Financial Performance - For the fiscal year ending October 31, 2023, HPC Holdings Limited reported a revenue increase of approximately 42.54%, rising from about SGD 202.90 million to approximately SGD 289.20 million[8]. - The gross profit for the fiscal year increased from approximately SGD 12.09 million to SGD 13.00 million, reflecting a growth of about 7.40%, although the gross profit margin decreased from approximately 5.96% to 4.49%[8]. - The company achieved a net profit after tax of approximately SGD 3.10 million, marking a significant turnaround from a loss of SGD 424,000 in the previous period, representing an increase of about eight times[13]. - Total revenue for the fiscal year ended October 31, 2023, was SGD 289,235,000, an increase of 42.5% compared to SGD 202,915,000 in 2022[40]. - Gross profit for the same period was SGD 12,988,000, up from SGD 12,093,000, reflecting a gross margin improvement[40]. - Net profit for the year was SGD 3,102,000, a significant recovery from a net loss of SGD 424,000 in the previous year[40]. - Earnings per share (EPS) for the fiscal year was SGD 0.21, compared to a loss per share of SGD 0.01 in 2022[40]. - The company reported a profit before tax of SGD 4,156,000 for the fiscal year 2023, compared to a loss of SGD 2,530,000 in 2022[56]. Project and Contract Achievements - The company successfully secured four new projects in 2023, with a total contract value of SGD 229.04 million, including a SGD 101.74 million office building project awarded in July[4]. - The company successfully delivered the Silicon Box semiconductor wafer fabrication project and obtained temporary occupation permits in July and August 2023[6]. - The group is set to complete the Silicon Box semiconductor wafer plant in Q3 2023, with a contract value exceeding SGD 350 million[25]. - The group has successfully completed the construction of the North London Collegiate School and is expected to finish the Global Indian International School in Q1 2024[25]. Order Book and Future Projections - As of December 31, 2023, the company maintained a healthy order book valued at SGD 261.50 million[5]. - The total construction demand for 2024 is projected to be between SGD 32 billion and SGD 38 billion, with the public sector contributing about 55%[24]. - The construction demand in Singapore for 2023 reached SGD 33.8 billion, exceeding earlier forecasts of SGD 27 billion to SGD 32 billion[4]. Financial Position and Ratios - As of October 31, 2023, the current ratio of the group was 1.89, compared to 2.0 on October 31, 2022[16]. - The debt-to-equity ratio decreased to 21.10% as of October 31, 2023, from 23.20% a year earlier, primarily due to loan repayments related to the 7 Kung Chong Road project[17]. - Total assets as of October 31, 2023, were SGD 180,019,000, a slight increase from SGD 177,354,000 in 2022[42]. - Total liabilities decreased marginally to SGD 92,505,000 from SGD 92,942,000, indicating stable financial management[42]. - Retained earnings rose to SGD 42,420,000 from SGD 39,022,000, reflecting the company's profitability during the year[44]. - Cash and cash equivalents increased significantly to SGD 45,278,000 from SGD 23,949,000, enhancing liquidity[41]. Employee and Administrative Costs - Total employee costs for the fiscal year amounted to approximately SGD 32 million, up from SGD 29 million in the previous year[23]. - Administrative expenses increased to approximately SGD 7.45 million, up by about SGD 588,000 due to strong business growth leading to higher employee compensation and professional fees[11]. - The group has 1,007 employees as of October 31, 2023, including foreign workers[23]. Corporate Governance and Compliance - The company is committed to good corporate governance to fulfill its responsibilities to shareholders and enhance shareholder value[31]. - The chairman and CEO roles are currently held by the same individual, which the board believes is in the best interest of the company and shareholders[32]. - The company has adopted the corporate governance code and has complied with all mandatory disclosure requirements, except for specific provisions[31]. - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[33]. - The audit committee has reviewed the financial statements for the fiscal year, ensuring compliance with applicable standards and sufficient disclosures[33]. Dividends and Share Options - The company did not declare any interim dividends for the fiscal year, nor did it recommend any final dividends[14]. - No share options were granted or exercised during the fiscal year[28]. - The company has adopted a share option scheme allowing for a maximum issuance of 160,000,000 shares, which is 10% of the shares listed on the Hong Kong Stock Exchange since May 11, 2018[27]. Risks and Challenges - The group is facing challenges with declining gross margins due to high building material prices, labor costs, and intense competition among contractors[26]. - The group has no significant foreign exchange risk as most revenues and expenses are denominated in Singapore dollars[18]. - The group anticipates no liquidity issues due to effective cost management and local regulations on construction project settlements[15]. Trade Receivables and Payables - The company reported a decrease in trade receivables to SGD 40,525,000 from SGD 45,163,000, indicating improved cash flow management[41]. - Trade receivables amounted to SGD 59,950,000 in 2023, down from SGD 60,804,000 in 2022, with expected credit loss provisions increasing to SGD 19,425,000 from SGD 15,641,000[74]. - The aging analysis of trade receivables shows that overdue but not impaired receivables increased to SGD 25,426,000 in 2023 from SGD 14,097,000 in 2022[77]. - The total expected credit loss for trade receivables and contract assets was SGD 19,425,000 in 2023, reflecting a credit loss provision increase of SGD 3,784,000 from the previous year[78]. - The total trade payables and warranty payables decreased slightly to SGD 54,048,000 in 2023 from SGD 54,383,000 in 2022[80]. - The average credit period granted by contractors and suppliers is approximately 35 days, with trade payables of SGD 19,578,000 in 2023 compared to SGD 23,548,000 in 2022[83].

