Financial Performance - The Group's revenue for the Relevant Period was $7.2 million, an increase of $1.9 million or 35.3% compared to $5.3 million in the Previous Period[12] - The Group's profit for the Relevant Period was $244,000, up from a profit of $33,000 in the Previous Period[12] - Gross profit for Q2 2023 was $1.967 million, compared to $1.229 million in Q2 2022, reflecting a significant increase[14] - Total revenue for Q2 2023 was $7,189,000, an increase of 35.2% compared to $5,315,000 in Q2 2022[38] - Segment profit for Q2 2023 reached $1,967,000, up 60.2% from $1,229,000 in Q2 2022[40] - Profit attributable to Shareholders was $244,000 in the Relevant Period, a significant increase of 639.4% from $33,000 in the Previous Period[106] - The company reported a net profit of MYR 10 million for Q2 2023, a 20% increase from MYR 8.33 million in Q2 2022[192] Dividends and Earnings - The Board has resolved not to declare any dividend for the Relevant Period[12] - The Group did not declare any dividends for Q2 2023, consistent with Q2 2022[55] - Basic earnings per share for Q2 2023 was $0.03, compared to less than $0.01 in Q2 2022[55] Assets and Liabilities - Total assets as of March 31, 2023, were $19.038 million, slightly down from $19.176 million as of September 30, 2022[16] - Total equity attributable to shareholders increased to $16.619 million from $16.375 million[16] - Current liabilities decreased to $1.179 million from $1.549 million[16] - Trade receivables as of March 31, 2023, amounted to $2,313,000, up from $2,199,000 as of September 30, 2022[59] - Trade payables as of March 31, 2023, were $550,000, down from $795,000 as of September 30, 2022[73] Cash Flow and Financial Health - The Group's cash and cash equivalents increased to $1.072 million from $807,000[16] - The net cash generated from operating activities for Q2 2023 was $436,000, a significant improvement compared to a cash outflow of $1,180,000 in Q2 2022[19] - The net increase in cash and bank balances for Q2 2023 was $265,000, contrasting with a decrease of $2,759,000 in the same period last year[19] - Cash and bank balances as of March 31, 2023, were $1.1 million, up from $0.8 million as of September 30, 2022[109] - The current ratio as of March 31, 2023, was 3.7 times, compared to 2.8 times as of September 30, 2022[108] - As of March 31, 2023, the Group had a gearing ratio of 2%, a decrease from 5% as of September 30, 2022[121] - The Group had no outstanding interest-bearing bank loans as of March 31, 2023, compared to an outstanding loan of $9,000 as of September 30, 2022[123] Operational Insights - The Group's principal activity remains the supply of tissue products to corporate customers in Singapore, with a focus on tissue and hygiene-related products[31] - The company provides comprehensive services for tissue products, including sourcing, quality control, and delivery[77] - The company upgraded its conversion line for the production of jumbo roll tissues, completing the upgrade successfully[144] - The commercial production of jumbo roll tissues has commenced using the upgraded conversion line[144] - The factory extension has been completed, and lifting equipment has been purchased as part of the expansion strategy[144] Market and Strategic Outlook - The company is optimistic about achieving sustainable growth and is committed to delivering greater returns to shareholders[95] - The company provided an optimistic outlook for FY2023, projecting a revenue growth of 20% to 30% based on current market trends and user acquisition strategies[188] - Market expansion plans include entering two new Southeast Asian countries by the end of FY2023, which is anticipated to increase market share by 15%[188] - The company is considering strategic acquisitions to bolster its product offerings and market presence, with a budget of up to HKD 50 million allocated for potential deals[188] Governance and Compliance - The company has adopted and complied with the Corporate Governance Code, with a noted deviation regarding the roles of Chairman and Chief Executive Officer being held by the same individual[177] - The Audit Committee consists of three independent non-executive Directors, who have reviewed the unaudited condensed consolidated financial statements for the Relevant Period[178] - The company has entered into a Deed of Non-competition with its Controlling Shareholders to avoid any business competition[167] Employee and Talent Management - Total employee costs, including Directors' remuneration, were $1.2 million for the Relevant Period, up from $1.0 million in the previous period[131] - The Group employed a total of 33 employees as of the end of the Relevant Period, an increase from 26 employees in the previous period[131] - Short-term employee benefits for key management personnel were $553,000 in Q2 2023, compared to $482,000 in Q2 2022[75] - The board approved a new remuneration scheme aimed at retaining key talent, which is expected to increase operational efficiency by 5%[194]

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）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份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。 SUNLIGHT (1977) HOLDINGS LIMITED 日 光（1977）控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：8451） 截 至2023年3月31日 止 六 個 月 的 中 期 業 績 公 告 日光(1977)控股有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈，本公 司及其附屬公司截至2023年3月31日止六個月之未經審核簡明綜合業績。 本公告載列本公司2023中期報告（「報告」）全文，並符合聯交所GEM證券上 市規則（「GEM上市規則」）內有關中期業績初步公告附載資料的相關規定。 報 告 之 印 刷 版 本 載 有GEM上 市 規 則 所 規 定 之 資 料，將 按 照GEM上 市 規 則 所規定之方式適時寄發予本公司股東。 代表 日光(1977)控股有限公司 主席兼行政總裁 蔡良聲 ...

