Financial Performance - Revenue for the six months ended June 30, 2023, was SGD 66,756,000, an increase of 57.2% compared to SGD 42,473,000 in the same period of 2022[7] - Gross profit for the same period was SGD 4,238,000, representing a gross margin of 6.35%[7] - Net profit attributable to owners for the period was SGD 1,739,000, up 30.7% from SGD 1,331,000 in the prior year[7] - Basic earnings per share for the period was 0.17 cents, compared to 0.13 cents in the previous year[7] - The company reported a total segment profit before tax of SGD 2,278,000 for the six months ended June 30, 2023, compared to SGD 1,600,000 in the same period of 2022, marking an increase of about 42%[24][25] - The company reported a pre-tax profit of SGD 1,739,000 for the six months ended June 30, 2023, compared to SGD 1,331,000 for the same period in 2022, marking a growth of 30.6%[40] - Net profit for the period was approximately SGD 1.7 million, a year-on-year increase of about 30.7%, with a net profit margin of approximately 2.6%[95] Assets and Liabilities - Total assets as of June 30, 2023, amounted to SGD 114,153,000, an increase from SGD 110,535,000 at the end of 2022[9] - Current assets decreased to SGD 71,551,000 from SGD 78,054,000, primarily due to a reduction in trade receivables[9] - The company reported a net asset value of SGD 90,549,000 as of June 30, 2023, compared to SGD 88,783,000 at the end of 2022[11] - The total liabilities of the group increased to SGD 23,604,000 as of June 30, 2023, compared to SGD 21,752,000 as of December 31, 2022, representing an increase of 8.5%[28] - The company’s total borrowings and lease liabilities amounted to approximately SGD 6.3 million, a decrease from SGD 7.2 million as of December 31, 2022, with a debt-to-equity ratio of approximately 0.07[98] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2023, was SGD 8,604,000, a significant increase from SGD 1,709,000 in the same period of 2022, representing a growth of approximately 404%[16] - Net cash flow from operating activities for the same period was SGD 8,322,000, compared to SGD 1,714,000 in 2022, indicating a growth of about 385%[16] - Cash flow used in investing activities was SGD 9,738,000, compared to SGD 2,041,000 in the previous year, reflecting a substantial increase in investment outflows[16] - The company invested SGD 3,140,000 in property, plant, and equipment during the period, up from SGD 797,000 in 2022, indicating a significant increase in capital expenditure[16] - The company has committed to capital expenditures for property, plant, and equipment amounting to SGD 911,000 as of June 30, 2023, down from SGD 1,419,000 as of December 31, 2022[56] Revenue Segmentation - The earthworks and supporting services segment contributed approximately 62.2% of total revenue, amounting to about SGD 41.5 million, an increase from approximately SGD 38.9 million in the previous year[77] - The general building engineering segment saw revenue rise from approximately SGD 3.6 million in the previous year to about SGD 25.2 million during the reporting period[79] - The company secured 13 projects during the review period, with a total contract value exceeding SGD 102.4 million, benefiting from a more favorable business environment as the impact of COVID-19 waned[75] - The company participated in 79 ongoing earthworks projects and secured 10 new projects with a total contract value of approximately SGD 46.3 million in the first half of 2023[77] Cost Management and Operational Efficiency - The company is implementing stricter cost control measures in response to rising labor and material costs, including stabilizing diesel prices and introducing eco-friendly machinery[73] - The company has implemented a series of measures to retain skilled labor, including competitive compensation and attractive benefits, to enhance operational efficiency[83] - Administrative and other operating expenses increased by approximately 10.7% to about SGD 3.5 million, mainly due to higher labor costs[90] Corporate Governance - The company adhered to all applicable corporate governance code provisions throughout the reporting period[135] - The company has adopted all code provisions as its own corporate governance practices[134] - The audit committee consists of three independent non-executive directors, and the external auditor conducted agreed-upon procedures for the interim financial statements for the six months ended June 30, 2023[140] Shareholder Information - As of June 30, 2023, Mr. Lin holds 21,380,000 shares and 529,125,000 related shares, totaling 550,505,000 shares, which represents approximately 53.11% of the issued shares[107] - The total number of shares available for issuance under the share option scheme is 100,000,000 shares, accounting for about 9.6% of the issued shares as of the report date[114] - The total number of stock options granted was 99,952,000, with no options exercised, lapsed, or cancelled during the reporting period[123]
川控股(01420) - 2023 - 中期财报