Financial Performance - Revenue for the first quarter ended September 30, 2022, was SGD 8,126,843, representing a 70.5% increase from SGD 4,779,288 in the same period of 2021[7]. - Gross profit for the same period was SGD 2,009,450, up from SGD 1,351,871, indicating a gross margin improvement[7]. - The company reported a net loss of SGD 1,099,058 for the first quarter, compared to a loss of SGD 576,677 in the prior year, reflecting a 90.5% increase in losses[7]. - The total comprehensive loss for the period was SGD 1,401,943, compared to SGD 550,513 in the same quarter of the previous year, indicating a 154.5% increase in comprehensive losses[10]. - Basic and diluted loss per share was SGD 0.13, compared to SGD 0.06 in the prior year, reflecting a worsening in per-share performance[16]. - The company reported a total loss of SGD 1,099,058 for the three months ended September 30, 2022, compared to a loss of SGD 576,677 in the same period of 2021, reflecting increased operational costs[39]. - The company recorded a net loss attributable to owners of approximately SGD 1.2 million for the period, compared to a net loss of approximately SGD 0.5 million for the three months ended September 30, 2021, primarily due to increased administrative and wage expenses from business expansion in China[111]. Revenue Breakdown - Revenue from network, audio, and communication system services was SGD 2,581,290, while e-commerce operations generated SGD 5,545,553, indicating strong performance in both segments[39]. - Total revenue for the company was SGD 8,126,843, compared to SGD 4,779,288 in the same period last year, reflecting a year-over-year increase of approximately 70.5%[49]. - Revenue from external customers in China reached SGD 6,653,008, significantly up from SGD 2,932,820 in the previous year, indicating strong growth in this market[49]. Expenses and Costs - Administrative expenses rose to SGD 1,529,997, up from SGD 700,933, marking a 118.5% increase year-over-year[7]. - The total sales/service cost for the quarter was SGD 6,117,393, which is a 78.5% increase from SGD 3,427,417 in the same period last year[7]. - The company’s employee costs totaled SGD 2,065,602, up from SGD 1,378,740 in the previous year, highlighting increased investment in human resources[58]. - The cost of sales for materials was SGD 5,184,653, compared to SGD 2,937,362 in the previous year, indicating a significant rise in production costs[60]. - Financial costs rose by approximately SGD 60,700 or 1.9 times to about SGD 93,300, mainly due to increased borrowings to fund the expansion of the CP and NSC divisions in China[107]. Other Income and Financial Metrics - Other income increased to SGD 121,226 from SGD 37,608, showing a growth of 222.5%[7]. - The company experienced a foreign exchange loss of SGD 302,885, contrasting with a gain of SGD 26,164 in the previous year, indicating a significant negative impact from currency fluctuations[10]. - The company experienced a foreign exchange gain of SGD 97,952, contrasting with a loss of SGD 104,485 in the previous year, showcasing improved currency management[52]. - The company’s total other income and expenses amounted to SGD 121,226, with financial costs of SGD 512,594 and tax expenses of SGD 21,142 for the reporting period[39]. Strategic Focus and Operations - The company operates primarily in Singapore and China, focusing on sales and integrated services for network, audio, and communication systems, as well as e-commerce operations[34]. - The company’s operational segments are strategically managed, with distinct risks and returns associated with each segment, including network services and e-commerce[37]. - The company plans to strengthen its team by recruiting skilled IT engineers and enhancing training investments to improve technical service capabilities[90]. - The company aims to expand its service system by broadening its product and service range based on key clients, including system integration and mainstream domestic security products[90]. - The company is focused on deepening its presence in the financial and railway sectors while actively seeking new clients in these industries[90]. - The company is exploring opportunities in e-commerce channels, particularly through partnerships with platforms like JD.com and Tmall, and is investing in private traffic operations to create new business growth points[83]. Capital and Funding - As of September 30, 2022, the company utilized 63.0% of the net proceeds from its IPO, amounting to HKD 27.7 million out of the planned HKD 44.0 million[117]. - The company has fully utilized the budget for expanding and training sales and marketing, technical, and support personnel, with an expenditure of HKD 11.6 million[117]. - The company plans to establish a new sales office in Singapore, with a budget of HKD 10.0 million, and has not yet utilized any of these funds[117]. - The company has incurred HKD 2.5 million in expenses related to repaying part of its bank loans, with 60.0% of the budget utilized[117]. - The company raised approximately HKD 44.0 million from its listing on the GEM of the Hong Kong Stock Exchange after deducting related expenses[171]. Corporate Governance and Compliance - The company did not declare or pay any dividends during the reporting period, consistent with the previous year[72]. - The company did not recommend the payment of dividends during the period, consistent with the previous quarter[112]. - On October 28, 2022, the company adopted a revised and restated memorandum and articles of association to comply with the latest legal and regulatory requirements[175]. - The board confirmed that there have been no significant changes to the nature of the company's business during the relevant period, and the company continues to receive invitations to bid and projects from clients[171]. - The company has maintained sufficient public float as required by the GEM listing rules during the relevant period[198]. - The company has adopted the trading standards as the code of conduct for directors regarding securities transactions[196]. - There have been no significant changes in the information of directors that need to be disclosed according to GEM listing rules[197].

Financial Performance - For the fiscal year ending June 30, 2022, ISP Global Limited achieved sales revenue of SGD 20.2 million, representing a significant increase compared to the previous fiscal year[26]. - The company's revenue for the fiscal year was approximately SGD 20.2 million, an increase of about SGD 10.1 million compared to SGD 10.1 million for the previous fiscal year, reflecting a growth driven by business diversification[82]. - Revenue from the Network, Sound, and Communication Systems segment was approximately SGD 17.9 million, accounting for about 88.9% of total revenue, a significant increase from SGD 7.0 million (68.7% of total revenue) in the previous year[84]. - E-commerce operations generated revenue of SGD 2.2 million, a decline of 29.7% from SGD 3.2 million in the previous year, primarily due to decreased consumer spending in mainland China caused by COVID-19[87][88]. - The company recorded a total comprehensive loss attributable to owners of approximately 4.7 million Singapore dollars for the year, compared to a loss of about 0.4 million Singapore dollars in the previous year, mainly due to high initial and ongoing operational costs in new markets[101]. E-commerce Operations - The company expanded its e-commerce operations in China, establishing partnerships with 14 brands and opening 27 stores on major platforms such as Tmall, JD.com, and Pinduoduo[31]. - The e-commerce sector is projected to exceed RMB 2 trillion by 2025, indicating substantial growth potential for ISP Global Limited's operations in this area[31]. - ISP Global Limited plans to focus on brand expansion, e-commerce platform development, and team building as key strategies for its e-commerce division[31]. - The brand e-commerce operation service market is crucial for enhancing brand influence and optimizing marketing strategies through precise consumer analysis[56]. - E-commerce operation service providers act as a bridge between brands, e-commerce platforms, and consumers, creating a dynamic ecosystem that adds value to all parties involved[56]. Market Trends and Growth Potential - The Chinese government is expected to invest between 15-20 trillion yuan in digital economy-related initiatives over the next five years, providing a favorable environment for the company's network and communication system services[34]. - The live e-commerce market in China reached RMB 1.2 trillion in 2020, with a staggering year-on-year growth rate of 197.0%, and is expected to exceed RMB 4.9 trillion by 2023[71]. - The Chinese brand e-commerce service market size exceeded RMB 200 billion in 2019, with a year-on-year growth rate of 37.1%, reaching RMB 300 billion in 2021 and projected to reach RMB 366.32 billion in 2022[60]. Operational Strategies - The company aims to maintain direct relationships with healthcare and education sectors in Singapore, leveraging its expertise in public sector project bidding[32]. - The company aims to expand its influence in the railway and banking sectors by enhancing service capabilities and negotiating better prices with upstream network equipment suppliers, targeting significant growth in the coming years[34]. - The company plans to focus on strengthening partnerships with JD.com while also collaborating with Tmall, Taobao, and Pinduoduo, and has introduced strategic partners with rich private traffic[73]. - The company aims to optimize its operational structure to enhance team efficiency and capabilities through personnel recruitment and internal training[73]. Environmental and Social Responsibility - The company aims to reduce greenhouse gas emissions intensity by 5% per million SGD in sales revenue over the next three years compared to the current year's levels[158]. - The company has set a target to reduce electricity and paper consumption per employee by 25% by 2025[168]. - The company encourages employees to use communication tools to reduce indirect greenhouse gas emissions from business travel, which amounted to 6.48 tons of CO2 in 2021/22[161]. - The company has complied with all relevant environmental laws and regulations in Singapore and China during the fiscal year[168]. Workforce and Talent Development - The company employed a total of 151 employees as of June 30, 2022, which includes 148 full-time employees (up from 102 in 2021) and 3 part-time employees (up from 2 in 2021)[198]. - The company emphasizes equal opportunities in recruitment, selection, compensation, training, evaluation, and career development, free from discrimination based on gender, age, race, nationality, marital status, and religion[196]. - The company conducts annual performance evaluations to assess employee performance and provide recognition and rewards based on individual contributions[196]. - The company is focused on talent development as part of employee career progression[197].