Financial Performance - The Group reported a revenue of SGD 3,662,000 for Q1 2023, representing a 40% increase from SGD 2,614,000 in Q1 2022[12] - Gross profit for Q1 2023 was SGD 943,000, up 43.5% from SGD 657,000 in Q1 2022[12] - Profit before taxation increased to SGD 50,000 in Q1 2023, compared to SGD 18,000 in Q1 2022, marking a 177.8% growth[12] - The earnings per share for Q1 2023 was SGD 0.01, compared to less than SGD 0.01 in Q1 2022[12] - The total comprehensive income for the period was SGD 50,000, significantly higher than SGD 18,000 in the same period last year[12] - Revenue for Q1 2023 was $3.7 million, an increase of 40.1% compared to Q1 2022, primarily due to higher orders of tissue products from corporate customers[42] - Profit for Q1 2023 was $50,000, representing a 177.8% increase from Q1 2022, mainly driven by the increase in revenue[42] - Sales of tissue products amounted to $3.26 million in Q1 2023, up from $2.28 million in Q1 2022, reflecting a growth of 43.2%[28] - Hygiene-related products generated revenue of $231,000 in Q1 2023, compared to $209,000 in Q1 2022, marking an increase of 10.6%[28] - The profit attributable to shareholders for the Relevant Period was $50,000, representing an increase of 177.8% compared to $18,000 in the Previous Period[68][72] - Revenue for the Relevant Period was $3.7 million, an increase of $1.1 million or 40.1% from the Previous Period revenue of $2.6 million[60][62] Expenses and Costs - Administrative expenses rose to SGD 452,000 in Q1 2023 from SGD 323,000 in Q1 2022, reflecting a 40% increase[12] - The cost of inventories recognized in cost of sales was $2.52 million in Q1 2023, up from $1.82 million in Q1 2022, indicating a rise of 38.7%[30] - Cost of sales increased from $2.0 million to $2.7 million, representing an increase of 38.9%[61][63] - Selling and distribution expenses rose from $361,000 to $443,000, an increase of 22.7%[65][69] - Administrative expenses increased from $323,000 to $452,000, representing a rise of 39.9% due to global inflation[66][70] Corporate Governance and Compliance - The Group's financial results are unaudited, highlighting the need for careful consideration by investors[12] - The report will be available on the Stock Exchange's website for at least 7 days, ensuring transparency and accessibility of information[6] - The company has adopted the Corporate Governance Code to ensure proper regulation of business activities and decision-making processes[101] - The Audit Committee consists of three independent non-executive directors, ensuring appropriate financial oversight[103] - All Directors confirmed compliance with the Required Standard of Dealings during the Relevant Period[92] - There were no competing interests reported by Directors or Controlling Shareholders during the Relevant Period[94] - All directors confirmed compliance with the trading standards during the relevant period[98] Market and Operational Strategy - The company is primarily engaged in supplying tissue products to corporate customers in Singapore, indicating a focus on market expansion in this sector[18] - The company continues to supply tissue products to corporate customers in Singapore, with no significant impact on operations due to COVID-19 restrictions during the relevant period[40][41] - The company has implemented strategies to mitigate risks associated with COVID-19, including appointing external logistics providers and stocking up on inventory[41] - The overall strategy during the COVID-19 pandemic has been to avoid self-inflicted interruptions to operations, with all employees vaccinated[51][53] - The company is optimistic about achieving sustainable growth and is committed to delivering greater returns to shareholders[56][58] Shareholder Information - Mr. Chua Liang Sie and Mr. Chua Liang Chui hold a combined total of 576,000,000 shares in YJH Group Limited, representing 72% of the total issued shares[76] - Mr. Chua Liang Sie owns approximately 82.76% of YJH Group Limited, while Mr. Chua Liang Chui owns 17.24%[80] - No share options have been granted under the Share Option Scheme since its adoption, and there are no outstanding options as of the end of the Relevant Period[89] - The Company did not redeem any of its listed securities during the Relevant Period[91] - The company has not repurchased any of its listed securities during the relevant period[97] - The company will continue to review the separation of the roles of Chairman and Chief Executive Officer as appropriate[102] Future Outlook - Forward-looking statements in the report involve known and unknown risks that could cause actual results to differ materially[107] - The company has projected a revenue growth of YY% for the full fiscal year 2023, driven by new product launches and market expansion strategies[122] - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the industry[124] - A new marketing strategy has been implemented, aiming to increase brand awareness and customer engagement by FF%[124] - The company has successfully restructured its operations, resulting in improved efficiency and cost savings of approximately S$GG million annually[124]

