Financial Performance - For the three months ended March 31, 2020, the group's unaudited revenue was approximately SGD 4.8 million, an increase of approximately SGD 2.2 million or 83.5% compared to SGD 2.6 million for the same period in 2019[6] - The group recorded an unaudited loss of approximately SGD 173,000 for the three months ended March 31, 2020, compared to a loss of approximately SGD 1.3 million for the same period in 2019[6] - Basic and diluted loss per share for the three months ended March 31, 2020, was SGD 0.04, compared to SGD 0.31 for the same period in 2019[6] - The total comprehensive loss for the period was SGD 131,000, compared to SGD 1.25 million for the same period in 2019[13] - The group's gross profit for the three months ended March 31, 2020, was SGD 943,000, compared to a gross loss of SGD 365,000 for the same period in 2019[10] - Other income for the three months ended March 31, 2020, was SGD 254,000, compared to SGD 50,000 for the same period in 2019[10] - The company reported a net loss attributable to equity holders of 185 thousand Singapore dollars in Q1 2020, compared to a net loss of 1,250 thousand Singapore dollars in Q1 2019, indicating a significant improvement[33] - The overall gross profit improved from a gross loss of approximately SGD 0.4 million to a gross profit of approximately SGD 0.9 million, representing an increase of approximately 358.4%[44] - The overall gross margin increased from a gross loss margin of approximately 13.9% to a gross profit margin of approximately 19.6%[44] Administrative and Operational Expenses - The group incurred administrative expenses of SGD 1.125 million for the three months ended March 31, 2020, compared to SGD 749,000 for the same period in 2019[10] - Employee benefit expenses rose to 1,495 thousand Singapore dollars in Q1 2020 from 1,303 thousand Singapore dollars in Q1 2019, reflecting a 14.7% increase[26] - The group's administrative expenses increased by approximately SGD 0.3 million or 50.2% to about SGD 1.1 million for the three months ended March 31, 2020[45] - The increase in administrative expenses was mainly due to combined administrative expenses of approximately SGD 0.3 million from Angao and Pin Hao[46] Acquisition and Business Development - The group completed the acquisition of Pinhao Global Limited and its subsidiaries, which primarily engage in the development, manufacturing, and sales of gaming machines and equipment in China[17] - The acquisition of Pin Hao was completed on January 3, 2020, for a total consideration of 16 million Hong Kong dollars, with performance bonuses potentially increasing the total to 48 million Hong Kong dollars[36] - The newly acquired business contributed revenue of 977 thousand Singapore dollars and net profit of 244 thousand Singapore dollars during the period from January 3 to March 31, 2020[37] Dividend and Shareholder Information - The board of directors did not recommend the payment of a dividend for the three months ended March 31, 2020[7] - The company did not declare an interim dividend for the period ending March 31, 2020[35] - As of March 31, 2020, the company did not purchase, sell, or redeem any of its listed securities[60] - The company has not granted any share options under its share option scheme as of the report date[61] - There were no reported non-compliance incidents by directors regarding securities transactions during the three months ended March 31, 2020[66] - The company has not disclosed any other interests or short positions in its shares as required by the Securities and Futures Ordinance[59] Governance and Compliance - The company has maintained high standards of corporate governance to protect shareholder interests and enhance corporate value, complying with the GEM Listing Rules[65] - The audit committee has reviewed the unaudited consolidated financial information for the three months ended March 31, 2020, and confirmed compliance with applicable accounting standards and GEM Listing Rules[69] - The audit committee is composed of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[67] - The chairman and CEO roles are held by the same individual, which the board believes is in the best interest of the company and its shareholders[65] - The company has not made any recommendations for the appointment or dismissal of external auditors as of the report date[69] Market and Future Outlook - The increase in revenue was primarily due to an increase in customer orders for disposable medical device injection molded plastic components by approximately SGD 1.2 million and sales of gaming machines and equipment amounting to approximately SGD 1.0 million[42] - The group believes that its diversified business segments will enhance its sustainable growth capability amid the uncertainties caused by the COVID-19 pandemic[40] - The group will continue to focus on providing excellent products and services to maintain competitiveness and attract more customers[40] - The group’s Singapore subsidiary will continue operations as it is part of the essential supply chain during the circuit breaker measures implemented by the government[40] Finance Costs and Taxation - The company incurred finance costs of 68 thousand Singapore dollars in Q1 2020, down from 91 thousand Singapore dollars in Q1 2019[28] - The effective tax rate for Singapore was maintained at 17% for both 2020 and 2019, with a deferred tax expense of (22) thousand Singapore dollars in Q1 2020[32]
官酝控股(08513) - 2020 Q1 - 季度财报