香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 HYGIEIA GROUP LIMITED （於開曼群島註冊成立的有限公司） （股份代號︰1650） 董事名單及其角色與職能 Hygieia Group Limited（「本公司」）的 董 事 會（「董事會」）成 員 載 列 如 下： 執行董事 卓 榮 貴 先 生（主 席） Peh Poon Chew先 生 卓麗秋女士 獨立非執行董事 梁志恒先生 劉振榮先生 王旭先生 董事會設有三個委員會。下表載列本公司各董事於該等委員會中所擔任的職位。 | 董 事 | | 審核委員會 | 提名委員會 | | 薪酬委員會 | | | --- | --- | --- | --- | --- | --- | --- | | 梁志恒先生 | 成 | 員 | 成 | 員 | 席 | 主 | | 劉振榮先生 | 成 | 員 | 主 | 席 | 成 員 | | | 王旭先生 | 主 | 席 | 成 | 員 | 員 | 成 | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 HYGIEIA GROUP LIMITED （於開曼群島註冊成立的有限公司） （股份代號︰1650） 新加坡，二零二五年八月二十八日 於本公告日期，執行董事為卓榮貴先生、 Peh Poon Chew 先生及卓麗秋女士；及獨立非執 行董事為梁志恒先生、劉振榮先生及王旭先生。 提名委員會成員變動 Hygieia Group Limited（「本公司」）董事會（「董事會」）謹此宣佈，卓麗秋女士（「卓女士」） 已獲委任為本公司提名委員會（「提名委員會」）成員，自二零二五年八月二十八日起生 效。 緊接上述變動後，提名委員會將包含四名成員，即劉振榮先生（提名委員會主席）、王旭 先生、梁志恒先生及卓女士。 董事會相信，實行該等變動將加强董事會的效能及多元性，並進一步提高本公司整體企 業管治常規的水平。 董事會謹此熱烈歡迎卓女士出任提名委員會新職務。 承董事會命 Hygieia Group Limited 主席 卓榮貴 ...

[Announcement Overview](index=1&type=section&id=Announcement%20Overview) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) Hygieia Group Limited reported interim results for the six months ended June 30, 2025, showing significant growth in revenue and profit after tax, with increased earnings per share, but no interim dividend was declared by the Board Financial Performance Summary | Metric | Six Months Ended June 30, 2025 (thousand S$) | Six Months Ended June 30, 2024 (thousand S$) | Change (thousand S$) | Growth Rate (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 39,400 | 37,000 | 2,400 | 6.4 | | Profit After Tax | 2,100 | 1,200 | 1,000 | 83.3 | | Basic and Diluted Earnings Per Share (S. cents) | 0.104 | 0.055 | 0.049 | 89.1 | - The Board did not declare an interim dividend for the six months ended June 30, 2025[4](index=4&type=chunk) [Condensed Consolidated Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group's revenue grew by **6.4%** to **39,351 thousand S$**, gross profit increased by **22.6%** to **7,446 thousand S$**, and profit for the period surged by **84.3%** to **2,120 thousand S$**, driven by revenue growth and improved gross margin Consolidated Profit or Loss Summary | Metric | 2025 (thousand S$) | 2024 (thousand S$) | Change (thousand S$) | Growth Rate (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 39,351 | 36,982 | 2,369 | 6.4 | | Cost of Sales | (31,905) | (30,908) | (997) | 3.2 | | Gross Profit | 7,446 | 6,074 | 1,372 | 22.6 | | Operating Profit | 2,744 | 1,554 | 1,190 | 76.6 | | Profit Before Income Tax | 2,681 | 1,457 | 1,224 | 84.0 | | Income Tax Expense | (561) | (307) | (254) | 82.7 | | Profit for the Period | 2,120 | 1,150 | 970 | 84.3 | | Profit for the Period Attributable to Owners of the Company | 2,082 | 1,092 | 990 | 90.7 | | Basic and Diluted Earnings Per Share (S. cents) | 0.104 | 0.055 | 0.049 | 89.1 | [Consolidated Statement of Financial Position](index=4&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets were **37,743 thousand S$**, a decrease from December 31, 2024, primarily due to reduced fixed bank deposits and cash and cash equivalents within current assets, with total equity and liabilities decreasing accordingly Consolidated Financial Position Summary | Metric | June 30, 2025 (thousand S$) | December 31, 2024 (thousand S$) | Change (thousand S$) | Change Rate (%) | | :--- | :--- | :--- | :--- | :--- | | **Assets** | | | | | | Non-current Assets | 3,832 | 4,018 | (186) | -4.6 | | Current Assets | 33,911 | 36,977 | (3,066) | -8.3 | | Total Assets | 37,743 | 40,995 | (3,252) | -7.9 | | **Equity** | | | | | | Equity Attributable to Owners of the Company | 25,900 | 27,817 | (1,917) | -6.9 | | Non-controlling Interests | 154 | 116 | 38 | 32.8 | | Total Equity | 26,054 | 27,933 | (1,879) | -6.7 | | **Liabilities** | | | | | | Non-current Liabilities | 360 | 755 | (395) | -52.3 | | Current Liabilities | 11,328 | 12,307 | (979) | -8.0 | | Total Liabilities | 11,688 | 13,062 | (1,374) | -10.5 | | Total Equity and Liabilities | 37,742 | 40,995 | (3,253) | -7.9 | - Net current assets decreased from **24,670 thousand S$** as of December 31, 2024, to **22,583 thousand S$** as of June 30, 2025[8](index=8&type=chunk) [Consolidated Statement of Changes in Equity](index=6&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) For the six months ended June 30, 2025, equity attributable to owners of the Company decreased from **27,817 thousand S$** at the beginning of the period to **25,900 thousand S$** at the end, primarily due to dividends paid of **4,000 thousand S$**, partially offset by profit for the period of **2,082 thousand S$** Consolidated Changes in Equity Summary | Metric | Six Months Ended June 30, 2025 (thousand S$) | Six Months Ended June 30, 2024 (thousand S$) | | :--- | :--- | :--- | | Equity Attributable to Owners of the Company at Beginning of Period | 27,817 | 30,049 | | Profit for the Period | 2,082 | 1,092 | | Other Comprehensive Income for the Period | 1 | (1) | | Dividends Paid | (4,000) | (3,000) | | Equity Attributable to Owners of the Company at End of Period | 25,900 | 28,140 | [Consolidated Statement of Cash Flows](index=7&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, operating cash flow shifted from net outflow to net inflow, investing cash flow remained a net inflow, while financing cash outflow significantly increased, resulting in a slight decrease in cash and cash equivalents at period-end Consolidated Cash Flow Summary | Metric | 2025 (thousand S$) | 2024 (thousand S$) | | :--- | :--- | :--- | | Net Cash From Operating Activities | 3,015 | (2,501) | | Net Cash From Investing Activities | 2,927 | 2,707 | | Net Cash Used in Financing Activities | (6,017) | (4,561) | | Net Decrease in Cash and Cash Equivalents | (75) | (4,355) | | Cash and Cash Equivalents at End of Period | 10,313 | 7,861 | - Net cash from operating activities improved from a net outflow of **2,501 thousand S$** in the prior period to a net inflow of **3,015 thousand S$** in the current period, indicating improved operating efficiency[11](index=11&type=chunk) - Cash outflow from financing activities increased, primarily due to dividends paid rising from **3,000 thousand S$** to **4,000 thousand S$**, and increased repayment of bank borrowings[11](index=11&type=chunk) [Notes to the Condensed Consolidated Financial Information](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Information) [General Information and Basis of Preparation](index=8&type=section&id=General%20Information%20and%20Basis%20of%20Preparation) Hygieia Group Limited, incorporated in the Cayman Islands, primarily provides cleaning services, with its shares listed on the Main Board of the Stock Exchange; interim financial information is prepared in accordance with IAS 34 and presented in Singapore Dollars - The Company was incorporated in the