Financial Performance - The company reported a significant increase in revenue, achieving SGD 10 million, representing a 25% growth compared to the previous year[7] - Revenue increased by 2.2% from $11.8 million in FY2021 to $12.0 million in FY2022[20] - Profit increased by 5.7% from $246,000 in FY2021 to $260,000 in FY2022, mainly due to changes in tax estimates[20] - The company reported a net profit margin of 15%, reflecting improved operational efficiency compared to 12% last year[7] - Revenue for the Relevant Year was $12.0 million, representing an increase of $0.2 million or 2.2% compared to the Previous Year revenue of $11.8 million[46] Market and Product Development - User data indicates a rise in active customers, with a 15% increase year-over-year, totaling 50,000 active users[7] - The company has set a future revenue guidance of SGD 12 million for the next fiscal year, projecting a growth rate of 20%[7] - New product launches include the SUNLIGHT M-FOLD PAPER TOWEL and SUNLIGHT H-FOLD PAPER TOWEL, expected to enhance market share[1] - Market expansion plans include entering two new Southeast Asian countries by the end of the fiscal year, targeting a 10% market penetration[7] - The company is exploring potential acquisitions to diversify its product offerings and enhance competitive advantage[7] Research and Development - The company is investing SGD 1 million in R&D for new technologies aimed at improving product efficiency and sustainability[7] - The company continues to monitor new tissue product developments and seeks competitive pricing for quality products[24] Corporate Governance - The board of directors confirmed their commitment to maintaining high corporate governance standards, ensuring transparency and accountability[6] - The company is committed to maintaining high standards of corporate governance and financial transparency[100] - The independent non-executive directors play a crucial role in overseeing the Group's compliance and risk management[100] - The Board is responsible for formulating strategies and enhancing Shareholders' value while maintaining high standards of corporate governance[138] - The company has a compliance officer to oversee adherence to legal and regulatory requirements[122] Financial Position and Assets - As of September 30, 2022, the Group had total assets of $19.2 million, a decrease from $21.0 million in 2021, with total liabilities of $2.8 million and shareholders' equity of $16.4 million[63] - The current ratio improved to 2.8 times in 2022 from 1.7 times in 2021, indicating better liquidity management[63] - Cash and bank balances decreased to $0.8 million in 2022 from $3.7 million in 2021, primarily held in SGD[63] - The total interest-bearing bank borrowings were $9,000 in 2022, down from $100,000 in 2021, with a consistent annual interest rate of 3%[63] - The gearing ratio increased to 5% in 2022 from 1% in 2021, reflecting a higher proportion of debt relative to total capital[63] Operational Efficiency - Gross profit decreased by 3.5% from $2.9 million in FY2021 to $2.8 million in FY2022 due to worldwide inflation[20] - Selling and distribution expenses increased from $1.4 million to $1.5 million, representing an increase of 2.4%[60] - Administrative expenses decreased from $1.5 million to $1.4 million, representing a decrease of 7.7%[60] - The company has unutilised banking facilities of $4,000,000 on standby[49] Management and Leadership - The overall strategy and planning of the company are overseen by the executive director, who has over 40 years of experience in the tissue product industry[87] - The company has a strong management team with diverse backgrounds in finance, sales, and marketing, enhancing its operational capabilities[97] - Mr. Cai Liangshu has over 40 years of experience in the hygiene paper products industry, having joined Sunlight Paper in July 1982[93] - Mr. Chua Wenhao joined the Group in September 2013 and was appointed as Deputy Chief Executive Officer, responsible for implementing the Group's strategies[97] Compliance and Risk Management - The Company has established specific written terms of reference for Board Committees, clearly defining their authority and duties[145] - The Company has implemented adequate systems of internal controls and risk management procedures as part of its governance practices[151] - The Board's role includes determining appropriate corporate governance practices applicable to the Company's circumstances[156] - The Company has maintained a high level of corporate governance, reviewing policies and compliance with legal and regulatory requirements[150] Shareholder Returns - The company is committed to delivering greater returns to shareholders[25] - The net proceeds from the Share Offer were $4.6 million, intended for future plans as outlined in the report[73]

