Financial Performance - Total revenue for the first half of 2019 was SGD 122.8 million, showing a decrease from SGD 129.0 million in the first half of 2018, representing a decline of approximately 1.7%[14] - Gross profit for the first half of 2019 was SGD 26.2 million, compared to SGD 14.5 million in the same period of 2018, indicating a significant increase of 81.2%[14] - Total revenue for the six months ended June 30, 2019, was approximately SGD 26.2 million, a decrease of about 66.8% from SGD 78.7 million for the same period in 2018[27] - Revenue from the Electronics Manufacturing Services segment was SGD 23.6 million, down 67.3% from SGD 72.3 million in the previous year[27] - Revenue from the Original Design Manufacturing segment decreased by 60.2% to SGD 2.5 million from SGD 6.3 million[27] - Gross profit fell to approximately SGD 2.5 million, down from SGD 14.5 million, resulting in a gross margin of 9.5%, a decrease of 9.0 percentage points from 18.5%[30] - The group recorded a pre-tax loss of approximately SGD 2.6 million for the six months ended June 30, 2019, compared to a pre-tax profit of SGD 6.9 million in the same period of 2018[37] - The net loss for the period was SGD 2,447 thousand, contrasting with a profit of SGD 5,176 thousand in 2018, marking a decline of approximately 147.2%[97] - Basic and diluted earnings per share for the period were SGD (0.28 cents), compared to SGD 0.82 cents in the prior year, indicating a substantial decrease[97] Assets and Liabilities - Total assets as of the first half of 2019 amounted to SGD 124.5 million, up from SGD 99.3 million in the first half of 2018, reflecting a growth of 25.4%[19] - Total liabilities for the first half of 2019 were SGD 89.4 million, compared to SGD 70.3 million in the first half of 2018, which is an increase of 27.2%[19] - Total equity for the first half of 2019 reached SGD 35.1 million, up from SGD 29.0 million in the first half of 2018, marking an increase of 20.7%[19] - The net current assets decreased from approximately SGD 74.5 million as of December 31, 2018, to SGD 69.0 million as of June 30, 2019, a reduction of about SGD 5.5 million[47] - Financial liabilities decreased to SGD 53,016,000 from SGD 62,668,000, indicating a reduction of about 15%[174] - Trade payables were reported at SGD 10,518,000, down from SGD 14,915,000, reflecting a decrease of approximately 29%[174] Cash Flow and Investments - Cash and cash equivalents as of June 30, 2019, were approximately SGD 38.8 million, indicating a solid financial position[42] - Operating cash flow for the six months ended June 30, 2019, was a net outflow of SGD 1.9 million, compared to a net inflow of SGD 12.4 million in the previous year[42] - The net cash used in operating activities for the six months ended June 30, 2019, was approximately SGD 1.9 million, reflecting a cash flow of about SGD 1.6 million before changes in working capital[43] - The net cash used in investing activities for the same period was approximately SGD 0.7 million, primarily for the acquisition of property, plant, and equipment amounting to SGD 0.3 million[44] - The net cash used in financing activities was approximately SGD 2.2 million, mainly for lease liabilities of about SGD 0.5 million and special dividends of approximately SGD 1.7 million[46] - The group has ongoing investments in property, plant, and equipment, with cash outflows of SGD 351,000 for the six months ended June 30, 2019[104] Corporate Strategy and Outlook - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development[12] - Future outlook indicates a commitment to improving operational efficiency and exploring potential mergers and acquisitions to drive growth[12] - The company plans to invest in research and development to innovate new products and technologies in the electronic manufacturing services sector[12] - Kinergy Corporation aims to strengthen its competitive position in the semiconductor processing equipment market through strategic initiatives[12] - The semiconductor market is expected to recover once trade tensions ease and inventory levels normalize, providing future growth opportunities for the group[24] - The group is actively exploring new business opportunities and potential clients amid the challenging trade environment[23] Governance and Compliance - The board emphasizes the importance of corporate governance and compliance with listing rules to maintain investor confidence[12] - The group has complied with all provisions of the corporate governance code[70] - The group has adopted the standard code of conduct for securities trading for directors and relevant employees[71] - The interim condensed consolidated financial statements for the six months ended June 30, 2019, were reviewed by the audit committee, composed solely of independent non-executive directors[74] Employee and Shareholder Information - The group employed 480 staff members as of June 30, 2019, with employee benefits expenses amounting to approximately SGD 7.4 million for the six months ended June 30, 2019[64] - Major shareholders include Mr. Lin Guocai with a beneficial interest of 31.28% and Mr. Bradley Fraser Kerr with 8.91%[78] - The group’s short-term employee benefits for key management personnel increased to SGD 1,264,000 for the six months ended June 30, 2019, up 49.2% from SGD 847,000 for the same period in 2018[171] Dividends and Earnings - The board did not recommend any interim dividend for the six months ended June 30, 2019, aside from a special dividend paid on June 10, 2019[68] - The total dividend declared for the period was SGD 1,717,000, with a special exempt (one-tier) dividend of 0.2 Singapore cents per share[143]
精技集团(03302) - 2019 - 中期财报