Financial Performance - For the nine months ended September 30, 2021, the group's revenue was approximately SGD 19,694,000, an increase of about SGD 229,000 or 1.2% compared to the same period in 2020[5]. - The loss attributable to owners for the nine months ended September 30, 2021, was approximately SGD 3,377,000, compared to a loss of approximately SGD 761,000 for the same period in 2020, reflecting a difference of approximately SGD 2,616,000 primarily due to government grants received and a decrease in share option expenses[6]. - The gross profit for the nine months ended September 30, 2021, was SGD 1,217,161, compared to SGD 1,194,114 for the same period in 2020, indicating a slight increase in profitability[7]. - The total comprehensive loss for the nine months ended September 30, 2021, was SGD 3,376,840, compared to SGD 760,955 for the same period in 2020[7]. - The basic and diluted loss per share for the nine months ended September 30, 2021, was SGD 0.0049, compared to SGD 0.0012 for the same period in 2020[7]. - The administrative expenses for the nine months ended September 30, 2021, were SGD 5,193,739, an increase from SGD 3,093,488 for the same period in 2020[7]. - The company did not recommend any dividend for the nine months ended September 30, 2021[6]. - Other income for the nine months ended September 30, 2021, was SGD 687,116, down 43.6% from SGD 1,220,002 in the same period of 2020[24]. - The company recorded an unaudited loss of approximately SGD 3,377,000 for the nine months ended September 30, 2021, compared to an unaudited loss of approximately SGD 761,000 for the same period in 2020[52]. - Basic and diluted loss per share for the nine months ended September 30, 2021, was SGD (0.0049), compared to SGD (0.0012) in the same period of 2020[31]. Revenue Breakdown - For the three months ended September 30, 2021, total revenue was SGD 6,365,367, a slight decrease of 0.3% compared to SGD 6,385,840 in the same period of 2020[21]. - For the nine months ended September 30, 2021, total revenue increased to SGD 19,693,542, representing a growth of 1.2% from SGD 19,465,244 in the same period of 2020[21]. - Truck transportation services generated revenue of SGD 5,226,542 for the three months ended September 30, 2021, compared to SGD 5,258,110 in 2020, indicating a decrease of 0.6%[21]. - Revenue from truck transportation services rose by approximately SGD 215,000 to SGD 16,148,000, reflecting an increase of about 1.3% due to the recovery of the global economy and an increase in customer numbers[40]. - Revenue from consolidation services increased by approximately SGD 14,000 to about SGD 3,546,000, with demand primarily from freight forwarders and global logistics companies[41]. Cost and Expenses - The company’s financing costs for the nine months ended September 30, 2021, were SGD 87,378, compared to SGD 41,965 for the same period in 2020[7]. - The financing costs for the three months ended September 30, 2021, totaled SGD 24,576, an increase of 74.1% from SGD 14,121 in the same period of 2020[25]. - Administrative expenses increased by approximately SGD 2,101,000 or 67.9% to about SGD 5,194,000, mainly due to stock option expenses recognized during the period[50]. - The company incurred a foreign exchange loss of SGD 58,556 for the three months ended September 30, 2021, compared to a loss of SGD 102,170 in the same period of 2020[26]. Employee and Workforce - As of September 30, 2021, the total employee cost for the nine months was approximately SGD 7,427,000, compared to SGD 7,052,000 for the same period in 2020, reflecting an increase of about 5.3%[57]. - As of September 30, 2021, the group had a total of 161 employees, with local employees eligible for discretionary bonuses based on performance[57]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and policies adopted by the group and believes the financial performance complies with applicable accounting standards and regulations[79]. - The company has adopted a code of conduct for securities trading by directors, confirming compliance for the nine months ended September 30, 2021[74]. - The company has adhered to the corporate governance code principles, with one exception regarding the roles of the chairman and CEO being held by the same individual[76]. - The board will continue to review the effectiveness of the corporate governance structure to assess the necessity of separating the roles of chairman and CEO[76]. Future Plans and Challenges - The group plans to enhance service capacity by purchasing new vehicles and expanding its workforce to meet business growth needs[56]. - The group has a cautious approach towards its expansion plans due to global trade economic uncertainties[56]. - The ongoing impact of COVID-19 on the company's operations remains uncertain, with management unable to quantify the full financial effects at this time[73]. - The group faced unprecedented challenges due to the COVID-19 pandemic, impacting overall business operations and market conditions in Singapore[56]. - The group aims to strengthen its IT systems as part of its future plans outlined in the prospectus[56]. Shareholder Information - The group’s major shareholders include Ventris Global Limited with 58,205,000 shares (7.45%) and Wang Hufei with 203,340,000 shares (26.04%) as of September 30, 2021[63]. - The group has granted a total of 64,000,000 share options under the share option scheme, with 51,200,000 options remaining unexercised as of September 30, 2021[67]. Assets and Liabilities - As of September 30, 2021, the group reported a total equity of SGD 21,137,058[10]. - As of September 30, 2021, the total performance guarantees provided by financial institutions and insurance companies amounted to SGD 660,000[54]. - As of September 30, 2021, the group had properties with a total book value of approximately SGD 864,590 mortgaged as collateral for bank loans[71].
春能控股(08430) - 2021 Q3 - 季度财报