Financial Performance - For the three months ended June 30, 2023, the company reported revenue of SGD 5,183,000, a decrease of 7.2% compared to SGD 5,584,000 for the same period in 2022[8]. - For the six months ended June 30, 2023, the company achieved revenue of SGD 11,851,000, an increase of 6.7% from SGD 11,103,000 in the same period last year[8]. - The company's gross profit for the six months ended June 30, 2023, was SGD 5,935,000, representing a gross margin of approximately 50%[8]. - The net profit for the six months ended June 30, 2023, was SGD 1,115,000, compared to a loss of SGD 265,000 in the same period of 2022[8]. - The company reported a basic and diluted earnings per share of SGD 0.06 for the six months ended June 30, 2023, compared to a loss per share of SGD 0.01 for the same period in 2022[8]. - Total comprehensive income for the six months ended June 30, 2023, was SGD 1,085,000, compared to a loss of SGD 264,000 in the same period last year[8]. - The company incurred total expenses of SGD 10,736,000 for the six months ended June 30, 2023, an increase from SGD 10,072,000 in the same period of 2022[8]. - The company's profit before tax for the six months ended June 30, 2023, was SGD 1,114,000, compared to a loss of SGD 218,000 in the same period of 2022[30]. - Profit for the six months ended June 30, 2023, was approximately SGD 1.12 million, a significant increase from a loss of SGD 0.27 million in the same period of 2022[48]. Assets and Liabilities - As of June 30, 2023, total assets amounted to SGD 20,441 thousand, a decrease from SGD 21,084 thousand as of December 31, 2022, reflecting a decline of approximately 3.1%[9]. - Non-current assets totaled SGD 6,375 thousand, down from SGD 6,725 thousand, indicating a decrease of about 5.2%[9]. - Current assets increased to SGD 14,066 thousand from SGD 13,013 thousand, representing an increase of approximately 8.1%[9]. - Cash and cash equivalents rose to SGD 3,417 thousand from SGD 2,988 thousand, marking an increase of about 14.4%[9]. - The company reported a total equity of SGD 8,662 thousand as of June 30, 2023, up from SGD 7,576 thousand, indicating an increase of about 14.4%[10]. - The company's total liabilities decreased to SGD 1,747 thousand from SGD 2,359 thousand, a reduction of about 26%[9]. - The company's total borrowings decreased from SGD 2.531 million as of December 31, 2022, to SGD 2.000 million as of June 30, 2023[43]. - Trade payables as of June 30, 2023, amounted to SGD 1.245 million, slightly down from SGD 1.259 million as of December 31, 2022[40]. Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2023, was SGD 887 thousand, compared to SGD 765 thousand for the same period in 2022, reflecting a growth of approximately 15.9%[12]. - The company’s financing activities used SGD 426 thousand in cash, a significant decrease from SGD 874 thousand in the previous year, indicating improved cash management[12]. - As of June 30, 2023, the company's cash and bank balances were approximately SGD 3.42 million, up from SGD 2.99 million as of December 31, 2022[62]. - The company’s cash and cash equivalents increased from SGD 6.876 million as of December 31, 2022, to SGD 7.162 million as of June 30, 2023[40]. Strategic Initiatives - The company plans to continue expanding its market presence and investing in new product development to drive future growth[7]. - The company has identified potential acquisition targets to enhance its operational capabilities and market reach[7]. - The management remains optimistic about achieving its financial targets for the upcoming quarters, supported by strategic initiatives and market expansion efforts[7]. - The company aims to expand its product and service offerings both in Singapore and overseas, identifying new business opportunities[52]. - The company plans to maintain a cautious approach in light of the weakening global economic outlook and rising inflation, focusing on customer service and loyalty[53]. Market and Product Development - The company is engaged in the development and sales of smart kitchen appliances, indicating a focus on innovation and market expansion[16]. - The company has expanded into the smart kitchen segment in mainland China, adopting a multi-business model including offline retail, takeaway, and SaaS+ services[49]. - The company is actively pursuing technological advancements in maintenance equipment and new car engine types to prepare for market developments in electric vehicles[52]. Shareholder Information - The company has a total of 2 billion ordinary shares issued and fully paid as of June 30, 2023, remaining unchanged from the previous year[46]. - Mr. Li Jie holds a beneficial interest of 586,020,000 shares, representing 29.3% of the company's equity[71]. - Ms. Han Mei, as the spouse of Mr. Li Jie, also holds an interest in 586,020,000 shares, equating to 29.3%[71]. - Ms. Li Lidan holds an interest of 120,810,000 shares, which is 14.54% of the company's equity[71]. Other Financial Information - The company did not recommend any interim dividend for the six months ended June 30, 2023, consistent with the previous year[29]. - The company did not engage in any related party transactions during the six months ended June 30, 2023[73]. - There were no significant investments, acquisitions, or disposals made by the group during the six months ended June 30, 2023[84]. - There were no pledged assets as of June 30, 2023[76]. - The company has not used any hedging financial instruments to mitigate currency risk as of the report date[77]. - The board believes that the current arrangement of having the co-chairman also serve as the CEO is beneficial for effective strategic planning[82].
中食民安(08283) - 2023 - 中期财报