If you are an investor willing to buy over the company, what would be your considerations after looking at the financial highlights?

https://tiongwoon.listedcompany.com/misc/ar2022.pdf

'+ 70% v PROFIT AND LOSS [$'MILLION} Flnanclal Year Ended 30 June 2018 2019 2020 2021 2022 Revenue 97.? 117.2 124.7 112.9 122.6 Gross Profit 25.4 35.2 43.0 42.4 49.3 GP Margin 26.0% 30.0% 34.5% 37.6% 40.2% Profit Before Tax [PET] 1 .4 5.8 12.2 13.8 16.4 Profit After Tax (PAT) 0.9 2.9 7.5 9.3 11 .3 Prot Attributable to Equity 1.2 2.9 7.6 9.9 11.4 holders of the Company BALANCE SHEET ($'MILLION) As At 30 June 2018 2019 2020 2021 2022 Current Assets 54.5 72.6 82.8 96.6 111.9 Non-Current Assets 358.6 376.3 378.6 362.7 364.4 Total Assets 413.1 443.9 461 .4 459.3 476.3 Current Liabilities 51.6 69,4 60.0 57.4 66.6 Non -Cu rrent Liabilities 111.8 127.0 142.1 131.0 128.8 Total Liabilities 1 63.4 196.4 202.1 138.4 195.4 Net Assets 249.? 252.5 259.3 270.9 280.9 Net Assets Attributable to Equity Holders 249.5 252.3 259.2 270.9 280.9 01' the Company - + 60% CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For The Financial Year Ended 30 June 2022 Group Note 2022 2021 $'000 $'000 Revenue 122,588 112,949 Cost of sales (73,247) (70,510) Gross profit 49,341 42,439 Other income 7 2,610 4,470 Impairment loss on financial assets - net (2,223) (1,557) Other losses - net (459) (1,872) Expenses Administrative (1,129) (1,049) - Other operating (28,969) (25,761) Finance (2,766) (2,973) Share of (loss)/profit of associated companies (13) 100 Share of profit of a joint venture 30 Profit before income tax 16,392 13,827 Income tax expense 10 (5,064) (4,015) Total profit 11,328 9,812 Other comprehensive (loss)/income: Items that may be subsequently reclassified to profit or loss: Currency translation differences arising from consolidation (Losses)/gains (448) 1,179 Total comprehensive income 10,880 10,991 Profit/(Loss) attributable to: Equity holders of the Company 11,391 9,873 Non-controlling interest (63) (61) 11,328 9,812 Total comprehensive income/(loss) attributable to: Equity holders of the Company 10,935 11,059 Non-controlling interest (55) (68) 10,880 10,991 Earnings per share attributable to equity holders of the Company Basic and diluted 11 4.90 cents 4.25 centsBALANCE SHEETS As At 30 June 2022 Group Company 2022 2021 2022 2021 Note $'000 $'000 $'000 $'000 ASSETS Current assets Cash and cash equivalents 12 55,974 45,512 366 800 Financial assets, at fair value through profit or loss 13 211 294 1 1 Trade and other receivables 14 51,470 47,081 Tax recoverable 42 121 Inventories 15 2,128 1,895 Other assets 16 2,032 1,752 111,857 96,655 375 809 Non-current assets Other assets 16 1,196 Other receivables 17 535 13,239 43,131 Investments in associated companies 18 2,969 2,898 1,020 1,020 Investments in subsidiaries 20 44,884 44,884 Property, plant and equipment 21 346,654 346,867 Right-of-use assets 22 13,183 11,872 Deferred income tax assets 27 398 503 364,400 362,675 89,143 89.035 Total assets 476,257 459,330 89,518 89,844 LIABILITIES Current liabilities Trade and other payables 24 40,597 35,378 259 277 Current income tax liabilities 4,817 2.998 Borrowings 25 21,191 19,053 66,605 57,429 259 277 Non-current liabilities Trade and other payables 24 5,361 4,761 Borrowings 25 95,083 97,981 Deferred income tax liabilities 27 28,313 28,215 128,757 130,957 Total liabilities 195,362 188,386 259 277 NET ASSETS 280.895 270,944 89,259 89,567 EQUITY Capital and reserves attributable to the equity holders of the Company Share capital 28 87,340 87,340 87,340 87,340 Other reserves 29 (882) (426) Retained earnings 194,466 184,004 1.919 2,227 280,924 270,918 39,259 89,567 Non-controlling interest (29) 26 Total equity 280,895 270,944 89,259 89,567 The accompanying notes form an integral part of these financial statements.CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For The Financial Year Ended 30 June 2022 Attributable to equity holders of the Company Non- Share Other Retained controlling Total Note capital reserves earnings Total interest equity $'000 $'000 $'000 $'000 $'000 $'000 2022 Beginning of financial year 87,340 (426) 