Financial Performance - For the three months ended March 31, 2022, the company reported revenue of SGD 4,789,080, an increase of 32.4% compared to SGD 3,614,768 for the same period in 2021[6]. - The gross profit for the nine months ended March 31, 2022, was SGD 4,691,191, representing an increase of 77.3% from SGD 2,646,942 in the same period of 2021[6]. - The company incurred a loss before tax of SGD 1,642,225 for the nine months ended March 31, 2022, compared to a profit of SGD 99,032 in the same period of 2021[6]. - Total comprehensive loss for the three months ended March 31, 2022, was SGD 866,689, compared to a profit of SGD 33,008 in the same period of 2021[8]. - The company reported a basic and diluted loss per share of SGD 0.10 for the three months ended March 31, 2022, compared to a loss of SGD 0.04 in the same period of 2021[20]. - The company reported a net loss of SGD 31,030 for the nine months ended March 31, 2022, compared to a profit of SGD 126,934 in the same period of 2021[71]. - The company recorded a net loss attributable to shareholders of approximately SGD 1.7 million, compared to a net loss of about SGD 0.3 million in the same period of 2021[135]. Revenue Breakdown - ISP Global Limited's revenue for the three months ended March 31, 2022, was SGD 3,065,000, representing a significant increase compared to the previous period[52]. - The company reported a total revenue of SGD 4,760,437 for the nine months ended March 31, 2022, indicating a growth trend in its operations[52]. - Revenue from the audio and communication systems sales and related services was SGD 2,662,962 for the three months ended March 31, 2022, compared to SGD 1,995,425 in the same period of 2021, reflecting a growth of 33.5%[58]. - Revenue from network and communication integrated services was SGD 2,097,475 for the three months ended March 31, 2022, compared to no revenue in the same period of 2021[58]. - Revenue from external customers in Singapore was SGD 2,722,887 for the three months ended March 31, 2022, compared to SGD 2,214,311 in the same period of 2021, representing an increase of 23%[65]. - Revenue from external customers in China was SGD 2,066,194 for the three months ended March 31, 2022, compared to SGD 1,400,457 in the same period of 2021, reflecting a growth of 47.5%[65]. Expenses and Costs - The administrative expenses for the nine months ended March 31, 2022, were SGD 2,335,824, an increase of 80.5% from SGD 1,294,705 in the same period of 2021[6]. - Total employee costs for the nine months ended March 31, 2022, amounted to SGD 4,987,081, an increase from SGD 2,266,816 in the same period of 2021[80]. - Salary expenses increased by approximately SGD 2.5 million or 1.95 times to about SGD 3.8 million, with the number of administrative and operational staff in China rising from 15 to 80[128]. - The company incurred interest expenses of SGD 15,013 for bank loans in the nine months ended March 31, 2022, down from SGD 17,692 in the same period of 2021[74]. - Administrative and wage expenses in the network and communication systems division in China increased by approximately SGD 3.4 million or 292% to about SGD 4.6 million during the period[105]. Strategic Focus and Operations - The company is focused on expanding its e-commerce services in China, targeting both individual and corporate customers through various platforms[41]. - The company plans to expand its e-commerce business in China, focusing on health, value, quality, and sustainability as core principles for partner expansion[111]. - The company aims to enhance user engagement and repurchase rates through a "WeChat ecosystem + e-commerce SaaS tools" model[114]. - The company is strengthening its network system integration and core IT service offerings in China, targeting major state-owned enterprises as key clients[115]. - The company plans to expand its regional sales teams in East China, South China, and Southwest China to better serve new regional customers[121]. - Future focus will be on deepening integration in key industries such as railways and aviation, enhancing the core IT service system[121]. Other Financial Information - The company did not recommend or pay any dividends for the nine months ended March 31, 2022, consistent with the previous year[101]. - The company has not adopted any new or revised International Financial Reporting Standards that would have a significant impact on its financial statements during the initial adoption period[37]. - The company has a registered office in the Cayman Islands and operates primarily in Singapore and Hong Kong, indicating its international presence[1]. - The financial statements are presented in Singapore dollars, which is the company's functional currency, ensuring consistency in reporting[34]. - The company has been listed on the Hong Kong Stock Exchange since January 16, 2018, enhancing its visibility and access to capital markets[1]. Project and Asset Management - The company is currently reviewing and monitoring its project portfolio, with the purchase of a truck for delivery postponed due to varying project requirements[186][188]. - The acquisition of a new property in Singapore is delayed due to rising property prices, requiring more time to find a suitable location within the financial budget[195][196].

