Financial Performance - For the three months ended June 30, 2019, the revenue was SGD 5,576,000, a decrease of 11.1% compared to SGD 6,271,000 for the same period in 2018[5] - The gross profit for the six months ended June 30, 2019, was SGD 2,895,000, down 11.3% from SGD 3,264,000 in the previous year[5] - The net loss attributable to owners for the six months ended June 30, 2019, was SGD 457,000, compared to a profit of SGD 138,000 in the same period of 2018[5] - Revenue for the six months ended June 30, 2019, was SGD 11,278,000, down 10.7% from SGD 12,630,000 in the same period of 2018[33] - For the three months ended June 30, 2019, the company reported a loss attributable to owners of the company of SGD 504,000, compared to a profit of SGD 89,000 for the same period in 2018[41] - Overall gross profit decreased by approximately SGD 0.4 million or about 11.3%, from approximately SGD 3.3 million to approximately SGD 2.9 million, with gross profit margins remaining stable at 25.8% and 25.7% respectively[65] Assets and Liabilities - Total assets as of June 30, 2019, were SGD 29,071,000, an increase from SGD 28,232,000 as of December 31, 2018[8] - Current liabilities decreased to SGD 3,989,000 from SGD 4,525,000 as of December 31, 2018, indicating improved liquidity[8] - Non-current assets increased to SGD 18,273,000 as of June 30, 2019, from SGD 16,446,000 as of December 31, 2018[7] - The total equity attributable to owners decreased to SGD 17,150,000 as of June 30, 2019, from SGD 17,607,000 as of December 31, 2018[8] - The total bank borrowings as of June 30, 2019, were SGD 10,745,000, a decrease from SGD 11,072,000 as of December 31, 2018[49] - The company's debt-to-equity ratio as of June 30, 2019, was approximately 73.2%, up from 63.4% on December 31, 2018[74] Cash Flow and Expenses - Operating cash flow for the six months ended June 30, 2019, was SGD 456,000, a decrease of 48.7% compared to SGD 891,000 in 2018[12] - The company reported a loss before tax of SGD 416,000 for the six months ended June 30, 2019, compared to a profit of SGD 236,000 in 2018[12] - The company experienced a significant increase in administrative and other operating expenses, which rose to SGD 2,244,000 for the six months ended June 30, 2019, compared to SGD 1,779,000 in the previous year[5] - The company incurred interest expenses of SGD 208,000 for the six months ended June 30, 2019, compared to SGD 125,000 for the same period in 2018, reflecting a significant increase of 66.4%[36] - Selling and distribution costs decreased by approximately SGD 0.7 million or about 40.0%, from approximately SGD 1.6 million to approximately SGD 0.9 million, mainly due to reduced employee benefits and warehouse rental costs[66] - Administrative and other operating expenses increased by approximately SGD 0.4 million or about 26.1%, from approximately SGD 1.8 million to approximately SGD 2.2 million, primarily due to increased depreciation and other administrative costs[68] Investments and Capital Expenditures - Net cash used in investing activities was SGD 546,000, significantly lower than SGD 10,242,000 in the previous year, indicating a reduction in capital expenditures[13] - The company acquired property, plant, and equipment at a total cost of approximately SGD 0.6 million for the six months ended June 30, 2019, significantly lower than SGD 10.4 million in 2018[45] - Capital expenditures related to the acquisition of properties, plants, and equipment for the six months ended June 30, 2019, were approximately SGD 0.6 million[75] Inventory and Receivables - The company’s inventory write-off decreased to SGD 66,000 from SGD 165,000, indicating improved inventory management[12] - The company's trade receivables as of June 30, 2019, amounted to SGD 5,148,000, an increase of 2.8% from SGD 5,007,000 as of December 31, 2018[46] Corporate Governance and Compliance - The company has complied with the corporate governance code during the reporting period[99] - The audit committee reviewed the interim report and unaudited condensed consolidated financial statements for the six months ending June 30, 2019[103] Employee and Operational Metrics - The company employed 71 employees as of June 30, 2019, a decrease from 74 employees on December 31, 2018[82] - The total employee cost for the six months ended June 30, 2019, was approximately SGD 1.4 million, down from SGD 1.7 million for the same period in 2018[82] Market and Strategic Outlook - The company aims to promote its brand, provide quality products, and seize business opportunities despite facing a challenging year due to intense industry competition[61] - The company believes that the expansion of its warehouse and production facilities, following the acquisition of a new property in March 2018, will help capture business opportunities and reduce third-party warehouse rental costs[61]
COOL LINK(08491) - 2019 - 中期财报