Financial Performance - Revenue for the six months ended December 31, 2020, was S$4,505,049, a decrease of 2.6% from S$4,625,426 in the same period of 2019[11]. - Gross profit for the same period was S$687,425, down 54.5% from S$1,509,541 in 2019[11]. - Profit for the period was S$31,229, a significant decline of 95.5% compared to S$691,499 in the previous year[11]. - Total comprehensive loss for the period amounted to S$1,091,911, contrasting with a total comprehensive income of S$657,678 in 2019[11]. - Basic and diluted earnings per share were 0.004 cents, a decrease from 0.086 cents in the same period of 2019[11]. - Profit before taxation for the six months ended December 31, 2020, was S$82,605,000, down from S$784,178,000 for the same period in 2019, a decrease of approximately 89.4%[21]. - Operating cash flows before working capital changes were S$133,275,000, significantly lower than S$702,206,000 in the previous year, a decline of about 81.0%[21]. - Net cash used in operating activities was S$800,580,000, compared to cash generated of S$1,689,701,000 in the prior year, indicating a substantial decrease[21]. - The Group's gross profit was approximately S$0.7 million for the six months ended December 31, 2020, with a gross profit margin of approximately 15.3%, down from 32.6% in the same period of 2019[97]. - The Group recorded a profit of approximately S$0.03 million for the six months ended December 31, 2020, down from approximately S$0.7 million for the same period in 2019[100]. Assets and Liabilities - As of December 31, 2020, total non-current assets decreased to S$634,559,000 from S$716,686,000 as of June 30, 2020, representing a decline of approximately 11.4%[13]. - Current assets totaled S$28,987,033,000, a slight decrease from S$29,698,625,000, indicating a reduction of about 2.4%[13]. - Total current liabilities rose to S$2,196,654,000 from S$1,896,222,000, marking an increase of about 15.9%[13]. - Net current assets decreased to S$26,790,379,000 from S$27,802,403,000, a decline of approximately 3.6%[13]. - Total equity attributable to owners of the Company decreased to S$27,397,628,000 from S$28,489,539,000, a reduction of approximately 3.8%[14]. - Trade receivables increased to S$1,961,559,000 from S$1,693,123,000, reflecting a growth of approximately 15.8%[13]. - Trade payables increased to S$959,857 as of December 31, 2020, compared to S$495,912 as of June 30, 2020, indicating a significant rise of approximately 93.4%[75]. - The aged analysis of trade payables showed that S$642,135 was due within 90 days as of December 31, 2020, compared to S$416,065 as of June 30, 2020, marking an increase of approximately 54.3%[79]. - Contract assets related to construction contracts rose to S$3,459,721 as of December 31, 2020, compared to S$2,273,220 as of June 30, 2020, reflecting an increase of approximately 52%[68]. - Contract liabilities decreased to S$527,462 as of December 31, 2020, from S$691,663 as of June 30, 2020, indicating a reduction of about 23.7%[69]. Cash Flow and Financing - Net cash generated from investing activities for the six months ended 31 December 2020 was S$35,919, a decrease of 78.4% compared to S$166,205 in the same period of 2019[23]. - Interest received decreased significantly to S$43,328, down 76.1% from S$179,564 in the previous year[23]. - Net cash used in financing activities was S$39,799, a reduction from S$46,548 in the prior period, indicating improved cash management[23]. - Cash and cash equivalents at the end of the period stood at S$23,305,860, a decrease from S$24,239,765 year-over-year[23]. - The company reported a net decrease in cash and cash equivalents of S$804,460, contrasting with an increase of S$1,809,358 in the same period of 2019[23]. Operational Insights - The company continues to focus on strategic initiatives to enhance operational efficiency and market presence[10]. - The company is primarily engaged in integrated design and building services in the medical and healthcare sectors, focusing on radiation shielding works[26]. - Revenue is derived from three main segments: integrated design and building services, maintenance and other services, and sales of tools and materials[33]. - The Group's ability to recommence most projects immediately after the Circuit Breaker Period minimized the impact of the revenue decline during the pandemic[89]. - The Singapore Government's initiatives to increase medical-related facilities are expected to drive demand for radiation shielding works, aligning with the Group's core business focus[90]. - The Group specializes in integrated design and building services for hospitals and clinics, positioning itself well to benefit from the growing healthcare sector in Singapore[88]. Governance and Compliance - The Company has complied with the Corporate Governance Code during the six months ended December 31, 2020, except for the deviation regarding the roles of Chairman and CEO being held by the same individual[155][156]. - The Company has maintained the prescribed public float under the Listing Rules as of the date of the report[157]. - The audit committee reviewed the unaudited condensed consolidated results for the six months ended December 31, 2020, with no disagreements noted[164]. Employee and Management - As of December 31, 2020, the Group employed a total of 50 full-time employees, an increase from 43 full-time employees as of December 31, 2019[122]. - Total staff costs for the six months ended December 31, 2020, amounted to approximately S$1.4 million, compared to approximately S$1.1 million for the same period in 2019, reflecting a 27% increase[122]. - The Group's total compensation for key management personnel for the six months ended December 31, 2020, was S$415,517, up from S$263,003 for the same period in 2019, representing a growth of approximately 58.1%[84].
HKE HOLDINGS(01726) - 2021 - 中期财报