Financial Performance - The group recorded revenue of approximately SGD 7.4 million for the six months ended June 30, 2021, representing an increase of about 32.6% compared to SGD 5.6 million for the same period in 2020[9]. - Gross profit for the period was approximately SGD 4.8 million, up about 20.9% from SGD 4.0 million in the previous year[9]. - Revenue from treatment services saw the highest growth, increasing from approximately SGD 3.6 million to about SGD 5.2 million, a rise of SGD 1.6 million[9]. - The group reported a net loss of approximately SGD 0.6 million for the period, consistent with the net loss of SGD 0.6 million in the same period last year[10]. - The company reported a profit of SGD 65,902 for the fiscal year, but a significant loss of SGD (564,640) was recorded during the six months ended June 30, 2021[15]. - Revenue for the three months ended June 30, 2021, was SGD 3,412,893, a 62.0% increase from SGD 2,107,833 in the same period of 2020[39]. - Revenue for the six months ended June 30, 2021, reached SGD 7,361,976, up 32.5% from SGD 5,553,010 in the same period of 2020[39]. - The company reported a basic loss per share of SGD (0.11) for both the three and six months ended June 30, 2021, compared to SGD (0.13) and SGD (0.11) respectively in 2020[45]. Expenses and Liabilities - Employee benefit expenses increased by SGD 0.3 million due to the rise in the number of treatment centers and efforts to retain and attract staff[10]. - Other operating expenses rose by approximately SGD 0.8 million, driven by increased marketing and treatment center-related costs[10]. - Marketing expenses increased by SGD 0.5 million compared to the previous year, reflecting enhanced promotional efforts[10]. - Total assets decreased from SGD 19,344,264 as of December 31, 2020, to SGD 17,346,366 as of June 30, 2021, representing a decline of approximately 10.3%[13]. - Current liabilities reduced significantly from SGD 4,142,918 as of December 31, 2020, to SGD 2,622,755 as of June 30, 2021, a decrease of about 36.6%[14]. - The company’s total liabilities decreased from SGD 6,087,760 as of December 31, 2020, to SGD 4,650,299 as of June 30, 2021, a decrease of approximately 23.6%[14]. Cash Flow and Assets - The net cash used in operating activities for the six months ended June 30, 2021, was SGD (122,019), an improvement compared to SGD (755,041) for the same period in 2020[16]. - Cash and cash equivalents decreased from SGD 13,068,056 at the beginning of the period to SGD 11,601,873 at the end of the period, a reduction of approximately 11.2%[16]. - The company’s inventory decreased from SGD 883,274 as of December 31, 2020, to SGD 616,164 as of June 30, 2021, a reduction of about 30.2%[13]. - The carrying amount of right-of-use assets as of June 30, 2021, was SGD 2,249,242, down from SGD 2,954,644 as of December 31, 2020[52]. - Cash and cash equivalents decreased to SGD 11.6 million as of June 30, 2021, down from SGD 13.1 million as of December 31, 2020[58]. Corporate Governance and Shareholder Information - The company has adopted and complied with all applicable corporate governance codes as per GEM listing rules during the reporting period[102]. - As of June 30, 2021, the total number of issued shares of the company was 520,000,000[109]. - Dr. Chen Zhi Xian holds 390,000,000 shares, representing 75% of the company's issued shares[109]. - Cher Sen Holdings Limited, wholly owned by Dr. Chen, is the direct shareholder of the company[110]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements and found them compliant with applicable accounting standards[118]. Market Outlook and Strategic Initiatives - The group anticipates uncertainty in the recovery of the primary care market until Singapore reopens its borders[10]. - Management anticipates challenges in business operations due to ongoing COVID-19 restrictions and increased competition in the primary healthcare sector[69]. - The company plans to reshape its existing business model and seek collaborative opportunities to adapt to market changes[69]. - The company has decided not to declare an interim dividend for the current period, consistent with the previous year[64]. Investments and Capital Management - The net proceeds from the share issuance amounted to approximately SGD 9.1 million, with planned uses including expanding the DTAP treatment center network and enhancing IT infrastructure[94]. - The company has not recognized any overseas profits tax for entities registered in the British Virgin Islands or the Cayman Islands due to tax exemptions[41]. - The company has incurred about SGD 1,051,000 for renovations and fixed asset purchases for the new DTAP treatment center located in Jurong as of June 30, 2021[99]. - The company has spent approximately SGD 1,028,000 on renovations and fixed asset purchases for the new SA treatment center in Jurong as of June 30, 2021[99]. - The company has invested around SGD 383,000 to upgrade existing information technology infrastructure and systems as of June 30, 2021[100].
REPUBLIC HC(08357) - 2021 - 中期财报