Financial Performance - For the six months ended September 30, 2022, the company reported revenue of $17,086,000, a decrease of 76.8% compared to $73,740,000 in the same period last year[7] - The gross profit for the same period was $511,000, compared to $312,000 in the previous year, indicating a significant improvement in gross margin[7] - The operating loss narrowed to $204,000 from $1,165,000 year-over-year, reflecting a 82.5% reduction in operating losses[7] - The net loss for the period was $214,000, a significant improvement from the net loss of $1,329,000 in the prior year[7] - The company reported a basic and diluted loss per share of $0.04 compared to $0.26 in the previous year, showing an improvement in loss per share[7] - The company recorded a pre-tax loss of $214,000 for the six months ended September 30, 2022, compared to a loss of $1,329,000 for the same period in 2021[32] - The net loss attributable to shareholders decreased by approximately 83.89% compared to the same period last year, driven by increased gross profit and reduced sales and administrative expenses[57] Cash and Assets - Cash and bank balances increased to $10,120,000 from $8,781,000, representing a 15.2% increase[8] - Total assets decreased to $13,953,000 from $24,619,000, a decline of 43.1%[8] - The company's equity decreased to $8,838,000 from $9,052,000, a decrease of 2.4%[8] - The cash flow from operating activities was $564,000, a significant decrease from $31,364,000 in the previous year[11] - As of September 30, 2022, the group's cash and bank deposits amounted to approximately $10.12 million, up from $8.78 million as of March 31, 2022, indicating no significant fluctuations[59] Trade Receivables and Inventory - Trade receivables decreased to $3,833,000 from $14,938,000, a reduction of 74.3%[8] - The company’s cost of inventory for the six months ended September 30, 2022, was $16,575,000, significantly lower than $69,286,000 in the same period of 2021[29] - The company’s total trade receivables and other receivables amounted to $3,833,000 as of September 30, 2022, down from $14,938,000 as of March 31, 2022[35] Expenses and Liabilities - Sales and administrative expenses for the period were approximately $0.74 million, a decrease of $0.19 million compared to $0.93 million in the same period last year, mainly due to reduced employee costs[53] - The group incurred litigation expenses totaling approximately $1,390,000 related to a claim from Landway Investments Limited[46] - The group committed to repaying lease liabilities and interest amounting to $193,000 for the six months ending September 30, 2022[50] - The aging analysis of trade payables as of September 30, 2022, showed trade payables of $3,373,000 and other payables and accrued expenses of $1,323,000[42] Government Support and Subsidies - The company received government subsidies amounting to $19,000 during the six months ended September 30, 2022, under Singapore's "Job Support" scheme[28] Shareholder Information - The company did not declare any interim dividend for the six months ended September 30, 2022, consistent with the previous year[31] - No interim dividend has been recommended for the six months ended September 30, 2022, consistent with the same period last year[65] - As of September 30, 2022, Reignwood International Holdings Company Limited holds 337,465,038 shares, representing 65.76% of the issued share capital[77] - The company did not hold an annual general meeting for shareholders due to delays in completing the audit for the previous fiscal year[85] Corporate Governance - The company has complied with the corporate governance code, with the exception of the separation of roles between the Chairman and CEO during a specific period[82] - The audit committee reviewed the accounting principles and practices adopted by the group and had no objections to the interim financial statements[89] - The company has adopted the standard code of conduct for securities transactions by directors and confirmed compliance during the reporting period[86] - The company will regularly review the effectiveness of its governance structure to ensure it remains suitable for current circumstances[82] Employee Information - The total compensation for key management personnel for the six months ending September 30, 2022, was $130,000, a decrease from $144,000 in the same period last year[49] - The group had a total of 8 full-time employees as of September 30, 2022, an increase from 7 employees as of March 31, 2022[79] Impairment and Recoverability - As of September 30, 2022, there remained $11,064,000 in uncollected amounts, with an impairment loss of the same amount carried over from previous years[39] - The group has recognized a full impairment loss of $11,704,000 on prepaid amounts due to significant uncertainty regarding the recoverability of these amounts[38] Future Plans and Strategies - The group plans to implement strict cost control measures and enhance competitiveness through strengthening existing divisions in response to ongoing economic uncertainties[58] - The group currently has no significant capital expenditure plans and believes it has sufficient liquidity to meet its operational funding needs[61] Stock and Securities - The company did not purchase, sell, or redeem any of its listed securities during the six months ending September 30, 2022[78] - There were no stock options granted, exercised, expired, or canceled during the six months ended September 30, 2022[71] - There were no arrangements made for directors or key executives to acquire shares or debentures of the company or its subsidiaries during the six months ending September 30, 2022[74] - No major shareholders reported any interests or short positions in the company's shares or related securities as of September 30, 2022[76] Trading Performance - For the period ending September 30, 2022, the group reported revenue from coal and other commodity trading of approximately $17.10 million, a decrease of 76.81% or $56.64 million compared to the same period last year[52] - The total sales volume of coal was approximately 0.24 million tons, down from approximately 0.92 million tons in the same period last year[52] - The group has not recorded any bad debts in its coal and other trading businesses to date, reflecting strict control over credit and collection policies[61]
安域亚洲(00645) - 2023 - 中期财报