Financial Performance - Revenue for the six months ended June 30, 2025, was SGD 23,588,000, a decrease of 8.2% compared to SGD 25,699,000 for the same period in 2024[4] - Gross profit for the same period was SGD 1,677,000, down 20.5% from SGD 2,110,000 in 2024[4] - Operating profit decreased significantly to SGD 154,000, compared to SGD 2,038,000 in the previous year, reflecting a decline of 92.4%[4] - Net profit for the period was SGD 85,000, a decrease of 94.9% from SGD 1,654,000 in 2024[4] - Total comprehensive income for the period was SGD 63,000, down 96.2% from SGD 1,648,000 in the same period last year[6] - Basic and diluted earnings per share for the period were SGD 0.01, compared to SGD 0.28 in the previous year, a decrease of 96.4%[6] - For the six months ended June 30, 2025, the company reported a pre-tax profit of SGD 142,000, a significant decrease from SGD 2,020,000 in the same period of 2024, representing a decline of approximately 93%[10] - Profit for the six months ended June 30, 2025, was approximately SGD 85,000, a decrease of about SGD 1.5 million or 93.8% from SGD 1.6 million[45] Cash Flow and Assets - Operating cash flow before changes in working capital was SGD 259,000, down from SGD 2,234,000 year-over-year, indicating a decline of about 88%[10] - The net cash from operating activities was SGD 58,000, a sharp decrease from SGD 2,950,000 in the previous year, reflecting a decline of approximately 98%[10] - Cash and cash equivalents at the end of the period were SGD 20,035,000, an increase from SGD 17,862,000 in the previous year, showing a growth of about 6.5%[11] - The company’s total cash and cash equivalents decreased by SGD 10,000 during the period, contrasting with an increase of SGD 2,795,000 in the same period last year[11] - Trade receivables decreased to SGD 5,082,000 from SGD 6,410,000, indicating a reduction of 20.7%[7] - Current liabilities decreased to SGD 5,387,000 from SGD 7,554,000, a decline of 28.8%[7] - Total assets less current liabilities stood at SGD 23,682,000, slightly down from SGD 23,831,000 in December 2024[8] - The company's equity increased to SGD 23,569,000 from SGD 23,506,000, reflecting a growth of 0.3%[8] Expenses and Liabilities - The company’s total operating expenses, including employee costs, were SGD 23,408,000, a decrease of 8.8% from SGD 25,675,000 in the same period of 2024[24] - Employee costs and administrative expenses decreased by approximately SGD 0.5 million or 20.0%, from about SGD 2.5 million to approximately SGD 2.0 million[42] - The total liabilities decreased from SGD 1,715,000 in December 2024 to SGD 1,610,000 in June 2025, with a notable reduction in contract liabilities from SGD 33,000 to SGD 7,000[32] - Income tax expenses decreased by approximately SGD 0.3 million or 75.0%, from SGD 0.4 million to SGD 57,000[44] Revenue Sources - Revenue from human resource outsourcing services was SGD 23,286,000, down 7.4% from SGD 25,144,000 in the previous year[22] - Revenue from human resource outsourcing services fell from approximately SGD 25.1 million to about SGD 23.3 million, a decrease of approximately SGD 1.8 million, primarily due to reduced work orders from Singapore government agencies and private sector clients[39] - The service cost decreased by approximately SGD 1.7 million or 7.2% to about SGD 21.9 million for the six months ended June 30, 2025, compared to SGD 23.6 million for the same period in 2024[40] Investments and Future Plans - The company plans to focus on flexible workforce solutions and strengthening customer relationships to explore new revenue streams despite a challenging business environment[38] - The company plans to utilize HKD 23 million for expanding human resources outsourcing and recruitment services in Singapore, with HKD 9.2 million expected to be used by December 31, 2025[71] - The company has plans to improve its IT systems with an allocation of HKD 5.5 million, of which HKD 1 million remains to be utilized by December 31, 2025[71] - The company is currently evaluating whether to further invest in upgrading its IT systems and may allocate additional resources as necessary[74] Shareholder Information - As of June 30, 2025, the company’s major shareholder, Omnipartners Holdings Limited, holds 288 million shares, representing 48.00% of the issued share capital[66] - Mr. Zhou Zhijian holds 288 million shares through Omnipartners Holdings Limited, accounting for 48.00% of the company’s issued share capital[65] - The company has no known direct or indirect competition from its directors or major shareholders as of June 30, 2025[68] Governance and Compliance - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, and confirmed compliance with applicable accounting standards and GEM Listing Rules[80]
中安控股集团(08462) - 2025 - 中期财报