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。 鹏高控股集團 Pengo Holdings Group Limited Pengo Holdings Group Limited 鵬高控股集團有限公司 鵬高控股集團有限公司（前稱卓航控股集團有限公司）（「本公司」，連同其附屬 公司統稱「本集團」）董事（「董事」）會（「董事會」）欣然宣佈截至二零二五年三月 三十一日止年度（「二零二五財年」）本集團的綜合經審核業績，連同截至二零 二四年三月三十一日止年度（「二零二四財年」）的比較數字，由本公司審核委 員會（「審核委員會」）審閱，並已於二零二五年六月二十七日獲董事會批准。 財務摘要 1 （前稱「Trendzon Holdings Group Limited卓航控股集團有限公司」） （於開曼群島註冊成立的有限公司） （股 份 代 號：1865） 綜合損益及其他全面收益表 截至二零二五年三月三十一日止年度 | | | 二零二五年 | 二零二四年 | | --- ...

卓航控股(01865)发布公告，于2025年5月15日，投资者(公司间接全资附属公司鹏高绿能新能源(广州)有 限公司)与目标股东(中亚股权投资基金管理(深圳)有限公司)及目标公司(协鑫产业园管理(广东)有限公司) 订立注资协议，据此，投资者已有条件同意认购目标公司的注册资本，认购价为人民币4000万元。 于完成后，投资者将持有目标公司经扩大注册资本之约51%。因此，完成注资将令集团对目标公司及项 目公司拥有控制权，因此将作为本公司之间接非全资附属公司与本公司财务报表综合入账。 此次注资将使集团在策略上占优势，充分利用中国再生能源转型机遇，透过永续成长为股东创造长期价 值。透过收购目标公司51%的股份，集团将获得其先进抽水蓄能项目(100MW/600MWh)和逆变器生产 (15GW/20GW)的控制权，为未来每年198,000MWh的发电收入奠定基础，同时实现向高成长清洁能源领 域的多元化发展。这种垂直整合透过三大关键驱动力为股东价值奠定了坚实的基础：(1)公用事业规模 储能投入营运后带来的经常性收入;(2)透过将集团的建设专业知识与目标公司的技术相结合来提高利润 率;以及(3)优先享受广东省的可再生能源政策和 ...

Revenue Performance - For the six months ended September 30, 2024, the total revenue was approximately SGD 24.1 million, a decrease of SGD 5.0 million compared to SGD 29.1 million for the same period in 2023[13]. - The decrease in revenue was primarily due to a reduction of approximately SGD 4.1 million in gas pipeline project revenue and SGD 0.7 million in water pipeline project revenue[13]. - The company's revenue for the first half of 2025 decreased by approximately 5.0 million SGD or 17.2% to about 24.1 million SGD, down from approximately 29.1 million SGD in the first half of 2024[22]. - Revenue from gas pipeline projects decreased by approximately 4.1 million SGD, while revenue from water pipeline projects decreased by approximately 0.7 million SGD, primarily due to the completion of related projects from previous years[22]. - Revenue for the six months ended September 30, 2024, was 24,056 thousand SGD, a decrease of 17.3% compared to 29,064 thousand SGD for the same period in 2023[144]. - The revenue from gas-related construction contracts was SGD 7,874,000, down 34.5% from SGD 11,930,000 in the previous year[182]. - The revenue from water-related construction contracts was SGD 15,964,000, a slight decrease of 4.3% compared to SGD 16,679,000 in the same period of 2023[182]. Financial Performance - Gross profit for the first half of 2025 was approximately 2.7 million SGD, a decrease of about 0.3 million SGD from 3.0 million SGD in the first half of 2024, with a gross margin of 11.2% compared to 10.2% in the previous year[24]. - The company recorded a loss of approximately 9.6 million SGD in the first half of 2025, an increase of about 1.1 million SGD from a loss of approximately 8.5 million SGD in the first half of 2024[32]. - The company reported a loss per share from continuing operations of (6.80) Singapore cents, compared to (6.43) Singapore cents in the previous year, reflecting a decline of 5.8%[148]. - The group reported a loss before tax of SGD 9,676,000 for the six months ended September 30, 2024, compared to a loss of SGD 8,193,000 in the same period of 2023[178]. - Operating loss before tax for the six months was (9,676) thousand SGD, compared to (8,193) thousand SGD in the previous year, indicating an increase in loss of 18.1%[144]. Expenses and Costs - The cost of sales decreased by approximately 4.7 million SGD or 18.1% to about 21.4 million SGD in the first half of 2025, aligning with the revenue decrease[23]. - Administrative