Financial Performance - The company reported revenue of SGD 5,735,734 for the six months ended December 31, 2024, representing a 48.7% increase from SGD 3,856,287 in the same period of 2023[10]. - The net profit for the period was SGD 2,234,383, compared to a net loss of SGD 240,563 in the previous year, indicating a significant turnaround[10]. - Basic and diluted earnings per share increased to 0.82 Singapore cents from a loss of 0.08 Singapore cents in the prior period[10]. - The company achieved a gross profit of SGD 2,120,934, compared to no gross profit reported in the previous year[10]. - Total comprehensive income for the period was SGD 2,244,270, a recovery from a comprehensive loss of SGD 250,804 in the same period last year[10]. - The operating profit for the six months was SGD 492,938, compared to a loss of SGD 178,221 in the previous year, reflecting improved operational efficiency[28]. - The company reported a pre-tax profit of SGD 2,251,416, a significant improvement from a loss of SGD 125,415 in the same period last year[28]. - Profit for the period was SGD 2,172,461, a turnaround from a loss of SGD 194,859 in the previous year[44]. - Net profit attributable to equity holders was approximately SGD 2.2 million, a turnaround from a loss of SGD 0.2 million in the previous year, attributed to effective cost control measures and the profitability of the smart beverage vending machine segment[78]. Revenue Breakdown - Revenue from external customers in Singapore was SGD 834,806, down from SGD 3,128,224 in 2023, while revenue from China surged to SGD 4,900,928 from SGD 728,063, indicating a significant shift in market focus[34]. - The smart beverage vending machine segment contributed SGD 4.53 million, accounting for 78.9% of total revenue, compared to only 7.1% in the previous year[68]. - Revenue increased by approximately SGD 1.9 million or 48.7% from about SGD 3.9 million for the six months ended December 31, 2023, to about SGD 5.7 million for the current period, primarily due to the newly established smart beverage vending machine segment[67]. Cost Management - The cost of materials and consumables used rose to SGD 3,831,963 from SGD 1,234,784, highlighting increased production activity[10]. - Employee benefit expenses decreased to SGD 1,143,231 from SGD 1,415,225, indicating improved cost management[10]. - Other expenses decreased significantly to SGD 384,535 from SGD 623,118, a decline of about 38.3%[40]. - Financial costs decreased to SGD 36,577 from SGD 61,525, reflecting a reduction of approximately 40.5%[42]. - Employee benefits costs, including directors' remuneration, decreased to SGD 1,143,231 from SGD 1,415,225 year-on-year, representing a reduction of approximately 19.2%[39]. - Operating lease costs decreased by approximately SGD 0.4 million or 68.9% to about SGD 0.2 million, influenced by a reduction in the number of bakeries and restaurants[73]. Assets and Liabilities - Total assets increased to SGD 8,166,674 as of December 31, 2024, compared to SGD 3,634,368 as of June 30, 2024, representing a growth of 125%[11]. - The company’s total liabilities decreased to SGD 8,036,080 as of December 31, 2024, down from SGD 8,779,077 as of June 30, 2024, a reduction of 8.5%[14]. - Non-current assets rose to SGD 3,707,335 as of December 31, 2024, compared to SGD 1,546,872 as of June 30, 2024, indicating an increase of 139%[11]. - Trade and other receivables surged to SGD 3,820,677 as of December 31, 2024, up from SGD 1,741,462, reflecting a growth of 119%[11]. - Trade and other receivables increased by approximately SGD 2.1 million or 152.3% to about SGD 3.8 million, driven by the expansion of the smart beverage vending machine segment[80]. Market Strategy and Future Plans - The company plans to continue expanding its market presence and investing in new product development to sustain growth[10]. - The company plans to continue exploring opportunities to expand its customer base and market share while focusing on operational efficiency and profitability[63]. - The company has closed several underperforming bakeries and restaurants to better monitor and control market expenditures amid rising operational costs due to inflation[63]. Corporate Governance - The company emphasizes the importance of corporate governance and transparency, maintaining high standards to build trust with stakeholders[114]. - The board believes that having Mr. Zhang serve as both Chairman and CEO enhances decision-making efficiency, despite the corporate governance code recommendation for separation[115]. - The company has complied with the corporate governance code throughout the reporting period, except for the separation of the Chairman and CEO roles[117]. - The audit committee, consisting of three independent non-executive directors, has reviewed and approved the unaudited interim financial statements for the six months ending December 31, 2024[120]. Shareholder Information - The company has not declared or paid any dividends during the period[60]. - The weighted average number of ordinary shares for calculating basic earnings per share increased to 266,175,000 from 240,000,000[44]. - The company issued 26,175,000 new shares at a subscription price of HKD 0.32 per share on April 5, 2024, increasing total issued shares to 266,175,000[49]. - As of December 31, 2024, China Youyin Technology Co., Ltd. holds a beneficial interest of 131,850,000 shares, representing 49.54% of the company's equity[112]. - Uin Holdings Limited and Mr. Zhang Yang also hold the same number of shares and percentage, indicating a concentrated ownership structure[112].
环球友饮智能(08496) - 2025 - 中期业绩