Financial Performance - For the first quarter ended March 31, 2021, the company reported revenue of SGD 6,389,000, a 91.5% increase from SGD 3,341,000 in the same period of 2020[11] - Other income and gains for the same period were SGD 169,000, up from SGD 73,000 year-over-year[11] - The company reported a net profit of SGD 116,000 for the quarter, compared to a net loss of SGD (685,000) in the previous year[11] - Total comprehensive income for the period was SGD 86,000, recovering from a total comprehensive loss of SGD (685,000) in the prior year[13] - Service revenue for the three months ended March 31, 2021, was SGD 2,849,000, an increase from SGD 2,726,000 in 2020, representing a growth of 4.5%[28] - Automotive supply revenue surged to SGD 2,785,000 for the three months ended March 31, 2021, compared to SGD 105,000 in the same period of 2020, marking a significant increase[28] - The group recorded a profit and total comprehensive income of approximately SGD 116,000 for the period, compared to a loss of about SGD 0.7 million in the same period of 2020[63] Cost Management - The cost of materials used increased to SGD (3,704,000) from SGD (1,094,000), reflecting a significant rise in production costs[11] - Employee benefits expenses slightly decreased to SGD (1,173,000) from SGD (1,183,000), showing cost management efforts[11] - Financing costs rose to SGD 85,000 in Q1 2021 from SGD 74,000 in Q1 2020, an increase of 14.9%[31] - The cost of materials used increased by approximately SGD 2.6 million during the period, attributed to costs associated with supplying automotive parts and equipment in mainland China[55] Strategic Initiatives - The company is focusing on expanding its market presence and enhancing product offerings to drive future growth[11] - The company is focused on expanding its automotive repair and maintenance services in Singapore, which is its primary business[18] - The company is evaluating potential mergers and acquisitions to enhance its market position and service offerings[18] - The company aims to leverage its joint ventures and partnerships to expand its market reach and operational capabilities[26] - The group plans to adopt a cautious approach to expansion while focusing on strengthening its position in the automotive after-sales service sector in Singapore and increasing market share in mainland China[49] Equity and Financial Position - As of March 31, 2021, the total equity attributable to owners was SGD 2,645 million, a decrease from SGD 2,645 million as of December 31, 2020[15] - The accumulated losses as of March 31, 2021, were SGD 177 million, compared to SGD 293 million as of December 31, 2020, indicating a reduction in losses[15] - The company’s total equity increased to SGD 11,014 million as of March 31, 2021, from SGD 10,928 million as of December 31, 2020[15] Shareholder Information - The total number of shares issued as of the report date is 850 million, with major shareholders holding significant stakes[73][79] - Mr. Hong Liqiang and Ms. Lin Liling each hold 44.56% of the shares through Red Link International Limited[71][79] - The company has adopted a stock option plan since September 18, 2019, but no stock options have been granted or exercised as of March 31, 2021[83] Compliance and Governance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[19] - The company has established an audit committee to review financial information and monitor financial reporting systems, with three independent non-executive directors[90] - There were no interests or potential conflicts of interest reported by directors or major shareholders in any competing businesses as of March 31, 2021[80] Dividends - The company did not declare any dividends for the three months ended March 31, 2021, consistent with the previous year[38] - The board does not recommend any dividend payment for the three months ended March 31, 2021, consistent with the previous year[91] - The group has not proposed any interim dividend for the three months ended March 31, 2021, consistent with the previous year[64] Acquisitions - The company has agreed to acquire a 53% stake in Hunan Maliang Digital Technology Co., Ltd. for RMB 5,077,840, which will become an indirect subsidiary upon completion[43] - The group has entered into an agreement to acquire a 53% stake in Hunan Maliang Digital Technology Co., Ltd. for a total consideration of RMB 5,077,840, which will enhance its position in the Chinese market[52]
傲迪玛汽车(08418) - 2021 Q1 - 季度财报