Financial Performance - The group's revenue for the three months ended March 31, 2022, was 30,083 thousand MYR, a decrease of 39% compared to 49,315 thousand MYR in the same period of 2021[3] - Gross profit for the same period was 8,223 thousand MYR, down 69% from 26,289 thousand MYR year-on-year[3] - The net profit for the period was 2,911 thousand MYR, a decline of 69% compared to 9,435 thousand MYR in the previous year[4] - The total comprehensive income for the period was 3,295 thousand MYR, down 21% from 4,178 thousand MYR in the same quarter of 2021[4] - Operating profit for the group was 2,262 thousand MYR, down from 6,457 thousand MYR in the previous year, reflecting a decrease of about 65%[18] - The company reported a net profit attributable to shareholders of 2,911 thousand MYR for the quarter, compared to 6,456 thousand MYR in the same quarter of the previous year, marking a decline of approximately 55%[24] - The company reported a net profit of approximately 1.3 million MYR for the period, compared to zero in the same period of 2021[60] - The profit for the period was RM 2.9 million, a decrease of RM 6.5 million compared to RM 9.4 million in the same period last year[64] Revenue Breakdown - The production segment generated revenue of 30,019 thousand MYR, while the retail segment reported no revenue, indicating a shift in focus towards manufacturing[18] - Revenue from the Asia-Pacific region was 21,449 thousand MYR, a significant drop from 41,260 thousand MYR in the prior year, indicating a decrease of around 48%[28] - Major customers contributed significantly to revenue, with Customer A generating 4,221 thousand MYR and Customer B contributing 3,395 thousand MYR during the reporting period[29] - The production segment's revenue contribution was approximately 32.1% from elastic textiles, 44.1% from webbing, and 23.8% from other products[47] - Domestic sales accounted for approximately 38.6% of the production segment's total revenue, while export sales accounted for 61.4%[47] - The company experienced a significant decrease in revenue from the securities brokerage business, which contributed 16.0 million MYR in the previous year but zero in the current period[54] Expenses and Costs - The group incurred administrative expenses of 4,749 thousand MYR, a decrease of 36% from 7,377 thousand MYR year-on-year[3] - The company incurred financing costs of 119 thousand MYR, which impacted overall profitability[18] - Sales and distribution costs for the period were RM 1.3 million, a decrease of RM 2.6 million or 66.7% compared to RM 3.9 million in the same period last year[62] - Administrative expenses amounted to RM 4.7 million, down RM 2.7 million or 36.5% from RM 7.4 million in the previous year, primarily due to the sale of the securities brokerage business[63] - The sales cost for the period was approximately 21.9 million MYR, a decrease of 1.1 million MYR or 4.8% compared to 23.0 million MYR in 2021[56] Strategic Focus and Future Outlook - The group is focused on expanding its market presence and developing new products to enhance revenue streams in the future[9] - The company has established a risk management committee to monitor and assess international sanctions risks[71] - The company is investing in new technology development, allocating 50 million for R&D in the upcoming fiscal year[107] - Market expansion plans include entering two new countries, which are projected to increase market share by 5%[107] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 100 million earmarked for potential deals[107] - A new marketing strategy is being implemented, aiming to increase brand awareness by 30% over the next six months[107] - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 1.32 billion[107] Corporate Governance and Compliance - The company has adhered to corporate governance codes during the reporting period[75] - The company has established an audit committee to oversee financial reporting and internal controls, consisting of three independent non-executive directors[104] - The audit committee reviewed the unaudited consolidated performance for the period and found it compliant with applicable accounting standards and regulations[106] - The company has not reported any significant impact from the adoption of new accounting standards on its financial statements[13] - The company has not engaged in any business activities in sanctioned countries during the period[69] - The company has not identified any conflicts of interest or competition from its directors or controlling shareholders during the reporting period[83] Shareholder Information - PRG Holdings holds a significant stake of 54.19% in the company, amounting to 303,468,000 shares[97] - The company has a total of 560,000,000 shares issued as of March 31, 2022, which is the basis for calculating ownership percentages[86] - The beneficial owner Lua Choon Hann holds 260,000 shares, representing 0.04% of the company[82] - The company’s major shareholder, Jan Ka Yau, owns 55,024,000 shares, which is 9.82% of the total shares[97] - The controlling shareholder confirmed compliance with non-competition agreements during the reporting period[79] Market Conditions - The global economy remains uncertain, with supply chain disruptions and rising raw material costs potentially increasing market volatility[68]
飞霓控股(08480) - 2022 Q1 - 季度财报