Financial Performance - Total revenue for the fiscal year 2024 was approximately SGD 61.8 million, a decrease of about 30.9% compared to the fiscal year 2023[9]. - Net profit fell approximately 79.7% from SGD 3.9 million in fiscal year 2023 to about SGD 0.8 million in fiscal year 2024[9]. - Gross profit for the fiscal year was approximately SGD 18.9 million, down approximately 31.5% from SGD 27.6 million in the previous year[78]. - Profit attributable to shareholders for the year was approximately SGD 0.3 million, compared to SGD 2.9 million in 2023[78]. - The total cash and cash equivalents as of December 31, 2024, were approximately SGD 31.7 million, an increase from SGD 28.4 million in 2023, after deducting the dividend distribution of approximately SGD 1.3 million for the year[78]. - The group maintained a stable gross profit margin of 30.6% for the year ending December 31, 2024, compared to 30.8% in 2023[87]. - The group’s total cash and cash equivalents increased to approximately SGD 31.7 million as of December 31, 2024, compared to SGD 28.4 million in 2023[96]. - Employee costs, including director remuneration, were approximately SGD 7.6 million for the year ended December 31, 2024, down from SGD 8.8 million in 2023[112]. Revenue Breakdown - Revenue from the US furniture sales segment was approximately SGD 39.4 million, a decrease of about 30.1%, accounting for approximately 63.7% of total group revenue[9]. - Revenue from the interior design segment was approximately SGD 5.3 million, a decrease of about 38.4% due to a slowdown in the high-end real estate market[10]. - Furniture sales segment generated revenue of approximately SGD 17.1 million for the year ending December 31, 2024, down from SGD 24.5 million in 2023, primarily due to a slowdown in the high-end residential market[80]. - Revenue from Singapore sales points decreased to approximately SGD 9.2 million for the year ending December 31, 2024, compared to SGD 14.9 million in 2023[80]. - Interior design and renovation services revenue decreased from approximately SGD 8.6 million in the fiscal year ending December 31, 2023, to approximately SGD 5.3 million for the fiscal year ending December 31, 2024, a decline of about 38.4%[82]. - Total group revenue decreased by approximately 30.9% from SGD 89.5 million for the fiscal year ending December 31, 2023, to approximately SGD 61.8 million for the fiscal year ending December 31, 2024[86]. Corporate Governance - The company has adopted corporate governance standards in line with the Hong Kong Stock Exchange's listing rules to enhance transparency and accountability[15]. - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors[22]. - The company held four board meetings during the reporting period, with most directors in attendance[24]. - The company has adopted the standard code of conduct for securities transactions as per the Listing Rules[18]. - All directors confirmed compliance with the standard code throughout the reporting period[19]. - The company will establish written guidelines for employees regarding securities transactions to ensure compliance with sensitive price-sensitive information[19]. - The board is responsible for leading and monitoring the company, ensuring effective internal controls and risk management systems[30]. - The company provides appropriate insurance coverage for directors and senior management against legal claims arising from business activities[31]. - Directors are encouraged to participate in ongoing professional development to maintain relevant knowledge and skills[33]. - The remuneration committee ensures that no director determines their own remuneration, adhering to corporate governance guidelines[40]. - The company has adopted a nomination policy outlining key selection criteria and principles for board appointments and succession planning[51]. Risk Management - The board confirmed the effectiveness of its risk management and internal control systems, which include regular monitoring of economic and market conditions in key operational countries[55]. - The company has implemented strict quality control policies to mitigate operational risks, including surprise inspections of suppliers and monitoring of logistics performance[55]. - The group faces market risks due to economic and policy changes in countries where it operates, including the USA, Singapore, and Malaysia[105]. - Credit risk primarily arises from trade receivables from US customers, with established credit terms and procedures for collection[107]. - The group is exposed to foreign exchange risks due to fluctuations in exchange rates between SGD and currencies such as USD and EUR[108]. Future Outlook - The company anticipates challenges in fiscal year 2025 due to ongoing high interest rates and geopolitical tensions affecting consumer spending and furniture demand[11]. - The company is focused on seeking new business activities beneficial to shareholders during this challenging period[76]. - The company plans to enhance its digital marketing strategies, aiming for a 40% increase in online sales[125]. - The company provided guidance for the next fiscal year, projecting revenue growth of 25% and aiming for $187.5 million[125]. - New product launches are expected to contribute an additional $30 million in revenue, with a focus on innovative designs and sustainability[125]. - A strategic acquisition of a local competitor is anticipated to enhance operational capabilities and increase market penetration[125]. Employee and Board Diversity - The company has 104 full-time employees as of December 31, 2024, down from 123 in 2023, with a gender distribution of 39 males and 65 females[46]. - As of December 31, 2024, the board has two female members, representing 25% of the total board composition, with a goal to maintain or increase this level[45]. - The board emphasizes the importance of diversity in achieving strategic goals and sustainable development, considering various factors such as gender, age, and professional experience[47]. - The company is committed to maintaining gender diversity and equality in its workforce and providing career development opportunities for all employees[46]. - The nomination committee will report on board composition and monitor the implementation of the board diversity policy annually[45]. Shareholder Information - The group did not recommend a final dividend for the year ended December 31, 2024, compared to a final dividend of HKD 0.38 per share in 2023[116]. - The largest customer accounted for approximately 23.6% of the group's revenue, while the top five customers collectively represented about 65.6%[164]. - The group’s major suppliers accounted for approximately 28.9% of total purchases, with the largest supplier representing about 7.7%[164]. - The company does not have any tax relief or exemptions for shareholders related to holding its securities[180]. - The company has not granted any rights to directors or their family members to acquire shares or securities since its incorporation[188].