Cayman Islands on February 28, 2019, with its principal business being the provision of cleaning services[12](index=12&type=chunk) - The Company's shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited on July 3, 2020[13](index=13&type=chunk) - The condensed interim financial information is prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting' and presented in **Singapore Dollars (thousand S$)**[13](index=13&type=chunk)[14](index=14&type=chunk) [Adoption of New and Revised IFRSs](index=8&type=section&id=Adoption%20of%20New%20and%20Revised%20IFRSs) Revisions to International Financial Reporting Standards, including IAS 21, adopted for the first time in this interim period, had no significant impact on the Group's financial position or performance - Revisions to International Financial Reporting Standards, including the amendment to IAS 21 'Lack of Exchangeability', adopted for the first time in this interim period, had no significant impact on the Group's financial position or performance[15](index=15&type=chunk) [Revenue and Segment Information](index=9&type=section&id=Revenue%20and%20Segment%20Information) The Group's revenue primarily derives from cleaning services, totaling **39,319 thousand S$** for the six months ended June 30, 2025, mainly from Singapore and Thailand markets, with Singapore contributing **33,546 thousand S$** - The Group considers its business as a single operating segment, with primary revenue generated from providing cleaning services[16](index=16&type=chunk)[17](index=17&type=chunk) Revenue by Source | Revenue Source | 2025 (thousand S$) | 2024 (thousand S$) | | :--- | :--- | :--- | | Provision of Cleaning Services | 39,319 | 36,940 | | Sale of Goods | 32 | 42 | | **Total Revenue** | **39,351** | **36,982** | Revenue by Geographical Location | Geographical Location | 2025 (thousand S$) | 2024 (thousand S$) | | :--- | :--- | :--- | | Singapore | 33,546 | 32,036 | | Thailand | 5,805 | 4,946 | | **Total Revenue** | **39,351** | **36,982** | Non-current Assets by Geographical Location | Non-current Assets by Geographical Location | June 30, 2025 (thousand S$) | December 31, 2024 (thousand S$) | | :--- | :--- | :--- | | Singapore | 3,667 | 3,870 | | Thailand | 165 | 148 | | **Total** | **3,832** | **4,018** | [Other Income](index=10&type=section&id=Other%20Income) For the six months ended June 30, 2025, the Group's other income was **102 thousand S$**, primarily from interest income, remaining stable compared to the prior year Other Income Breakdown | Source | 2025 (thousand S$) | 2024 (thousand S$) | | :--- | :--- | :--- | | Interest Income | 99 | 90 | | Others | 3 | 5 | | **Total** | **102** | **95** | [Other Gains/(Losses) – Net](index=10&type=section&id=Other%20Gains%2F%28Losses%29%20%E2%80%93%20Net) For the six months ended June 30, 2025, the Group recorded net other gains of **27 thousand S$**, mainly from the gain on disposal of property, plant and equipment, partially offset by foreign exchange losses Other Gains/(Losses) Breakdown | Source | 2025 (thousand S$) | 2024 (thousand S$) | | :--- | :--- | :--- | | Foreign Exchange Losses | (9) | (12) | | Gain on Disposal of Property, Plant and Equipment | 36 | 6 | | **Total** | **27** | **(6)** | [Employee Benefits Expense](index=11&type=section&id=Employee%20Benefits%20Expense) For the six months ended June 30, 2025, employee benefits expense increased to **28,212 thousand S$**, primarily due to higher salaries and other allowances, partially offset by government grants of **1,625 thousand S$** for wage offsets Employee Benefits Expense Breakdown | Employee Benefits Expense | 2025 (thousand S$) | 2024 (thousand S$) | | :--- | :--- | :--- | | Salaries and Other Allowances | 26,208 | 23,269 | | Contributions to Defined Contribution Plans | 1,811 | 1,664 | | Other Employee Benefits | 193 | 108 | | **Total** | **28,212** | **25,041** | - Government grants amounted to **1,625 thousand S$** for the six months ended June 30, 2025 (2024: **778 thousand S$**), used to offset employee benefits expense[22](index=22&type=chunk)[23](index=23&type=chunk) [Finance Costs](index=11&type=section&id=Finance%20Costs) For the six months ended June 30, 2025, finance costs decreased to **63 thousand S$**, primarily due to reduced interest on loans and lease liabilities Finance Costs Breakdown | Finance Costs | 2025 (thousand S$) | 2024 (thousand S$) | | :--- | :--- | :--- | | Interest on Loans | 18 | 38 | | Interest on Lease Liabilities | 35 | 45 | | Interest on Hire Purchase Arrangements | 10 | 14 | | **Total** | **63** | **97** | [Income Tax Expense](index=12&type=section&id=Income%20Tax%20Expense) For the six months ended June 30, 2025, income tax expense increased to **561 thousand S$**, mainly due to higher taxable profit, with corporate income tax rates of **17%** in Singapore and **20%** in Thailand Income Tax Expense by Jurisdiction | Income Tax Expense | 2025 (thousand S$) | 2024 (thousand S$) | | :--- | :--- | :--- | | Singapore Corporate Income Tax | 516 | 307 | | Thailand Corporate Income Tax | 45 | – | | **Total** | **561** | **307** | - Singapore corporate income tax is calculated at **17%** of estimated taxable profit, while Thailand income tax is calculated at **20%**[25](index=25&type=chunk) [Earnings Per Share](index=12&type=section&id=Earnings%20Per%20Share) For the six months ended June 30, 2025, basic and diluted earnings per share significantly increased to **0.104 S. cents** from **0.055 S. cents** in the prior year, reflecting higher profit for the period Earnings Per Share Calculation | Metric | 2025 (Unaudited) | 2024 (Unaudited) | | :--- | :--- | :--- | | Profit for the Period Attributable to Owners of the Company (thousand S$) | 2,082 | 1,092 | | Weighted Average Number of Ordinary Shares in Issue (thousand shares) | 2,000,000 | 2,000,000 | | Basic and Diluted Earnings Per Share (S. cents) | 0.104 | 0.055 | - Diluted earnings per share is the same as basic earnings per share as there were no potential ordinary shares in issue for both periods[26](index=26&type=chunk) [Dividends](index=13&type=section&id=Dividends) The Board did not declare an interim dividend for the six months ended June 30, 2025, but confirmed a final dividend of **4,000 thousand S$** for 2024 Dividends Declared | Dividend Type | 2025 (thousand S$) | 2024 (thousand S$) | | :--- | :--- | :--- | | 2023 Final Dividend (S$0.0015 per share) | – | 3,000 | | 2024 Final Dividend (S$0.002 per share) | 4,000 | – | | **Total** | **4,000** | **3,000** | - The Board did not declare an interim dividend for the six months ended June 30, 2025[27](index=27&type=chunk) [Trade and Other Receivables, Deposits and Prepayments](index=13&type=section&id=Trade%20and%20Other%20Receivables%2C%20Deposits%20and%20Prepayments) As of June 30, 2025, total