Financial Performance - For Q3 2022, the company reported revenue of SGD 8,488,000, a decrease of 2.2% from SGD 8,680,000 in Q3 2021[18] - Gross profit for Q3 2022 was SGD 1,966,000, down 12.1% from SGD 2,238,000 in Q3 2021[18] - The company incurred a loss before taxation of SGD 30,000 in Q3 2022, compared to a profit of SGD 225,000 in Q3 2021[18] - Total comprehensive income for the period was SGD 70,000, a decline of 57.4% from SGD 165,000 in the same period last year[18] - Basic and diluted earnings per share for Q3 2022 were 0.01 cents, down from 0.02 cents in Q3 2021[18] - Profit attributable to equity holders for Q3 2022 was SGD 70,000, down from SGD 165,000 in Q3 2021[84] - Profit for the Relevant Period was $70,000, a decrease of 57.6% compared to the Previous Period, mainly due to higher operating costs and changes in other income[99] - Cost of sales amounted to $6.5 million, an increase of $0.1 million or 1.2% compared to $6.4 million in the Previous Period[110] - Profit attributable to Shareholders was $70,000 in the Relevant Period, down from $165,000 in the Previous Period[110] Revenue Breakdown - Revenue from tissue products was SGD 7,457,000, slightly down from SGD 7,467,000 in the previous year[66] - Revenue from hygiene-related products decreased by 27.8% to SGD 619,000 from SGD 857,000 in Q3 2021[66] - Revenue for the Relevant Period was $8.5 million, a decrease of 2.2% compared to the Previous Period, primarily due to lower orders from corporate customers affected by COVID-19[99] - Sales of hygiene-related products decreased by $238,000, representing a decrease of 27.8% due to the COVID-19 pandemic[110] - Sales of other products increased by $56,000, representing an increase of 15.7%[110] Expenses and Costs - Selling and distribution expenses decreased to SGD 1,081,000 in Q3 2022 from SGD 1,067,000 in Q3 2021, reflecting a slight increase of 1.3%[18] - Administrative expenses were SGD 1,010,000 in Q3 2022, a decrease from SGD 1,122,000 in Q3 2021, indicating a reduction of 10%[18] - Staff costs for Q3 2022 were SGD 1,349,000, a decrease from SGD 1,474,000 in Q3 2021[73] - The increase in ocean freight charges significantly impacted operating costs, leading to higher cost of goods sold, which is considered a short-term consequence of COVID-19[99] - The company adjusted selling prices to match the cost of inventory as part of a cost-plus pricing policy[110] Strategic Focus and Future Outlook - The company continues to focus on market expansion and product development strategies to enhance future performance[18] - The company plans to continue evaluating development opportunities to strengthen its competitive advantage and market position[102] - The company aims to monitor new tissue product developments and source competitively priced tissue products to enhance its offerings[102] - The company is optimistic about recovering revenue as most COVID-19 restrictions were lifted on March 29, 2022, and April 26, 2022[102] - The company is planning to expand its market presence in Southeast Asia, targeting a market share increase of CC% by the end of 2023[181] - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance production capacity by DD%[182] - The company has set a performance guidance of achieving a net profit margin of EE% for the next fiscal year[179] - The management emphasized a commitment to sustainability, aiming for a reduction in carbon footprint by HH% over the next five years[185] Corporate Governance - The company has adopted and complied with the Corporate Governance Code, with a noted deviation regarding the roles of chairman and chief executive[156] - Mr. LS Chua serves as both chairman and chief executive officer, a decision supported by the Board due to his contributions and familiarity with operations[157] - The Audit Committee consists of three independent non-executive Directors, with Ms. Lye Kheng Joke Sylvia serving as the chairlady[159] - The company believes that the dual role of the Chairman and CEO is in the best interest of the Group, given the contributions of Mr. Chua Liang Sie[158] - The company will continue to review the appropriateness of separating the roles of Chairman and CEO as necessary[158] Operational Resilience - The Group's operations are not significantly affected by seasonality, maintaining stable revenue streams[70] - There were no interruptions to the supply of inventory despite the COVID-19 pandemic[110] - The company maintains close communication with vendors to ensure a continuous supply of tissue products[102] - The overall strategy during the pandemic is to avoid self-inflicted interruptions to operations, with all employees vaccinated against COVID-19[102] Shareholder Information - YJH Group Limited holds a long position of 576,000,000 shares, representing 72% of the total issued shares[132] - Mr. Chua Liang Sie owns approximately 82.76% of YJH Group Limited, while Mr. Chua Liang Chui owns 17.24%[135] - No share options have been granted under the Share Option Scheme since its adoption, and there are no outstanding options as of the end of the Relevant Period[141] - The Company did not redeem any of its listed securities during the Relevant Period[143] - All Directors confirmed compliance with the Required Standard of Dealings during the Relevant Period[144] - A Deed of Non-competition has been established to prevent Controlling Shareholders from engaging in competing businesses[145]

