Financial Performance - Revenue for the six months ended June 30, 2021, was SGD 35,971,000, an increase of 72.5% compared to SGD 20,856,000 for the same period in 2020[3] - Gross profit for the six months ended June 30, 2021, was SGD 3,925,000, representing a 36.5% increase from SGD 2,876,000 in the same period of 2020[3] - Operating profit for the six months ended June 30, 2021, was SGD 1,109,000, up from SGD 514,000 in the same period of 2020, marking a 115.5% increase[3] - Net profit for the six months ended June 30, 2021, was SGD 823,000, compared to SGD 427,000 for the same period in 2020, reflecting a 93.7% increase[5] - The company reported a pre-tax profit of SGD 1,074,000 for the six months ended June 30, 2021, compared to SGD 498,000 in the same period of 2020, marking a 116% increase[12] - Profit for the six months ended June 30, 2021, was approximately SGD 0.8 million, an increase of approximately SGD 0.4 million or 100.0% compared to SGD 0.4 million for the same period in 2020[67] Assets and Liabilities - Total assets as of June 30, 2021, were SGD 27,915,000, a decrease from SGD 30,082,000 as of December 31, 2020[7] - Current liabilities decreased to SGD 12,105,000 as of June 30, 2021, from SGD 15,214,000 as of December 31, 2020[7] - Total equity increased to SGD 16,672,000 as of June 30, 2021, compared to SGD 15,864,000 as of December 31, 2020[8] - Cash and cash equivalents decreased to SGD 14,970,000 as of June 30, 2021, from SGD 19,283,000 as of December 31, 2020[7] - Trade receivables amounted to SGD 12,252,000 as of June 30, 2021, an increase from SGD 10,302,000 as of December 31, 2020[41] - Other payables and accrued expenses amounted to SGD 5,692,000 as of June 30, 2021, compared to SGD 9,190,000 as of December 31, 2020[48] Cash Flow - Operating cash flow before working capital changes increased to SGD 1,554,000 in 2021 from SGD 936,000 in 2020, representing a growth of 66%[12] - Net cash used in operating activities was SGD (3,934,000) in 2021, a significant decline from SGD 4,295,000 in 2020[12] - Cash and cash equivalents decreased by SGD 4,297,000 in the first half of 2021, compared to an increase of SGD 3,720,000 in the same period of 2020[13] - The company’s total cash and cash equivalents at the end of June 30, 2021, stood at SGD 14,970,000, down from SGD 16,418,000 at the end of June 30, 2020[13] Earnings and Costs - The company reported a basic and diluted earnings per share of SGD 0.14 for the six months ended June 30, 2021, compared to SGD 0.07 for the same period in 2020[5] - The total employee costs for the six months ended June 30, 2021, were SGD 34,068,000, which includes salaries and bonuses of SGD 26,307,000, up from SGD 14,743,000 in the same period of 2020[32] - The group’s income tax expense for the six months ended June 30, 2021, was SGD 251,000, compared to SGD 71,000 in the same period of 2020[34] - The total cost of property, plant, and equipment purchased by the group was approximately SGD 33,000 for the six months ended June 30, 2021, compared to SGD 115,000 for the same period in 2020[40] Government Grants and Other Income - The group recognized approximately SGD 44,000 in government grants related to COVID-19 during the six months ended June 30, 2021[31] - Total other income for the six months ended June 30, 2021, was SGD 155,000, down from SGD 574,000 in the same period of 2020[30] - Other income decreased by approximately SGD 419,000 or 73.0% from SGD 574,000 to SGD 155,000, primarily due to reduced government subsidies and foreign exchange gains[62] Employee and Management Information - The group employed 63 full-time employees as of June 30, 2021, an increase from 57 employees as of June 30, 2020[73] - The total remuneration for key management personnel for the six months ended June 30, 2021, was SGD 416,000, a decrease from SGD 474,000 for the same period in 2020[53] Future Plans and Investments - The group is actively exploring new business opportunities and has signed a non-binding memorandum of understanding with Zhong An Holdings Group to expand revenue sources and establish a wholly-owned subsidiary in Hong Kong[56] - The company plans to delay the utilization of the remaining net proceeds until the business environment improves post-COVID-19, expected by the end of 2021[98] - The group has no future plans for significant investments or equity assets as of June 30, 2021[81] Compliance and Reporting - The audit committee, consisting of two independent non-executive directors, has reviewed the unaudited condensed consolidated interim financial statements for the six months ended June 30, 2021, ensuring compliance with applicable accounting standards and GEM listing rules[110] - The company will publish the report on the Hong Kong Stock Exchange website and its own website for at least seven days from the publication date[111] - The report is prepared in English and translated into Chinese, with the English version prevailing in case of discrepancies[112] - The company is listed under stock code 8462 on the Hong Kong Stock Exchange[115]
中安控股集团(08462) - 2021 - 中期财报