Financial Performance - For the six months ended April 30, 2023, the company's revenue surged approximately 120% to about SGD 167.73 million from approximately SGD 76.24 million in the previous period[10]. - The gross profit increased by approximately 41.79%, rising from about SGD 2.75 million to approximately SGD 3.90 million, although the gross margin decreased to 2.32% from 3.61%[10]. - The company recorded a net profit after tax of approximately SGD 1.94 million, a recovery of about 290% compared to a net loss of approximately SGD 1.02 million in the previous period[15]. - Revenue for the six months ended April 30, 2023, was SGD 167.725 million, a significant increase from SGD 76.245 million in the same period of 2022, representing a growth of 120%[56]. - Gross profit for the same period was SGD 3.898 million, up from SGD 2.749 million, indicating a year-over-year increase of 42%[56]. - The company reported a profit before tax of SGD 2.374 million compared to a loss of SGD 1.921 million in the previous year, marking a turnaround in performance[56]. - Basic and diluted earnings per share for the period were SGD 0.13, compared to a loss of SGD 0.06 per share in the same period last year[56]. Order Book and Projects - The total order book value remained robust at SGD 329.76 million as of April 30, 2023, despite competitive bidding conditions[6]. - The company successfully secured a new project, Tiong Nam Logistics (S) warehouse, with a contract value of SGD 36.50 million[6]. - The construction of the Silicon Box semiconductor wafer plant, with a contract value of SGD 314.60 million, is expected to be completed in Q3 2023[28]. - The construction of the Global Indian International School is anticipated to be completed in Q4 2023, enhancing the group's track record in the international school market[28]. - The group has a robust order book value of SGD 329.76 million as of April 30, 2023, allowing for better project selection for sustainable growth[31]. Market Outlook - The construction market in Singapore is expected to grow by 5.4% in 2023 compared to 2022, despite ongoing inflationary pressures[6]. - The construction industry in Singapore is projected to grow by 5.4% in 2023, driven by planned public housing projects[28]. - The demand for cold storage logistics warehouses is nearing full capacity, leading to rental increases exceeding those of 2022[29]. - The group remains cautiously optimistic about future performance, focusing on monitoring the overseas expansion of Chinese companies[31]. Financial Position - The current ratio as of April 30, 2023, was 1.9, compared to 2.0 as of October 31, 2022, indicating stable liquidity[18]. - The debt-to-equity ratio decreased to 19.18% as of April 30, 2023, from 23.17% as of October 31, 2022, due to gradual loan repayments[19]. - Total assets as of April 30, 2023, amounted to SGD 184.033 million, an increase from SGD 177.354 million as of October 31, 2022[57][58]. - The company’s total liabilities increased to SGD 97.684 million from SGD 92.942 million, reflecting a rise of 5%[58]. - The total liabilities reported were SGD 97,684,000, an increase of 5.9% from SGD 92,942,000 as of October 31, 2022[84]. Shareholder Information - As of April 30, 2023, the company has 1,600,000,000 shares issued[44]. - Mr. Wang Yingde holds 660,000,000 shares, representing 41.25% of the issued shares, while Mr. Shi Jianhua holds 540,000,000 shares, representing 33.75%[43]. - Tower Point Global Limited and Creative Value Investments Limited are the beneficial owners of the shares held by Mr. Wang and Mr. Shi, respectively[44]. - The total number of issued and paid-up ordinary shares remained at 10,000,000 as of April 30, 2023, with a share capital of SGD 100,000[152]. Expenses and Costs - Administrative expenses increased by approximately SGD 111,000 to about SGD 3.45 million for the six months ended April 30, 2023[13]. - The company’s administrative expenses for the six months were SGD 3.562 million, compared to SGD 3.451 million in the previous year, showing a slight increase of 3.2%[79]. - The depreciation expense for property, plant, and equipment was SGD 644,000, slightly down from SGD 655,000 in the previous year[91]. - The company reported a decrease in expenses related to short-term leases, which amounted to SGD 4,000 for the six months ended April 30, 2023, compared to SGD 114,000 for the same period in 2022[141]. Compliance and Governance - The interim financial statements have been reviewed and found to comply with International Accounting Standard 34[54]. - The company has complied with the proposed plans and uses of proceeds as stated in the prospectus[41]. - The company has not disclosed any other interests or positions held by directors or senior management in the company's shares as of April 30, 2023[48]. Cash Flow and Receivables - The net cash generated from operating activities for the six months was SGD 6.506 million, compared to a cash outflow of SGD 10.058 million in the previous year[61]. - Trade receivables increased to SGD 61.509 million from SGD 45.163 million, showing a growth of 36%[57]. - Cash and cash equivalents rose to SGD 29.135 million from SGD 23.949 million, indicating a growth of 21%[58]. - The overdue but not impaired trade receivables as of April 30, 2023, totaled SGD 33,925,000, significantly up from SGD 14,097,000 as of October 31, 2022[116]. Provisions and Liabilities - The provision for expected credit losses on trade receivables remained unchanged at SGD 15,641,000 for both April 30, 2023, and October 31, 2022[118]. - The provision for loss contracts increased to SGD 8,911,000 as of April 30, 2023, from SGD 8,466,000 as of October 31, 2022, with a new provision of SGD 445,000 recognized during the period[144]. - Non-current liabilities related to warranty obligations were valued at SGD 2,053,000, down from SGD 2,527,000, a decrease of 18.7%[133].

