Financial Performance - The group reported revenue of 49,315 thousand MYR for the three months ended March 31, 2021, representing a 93.8% increase from 25,464 thousand MYR in the same period of 2020[5] - Gross profit for the same period was 26,289 thousand MYR, up from 7,725 thousand MYR, indicating a significant improvement in profitability[5] - The net profit for the period was 9,435 thousand MYR, compared to 2,693 thousand MYR in the previous year, reflecting a growth of 250.5%[6] - Operating profit for the group was 10,528 thousand MYR, compared to 3,760 thousand MYR in the previous year, reflecting an increase of 179.5%[18] - The total comprehensive income for the period was 4,178 thousand MYR, slightly down from 4,736 thousand MYR in the previous year[6] - Basic and diluted earnings per share were 0.38 sen, compared to 0.48 sen in the same period last year[6] - The company's revenue for the first quarter of 2021 was approximately 49.3 million MYR, an increase of 23.8 million MYR or 93.3% compared to the same period in 2020[50] - The group's gross profit was approximately 26.3 million MYR, an increase of 18.6 million MYR compared to 7.7 million MYR in the same period of 2020, resulting in a gross margin improvement from 30.2% to 53.3%[53] - The net profit for the period was 9.4 million MYR, an increase of approximately 6.7 million MYR compared to 2.7 million MYR in the same period of 2020[58] Revenue Breakdown - The production segment generated revenue of 32,626 thousand MYR, while the retail segment contributed 642 thousand MYR, indicating a strong performance in manufacturing[18] - Revenue from elastic textiles was 8,239 thousand MYR, showing an increase from 7,327 thousand MYR year-over-year[29] - Revenue from webbing products rose to 15,211 thousand MYR, up from 9,767 thousand MYR, indicating a growth of 55.5%[29] - Revenue from the production segment was about 32.6 million MYR, an increase of approximately 8.4 million MYR or 34.7% year-on-year[43] - The revenue from the ribbon segment was about 15.2 million MYR, an increase of 5.4 million MYR or 55.1% year-on-year[46] - Other products generated revenue of approximately 9.2 million MYR, an increase of 2.1 million MYR or 29.6% compared to the same period in 2020[47] Expenses and Losses - The company incurred a loss of 7,479 thousand MYR from the sale of a subsidiary during the period[6] - The company incurred a loss of 7,292 thousand MYR attributed to non-controlling interests during the quarter[18] - The company reported a net loss of 4,468 thousand MYR in other income/expenses for the first quarter of 2021, compared to a net gain of 3,594 thousand MYR in the same period of 2020[30] - The total financing costs for the first quarter of 2021 were 475 thousand MYR, a decrease from 523 thousand MYR in the same period of 2020[31] - Administrative expenses rose by approximately 2.2 million MYR or 42.3%, totaling 7.4 million MYR, primarily due to expenses related to the acquired securities brokerage business[57] Market and Strategic Initiatives - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[4] - The group continues to focus on enhancing its operational efficiency and exploring strategic partnerships for growth[4] - The company is continuously reviewing supply and demand conditions and cost-reduction measures to ensure business sustainability amid ongoing global challenges[62] - The management has established a risk management committee to monitor and assess potential international sanction risks, ensuring compliance with relevant regulations[66] - The company believes it is well-positioned to adapt to the new normal in the operating environment[63] Shareholder and Governance Information - The major shareholder, PRG Holdings, holds a beneficial interest of 54.19% in the company, with 303,468,000 shares as of March 31, 2021[85] - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[92] - The board of directors includes both executive and non-executive members, ensuring a diverse governance structure[95] - The company has a non-competition agreement in place with its major shareholder to prevent competition in specified regions[74] - The company’s independent non-executive directors confirmed compliance with the non-competition agreement during the relevant period[75] - The company has confirmed that all directors have adhered to the trading code during the reporting period[91] Dividend Information - The company did not declare any dividends for the period, consistent with the previous year[38] - The group did not declare any dividends for the period, consistent with the previous year[60] Compliance and Reporting - The group did not report any significant impact from the adoption of new accounting standards effective from January 1, 2021[12] - The audit committee has reviewed the unaudited condensed consolidated performance for the period and confirmed compliance with applicable accounting standards and GEM listing rules[94] - The report is accessible on the GEM website and the company's website for at least seven days from the publication date[96] - The first quarter performance report for 2021 has been released, indicating ongoing financial assessments[97]
飞霓控股(08480) - 2021 Q1 - 季度财报