Financial Performance - Anacle Systems Limited reported its unaudited interim financial performance for the six months ended November 30, 2024, with the interim report to be available by January 14, 2025[3]. - Total revenue for the six months ended November 30, 2024, increased by 29.3% to 14,504,936 SGD, up from 11,216,739 SGD in the same period last year[14]. - Gross profit for the same period rose to 6,951,444 SGD, a 28.1% increase from 5,427,297 SGD, driven by revenue growth in the Simplicity® and Starlight® product lines[14]. - The pre-tax profit for the six months was 90,285 SGD, a significant recovery from a loss of 446,161 SGD in the previous year, attributed to increased gross profit and reduced sales and marketing expenses[14]. - The company did not declare any dividends for the six months ended November 30, 2024, consistent with the previous year[15]. - The company reported a pre-tax comprehensive profit of SGD 90,285 for the six months ended November 30, 2024, compared to a loss of SGD 446,161 in 2023[71]. - For the six months ended November 30, 2024, the company reported a basic and diluted earnings per share of SGD 0.02, compared to a basic loss per share of SGD 0.11 for the same period in 2023[85]. Financial Position - Current assets totaled 19,733,144 SGD, down from 21,138,626 SGD as of May 31, 2024, reflecting changes in cash and inventory levels[20]. - Total liabilities decreased to 4,463,396 SGD from 6,303,072 SGD, improving the company's financial position[20]. - The net asset value increased to 18,214,916 SGD from 17,903,067 SGD, indicating a strengthening balance sheet[20]. - Total assets as of November 30, 2024, were SGD 23,587,660, a decrease from SGD 25,729,690 as of May 31, 2024[71]. - Total liabilities as of November 30, 2024, were SGD 5,372,744, down from SGD 7,826,623 as of May 31, 2024[71]. - The company’s total equity in joint ventures includes a 25% ownership stake in EASI Technology Co., Ltd., which aims to expand the company's software products into the Chinese market[90]. Cash Flow - Net cash used in operating activities for the six months ended November 30, 2024, was S$2,984,452, compared to S$1,839,322 for the same period in 2023, indicating a significant increase in cash outflow[24]. - Net cash generated from investing activities was S$166,131 for the six months ended November 30, 2024, compared to S$193 in the previous year, showing a positive trend in investment cash flow[24]. - The net decrease in cash and cash equivalents for the period was S$3,458,878, up from S$2,447,871 in the prior year, reflecting increased cash burn[24]. - Cash and cash equivalents at the end of the period stood at S$8,260,365, down from S$9,388,248 a year earlier, indicating a decline in liquidity[24]. Governance and Compliance - The board of directors confirmed that the information provided in the announcement is accurate and complete, with no misleading statements or omissions[4]. - The company is committed to transparency and governance, with various committees established to oversee audit, remuneration, and nominations[12]. - The board consists of both executive and independent non-executive directors, ensuring a balanced governance structure[12]. - The financial report is prepared in accordance with applicable International Financial Reporting Standards and is unaudited, requiring reading in conjunction with the annual financial statements[27]. - The audit committee, consisting of two independent non-executive directors and one non-executive director, has reviewed the interim financial statements for the 2024/25 fiscal year[186]. - The company has adopted and complied with all applicable corporate governance codes during the reporting period[184]. Revenue Recognition - Revenue from enterprise application software solutions and energy management solutions is recognized based on fixed contract prices, with invoices typically issued for payment within 90 days[37]. - Revenue from maintenance services is recognized over time as customers simultaneously receive and consume benefits, with invoices issued monthly and typically paid within 30 days[40]. - Subscription revenue is recognized over time based on the number of accounts, with a structure that includes a minimum number of basic accounts and no variable consideration[41]. - Rental income from hardware leases is recognized on a straight-line basis over the lease term[42]. - Interest income is recognized using the effective interest method, discounting future cash flows to the financial asset's carrying amount[43]. - Contract assets represent rights to consideration in exchange for goods or services transferred to customers before payment is received[45]. - Contract liabilities are recognized when consideration is received from customers before the transfer of goods or services, and are recognized as revenue when the contract is fulfilled[45]. Operational Insights - Anacle Systems Limited is focused on providing advanced IoT, smart metering, and control platforms through its TESSERACT data technology[10]. - The company aims to enhance its market position through strategic initiatives and potential future expansions[3]. - The company’s primary business includes software development and providing enterprise application software solutions, as well as energy management solutions[26]. - The Simplicity segment generated SGD 13,646,874 in revenue, while the Starlight segment contributed SGD 858,062 for the six months ended November 30, 2024[73]. - The company has not disclosed any new product developments or market expansion strategies in the current report[28]. Employee and Management Compensation - Employee costs, including directors' remuneration, totaled SGD 9,660,976 for the six months ended November 30, 2024, an increase of 19.4% from SGD 8,098,352 in the same period of 2023[81]. - Key management personnel compensation for the three months ended November 30, 2024, amounted to SGD 614,047, an increase from SGD 428,532 in the same period of 2023[132]. - The company provided housing loans totaling SGD 1,270,000 to three key management personnel, with interest rates ranging from 1.37% to 2.20%[134]. Stock Options and Share Capital - The company granted a total of 39,915,849 post-IPO stock options on October 12, 2023, with 31,000,000 options pending approval at the extraordinary general meeting on December 8, 2023[125]. - The estimated fair value of the stock options granted is approximately SGD 983,600, equivalent to HKD 5,644,000, calculated using the Black-Scholes pricing model[126]. - The exercise price for each stock option is HKD 0.256, while the weighted average share price at the time of grant was HKD 0.250[127]. - As of November 30, 2024, there are 39,915,849 unexercised stock options, with a weighted average exercise price of SGD 0.045[129]. - The company aims to align the interests of option holders with its performance-driven future stock price through the share option plan[175]. - The company’s issued and fully paid share capital remained at SGD 21,095,353 as of both May 31, 2024, and November 30, 2024, with no changes in the number of shares issued[124].
安科系统(08353) - 2025 - 中期业绩