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的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全 部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 HPC HOLDINGS LIMITED （在開曼群島註冊成立的有限公司） （股份代號：1742） 截 至 二 零 二 三 年 四 月 三 十 日 止 六 個 月 的 中 期 業 績 公 告 管理層討論及分析 HPC Holdings Limited（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司及其附屬 公司（統稱「本集團」）截至二零二三年四月三十日止六個月（「中期期間」）的未經 審核綜合中期業績連同二零二二年相應期間（「過往期間」）的比較數字。 業務回顧 與二零二二年相比，二零二三年新加坡建築市場預期將更加穩定，且建築價格 波動較小。大部分建築材料及分包商報價更加平穩。然而，建築市場的項目投 標價格仍競爭激烈。根據新加坡建設局（「建設局」）的數據，二零二三年的建築 總需求預期較二零二二年增長5.4%，但全球通貨膨脹的加劇在很大程度上影 響了物價，且仍然保持在高位。 在上述不利因素的影響下，在目 ...

Performance Recovery - The group has achieved a gradual recovery in performance, approaching pre-pandemic levels, benefiting from strong competitiveness in local industrial real estate projects[7] - The company anticipates stable growth in 2023, with a focus on expanding local market share and restarting overseas business initiatives that were paused due to the pandemic[9] - The group expresses confidence in achieving substantial progress in overseas business as it resumes efforts that were previously on hold[9] - The construction industry in Singapore grew by 2.1% in 2022, reaching SGD 35,197 million, recovering to pre-pandemic activity levels[23] - The construction demand in Singapore is expected to recover in 2023, with projected annual total construction demand between SGD 25 billion and SGD 32 billion from 2023 to 2026[42] Financial Performance - The group's revenue for the fiscal year increased by approximately 7.64%, rising from about SGD 188.5 million to approximately SGD 202.9 million[27] - The gross profit surged from a loss of approximately SGD 1.05 million in the previous year to a profit of SGD 12.1 million, with a gross margin improvement from -0.56% to 5.96%[27] - The net loss after tax was approximately SGD 424,000, a 92% improvement compared to a loss of SGD 4.9 million in the previous period[31] - Administrative expenses decreased from approximately SGD 7.47 million to SGD 6.87 million, primarily due to reduced depreciation and staff reallocation[29] - The group anticipates a tax refund of approximately SGD 2.1 million due to increased operating income and provisions for foreseeable losses[30] Project Management - New projects awarded during the year have compensated for earlier projects significantly impacted by the pandemic, reflecting careful risk assessment[7] - The group maintained a cautious approach to project bidding, focusing on selective opportunities amid ongoing challenges[24] - The company plans to actively bid for new projects in its specialized segments and streamline resources for potential large industrial projects expected to be awarded in Q1 to Q2 2023[45] - The group secured two new projects in the second half of 2022, valued at SGD 314.60 million and SGD 14.90 million, respectively[24] - The group's order book remained robust at SGD 434.43 million as of December 31, 2022[24] Governance and Compliance - The company has adopted and complied with all applicable provisions of the Corporate Governance Code, except for the separation of the roles of Chairman and CEO[59] - The board consists of five members, with independent non-executive directors making up 60% of the board, ensuring a balanced governance structure[64] - The audit committee, established on April 19, 2018, consists of three independent non-executive directors and is responsible for overseeing financial reporting and risk management[75] - The company has established compliance procedures to ensure adherence to applicable laws and regulations, particularly those significantly impacting the group[131] - The board is responsible for reviewing and approving the effectiveness and appropriateness of the company's risk management and internal control systems[98] Employee and Shareholder Relations - The company acknowledges the contributions of shareholders, directors, executives, and employees in the past year, emphasizing teamwork for future growth[9] - Total employee costs for the fiscal year amounted to approximately SGD 29 million, up from SGD 27 million in the previous year[41] - The company aims to maintain a gender ratio of approximately 3:1 (male to female) among employees, despite the construction industry's historical lack of female talent in Singapore[71] - The company has adopted a board diversity policy, focusing on skills, experience, and diverse perspectives in candidate selection[71] - The company emphasizes maintaining good relationships with employees, customers, and subcontractors, conducting regular feedback channels to improve service quality[132] Environmental and Social Responsibility - The company has adopted an environmental policy that includes compliance with ISO 9001, ISO 45001, and ISO 14001 standards[129] - HPC is committed to designing and constructing sustainable buildings, focusing on user safety and reducing environmental impacts during construction and operation[193] - The company has established an environmental, health, and safety (EHS) committee and environmental control officers (ECO) at all project sites to ensure compliance with environmental policies[194] - The company aims to integrate sustainable design into its construction projects, seeking BCA Green Mark certification[197] - The company promotes waste reduction through recycling and reusing activities[196] Risk Management - The company faces various risks and uncertainties that could impact its business and financial performance[126] - The company has a risk management policy in place to identify, assess, and manage key risks affecting the business[97] - A review of the internal control effectiveness was conducted by Virtus Assure Pte Ltd, with no significant concerns affecting financial, operational, compliance, or risk management identified[100] - The audit committee is tasked with reviewing the integrity of financial statements and ensuring the independence of external auditors[76] - The company conducts regular reviews and improvements of its anti-money laundering policies and internal controls[183]

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的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全 部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 HPC HOLDINGS LIMITED （在開曼群島註冊成立的有限公司） （股份代號：1742） 截 至 二 零 二 二 年 十 月 三 十 一 日 止 年 度 的 年 度 業 績 公 告 HPC Holdings Limited（「本公司」或「HPC」）董事（「董事」）會（「董事會」）宣佈本公司及 其附屬公司（統稱「本集團」）截至二零二二年十月三十一日止財政年度（「本財政 年度」）的經審核綜合業績連同二零二一年相應期間（「過往期間」）的比較數字。 管理層討論及分析 業務回顧 於二零二二年，由於基礎設施及建築領域不斷增長，新加坡建築業已恢復至疫 情前的活動水平且二零二二年第二季度建築業產出錄得3.3%的增幅，而二零 二二年第一季度則錄得2.4%的增幅。總體而言，新加坡的建築業於二零二二年 增長2.1%，達到35,197百萬新加坡元。 然而，新加坡建築業仍遭受勞工短缺問題的阻礙，且俄烏戰爭亦造成油價上漲 ...

