Financial Performance - Revenue for the third quarter ended March 31, 2023, was SGD 10,755,137, representing a 124.5% increase compared to SGD 4,789,080 in the same period of 2022[5] - Gross profit for the nine months ended March 31, 2023, was SGD 8,428,175, up 79.5% from SGD 4,691,191 in the previous year[5] - The company reported a net loss of SGD 3,382,405 for the nine months ended March 31, 2023, compared to a net loss of SGD 1,939,608 in the same period of 2022, indicating an increase in losses of 74.5%[5] - Total comprehensive loss for the nine months ended March 31, 2023, was SGD 3,279,007, compared to SGD 1,701,985 in the same period of 2022, reflecting a 92.5% increase in comprehensive losses[6] - The company reported a net loss of SGD 1,416,981 for the three months ended March 31, 2023, compared to a loss of SGD 943,880 in the same period of 2022[22] - The group recorded a net loss attributable to owners of approximately SGD 3.4 million for the period, compared to a net loss of SGD 1.7 million for the nine months ended March 31, 2022[59] Revenue Segments - The revenue is derived from two main segments: Network, Audio, and Communication Systems (NSC) and E-commerce (EC)[18] - E-commerce revenue for the nine months ended March 31, 2023, reached SGD 18,497,431, compared to SGD 3,483,234 for the same period in 2022, marking a significant increase of 431.5%[24] - Revenue from external customers in China for the nine months ended March 31, 2023, was SGD 24,201,562, up from SGD 9,998,244 in the same period of 2022, indicating a growth of 142.5%[27] - The total segment revenue for the nine months ended March 31, 2023, was SGD 30,007,774, compared to SGD 16,800,025 in the same period of 2022, representing an increase of 78.5%[20] Expenses and Costs - Administrative expenses for the nine months ended March 31, 2023, were SGD 5,332,203, which is a 128.3% increase from SGD 2,335,824 in the previous year[5] - The company incurred finance costs of SGD 315,855 for the nine months ended March 31, 2023, which is a 147.8% increase from SGD 127,344 in the previous year[5] - The company recorded a significant increase in material costs, totaling SGD 19.8 million for the nine months ended March 31, 2023, compared to SGD 10.6 million in the previous year[31] - Total employee costs, including directors' remuneration, amounted to SGD 7.0 million for the nine months ended March 31, 2023, compared to SGD 5.0 million for the same period in 2022[31] - Salary expenses increased by approximately SGD 1.0 million or 24.6% to about SGD 4.8 million, driven by operational expansion in the NSC and EC divisions in China[57] Shareholder Information - The basic and diluted loss per share for the nine months ended March 31, 2023, was SGD 0.38, compared to SGD 0.19 in the same period of 2022[6] - The company issued new shares amounting to SGD 9,219,960 during the reporting period[10] - The company did not declare or pay any dividends for the nine months ended March 31, 2023, consistent with the previous year[38] - The company granted a total of 24,000,000 incentive shares to 16 selected participants under the share incentive plan on April 18, 2023, pending acceptance by the participants[87] Operational Developments - The company operates primarily in Singapore and China, focusing on network, audio, and communication systems sales and e-commerce operations[12] - The company’s e-commerce operations have entered a stable growth phase and have become a significant business segment since its expansion in late 2020[41] - The e-commerce division has been providing services for well-known domestic and international brands, including Philips, ASUS, and Moutai, among others[41] - The company is exploring and evaluating potential large-scale audio and communication service projects in Singapore, which may require performance guarantees[66] Financial Position - As of March 31, 2023, the company’s total equity attributable to owners was SGD 17,072,303, down from SGD 19,892,799 at the beginning of the period[8] - The current ratio as of March 31, 2023, was approximately 1.4, down from 2.2 as of June 30, 2022, primarily due to increased trade and other payables and borrowings related to the expansion of e-commerce operations in China[76] - The debt-to-equity ratio as of March 31, 2023, was 51.0%, compared to 30.2% as of June 30, 2022[76] - As of March 31, 2023, the total assets of the group amounted to approximately SGD 48.4 million, with total liabilities and shareholders' equity at approximately SGD 31.4 million and SGD 17.0 million, respectively[76] Corporate Governance - The company has adopted the corporate governance code as per GEM listing rules since its listing on January 16, 2018, and has generally complied with it during the relevant period[125] - The audit committee, established on December 14, 2017, consists of three independent non-executive directors and is responsible for reviewing financial statements and internal controls[127] - The board of directors has adhered to the trading standards and code of conduct regarding securities transactions during the reporting period[89]
ISP GLOBAL(08487) - 2023 Q3 - 季度财报