Financial Performance - Total revenue for the year ended December 31, 2024, was SGD 61.831 million, a decrease of 30.9% compared to SGD 89.506 million in 2023[3] - Gross profit for the same period was SGD 18.916 million, down 31.5% from SGD 27.611 million in the previous year[3] - Net profit for the year was SGD 789,000, representing a significant decline of 79.7% from SGD 3.882 million in 2023[3] - Earnings per share attributable to shareholders decreased by 85.7%, from 0.14 cents to 0.02 cents[3] - The company reported a total comprehensive income of SGD 1.573 million for the year, down from SGD 3.300 million in 2023[4] - The group reported a pre-tax profit of SGD 321,000 for the year ended December 31, 2024, a significant decrease from SGD 2,892,000 in 2023[29] - Net profit decreased by approximately 79.7% from approximately SGD 3.9 million for the fiscal year ending December 31, 2023, to approximately SGD 0.8 million for the fiscal year ending December 31, 2024, primarily due to reduced revenue[54] Assets and Liabilities - Total assets as of December 31, 2024, amounted to SGD 68.393 million, down from SGD 72.044 million in 2023[5] - Current liabilities decreased from SGD 18.843 million in 2023 to SGD 15.082 million in 2024[5] - Non-current liabilities totaled SGD 10.254 million, a decrease from SGD 11.524 million in the previous year[6] - The total assets of the group amounted to SGD 81,488,000, with the furniture sales segment holding SGD 42,134,000 in assets[16] - The group reported a total liability of SGD 25,336,000, with the furniture sales segment accounting for SGD 14,382,000[16] - The group's trade receivables decreased to SGD 5.784 million in 2024 from SGD 8.748 million in 2023, reflecting a reduction of approximately 33.5%[32] - The expected credit loss provision for trade receivables was SGD 241,000 in 2024, down from SGD 559,000 in 2023, indicating a decrease of approximately 56.8%[36] - The aging analysis of trade receivables showed that amounts overdue by more than three months increased to SGD 291,000 in 2024 from SGD 11,000 in 2023, a significant increase[35] - The trade payables increased to SGD 3.080 million in 2024 from SGD 2.845 million in 2023, reflecting an increase of approximately 8.2%[39] - The expected credit loss provision for overdue trade receivables over three months was 40.73% in 2024, a significant decrease from 98.53% in 2023[37] Revenue Breakdown - The total segment revenue for the year ended December 31, 2024, was SGD 62,068,000, with the largest contribution from furniture sales at SGD 39,398,000[16] - The group’s revenue from customer contracts totaled SGD 61,831,000, with SGD 39,398,000 derived from furniture sales[22] - The revenue recognized at a point in time was SGD 48,590,000, while revenue recognized over time was SGD 13,241,000[22] - The revenue from the US furniture sales segment was approximately SGD 39.4 million for the fiscal year 2024, down about 30.1% from SGD 56.4 million in 2023, accounting for approximately 63.7% of the group's total revenue[42] - The furniture sales division generated revenue of approximately SGD 17.1 million for the fiscal year ending December 31, 2024, down from approximately SGD 24.5 million in 2023, primarily due to a slowdown in the high-end residential market[44] - Revenue from Singapore sales