Financial Performance - The Group's total revenue decreased by approximately S$160,000 or 0.2% from approximately S$70.1 million in FY2023 to approximately S$70.0 million in FY2024[20]. - The Group's total gross profit decreased by approximately S$25,000 or 0.1% from approximately S$19.77 million in FY2023 to approximately S$19.74 million in FY2024, maintaining a gross profit margin of 28.2%[20]. - The Group's profit for the year increased by approximately S$0.9 million or 15.9% from approximately S$5.5 million in FY2023 to approximately S$6.3 million in FY2024[20]. - The Group's gross profit for the year ended 31 December 2024 was S$19,740,690, slightly down from S$19,766,148 in 2023[38]. - Profit for the year ended 31 December 2024 was S$6,324,581, compared to S$5,455,152 in 2023, representing an increase of approximately 15.9%[38]. - The total equity of the Group increased to S$82,141,901 as at 31 December 2024, up from S$73,205,907 in 2023, reflecting a growth of approximately 12.5%[39]. - The Group's profit margin for the year was 9.0% in 2024, up from 7.8% in 2023, showing improved profitability[43]. - Other income increased by approximately S$63,000 or 6.9% from approximately S$0.9 million for the year ended 31 December 2023 to approximately S$1.0 million for the year ended 31 December 2024[85]. - Selling and distribution expenses decreased by approximately S$0.7 million or 15.1% from approximately S$4.7 million for the year ended 31 December 2023 to approximately S$4.0 million for the year ended 31 December 2024[92]. - Administrative expenses increased by approximately S$1.0 million or 12.0% from approximately S$8.6 million for the year ended 31 December 2023 to approximately S$9.6 million for the year ended 31 December 2024[98]. - The Group's cost of sales decreased by approximately S$134,000 or 0.3% from approximately S$50.4 million for the year ended 31 December 2023 to approximately S$50.2 million for the year ended 31 December 2024[83]. - Other gains increased to approximately S$0.8 million for the year ended 31 December 2024, compared to other losses of approximately S$0.4 million for the year ended 31 December 2023[86]. - The annual profit increased from approximately S$5.5 million for the year ended December 31, 2023, to approximately S$6.3 million for the year ended December 31, 2024, representing a growth of about 15.9%[101]. Market and Economic Outlook - The Singapore economy expanded by 4.4% in 2024, compared to 1.8% in 2023[19]. - The forecasted GDP growth for Singapore in 2025 is between 1.0% and 3.0%[26]. - The economic outlook for Singapore in 2025 is projected to grow between 1.0% and 3.0%, indicating potential challenges ahead[68]. - The global snack food market is projected to grow at approximately 2.7% annually to 2027, driven by changes in dietary habits and demand for healthy snacks[76]. Product and Sales Performance - The Group's core products include roasted nuts, baked nuts, potato chips, and cassava chips, with distribution in over 10 countries[46]. - Sales of nuts accounted for approximately 67.7% of total revenue in 2024, up from 65.6% in 2023, while chip sales decreased from 31.4% in 2023 to 28.7% in 2024[54]. - The Group's revenue from chips was S$20.06 million in 2024, with a gross profit of S$6.30 million and a margin of 31.4%, down from S$7.18 million in 2023[61]. - The Group's revenue from other products increased from S$2.12 million in 2023 to S$2.52 million in 2024, contributing 3.6% to total revenue[53]. - The Singapore market contributed approximately 61.0% of total revenue in 2024, while Malaysia accounted for 30.3%, indicating stable sales composition across these regions[58]. Dividends and Shareholder Information - The Board has recommended a final dividend of 0.23 Hong Kong cents per ordinary share for FY2024, totaling approximately HK$2.3 million (equivalent to approximately S$0.4 million)[29]. - The 2024 Final Dividend is subject to shareholder approval at the annual general meeting scheduled for 30 May 2025[189]. - The 2024 Final Dividend will be payable on or around 30 June 2025 to shareholders on the register as of 9 June 2025[189]. - There are no arrangements for any shareholder to waive or agree to waive any dividend[194]. - The ability to pay dividends depends on the Group's current and future operations, financial position, and other relevant factors[200]. Management and Corporate Governance - The Group is actively monitoring potential investment opportunities in China to drive long-term growth[28]. - The Group's commitment to quality assurance has led to various certifications in quality management and food safety[47]. - The Group's liquidity risk management includes monitoring trade receivables and ensuring healthy bank balances to meet financial obligations[102]. - The Group employed 350 and 358 employees as of December 31, 2024, and December 31, 2023, respectively, with staff costs of approximately S$13.3 million and S$12.4 million for the respective years[131]. - The Group's executive directors have over 30 years of experience in the snacks industry, focusing on operations, sales, and marketing[137]. Financial Position and Ratios - The current ratio improved to 7.5 as at 31 December 2024, compared to 6.6 in 2023, indicating better short-term financial health[43]. - The Group's final dividend for the year ended December 31, 2024, is recommended at 0.23 Hong Kong cents per ordinary share, totaling approximately HK$2.3 million (equivalent to approximately S$0.4 million)[123]. - The Group's net proceeds from the IPO amounted to approximately HK$66.8 million (equivalent to approximately S$11.7 million), with actual utilization as of December 31, 2024, being approximately HK$61.1 million[119]. - The Group has capital commitments of approximately S$25,000 as of December 31, 2024, down from approximately S$0.5 million in 2023[111]. - There were no material acquisitions or disposals of subsidiaries and associated companies for the year ended December 31, 2024[113].

