Financial Performance - Revenue for the six months ended June 30, 2021, was SGD 21,425,543, an increase of 9% from SGD 19,656,168 in the same period of 2020[12] - Gross profit decreased to SGD 6,579,218, down 7% from SGD 7,098,830 year-on-year[12] - The net profit for the period was SGD 1,145,761, a decline of 59% compared to SGD 2,773,780 in the previous year[12] - Basic and diluted earnings per share were SGD 0.09, down from SGD 0.27 in the same period last year[12] - Total revenue for the six months ended June 30, 2021, was SGD 21,425,543, compared to SGD 19,656,168 for the same period in 2020, reflecting an overall growth of approximately 9.0%[50] - Profit for the period decreased from approximately SGD 2.8 million to about SGD 1.1 million, resulting in a net profit margin decline from approximately 14.2% to 5.1%[163] Assets and Liabilities - Total assets as of June 30, 2021, increased to SGD 37,340,439, compared to SGD 25,116,126 as of December 31, 2020[15] - Current liabilities decreased to SGD 7,505,757 from SGD 8,286,311 at the end of 2020[15] - Net assets rose to SGD 38,975,098, up from SGD 25,080,074 at the end of 2020, reflecting a significant increase in equity[18] - The company reported a significant increase in cash and cash equivalents, reaching SGD 22,683,278, compared to SGD 12,740,393 at the end of 2020[15] - Trade payables rose to SGD 1,428,944 as of June 30, 2021, up from SGD 955,697 as of December 31, 2020, indicating a growth of 49.5%[116] - Bank loans decreased to SGD 603,367 as of June 30, 2021, from SGD 1,096,521 as of December 31, 2020, reflecting a reduction of 45%[124] Cash Flow and Financing - The operating cash flow for the six months ended June 30, 2021, was SGD 2,130,151, down 51% from SGD 4,344,787 in the previous year[31] - The company generated net cash from financing activities of SGD 8,234,071, compared to a net outflow of SGD 2,893,399 in the same period of 2020[33] - Total cash and cash equivalents at the end of the period increased to SGD 22,683,278, up from SGD 12,496,719 a year earlier, representing an increase of 81%[33] - The company issued shares resulting in proceeds of SGD 12,749,263 during the reporting period[33] Revenue Breakdown - Revenue from truck transportation services decreased to SGD 8,750,185 from SGD 10,375,009, a decline of approximately 15.6% year-over-year[50] - Revenue from freight forwarding services increased to SGD 10,204,942 from SGD 7,464,711, representing a growth of approximately 36.9% year-over-year[50] - Revenue from value-added transportation services rose to SGD 2,470,416 from SGD 1,816,448, an increase of approximately 36.0% year-over-year[50] Expenses - Administrative expenses increased to SGD 4,628,575, up from SGD 3,904,240 in the previous year, reflecting higher operational costs[12] - The total employee costs, including directors' remuneration, amounted to SGD 4,985,694, an increase of 13% from SGD 4,411,891 in the previous year[63] - The company reported a total tax expense of SGD 420,492, down 33.1% from SGD 628,920 in the previous year[64] Corporate Governance - The company has adopted a code of conduct for securities trading by directors, which has been complied with since the IPO date[183] - The company has complied with the corporate governance code except for the separation of the roles of Chairman and CEO, which are held by the same individual, Mr. Huang Chun-Hsing[184] - The board consists of two executive directors and three independent non-executive directors as of the announcement date[196] Strategic Focus - The company is focused on expanding its logistics and transportation services through its subsidiaries, which include Rejoice Container Services and Radiant Overseas[36] - The company aims to leverage its successful listing to enhance future growth opportunities[146] Market Conditions - Truck transportation service revenue decreased by approximately SGD 1.7 million or 16.3% due to border restrictions imposed by the Singapore government to control COVID-19[151] - Freight forwarding service revenue increased by approximately SGD 2.7 million or 36.0% due to the recovery of global trade from COVID-19[152] - Value-added transportation service revenue increased by approximately SGD 0.7 million or 38.9% due to income from a newly leased logistics yard[153]
LEGION CONSO(02129) - 2021 - 中期财报