Revenue Performance - Revenue for the six months ended November 30, 2020, was SGD 10,240,167, an increase from SGD 8,080,441 in 2019, representing a growth of 26.7%[15] - Revenue for the three months ended November 30, 2020, was SGD 3,789,860, compared to SGD 2,683,610 for the same period in 2019, representing an increase of approximately 41.2%[22] - Revenue from contracts with customers is recognized when control of goods or services is transferred to the customer, excluding amounts collected on behalf of third parties[47] - Revenue from external customers for the myBill segment was SGD 9,447,393 in 2020, compared to SGD 6,516,847 in 2019, representing an increase of approximately 45%[63] - The group’s total revenue for the six months ended November 30, 2020, was SGD 10,240,167, up from SGD 8,080,441 in the same period in 2019, marking an increase of about 27%[63] - Revenue from the Simplity segment grew significantly by 54.8% or SGD 3,073,103, while Starlight and myBill revenues decreased by SGD 829,043 (56.6%) and SGD 142,557 (15.6%) respectively[140] Profitability - Gross profit increased to SGD 4,081,142 from SGD 3,174,931, reflecting a growth of 28.5%[15] - The pre-tax profit turned from a loss of SGD 500,643 to a profit of SGD 1,962,375, primarily due to increased revenue and reduced group operating expenses[17] - The company reported a net profit attributable to owners of SGD 1,962,753 for the six months ended November 30, 2020, compared to a loss of SGD 179,506 in the same period of 2019[22] - The total reported segment profit for the group was SGD 3,082,680 for the six months ended November 30, 2020, compared to SGD 1,900,192 for the same period in 2019, reflecting a growth of about 62%[63] Cash Flow and Assets - The net cash generated from operating activities for the six months ended November 30, 2020, was SGD 5,872,610, compared to a net cash used of SGD 633,279 in the same period of 2019[28] - Total assets as of November 30, 2020, amounted to SGD 14,768,206, an increase from SGD 13,539,070 as of May 31, 2020[23] - Cash and cash equivalents at the end of the period were SGD 9,846,577, significantly higher than SGD 2,413,181 at the end of the same period in 2019[28] - The group’s cash and cash equivalents increased significantly from SGD 4,749,041 as of May 31, 2020, to SGD 9,846,577 as of November 30, 2020[67] Expenses and Costs - Increased costs related to human resources were noted, primarily to support revenue growth, with challenges in employee retention leading to higher compensation and outsourcing costs[17] - Administrative expenses decreased by SGD 658,815 due to the divestment of a joint venture in China, stabilizing management costs in Singapore[143] - Sales costs increased by 25.6%, with Simplity's sales costs rising by 66.5% or SGD 2,136,578, primarily due to labor-related costs[141] Segment Performance - Simplicity total revenue for the six months ended November 30, 2020, was SGD 8,678,395, representing a 54.8% increase compared to SGD 5,605,292 for the same period in 2019[125] - Project revenue for Simplicity increased by 75.5% to SGD 6,802,803 from SGD 3,876,593 year-over-year[126] - Starlight total revenue decreased to SGD 636,850 for the six months ended November 30, 2020, down from SGD 1,465,893 in the previous year, reflecting a decline of 56.6%[128] - SpaceMonster revenue increased by 59.6% to SGD 155,924 compared to SGD 97,701 for the same period in 2019[135] Research and Development - Research and development expenses for the six months ended November 30, 2020, were SGD 479,418, slightly up from SGD 460,221 in the same period of 2019[22] - Research and development efforts continue to enhance existing products, with a focus on adding new features to improve customer experience[145] Corporate Governance - The company has complied with the corporate governance code since its listing date[165] - The Audit Committee was established on November 24, 2016, consisting of three independent non-executive directors, with Mr. Li Wenwei as the chairman[167] - The main responsibilities of the Audit Committee include recommending the appointment and dismissal of external auditors, reviewing financial statements, and overseeing risk management and internal control procedures[167] Shareholder Information - Major shareholders include iGlobe Platinum Fund Limited with 82,326,335 shares, representing 20.62% of the total issued shares[152] - Huang Yan Yan holds 45,572,000 shares, accounting for 11.42% of the total issued shares[152] - M1 Limited has a beneficial interest in 20,259,000 shares of M1 TeliNet Pte. Ltd., which is 5.08% of the total issued shares[152] Dividend Information - The company did not declare an interim dividend for the six months ended November 30, 2020, compared to SGD 0 for the same period in 2019[18] - The company did not declare any interim dividend for the six months ended November 30, 2020[166]
安科系统(08353) - 2021 - 中期财报