Revenue Performance - The group's revenue for the six months ended June 30, 2022, was approximately SGD 44.7 million, a decrease of about SGD 3.4 million or 7.0% compared to approximately SGD 48.1 million for the same period in 2021[7]. - Revenue from the US furniture sales segment decreased from approximately SGD 32.6 million to approximately SGD 30.6 million, reflecting ongoing supply chain challenges and rising material costs[10]. - The Singapore furniture sales segment recorded an increase in revenue from approximately SGD 10.4 million to approximately SGD 10.7 million, representing a growth of 2.7% due to the lifting of COVID-19 restrictions[10]. - The interior design segment's revenue decreased by 33.4% from approximately SGD 5.0 million to approximately SGD 3.3 million, attributed to a reduction in projects in Singapore and Malaysia[11]. - Overall, the decrease in revenue was primarily due to declines in the interior design and US furniture sales segments, partially offset by increases in the furniture sales division[18]. - Total revenue for the six months ended June 30, 2022, was impacted by a cost of goods sold amounting to 29,884,000 SGD, down from 31,429,000 SGD in the previous year, indicating a reduction of about 4.9%[113]. - The company reported a total of SGD 41,370,000 in customer contract revenue for the six months ended June 30, 2022, with SGD 30,647,000 coming from US furniture sales[107]. - The revenue from Singapore for the same period was SGD 13,878,000, while Malaysia and Brunei contributed SGD 173,000[107]. Profitability and Financial Performance - The group's profit decreased by approximately 46.3% from about SGD 3.5 million for the six months ended June 30, 2021, to about SGD 1.9 million for the six months ended June 30, 2022, mainly due to a reduction in other income and gains by approximately SGD 1.2 million from government COVID-19 relief programs and insurance claims[21]. - Gross profit for the same period was SGD 13.200 million, down from SGD 13.928 million, reflecting a gross margin of 29.5%[55]. - The company reported a net profit of SGD 1.873 million for the six months ended June 30, 2022, compared to SGD 3.489 million in the previous year, representing a decline of 46.2%[55]. - The total comprehensive income for the period was SGD 2.750 million, down from SGD 3.835 million in the prior year[58]. - The group's gross profit for the six months ended June 30, 2022, was 1,625,000 SGD, a decrease from 2,975,000 SGD for the same period in 2021, reflecting a decline of approximately 45.4%[118]. Cash Flow and Liquidity - The group held cash and cash equivalents totaling approximately SGD 28.5 million as of June 30, 2022, compared to approximately SGD 40.7 million as of December 31, 2021[22]. - The cash and cash equivalents decreased significantly to SGD 28,479,000 from SGD 40,662,000, a decline of 30.1%[60]. - Operating cash flow for the six months ended June 30, 2022, was a net outflow of SGD 10,086,000, compared to an inflow of SGD 7,415,000 in the previous year[73]. - The company’s financing activities resulted in a net cash outflow of SGD 2,159,000, compared to SGD 2,746,000 in the prior period[76]. - Cash and cash equivalents decreased by SGD 5,618,000, resulting in a balance of SGD 14,304,000 at the end of the reporting period, down from SGD 40,962,000[76]. Assets and Liabilities - As of June 30, 2022, the total borrowings of the group were approximately SGD 43,000, down from approximately SGD 55,000 as of December 31, 2021[22]. - The total assets as of June 30, 2022, amounted to SGD 102,279,000, compared to SGD 100,210,000 as of December 31, 2021, indicating a growth of approximately 2%[98]. - Total liabilities increased to SGD 48,132,000 as of June 30, 2022, from SGD 45,280,000 at the end of 2021, reflecting a rise of about 6.1%[98]. - The net asset value decreased to SGD 54,147,000 from SGD 54,930,000, a decline of 1.42%[63]. - The total liabilities under "Other Payables and Accrued Expenses" amounted to SGD 16,316,000, an increase of 24.5% from SGD 13,091,000 as of December 31, 2021[137]. Shareholder Information - The total issued and paid-up capital remained at 2,000,000,000 shares with a par value of HK$0.01 per share, unchanged from December 31, 2021[140]. - As of June 30, 2022, the company had a total issued share capital of SGD 3,453,000, consistent with the previous year[140]. - The company’s major shareholders include Mr. Ruan Youren and Ms. Wee Ai Quey, each holding 900,000,000 shares, representing 45% of the total issued shares[149]. - Non-executive director Mr. Gao Quantai directly holds 300,000,000 shares, equivalent to 15% of the total issued shares[150]. - The total number of issued shares as of June 30, 2022, was 2,000,000,000 shares, with no other significant changes reported among directors or key executives[151]. Corporate Governance - The board decided not to declare any interim dividend for the period ended June 30, 2022[39]. - The company has complied with the corporate governance code, except for the separation of roles between the Chairman and CEO as per code provision C.2.1[171]. - The audit committee consists of five members, including non-executive and independent non-executive directors, ensuring proper oversight of financial reporting[174]. - The company has established written guidelines for securities trading for employees who may hold unpublished inside information, adhering to the standards set forth in the listing rules[172]. - The company will continue to review its corporate governance policies to ensure alignment with best practices and recent developments[171].
设计都会(01545) - 2022 - 中期财报