184,004 270,918 26 270,944 Profit/(Loss) for the year 11,391 11,391 (63) 11,328 Other comprehensive (loss)/income for the year 456 (456) 8 (448) Total comprehensive (loss)/income for the financial year (456) 11,391 10,935 (55) 10,880 Dividend relating to 2021 paid 30 (929) (929) (929) End of financial year 87,340 882 194,466 280,924 (29) 280,895 2021 Beginning of financial year 87,340 (2,964) 174,828 259,204 94 259,298 Profit/(Loss) for the year 9,873 9,873 (61) 9,812 Other comprehensive income/(loss) for the year 1,186 1,186 (7 ) 1,179 Total comprehensive income/(loss) for the financial year 1,186 9,873 11,059 (68) 10,991 Asset acquisition 29(b) 1,352 1,352 1,352 Dividend relating to 2020 paid 30 (697) (697) (697 End of financial year 87,340 (426) 184,004 270,918 26 270,944CONSOLIDATED STATEMENT OF CASH FLOWS For The Financial Year Ended 30 June 2022 2022 2021 Note $'000 $'000 Cash flows from operating activities Total profit 11,328 9,812 Adjustments for: - Income tax expense 5,064 4,015 -Depreciation of property, plant and equipment 30,650 30,831 Depreciation of right-of-use assets 1,242 1,219 Gain on disposal of property, plant and equipment (290) (786) - Fair value loss on financial assets, at fair value through profit or loss 82 30 - Bad debt written off 7 - Impairment written back on other receivables (21) Impairment loss on trade receivables - net 2,223 1,578 - Interest income (379) (220) - Interest expense 2,766 2,975 - Loss on disposal of interest in an associated company - Share of loss/(profit) of associated companies 13 (100) - Share of profit of a joint venture (30) - Translation differences 1,036 1,312 Operating cash flow before working capital changes 53,735 50,630 Change in operating assets and liabilities Inventories (233) 246 Trade and other receivables (6,595) (3,096) Other current assets (280) (599) Trade and other payables (6,734) (14,144) Cash generated from operations 39,893 33,037 Income tax paid (2,932) (3,978) Net cash provided by operating activities 36,961 29,059 Cash flows from investing activities Purchase of property, plant and equipment (13,211) (7,965) Purchase of structured deposits (1,196) Interest received 379 220 Fixed deposits (pledged)/unpledged (277) 200 Asset acquisition 35 627 Proceeds from disposal of shareholding in an associated company 3 Proceeds from disposal of property, plant and equipment 4.526 1,821 Net cash used in investing activities (9,779) (5,094) Cash flows from financing activities Proceeds from bank borrowings 10,073 11,383 Principal repayment of bank borrowings (8,523) (5,294) Repayment of other secured borrowings (13,752) (18,947) Interest paid (2,753) (3,005) Principal repayments of lease liabilities (1,113) (1,077) Dividends paid to equity holders of the Company (929) (697) Net cash used in financing activities (16,997) (17,637) Net increase in cash and cash equivalents 10,185 6,328 Cash and cash equivalents at beginning of financial year 44,837 38,509 Cash and cash equivalents at end of financial year 12 55,022 44,837 The accompanying notes form an integral part of these financial statements.JU70 CONSOLIDATED STATEMENT OF CASH FLOWS For The Financial Year Ended 30 June 2022 Reconciliation of liabilities arising from financing activities Non-cash changes Principal and Proceeds Hire 1 July interest from purchase of Interest 30 June 2021 payments borrowings Additions equipment expense Others 2022 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 Bank borrowings 61,943 9,569) 10,073 1,059 (13) 63,493 Other secured borrowings 42,907 (14,964) 10.002 1,212 39,157 Lease liabilities 12,184 (1,488) 2,553 375 13,624 Non-cash changes Principal and Proceeds Hire 1 July interest from purchase of | Interest 30 June 2020 payments borrowings Additions equipment expense Others 2021 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 Bank borrowings 59,797 (6,381) 11,383 (3,943) 1,057 30 61,943 Other secured borrowings 52,321 (20,468) 9,533 1,521 42,907 Lease liabilities 12,483 (1,474) 778 397 12,184 The accompanying notes form an integral part of these financial statements. ANNUAL REPORT 2022 TIONG WOON CORPORATION HOLDING LTD 67