Financial Performance - For the six months ended April 30, 2022, the group's revenue decreased by approximately 34.78%, from about SGD 116.90 million to approximately SGD 76.24 million[12]. - The group's gross profit declined from approximately SGD 9.50 million for the six months ended April 30, 2021, to SGD 2.75 million, representing a decrease of about 71.05%[12]. - The gross profit margin fell to 3.61% during the current period, compared to 8.13% in the previous period[12]. - The group recorded a net loss of approximately SGD 1.02 million for the current period, a decrease of about 121.80% compared to a net profit of SGD 4.68 million in the previous period[17]. - Total revenue for the six months ended April 30, 2022, was SGD 76,245,000, a decrease of 34.8% compared to SGD 116,901,000 for the same period in 2021[60]. - Gross profit for the same period was SGD 2,749,000, down 71.1% from SGD 9,504,000 year-over-year[60]. - The company reported a loss before tax of SGD 1,921,000, compared to a profit of SGD 4,773,000 in the previous year[60]. - Basic and diluted loss per share was SGD 0.06, a decline from earnings of SGD 0.30 per share in the prior year[60]. - The company reported a loss attributable to owners of SGD 891,000 for the six months ended April 30, 2022, compared to a profit of SGD 4,742,000 in the same period of 2021, representing a significant decline[98]. Liquidity and Financial Position - As of April 30, 2022, the current ratio of the group was 2.5, compared to 2.4 on October 31, 2021, indicating strong liquidity management[20]. - The debt-to-equity ratio increased to 20.26% as of April 30, 2022, from 14.2% on October 31, 2021, primarily due to the drawdown of construction loans for the redevelopment project at 7 Kung Chong Road, Singapore[21]. - Total assets as of April 30, 2022, were SGD 146,509,000, a slight decrease from SGD 148,960,000 as of October 31, 2021[62]. - Total liabilities decreased to SGD 62,692,000 from SGD 64,124,000 year-over-year[62]. - Cash and cash equivalents were SGD 19,998,000, down from SGD 30,799,000 in the previous year[61]. - The company’s equity attributable to owners was SGD 83,827,000, a decrease from SGD 84,718,000 in the previous year[62]. Operational Highlights - The group maintained a robust order level of SGD 269 million as of April 30, 2022[8]. - The group successfully secured an additional contract for the LOGOS warehouse expansion and renovation, valued at SGD 27.36 million[8]. - The group has five ongoing projects, with expected completions ranging from Q4 2022 to Q2 2024[10]. - The company plans to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[60]. Corporate Governance - The Audit Committee has reviewed the unaudited interim financial statements for the six months ended April 30, 2022, and confirmed compliance with applicable standards and regulations[43]. - The company has adopted the corporate governance code as per the listing rules, except for the separation of roles between the Chairman and CEO, which is currently held by Mr. Wang Yingde[40]. - The company emphasizes the importance of good corporate governance to fulfill its responsibilities to shareholders and enhance shareholder value[40]. - The Audit Committee consists of three independent non-executive directors, ensuring effective oversight of financial reporting and internal controls[42]. Market Outlook - The construction demand in Singapore is forecasted to be between SGD 27 billion and SGD 32 billion for the year, excluding major developments like Marina Bay Sands and Sentosa Development[31]. - The semiconductor manufacturing sector is expected to see significant investment interest due to global chip shortages and strong infrastructure support in Singapore[32]. - The group remains cautiously optimistic about future performance as global social restrictions ease and national borders reopen, despite challenges from rising construction material costs[35]. Cash Flow and Investments - Operating cash flow before changes in working capital was SGD 3,834,000, down from SGD 6,558,000 year-on-year[65]. - Net cash used in operating activities was SGD 10,137,000, an improvement from SGD 11,750,000 in the previous year[66]. - The company incurred a net cash outflow from investing activities of SGD 5,613,000, compared to SGD 2,844,000 in the prior year[66]. - Financing activities generated a net cash inflow of SGD 4,952,000, a significant increase from a net outflow of SGD 938,000 in the previous year[66]. Shareholder Information - The company has a total of 1,600,000,000 shares issued as of April 30, 2022[48]. - Mr. Wang Yingde holds 660,000,000 shares, representing approximately 41.25% of the issued share capital, while Mr. Shi Jianhua holds 540,000,000 shares, representing approximately 33.75%[47]. - The company has adopted a share option scheme allowing for the issuance of up to 160 million shares, representing 10% of the shares listed on the Hong Kong Stock Exchange[36].

