Financial Performance - Revenue for the six months ended June 30, 2020, was SGD 23,188 thousand, a decrease of 12.5% compared to SGD 26,433 thousand in 2019[10] - Gross profit for the same period was SGD 1,226 thousand, resulting in a gross margin of approximately 5.3%[10] - The company reported a net loss of SGD 4,917 thousand for the six months ended June 30, 2020, compared to a profit of SGD 1,496 thousand in 2019[11] - Total expenses for the six months ended June 30, 2020, rose to SGD 28,268,000, an increase of 17.9% from SGD 23,957,000 in the previous year[47] - The company reported a net loss attributable to equity holders of SGD 4,775,000 for the six months ended June 30, 2020, compared to a profit of SGD 1,391,000 in the same period of 2019[62] - Basic and diluted loss per share for the period was SGD (0.49), compared to earnings of SGD 0.17 per share in the previous year[62] - The company reported a total comprehensive income of 1,391 thousand SGD for the six months ended June 30, 2020, compared to 1,496 thousand SGD for the same period in 2019[24] Assets and Liabilities - Total assets as of June 30, 2020, amounted to SGD 90,589 thousand, an increase from SGD 81,721 thousand as of December 31, 2019[17] - The company's total equity increased to SGD 49,764 thousand as of June 30, 2020, compared to SGD 36,896 thousand at the end of 2019[17] - The company’s total liabilities related to lease liabilities decreased to 1,766 thousand SGD from 1,793 thousand SGD, a decrease of about 1.5%[133] - The group’s total financial liabilities decreased to 36,630,000 SGD from 39,965,000 SGD, a decline of approximately 8.4%[97] Cash Flow - The company reported a net cash outflow from operating activities of (2,976) thousand SGD for the six months ended June 30, 2020, compared to (97) thousand SGD for the same period in 2019[26] - The total cash and cash equivalents increased by 16,918 thousand SGD for the six months ended June 30, 2020, compared to a decrease of (4,068) thousand SGD in the same period of 2019[28] - The company raised 22,982 thousand SGD from issuing new shares during the financing activities in the six months ended June 30, 2020[26] - The company had a net cash inflow from financing activities of 24,212 thousand SGD for the six months ended June 30, 2020, compared to a net cash outflow of (3,379) thousand SGD in the same period of 2019[26] - The company incurred a net cash outflow from investing activities of (4,318) thousand SGD for the six months ended June 30, 2020, compared to (592) thousand SGD in the same period of 2019[26] Operational Insights - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[10] - The company is actively monitoring the pandemic's progress and will utilize government subsidies to mitigate financial impacts from project delays[194] - The company has maintained its core business and revenue structure, primarily generating income from contract engineering services within Singapore[193] - The company emphasizes cash conservation and cost control measures as a priority during the COVID-19 period[194] Customer and Revenue Concentration - Three customers accounted for more than 10% of the total revenue, with Customer 1 contributing 3,677 thousand SGD, Customer 2 contributing 9,293 thousand SGD, and Customer 3 contributing 2,909 thousand SGD for the six months ended June 30, 2020[40] - Contract engineering revenue was SGD 20,736,000, down from SGD 21,851,000, representing a decline of 5.1% year-over-year[41] - For the six months ended June 30, 2020, revenue from Eastern Green Power Pte Ltd was 21,000 SGD, down from 29,000 SGD in the same period of 2019, representing a decrease of approximately 27.6%[169] Cost Management - The company incurred administrative expenses of SGD 6,306 thousand, up from SGD 5,007 thousand in the previous year, reflecting a 25.9% increase[10] - Total sales cost was SGD 21,962,000, an increase from SGD 18,950,000, indicating a rise of 15.9% year-over-year[47] - The company incurred financial costs of SGD 511,000, up from SGD 331,000, marking a 54.4% increase[53] Future Outlook - The company expects its performance for the year ending December 31, 2020, to be adversely affected by uncertainties and challenges arising from the pandemic[193] - The Singapore government's GDP growth forecast for 2020 has been revised from a range of -7.0% to -4.0% to -7.0% to -5.0% due to the impact of COVID-19[192] - Construction activities were suspended from April to June 2020 due to government-imposed measures, and the company anticipates additional costs to comply with safety regulations upon resuming operations[193]
伟源控股(01343) - 2020 - 中期财报