Financial Performance - Total revenue for the year ended December 31, 2024, was SGD 69,958,249, a slight decrease of 0.2% compared to SGD 70,117,966 in 2023[2] - Profit before tax increased by 14.7% to SGD 7,914,040 from SGD 6,901,898 in the previous year[2] - Net profit for the year rose by 15.9% to SGD 6,324,581, up from SGD 5,455,152 in 2023[2] - The company reported a total comprehensive income of SGD 9,334,262 for the year, significantly higher than SGD 4,805,622 in 2023[4] - The company's annual profit attributable to shareholders for the year ended December 31, 2024, was SGD 6,324,581, up from SGD 5,455,152 in 2023, indicating a growth of approximately 15.9%[36] - Basic earnings per share for the year ended December 31, 2024, were SGD 0.63, compared to SGD 0.55 in 2023, marking an increase of about 14.5%[36] Revenue Breakdown - Revenue from the nuts segment was SGD 47,382,053 in 2024, up from SGD 45,972,369 in 2023, indicating an increase of about 3.06%[23] - Revenue from the chips segment decreased to SGD 20,058,560 in 2024 from SGD 22,027,219 in 2023, reflecting a decline of approximately 8.93%[23] - The group's revenue from Singapore was SGD 42,677,732 in 2024, slightly down from SGD 42,721,738 in 2023, a decrease of about 0.1%[25] - Revenue from Malaysia increased to SGD 21,237,718 in 2024 from SGD 20,491,958 in 2023, representing a growth of approximately 3.63%[25] - For the fiscal year ending December 31, 2024, the sales revenue from nuts and chips accounted for approximately 67.7% and 28.7% of total revenue, respectively, with nuts' contribution increasing from 65.6% in the previous year[45] Assets and Liabilities - Cash and cash equivalents significantly increased by 89.5% to SGD 36,927,862 from SGD 19,490,038 in the prior year[2] - Total assets increased to SGD 84,953,854, up from SGD 75,626,552, reflecting a strong growth in net asset value by 12.2%[2] - Trade receivables as of December 31, 2024, amounted to SGD 12,177,902, an increase from SGD 11,557,873 in 2023, reflecting a growth of approximately 5.4%[38] - Trade payables as of December 31, 2024, were SGD 4,290,490, a decrease from SGD 4,448,421 in 2023, indicating a reduction of about 3.5%[40] Profitability Ratios - The gross profit margin remained stable at 28.2%, while the profit before tax margin improved to 11.3% from 9.8%[2] - The return on equity (ROE) increased to 7.7% from 7.5% in the previous year, indicating improved profitability relative to shareholders' equity[2] Expenses - The group incurred financing costs of SGD 68,064 in 2024, down from SGD 96,580 in 2023, indicating a reduction of about 29.5%[28] - Tax expenses for the year totaled SGD 1,589,459, compared to SGD 1,446,746 in 2023, reflecting an increase of approximately 9.85%[29] - The company’s total employee costs for the year ended December 31, 2024, were SGD 13,279,141, compared to SGD 12,368,618 in 2023, representing an increase of approximately 7.4%[33] - Sales and distribution expenses decreased by approximately 15.1% to about 4.0 million SGD for the fiscal year ending December 31, 2024, mainly due to reduced marketing and advertising expenses[59] - Administrative expenses increased by approximately 12.0% to about 9.6 million SGD for the fiscal year ending December 31, 2024, primarily due to increased maintenance and employee costs[60] Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with it for the year ending December 31, 2024[81] - The board consists of seven directors, including four executive directors and three independent non-executive directors[90] - The board proposed a final dividend of HKD 0.23 per ordinary share, totaling approximately HKD 2.3 million (equivalent to about SGD 0.4 million) for the year ending December 31, 2024[74] - The audit committee, consisting of three independent non-executive directors, reviewed the audited consolidated financial statements for the year ending December 31, 2024[88] - Deloitte & Touche LLP confirmed that the financial figures in the preliminary announcement are consistent with the audited financial statements for the year ending December 31, 2024[89] Future Outlook - The company plans to continue expanding its product offerings and market presence, focusing on high-quality and safe food products to meet customer expectations[42] - The company anticipates a continued annual growth of approximately 2.7% in the global snack food market, including nuts and chips, until 2027[53] - The economic growth forecast for Singapore in 2025 is projected to be between 1.0% and 3.0%[51]

