Financial Performance - Revenue for the six months ended June 30, 2020, was SGD 3,297,019, a decrease of 88.0% compared to SGD 28,513,524 for the same period in 2019[11] - Gross loss for the six months ended June 30, 2020, was SGD 367,097, compared to a gross profit of SGD 6,685,272 for the same period in 2019[11] - The company reported a net loss of SGD 1,717,612 for the six months ended June 30, 2020, compared to a profit of SGD 3,594,190 for the same period in 2019[11] - The total comprehensive income for the six months ended June 30, 2020, was SGD 3,594,190, compared to SGD 16,652,528 for the same period in 2019, representing a decrease of approximately 78.4%[30] - For the six months ended June 30, 2020, the company reported a loss attributable to owners of SGD 1,717,612, compared to a profit of SGD 3,594,190 for the same period in 2019[65] - The basic loss per share for the six months ended June 30, 2020, was SGD (0.36), compared to SGD 0.75 for the same period in 2019[65] - The group reported a loss before tax for the six months ended June 30, 2020, primarily due to the impact of COVID-19 on operations and project delays[58] Assets and Liabilities - Total assets as of June 30, 2020, were SGD 32,997,440, down from SGD 39,449,933 as of December 31, 2019, representing a decrease of 16.4%[12] - Current liabilities decreased to SGD 9,397,796 as of June 30, 2020, from SGD 14,594,393 as of December 31, 2019, a reduction of 35.5%[12] - Trade receivables as of June 30, 2020, were SGD 19,047,341, down from SGD 20,943,010 as of December 31, 2019, indicating a decrease of 9.0%[12] - Non-current assets decreased to SGD 7,730,530 as of June 30, 2020, from SGD 8,388,966 as of December 31, 2019, a decline of 7.8%[12] - The company reported a total equity of SGD 29,109,452 as of June 30, 2020, compared to SGD 29,093,158 as of June 30, 2019, showing a slight increase[30] - The company's current assets net value was approximately SGD 23.600 million as of June 30, 2020, compared to SGD 24.856 million on December 31, 2019[105] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2020, was SGD 1,907,456, a significant improvement from a net cash used of SGD (4,347,310) in the same period of 2019[32] - The total cash and cash equivalents at the end of June 30, 2020, amounted to SGD 2,005,561, compared to SGD 6,856,970 at the end of June 30, 2019, indicating a decrease of approximately 70.8%[32] - The company’s cash flow from investing activities for the six months ended June 30, 2020, was SGD (190,938), an improvement from SGD (3,636,034) in the same period of 2019[32] - Cash and cash equivalents amounted to approximately SGD 2.006 million as of June 30, 2020, compared to SGD 1.870 million on December 31, 2019[105] Operational Impact - The company suspended operations from April 7 to June 1, 2020, due to COVID-19, significantly impacting its business and financial performance[125] - The company anticipates that the collection of receivables from major customers will slow down due to COVID-19 related disruptions[76] - The group received government subsidies of SGD 115,293 during the six months ended June 30, 2020, as part of the employment support scheme due to COVID-19[51] Employee Costs - The group reported a total employee cost of SGD 1,413,104 for the six months ended June 30, 2020, down from SGD 2,320,672 in the same period of 2019, a decrease of about 39%[58] - The total employee cost for the six months ended June 30, 2020, was approximately SGD 1.413 million, a decrease from SGD 2.321 million in 2019[115] - The company reported short-term employee benefits of SGD 294,772 for the six months ended June 30, 2020, compared to SGD 372,286 for the same period in 2019[67] Strategic Decisions - The company has not provided specific guidance for future performance or new product developments in the report[11] - The company has decided not to proceed with the proposed transfer listing on the main board of the stock exchange as of July 13, 2020[55] - The company’s strategy includes expanding capacity and hiring personnel to meet higher demand in the construction sector[123] - The company will continue to manage expenses prudently and review business strategies to identify opportunities moving forward[126] Compliance and Governance - The company has adopted a code of conduct for securities trading by directors, compliant with GEM Listing Rules[138] - The company has maintained compliance with corporate governance codes during the reporting period[139] - The audit committee reviewed the unaudited results for the six months ended June 30, 2020[147] Market Conditions - The construction industry in Singapore is expected to see total construction demand increase to SGD 35 billion by 2023, despite the challenges posed by COVID-19[129] - The company plans to enhance and solidify its market position in the Singapore steel structure industry by increasing capacity and hiring more staff[123]
高原之宝(08402) - 2020 - 中期财报