Financial Performance - The group's unaudited revenue for the six months ended January 31, 2023, was approximately SGD 10,179,000, an increase of about SGD 5,923,000 compared to SGD 4,256,349 for the same period in 2022[6] - The group reported an unaudited loss of approximately SGD 32,000 for the six months ended January 31, 2023, a significant improvement from the unaudited loss of approximately SGD 939,000 for the same period in 2022[6] - The gross profit for the six months ended January 31, 2023, was SGD 2,217,487, compared to SGD 972,850 for the same period in 2022, reflecting a gross profit margin increase[7] - Total revenue for the six months ended January 31, 2023, was SGD 10,178,861, a significant increase of 139.5% compared to SGD 4,256,349 for the same period in 2022[23] - Revenue from manpower outsourcing for the three months ended January 31, 2023, was SGD 5,345,069, up 120.5% from SGD 2,429,274 in the same period last year[23] - The company reported a pre-tax loss of SGD 31,560 for the six months ended January 31, 2023, compared to a loss of SGD 937,592 for the same period in 2022[29] - The total cost of services for the six months ended January 31, 2023, was SGD 7,961,374, an increase of 142.5% from SGD 3,283,499 in 2022[25] Cash Flow and Liquidity - Cash and cash equivalents rose to SGD 800,903 as of January 31, 2023, compared to SGD 271,146 as of July 31, 2022, showing enhanced liquidity position[9] - The company reported a net cash increase of SGD 517,046 for the six months ended January 31, 2023, compared to a decrease of SGD 1,858,233 in the same period of 2022[12] - Operating cash flow before changes in working capital improved to SGD 334,443, a recovery from a negative cash flow of SGD 550,215 in the previous year[11] - The company’s financing activities resulted in a net cash inflow of SGD 95,882, a significant improvement from a net cash outflow of SGD 493,915 in the previous year[12] - Cash and cash equivalents increased by approximately 530,000 SGD or 195.6% to about 801,000 SGD as of January 31, 2023, compared to 271,000 SGD as of July 31, 2022[45] Assets and Liabilities - Trade receivables increased to SGD 2,775,409 as of January 31, 2023, from SGD 2,339,922 as of July 31, 2022, indicating improved collection efficiency[9] - The total assets less current liabilities amounted to SGD 3,255,635 as of January 31, 2023, down from SGD 3,538,254 as of July 31, 2022[9] - The company's net assets decreased to SGD 3,163,331 as of January 31, 2023, from SGD 3,273,211 as of July 31, 2022, indicating a reduction in overall equity[9] - Total equity as of January 31, 2023, was SGD 3,163,331, down from SGD 3,273,211 as of August 1, 2022, primarily due to accumulated losses[10] - The company’s total borrowings decreased from SGD 1,942,824 in the previous year to SGD 1,082,917 for the current period[12] Expenses - The group’s administrative expenses increased to SGD 2,221,219 for the six months ended January 31, 2023, from SGD 1,879,826 for the same period in 2022, reflecting higher operational costs[7] - The company incurred interest expenses of SGD 46,101 for the six months ended January 31, 2023, compared to SGD 35,419 in the same period last year[24] - The company incurred depreciation expenses of SGD 29,031 for property, plant, and equipment, down from SGD 98,959 in the previous year[11] - Administrative expenses increased from approximately 1,880,000 SGD to approximately 2,221,000 SGD, primarily due to rising employee costs[41] Dividends and Share Capital - The board does not recommend the payment of an interim dividend for the six months ended January 31, 2023[6] - The company did not declare an interim dividend for the six months ended January 31, 2023, consistent with the previous year[29] - The average number of issued shares weighted for the six months ended January 31, 2023, was 1,800,000,000, up from 1,500,000,000 in the previous year[29] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated results for the six months ending January 31, 2023[62] - The company has complied with the corporate governance code principles and provisions, except for a temporary non-compliance regarding the number of independent non-executive directors[57] - The company confirmed that there were no significant transactions, arrangements, or contracts in which any director had a material interest during the review period[59] - The company has adopted a code of conduct for securities transactions by directors, which complies with GEM Listing Rules[56] - The roles of the chairman and CEO were not separated during the review period, but the company believes the current structure is sufficient for effective governance[58] Business Operations - The company continues to focus on its core business of providing human outsourcing and recruitment services, with no significant new product launches or acquisitions reported during the period[14] - The company aims to deepen relationships with existing clients and explore new business opportunities to expand market share and implement new business strategies[50] - As of January 31, 2023, the company employed a total of 142 employees, up from 104 in 2022, including 109 full-time dispatched employees[44] Other Information - The company has no significant contingent liabilities as of January 31, 2023[49] - No purchases, sales, or redemptions of the company's listed securities occurred during the review period[55] - As of January 31, 2023, Irregular Consulting Limited holds 228,665,000 shares, representing approximately 12.70% of the issued share capital[52] - Huang Yuzhi indirectly holds 228,655,000 shares through Irregular Consulting Limited, also accounting for approximately 12.70% of the issued share capital[52] - No stock options were granted, lapsed, exercised, or cancelled under the stock option plan during the six months ending January 31, 2023[60]
星亚控股(08293) - 2023 - 中期财报