Financial Performance - Revenue for the six months ended June 30, 2024, was S$32,887,425, a decrease of 2.2% compared to S$33,619,903 in 2023[7]. - Gross profit for the same period was S$8,963,855, down 4.0% from S$9,341,000 in 2023[7]. - Profit for the period increased by 18.9% to S$4,025,254, compared to S$3,384,403 in 2023[7]. - The Group's revenue decreased by approximately S$0.7 million or 2.2% from approximately S$33.6 million for the six months ended 30 June 2023 to approximately S$32.9 million for the six months ended 30 June 2024[12]. - The Group's profit for the period increased by approximately S$0.6 million or 18.9% from approximately S$3.4 million for the six months ended June 30, 2023, to approximately S$4.0 million for the six months ended June 30, 2024[34]. - The total comprehensive income for the period was S$4,295,647, compared to S$2,610,301 in the previous year, indicating a year-over-year increase of about 64%[56]. - Basic earnings per share improved to 0.40 Singapore cents, up from 0.34 Singapore cents, indicating a 17.6% increase[48]. Revenue Breakdown - Revenue from nuts accounted for approximately 66.6% of total revenue, while chips accounted for 29.5% for the six months ended 30 June 2024, with chips revenue decreasing from 32.0% in the same period of 2023[13][16]. - Revenue from Singapore decreased slightly from S$20.7 million in the six months ended 30 June 2023 to S$20.3 million in the same period of 2024[18]. - Revenue from Malaysia decreased from S$9.98 million for the six months ended 30 June 2023 to S$9.85 million for the same period in 2024[18]. - The nuts segment generated revenue of S$21,916,371, up 0.8% from S$21,735,085 in 2023, while the chips segment saw a decline to S$9,691,889, down 10.0% from S$10,771,824[67]. Profitability Metrics - Gross profit margin slightly decreased to 27.3% from 27.8% in 2023[11]. - Profit margin for the period improved to 12.2% from 10.1% in the previous year[11]. - The Group's gross profit margin decreased from approximately 27.8% for the six months ended June 30, 2023, to approximately 27.3% for the six months ended June 30, 2024[35]. - The gross profit margin for chips decreased from approximately 34.6% for the six months ended June 30, 2023, to approximately 30.7% for the six months ended June 30, 2024, mainly due to an increase in average cost of fresh potatoes[22]. - The gross profit margin for nuts increased from approximately 24.5% for the six months ended June 30, 2023, to approximately 25.8% for the six months ended June 30, 2024, mainly due to lower average cost of certain raw nuts[22]. Assets and Liabilities - Non-current assets as of June 30, 2024, were S$29,268,807, reflecting a 2.0% increase from S$28,690,346 as of December 31, 2023[9]. - Current liabilities decreased significantly by 29.4% to S$5,889,748 from S$8,340,775 in the previous period[9]. - Total equity increased by 5.3% to S$77,103,286 from S$73,205,907 as of December 31, 2023[9]. - The Group's total assets as of June 30, 2024, were S$79,550,215, an increase from S$75,626,552 as of December 31, 2023[51]. - Cash and cash equivalents in the consolidated statement of cash flows amounted to S$11,283,075 as of June 30, 2024, compared to S$15,408,315 as of December 31, 2023, reflecting a decrease of approximately 27%[95]. Expenses and Costs - Selling and distribution expenses decreased by approximately S$0.2 million or 12.1% from approximately S$2.1 million for the six months ended 30 June 2023 to approximately S$1.8 million for the six months ended 30 June 2024[36]. - Administrative expenses increased by approximately S$0.3 million or approximately 10.9% from approximately S$2.9 million for the six months ended 30 June 2023 to approximately S$3.2 million for the six months ended 30 June 2024[36]. - Income tax expense decreased by approximately S$0.3 million or 24.3% from approximately S$1.2 million for the six months ended 30 June 2023 to approximately S$0.9 million for the six months ended 30 June 2024[36]. Market and Economic Outlook - Singapore's GDP growth averaged 3.0% year-on-year in the first half of 2024, with a growth of 2.9% in Q2 2024, following a 3.0% growth in Q1 2024[24][28]. - The Ministry of Trade and Industry, Singapore, forecasts GDP growth for 2024 to range between 2.0% and 3.0%[25][29]. - The global snack food market, including nuts and chips, is expected to grow at approximately 2.7% annually to 2027, driven by changes in dietary habits and demand for healthy and functional snacks[34]. Corporate Governance and Compliance - The company maintained compliance with the Corporate Governance Code for the six months ended June 30, 2024[106]. - The Audit Committee reviewed the unaudited interim consolidated financial statements for the six months ended June 30, 2024, and confirmed compliance with applicable accounting standards and Listing Rules[119]. - The directors confirmed compliance with the Model Code for Securities Transactions during the six months ended June 30, 2024[107].

