Revenue and Profitability - Revenue for the nine months ended February 28, 2022, was SGD 18,096,096, an increase of 26.8% compared to SGD 14,266,120 for the same period in 2021[17]. - Gross profit increased to SGD 7,448,770, representing a 34.0% increase from SGD 5,556,929 year-on-year[18]. - The Simplicity business segment saw a revenue growth of 38.7%, contributing an additional SGD 4,542,004, driven by public sector investments in smart technology[17]. - The myBill segment experienced a revenue decline of 27.4%, losing SGD 333,035 due to the sudden closure of a major client[17]. - Starlight's revenue decreased by 39.4%, amounting to a loss of SGD 428,814, attributed to reduced demand amid COVID-19 and regulatory changes[17]. - SpaceMonster's subscription revenue grew by 20.6%, adding SGD 49,821 as more venues joined the platform[17]. - The company reported a profit before tax of SGD 2,311,398 for the nine months ended February 28, 2022, compared to SGD 1,876,666 for the same period in 2021, marking a 23.1% increase[22]. - Basic earnings per share for the nine months ended February 28, 2022, was SGD 0.57, up from SGD 0.47 in the previous year, reflecting a 21.3% increase[22]. - The total comprehensive loss for the period was SGD 2,303,666, compared to a loss of SGD 1,875,166 in the previous year[22]. Expenses and Costs - The increase in gross profit was primarily due to revenue growth offsetting increased labor-related costs, which rose by 71.9% across all business segments[18]. - Pre-tax profit increased due to revenue growth, which offset the rise in selling, marketing, and general administrative expenses[18]. - The company faced challenges in employee retention, leading to higher payroll and outsourcing costs[18]. - Administrative expenses rose by 22.3% to 3,293,482 SGD, primarily due to increased employee costs[119]. - The total employee costs for the nine months ended February 28, 2022, were SGD 9,373,038, compared to SGD 7,254,865 in the previous year, reflecting an increase of about 29%[81]. - Financing costs for the nine months ended February 28, 2022, were SGD 47,629, compared to SGD 37,524 in the previous year, which is an increase of approximately 27%[80]. Segment Performance - Revenue from external customers for the Simplicity and MyBill.sg segments reached SGD 17,145,049, up from SGD 12,936,080 in the previous year, representing a growth of approximately 32.5%[69]. - The total revenue from the Starlight segment was SGD 659,083, compared to SGD 1,087,897 in the previous year, indicating a decline of about 39.4%[69]. - The reported segment profit for Simplicity and MyBill.sg was SGD 6,021,440, an increase from SGD 4,075,815, which is a growth of about 47.9%[69]. - Simplicity total revenue increased by 38.7% to SGD 16,263,814 for the nine months ended February 28, 2022, compared to SGD 11,721,810 for the same period in 2021[92]. - Project revenue for Simplicity grew by 47.9%, driven by the delivery of smart property management systems for the Housing Development Board of Singapore and commercial property management systems for Charoen Pokphand Group in Thailand[93]. - Starlight project revenue fell by 47.8%, significantly impacted by COVID-19 and new rental regulations in Singapore[100]. - Maintenance service revenue for Starlight decreased by 41.4%, reflecting the negative impact of reduced project income[100]. Financial Management and Reporting - The financial statements were prepared in accordance with International Financial Reporting Standards (IFRS), ensuring compliance and transparency[31]. - The group has adjusted the financial statements of subsidiaries to align accounting policies with other members of the group[33]. - The group recognizes rental liabilities as the present value of unpaid lease payments[42]. - Revenue from operating leases is recognized on a straight-line basis over the lease term[49]. - The group assesses control over subsidiaries based on the ability to influence returns and risks associated with those investments[39]. - The company has a systematic approach to recognizing government grants, confirming them when there is reasonable assurance of receipt and compliance with conditions[60]. Shareholder Information - The number of issued ordinary shares increased from 397,880,496 as of May 31, 2021, to 402,900,738 as of February 28, 2022[85]. - Liu Yijun holds 45,572,000 shares, representing 11.31% of the total issued shares as of February 28, 2022[124]. - Wang Ruixing holds 22,750,000 shares, representing 5.65% of the total issued shares as of February 28, 2022[124]. - BAF Spectrum Pte. Ltd. owns 28,698,162 shares, accounting for 7.12% of the total issued shares[127]. - Majuven Fund 1 Ltd. holds 36,528,219 shares, which is 9.07% of the total issued shares[127]. - OWW Investments III Limited owns 20,873,307 shares, representing 5.18% of the total issued shares[127]. - Keppel Corporation Limited holds 36,723,000 shares, accounting for 9.11% of the total issued shares[127]. - The company has adopted two pre-IPO share option plans to incentivize management and key personnel[131]. - A total of 4,075,390 options have been granted to four senior management personnel, which are exercisable[131]. - No share options have been granted, exercised, or canceled under the post-IPO share option plan since its adoption[132]. Dividends and Other Income - The company has not declared any dividends for the nine months ended February 28, 2022, consistent with the previous year[20]. - The company recorded other income of SGD 90,587 for the nine months ended February 28, 2022, down from SGD 717,157 in the previous year, indicating a decline of about 87%[71]. Market and Future Outlook - The company is focused on software development and providing enterprise application solutions, indicating potential for future growth in these areas[28]. - The company remains cautiously optimistic about Simplicity and SpaceMonster despite geopolitical uncertainties affecting market recovery[107].
安科系统(08353) - 2022 Q3 - 季度财报