Revenue and Profitability - The group's revenue for the period was approximately SGD 91.0 million, a decrease of about 9.8% compared to SGD 100.9 million in the previous period, primarily due to reduced construction activities as several projects reached completion[13] - Construction revenue accounted for approximately 98.7% of total revenue, amounting to about SGD 89.8 million, while property investment revenue contributed about 1.3%, or approximately SGD 1.2 million[13] - The group reported a profit attributable to owners of the company of approximately SGD 5.3 million, compared to SGD 5.0 million in the previous period[14] - The company's revenue for the six months ended June 30, 2025, was SGD 91,042,024, a decrease of 9.2% compared to SGD 100,907,459 for the same period in 2024[46] - The company reported a pre-tax profit of SGD 6,599,233, an increase of 22.5% compared to SGD 5,389,246 in the previous year[46] - Net profit for the period was SGD 5,330,010, compared to SGD 5,032,687 in 2024, reflecting a growth of 5.9%[46] - Basic and diluted earnings per share increased to 0.67 Singapore cents from 0.63 Singapore cents in the previous year[46] Financial Position - The group maintains a strong financial position with sufficient reserves and liquidity, despite rising operational costs in the construction sector[15] - As of June 30, 2025, the group's cash and cash equivalents amounted to approximately SGD 63.1 million, a decrease of about SGD 15 million from SGD 78.1 million as of December 31, 2024[22] - The group's total equity increased from approximately SGD 63.7 million as of December 31, 2024, to approximately SGD 69.0 million as of June 30, 2025[22] - The group's debt as of June 30, 2025, included approximately SGD 75.9 million in bank loans, down from SGD 77.1 million in 2024[22] - The group's debt-to-equity ratio improved to 1.42 times as of June 30, 2025, compared to 1.60 times as of December 31, 2024[22] - Total assets as of June 30, 2025, amounted to SGD 184,574,219, a slight decrease from SGD 189,277,504 as of December 31, 2024[47] - The company’s total liabilities increased to SGD 80,435,292 as of June 30, 2025, compared to SGD 72,068,964 as of December 31, 2024, marking an increase of approximately 11.5%[47] Real Estate Development - The group has expanded into real estate development, acquiring a 45% stake in Tai Seng Food Point Development Pte. Ltd, marking its entry into the industrial property development sector in Singapore[9] - The real estate development division includes the Food Point @ Tai Seng project, which is currently being redeveloped into a modern food processing facility, with pre-sales starting in mid-February 2025[10] - The group is actively seeking new real estate development opportunities and has entered into a joint venture for a residential land project at Dairy Farm Walk, holding a 10% stake[11] - The group aims to diversify its revenue base through its new real estate development and joint investment initiatives, enhancing long-term profitability predictability[20] - The company made a significant investment of SGD 18.6 million in a joint venture for real estate development, representing 10% equity in the Dairy Farm Walk project[32] - The company has committed to a maximum capital contribution of SGD 20 million to the joint venture, with SGD 18.6 million already contributed[33] Operational Efficiency and Technology - The group has implemented Building Information Modeling (BIM) technology, upgrading from 3D to 5D, and is moving towards Integrated Digital Delivery (IDD) for all ongoing projects[21] - The group introduced construction robotics to enhance productivity and safety, collaborating closely with the Singapore government to promote new technology adoption in the construction industry[21] Employee and Management Information - The group has a total of 282 employees as of June 30, 2025, down from 307 employees in the previous period[23] - Total remuneration for directors and key management personnel increased to SGD 854,990 for the six months ended June 30, 2025, up from SGD 762,594, reflecting an increase of 12.1%[125] Shareholder and Equity Information - Major shareholders include Huada Development holding 51.13125% and Ying Teng Global holding 17.04375% of the shares[28] - The company has adopted a share option plan, with a total of 80 million share options available for issuance, representing 10% of the total shares issued at the time of listing[30] Cash Flow and Investment Activities - Net cash generated from operating activities for the six months ended June 30, 2025, was SGD 6,099,278, a significant recovery from a net cash outflow of SGD 78,807,835 in the previous year[51] - The company’s investment activities resulted in a net cash outflow of SGD 25,388,866 for the six months ended June 30, 2025, compared to a net cash inflow of SGD 2,068,591 in the same period of 2024[53] Compliance and Regulatory Information - The financial statements are prepared in accordance with IAS 34, and should be read in conjunction with the audited financial statements for the year ended December 31, 2024[58] - The group has applied new and revised IFRSs effective from January 1, 2025, which may significantly impact the disclosures in the interim financial statements[59] - The company has not early adopted new IFRSs that are relevant but not yet effective, which may affect the consolidated financial position and performance in future periods[60] Other Financial Metrics - The company recognized material costs of SGD 16,347,759 as service costs, a decrease from SGD 16,981,184 in the previous period, representing a reduction of about 3.7%[88] - The total cost of subcontractor services recognized as service costs was SGD 55,355,566, down from SGD 67,355,232 in the previous period, representing a decrease of approximately 17.8%[87] - Interest expenses decreased to SGD 167,704 from SGD 249,952, reflecting a reduction of 32.8%[85] - The income tax expense for the period was SGD 1,269,223, compared to SGD 356,559 in the previous year, indicating a substantial increase due to higher taxable profits[86]
BHCC HOLDING(01552) - 2025 - 中期财报