Financial Performance - Revenue for Q3 2022 was SGD 2,373,706, a significant increase of 149.9% compared to SGD 950,387 in Q3 2021[6] - The gross loss for Q3 2022 was SGD 187,434, improved from a gross loss of SGD 1,481,947 in Q3 2021[6] - Total comprehensive loss for the nine months ended September 30, 2022, was SGD 5,044,414, compared to SGD 4,336,037 for the same period in 2021[6] - The company reported a pre-tax loss of SGD 1,062,564 for Q3 2022, an improvement from a pre-tax loss of SGD 2,219,568 in Q3 2021[6] - Basic loss per share for Q3 2022 was SGD (0.22), an improvement from SGD (0.46) in Q3 2021[6] - For the nine months ended September 30, 2022, the company reported unaudited revenue of approximately SGD 6,017,000, a decrease of 59.6% compared to SGD 14,903,000 in 2021[34] - The net loss for the nine months ended September 30, 2022, was approximately SGD 5,005,000, compared to a loss of SGD 4,327,000 in 2021, representing an increase in loss of 15.6%[34] - Basic loss per share for the nine months ended September 30, 2022, was SGD (1.04), compared to SGD (0.90) for the same period in 2021, indicating a deterioration in performance[30] - Gross loss for the nine months ended September 30, 2022, was approximately SGD 2,392,000, compared to SGD 1,516,000 in 2021, reflecting increased cost pressures[34] Revenue Sources - The revenue from steel structure services for the three months ended September 30, 2022, was SGD 2,373,706, compared to SGD 950,387 for the same period in 2021, representing a 149.5% increase[16] - For the nine months ended September 30, 2022, the revenue from steel structure services was SGD 6,017,105, down 59.7% from SGD 14,903,404 in the same period of 2021[16] - Major clients contributing over 10% of total revenue included Client I with SGD 2,618,723 and Client II with SGD 3,009,380 for the nine months ended September 30, 2022[19] - The total revenue for the three months ended September 30, 2022, was entirely generated from operations in Singapore, amounting to SGD 2,373,706[20] Expenses and Cost Management - Administrative expenses for the nine months ended September 30, 2022, were SGD 2,610,804, a decrease from SGD 2,874,128 in the same period of 2021[6] - The company reported a total employee cost of SGD 2,541,650 for the nine months ended September 30, 2022, down from SGD 3,051,002 in the same period of 2021[24] - Sales and administrative expenses for the nine months ended September 30, 2022, were approximately SGD 2,741,000, a decrease from SGD 3,006,000 in 2021, indicating cost management efforts[34] - The company received government grants totaling SGD 147,564 for the nine months ended September 30, 2022, down from SGD 268,963 in the same period of 2021[21] Market Outlook and Strategy - The company continues to focus on expanding its steel structure services for various building types, including industrial and commercial buildings[9] - The financial results reflect ongoing challenges in the market, but the company is committed to improving operational efficiency and exploring new opportunities[9] - The company plans to expand capacity to meet higher demand and strengthen its market position in the Singapore steel structure industry[45] - The construction industry in Singapore is expected to be driven by significant infrastructure projects over the next decade, which will increase demand for steel structures[45] - The overall construction demand in Singapore for 2022 is expected to reach between SGD 27 billion and SGD 32 billion, reflecting anticipated project awards for the year[49] - The company aims to enhance its market position in the steel structure industry in Singapore by increasing capacity and hiring more staff[49] - The company will continue to manage expenses prudently and review business strategies to identify opportunities[47] Corporate Governance - The company adopted a stock option plan on November 2, 2017, aimed at attracting, retaining, and rewarding eligible individuals[65] - As of September 30, 2022, there were no unexercised stock options under the plan, and no options have been granted, exercised, canceled, or lapsed since its adoption[65] - There were no significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures for the nine months ended September 30, 2022[65] - No significant events occurred after the nine months ended September 30, 2022, up to the report date[67] - The audit committee, established on June 21, 2017, consists of three independent non-executive directors and is responsible for providing independent opinions on financial reporting procedures and risk management systems[68] - The audit committee reviewed the unaudited performance for the nine months ended September 30, 2022, and provided feedback and recommendations[69]
高原之宝(08402) - 2022 Q3 - 季度财报