Financial Performance - Revenue for the three months ended December 31, 2020, was SGD 3,532,502, representing a 94.5% increase from SGD 1,815,668 in the same period of 2019[5]. - Gross profit for the six months ended December 31, 2020, was SGD 1,418,331, a slight decrease of 3.8% compared to SGD 1,474,685 for the same period in 2019[5]. - The company reported a net profit of SGD 106,740 for the three months ended December 31, 2020, compared to a net loss of SGD 171,649 in the same period of 2019[5]. - Other income for the six months ended December 31, 2020, was SGD 248,436, significantly higher than SGD 52,456 in the same period of 2019[5]. - The total comprehensive income for the three months ended December 31, 2020, was SGD 114,406, recovering from a loss of SGD 171,597 in the same period of 2019[9]. - The company recorded a net cash inflow from operating activities of SGD 347,798 for the six months ended December 31, 2020, compared to a net outflow of SGD 30,680 for the same period in 2019[40]. - The company recorded a net profit of approximately SGD 58,000 for the six months ended December 31, 2020, compared to approximately SGD 64,000 for the same period in 2019, representing a decrease of about 9.4%[162]. - The group recorded a net loss attributable to owners of approximately SGD 43,000 for the period, compared to a profit of about SGD 58,000 in the same period of 2019, primarily due to increased administrative costs and reduced gross profit in the audio and communication systems segment[186]. Assets and Liabilities - Total assets increased to SGD 22,557,368 as of December 31, 2020, up from SGD 17,251,173 as of June 30, 2020[24]. - Current liabilities totaled SGD 6,346,524, significantly higher than SGD 1,051,057 reported on June 30, 2020, indicating a substantial increase in short-term obligations[26]. - The total equity as of December 31, 2020, was SGD 15,023,789, up from SGD 14,906,471 as of June 30, 2020, showing a modest increase of approximately 0.8%[26]. - The company’s trade and other payables increased to SGD 5,946,866 as of December 31, 2020, compared to SGD 548,673 as of June 30, 2020, indicating a significant rise in liabilities[26]. - The group’s trade payables were SGD 5,691,042 as of December 31, 2020, significantly higher than SGD 91,311 as of June 30, 2020[118]. - The company’s cash and cash equivalents stood at SGD 9,843,971 as of December 31, 2020, down from SGD 10,022,877 as of June 30, 2020[24]. Revenue Breakdown - Total revenue for the six months ended December 31, 2020, was SGD 4,581,675, representing an increase of 16.7% compared to SGD 3,925,884 for the same period in 2019[50]. - Revenue from audio and communication system sales and related services was SGD 1,846,451 for the six months ended December 31, 2020, compared to SGD 2,954,620 in the same period of 2019, indicating a decline of 37.5%[50]. - E-commerce revenue reached SGD 2,187,452 for the six months ended December 31, 2020, with no revenue reported in the same period of 2019, marking a significant growth[50]. - Revenue from alarm system services remained stable at SGD 437,772 for both the six months ended December 31, 2020, and 2019[50]. - Revenue from external customers in Singapore decreased to SGD 2,394,223 for the year 2020 from SGD 3,925,884 in 2019, a decline of 39.1%[56]. Expenses and Costs - Administrative expenses increased to SGD 1,450,612 for the six months ended December 31, 2020, compared to SGD 1,366,800 for the same period in 2019[5]. - Total employee costs, including directors' remuneration, amounted to 766,400 SGD, down from 897,277 SGD year-on-year, representing a decrease of approximately 14.6%[72]. - The total cost of materials recognized as cost of sales/services was 2,150,627 SGD, a significant increase from 485,385 SGD year-on-year[71]. - Administrative costs related to the new e-commerce division in China increased from approximately SGD 1.4 million to about SGD 1.5 million, an increase of approximately SGD 84,000 or 6.1%[162]. Cash Flow and Investments - The company’s cash flow from investing activities showed a net outflow of SGD 236,912 for the six months ended December 31, 2020, compared to SGD 25,692 in the previous period, indicating increased investment activity[40]. - The company acquired equipment worth approximately 48,342 SGD during the reporting period, compared to 25,692 SGD in the same period last year[81]. - The company has utilized HKD 10.0 million to repay part of its bank loans, achieving a 100.0% utilization rate[189]. Market and Strategic Initiatives - The company is focused on expanding its e-commerce services, which have shown significant growth potential in the current market[50]. - The company is exploring new opportunities in the online retail space, particularly in response to changing consumer habits during the COVID-19 pandemic[168]. - The company plans to diversify its service offerings to include e-commerce brands attractive to Chinese consumers[169]. - The company is continuously assessing the feasibility of business expansion opportunities in China and Southeast Asia[165]. - The company has implemented emergency plans and optimized its cost structure to maintain customer relationships during the pandemic[165]. - The company aims to enhance operational efficiency and profitability amid the challenges posed by the COVID-19 pandemic[163]. Compliance and Reporting - The company has been applying the International Financial Reporting Standards since the fiscal year starting July 1, 2020[46]. - The effective tax rate for Singapore corporate tax was maintained at 17%[74]. - The company recorded a deferred tax expense of (13,808) SGD for the three months ended December 31, 2020, compared to (18,109) SGD in the same period last year[74].
ISP GLOBAL(08487) - 2021 - 中期财报