trade and other receivables, deposits, and prepayments were **19,199 thousand S$**, largely consistent with year-end 2024, with a significant increase in trade receivables aged 0-30 days Trade and Other Receivables, Deposits and Prepayments Summary | Item | June 30, 2025 (thousand S$) | December 31, 2024 (thousand S$) | | :--- | :--- | :--- | | Trade Receivables (net of allowance) | 14,160 | 13,358 | | Unbilled Revenue (net of allowance) | 2,996 | 3,767 | | Deposits | 417 | 610 | | Prepayments | 540 | 400 | | Other Receivables | 1,086 | 1,018 | | **Total** | **19,199** | **19,153** | Trade Receivables Ageing Analysis | Trade Receivables Ageing (net of allowance) | June 30, 2025 (thousand S$) | December 31, 2024 (thousand S$) | | :--- | :--- | :--- | | 0 to 30 days | 10,118 | 6,169 | | 31 to 60 days | 1,315 | 3,952 | | 61 to 90 days | 1,923 | 1,608 | | 91 to 120 days | 669 | 727 | | Over 120 days | 135 | 902 | | **Total** | **14,160** | **13,358** | - Expected credit loss allowances for trade receivables and unbilled revenue were **548 thousand S$** and **21 thousand S$**, respectively, consistent with year-end 2024[29](index=29&type=chunk) [Trade and Other Payables](index=15&type=section&id=Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables were **8,080 thousand S$**, a decrease from **8,586 thousand S$** at year-end 2024, primarily due to lower trade payables and accrued employee benefits expense Trade and Other Payables Summary | Item | June 30, 2025 (thousand S$) | December 31, 2024 (thousand S$) | | :--- | :--- | :--- | | Trade Payables | 1,247 | 1,770 | | Other Payables | 1,871 | 1,625 | | Accrued Expenses | 211 | 286 | | Accrued Employee Benefits Expense | 4,751 | 4,905 | | **Total** | **8,080** | **8,586** | Trade Payables Ageing Analysis | Trade Payables Ageing | June 30, 2025 (thousand S$) | December 31, 2024 (thousand S$) | | :--- | :--- | :--- | | 0 to 30 days | 789 | 936 | | 31 to 60 days | 234 | 562 | | 61 to 90 days | 145 | 117 | | Over 90 days | 79 | 155 | | **Total** | **1,247** | **1,770** | [Management Discussion and Analysis](index=16&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=16&type=section&id=Business%20Review) The Group is a renowned general cleaning service provider in Singapore's environmental services industry with over 30 years of experience, operating in Singapore and Thailand, committed to deploying digital solutions for efficiency, and achieved **6.4%** revenue growth from new projects and organic expansion in Thailand - The Group is a renowned general cleaning service provider in Singapore's environmental services industry with over **30 years of experience**, operating in Singapore and Thailand[33](index=33&type=chunk) - The Group holds an **L6 grade FM02 workhead**, enabling it to bid for public sector service contracts of unlimited value, and has been awarded the **Gold Clean Mark Accreditation** by the National Environment Agency[33](index=33&type=chunk) - The Group deploys digital solutions to enhance operational efficiency and decision-making, adapting to the shift from headcount-based to outcome-based cleaning contracts[34](index=34&type=chunk) - As of June 30, 2025, the Group's revenue increased by **6.4%** year-on-year, primarily driven by newly secured large-scale projects in Singapore and organic growth in its environmental services business in Thailand[34](index=34&type=chunk) - As of August 28, 2025, the Group had **301 ongoing service contracts** with an outstanding contract sum of approximately **65.8 million S$**[34](index=34&type=chunk) - The Group will continue to invest in technology and staff training to improve productivity, and may evaluate other investment prospects to enhance profitability[35](index=35&type=chunk) [Financial Review](index=17&type=section&id=Financial%20Review) The Group achieved robust financial growth during the reporting period, with significant increases in revenue and net profit, improved gross margin due to reduced labor expenses and increased government grants, and a decrease in finance costs [Revenue](index=17&type=section&id=Revenue_FR) For the six months ended June 30, 2025, total revenue was approximately **39.4 million S$**, a **6.4%** year-on-year increase, driven by new large-scale projects in Singapore and organic growth in Thailand - Total revenue was approximately **39.4 million S$**, an increase of **6.4%** compared to approximately **37.0 million S$** in the corresponding period of 2024[36](index=36&type=chunk) - Revenue growth was primarily due to newly secured large-scale projects in Singapore and organic growth in the Group's environmental services business in Thailand[36](index=36&type=chunk) [Cost of Sales](index=17&type=section&id=Cost%20of%20Sales) For the six months ended June 30, 2025, cost of sales was approximately **31.9 million S$**, a **3.2%** year-on-year increase, further explained in the Gross Profit and Gross Profit Margin section - Cost of sales was approximately **31.9 million S$**, an increase of **3.2%** compared to approximately **30.9 million S$** in the corresponding period of 2024[37](index=37&type=chunk) [Gross Profit and Gross Profit Margin](index=18&type=section&id=Gross%20Profit%20and%20Gross%20Profit%20Margin) Gross profit increased to **7.4 million S$**, and gross profit margin improved from **16.4%** to **18.9%**, mainly due to reduced labor-related expenses and increased government employment subsidies - Gross profit increased from **6.1 million S$** in the corresponding period of 2024 to **7.4 million S$** in the current period[38](index=38&type=chunk) - Gross profit margin improved from **16.4%** to **18.9%**[38](index=38&type=chunk) - The improvement in gross profit margin was primarily due to reduced labor-related expenses and increased government employment subsidies received from the Singapore government (2025: **1.6 million S$**; 2024: **0.8 million S$**)[38](index=38&type=chunk) [Administrative Expenses](index=18&type=section&id=Administrative%20Expenses) Administrative expenses increased to **4.8 million S$**, mainly due to higher employee benefits expense and professional fees - Administrative expenses increased from **4.6 million S$** in the corresponding period of 2024 to **4.8 million S$** in the current period[39](index=39&type=chunk) - The increase was primarily due to higher employee benefits expense and professional fees[39](index=39&type=chunk) [Finance Costs](index=18&type=section&id=Finance%20Costs_FR) Finance costs decreased to **63 thousand S$**, primarily due to reduced interest expenses arising from the Group's borrowings - Finance costs decreased from **97 thousand S$** in the corresponding period of 2024 to **63 thousand S$** in the current period[40](index=40&type=chunk) - The decrease was primarily due to reduced