Financial Performance - Revenue for Q1 2023 reached SGD 22,870,000, an increase of 19.0% compared to SGD 19,085,000 in Q1 2022[11] - Other income and gains amounted to SGD 164,000, up from SGD 113,000 in the same period last year, representing a 45.2% increase[11] - The company reported a loss before tax of SGD 49,000, significantly improved from a loss of SGD 384,000 in Q1 2022[11] - Total comprehensive loss for the period was SGD 84,000, compared to a loss of SGD 398,000 in the previous year[14] - Basic and diluted loss per share for Q1 2023 was SGD (0.01), an improvement from SGD (0.04) in Q1 2022[14] - The company experienced a foreign exchange gain of SGD 47,000 from overseas operations, compared to a gain of SGD 14,000 in the prior year[14] - The total comprehensive income for the period included a loss of SGD (42,000) and a foreign exchange gain of SGD 13,000[18] - The company reported a total comprehensive income of SGD 5,000 for the period[18] - The group reported a loss attributable to owners of the company of SGD 45,000 for the three months ended March 31, 2023, compared to a loss of SGD 326,000 for the same period in 2022, showing an improvement in performance[53] - The group recorded a total loss and comprehensive income of approximately SGD 102,000 in 2023, a significant improvement from a loss of SGD 415,000 in 2022[69] Revenue Breakdown - For the three months ended March 31, 2023, the automotive supply revenue increased by approximately SGD 3.3 million to about SGD 18.4 million, compared to approximately SGD 15.1 million for the same period in 2022[58] - The service revenue for the three months ended March 31, 2023, was SGD 3.414 million, an increase from SGD 3.000 million in the same period of 2022, representing a growth of approximately 13.8%[37] - The automotive rental income for the three months ended March 31, 2023, was SGD 1.018 million, up from SGD 0.804 million in the same period of 2022, reflecting a growth of approximately 26.6%[39] - The total revenue for the group for the three months ended March 31, 2023, was SGD 22.870 million, compared to SGD 19.085 million for the same period in 2022, representing an increase of approximately 14.5%[39] - The group's revenue for the year 2023 was SGD 22.9 million, an increase of approximately SGD 3.8 million compared to SGD 19.1 million in 2022, primarily due to increased sales of passenger car parts and accessories to mainland China[61] Expenses and Costs - Employee benefits expenses increased to SGD 1,519,000 from SGD 1,470,000, reflecting a rise of 3.3%[11] - The cost of materials and inventory changes rose to SGD 19.6 million in 2023 from SGD 16.3 million in 2022, mainly due to increased material costs associated with supplying automotive parts and services to mainland China[62] - Financing costs decreased to SGD 95,000 in 2023 from SGD 108,000 in 2022, mainly due to revised interest rates on short-term loans[67] - The group’s financing costs for the three months ended March 31, 2023, totaled SGD 95,000, a decrease from SGD 108,000 in the same period of 2022, reflecting a reduction of approximately 12.0%[42] Strategic Focus and Future Plans - The company plans to continue focusing on market expansion and new product development to drive future growth[11] - The group aims to enhance its position in the automotive aftermarket services and short-term and long-term leasing businesses in Singapore, while also seeking to expand its market share in mainland China[59] - The group is committed to acquiring new technologies and equipment to prepare for challenges in new market developments and new vehicle types, particularly in the context of Singapore's Green Plan 2030[59] - The group plans to adopt a cautious approach to expansion, focusing on diversifying its market presence in China across various sectors such as biocare, new retail, e-commerce, and franchise management[59] Corporate Governance and Compliance - The financial statements are prepared in accordance with Singapore Financial Reporting Standards and reflect the company's economic characteristics[26] - The audit committee reviewed the unaudited consolidated financial statements for the first quarter of 2023, confirming compliance with applicable accounting standards[93] - The board of directors confirmed adherence to the corporate governance code throughout the reporting period[91] - No directors or major shareholders have interests in any competing businesses during the year 2023[85] Shareholder Information - As of March 31, 2023, major shareholders hold approximately 44.56% of the company's shares, with Red Link International Limited being the largest shareholder[76] - The company reported no dividends for the period of 2023, consistent with the previous year[94] - As of March 31, 2023, the total number of issued shares was 850,000,000[79] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the year 2023[86] - The company expressed gratitude to shareholders and partners for their ongoing support[98]
傲迪玛汽车(08418) - 2023 Q1 - 季度财报