Financial Performance - For the six months ended December 31, 2021, ISP Global Limited reported total revenue of SGD 12,010,945, a significant increase of 162% compared to SGD 4,581,675 for the same period in 2020[5] - The gross profit for the six months ended December 31, 2021, was SGD 3,236,174, representing a 128% increase from SGD 1,418,331 in the previous year[5] - The company incurred a loss before tax of SGD 846,704 for the six months ended December 31, 2021, compared to a loss of SGD 32,972 for the same period in 2020[5] - The total comprehensive loss for the six months ended December 31, 2021, was SGD 838,761, compared to a profit of SGD 17,762 in the same period of 2020[8] - The company reported a basic and diluted loss per share of SGD (0.09) for the six months ended December 31, 2021, compared to SGD (0.01) for the same period in 2020[21] - The company recognized other income of SGD 63,911 for the six months ended December 31, 2021, a decrease from SGD 248,436 in the same period of 2020[5] - The company reported a pre-tax loss from operating activities of SGD (846,704) for the six months ended December 31, 2021, compared to a loss of SGD (35,383) in the previous period[126] - The company reported a net cash outflow from operating activities of SGD (3,658,682) for the six months ended December 31, 2021[126] Assets and Liabilities - As of December 31, 2021, total assets amounted to SGD 31,695,152, an increase from SGD 26,295,493 as of June 30, 2021[24] - As of December 31, 2021, total liabilities and equity amounted to SGD 31,695,152, an increase from SGD 26,295,493 as of June 30, 2021, representing a growth of approximately 20.5%[27] - Current liabilities decreased to SGD 6,346,576 from SGD 8,995,318, a reduction of about 29.3%[27] - Non-current liabilities totaled SGD 2,315,773, down from SGD 2,733,455, indicating a decrease of approximately 15.3%[27] - Total equity increased significantly to SGD 23,032,803 from SGD 14,566,720, reflecting a growth of around 58.3%[27] - Total liabilities decreased to SGD 8,662,349 as of December 31, 2021, from SGD 11,728,773 as of June 30, 2021, indicating a reduction of about 26.5%[166] Cash Flow and Investments - The company’s cash and cash equivalents stood at SGD 11,931,540 as of December 31, 2021, compared to SGD 11,176,664 on June 30, 2021[24] - The net cash used in investing activities was SGD 12,612 for the six months ended December 31, 2021, compared to SGD 236,912 in the same period of 2020, indicating a significant reduction in investment outflows[129] - The net cash generated from financing activities was SGD 4,581,410 for the six months ended December 31, 2021, compared to a cash outflow of SGD 94,080 in the same period of 2020, reflecting a strong financing position[129] - The total cash and cash equivalents increased by SGD 910,116, reaching SGD 11,931,540 at the end of the reporting period, compared to SGD 9,843,971 at the end of 2020[129] Operational Costs - The administrative expenses for the six months ended December 31, 2021, were SGD 3,824,858, up from SGD 1,450,612 in the previous year, indicating increased operational costs[5] - The total employee costs for the six months ended December 31, 2021, reached SGD 2,993,907, compared to SGD 1,389,589 in the same period of 2020, reflecting a growth of 115.5%[188] - For the three months ended December 31, 2021, the total employee costs (including directors' remuneration) amounted to SGD 1,615,167, a significant increase from SGD 766,400 in the same period of 2020, representing a growth of 110.5%[188] - The cost of materials recognized as cost of sales/services was SGD 4,835,985 for the three months ended December 31, 2021, compared to SGD 2,150,627 in the same period of 2020, reflecting an increase of 124.8%[188] - The total cost of sales/services for the six months ended December 31, 2021, was SGD 7,773,347, compared to SGD 2,279,495 in the same period of 2020, indicating a substantial increase of 240.5%[188] Market and Business Segments - The company operates two main business segments: Network and Communication Systems Sales and Services, and Consumer Goods Sales, focusing on different market risks and returns[145] - The company aims to expand its market presence and enhance product offerings, focusing on new technologies and services in the network and communication sectors[153] - The sales from the network and communication systems amounted to SGD 4,255,678 for the three months ended December 31, 2021, compared to zero in the same period of 2020, showing a strong market entry[153] - The company reported a significant contribution from major customers, with Customer I contributing SGD 2,532,353 and Customer II contributing SGD 1,560,672 for the six months ended December 31, 2021[158] Taxation - The income tax expense for Singapore corporate tax was SGD 106,253 for the three months ended December 31, 2021, compared to SGD 21,714 in the same period of 2020, which is an increase of 388.5%[194] - The current tax expense for China corporate tax was SGD 974 for the six months ended December 31, 2021, compared to SGD 5,836 in the same period of 2020, indicating a decrease of 83.3%[194] - The deferred tax for the six months ended December 31, 2021, was a recovery of SGD 785, compared to a recovery of SGD 27,829 in the same period of 2020[194] Currency and Financial Reporting - The impact of foreign currency exchange on cash balances was a decrease of SGD 155,240, reflecting currency volatility[129] - The company reported no significant changes in the application of International Financial Reporting Standards that would materially impact the financial statements upon adoption[139] - The company has not applied any new or revised International Financial Reporting Standards that are not yet effective, indicating a stable accounting framework[139] - The company’s operational headquarters is located in Hong Kong, with significant business activities in Singapore and China, indicating a strategic geographical presence[132]

[Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) This statement presents the group's financial performance, showing a significant increase in revenue but also a substantial rise in losses for the three months ended September 30, 2021 Summary of Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the three months ended September 30) | Indicator | 2021 (SGD) | 2020 (SGD) | Change (SGD) | Change Rate | | :------------- | :---------------- | :---------------- | :-------------- | :----- | | Revenue | 4,779,288 | 1,049,173 | 3,730,115 | 355.5% | | Cost of Sales/Services | (3,427,417) | (548,805) | (2,878,612) | 524.5% | | Gross Profit | 1,351,871 | 500,368 | 851,503 | 170.2% | | Other Income | 37,608 | 118,856 | (81,248) | -68.4% | | Administrative Expenses | (1,704,645) | (593,718) | (1,110,927) | 187.1% | | Other Gains and Losses | (184,947) | (172,298) | (12,649) | 7.3% | | Finance Costs | (32,633) | (6,662) | (25,971) | 389.8% | | Loss Before Tax | (532,746) | (153,454) | (379,292) | 247.2% | | Income Tax (Expense) Recovery | (43,931) | 57,901 | (101,832) | -175.9% | | Loss for the Period | (576,677) | (95,553) | (481,124) | 503.5% | | Basic and Diluted Loss Per Share (SGD cents) | (0.06) | (0.01) | (0.05) | 500.0% | [Unaudited Condensed Consolidated Statement of Changes in Equity](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) This statement details changes in the group's equity components, including share capital, reserves, and accumulated profits, for the three months ended September 30, 2021 Summary of Condensed Consolidated Statement of Changes in Equity (For the three months ended September 30, 2021) | Item | Share Capital (SGD) | Share Premium (SGD) | Merger Reserve (SGD) | Exchange Reserve (SGD) | Accumulated Profits (SGD) | Total Attributable to Owners of the Company (SGD) | Non-controlling Interests (SGD) | Total (SGD) | | :--------------- | :-------------- | :------------------ | :------------------ | :------------------ | :------------------ | :------------------------------ | :-------------------- | :-------------- | | Balance as at July 1, 2021 | 1,372,630 | 8,593,078 | 524,983 | (2,215) | 3,969,296 | 14,457,772 | 108,948 | 14,566,720 | | Loss for the Period | - | - | - | - | (494,333) | (494,333) | (82,344) | (576,677) | | Other Comprehensive Income for the Period | - | - | - | 25,572 | - | 25,572 | 592 | 26,164 | | Issue of New Shares | 140,752 | 9,079,208 | - | - | - | 9,219,960 | - | 9,219,960 | | Non-controlling Interests | - | - | - | - | - | - | 84,144 | 84,144 | | Balance as at September 30, 2021 | 1,513,382 | 17,672,286 | 524,983 | 23,357 | 3,474,963 | 23,208,971 | 111,340 | 23,320,311 | [Notes to the Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the unaudited condensed consolidated financial statements [1. General Information](index=9&type=section&id=1.%20General%20Information) ISP Global Limited, listed on GEM, operates in Singapore (audio/communication systems, alarm services) and China (e-commerce for consumer goods), with financial statements presented in SGD - ISP Global Limited was incorporated in the Cayman Islands on July 21, 2017, and listed on GEM of the Hong Kong Stock Exchange on January 16, 2018[83](index=83&type=chunk) - The Company is an investment holding company, with operating subsidiaries primarily engaged in sales and related services of audio and communication systems, integrated audio and communication system services, alarm system services in Singapore, and e-commerce services and operations for selling consumer goods to external customers in China[83](index=83&type=chunk) - The unaudited condensed consolidated financial statements are presented in Singapore Dollars (the Company's functional currency) and were approved by the Board of Directors on October 25, 2021[85](index=85&type=chunk) [2. Basis of Preparation and Application of International Financial Reporting Standards ("IFRS")](index=10&type=section&id=2.