Financial Performance - The group recorded revenue of approximately SGD 5.4 million for the six months ended June 30, 2023, an increase of about 28.6% compared to SGD 4.2 million in the same period last year[10]. - Gross profit for the period was approximately SGD 3.5 million, up about 29.6% from SGD 2.7 million in the previous year[11]. - The group reported a net loss of approximately SGD 0.3 million after tax, significantly improved from a net loss of SGD 1.2 million in the same period last year[12]. - Revenue for the three months ended June 30, 2023, was SGD 2,508,791, representing a 18.8% increase from SGD 2,110,668 in the same period of 2022[15]. - Total revenue for the six months ended June 30, 2023, reached SGD 5,403,458, up 29.7% from SGD 4,166,600 in the prior year[15]. - The net loss for the three months ended June 30, 2023, was SGD 156,402, a significant improvement compared to a net loss of SGD 506,959 in the same period of 2022[15]. - The net loss for the six months ended June 30, 2023, was SGD 280,860, compared to a net loss of SGD 992,700 in the same period of 2022[15]. - The company reported a basic loss per share of SGD (0.03) for the three months ended June 30, 2023, compared to SGD (0.10) for the same period in 2022[49]. - For the six months ended June 30, 2023, the basic loss per share was SGD (0.04), improving from SGD (0.20) in the same period of 2022[49]. Revenue Drivers - The increase in revenue was attributed to the lifting of COVID-19 restrictions in Singapore and the region, leading to a rise in patient visits[11]. - Revenue from consultation services, medical examination services, and treatment services accounted for approximately SGD 0.6 million, SGD 1.3 million, and SGD 3.1 million, representing 12.5%, 24.6%, and 57.9% of total revenue, respectively[75]. Cash Flow and Liquidity - Cash and cash equivalents increased to SGD 11,535,371 as of June 30, 2023, from SGD 10,834,550 at the end of 2022[18]. - Operating cash flow for the six months ended June 30, 2023, was a net outflow of SGD 166,939, compared to a net outflow of SGD 31,294 in the same period of 2022[21]. - The company has no external borrowings and is not subject to any externally imposed capital requirements[39]. - The company maintains a prudent cash management policy to ensure strong liquidity for future growth opportunities[93]. Assets and Liabilities - Total assets as of June 30, 2023, were SGD 16,461,682, slightly up from SGD 16,416,343 at the end of 2022[17]. - The company’s equity attributable to owners decreased to SGD 13,856,773 as of June 30, 2023, from SGD 14,117,094 at the end of 2022[18]. - The total amount of trade payables as of June 30, 2023, was SGD 536,313, slightly up from SGD 518,449 as of December 31, 2022[65]. - The group’s lease liabilities increased to SGD 960,249 as of June 30, 2023, compared to SGD 810,473 as of December 31, 2022[53]. Business Operations - The company operates primarily in Singapore, focusing on healthcare services and management consulting, with a recent cessation of its pepper trading business as of May 2023[23]. - The company operates six DTAP clinics and has launched a new online healthcare platform branded "Quinn" to expand its service offerings[78]. - The company has decided to cease operations of its pepper trading business due to limited profitability over the past 12 months[47]. Strategic Outlook - The group remains cautiously optimistic about the business environment despite external factors such as tightening monetary policies and geopolitical tensions impacting global economic growth[12]. - The company maintains a cautiously optimistic outlook despite geopolitical and inflationary uncertainties, aiming to enhance overall business revenue and profitability[76]. - The company continues to explore strategic partnerships and acquisitions to expand its business model into other regions[76]. Accounting and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and GEM listing rules, with no significant changes in accounting policies from the previous year[24]. - The company has adopted all applicable International Financial Reporting Standards effective from January 1, 2023, with no significant impact on reported amounts[24]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements and found them compliant with applicable accounting standards[125]. Shareholder Information - As of June 30, 2023, Dr. Chen holds 350,000,000 shares, representing 56.09% of the total issued shares of 624,000,000[116]. - Cher Sen Holdings Limited, wholly owned by Dr. Chen, holds 350,000,000 shares, equating to 56.09% ownership[117]. - Dr. Chen is the beneficial owner of 100% of Cher Sen's shares, which is a direct shareholder of the company[118]. - No other entities, apart from those disclosed, hold any interests in the company's shares as of June 30, 2023[121].
REPUBLIC HC(08357) - 2023 - 中期财报