Financial Performance - Revenue for the three months ended March 31, 2022, was SGD 5,990,536, representing a 21.8% increase from SGD 4,918,573 in the same period of 2021[4] - Gross profit for the same period was SGD 1,525,621, up 45.9% from SGD 1,044,714 year-over-year[4] - The company reported a net profit of SGD 830,153 for Q1 2022, compared to SGD 474,490 in Q1 2021, marking a 74.9% increase[4] - The cost of sales increased to SGD 4,464,915, up 15.2% from SGD 3,873,859 in the previous year[4] - Revenue from renovation services significantly increased to SGD 4,303,271, up 65.3% from SGD 2,602,755 in the same period of 2021[12] - Revenue from the signage business was SGD 1,687,265, down 27.1% from SGD 2,315,818 in the previous year[12] - Profit attributable to owners of the company for the same period was SGD 830,153, compared to SGD 474,490 in 2021, indicating a significant increase[19] - The gross profit for the three months ended March 31, 2022, was approximately SGD 1,526,000, with a gross margin of about 25.5%, up from 21.2% in 2021[27] Expenses and Costs - The financing costs for the quarter were SGD 9,261, an increase from SGD 7,701 in the same quarter of 2021[16] - The income tax expense for Q1 2022 was SGD 181,039, compared to SGD 97,400 in Q1 2021, reflecting an increase of 85.7%[17] - Total sales and administrative expenses decreased by 29.0% to approximately SGD 546,000 from SGD 769,000 in 2021[28] - The company recorded a tax expense of SGD 181,039 for the period, compared to SGD 97,400 in the previous year[5] Shareholder Information - As of March 31, 2022, the company has a total of 39,337,600 shares held by Absolute Truth Investments Limited, representing approximately 17.56% of the issued share capital[34] - The company’s executive director, Chen Tianji, holds 39,337,600 shares through Absolute Truth Investments Limited, which he co-owns with Chen Guanghui[34] - The company did not recommend any interim dividend for the three months ended March 31, 2022, consistent with the previous year[21] Employee and Governance - The company employed a total of 76 employees as of March 31, 2022, compared to 71 in 2021, with total employee costs around SGD 710,000[31] - The board of directors confirmed compliance with the corporate governance code as of March 31, 2022[42] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated results for the three months ended March 31, 2022, ensuring compliance with applicable accounting standards and GEM listing rules[44] - The board is committed to enhancing internal control systems and corporate governance practices to create shareholder value[41] Stock Options - The company has granted a total of 12,800,000 share options under its share option scheme, with an exercise price of HKD 0.45 per share, valid until April 8, 2022[39] - No share options were granted, exercised, lapsed, or cancelled during the three months ended March 31, 2022, and all 12,800,000 share options remain unexercised as of that date[39] - The company has adopted a share option scheme since September 21, 2018, to incentivize directors and employees[39] - The company granted a total of 22,400,000 stock options to employees under the stock option plan, with an exercise price of HKD 0.50 per share[45] - Following the exercise of 12,800,000 stock options on April 12, 2022, the company issued a total of 12,800,000 shares, with a total par value of HKD 400,000 and total proceeds of HKD 5,760,000[45] - The stock options are valid from April 7, 2022, to April 6, 2024, for a period of two years[45] Market Outlook - The outlook for the construction sector in Singapore remains challenging due to ongoing COVID-19 impacts, with the company planning to allocate more resources to renovation services[30]
吉辉控股(08027) - 2022 Q1 - 季度财报