interest expenses arising from the Group's borrowings[40](index=40&type=chunk) [Other Gains](index=18&type=section&id=Other%20Gains) For the six months ended June 30, 2025, other gains were approximately **27 thousand S$**, mainly from the disposal of property, plant and equipment, partially offset by net foreign exchange losses - Other gains were approximately **27 thousand S$**, primarily from the gain on disposal of property, plant and equipment, partially offset by net foreign exchange losses[41](index=41&type=chunk) [Other Income](index=18&type=section&id=Other%20Income_FR) Other income remained relatively stable at approximately **102 thousand S$**, mainly derived from interest income on fixed bank deposits - Other income remained relatively stable at approximately **102 thousand S$**, primarily derived from interest income generated from fixed bank deposits[42](index=42&type=chunk) [Income Tax Expense](index=19&type=section&id=Income%20Tax%20Expense_FR) Income tax expense increased to **561 thousand S$**, with an effective tax rate of **20.9%**, mainly due to an overall increase in taxable income of the Company's subsidiaries - Income tax expense was approximately **561 thousand S$**, with an effective tax rate of **20.9%**, an increase from **307 thousand S$** and **21.1%** in the corresponding period of 2024[43](index=43&type=chunk) - The increase in tax expense was primarily due to an overall increase in taxable income of the Company's subsidiaries[43](index=43&type=chunk) [Profit for the Period](index=19&type=section&id=Profit%20for%20the%20Period) For the six months ended June 30, 2025, the Group's net profit was approximately **2.1 million S$**, a significant increase from **1.2 million S$** in the prior year - The Group's net profit was approximately **2.1 million S$**, compared to **1.2 million S$** for the six months ended June 30, 2024[44](index=44&type=chunk) [Liquidity and Capital Resources](index=19&type=section&id=Liquidity%20and%20Capital%20Resources) As of June 30, 2025, the Group maintained a healthy liquidity ratio of **3.0** and was in a net cash position, with cash and cash equivalents exceeding bank borrowings, rendering the net debt-to-capital ratio inapplicable - As of June 30, 2025, current assets were approximately **33.9 million S$**, and current liabilities were approximately **11.3 million S$**[45](index=45&type=chunk) - The current ratio (current assets to current liabilities) remained at **3.0**[45](index=45&type=chunk) - The Group was in a net cash position, and the net debt-to-capital ratio was not applicable[45](index=45&type=chunk) [Capital Expenditure](index=19&type=section&id=Capital%20Expenditure) For the six months ended June 30, 2025, the Group incurred no other significant capital expenditure beyond what has been disclosed - For the six months ended June 30, 2025, no other significant capital expenditure was incurred[46](index=46&type=chunk) [Contingent Liabilities](index=20&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no significant contingent liabilities - As of June 30, 2025, the Group had no significant contingent liabilities[47](index=47&type=chunk) [Pledge of Assets](index=20&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, the Group's bank facilities were secured by trade receivables, a debenture creating fixed and floating charges over all assets, and corporate guarantees provided by the Company and its subsidiaries - Bank facilities were secured by trade receivables financing, a debenture creating fixed and floating charges over all assets, and corporate guarantees provided by the Company and its subsidiaries[48](index=48&type=chunk) [Future Plans for Material Investments and Capital Assets](index=20&type=section&id=Future%20Plans%20for%20Material%20Investments%20and%20Capital%20Assets) As of June 30, 2025, the Group had no plans for material investments and capital assets other than those disclosed in this announcement - As of June 30, 2025, the Group had no plans for material investments and capital assets other than those disclosed in this announcement[49](index=49&type=chunk) [Material Investments, Acquisitions and Disposals](index=20&type=section&id=Material%20Investments%2C%20Acquisitions%20and%20Disposals) For the six months ended June 30, 2025, the Company held no other material investments, significant acquisitions, or disposals of subsidiaries, associates, and joint ventures - For the six months ended June 30, 2025, the Company held no other material investments, significant acquisitions, or disposals of subsidiaries, associates, and joint ventures[50](index=50&type=chunk) [Foreign Exchange Risk Management](index=20&type=section&id=Foreign%20Exchange%20Risk%20Management) The Group's functional currency is the Singapore Dollar, with most revenue and expenses denominated in SGD; it currently has no foreign exchange hedging policy, but management continuously monitors foreign exchange risk - The Group's functional currency is the **Singapore Dollar**, with most revenue and expenses denominated in **SGD**[51](index=51&type=chunk) - The Group currently has no foreign exchange hedging policy, but management continuously monitors foreign exchange risk[51](index=51&type=chunk) [Post Balance Sheet Events](index=20&type=section&id=Post%20Balance%20Sheet%20Events) As of the date of this announcement, the Directors are not aware of any significant events concerning the Group's business or financial performance subsequent to June 30, 2025 - As of the date of this announcement, the Directors are not aware of any significant events concerning the Group's business or financial performance subsequent to June 30, 2025[52](index=52&type=chunk) [Other Information](index=21&type=section&id=Other%20Information) [Use of Proceeds from Listing](index=21&type=section&id=Use%20of%20Proceeds%20from%20Listing) The Company raised net proceeds of approximately **11.8 million S$** from its listing; as of June 30, 2025, **9,689 thousand S$** has been utilized for cash flow mismatch, purchasing waste treatment equipment, and leasing automated machinery, with **2,136 thousand S$** remaining unutilized - Net proceeds from the listing amounted to approximately **11.8 million S$**[53](index=53&type=chunk) Use of Listing Proceeds | Use of Proceeds | Revised Allocation (thousand S$) | % of Total Net Proceeds | Utilized as of June 30, 2025 (thousand S$) | Unutilized as of June 30, 2025 (thousand S$) | Estimated Completion of Utilization | | :--- | :--- | :--- | :--- | :--- | :--- | | Acquisition of Landscaping Company | 1,774 | 15.0 | – | 1,774 | December 31, 2025 | | Purchase of Waste Treatment Equipment | 605 | 5.1 | 605 | – | Not Applicable | | Employment of Waste Treatment Personnel | 627 | 5.3 | 515 | 112 | December 31, 2025 | | Cash Flow