Financial Performance - The group recorded revenue of approximately SGD 6.5 million for the nine months ended September 30, 2022, a decrease of about 37.8% compared to SGD 10.4 million in the same period last year[6]. - Gross profit for the period was approximately SGD 4.2 million, down about 38.6% from SGD 6.9 million in the previous year[7]. - The group reported a net loss of approximately SGD 1.2 million after tax, compared to a net loss of SGD 0.9 million in the same period last year[7]. - In Q3 2022, the group achieved revenue of SGD 2.3 million, lower than SGD 3 million in the same quarter last year, but recorded a slight profit of SGD 0.03 million after tax, compared to a net loss of SGD 0.37 million in Q3 2021[8]. - The decline in revenue was primarily due to the closure of four general medical clinics, which significantly reduced service-related income[7]. - For the nine months ended September 30, 2022, the group's revenue decreased by approximately SGD 3.9 million or 37.8% to about SGD 6.5 million compared to the same period in 2021[21]. - The company reported a loss attributable to equity holders of SGD 1,177,749 for the nine months ended September 30, 2022, compared to a loss of SGD 882,090 for the same period in 2021[25]. - Basic loss per share for the nine months ended September 30, 2022, was SGD (0.19), compared to SGD (0.17) for the same period in 2021[25]. - The group recorded a loss of approximately SGD 1.2 million for the period, an increase of SGD 0.3 million compared to the same period last year[38]. Equity and Cash Position - The company had total equity of SGD 15,593,032 as of January 1, 2022, which decreased to SGD 14,414,630 by September 30, 2022[14]. - As of September 30, 2022, the group's cash and cash equivalents were approximately SGD 8.4 million, down from SGD 13.3 million as of December 31, 2021[41]. - The capital-to-debt ratio as of September 30, 2022, was approximately 6.1%, down from 9.9% as of December 31, 2021[42]. Operational Changes and Strategies - The group is focusing on restructuring its clinic operations and controlling costs, which have shown positive results despite the revenue decline[8]. - The flagship clinic in Robertson was temporarily closed for renovations aimed at improving patient experience and brand perception[8]. - The group plans to expand its revenue base by entering new businesses related to online healthcare education and pepper trading[30]. - The company continues to provide a one-stop solution for patients, including diagnostic and treatment services tailored to individual needs[28]. - The group operates medical treatment centers and provides management consulting services, with a focus on healthcare in Singapore[16]. Dividends and Shareholder Information - The board has resolved not to declare any dividends for the period, consistent with the previous year[9]. - As of September 30, 2022, Dr. Chen holds 350,000,000 shares, representing 56.09% of the company's issued share capital of 624,000,000 shares[60]. - Cher Sen Holdings Limited, wholly owned by Dr. Chen, is the direct shareholder holding 350,000,000 shares, also representing 56.09%[64]. - No stock options were exercised or canceled during the reporting period, and there are no other interests in competing businesses by directors or controlling shareholders[65]. Audit and Compliance - The Audit Committee was established on May 18, 2018, and consists of two independent non-executive directors[67]. - The main responsibilities of the Audit Committee include recommending the appointment and removal of external auditors and overseeing the financial reporting process[67]. - The Audit Committee has reviewed the unaudited condensed consolidated financial statements and believes they comply with applicable accounting standards and legal requirements[67]. - The current chairman of the Audit Committee is Mr. Yang Dequan, appointed on August 1, 2021[67]. - The report was issued on November 3, 2022, by the Chairman and Executive Director, Dr. Chen Zhixian[67].
REPUBLIC HC(08357) - 2022 Q3 - 季度财报