Financial Performance - For the three months ended September 30, 2023, the company reported revenue of SGD 15,118,000, a decrease of 32.8% compared to SGD 22,467,000 in the same period of 2022[4] - The gross profit for the nine months ended September 30, 2023, was SGD 3,852,000, down 42.3% from SGD 6,640,000 in the same period of 2022[4] - The company recorded a net profit of SGD 1,729,000 for the nine months ended September 30, 2023, representing a 23.7% increase from SGD 1,397,000 in the same period of 2022[5] - Operating loss for the three months ended September 30, 2023, was SGD 123,000, compared to an operating profit of SGD 114,000 in the same period of 2022[4] - The total comprehensive income for the nine months ended September 30, 2023, was SGD 1,727,000, compared to SGD 1,413,000 in the same period of 2022, indicating a growth of 22.2%[5] - The basic and diluted earnings per share for the nine months ended September 30, 2023, was SGD 0.29, compared to SGD 0.23 in the same period of 2022, reflecting a growth of 26.1%[5] - The company reported other income of SGD 2,628,000 for the nine months ended September 30, 2023, significantly up from SGD 166,000 in the same period of 2022[4] - Total income tax expense for the nine months ended September 30, 2023, was SGD 273,000, down from SGD 369,000 in the same period of 2022, representing a decrease of about 26.0%[6] - The company experienced a loss attributable to owners of the company of SGD 120,000 for the three months ended September 30, 2023, compared to a profit of SGD 48,000 in the same period of 2022[28] Revenue Breakdown - For the nine months ended September 30, 2023, total revenue from human resource outsourcing services was SGD 46,168,000, a decrease of 38.8% compared to SGD 75,547,000 for the same period in 2022[20] - Revenue from human resource recruitment services for the nine months ended September 30, 2023, was SGD 418,000, down 52.1% from SGD 870,000 in the same period of 2022[20] - The group reported a total revenue of SGD 46,664,000 for the nine months ended September 30, 2023, compared to SGD 76,455,000 for the same period in 2022, reflecting a decline of 38.9%[20] - The group’s pre-tax profit for the nine months ended September 30, 2023, was SGD 2,628,000, significantly higher than SGD 166,000 for the same period in 2022[22] - The group received government grants totaling SGD 2,490,000 for the nine months ended September 30, 2023, compared to SGD 41,000 in the same period of 2022[22] Employee Costs - The company’s employee costs for the nine months ended September 30, 2023, were SGD 2,971,000, a decrease of 13.9% from SGD 3,449,000 in the same period of 2022[4] - The group’s total employee costs for the nine months ended September 30, 2023, amounted to SGD 45,783,000, down 37.5% from SGD 73,264,000 in the same period of 2022[23] - The total remuneration for key management personnel for the nine months ended September 30, 2023, was SGD 421,000, down from SGD 618,000 in the same period of 2022, indicating a decrease of approximately 31.8%[34] - Employee costs, administrative expenses, and other operating expenses decreased by approximately SGD 478,000 or 13.9% to about SGD 3.0 million, attributed to a reduction in the number of employees from 62 to 48[43] Assets and Liabilities - The company’s total assets increased to SGD 20,085,000 as of September 30, 2023, up from SGD 17,390,000 as of January 1, 2022[7] - The group had cash and bank balances of approximately SGD 13.5 million as of September 30, 2023, compared to SGD 13.2 million as of December 31, 2022[50] - The current ratio as of September 30, 2023, was approximately 3.1 times, up from 2.7 times as of December 31, 2022[50] - As of September 30, 2023, the group has pledged fixed deposits of approximately SGD 750,000, an increase from SGD 687,000 as of December 31, 2022[62] Strategic Plans and Market Position - The company aims to expand its business into the non-public sector to capture new market opportunities amid declining demand for outsourcing services in the public sector[37] - The company plans to invest significantly in talent acquisition, internal business processes, and technology to improve revenue while managing costs[37] - The group is currently evaluating the impact of new and revised International Financial Reporting Standards, with no significant impact expected on the interim financial statements upon first application[15] - The company is considering potential acquisitions to bolster its product offerings and expand its customer base, with a focus on I sectors[97] - The company emphasized its commitment to sustainability, with plans to implement eco-friendly practices across its operations by K year[97] Compliance and Governance - The company’s audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2023, confirming compliance with applicable accounting standards and GEM listing rules[93] - The company’s board of directors has not purchased, sold, or redeemed any of its listed securities during the nine months ended September 30, 2023[87] - The company confirms compliance with GEM listing rules regarding related party transactions, with no other significant transactions reported for the nine months ending September 30, 2023[68] Future Outlook - The company provided guidance for Q4 2023, projecting revenue between $B million and $C million, which reflects a growth rate of D%[97] - New product launches are expected to contribute an additional $E million in revenue, with anticipated market expansion into F regions[97] - The company is investing in R&D for new technologies, allocating $G million towards innovation initiatives in the upcoming fiscal year[97] - Market expansion efforts include strategic partnerships with H companies, aiming to enhance distribution channels and increase market share[97] - Operational efficiency improvements have led to a reduction in costs by J%, enhancing overall profitability margins[97]
中安控股集团(08462) - 2023 Q3 - 季度财报