Financial Performance - Revenue for the three months ended June 30, 2022, was SGD 8,396,000, an increase of 16.0% compared to SGD 7,227,000 for the same period in 2021[5] - Gross profit for the six months ended June 30, 2022, was SGD 4,282,000, representing a 21.1% increase from SGD 3,534,000 in the same period of 2021[5] - The net loss for the six months ended June 30, 2022, was SGD 405,000, compared to a profit of SGD 288,000 in the same period of 2021[5] - Revenue for the six months ended June 30, 2022, was SGD 16,624,000, up 15.5% from SGD 14,387,000 in the prior year[17] - Other income for the six months ended June 30, 2022, totaled SGD 232,000, a decrease of 83.9% from SGD 1,445,000 in the same period of 2021[19] - The company reported a loss attributable to owners of SGD 405,000 for the six months ended June 30, 2022, compared to a profit of SGD 289,000 in the same period of 2021[24] - The company recorded a loss of approximately SGD 0.4 million for the six months ended June 30, 2022, compared to a profit of approximately SGD 0.29 million in the same period of 2021[58] - The loss was primarily due to the absence of a one-time gain of SGD 1.1 million from the sale of investment properties recognized in the six months ended June 30, 2021, along with increased operating expenses[58] Assets and Liabilities - Total assets as of June 30, 2022, were SGD 30,202,000, an increase from SGD 28,902,000 as of December 31, 2021[7] - Current assets net of current liabilities increased to SGD 6,388,000 from SGD 4,331,000 in the previous year[7] - Non-current assets decreased to SGD 23,814,000 from SGD 24,571,000 year-on-year[6] - The company’s total equity increased to SGD 21,260,000 as of June 30, 2022, compared to SGD 19,623,000 at the end of the previous year[7] - The company’s cash and cash equivalents as of June 30, 2022, were SGD 4,128,000, down from SGD 4,492,000 at the end of 2021[6] - The company’s issued share capital as of June 30, 2022, was SGD 2,760,000, reflecting changes due to share consolidation and issuance[36] - The group's total borrowings as of June 30, 2022, were approximately SGD 12.4 million, down from SGD 13.8 million as of December 31, 2021, with a debt-to-equity ratio of approximately 58.2%[74] Cash Flow and Financing - The cash flow from operating activities for the six months ended June 30, 2022, was SGD 25,000, compared to a cash outflow of SGD 209,000 for the same period in 2021, indicating a significant improvement[10] - The company raised SGD 2,188,000 from the placement of new shares during the six months ended June 30, 2022, compared to SGD 1,430,000 in the previous year, reflecting a 53% increase in capital raised[11] - The net proceeds from the share placement on January 27, 2022, amounted to approximately HKD 5.58 million, which has been fully utilized for general working capital[70] - The net proceeds from the share placement on June 17, 2022, were approximately HKD 6.76 million, also intended for general working capital[72] - As of June 30, 2022, the net proceeds from the share issuance amounted to HKD 35,600,000, with HKD 33,731,000 already utilized and HKD 1,869,000 remaining unutilized[84] Operational Highlights - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[5] - The company aims to continue promoting its brand and providing quality products while exploring diverse opportunities to broaden its revenue sources and strengthen market share[59] - The board remains optimistic and is taking necessary actions to minimize the impact on core business operations due to the COVID-19 pandemic and international trade conflicts[59] Shareholder Information - Major shareholders include Mr. Chen with 9,785,000 shares (13.36%) and Mr. Ni with 8,445,000 shares (11.67%) as of June 30, 2022[87] - The company has a total of 79,142,000 shares issued as of June 30, 2022, which is the basis for calculating the ownership percentages[87] - The company’s major shareholder, Ma Youcheng Investment Limited, holds 5,795,000 shares (7.32%) as of June 30, 2022[91] Stock Options and Incentives - The company’s stock option plan was adopted on August 30, 2017, aimed at attracting and retaining qualified individuals[93] - The stock option plan allows for the issuance of options equivalent to up to 10% of the company's issued shares at any time[38] - The company issued 6,320,000 stock options at an exercise price of HKD 0.71 during the period[43] - The estimated fair value of stock options granted on June 27, 2022, was HKD 1,991,000 (approximately SGD 353,000)[44] - No stock options were exercised during the period, while 57,600,000 options were exercised in the previous year[44] Compliance and Governance - The company has complied with the corporate governance code as per GEM listing rules during the six months ended June 30, 2022[101] - All directors confirmed compliance with the trading standards for securities transactions during the six months ended June 30, 2022[102] - The audit committee reviewed the interim report and financial statements for the six months ended June 30, 2022, ensuring compliance with applicable accounting standards[104]
COOL LINK(08491) - 2022 - 中期财报