Financial Performance - For the six months ended June 30, 2024, FSM Holdings Limited reported revenue of 7,043 thousand SGD, a decrease of 17.5% compared to 8,539 thousand SGD for the same period in 2023[2] - The gross profit for the same period was 2,815 thousand SGD, down 26.4% from 3,826 thousand SGD in the prior year[2] - The net loss attributable to owners of the company was 413 thousand SGD, compared to a loss of 15 thousand SGD in the previous year, indicating a significant decline in performance[3] - The company’s basic and diluted loss per share for the period was (0.0413) SGD, compared to (0.0015) SGD in the previous year[2] - The group reported total revenue of 8,539 thousand New Taiwan Dollars for the six months ended June 30, 2023, with a significant contribution from the manufacturing segment[16] - The manufacturing segment generated revenue of 6,149 thousand New Taiwan Dollars, while the online business segment reported a loss of 2,374 thousand New Taiwan Dollars[17] - The group recorded a pre-tax loss of 123 thousand New Taiwan Dollars for the six months ended June 30, 2023[16] - Total revenue from sales of products was NT$6,123,000 for the six months ended June 30, 2024, down from NT$8,312,000 in the same period of 2023, a decrease of approximately 26.4%[27] - The online business segment, specifically mobile gaming, generated revenue of approximately SGD 0.9 million for the six months ended June 30, 2024, down from approximately SGD 3 million for the same period in 2023[50] Assets and Liabilities - Total assets as of June 30, 2024, were 53,582 thousand SGD, a decrease from 55,185 thousand SGD as of December 31, 2023[4] - Total liabilities decreased to 20,370 thousand SGD from 21,073 thousand SGD, reflecting a reduction in financial obligations[5] - The company’s cash and cash equivalents stood at 38,710 thousand SGD, slightly down from 38,936 thousand SGD at the end of 2023[4] - Total assets amounted to NT$53,582,000 as of June 30, 2024, down from NT$55,185,000 as of December 31, 2023, indicating a decrease of approximately 2.9%[20] - Total liabilities decreased to NT$20,370,000 as of June 30, 2024, from NT$21,073,000 as of December 31, 2023, a reduction of about 3.3%[23] - Trade receivables as of June 30, 2024, amounted to 1,951 thousand New Taiwan Dollars, a decrease of 23.7% from 2,558 thousand New Taiwan Dollars as of December 31, 2023[41] - Total borrowings increased to 14,432 thousand New Taiwan Dollars as of June 30, 2024, up 5.4% from 13,695 thousand New Taiwan Dollars as of December 31, 2023[46] - Total liabilities decreased to 3,239 thousand New Taiwan Dollars as of June 30, 2024, down 29.0% from 4,556 thousand New Taiwan Dollars as of December 31, 2023[43] Income and Expenses - The company reported a net financial income of 110 thousand SGD for the six months ended June 30, 2024, compared to 6 thousand SGD in the same period last year[2] - The cost of goods sold for the six months ended June 30, 2024, was 1,565,000 SGD, compared to 1,767,000 SGD for the same period in 2023, representing a decrease of approximately 11.4%[30] - Employee benefits expenses for the six months ended June 30, 2024, increased to 2,796,000 SGD from 2,470,000 SGD in 2023, reflecting an increase of about 13.2%[30] - The income tax expense for the six months ended June 30, 2024, was 296,000 SGD, down from 501,000 SGD in 2023, indicating a decrease of approximately 41.0%[31] - Administrative expenses increased by approximately SGD 0.5 million or 24.4% to SGD 2.6 million for the six months ended June 30, 2024, compared to SGD 2.1 million for the same period in 2023[54] - Research and development expenses related to mobile gaming increased from approximately SGD 1.3 million for the six months ended June 30, 2023, to approximately SGD 1.4 million for the same period in 2024[55] Business Segments - The company is primarily engaged in precision engineering, sheet metal manufacturing, and online mobile game development and publishing[6] - The group is focused on enhancing its online business operations to improve profitability moving forward[15] - The group aims to maintain close relationships with manufacturing clients and enhance production efficiency through machine upgrades and robotics[51] - The board will continue to focus on developing core manufacturing operations to improve production capacity and efficiency[51] - The group plans to diversify revenue sources by developing and optimizing mobile gaming products launched in December 2020[51] Financial Management and Risk - Financial risk factors include market risk, credit risk, and liquidity risk, which the group continues to monitor[12] - The group’s financial risk management policies have remained unchanged since December 31, 2023[12] - The group’s financial estimates and judgments are consistent with those applied in the annual financial statements for the year ended December 31, 2023[11] - The group has not adopted any new accounting standards that would significantly impact its financial performance or position as of January 1, 2024[9] Corporate Governance and Compliance - The company has adhered to all applicable corporate governance codes as of June 30, 2024[73] - The Audit Committee has reviewed the unaudited condensed consolidated interim results for the six months ended June 30, 2024, and found no discrepancies with the accounting principles adopted by the company[76] - All directors confirmed compliance with the standards for securities trading as of June 30, 2024[77] - The interim results announcement will be published on the Hong Kong Stock Exchange website and the company's website, with reports sent to shareholders upon request[77] Employee and Operational Updates - As of June 30, 2024, the group employed 240 full-time