Financial Performance - For the six months ended February 29, 2024, the company reported revenue of HKD 1,483,000, a decrease of 66% compared to HKD 4,361,000 for the same period last year[13]. - The company incurred a loss before tax of HKD 422,000, which is a 52% improvement from a loss of HKD 878,000 in the previous year[13]. - Basic and diluted loss per share improved to HKD 0.74 from HKD 1.80 year-on-year[13]. - Total comprehensive loss for the period was HKD 400,000, compared to HKD 849,000 in the same period last year, indicating a 53% reduction in losses[15]. - The company reported a net loss attributable to equity holders of 414,000 SGD for the six months ended February 29, 2024, compared to a loss of 792,000 SGD for the same period in the previous year[26]. - The group reported a pre-tax loss of 414,000 SGD for the six months ended February 29, 2024, compared to a loss of 792,000 SGD in the same period last year[44]. - The group reported a loss of approximately SGD 422,000 for the period, a decrease compared to a loss of approximately SGD 878,000 in the same period last year[66]. Revenue Breakdown - Restaurant operations revenue for the six months ended February 29, 2024, was 522,000 SGD, a decrease of 88.0% from 4,330,000 SGD in the same period last year[34]. - Sales of food products generated revenue of 961,000 SGD, compared to 31,000 SGD in the previous year, indicating a significant increase[34]. - Total revenue for the group was 1,483,000 SGD, down 66.0% from 4,361,000 SGD year-on-year[34]. - Revenue from restaurant operations decreased by approximately 87.9% to SGD 0.5 million from SGD 4.3 million in the same period last year, primarily due to the cessation of operations and increased competition[56][57]. - Revenue from food sales in Singapore was approximately SGD 31,000 in the same period last year, but no revenue was generated after the closure of Gangnam Kitchen on April 30, 2023[58]. - The group expanded its food trading business in Shenzhen, generating revenue of approximately SGD 1.0 million in the six months ending February 29, 2024[58]. Cost Management - Employee costs decreased significantly to HKD 702,000 from HKD 2,070,000, reflecting a 66% reduction[13]. - Other expenses decreased from approximately SGD 0.9 million to about SGD 0.3 million, a reduction of approximately 67.6%, aligning with the closure of self-operated restaurants[63]. - Financial costs decreased by approximately 97.2%, from about SGD 176,000 to SGD 5,000, primarily due to a reduction in other loans and lease liabilities[64]. - The net cash used in operating activities was (1,544,000 SGD) for the six months ended February 29, 2024, compared to (356,000 SGD) for the same period in the previous year[22]. Assets and Liabilities - Total current assets increased significantly to 3,744,000 SGD as of February 29, 2024, from 1,592,000 SGD as of August 31, 2023, representing a growth of approximately 134%[18]. - Current liabilities rose to 8,368,000 SGD as of February 29, 2024, compared to 7,418,000 SGD as of August 31, 2023, indicating an increase of about 12.9%[18]. - The total non-current liabilities increased to 4,426,000 SGD as of February 29, 2024, from 2,611,000 SGD as of August 31, 2023, reflecting a rise of about 69.5%[18]. - The company’s total equity as of February 29, 2024, was reported at (8,583,000 SGD), compared to (8,404,000 SGD) as of August 31, 2023, indicating a deterioration in equity position[18]. - As of February 29, 2024, the group recorded net current liabilities of approximately SGD 4.6 million, improving from SGD 5.8 million as of August 31, 2023[74]. Financing and Investments - The company secured a revolving loan financing of 65,000,000 HKD (approximately 11,174,800 SGD) from an independent third party[27]. - The group raised approximately SGD 411,000 (equivalent to HKD 2.4 million) from a placement of 8,800,000 shares at a price of HKD 0.282 per share, completed on July 26, 2023[68]. - The group acquired a 51% stake in PDR's Dining Limited for approximately HKD 1.0 million, with shares issued at HKD 0.632 each on March 19, 2024[72]. - The company has acquired 51% of PDR's Dining Limited for a total consideration of HKD 1 million, with the completion of the acquisition occurring on March 19, 2024[89]. Strategic Plans - The company plans to continue focusing on cost management and operational efficiency to improve financial performance in the upcoming periods[15]. - The company is exploring new market opportunities and potential product innovations to drive future growth[15]. - The company plans to expand its profitable restaurant operations by increasing distribution channels and eliminating underperforming restaurants[27]. - The company plans to expand into school catering and alcoholic beverage services, and has successfully acquired a Spanish restaurant under PDR's Dining Limited on January 18, 2024[52]. - A memorandum of understanding was signed with SDM Education Group Holdings Limited for potential collaboration in providing catering services to schools in Singapore[53]. - The company entered into a general partnership agreement with MTBL Global Pte. Ltd. to promote its products in Singapore, Hong Kong, and Malaysia, leveraging advanced technology for distribution[55]. Shareholder Information - The group did not declare or recommend any dividends for the period ended February 29, 2024[43]. - The company completed a share consolidation on October 21, 2022, merging ten shares of HKD 0.01 each into one share of HKD 0.1, followed by a rights issue of one share for every two consolidated shares[45]. - On July 26, 2023, the company successfully placed 8,800,000 shares at a price of HKD 0.282 per share[45]. - The company granted 4,000,000 share options during the period, with no options granted in the previous year[105]. - The exercise price for the share options is set at HKD 0.320[105]. - A total of 1,888,000 share options were exercised during the period[105]. Corporate Governance - The company has complied with all applicable corporate governance code provisions during the reporting period[110]. - The audit committee has reviewed the unaudited condensed consolidated financial statements and believes they have been prepared in accordance with applicable accounting standards[112]. - The board of directors includes four executive directors and three independent non-executive directors[115]. Company Name Change - The company changed its name from "K Group Holdings Limited" to "E-STATION GREEN TECHNOLOGY GROUP CO., LIMITED" effective March 8, 2024[83]. - The new stock trading abbreviation will be "E-STATION GTECH" starting from April 3, 2024[84]. - The company’s organizational documents were amended to reflect the name change on February 29, 2024[87].
千盛集团控股(08475) - 2024 - 中期业绩