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雄岸科技(01647) - 2020 - 中期财报
GRANDSHORESGRANDSHORES(HK:01647)2019-12-30 08:46

Revenue and Profitability - Revenue for the six months ended September 30, 2019, was SGD 19,952,224, a decrease of 11.5% from SGD 22,509,910 in the same period of 2018[27] - Gross profit for the same period was SGD 6,331,018, down from SGD 7,003,388, reflecting a gross margin decline[27] - The company reported a net profit of SGD 446,828 for the six months, a significant decrease of 84.9% compared to SGD 2,957,966 in the prior year[27] - Total comprehensive income for the period was SGD 226,951, compared to SGD 2,952,824 in the previous year, indicating a substantial decline[29] - The basic and diluted earnings per share for the period were SGD (0.04), compared to SGD 0.29 in the same period last year[29] - The company reported a loss attributable to owners of the company of SGD (377,546), contrasting with a profit of SGD 2,958,518 in the previous year[29] - The group recorded a loss attributable to owners of the company of approximately SGD 378,000 for the period, compared to a profit of approximately SGD 3.0 million for the six months ended September 30, 2018[190] Cash Flow and Liquidity - Operating cash generated for the six months ended September 30, 2019, was SGD 3,356,269, compared to SGD 1,162,682 in the previous year, representing a year-over-year increase of approximately 188.5%[44] - Net cash generated from operating activities for the same period was SGD 2,713,654, up from SGD 563,053 in 2018, indicating a significant improvement in operational efficiency[44] - Cash and cash equivalents increased by SGD 7,648,571 during the six months, compared to a decrease of SGD 720,009 in the same period last year, reflecting strong liquidity management[46] - The total cash and cash equivalents at the end of the period stood at SGD 30,422,466, compared to SGD 39,936,245 in the previous year, indicating a decrease in available cash[46] - As of September 30, 2019, the group's cash and bank balances totaled approximately SGD 30.4 million, up from approximately SGD 22.6 million as of March 31, 2019[193] - The group maintained a current ratio of approximately 8.2 times as of September 30, 2019, compared to approximately 5.3 times as of March 31, 2019[193] Expenses and Costs - The company incurred administrative expenses of SGD 6,163,545, which is an increase of 28.2% from SGD 4,812,276 in the previous year[27] - Total employee costs rose to SGD 5,040,190 in the six months ended September 30, 2019, compared to SGD 3,993,018 in 2018, an increase of 26.3%[96] - Administrative expenses increased from approximately SGD 4.8 million for the six months ended September 30, 2018, to approximately SGD 6.2 million for the same period in 2019, an increase of about SGD 1.4 million or approximately 29.2%[186] - The group's financing costs slightly decreased from approximately SGD 57,000 for the six months ended September 30, 2018, to approximately SGD 55,000 for the six months ended September 30, 2019, primarily due to a reduction in mortgage loan interest rates[187] Assets and Liabilities - Current assets increased to SGD 55,064,187 from SGD 50,469,106, showing a growth of 9.4%[32] - Total liabilities decreased to SGD 6,719,882 from SGD 9,528,978, a reduction of 29.0%[32] - The company's equity increased to SGD 57,160,275 from SGD 53,506,006, reflecting a growth of 6.2%[34] - The carrying value of property, plant, and equipment as of September 30, 2019, was SGD 8,730,413, up from SGD 8,013,240 as of March 31, 2019[104] - Inventory as of September 30, 2019, totaled SGD 4,964,631, significantly higher than SGD 1,697,686 as of March 31, 2019, indicating a substantial increase in inventory levels[106] - Trade receivables as of September 30, 2019, amounted to SGD 7,562,275, a decrease of 48% from SGD 14,587,678 on March 31, 2019[109] - Trade and other payables totaled SGD 5,220,810 as of September 30, 2019, a decrease from SGD 8,350,883 on March 31, 2019[123] Strategic Initiatives and Investments - The company has engaged in blockchain technology development and industrial hemp business, indicating diversification in its operational strategy[49] - The company’s investment in property, plant, and equipment amounted to SGD 800,672, a substantial increase from SGD 74,347 in the previous year, reflecting ongoing expansion efforts[44] - The company completed the acquisition of 51% of Heilongjiang Yinma Technology Development Co., Ltd., assuming a responsibility of 10,200,000 RMB (approximately 2,014,264 SGD)[153] - The group is optimistic about the blockchain technology development and application business, which has started generating revenue and is expected to expand into various sectors[174] - The group has begun investing in a new blockchain-related rendering farm in Canada, which is anticipated to become a significant source of future revenue[174] - The group is in the early stages of its industrial hemp business, which involves research, cultivation, and extraction of CBD, and is focused on seizing development opportunities in this area[176] Revenue Breakdown - Revenue from integrated building services was SGD 15,922,280, down from SGD 20,662,990 year-on-year, indicating a decline of about 22%[79] - The company reported a significant decrease in revenue from building construction projects, with earnings of SGD 826,222 compared to SGD 1,846,920 in the previous year, reflecting a decline of approximately 55%[79] - The company’s blockchain technology development and application segment generated revenue of SGD 3,203,722, marking its first contribution to overall revenue[79] - Revenue from major customers contributing over 10% to total revenue was SGD 6,177,961 for Customer I and SGD 2,446,772 for Customer II in the six months ended September 30, 2019, compared to SGD 9,168,301 and SGD 2,461,585 respectively in 2018[80] Financial Reporting Changes - The company has adopted IFRS 16 for leases, which may impact future financial reporting and asset management strategies[55] - The company recognized right-of-use assets of SGD 697,401 and lease liabilities of SGD 714,063 as of September 30, 2019, following the adoption of IFRS 16[74] - The company transitioned to IFRS 16, resulting in the recognition of additional right-of-use assets and lease liabilities of SGD 797,810 as of April 1, 2019[71] - The company confirmed depreciation expenses of SGD 396,456 and interest costs of SGD 21,194 for the leases during the six months ended September 30, 2019[74]