Financial Performance - Revenue for the six months ended June 30, 2024, was SGD 32,887,425, a decrease of 2.2% compared to SGD 33,619,903 in 2023[1] - Profit before tax increased by 7.5% to SGD 4,950,379 from SGD 4,606,551 in the previous year[2] - Net profit for the period was SGD 4,025,254, representing an 18.9% increase from SGD 3,384,403 in 2023[2] - Total revenue for the six months ended June 30, 2024, was approximately SGD 32.9 million, a decrease of about SGD 0.7 million or 2.2% from SGD 33.6 million for the same period in 2023[21] - Profit for the period increased by approximately SGD 0.6 million or 18.9% to about SGD 4.0 million for the six months ending June 30, 2024, driven by increased other income and reduced selling and distribution expenses[39] Profitability Metrics - The gross profit margin for the six months ended June 30, 2024, was 27.3%, slightly down from 27.8% in 2023[1] - The net profit margin improved to 12.2% from 10.1% in the previous year[1] - Basic earnings per share rose to SGD 0.40 from SGD 0.34 in the previous year[2] - The basic earnings per share attributable to the company's owners increased to SGD 0.40 for the six months ended June 30, 2024, compared to SGD 0.34 for the same period in 2023, representing an increase of approximately 17.6%[18] Revenue Breakdown - Nut segment revenue increased to SGD 21,916,371 in 2024 from SGD 21,735,085 in 2023, reflecting a growth of 0.8%[10] - Chip segment revenue decreased to SGD 9,691,889 in 2024 from SGD 10,771,824 in 2023, a decline of 10.0%[10] - Other revenue increased to SGD 1,279,165 in 2024 from SGD 1,112,994 in 2023, representing a growth of 15.0%[10] - Sales of nuts accounted for 66.6% of total revenue in the six months ended June 30, 2024, while chips sales decreased from 32.0% to 29.5% during the same period, primarily due to declining demand in Singapore and Malaysia[23] Cash and Assets - Cash and cash equivalents increased significantly by 87.7% to SGD 36,584,798 from SGD 19,490,038 as of December 31, 2023[3] - Total assets less current liabilities increased to SGD 79,550,215 from SGD 75,626,552 as of December 31, 2023[3] - Trade receivables decreased to SGD 8,895,041 as of June 30, 2024, down from SGD 11,557,873 as of December 31, 2023, indicating a reduction of about 23.1%[19] - Trade payables decreased to SGD 2,554,835 as of June 30, 2024, down from SGD 4,448,421 as of December 31, 2023, reflecting a reduction of approximately 42.6%[20] Expenses and Costs - Total employee costs rose to SGD 4,698,627 in 2024 from SGD 4,533,927 in 2023, an increase of 3.6%[16] - Selling and distribution expenses decreased by approximately SGD 0.2 million or 12.1% to about SGD 1.8 million for the six months ending June 30, 2024, due to reduced marketing expenditures[35] - Administrative expenses increased by approximately SGD 0.3 million or 10.9% to about SGD 3.2 million for the six months ending June 30, 2024, primarily due to rising employee costs and maintenance expenses[36] Market Outlook - The group expects the global snack food market, including nuts and chips, to continue growing at an annual rate of approximately 2.7% until 2027, driven by changing dietary habits and demand for functional health snacks[28] - The group anticipates a gradual recovery in the manufacturing sector in Singapore in the second half of 2024, particularly in the electronics industry supported by strong demand for smartphones and AI-related chips[28] - Singapore's GDP growth forecast for 2024 is projected to be between 2.0% and 3.0%[28] Corporate Governance - The company has maintained compliance with corporate governance codes and has confirmed adherence to these codes for the six months ending June 30, 2024[56] - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited interim consolidated financial statements for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards[64] - SWL Limited holds 750,000,000 shares, accounting for 75% of the company's issued share capital, with significant ownership by individual directors[61] - All directors have confirmed compliance with the standard code of conduct for securities trading during the six months ending June 30, 2024[57] Shareholder Information - The company declared a dividend of SGD 398,268 for the year-end dividend of 2023, compared to no dividend in 2022[10] - The company did not declare any interim dividends for the six months ending June 30, 2024, despite recording profits[51] - The company has adopted a share option scheme since December 20, 2018, allowing for the issuance of up to 100,000,000 shares, representing 10% of the total issued shares[53] Board Composition - The board of directors consists of seven members, including four executive directors and three independent non-executive directors[66] - The executive directors are Lin Xiaoyan, Lin Fangyu, Lin Fangzhou, and Lin Shengcai[66] - The independent non-executive directors are Chen Jiayu, Li Enhui, and Zhou Jiyao[66] - The company is led by Chairperson and Executive Director Lin Xiaoyan[66]

