Financial Performance - For Q3 2022, the company reported revenue of SGD 8,488,000, a decrease of 2.2% from SGD 8,680,000 in Q3 2021[18] - Gross profit for Q3 2022 was SGD 1,966,000, down 12.1% from SGD 2,238,000 in Q3 2021[18] - The company incurred a loss before taxation of SGD 30,000 in Q3 2022, compared to a profit of SGD 225,000 in Q3 2021[18] - Total comprehensive income for the period was SGD 70,000, a decline of 57.4% from SGD 165,000 in the same period last year[18] - Basic and diluted earnings per share for Q3 2022 were 0.01 cents, down from 0.02 cents in Q3 2021[18] - Profit attributable to equity holders for Q3 2022 was SGD 70,000, down from SGD 165,000 in Q3 2021[84] - Profit for the Relevant Period was $70,000, a decrease of 57.6% compared to the Previous Period, mainly due to higher operating costs and changes in other income[99] - Cost of sales amounted to $6.5 million, an increase of $0.1 million or 1.2% compared to $6.4 million in the Previous Period[110] - Profit attributable to Shareholders was $70,000 in the Relevant Period, down from $165,000 in the Previous Period[110] Revenue Breakdown - Revenue from tissue products was SGD 7,457,000, slightly down from SGD 7,467,000 in the previous year[66] - Revenue from hygiene-related products decreased by 27.8% to SGD 619,000 from SGD 857,000 in Q3 2021[66] - Revenue for the Relevant Period was $8.5 million, a decrease of 2.2% compared to the Previous Period, primarily due to lower orders from corporate customers affected by COVID-19[99] - Sales of hygiene-related products decreased by $238,000, representing a decrease of 27.8% due to the COVID-19 pandemic[110] - Sales of other products increased by $56,000, representing an increase of 15.7%[110] Expenses and Costs - Selling and distribution expenses decreased to SGD 1,081,000 in Q3 2022 from SGD 1,067,000 in Q3 2021, reflecting a slight increase of 1.3%[18] - Administrative expenses were SGD 1,010,000 in Q3 2022, a decrease from SGD 1,122,000 in Q3 2021, indicating a reduction of 10%[18] - Staff costs for Q3 2022 were SGD 1,349,000, a decrease from SGD 1,474,000 in Q3 2021[73] - The increase in ocean freight charges significantly impacted operating costs, leading to higher cost of goods sold, which is considered a short-term consequence of COVID-19[99] - The company adjusted selling prices to match the cost of inventory as part of a cost-plus pricing policy[110] Strategic Focus and Future Outlook - The company continues to focus on market expansion and product development strategies to enhance future performance[18] - The company plans to continue evaluating development opportunities to strengthen its competitive advantage and market position[102] - The company aims to monitor new tissue product developments and source competitively priced tissue products to enhance its offerings[102] - The company is optimistic about recovering revenue as most COVID-19 restrictions were lifted on March 29, 2022, and April 26, 2022[102] - The company is planning to expand its market presence in Southeast Asia, targeting a market share increase of CC% by the end of 2023[181] - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance production capacity by DD%[182] - The company has set a performance guidance of achieving a net profit margin of EE% for the next fiscal year[179] - The management emphasized a commitment to sustainability, aiming for a reduction in carbon footprint by HH% over the next five years[185] Corporate Governance - The company has adopted and complied with the Corporate Governance Code, with a noted deviation regarding the roles of chairman and chief executive[156] - Mr. LS Chua serves as both chairman and chief executive officer, a decision supported by the Board due to his contributions and familiarity with operations[157] - The Audit Committee consists of three independent non-executive Directors, with Ms. Lye Kheng Joke Sylvia serving as the chairlady[159] - The company believes that the dual role of the Chairman and CEO is in the best interest of the Group, given the contributions of Mr. Chua Liang Sie[158] - The company will continue to review the appropriateness of separating the roles of Chairman and CEO as necessary[158] Operational Resilience - The Group's operations are not significantly affected by seasonality, maintaining stable revenue streams[70] - There were no interruptions to the supply of inventory despite the COVID-19 pandemic[110] - The company maintains close communication with vendors to ensure a continuous supply of tissue products[102] - The overall strategy during the pandemic is to avoid self-inflicted interruptions to operations, with all employees vaccinated against COVID-19[102] Shareholder Information - YJH Group Limited holds a long position of 576,000,000 shares, representing 72% of the total issued shares[132] - Mr. Chua Liang Sie owns approximately 82.76% of YJH Group Limited, while Mr. Chua Liang Chui owns 17.24%[135] - No share options have been granted under the Share Option Scheme since its adoption, and there are no outstanding options as of the end of the Relevant Period[141] - The Company did not redeem any of its listed securities during the Relevant Period[143] - All Directors confirmed compliance with the Required Standard of Dealings during the Relevant Period[144] - A Deed of Non-competition has been established to prevent Controlling Shareholders from engaging in competing businesses[145]
日光控股(08451) - 2022 Q3 - 季度财报