Financial Performance - Revenue for the six months ended June 30, 2021, was SGD 8,306,509, a significant increase of 216% compared to SGD 2,625,036 for the same period in 2020[4] - Gross profit for the six months ended June 30, 2021, was SGD 1,565,641, compared to SGD 406,582 in the same period of 2020, reflecting a gross margin improvement[4] - The company reported a profit before tax of SGD 601,271 for the six months ended June 30, 2021, compared to a loss of SGD 1,432,593 in the same period of 2020[4] - Total comprehensive income for the six months ended June 30, 2021, was SGD 467,651, a recovery from a loss of SGD 1,427,277 in the same period of 2020[4] - The company reported a basic and diluted earnings per share of SGD 0.328 for the six months ended June 30, 2021, compared to a loss per share of SGD 1.066 in the same period of 2020[4] - For the three months ended June 30, 2021, the company reported a profit attributable to owners of SGD 16,481 compared to a loss of SGD 1,340,911 in the same period of 2020[41] - For the six months ended June 30, 2021, the profit attributable to owners was SGD 490,971, a significant improvement from a loss of SGD 1,364,293 in the same period of 2020[41] Assets and Liabilities - Current assets increased to SGD 13,251,110 as of June 30, 2021, compared to SGD 11,104,318 as of December 31, 2020, indicating improved liquidity[6] - The company's total equity as of June 30, 2021, was SGD 13,118,120, up from SGD 10,263,621 as of December 31, 2020, reflecting a strong capital position[9] - The company’s cash and cash equivalents decreased to SGD 2,698,344 as of June 30, 2021, from SGD 3,260,267 as of December 31, 2020[6] - The company’s inventory decreased to SGD 237,620 as of June 30, 2021, from SGD 274,746 as of December 31, 2020, indicating better inventory management[6] - Trade receivables as of June 30, 2021, amounted to SGD 1,516,758, down from SGD 2,012,480 as of December 31, 2020[47] - The company reported total trade and other receivables of SGD 7,859,155 as of June 30, 2021, compared to SGD 7,355,589 as of December 31, 2020[47] - As of June 30, 2021, the company had trade payables of SGD 747,904, a decrease from SGD 1,396,492 as of December 31, 2020[52] - As of June 30, 2021, total borrowings amounted to SGD 2,853,000, down from SGD 3,074,000 as of December 31, 2020[65] - The company’s asset-to-liability ratio was approximately 16.3% as of June 30, 2021, compared to 19.5% at the end of 2020[65] Cash Flow - The net cash used in operating activities for the six months ended June 30, 2021, was SGD (2,716,679), compared to SGD (308,708) in 2020, indicating a significant increase in cash outflow[14] - Cash and cash equivalents decreased by SGD 616,355 during the six months ended June 30, 2021, compared to a decrease of SGD 2,111,475 in 2020[14] - The company’s cash and cash equivalents decreased by approximately SGD 562,000, primarily due to net cash used in operating activities of SGD 2,717,000[65] Revenue Segments - The signage business generated revenue of SGD 4,165,859 for the six months ended June 30, 2021, compared to SGD 2,625,036 in 2020, reflecting a growth of approximately 59%[25] - The renovation and refurbishment services segment reported revenue of SGD 4,140,650 for the six months ended June 30, 2021, with no revenue reported in the same period of 2020[25] - Revenue from the public sector for signage and related products was approximately SGD 3,963,000, a significant increase from SGD 203,000 in 2020[67] - Revenue from renovation and refurbishment services for the six months ended June 30, 2021, was approximately SGD 4,141,000[70] Corporate Actions and Governance - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2021, consistent with the previous year[46] - The company completed a placement of 96,000,000 new ordinary shares at SGD 0.15 per share on May 21, 2021[41] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the six months ended June 30, 2021[99] - The company has not issued, exercised, or canceled any share options under its share option scheme during the six months ended June 30, 2021[97] - The board is committed to adhering to the corporate governance code as per GEM Listing Rules Appendix 15, aiming to enhance internal control systems and create shareholder value[100] - The company has fully complied with the corporate governance code for the six months ending June 30, 2021[101] - The audit committee, established on June 23, 2015, consists of three independent non-executive directors and is responsible for providing independent opinions on financial reporting and internal control effectiveness[105] Future Plans - The company plans to continue expanding its market presence and investing in new product development to drive future growth[4] - The company plans to diversify its business portfolio and expand revenue sources in response to ongoing challenges in the construction industry due to COVID-19[71] - The company plans to utilize the net proceeds of HKD 14.0 million primarily for expanding and operating its renovation services business, with an expected timeline for full utilization by December 31, 2021[81] Employment and Costs - As of June 30, 2021, the company employed a total of 68 staff, down from 75 employees as of December 31, 2020[82] - Total employee costs for the six months ended June 30, 2021, were approximately SGD 1.438 million, compared to SGD 2.035 million for the same period in 2020[82]
吉辉控股(08027) - 2021 - 中期财报