Financial Performance - Total revenue for the six months ended June 30, 2021, was approximately SGD 35.5 million, a decrease of about 1.5% compared to SGD 36.0 million for the same period in 2020[11]. - Cost of sales for the same period was approximately SGD 26.7 million, an increase of about 9.4% from SGD 24.4 million in 2020[12]. - Gross profit decreased from approximately SGD 11.6 million in 2020 to about SGD 8.8 million in 2021, with a gross margin decline from 32.3% to 24.8%[14]. - Net profit for the six months ended June 30, 2021, was approximately SGD 4.3 million, a decrease of about 43.5% from SGD 7.6 million in 2020[17]. - Operating profit decreased to 5,073 thousand SGD, a decline of 39.5% compared to 8,405 thousand SGD in the previous year[50]. - The company reported a basic and diluted earnings per share of 0.22 SGD, down from 0.51 SGD in the previous year, a decrease of 56.9%[50]. - The company reported a net cash increase of 8,756 thousand SGD for the six months ended June 30, 2021, compared to a decrease of 5,251 thousand SGD in the previous year[59]. - The total comprehensive income for the six months ended June 30, 2021, was 4,325 thousand SGD, compared to 4,318 thousand SGD for the same period in 2020, reflecting a slight increase[57]. Assets and Liabilities - Current assets were approximately SGD 51.0 million, including cash and bank balances of about SGD 28.8 million[18]. - Total assets as of June 30, 2021, amounted to 56,395 thousand SGD, an increase of 9.5% from 51,514 thousand SGD at the end of 2020[52]. - Total equity increased to 38,192 thousand SGD, up from 33,874 thousand SGD at the end of 2020, reflecting a growth of 12.5%[52]. - Total borrowings rose to 8,376 thousand SGD as of June 30, 2021, compared to 6,168 thousand SGD as of December 31, 2020, marking an increase of about 35.9%[97]. - The company reported a decrease in trade and other receivables to 22,165 thousand SGD as of June 30, 2021, down from 24,702 thousand SGD as of December 31, 2020, a decline of approximately 10.3%[87]. - Cash and cash equivalents increased to 28,846 thousand SGD as of June 30, 2021, compared to 20,091 thousand SGD as of December 31, 2020, representing a growth of about 43.5%[94]. Employee and Operational Metrics - The group employed approximately 2,534 employees as of June 30, 2021, a decrease from 2,621 employees in the previous year[30]. - Employee benefits expenses increased to 21,317 thousand SGD for the six months ended June 30, 2021, compared to 19,569 thousand SGD for the same period in 2020, reflecting an increase of approximately 8.9%[6]. - The group has not experienced any significant labor disputes during the reporting period[31]. - The group has established a progressive salary scheme for employees in accordance with local regulations[30]. Government Support and Subsidies - The group confirmed one-time government subsidies totaling approximately SGD 1.6 million for the six months ended June 30, 2021, down from SGD 6.0 million in the same period of 2020[14]. Future Plans and Utilization of Proceeds - The group aims to enhance its market position in the environmental services industry and maintain high-quality cleaning services[10]. - The board will continue to monitor the utilization of proceeds and report any significant changes to shareholders and potential investors[28]. - The group has utilized a total of 11,825 thousand SGD from the proceeds, with 7,791 thousand SGD already used and 4,034 thousand SGD remaining[28]. - Acquisition of Garden Scene Company accounted for 15.0% of the total proceeds, amounting to 1,774 thousand SGD, fully utilized by December 31, 2023[28]. - Procurement of waste treatment equipment represents 21.3% of the total proceeds, with 2,520 thousand SGD allocated, of which 2,370 thousand SGD remains to be utilized by December 31, 2023[28]. - Employment of waste treatment personnel constitutes 20.7% of the total proceeds, totaling 2,446 thousand SGD, with 2,272 thousand SGD yet to be utilized by December 31, 2023[28]. Compliance and Governance - The audit committee has reviewed the unaudited interim results and confirmed compliance with applicable accounting principles and standards[36]. - The company is required to maintain certain financial ratios as part of its loan agreements with banks[104]. - The company has provided corporate guarantees from Hygieia Group Limited for its bank financing arrangements[106]. Market and Trading Status - The company’s shares have been suspended from trading since April 1, 2021, pending the announcement of the audited annual results for 2020[47]. - The company is registered under the highest financial level FM02 in Singapore's contractor registration system[121].
HYGIEIA GROUP(01650) - 2021 - 中期财报