expenses rose to approximately 14.3 million SGD in the first half of 2025 from about 11.4 million SGD in the same period of 2024, driven by increased rent and professional fees[28]. - The administrative expenses and financial costs for the six months ended September 30, 2024, were SGD 14,349,000 and SGD 587,000 respectively, compared to SGD 11,379,000 and SGD 861,000 in the previous year[178]. Assets and Liabilities - Total assets as of September 30, 2024, were 104,648 thousand SGD, down from 112,131 thousand SGD, a decrease of 6.7%[151]. - The company's equity attributable to owners decreased to 60,608 thousand SGD from 69,686 thousand SGD, a decline of 13.1%[151]. - Total liabilities decreased from 42,272 thousand to 37,240 thousand, a reduction of approximately 12.0%[153]. - Current liabilities increased from 24,729 thousand to 26,601 thousand, an increase of about 7.5%[153]. - Non-current liabilities decreased significantly from 17,543 thousand to 10,639 thousand, a decrease of approximately 39.5%[153]. Cash Flow and Financing - Cash flow from operating activities generated a net cash of 7,045 thousand, compared to a cash outflow of 17,943 thousand in the previous year[161]. - The company incurred a net cash outflow of (351) thousand from investing activities, compared to (5,675) thousand in the previous year[164]. - The company's total borrowings decreased by approximately 5.5 million SGD to about 17.7 million SGD as of September 30, 2024, primarily due to repayments of bank and other loans[40]. - The net asset value as of September 30, 2024, was approximately 67.4 million SGD, down from about 69.9 million SGD as of March 31, 2024[42]. Corporate Governance and Compliance - The company has adopted corporate governance codes to enhance accountability and shareholder value, ensuring compliance as of September 30, 2024[141]. - The audit committee reviewed the unaudited interim results and confirmed compliance with applicable accounting standards and regulations[142]. - The company continues to evaluate and enhance its corporate governance practices to align with best practices[141]. Strategic Initiatives - The board is actively exploring new business opportunities globally to identify markets with growth potential for diversification[14]. - The management believes that all ongoing projects are progressing according to schedule and are not expected to incur any liabilities[17]. - The group aims to strengthen its market position in the construction industry and develop the Trendzon Innovation City industrial park in China[14]. - The company is committed to enhancing its core competitiveness and stabilizing operations in a challenging business environment[13]. - The company is exploring market expansion opportunities and new strategies to enhance its service offerings in the construction and engineering sectors[168]. Shareholder Actions - The company announced a share consolidation on July 19, 2024, merging every 10 shares into 1 share, increasing the par value from HKD 0.01 to HKD 0.1[68]. - A rights issue was proposed at a subscription price of HKD 0.18 per share, with a total of 566,720,000 shares available for subscription[71]. - The total proceeds from the rights issue were approximately HKD 102.0 million, with a net amount of about HKD 100.2 million after expenses[71]. - The board proposed a share consolidation and rights issue to enhance capital structure and shareholder value[86].

