Financial Performance - For the three months ended September 30, 2023, the company reported revenue of SGD 5.5 million, a decrease of 17.3% compared to SGD 6.7 million in the same period of 2022[8]. - The company's net loss for the three months ended September 30, 2023, was SGD 0.93 million, compared to a profit of SGD 0.22 million in the same period of 2022[8]. - Total comprehensive loss for the nine months ended September 30, 2023, was SGD 0.16 million, compared to a loss of SGD 0.05 million in the same period of 2022[8]. - The company's revenue for the nine months ended September 30, 2023, decreased by approximately SGD 0.41 million or 2.3% to about SGD 17.35 million, compared to SGD 17.8 million for the same period in 2022[27]. - Profit for the nine months ended September 30, 2023, was approximately SGD 0.19 million, a turnaround from a loss of about SGD 0.04 million in the same period of 2022, primarily due to investment income of SGD 0.86 million[40]. Expenses and Costs - The company's material costs for the three months ended September 30, 2023, were SGD 2.63 million, down 22.7% from SGD 3.41 million in the same period of 2022[8]. - Employee benefits expenses for the three months ended September 30, 2023, were SGD 1.60 million, a decrease of 14.4% compared to SGD 1.87 million in the same period of 2022[8]. - The company’s total expenses for the three months ended September 30, 2023, were SGD 6.43 million, compared to SGD 6.37 million in the same period of 2022[8]. - Material costs decreased by approximately SGD 1.36 million or 13.7%, leading to an increase in gross margin from 44.2% to about 50.7%[34]. - Other expenses increased significantly by approximately SGD 2.01 million or 121.8% to about SGD 3.67 million, primarily due to substantial costs incurred for brand awareness and market expansion in China[39]. Income and Gains - The company reported other income and gains of SGD 0.12 million for the three months ended September 30, 2023, an increase of 25% from SGD 0.09 million in the same period of 2022[8]. - Other income and gains increased by approximately SGD 0.70 million or 184.8% to about SGD 1.08 million, mainly from realized capital gains on listed securities[36]. Shareholder Information - The company has a total of 2,000,000,000 issued ordinary shares as of September 30, 2023[25]. - Mr. Wang Lei holds 290,870,000 shares, representing approximately 14.54% of the company's equity[44]. - Mr. Li Jie holds 586,020,000 shares, representing approximately 29.30% of the company's equity[45]. Dividends and Recommendations - The company did not recommend any dividend for the nine months ended September 30, 2023, consistent with the previous year[24]. - The board does not recommend any dividend payment for the nine months ending September 30, 2023, consistent with the previous year[60]. Tax and Compliance - The income tax expense for the three months ended September 30, 2023, was SGD 1,000, compared to an expense of SGD (64,000) for the same period in 2022[23]. - The company’s Singapore subsidiary is subject to a tax rate of 17% on estimated profits generated in Singapore[21]. - The company has adopted all new and revised International Financial Reporting Standards effective from January 1, 2023, with no significant impact on its accounting policies or financial performance[12]. - The company has complied with all applicable corporate governance code provisions during the reporting period[55]. Corporate Activities - The company operates in various sectors including automotive maintenance, modification services, and smart kitchen appliance development[12]. - The company is expanding its new smart kitchen division, integrating various business models including offline retail, takeaway services, and SaaS+ empowerment[32]. - On November 10, 2023, the group signed a memorandum of understanding for a potential acquisition of a company's equity, with specific details pending further negotiations[58]. - No significant investments, acquisitions, or disposals were made by the group in the nine months ending September 30, 2023[57]. Risk Management - The company has not engaged in any currency hedging to mitigate foreign exchange risks[50]. - The company has no pledged assets as of September 30, 2023[49]. - No significant related party transactions were established during the nine months ending September 30, 2023[46].
中食民安(08283) - 2023 Q3 - 季度财报