Financial Performance - For the three months ended September 30, 2022, the revenue was SGD 19,882,000, a slight increase of 1.66% compared to SGD 19,556,000 for the same period in 2021[13]. - The total comprehensive loss for the year was SGD 1,285,000, compared to a loss of SGD 337,000 in the previous year, indicating a significant increase in losses[15]. - The basic and diluted loss per share for the year was SGD 0.10, compared to SGD 0.02 in the previous year, reflecting a worsening financial position[15]. - The company reported a comprehensive income of SGD 2.645 million for the nine months ending September 30, 2022, down from SGD 10.643 million for the same period in 2021, reflecting a decrease of approximately 75%[17]. - The company’s revenue for the nine months ending September 30, 2022, was SGD 9,898 million, a decrease from SGD 10,928 million in the same period of the previous year, indicating a decline of approximately 9.4%[17]. - The company’s net loss attributable to owners for the nine months ending September 30, 2022, was SGD 874 million, compared to a net loss of SGD 185 million for the same period in 2021, indicating a significant increase in losses[17]. - The group recorded a total loss of approximately SGD 1.1 million in 2022, compared to a loss of about SGD 0.2 million in 2021, reflecting an increase in employee benefits and depreciation expenses[64]. Revenue and Expenses - The cost of materials used for the three months was SGD 1,514,000, up from SGD 1,205,000 in the same period last year, representing a 25.6% increase[13]. - Employee benefits expenses for the three months were SGD 1,666,000, an increase of 15.2% from SGD 1,446,000 in the previous year[13]. - The total employee benefits expense for the nine months ended September 30, 2022, was SGD 4,612 thousand, compared to SGD 3,860 thousand in the same period of 2021, marking an increase of 19.5%[35]. - Financing costs for the nine months ended September 30, 2022, totaled SGD 353 thousand, an increase from SGD 287 thousand in the same period of 2021, representing a rise of 22.9%[33]. - The company reported a total depreciation expense of SGD 2,500 thousand for the nine months ended September 30, 2022, compared to SGD 1,831 thousand in the same period of 2021, reflecting an increase of 36.6%[35]. - Other expenses rose by approximately SGD 0.7 million from about SGD 1.8 million in 2021 to approximately SGD 2.5 million in 2022, driven by increased vehicle insurance and road tax costs[61]. Strategic Focus and Development - The company plans to focus on market expansion and new product development to improve future performance[13]. - The management highlighted ongoing efforts in research and development to enhance product offerings and competitiveness in the market[13]. - The company plans to focus on expanding its market presence in Singapore and China, leveraging its existing service capabilities in automotive maintenance and repair[20]. - The company is exploring new product development initiatives aimed at enhancing service offerings and improving customer satisfaction[20]. - The company is assessing potential mergers and acquisitions to strengthen its market position and diversify its service portfolio[20]. - The company aims to improve operational efficiency through strategic investments in technology and process optimization[20]. - The company aims to leverage new technologies and equipment to prepare for challenges in new market developments and new vehicle types[52]. - The company is seeking new business opportunities in e-commerce to adapt to the shift in demand from physical stores[50]. Segment Performance - The company operates four reportable segments: automotive after-sales services, automotive leasing services, automotive supply business, and education business services[30]. - Service revenue for Q3 2022 was SGD 3,225 thousand, up from SGD 3,073 thousand in Q3 2021, representing a growth of 4.9%[29]. - Automotive supply revenue reached SGD 15,742 thousand in Q3 2022, slightly down from SGD 15,778 thousand in Q3 2021, indicating a decrease of 0.2%[29]. - Total revenue for the nine months ended September 30, 2022, was SGD 61,814 thousand, compared to SGD 34,355 thousand for the same period in 2021, reflecting an increase of 80.5%[29]. - Automotive supply revenue increased by approximately SGD 26.1 million to about SGD 49.4 million for the nine months ended September 30, 2022, compared to SGD 23.3 million in 2021[47]. - The company's after-sales service revenue rose by approximately SGD 0.5 million, attributed to recovery from COVID-19 control measures[47]. - The automotive rental business revenue increased by approximately SGD 0.6 million compared to the previous year[47]. Corporate Governance and Compliance - The company maintains high standards of corporate governance, adhering to the corporate governance code as per GEM listing rules[85]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ending September 30, 2022, confirming compliance with applicable accounting standards and GEM listing rules[88]. - The company has appointed a compliance advisor, Lux Capital (Hong Kong) Limited, effective from August 15, 2021[87]. - No directors or major shareholders have interests in any competing businesses as of September 30, 2022[79]. - The company has not established any arrangements that would allow directors or senior management to benefit from acquiring shares or securities of the company or its subsidiaries during the nine months ending September 30, 2022[83]. Shareholder Information - The company did not recommend any dividends for the nine months ended September 30, 2022, consistent with the same period in 2021[39]. - The board did not recommend any dividends for the nine months ended September 30, 2022, consistent with the previous year[65]. - As of September 30, 2022, Red Link holds 378,798,000 shares, representing 44.56% of the total issued shares of 850,000,000[75]. - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the nine months ending September 30, 2022[80]. - The company has not granted any stock options since the adoption of the stock option plan on September 18, 2019, and there are no unexercised options as of September 30, 2022[81]. - The company expresses gratitude to shareholders, business partners, and employees for their support and contributions during the reporting period[92]. Assets and Liabilities - The total assets of the company amounted to SGD 9,338 million as of September 30, 2022, compared to SGD 11,610 million as of September 30, 2021, representing a decline of about 19.6%[17]. - The company’s liabilities stood at SGD 8,913 million as of September 30, 2022, compared to SGD 10,643 million as of September 30, 2021, showing a reduction of about 16.5%[17]. - As of September 30, 2022, the group's bank borrowings were secured by corporate guarantees and related assets[66].
傲迪玛汽车(08418) - 2022 Q3 - 季度财报