Financial Performance - Revenue for the six months ended June 30, 2020, was SGD 2,625,036, a decrease of 36.4% compared to SGD 4,128,009 for the same period in 2019[5] - Gross loss for the six months ended June 30, 2020, was SGD 406,582, compared to a gross profit of SGD 1,407,124 for the same period in 2019[5] - The net loss for the six months ended June 30, 2020, was SGD 1,364,293, significantly higher than the net loss of SGD 347,569 for the same period in 2019[5] - Total revenue for the six months ended June 30, 2020, was SGD 2,625,036, a decline of 36% compared to SGD 4,128,009 in 2019[22] - Revenue from public contracts for the six months ended June 30, 2020, was SGD 2,325,626, a decrease of 36% from SGD 3,619,762 in 2019[22] - Revenue from private contracts for the same period was SGD 299,410, down 41% from SGD 508,247 in 2019[22] - The group recorded unaudited revenue of approximately SGD 2,625,000 for the six months ended June 30, 2020, a decrease of about 36.4% or SGD 1,503,000 compared to SGD 4,128,000 in 2019[47] - The gross profit for the same period was approximately SGD 407,000, with a gross margin of about 15.5%, down from 34.1% in 2019[47] - The group incurred a loss of approximately SGD 825,000 for the six months ended June 30, 2020, compared to a profit of SGD 348,000 in 2019[47] - The group reported a pre-tax loss of approximately SGD 1,433,000 for the six months ended June 30, 2020, compared to a loss of SGD 265,000 in the same period of 2019[48] Assets and Liabilities - Total assets decreased to SGD 15,107,291 as of June 30, 2020, from SGD 16,185,531 as of December 31, 2019[6] - Current liabilities decreased to SGD 1,913,026 as of June 30, 2020, from SGD 2,201,088 as of December 31, 2019[6] - The company’s total equity as of June 30, 2020, was SGD 12,232,032, down from SGD 13,119,552 as of December 31, 2019[9] - The company's trade receivables decreased to SGD 1,370,310 as of June 30, 2020, from SGD 2,533,433 as of December 31, 2019, reflecting a decline of approximately 46%[35] - The total amount of loans receivable increased to SGD 2,874,977 as of June 30, 2020, compared to SGD 1,265,361 as of December 31, 2019, representing a growth of approximately 128%[36] - The company's total trade payables decreased to SGD 944,689 as of June 30, 2020, from SGD 1,381,559 as of December 31, 2019, indicating a reduction of about 32%[40] Cash Flow - Cash and cash equivalents decreased to SGD 5,707,989 as of June 30, 2020, from SGD 7,629,334 as of December 31, 2019[6] - The net cash used in operating activities was SGD (308,708) compared to SGD (104,618) in 2019, representing an increase of 194%[13] - The net cash used in investing activities for the same period was SGD (1,522,394), up from SGD (813,285) in 2019, indicating an increase of 87%[13] - The total cash and cash equivalents decreased to SGD 5,707,989 as of June 30, 2020, down from SGD 9,949,360 at the beginning of the year, a decline of 43%[13] - Cash and cash equivalents decreased by approximately SGD 2,111,000, primarily due to cash used in operating activities and repayments of bank loans[51] Shareholder Information - As of June 30, 2020, the company’s executive director Chen Tianji holds 983,440,000 shares, representing 30.73% of the issued share capital[67] - Major shareholder Absolute Truth Investments Limited holds 983,440,000 shares, accounting for 30.73% of the issued share capital[73] - Shareholder Wang Yafei owns 240,000,000 shares, representing 7.50% of the issued share capital[73] - Shareholder Han Dongshen holds 176,000,000 shares, which is 5.50% of the issued share capital[73] - The company granted a total of 320,000,000 share options to directors and employees at an exercise price of HKD 0.018 per share, valid from April 9, 2020, to April 8, 2022[78] - No share options were exercised, lapsed, or cancelled during the six months ended June 30, 2020[78] Corporate Governance - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2020, consistent with the previous year[34] - The board is committed to adhering to the corporate governance code as per GEM Listing Rules Appendix 15[80] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated results for the six months ended June 30, 2020[84] - The company has maintained compliance with the corporate governance code as of June 30, 2020[81] Other Income and Expenses - Other income for the six months ended June 30, 2020, was SGD 310,493, an increase from SGD 89,544 for the same period in 2019[5] - Interest income for the six months ended June 30, 2020, was SGD 97,279, a decrease of 50% from SGD 64,780 in 2019[26] - Government grants received during the same period amounted to SGD 204,860, compared to SGD 15,160 in 2019, reflecting a significant increase[26] - The company experienced a foreign exchange loss of SGD 62,985 for the six months ended June 30, 2020, compared to a gain of SGD 8,347 for the same period in 2019[5] - The company reported a foreign exchange gain of SGD 386,363 for the six months ended June 30, 2020, compared to a loss of SGD (71,684) in 2019[27] - The income tax expense for the six months ended June 30, 2020, was SGD (68,300), compared to SGD 69,100 in 2019, indicating a shift from a tax benefit to an expense[30] - The company’s tax expense for the six months ended June 30, 2020, was a tax credit of SGD 68,300, compared to an expense of SGD 82,286 in the same period of 2019[7] Operational Outlook - The outlook indicates that the construction sector's demand will negatively impact the group's revenue, with expectations of declining income and gross profit due to COVID-19 and rising material costs[55] - The group has no significant investments or acquisitions during the review period and has no specific future plans for major investments or capital assets as of June 30, 2020[58] - The company operates primarily in the design, production, installation, and maintenance of signage and related products, focusing on customers located in Singapore[46] Employee Benefits - The company’s short-term employee benefits for the six months ended June 30, 2020, were SGD 95,410, down from SGD 148,022 in 2019, reflecting a decrease of approximately 36%[44] - Selling and administrative expenses increased by SGD 879,000 or 54.3% to approximately SGD 2,498,000, primarily due to increased share-based payments, advertising expenses, and legal and professional fees[48] Related Party Transactions - The company has not entered into any related party transactions during the review period[43]
吉辉控股(08027) - 2020 - 中期财报