Revenue Performance - Revenue for the three months ended February 28, 2022, was HKD 3,719,000, a decrease of 20% compared to HKD 4,644,000 for the same period in 2021[5] - Revenue for the six months ended February 28, 2022, was HKD 6,846,000, down 25% from HKD 9,107,000 in the previous year[5] - Restaurant operations generated revenue of SGD 6,837,000 for the six months ended February 28, 2022, down from SGD 9,059,000 in the same period last year, reflecting a decline of approximately 24%[26] - Revenue from Singapore decreased by 19.7% to 3,715 thousand SGD for the three months ended February 28, 2022, compared to 4,629 thousand SGD in the same period of 2021[28] - Revenue from Indonesia dropped by 73.3% to 4 thousand SGD for the three months ended February 28, 2022, down from 15 thousand SGD in the same period of 2021[28] - Revenue from food sales decreased from approximately SGD 18,000 in the same period last year to about SGD 1,000 this period, a decline attributed to COVID-19 measures[58] - Revenue from franchising and licensing services fell from approximately SGD 30,000 to about SGD 8,000, a decrease of approximately 73.3% due to the impact of COVID-19 on restaurant operations[59] Financial Performance - The net loss for the three months ended February 28, 2022, was HKD 119,000, compared to a net loss of HKD 411,000 for the same period in 2021[5] - The net loss for the six months ended February 28, 2022, was HKD 58,000, a significant improvement from a net loss of HKD 638,000 in the previous year[5] - For the six months ended February 28, 2022, the company reported a loss attributable to equity holders of SGD 85,000, increasing from a loss of SGD 644,000 in the same period of the previous year[17] - The group reported a pre-tax loss of 140 thousand SGD for the three months ended February 28, 2022, compared to a loss of 428 thousand SGD in the same period of 2021[39] - The group reported a loss of approximately SGD 58,000 this period, a decrease from a loss of approximately SGD 638,000 in the same period last year[67] Assets and Liabilities - Total assets as of February 28, 2022, were HKD 1,778,000, a decrease from HKD 1,938,000 as of August 31, 2021[8] - Non-current assets decreased to HKD 3,604,000 from HKD 5,370,000 year-on-year[8] - Current liabilities totaled HKD 7,488,000, down from HKD 8,416,000 in the previous year[8] - The total equity as of February 28, 2022, was SGD (3,954,000), compared to SGD 3,027,000 as of September 1, 2021, indicating a significant decline[17] - Trade payables as of February 28, 2022, totaled 965,000 SGD, an increase from 861,000 SGD as of August 31, 2021[45] Cash Flow - Cash generated from operating activities for the six months ended February 28, 2022, was SGD 1,917,000, slightly up from SGD 1,906,000 in the previous year[13] - The company experienced a net cash outflow from investing activities of SGD 33,000, a significant improvement from a cash outflow of SGD 143,000 in the prior year[13] - The net cash used in financing activities was SGD (2,143,000), compared to SGD (2,212,000) in the previous year, indicating a reduction in financing outflows[13] - The company’s cash and cash equivalents decreased to SGD 185,000 as of February 28, 2022, from SGD 962,000 at the end of the previous year[13] - The company’s cash and bank balances decreased to HKD 185,000 from HKD 379,000 year-on-year[8] Operational Strategy - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[5] - The company is focusing on cost control measures to better manage operating cash flow[23] - The group aims to enhance its brand image and identify target companies with growth potential or synergistic business models[53] - The group plans to expand its restaurant network into other Southeast Asian countries and acquire dining businesses in the Greater Bay Area[53] - The group has implemented cost control measures, including salary reductions and operational expenditure tightening, in response to the financial impact of COVID-19[52] Shareholder Information - As of February 28, 2022, Mr. Ye holds 30,499,000 shares, representing approximately 6.93% of the company's issued shares[78] - Canola Investment Holdings Limited, a major shareholder, holds 30,499,000 shares, also accounting for 6.93% of the issued shares[83] - The total number of issued shares is 440,000,000[79] - Other shareholders, including Ong Hui Hui and Teo Yan Qi Sharon, each hold 30,499,000 shares, equivalent to 6.93%[83] - The major shareholders have established a concert party agreement, confirming their collaborative actions since October 1, 2015[79] Corporate Governance - The company has adopted a stock option plan since July 23, 2018, but has not granted or agreed to grant any stock options as of the report date[88] - The company has adhered to all applicable provisions of the corporate governance code as per the GEM Listing Rules during the period[92] - The audit committee has reviewed the unaudited condensed consolidated financial statements and believes they have been prepared in accordance with applicable accounting standards and legal requirements[97] - The audit committee, established on July 23, 2018, consists of three independent non-executive directors and is responsible for reviewing the financial reporting process and internal control systems[95] Miscellaneous - The group did not declare or propose any dividends for the current period, consistent with the previous year[37] - The group has no significant contingent liabilities or pledged assets as of February 28, 2022[76] - The company has not engaged in any purchases or sales of its listed securities during the reporting period[87] - The report was issued on April 14, 2022, with the executive directors listed, including the chairman and financial director[99]
易站绿色科技(08475) - 2022 - 中期财报