%20Basis%20of%20Preparation%20and%20Application%20of%20International%20Financial%20Reporting%20Standards%20%28%22IFRS%22%29) The group consistently applied IFRS effective for the fiscal year beginning July 1, 2021, with no significant impact expected from new standards yet to be adopted - The Group has consistently applied IFRS effective for the financial year commencing July 1, 2021, throughout the reporting period[86](index=86&type=chunk) - Management expects that the future adoption of new and revised IFRS, which have been issued but are not yet effective, will not have a significant impact on the Group's financial statements in the period of initial application[110](index=110&type=chunk) [3. Revenue and Segment Information](index=12&type=section&id=3.%20Revenue%20and%20Segment%20Information) The group's revenue primarily stems from audio and communication systems and consumer goods sales, with total revenue reaching **SGD 4.78 million**, driven by significant growth in China's consumer goods segment - The Group's revenue is derived from sales and related services of audio and communication systems, integrated audio and communication system services, alarm system services, and e-commerce services and operations for selling consumer goods[112](index=112&type=chunk) - The Group has two operating segments: sales and services of audio and communication systems, and sales of consumer goods[114](index=114&type=chunk) Segment Revenue and Results (For the three months ended September 30, 2021) | Segment | Revenue (SGD) | Results (SGD) | | :----------------- | :-------------- | :-------------- | | Audio and Communication System Sales and Services | 1,846,468 | 352,466 | | Consumer Product Sales | 2,932,820 | (114,399) | | **Total** | **4,779,288** | **238,067** | Revenue by Geographical Location (For the three months ended September 30) | Region | 2021 Revenue (SGD) | 2020 Revenue (SGD) | | :----- | :-------------------- | :-------------------- | | Singapore | 1,845,474 | 1,049,173 | | China | 2,932,820 | – | | Other | 994 | – | | **Total** | **4,779,288** | **1,049,173** | [4. Other Income and Losses](index=18&type=section&id=4.%20Other%20Income%20and%20Losses) The group recorded a net other loss of **SGD 0.18 million** for the three months ended September 30, 2021, primarily due to net exchange losses and impairment losses on trade receivables Details of Other Income and Losses (For the three months ended September 30) | Item | 2021 (SGD) | 2020 (SGD) | | :------------------------- | :---------------- | :---------------- | | Net Exchange Losses | (104,485) | (99,897) | | Impairment Loss on Trade Receivables | (78,823) | (72,401) | | Impairment Loss on Write-off of Property, Plant and Equipment | (1,639) | – | | **Total** | **(184,947)** | **(172,298)** | [5. Finance Costs](index=18&type=section&id=5.%20Finance%20Costs) Finance costs significantly increased to **SGD 32,633** for the three months ended September 30, 2021, primarily driven by higher interest on lease liabilities Details of Finance Costs (For the three months ended September 30) | Item | 2021 (SGD) | 2020 (SGD) | | :----------- | :---------------- | :---------------- | | Bank Loan Interest | 5,175 | 6,662 | | Lease Liabilities Interest | 27,458 | – | | **Total** | **32,633** | **6,662** | [6. Loss Before Tax](index=19&type=section&id=6.%20Loss%20Before%20Tax) Loss before tax expanded to **SGD 0.53 million** for the three months ended September 30, 2021, mainly due to increased staff costs, material costs, and depreciation expenses Components of Loss Before Tax (For the three months ended September 30) | Item | 2021 (SGD) | 2020 (SGD) | | :------------------------- | :---------------- | :---------------- | | Total Staff Costs (including Directors' Emoluments) | 1,378,740 | 623,189 | | Material Costs | 2,937,362 | 128,868 | | Subcontractor Costs | 115,027 | 44,360 | | Depreciation of Property, Plant and Equipment | 211,643 | 132,669 | - Staff costs included in cost of sales/services amounted to **SGD 375,028** (2020: SGD 276,503)[145](index=145&type=chunk) [7. Income Tax Expense (Recovery)](index=20&type=section&id=7.%20Income%20Tax%20Expense%20%28Recovery%29) The group recorded an income tax expense of **SGD 43,931** for the three months ended September 30, 2021, a shift from a recovery in the prior year, primarily due to increased Singapore corporate income tax and new China corporate income tax Details of Income Tax Expense (Recovery) (For the three months ended September 30) | Item | 2021 (SGD) | 2020 (SGD) | | :------------------- | :---------------- | :---------------- | | Singapore Corporate Income Tax Expense (Recovery) | 42,583 | (43,880) | | China Corporate Income Tax | 966 | – | | Deferred Tax Provision (Utilisation) | 382 | (14,021) | | **Total** | **43,931** | **(57,901)** | - Singapore corporate income tax is provided at **17%**[146](index=146&type=chunk) [8. Loss Per Share](index=21&type=section&id=8.%20Loss%20Per%20Share) Basic and diluted loss per share attributable to owners expanded to **SGD 0.06 cents** for the three months ended September 30, 2021, with no dilutive securities Loss Per Share (For the three months ended September 30) | Indicator | 2021 (SGD) | 2020 (SGD) | | :------------------- | :---------------- | :---------------- | | Loss Attributable to Owners of the Company | (574,577) | (95,553) | | Weighted Average Number of Ordinary Shares | 863,478,261 | 800,000,000 | | Basic and Diluted Loss Per Share (SGD cents) | (0.06) | (0.01) | - Basic earnings per share is calculated based on the loss for the period attributable to owners of the Company and the weighted average number of ordinary shares outstanding[154](index=154&type=chunk) - Diluted earnings per share is equal to basic earnings per share as the Group had no dilutive potential ordinary shares during the period and for the three months ended September 30, 2020[154](index=154&type=chunk) [9. Dividends](index=21&type=section&id=9.%20Dividends) No dividends were proposed or paid by the company or its subsidiaries for the three months ended September 30, 2021 - No dividends were proposed or paid by the Company or any of its subsidiaries during the period (for the three months ended September 30, 2020: zero Singapore Dollars)[155](index=155&type=chunk) [Management Discussion and Analysis](index=22&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the group's business development, financial performance, and future outlook, highlighting key operational and financial changes [Business Development and Prospects](index=22&type=section&id=Business%20Development%20and%20Prospects) The group's net loss expanded due to increased administrative and capital costs in the China e-commerce segment, with future plans to consolidate Singapore operations and pursue high growth in China's e-commerce and network system integration - The Group is primarily engaged in the sales, installation, and maintenance of audio and communication system solutions and alarm systems in Singapore, and e-commerce services and operations for selling consumer goods in China[158](index=158&type=chunk) - During the period, the Group recorded a net loss of approximately **SGD 576,700**, compared to a net loss of approximately **SGD 95,600** in the corresponding period of 2020, mainly due to increased staff administrative costs and capital-related expenses for business opportunities in the China e-commerce segment[158](index=158&type=chunk) [Outlook](index=22&type=section&id=Outlook) The group plans to strengthen its Singapore business in public healthcare and housing, while pursuing high growth in China's e-commerce and network system integration sectors - Singapore operations will focus on public tenders and maintaining new contracts, targeting the public healthcare and housing sectors, with sales and installation deliveries for existing contract projects expected to gradually resume as COVID-19 is treated as an endemic disease[159](index=159&type=chunk)[161](index=161&type=chunk) - China's e-commerce business will seek high growth, expanding partnerships with Nordic and Western European brands based on principles of 'health, value, quality, and sustainability,' opening stores on mainstream e-commerce platforms like JD, Tmall, Pinduoduo, and Douyin, and focusing on building private domain e-commerce operations[162](index=162&type=chunk)[165](index=165&type=chunk) - China's network system integration and core IT service system will provide solutions to government departments, financial institutions, and state-owned enterprises like railway and aviation, with plans to strengthen team building, expand service systems, develop industry clients, and enhance cooperation with industry resources, ultimately forming a comprehensive system integration service provider centered on IT services[169](index=169&type=chunk)[172](index=172&type=chunk) [Financial Review](index=27&type=section&id=Financial%20Review) This section reviews key financial indicators, including significant revenue growth driven by China's e-commerce and Singapore's construction, alongside increased costs and expanded losses [Revenue](index=27&type=section&id=Revenue) Revenue increased **3.6 times** to approximately **SGD 4.8 million**, driven by new e-commerce services in China and increased audio and communication system projects in Singapore - Revenue increased **3.6 times** from approximately **SGD 1.0 million** to approximately **SGD 4.8 million**[176](index=176&type=chunk) - The primary growth drivers were new revenue streams from China's e-commerce services