Financial Performance - For the three months ended September 30, 2019, the revenue was SGD 5,358,000, an increase of 26.9% compared to SGD 4,221,000 for the same period in 2018[11]. - The net profit for the three months ended September 30, 2019, was SGD 387,000, compared to a loss of SGD 614,000 for the same period in 2018[13]. - The total comprehensive income for the nine months ended September 30, 2019, was SGD 434,000, compared to a loss of SGD 1,180,000 for the same period in 2018[13]. - The company reported a gross profit of SGD 599,000 for the three months ended September 30, 2019, compared to a loss of SGD (547,000) for the same period in 2018[11]. - The basic and diluted earnings per share for the three months ended September 30, 2019, were SGD 0.06, compared to a loss of SGD (0.10) for the same period in 2018[13]. - The group reported a profit attributable to owners of the company of SGD 387,000 for the three months ended September 30, 2019, compared to a loss of SGD 614,000 in the same period of 2018[40]. - Basic and diluted earnings per share for the three months ended September 30, 2019, was SGD 0.06, compared to a loss per share of SGD (0.10) for the same period in 2018[40]. - The group recorded a profit of approximately SGD 0.4 million for the year 2019, compared to a loss of approximately SGD 1.2 million in 2018, primarily due to higher listing expenses incurred in 2018[53]. Revenue Breakdown - For the three months ended September 30, 2019, total revenue was SGD 5,358,000, an increase from SGD 4,221,000 in the same period of 2018, representing a growth of 26.9%[27]. - Service revenue for the nine months ended September 30, 2019, was SGD 9,510,000, a decrease of 3.2% compared to SGD 9,822,000 for the same period in 2018[27]. - Warranty income for the three months ended September 30, 2019, was SGD 381,000, up from SGD 354,000 in the same period of 2018, indicating a growth of 7.6%[27]. - Automotive supply revenue increased significantly to SGD 413,000 for the three months ended September 30, 2019, compared to SGD 36,000 in the same period of 2018, marking an increase of 1,147.2%[27]. - Rental income from vehicles for the nine months ended September 30, 2019, was SGD 1,903,000, slightly up from SGD 1,872,000 in the same period of 2018, reflecting a growth of 1.7%[27]. Expenses and Costs - The cost of materials for the three months ended September 30, 2019, was SGD (1,441,000), an increase from SGD (1,304,000) in the same period of 2018[11]. - Employee benefit expenses for the three months ended September 30, 2019, were SGD (1,458,000), compared to SGD (1,182,000) for the same period in 2018[11]. - The total expenses for the nine months ended September 30, 2019, were SGD (8,186,000), a decrease from SGD (10,998,000) for the same period in 2018[11]. - The company incurred listing expenses of SGD (434,000) for the three months ended September 30, 2019, compared to SGD (1,004,000) in the same period of 2018[11]. - Material costs decreased by approximately SGD 0.3 million or 9.0% to about SGD 3.7 million for the nine months ended September 30, 2019, from about SGD 4.0 million in the same period of 2018, attributed to more competitive pricing from new suppliers[48]. - Employee benefits expenses increased by approximately SGD 0.2 million or 6.6% to about SGD 3.8 million for the nine months ended September 30, 2019, compared to SGD 3.6 million in the same period of 2018, mainly due to mid-term bonuses paid to employees[49]. - Other expenses decreased by approximately SGD 1.3 million or 48.0% to about SGD 1.3 million for the nine months ended September 30, 2019, from about SGD 2.6 million in the same period of 2018, primarily due to reduced rent and utility expenses[51]. Strategic Plans and Developments - The company aims to expand its market presence and enhance product offerings in the upcoming quarters[11]. - The group plans to expand its service capabilities and continue to grow its rental fleet to support its automotive after-sales business following the successful listing on GEM on October 11, 2019[45]. - The group expects to enhance its information technology and equipment following the evaluation of suppliers post-listing[45]. - The group has relocated its Upper Thomson service center to a new property with a larger floor area and more parking spaces, which is expected to have no significant impact on operations[44]. Listing and Corporate Governance - The company successfully listed on GEM on October 11, 2019, with the stock code 8418[78]. - The company has adopted a share option scheme on September 18, 2019, in compliance with GEM Listing Rules, but no options have been granted since its adoption[69]. - The company has confirmed that all directors have complied with the trading standards as per GEM Listing Rules from the listing date to the report date[70]. - The company has adopted and complied with the corporate governance code as per GEM Listing Rules, except for the deviation regarding the separation of the roles of Chairman and CEO[73]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the nine months ended September 30, 2019, ensuring compliance with applicable accounting standards and GEM Listing Rules[77]. Shareholder Information - As of September 30, 2019, the total number of issued shares was 850 million, with Mr. Hong Liqiang and Ms. Lin Liling each holding approximately 44.56% of the shares[59]. - The actual net proceeds from the share sale on GEM amounted to approximately HKD 17.5 million, which is less than the estimated figure in the prospectus[55]. - The allocation of the actual net proceeds is as follows: 41.7% (HKD 7.3 million) for expanding service capacity, 29.1% (HKD 5.1 million) for expanding the rental fleet, and 17.7% (HKD 3.1 million) for improving service capabilities and operational efficiency[56]. - The company plans to proportionally adjust the implementation amounts of its future plans based on the actual net proceeds from the share sale[55]. - There were no options granted under the share option scheme as of September 30, 2019, and no unexercised options remain[69]. - No directors or controlling shareholders have interests in any business that directly or indirectly competes with the group as of September 30, 2019[66].
傲迪玛汽车(08418) - 2019 Q3 - 季度财报