Grandshores Technology : Financial Report

	2021 INTERIM REPORT
CONTENTS
CORPORATE INFORMATION	2
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME	4
CONSOLIDATED STATEMENT OF FINANCIAL POSITION	6
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	8
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS	10
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS	12
MANAGEMENT DISCUSSION AND ANALYSIS	34
CORPORATE GOVERNANCE AND OTHER INFORMATION	45

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GRANDSHORES TECHNOLOGY GROUP LIMITED

CORPORATE INFORMATION

BOARD OF DIRECTORS	NOMINATION COMMITTEE
EXECUTIVE DIRECTOR	Mr. Yao Yongjie (Chairman)
	Ms. Lu Xuwen
Mr. Yao Yongjie (Chairman)	Mr. Chu Chung Yue, Howard
	Dr. Zhang Weining
NON-EXECUTIVE DIRECTORS	Mr. Yu Wenzhuo
Mr. Chua Seng Hai	COMPANY SECRETARY
Ms. Lu Xuwen
Ms. Yu Zhuochen	Mr. Wong Ngai

INDEPENDENT NON-EXECUTIVE   DIRECTORS

Mr. Chu Chung Yue, Howard

Dr. Zhang Weining

Mr. Yu Wenzhuo

AUDIT COMMITTEE

Mr. Chu Chung Yue, Howard (Chairman)

Dr. Zhang Weining

Mr. Yu Wenzhuo

REMUNERATION COMMITTEE

Dr. Zhang Weining (Chairman)

Mr. Yao Yongjie

Ms. Lu Xuwen

Mr. Chu Chung Yue, Howard

Mr. Yu Wenzhuo

AUTHORISED REPRESENTATIVES

Mr. Yao Yongjie

Mr. Wong Ngai

REGISTERED OFFICE

Cricket Square

Hutchins Drive P.O. Box 2681

Grand Cayman KY1-1111

Cayman Islands

PRINCIPAL PLACE OF BUSINESS IN   HONG KONG

Unit 1503, 15/F, Greenfield Tower,

  Concordia Plaza,

1 Science Museum Road, Tsim Sha Tsui,

Kowloon, Hong Kong

PRINCIPAL PLACE OF BUSINESS   IN SINGAPORE

18 Kaki Bukit Place

Eunos Techpark

Singapore 416196

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2021 INTERIM REPORT

CORPORATE INFORMATION (Continued)

CAYMAN ISLANDS PRINCIPAL

• SHARE REGISTRAR AND
• TRANSFER OFFICE

Conyers Trust Company (Cayman) Limited

Cricket Square

Hutchins Drive

P.O. Box 2681

Grand Cayman KY1-1111

Cayman Islands

HONG KONG BRANCH SHARE

• REGISTRAR AND TRANSFER
• OFFICE

Tricor Investor Services Limited

Level 54, Hopewell Centre

183 Queen's Road East

Hong Kong

AUDITOR

Crowe (HK) CPA Limited Certified Public Accountants 9/F, Leighton Centre

77 Leighton Road, Causeway Bay Hong Kong

PRINCIPAL BANKS

United Overseas Bank

DBS Bank (Hong Kong) Limited

Bank of Communications (Hong Kong

Branch)

COMPANY'S WEBSITE

www.grandshorestech.com

STOCK CODE

1647

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GRANDSHORES TECHNOLOGY GROUP LIMITED

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the six months ended 30 September 2021

		Six months ended 30 September
		2021	2020
	Note	S$	S$
		(Unaudited)	(Unaudited)
Revenue	4	18,146,703	17,328,873
Costs of sales and services		(13,230,937)	(11,888,504)
Gross profit		4,915,766	5,440,369
Other income	5A	465,533	787,664
Other gains and losses	5B	(196,962)	(687,413)
Selling expenses		(21,023)	(20,593)
Administrative expenses		(4,458,454)	(3,713,243)
Finance costs	6	(3,873)	(23,636)
Share of loss of an associate		(12,954)	(1,717)
Profit before taxation		688,033	1,781,431
Income tax expense	7	(294,867)	(610,909)
Profit for the period	8	393,166	1,170,522
Other comprehensive income
for the period
Items that may be reclassified

• subsequently to profit or loss: Exchange differences on translation

of foreign operations	92,996	423,583
Total comprehensive income for
the period	486,162	1,594,105

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