Financial Performance - The Group's revenue for the Relevant Period was $5.3 million, a decrease of $0.6 million or 10.4% compared to $5.9 million in the Previous Period[11]. - The Group's profit for the Relevant Period was $33,000, down from a profit of $166,000 in the Previous Period[11]. - The Group's gross profit for the Relevant Period was $1.23 million, down from $1.56 million in the Previous Period[15]. - The Group reported a loss before taxation of $67,000 for the Relevant Period, compared to a profit of $226,000 in the Previous Period[15]. - Revenue from external customers for Q2 2022 was $5,315,000, a decrease of 10.4% compared to $5,934,000 in Q2 2021[71][88]. - Reportable segment profit for Q2 2022 was $1,229,000, down 21.1% from $1,559,000 in Q2 2021[91]. - The Group's consolidated profit before taxation for Q2 2022 was a loss of $67,000, compared to a profit of $226,000 in Q2 2021[95]. - Basic earnings per share for Q2 2022 was less than $0.01, compared to $0.02 in Q2 2021[118]. - The Group did not declare any dividends for Q2 2022, consistent with Q2 2021[119]. - Profit for the Relevant Period was $33,000, a decrease of 80.1% against the Previous Period, primarily due to higher operating costs and changes in other income[196]. Assets and Liabilities - Total assets as of March 31, 2022, were $18.45 million, a decrease from $21.01 million as of September 30, 2021[20]. - Total equity attributable to shareholders was $16.00 million as of March 31, 2022, compared to $15.97 million as of September 30, 2021[20]. - Non-current assets amounted to $14.38 million as of March 31, 2022, slightly down from $14.62 million as of September 30, 2021[20]. - Current liabilities totaled $2.45 million as of March 31, 2022, with borrowings and lease liabilities contributing significantly[20]. - As of March 31, 2022, total equity was SGD 16,004,000, an increase from SGD 15,971,000 as of October 1, 2021[27]. - The company reported a retained earnings of SGD 2,533,000 as of March 31, 2022, up from SGD 2,500,000 on October 1, 2021[27]. - The company's share capital as of March 31, 2022, was $1,338,000, consistent with the previous period[144]. - The share premium remained stable at $6,221,000 as of March 31, 2022, unchanged from September 30, 2021[158]. Cash Flow - For Q2 2022, net cash used in operating activities was SGD (1,180,000), compared to SGD (180,000) in Q2 2021[30]. - The net decrease in cash and cash equivalents for Q2 2022 was SGD (2,759,000), down from SGD (936,000) in Q2 2021[30]. - Cash and cash equivalents at the end of the period for Q2 2022 were SGD 985,000, compared to SGD 3,012,000 in Q2 2021[30]. Expenses - Selling and distribution expenses were $711,000 for the Relevant Period, compared to $709,000 in the Previous Period[15]. - Total unallocated expenses for Q2 2022 were $1,372,000, compared to $1,479,000 in Q2 2021[95]. - The cost of inventories for Q2 2022 was $3,777,000, slightly down from $3,847,000 in Q2 2021[101]. - Short-term employee benefits for key management personnel amounted to $482,000 in Q2 2022, slightly down from $490,000 in Q2 2021, a decrease of 1.63%[193]. - Discretionary bonuses for key management personnel were $71,000 in Q2 2022, down from $77,000 in Q2 2021, representing a decline of 7.79%[193]. - Contributions to defined contribution plans were $37,000 in Q2 2022, up from $33,000 in Q2 2021, indicating an increase of 12.12%[193]. Operational Insights - The company primarily engages in supplying tissue products to corporate customers in Singapore[40]. - The group’s principal activity focuses on tissue and hygiene-related products, with performance measured based on segment revenue and gross profit[41]. - The group has adopted all new and revised IFRSs effective from October 1, 2021, with no significant impact on financial statements[36]. - The Group's non-current assets are entirely located in Singapore, where it operates[95]. - Major customers contributing over 10% of total revenue included Company A with $774,000 and Company B with $621,000 in Q2 2022[98]. Risks and Challenges - Revenue for the Relevant Period was $5.3 million, a decrease of 10.4% compared to the Previous Period due to lower orders from corporate customers influenced by COVID-19[196]. - A significant impact on operating costs was the increase in ocean freight charges, which raised the cost of products and consequently the cost of goods sold[196]. - The company countered risks related to COVID-19 by appointing external logistics service providers and stocking up on tissue products[196]. - There was no impact on the delivery of tissue products to customers during the Relevant Period[196]. - The company faced risks from vendors potentially shutting down due to COVID-19 infections at their factories[196]. - The decrease in revenue was mainly attributed to the reduced quantities of tissue products ordered by corporate customers[196]. - The company does not consider the increase in ocean freight charges to be a risk area, viewing it as a short-term consequence of COVID-19[196].