employees, an increase from 207 employees as of December 31, 2023[68] - The company has a stock option plan that allows for the issuance of up to 100,000,000 shares as of both January 1, 2024, and June 30, 2024[69] Future Plans and Investments - The net proceeds from the listing amounted to approximately HKD 95.2 million, which will be utilized according to the company's future plans[70] - The company plans to enhance production capacity with an allocation of HKD 46.8 million, with expected utilization before December 31, 2024[71] - The company aims to implement greater automation in production, allocating HKD 29.1 million for this purpose[71] - The company has allocated HKD 9.4 million to strengthen its information technology systems[71] Miscellaneous - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[39] - The company has no significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures as of June 30, 2024[62] - The group has no significant contingent liabilities, guarantees, or lawsuits that could materially affect its financial position or performance as of June 30, 2024[64] - The group has no major post-reporting date events that could impact its financial performance as of the announcement date[66]

Financial Performance - Total revenue for the fiscal year 2023 was approximately SGD 16.1 million, a decrease of about 31.0% from SGD 23.3 million in fiscal year 2022[15]. - Manufacturing business revenue decreased to SGD 15.843 million, accounting for 98.58% of total revenue, down from SGD 23.264 million in the previous year[16]. - The company recorded a net loss attributable to shareholders of approximately SGD 4.9 million in fiscal year 2023, compared to a profit of SGD 2.1 million in fiscal year 2022[7]. - Gross profit decreased by approximately 44.5% to SGD 5.9 million, primarily due to reduced revenue in the manufacturing business and fixed production overhead costs[13]. - The group's gross profit for fiscal year 2023 was approximately SGD 5.9 million, a decrease of about SGD 4.8 million or 44.5% from SGD 10.7 million in fiscal year 2022, with a gross margin of approximately 37.0% compared to 46.0% in the previous year[20]. - Administrative expenses rose by approximately 6.1% to SGD 5.5 million in fiscal year 2023 from SGD 5.2 million in fiscal year 2022, mainly due to inflation and increased legal and professional fees related to business development[21]. - The group's income tax expense decreased by approximately 35.0% to SGD 0.7 million in fiscal year 2023 from SGD 1.2 million in fiscal year 2022, mainly due to reduced profits in the manufacturing segment[24]. - The group recorded a net loss of approximately SGD 4.9 million in fiscal year 2023, compared to a net profit of SGD 2.1 million in fiscal year 2022[25]. - As of December 31, 2023, the group's total equity attributable to owners was approximately SGD 34.1 million, a slight decrease from SGD 34.5 million in the previous year[28]. - The group's current assets net value increased to approximately SGD 37.7 million from SGD 23.8 million in fiscal year 2022, with cash and cash equivalents totaling about SGD 39.0 million compared to SGD 23.5 million in the previous year[28]. Online Business Development - The online business generated revenue of SGD 0.228 million, representing 1.42% of total revenue, an increase from SGD 0.037 million in the previous year[16]. - The company plans to accelerate the development and optimization of mobile games to enhance its online business in fiscal year 2024[8]. - The online business segment's mobile gaming revenue increased by approximately 516.2% to about SGD 0.23 million from SGD 0.04 million in fiscal year 2022, driven by the launch of new game experiences that expanded the player base[19]. Manufacturing Sector Challenges - The manufacturing sector in Singapore contracted by 4.3% in 2023, impacting the company's sales orders[7]. - In the fiscal year 2023, the manufacturing segment's revenue decreased by approximately 31.9% to about SGD 15.8 million from SGD 23.3 million in fiscal year 2022, primarily due to a decline in market demand in Singapore's sheet metal manufacturing industry[18]. - The company aims to improve production capacity and efficiency through machinery upgrades and the adoption of robotic technology[8]. - The board will continue to explore new business opportunities to diversify revenue sources amid challenges in the manufacturing sector[8]. Employee and Management Practices - As of December 31, 2023, the group employed 207 full-time employees, a slight decrease from 209 in 2022[40]. - The company has invested in various training programs for employees, focusing on management and soft skills[40]. - The company has established guidelines to assess employee performance and implement development plans[40]. - The board has reviewed and approved director remuneration based on the group's operational performance and market competitiveness[40]. - The company has maintained good relationships with employees, offering competitive salaries and bonuses[140]. - The company has a total of 207 employees as of December 31, 2023, with a gender ratio of approximately 3:1 (male to female)[196]. - The age distribution of employees shows that 10% are aged 30 or below, 42% are between 31-50 years, and 48% are over 50 years[197]. - The company emphasizes the importance of continuous development of employee skills and capabilities to adapt to market and technological changes[200]. Corporate Governance and Compliance - FSM Holdings Limited is committed to improving its corporate governance practices, having adopted all relevant codes from the Stock Exchange's corporate governance guidelines[55]. - The board of directors has emphasized the importance of sustainability, aiming to reduce operational