points decreased to approximately SGD 9.2 million for the fiscal year ending December 31, 2024, compared to approximately SGD 14.9 million in 2023[44] - The interior design division's revenue decreased from approximately SGD 8.6 million for the fiscal year ending December 31, 2023, to approximately SGD 5.3 million for the fiscal year ending December 31, 2024, a decline of about SGD 3.3 million[45] Expenses and Costs - Selling and distribution expenses decreased by approximately SGD 2.3 million or 16.6%, from approximately SGD 13.8 million for the fiscal year ending December 31, 2023, to approximately SGD 11.5 million for the fiscal year ending December 31, 2024[49] - Administrative expenses decreased by approximately SGD 2.6 million or 27.0%, from approximately SGD 9.5 million for the fiscal year ending December 31, 2023, to approximately SGD 6.9 million for the fiscal year ending December 31, 2024[50] - Financing costs decreased by approximately 6.0% from approximately SGD 0.8 million for the fiscal year ending December 31, 2023, to approximately SGD 0.7 million for the fiscal year ending December 31, 2024[51] - The total depreciation expense for the year was SGD 1,104,000, up from SGD 921,000 in 2023, indicating an increase of 19.8%[26] - The company incurred total financing costs of SGD 711,000 in 2024, slightly down from SGD 756,000 in 2023[25] Corporate Governance and Compliance - The group maintains a high level of corporate governance standards, ensuring shareholder interests are protected[70] - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance by all directors during the reporting period[75] - The audit committee consists of five members, including independent non-executive directors, with the chairman being Lin Wenzheng[78] - The audit committee has reviewed the company's annual performance for the fiscal year ending December 31, 2024[79] - The company's auditor, Ernst & Young, confirmed that the financial data in the preliminary announcement aligns with the consolidated financial statements for the year[80] - The board of directors includes both executive and non-executive members, ensuring compliance with governance standards[82] Future Outlook and Shareholder Information - The board does not recommend a final dividend for the year ended December 31, 2024, maintaining the previous year's dividend of SGD 0.0038 per share[28] - The annual general meeting is scheduled for June 16, 2025, with relevant information to be published in accordance with listing rules[76] - Share registration will be suspended from June 11 to June 16, 2025, to determine eligibility for attending the annual general meeting and voting[77] - The annual report for the fiscal year ending December 31, 2024, will be sent to shareholders as needed and available on the company's website[81]

DESIGN CAPITAL LIMITED 設計都會有限公司 FEND 中期報告 2024 於開曼群島註冊成立之有限公司 股份代號 1545 | --- | --- | --- | --- | |-------|-------|----------------------------------|-------| | | | | | | | | | | | | | 目錄 | | | | | | | | | | | | | | 2 | 公司資料 | | | | 3 | 管理層討論及分析 | | | | 7 | 中期簡明綜合損益及其他全面收益表 | | | | 9 | 中期簡明綜合財務狀況表 | | | | 11 | 中期簡明綜合權益變動表 | | | | 13 | 中期簡明綜合現金流量表 | | | | 15 | 中期簡明綜合財務報表附註 | | | | 29 | 其他資料 | | 設計都會有限公司 / 2024年中期報告 FEND 公司資料 | --- | --- | |------------------------------------------------|-------------------- ...

