Financial Performance - The unaudited revenue for the Group for the three months ended March 31, 2023, was approximately S$309,000, a decrease of approximately S$450,000 or 59.29% compared to S$759,000 for the same period in 2022[7]. - The unaudited loss for the Group was approximately S$1,827,000 for the three months ended March 31, 2023, representing a decrease in losses of approximately S$250,000 or 12.04% compared to S$2,077,000 for the same period in 2022[7]. - Loss per share for the Company was approximately 0.15 Singapore cents for the three months ended March 31, 2023, compared to 0.22 Singapore cents for the same period in 2022[7]. - Total comprehensive loss for the period was S$1,535,000 for the three months ended March 31, 2023, compared to S$2,055,000 for the same period in 2022[8]. - The company reported a loss for the period of S$1,713,000 for the first quarter of 2023, compared to a loss of S$2,529,000 for the same period in 2022, representing a reduction in losses of approximately 32%[10]. - The Group reported a foreign currency translation loss of S$292,000 for the three months ended March 31, 2023, compared to a gain of S$22,000 for the same period in 2022[8]. - The company recorded a loss of approximately S$1,827,000 for the three months ended March 31, 2023, a decrease of approximately S$250,000 or 12.04% compared to a loss of approximately S$2,077,000 for the same period in 2022[88]. Revenue Breakdown - Revenue from dental services amounted to S$264,000, while trading sales contributed S$45,000, indicating a significant shift in revenue sources[31]. - Revenue from external customers in Hong Kong was S$45,000, down from S$759,000 in the previous year, while revenue from China was S$264,000, which was not reported in the prior year[33]. - Revenue from Dental Services amounted to S$264,000, accounting for approximately 85% of total revenue for the three months ended March 31, 2023[60][61]. - Trading Sales contributed approximately S$45,000, representing a significant decrease of approximately S$714,000 compared to S$759,000 for the three months ended March 31, 2022[63][68]. - Total revenue for the three months ended March 31, 2023, was S$309,000, a decrease of 59.3% compared to S$759,000 for the same period in 2022[28]. Operating Income and Expenses - Other operating income increased to S$572,000 for the three months ended March 31, 2023, compared to S$73,000 for the same period in 2022[8]. - Other operating income for the three months ended March 31, 2023, was approximately S$572,000, which represented an increase of S$499,000 compared to S$73,000 for the same period in 2022[64][69]. - Employee benefits expense was S$797,000 for the three months ended March 31, 2023, compared to S$765,000 for the same period in 2022[8]. - Other operating expenses rose by approximately S$296,000 or 30.42%, from approximately S$973,000 for the three months ended March 31, 2022, to approximately S$1,269,000 for the same period in 2023[85]. - Consumables and medical supplies used amounted to approximately S$163,000 for the three months ended March 31, 2023, down from S$638,000 in the same period in 2022[65][70]. Corporate Governance and Compliance - The Company has adopted a code of conduct for securities transactions by directors, which was complied with throughout the three months ended March 31, 2023[119]. - The Audit Committee consists of three independent non-executive Directors, ensuring oversight of financial reporting and internal controls[133]. - The company complied with all applicable code provisions of the Corporate Governance Code during the three months ended March 31, 2023[107]. - The independent non-executive Directors confirmed compliance with the non-competition undertakings for the three months ended March 31, 2023[125]. - The Board is committed to high standards of corporate governance to manage business risks and enhance transparency[106]. Future Outlook and Strategic Focus - The Company will shift its core business operations to dental implant services, supported by a two-year business development plan established in 2022[51][55]. - The Company identifies a significant market potential for dental implant services in mainland China, driven by a large population and aging demographics[52][55]. - The Group aims to concentrate resources on the continuous development of dental services while maintaining a prudent investment strategy[53][55]. - Future outlook remains cautious due to ongoing market challenges and the need for strategic adjustments in operations[29]. Shareholder Information - As of March 31, 2023, Dr. Loh Teck Hiong holds 210,024,000 shares, representing approximately 15.77% of the company's total shareholding[97]. - Mr. Lee Chung Shun was allotted 6,000,000 shares on January 12, 2023, following the full exercise of share options granted under the Share Option Scheme[97]. - Brisk Success, a beneficial owner, holds 210,024,000 shares, equivalent to 15.77% of the total shareholding[104]. - HK MZ Health Investment Management Group Limited holds 132,968,000 shares, accounting for 9.98% of the total shareholding[104]. - The total number of share options granted as of March 31, 2023, is 30,000,000, with 18,000,000 exercised and 12,000,000 lapsed[115].
德斯控股(08437) - 2024 Q1 - 季度财报