carbon emissions by 30% over the next five years[56]. - The company has established a remuneration committee to review and approve the remuneration packages for all directors and senior management, ensuring alignment with corporate performance[66]. - The audit committee held three meetings during the year to review the audited annual performance for the year ending December 31, 2022, and the unaudited interim performance for the six months ending June 30, 2023[74]. - The company has not reported any significant non-compliance with relevant laws and regulations during the fiscal year 2023[101]. - The company has established anti-fraud and anti-money laundering policies to promote compliance with relevant laws and regulations[84]. - The company has received annual independence confirmations from independent non-executive directors, affirming their compliance with listing rules[60]. - The company has appointed independent non-executive directors with relevant professional qualifications to ensure compliance with financial reporting standards[60]. Risk Management - The risk management and internal control systems are designed to assess and respond to risks, including environmental and social risks, ensuring the protection of shareholder interests[85]. - An external internal audit team has been engaged to review the risk management and internal control systems for the fiscal year 2023[86]. - The company faces risks in its manufacturing business, including reliance on major customers and currency fluctuations[110]. - The online business is exposed to risks such as reliance on distribution channel suppliers and competition from other entertainment forms[110]. Sustainability and Community Engagement - The company has been certified with ISO 14001:2015 for its environmental management system, aiming to enhance energy efficiency and minimize operational impacts[102]. - The company made charitable donations of approximately SGD 6,000 in the fiscal year 2023, a significant decrease from SGD 274,000 in the fiscal year 2022[106]. - The company emphasizes the importance of balancing business growth with sustainable development, integrating sustainability parameters into its business model[166]. - Stakeholder engagement is prioritized, with key issues including customer satisfaction, occupational health and safety, and business ethics being highlighted[167]. - The company maintains communication with stakeholders to address their concerns and interests[164]. Supplier and Customer Relationships - The largest supplier accounted for approximately 11.3% of total procurement in FY2023, down from 13.9% in FY2022[139]. - The top five suppliers represented about 42.7% of total procurement in FY2023, compared to 36.7% in FY2022[139]. - The largest customer contributed approximately 48.9% of total revenue in FY2023, a decrease from 53.0% in FY2022[139]. - The top five customers accounted for about 98.0% of total revenue in FY2023, slightly down from 99.0% in FY2022[139]. - The company has established a supplier monitoring policy to manage supply chain risks and ensure the provision of quality products and services[180]. Operational Efficiency - The company has implemented an ERP system to enhance production efficiency, reduce costs, and maintain high product quality, thereby shortening production cycles[174]. - Monthly evaluations of supplier performance are conducted, with underperforming suppliers required to take corrective actions[181]. - The quality control process includes identifying issues, investigating causes, and implementing corrective measures[178]. - The company achieved a BizSAFE Level 4 certification from the Singapore Workplace Safety and Health Council, demonstrating its commitment to maintaining workplace safety and health standards[190]. - A total of 281.7 hours of safety training were provided to employees in 2023, representing a 563% increase compared to the previous year[194]. - There were no work-related fatalities or injuries reported during the reporting period, and the company maintained a record of zero fatalities and accidents over the past three years[193].

Financial Performance - For the fiscal year ending December 31, 2023, total revenue was 16,071 thousand New Taiwan dollars, a decrease from 23,301 thousand New Taiwan dollars in the previous year, representing a decline of approximately 30.5%[3] - Gross profit for the fiscal year was 5,940 thousand New Taiwan dollars, down from 10,710 thousand New Taiwan dollars, indicating a decrease of about 44.5%[3] - The net loss attributable to the company for the year was 4,876 thousand New Taiwan dollars, compared to a profit of 2,061 thousand New Taiwan dollars in the previous year, marking a significant shift in performance[4] - The basic loss per share for the fiscal year was (0.49) New Taiwan dollars, compared to a profit of 0.21 New Taiwan dollars per share in the previous year[3] - Other income for the fiscal year was 19 thousand New Taiwan dollars, down from 43 thousand New Taiwan dollars, reflecting a decrease of approximately 55.8%[3] - The comprehensive loss for the year was 4,641 thousand New Taiwan dollars, compared to a comprehensive income of 1,842 thousand New Taiwan dollars in the previous year, showing a substantial decline[4] - The total loss before tax for the company was 4,127 thousand New Taiwan Dollars, indicating challenges in the online business segment[20] - The group recorded a net loss of approximately SGD 4.9 million in fiscal year 2023, compared to a net profit of SGD 2.1 million in fiscal year 2022[65] Operating Expenses - The company reported a total operating expenses of 5,510 thousand New Taiwan dollars, slightly up from 5,191 thousand New Taiwan dollars, indicating an increase of about 6.1%[3] - Research