Financial Performance - For the three months ended March 31, 2021, the group's revenue was approximately SGD 7,092,000, an increase of about SGD 671,000 or 10.5% compared to SGD 6,421,115 for the same period in 2020[5] - The gross profit for the same period was SGD 487,142, compared to SGD 308,367 in the previous year, indicating a significant improvement[6] - The loss attributable to owners of the company for the three months ended March 31, 2021, was approximately SGD 446,000, an improvement of about SGD 182,000 from a loss of SGD 627,893 in the same period of 2020[5] - The company’s basic and diluted loss per share for the period was SGD 0.0007, compared to SGD 0.0010 in the previous year[6] - The company reported a pre-tax loss of SGD 446,048 for the three months ended March 31, 2021, compared to a loss of SGD 627,893 in the same period in 2020[34] - The group recorded a loss of approximately SGD 446,000 for the three months ended March 31, 2021, a reduction of about SGD 182,000 from a loss of approximately SGD 628,000 in the previous year[53] Revenue Breakdown - Revenue from the trucking services segment was SGD 5,782,270, up from SGD 5,149,880 in the previous year, while revenue from the consolidation services segment was SGD 1,310,126, compared to SGD 1,271,235 in 2020[20] - Revenue from truck transportation services rose by approximately SGD 632,000 to SGD 5,782,000, representing a growth of about 12.3% due to increased customer demand driven by global economic recovery[41] - Revenue from consolidation services increased by approximately 3.1% or about SGD 39,000, attributed to higher business volume from customers requiring storage space for containers[42] Dividends and Equity - The company did not recommend any dividend distribution for the three months ended March 31, 2021[5] - The total equity as of March 31, 2021, was SGD 19,381,000, down from SGD 20,010,565 as of March 31, 2020[9] - The company did not declare any dividends for the three months ended March 31, 2021, consistent with the previous year[35] - The company did not recommend the payment of dividends for the three months ended March 31, 2021, considering overall operational performance, financial condition, and funding needs[78] Costs and Expenses - The company’s financing costs increased to SGD 37,186 from SGD 14,113 in the previous year[6] - The interest expense on bank borrowings increased significantly to SGD 33,387 from SGD 2,963 in the prior year, contributing to a total financing cost of SGD 37,186 compared to SGD 14,113 in 2020[25] - The total employee benefits, excluding directors' remuneration, increased to SGD 2,584,289 from SGD 2,203,403 in the same period last year[27] - The total employee costs for the three months ended March 31, 2021, amounted to approximately SGD 2,826,000, compared to SGD 2,528,000 for the same period last year[59] - Administrative expenses remained relatively stable at approximately SGD 1,245,000 compared to SGD 1,197,000 for the same period last year[51] Government Support and Subsidies - The company received government subsidies amounting to SGD 309,976 for the three months ended March 31, 2021, compared to SGD 60,182 in the same period in 2020[24] - Other income rose from approximately SGD 275,000 to about SGD 349,000, mainly attributed to government subsidies under the job support scheme during COVID-19[50] Operational Strategy and Market Focus - All revenue was generated from the Singapore market, indicating a focused operational strategy[20] - The group aims to enhance overall competitiveness and market share in Singapore, with GDP growth estimated to remain between 4% and 6%[58] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the three months ended March 31, 2021, and found them compliant with applicable accounting standards and regulations[80] - The company has adopted corporate governance practices in line with GEM listing rules, with a noted exception regarding the roles of the Chairman and CEO being held by the same individual[77] - The board of directors confirmed compliance with the trading rules for directors as of March 31, 2021[76] COVID-19 Impact - The company is closely monitoring the ongoing COVID-19 situation, which has significantly impacted its business operations, although the financial impact remains unquantified[74] - The company has not identified any COVID-19 infections among employees as of the report date[74]
春能控股(08430) - 2021 Q1 - 季度财报