Gelong Hui, May 13, China Chuneng Holdings (08430.HK) announcementGroup earnings for the three months ended March 31, 2022 were about S $6.668 million, down about 6.0 per cent from a year earlier.The loss attributable to the owners of the company is about S $1.733 million. The increase in loss of approximately S $1.287 million was mainly due to the decrease in gross profit and the recognition of share payments for the three months ended 31 March 2022. The Board does not recommend the payment of any dividend for the three months ended March 31, 2022.
The company has an experienced management team, under its leadership, the company has developed into a reliable transportation and distribution service provider, the company has a large fleet, able to handle a large number of customer orders.
The continuing COVID-19 epidemic and the mutation of the COVID-19 virus continue to pose challenges to the supply chain. However, estimates released by the Ministry of Trade and Industry show that Singapore's economy grew 3.8 per cent year-on-year from January to March during the COVID-19 outbreak. As the company's customers are mainly logistics service providers in the Singapore supply chain, the goods transported by the company include all kinds of plastic resins, scrap paper products and others. These goods are mainly used for the import and export of ╱, so any turmoil in the global trade economy will directly affect the company's customers, which in turn will affect the group.