Financial Performance - For the six months ended April 30, 2022, the group's revenue decreased by approximately 34.78%, from about SGD 116.90 million to approximately SGD 76.24 million[8]. - The group's gross profit declined from approximately SGD 9.50 million for the six months ended April 30, 2021, to SGD 2.75 million, representing a decrease of about 71.05%[8]. - The gross profit margin fell to 3.61% for the current period, compared to 8.13% for the previous period[8]. - The group recorded a net loss of approximately SGD 1.02 million, a decrease of about 121.80% compared to a net profit of SGD 4.68 million in the previous period[13]. - The company reported unaudited revenue of SGD 76,245,000 for the six months ended April 30, 2022, a decrease of 34.8% compared to SGD 116,901,000 for the same period in 2021[46]. - Gross profit for the same period was SGD 2,749,000, down 71.1% from SGD 9,504,000 year-on-year[46]. - The company incurred a net loss attributable to owners of SGD 891,000, compared to a profit of SGD 4,742,000 in the previous year[46]. - The company reported a pre-tax loss of SGD 1,921 thousand for the six months ended April 30, 2022, compared to a profit of SGD 4,773 thousand in the same period of 2021[66]. - The company reported a profit of SGD 4,742 thousand for the six months ended April 30, 2021, while the profit for the same period in 2022 was not specified, indicating a potential decline in profitability[51]. Expenses and Costs - Administrative expenses decreased from approximately SGD 3.71 million to SGD 3.45 million, a reduction of about SGD 254,000[11]. - Total employee costs for the six months ended April 30, 2022, amounted to approximately SGD 13.9 million, slightly up from SGD 13.8 million in 2021[24]. - Other income decreased by approximately SGD 193,000 due to reduced government subsidies related to COVID-19[9]. - The company is facing challenges such as rising construction material costs and project cost overruns, impacting gross margins[30]. - The company recorded current tax expenses of SGD 37,331,000 for the six months ended April 30, 2022[6]. - Deferred tax expenses for the same period were recorded as a credit of SGD 797,000[6]. Assets and Liabilities - Total assets as of April 30, 2022, were SGD 146,509,000, a slight decrease from SGD 148,960,000 as of October 31, 2021[47]. - Trade receivables decreased to SGD 33,701,000 from SGD 45,229,000, indicating a reduction of 25.5%[47]. - Current liabilities were reported at SGD 45,577,000, down from SGD 49,445,000, reflecting a decrease of 7.1%[47]. - The company's cash and cash equivalents stood at SGD 19,998,000, down from SGD 30,799,000, a decline of 35.2%[47]. - Total liabilities decreased from SGD 64,124 thousand in 2021 to SGD 62,692 thousand in 2022, a reduction of approximately 2.2%[48]. - The company's retained earnings decreased from SGD 39,188 thousand in 2021 to SGD 38,297 thousand in 2022, a decline of about 2.3%[51]. - The total cash outflow related to leases for the six months ended April 30, 2022, was SGD 58,700,000, down from SGD 117,000,000 for the same period in 2021[111]. Cash Flow and Financing - Operating cash flow before changes in working capital was SGD 3,834 thousand in 2022, down from SGD 6,558 thousand in 2021, representing a decrease of approximately 41.5%[54]. - The net cash used in operating activities was SGD (10,137) thousand in 2022, compared to SGD (11,750) thousand in 2021, indicating an improvement of about 13.8%[55]. - The net cash inflow from financing activities was SGD 4,952,000, a substantial improvement from a net outflow of SGD 938,000 in the prior year, reflecting enhanced financing capabilities[56]. - The company reported a significant increase in deposits from SGD 1,544,000 in October 2021 to SGD 2,200,000 in April 2022, which is an increase of about 42.5%[94]. - The company reported a net cash inflow from bank borrowings of SGD 5,003,000, contrasting with a net repayment of SGD 835,000 in the previous year, highlighting a shift towards leveraging debt for growth[56]. Projects and Operations - The group maintained a healthy order book level of SGD 269 million as of April 30, 2022[4]. - The group successfully secured an additional engineering project with a contract value of SGD 27,360,429 for the LOGOS warehouse expansion and renovation[4]. - The group has five ongoing projects, with expected completions in Q4 2022 and Q1 2023 for various developments[6]. - The construction demand in Singapore is forecasted to be between SGD 27 billion and SGD 32 billion for the year, excluding any developments related to Marina Bay Sands and Sentosa Development projects[27]. - The group has implemented effective cost management and is gradually introducing low-risk loan financing to optimize capital costs[15]. Market and Economic Conditions - The group remains optimistic about financial performance improving in the next period despite ongoing challenges[7]. - The group remains cautiously optimistic about future performance as global social restrictions ease and borders reopen[30]. - Manufacturing sector growth was reported at 75% in 2021, driven by strong demand for semiconductors and continued growth in e-commerce and biomedical sectors[28]. - Rental rates for cold storage logistics warehouses have increased significantly, exceeding the growth seen in 2021 due to high demand and limited logistics space in Singapore[29]. Governance and Compliance - The company has adopted and complied with the corporate governance code, except for the separation of roles between the Chairman and CEO[36]. - The audit committee has reviewed the financial performance for the interim period, particularly the impact of COVID-19 on operations[38]. - The company has adopted all new and revised International Financial Reporting Standards (IFRS) effective from November 1, 2021, with no significant impact on the interim financial statements[60]. - The company is preparing for the adoption of new accounting standards that may affect future financial reporting, although they are not expected to have a significant impact on the financial statements for the first year of application[61]. Shareholder Information - The group has adopted a share option plan allowing for the issuance of up to 160 million shares, representing 10% of the company's shares listed on the Hong Kong Stock Exchange[32]. - As of April 30, 2022, there were no share options granted or unexercised[33]. - The company did not declare any dividends for the six months ended April 30, 2022[76].

