Financial Performance - For the three months ended March 31, 2022, the group's revenue was approximately SGD 6,668,000, a decrease of about SGD 424,000 or 6.0% compared to the same period in 2021[6] - The loss attributable to owners of the company for the three months ended March 31, 2022, was approximately SGD 1,733,000, an increase of about SGD 1,287,000 primarily due to a decrease in gross profit and recognition of share-based payments[6] - The gross profit for the three months ended March 31, 2022, was SGD 114,293, down from SGD 487,142 in the same period of 2021[7] - The basic and diluted loss per share for the three months ended March 31, 2022, was SGD 0.0022, compared to SGD 0.0007 for the same period in 2021[7] - The company reported a pre-tax loss of SGD 1,732,592 for the three months ended March 31, 2022, compared to a loss of SGD 446,048 in the same period in 2021[33] - The group recorded a loss of approximately SGD 1,733,000 for the three months ended March 31, 2022, an increase of about SGD 1,287,000 compared to a loss of approximately SGD 446,000 for the same period in 2021[49] Revenue Breakdown - Revenue from truck transportation services for the three months ended March 31, 2022, was SGD 5,552,864, down from SGD 5,782,270 in the same period of 2021[21] - Revenue from consolidation services for the three months ended March 31, 2022, was SGD 1,115,036, compared to SGD 1,310,126 in the previous year[21] - The revenue from truck transportation services decreased by approximately SGD 229,000 to SGD 5,553,000, representing a decline of about 4.0% due to reduced customer demand[42] - The revenue from consolidation services decreased by approximately SGD 195,000 or about 14.9% due to a decrease in business volume[43] Expenses - Administrative expenses increased to SGD 1,964,750 for the three months ended March 31, 2022, compared to SGD 1,244,794 in the previous year[7] - Administrative expenses increased by SGD 720,000 to approximately SGD 1,965,000 for the three months ended March 31, 2022, compared to SGD 1,245,000 for the same period in 2021, mainly due to share-based payments recognized[46] - As of March 31, 2022, the total employee costs, including directors' remuneration, amounted to approximately SGD 3,005,000, compared to SGD 2,826,000 for the same period in 2021[53] Equity and Dividends - The company's total equity as of March 31, 2022, was SGD 20,089,025, a decrease from SGD 19,381,000 as of March 31, 2021[10] - The company did not recommend any dividend distribution for the three months ended March 31, 2022[6] - The company did not recommend any dividend for the three months ended March 31, 2022, consistent with the previous year[36] - The company did not recommend the payment of dividends for the three months ended March 31, 2022, considering overall operational performance and financial condition[74] Other Income and Financing - Total financing costs for the three months ended March 31, 2022, were SGD 10,494, a significant decrease from SGD 37,186 in the same period in 2021[27] - The company received miscellaneous income of SGD 101,882 for the three months ended March 31, 2022, while government subsidies were not recorded during this period[4] - Other income decreased by approximately SGD 221,000 to about 128,000 for the three months ended March 31, 2022, primarily due to government subsidies received during the previous period[45] Corporate Governance and Compliance - The audit committee has reviewed the financial statements for the three months ended March 31, 2022, and confirmed compliance with applicable accounting standards and GEM listing rules[76] - The company has adopted corporate governance practices in line with GEM listing rules, with a noted exception regarding the roles of the chairman and CEO being held by the same individual[73] Share Options and Capital Commitments - The group has implemented a share option scheme to incentivize and reward eligible participants for their contributions[62] - As of March 31, 2022, the total number of stock options granted was 113,664,000, with 74,624,000 options remaining unexercised, representing approximately 9.11% of the company's issued shares[63] - The group has no capital commitments as of March 31, 2022[51] Market Outlook and Strategy - The group aims to enhance overall competitiveness and market share in Singapore, with an estimated GDP growth of 3% to 5% expected for the year[52] - The group continues to monitor global trade economics and engage with customers to understand their needs amid ongoing challenges and uncertainties[52] Shareholder Information - Major shareholders include Wang Hufei with 209,435,000 shares (25.55% ownership), Dai Wangfei with 79,000,000 shares (9.64% ownership), and Ventris Global Limited with 58,205,000 shares (7.10% ownership)[58] COVID-19 Impact - The management is closely monitoring the ongoing COVID-19 situation, which has significantly impacted business operations, although the financial effects remain unquantified[70] - The company has not reported any COVID-19 infections among employees as of the report date[70]
春能控股(08430) - 2022 Q1 - 季度财报