Financial Performance - For the three months ended June 30, 2021, revenue was SGD 7,227,000, representing an increase of 10.6% compared to SGD 6,538,000 for the same period in 2020[4] - Gross profit for the six months ended June 30, 2021, was SGD 3,534,000, up 13.7% from SGD 3,109,000 in the same period of 2020[4] - The net loss for the three months ended June 30, 2021, was SGD 596,000, compared to a loss of SGD 77,000 in the same period of 2020[4] - For the six months ended June 30, 2021, the company reported a revenue of SGD 14,387,000, an increase of 9.7% compared to SGD 13,111,000 for the same period in 2020[17] - The company reported a total financing cost of SGD 372,000 for the six months ended June 30, 2021, compared to SGD 367,000 in the same period of 2020[20] - The group recorded a profit of approximately SGD 0.29 million for the six months ended June 30, 2021, compared to a loss of approximately SGD 58,000 for the same period in 2020, mainly due to gains from the sale of investment properties[66] Assets and Liabilities - Total assets as of June 30, 2021, were SGD 18,530,000, an increase from SGD 18,402,000 as of December 31, 2020[6] - Current liabilities increased to SGD 16,079,000 as of June 30, 2021, from SGD 9,981,000 as of December 31, 2020[6] - The total equity attributable to owners of the company increased to SGD 18,023,000 as of June 30, 2021, from SGD 15,347,000 as of December 31, 2020[6] - The company's total trade receivables as of June 30, 2021, amounted to SGD 5.95 million, up from SGD 5.09 million as of December 31, 2020, indicating a 16.9% increase[33] - The total trade payables increased to SGD 2.79 million as of June 30, 2021, compared to SGD 2.13 million as of December 31, 2020, reflecting a 30.8% rise[34] - As of June 30, 2021, the group's total borrowings amounted to approximately SGD 19.9 million, with a debt-to-equity ratio of approximately 110.3%[72] Cash Flow - The net cash used in operating activities was SGD 209,000, a significant decrease from the net cash generated of SGD 1,031,000 in the same period last year[11] - The company recorded a net cash inflow from investing activities of SGD 2,099,000, compared to a cash outflow of SGD 35,000 in the previous year[11] - The financing activities resulted in a net cash outflow of SGD 2,703,000, which is an increase from the outflow of SGD 820,000 in the same period of 2020[11] - The total cash and cash equivalents decreased to SGD 5,105,000 at the end of the period from SGD 6,093,000 at the end of the previous period[11] Operational Highlights - The company plans to continue exploring new product development and market expansion strategies to enhance future performance[2] - The company recognized a loss of SGD 1,145,000 from the sale of investment properties during the six months ended June 30, 2021[19] - The company’s inventory increased by SGD 138,000 compared to an increase of SGD 698,000 in the same period last year[11] - The company’s depreciation expenses for property, plant, and equipment increased to SGD 0.89 million for the six months ended June 30, 2021, from SGD 0.70 million in the same period of 2020, marking a 27% increase[22] - The company acquired a subsidiary for SGD 148,000 during the reporting period[11] Shareholder and Governance - Major shareholders include Ma You Cheng Investment Limited and Roma Group Limited, each holding 19,440,000 shares, representing 33.33% of the total shares[90] - As of June 30, 2021, the company’s directors and key executives collectively hold 7,200,000 shares each, representing 0.94% of the total shares[85] - The company adopted a share option scheme on August 30, 2017, aimed at attracting and retaining qualified individuals[92] - The company has complied with the corporate governance code as per GEM Listing Rules during the six months ending June 30, 2021[102] - The audit committee reviewed the interim report and financial statements for the six months ending June 30, 2021, confirming compliance with applicable accounting standards and GEM Listing Rules[104] Future Outlook - The company plans to leverage its existing network in the food supply business to enter the disinfection and sterilization product market, aiming to increase and diversify its revenue sources[56] - The company remains optimistic about its core business despite challenges posed by the COVID-19 pandemic and is committed to exploring diverse opportunities for sustainable growth[56] - The company anticipates that the unutilized net proceeds will be used before the end of 2021 due to a slowdown in market demand in the shipping supply industry[83]
COOL LINK(08491) - 2021 - 中期财报