Financial Performance - Revenue for Q1 2022 was SGD 3,074,519, a decrease of 58.8% compared to SGD 7,459,722 in Q1 2021[7] - Gross loss for the quarter was SGD 105,340, compared to a gross profit of SGD 206,322 in the same period last year[7] - The net loss for the period was SGD 937,976, an increase of 26.3% from a net loss of SGD 742,574 in Q1 2021[7] - Total comprehensive loss for the quarter amounted to SGD 976,968, compared to SGD 751,223 in Q1 2021[7] - Basic loss per share for Q1 2022 was SGD 0.20, compared to SGD 0.15 in Q1 2021[7] - Other income for the quarter was SGD 99,555, down from SGD 141,276 in Q1 2021, representing a decline of 29.5%[7] - The company incurred a loss of approximately SGD 938,000 for the three months ended March 31, 2022, compared to a loss of approximately SGD 743,000 in the same period of 2021, an increase of about SGD 195,000[32] - The net loss for the three months ended March 31, 2022, was approximately SGD 938,000, compared to a net loss of SGD 743,000 for the same period in 2021, reflecting the ongoing impact of COVID-19 and market fluctuations[41] Expenses Management - Administrative expenses decreased to SGD 844,338 from SGD 979,409 in the previous year, reflecting a reduction of 13.8%[7] - Financing costs decreased to SGD 52,986 from SGD 64,332, a reduction of 17.5%[7] - Total employee costs for the three months ended March 31, 2022, were approximately SGD 850,697, a decrease from SGD 1,066,697 in the same period of 2021[25] - The company reported a decrease in sales and administrative expenses to approximately SGD 879,000 for the three months ended March 31, 2022, from approximately SGD 1,026,000 in the same period of 2021[32] - The total employee cost for the three months ended March 31, 2022, was approximately SGD 851,000, down from SGD 1,067,000 for the same period in 2021[38] Business Operations - The company continues to focus on providing design, supply, manufacturing, and installation services for steel structures[10] - The company experienced a significant reduction in revenue primarily due to the ongoing impact of the COVID-19 pandemic and slow progress on new projects[31] - The company faced challenges such as higher subcontractor costs and a shortage of foreign workers due to Singapore's entry restrictions[31] - The company aims to expand capacity and hire more staff to strengthen its market position in the Singapore steel structure industry, driven by ongoing infrastructure projects[42] Corporate Governance - The financial results were approved by the board on May 12, 2022, and are presented in Singapore dollars[12] - The company did not recommend any dividend for the three months ended March 31, 2022, consistent with the previous year[26] - The company has no contingent liabilities or capital commitments as of March 31, 2022[36][37] - The board is responsible for ensuring effective risk management practices to mitigate operational risks[44] - The company has maintained compliance with the corporate governance code as of March 31, 2022[58] Shareholder Information - As of March 31, 2022, the major shareholder, Mr. Wang Qingyou, holds approximately 82.95% of the issued share capital[49] - As of March 31, 2022, Broadbville Limited holds 331,790,000 shares and 66,358,000 related shares, representing approximately 82.95% of the issued share capital[53] - Publicly held shares account for at least 25% of the total issued share capital as of the last practicable date before the report's publication[67] Market Outlook - The economic outlook for 2022 indicates continued growth, albeit with imbalances, and external demand in Singapore has shown slight deterioration due to COVID-19 restrictions[46] - The ongoing global supply chain issues and rising energy prices are expected to exacerbate inflationary pressures[47] Audit and Compliance - The audit committee reviewed the unaudited results for the three months ended March 31, 2022, and provided recommendations[69] - No significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures occurred during the three months ended March 31, 2022[65] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2022[56] - No share options were granted under the share option scheme since its adoption on November 2, 2017, and no options have been exercised, cancelled, or lapsed[61] - No significant events occurred after the financial period ended March 31, 2022, up to the report date[66]
高原之宝(08402) - 2022 Q1 - 季度财报