Financial Performance - For the six months ended August 31, 2020, the company reported revenue of 6,300 thousand SGD, a decrease of 76.7% compared to 27,063 thousand SGD in the same period of 2019[7] - The gross profit for the same period was 79 thousand SGD, down from 7,609 thousand SGD in 2019, indicating a significant decline in profitability[7] - The company recorded a loss of 4,375 thousand SGD for the period, compared to a profit of 3,011 thousand SGD in the previous year, reflecting a negative shift in financial performance[7] - Total comprehensive income for the period was a loss of 4,692 thousand SGD, contrasting with a total comprehensive income of 3,012 thousand SGD in 2019[7] - For the six months ended August 31, 2020, the company reported a total comprehensive income of (4,692) thousand SGD, compared to (3,012) thousand SGD for the same period in 2019, indicating a decline of approximately 55.8%[12] - The company experienced a loss of (4,375) thousand SGD in other comprehensive income for the six months ended August 31, 2020, compared to a gain of 3,011 thousand SGD in the same period of 2019, marking a shift of approximately 245.1%[12] - The group reported a net loss before tax of 12 thousand SGD for the six months ended August 31, 2020, compared to a profit before tax of 746 thousand SGD in the same period of 2019[57] - The company reported a loss of approximately SGD 4.4 million for the period, a decrease of SGD 7.4 million compared to a profit of SGD 3.0 million in the previous year[154] Assets and Liabilities - Non-current assets decreased to 14,496 thousand SGD as of August 31, 2020, from 14,663 thousand SGD as of February 29, 2020[10] - Current assets dropped significantly to 35,374 thousand SGD from 44,432 thousand SGD, indicating a liquidity challenge[10] - Total assets decreased to 49,870 thousand SGD from 59,095 thousand SGD, reflecting a reduction in the company's overall asset base[10] - Total liabilities were reported at 7,401 thousand SGD, down from 11,934 thousand SGD, showing a decrease in financial obligations[10] - The company's equity attributable to owners of the parent decreased to 42,469 thousand SGD from 47,161 thousand SGD, indicating a decline in shareholder value[10] - The company’s total assets as of August 31, 2020, were reported at 42,469 thousand SGD, down from 47,161 thousand SGD as of February 29, 2020, indicating a decrease of about 9.9%[12] Cash Flow and Liquidity - The company's operating cash flow for the six months ended August 31, 2020, was (2,063) thousand SGD, an improvement from (2,839) thousand SGD in the previous year, reflecting a decrease in cash outflow of about 27.3%[15] - As of August 31, 2020, the company had cash and cash equivalents of 27,628 thousand SGD, a significant increase from 6,046 thousand SGD at the end of the previous year, representing a growth of approximately 356.5%[15] - The group reported cash and cash equivalents of 27,628 thousand SGD as of August 31, 2020, down from 30,088 thousand SGD as of February 29, 2020, a decrease of about 8.2%[100] Revenue and Income Sources - Other income for the six months ended August 31, 2020, totaled 2,040 thousand SGD, significantly up from 764 thousand SGD in 2019, driven by government grants of 1,422 thousand SGD compared to 62 thousand SGD in 2019[40] - Major customers contributing 10% or more to the group's revenue include Customer Group B with revenue of 3,629 thousand SGD in 2020, down from 6,413 thousand SGD in 2019, and Customer N with 1,328 thousand SGD in 2020, down from 9,940 thousand SGD in 2019[29] - The total expected revenue from customer contracts is 68,740 thousand SGD, down from 113,798 thousand SGD in 2019, indicating a decline in future revenue expectations[35] Operational Changes and Strategic Focus - The company has not provided specific guidance for future performance or strategic initiatives during this reporting period[7] - The company has not reported any new product launches or technological advancements during this period, focusing instead on operational efficiency and cash flow management[18] - The company continues to explore market expansion opportunities, particularly in structural engineering and construction services, to enhance its competitive position[19] Shareholder Information - The basic loss per share for the six months ended August 31, 2020, was SGD 4,692,000, compared to a profit of SGD 3,012,000 in 2019, with the weighted average number of shares increasing from 1,050,000,000 to 1,400,000,000[67] - The company did not declare any dividends for the six months ended August 31, 2020, nor for the same period in 2019[143] - The total issued shares as of February 29, 2020, were 1,400,000,000, with a par value of 0.0001 USD per share, following a restructuring and capital increase[115] Management and Governance - The company has complied with the corporate governance code, except for the combined roles of the Chairman and CEO held by Mr. Xu Xuping[185] - The audit committee has reviewed the unaudited interim results for the six months ended August 31, 2020, and found no disagreements with the accounting standards and policies adopted by the company[188] - The management has adopted a policy to hire foreign workers from multiple countries to mitigate potential shortages due to regulatory changes[168] Market and Economic Conditions - The board continues to assess the impact of the COVID-19 pandemic on the group's operations and financial performance, with evaluations ongoing[169]
CTR HOLDINGS(01416) - 2021 - 中期财报