Financial Performance - For the three months ended March 31, 2023, the revenue was SGD 7,494,000, a decrease of 8.9% compared to SGD 8,228,000 for the same period in 2022[4] - Gross profit for the same period was SGD 2,565,000, representing a gross margin of 34.2%, compared to SGD 2,224,000 in 2022[4] - The net profit attributable to owners of the company for the first quarter of 2023 was SGD 704,000, compared to a loss of SGD 185,000 in the same period last year[4] - Revenue for the three months ended March 31, 2023, decreased by approximately SGD 0.7 million or 8.5% to approximately SGD 7.5 million compared to SGD 8.2 million for the same period in 2022[22] - Gross profit increased by approximately SGD 0.3 million or 13.6% to approximately SGD 2.5 million, with the gross profit margin rising from approximately 27.0% to 34.2% due to higher sales of frozen products[24] - The company recorded a profit of approximately SGD 704,000 for the three months ended March 31, 2023, compared to a loss of approximately SGD 185,000 for the same period in 2022[29] Expenses and Costs - The company reported a financing cost of SGD 87,000, slightly down from SGD 91,000 in the previous year[4] - The company’s administrative and other operating expenses decreased to SGD 983,000 from SGD 1,673,000 in the prior year, reflecting a reduction of 41.2%[4] - Administrative and other operating expenses decreased by approximately SGD 0.7 million or 41.2% to approximately SGD 1.0 million, attributed to reduced salaries and other operating costs[27] - Financing costs decreased by approximately SGD 4,000 or 4.4% to approximately SGD 87,000, primarily due to the redemption of some promissory notes prior to the period[28] Shareholder Information - The company’s total equity attributable to owners as of March 31, 2023, was SGD 19,577,000, a slight decrease from SGD 19,623,000 at the beginning of the year[6] - The weighted average number of ordinary shares increased to 83,092,000 shares for the three months ended March 31, 2023, compared to 60,398,000 shares in the previous year[18] - As of March 31, 2023, the total number of issued shares is 83,092,000[37] - Mr. Chen Shao Yi holds 11,760,000 shares, representing 14.15% of the total shares[33] - Mr. Ni Chao Xiang and Ms. Yang Bao Zhu each hold 13,107,000 shares, accounting for 15.78% of the total shares[33] - The major shareholder, Ma You Cheng Investment Limited, holds 5,795,000 shares, which is 8.79% of the total shares[36] Corporate Governance and Compliance - The company is committed to maintaining compliance with the GEM listing rules and ensuring the accuracy of its financial reporting[10] - The company has complied with the corporate governance code during the three months ended March 31, 2023[52] - The audit committee has reviewed the group's financial statements for the first quarter ended March 31, 2023, ensuring compliance with applicable accounting standards and regulations[55] Strategic Focus and Future Plans - The company continues to focus on its core business in food and healthcare product supply, with plans for market expansion and new product development[9] - The company continues to explore diverse opportunities to broaden revenue sources and enhance market share despite challenges from the global economy and COVID-19 impacts[20] Stock Options and Incentive Plans - The stock option plan allows for a maximum of 1,580,000 shares to be issued, which is 1.9% of the total issued shares as of March 31, 2023[44] - The exercise price for stock options is set at a minimum of HKD 0.71, based on the average closing price prior to the offer date[45] - The stock option plan was adopted on August 30, 2017, to attract and retain qualified personnel[40] - No stock options were granted, exercised, canceled, or expired during the reporting period[43] - The company has a remaining authorization limit of 275,200 stock options available for grant under the plan[44] - The company adopted a share incentive plan on September 14, 2021, aimed at rewarding and retaining qualified participants contributing to the group's growth[47] - As of March 31, 2023, the trustee has utilized approximately HKD 4,556,000 to purchase 5,795,000 shares, representing 7.0% of the issued shares[48] - The maximum number of shares that can be awarded to any selected participant in a twelve-month period is capped at 1% of the total issued shares[48] - As of March 31, 2023, the number of shares available for incentive awards under the plan is 2,514,200 shares[50] - The potential number of shares to be issued under the plan and related options for the three months ended March 31, 2023, is 7,375,000 shares, which is 8.9% of the weighted average number of shares issued during the period[50] Dividends and Liabilities - The company did not recommend any dividend for the three months ended March 31, 2023, consistent with the previous year[16] - Contingent liabilities related to performance guarantees issued to suppliers amounted to SGD 942,000 as of March 31, 2023, slightly up from SGD 938,000 in 2022[17] - No significant investments, acquisitions, or disposals of subsidiaries or associates occurred during the period[32] - The company did not purchase, sell, or redeem any of its listed securities during the period[39]
COOL LINK(08491) - 2023 Q1 - 季度财报