Financial Performance - The Group's revenue for the Relevant Period was $7.1 million, a slight decrease of $0.1 million or 1.7% compared to $7.2 million in the Previous Period[12]. - The Group's profit for the Relevant Period was $506,000, an increase from a profit of $244,000 in the Previous Period[12]. - Gross profit for 2024H1 was $2.494 million, compared to $1.967 million in 2023H1, reflecting an increase in gross profit margin[14]. - The total comprehensive income for the period increased to $506,000 for 2024H1, up from $244,000 in 2023H1, representing a growth of 106.15%[17]. - Consolidated profit before taxation for H1 2024 was $596,000, up from $244,000 in H1 2023[42]. - Basic earnings per share for H1 2024 was 0.06 cents, compared to 0.03 cents in H1 2023, reflecting a 100% increase[52]. - The profit attributable to shareholders for the period was $506,000, compared to $244,000 in the same period last year, representing a significant increase[92]. Assets and Liabilities - Current assets as of March 31, 2024, totaled $5.973 million, compared to $5.687 million as of September 30, 2023[16]. - Total assets as of March 31, 2024, were $20.256 million, slightly down from $20.317 million as of September 30, 2023[16]. - Total equity attributable to shareholders increased to $17.334 million from $16.828 million[16]. - Trade and other receivables decreased to $2.130 million from $2.951 million[16]. - The Group's cash and cash equivalents increased to $2.868 million from $1.722 million[16]. - Total liabilities decreased to $2.9 million from $3.5 million as of September 30, 2023[95]. - The current ratio improved to 5.4 times as of March 31, 2024, up from 3.5 times as of September 30, 2023, indicating better liquidity[95]. Expenses - Selling and distribution expenses rose to $914,000 from $876,000, indicating increased operational costs[14]. - Administrative expenses increased from $0.9 million to $1.0 million, representing an increase of 19.6% due to global inflation[84][90]. - Cost of sales decreased from $5.2 million to $4.6 million, representing a decrease of 12.4% due to lower purchase costs following the normalization of sea freight rates post COVID-19[82][88]. - The cost of inventories for H1 2024 was $4,152,000, down from $4,831,000 in H1 2023[44]. Dividends - The Board has resolved not to declare any dividend for the Relevant Period[12]. - The Board has resolved not to declare any dividend for H1 2024, consistent with H1 2023[49]. - The board has approved a dividend payout of MYR 0.05 per share, reflecting a commitment to returning value to shareholders[172]. Operational Insights - The principal activity of the group remains focused on supplying tissue products to corporate customers in Singapore, with no new segments reported[31]. - The Group's operations are solely based in Singapore, with all non-current assets located there[42]. - The company is optimistic about industry growth in Singapore, as tissue products are daily necessities[74]. - The company plans to continue evaluating development opportunities to strengthen its competitive advantage and market position[75]. Strategic Initiatives - The company is investing HK$50 million in R&D for new technologies aimed at enhancing product efficiency[168]. - Market expansion plans include entering two new Southeast Asian countries by the end of 2024[169]. - The company is considering strategic acquisitions to enhance its market position, with a budget of up to HK$100 million allocated for potential deals[170]. - A new marketing strategy is being implemented to increase brand awareness, targeting a 15% increase in customer engagement by the end of 2024[166]. Shareholder Information - As of the end of the Relevant Period, Mr. Chua Liang Sie holds a long position of 552,000,000 shares, representing 69% of the total issued shares[130]. - Mr. Chua Liang Chui also holds a long position of 552,000,000 shares, representing 69% of the total issued shares[130]. - YJH Group Limited, an associated corporation, is owned approximately 82.76% by Mr. Chua Liang Sie and 17.24% by Mr. Chua Liang Chui[132]. Governance and Compliance - The company has adopted the Required Standard of Dealings, and all Directors confirmed compliance during the Relevant Period[144]. - The company has entered into a Deed of Non-competition with its Controlling Shareholders to prevent any competition with its businesses[145]. - The Audit Committee consists of three independent non-executive Directors, who have reviewed the unaudited condensed consolidated financial statements for the Relevant Period[156]. - The company has adopted and complied with the Corporate Governance Code, with a noted deviation regarding the roles of Chairman and Chief Executive Officer being held by the same individual[155]. Future Outlook - The company provided a positive outlook for FY2024, projecting a revenue growth of 10% to 12%[166]. - New product launches are expected to contribute an additional 5% to revenue in the second half of 2024[167]. - The company reported a significant increase in revenue for the first half of 2024, achieving MYR 150 million, representing a 20% growth compared to the previous period[172]. - User data showed a rise in active users to 1.2 million, up 15% from the previous half-year[172]. - The company provided an optimistic outlook for the second half of 2024, projecting a revenue increase of 25% year-on-year[172].
日光控股(08451) - 2024 - 中期财报