Revenue Performance - For the six months ended September 30, 2024, the total revenue was approximately SGD 24.1 million, a decrease of SGD 5.0 million compared to SGD 29.1 million for the same period in 2023[16]. - The revenue decline was primarily due to a reduction of approximately SGD 4.1 million in gas pipeline project revenue and SGD 0.7 million in water pipeline project revenue[16]. - Revenue for the six months ended September 30, 2024, was 24,056 thousand SGD, a decrease of 17.3% compared to 29,064 thousand SGD for the same period in 2023[147]. - The revenue from gas-related construction contracts was SGD 7,874,000, down 34.5% from SGD 11,930,000 in the previous year[185]. - The revenue from water-related construction contracts was SGD 15,964,000, a slight decrease of 4.3% compared to SGD 16,679,000 in the same period of 2023[185]. Financial Performance - The group's gross profit for the first half of 2025 was approximately SGD 2.7 million, down from SGD 3.0 million in the first half of 2024, with a gross profit margin of 11.2% compared to 10.2% in the previous period[27]. - The group recorded a loss of approximately SGD 9.6 million in the first half of 2025, an increase of about SGD 1.1 million compared to a loss of approximately SGD 8.5 million in the first half of 2024[35]. - The company reported a net loss of (9,593) thousand SGD for the period, compared to (8,466) thousand SGD in the previous year, an increase in loss of 13.3%[151]. - The group reported a loss before tax of SGD 9,676,000 for the six months ended September 30, 2024, compared to a loss of SGD 8,193,000 in the same period of 2023[181]. - The basic and diluted loss per share from continuing operations was (6.80) Singapore cents, compared to (6.43) Singapore cents in the previous year, reflecting a deterioration in performance[151]. Operational Strategy - The management strategy remains focused on actively bidding to strengthen and enhance the company's reputation in the market[17]. - The company is exploring new business opportunities globally to identify markets with growth potential for diversification[17]. - The company aims to develop the Trendzon Innovation City industrial park in China to solidify its market position in the construction industry[17]. - The board believes that expanding into potential businesses presents a good opportunity to increase revenue sources[17]. - The company is prepared to face future challenges and competition by conducting research for developing different businesses and new opportunities[17]. Cost Management - Administrative expenses rose to approximately SGD 14.3 million in the first half of 2025 from SGD 11.4 million in the same period of 2024, driven by increased rental and professional fees[31]. - The group's financial costs decreased from approximately SGD 0.9 million in the first half of 2024 to approximately SGD 0.6 million in the first half of 2025 due to a reduction in average borrowings[33]. - The group’s administrative expenses and financial costs totaled SGD 14,349,000 and SGD 587,000 respectively for the six months ended September 30, 2024[181]. Assets and Liabilities - Total assets as of September 30, 2024, were 104,648 thousand SGD, a decrease of 6.5% from 112,131 thousand SGD as of March 31, 2024[154]. - Current assets decreased to 75,372 thousand SGD from 81,752 thousand SGD, a decline of 7.3%[154]. - Total liabilities decreased from 42,272 thousand to 37,240 thousand, a reduction of approximately 12.5%[156]. - Current liabilities increased from 24,729 thousand to 26,601 thousand, an increase of about 7.5%[156]. - Non-current liabilities decreased significantly from 17,543 thousand to 10,639 thousand, a decrease of approximately 39.5%[156]. Cash Flow and Financing - Cash generated from operating activities improved to 7,045 thousand compared to a cash outflow of 17,943 thousand in the previous year[164]. - Financing activities resulted in a net cash outflow of (6,422) thousand, contrasting with a cash inflow of 22,064 thousand in the previous year[167]. - The company’s cash and cash equivalents at the end of the period increased to 2,657 thousand from 2,621 thousand[167]. Employee and Shareholder Information - The group employed a total of 540 employees as of September 30, 2024, up from 481 employees as of March 31, 2024[47]. - Employee compensation for the first half of 2025 was approximately SGD 9.4 million, compared to SGD 12.3 million in the first half of 2024[47]. - Major shareholders include Zhongbei Capital Limited and Ms. Yao Jiajia, each holding 13,800,000 shares, representing 9.74% of the issued shares as of September 30, 2024[96][97]. Corporate Governance - The company has adopted corporate governance codes to enhance accountability and shareholder value, ensuring compliance as of the reporting date[144]. - The audit committee reviewed the unaudited interim results and confirmed compliance with applicable accounting standards and regulations[145]. Market and Investment Activities - The company is in the process of acquiring Zhongshan Jiantai Ying Electric Manufacturing Co., Ltd. for a maximum consideration of RMB 8 million, which will become a wholly-owned subsidiary upon completion[75]. - The company agreed to sell its entire stake in Jumbo Harvest Group Limited for HKD 9.25 million, which is involved in regulated activities under the Securities and Futures Ordinance in Hong Kong[78]. - The company has not disclosed any new strategies or acquisitions in the provided content[123].

