Financial Performance - For the three months ended March 31, 2020, the company reported revenue of SGD 3,986,000, a decrease from SGD 4,897,000 in the same period of 2019, representing a decline of approximately 18.6%[14] - Gross profit for the same period was SGD 2,894,000, down from SGD 3,582,000 in 2019, indicating a decrease of about 19.2%[14] - The company incurred a loss before tax of SGD 1,392,000, compared to a loss of SGD 308,000 in the prior year, reflecting a significant increase in losses[14] - Total comprehensive loss for the period was SGD 1,227,000, compared to a loss of SGD 346,000 in the same period last year, marking an increase of approximately 254.3%[14] - Basic loss per share for the period was SGD (0.28), compared to SGD (0.07) in the previous year, indicating a worsening of the loss per share[14] - The loss for the period was SGD 1,408,000, compared to a loss of SGD 321,000 in the same period of 2019, representing a significant increase in losses[33] - The basic loss per share for the three months ended March 31, 2020, was SGD 0.28 cents, compared to SGD 0.07 cents for the same period in 2019[33] Revenue Breakdown - Revenue from the restaurant business was SGD 3,025,000, down from SGD 3,694,000 in the previous year, reflecting a decline of 18.1%[26] - Revenue from the bakery business, including sales of bread and pastries, was SGD 953,000, a decrease from SGD 1,151,000 in the prior year, down 17.3%[26] - Revenue decreased by approximately SGD 0.91 million or 18.6% to about SGD 3.99 million for the three months ended March 31, 2020, compared to SGD 4.90 million for the same period in 2019, primarily due to the impact of COVID-19[41] Expenses and Costs - Employee benefits expenses increased to SGD 1,717,000 from SGD 1,656,000, showing a rise of about 3.7%[14] - Depreciation of property, plant, and equipment was SGD 235,000, up from SGD 221,000, reflecting an increase of approximately 6.3%[14] - Marketing and advertising expenses decreased to SGD 8,000 from SGD 20,000, a reduction of approximately 60%[14] - Financial costs rose significantly to SGD 166,000 from SGD 17,000, indicating an increase of about 876.5%[14] - Cost of goods sold decreased by approximately SGD 0.22 million or 17.0% to about SGD 1.09 million for the three months ended March 31, 2020, aligning with the revenue decline[42] - Other expenses increased by approximately SGD 0.20 million to about SGD 0.87 million for the three months ended March 31, 2020, primarily due to increased operating costs from business expansion[46] - Financing costs increased by approximately SGD 0.15 million or 876.5% to about SGD 0.17 million for the three months ended March 31, 2020, due to interest expenses related to lease liabilities[49] Government Support and Grants - The company received government grants totaling SGD 65,000 during the period, compared to SGD 85,000 in the same period of 2019[26] Corporate Governance and Shareholder Information - The company did not recommend any interim dividend for the three months ended March 31, 2020, consistent with the previous year[31] - The company is committed to high standards of corporate governance, although the roles of Chairman and CEO are held by the same individual[72] - The company expressed gratitude to shareholders, business partners, and employees for their support and efforts during the reporting period[79] - As of March 31, 2020, the company had 282 million shares held by Ms. Liu Wan-Zhen, representing a beneficial interest of 56.4%[61] - Bright Honor holds 90,500,000 shares, representing 18.1% of the total issued share capital as of April 18, 2020[66] Business Operations and Future Plans - The company has suspended any expansion plans and is closely monitoring expenses to maintain a healthy cash flow amid the pandemic[39] - The net proceeds from the share offering amounted to approximately HKD 23.7 million, which is expected to assist in implementing business plans and increasing market share[39] - The net proceeds from the share issuance amount to approximately HKD 23.7 million, with 76.4% allocated for expanding the restaurant business in Singapore[51] - The company plans to use approximately HKD 8.4 million originally intended for a new "Greyhound Café" location to open a second restaurant under the "MASA by Black Society" brand[57] - The renovation of the new headquarters was completed in early January 2020, and all headquarters staff began working there in mid-January 2020[54] - The company has completed the renovation of two new restaurants under the "MASA by Black Society" brand, which commenced operations in June and July 2019[53] - The company has begun upgrading its IT systems, including sales points and CCTV systems in restaurants and retail stores[55] - The company plans to continue hiring new staff at the headquarters to improve administrative efficiency[54] Miscellaneous - The company did not purchase, sell, or redeem any listed securities during the three months ending March 31, 2020[68] - No significant investments, acquisitions, or disposals were made during the three months ending March 31, 2020[78] - No related party transactions were recorded for the three months ending March 31, 2020[67] - No stock options were granted, exercised, or cancelled from the adoption of the stock option plan until March 31, 2020[70] - The audit committee reviewed the unaudited first-quarter results for the three months ending March 31, 2020[76] - The unutilized net proceeds are temporarily held in licensed institutions in Hong Kong and Singapore as short-term deposits[56] - The company has no interests in any competing businesses as of March 31, 2020[73]
聚利宝控股(08527) - 2020 Q1 - 季度财报