Financial Performance - The group's revenue for the reporting period was SGD 34.0 million, an increase of 135% compared to the same period last year[23]. - Gross profit for the reporting period was SGD 11.6 million, reflecting a 175% increase year-on-year[23]. - Profit for the reporting period reached SGD 5.6 million, a significant increase of 773% compared to the previous year[23]. - Total comprehensive income for the period amounted to SGD 5.9 million, compared to SGD 0.9 million in the previous year[25]. - Basic and diluted earnings per share were SGD 0.55, up from SGD 0.06 in the prior year[25]. - The company reported a significant increase in other income, rising from SGD 0.38 million to SGD 0.12 million[25]. - The company reported a pre-tax profit of SGD 6,501, a significant increase from SGD 976 in the previous year, reflecting a growth of approximately 564%[33]. - The net profit for the same period surged by 773%, primarily driven by the performance of Majestic State International Limited (MSIL), which contributed significantly to the group's revenue[132]. - The company reported a profit attributable to shareholders of SGD 4,434,000 for the six months ended December 31, 2021, compared to SGD 476,000 for the same period in 2020, representing an increase of 830%[100]. Revenue Breakdown - Revenue from search engine marketing services increased from approximately SGD 9.0 million to SGD 10.1 million, while revenue from online platform management services surged from approximately SGD 3.0 million to SGD 21.0 million[23]. - Revenue for the six months ended December 31, 2021, was SGD 34,026, up from SGD 14,475 in the same period last year, representing an increase of about 135%[41]. - Revenue from search engine marketing services was SGD 10,055,000, up 11.6% from SGD 9,008,000 in the previous year[43]. - Revenue from online platform management services surged to SGD 20,994,000 from SGD 3,347,000, representing a significant increase of 527.5%[57]. - The group reported a segment profit of SGD 11,586,000 for the six months ended December 31, 2021, compared to SGD 4,211,000 for the same period in 2020, reflecting a growth of 175.5%[57]. - The group’s external sales and segment revenue from creative and technical services reached SGD 2,328,000, an increase from SGD 1,280,000 in the previous year[57]. - Social media marketing services generated revenue of SGD 649,000, a decrease of 22.6% from SGD 840,000 in the prior year[57]. Expenses and Costs - The total expenses, including sales and administrative costs, increased but were offset by the substantial rise in revenue[25]. - The service costs rose from approximately SGD 10.26 million to about SGD 22.44 million, aligning with the revenue growth[141]. - Sales expenses increased approximately 152.9% from about SGD 0.8 million to about SGD 2.0 million, primarily due to higher marketing-related expenses aligned with revenue growth[145]. - General and administrative expenses rose from approximately SGD 2.9 million to about SGD 3.3 million, mainly due to increased rental expenses of about SGD 0.6 million from MSIL[146]. - Employee costs totaled 3,620 thousand Singapore dollars for the six months ended December 31, 2021, compared to 2,451 thousand Singapore dollars in the same period of 2020, an increase of 47.7%[97]. Assets and Liabilities - The company’s cash and cash equivalents decreased by SGD 4,406, ending the period at SGD 10,140, compared to SGD 11,169 at the beginning of the period[33]. - Non-current assets, including property and equipment, totaled SGD 265, down from SGD 278 as of June 30, 2021[28]. - Current assets amounted to SGD 29,443, slightly down from SGD 29,510 in the previous period[28]. - The total equity attributable to owners of the company increased to SGD 40,233 from SGD 35,571, marking a growth of approximately 13%[28]. - The company’s total liabilities decreased to SGD 24,345 from SGD 23,289, indicating a reduction in financial obligations[28]. - Total trade receivables increased to SGD 17,982,000 as of December 31, 2021, from SGD 17,121,000 as of June 30, 2021, reflecting a growth of 5.04%[107]. - The total amount of cash and cash equivalents decreased to SGD 10,140,000 as of December 31, 2021, down from SGD 14,281,000 as of June 30, 2021, a decline of 29%[113]. - Contract liabilities at the end of the period were SGD 4,276,000, down from SGD 4,779,000 at the end of June 30, 2021, indicating a decrease of 10.5%[119]. - The total amount of trade and other payables decreased to SGD 15,417,000 as of December 31, 2021, from SGD 15,570,000 as of June 30, 2021[114]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and complied with all applicable provisions during the reporting period, except for the separation of roles between the Chairman and the CEO[178]. - The appointment of the current company secretary was processed via written resolution rather than a board meeting, which is contrary to the corporate governance code[179]. - The board believes that the current arrangement of having Ms. Zhang hold both the Chairman and CEO positions is beneficial for the group and its shareholders[178]. - The company is focused on enhancing its corporate governance practices to align with the corporate governance code and maintain high standards[179]. - The audit committee has been established with a written terms of reference compliant with corporate governance codes, consisting of three independent non-executive directors[182]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended December 31, 2021, and confirmed compliance with applicable listing rules[183]. Future Outlook - The group anticipates continued growth in online platform operations, driven by increased e-commerce activities in the region[48]. - The group is optimistic about the business environment due to the easing of COVID-19 restrictions and plans to enhance and diversify its operations moving forward[132].
秀商时代控股(01849) - 2022 - 中期财报