and development expenses for mobile games were 2,816 thousand New Taiwan dollars, compared to 2,094 thousand New Taiwan dollars in the previous year, representing an increase of approximately 34.5%[3] - Total expenses for 2023 amounted to 19,215 thousand New Taiwan Dollars, a decrease from 20,096 thousand New Taiwan Dollars in 2022, representing a reduction of approximately 4.4%[34] - Administrative expenses rose to 5,510 thousand New Taiwan Dollars in 2023, compared to 5,191 thousand New Taiwan Dollars in 2022, marking an increase of about 6.1%[34] - The company incurred 550 thousand New Taiwan Dollars in selling and distribution expenses in 2023, slightly up from 531 thousand New Taiwan Dollars in 2022, which is an increase of approximately 3.6%[34] - The impairment provision for inventory was 500 thousand New Taiwan Dollars in 2023, significantly higher than 24 thousand New Taiwan Dollars in 2022, indicating a substantial increase[34] Assets and Liabilities - Total assets increased to NT$55,185 million in 2023 from NT$43,855 million in 2022, representing a growth of approximately 25.8%[6] - Current assets decreased to NT$43,784 million in 2023 from NT$31,190 million in 2022, showing an increase of about 40.3%[6] - Total liabilities rose to NT$21,073 million in 2023 compared to NT$9,333 million in 2022, indicating a significant increase of approximately 125.5%[8] - The company's equity attributable to owners decreased slightly to NT$34,112 million in 2023 from NT$34,522 million in 2022, a decline of about 1.2%[6] - Cash and cash equivalents increased to NT$38,936 million in 2023 from NT$12,577 million in 2022, reflecting a substantial growth of approximately 209.5%[6] - Trade and other receivables decreased to NT$3,043 million in 2023 from NT$4,407 million in 2022, a decline of approximately 30.9%[6] Business Segments - The manufacturing segment reported a revenue of 15,556 thousand New Taiwan Dollars, while the online business segment generated a revenue of 16,071 thousand New Taiwan Dollars, totaling 31,627 thousand New Taiwan Dollars[20] - The online business segment experienced a loss before tax of 1,986 thousand New Taiwan Dollars, while the manufacturing segment reported a profit before tax of 3,702 thousand New Taiwan Dollars[20] - The manufacturing segment's performance is primarily driven by precision engineering and machinery services[18] - The manufacturing business accounted for 98.58% of total revenue in fiscal year 2023, while online business contributed 1.42%[55] - The online business segment, specifically mobile gaming, saw revenue increase by approximately 516.2% to about SGD 0.23 million from SGD 0.04 million in fiscal year 2022, driven by the launch of new game experiences[59] Taxation - The company's income tax expense for 2023 was 749,000 SGD, a decrease from 1,153,000 SGD in 2022, representing a reduction of approximately 35%[36] - The corporate tax rate in Singapore remains at 17% for both 2023 and 2022[37] - The corporate tax rate in Malaysia is 24% for both 2023 and 2022[38] - In China, small and micro enterprises benefit from a reduced tax rate of 20% for taxable income not exceeding 1,000,000 RMB, down from 12.5% in 2022[39] - The company did not incur any Hong Kong profits tax for the year ending December 31, 2023, as it did not generate taxable profits in Hong Kong[40] - The group has no tax obligations in the Cayman Islands and British Virgin Islands for the years ending December 31, 2023, and 2022[41] Corporate Governance and Future Plans - The company has adhered to the corporate governance code and maintained high standards of corporate governance[92] - The board of directors includes two executive directors and three independent non-executive directors, ensuring a diverse governance structure[98] - The company plans to gradually utilize the remaining net proceeds for developing production facilities[89] - The group plans to enhance production capacity and efficiency through machine upgrades and the adoption of robotics technology, while also managing business expenses to reduce production and operational costs[67] - The company is focusing on expanding its online mobile gaming operations as part of its growth strategy[19]

Financial Performance - The company reported a net loss of 15,000 SGD for the six months ended June 30, 2023, compared to a profit of 1,799,000 SGD in the same period of 2022[14]. - Revenue for the six months ended June 30, 2023, was SGD 8,539,000, a decrease of 25.6% compared to SGD 11,500,000 for the same period in 2022[31]. - Gross profit for the same period was SGD 3,826,000, down 25.2% from SGD 5,115,000 year-over-year[31]. - Operating profit significantly decreased to SGD 480,000, a decline of 82.1% from SGD 2,676,000 in the previous year[31]. - The company reported a comprehensive loss of 111,000 SGD for the period, compared to a comprehensive income of 1,733,000 SGD in the prior year[14]. - The company reported a net loss attributable to owners of SGD 15,000, compared to a profit of SGD 1,799,000 in the prior year[31]. - Basic and diluted loss per share was SGD (0.0015), compared to earnings per share of SGD 0.1799 in the same period last year[31]. - The company reported a net profit before tax of 486 thousand SGD for the six months ended June 30, 2023[66]. - The company’s income tax expense for the six months ended June 30, 2023, was 501 thousand SGD, down from 859 thousand SGD in the same period of 2022[77]. - The group recorded a loss attributable to the company's owners of approximately SGD 0.02 million, compared to a profit of approximately SGD 1.80 million for the six months ended June 30, 2022, indicating a significant decline in performance[169]. Assets and Liabilities - Total assets increased to 58,899,000 