Financial Performance - The group's revenue for the three months ended September 30, 2021, was approximately MYR 8.3 million, a decrease of about 3.5% compared to the same period last year[7]. - Gross profit for the same period decreased by approximately 25.0% to about MYR 2.4 million[7]. - The company reported a loss per share of approximately 0.11 sen for the three months ended September 30, 2021, compared to a loss of 0.01 sen for the same period in 2020[7]. - The total comprehensive loss for the period was MYR 997,000, compared to a loss of MYR 7,000 in the previous year[10]. - The company reported a net loss of 676 thousand MYR for the period, compared to a loss of 321 thousand MYR in the previous period[18]. - Revenue decreased by approximately 0.3 million MYR or 3.5% to about 8.3 million MYR for the three months ended September 30, 2021, primarily due to a 7.1% decrease in revenue from network support services[58]. - The total loss and comprehensive expenses increased by approximately 1.0 million MYR to about 1.0 million MYR for the three months ended September 30, 2021, due to decreased revenue and increased costs[68]. Expenses and Costs - The cost of sales for the three months was MYR 5.919 million, compared to MYR 5.414 million in the previous year[10]. - Administrative and other operating expenses totaled MYR 3.266 million for the period[10]. - Employee costs, including directors' remuneration, amounted to 1,464 thousand MYR for the three months ended September 30, 2021, up from 1,085 thousand MYR in the same period of 2020, reflecting a 35% increase[37]. - The total income tax expense for the period was 25 thousand MYR, a substantial increase from 19 thousand MYR in the same period of 2020[39]. - Total sales and service costs increased by approximately 0.5 million MYR or 9.3% to about 5.9 million MYR for the three months ended September 30, 2021[60]. - Administrative and other operating expenses rose by approximately 0.9 million MYR or 37.5% to about 3.3 million MYR, driven by increased depreciation and employee costs[65]. Equity and Shareholding - The company's total equity attributable to owners was MYR 54.465 million as of September 30, 2021[12]. - The company’s total equity attributable to equity holders was 51,130 thousand MYR as of September 30, 2021[18]. - As of September 30, 2021, Tan Datuk holds 303,750,000 shares, representing approximately 50.625% of the company's issued share capital[73]. - Mr. Yu holds 112,500,000 shares, accounting for about 18.75% of the company's issued share capital[73]. - The shareholding structure indicates significant control by major shareholders, with Tan Datuk and Mr. Yu collectively holding over 69% of the company[82]. Corporate Governance - The audit committee consists of three independent non-executive directors as of September 30, 2021, ensuring robust oversight of financial reporting and compliance with applicable accounting standards and GEM listing rules[92]. - The company adopted and complied with the corporate governance code during the three months ended September 30, 2021, to ensure proper regulation of business activities and decision-making processes[93]. - The company believes that the dual role of the Chairman and CEO held by Eric Tan is in the best interest of the group, despite a deviation from the corporate governance code[95]. - The company has implemented appropriate checks and balances through the board and independent non-executive directors[95]. Strategic Developments - On July 26, 2021, the company acquired 100% of the shares of China Rice Bug Technology Holdings Limited for 8,000 HKD, which has been consolidated into the financial statements[49]. - The company aims to enhance its capital strength and resources for future development, marking a significant milestone since its listing on the GEM of the Stock Exchange on December 9, 2019[51]. - The company aims to expand its network support and connectivity services to markets outside Malaysia, specifically Hong Kong and the People's Republic of China[56]. - The company entered into a strategic cooperation agreement with Hangzhou Super Technology Co., Ltd. to provide cloud computing and blockchain-based internet solutions from October 1, 2021, to December 31, 2024[57]. Impact of COVID-19 - The COVID-19 pandemic has accelerated the digital agenda, leading to increased demand for internet connectivity and higher bandwidth services as businesses adapt to new operational models[55]. - The company has adapted quickly to new operational procedures due to COVID-19, minimizing disruptions and maintaining productivity levels[55]. - The company continues to prioritize the health and safety of its employees and clients while enhancing its network infrastructure to ensure connectivity services are available at all times[55]. Miscellaneous - The company has not disclosed any new product or technology developments in this report[7]. - The company has not recognized any significant government subsidies during the period, with only minor amounts reported[33]. - The company has not made any significant acquisitions or disposals of subsidiaries or associates during the three months ended September 30, 2021[71]. - The company did not purchase, sell, or redeem any of its listed securities during the three months ended September 30, 2021[100]. - There were no known conflicts of interest involving directors or major shareholders in any business that may compete with the group as of September 30, 2021[97]. - The report contains forward-looking statements regarding the group's financial condition and operational performance, which are subject to known and unknown risks[101].
比特元宇宙(08645) - 2022 Q1 - 季度财报