Financial Performance - Revenue for the six months ended June 30, 2024, was SGD 31,459,000, a decrease of 32.1% compared to SGD 46,345,000 for the same period in 2023[1]. - Gross profit for the same period was SGD 9,180,000, down 28.3% from SGD 12,809,000 in 2023[1]. - Net profit for the period was SGD 239,000, representing a decline of 67.4% from SGD 733,000 in the previous year[1]. - Earnings per share attributable to shareholders was SGD 0.01, a decrease of 66.7% compared to SGD 0.03 in 2023[1]. - Total comprehensive income for the period was SGD 1,111,000, slightly up from SGD 1,015,000 in the previous year[3]. - The group reported a net profit of SGD 1,061 thousand for the six months ended June 30, 2023, reflecting a significant performance improvement[16]. - The group reported a pre-tax profit of SGD 253,000 for the six months ended June 30, 2024, compared to SGD 656,000 for the same period in 2023, reflecting a decline of approximately 61.5%[26]. - The group’s profit decreased by approximately 67.4% from about SGD 0.7 million for the six months ended June 30, 2023, to about SGD 0.2 million for the six months ending June 30, 2024[47]. Assets and Liabilities - Non-current assets increased to SGD 15,369,000 as of June 30, 2024, compared to SGD 14,873,000 as of December 31, 2023[5]. - Current assets decreased to SGD 71,539,000 from SGD 72,044,000 at the end of 2023[5]. - Total liabilities increased to SGD 19,897,000 from SGD 18,843,000 at the end of 2023[5]. - The group's total assets amounted to SGD 86,917 thousand as of December 31, 2023, with liabilities totaling SGD 30,367 thousand[17]. - Total liabilities, including accrued expenses and other payables, amounted to SGD 7.634 million as of June 30, 2024, compared to SGD 6.185 million as of December 31, 2023[36]. - The group reported a decrease in trade payables from SGD 2.845 million as of December 31, 2023, to SGD 2.528 million as of June 30, 2024[35]. Cash Flow and Financing - Cash and cash equivalents increased to SGD 34,943,000 from SGD 28,350,000 at the end of 2023[5]. - The group held cash and cash equivalents totaling approximately SGD 34.9 million as of June 30, 2024, compared to about SGD 28.4 million as of December 31, 2023[48]. - The group’s cash and bank balances (excluding fixed deposits) increased to SGD 32.537 million as of June 30, 2024, from SGD 15.875 million as of December 31, 2023[33]. - The average borrowing rate for the group’s lease liabilities ranged from 5.25% to 7.00% as of June 30, 2024, unchanged from the previous year[28]. - The group had unutilized bank financing of approximately SGD 2.8 million as of June 30, 2024, compared to SGD 2.2 million as of December 31, 2023[56]. Revenue Segments - The interior design segment generated revenue of SGD 2,510 thousand, while the furniture sales segment in Singapore contributed SGD 12,994 thousand[16]. - The group’s service income from interior design for the six months ended June 30, 2024, was SGD 1,476,000, compared to SGD 2,490,000 in 2023, reflecting a decrease of approximately 40.7%[20][22]. - The group’s total sales of furniture in the U.S. for the six months ended June 30, 2024, amounted to SGD 22,031,000, compared to SGD 30,999,000 in 2023, indicating a decline of about 29.1%[20][22]. - The U.S. furniture sales segment's revenue decreased from approximately SGD 31.0 million for the six months ended June 30, 2023, to about SGD 22.0 million for the same period in 2024[41]. - The furniture sales revenue decreased by approximately 38.1% from about SGD 12.9 million for the six months ended June 30, 2023, to about SGD 8.0 million for the six months ending June 30, 2024[42]. - The interior design segment's revenue fell by 40.7% from approximately SGD 2.5 million for the six months ended June 30, 2023, to about SGD 1.5 million for the six months ending June 30, 2024[43]. Employee and Operational Metrics - As of June 30, 2024, the group had 112 full-time employees, a decrease from 130 employees as of June 30, 2023[54]. - Employee costs amounted to approximately SGD 3.7 million for the period, down from SGD 4.4 million in the previous year[54]. Corporate Governance and Compliance - The company has adopted corporate governance principles and has complied with applicable rules, except for a specific guideline regarding the separation of roles between the Chairman and CEO[60]. - The audit committee consists of five members, including independent non-executive directors, ensuring compliance with listing rules[64]. - The interim results announcement will be published on the stock exchange and the company's website, with the interim report to be sent to shareholders in due course[65]. Market Outlook and Strategy - The group aims to capture a larger market share in the luxury market with the opening of the new "Fendi Casa" showroom in July 2024[45]. - The interior design segment is expected to contribute positively to the group in the second half of the 2024 fiscal year due to existing projects and a loyal customer base[46]. Risks and Challenges - The group faced financial risks including credit risk, foreign exchange risk, liquidity risk, and capital risk, with no changes to its financial risk management policy since the fiscal year ending December 31, 2023[12]. - The company continues to face challenges due to high interest rates and reduced disposable income affecting consumer spending on non-essential items like furniture[40].