SGD as of June 30, 2023, up from 43,855,000 SGD as of December 31, 2022, representing a growth of approximately 34%[16]. - Total liabilities increased to 20,257,000 SGD as of June 30, 2023, compared to 9,333,000 SGD at the end of 2022, reflecting a significant rise of approximately 117%[16]. - The equity attributable to owners of the company was 38,642,000 SGD, up from 34,522,000 SGD, showing an increase of about 12%[16]. - The company's total liabilities decreased from 6,019 thousand SGD as of December 31, 2022, to 3,482 thousand SGD as of June 30, 2023[84]. - The group's total liabilities to equity ratio was approximately 37.9% as of June 30, 2023, compared to about 3.0% as of December 31, 2022[147]. - The group's net current assets as of June 30, 2023, were approximately SGD 41.70 million, an increase from approximately SGD 23.78 million as of December 31, 2022[172]. - The group's cash and cash equivalents, short-term bank deposits, and pledged bank deposits totaled approximately SGD 41.14 million as of June 30, 2023, compared to approximately SGD 23.53 million as of December 31, 2022[172]. - The group's borrowings and lease liabilities were approximately SGD 13.70 million and SGD 0.93 million, respectively, as of June 30, 2023, compared to approximately SGD 0.36 million and SGD 0.67 million as of December 31, 2022[172]. Cash Flow and Expenses - Cash and cash equivalents rose to 19,138,000 SGD, compared to 12,577,000 SGD at the beginning of the year, marking an increase of 52%[21]. - The company generated a net cash inflow from operating activities of 1,007,000 SGD, down from 1,574,000 SGD in the previous year, indicating a decline of about 36%[21]. - Employee benefits expenses, including directors' remuneration, were 2,470 thousand SGD for the six months ended June 30, 2023, compared to 2,896 thousand SGD in the same period of 2022, a decrease of about 14.7%[94]. - The income tax expense decreased by approximately SGD 0.36 million or 41.7% to approximately SGD 0.50 million for the six months ended June 30, 2023, primarily due to reduced profits from the manufacturing business in Singapore[168]. Segment Performance - The manufacturing segment recorded total revenue of approximately 8.54 million SGD for the six months ended June 30, 2023, a decrease of about 2.93 million SGD or 25.6% compared to approximately 11.47 million SGD for the same period in 2022, mainly due to a slowdown in the economy leading to reduced sales orders[137]. - The segment performance for the manufacturing business showed a profit of 3,442 thousand SGD, while the online business reported a loss of 2,193 thousand SGD, resulting in a total segment profit of 1,249 thousand SGD[66]. - The online business segment generated approximately 3,000 SGD in revenue for the six months ended June 30, 2023, compared to approximately 30,000 SGD in the same period of 2022[115]. - For the six months ended June 30, 2023, reported segment revenue from the manufacturing business was 8,536 thousand SGD, while online business revenue was 3 thousand SGD, totaling 8,539 thousand SGD[66]. Strategic Focus and Future Plans - The company is focused on expanding its precision engineering and online mobile gaming development sectors, aiming for growth in these areas[23]. - The company plans to continue focusing on mobile game development, with research and development expenses increasing to SGD 1,342,000 from SGD 846,000[31]. - The company plans to continue developing and optimizing its mobile game products in the second half of 2023 to diversify revenue sources[118]. - The group aims to maintain close relationships with existing and potential customers in the manufacturing sector and is focused on upgrading machinery and utilizing robotics to enhance production efficiency and capacity[140]. - The board will continue to focus on developing core manufacturing operations to enhance production capacity and efficiency while exploring other business opportunities to diversify revenue sources[165]. Shareholder and Governance - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[99]. - The group did not recommend an interim dividend for the six months ended June 30, 2023, compared to no dividend for the same period in 2022[143]. - The audit committee reviewed the unaudited interim results for the six months ended June 30, 2023, and found no discrepancies in the accounting principles and practices adopted by the company[185]. - All directors confirmed full compliance with the listing rules and standard code of conduct for securities transactions as of June 30, 2023[186]. - As of June 30, 2023, the company has a major shareholder, Maodong, holding 602,340,000 shares, which represents approximately 60.23% of the issued share capital[183]. Compliance and Accounting - The company has not reported any significant impact from the adoption of new accounting standards effective from January 1, 2023[25]. - The company did not purchase, sell, or redeem any of its listed securities during the six months ended June 30, 2023[184]. - The company plans to continuously review the use of net proceeds based on market conditions, with the remaining proceeds expected to be utilized in the future[188].

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之內容概不負責， 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 部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 FFSSMM HHoollddiinnggss LLiimmiitteedd （於開曼群島註冊成立之有限公司） 1721 （股份代號： ） 截至二零二三年六月三十日止六個月的 中期業績公告 FSM Holdings Limited （「本公司」）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」）截至二零二三年六月三十日止六個月的未經審核簡明綜合 財務業績，連同二零二二年相應期間的比較數字。 簡明綜合損益表 截至六月三十日止六個月 二零二三年 二零二二年 附註 千新元 千新元 （未經審核） （未經審核） 6 8,539 11,500 收益 (4,713) (6,385) 銷售成本 3,826 5,115 毛利 7 9 122 其他收入 8 139 480 其他收益，淨額 (82) (104) 銷售及分銷開支 (2,070) (2,091) ...