Financial Performance - The Group's total revenue decreased by approximately S$4.7 million or 6.3% to approximately S$70.1 million for FY2023, down from approximately S$74.8 million in FY2022[19]. - Gross profits increased by S$1.8 million or 10.0% to S$19.8 million for FY2023, despite the decrease in revenue[18]. - The gross profit margin improved from approximately 24.0% in FY2022 to 28.2% in FY2023[19]. - The Group's profit for the year decreased by approximately S$0.4 million or 6.2% to approximately S$5.5 million for FY2023, down from approximately S$5.8 million in FY2022[19]. - The Group's revenue decreased by approximately S$4.7 million or 6.3% from approximately S$74.8 million for the year ended 31 December 2022 to approximately S$70.1 million for the year ended 31 December 2023[48]. - Profit for the year ended 31 December 2023 was approximately S$5.5 million, compared to S$5.8 million for the previous year[38]. - The Group's cost of sales decreased by approximately S$6.5 million or 11.4% to approximately S$50.3 million for the year ended 31 December 2023[87]. - Other income decreased by approximately S$1.2 million or 57.5% to approximately S$0.9 million for the year ended 31 December 2023[89]. - Selling and distribution expenses increased by approximately S$0.7 million or 18.5% to approximately S$4.7 million for the year ended 31 December 2023[98]. - Administrative expenses increased by approximately S$0.3 million or 3.6% to approximately S$8.6 million for the year ended 31 December 2023[104]. Economic Outlook - The Singapore economy expanded by 1.1% in 2023, moderating from 3.8% growth in 2022[18]. - GDP growth for Singapore in 2024 is forecasted to be between 1.0% and 3.0%[24]. - The Singapore economy grew by 2.2% year-on-year in Q4 2023, up from 1.0% in Q3 2023, while the overall growth for 2023 was 1.1%, down from 3.8% in 2022[68][69]. - The Ministry of Trade and Industry, Singapore, forecasts GDP growth for 2024 to be between 1.0% and 3.0%[70]. - The global snack food market is expected to grow at approximately 2.7% annually until 2027[80]. Product and Market Focus - The Group is focused on the production and sale of nuts and chips, with products distributed to over 10 countries, including Singapore, Malaysia, and the PRC[46]. - The Group expects strong demand for snack products, particularly those with less sugar and artificial ingredients, as health awareness increases among consumers[24]. - Revenue from nuts accounted for approximately 65.6% of total revenue in 2023, down from 68.0% in 2022, while chips contributed 31.4% in 2023, up from 28.9% in 2022[54]. - The Group's revenue from chips increased to S$22.0 million in 2023, with a gross profit of S$7.2 million and a margin of 32.6%, compared to S$21.7 million and a margin of 28.0% in 2022[63]. - Sales in Singapore and Malaysia represented approximately 60.9% and 29.2% of total revenue in 2023, respectively, while sales from the PRC (including Hong Kong) decreased from 9.0% in 2022 to 5.2% in 2023[58]. Financial Position - Total equity as at 31 December 2023 was approximately S$73.2 million, an increase from S$68.4 million in 2022[39]. - Current assets increased to approximately S$55.3 million as at 31 December 2023, compared to S$53.3 million in 2022[39]. - The Group's non-current assets rose to approximately S$28.7 million as at 31 December 2023, up from S$27.4 million in 2022[39]. - The current ratio as at 31 December 2023 was 6.6, indicating strong liquidity[43]. - The Group had nil bank and other borrowings as at 31 December 2023, compared to approximately S$2.9 million as at 31 December 2022[110]. Shareholder Returns - The Board has recommended a final dividend of 0.23 Hong Kong cents per ordinary share for the year ended 31 December 2023, totaling approximately HK$2.3 million (equivalent to approximately S$0.4 million)[27]. - The company has recommended a final dividend of 0.23 Hong Kong cents per ordinary share for the year ended December 31, 2023, totaling approximately HK$2.3 million, subject to shareholder approval[132]. Management and Governance - The management team includes family members, indicating a strong familial connection within the leadership structure[155]. - The Group's finance team, led by Mr. Terence Loo, coordinates with sales and procurement teams to manage financial and operational risks[186]. - The Group's finance manager and executive Directors regularly review foreign exchange rates and hedging methods to mitigate currency risks[131]. - SWL's governance includes a risk management committee, highlighting its focus on managing potential risks[150]. - The company is committed to maintaining close working relationships with customers to enhance business development[150]. Workforce and Employee Costs - The Group's employee count increased from 311 to 358 from December 31, 2022, to December 31, 2023, with staff costs rising from approximately S$11.7 million to S$12.4 million[140]. - Capital expenditures incurred during the year ended 31 December 2023 were approximately S$3.1 million, an increase from approximately S$2.0 million in the year ended 31 December 2022[113]. - The Group's capital commitments as at 31 December 2023 were approximately S$0.5 million, up from approximately S$0.3 million in 2022[113]. Corporate Structure - The Group's principal activity is investment holding, primarily engaged in the production, packaging, and sale of nuts and chips, with a track record of over 50 years[197]. - Core products include roasted nuts, baked nuts, potato chips, and cassava chips, distributed to over 10 countries including Singapore, Malaysia, and the PRC[197]. - The financial results for the year ended December 31, 2023, and the Group's financial position are detailed in the Financial Statements[200]. - A comprehensive business review and analysis for the year ended December 31, 2023, is provided in the "Management Discussion and Analysis" section of the annual report[199]. - The Group's financial statements are audited and presented alongside the Board's report for the year ended December 31, 2023[196].

