Financial Performance - The group's unaudited revenue for the six months ended June 30, 2021, was approximately SGD 10.3 million, compared to SGD 10.3 million for the same period in 2020[4] - The group's unaudited profit for the six months ended June 30, 2021, was approximately SGD 0.2 million, slightly up from SGD 0.2 million in the previous year[4] - Basic and diluted earnings per share for the six months ended June 30, 2021, were SGD 0.07, an increase from SGD 0.03 for the same period in 2020[4] - The total comprehensive income for the six months ended June 30, 2021, was SGD 0.283 million, compared to SGD 0.214 million in the previous year[4] - The group reported a gross profit of SGD 2.47 million for the six months ended June 30, 2021, compared to SGD 2.27 million in the same period of 2020[7] - The group’s operating profit for the six months ended June 30, 2021, was SGD 0.472 million, down from SGD 0.543 million in the previous year[7] - For the six months ended June 30, 2021, the company reported a total comprehensive income of 329,000 SGD, compared to a loss of 110,000 SGD in the same period of 2020, representing a significant turnaround[17] - Operating cash flow for the six months ended June 30, 2021, was 3,035,000 SGD, a substantial increase from 46,000 SGD in the prior year[17] - The company recorded a net profit of SGD 219,000 for the six months ended June 30, 2021, compared to SGD 204,000 in the same period of 2020, reflecting an increase of 7.35%[33] Assets and Liabilities - Total assets as of June 30, 2021, were SGD 30.704 million, down from SGD 32.159 million as of December 31, 2020[8] - The total liabilities as of June 30, 2021, were SGD 12.741 million, a decrease from SGD 14.479 million as of December 31, 2020[11] - The company’s total liabilities decreased from 4,557,000 SGD as of June 30, 2020, to 3,584,000 SGD as of June 30, 2021, indicating improved financial health[13] - The total equity attributable to the company's equity holders as of June 30, 2021, was 17,963,000 SGD, up from 17,014,000 SGD at the end of the previous period[13] - Trade receivables as of June 30, 2021, amounted to SGD 4,990,000, a decrease of 24.5% from SGD 6,609,000 as of December 31, 2020[76] - Trade payables as of June 30, 2021, were SGD 1,659,000, down 19% from SGD 2,045,000 as of December 31, 2020[86] - The company’s other receivables decreased from SGD 2,589,000 to SGD 638,000 from December 31, 2020, to June 30, 2021[76] - The company’s total liabilities related to trade and other payables were SGD 3,586,000 as of June 30, 2021, compared to SGD 4,274,000 as of December 31, 2020[86] Expenses - Employee benefits expenses for the six months ended June 30, 2021, were SGD 2,984,000, up from SGD 2,870,000 in 2020, marking an increase of 3.97%[42] - Research and development expenses for the six months ended June 30, 2021, were SGD 244,000, compared to SGD 190,000 in 2020, representing an increase of 28.42%[42] - The total cost of goods sold for the six months ended June 30, 2021, was SGD 4,057,000, a decrease from SGD 4,563,000 in the same period of 2020, indicating a reduction of 11.09%[42] - Administrative expenses decreased by approximately SGD 0.4 million or 19.1% to about SGD 1.8 million, mainly due to a reduction in legal and professional fees[104] - Unallocated expenses for the six months ended June 30, 2021, totaled SGD 1,835,000, compared to SGD 1,555,000 in the same period of 2020, indicating an increase of 18.06%[33] Taxation and Interest - Total income tax expense for the six months ended June 30, 2021, was SGD 124,000, down from SGD 183,000 in 2020, a decrease of 32.18%[51] - Interest expenses for lease liabilities decreased to SGD 90,000 in 2021 from SGD 118,000 in 2020, representing a reduction of 23.73%[49] - The total interest expenses for the six months ended June 30, 2021, amounted to SGD 129,000, down from SGD 156,000 in 2020, a decrease of 17.31%[49] Shareholder Information - As of June 30, 2021, the major shareholders include Mr. Pan with a 44.35% stake and Ms. Huang with a 44.35% stake in the company[139] - As of June 30, 2021, the major shareholder, Tianyun Global Limited, holds 204,000,000 shares, representing 44.35% of the company's total shares[149] - Ms. Shi Huiling owns 30,000,000 shares, accounting for 6.52% of the company's total shares[149] - The company has a stock option plan with 40,000,000 options available for issuance, which represents approximately 8.7% of the total issued shares as of June 30, 2021[153] - No stock options were granted during the six months ending June 30, 2021, and there were no unexercised stock options as of that date[157] Corporate Governance - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing financial statements and overseeing internal control procedures[162] - The company has complied with the corporate governance code, except for the separation of the roles of chairman and CEO, which is currently held by Mr. Pan[159] - The unaudited condensed consolidated financial information for the six months ending June 30, 2021, has been reviewed by the audit committee and complies with applicable accounting standards[165] Future Outlook - The company anticipates increased volatility in the second half of 2021 due to uneven vaccination rates, rising cost pressures, and escalating US-China tensions[99] - The group plans to utilize the remaining proceeds for various projects, including upgrading IT systems and enhancing sales and marketing services[128] - The group has delayed the full utilization of funds for developing and enhancing the injection molding business due to increased trade tensions and global economic uncertainties[130] Miscellaneous - The company did not recommend any dividend payment for the six months ended June 30, 2021[4] - The company has not engaged in any significant acquisitions or disposals during the six months ended June 30, 2021[123] - There were no significant adverse impacts on the financial performance due to the COVID-19 pandemic as of the report date[134] - The report will be published on the stock exchange and the company's website for at least seven days from the publication date[166]
官酝控股(08513) - 2021 - 中期财报