Financial Performance - For the six months ended June 30, 2025, the company's revenue was SGD 5,826,000, a decrease of 21.2% compared to SGD 7,392,000 for the same period in 2024[8] - Gross profit for the same period was SGD 4,112,000, down 21.5% from SGD 5,246,000 year-over-year[8] - The company reported a pre-tax loss of SGD 825,000, compared to a loss of SGD 796,000 in the previous year, indicating a slight increase in losses[8] - The net loss attributable to equity holders for the period was SGD 835,000, compared to SGD 804,000 in the prior year, reflecting a 3.9% increase in losses[8] - The total comprehensive loss for the six months was SGD (745,000), compared to a loss of SGD (2,630,000) for the same period in 2024[10] - The company reported a net loss of SGD (835,000) for the period, which is an improvement from a loss of SGD (2,547,000) in the previous year[10] Revenue Breakdown - The restaurant business generated revenue of SGD 3,685,000, down from SGD 5,141,000, reflecting a decline of 28.3%[19] - The handmade bakery segment reported revenue of SGD 2,141,000, with external customer revenue of SGD 2,135,000 from bread and pastry sales[21] - Total revenue for the six months ended June 30, 2024, was SGD 7,392,000, with SGD 5,141,000 from the restaurant business and SGD 2,251,000 from the artisanal bakery segment[22] Cash Flow and Liquidity - The company's cash and cash equivalents decreased significantly to SGD 221,000 from SGD 534,000, highlighting liquidity challenges[9] - Net cash flow from operating activities for the six months was SGD 2,046,000, a decrease of 18.4% from SGD 2,508,000 in the previous year[11] - Cash and cash equivalents decreased by SGD 330,000, ending at SGD (389,000) compared to SGD 358,000 at the end of June 2024[11] - As of June 30, 2025, the group held cash and cash equivalents of approximately SGD 0.2 million, down from SGD 0.5 million as of December 31, 2024[53] Expenses and Cost Management - The company incurred employee benefits expenses of SGD 2,090,000, down from SGD 3,008,000, indicating cost-cutting measures[8] - Employee costs decreased to SGD 2,090,000 from SGD 3,008,000 year-on-year, reflecting a reduction of approximately 30.5%[24] - Employee benefits expenses decreased by approximately SGD 0.9 million or 30.0% to SGD 2.1 million for the six months ended June 30, 2025, mainly due to a reduction in operating outlets[50] Assets and Liabilities - Total non-current assets as of June 30, 2025, amounted to SGD 7,447,000, an increase from SGD 6,883,000 as of December 31, 2024[9] - Current liabilities increased to SGD 12,689,000 from SGD 11,197,000, indicating a rise in short-term financial obligations[9] - The total equity attributable to equity holders was reported at SGD (6,850,000), worsening from SGD (6,105,000) in the previous year[9] - The group reported a net cash overdraft of SGD 610,000 as of June 30, 2024, compared to SGD 593,000 at the end of the previous year[36] Strategic Actions - The company closed 6 underperforming restaurants in Singapore and terminated 2 loss-making bakeries to curb cash outflow and protect financial health[42] - The company is focusing on improving the performance, operational efficiency, and profitability of existing bakeries and restaurants[42] - The company is actively managing cash flow and has adopted a prudent scaling-back strategy in response to market conditions[43] - The company is enhancing cost control and optimizing menu design to strengthen brand positioning in sustainable growth markets[42] Shareholder Information - The board of directors did not recommend any interim dividend for the six months ended June 30, 2025, consistent with the previous period[65] - Liu Wan-Zhen, the executive director and CEO, holds a beneficial interest in 19,500,000 shares, representing approximately 43.9% of the company's shares as of June 30, 2025[66] - Major shareholders, including Net Heart Rehabilitation (International), hold 90,500,000 shares, representing approximately 18.1% of the company's shares as of June 30, 2025[69] Governance and Compliance - The company has complied with the corporate governance code principles and applicable code provisions as of June 30, 2025[75] - The audit committee was established in accordance with GEM Listing Rule 5.28, consisting of independent non-executive directors[77] - The group did not enter into any related party transactions during the six months ended June 30, 2025[70] Other Information - There were no significant events after the reporting period up to the date of this report[64] - The company did not purchase, sell, or redeem any of its listed securities during the six months ended June 30, 2025[71] - The company has not granted any share options since the adoption of the share option scheme on April 4, 2018, up to June 30, 2025[73] - There were no significant investments, acquisitions, or disposals of subsidiaries or associates during the six months ended June 30, 2025[79] - The company has no specific plans for significant investments or acquisitions of capital assets as of the report date[80]
聚利宝控股(08527) - 2025 - 中期财报