Financial Performance - Total revenue for the fiscal year 2023 was approximately SGD 89.5 million, a decrease of about 7.3% compared to SGD 96.5 million in fiscal year 2022[8]. - Net profit decreased by approximately 24.8% from SGD 5.2 million in fiscal year 2022 to about SGD 3.9 million in fiscal year 2023[8]. - The furniture sales division recorded revenue of approximately SGD 56.4 million, accounting for about 63.0% of total group revenue, a decrease of approximately 11.6% from the previous year[8]. - The interior design division achieved revenue of approximately SGD 8.6 million, an increase of about 24.3% due to strong sales in real estate projects[9]. - The company's gross profit margin improved from approximately 29.9% in the fiscal year 2022 to 30.8% in the fiscal year 2023[81]. - Gross profit was approximately SGD 27.6 million for the year ended December 31, 2023, a decrease of about 4.3% from SGD 28.9 million in 2022[83]. - The group’s profit for the year decreased by approximately 24.8% to about SGD 3.9 million for the year ended December 31, 2023, down from SGD 5.2 million in 2022[99]. - The revenue for the US furniture sales segment was approximately SGD 56.4 million for the year ended December 31, 2023, a decrease of about 11.6% compared to SGD 63.8 million in 2022, accounting for approximately 63.0% of the group's total revenue[82]. Cash and Inventory Management - The inventory reduced from approximately SGD 43.5 million in fiscal year 2022 to about SGD 33.2 million in fiscal year 2023, while cash increased from SGD 20.9 million to SGD 28.4 million[8]. - Cash reserves increased from approximately SGD 20.9 million in the fiscal year 2022 to about SGD 28.4 million in the fiscal year 2023[83]. - The company's current assets totaled approximately SGD 72.0 million, down from SGD 77.3 million in 2022, while current liabilities decreased to approximately SGD 18.8 million from SGD 25.2 million[100]. - The current ratio improved to approximately 3.8 as of December 31, 2023, compared to 3.1 in 2022[100]. Corporate Governance - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors[23]. - The company has adopted a standard code of conduct for securities transactions as per the listing rules, ensuring compliance by all directors[19]. - The board is responsible for guiding and monitoring the company's affairs, ensuring effective internal controls and risk management systems[31]. - The company will appoint a new independent non-executive director, Huang Qunshun, effective April 2, 2024, to meet compliance requirements[17]. - All independent non-executive directors have confirmed their independence in accordance with the listing rules[28]. - The company provides appropriate insurance coverage for directors and senior management against legal claims arising from business activities[32]. - The board proposed a final dividend of HKD 0.38 per ordinary share for the year ended December 31, 2023, consistent with the previous year[122]. Employee and Board Diversity - As of December 31, 2023, the board consists of 25% female members, with a goal to maintain this level and ultimately achieve gender equality[48]. - The company has 123 full-time employees as of December 31, 2023, with a gender distribution of 51 males and 72 females[49]. - The company is committed to maintaining gender diversity and equality across its workforce and ensuring career development opportunities for all employees[49]. - The company has established a board diversity policy aimed at enhancing operational performance and quality[46]. Risk Management and Compliance - The Audit Committee held two meetings during the reporting period to review interim and annual financial performance and significant financial reporting matters[38]. - The board regularly monitors economic, policy, social, and market conditions in countries where the company operates, including the US, Singapore, and Malaysia[57]. - The company has implemented strict quality control policies to mitigate operational risks, including surprise inspections of suppliers and monitoring logistics performance[57]. - The board has confirmed the effectiveness of the risk management and internal control systems, which are designed to manage rather than eliminate risks[59]. - The company has engaged external professional firms to provide independent reviews of its risk management and internal control systems[59]. Strategic Initiatives and Future Outlook - The company plans to continue focusing on nurturing new brands and products in the furniture sales division and expanding its offerings[9]. - A distribution agreement with the renowned furniture brand Fendi Casa has been successfully established, with a new showroom set to open in the second quarter of fiscal year 2024[9]. - The company is focused on enhancing digital marketing strategies, aiming for a J% increase in online sales channels[133]. - The management team emphasized a commitment to sustainability, with plans to reduce carbon footprint by I% by 2025[133]. Shareholder Information - The company reported a final dividend of HKD 0.38 per ordinary share for the year ended December 31, 2023, consistent with the previous year[163]. - There were no arrangements for shareholders to waive or agree to waive any dividends during the year ended December 31, 2023[164]. - The largest customer accounted for approximately 26.8% of the group's revenue, while the top five customers collectively represented about 64.3% of total revenue[178]. - The company has no significant capital commitments or contingent liabilities as of December 31, 2023[106][107].