Corporate Governance - The company has adopted and complied with all provisions of the corporate governance code as of March 31, 2024[3]. - The board consists of six executive directors and four independent non-executive directors, ensuring compliance with listing rules regarding board composition[13]. - The company is committed to enhancing corporate governance practices to ensure accountability and protect shareholder interests[2]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee specific aspects of governance[10]. - The company has implemented a diversity policy for the board, promoting a range of experiences and skills among directors[16]. - The company has engaged in continuous professional development for its directors to ensure they are well-informed about their responsibilities[19]. - The roles of the Chairman and CEO are separated, with distinct individuals holding these positions to comply with governance standards[20]. - The company has established appropriate liability insurance for directors to cover responsibilities arising from corporate activities[12]. - The company has adopted a policy to ensure the independence of the board, focusing on a balanced composition of executive and non-executive directors[41]. - The board's governance responsibilities include reviewing and monitoring compliance with legal and regulatory requirements[38]. - The company encourages directors to seek independent professional advice at the company's expense when fulfilling their duties[37]. - The board meets at least four times a year, with a minimum of 14 days' notice provided for regular meetings[32]. - The Nomination Committee held two meetings in fiscal year 2024, with all members attending both meetings[42]. - The Remuneration Committee held two meetings in fiscal year 2024, with all members attending both meetings[63]. - The audit committee held four meetings during the fiscal year 2024, with all members attending all sessions[67]. - The nomination committee consists of four members, including Mr. Hu Qi-teng as the chairman, and is responsible for reviewing the board's structure and recommending candidates for directorship[40]. - The board retains decision-making authority over all significant matters, including policies, strategies, budgets, and major transactions[37]. - The company aims to ensure that board members possess the skills, experience, and diverse perspectives necessary for its business needs[46]. - The board composition includes independent non-executive directors from diverse industries, accounting for over one-third of the board[61]. - The Nomination Committee will regularly review the nomination policy to ensure it meets the company's needs and reflects current regulatory requirements[57]. Financial Performance - Total revenue for the fiscal year 2024 was approximately 59.1 million SGD, a slight decrease of about 0.7 million SGD compared to 59.8 million SGD in fiscal year 2023[136]. - Gross profit increased to approximately 8.0 million SGD in fiscal year 2024 from 7.1 million SGD in fiscal year 2023, with a gross margin improvement from 11.8% to 13.5%[136]. - The decrease in revenue was primarily due to a reduction of approximately 21.4 million SGD in gas pipeline project revenue, offset by an increase of about 20.0 million SGD in water pipeline project revenue[147]. - Total assets decreased to 112.1 million SGD in fiscal year 2024 from 120.4 million SGD in fiscal year 2023[132]. - Total liabilities decreased significantly to 42.3 million SGD in fiscal year 2024 from 64.2 million SGD in fiscal year 2023[132]. - Total equity increased to 69.9 million SGD in fiscal year 2024 from 56.1 million SGD in fiscal year 2023[132]. - The group recorded a loss of approximately 12.3 million SGD in FY2024, compared to a loss of about 2.1 million SGD in FY2023[184]. - The cost of sales decreased by approximately 1.6 million SGD or 3.0% from approximately 52.7 million SGD in FY2023 to about 51.1 million SGD in FY2024, aligning with the revenue decline[173]. - Other income decreased from approximately 6.2 million SGD in FY2023 to about 2.6 million SGD in FY2024, mainly due to a reduction in agency income by approximately 3.0 million SGD[175]. - Administrative expenses increased to approximately 18.7 million SGD in FY2024 from about 12.2 million SGD in FY2023, primarily due to increased operational expenses related to new acquisitions[180]. - Trade receivables and other receivables decreased from approximately 29.6 million SGD as of March 31, 2023, to about 23.1 million SGD as of March 31, 2024, mainly due to a reduction in trade receivables by approximately 7.6 