Mismatch | 6,170 | 52.2 | 6,170 | – | Not Applicable | | Employment of Sales and Marketing Personnel | 166 | 1.4 | 166 | – | Not Applicable | | Employment of Safety Personnel | 296 | 2.5 | 161 | 135 | December 31, 2025 | | Purchase of Software and Systems | 284 | 2.4 | 169 | 115 | December 31, 2025 | | Lease of Automated Machinery and Equipment | 721 | 6.1 | 721 | – | Not Applicable | | General Working Capital | 1,182 | 10.0 | 1,182 | – | Not Applicable | | **Total** | **11,825** | **100** | **9,689** | **2,136** | | [Employee Remuneration and Relationships](index=22&type=section&id=Employee%20Remuneration%20and%20Relationships) As of June 30, 2025, the Group had approximately **3,047 employees**, with remuneration based on skills, responsibilities, and performance, and progressive wage plans and mandatory provident fund contributions for local and permanent resident employees; the Group maintained good employee relations with no significant labor disputes during the period - As of June 30, 2025, the Group had approximately **3,047 employees** (December 31, 2024: **2,609 employees**)[54](index=54&type=chunk) - Employee remuneration is determined based on work skills, scope, responsibilities, and performance, with discretionary bonuses[54](index=54&type=chunk) - The Group has implemented a progressive wage plan for Singaporean citizens and permanent resident employees and participates in the mandatory provident fund scheme[54](index=54&type=chunk) - The Group maintained good working relationships with its employees, with no significant labor disputes during the reporting period[54](index=54&type=chunk) [Corporate Governance Code](index=22&type=section&id=Corporate%20Governance%20Code) The Company has adopted the Corporate Governance Code and believes it has complied with relevant code provisions during the reporting period, committed to maintaining high standards of corporate governance - The Company has adopted the Corporate Governance Code and believes it has complied with the relevant code provisions during the reporting period[55](index=55&type=chunk) - The Board will continue to review and monitor the Company's practices to maintain high standards of corporate governance[55](index=55&type=chunk) [Standard Code for Securities Transactions by Directors of Listed Issuers](index=23&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors%20of%20Listed%20Issuers) The Company has adopted the Standard Code, and all Directors confirmed compliance with its requirements for the six months ended June 30, 2025, after due enquiry - The Company has adopted the Standard Code as its code of conduct regarding Directors' dealings in securities[56](index=56&type=chunk) - All Directors confirmed compliance with the required standards set out in the Standard Code for the six months ended June 30, 2025[56](index=56&type=chunk) [Audit Committee](index=23&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive Directors, has reviewed the Company's unaudited interim results for the six months ended June 30, 2025, confirming compliance with applicable accounting principles and requirements - The Audit Committee comprises three independent non-executive Directors: Mr. Ong Hock (Chairman), Mr. Lau Chun Wing, and Mr. Leung Chi Hang[57](index=57&type=chunk) - The Audit Committee has reviewed the Company's unaudited interim results for the six months ended June 30, 2025, and confirmed compliance with applicable accounting principles, standards, and requirements[57](index=57&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=23&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the reporting period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities - During the reporting period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[58](index=58&type=chunk) [Public Float](index=23&type=section&id=Public%20Float) As of the date of this announcement, the Company has maintained the prescribed public float in accordance with the Listing Rules - As of the date of this announcement, the Company has maintained the prescribed public float in accordance with the Listing Rules[59](index=59&type=chunk) [Publication of Interim Results Announcement and Interim Report](index=24&type=section&id=Publication%20of%20Interim%20Results%20Announcement%20and%20Interim%20Report) This interim results announcement has been published on the Stock Exchange and Company websites, and the interim report will be dispatched to shareholders and posted on the aforementioned websites in due course - This interim results announcement is published on the Stock Exchange website (www.hkexnews.hk) and the Company's website (http://www.hygieiagroup.com/)[60](index=60&type=chunk) - The interim report for the six months ended June 30, 2025, will be dispatched to shareholders and posted on the aforementioned websites in due course[60](index=60&type=chunk) [Definitions](index=24&type=section&id=Definitions) This section provides definitions for key terms and abbreviations used in the report, including company entities, accounting standards, industry certifications, and geographical locations - Provides definitions for key terms used in the report, such as 'the Company', 'the Group', 'Audit Committee', and 'Corporate Governance Code'[61](index=61&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk) [Board of Directors](index=26&type=section&id=Board%20of%20Directors) As of the date of this announcement, the Board of Directors comprises three executive Directors (Mr. Toh Rong Kiat, Mr. Peh Poon Chew, and Ms. Toh Lay Kiu) and three independent non-executive Directors (Mr. Lau Chun Wing, Mr. Leung Chi Hang, and Mr. Ong Hock) - Executive Directors are Mr. Toh Rong Kiat, Mr. Peh Poon Chew, and Ms. Toh Lay Kiu[63](index=63&type=chunk) - Independent non-executive Directors are Mr. Lau Chun Wing, Mr. Leung Chi Hang, and Mr. Ong Hock[63](index=63&type=chunk)

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承 擔任何責任。 HYGIEIA GROUP LIMITED ( 於開曼群島註冊成立的有限公司 ) 承董事會命 Hygieia Group Limited 主席 卓榮貴 於本公告日期，執行董事為卓榮貴先生、 Peh Poon Chew 先生及卓麗秋女士；及獨立非執 行董事為梁志恒先生、劉振榮先生及王旭先生。 (股份代號: 1650) 董事會會議召開日期 Hygieia Group Limited（「本公司」）之董事（「董事」）會（「董事會」）謹此宣佈，本 公司將於二零二五年八月二十八日（星期四）舉行董事會會議，藉以（其中包括）考慮及批 准本公司及其附屬公司截至二零二五年六月三十日止六個月之未經審核中期業績，以 及考慮派發中期股息（如有）。 新加坡，二零二五年八月十四日 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | | | | 狀態: 新提交 | | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | 公司名稱: | Hygieia Group Limited | | | | | | 呈交日期: | 2025年8月4日 | | | | | | I. 法定/註冊股本變動 | | | | | | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | 證券代號 (如上市) | 01650 | 說明 | | | | 本月底法定/註冊股本總額： HKD 100,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 上月底結存 10,000,000,000 HKD 0.01 HKD 100,000,000 增加 / 減少 (-) HKD 本月底結存 10,000,000,000 HKD 0.01 HKD 100,000,000 FF301 II. 已發行股份及/ ...