and an increase in audio and communication system sales and related service projects due to the resumption of construction works in Singapore[176](index=176&type=chunk) [Cost of Sales/Services](index=27&type=section&id=Cost%20of%20Sales%2FServices) Cost of sales/services increased **5.2 times** to approximately **SGD 3.4 million**, primarily due to higher material deliveries for consumer product sales in China - Cost of sales/services increased **5.2 times** from approximately **SGD 0.5 million** to approximately **SGD 3.4 million**[177](index=177&type=chunk) - The increase in costs was mainly attributable to higher material deliveries for the consumer product sales segment to customers in China[177](index=177&type=chunk) [Gross Profit and Gross Margin](index=27&type=section&id=Gross%20Profit%20and%20Gross%20Margin) Gross profit increased to approximately **SGD 1.4 million**, but gross margin decreased from **47.7% to 28.3%**, primarily due to lower profitability in the consumer product sales segment - Gross profit increased from approximately **SGD 0.5 million** to approximately **SGD 1.4 million**[178](index=178&type=chunk) - Gross margin decreased from **47.7%** to **28.3%**[178](index=178&type=chunk) - The decrease in gross margin was mainly due to lower profitability in the consumer product sales segment[178](index=178&type=chunk) [Other Income, Gains and Losses](index=28&type=section&id=Other%20Income%2C%20Gains%20and%20Losses) Other income, gains, and losses increased from a loss of approximately **SGD 53,400** to a loss of approximately **SGD 147,300**, mainly due to reduced government subsidies and increased exchange losses - Other income, gains, and losses increased from a loss of approximately **SGD 53,400** to a loss of approximately **SGD 147,300**[181](index=181&type=chunk) - The increase was mainly due to a decrease in Singapore government subsidy income and an increase in exchange losses recognized from transactions settled in USD and HKD[181](index=181&type=chunk) [Administrative Expenses](index=28&type=section&id=Administrative%20Expenses) Administrative expenses increased **1.9 times** to approximately **SGD 1.7 million**, primarily due to higher staff costs from an increased headcount in the consumer product sales segment - Administrative expenses increased **1.9 times** from approximately **SGD 0.6 million** to approximately **SGD 1.7 million**[182](index=182&type=chunk) - The increase was mainly due to higher staff costs resulting from an increased headcount in the consumer product sales segment[182](index=182&type=chunk) [Finance Costs](index=28&type=section&id=Finance%20Costs) Finance costs increased **3.9 times** to approximately **SGD 32,600**, primarily due to lease liabilities associated with the repayment of leased office space - Finance costs increased **3.9 times** from approximately **SGD 6,700** to approximately **SGD 32,600**[183](index=183&type=chunk) - The increase was mainly due to lease liabilities related to the repayment of right-of-use assets for leased office space[183](index=183&type=chunk) [Income Tax Expense (Recovery)](index=29&type=section&id=Income%20Tax%20Expense%20%28Recovery%29) Income tax shifted from a recovery of approximately **SGD 57,900** in 2020 to an expense of approximately **SGD 43,900**, an increase of approximately **SGD 101,800**, due to a reversal of over-provision and higher tax expenses from increased profit before tax - Income tax shifted from a recovery of approximately **SGD 57,900** in the corresponding period of 2020 to an expense of approximately **SGD 43,900** in the reporting period, an increase of approximately **SGD 101,800**[187](index=187&type=chunk) - The change was mainly due to the reversal of over-provision for income tax expense of a Singapore subsidiary in 2020 and an increase in tax expense resulting from higher profit before tax in the reporting period[187](index=187&type=chunk) [Loss for the Period](index=29&type=section&id=Loss%20for%20the%20Period) Loss for the period expanded from approximately **SGD 95,600** to approximately **SGD 576,700**, primarily due to increased administrative and capital costs in the new China e-commerce segment, partially offset by improved performance in audio and communication systems - Loss for the period expanded from approximately **SGD 95,600** to approximately **SGD 576,700**[188](index=188&type=chunk) - The increase in loss was mainly due to increased staff administrative costs and capital expenses for business opportunities in the new China e-commerce segment[188](index=188&type=chunk) - Partially offset by improved performance in the audio and communication system sales and related services segment[188](index=188&type=chunk) [Dividends](index=29&type=section&id=Dividends) The Board of Directors did not recommend the payment of any dividends for the reporting period - The Board of Directors did not recommend the payment of any dividends during the period (for the three months ended September 30, 2020: zero Singapore Dollars)[189](index=189&type=chunk) [Comparison of Use of Proceeds from Listing Shares and Business Objectives with Actual Business Progress](index=30&type=section&id=Comparison%20of%20Use%20of%20Proceeds%20from%20Listing%20Shares%20and%20Business%20Objectives%20with%20Actual%20Business%20Progress) Of the **HKD 44.0 million** net proceeds from listing shares, **HKD 23.4 million** has been utilized, with delays in certain initiatives like marketing and new office setup due to COVID-19, and remaining funds expected to be used by June 30, 2023 - Net proceeds from listing shares were approximately **HKD 44.0 million**; as of September 30, 2021, **HKD 23.4 million** had been utilized, with **HKD 20.6 million** unutilized, representing a utilization rate of **53.2%**[193](index=193&type=chunk) Use of Listing Proceeds and Progress (As of September 30, 2021) | Description | Designated Amount (HKD million) | Actual Use (HKD million) | Unutilized Amount (HKD million) | Utilization Rate | Expected Date of Full Utilization | | :------------------------------------------------ | :-------------------------- | :------------------ | :-------------------- | :--------- | :--------------- | | Strengthening Marketing Efforts in Singapore's Audio and Communication Industry | 1.4 | 0.5 | 0.9 | 35.7% | December 31, 2022 | | Expanding and Training Sales & Marketing, Technical, and Support Personnel | 11.6 | 8.2 | 3.4 | 70.7% | June 30, 2023 | | Purchasing Vehicles | 3.0 | 0.5 | 2.5 | 16.7% | June 30, 2023 | | Establishing New Sales Offices in Singapore | 10.0 | – | 10.0 | 0.0% | June 30, 2022 | | Repaying Part of Bank Loans | 10.0 | 10.0 | Zero | 100.0% | Not Applicable | | Providing Resources for Performance Guarantees | 2.0 | 0.7 | 1.3 | 35.0% | June 30, 2023 | | Obtaining Higher Grades for Mechanical and Electrical Works | 2.5 | – | 2.5 | 0.0% | June 30, 2023 | | General Working Capital and General Corporate Purposes | 3.5 | 3.5 | Zero | 100.0% | Not Applicable | | **Total** | **44.0** | **23.4** | **20.6** | **53.2%** | | - The delay in using the proceeds and business expansion has not had any significant adverse impact on the Group's operations, but the Board will continue to closely monitor the impact of the COVID-19 pandemic on the timetable for using the unutilized proceeds[256](index=256&type=chunk) [Comparison of Use of Proceeds from Placing Shares and Business Objectives with Actual Business Progress](index=36&type=section&id=Comparison%20of%20Use%20of%20Proceeds%20from%20Placing%20Shares%20and%20Business%20Objectives%20with%20Actual%20Business%20Progress) Of the **HKD 52.35 million** net proceeds from placing shares, **HKD 31.16 million** has been utilized, primarily for inventory and equipment for China's e-commerce business, with remaining funds expected to be fully used by June 2022 - Net proceeds from placing shares amounted to approximately **HKD 52,347,000**; as of September 30, 2021, **HKD 31,157,510** had been utilized, representing **59.5%** of the total[260](index=260&type=chunk)[261](index=261&type=chunk)[265](index=265&type=chunk) Use of Placing Proceeds and Progress (As of September 30, 2021) | Description | Designated Amount (HKD) | Utilized Amount (HKD) | Utilization Rate | Expected Date of Full Utilization | | :------------------------------------------------ | :-------------- | :---------------- | :--------- | :--------------- | | Establishing New Teams/Hiring Additional Technicians/Sales Personnel/Operations Personnel to Expand Existing Teams | 18,330,000 | 7,007,384 | 38.2% | June 30, 2022 | | Purchasing Inventory | 10,474,000 | 10,054,507 | 96.0% | November 30, 2021 | | Purchasing Machinery and Equipment | 15,711,000 | 9,788,947 | 62.3% | June 30, 2022 | | General Working Capital and General Corporate Purposes | 7,855,000 | 4,306,672 | 54.8% | January 31, 2022 | | **Total** | **52,370,000** | **31,157,510** | **59.5%** | | [Post-Reporting Period Events](index=38&type=section&id=Post-Reporting%20Period%20Events) A joint venture agreement was entered into on October 22, 2021, to provide e-commerce operation services to Chinese brand clients, with no other significant events occurring post-reporting period - On October 22, 2021, Guodu Industrial Limited, a direct wholly-owned subsidiary of the Company, entered into a joint venture agreement with a joint venture partner to establish a joint venture company to engage in the business of providing e-commerce operation services to Chinese brand clients[268](index=268&type=chunk) - Save as disclosed above, no other significant events occurred from the end of the reporting period up to the date of this report[268](index=268&type=chunk) [Disclosure of Interests and Other Information](index=39&type=section&id=Disclosure%20of%20Interests%20and%20Other%20Information) This