Revenue Performance - Revenue for the three months ended June 30, 2021, was SGD 6,493,295, a significant increase from SGD 358,452 in the same period of 2020, representing a growth of approximately 1,711%[8] - Revenue for the six months ended June 30, 2021, reached SGD 13,953,017, compared to SGD 3,297,019 for the same period in 2020, indicating a growth of about 323%[8] - For the six months ended June 30, 2021, the total revenue from steel structure services was SGD 13,953,017, a significant increase from SGD 3,297,019 for the same period in 2020, representing a growth of approximately 323%[22] - The company’s revenue from Singapore for the six months ended June 30, 2021, was SGD 13,953,017, compared to SGD 3,297,019 for the same period in 2020, demonstrating strong growth in the domestic market[24] - As of June 30, 2021, the group recorded unaudited revenue of approximately SGD 13,953,000, compared to SGD 3,297,000 in 2020, indicating a significant increase[60] - For the six months ended June 30, 2021, the group's revenue was approximately SGD 13,953,000, compared to SGD 3,297,000 for the same period in 2020, representing a significant increase[83] Profit and Loss - The gross loss for the three months ended June 30, 2021, was SGD 240,386, an improvement from a gross loss of SGD 338,159 in the same period of 2020[8] - The net loss for the six months ended June 30, 2021, was SGD 2,099,535, compared to a net loss of SGD 1,717,612 for the same period in 2020, reflecting a deterioration in performance[8] - The total comprehensive expenses for the six months ended June 30, 2021, amounted to SGD (2,108,184), compared to SGD (1,710,147) for the same period in 2020, reflecting an increase in expenses[12] - The company reported a pre-tax loss of SGD 1,356,961 for the three months ended June 30, 2021, compared to a loss of SGD 1,194,798 for the same period in 2020[30] - The group reported a loss of approximately SGD 2,100,000 for the six months ended June 30, 2021, compared to a loss of SGD 1,718,000 in 2020, reflecting an increase in loss of about SGD 382,000[60][63] - The group reported a loss of approximately SGD 2,100,000 for the six months ended June 30, 2021, an increase of about SGD 382,000 compared to a loss of SGD 1,718,000 in 2020[83] Cash Flow and Liquidity - The net cash used in operating activities for the six months ended June 30, 2021, was SGD (744,402), compared to a net cash inflow of SGD 1,907,456 for the same period in 2020, indicating a decline in cash flow from operations[14] - The cash and cash equivalents at the end of the period were SGD 3,382,804, down from SGD 2,005,561 at the end of June 30, 2020, showing a decrease in liquidity[14] - Cash and cash equivalents were approximately SGD 3,383,000 as of June 30, 2021, compared to SGD 7,555,000 as of December 31, 2020[64] Assets and Liabilities - Trade receivables increased to SGD 7,082,173 as of June 30, 2021, from SGD 5,155,488 as of December 31, 2020, showing a growth of approximately 37%[10] - Total assets decreased to SGD 26,776,118 as of June 30, 2021, from SGD 32,952,892 as of December 31, 2020, a decline of about 19%[10] - The company's net asset value as of June 30, 2021, was SGD 25,336,657, down from SGD 27,444,841 as of December 31, 2020, indicating a decrease of approximately 8%[11] - The total liabilities decreased to SGD 3,368,888 as of June 30, 2021, from SGD 6,085,655 as of December 31, 2020, reflecting a reduction of approximately 45%[11] - The group's current assets net value was approximately SGD 21,146,000 as of June 30, 2021, down from SGD 25,508,000 as of December 31, 2020[64] - Trade payables as of June 30, 2021, were SGD 3,681,807, a decrease from SGD 3,966,229 as of December 31, 2020[55] Employee Costs - Total employee costs for the six months ended June 30, 2021, amounted to SGD 2,103,519, significantly higher than SGD 1,413,104 for the same period in 2020, reflecting an increase of approximately 48.8%[30] - Total employee costs for the six months ended June 30, 2021, were approximately SGD 2,104,000, compared to SGD 1,413,000 in 2020[72] Government Support - The company received government subsidies of SGD 194,188 during the six months ended June 30, 2021, compared to SGD 115,293 for the same period in 2020, indicating increased support during the COVID-19 pandemic[26] Shareholder Information - The company did not recommend any dividend for the six months ended June 30, 2021, consistent with the previous year[33] - As of June 30, 2021, Mr. Wang Qingyou holds a 69.12% stake in the company through Broadbville Limited, which he fully owns[91] Future Outlook - The construction demand in Singapore is projected to range between SGD 23 billion and SGD 28 billion for 2021, showing a slight improvement despite not returning to pre-COVID levels[87] - Construction output is expected to increase from SGD 19.5 billion last year to approximately SGD 24 billion to SGD 27 billion in 2021, primarily due to project backlog caused by the pandemic[89] - New project bidding prices are anticipated to rise by approximately 6% to 10%, driven by labor shortages and increased costs of key construction materials[89] - The company aims to enhance its market position in the Singapore steel structure industry by increasing capacity and hiring more staff[89] Corporate Governance - The audit committee was established on June 21, 2017, consisting of three independent non-executive directors[106] - The audit committee reviewed the unaudited performance for the six months ended June 30, 2021, and provided opinions on it[107] - The board of directors includes two executive directors, one non-executive director, and three independent non-executive directors[108]
高原之宝(08402) - 2021 - 中期财报