million SGD[186]. - The group's total borrowings decreased from approximately 28.2 million SGD as of March 31, 2023, to about 23.2 million SGD as of March 31, 2024, primarily due to repayments of bank and other borrowings[190]. - The group's asset-liability ratio decreased from approximately 58% as of March 31, 2023, to about 38% as of March 31, 2024, mainly due to reduced borrowings and completed equity financing activities[191]. Business Strategy and Operations - The company aims to drive transformation and prosperity through alliances with listed companies and the establishment of a multi-ecosystem platform[7]. - The company is focused on resource integration and achieving its vision through collaboration and strategic partnerships[6]. - The company aims to strengthen its market position in the construction and building industry in Singapore and expand into real estate, engineering infrastructure, and other sectors in China and Southeast Asia[103]. - The board is actively exploring new business opportunities in various geographical locations to diversify the company's operations and increase revenue sources[140]. - The group has two ongoing gas pipeline projects and nine water pipeline projects with a total contract value of approximately SGD 122.5 million, of which about SGD 69.1 million has been recognized as revenue as of March 31, 2024[152]. - The company secured a new gas project and a new water project in fiscal year 2024, with a total contract value of approximately 10.0 million SGD[147]. - The company plans to enhance its market position in the construction industry and develop the "Zhuohang • Diandian Science and Technology Innovation City" industrial park project in China[137]. - The group has ongoing projects that are progressing according to schedule, with no anticipated liabilities to third parties[152]. - The group plans to utilize net proceeds from fundraising for various purposes, including operational funding and the acquisition of new machinery[157]. - The group aims to enrich its business portfolio and create a sustainable business development model to deliver satisfactory returns to shareholders[148]. - The company remains confident in its sustainable development trajectory despite the challenging operating environment anticipated in the coming year[147]. Environmental, Social, and Governance (ESG) - The board of directors plays a key role in overseeing environmental, social, and governance (ESG) issues, dedicating significant time to assess related risks and develop corresponding policies[113]. - The company conducts at least one corporate risk assessment annually, covering current and potential risks, including those related to ESG[116]. - Stakeholders, including shareholders and management, have been invited to assess the relevance and importance of 19 ESG issues to the company's sustainability performance[117]. - The company has established a governance framework to ensure that management has the necessary tools and resources to monitor ESG issues effectively[114]. - Regular meetings are held to review the progress and risk management related to ESG governance matters[114]. - The company emphasizes communication and feedback mechanisms with stakeholders, including annual general meetings and performance evaluations[115]. - The board evaluates identified risks and reviews the company's existing strategies and internal controls to implement necessary improvements[116]. - The company is committed to enhancing stakeholder resilience against potential risks inherent in its business operations[116]. - The company maintains transparency and reputation through various communication channels, including annual reports and corporate announcements[115]. Employee and Compensation Policies - As of March 31, 2024, the group employed a total of 481 employees, an increase from 476 employees as of March 31, 2023[200]. - The company's compensation policy is aligned with current market practices and is based on individual employee performance, qualifications, and experience[200]. - The board believes that the number of foreign workers employed may fluctuate or decrease, making current expansion plans not cost-effective[196]. - The company may incur additional costs related to maintaining dormitories and complying with potential new regulations from the Singapore government[196]. - The management regularly reviews the capital structure, considering capital costs and associated risks[199]. - The company plans to balance its overall capital structure through dividend payments, issuing new shares, share buybacks, and issuing new debt or redeeming existing debt[199].