Financial Performance - Total revenue for the year ended December 31, 2023, was SGD 70,117,966, a decrease of 6.3% compared to SGD 74,799,701 in 2022[2] - Profit before tax for the same period was SGD 6,901,898, down 4.6% from SGD 7,234,805 in the previous year[2] - Net profit for the year was SGD 5,455,152, reflecting a decline of 6.2% from SGD 5,815,266 in 2022[2] - Basic earnings per share for the year was SGD 0.55, compared to SGD 0.58 in the previous year[4] - The group reported a gross profit of SGD 19,766,148 for 2023, compared to SGD 17,964,773 in 2022, reflecting an increase of 10.0%[17] - The gross profit for the year ended December 31, 2023, increased by approximately 10.0% to about SGD 19.8 million, compared to SGD 18.0 million for the year ended December 31, 2022[50] - Annual profit decreased by approximately SGD 0.4 million or 6.2% to about SGD 5.5 million for the year ending December 31, 2023, mainly due to a decrease in other income and increased sales and distribution expenses[57] Revenue Breakdown - Revenue from the nuts segment was SGD 45,972,369, down 9.5% from SGD 50,834,158 in the previous year, while the chips segment generated SGD 22,027,219, an increase of 1.7% from SGD 21,656,353[17] - Revenue from nuts decreased to SGD 45,972,369, accounting for 65.6% of total revenue, down from 68.0% in the previous year[37] - Revenue from chips increased to SGD 22,027,219, representing 31.4% of total revenue, up from 28.9% in 2022[37] - The group operates primarily in Singapore and Malaysia, with total revenue from Singapore at SGD 42,721,738, down from SGD 44,797,269 in 2022[19] - Revenue from the Greater China region, including Hong Kong and Macau, decreased significantly to SGD 3,670,934 from SGD 6,710,316 in the previous year[19] Assets and Liabilities - Cash and cash equivalents decreased by 34.8% to SGD 19,490,038 from SGD 29,879,477 in the prior year[2] - Total assets increased to SGD 75,626,552, compared to SGD 73,143,154 in 2022[5] - The company has no bank borrowings as of December 31, 2023, down from SGD 2,859,361 in 2022[2] - Trade receivables decreased to SGD 11,557,873 as of December 31, 2023, from SGD 12,242,384 in 2022[32] - Trade payables increased to SGD 4,448,421 as of December 31, 2023, compared to SGD 3,926,392 in 2022[33] Margins and Ratios - The company reported a gross profit margin of 28.2%, up from 24.0% in 2022[2] - The return on equity decreased to 7.5% from 8.5% in the previous year[2] - The overall gross margin improved from approximately 24.0% for the year ended December 31, 2022, to about 28.2% for the year ended December 31, 2023[50] - The gross margin for nuts increased from approximately 22.3% in 2022 to 26.2% in 2023, primarily due to a decrease in the average cost of raw nuts[42] - The gross margin for chips rose from approximately 28.0% in 2022 to 32.6% in 2023, attributed to a decline in the average cost of raw potatoes[42] - The current ratio as of December 31, 2023, was 6.6 times, compared to 7.1 times as of December 31, 2022, indicating a strong liquidity position[58] Expenses - Sales and distribution expenses increased by approximately SGD 0.7 million or 18.5% to about SGD 4.7 million for the year ending December 31, 2023, primarily due to increased marketing activities[53] - Administrative expenses rose by approximately SGD 0.3 million or 3.6% to about SGD 8.6 million for the year ending December 31, 2023, mainly due to increased employee costs[54] - Financing costs decreased to SGD 96,580 in 2023 from SGD 116,821 in 2022, primarily due to lower interest on bank loans and lease liabilities[23] Government Support and Other Income - Government grants received increased to SGD 91,509 in 2023 from SGD 43,575 in 2022, indicating a significant rise in support measures[20] - Interest income rose to SGD 811,045 in 2023, up from SGD 268,195 in 2022, attributed to higher interest rates and increased fixed deposits[20][24] - Other income decreased by approximately 57.5% to about SGD 0.9 million for the year ended December 31, 2023, from SGD 2.1 million in the previous year[51] Corporate Governance and Compliance - The company has adhered to the corporate governance code as outlined in the listing rules, ensuring compliance throughout the year ending December 31, 2023[76] - The board of directors confirmed compliance with the standard code of conduct for securities trading throughout the year ending December 31, 2023[77] - The audit committee, consisting of three independent non-executive directors, reviewed the audited consolidated financial statements for the year ending December 31, 2023, ensuring compliance with applicable accounting standards[85] - Deloitte & Touche LLP confirmed that the financial figures in the preliminary announcement for the year ending December 31, 2023, are consistent with the audited financial statements[86] Future Outlook and Strategy - The company plans to continue focusing on food production, packaging, and retail as part of its core business strategy[7] - The company anticipates the global snack food market, including nuts and chips, to grow at an annual rate of about 2.7% until 2027[47] - The company plans to increase marketing expenditures to enhance brand awareness in response to changing consumer preferences towards healthier snack options[47] - The economic outlook for Singapore in 2024 is projected to grow between 1.0% and 3.0%[45] Employee and Shareholder Information - As of December 31, 2023, the company employed 358 staff, up from 311 in the previous year, with employee costs amounting to approximately SGD 12.4 million compared to SGD 11.7 million in 2022, reflecting a year-over-year increase of about 6%[72] - The company has established an employee stock option plan to incentivize and retain qualified participants, enhancing long-term development[72] - The company's major shareholder, SWL Limited, holds 750 million shares, representing 75% of the issued share capital[81] - The board of directors consists of seven members, including four executive directors and three independent non-executive directors[87]

