Financial Performance - Revenue for the six months ended June 30, 2023, was MYR 40,403,890, a decrease of 18.25% compared to MYR 49,421,471 in the same period of 2022[9] - The company reported an operating loss of MYR 3,447,941 for the first half of 2023, compared to a loss of MYR 201,206 in the prior year, indicating a significant increase in losses[9] - The total loss attributable to owners of the company for the first half of 2023 was MYR 4,556,561, compared to MYR 651,929 in the same period of 2022, reflecting a substantial increase in losses[9] - The company reported a comprehensive loss of MYR 392,229 for the first half of 2023, compared to a comprehensive income of MYR 2,699,451 in the same period of 2022[13] - Basic and diluted loss per share for the first half of 2023 was MYR 0.42, compared to MYR 0.06 in the same period of 2022[13] - The group reported a net loss attributable to equity shareholders of MYR (4,556,561) for the six months ended June 30, 2023, compared to a loss of MYR (651,929) in the same period of 2022[48] - Other income for the six months ended June 30, 2023, was MYR 275,608, significantly down from MYR 2,412,182 in the previous year[41] - The company recorded a loss attributable to equity shareholders of approximately 4.56 million Malaysian Ringgit in the first half of 2023, compared to a loss of about 0.65 million Malaysian Ringgit in the same period of 2022[81] Financial Position - Cash and cash equivalents increased by 23.57% to MYR 5,312,995 as of June 30, 2023, up from MYR 4,299,479 at the end of 2022[9] - Total borrowings decreased by 20.96% to MYR 30,188,959 from MYR 38,194,623 at the end of 2022[9] - Total assets decreased from MYR 173,072,500 as of December 31, 2022, to MYR 163,544,388 as of June 30, 2023, representing a decline of approximately 5.3%[16] - Current assets decreased from MYR 53,113,984 to MYR 46,992,413, a reduction of about 11.5%[16] - Total liabilities decreased from MYR 55,520,280 to MYR 46,384,397, reflecting a decrease of approximately 16.5%[17] - Total equity attributable to shareholders decreased slightly from MYR 117,489,083 to MYR 117,097,370, a decline of about 0.33%[20] - The company's debt ratio was approximately 0.284 times as of June 30, 2023, compared to 0.321 times on December 31, 2022[92] Cash Flow and Investments - Cash generated from operating activities increased significantly to MYR 9,371,914 from MYR 1,332,252 year-on-year[22] - The company invested MYR 1,680,457 in property, plant, and equipment during the first half of 2023, down from MYR 4,506,783 in the same period of 2022[25] - The company reported a net cash outflow from financing activities of MYR 11,029,127 for the first half of 2023, compared to MYR 2,289,125 in the same period of 2022[25] - Capital expenditures for the first half of 2023 were approximately 0.44 million Malaysian Ringgit, significantly lower than about 7.02 million Malaysian Ringgit in the same period of 2022[94] Operational Metrics - The gross profit margin improved to 19.7% in the first half of 2023, up from 17.0% in the same period of 2022, indicating better cost management[10] - The gross profit for the first half of 2023 decreased by approximately 0.45 million MYR or 5.35%, with a gross margin of 19.72% compared to 17.04% in the first half of 2022[71] - Sales costs decreased by approximately 20.90% or 8.57 million MYR to about 32.43 million MYR in the first half of 2023, primarily due to reduced sales and cost control measures[71] - The company recorded a cost of sold inventory of MYR 32,434,833 for the six months ended June 30, 2023, down from MYR 40,999,758 for the same period in 2022[54] Shareholder Information - Tang Koon Fook holds 567,000,000 shares, representing 52.5% of the company, while Lee Sieng Poon holds 243,000,000 shares, representing 22.5%[111] - Major shareholders include TYJ and Trinity, holding 52.5% and 22.5% of the company shares, respectively[116] - The board of directors decided not to declare an interim dividend for the first half of 2023 during the meeting held on August 28, 2023[104] Corporate Governance - The company has complied with all mandatory disclosure requirements of the corporate governance code in the first half of 2023[122] - The company has three independent non-executive directors, meeting the requirement that at least one possesses appropriate professional qualifications or financial management knowledge[123] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited interim results for the first half of 2023 and agreed with the accounting principles adopted by the group[125] - All directors confirmed compliance with the standard code of conduct for securities trading during the first half of 2023[124] Employee Information - As of June 30, 2023, the company had 354 employees, an increase from 325 employees as of June 30, 2022[105] - The company has adopted a share option scheme effective from July 11, 2017, to incentivize eligible participants to enhance performance efficiency and retain talent[105] - No share options were granted, exercised, or canceled in the first half of 2023, and there are no unexercised options as of June 30, 2023[108]
椰丰集团(01695) - 2023 - 中期财报