Financial Performance - For the nine months ended September 30, 2022, the group's unaudited revenue was approximately SGD 11.8 million, a decrease of about SGD 3.3 million or 21.9% compared to SGD 15.1 million for the same period in 2021[5] - The group recorded an unaudited loss of approximately SGD 1.0 million for the nine months ended September 30, 2022, compared to a profit of approximately SGD 0.3 million for the same period in 2021[5] - Basic and diluted loss per share for the nine months ended September 30, 2022, was 0.18 Singapore cents, while for the same period in 2021, it was earnings of 0.09 Singapore cents and 0.08 Singapore cents respectively[5] - Gross profit for the nine months ended September 30, 2022, was SGD 1.3 million, down from SGD 3.4 million in the same period of 2021[8] - Operating loss for the nine months ended September 30, 2022, was SGD 0.9 million, compared to an operating profit of SGD 0.6 million for the same period in 2021[8] - Total comprehensive loss for the nine months ended September 30, 2022, was SGD 1.1 million, compared to a total comprehensive income of SGD 0.3 million for the same period in 2021[10] - The group experienced a foreign exchange loss of SGD 0.16 million for the nine months ended September 30, 2022, compared to a gain of SGD 0.088 million in the same period of 2021[10] - Revenue for the nine months ended September 30, 2022, was 11,825 thousand Singapore dollars, a decrease of 21.1% compared to 15,120 thousand Singapore dollars for the same period in 2021[23] - Sales of goods accounted for 11,601 thousand Singapore dollars, down from 14,870 thousand Singapore dollars, representing a decline of 22.8% year-over-year[23] - Total expenses for the nine months ended September 30, 2022, were 12,950 thousand Singapore dollars, a decrease of 11.5% from 14,625 thousand Singapore dollars in the previous year[25] - The cost of goods sold was 10,523 thousand Singapore dollars, down from 11,754 thousand Singapore dollars, indicating a reduction of 10.5%[25] - Other income increased to 107 thousand Singapore dollars from 91 thousand Singapore dollars, reflecting a growth of 17.6%[23] - Financial costs for the nine months ended September 30, 2022, were 110 thousand Singapore dollars, a decrease of 41.2% compared to 187 thousand Singapore dollars in the previous year[29] - The company recognized a total tax expense of 21 thousand Singapore dollars, compared to 125 thousand Singapore dollars in the previous year, marking a significant reduction of 83.2%[29] - The overall gross profit decreased by approximately SGD 2.1 million or 61.8% to about SGD 1.3 million, with a gross profit margin dropping from approximately 22.5% to about 11.0%[53] - Administrative expenses were reduced by approximately SGD 0.6 million or 24.0% to about SGD 1.9 million for the nine months ended September 30, 2022[56] - The sales cost decreased by approximately SGD 1.3 million or 11.0% to about SGD 10.5 million, aligning with the revenue decrease[52] Dividend and Shareholder Information - The board of directors does not recommend the payment of dividends for the nine months ended September 30, 2022, consistent with the previous year[5] - The company did not declare an interim dividend for the nine months ended September 30, 2022, consistent with the previous year[43] - Major shareholders include Ms. Huang with 29.42%, Tianyun Global Limited with 23.47%, and Mr. Xie with 10.84% of the shares[67] - The company has not disclosed any other interests or short positions in its shares as of September 30, 2022[68] Corporate Governance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[76] - The audit committee consists of three independent non-executive directors, responsible for reviewing financial statements and overseeing internal controls[79] - The company’s unaudited consolidated financial information for the nine months ended September 30, 2022, has been discussed and reviewed by the audit committee[82] - The company has maintained high standards of corporate governance to protect shareholder interests and enhance corporate value[76] - The company has not reported any non-compliance incidents regarding the trading standards for directors during the nine months ended September 30, 2022[78] Business Strategy and Outlook - The company continues to focus on the development and sales of disposable medical devices and gaming machines in Singapore and China, respectively[16] - The company continues to focus on cost management strategies to improve profitability amid declining revenues[25] - Future outlook remains cautious due to market conditions, with ongoing assessments of new product development and market expansion opportunities[25] - The company continues to face economic challenges due to inflationary pressures and geopolitical tensions, impacting market stability and demand[48] - The management is committed to exploring new business opportunities to enhance the company's investment portfolio despite the challenging business environment[48] - The company is considering strategic acquisitions to enhance its product offerings and market presence[85] - Cost management strategies have been implemented, aiming for a 3% reduction in operational expenses by the end of the fiscal year[85] - Future guidance indicates a focus on enhancing customer engagement and retention strategies to drive long-term growth[85] Performance and Growth - The company reported a strong performance in Q3 2022, with significant revenue growth compared to the previous quarter[85] - User data showed an increase in active users by 15% year-over-year, reaching a total of 2 million active users[85] - The company provided a positive outlook for Q4 2022, projecting a revenue increase of 10% to 15% compared to Q3 2022[85] - New product launches are expected to contribute an additional $5 million in revenue in the upcoming quarter[85] - The company is investing in new technology development, allocating $2 million for R&D in the next fiscal year[85] - Market expansion plans include entering two new regions, which are projected to increase market share by 5%[85] - The company reported a gross margin of 40%, maintaining stability despite rising costs[85] Share Options and Securities - The company has adopted a share option scheme with a total of 40,000,000 options available for issuance, representing approximately 7.0% of the issued shares as of September 30, 2022[71] - No share options were granted during the nine months ended September 30, 2022, and there were no unexercised options as of that date[75] - As of September 30, 2022, the company had no purchases, sales, or redemptions of its listed securities during the nine months[70] - The weighted average number of ordinary shares issued increased to 512,430 thousand shares for the nine months ended September 30, 2022, compared to 460,000 thousand shares in the previous year[42] Accounting Standards - The company has adopted new accounting standards effective from January 1, 2022, which may impact future financial reporting[20]
官酝控股(08513) - 2022 Q3 - 季度财报