Financial Performance - Total revenue for the year ended December 31, 2023, was SGD 89.506 million, a decrease of 7.3% compared to SGD 96.525 million in 2022[3] - Gross profit for the same period was SGD 27.611 million, down 4.3% from SGD 28.864 million in 2022[3] - Net profit for the year was SGD 3.882 million, representing a decline of 24.8% from SGD 5.161 million in the previous year[3] - Earnings per share attributable to shareholders decreased by 39.1% to 0.14 cents from 0.23 cents in 2022[3] - The company reported a total comprehensive income of SGD 3.300 million for the year, down from SGD 5.054 million in 2022[4] - The pre-tax profit for the group was SGD 2,892,000 for the year ended December 31, 2023, down from SGD 4,543,000 in 2022, representing a decline of approximately 36.4%[31] - Profit for the year decreased by approximately 24.8% from SGD 5.2 million for the year ended December 31, 2022, to approximately SGD 3.9 million for the year ended December 31, 2023[68] Revenue Breakdown - The segment revenue for the "Interior Design" business was SGD 8.585 million, up from SGD 6.906 million, reflecting an increase of approximately 24.4%[17][18] - The "Furniture Sales" segment generated revenue of SGD 24.520 million, down from SGD 25.817 million, indicating a decrease of about 5%[17][18] - The "US Furniture Sales" segment reported revenue of SGD 56.401 million, a decrease from SGD 63.802 million, representing a decline of approximately 11.6%[17][18] - The revenue from the US furniture sales segment was approximately SGD 56.4 million, down about 11.6% from SGD 63.8 million in 2022, accounting for approximately 63.0% of the group's total revenue[50] - The furniture sales segment generated revenue of approximately SGD 24.5 million, a decrease from SGD 25.8 million in 2022, primarily due to reduced income from the "OM" brand[53] - The revenue from special projects in the furniture sales segment increased from approximately SGD 5.5 million in 2022 to approximately SGD 9.6 million in 2023, driven by the successful completion of several large projects[54] - The interior design segment's revenue increased from approximately SGD 6.9 million in 2022 to approximately SGD 8.6 million in 2023, attributed to an increase in the number of projects secured in Singapore and overseas[55] Assets and Liabilities - Total assets as of December 31, 2023, amounted to SGD 72.044 million, down from SGD 77.264 million in 2022[5] - Current liabilities decreased to SGD 18.843 million from SGD 25.195 million in 2022, indicating improved liquidity[5] - Cash and cash equivalents increased to SGD 28.350 million from SGD 20.874 million in the previous year, reflecting a stronger cash position[5] - Non-current assets totaled SGD 14.873 million, a decrease from SGD 16.389 million in 2022[5] - Total segment assets as of December 31, 2023, amounted to SGD 86.917 million, compared to SGD 93.653 million in the previous year, a decrease of about 7.2%[17][18] - Total segment liabilities increased to SGD 30.367 million from SGD 38.517 million, a decrease of approximately 21.2%[17][18] Expenses - Sales and distribution expenses rose by approximately SGD 1.3 million or 10.3% to approximately SGD 13.8 million in 2023, primarily due to increased warehouse rental costs[62] - Administrative expenses decreased by approximately SGD 0.1 million or 0.7% from SGD 9.6 million for the year ended December 31, 2022, to approximately SGD 9.5 million for the year ended December 31, 2023[63] - Employee costs, including directors' remuneration, were approximately SGD 8.7 million for the year ended December 31, 2023, down from SGD 9.3 million for the year ended December 31, 2022[78] Dividends - The board recommended a final dividend of 0.38 cents per ordinary share for the year ended December 31, 2023, unchanged from 2022[30] - The group proposed a final dividend of HKD 0.38 per share for the year ending December 31, 2022, which was approved by shareholders in June 2023[48] - The board proposed a final dividend of HKD 0.38 per ordinary share for the year ended December 31, 2023, consistent with the previous year[83] - The company plans to distribute a final dividend from the share premium account without affecting the capital or share value[85] Corporate Governance - The board is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[91] - The company has established a corporate governance framework and policies in accordance with the Listing Rules[92] - The board believes that the dual role of the chairman and CEO is in the best interest of the group, despite the corporate governance code's recommendation[93] - Following the resignation of Mr. Wee Kang Keng on January 3, 2024, the board currently has only two independent non-executive directors, which does not meet the minimum requirements of the Listing Rules[96] - The company is currently working to appoint suitable candidates to fill the vacancies on the board as required by the Listing Rules[96] Future Outlook - The group plans to exit the mass market segment under the "OM" brand due to its underperformance and will continue to focus on the luxury market and expand its product range in the fiscal year ending December 31, 2024[53][58] - The group anticipates that the interior design segment will make a positive contribution in the fiscal year 2024, supported by a strong project pipeline and loyal customer base[59] - The group will manage its business cautiously in the fiscal year 2024 in response to potential global economic slowdowns and geopolitical tensions affecting consumer sentiment[57] Other Information - The annual general meeting of the company is scheduled for June 20, 2024[98] - The company's share register will be temporarily closed from June 17, 2024, to June 20, 2024, for shareholders to attend the annual general meeting and vote[100] - The share register will also be temporarily closed from June 27, 2024, to June 28, 2024, to determine the entitlement to the proposed final dividend, pending shareholder approval[101] - The audit committee consists of five members as of December 31, 2023, with Lin Wenzheng serving as the chairman[102] - The audit committee has reviewed the company's annual performance for the year ending December 31, 2023[103] - The company's auditor, Ernst & Young, has agreed that the financial data in the preliminary announcement is consistent with the group's financial statements for the year[105] - The annual report for the year ending December 31, 2023, will be sent to shareholders as needed and will be available on the company's website[106] - The chairman and executive director of the company is Ruan Youren[107] - The board of directors includes both executive and non-executive members, ensuring a diverse governance structure[108]

設計都會有限公司 / 2023年中期報告 目錄 | 公司資料 | | --- | | 2 | 3 管理層討論及分析 8 中期簡明綜合損益及其他全面收益表 10 中期簡明綜合財務狀況表 12 中期簡明綜合權益變動表 14 中期簡明綜合現金流量表 16 中期簡明綜合財務報表附註 29 其他資料 公司資料 董事會 執行董事 阮友仁先生 （主席兼行政總裁） Wee Ai Quey女士 王秋華女士 非執行董事 高泉泰先生 林瑞慶先生 獨立非執行董事 林文正先生 吳志光先生 Wee Kang Keng先生 審核委員會 鍾希汶女士 授權代表 阮友仁先生 鍾希汶女士 核數師 新加坡Ernst & Young LLP 認可公眾利益實體核數師 林文正先生 （主席） 吳志光先生 Wee Kang Keng先生 林瑞慶先生 高泉泰先生 薪酬委員會 吳志光先生 （主席） 林文正先生 Wee Kang Keng先生 林瑞慶先生 阮友仁先生 提名委員會 阮友仁先生 （主席） 林文正先生 吳志光先生 Wee Kang Keng先生 高泉泰先生 公司秘書 開曼群島註冊辦事處 Cricket Square Hutchins Drive PO B ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任何損失承擔任何責任。 Design Capital Limited 設 計 都 會 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1545） 截 至2023年6月30日 止 六 個 月 中 期 業 績 公 告 財 務 撮 要 截至以下日期止六個月 2023年 2022年 6月30日 6月30日 變動 千新加坡元 千新加坡元 % 收益 46,345 44,698 3.7% 毛利 12,809 13,200 -3.0% 期內溢利 733 1,873 -60.9% 本公司股東應佔每股盈利（仙） 0.03 0.08 -62.5% ...

Financial Performance - Total revenue for the fiscal year 2022 was SGD 96.5 million, an increase of approximately SGD 7.3 million compared to fiscal year 2021[7]. - Net profit decreased by approximately 12.8% to about SGD 5.2 million in fiscal year 2022 from approximately SGD 5.9 million in fiscal year 2021[7]. - Revenue from the US furniture sales segment was approximately SGD 63.8 million, representing a 13.1% increase and accounting for about 66.1% of total group revenue[7]. - The gross profit for the fiscal year ended December 31, 2022, was approximately SGD 28.9 million, up from SGD 27.1 million in 2021, representing an increase of about 6.6%[70]. - The gross profit margin decreased from approximately 30.4% in 2021 to about 29.9% in 2022, primarily due to a higher revenue contribution from the lower-margin US furniture sales segment[78]. - Sales and distribution expenses increased by approximately SGD 1.3 million or 11.8% to about SGD 12.5 million for the fiscal year ended December 31, 2022[79]. - The group's financing cost increased by approximately 6.0% from about SGD 0.8 million for the year ended December 31, 2021, to about SGD 0.9 million for the year ended December 31, 2022[81]. - Other income and gains decreased by approximately SGD 1.5 million or 70.2%, from about SGD 2.1 million for the year ended December 31, 2021, to about SGD 0.6 million for the year ended December 31, 2022[84]. - Profit for the year decreased by approximately 12.8%, from about SGD 5.9 million for the year ended December 31, 2021, to about SGD 5.2 million for the year ended December 31, 2022[86]. Dividends - A final dividend of HKD 0.38 per ordinary share is proposed, subject to approval at the upcoming annual general meeting[10]. - The board proposed a final dividend of HKD 0.38 per ordinary share for the fiscal year ended December 31, 2022, down from HKD 1.00 per share in 2021[70]. - The payment of the final dividend is subject to approval by shareholders at the annual general meeting and confirmation that the company can meet its debts after the dividend payment[110]. - If the conditions for the final dividend are not met, it will not be paid[111]. - The distribution of the final dividend from the share premium account will not involve any reduction in the company's capital or share value, and is not expected to have