Financial Performance - For the six months ended June 30, 2024, FSM Holdings Limited reported revenue of 7,043 thousand SGD, a decrease of 17.5% compared to 8,539 thousand SGD for the same period in 2023[2] - The gross profit for the same period was 2,815 thousand SGD, down 26.4% from 3,826 thousand SGD in the prior year[2] - The net loss attributable to owners of the company was 413 thousand SGD, compared to a loss of 15 thousand SGD in the previous year, indicating a significant decline in performance[3] - The company’s basic and diluted loss per share for the period was (0.0413) SGD, compared to (0.0015) SGD in the previous year[2] - The group reported total revenue of 8,539 thousand New Taiwan Dollars for the six months ended June 30, 2023, with a significant contribution from the manufacturing segment[16] - The manufacturing segment generated revenue of 6,149 thousand New Taiwan Dollars, while the online business segment reported a loss of 2,374 thousand New Taiwan Dollars[17] - The group recorded a pre-tax loss of 123 thousand New Taiwan Dollars for the six months ended June 30, 2023[16] - Total revenue from sales of products was NT$6,123,000 for the six months ended June 30, 2024, down from NT$8,312,000 in the same period of 2023, a decrease of approximately 26.4%[27] - The online business segment, specifically mobile gaming, generated revenue of approximately SGD 0.9 million for the six months ended June 30, 2024, down from approximately SGD 3 million for the same period in 2023[50] Assets and Liabilities - Total assets as of June 30, 2024, were 53,582 thousand SGD, a decrease from 55,185 thousand SGD as of December 31, 2023[4] - Total liabilities decreased to 20,370 thousand SGD from 21,073 thousand SGD, reflecting a reduction in financial obligations[5] - The company’s cash and cash equivalents stood at 38,710 thousand SGD, slightly down from 38,936 thousand SGD at the end of 2023[4] - Total assets amounted to NT$53,582,000 as of June 30, 2024, down from NT$55,185,000 as of December 31, 2023, indicating a decrease of approximately 2.9%[20] - Total liabilities decreased to NT$20,370,000 as of June 30, 2024, from NT$21,073,000 as of December 31, 2023, a reduction of about 3.3%[23] - Trade receivables as of June 30, 2024, amounted to 1,951 thousand New Taiwan Dollars, a decrease of 23.7% from 2,558 thousand New Taiwan Dollars as of December 31, 2023[41] - Total borrowings increased to 14,432 thousand New Taiwan Dollars as of June 30, 2024, up 5.4% from 13,695 thousand New Taiwan Dollars as of December 31, 2023[46] - Total liabilities decreased to 3,239 thousand New Taiwan Dollars as of June 30, 2024, down 29.0% from 4,556 thousand New Taiwan Dollars as of December 31, 2023[43] Income and Expenses - The company reported a net financial income of 110 thousand SGD for the six months ended June 30, 2024, compared to 6 thousand SGD in the same period last year[2] - The cost of goods sold for the six months ended June 30, 2024, was 1,565,000 SGD, compared to 1,767,000 SGD for the same period in 2023, representing a decrease of approximately 11.4%[30] - Employee benefits expenses for the six months ended June 30, 2024, increased to 2,796,000 SGD from 2,470,000 SGD in 2023, reflecting an increase of about 13.2%[30] - The income tax expense for the six months ended June 30, 2024, was 296,000 SGD, down from 501,000 SGD in 2023, indicating a decrease of approximately 41.0%[31] - Administrative expenses increased by approximately SGD 0.5 million or 24.4% to SGD 2.6 million for the six months ended June 30, 2024, compared to SGD 2.1 million for the same period in 2023[54] - Research and development expenses related to mobile gaming increased from approximately SGD 1.3 million for the six months ended June 30, 2023, to approximately SGD 1.4 million for the same period in 2024[55] Business Segments - The company is primarily engaged in precision engineering, sheet metal manufacturing, and online mobile game development and publishing[6] - The group is focused on enhancing its online business operations to improve profitability moving forward[15] - The group aims to maintain close relationships with manufacturing clients and enhance production efficiency through machine upgrades and robotics[51] - The board will continue to focus on developing core manufacturing operations to improve production capacity and efficiency[51] - The group plans to diversify revenue sources by developing and optimizing mobile gaming products launched in December 2020[51] Financial Management and Risk - Financial risk factors include market risk, credit risk, and liquidity risk, which the group continues to monitor[12] - The group’s financial risk management policies have remained unchanged since December 31, 2023[12] - The group’s financial estimates and judgments are consistent with those applied in the annual financial statements for the year ended December 31, 2023[11] - The group has not adopted any new accounting standards that would significantly impact its financial performance or position as of January 1, 2024[9] Corporate Governance and Compliance - The company has adhered to all applicable corporate governance codes as of June 30, 2024[73] - The Audit Committee has reviewed the unaudited condensed consolidated interim results for the six months ended June 30, 2024, and found no discrepancies with the accounting principles adopted by the company[76] - All directors confirmed compliance with the standards for securities trading as of June 30, 2024[77] - The interim results announcement will be published on the Hong Kong Stock Exchange website and the company's website, with reports sent to shareholders upon request[77] Employee and Operational Updates - As of June 30, 2024, the group employed 240 full-time employees, an increase from 207 employees as of December 31, 2023[68] - The company has a stock option plan that allows for the issuance of up to 100,000,000 shares as of both January 1, 2024, and June 30, 2024[69] Future Plans and Investments - The net proceeds from the listing amounted to approximately HKD 95.2 million, which will be utilized according to the company's future plans[70] - The company plans to enhance production capacity with an allocation of HKD 46.8 million, with expected utilization before December 31, 2024[71] - The company aims to implement greater automation in production, allocating HKD 29.1 million for this purpose[71] - The company has allocated HKD 9.4 million to strengthen its information technology systems[71] Miscellaneous - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[39] - The company has no significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures as of June 30, 2024[62] - The group has no significant contingent liabilities, guarantees, or lawsuits that could materially affect its financial position or performance as of June 30, 2024[64] - The group has no major post-reporting date events that could impact its financial performance as of the announcement date[66]
FSM HOLDINGS(01721) - 2024 - 中期业绩