Financial Performance - Total revenue for the six months ended March 31, 2025, was SGD 31,956,119, an increase of 35.5% compared to SGD 23,625,588 for the same period in 2024[10] - Service revenue reached SGD 31,678,591, up 35.8% from SGD 23,344,088 year-over-year[10] - The company reported a net profit of SGD 413,129, compared to SGD 251,515 for the same period last year, reflecting a growth of 64.3%[10] - Basic and diluted earnings per share increased to SGD 0.09 from SGD 0.05, marking an 80% increase[10] - The group's profit before tax rose to SGD 413,129 in 2025, compared to SGD 251,515 in 2024, reflecting a growth of 64.3%[40] - The net profit for the first half of fiscal year 2025 rose to approximately 0.4 million SGD, an increase of about 0.1 million SGD from 0.3 million SGD in the first half of fiscal year 2024[72][73] Revenue Breakdown - Total revenue from customer contracts for the six months ended March 31, 2025, was SGD 31,678,591, an increase of 35.8% from SGD 23,344,088 in 2024[27] - The revenue from construction services, particularly civil engineering, rose to SGD 31,523,136, compared to SGD 21,282,599 in the previous year, marking an increase of 48.2%[27] - Revenue for the construction services segment increased to SGD 31,678,591 in 2025 from SGD 23,344,088 in 2024, representing a growth of 35.8%[30] - The construction services accounted for 99.1% of total revenue in the first half of fiscal year 2025, with civil engineering contributing 98.6%[77] Expenses and Costs - The service costs rose by approximately 8.2 million SGD or about 39.2% to approximately 29.1 million SGD in the first half of fiscal year 2025, aligning with the revenue increase[82] - The group's administrative expenses remained stable at approximately SGD 2.6 million for both the first half of FY2025 and FY2024[86] - The group experienced a significant increase in subcontracting costs, which rose to SGD 15,847,512 in 2025 from SGD 7,928,316 in 2024, an increase of 99.5%[40] Assets and Liabilities - Total assets as of March 31, 2025, were SGD 35,105,291, down from SGD 40,316,981 as of September 30, 2024[11] - Current liabilities decreased to SGD 28,989,138 from SGD 35,184,100, indicating improved liquidity[11] - The company's net asset value increased to SGD 27,587,982 from SGD 27,174,853, showing a positive trend in equity[13] - The company's total liabilities increased significantly, with bank borrowings amounting to SGD 7,230,190, compared to SGD 6,079,692 in the previous year, indicating a rise of approximately 18.9%[17] Cash Flow and Financing - The operating cash flow before changes in working capital was SGD 2,669,977, up from SGD 2,376,155 in the previous year, indicating a growth of approximately 12.3%[16] - The net cash used in financing activities was SGD 4,471,112, significantly higher than SGD 1,579,681 in the previous year, indicating increased financial outflows[17] - The cash and cash equivalents at the end of the period decreased to SGD 4,648,282 from SGD 8,546,790, reflecting a decline of approximately 45.5%[17] - The company's interest expenses decreased to SGD 361,629 from SGD 454,307, showing a reduction of approximately 20.3%[17] Investment Properties and Future Plans - The company has maintained its investment properties at SGD 11,460,000, indicating stability in its asset base[11] - The fair value of investment properties increased to 11,460,000 SGD as of March 31, 2025, up from 10,550,000 SGD as of September 30, 2023, marking an increase of about 8.6%[47] - The group has a strategy to continuously build a portfolio of investment properties to provide stable and recurring income, while also diversifying risks associated with the construction industry[106] - The company plans to continue expanding its service offerings and exploring new market opportunities to drive future growth[9] Employee and Governance - Employee costs for the first half of the fiscal year 2025 amounted to approximately S$4.4 million, an increase from S$3.8 million in the same period of fiscal year 2024[110] - The group employs 191 staff as of March 31, 2025, compared to 182 staff a year earlier[110] - The company has complied with the corporate governance code as per the listing rules during the first half of the 2025 financial year[121] Shareholder Information - The board members hold a combined 75% equity interest in the company through controlled entities, with 360,000,000 shares held by Alpine Treasure Limited[115] - Alpine holds 75% of the company's shares, with Mr. He directly owning 80% and Mr. Zhang indirectly owning 20% through his holding company[116] - As of March 31, 2025, Alpine holds 360,000,000 shares, representing 75% of the issued share capital[117] Risk and Compliance - The group faces foreign exchange risk due to holding approximately SGD 3.5 million in bank balances denominated in Hong Kong dollars as of March 31, 2025[99] - The audit committee reviewed the unaudited interim results for the first half of the 2025 financial year and confirmed compliance with applicable accounting standards[123]
中国新零售供应链(03928) - 2025 - 中期财报