Financial Performance - For the six months ended June 30, 2024, the total revenue of the group was approximately SGD 13,753,000, an increase of about SGD 3,623,000 or 35.8% compared to the six months ended June 30, 2023[3]. - The loss attributable to owners of the company for the six months ended June 30, 2024, was approximately SGD 599,000, a significant improvement from a loss of approximately SGD 2,140,000 for the same period in 2023[3]. - The gross profit for the six months ended June 30, 2024, was SGD 615,201, compared to SGD 126,092 for the same period in 2023[4]. - The basic and diluted loss per share for the six months ended June 30, 2024, was SGD (0.004), an improvement from SGD (0.016) for the same period in 2023[5]. - The company reported a foreign exchange gain of SGD 78,902 for the six months ended June 30, 2024, compared to a loss of SGD (19,653) in the same period of 2023[5]. - The company reported a total comprehensive loss of SGD (598,768) for the six months ended June 30, 2024, compared to a total comprehensive loss of SGD (2,140,243) for the six months ended June 30, 2023[7]. - Overall gross profit increased from approximately SGD 126,000 to approximately SGD 615,200, with the gross profit margin rising from about 1.2% to approximately 4.5% due to effective cost control[37]. - The group recorded a loss of approximately SGD 678,000 for the six months ended June 30, 2024, a reduction of about SGD 1,443,000 compared to a loss of approximately SGD 2,121,000 for the same period in 2023[41]. Revenue Breakdown - Revenue from the freight transportation services segment was SGD 13,086,755, up from SGD 8,758,250, reflecting a growth of 49.5%[12]. - Revenue from freight transportation services rose by approximately SGD 4,329,000 to SGD 13,087,000, representing an increase of about 49.4% due to an overall increase in customer transaction volume[35]. - Revenue from consolidation services decreased by SGD 706,000 to SGD 666,000, attributed to varying service demands from different customers and projects[36]. - Other income increased by approximately SGD 39,000 to about SGD 101,000, primarily due to foreign exchange fluctuations[38]. Expenses and Costs - Administrative expenses decreased to SGD 1,357,862 for the six months ended June 30, 2024, from SGD 2,280,114 in the same period of 2023[4]. - Total employee costs for the six months ended June 30, 2024, amounted to approximately SGD 3,379,000, a decrease from SGD 3,459,000 for the same period in 2023[47]. - The company incurred total financing costs of SGD 35,759 for the six months ended June 30, 2024, an increase from SGD 28,279 in the same period of 2023[15]. Assets and Liabilities - The total assets as of June 30, 2024, were SGD 13,734,229, down from SGD 14,658,933 as of December 31, 2023[6]. - The total liabilities as of June 30, 2024, were SGD 209,839, compared to SGD 535,775 as of December 31, 2023[6]. - The net assets attributable to equity holders as of June 30, 2024, were SGD 13,524,390, down from SGD 14,123,158 as of December 31, 2023[6]. - Trade receivables increased to SGD 7,255,811 as of June 30, 2024, compared to SGD 6,221,430 as of December 31, 2023[24]. - Trade payables rose to SGD 1,058,208 as of June 30, 2024, compared to SGD 962,236 as of December 31, 2023[25]. Cash Flow - Net cash flow used in operating activities for the six months ended June 30, 2024, was SGD (591,410), compared to SGD (21,632) for the same period in 2023[8]. - The investment activities net cash flow for the six months ended June 30, 2024, was SGD (417,294), a significant decrease from SGD (2,950,251) in the same period of 2023[8]. - The company’s financing activities generated a net cash flow of SGD (517,014) for the six months ended June 30, 2024, compared to a positive cash flow of SGD 4,555,916 in the same period of 2023[8]. - Cash and cash equivalents decreased by SGD 1,525,718, resulting in a closing balance of SGD 301,660 as of June 30, 2024[8]. Shareholder Information - The company did not recommend the payment of any dividend for the six months ended June 30, 2024[3]. - The company issued 55,193,873 new shares at a subscription price of 0.26 HKD per share, raising approximately 32.5 million HKD[28]. - As of June 30, 2024, the company's directors and key executives hold a total of 3,230,250 shares, representing approximately 1.94% of the issued share capital[51]. - Ventris Global Limited holds a 1.74% stake in the company with 2,910,250 shares, while Wang Hufei owns 6.28% with 10,471,750 shares as of June 30, 2024[56]. Corporate Governance - The company has adopted the GEM Listing Rules Appendix 15 Corporate Governance Code and has complied with all provisions except for the separation of the roles of Chairman and CEO, which is held by Mr. Cai, the founder[61]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the six months ended June 30, 2024, and confirmed compliance with applicable accounting standards and GEM Listing Rules[62]. - The company will continue to evaluate the effectiveness of its corporate governance structure regarding the separation of the roles of Chairman and CEO[61]. Future Plans and Market Outlook - The company aims to maintain growth in the industry and strengthen overall competitiveness while expanding market share in Singapore[50]. - Future plans include purchasing new vehicles to enhance service capabilities and increasing employee numbers to meet business expansion needs[50]. - The global trade economy remains uncertain, prompting the company to adopt a cautious approach towards its expansion plans[50].
春能控股(08430) - 2024 - 中期业绩