Financial Performance - The financial performance for the fiscal year ending October 31, 2021, remains in a loss position, similar to the previous period [28]. - The group's revenue increased by 27.81% to approximately SGD 188.5 million from about SGD 147.5 million in the previous fiscal year [29]. - Gross profit declined to a loss of SGD 1.05 million, with a gross margin of -0.56%, down from a profit of approximately SGD 402,000 and a margin of 0.27% in the previous year [29]. - Other income decreased by approximately SGD 3 million due to reduced government subsidies as the economy gradually recovered [30]. - The company recorded a net loss of approximately SGD 5.0 million after tax, a decrease of SGD 341,000 or about 7.4% compared to the previous period [33]. - The company incurred a financial asset impairment loss of SGD 3.00 million for trade receivables, significantly higher than SGD 0.55 million in the prior year [181]. - The net loss for the year was SGD 4.96 million, slightly higher than the loss of SGD 4.62 million in the previous year [181]. - For the fiscal year ending October 31, 2021, the company reported a pre-tax loss of SGD 5,983,000, compared to a loss of SGD 5,332,000 in the previous year, indicating an increase in losses of approximately 12.3% [191]. Market Outlook - The company anticipates a V-shaped recovery in 2022, driven by a resilient economy and government policies in Singapore [9]. - The construction demand in Singapore is expected to steadily rise in the medium term, with public sector contributions projected to be between SGD 14 billion and SGD 18 billion annually from 2022 to 2025 [47]. - Private sector construction demand is anticipated to reach between SGD 11 billion and SGD 14 billion annually during the same period, contingent on successful COVID-19 treatment and vaccine deployment [47]. - The ongoing uncertainty in the market has led to irrational bidding strategies among some construction firms, exacerbating risks [7]. - The company is committed to strengthening its position in the fiscal year 2022 to reverse the poor performance of the fiscal year 2021 [48]. Operational Challenges - The construction industry faced significant challenges due to the pandemic, leading to increased labor and material costs, impacting project risks [7]. - The construction industry is expected to face a potential cost increase of 10% to 15% due to labor shortages and rising material costs [25]. - Due to COVID-19, the project completion date has been delayed to May 2022, with an expected increase in final construction costs [149]. - The Singapore government granted a general extension of 122 days for projects affected by COVID-19, which means DHC Construction is not expected to incur any penalty payments [150]. Corporate Governance - The company has adopted and complied with all applicable corporate governance codes as per the Hong Kong Stock Exchange [50]. - The board of directors consists of five members, with independent non-executive directors making up 60% of the board, ensuring a balanced and independent judgment [55]. - The company adopted a board diversity policy, emphasizing the importance of diverse skills, experiences, and perspectives in board appointments [62]. - The audit committee, established on April 19, 2018, consists of three independent non-executive directors, ensuring oversight of financial reporting and risk management [67]. - The company has established a governance framework to ensure effective oversight and accountability among its directors [80]. Employee and Operational Metrics - Employee costs totaled approximately SGD 27 million, up from SGD 26 million in the previous year [45]. - The group employed 861 staff members as of October 31, 2021, including foreign workers [44]. - The current ratio improved to 2.4 from 2.2 year-on-year, indicating better liquidity management [36]. - The debt-to-equity ratio decreased to 14.2% from 20.2%, primarily due to the repayment of a temporary transitional loan [37]. Shareholder Information - The company did not recommend a final dividend for the fiscal year [111]. - As of October 31, 2021, the company's distributable reserves included a share premium of SGD 69,777,000 and accumulated losses of SGD (6,153,000) [118]. - The company has maintained its capital development and operational balance while considering dividend payments [102]. Project and Contract Information - The company reported a project contract value exceeding SGD 300 million, indicating a strong pipeline for future growth [9]. - HPC secured contracts totaling SGD 151.46 million in 2021, a decrease of SGD 40 million compared to SGD 356 million in the same period of 2020 [25]. - The total contract amount for the project awarded to DHC Construction is SGD 6,806,725 [147]. - DHC Construction will be responsible for rebuilding the property into a seven-story industrial building [148]. Financial Position - Total revenue for the fiscal year ended October 31, 2021, was SGD 188.51 million, an increase of 27.8% from SGD 147.49 million in the previous year [181]. - Total assets decreased to SGD 148.96 million from SGD 172.08 million, a decline of 13.4% [183]. - The company's equity attributable to owners decreased to SGD 84.72 million from SGD 89.40 million, a decrease of 5.9% [186]. - The company has not adopted any new accounting standards that would have a significant impact on its financial performance or position for the current fiscal year [197].