Revenue Performance - Revenue for the six months ended June 30, 2023, was approximately S$33.6 million, a decrease of 4.2% from S$35.1 million in the same period of 2022[15] - The Group's revenue for the six months ended June 30, 2023, decreased by approximately S$1.5 million or 4.2% to approximately S$33.6 million from S$35.1 million for the same period in 2022, primarily due to reduced sales to end customers in China (including Hong Kong) [27] - Revenue from the sale of nuts accounted for approximately 64.7% of total revenue for the six months ended June 30, 2023, down from 67.4% for the same period in 2022, attributed to decreased demand in the PRC [32] - Revenue from the PRC (including Hong Kong) decreased significantly from approximately 10.9% for the six months ended June 30, 2022, to approximately 4.6% for the same period in 2023 [38] - Revenue from Singapore increased to S$20,687,355, up 0.8% from S$20,519,468 in 2022[171] - Revenue from Malaysia rose to S$9,979,868, an increase of 3.8% from S$9,611,645 in 2022[171] - Revenue from the "Nuts" segment was S$21,735,085, down 8.1% from S$23,645,783 in 2022, while the "Chips" segment revenue increased by 2.7% to S$10,771,824 from S$10,486,239[167] Profitability - Gross profit increased by 8.9% to S$9.34 million, compared to S$8.58 million in the previous year[15] - Profit before taxation rose by 14.6% to S$4.61 million, up from S$4.02 million in 2022[15] - Profit for the period increased by 15.8% to S$3.38 million, compared to S$2.92 million in the prior year[15] - The Group's profit for the period increased by approximately S$0.5 million or 15.8% from approximately S$2.9 million for the six months ended June 30, 2022, to approximately S$3.4 million for the six months ended June 30, 2023[63] - Profit for the period was S$3,384,403, up 16.0% from S$2,921,564 in the prior year[134] - The Group's profit before taxation was S$4,606,551, up from S$4,018,467 in the previous year, indicating a growth of 14.6%[167] Cost Management - The Group's cost of sales decreased by approximately S$2.2 million or 8.4% from approximately S$26.5 million for the six months ended June 30, 2022, to approximately S$24.3 million for the six months ended June 30, 2023[70] - The gross profit margin improved to 27.8% in 2023 from 24.4% in 2022[20] - The gross profit margin improved from approximately 24.4% for the six months ended June 30, 2022, to approximately 27.8% for the same period in 2023, mainly due to lower average costs of certain raw nuts and potatoes [42] - Selling and distribution expenses rose by approximately S$0.6 million or 36.7% to approximately S$2.1 million for the six months ended June 30, 2023, driven by increased marketing activities[80] - Administrative expenses decreased by approximately S$0.2 million or 6.3% to approximately S$2.9 million for the six months ended June 30, 2023, mainly due to lower professional fees[81] Financial Position - Total equity as of June 30, 2023, was S$71.01 million, reflecting a 3.8% increase from S$68.40 million at the end of 2022[17] - Current liabilities decreased by 19.1% to S$6.12 million from S$7.56 million at the end of 2022[17] - Non-current liabilities decreased by 21.7% to S$3.71 million from S$4.74 million at the end of 2022[17] - The Group's total assets were S$80,842,446 as of June 30, 2023, compared to S$80,705,854 as of December 31, 2022[135] - The Group's net assets increased to S$71,010,586 as of June 30, 2023, from S$68,400,285 at the end of 2022, reflecting a growth of 3.7%[137] Employee and Operational Metrics - The Group's total staff costs for the six months ended June 30, 2023, were approximately S$4.5 million, an increase from S$4.1 million for the same period in 2022, with the number of employees rising to 300 from 244[127] - The company had 300 employees as of June 30, 2023, with employee costs amounting to approximately S$4.5 million, up from S$4.1 million in the previous year[130] Market Outlook and Strategy - The Group expects the global snack food market to continue growing at approximately 2.7% annually to 2027, driven by changes in dietary habits and demand for healthy snacks[64] - The Group aims to maintain sustainable growth and create long-term shareholder value while managing its business cautiously[65] - The Group's performance reflects a strategic focus on improving profit margins despite a decrease in revenue[63] Dividends and Capital Management - The Group has not declared any interim dividend for the six months ended June 30, 2023, despite being profitable, maintaining its dividend policy under review[122] - The net proceeds from the Company's IPO amounted to approximately HK$66.8 million (equivalent to approximately S$11.7 million), with actual utilization as of June 30, 2023, being S$30.8 million, leaving S$36.0 million unutilized[113][116] - The Group plans to expand its existing nuts and potato chips products, with a planned use of S$47.0 million, of which S$20.6 million has been utilized as of June 30, 2023[116] Foreign Exchange and Risk Management - The Group is exposed to foreign currency exchange fluctuations, primarily selling food products in US dollars and sourcing materials in US dollars, euros, and Australian dollars[119] - The Group generally hedges 30% of its expected monthly sales and purchases denominated in foreign currencies to mitigate foreign exchange risk[120]

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。 本公告原文乃以英文編製，其後翻譯成中文。中英文版本如有任何歧義，概以英文 版為準。 TS WONDERS HOLDING LIMITED （於開曼群島註冊成立之有限公司） （股份代號：1767） 截至二零二三年六月三十日止六個月的中期業績公告 財務摘要： 中期綜合損益及其他全面收益表 截至六月三十日止六個月 二零二三年 二零二二年 變動百分比 新加坡元 新加坡元 收益 33,619,903 35,080,289 (4.2%) 除稅前溢利 4,606,551 4,018,467 14.6% 期內溢利 3,384,403 2,921,564 15.8% 中期綜合財務狀況表 於二零二三年 於二零二二年 六月三十日 十二月三十一日 變動百分比 新加坡元 新加坡元 銀行結餘及現金 33,105,695 29,879,477 10.8% 銀行及其他借款 1,598,378 2,859,361 (44.1%) 資產淨 ...

