Financial Performance - For the six months ended December 31, 2020, the company's revenue was approximately 18.3 million MYR, a decrease of about 6.4% compared to 19.6 million MYR in the same period last year[9]. - Gross profit for the same period decreased by approximately 26.2% to about 5.9 million MYR, down from 8.0 million MYR in the previous year[10]. - The company reported a loss of approximately 0.5 million MYR for the six months ended December 31, 2020, which is a 46.9% improvement compared to a loss of 0.9 million MYR in the prior year[10]. - Excluding listing expenses and income tax expenses, the profit for the period would be approximately 0.3 million MYR, a decrease of about 94.3% from 4.6 million MYR in the same period last year[10]. - The company's basic and diluted loss per share for the period was 0.09 sen, compared to 0.19 sen in the previous year[13]. - The total comprehensive loss for the period was 0.5 million MYR, compared to a loss of 0.9 million MYR in the same period last year[13]. - Revenue decreased by approximately 1.3 million MYR or 6.6% to about 18.3 million MYR for the six months ended December 31, 2020, primarily due to a 32.6% decrease in network support service revenue[118]. - The total revenue for the six months ended December 31, 2020, was RM 10,249,000, a decrease from RM 11,508,000 in the previous year, indicating a decline of approximately 10.9%[77]. Operational Efficiency and Strategy - The management indicated a focus on improving operational efficiency and exploring new market opportunities to drive future growth[10]. - The company is actively working on new product development and technological advancements to enhance its competitive position in the market[10]. - The company aims to enhance customer engagement and explore higher-value offerings in response to increased demand for network connectivity services due to remote work trends[95]. - The company is committed to maintaining a prudent approach to business development while seeking better opportunities to mitigate current market volatility[97]. - The company launched new services, including secure cloud services and data content management centers, to diversify revenue sources and mitigate risks associated with traditional network support services[102]. - The company is actively expanding its product and service offerings to attract new contracts and enhance customer relationships[109]. Financial Position - Non-current assets decreased from 29,776 thousand MYR to 27,467 thousand MYR, a decline of approximately 7.7%[15]. - Current assets decreased slightly from 39,608 thousand MYR to 39,281 thousand MYR, a decrease of about 0.8%[15]. - Current liabilities decreased from 11,444 thousand MYR to 9,773 thousand MYR, a reduction of approximately 14.6%[15]. - Net current assets increased from 28,164 thousand MYR to 29,508 thousand MYR, an increase of about 4.7%[15]. - Total assets less current liabilities remained stable, decreasing marginally from 59,169 thousand MYR to 59,081 thousand MYR[15]. - The company’s total equity decreased from 54,451 thousand MYR to 53,961 thousand MYR, a decrease of about 0.9%[18]. - The company reported a pre-tax profit of 264 thousand MYR, down from 340 thousand MYR, a decline of approximately 22.4%[26]. - The company’s trade payables decreased to RM 1,762,000 from RM 4,185,000 as of June 30, 2020, representing a decline of approximately 57.8%[83]. - The company reported total current liabilities of RM 12,677,000 as of December 31, 2020, down from RM 13,837,000 as of June 30, 2020, a decrease of approximately 8.4%[83]. Market Conditions and Future Outlook - Future guidance remains cautious due to ongoing market volatility and economic uncertainties impacting the industry[10]. - The company anticipates challenges and opportunities in the 2020/2021 fiscal year due to ongoing economic uncertainty, with a focus on streamlining management systems and adjusting operational strategies[97]. - The impact of COVID-19 on the business operations and financial performance is still being assessed, with ongoing monitoring of the situation[140]. Employee and Operational Costs - Employee costs, including directors' remuneration, decreased to 1,168 thousand MYR for the six months ended December 31, 2020, from 2,334 thousand MYR in the same period of 2019, a reduction of 50.0%[50]. - Employee costs for the six months ending December 31, 2020, were approximately MYR 2.4 million, compared to MYR 2.3 million for the same period in 2019[162]. - The company employed 47 staff members as of December 31, 2020, down from 51 employees a year earlier[162]. Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring rich business experience in financial and legal matters[177]. - The company has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15 for the six months ended December 31, 2020[180]. - The board believes that the dual role of the chairman and CEO held by Tan is in the best interest of the company, ensuring effective management and business planning[180]. - The company has confirmed compliance with the prescribed trading standards for directors as per GEM Listing Rules during the six months ended December 31, 2020[181]. Risk Management - The company recognizes the significant risks associated with its business operations and is focused on establishing effective risk management and internal control systems[98]. - The board believes that the risk management and internal control systems are effective and adequate, with ongoing evaluations planned[114]. - Forward-looking statements in the interim report involve known and unknown risks that may lead to actual performance differing significantly from those expressed[186].
比特元宇宙(08645) - 2021 - 中期财报