Financial Performance - The company's revenue from continuing operations for the fiscal year 2024 was 11,869 thousand SGD, a decrease from 15,024 thousand SGD in 2023, representing a decline of approximately 21.4%[2] - The company recorded a loss attributable to owners of the company from continuing operations of (10,437) thousand SGD in 2024, compared to a loss of (1,957) thousand SGD in 2023, indicating a substantial increase in losses[6] - The group recorded total revenue of approximately SGD 59.1 million for the fiscal year 2024, a slight decrease of about SGD 0.7 million compared to SGD 59.8 million in fiscal year 2023[42] - The loss before tax from continuing operations was SGD 10,481,000, significantly higher than the loss of SGD 1,105,000 reported in the previous fiscal year, indicating a deterioration in financial performance[109] - The total comprehensive loss attributable to owners of the company for the fiscal year was SGD 13,352,000, compared to a loss of SGD 2,777,000 in the previous year, reflecting increased financial challenges[111] - The basic and diluted loss per share from continuing operations was SGD 0.78, compared to SGD 0.18 in the previous fiscal year, indicating a worsening loss per share[111] Revenue and Income Sources - Other income decreased to approximately 2.6 million SGD in 2024 from 6.2 million SGD in 2023, a decline of approximately 58.1% primarily due to a reduction in agency income[25] - The company reported other income of SGD 2,576,000, a decrease from SGD 6,163,000 in the previous year, indicating a decline in additional revenue sources[109] - Revenue from gas pipeline projects decreased by approximately SGD 21.4 million, while revenue from water pipeline projects increased by about SGD 20.0 million[46][60] - The company expects a significant increase in revenue from water pipeline projects, with an increase of approximately 20.0 million SGD in fiscal year 2024 due to new projects[197] Costs and Expenses - The cost of materials and subcontracting under construction business increased to 11,217 thousand SGD in 2024 from 7,413 thousand SGD in 2023, marking an increase of approximately 51.5%[2] - Employee benefits costs, including director remuneration, rose significantly to 21,265 thousand SGD in 2024 from 15,012 thousand SGD in 2023, an increase of approximately 41.6%[2] - Administrative expenses increased to approximately SGD 18.7 million in fiscal year 2024 from SGD 12.2 million in fiscal year 2023, primarily due to increased operational costs related to new acquisitions[62] - The company’s financial costs included interest on various borrowings, totaling 1,727 thousand SGD for the current year, compared to 1,613 thousand SGD in the previous year[155] Assets and Liabilities - The group maintained a healthy liquidity position with net current assets of approximately SGD 55.3 million as of March 31, 2024, compared to SGD 47.0 million as of March 31, 2023[67] - The debt-to-equity ratio decreased from approximately 58% to about 38% due to reduced borrowings and completed equity financing activities[67] - Non-current assets decreased to SGD 30,379,000 from SGD 28,583,000, while current assets decreased to SGD 81,752,000 from SGD 91,770,000[128] - The company’s total liabilities included bonds amounting to 859 thousand SGD, a decrease from 1,212 thousand SGD in the previous year[155] Investments and Acquisitions - The company has conditionally agreed to acquire 100% of the issued share capital of Zhongshan Jiantaiying Electric Manufacturing Co., Ltd. for a maximum consideration of RMB 8 million, payable in cash installments[72] - The company has conditionally agreed to sell 22% of the shares in Integral Virtue Limited for a consideration of SGD 6.25 million, with the transaction expected to complete in February 2024[75] - The company has agreed to sell all issued shares of Jumbo Harvest Group Limited for a cash consideration of HKD 9.25 million, with the transaction expected to complete in May 2024[83] Market Position and Strategy - The company plans to enhance its core competitiveness and improve its operational resilience in response to the challenges posed by the ongoing economic changes[19] - The group is actively exploring investment opportunities to diversify its business portfolio and expand revenue sources, including establishing a lending business[52] - The company plans to focus on enhancing its market