Financial Performance - Revenue for the six months ended June 30, 2020, was RM 58,573,000, a decrease of 1.05% compared to RM 59,192,000 in the same period of 2019[50] - Gross profit for the same period was RM 13,256,000, down 9.0% from RM 14,565,000 year-on-year[50] - The company reported a net profit attributable to equity holders of RM 2,828,000, a decline of 55.8% from RM 6,393,000 in the previous year[50] - Basic and diluted earnings per share were 0.69 sen, compared to 1.70 sen in the same period last year, reflecting a decrease of 59.4%[50] - The company experienced a decrease in pre-tax profit, reporting 5,138 thousand MYR for the six months ended June 30, 2020, compared to 8,913 thousand MYR in the prior year, representing a decline of approximately 42%[60] - The pre-tax profit for the six months ended June 30, 2020, was 2,828,000 MYR, a decrease of 56% from 6,393,000 MYR in the same period of 2019[98] - Profit attributable to equity holders was approximately 2.8 million MYR for the six months ended June 30, 2020, a decrease of about 55.8% from approximately 6.4 million MYR in the same period of 2019, primarily due to listing expenses[164] Assets and Liabilities - Total assets as of June 30, 2020, amounted to RM 138,425,000, an increase from RM 84,875,000 at the end of 2019[53] - The total equity of the company increased to RM 137,726,000 from RM 84,235,000, reflecting a growth of 63.5%[53] - Trade and other receivables decreased to RM 30,623,000 from RM 38,528,000, a decline of 20.5%[53] - Trade receivables from third parties as of June 30, 2020, were 29,070,000 MYR, down from 36,883,000 MYR as of December 31, 2019[109] - Trade payables to third parties decreased to MYR 6,450,000 as of June 30, 2020, down from MYR 7,317,000 as of December 31, 2019, indicating a reduction of approximately 11.87%[116] - Other payables, including accrued expenses, totaled MYR 7,395,000 as of June 30, 2020, compared to MYR 8,979,000 as of December 31, 2019, representing a decrease of about 17.63%[116] Cash Flow - The company’s cash and cash equivalents increased significantly to RM 36,864,000 from RM 6,482,000 at the end of 2019[53] - The company’s operating cash flow before working capital changes was 4,647 thousand MYR, down from 9,570 thousand MYR in the previous year, reflecting a decrease of approximately 51%[60] - The net cash generated from operating activities was 2,477 thousand MYR, a turnaround from a cash outflow of 1,698 thousand MYR in the same period last year[60] - The total cash and cash equivalents at the end of the reporting period was 36,864 thousand MYR, a decrease from 6,222 thousand MYR at the beginning of the period[64] - The company’s investment activities resulted in a net cash outflow of 22,017 thousand MYR, compared to a cash inflow of 1,471 thousand MYR in the previous year[60] - The company’s financing activities generated a net cash inflow of 49,922 thousand MYR, contrasting with a cash outflow of 1,220 thousand MYR in the same period last year[64] Revenue Segmentation - Revenue from animal feed additives was RM 51,394,000, while revenue from human food ingredients was RM 7,179,000 for the six months ended June 30, 2020[79] - The segment performance for animal feed additives showed a profit of RM 10,781,000, while human food ingredients reported a profit of RM 1,194,000 for the six months ended June 30, 2020[79] - Manufacturing segment revenue for the same period was approximately 21.5 million MYR, accounting for about 36.8% of total revenue, a decrease of approximately 1.8 million MYR or 7.5% from 23.3 million MYR in 2019[154] - Distribution segment revenue increased to approximately 37.1 million MYR, representing about 63.2% of total revenue, an increase of approximately 1.2 million MYR or 3.1% from 35.9 million MYR in 2019[154] Expenses - The company incurred listing expenses of RM 4,291,000, significantly higher than RM 1,147,000 in the previous year[50] - The company’s administrative and other operating expenses totaled RM 3,860,000 for the six months ended June 30, 2020[79] - Employee costs, including directors' remuneration, were approximately 2.8 million MYR for the six months ended June 30, 2020, compared to approximately 2.9 million MYR for the same period in 2019[182] - Sales and distribution costs remained stable at approximately 1.1 million MYR for the six months ended June 30, 2020, compared to the same period in 2019[158] - Administrative and other operating expenses were stable at approximately 3.9 million MYR for the six months ended June 30, 2020, compared to the same period in 2019[159] Future Outlook and Plans - The company is actively seeking potential acquisition targets to identify new growth and expansion opportunities[153] - The company remains cautiously optimistic about its operations despite the negative impact of the COVID-19 pandemic on the Malaysian economy[153] - The company believes that the impact of the pandemic on its operations will be minimal if the Malaysian government does not extend the movement control order[153] - The company plans to utilize approximately HKD 68.8 million from unutilized funds as of June 30, 2020, primarily affected by the Malaysian government's movement control order[185] - The company is constructing a new production facility with an investment of HKD 42.1 million, expected to be completed by June 30, 2021[184] Shareholder Information - The company holds a significant ownership structure, with Garry-Worth owning 67.5% of the issued share capital[192] - The company’s major shareholders include Lee Haw Yih and related parties, collectively controlling 337,500,000 shares, representing 67.5% of the total issued capital[192] - As of June 30, 2020, the company has not received any disclosures regarding shareholdings from other individuals, excluding directors or senior executives[198] - The company adopted a share option plan approved by all shareholders on April 8, 2020, with no options granted or exercised as of June 30, 2020[199]
利特米(01936) - 2020 - 中期财报