Audit and Compliance - The audit committee held three meetings in the fiscal year 2022 to review the audited annual performance and the unaudited interim performance for the six months ending June 30, 2022[5]. - The audit fees for the fiscal year 2022 amounted to approximately SGD 400,000, compared to SGD 354,000 for the fiscal year 2021[7]. - The audit committee is responsible for recommending the appointment and reappointment of external auditors and reviewing the effectiveness of audit procedures[3]. - The audit committee, along with management and external auditors, reviewed the accounting principles and policies adopted by the group for the fiscal year 2022[129]. - The company has established anti-fraud and anti-money laundering policies to promote compliance with relevant laws and regulations[15]. Board Structure and Governance - The board consists of 60% independent non-executive directors and 40% executive directors, with 20% of directors aged 65 and above[12]. - The company’s nomination committee has reviewed the board structure and the independence of non-executive directors[2]. - The company has a comprehensive governance framework in place, adhering to the corporate governance code as per the listing rules[58]. - The board includes two executive directors and three independent non-executive directors, ensuring compliance with relevant governance standards[50]. - The company established a remuneration committee in June 2018, which includes one executive director and three independent non-executive directors, with the chairman being Mr. Huang[58]. Risk Management - The company has established a robust risk management and internal control system to protect shareholders' interests and ensure compliance with relevant regulations[16]. - An external internal audit team reviewed the risk management and internal control systems for the fiscal year 2022, reporting to the audit committee[17]. - The board believes that the risk management and internal control systems are effective and sufficient after thorough evaluation[17]. - The company has a continuous risk assessment method to identify and evaluate inherent risks that may affect its strategic goals[16]. - The group faced significant risks and uncertainties during the fiscal year 2022, with a detailed analysis provided in the annual report sections including the Chairman's report and Management Discussion and Analysis[36]. Employee and Workplace Safety - The company has a total of 209 employees as of December 31, 2022, with a gender ratio of 1:4 (41 females and 168 males)[13]. - The company provided a total of 42.5 hours of production safety training to employees in 2022[178]. - There were no work-related injuries or fatalities reported during the reporting period, maintaining a record of zero incidents over the past three years[178]. - The company achieved BizSAFE Level 4 certification from the Workplace Safety and Health Council in Singapore, demonstrating its commitment to workplace safety[167]. - The company has not detected any violations of health and safety laws during the reporting period[167]. Environmental and Social Responsibility - The group has established an environmental management system certified by ISO 14001:2015 to enhance energy efficiency and minimize operational impacts[38]. - The group complied with applicable laws and regulations in its operational locations during the fiscal year 2022, with ongoing reviews of environmental measures to enhance sustainability[39]. - The company emphasizes the importance of balancing business growth with sustainable development, integrating sustainability parameters into its business model[139]. - The environmental, social, and governance (ESG) committee was established in 2021 to oversee the management of ESG-related risks and opportunities[138]. - The company has achieved ISO 14001:2015 environmental management system certification[191]. Financial Performance and Shareholder Communication - The company’s financial performance and asset and liability summary for the past five fiscal years are detailed in the annual report[79]. - The company is committed to timely communication with shareholders and has implemented a shareholder communication policy that was deemed effective during the fiscal year 2022[25]. - The company has not engaged in any related party transactions that required disclosure under the listing rules during the fiscal year 2022[99]. - The company reported no tax exemptions or reliefs available to shareholders due to their holdings in the company's securities[101]. - The company has a structured approach to handling customer complaints, ensuring rapid resolution and documentation of issues[152]. Remuneration and Employee Development - The remuneration committee reviewed the group's remuneration policy and structure during the fiscal year 2022 and approved the remuneration packages for all directors and senior management[58]. - The remuneration committee's main responsibilities include providing recommendations on remuneration policies for all directors and senior management, ensuring that a significant portion of executive directors' remuneration is linked to corporate and individual performance[58]. - A total of 209 employees received vocational training during the reporting period, accumulating 8,381 hours of training[184]. - The employee retention strategy includes reviewing compensation and benefits to retain talent[184]. - The company maintains good relationships with employees, offering competitive salaries and bonuses, with a performance review mechanism in place for salary adjustments[109]. Operational Risks - The company faces several operational risks in its manufacturing business, including reliance on major customers and currency fluctuations[73]. - The online business is exposed to risks that may adversely affect its operating and financial performance, such as reliance on distribution channel suppliers and competition from other entertainment forms[73]. - The largest customer contributed approximately 53.0% of total revenue, with the top five customers accounting for about 99.0% in fiscal year 2022[108]. - In the fiscal year 2022, the largest supplier accounted for approximately 13.9% of total procurement, while the top five suppliers represented about 36.7%[108]. - The company has implemented an ERP system to enhance production efficiency, reduce costs, and maintain high product quality[145].

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之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就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之任何損失承擔任何責任。 FFSSMM HHoollddiinnggss LLiimmiitteedd （於開曼群島註冊成立之有限公司） 1721 （股份代號： ） 截至二零二二年十二月三十一日止年度的 年度業績公告 FSM Holdings Limited （「本公司」）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」）截至二零二二年十二月三十一日止財政年度（「二零二二財 年」）的經審核綜合業績，連同二零二一年相應期間（「二零二一財年」）的比較數字。 綜合損益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千新元 千新元 4 23,301 16,076 收益 7 (12,591) (11,098) 銷售成本 10,710 4,978 毛利 5 43 54 其他收入 6 (143) 357 其他（虧損）／收益，淨額 7 (220) (547) 銷售及分銷開支 7 (5,191) ( ...

