Financial Performance - Revenue for the first half of 2022 was 190,707 thousand SGD, a decrease of 12.1% compared to 217,158 thousand SGD in the same period of 2021[6] - Gross profit for the first half of 2022 was 54,078 thousand SGD, down from 58,193 thousand SGD in the previous year, reflecting a gross margin of 28.4%[6] - Net profit for the period was 16,133 thousand SGD, a decline of 16.5% from 19,388 thousand SGD in the first half of 2021[6] - Total comprehensive income for the period was 13,738 thousand SGD, compared to 21,151 thousand SGD in the same period last year, representing a decrease of 35.1%[6] - The company reported a basic and diluted earnings per share of 2.52 SGD for the first half of 2022, down from 2.79 SGD in the same period of 2021[6] - The company reported a net profit of SGD 16.1 million for the six months ended June 30, 2022, compared to SGD 19.4 million in the prior year, representing a decrease of 17.0%[22] - The group reported a 9.0% decline in net profit attributable to shareholders, primarily due to the revenue drop, but cost control measures helped mitigate the impact[87] Assets and Liabilities - Total assets as of June 30, 2022, amounted to 436,254 thousand SGD, an increase from 415,265 thousand SGD at the end of 2021[8] - Current assets increased to 270,768 thousand SGD from 257,719 thousand SGD, primarily driven by higher inventory levels[8] - Total equity as of June 30, 2022, was 246,975 thousand SGD, a decrease of 2,395 thousand SGD compared to the beginning of the year[9] - The company’s total liabilities decreased to 197,136 thousand SGD from 206,250 thousand SGD at the beginning of the year[9] - The company’s liabilities totaled SGD 176.0 million as of June 30, 2022, compared to SGD 168.3 million at the end of the previous year, reflecting an increase of 4.1%[22] Cash Flow and Liquidity - Cash flow from operating activities before tax profit was 20,713 thousand SGD, down from 26,066 thousand SGD in the same period last year, representing a decrease of approximately 20.5%[11] - The company reported a net cash inflow from operating activities of 16,258 thousand SGD, compared to a net outflow of 727 thousand SGD in the same period last year[11] - Cash and bank balances rose to 75,731 thousand SGD, up from 61,681 thousand SGD, indicating improved liquidity[8] - Cash and cash equivalents increased by 14,070 thousand SGD, reaching a total of 73,029 thousand SGD at the end of the period[12] - The group's cash and bank balances as of June 30, 2022, totaled SGD 75.731 million, compared to SGD 61.681 million as of December 31, 2021, reflecting a significant increase[124] Operational Highlights - The company plans to focus on market expansion and new product development to drive future growth[5] - The company plans to continue focusing on expanding its engineering solutions and exploring new markets to drive future growth[22] - The group continues to see long-term demand for industrial automation solutions in Asia, driven by the need to alleviate labor cost pressures and enhance manufacturing capabilities[86][92] - The group is investing in expanding its product offerings into software, systems, and IoT connectivity to deepen market share[93] - The revenue from small hydropower stations in Indonesia reached SGD 6.1 million in the first half of 2022, contributing positively to overall performance[94][97] Shareholder Information - The board of directors did not recommend an interim dividend for the first half of 2022, consistent with the previous year[140] - The company declared a final tax-exempt dividend of 1.45 cents per share for the fiscal year, totaling 6,360 thousand SGD, compared to 0.8 cents per share and 3,483 thousand SGD in 2021[58] - As of June 30, 2022, the company had a total of 438,638,533 shares issued, with Mr. Zhang holding 141,189,015 shares, representing approximately 32.19% of the issued share capital[144] Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting processes[164] - The company complies with the Singapore Code of Corporate Governance and the Hong Kong Corporate Governance Code, enhancing shareholder value[160] - The financial data for the period ending June 30, 2022, has not been audited but has been reviewed by the audit committee[164] - The company has adopted internal compliance rules in accordance with the Singapore Exchange Listing Manual and Standard Code[161] Employee and Operational Costs - Employee costs (excluding directors) rose to 18,904 thousand SGD in 2022 from 16,318 thousand SGD in 2021, an increase of 16.0%[57] - Total administrative expenses increased to 1,891 thousand SGD in 2022 from 1,764 thousand SGD in 2021, representing a rise of 7.2%[57] - Distribution costs slightly increased by approximately SGD 0.2 million or 1.6% to SGD 14.9 million, mainly due to higher salaries and related expenses[99] - Administrative expenses rose by approximately SGD 0.7 million or 3.8% to SGD 19.5 million, driven by increased salaries and related costs due to reduced government subsidies[100]
亿仕登控股(01656) - 2022 - 中期财报