Financial Performance - For the six months ended June 30, 2023, the group's unaudited revenue was approximately SGD 5.3 million, a decrease of about SGD 2.5 million or 32.1% compared to SGD 7.8 million for the same period in 2022[4] - The unaudited loss for the six months ended June 30, 2023, was approximately SGD 2.7 million, compared to a loss of SGD 0.9 million for the same period in 2022[4] - Basic loss per share for the six months ended June 30, 2023, was 0.45 Singapore cents, compared to 0.19 Singapore cents for the same period in 2022[4] - The total comprehensive loss for the six months ended June 30, 2023, was SGD 2.747 million, compared to SGD 1.008 million for the same period in 2022[6] - The group reported a gross profit of SGD 22, a significant decrease from SGD 568 for the same period in 2022[6] - The company incurred operating losses of SGD 2.611 million for the six months ended June 30, 2023, compared to SGD 0.849 million for the same period in 2022[6] - For the six months ended June 30, 2023, the company reported a total comprehensive loss of SGD 2,579,000, compared to a loss of SGD 2,932,000 for the same period in 2022, representing a decrease of approximately 12% in losses[13] - The company reported a loss before tax of SGD 2,676,000 for the six months ended June 30, 2023, compared to a loss of SGD 938,000 for the same period in 2022[36] - The overall gross profit decreased by approximately SGD 0.6 million or 96.3%, falling to about SGD 22,000 for the six months ended June 30, 2023, from approximately SGD 0.6 million for the same period last year[97] - The overall gross profit margin dropped from approximately 7.7% for the six months ended June 30, 2022, to about 0.4% for the same period in 2023[97] Assets and Liabilities - Total assets as of June 30, 2023, were SGD 14.883 million, a decrease from SGD 16.317 million as of December 31, 2022[9] - Total liabilities as of June 30, 2023, were SGD 8.505 million, an increase from SGD 7.192 million as of December 31, 2022[11] - The company's equity attributable to owners was SGD 6.012 million as of June 30, 2023, down from SGD 8.647 million as of December 31, 2022[9] - As of June 30, 2023, the company's total equity attributable to equity holders was SGD 6,012,000, down from SGD 8,647,000 at the end of 2022, reflecting a decrease of approximately 30%[13] - The company's property, plant, and equipment net book value decreased to SGD 1,337,000 as of June 30, 2023, from SGD 1,589,000 at the beginning of the year[65] - The total borrowings amounted to approximately SGD 0.8 million as of June 30, 2023, compared to SGD 0.3 million as of December 31, 2022[105] Cash Flow and Financing - The company's cash flow from operating activities showed a net cash outflow of SGD 13,000 for the six months ended June 30, 2023, compared to a net inflow of SGD 1,950,000 in the same period of 2022, indicating a significant decline in operational cash generation[16] - The company raised SGD 518,000 through borrowings during the first half of 2023, compared to no borrowings in the same period of 2022, indicating a shift in financing strategy[19] - The total cash outflow for leases was SGD 933,000 for the six months ended June 30, 2023, compared to SGD 992,000 in 2022[69] Expenses - Employee benefits expenses for the six months ended June 30, 2023, were SGD 2,138,000, down from SGD 2,464,000, reflecting a reduction in workforce costs[44] - Research and development expenses increased to SGD 246,000 in 2023 from SGD 168,000 in 2022, indicating a focus on innovation despite overall losses[43] - The total unallocated expenses for the period were SGD 2,472,000, significantly impacting the overall financial performance[36] - Administrative expenses increased by approximately SGD 0.3 million or 23.1%, rising to about SGD 1.6 million for the six months ended June 30, 2023, from approximately SGD 1.3 million for the same period last year[98] Shareholder Information - The company issued 92 million new shares at SGD 0.10 per share, raising SGD 1,622,000 in cash during the reporting period[82] - The weighted average number of ordinary shares issued increased to 568,372,000 shares in 2023 from 483,996,000 shares in 2022[62] - Major shareholders include Mr. Leung with 57,016,000 shares (10.03%) and Mr. Xie with 61,612,000 shares (10.84%) as of June 30, 2023[128] - Mr. Pan holds 33,832,000 shares, representing 5.95% of the company, while Ms. Wu holds 52,694,000 shares, representing 9.27%[124] Governance and Compliance - The company maintains a high standard of corporate governance, complying with the GEM Listing Rules and the Corporate Governance Code[138] - The roles of Chairman and CEO are currently held by the same individual, Mr. Pan, which the board believes is in the best interest of the company and its shareholders[138] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial information for the six months ending June 30, 2023, ensuring compliance with applicable accounting standards and GEM Listing Rules[143] Market and Trading Information - Trading of the company's shares was suspended on August 15, 2023, pending the release of the interim results for the six months ending June 30, 2023[144] - The company plans to apply for the resumption of trading of its shares on August 22, 2023, following the publication of its interim results[144] Other Information - The company did not engage in any significant acquisitions or disposals of subsidiaries during the six months ended June 30, 2023[90] - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2023[131] - No major events affecting the company's business or financial performance were identified after the reporting period ending June 30, 2023[121]
加和国际控股(08513) - 2023 - 中期财报