Financial Performance - Revenue for the six months ended June 30, 2022, was SGD 11,500,000, an increase of 83.5% compared to SGD 6,286,000 for the same period in 2021[9] - Gross profit for the same period was SGD 5,115,000, significantly up from SGD 1,001,000 in 2021, reflecting a gross margin improvement[9] - Operating profit for the six months was SGD 2,676,000, compared to an operating loss of SGD 1,902,000 in the previous year[9] - Net profit attributable to owners for the period was SGD 1,799,000, a turnaround from a loss of SGD 2,318,000 in 2021[9] - Basic and diluted earnings per share for the period was SGD 0.18, compared to a loss per share of SGD 0.23 in the previous year[9] Assets and Liabilities - Total assets as of June 30, 2022, were SGD 42,480,000, an increase from SGD 40,196,000 as of December 31, 2021[13] - Total equity attributable to owners increased to SGD 34,413,000 from SGD 32,680,000 at the end of 2021[13] - The total liabilities increased to 8,067 thousand SGD as of June 30, 2022, compared to 7,516 thousand SGD as of December 31, 2021, marking an increase of about 7.3%[45] - Non-current assets totaled 12,561 thousand SGD as of June 30, 2022, down from 13,702 thousand SGD as of December 31, 2021, representing a decrease of approximately 8.3%[42] Cash Flow and Liquidity - The company reported a cash and cash equivalents balance of SGD 8,306,000 as of June 30, 2022, compared to SGD 13,932,000 at the end of 2021[13] - For the six months ended June 30, 2022, cash flow from operating activities was SGD 1,913,000, compared to a cash outflow of SGD 1,178,000 in the same period of 2021, representing a significant improvement[19] - The net cash generated from operating activities for the same period was SGD 1,574,000, a turnaround from a net cash outflow of SGD 850,000 in 2021[19] - Total cash and cash equivalents decreased by SGD 5,689,000, down from SGD 12,534,000 in the previous year, indicating a liquidity challenge[19] - The total cash and cash equivalents as of June 30, 2022, stood at SGD 8,306,000, down from SGD 12,534,000 a year earlier, reflecting a decrease in liquidity[19] Segment Performance - Revenue from external customers for the manufacturing segment was SGD 11,468,000, while the online segment generated SGD 32,000, totaling SGD 11,500,000[34] - The reported segment performance showed a loss of SGD 1,608,000 for the online business, leading to a total segment loss of SGD 1,928,000 before tax[35] - Manufacturing business revenue increased to 38,083 thousand SGD for the six months ended June 30, 2022, compared to 33,191 thousand SGD for the same period in 2021, representing a growth of approximately 14.3%[42] - The manufacturing segment generated total revenue of approximately SGD 11.47 million for the six months ended June 30, 2022, an increase of about SGD 5.28 million or 85.42% from SGD 6.19 million in the same period of 2021[79] - The online business segment, specifically mobile gaming, reported revenue of approximately SGD 0.03 million for the six months ended June 30, 2022, down from SGD 0.10 million in the previous year[80] Research and Development - The company plans to continue investing in mobile game development, with research and development expenses amounting to SGD 846,000 for the period[9] - The company continues to enhance research and development efforts to optimize existing and new mobile games since launching its first mobile game in December 2020[80] - Research and development expenses related to mobile game development increased by approximately 0.12 million SGD to about 0.85 million SGD for the six months ended June 30, 2022[89] Corporate Governance and Compliance - The company has complied with the corporate governance code provisions as of June 30, 2022[121] - All directors confirmed full compliance with the standard code of conduct regarding securities transactions for the six months ending June 30, 2022[125] - The audit committee reviewed the unaudited condensed consolidated interim results for the six months ending June 30, 2022, and found no discrepancies with the management's accounting principles and practices[124] Employee and Operational Metrics - As of June 30, 2022, the company employed 171 full-time employees, a decrease from 184 employees as of December 31, 2021[111] - The total employee costs for the six months ended June 30, 2022, were approximately SGD 3.70 million, compared to approximately SGD 2.94 million for the same period in 2021[111] Foreign Exchange and Risks - The company experienced a foreign exchange loss of SGD 66,000 during the period, impacting overall comprehensive income[11] - The company faces foreign exchange risks primarily related to USD, RMB, and HKD, but exchange rate fluctuations did not have a significant impact during the period[109] Dividend and Shareholder Information - The company did not recommend an interim dividend for the six months ended June 30, 2022, consistent with the previous year[65] - The board has decided not to declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[110] - As of June 30, 2022, Mr. Li Thet holds a controlled interest in 602,340,000 shares, representing approximately 60.23% of the issued share capital[114] - As of June 30, 2022, the major shareholder, Maodong, holds 602,340,000 shares, representing approximately 60.23% of the issued share capital[117] Investment and Capital Expenditures - The company incurred a net cash outflow of SGD 6,781,000 from investing activities, compared to a cash inflow of SGD 3,238,000 in the previous year, indicating increased investment or capital expenditures[19] - Capital expenditure commitments for the purchase of property, plant, and equipment amounted to SGD 498,000 as of June 30, 2022, compared to SGD 120,000 as of December 31, 2021[74] Other Income and Expenses - Other income, including government grants and waste sales, totaled 122 thousand SGD for the six months ended June 30, 2022, compared to 77 thousand SGD in the same period of 2021, reflecting an increase of approximately 58.4%[52] - The company reported a total of SGD 105,000 in corporate income against corporate expenses of SGD 543,000, leading to a net corporate loss[34] - Administrative expenses decreased by approximately 0.22 million SGD or 9.44% to about 2.09 million SGD for the six months ended June 30, 2022[88]

