Financial Performance - Total revenue increased by approximately 18.9% from about 167.7 million THB in H1 2022 to about 199.4 million THB in H1 2023, primarily due to revenue from a new BAAC project amounting to 107.6 million THB[9] - Gross profit for H1 2023 was approximately 40.3 million THB, representing a gross margin of 20.2%, compared to a gross profit of about 21.7 million THB and a margin of 13.0% in the same period last year[10] - The company recorded a profit of approximately 0.9 million THB for H1 2023, a significant improvement from a loss of about 16.4 million THB in the same period last year[15] - Revenue for the six months ended June 30, 2023, was THB 199,373,000, an increase of 18.86% compared to THB 167,744,000 in the same period of 2022[56] - Gross profit for the same period was THB 40,311,000, representing a significant increase from THB 21,740,000, marking a growth of 85.00%[56] - The company reported a profit attributable to shareholders of THB 898,000 for the first half of 2023, a turnaround from a loss of THB 16,417,000 in the same period of 2022[56] - Operating cash flow for the six months ended June 30, 2023, was THB 21,982,000, compared to a cash outflow of THB 133,312,000 in the previous year[61] - The company has reported a significant reduction in financial costs, decreasing from THB 26,985,000 in 2022 to THB 24,145,000 in 2023[56] - The company’s basic and diluted earnings per share improved to THB 0.22 for the first half of 2023, compared to a loss of THB 4.10 per share in the same period of 2022[56] Assets and Liabilities - Current assets increased to approximately 331.3 million THB as of June 30, 2023, from about 154.1 million THB at the end of 2022, mainly due to ongoing costs related to a new BAAC project[16] - As of June 30, 2023, the group's non-current assets amounted to approximately 739.8 million THB, a decrease from 846.9 million THB as of December 31, 2022, primarily due to a reduction in non-current trade receivables from customer F related to ATM projects by approximately 85.7 million THB[19] - Current liabilities decreased to approximately 527.4 million THB as of June 30, 2023, from about 679.3 million THB at the end of 2022, primarily due to a reduction in bank and other borrowings[18] - The group's non-current liabilities increased to approximately 684.0 million THB as of June 30, 2023, from 614.8 million THB as of December 31, 2022, mainly due to an increase in bank and other borrowings by approximately 95.4 million THB for financing the new BAAC project and shareholder loans of about 50.0 million THB[20] - The group's debt-to-equity ratio was approximately 88.7% as of June 30, 2023, down from 101.9% as of December 31, 2022, calculated based on interest-bearing debt divided by total equity[22] - Total liabilities decreased significantly from THB 1,294,140,000 at the end of 2022 to THB 1,211,439,000 as of June 30, 2023[58] Operational Developments - The company has expanded its customer base into rural areas of Thailand through new ATM and passbook projects[6] - The company is focused on delivering existing projects while seeking new opportunities in the evolving economic landscape of Thailand[7] - Platt Nera International Limited is involved in a cash deposit machine project in Thailand, which includes the installation and maintenance of cash deposit machines in convenience stores over a 10-year period[110] - The company has signed a service agreement with a joint venture to develop operational software for cash deposit machines and provide ongoing support[110] - The company is also engaged in a project with a state-owned bank in Thailand to establish 2,900 ATMs and 790 passbook machines from 2020 to 2025[111] - The company plans to expand its market presence through strategic partnerships and technology development in the financial services sector[112] - The company aims to enhance its operational efficiency and customer service through the implementation of new technologies in its projects[113] Governance and Compliance - The company has complied with the corporate governance code as of June 30, 2023, except for the separation of the roles of Chairman and CEO[47] - The audit committee, consisting of three independent non-executive directors, has reviewed the financial reporting procedures and internal controls[51] - The company is focused on maintaining compliance with the corporate governance code as outlined in the listing rules[114] Shareholder Information - Asvaplungprohm and Archadechopon hold 282,000,000 shares each, representing 70.5% ownership in the company[42] - Asvaplungprohm holds 96% of Pynk, the controlling shareholder of the company[44] - The group’s issued and fully paid share capital remained at THB 4,000,000 as of June 30, 2023, consistent with the previous period[101] - The group received a shareholder loan of THB 50,000,000 during the reporting period, which is a new financing arrangement[102] - The company is preparing for a rights issue, offering one new share for every two shares held at a subscription price of HKD 0.10 per share[115] - The record date for the rights issue is set for August 15, 2023, to determine eligible shareholders[115] Employee and Labor Costs - The group had a total of 63 employees as of June 30, 2023, with labor costs amounting to approximately 25.4 million THB, representing 12.8% of the group's revenue for the six months ended June 30, 2023[30] - The total remuneration for key management personnel increased to THB 9,031,000 for the six months ended June 30, 2023, compared to THB 8,671,000 for the same period in 2022, reflecting an increase of 4.2%[104] Market Conditions - The company maintains a cautiously optimistic outlook for 2023, considering global inflation pressures and high interest rates, while continuing to pursue new projects[7] - The company continues to monitor the impact of COVID-19 on its operations and market conditions[112]
佰达国际控股(01949) - 2023 - 中期财报