section details the interests and short positions of directors, chief executives, and substantial shareholders in the company's securities, along with other corporate governance information [Interests and/or Short Positions of Directors and Chief Executives in the Shares, Underlying Shares, and Debentures of the Company or any Associated Corporation](index=39&type=section&id=Interests%20and%2For%20Short%20Positions%20of%20Directors%20and%20Chief%20Executives%20in%20the%20Shares%2C%20Underlying%20Shares%2C%20and%20Debentures%20of%20the%20Company%20or%20any%20Associated%20Corporation) As of September 30, 2021, Mr. Mong King Yiu and Ms. Chong Siew Lan (via Express Ventures) jointly held **13.64%** of the company's shares, while Mr. Cao Chunmeng beneficially owned **9.11%** Long Positions of Directors and Chief Executives in the Ordinary Shares of the Company (As of September 30, 2021) | Name | Capacity/Nature | Number of Shares | Approximate Percentage | | :--------- | :--------------------- | :---------- | :--------- | | Mr. Mong King Yiu | Interest in controlled corporation; Jointly held interest | 120,000,000 | 13.64% | | Ms. Chong Siew Lan | Interest in controlled corporation; Jointly held interest | 120,000,000 | 13.64% | | Mr. Cao Chunmeng | Beneficial owner | 80,200,000 | 9.11% | Long Positions of Directors and Chief Executives in the Ordinary Shares of Associated Corporation Express Ventures (As of September 30, 2021) | Name | Name of Associated Corporation | Capacity/Nature | Number of Shares Held | Approximate Percentage of Equity | | :--------- | :--------------- | :--------- | :----------------- | :------------- | | Mr. Mong King Yiu | Express Ventures | Beneficial owner | 510 | 97.14% | | Ms. Chong Siew Lan | Express Ventures | Beneficial owner | 15 | 2.86% | [Interests and Short Positions of Substantial Shareholders and Other Persons in the Shares, Underlying Shares, and Debentures of the Company](index=41&type=section&id=Interests%20and%20Short%20Positions%20of%20Substantial%20Shareholders%20and%20Other%20Persons%20in%20the%20Shares%2C%20Underlying%20Shares%2C%20and%20Debentures%20of%20the%20Company) As of September 30, 2021, substantial shareholders included Express Ventures (**13.64%**), Li Chao (**10.65%**), and Lux Aeterna Global Fund SPC (**7.42%**) Long Positions of Substantial Shareholders and Other Persons in the Ordinary Shares of the Company (As of September 30, 2021) | Name/Company Name | Capacity/Nature | Number of Shares | Approximate Percentage of Equity | | :------------------------- | :--------- | :---------- | :------------- | | Express Ventures | Beneficial owner | 120,000,000 | 13.64% | | Li Chao | Beneficial owner | 93,750,000 | 10.65% | | Lux Aeterna Global Fund SPC | Beneficial owner | 65,300,000 | 7.42% | [Code of Conduct for Securities Transactions by Directors](index=42&type=section&id=Code%20of%20Conduct%20for%20Securities%20Transactions%20by%20Directors) The company adopted the GEM Listing Rules' required standard of dealings for directors' securities transactions, with all directors confirming compliance during the reporting period - The Company has adopted the required standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules as the code of conduct for directors' securities transactions in shares[284](index=284&type=chunk) - Following specific enquiry with all Directors, all Directors have confirmed that they have complied with the required standard of dealings and the code of conduct for directors' securities transactions during the period and up to the date of this report[284](index=284&type=chunk) [No Change in Directors' Information](index=42&type=section&id=No%20Change%20in%20Directors'%20Information) There have been no changes in the directors' information required to be disclosed under Rule 17.50A(1) of the GEM Listing Rules - There have been no changes in the directors' information required to be disclosed under Rule 17.50A(1) of the GEM Listing Rules[285](index=285&type=chunk) [Sufficient Public Float](index=42&type=section&id=Sufficient%20Public%20Float) The directors confirm that the company maintained a sufficient public float for its shares as stipulated by the GEM Listing Rules throughout the reporting period - The Directors confirm that the Company has maintained a sufficient public float for its shares as stipulated by the GEM Listing Rules throughout the relevant period[286](index=286&type=chunk) [Competition and Conflicts of Interest](index=42&type=section&id=Competition%20and%20Conflicts%20of%20Interest) No directors, controlling shareholders, or their close associates engaged in competing businesses or had disclosable conflicts of interest with the group during the reporting period - During the relevant period, none of the Directors, controlling shareholders, or substantial shareholders of the Company or any of their respective close associates engaged in any business that competes or is likely to compete, directly or indirectly, with the Group's business or had any other conflicts of interest with the Group requiring disclosure under Rule 11.04 of the GEM Listing Rules[287](index=287&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=43&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) The Board confirms that neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities during the reporting period - The Board confirms that neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the relevant period[290](index=290&type=chunk) [Share Option Scheme](index=43&type=section&id=Share%20Option%20Scheme) The company adopted a share option scheme on December 14, 2017, but no share options have been granted under the scheme since its adoption - The Company adopted a share option scheme on December 14, 2017, and no share options have been granted under the scheme since its adoption[291](index=291&type=chunk) [Share Award Scheme](index=43&type=section&id=Share%20Award%20Scheme) The company adopted a share award scheme on February 18, 2021, to recognize contributions and retain talent, with the maximum number of awarded shares not exceeding **1%** of total issued share capital, and no shares purchased or issued under the scheme this year - The Company adopted a share award scheme on February 18, 2021, to recognize contributions, provide incentives to retain talent, and attract suitable individuals[292](index=292&type=chunk) - The maximum number of awarded shares shall not exceed **1%** of the Company's total issued share capital from time to time[292](index=292&type=chunk) - No awarded shares were purchased or issued under the share award scheme during the current year[292](index=292&type=chunk) [Compliance with Corporate Governance Code](index=44&type=section&id=Compliance%20with%20Corporate%20Governance%20Code) The company has substantially complied with the Corporate Governance Code provisions of Appendix 15 to the GEM Listing Rules since its listing on January 16, 2018 - The Company has adopted the code provisions of the Corporate Governance Code set out in Appendix 15 to the GEM Listing Rules since its listing on January 16, 2018[295](index=295&type=chunk) - The Company has substantially complied with the Corporate Governance Code throughout the relevant period, where applicable[295](index=295&type=chunk) [Audit Committee](index=44&type=section&id=Audit%20Committee) The Audit Committee, established on December 14, 2017, comprises three independent non-executive directors and has reviewed the unaudited quarterly results, fulfilling its duties including advising on auditor appointments and reviewing financial statements - The Company established an Audit Committee on December 14, 2017, with terms of reference in compliance with Rules 5.28 to 5.33 of the GEM Listing Rules[296](index=296&type=chunk) - The primary duties of the Audit Committee include advising on the appointment of external auditors, reviewing the Group's financial statements, annual reports and accounts, half-yearly reports, and quarterly reports, as well as reviewing the Group's financial controls, internal controls, and risk management systems[296](index=296&type=chunk) - The Audit Committee comprises three independent non-executive directors: Mr. Tang Chi Wai (Chairman), Mr. Yan Xiaotian, and Dr. Choi Wing Sum[296](index=296&type=chunk) - The Company's unaudited first quarterly results for the relevant period were reviewed by the members of the Audit Committee, who provided their opinions and recommendations thereon[296](index=296&type=chunk) [Other Information](index=45&type=section&id=Other%20Information) This report uses an illustrative exchange rate of **SGD 1 to HKD 5.85**, was issued by Chairman and Executive Director Mr. Mong King Yiu on October 25, 2021, and is available on the GEM and company websites - Singapore Dollars are converted to Hong Kong Dollars at an exchange rate of **SGD 1 to HKD 5.85** for illustrative purposes only[299](index=299&type=chunk) - This report was issued by Mr. Mong King Yiu, Chairman and Executive Director, on October 25, 2021[299](index=299&type=chunk) - This report will be published on the GEM website www.hkgem.com and the Company's website www.ispg.hk[299](index=299&type=chunk)

ISP Global Limited ISP Global Limited ISP Global Limited (incorporated in the Cayman Islands with limited liability) Stock Code: 8487 Annual Report 2020/21 年報 Annual Report 2020/21 ( 於開曼群島註冊成立的有限公司 ) 股份代號：8487 年 2020/21 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公司提供一個上市的市場。有 意投資人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主板買賣的證券承受較大的市場 波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，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報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。 ...

