Financial Performance - For the three months ended June 30, 2023, revenue was SGD 7,853,000, a decrease of 6.5% compared to SGD 8,396,000 for the same period in 2022[5]. - Gross profit for the six months ended June 30, 2023, was SGD 4,595,000, representing an increase of 7.3% from SGD 4,282,000 in the same period last year[5]. - The net profit attributable to owners for the six months ended June 30, 2023, was SGD 1,052,000, compared to a loss of SGD 405,000 in the same period of 2022[5]. - The company reported a basic and diluted earnings per share of SGD 1.27 for the six months ended June 30, 2023, compared to a loss per share of SGD 0.66 in the previous year[5]. - Revenue for the six months ended June 30, 2023, was SGD 15,347,000, down 7.7% from SGD 16,624,000 in the prior year[22]. - The group’s revenue decreased by approximately SGD 1.3 million or about 7.8% to approximately SGD 15.3 million for the six months ended June 30, 2023, compared to SGD 16.6 million for the same period in 2022, primarily due to a reduction in sales volume of frozen products[67]. - The overall gross profit increased by approximately SGD 0.3 million or about 7.0% to approximately SGD 4.6 million for the six months ended June 30, 2023, with the gross profit margin rising from 25.8% to 29.9%, driven by higher selling prices of frozen products[69]. - The group recorded a profit of approximately SGD 1.05 million for the six months ended June 30, 2023, compared to a loss of approximately SGD 0.4 million for the same period in 2022, primarily due to a reduction in administrative and other operating expenses by about SGD 1 million[74]. Assets and Liabilities - Total assets as of June 30, 2023, were SGD 14,593,000, down from SGD 16,376,000 as of December 31, 2022[9]. - Current liabilities decreased to SGD 7,957,000 as of June 30, 2023, from SGD 10,916,000 at the end of 2022[10]. - The company’s non-current assets totaled SGD 15,021,000 as of June 30, 2023, a decrease from SGD 15,523,000 as of December 31, 2022[9]. - The company’s total equity increased to SGD 14,290,000 as of June 30, 2023, from SGD 13,218,000 at the end of 2022[10]. - The company’s bank borrowings as of June 30, 2023, were SGD 5,524,000, a slight decrease from SGD 5,857,000 as of December 31, 2022[37]. - As of June 30, 2023, the group's total borrowings were approximately SGD 9.4 million, down from SGD 10.9 million as of December 31, 2022, with a debt-to-equity ratio of approximately 65.6%[80]. Cash Flow and Expenses - Operating cash flow for the six months ended June 30, 2023, was SGD 738,000, a significant increase from SGD 25,000 in the same period last year[13]. - The company experienced a decrease in cash and cash equivalents, ending the period with SGD 2,820,000, down from SGD 4,128,000 a year earlier[14]. - The company incurred interest expenses of SGD 140,000, down from SGD 181,000 in the previous year[13]. - Administrative and other operating expenses decreased by approximately SGD 1.4 million or about 40% to approximately SGD 2.1 million for the six months ended June 30, 2023, due to reductions in salaries and other operating costs[71]. Share Capital and Options - The company’s issued share capital increased to 83,092,000 shares as of June 30, 2023, from 58,320,000 shares at the beginning of 2022, reflecting a capital raise[38]. - As of June 30, 2023, there were 1,580,000 unexercised share options at an exercise price of SGD 0.71, unchanged from the previous year[43]. - The total number of issued shares as of June 30, 2023, is 83,012,000[93]. - The stock options granted to employees totaled 2,370,000, with 1,580,000 exercised during the period[101]. Compliance and Governance - The company has complied with the corporate governance code as per GEM listing rules during the six months ending June 30, 2023[108]. - All directors confirmed compliance with the trading standards for securities transactions during the six months ending June 30, 2023[110]. - The audit committee of Cool Link (Holdings) Limited consists of one non-executive director and three independent non-executive directors, ensuring compliance with applicable accounting standards and regulations[111]. Future Outlook and Strategy - The company plans to continue its focus on the food and healthcare supply business, aiming for market expansion and potential new product development[17]. - The company continues to explore diverse opportunities to broaden revenue sources and enhance market share despite challenges posed by COVID-19 and geopolitical risks[65]. - The company is committed to minimizing the impact of external challenges on its core business while striving for sustainable growth and improved profitability[65].
COOL LINK(08491) - 2023 - 中期财报