Financial Performance - The group recorded revenue of SGD 2.89 million for the three months ended March 31, 2023, an increase of approximately 27.8% compared to SGD 2.06 million in the same period last year[5]. - Gross profit for the period was SGD 1.8 million, up approximately 33.8% from SGD 1.3 million in the previous year[6]. - The group reported a post-tax net loss of approximately SGD 0.1 million, a significant reduction from a net loss of approximately SGD 0.7 million in the same period last year[6]. - The group’s total comprehensive loss for the period attributable to owners was SGD 104,656, compared to a loss of SGD 659,403 in the previous year[10]. - Revenue for the first quarter of 2023 increased by approximately SGD 0.57 million or 27.8% to about SGD 2.89 million compared to SGD 2.06 million in the same period last year[34]. - Treatment services revenue was SGD 1,568,840, medical examination services revenue was SGD 709,705, and consultation services revenue was SGD 348,069, contributing approximately 54.2%, 24.5%, and 12.0% to total revenue respectively[19]. - Gross profit increased by approximately SGD 0.45 million to about SGD 1.8 million, while gross margin decreased from approximately 64.8% to 62.2% due to lower profit margins from pepper trading[35]. - The net cash generated from operating activities was approximately -SGD 0.01 million for the period, an improvement from -SGD 0.7 million for the previous year[46]. Business Strategy and Operations - The decrease in net loss was primarily due to the sale of two businesses in February 2022, allowing the group to focus on developing other existing business opportunities[6]. - Management is optimistic about continued revenue growth, especially with the resumption of international travel and the lifting of COVID-19 border measures[6]. - The company plans to enhance service quality and expand its online health services to increase brand influence and explore new business opportunities[30]. - The acquisition of three entities for SGD 286,594 is part of the company's strategy to develop healthcare-related education business, expected to be completed by April 30, 2023[32]. - The group operates medical treatment centers and provides management consulting services, alongside pepper trading and education-related businesses[14]. Financial Position and Equity - The group’s total equity attributable to owners as of March 31, 2023, was SGD 14.01 million, reflecting a decrease from the previous year due to accumulated losses[12]. - As of March 31, 2023, the group's cash and cash equivalents were approximately SGD 10.7 million, slightly down from SGD 10.8 million as of December 31, 2022, with no bank borrowings reported[45]. - The capital debt ratio as of March 31, 2023, was 4.93%, a decrease from 5.7% as of December 31, 2022, with lease liabilities amounting to approximately SGD 0.69 million[46]. - The employee count increased to 43 as of March 31, 2023, from 39 as of December 31, 2022, with all employees being full-time[44]. Dividends and Shareholder Information - The board has resolved not to declare any dividends for the period, consistent with the previous year[7]. - As of March 31, 2023, Dr. Chen holds 350,000,000 shares, representing 56.09% of the total issued shares of 624,000,000[64]. - Cher Sen Holdings Limited, wholly owned by Dr. Chen, is the direct shareholder with 350,000,000 shares, accounting for 56.09%[69]. - Dr. Chen is the beneficial owner of 100% of Cher Sen's shares, which indicates a strong control over the company[66]. - No other directors or executives hold any interests in the company's shares or related securities as of March 31, 2023[65]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements and confirmed compliance with applicable accounting standards[73]. - The company has established an audit committee to oversee financial reporting and risk management processes[73]. - There are no reported interests or conflicts of interest from directors or controlling shareholders in competing businesses[71]. - The financial disclosures have been deemed sufficient and compliant with GEM listing rules and other legal requirements[73].
REPUBLIC HC(08357) - 2023 Q1 - 季度财报