Financial Performance - For the six months ended June 30, 2023, total revenue was RM 34,959,000, representing a 67.5% contribution from major customers[8]. - The basic loss per share for the six months ended June 30, 2023, was RM (0.18), compared to RM (0.02) for the same period in 2022[44]. - The Group's net loss attributable to equity holders for the six months ended June 30, 2023, was RM (4,318,000), compared to RM (401,000) in the previous year[44]. - Total revenue for the six months ended June 30, 2023, was approximately RM45.9 million, a decrease from RM51.8 million for the same period in 2022, representing a decline of about 3.6%[157]. - Gross profit for the six months ended June 30, 2023, was approximately RM9.4 million, a decrease of about RM1.2 million or 11.1% from RM10.6 million in the same period of 2022[161]. - The Group reported a loss of approximately RM4.0 million for the six months ended June 30, 2023, compared to a loss of about RM17,000 in the same period of 2022[167]. - The loss for the period amounted to approximately RM4.0 million for the six months ended June 30, 2023, compared to a loss of approximately RM17,000 for the same period in 2022[185]. Revenue Breakdown - Revenue from outsourced document management services accounted for approximately 83.5% of total revenue for the six months ended June 30, 2023, up from 73.8% in the same period of 2022[159]. - Revenue from outsourced insurance risk analysis and marketing services decreased to approximately RM4.5 million, representing about 9.7% of total revenue for the six months ended June 30, 2023, down from approximately RM10.9 million or 21.1% in the same period of 2022[159]. - Revenue from the distribution and sales of medical equipment represented approximately 1.0% of total revenue for the six months ended June 30, 2023, amounting to approximately RM0.5 million, up from RM0.1 million or 0.2% in the same period of 2022[161]. - Revenue from enterprise software solutions increased by approximately RM0.1 million or 3.6% from RM2.6 million for the six months ended 30 June 2022 to RM2.7 million for the six months ended 30 June 2023[181]. Expenses and Costs - Staff costs increased to RM 10,627,000 for the six months ended June 30, 2023, up from RM 6,220,000 in 2022, reflecting a significant rise in employee-related expenses[41]. - Administrative expenses increased by approximately RM2.6 million or 26.8% from RM9.9 million for the six months ended 30 June 2022 to RM12.5 million for the six months ended 30 June 2023, primarily due to increased staff costs[183]. - Cost of sales decreased by approximately RM4.8 million or 11.5% from RM41.2 million for the six months ended June 30, 2022, to RM36.4 million for the same period in 2023[161]. Assets and Liabilities - The Group's total non-current assets as of June 30, 2023, were RM 33,920,000, an increase from RM 31,757,000 as of December 31, 2022[30]. - Total assets decreased to RM98,403 thousand from RM111,760 thousand as of December 31, 2022, reflecting a decline of approximately 12%[108]. - Total liabilities decreased from RM 23,901,000 as of December 31, 2022, to RM 13,153,000 as of June 30, 2023, representing a reduction of approximately 45%[95]. - Current liabilities decreased significantly to RM7,164 thousand from RM16,898 thousand, indicating a reduction of approximately 58%[108]. - The Group's total equity as of June 30, 2023, was RM 85,250,000, down from RM 87,859,000 as of December 31, 2022, indicating a decrease of approximately 3%[95]. Cash Flow and Liquidity - Cash and cash equivalents amounted to RM 37,931,000, compared to RM 9,916,000 in the previous period[79]. - The Group's cash and bank balances were approximately RM37.9 million as of June 30, 2023, down from approximately RM53.9 million as of December 31, 2022[187]. - The Group maintained a healthy liquidity position and did not use any risk hedging tools for the six months ended June 30, 2023[172]. - The Group's current ratio as of June 30, 2023, was approximately 9.0 times, up from approximately 4.7 times as of December 31, 2022, indicating a strong liquidity position[188]. Corporate Governance and Management - The company has established an Audit Committee consisting of three independent non-executive Directors to ensure compliance with governance standards[60]. - The company has maintained a high standard of corporate governance, with ongoing reviews of the Board's structure and effectiveness[59]. - Mr. Ma has been appointed as the new chairman and CEO since May 1, 2023, following Mr. Ling's resignation, focusing on daily operations and strategic business plans[75]. Strategic Development and Future Plans - The company is engaged in the operation of outsourced insurance risk analysis services and medical equipment distribution, with plans for strategic business development in the PRC[75]. - The Group aims to develop advanced internet cloud technology and big data analysis for the insurance industry in the PRC, focusing on sustainable growth[136]. - The Group plans to pursue strategic acquisitions and business opportunities to expand its market presence regionally[128]. - The Group is considering partnerships with AI technology firms to integrate AI and machine learning into its applications[134]. - The Group has expanded its presence in China since July 2021, providing outsourced insurance risk analysis and marketing services, and began distributing and selling medical equipment in China from April 2022[138]. Technology and Innovation - The upgraded Streamline Suite platform will integrate live streaming and video technology, enhancing customer interaction capabilities[132]. - The Group has allocated RM4.7 million (approximately HK$8.8 million) from the Share Offer proceeds to acquire livestreaming and video technology, enhancing its Streamline Suite platform for real-time customer interactions[154]. - Future plans include integrating advanced capabilities such as customer data analytics and artificial intelligence (AI) to improve the efficiency of the Streamline Suite platform[154]. - The integration of livestreaming and video technology capabilities is expected to be fully completed by the end of June 2024, enhancing customer engagement[155].
C-LINK SQ-NEW(01463) - 2023 - 中期财报