Group 1 - The total local government debt balance in China reached 50,165 billion yuan as of the end of March 2025 [1] - General debt amounts to 17,022.5 billion yuan, while special debt totals 33,142.5 billion yuan [1] - The total amount of government bonds is 50,004.6 billion yuan, with non-government bond forms of government debt at 160.4 billion yuan [1] Group 2 - The average remaining maturity of local government bonds is 10.0 years, with general bonds at 5.9 years and special bonds at 12.2 years [1] - The average interest rate for local government bonds is 2.99%, with general bonds at 3.08% and special bonds at 2.95% [1]

Financial Performance - The group's revenue for the year ended December 31, 2024, was SGD 74.697 million, representing a 12.3% increase from SGD 66.538 million in 2023[9] - The group reported a profit before tax of SGD 1.348 million for 2024, compared to a profit of SGD 552,000 in 2023[9] - Total revenue for the year ended December 31, 2024, was approximately SGD 74.7 million, an increase of about 12.3% compared to SGD 66.5 million for the year ended December 31, 2023, driven by new large contracts in Singapore and organic growth in Thailand's environmental services[14] - Cost of sales for the year ended December 31, 2024, was approximately SGD 63.6 million, an increase of about 10.4% from SGD 57.5 million for the year ended December 31, 2023[15] - Gross profit increased from approximately SGD 9.0 million for the year ended December 31, 2023, to approximately SGD 11.1 million for the year ended December 31, 2024, with gross margin rising from 13.5% to 14.9%[16] - Net profit for the year ended December 31, 2024, was approximately SGD 822,000, an increase of about 73.1% compared to SGD 475,000 for the year ended December 31, 2023[22] - The board proposed a final dividend of SGD 0.002 per share for the year ended December 31, 2024, compared to SGD 0.0015 per share for 2023[23] Assets and Liabilities - Total assets decreased to SGD 40.995 million in 2024 from SGD 44.475 million in 2023[10] - The total liabilities of the group were SGD 13.062 million in 2024, down from SGD 14.381 million in 2023[10] - The equity attributable to the company's owners was SGD 27.817 million in 2024, a decrease from SGD 30.049 million in 2023[10] - As of December 31, 2024, the group's current assets were approximately SGD 37.0 million, with a current ratio of 3.0, down from 3.4 as of December 31, 2023[24] - The net cash position as of December 31, 2024, indicated that cash and cash equivalents exceeded bank borrowings, making the net debt-to-equity ratio not applicable[24] Operational Efficiency and Investments - The group aims to enhance productivity through investments in technology and training, despite a competitive environment in the Singapore environmental services industry[13] - The group continues to invest in digital solutions to improve operational efficiency and decision-making processes[12] - The group has 311 ongoing service contracts as of March 28, 2025, with an outstanding contract value of approximately SGD 66.9 million[12] - The company is committed to maintaining its market leadership in the environmental services sector through innovation and process improvement[7] - The group may explore additional investment opportunities that could yield extra returns[13] Employee and Management Information - As of December 31, 2024, the group had a total of 2,690 full-time employees and 156 part-time employees, an increase from 2,464 full-time and 145 part-time employees as of December 31, 2023[79] - The total salary cost incurred by the group for the year ended December 31, 2024, was SGD 53,199,000, compared to SGD 44,158,000 in 2023, reflecting an increase of approximately 20.5%[79] - Peh Poon Chew has nearly 40 years of experience in the cleaning industry, having joined the group in June 2002 as Operations Director[35] - Ms. Chok Li Qiu has over 25 years of experience in the cleaning industry and has been responsible for financial management and compliance since 2008[36] - Mr. Wang Xu has extensive experience in auditing, accounting, and financial management across various industries, including automotive and construction[37] - Mr. Liu Zhenrong has served as an independent non-executive director since September 1, 2023, and has a background in accounting and finance[40] - Mr. Liang Zhi Heng has over 20 years of experience in corporate finance and capital market transactions, currently serving as the financial reporting head at Newlinks Technology Limited[41] Corporate Governance - The company has a strong focus on compliance with statutory and regulatory obligations, ensuring proper financial management and reporting[36] - The management team includes individuals with diverse backgrounds in finance, operations, and compliance, enhancing the company's governance structure[39] - The board includes independent directors with significant experience in various sectors, contributing to effective oversight and strategic direction[37] - The company emphasizes the importance of operational management and customer relations in its service delivery[35] - The board has established a dividend policy to ensure appropriate procedures for declaring and recommending dividends, allowing shareholders to share in the company's profits while retaining liquidity for future growth opportunities[58] - The company has a financial secretary with over 17 years of experience in accounting and finance, previously holding positions at Ernst & Young and other firms[47] - The company has established three committees to oversee specific functions as part of good corporate governance[138] Environmental, Social, and Governance (ESG) Initiatives - The board of directors is responsible for overseeing the group's environmental, social, and governance (ESG) matters, with a sustainable development committee assisting in the management of these issues[161] - The group has set environmental goals related to greenhouse gas emissions, energy efficiency, waste management, and water consumption, with annual reviews to track progress[163] - The group reported a significant reduction in nitrogen oxides (NOx) emissions, decreasing from 921.1 kg in FY2023 to 484.9 kg in FY2024, representing a reduction of approximately 47.4%[180] - Sulfur oxides (SOx) emissions also decreased from 1.1 kg in FY2023 to 0.9 kg in FY2024, a reduction of about 18.2%[180] - Particulate matter (PM) emissions fell from 85.8 kg in FY2023 to 46.5 kg in FY2024, marking a decrease of approximately 45.8%[180] - The group aims to achieve carbon neutrality in accordance with government targets, with a 25% increase in greenhouse gas emissions density compared to FY2021, which was 2.0 tons of CO2 equivalent per million SGD revenue[183] - The greenhouse gas emissions density for FY2024 decreased by about 32.4% compared to FY2023, primarily due to improved operational efficiency leading to a reduced fleet size[183] - The group has identified 16 significant environmental, social, and governance (ESG) issues through internal assessments, which will guide their ESG reporting and strategy[173] - The group has implemented various environmental, social, and governance-related goals and regularly monitors these objectives to enhance stakeholder understanding[176] Risk Management - The company faces market risks related to interest rates, credit, and liquidity, with details on risk management measures provided in the financial statements[55] - The board is responsible for assessing and determining the nature and extent of risks related to the group's operations, continuously reviewing the internal control system[152] - The company has adopted a three-tier risk management approach to identify, assess, and manage various risks[153] - The audit committee conducts an annual review of the effectiveness of the internal control and risk management systems, covering significant financial, operational, and compliance controls[153] Shareholder Communication and Relations - The company has adopted a shareholder communication policy to ensure shareholders and potential investors can access balanced and easily understandable information[157] - The company emphasizes the importance of effective communication with shareholders to enhance their understanding of the group's business and performance[160] - The company has arranged appropriate liability insurance for legal claims against directors[115] Miscellaneous - The company was incorporated as an exempted company in the Cayman Islands on February 28, 2019, and its shares were listed on the main board of the Stock Exchange on July 3, 2020[50] - The annual general meeting is scheduled for May 15, 2025[56] - The group made charitable donations totaling SGD 9,750 during the reporting period[54] - The company has not engaged in any significant legal disputes as of December 31, 2024[82] - The company has not entered into any equity-linked agreements as of December 31, 2024[84]