Revenue and Financial Performance - The group's revenue for the fiscal year increased by 27.81%, from approximately SGD 147.5 million to approximately SGD 188.5 million[9]. - The group completed contract works amounting to approximately SGD 189 million in the fiscal year, compared to SGD 147 million in the previous period, indicating a recovery in output[6]. - The group recorded a net loss after tax of approximately SGD 5.0 million, a decrease of SGD 341,000 or about 7.4% compared to the previous period[14]. - The gross profit for the fiscal year declined to a loss of SGD 1.05 million, with a gross margin decrease of 0.83 percentage points to -0.56%[9]. - Total revenue for the fiscal year ended October 31, 2021, was SGD 188.51 million, an increase of 27.8% from SGD 147.49 million in 2020[46]. - Cost of sales for the same period was SGD 189.56 million, up from SGD 147.09 million, resulting in a gross loss of SGD 1.05 million compared to a gross profit of SGD 0.40 million in 2020[46]. - The company reported a net loss of SGD 4.96 million for the year, slightly higher than the net loss of SGD 4.62 million in 2020[46]. - The group reported a pre-tax loss of (5,983) thousand SGD in 2021, compared to a loss of (5,332) thousand SGD in 2020, reflecting a decline of about 12.2%[75]. - The company reported a loss attributable to owners of SGD 4,682,000 in 2021, compared to a loss of SGD 4,569,000 in 2020[79]. Contracts and Order Book - The total value of contracts awarded to the group was SGD 151.46 million, a decrease from SGD 356 million in the previous year, with a current order book of SGD 316 million[4]. - The group is actively competing for new projects in its specialized market segments, with potential large industrial projects expected to be awarded in Q1 to Q2 of 2022[7]. - The total amount of unfulfilled performance obligations in construction contracts was SGD 315,596,000 in 2021, down from SGD 356,164,000 in 2020, a decrease of 11.4%[100]. Expenses and Cost Management - Administrative expenses were reduced from approximately SGD 12.9 million to SGD 7.4 million, reflecting a significant decrease due to the absence of idle costs[12]. - The company's equity attributable to owners decreased to SGD 84.72 million from SGD 89.40 million in the previous year[50]. - The group has effectively managed cash flow and cost management, ensuring no liquidity issues are anticipated[16]. - The Group's administrative expenses decreased to SGD 7,471,000 in 2021 from SGD 12,953,000 in 2020, a reduction of 42.5%[64]. Assets and Liabilities - Total assets as of October 31, 2021, were SGD 172.08 million, down from SGD 148.96 million in 2020[49]. - Current liabilities decreased to SGD 64.92 million from SGD 49.45 million, while total liabilities decreased from SGD 82.28 million to SGD 64.12 million[50]. - Cash and cash equivalents decreased significantly to SGD 30.80 million from SGD 63.00 million[49]. - The carrying amount of right-of-use assets decreased from SGD 1,767,000 in 2020 to SGD 879,000 in 2021, with depreciation of SGD 120,000 in both years[108][110]. Employee and Compensation - Total employee costs for the fiscal year amounted to approximately SGD 27 million, an increase from SGD 26 million in the previous year[26]. - The group has 861 employees as of October 31, 2021, including foreign workers[26]. - Employee compensation, including directors' remuneration, totaled 27,424 thousand SGD in 2021, up from 26,094 thousand SGD in 2020, an increase of approximately 5.1%[71]. Government and Economic Outlook - The construction industry in Singapore is projected to have a total construction demand between SGD 23 billion and SGD 28 billion for 2021, an increase from SGD 21.3 billion in 2020[3]. - The public sector is expected to contribute between SGD 14 billion and SGD 18 billion annually to construction demand from 2022 to 2025[29]. - Private sector construction demand is projected to reach SGD 11 billion to SGD 14 billion annually during the same period[29]. - The overall construction industry in Singapore grew by 18.7% in 2021, recovering from a 35.9% contraction in 2020[31]. Financial Management and Governance - The company has complied with the corporate governance code and has established an audit committee consisting of three independent non-executive directors[39]. - The independent auditor confirmed that the consolidated financial statements for the fiscal year are consistent with applicable standards and regulations[41]. - The company did not purchase, sell, or redeem any of its listed securities during the fiscal year[42]. Investments and Acquisitions - The group acquired 100% equity of Aasperon Venture Pte Ltd for SGD 3.8 million, which will be used to develop worker accommodation facilities[24]. - The group sold 100% equity of Aasperon Venture Pte Ltd for SGD 4.2 million on May 4, 2021[25]. - The identifiable asset of Aasperon Venture Pte. Ltd. at the acquisition date was a leased building with a fair value of SGD 3,800,000[118]. Cash Flow and Financing - The group has obtained a temporary transitional loan of SGD 5 million from the Singapore government to support operational funding needs during the pandemic[18]. - The cash balance in bank accounts decreased significantly from SGD 46,962,000 in 2020 to SGD 15,709,000 in 2021, a drop of 66.6%[102]. - The company’s bank loans due in 2035 amounted to SGD 720,000 in 2021, unchanged from 2020, while transitional loans due in 2025 decreased from SGD 956,000 to zero[112][114].