Revenue Performance - Revenue for Q1 2022 was SGD 2,614,000, a decrease of 12.6% compared to SGD 2,993,000 in Q1 2021[14] - The Group's revenue for Q1 2022 was SGD 2,614,000, a decrease of 12.7% compared to SGD 2,993,000 in Q1 2021[107] - Revenue from tissue products was SGD 2,279,000, down 12.6% from SGD 2,609,000 in the same period last year[107] - Revenue for the Relevant Period was $2.6 million, a decrease of 12.7% compared to $3.0 million in the Previous Period[176] - Revenue for the Relevant Period was $2.6 million, a decrease of $400,000 or 12.7% compared to $3.0 million in the Previous Period, primarily due to reduced orders for sanitary paper products from corporate clients impacted by COVID-19[182] Profitability - Gross profit for Q1 2022 was SGD 657,000, down 20.9% from SGD 831,000 in Q1 2021[14] - Profit before taxation for Q1 2022 was SGD 18,000, significantly lower than SGD 205,000 in Q1 2021, representing a decline of 91.7%[14] - Total comprehensive income for the period in Q1 2022 was SGD 18,000, compared to SGD 175,000 in Q1 2021, a decrease of 89.7%[14] - Basic and diluted earnings per share for Q1 2022 were less than SGD 0.01, compared to SGD 0.02 in Q1 2021[14] - Profit for the Relevant Period was $18,000, a decrease of 89.7% compared to the Previous Period, mainly due to changes in other income[156] - Profit attributable to shareholders was $18,000 in the Relevant Period, down from $175,000 in the Previous Period[187] Cost Management - Cost of sales in Q1 2022 was SGD 1,957,000, down from SGD 2,162,000 in Q1 2021, indicating a reduction of 9.4%[14] - Cost of sales amounted to $2.0 million, representing a decrease of $205,000 or 9.5% compared to $2.2 million in the Previous Period, consistent with the overall decrease in revenue[181] - Selling and distribution expenses for Q1 2022 were SGD 361,000, slightly higher than SGD 350,000 in Q1 2021[14] - Selling and distribution expenses amounted to $361,000, an increase of $11,000 or 3.1% compared to $350,000 in the Previous Period, due to additional headcount in the sales team[187] - Administrative expenses in Q1 2022 were SGD 323,000, compared to SGD 384,000 in Q1 2021, a decrease of 15.9%[14] - Administrative expenses were $323,000, a decrease of $61,000 or 15.9% compared to $384,000 in the Previous Period, resulting from a lower administrative headcount[187] Financial Position - The company has net current assets of $2.7 million as of September 30, 2021, providing sufficient funds for working capital requirements[167] - The company has unutilized banking facilities of $3.9 million on standby[169] Operational Insights - The Group's principal activity remains the supply of tissue products to corporate customers in Singapore, with no significant seasonal impact on revenue[106] - The overall strategy during the pandemic is to avoid self-inflicted interruptions to operations, with all employees vaccinated against COVID-19[168] - The company is optimistic about recovering revenue as tissue products are daily necessities[172] - The company will continue to evaluate development opportunities to strengthen its competitive advantage and market-leading position[172] Accounting and Compliance - The Group has adopted all new and revised IFRSs relevant to its operations, with no significant changes to accounting policies reported[99] - The corporate income tax rate applicable to the Group's Singapore subsidiary is 17% on estimated chargeable income[127] - The Group's amortization of software license remained stable at SGD 2,000 for both Q1 2022 and Q1 2021[110] - The Group's depreciation of property, plant, and equipment for Q1 2022 was SGD 1,815,000, a decrease from SGD 1,933,000 in Q1 2021[110] - The total auditor's remuneration for Q1 2022 was SGD 10,000, slightly up from SGD 9,000 in Q1 2021[110] - Interest expenses on bank loans for Q1 2022 were SGD 1,000, consistent with Q1 2021[14] - Interest expenses on lease liability remained unchanged at SGD 2,000 for both Q1 2022 and Q1 2021[14] Impact of COVID-19 - Sales of tissue products decreased by $330,000, representing a decrease of 12.6% due to the effects of COVID-19[177] - Sales of hygiene-related products decreased by $53,000, representing a decrease of 20.2% also due to the effects of COVID-19[178] - Sales of sanitary paper products decreased by $330,000, a decline of 12.6%, attributed to the effects of COVID-19[183] - Sales of sanitary-related products decreased by $53,000, a decline of 20.2%, also due to COVID-19 impacts[184]

Financial Performance - Revenue decreased due to COVID-19 restrictions, impacting the entire fiscal year 2021 compared to only half of the previous year[19] - Revenue decreased by 11.0% from $13.2 million in FY2020 to $11.8 million in FY2021, primarily due to lower orders from corporate customers affected by COVID-19[21] - Gross profit reduced by 7.3% from $3.1 million in FY2020 to $2.9 million in FY2021, directly linked to the decline in revenue[21] - Profit decreased by 38.0% from $397,000 in FY2020 to $246,000 in FY2021, mainly due to lower gross profit[21] - Sales of tissue products decreased by $1.5 million, representing a decrease of 13.5% due to the effects of COVID-19[43] - Sales of hygiene-related products decreased by $0.1 million, representing a decrease of 10.7%, while sales of other products increased by $0.2 million, representing an increase of 24.0%[43][44] - Cost of sales decreased from $10.1 million to $8.9 million, representing a decrease of 12.2%[47] - Selling and distribution expenses decreased from $1.5 million to $1.4 million, representing a decrease of 4.6%[47] - Administrative expenses decreased from $1.6 million to $1.5 million, representing a decrease of 4.2% due to cost control measures[47] Operational Adjustments - Increased purchase costs were attributed to a surge in worldwide ocean freight charges[19] - The