Financial Performance - The audited revenue for the year ended December 31, 2024, was approximately SGD 74.7 million, an increase of about SGD 8.2 million or 12.3% compared to SGD 66.5 million for the year ended December 31, 2023[4] - The audited profit after tax for the year ended December 31, 2024, was approximately SGD 822,000, an increase of about SGD 347,000 or 73.1% compared to SGD 475,000 for the year ended December 31, 2023[4] - Basic and diluted earnings per share for the year ended December 31, 2024, were SGD 0.0004, compared to SGD 0.0002 for the year ended December 31, 2023[4] - The total comprehensive income for the year ended December 31, 2024, was SGD 839,000, compared to SGD 474,000 for the year ended December 31, 2023[6] - The company reported a gross profit of SGD 11.146 million for the year ended December 31, 2024, compared to SGD 8.992 million for the year ended December 31, 2023[5] - Operating profit for the year ended December 31, 2024, was SGD 1.526 million, an increase from SGD 755,000 for the year ended December 31, 2023[5] - The company reported a profit attributable to owners of 756 thousand SGD in 2024, up from 454 thousand SGD in 2023, representing a growth of 66.5%[25] - Net profit for the year ended December 31, 2024, was approximately SGD 822,000, a significant increase of about 73.1% from SGD 475,000 for the year ended December 31, 2023[40] Revenue and Growth - Revenue from cleaning services increased to 74,611 thousand SGD in 2024, up from 66,454 thousand SGD in 2023, representing a growth of 12.9%[15] - Total revenue for 2024 reached 74,697 thousand SGD, compared to 66,538 thousand SGD in 2023, marking an increase of 12.9%[15] - Revenue from Singapore was 64,301 thousand SGD in 2024, up from 58,860 thousand SGD in 2023, reflecting a growth of 9.8%[17] Assets and Liabilities - Total assets as of December 31, 2024, were SGD 40.995 million, a decrease from SGD 44.475 million as of December 31, 2023[7] - Total liabilities as of December 31, 2024, were SGD 13.062 million, down from SGD 14.381 million as of December 31, 2023[8] - The company’s cash and cash equivalents as of December 31, 2024, were SGD 10.387 million, down from SGD 12.217 million as of December 31, 2023[7] - Trade receivables decreased slightly to 13,906 thousand SGD in 2024 from 14,066 thousand SGD in 2023, a decline of 1.1%[27] Expenses - Employee benefits expenses rose to 53,199 thousand SGD in 2024, compared to 44,158 thousand SGD in 2023, an increase of 20.5%[19] - Administrative expenses increased from approximately SGD 8.6 million for the year ended December 31, 2023, to approximately SGD 10.1 million for the year ended December 31, 2024[35] - The cost of sales for the year ended December 31, 2024, was approximately SGD 63.6 million, up about 10.4% from SGD 57.5 million for the year ended December 31, 2023[33] Dividends - The board proposed a final dividend of SGD 0.002 per share for the year ended December 31, 2024[4] - The company declared a final dividend of 0.002 SGD per share for the year ending December 31, 2024, subject to shareholder approval[26] - The board proposed a final dividend of SGD 0.002 per share for the year ended December 31, 2024, compared to SGD 0.0015 per share for the previous year[41] Company Operations and Governance - The group had 311 ongoing service contracts as of March 28, 2025, with an outstanding contract value of approximately SGD 66.9 million[30] - The group confirmed government subsidies totaling approximately SGD 1.5 million for the year ended December 31, 2024, compared to SGD 0.6 million for the previous year[34] - The company is committed to enhancing productivity through investments in technology and training, despite anticipated competitive pressures in the Singapore environmental services industry[31] - The company employed 2,846 employees as of December 31, 2024, an increase from 2,609 employees as of December 31, 2023[51] - The company has established a progressive salary scheme for local and permanent resident employees in compliance with Singapore's labor regulations[51] - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements for the year ending December 31, 2024, ensuring compliance with applicable accounting principles[54] - The company has independent non-executive directors to ensure governance and oversight[65] - The company has a diverse board of directors with expertise in different areas[65] Listing and Compliance - The company is listed on the Hong Kong Stock Exchange since July 3, 2020[63] - The company operates under the International Financial Reporting Standards[63] - The company maintains the required public float as per listing rules as of the announcement date[58] - The annual general meeting for shareholders is scheduled for May 15, 2025[59] - The company will suspend share transfer registration from May 12 to May 15, 2025, to determine shareholder eligibility for the annual general meeting[60] Strategic Initiatives - The largest allocation of funds is for cash flow mismatches, accounting for 52.2% of the total net proceeds, amounting to SGD 6.17 million[50] - The net amount raised from the company's listing is approximately SGD 11.8 million, with a revised allocation disclosed on December 21, 2023[50] - As of December 31, 2024, the company has utilized SGD 9.61 million of the net proceeds, leaving SGD 2.215 million unutilized[50] - The company is involved in various sectors, including environmental management and contracting services[63] - The company has a quality management system standard based on multiple quality management principles, including customer focus and continuous improvement[63] - The company has achieved the highest financial level in the FM02 category of the Singapore contractor registration system[63] - The company is committed to maintaining a clean and green environment in Singapore, as mandated by the National Environment Agency[63]

Revenue and Profitability - For the six months ended June 30, 2024, the total revenue of Hygieia Group Limited was approximately SGD 37.0 million, an increase of about 18.8% compared to SGD 31.1 million for the same period in 2023[6]. - Revenue for the six months ended June 30, 2024, was 36,982 thousand SGD, an increase of 18.5% compared to 31,120 thousand SGD for the same period in 2023[62]. - Clean services revenue reached 36,940 thousand SGD, up from 31,078 thousand SGD, reflecting a growth of 18.5% year-over-year[62]. - The net profit for the six months ended June 30, 2024, was approximately SGD 1.2 million, compared to SGD 92,000 for the same period in 2023[11]. - Operating profit increased significantly to 1,554 thousand, compared to 262 thousand in the previous year, marking a growth of 493.5%[33]. - Net profit for the period was 1,150 thousand, a substantial increase from 92 thousand in 2023, reflecting a year-over-year growth of 1,150%[33]. - The company reported a net profit attributable to shareholders of 1,092 thousand SGD for the six months ended June 30, 2024, compared to 76 thousand SGD in the same period of 2023, marking a significant increase[73]. - Basic and diluted earnings per share for the period were 0.055, compared to 0.0038 in the previous year, indicating a significant improvement[33]. Costs and Expenses - The cost of sales for the same period was approximately SGD 30.9 million, representing an increase of about 14.2% from SGD 27.1 million in 2023[7]. - The administrative expenses increased from approximately SGD 4.0 million in 2023 to approximately SGD 4.6 million in 2024, primarily due to increased employee benefits and professional fees[8]. - The financial costs decreased from approximately SGD 109,000 in 2023 to SGD 96,000 in 2024, mainly due to reduced interest expenses from borrowings[9]. - Employee benefits expenses increased to 25,041 thousand SGD, a rise of 22.5% from 20,401 thousand SGD in the previous year[67]. Assets and Liabilities - As of June 30, 2024, the group's current assets were approximately SGD 36.9 million, with cash and cash equivalents of about SGD 7.9 million[12]. - Total assets as of June 30, 2024, were 41,494 thousand, down from 44,475 thousand at the end of 2023[39]. - Current liabilities amounted to 11,257 thousand, slightly down from 11,676 thousand at the end of 2023[46]. - The total liabilities as of June 30, 2024, amounted to 7,419 thousand SGD, down from 8,218 thousand SGD as of December 31, 2023, indicating a decrease of approximately 9.7%[81]. - The company’s cash and cash equivalents decreased to 7,861 thousand SGD at the end of the period from 12,217 thousand SGD at the beginning of the period, indicating a decline of approximately 35.5%[55]. Contracts and Government Support - As of August 29, 2024, the group had 315 ongoing service contracts with an outstanding contract value of approximately SGD 81.4 million[4]. - The group confirmed government subsidies totaling approximately SGD 0.8 million for the six months ended June 30, 2024, compared to SGD 0.5 million in the previous year[8]. Employee and Operational Metrics - As of June 30, 2024, the group employed approximately 3,029 employees, an increase from 2,609 employees as of December 31, 2023[20]. - The group is focused on enhancing productivity through investments in technology and training, despite anticipated challenges in the Singapore environmental services industry[5]. - The group aims to establish and enhance its market position in the environmental services sector while providing consistent high-quality cleaning services[5]. Cash Flow and Dividends - Cash flow from operating activities showed a net outflow of 2,501 thousand SGD for the six months ended June 30, 2024, compared to an outflow of 1,818 thousand SGD for the same period in 2023, representing a worsening of cash flow performance[55]. - The company paid dividends totaling 3,000 thousand SGD during the period, an increase from 2,000 thousand SGD in the previous year, reflecting a commitment to returning value to shareholders[55]. - The company did not declare an interim dividend for the six months ended June 30, 2024, while a dividend of 3,000 thousand SGD was declared for the previous year[75]. Financial Reporting and Standards - The company has adopted new and revised International Financial Reporting Standards effective from January 1, 2024, which may impact future financial reporting and disclosures[59].

