Financial Performance - Revenue for the six months ended June 30, 2023, was SGD 7,768,876, a decrease of 34.5% compared to SGD 11,853,616 for the same period in 2022[4] - Gross profit for the six months ended June 30, 2023, increased to SGD 2,219,570, representing a 13.9% increase from SGD 1,946,378 in the previous year[4] - The net profit for the six months ended June 30, 2023, was SGD 767,579, compared to a profit of SGD 508,927 for the same period in 2022, marking a 50.9% increase[4] - Basic and diluted earnings per share for the six months ended June 30, 2023, were SGD 0.324, up from SGD 0.222 in the same period last year, reflecting a 46% increase[4] - The company reported revenue of approximately SGD 7,769,000 for the six months ended June 30, 2023, a decrease of about 34.5% or SGD 4,085,000 compared to SGD 11,854,000 in 2022[53] - Profit for the six months ended June 30, 2023, was approximately SGD 768,000, compared to SGD 509,000 in the same period of 2022[53] - Gross profit for the six months ended June 30, 2023, was approximately SGD 2,220,000, with a gross margin of about 28.6%, up from 16.4% in 2022[53] Revenue Breakdown - Revenue from the signage business for the six months ended June 30, 2023, was SGD 5,843,009, an increase of 81.5% from SGD 3,224,411 in the same period of 2022[23] - Revenue from renovation and refurbishment services for the six months ended June 30, 2023, was SGD 1,925,867, a decrease of 77.7% from SGD 8,629,205 in the same period of 2022[23] - Revenue from the sale of signage and advertising in the public and private sectors in Singapore for the six months ended June 30, 2023, was approximately SGD 5,843,000, an increase of SGD 2,619,000 from SGD 3,224,000 in the same period of 2022[61] - Revenue from renovation services for residential and development projects decreased by approximately SGD 6,703,000, totaling SGD 1,926,000 for the six months ended June 30, 2023, compared to SGD 8,629,000 in the same period of 2022[61] Assets and Liabilities - Total assets as of June 30, 2023, amounted to SGD 16,421,318, an increase from SGD 15,847,615 as of December 31, 2022[5] - Current assets increased to SGD 15,050,660 as of June 30, 2023, compared to SGD 14,018,400 at the end of 2022, indicating a growth of 7.4%[5] - The company reported a decrease in inventory to SGD 147,242 from SGD 246,469, a reduction of 40.2%[5] - Non-current liabilities decreased to SGD 2,581,281 as of June 30, 2023, down from SGD 2,772,044 at the end of 2022, a decline of 6.9%[8] - The total equity as of June 30, 2023, was SGD 13,840,037, an increase from SGD 13,075,571 at the end of 2022, reflecting a growth of 5.8%[8] - Trade receivables as of June 30, 2023, were SGD 6,910,458, down from SGD 7,112,746 as of December 31, 2022[41] - As of June 30, 2023, the total interest-bearing borrowings of the group amounted to SGD 3,014,000, a decrease from SGD 3,210,000 as of December 31, 2022[60] - The group's debt-to-asset ratio was approximately 15.6% as of June 30, 2023, down from 17.3% as of December 31, 2022[60] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2023, was SGD 833,262, compared to a net cash used of SGD (1,361,655) in the same period of 2022[13] - The net cash used in financing activities for the six months ended June 30, 2023, was SGD (268,665), compared to cash generated of SGD 811,335 in the same period of 2022[13] - The total cash and cash equivalents as of June 30, 2023, were SGD 3,083,757, a decrease from SGD 3,119,544 as of June 30, 2022[13] - The group's cash and cash equivalents increased to approximately SGD 3,084,000 as of June 30, 2023, compared to SGD 2,516,000 as of December 31, 2022[60] Expenses and Costs - Selling and administrative expenses for the six months ended June 30, 2023, were approximately SGD 1,316,000, a decrease of 30.0% from SGD 1,880,000 in 2022[57] - The total employee cost for the six months ended June 30, 2023, was approximately SGD 1,663,000, a decrease from SGD 2,228,000 in the same period of 2022[70] - The total financing costs for the six months ended June 30, 2023, were SGD 72,662, an increase from SGD 19,819 in the same period of 2022[30] - The income tax expense for the six months ended June 30, 2023, was SGD 127,100, compared to an income tax credit of SGD (217,739) in the same period of 2022[33] - The company recorded a tax expense of SGD 186,700 for the six months ended June 30, 2023, compared to a tax credit of SGD 36,700 in 2022[7] Corporate Governance - The company has complied with the corporate governance code as of June 30, 2023[85] - The board is committed to enhancing internal control systems and ensuring high standards of corporate governance[84] - The audit committee has reviewed the unaudited condensed consolidated results for the six months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[91] - The company has adopted a code of conduct regarding securities transactions by directors, which complies with GEM listing rules[86] - The company aims to create value for shareholders and maximize returns while adhering to local and international governance standards[84] - The board consists of two executive directors and three independent non-executive directors as of the report date[91] Market Outlook - The company experienced a decline in demand for renovation and refurbishment services, attributed to increased market competition[53] - The outlook for the construction sector in Singapore indicates a slow recovery, with ongoing challenges due to competitive bidding and rising material costs[64] Employment - The group employed a total of 81 employees as of June 30, 2023, down from 97 employees as of December 31, 2022[70] Other Information - The company did not recommend an interim dividend for the six months ended June 30, 2023, consistent with 2022[40] - The company and its subsidiaries did not purchase, sell, or redeem any listed securities during the six months ended June 30, 2023[82] - No share options were granted, exercised, lapsed, or cancelled under the share option scheme during the six months ended June 30, 2023[90] - The total number of share options available for grant under the share option scheme as of January 1, 2023, and June 30, 2023, was 23,680,000[90] - The group has no significant investments or acquisitions during the review period and has no specific future plans for significant investments or capital assets as of June 30, 2023[66]
吉辉控股(08027) - 2023 - 中期财报