亿仕登控股(01656) - 2025 - 中期财报

Company Information Company Basic Information ISDN Holdings Limited is a Singapore-incorporated public company listed on SGX and HKEX, with core businesses in technology, management, and engineering solutions - The company's registration number is 200416788Z, with its registered office located at 101 Defu Lane 10, Singapore[5] - The company is listed on the SGX and HKEX Main Boards[17] - Its principal activities include technology consulting, training, and management services, while its subsidiaries focus on motion control, industrial computing, specialized engineering solutions, and hydropower plant construction[17] - The immediate and ultimate holding company is Assetraise Holdings Limited, beneficially owned by Mr. Teo Cher Koon, the company's President and Managing Director, and his spouse, Mdm. Tang Yoke Keng[17] Board of Directors and Committees The Board, chaired by Mr. Tan Soon Liang, includes several directors and operates with key committees to ensure effective corporate governance - Board members include Chairman Mr. Tan Soon Liang, Mr. Teo Cher Koon, Mr. Kong De Yang, Mr. Toh Hsiang-Wen Keith, Mr. Soh Gim Teik, and Ms. Ong Siew Ling[5] - The Audit Committee, Remuneration Committee, Nominating Committee, and Risk Management Committee are all chaired by independent non-executive directors, ensuring independent oversight[5] Condensed Consolidated Statement of Comprehensive Income H1 2025 Financial Performance For H1 2025, the Group's revenue significantly increased, but profit for the period and total comprehensive loss both decreased due to higher other operating expenses, primarily unrealized exchange losses, leading to a corresponding reduction in basic earnings per share Condensed Consolidated Statement of Comprehensive Income (For the six months ended June 30) | Metric | 2025 (S$ thousand) | 2024 (S$ thousand) | Change (S$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 212,895 | 174,573 | 38,322 | 22.0% | | Cost of Sales | (162,367) | (130,180) | (32,187) | 24.7% | | Gross Profit | 50,528 | 44,393 | 6,135 | 13.8% | | Other Operating Income | 1,488 | 1,959 | (471) | -24.0% | | Distribution Costs | (15,099) | (14,381) | (718) | 5.0% | | Administrative Expenses | (19,459) | (19,775) | 316 | -1.6% | | Net Impairment Gain/(Loss) on Financial Assets | 13 | (77) | 90 | -116.9% | | Other Operating Expenses | (7,069) | (690) | (6,379) | 924.5% | | Finance Costs | (2,536) | (2,767) | 231 | -8.3% | | Share of Loss of Associates, Net | (391) | (147) | (244) | 166.0% | | Profit Before Income Tax | 7,475 | 8,515 | (1,040) | -12.2% | | Income Tax | (3,628) | (2,709) | (919) | 33.9% | | Profit for the Period | 3,847 | 5,806 | (1,959) | -33.7% | | Total Comprehensive (Loss)/Income for the Period | (1,813) | 5,953 | (7,766) | -130.5% | | Profit for the Period Attributable to Owners of the Company | 1,286 | 3,781 | (2,495) | -66.0% | | Profit for the Period Attributable to Non-Controlling Interests | 2,561 | 2,025 | 536 | 26.5% | | Basic Earnings Per Share Attributable to Owners of the Company (Singapore cents) | 0.29 | 0.85 | (0.56) | -65.9% | - Revenue increased by 22.0% year-on-year to S$212,895 thousand, primarily driven by growth in industrial automation and renewable energy businesses[10][80] - Gross profit increased by 13.8% to S$50,528 thousand, but the gross profit margin decreased from 25.4% to 23.7%, mainly due to lower profit margins from renewable energy construction revenue[10][102][105] - Profit for the period decreased by 33.7% to S$3,847 thousand, primarily due to a significant increase in other operating expenses, including S$5.3 million in unrealized foreign exchange losses[10][89][110] - Basic earnings per share attributable to owners of the company decreased from 0.85 Singapore cents to 0.29 Singapore cents[10][48] Condensed Consolidated Statement of Financial Position H1 2025 Statement of Financial Position As of June 30, 2025, the Group's total assets slightly increased, with significant growth in non-current service concession receivables and goodwill; total current assets decreased while total current liabilities increased, leading to a lower quick ratio Condensed Consolidated Statement of Financial Position (As of June 30) | Metric | June 30, 2025 (S$ thousand) | December 31, 2024 (S$ thousand) | Change (S$ thousand) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Assets | | | | | | Total Non-Current Assets | 189,765 | 169,527 | 20,238 | 11.9% | | - Service Concession Receivables | 102,144 | 81,654 | 20,490 | 25.1% | | - Goodwill | 14,904 | 12,911 | 1,993 | 15.4% | | Total Current Assets | 233,601 | 246,378 | (12,777) | -5.2% | | - Trade and Other Receivables and Contract Assets | 106,929 | 119,455 | (12,526) | -10.5% | | - Cash and Bank Balances | 56,071 | 56,519 | (448) | -0.8% | | Total Assets | 423,366 | 415,905 | 7,461 | 1.8% | | Equity and Liabilities | | | | | | Total Equity | 245,192 | 247,212 | (2,020) | -0.8% | | Total Non-Current Liabilities | 47,253 | 55,519 | (8,266) | -14.9% | | Total Current Liabilities | 130,921 | 113,174 | 17,747 | 15.7% | | - Bank Borrowings (Current) | 29,731 | 21,227 | 8,504 | 40.1% | | - Trade and Other Payables | 81,380 | 74,709 | 6,671 | 8.9% | | Total Liabilities | 178,174 | 168,693 | 9,481 | 5.6% | | Total Equity and Liabilities | 423,366 | 415,905 | 7,461 | 1.8% | - Total assets increased by 1.8% to S$423,366 thousand, primarily driven by non-current service concession receivables (up 25.1%) and goodwill (up 15.4%)[11] - Total current assets decreased by 5.2%, with trade and other receivables and contract assets decreasing by 10.5%[11][119] - Total current liabilities increased by 15.7%, mainly due to an increase in current bank borrowings and trade and other payables[11][120][123] - The quick ratio decreased from 1.6 times as of December 31, 2024, to 1.3 times as of June 30, 2025[130] Condensed Consolidated Statement of Changes in Equity H1 2025 Changes in Equity For the six months ended June 30