Financial Performance - The group's unaudited revenue for the six months ended June 30, 2024, was approximately SGD 37.0 million, an increase of about SGD 5.9 million or 18.8% compared to SGD 31.1 million for the same period in 2023[2] - The group's unaudited profit after tax for the six months ended June 30, 2024, was approximately SGD 1.2 million, an increase of about SGD 1.1 million compared to SGD 92,000 for the same period in 2023[2] - Basic and diluted earnings per share for the six months ended June 30, 2024, were SGD 0.055, compared to SGD 0.0038 for the same period in 2023[2] - The total comprehensive income for the six months ended June 30, 2024, was SGD 1.149 million, compared to SGD 107,000 for the same period in 2023[3] - The operating profit for the six months ended June 30, 2024, was SGD 1.554 million, compared to SGD 262,000 for the same period in 2023[3] - For the six months ended June 30, 2024, the company reported a profit attributable to owners of the company of 1,092 thousand SGD, a significant increase from 76 thousand SGD in the same period of 2023, representing a growth of 1,356.6%[26] - Basic and diluted earnings per share for the six months ended June 30, 2024, were 0.055 SGD, compared to 0.0038 SGD for the same period in 2023, reflecting an increase of 1,342.1%[26] - Revenue for the six months ended June 30, 2024, grew by 18.8% compared to the same period in 2023, driven by new large projects in Singapore and organic growth in the environmental services business in Thailand[33] Assets and Liabilities - The total assets as of June 30, 2024, were SGD 41.494 million, a decrease from SGD 44.475 million as of December 31, 2023[6] - The total liabilities as of June 30, 2024, were SGD 13.251 million, down from SGD 14.381 million as of December 31, 2023[6] - The equity attributable to the owners of the company as of June 30, 2024, was SGD 28.140 million, a decrease from SGD 30.049 million as of December 31, 2023[6] - The company’s trade receivables increased to 16,116 thousand SGD as of June 30, 2024, from 14,066 thousand SGD as of December 31, 2023, marking a growth of 14.5%[28] - The company’s total liabilities decreased to 7,419 thousand SGD as of June 30, 2024, from 8,218 thousand SGD as of December 31, 2023, a reduction of 9.7%[32] Cash Flow and Investments - The company generated a net cash inflow from investing activities of 2,707 thousand SGD, compared to a net cash outflow of 259 thousand SGD in the previous year[11] - Operating cash flow used was 2,501 thousand SGD for the first half of 2024, compared to 1,818 thousand SGD in the same period of 2023[11] - The company paid dividends of 3,000 thousand SGD, an increase from 2,000 thousand SGD in the previous year, reflecting a 50% increase[11] - The cash outflow from financing activities was 4,561 thousand SGD, compared to 3,920 thousand SGD in the same period last year, indicating an increase of 16.3%[11] Revenue Sources - The revenue from cleaning services was 36,940 thousand SGD, up from 31,078 thousand SGD, reflecting a growth of 18.5% year-over-year[19] - The company’s revenue from Singapore was 32,036 thousand SGD, up from 27,597 thousand SGD, marking a growth of 16.6% year-over-year[20] Expenses and Costs - Employee benefits expenses increased to 25,041 thousand SGD, up from 20,401 thousand SGD, representing a rise of 22.5% year-over-year[23] - Cost of sales for the same period was approximately SGD 30.9 million, up about 14.2% from SGD 27.1 million in 2023[36] - Gross profit increased from approximately SGD 4.1 million to about SGD 6.1 million, with the gross margin rising from 13.1% to 16.4% due to reduced labor-related expenses and increased government subsidies[37] - Administrative expenses increased from approximately SGD 4.0 million to SGD 4.6 million, primarily due to higher employee benefits and professional fees[38] Taxation - Tax expenses for the six months ended June 30, 2024, were approximately SGD 307,000, with an effective tax rate of 21.1%, compared to SGD 61,000 and 39.9% in 2023[42] - The effective corporate tax rate for Singapore was maintained at 17% for both periods under review[24] Employee and Governance - As of June 30, 2024, the group employed approximately 3,029 employees, an increase from 2,609 employees as of December 31, 2023, reflecting a growth of about 16%[52] - The company has established a progressive salary scheme for Singapore citizens and permanent residents, ensuring compliance with the Ministry of Manpower's salary levels for various cleaning workers[52] - The company is committed to high standards of corporate governance and has adopted a corporate governance code to ensure transparency and accountability to shareholders[53] - The company has not reported any significant labor disputes during the reporting period, indicating good employee relations[52] - The company is compliant with the Singapore Central Provident Fund Act, making mandatory contributions for local and permanent resident employees[52] Future Outlook and Strategy - The company has invested in digital solutions to enhance productivity and improve decision-making, aligning with the shift from headcount-based to outcome-based cleaning contracts[33] - The company anticipates continued challenges in the Singapore environmental services industry but aims to enhance productivity through investments in technology and training[34] Corporate Actions - The company has entered into an agreement to acquire 51% of Dongxing Life Convenience Store (Shenzhen) Co., Ltd. for HKD 34.2 million[48] - The company confirmed government grants totaling approximately SGD 0.8 million for the period, up from SGD 0.5 million in the previous year[37] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ended June 30, 2024, confirming compliance with applicable accounting principles and full disclosure[55] - The interim report for the six months ended June 30, 2024, will be sent to shareholders and published on the company's website at an appropriate time[59] Other Information - The company has established a cleaning score certification program to recognize businesses providing high-standard cleaning services through training and fair employment practices[58] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the reporting period[56] - The company has maintained the required public float as per listing rules as of the announcement date[57] - Other income decreased from approximately SGD 183,000 to SGD 95,000 due to lower average balances of fixed bank deposits and lower interest income[41] - Interest income decreased to 90 thousand SGD from 183 thousand SGD, indicating a decline of 50.8% year-over-year[21]