Financial Performance - Revenue for the six months ended June 30, 2021, increased by approximately 22.5% to MYR 51,673,000 compared to MYR 42,174,000 for the same period in 2020[28] - Gross profit for the same period rose by approximately 9.5% to MYR 12,450,000, with a gross margin of 24.1%, down from 27.0% in the previous year[28] - The company reported a profit attributable to owners of the company of MYR 2,723,000, a significant recovery from a loss of MYR 4,155,000 in the prior year[28] - Sales of printable apparel increased by approximately 23.8% to MYR 44,800,000, driven by a volume increase from approximately 3,200,000 units to 4,100,000 units[34] - Revenue from gift products grew by approximately 16.9% to MYR 6,900,000, with sales volume rising from approximately 1,900,000 units to 2,000,000 units[35] - Other income surged by approximately 109.1% to MYR 2,300,000, primarily due to increases in interest income and inventory write-back[36] - The company recorded a profit attributable to owners of approximately 2,700,000 MYR, compared to a loss of approximately 4,200,000 MYR in the same period last year, resulting in a net profit margin of about 5.2% compared to a net loss margin of about 10.0% in the previous year[42] - For the six months ended June 30, 2021, the company reported a pre-tax profit of 4,381,000 MYR, compared to a loss of 3,871,000 MYR in the same period of 2020, indicating a significant turnaround in performance[129] Expenses and Costs - Sales and distribution expenses remained stable at approximately MYR 2,900,000 for both the current and prior periods[37] - Administrative and other operating expenses decreased by approximately 300,000 MYR or 3.8% to about 7,500,000 MYR compared to approximately 7,800,000 MYR in the same period last year, mainly due to a reduction in employee costs from a decrease in headcount[38] - Financing costs decreased by approximately 15,000 MYR or 37.5% to about 25,000 MYR from approximately 40,000 MYR in the same period last year, primarily due to a reduction in interest-bearing borrowings and actual interest rates[40] - Income tax expenses increased by approximately 1,200,000 MYR or 240.0% to about 1,700,000 MYR from approximately 500,000 MYR in the same period last year, mainly due to an increase in profit before tax[41] Assets and Liabilities - As of June 30, 2021, the group's current assets net value was approximately 118,200,000 MYR, with cash and cash equivalents of about 67,100,000 MYR[51] - The group’s gearing ratio was approximately 5.3% as of June 30, 2021, down from 6.3% as of December 31, 2020, due to repayment of borrowings and an increase in equity base[52] - Current assets totaled RM 125,477 thousand, slightly down from RM 126,240 thousand as of December 31, 2020[79] - Total liabilities decreased to RM 13,968 thousand from RM 14,666 thousand, showing improved financial stability[79] - The company's equity increased to RM 147,836 thousand from RM 146,223 thousand, reflecting a solid capital position[79] Cash Flow and Financing - Operating cash flow before changes in working capital was RM 3,113,000, compared to a negative cash flow of RM 1,622,000 in the prior year, indicating a turnaround in operational efficiency[85] - The net cash generated from operating activities was RM 2,025,000, a recovery from a net cash outflow of RM 7,805,000 in the previous year[85] - The company experienced a net increase in cash and cash equivalents of RM 1,057,000, contrasting with a decrease of RM 8,735,000 in the same period of 2020[88] - The company has a total available bank financing of approximately 24,800,000 MYR, of which about 7,300,000 MYR has been utilized[51] Corporate Governance - The company has adopted the standards of the Hong Kong Stock Exchange for securities trading, confirming compliance as of June 30, 2021[60] - The board believes that good corporate governance is crucial for the group's sustainable development, and compliance with the corporate governance code has been maintained[61] - The audit committee, consisting of three independent non-executive directors, has reviewed the group's unaudited consolidated performance for the period[64] Shareholder Information - As of June 30, 2021, the directors and the CEO collectively hold 471,000,000 shares, representing 75.0% of the company's equity[65] - MBV Capital Limited, which holds 471,000,000 shares (75.0%), is controlled by the directors, each owning approximately 33.3% of its issued share capital[66] - The board does not recommend the payment of an interim dividend for the period[72] Future Outlook - The company anticipates continued adverse effects on performance due to ongoing COVID-19 measures in Malaysia and Singapore[31] - The economic outlook for the second half of 2021 remains uncertain, prompting the company to focus on operational efficiency[31] Significant Events - There have been no significant events after June 30, 2021, up to the date of this report[73] - The company plans to extend the timeline for the use of unutilized proceeds from its IPO to the end of the 2023 fiscal year to enhance future development flexibility[48]
大人国际(01957) - 2021 - 中期财报