company adjusted selling prices aggressively throughout the year, resulting in a higher gross profit margin compared to the previous year[19] - Ocean freight costs increased by $193,000 in FY2021 despite lower quantities of products purchased, impacting operational costs significantly[33] - Operating cash flow reduced by $385,000 in FY2021 compared to the previous year due to lower revenue, but the company maintained positive cash flow from operations[33] Supply Chain and Delivery - Delivery to customers was not affected as the company adhered strictly to Singapore government's COVID-19 safety directives[20] - The supply chain remained uninterrupted, with close monitoring of the COVID-19 status of vendors[20] Assets and Liabilities - The company has net current assets of $2.7 million as of September 30, 2021, ensuring sufficient funds for working capital requirements[33] - As of September 30, 2021, the Group had total assets of $21.0 million, down from $26.2 million in 2020, with total liabilities of $5.0 million (2020: $10.5 million) and shareholders' equity of $16.0 million (2020: $15.7 million)[49] - The current ratio as of September 30, 2021, was 1.7 times, an increase from 1.6 times in 2020[49] - Cash and cash equivalents as of September 30, 2021, were $3.7 million, slightly down from $3.9 million in 2020[49] - Total interest-bearing bank borrowings as of September 30, 2021, were $0.1 million, compared to $0.2 million in 2020, with an annual interest rate of 3%[49] - The gearing ratio as of September 30, 2021, was 0.01, significantly lower than 0.25 in 2020[49] Future Outlook - With a COVID-19 vaccination rate exceeding 85% in Singapore, the company is optimistic about revenue recovery as commercial activities resume[24] - The company continues to evaluate development opportunities to strengthen its competitive advantage and market position[25] - The company remains committed to achieving sustainable growth and delivering greater returns to shareholders[26] - The company is optimistic about achieving sustainable growth and will continue to evaluate development opportunities to strengthen its competitive advantage[42] Capital Expenditure and Investments - The Group committed to capital expenditure of $0.5 million for the purchase of production machinery as of September 30, 2021, down from $1.4 million in 2020[52] - The company upgraded its conversion line for jumbo roll tissue production, fully utilizing allocated proceeds of $6,200,000, which represents 20.7% of the total investment[65] - A new conversion line for hand towel production was acquired, with an investment of $1,300,000, accounting for 4.3% of the total investment, but no activities were reported due to delays[65] - The extension of the existing factory building and purchase of lifting equipment involved an investment of $19,500,000, fully utilized, representing 65.0% of the total investment[65] - Total capital allocated for various projects amounted to $30,000,000, with 100% utilization reported[65] - The completion of the factory extension was delayed due to COVID-19, impacting the commercial production objectives for both jumbo roll tissues and hand towels[68] - The unutilized net proceeds from the investment have been placed with a licensed bank in Singapore for interest-bearing deposits[66] Corporate Governance - The company has adopted and complied with the CG Code during the Relevant Year to ensure proper regulation of business activities and decision-making processes[97] - The Board consists of seven Directors, including four executive Directors and three independent non-executive Directors[121] - The Board is responsible for overall management, including resource allocation and strategic decisions[128] - The Company maintains high standards of corporate governance, reviewing policies and compliance with legal requirements[118] - The Board has established specific Committees with defined authority and duties[119] - The Company has received annual confirmations of independence from all independent non-executive Directors, meeting GEM Listing Rules requirements[127] - The independent non-executive directors have an initial term of three years, subject to termination under certain circumstances as specified in their appointment letters[142] Board Composition and Diversity - The company recognizes the importance of board diversity, considering factors such as gender, age, and professional experience in board composition[144] - The Nomination Committee is responsible for reviewing board composition and assessing the independence of independent non-executive directors[143] - The board diversity policy aims to create a competitive advantage and improve governance and performance[144] Remuneration and Performance - The Group's remuneration policy is designed to attract and retain high-quality staff, offering competitive packages based on corporate results, individual performance, and market conditions[177] - During the Relevant Year, the remuneration of senior management was structured with a basic salary and performance bonus, with three individuals earning between HK$0 to HK$1,000,000 and one individual earning between HK$1,000,001 to HK$1,500,000[183] - The Group's performance-based remuneration is regularly reviewed to ensure competitiveness and alignment with market standards[177] - The Remuneration Committee assessed the performance and remuneration packages of executive Directors and senior management during the Relevant Year[180]

SUNLIGHT (1977) HOLDINGS LIMITED 日光(1977)控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開疊群島註冊成立的有限公司) Stock Code 股份代號 : 8451 2021 ThirdQuarterly Report Third Quarterly Report SUNLIGHT M-FOLD PAPER TOWEL SUNLIGHT -FOLD PAPER TOWEL SUNLIGHT M-FOLD PAPER TOWEL 0000 I Glov Vin) CHARACTERISTICS OF GEM GEM之特色 GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exc ...