Financial Performance - The Group's total revenue increased by approximately S$9.5 million or 14.6% from approximately S$65.3 million in FY2021 to approximately S$74.8 million in FY2022, driven by higher sales of nuts and chips in Singapore and Malaysia [17]. - The Group's total gross profit rose by approximately S$0.3 million or 1.6% from approximately S$17.7 million in FY2021 to approximately S$18.0 million in FY2022, with a gross profit margin decreasing from approximately 27.1% to 24.0% [17]. - The Group's profit for the year increased by approximately S$2.4 million or 69.9% from approximately S$3.4 million in FY2021 to approximately S$5.8 million in FY2022 [17]. - The Group's gross profit for the year ended December 31, 2022, was S$17,964,773, with a gross profit margin of 24.0% [36][40]. - Profit for the year ended December 31, 2022, was S$5,815,266, representing a profit margin of 7.8% [36][40]. - The Group's total revenue for the year ended 31 December 2022 was S$74.8 million, with nuts generating S$50.8 million and chips generating S$21.7 million [50]. - The Group's cost of sales increased by approximately S$9.2 million or 19.4% from approximately S$47.6 million for the year ended December 31, 2021, to approximately S$56.8 million for the year ended December 31, 2022 [79]. - Other income increased by approximately S$1.8 million or 513.1% from approximately S$0.3 million for the year ended December 31, 2021, to approximately S$2.1 million for the year ended December 31, 2022 [85]. Market and Demand Trends - The Group expects strong demand for snack products, particularly those with less sugar, as health awareness among consumers increases [23]. - The Group expects strong demand for healthier snack options, particularly those with lower sugar and artificial sweeteners, driven by increasing consumer health awareness [27]. - The global snack food market, including nuts and chips, is expected to grow at approximately 2.7% annually until 2027 [75]. - The Group anticipates improvements in external demand and regional economic growth, particularly in the PRC, which may positively impact sales in 2023 [66]. Dividend and Shareholder Value - No dividend has been recommended for FY2022 due to the uncertain macroeconomic outlook [26]. - The Board resolved not to recommend any final dividend for the year ended December 31, 2022, despite the company being profitable [129]. - The Group's dividend policy remains unchanged, with the Board planning to assess dividend recommendations in the next financial period [199]. Financial Position and Equity - Total equity as of December 31, 2022, was S$68,400,285, an increase from S$61,791,537 in 2021 [37]. - The current ratio improved to 7.1 as of December 31, 2022, compared to 4.5 in 2021 [40]. - The Group's non-current assets increased to S$27,371,556 as of December 31, 2022, from S$25,958,207 in 2021 [37]. - Bank and other borrowings decreased to approximately S$2.9 million as at December 31, 2022 from approximately S$3.8 million as at December 31, 2021 [101]. Management and Operations - The Group has been accredited with various certifications related to quality management and food safety, ensuring compliance with legal requirements [44]. - The Group's sales strategy includes strict quality assurance procedures and compliance with food safety regulations, supported by various certifications [46]. - The company is focused on maintaining close relationships with suppliers and customers to enhance operational efficiency and market presence [146]. - The company is committed to leveraging technology and improving operational efficiency through experienced leadership in IT and production management [173]. Employee and Staffing - The company incurred staff costs of approximately S$11.7 million for the year ended December 31, 2022, compared to S$10.2 million for the previous year [137]. - The company had 311 employees as of December 31, 2022, an increase from 271 employees in the previous year [137]. Future Outlook - Singapore's GDP growth for 2023 is forecasted to be between 0.5% and 2.5% [23]. - The Singapore economy grew by 3.6% in 2022, moderating from 8.9% growth in 2021, with a forecasted GDP growth for 2023 between 0.5% and 2.5% [64][65].

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無負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概無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。 本公告原文乃以英文編製，其後翻譯成中文。中英文版本如有任何歧義，概以英文 版為準。 TS WONDERS HOLDING LIMITED （於開曼群島註冊成立之有限公司） （股份代號：1767） 截至二零二二年十二月三十一日止年度的全年業績公告 財務摘要： 綜合損益及其他全面收益表 二零二二年 二零二一年 變動百分比 新加坡元 新加坡元 收益 74,799,701 65,269,727 14.6 除稅前溢利 7,234,805 5,131,694 41.0 年度溢利 5,815,266 3,423,115 69.9 綜合財務狀況表 二零二二年 二零二一年 變動百分比 新加坡元 新加坡元 銀行結餘及現金 29,879,477 26,277,352 13.7 ...