ISP Global Limited ISP Global Limited (incorporated in the Cayman Islands with limited liability) Stock Code: 8487 Third Quarterly Report 2020/2021 ( 於開曼群島註冊成立的有限公司 ) 股份代號：8487 第三季度報告 2020/2021 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為相比起其他在聯交所上市的公司帶有較高投資風險的中小型公 司提供一個上市的市場。有意投資人士應了解投資於該等公司的潛在風險，並應 經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主板 買賣的證券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流 通量的市場。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在 提供有關ISP Global Limited（「本公司」）的資料；本公司董事（「董事」）願就本報告 共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就 ...

Financial Performance - Revenue for the three months ended December 31, 2020, was SGD 3,532,502, representing a 94.5% increase from SGD 1,815,668 in the same period of 2019[5]. - Gross profit for the six months ended December 31, 2020, was SGD 1,418,331, a slight decrease of 3.8% compared to SGD 1,474,685 for the same period in 2019[5]. - The company reported a net profit of SGD 106,740 for the three months ended December 31, 2020, compared to a net loss of SGD 171,649 in the same period of 2019[5]. - Other income for the six months ended December 31, 2020, was SGD 248,436, significantly higher than SGD 52,456 in the same period of 2019[5]. - The total comprehensive income for the three months ended December 31, 2020, was SGD 114,406, recovering from a loss of SGD 171,597 in the same period of 2019[9]. - The company recorded a net cash inflow from operating activities of SGD 347,798 for the six months ended December 31, 2020, compared to a net outflow of SGD 30,680 for the same period in 2019[40]. - The company recorded a net profit of approximately SGD 58,000 for the six months ended December 31, 2020, compared to approximately SGD 64,000 for the same period in 2019, representing a decrease of about 9.4%[162]. - The group recorded a net loss attributable to owners of approximately SGD 43,000 for the period, compared to a profit of about SGD 58,000 in the same period of 2019, primarily due to increased administrative costs and reduced gross profit in the audio and communication systems segment[186]. Assets and Liabilities - Total assets increased to SGD 22,557,368 as of December 31, 2020, up from SGD 17,251,173 as of June 30, 2020[24]. - Current liabilities totaled SGD 6,346,524, significantly higher than SGD 1,051,057 reported on June 30, 2020, indicating a substantial increase in short-term obligations[26]. - The total equity as of December 31, 2020, was SGD 15,023,789, up from SGD 14,906,471 as of June 30, 2020, showing a modest increase of approximately 0.8%[26]. - The company’s trade and other payables increased to SGD 5,946,866 as of December 31, 2020, compared to SGD 548,673 as of June 30, 2020, indicating a significant rise in liabilities[26]. - The group’s trade payables were SGD 5,691,042 as of December 31, 2020, significantly higher than SGD 91,311 as of June 30, 2020[118]. - The company’s cash and cash equivalents stood at SGD 9,843,971 as of December 31, 2020, down from SGD 10,022,877 as of June 30, 2020[24]. Revenue Breakdown - Total revenue for the six months ended December 31, 2020, was SGD 4,581,675, representing an increase of 16.7% compared to SGD 3,925,884 for the same period in 2019[50]. - Revenue from audio and communication system sales and related services was SGD 1,846,451 for the six months ended December 31, 2020, compared to SGD 2,954,620 in the same period of 2019, indicating a decline of 37.5%[50]. - E-commerce revenue reached SGD 2,187,452 for the six months ended December 31, 2020, with no revenue reported in the same period of 2019, marking a significant growth[50]. - Revenue from alarm system services remained stable at SGD 437,772 for both the six months ended December 31, 2020, and 2019[50]. - Revenue from external customers in Singapore decreased to SGD 2,394,223 for the year 2020 from SGD 3,925,884 in 2019, a decline of 39.1%[56]. Expenses and Costs - Administrative expenses increased to SGD 1,450,612 for the six months ended December 31, 2020, compared to SGD 1,366,800 for the same period in 2019[5]. - Total employee costs, including directors' remuneration, amounted to 766,400 SGD, down from 897,277 SGD year-on-year, representing a decrease of approximately 14.6%[72]. - The total cost of materials recognized as cost of sales/services was 2,150,627 SGD, a significant increase from 485,385 SGD year-on-year[71]. - Administrative costs related to the new e-commerce division in China increased from approximately SGD 1.4 million to about SGD 1.5 million, an increase of approximately SGD 84,000 or 6.1%[162]. Cash Flow and Investments - The company’s cash flow from investing activities showed a net outflow of SGD 236,912 for the six months ended December 31, 2020, compared to SGD 25,692 in the previous period, indicating increased investment activity[40]. - The company acquired equipment worth approximately 48,342 SGD during the reporting period, compared to 25,692 SGD in the same period last year[81]. - The company has utilized HKD 10.0 million to repay part of its bank loans, achieving a 100.0% utilization rate[189]. Market and Strategic Initiatives - The company is focused on expanding its e-commerce services, which have shown significant growth potential in the current market[50]. - The company is exploring new opportunities in the online retail space, particularly in response to changing consumer habits during the COVID-19 pandemic[168]. - The company plans to diversify its service offerings to include e-commerce brands attractive to Chinese consumers[169]. - The company is continuously assessing the feasibility of business expansion opportunities in China and Southeast Asia[165]. - The company has implemented emergency plans and optimized its cost structure to maintain customer relationships during the pandemic[165]. - The company aims to enhance operational efficiency and profitability amid the challenges posed by the COVID-19 pandemic[163]. Compliance and Reporting - The company has been applying the International Financial Reporting Standards since the fiscal year starting July 1, 2020[46]. - The effective tax rate for Singapore corporate tax was maintained at 17%[74]. - The company recorded a deferred tax expense of (13,808) SGD for the three months ended December 31, 2020, compared to (18,109) SGD in the same period last year[74].