Financial Performance - The total revenue for the fiscal year 2021 was approximately SGD 16.1 million, an increase of about 55.4% compared to SGD 10.3 million in the fiscal year 2020[9]. - Gross profit rose approximately 246.2% to about SGD 5.0 million in fiscal year 2021, up from SGD 1.4 million in fiscal year 2020[15]. - The net loss attributable to shareholders for fiscal year 2021 was approximately SGD 3.1 million, compared to a net loss of SGD 2.6 million in fiscal year 2020[9]. - Revenue from the manufacturing segment rose by 53.3% to approximately SGD 15.9 million, driven by sustained growth in Singapore's manufacturing sector[20]. - The online business segment generated revenue of approximately SGD 0.2 million in fiscal year 2021, a significant increase from SGD 1,000 in fiscal year 2020, attributed to the first full year of revenue from the mobile game launched in December 2020[21]. - Administrative expenses increased by approximately SGD 2.1 million or 62.0% to SGD 5.6 million in fiscal year 2021, primarily due to professional fees related to the resumption of trading and new employee costs in the online mobile gaming business[24]. - Research and development expenses for mobile games were approximately SGD 1.7 million in fiscal year 2021, up from SGD 0.6 million in fiscal year 2020, reflecting the first full operational year of the mobile gaming business[25]. - The group recorded a net loss of approximately SGD 3.1 million in fiscal year 2021, compared to a net loss of SGD 2.6 million in fiscal year 2020[26]. - As of December 31, 2021, the group's total equity attributable to owners was approximately SGD 32.7 million, down from SGD 35.7 million in fiscal year 2020[28]. Business Strategy and Development - The manufacturing business experienced strong growth driven by continued global demand for semiconductors, with the manufacturing sector in Singapore expanding by 13.2% in 2021[16]. - The company plans to continue developing and optimizing its mobile games to enhance its online business in 2022[10]. - The company aims to diversify its revenue sources to mitigate challenges faced in the manufacturing sector[10]. - The company will focus on upgrading machinery and utilizing robotics to improve production capacity and efficiency[10]. - The company will continue to explore other business opportunities to enhance performance amidst challenges in the manufacturing sector[10]. Corporate Governance - The board of directors is responsible for the overall management and strategic direction of the company, ensuring compliance with corporate governance standards[64]. - The company has adopted all provisions of the Corporate Governance Code as per the listing rules, effective from January 1, 2022[60]. - The company has a strong focus on maintaining high levels of corporate governance to protect shareholder interests and enhance corporate value[60]. - The board includes two executive directors and three independent non-executive directors, ensuring a diverse governance structure[64]. - The company has a dedicated audit committee, remuneration committee, and nomination committee to oversee various aspects of governance and management[60]. - The company emphasizes the importance of internal controls and risk management systems in its governance framework[64]. - The board structure and composition are regularly assessed to maintain diversity and effectiveness[77]. - The company has adopted a standard code of conduct for securities trading, ensuring all directors complied fully during the year[72]. Risk Management - The group faced significant risks in its manufacturing business, including reliance on major customers and currency fluctuations[111]. - The online business is exposed to competition from other entertainment forms and potential payment delays from settlement agents[111]. - The board is responsible for maintaining an effective risk management and internal control system, with a continuous risk assessment method adopted to identify and evaluate inherent risks[87]. - The internal audit function is performed by an outsourced team, which reviews the effectiveness of the risk management and internal control systems at least once a year[89]. Environmental, Social, and Governance (ESG) - The group has established an environmental management system certified to ISO 14001:2015 to enhance energy efficiency[103]. - The company emphasizes the need to balance business growth with sustainable development, integrating sustainability parameters into its business model[172]. - The board established an Environmental, Social, and Governance (ESG) committee to oversee the integration of ESG matters into the company's strategy and ensure compliance with regulatory requirements[171]. - The report provides an overview of the group's environmental and social management policies and performance for the year[167]. - The company has implemented strict measures to ensure compliance with environmental and social standards among its suppliers[188]. Employee Relations and Community Engagement - The company has maintained good relationships with employees, offering competitive salaries and bonuses[145]. - The company is committed to community contributions and plans to continue fulfilling corporate responsibilities to support disadvantaged groups in society[193]. - The company has achieved BizSAFE Level 4 certification from the Workplace Safety and Health Council in Singapore, indicating a commitment to workplace safety and health[196]. - During the reporting period, the company recorded zero work-related fatalities, zero work injuries, and zero lost workdays due to injuries, aiming to maintain a record of zero incidents[197]. Shareholder Communication and Compliance - The company ensures effective and timely communication with shareholders through its website, where all corporate communications are published[94]. - The company has not disclosed any significant non-compliance with relevant laws and regulations during the fiscal year 2021[102]. - The company has not identified any cases of corruption or violations of anti-bribery, anti-extortion, or anti-money laundering laws during the year[192].

FSM Holdings Limited (於開曼群島註冊成立之有限公司) 股份代號: 1721 年 度 報 告 ＼ 2020 (2) 98 GE og Do 7 -qi- 《 目錄 目錄 | --- | --- | |-------|----------------------| | | | | 2 | 公司資料 | | 4 | 主席報告 | | 6 | 管理層討論及分析 | | 12 | 董事及高級管理層履歷 | | 14 | 企業管治報告 | | 22 | 董事會報告 | | 33 | 環境、社會及管治報告 | | 53 | 獨立核數師報告 | | 58 | 綜合損益表 | | 59 | 綜合全面收益表 | | 60 | 綜合財務狀況表 | | 62 | 綜合權益變動表 | | 63 | 綜合現金流量表 | | 64 | 綜合財務報表附註 | | 113 | 財務資料概要 | 1 年度報告 2020 FSM Holdings Limited 公司資料 公司資料 董事會 執行董事 Li Thet先生（主席）（於二零二零年四月八日獲委任） 卓仲福先生（行政總裁） （於二零二零年四月八日辭任主席） 黃月蓮女士 ...