a significant adverse impact on the group's financial position[112]. - The company reported a final dividend of HKD 0.38 per ordinary share for the year ended December 31, 2022, down from HKD 1.00 per share in 2021[144]. Business Strategy and Operations - The company plans to seek new showroom opportunities to expand its furniture business in Singapore during fiscal year 2023[8]. - The company achieved significant contributions from the new Marina Square showroom, which was opened during the COVID-19 pandemic[7]. - The company anticipates that the interior design segment will make a positive contribution to the group in the fiscal year 2023, supported by a strong project pipeline and loyal customer base[77]. - The group operates as a third-party e-commerce platform furniture seller in the US and a mid-to-high-end furniture retailer in Singapore[138]. - The company has been focusing on expanding its market presence in the furniture retail sector[138]. Risk Management - The company has implemented a risk management policy to address potential operational risks, including operational, credit, and market risks[50]. - The company has established strict quality control policies to mitigate operational risks, including inspections of products and supplier factories[52]. - The company has confirmed the effectiveness of its risk management and internal control systems for the reporting period[51]. - The company has a comprehensive risk management framework to address key risks and uncertainties, as discussed in the management discussion and analysis section[141]. Corporate Governance - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors[19]. - The company has confirmed the independence of all independent non-executive directors in accordance with listing rules[24]. - The chairman and CEO roles are held by the same individual, Mr. Nguyen You Ren, which the board believes serves the best interests of the company[22]. - The company has established three committees: audit committee, remuneration committee, and nomination committee, each with defined terms of reference[33]. - The audit committee is responsible for providing independent insights on the effectiveness of the group's financial reporting procedures and internal controls[35]. - The company ensures that all significant decisions are made with adequate consultation among board members and relevant committees[29]. - The board has established measurable goals for achieving diversity and will recommend these to the board for approval[39]. - The company has adopted a board diversity policy, considering various factors such as gender, age, and professional experience in board composition[41]. - The board's diversity policy aims to support strategic goals and sustainable development through a diverse board composition[41]. Employee and Management - As of December 31, 2022, the company employed 126 full-time staff, including 71 females and 55 males, with three female senior management members[43]. - Employee costs for the year ended December 31, 2022, were approximately SGD 9.3 million, down from about SGD 10.0 million in 2021[103]. - The employee compensation policy is determined by the remuneration committee based on performance, qualifications, and market statistics[179]. - All directors are required to participate in continuous professional development to maintain their knowledge and skills[31]. Shareholder Information - The company reported a total of 2,000,000,000 shares issued as of December 31, 2022[184]. - Major shareholders collectively own 900,000,000 shares, which is 45% of the total issued shares, indicating significant ownership concentration[189]. - There are no tax concessions or exemptions provided to shareholders for holding the company's securities[180]. - No shareholders waived or agreed to waive any dividends for the year ended December 31, 2022[145]. External Relations - The company is committed to maintaining effective communication with shareholders, particularly through annual general meetings and timely financial reporting[65]. - The company has arranged appropriate directors and officers liability insurance for its directors and senior management[178]. - The company has engaged external professionals to provide internal audit functions and review the adequacy of its risk management and internal control systems[51]. Environmental Responsibility - The board emphasizes the importance of environmental responsibility in executing interior design projects, particularly in Singapore, Malaysia, and Brunei[200].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任何損失承擔任何責任。 Design Capital Limited 設 計 都 會 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1545） 截 至2022年12月31日 止 年 度 全 年 業 績 公 告 財 務 撮 要 2022年 2021年 變動 千新加坡元 千新加坡元 % 收益 96,525 89,180 8.2% 毛利 28,864 27,073 6.6% 年內溢利 5,161 5,920 -12.8% 本公司股東應佔每股盈利（仙） 0.23 0.24 -4.2% 設計都會有限公司（「本公司」、「我們」或「我們的」）董事（「董事」）會（「董事會」） 欣 然 公 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至2022年12月31日 止 年 ...