Financial Performance - For the three months ended September 30, 2020, ISP Global Limited reported revenue of SGD 1,049,173, a decrease of 50.3% compared to SGD 2,110,216 for the same period in 2019[6]. - The gross profit for the same period was SGD 500,368, down 29.5% from SGD 709,631 in the previous year[6]. - The company recorded a loss before tax of SGD 153,454, compared to a profit of SGD 235,597 in the prior year[6]. - The net loss for the period was SGD 95,553, a significant decline from a profit of SGD 229,671 in the same quarter of 2019[6]. - The total comprehensive loss for the period was SGD 96,644, contrasting with a total comprehensive income of SGD 229,634 in the prior year[8]. - Basic and diluted loss per share was SGD (0.01), compared to earnings per share of SGD 0.03 in the same quarter of 2019[8]. - The company reported a net loss of approximately SGD 95,600 for the period ending September 30, 2020, compared to a net profit of approximately SGD 229,700 in the same period of 2019[47]. - Revenue from sales of audio and communication systems and related services was SGD 720,287, a decrease of 57.0% from SGD 1,676,268 in the same period of 2019[27]. - Total revenue for the period was SGD 1,049,173, down 50.3% from SGD 2,110,216 in the same period of 2019[27]. - The company incurred a total employee cost of SGD 623,189, down 26.2% from SGD 845,013 in the same period of 2019[34]. - The company recorded a net foreign exchange loss of SGD 99,896 for the period, compared to a gain of SGD 97,206 in the same period of 2019[30]. - Other income and losses resulted in a loss of approximately SGD 53,400, a decrease of about SGD 186,000, mainly due to foreign exchange losses from currencies like USD and HKD depreciating against SGD[56]. - Administrative expenses slightly decreased by SGD 3,700 or 0.6% to about SGD 593,700, primarily due to reduced labor costs[57]. - Financial costs decreased by approximately SGD 2,600 or 28.0% to about SGD 6,700, mainly due to repayment of mortgage principal[58]. - The company recorded a net loss of approximately SGD 95,600 for the period, compared to a profit of about SGD 229,700 for the previous period, attributed to decreased sales and significant foreign exchange losses[61]. - The company has no proposed or paid dividends during the period, consistent with the previous year[45]. - No dividends were recommended during the period, consistent with the previous period[62]. Business Operations - The company continues to focus on its core business of selling audio and communication systems and providing related services[21]. - The company plans to strengthen its team by hiring technical experts to provide innovative integrated system solutions[48]. - The company has received more maintenance and service contracts for audio and communication system solutions in recent years, despite a contraction in the construction industry in Singapore[48]. - The company plans to gradually resume project site sales and installation deliveries in accordance with existing social distancing measures and regulations during the economic recovery phase post-COVID-19[48]. - Revenue decreased by approximately SGD 1.1 million or 50.3% to about SGD 1.0 million for the period ending September 30, 2019, primarily due to project delays in the audio and communication systems sector[52]. - Cost of sales/service reduced by approximately SGD 0.9 million or 60.8% to about SGD 0.5 million, aligning with the decrease in revenue[53]. - Gross profit decreased from approximately SGD 0.7 million to about SGD 0.5 million, while gross margin increased from 33.7% to 47.7% due to higher actual construction revenue from a specific project[54]. - The company remains cautiously optimistic about business expansion opportunities in Singapore and the Asia-Pacific region[50]. - The company plans to enhance marketing efforts in the audio and communication industry in Singapore, with a budget of SGD 1.4 million, of which 28.6% has been utilized[69]. - The company plans to strengthen its marketing efforts in Singapore's audio and communication industry, including the development of branded marketing materials and participation in industry exhibitions[93]. - The company aims to expand its sales and technical support staff, with plans to hire approximately 8 technicians by June 2018 and additional engineers and sales managers by June 2019[93]. - The company is exploring new comprehensive service projects in Singapore's audio and communication systems, particularly larger projects that may require performance guarantees[99]. - The company continues to receive invitations for tenders and project awards, indicating ongoing business opportunities despite market challenges[102]. Corporate Governance - The financial statements were approved by the board of directors on November 6, 2020, indicating ongoing governance and oversight[21]. - The company confirms that it has maintained sufficient public float as per GEM listing rules during the reporting period[124]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the reporting period[126]. - The company adopted a share option scheme on December 14, 2017, but no options have been granted under this scheme since its adoption[127]. - The audit committee, established on December 14, 2017, is responsible for reviewing financial statements and internal controls[131]. - The company has complied with the corporate governance code since its listing on January 16, 2018[130]. - The first quarter results for the period have not been audited by independent auditors but have been reviewed by the audit committee members[133]. Shareholder Information - Mr. Mong and Ms. Chuang each hold 404,000,000 shares in Express Ventures, representing 50.50% of the total equity[112]. - Mr. Mong has a beneficial ownership of 97.14% in Express Ventures, while Ms. Chuang holds 2.86%[115]. - As of September 30, 2020, Mr. Tsai Lin-Chou holds 41,400,000 shares, accounting for 5.18% of the equity[118]. Currency and Exchange Rates - The exchange rate used for conversion is 1 Singapore Dollar to 5.85 Hong Kong Dollars[133].

Financial Performance - The group experienced a revenue decline of 22.3% due to intensified competition and economic disruptions caused by COVID-19, with the construction industry in Singapore contracting by 59.3% compared to the previous year[11]. - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[18]. - Revenue from sales and related services of audio and communication systems decreased to approximately SGD 5.1 million, accounting for about 76.2% of total revenue, down from SGD 6.4 million or 74.6% in the previous year[38]. - The company recorded revenue of approximately SGD 6.7 million for the fiscal year ending June 30, 2020, a decrease of SGD 1.9 million or 22.2% from SGD 8.6 million in the previous year[42]. - The company provided guidance for the next quarter, expecting revenue to be between $A million and $B million, indicating a growth rate of C%[18]. - New product launches are anticipated to contribute an additional $D million in revenue, with a focus on expanding the product line in the upcoming year[18]. Operational Efficiency - The company is investing in new technology development, allocating $E million towards R&D initiatives aimed at enhancing operational efficiency[18]. - The company has reported a decrease in operational costs by J%, attributed to improved supply chain management[18]. - Administrative expenses decreased by approximately SGD 0.2 million or 6.3% to about SGD 2.5 million, primarily due to a reduction in labor costs from a decrease in employee numbers[46]. - The company implemented cost-saving measures during the COVID-19 outbreak, leading to a reduction in administrative expenses[52]. Market Strategy and Expansion - The company plans to strengthen its team by hiring engineers to provide innovative integrated system solutions, aiming to maintain direct stakeholder relationships in the healthcare and education sectors[12]. - Market expansion plans include entering F new regions, which are projected to increase market share by G% over the next two years[18]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the H sector[18]. - A new marketing strategy has been implemented, aiming to increase brand awareness and customer engagement by I%[18]. Sustainability and Environmental Impact - The management team emphasized a commitment to sustainability, with plans to reduce carbon emissions by K% over the next five years[18]. - The company reported a significant reduction in CO2 emissions from business travel, decreasing from 12.96 tons in the previous year to 2.16 tons this year, a reduction of approximately 83.3%[104]. - The total greenhouse gas emissions from mobile combustion sources decreased from 9.55 tons to 7.54 tons, representing a reduction of about 20.9%[104]. - The company has implemented measures to improve energy efficiency, including automatic shutdown settings for idle computers and printers[109]. - The company has prioritized the purchase of environmentally friendly vehicles, focusing on fuel efficiency and regular maintenance[101]. - The company has adopted a waste management strategy emphasizing reduction, reuse, and recycling, although the amount of non-hazardous waste generated remains minimal[105]. Human Resources and Employee Engagement - The employee count decreased to 59 as of June 30, 2020, from 71 in 2019, indicating a reduction in workforce[70]. - Employee compensation policies are regularly reviewed to ensure competitive remuneration, including salaries, commissions, bonuses, and other benefits[115]. - The company encourages employee participation in professional development and training programs to enhance skills and team performance[127]. - All employees are required to undergo regular performance and career development assessments to motivate training and self-improvement[127]. - The annual employee turnover rate for the company was approximately 19%, with 22% of departing employees being male and 8% female[121]. Corporate Governance - The board consists of seven members, including three executive directors and four independent non-executive directors, ensuring a balanced composition for independent judgment[194]. - The company has adopted corporate governance practices in compliance with GEM Listing Rules, enhancing accountability and transparency to protect shareholders' interests[187]. - Independent non-executive directors account for more than one-third of the board, bringing extensive business and financial expertise[196]. - The company has confirmed compliance with the corporate governance code during the reporting period, ensuring adherence to established standards[187]. - The board meets at least four times a year, approximately once per quarter, to ensure effective oversight[189].