Financial Performance - For the three months ended September 30, 2023, the company reported revenue of SGD 31,391,000, a 58% increase compared to SGD 19,882,000 for the same period in 2022[35]. - For the nine months ended September 30, 2023, total revenue reached SGD 85,576,000, up 38% from SGD 61,814,000 in the same period last year[35]. - The company incurred a loss before tax of SGD 116,000 for the three months ended September 30, 2023, compared to a loss of SGD 554,000 for the same period in 2022[35]. - The total comprehensive loss for the three months ended September 30, 2023, was SGD 158,000, a decrease from SGD 648,000 in the same period last year[37]. - The company’s total comprehensive loss for the nine months ended September 30, 2023, was SGD (659,000), compared to SGD (1,285,000) for the same period in 2022[37]. - The total loss attributable to owners for the three months ended September 30, 2023, was SGD 104, compared to a loss of SGD 486 for the same period in 2022, indicating a significant improvement[73]. - The company reported a basic and diluted loss per share of SGD 0.06 for the nine months ended September 30, 2023, compared to SGD 0.10 for the same period in 2022[73]. - The company did not recommend any dividend for the nine months ended September 30, 2023, consistent with the same period in 2022[71]. Revenue Breakdown - The automotive supply revenue reached SGD 26,798,000 for the three months ended September 30, 2023, compared to SGD 15,742,000 in the same period of 2022, reflecting a growth of 70%[60]. - The automotive rental income increased to SGD 1,042,000 for the three months ended September 30, 2023, up from SGD 805,000 in the same period of 2022, representing a growth of 29%[60]. - The automotive supply revenue for the nine months ended September 30, 2023, was SGD 72,072,000, up from SGD 49,416,000 in the same period of 2022, indicating a growth of 46%[60]. - For the fiscal year 2023, the group's revenue was approximately SGD 85.6 million, an increase of about SGD 23.8 million compared to SGD 61.8 million in 2022, primarily driven by increased sales of passenger car parts and accessories[81]. - Sales of passenger car parts, accessories, and vehicles to customers in mainland China increased by approximately SGD 21.7 million during the fiscal year 2023[81]. - The group's automotive after-sales service revenue increased by approximately SGD 0.5 million due to market recovery following the easing of COVID-19 restrictions in Singapore[83]. Cost and Expenses - Employee benefits expenses for the three months ended September 30, 2023, were SGD (1,803,000), an increase from SGD (1,666,000) in the same period last year[35]. - The company’s employee benefits expenses for the nine months ended September 30, 2023, totaled SGD 4,818, an increase from SGD 4,612 in the same period of 2022[65]. - The cost of materials used and changes in trade inventory rose from SGD 53.2 million in 2022 to SGD 75.8 million in 2023, an increase of approximately SGD 22.6 million[84]. - The depreciation of property, plant, and equipment for the nine months ended September 30, 2023, was SGD 1,284, an increase of 69.5% from SGD 756 in the same period of 2022[65]. - The interest expense on lease liabilities for the three months ended September 30, 2023, was SGD 44, a decrease of 32.3% from SGD 65 in the same period of 2022[63]. - The total finance costs for the nine months ended September 30, 2023, were SGD 276, down from SGD 353 in the same period of 2022, reflecting a decrease of 21.8%[63]. Ownership Structure - The company has a significant ownership structure, with Red Link holding 54.70% of its shares, which is beneficially owned by Lin Fangfang[27]. - Mr. Hong holds 378,798,000 shares, representing 44.56% of the company's equity[102]. - Ms. Lin also holds 378,798,000 shares, equating to 44.56% ownership[102]. - Mr. Hu owns 56,582,000 shares, which is 6.66% of the total shares[102]. - Ms. Nie has a beneficial ownership of 18,275,400 shares, accounting for 2.15%[102]. - Red Link International Limited, controlled by Mr. Hong and Ms. Lin, holds 378,798,000 shares, representing 44.56%[104]. - Mr. Wu holds 378,798,000 shares as spouse equity, also 44.56%[105]. - Mr. Chong Soo Hoon, Sean owns 46,850,000 shares, which is 5.51%[105]. Strategic Focus - The company aims to enhance its market presence and explore new strategies for growth in the automotive sector[10]. - The management discussed ongoing research and development efforts for new products and technologies to stay competitive in the market[10]. - The company is focused on expanding its operations and exploring potential mergers and acquisitions to drive future growth[10]. - The company continues to focus on expanding its automotive repair and maintenance services in Singapore and automotive trading in China[45]. - The group plans to cautiously expand its automotive after-sales service and rental business in Singapore and increase market share in mainland China[80]. - The group aims to enhance its position in the automotive sector by acquiring new technologies and improving automotive expertise in response to market challenges[80]. Compliance and Governance - The company reported unaudited consolidated financial results for the nine months ended September 30, 2023, indicating compliance with applicable accounting standards and GEM listing rules[12]. - The company is committed to maintaining transparency and has established an audit committee to oversee financial reporting and risk management[11]. - There were no known conflicts of interest among directors or major shareholders in businesses that directly or indirectly compete with the company as of September 30, 2023[30]. - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and presented in Singapore dollars[46]. - The company emphasizes the importance of accurate accounting estimates and assumptions in the preparation of its financial statements[46]. Events and Changes - There were no significant post-reporting date events that would materially affect the financial position of the company[14]. - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2023[31]. - The company has not granted any share options since the adoption of the share option scheme, and there are no unexercised options as of September 30, 2023[6].
傲迪玛汽车(08418) - 2023 Q3 - 季度财报