Financial Performance - Revenue for the six months ended April 30, 2021, increased by 27.81% to approximately SGD 116.90 million from approximately SGD 91.46 million in the corresponding period of 2020[11]. - Gross profit rose by approximately 29.13% from about SGD 7.36 million to SGD 9.50 million, with a stable gross margin of 8.13% compared to 8.05% in the previous period[11]. - The company recorded a net profit of approximately SGD 4.68 million, an increase of about 12.78% or SGD 0.53 million compared to the previous period[16]. - Revenue for the six months ended April 30, 2021, was SGD 116.901 million, an increase of 27.8% compared to SGD 91.462 million for the same period in 2020[61]. - Gross profit for the same period was SGD 9.504 million, representing a gross margin of 8.1%[61]. - The company reported a net profit of SGD 4.675 million, up from SGD 4.150 million in the previous year, reflecting a growth of 12.7%[61]. Order Book and Projects - The total contract value of two new projects, Ten League Warehouse and Global Indian International School, amounted to SGD 120.40 million, raising the order book to SGD 408.35 million as of April 30, 2021[7]. - The group has a robust order book valued at SGD 408.35 million as of April 30, 2021, providing flexibility to select better projects in the coming months[34]. - The construction demand in Singapore for 2021 is projected to be between SGD 23 billion and SGD 28 billion, with the public sector expected to account for 65% of this demand[31]. Financial Position and Liquidity - The current ratio improved to 2.5 as of April 30, 2021, compared to 2.2 as of October 31, 2020, indicating strong liquidity[19]. - Total assets as of April 30, 2021, were SGD 165.873 million, a decrease from SGD 172.075 million as of October 31, 2020[62][63]. - Current liabilities decreased to SGD 53.747 million from SGD 64.918 million, indicating improved liquidity[63]. - The company’s cash and cash equivalents were SGD 47.470 million, down from SGD 63.002 million, highlighting a reduction in cash reserves[62]. - The group received a temporary transitional loan of SGD 5 million from the Singapore government to assist with operational funding needs, with a term of five years[20]. Expenses and Costs - Administrative expenses decreased from approximately SGD 4.86 million to SGD 3.71 million, a reduction of about SGD 1.15 million due to the recovery of business activities[14]. - Total employee costs for the six months ended April 30, 2021, amounted to approximately SGD 13.8 million, a slight decrease from SGD 14.1 million in 2020[28]. - The company incurred material, subcontractor, and other construction costs amounting to SGD 95.677 million for the six months ended April 30, 2021, compared to SGD 72.528 million in the previous year[95]. Corporate Governance and Compliance - The audit committee reviewed the interim financial results for the six months ending April 30, 2021, and confirmed that the financial statements were prepared in accordance with applicable standards and regulations[42]. - The company has adopted and complied with all applicable provisions of the Corporate Governance Code, except for the separation of roles between the Chairman and the CEO, which is currently held by the same individual[40]. - The company has confirmed compliance with the Securities Trading Code for directors during the six-month period ending April 30, 2021[38]. Share Capital and Dividends - The company did not declare any interim dividend for the six months ended April 30, 2021[17]. - The company has adopted a share option scheme allowing the issuance of up to 160 million shares, representing 10% of the shares listed on the Hong Kong Stock Exchange[36]. - The company’s issued and paid-up share capital remained at SGD 2,725,000 with 1,600,000 shares as of April 30, 2021[161]. Debt and Borrowings - The group's total borrowings as of April 30, 2021, resulted in a debt-to-equity ratio of 18.24%, down from 20.24% on October 31, 2020, primarily due to timely repayment of borrowings[20]. - The total borrowings as of April 30, 2021, were SGD 13,945,000, slightly down from SGD 14,780,000 as of October 31, 2020[156]. - The company has a total of SGD 12,269,000 in non-current borrowings, which decreased from SGD 13,104,000 in the previous year[156]. Employee and Health Measures - As of the report date, nearly 42% of the group's employees have been vaccinated against COVID-19, with an expectation to reach 100% vaccination by the end of August 2021[30]. Cash Flow and Investments - Operating cash flow before changes in working capital decreased to SGD 3,558,000 in 2021 from SGD 6,695,000 in 2020, reflecting a decline of approximately 47%[66]. - The company experienced a net cash outflow of SGD 15,532,000 in the six months ended April 30, 2021, compared to a net cash inflow of SGD 17,110,000 in the same period of 2020[67]. - Interest income increased to SGD 428,000 in 2021 from SGD 75,000 in 2020, suggesting improved financial management or investment returns[66]. Trade Receivables and Credit Management - Trade receivables increased to SGD 56,610,000 as of April 30, 2021, compared to SGD 44,886,000 as of October 31, 2020, representing a growth of approximately 26.5%[117]. - The provision for expected credit losses on trade receivables increased to SGD 4,150,000 as of April 30, 2021, from SGD 1,150,000 as of October 31, 2020[126]. - The overdue but not impaired trade receivables amounted to SGD 20,198,000 as of April 30, 2021, down from SGD 22,643,000 as of October 31, 2020, indicating a decrease of approximately 10.8%[124].