Financial Performance - The Group's revenue for the Relevant Period was $5.9 million, representing a decrease of $2.7 million or 31.4% compared to $8.7 million in the Previous Period[7]. - The Group's profit for the Relevant Period was $166,000, down from a profit of $363,000 in the Previous Period[7]. - Gross profit for 2021Q2 was $1.559 million, compared to $1.992 million in 2020Q2[11]. - Revenue from external customers for Q2 2021 was $5,934,000, a decrease of 31.5% compared to $8,650,000 in Q2 2020[67][81]. - Reportable segment profit for Q2 2021 was $1,559,000, down 21.7% from $1,992,000 in Q2 2020[91][87]. - Consolidated profit before taxation for Q2 2021 was $226,000, a decline of 50.1% from $453,000 in Q2 2020[91]. - The profit and total comprehensive income for the period was $363,000[20]. - The Group's basic and diluted earnings per share for 2021Q2 were 0.02 cents, down from 0.05 cents in 2020Q2[11]. - Basic earnings per share for Q2 2021 was 0.02 cents, down from 0.05 cents in Q2 2020[123]. - The Group did not declare any dividends for Q2 2021, consistent with Q2 2020[126]. Assets and Liabilities - Total assets as of March 31, 2021, amounted to $26.378 million, slightly up from $26.232 million as of September 30, 2020[16]. - Total liabilities as of March 31, 2021, were $10.524 million, compared to $10.544 million as of September 30, 2020[16]. - As of March 31, 2021, total equity amounted to $15,854,000, an increase from $15,688,000 on October 1, 2020[23]. - Current assets included inventories of $6.982 million and cash and cash equivalents of $14.413 million as of March 31, 2021[16]. - As of March 31, 2021, trade receivables decreased to $1,688,000 from $3,051,000 as of September 30, 2020, representing a reduction of approximately 44.6%[138]. - Trade payables decreased to $787,000 as of March 31, 2021, down from $1,647,000 as of September 30, 2020, indicating a decline of approximately 52.2%[192]. - Borrowings as of March 31, 2021, include a Singapore government loan of $7,000,000, unchanged from September 30, 2020, which is interest-free and unsecured[185]. Cash Flow - Net cash used in operating activities for Q2 2021 was $(180,000), an improvement from $(771,000) in Q2 2020[26]. - Net cash used in investing activities for Q2 2021 was $(685,000), compared to $(1,970,000) in Q2 2020, indicating reduced investment outflows[26]. - Cash and cash equivalents at the end of Q2 2021 were $3,012,000, down from $4,224,000 at the end of Q2 2020[26]. - The company reported a net decrease in cash and cash equivalents of $(936,000) for Q2 2021, compared to $(2,804,000) in Q2 2020[26]. Expenses - Selling and distribution expenses for the Relevant Period were $709,000, a decrease from $863,000 in the Previous Period[11]. - The Group incurred progressive costs of $293,000 for factory extension in Q2 2021, significantly lower than $1.6 million in Q2 2020[127]. - Total unallocated expenses for Q2 2021 were $1,479,000, reduced from $1,708,000 in Q2 2020[91]. - Interest expenses for Q2 2021 were $8,000, slightly up from $5,000 in Q2 2020[91]. - The company invested $293,000 in expanding its existing factory and incurred costs of $475,000 for truck purchases in the second quarter of 2021, compared to $1,600,000 in the second quarter of 2020[130]. Company Overview - The company primarily supplies tissue products to corporate customers in Singapore, focusing on tissue and hygiene-related products[36]. - The immediate and ultimate holding company is YJH Group, incorporated in the British Virgin Islands[28]. - The company has not early adopted any new IFRSs that are not yet effective, anticipating no material impact on financial statements[32]. - The unaudited condensed consolidated financial statements are prepared in accordance with International Accounting Standard 34, with all financial information presented in SGD[31]. - The Group's non-current assets are entirely located in Singapore, with operations also based there[92]. Future Outlook - The company is optimistic about recovery as Singapore entered phase three of reopening on December 28, 2020[200]. - The company will continue to evaluate development opportunities to strengthen its competitive advantage and market-leading position[200]. - The company aims to achieve sustainable growth and is committed to delivering greater returns to shareholders[200]. - The company is monitoring new tissue product developments and sourcing competitively priced tissue products[200]. - The company has built strong ties with customers and suppliers over the past 43 years, ensuring product delivery satisfaction[200]. Management and Compensation - Key management personnel compensation for Q2 2021 was $410,000, a slight decrease from $422,000 in Q2 2020[196]. Retained Earnings and Impairment - Retained earnings increased to $2,420,000 as of March 31, 2021, up from $2,254,000 as of September 30, 2020, reflecting a growth of approximately 7.4%[180]. - The allowance for impairment on trade receivables was recorded at $1,000 as of March 31, 2021, indicating a minimal impact on the overall receivables[138]. - The company expects trade receivables to be recovered within one year, reflecting a stable cash flow outlook[134]. - The revaluation reserve remains at $5,295,000 as of March 31, 2021, unchanged from September 30, 2020, indicating stability in asset valuation[177].