Financial Performance - Total revenue for the first half of 2021 decreased by approximately 58.1% to THB 145.3 million from THB 347.1 million in the same period of 2020[12] - The gross profit for the first half of 2021 was approximately THB 15.1 million, representing a gross margin of 10.4%, compared to a gross loss of THB 23.5 million in the same period of 2020[13] - The net loss for the first half of 2021 was approximately THB 18.3 million, an improvement from a net loss of THB 54.7 million in the same period of 2020[19] - Revenue for the six months ended June 30, 2021, was THB 145,294, a decrease of 58% compared to THB 347,123 in 2020[63] - Gross profit for the same period was THB 15,069, compared to a gross loss of THB 23,539 in 2020[63] - The company reported a net loss attributable to shareholders of THB 18,325, improving from a loss of THB 54,741 in the previous year[63] - The company reported a pre-tax loss of THB 16,110,000 for the six months ended June 30, 2021, compared to a loss of THB 16,969,000 in the same period of 2020[99] Income and Expenses - Other income increased by approximately THB 21.2 million to THB 29.5 million, primarily due to financial leasing interest income of about THB 26.1 million[14] - Sales and distribution expenses increased by THB 1.3 million to approximately THB 6.1 million, mainly due to sales commissions and employee salaries[16] - Administrative expenses decreased by approximately 7.6% to THB 26.8 million from THB 29.0 million in the same period of 2020[17] - Financial costs increased by approximately THB 24.3 million to THB 30.0 million, primarily due to interest expenses from financial leasing[18] Assets and Liabilities - As of June 30, 2021, non-current trade receivables amounted to approximately 710.8 million THB, an increase from 600.7 million THB as of December 31, 2020[21] - Current trade receivables were approximately 438.4 million THB, up from 219.3 million THB as of December 31, 2020, primarily related to customer F's ATM project[21] - The group's total interest-bearing bank borrowings due within one year was approximately 157.4 million THB, a decrease from 178.4 million THB as of December 31, 2020[23] - The group's debt-to-equity ratio as of June 30, 2021, was approximately 51.3%, compared to 47.5% as of December 31, 2020[25] - Cash and cash equivalents were approximately 33.3 million THB, down from about 186.2 million THB as of December 31, 2020[25] - The company’s total liabilities increased to THB 1,443,982 from THB 1,170,109, representing a rise of 23.3%[68] - Total assets less current liabilities amounted to THB 1,326,168, compared to THB 1,206,074 in the previous year, reflecting an increase of 9.9%[68] Project and Operational Challenges - The company faced significant challenges in project completion and acquisition of new projects due to the ongoing COVID-19 pandemic[10] - The BAAC third phase project and new cash deposit machine project deadlines are expected to be delayed until 2022[10] - Despite the challenges, the company remains confident in its long-term prospects due to its core team and competitive advantages[10] Corporate Governance - The company has adopted corporate governance codes to enhance shareholder value and transparency[55] - The audit committee, consisting of three independent non-executive directors, oversees financial reporting and internal controls[59] - The company confirms compliance with the standard code of conduct and has not identified any violations by employees[57] - No directors or major shareholders have interests in competing businesses as of June 30, 2021[58] - The company has maintained high standards of corporate governance to protect shareholder interests[55] - The audit committee reviewed the unaudited consolidated financial statements for the six months ending June 30, 2021, and found them compliant with relevant accounting standards[61] - Asvaplungprohm serves as both the chairman and CEO, a role deemed beneficial for the company's strategic development[55] - The company has established a written guideline for employees regarding insider trading compliance[57] Shareholder Information - Asvaplungprohm holds 75% of the company's shares, with a total of 300,000,000 shares[50] - Talomsin and Archadechopon hold 2% each of Pynk, which is controlled by Asvaplungprohm[50] - No interim dividend was declared for the six months ended June 30, 2021[40] Market and Strategic Initiatives - The company is focused on expanding its market presence in Thailand, particularly through partnerships with state-owned enterprises like the Provincial Electricity Authority (PEA)[182] - The company aims to enhance its product offerings and technological capabilities to better serve its clients[186] - The company is actively exploring new strategies for growth and market expansion in the Southeast Asian region[185] Joint Ventures and Investments - The group entered into a joint venture agreement on June 1, 2021, to invest and develop cash deposit machine projects in Thailand, with equity interests of 44%, 9%, and 47% held by Platt Nera, Mr. Prapan Asvaplungprohm, and Cash Machine Capital Co., Ltd., respectively[27] - The company invested THB 22,000 in associated companies during the period[73] - The company invested 22.0 million THB in a joint venture for a cash deposit machine project in Thailand[105] Cash Flow and Financial Position - Operating cash flow for the six months was THB (137,432), an improvement from THB (306,288) in 2020[73] - The cash and cash equivalents at the end of the period were THB 27,912,000 compared to THB 29,245,000 in the previous period[80] - The company had cash and cash equivalents of 33,327 THB as of June 30, 2021, down from 186,167 THB as of December 31, 2020[126]
PLATT NERA(01949) - 2021 - 中期财报