Financial Performance - The company's revenue for the three months ended March 31, 2023, was SGD 4,143,007, a decrease of 30.8% compared to SGD 5,990,536 for the same period in 2022[4] - Gross profit for the same period was SGD 878,709, down 42.5% from SGD 1,525,621 in 2022[4] - The company reported a net profit of SGD 14,856 for Q1 2023, a significant decline of 98.2% from SGD 830,153 in Q1 2022[4] - The basic earnings per share for Q1 2023 was SGD 0.006, compared to SGD 0.371 in Q1 2022, reflecting a decrease of 98.4%[4] - The total comprehensive income attributable to owners of the company was SGD 42,201 in Q1 2023, compared to SGD 827,512 in Q1 2022, a decrease of 94.9%[4] - Profit for the period was approximately SGD 15,000, down from SGD 830,000 in the same period last year, reflecting a significant decline in profitability[31] - Gross profit for the period was approximately SGD 879,000, with a gross margin of about 21.2%, compared to a gross margin of 25.5% in 2022[31] Revenue Breakdown - Revenue from the signage business was SGD 2,746,685 in Q1 2023, compared to SGD 1,687,265 in Q1 2022, indicating a growth of 62.8%[12] - Revenue from renovation services was SGD 1,396,322 in Q1 2023, a significant increase from SGD 4,303,271 in Q1 2022, reflecting a change in reporting[15] - Revenue from signage and related products in the public and private sectors was approximately SGD 2,747,000, an increase of about SGD 1,060,000 compared to SGD 1,687,000 in 2022[33] - Revenue from renovation and refurbishment services decreased by approximately SGD 2,907,000, from SGD 4,303,000 in 2022 to SGD 1,396,000 in 2023, due to a reduction in the number of projects undertaken[33] Foreign Exchange and Financing Costs - The company experienced a foreign exchange loss of SGD 239,932 in Q1 2023, compared to a loss of SGD 18,520 in the same period last year[18] - The company experienced a foreign exchange loss of approximately SGD 240,000 due to the depreciation of the Hong Kong dollar against the Singapore dollar[32] - Financing costs increased to SGD 44,038 in Q1 2023, up from SGD 9,261 in Q1 2022, marking a rise of 376.5%[19] Employee and Costs - The company employed a total of 88 employees as of March 31, 2023, an increase from 76 employees in 2022[35] - Total employee costs, including director remuneration, were approximately SGD 735,000 for the three months ended March 31, 2023, compared to SGD 710,000 in 2022[35] Government Grants - The company received government grants totaling SGD 16,883 in Q1 2023, down from SGD 26,370 in Q1 2022[17] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated results for the three months ended March 31, 2023, ensuring compliance with applicable accounting standards and GEM listing rules[46] - The company has adopted a code of conduct for securities trading by directors, confirming compliance with the regulations during the reporting period[45] - The board is committed to adhering to the corporate governance code and has implemented measures to enhance internal control systems[43] - The board believes that the company has complied with the corporate governance code as of March 31, 2023[44] Shareholding Information - As of March 31, 2023, the total shares held by executive director Chen Tianji is 39,337,600, representing approximately 16.61% of the issued share capital[36] - Absolute Truth Investments Limited, a major shareholder, holds 39,337,600 shares, equivalent to 16.61% of the issued share capital[38] - The company has no knowledge of any other individuals holding interests in the company's shares or related securities as of March 31, 2023[40] Other Information - The company did not recommend any interim dividend for the three months ended March 31, 2023, consistent with the previous year[24] - There were no significant events occurring after March 31, 2023[47] - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ended March 31, 2023[42] - The company has not disclosed any interests or positions held by directors in competing businesses during the reporting period[41]
吉辉控股(08027) - 2023 Q1 - 季度财报