Financial Performance - For the six months ended June 30, 2024, the group's unaudited revenue was approximately SGD 4.9 million, a decrease of about SGD 0.4 million or 7.5% compared to SGD 5.3 million for the same period in 2023[2] - The unaudited loss for the six months ended June 30, 2024, was approximately SGD 1.6 million, compared to a loss of SGD 2.7 million for the same period in 2023[2] - Basic loss per share for the six months ended June 30, 2024, was 0.23 Singapore cents, an improvement from a basic loss per share of 0.45 Singapore cents for the same period in 2023[2] - The company reported a total comprehensive loss of SGD 1.581 million for the six months ended June 30, 2024, compared to SGD 2.747 million for the same period in 2023[3] - The company reported a total loss of 1,581 thousand Singapore dollars for the six months ended June 30, 2024, compared to a loss of 2,676 thousand Singapore dollars for the same period in 2023[16] Assets and Liabilities - Total assets as of June 30, 2024, were SGD 9.496 million, a decrease from SGD 10.059 million as of December 31, 2023[4] - Total liabilities as of June 30, 2024, were SGD 8.208 million, an increase from SGD 7.190 million as of December 31, 2023[5] - The company's equity attributable to owners was SGD 1.288 million as of June 30, 2024, down from SGD 2.869 million as of December 31, 2023[4] - The company reported a total lease liability of SGD 2,645,000 as of June 30, 2024, down from SGD 2,942,000 at the end of 2023, a decrease of 10.08%[32] Cash Flow - For the six months ended June 30, 2024, the company reported a cash flow from operating activities of SGD (1,581) thousand, an improvement from SGD (2,676) thousand for the same period in 2023[7] - The company experienced a net cash outflow from investing activities of SGD (227) thousand, compared to SGD (5) thousand in the previous year[8] - Financing activities generated a net cash inflow of SGD 466 thousand, a significant improvement from a net cash outflow of SGD (449) thousand in the prior year[8] - As of June 30, 2024, the company's cash and cash equivalents decreased to SGD 1,154 thousand from SGD 1,804 thousand at the end of June 2023[8] Segment Performance - For the six months ended June 30, 2024, total segment revenue was 4,869 thousand Singapore dollars, a decrease of 8.8% from 5,338 thousand Singapore dollars for the same period in 2023[15] - The segment gross profit for the components segment was 36 thousand Singapore dollars, while the subcomponents segment reported a gross loss of 154 thousand Singapore dollars, resulting in an overall segment gross loss of 118 thousand Singapore dollars[15] - Total unallocated expenses amounted to 1,581 thousand Singapore dollars, leading to a loss before tax of 1,581 thousand Singapore dollars for the period[15] Expenses - Employee benefit expenses decreased to 1,919 thousand Singapore dollars from 2,138 thousand Singapore dollars year-on-year[20] - Administrative expenses decreased by approximately SGD 0.3 million or 18.8% to about SGD 1.3 million for the six months ended June 30, 2024, compared to SGD 1.6 million for the same period last year[57] - The cost of goods sold for the period was 2,404 thousand Singapore dollars, an increase from 2,169 thousand Singapore dollars in the previous year[19] Shareholder Information - The weighted average number of ordinary shares issued increased to 682,046,000 shares in 2024 from 568,372,000 shares in 2023, reflecting a 19.99% increase[28] - The group issued 113,674,358 new shares at SGD 0.05 per share, raising SGD 964,000 on December 22, 2023[42] - On July 29, 2024, the company issued 136,409,229 new shares at a price of HKD 0.072 per share, raising approximately SGD 1,672,000 after expenses[75] Corporate Governance - The company has complied with the corporate governance code, except for the provision that the roles of chairman and CEO should be separated, which is currently not the case[84] - The company has adopted the trading standards as per GEM Listing Rules, confirming full compliance by all directors for the six months ending June 30, 2024[85] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial information for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards and GEM Listing Rules[86] Business Operations - The company has terminated its gaming machine and equipment business operations as of December 2023[9] - The company is primarily engaged in the manufacturing and sale of disposable medical device components and providing mold services in Singapore[9] - The group did not engage in any significant acquisitions or disposals during the six months ended June 30, 2024[50] - No significant acquisitions or disposals of subsidiaries were made by the company during the six months ended June 30, 2024[72] Risks and Compliance - The company faced foreign exchange risks primarily due to procurement in currencies other than Singapore dollars, but these risks were not significant during the reporting periods[73] - The company did not recognize any income tax expense for the six months ended June 30, 2024, as it did not generate taxable profits in Hong Kong[25] - The Singapore corporate income tax rate remained at 17% for both 2024 and 2023, with no changes in tax provisions[23]
加和国际控股(08513) - 2024 - 中期财报