Financial Results - The company reported unaudited consolidated financial results for the six months ended June 30, 2024, with comparative figures from the same period in 2023[8]. - Revenue for the six months ended June 30, 2024, was SGD 7,392,000, a decrease of 16% compared to SGD 8,774,000 for the same period in 2023[9]. - Gross profit for the period was SGD 5,246,000, down from SGD 6,070,000, reflecting a decline of approximately 14%[9]. - The net loss attributable to equity holders for the period was SGD 804,000, an improvement from a loss of SGD 1,156,000 in the previous year[9]. - Total comprehensive loss for the period was SGD 825,000, compared to SGD 1,166,000 in the same period last year[9]. - Revenue for the restaurant business was SGD 5,141,000 for the six months ended June 30, 2024, down 21.1% from SGD 6,520,000 in the same period of 2023[18]. - Total revenue, including bakery sales, was SGD 7,392,000 for the six months ended June 30, 2024, compared to SGD 8,774,000 in the previous year, representing a decrease of 15.7%[19]. - The group reported a pre-tax loss of SGD 796,000 for the six months ended June 30, 2024, an improvement from a loss of SGD 1,145,000 in the same period of 2023[20]. - Basic loss per share for the six months ended June 30, 2024, was SGD (0.16) cents, compared to SGD (0.23) cents for the same period in 2023[24]. Financial Position - Non-current assets decreased to SGD 5,355,000 as of June 30, 2024, from SGD 6,814,000 as of December 31, 2023, representing a decline of approximately 21%[10]. - Current assets increased to SGD 2,323,000 from SGD 2,013,000, marking a growth of about 15%[10]. - Total liabilities increased to SGD 9,283,000 from SGD 8,089,000, indicating a rise of approximately 15%[10]. - Cash and cash equivalents decreased to SGD 358,000 from SGD 411,000, a decline of about 13%[10]. - Trade receivables net amount was SGD 123,000 as of June 30, 2024, down from SGD 155,000 as of December 31, 2023[26]. - Trade payables decreased to SGD 790,000 as of June 30, 2024, from SGD 1,097,000 as of December 31, 2023, a decline of about 28%[32]. - Total interest-bearing bank loans as of June 30, 2024, were SGD 1,454,000, compared to SGD 1,832,000 as of December 31, 2023, showing a reduction of approximately 20.6%[33]. - The total interest-bearing and other borrowings amounted to SGD 2.2 million as of June 30, 2024, down from SGD 2.5 million as of December 31, 2023, while total deficits increased to SGD 4.3 million from SGD 3.5 million[47]. Operational Performance - Net cash flow from operating activities was SGD 2,508,000, compared to SGD 765,000 in the previous year, showing a significant increase[13]. - The group received government grants totaling SGD 56,000 for the six months ended June 30, 2024, a decrease of 65.4% from SGD 162,000 in the same period of 2023[18]. - Employee costs for the six months ended June 30, 2024, were SGD 3,008,000, slightly down from SGD 3,139,000 in the previous year[20]. - The group’s total other income and gains were SGD 61,000 for the six months ended June 30, 2024, compared to SGD 166,000 in the same period of 2023, reflecting a decline of 63.4%[18]. - Labor costs increased by at least 10% over the past year, adding significant cost pressure to the food service industry[38]. - The food inflation rate rose to 6.8% year-on-year, driven by increased costs in raw materials, utilities, and labor[37]. - The company does not plan further expansion this year and will implement cost-cutting measures to better manage cash flow[38]. Corporate Governance - The announcement complies with the GEM Listing Rules of the Hong Kong Stock Exchange, ensuring the accuracy and completeness of the information provided[2]. - The board of directors confirmed that the information in the announcement is accurate and complete, with no misleading or fraudulent elements[2]. - The company is committed to maintaining compliance with corporate governance codes, as indicated by the establishment of various committees[5]. - The company acknowledges deviations from corporate governance codes, particularly regarding the separation of the roles of Chairman and CEO, which are held by the same individual[58]. - The board composition fell short of the GEM Listing Rules' requirement for independent non-executive directors, with only two independent directors after recent resignations[59]. - The audit committee, consisting of independent non-executive directors, reviewed the unaudited interim results for the six months ended June 30, 2024[62]. - The audit committee was formed in accordance with GEM Listing Rules and is responsible for overseeing the financial reporting process and internal control procedures[62]. Shareholder Information - The company did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[23]. - The company issued 500,000,000 ordinary shares, maintaining the issued and paid-up capital at SGD 869,000 for both reporting periods[35]. - The company has not issued any new shares during the reporting period, maintaining its capital structure[35]. - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the six months ending June 30, 2024[55]. - No share options have been granted under the share option scheme since its adoption on April 4, 2018, until June 30, 2024[56]. - The group’s board member Liu Wan-Zhen held a beneficial interest of 19.5 million shares, representing approximately 43.9% of the company's shares as of June 30, 2024[51]. - Major shareholder Net Heart Rehabilitation (International) holds 90,500,000 shares, representing 18.1% of the company's total shares as of June 30, 2024[53]. - No related party transactions were conducted by the group during the six months ending June 30, 2024[54]. Strategic Outlook - The management discussion and analysis section will provide insights into the company's performance and future outlook[4]. - The company aims to enhance shareholder value through strategic initiatives, including potential investments and acquisitions[4]. - The group has no specific plans for significant investments or acquisitions of capital assets as of the report date[65]. - There were no significant investments, acquisitions, or disposals by the group for the six months ended June 30, 2024[64]. - The group faced foreign exchange risks from sales and purchases denominated in currencies other than its functional currency, with no current foreign exchange hedging policy in place[49]. - As of June 30, 2024, the group had no contingent liabilities and no further asset pledges beyond existing arrangements[50].
聚利宝控股(08527) - 2024 - 中期业绩