position in the construction industry and developing the "Dian Dian Science and Technology City" industrial park in China[194] - The company will continue to monitor global economic trends and market conditions to seize business opportunities and achieve better operational performance[194] Other Notable Points - The company did not recommend any final dividend for the fiscal year 2024, consistent with the previous fiscal year[99] - The company has noted that inflation rates have been high, impacting global supply chains and labor costs, but these rates have been steadily declining in 2023[193] - The company anticipates that all ongoing projects will proceed according to schedule without incurring any contingent liabilities[195]

Financial Performance - Revenue for the six months ended September 30, 2023, was S$29,317 thousand, an increase of 12.5% compared to S$26,087 thousand for the same period in 2022[2] - Gross profit for the same period was S$3,230 thousand, up from S$1,267 thousand, indicating a significant improvement in profitability[2] - Operating loss decreased to S$7,603 thousand from S$9,063 thousand year-over-year, reflecting better operational efficiency[2] - For the six months ended September 30, 2023, the operating cash flow before tax loss was (8,466) thousand SGD, an improvement from (10,201) thousand SGD in the same period of 2022, representing a 16.9% reduction in losses[16] - The company reported a total comprehensive loss of 8,280 thousand SGD, compared to a loss of 9,436 thousand SGD for the same period in 2022, representing a decrease of approximately 12.3%[147] - The basic and diluted loss per share for the six months ended September 30, 2023, was (0.66) SGD, compared to (0.99) SGD for the same period in 2022, reflecting an improvement of approximately 33.3%[147] Assets and Liabilities - Total assets as of September 30, 2023, amounted to S$123,926 thousand, compared to S$120,353 thousand as of March 31, 2023, showing a slight growth in asset base[9] - Current liabilities decreased from S$25,430 thousand to S$11,734 thousand, primarily due to a reduction in trade payables and other payables[10] - Borrowings increased to approximately S$30,800 thousand from S$28,200 thousand, attributed to the drawdown of additional loans[13] - The debt-to-equity ratio improved from approximately 58% to 46%, primarily due to an increase in equity from share subscriptions and options exercised[14] - The company reported a total equity of S$75,294 thousand as of September 30, 2023, up from S$56,148 thousand, reflecting strong financial health[9] Cash Flow and Liquidity - The company's net cash and bank balances, including fixed deposits, rose to approximately S$9,700 thousand from S$6,300 thousand, indicating improved liquidity[14] - The total cash and cash equivalents at the end of the reporting period was 2,621 thousand SGD, down from 17,210 thousand SGD at the end of the same period in 2022, indicating a decrease of 84.7%[19] - The financing activities generated a net cash inflow of 22,064 thousand SGD for the six months ended September 30, 2023, significantly higher than the 10,772 thousand SGD in the same period of 2022, marking a 104% increase[19] Employee and Compensation - The company had a total of 689 employees as of September 30, 2023, an increase from 476 employees as of March 31, 2023, reflecting a 44.6% growth in workforce[22] - The employee compensation for the first half of 2024 is approximately 12.6 million SGD, up from about 8.0 million SGD in the first half of 2023, representing a 57.5% increase[22] Strategic Plans and Investments - The management plans to fund future capital expenditures primarily through internal resources, maintaining a robust liquidity position[14] - The company plans to allocate approximately 2.0 million SGD for proposed renovations and expansions of foreign worker dormitories, reflecting a strategic response to regulatory changes and market conditions[26] - The company has no significant investment or capital asset plans as of September 30, 2023, indicating a focus on current operations rather than expansion[24] Corporate Governance and Compliance - The company has adopted the corporate governance code and has complied with its provisions during the reporting period[122] - The company has confirmed full compliance with the standard code for securities transactions by directors during the six months ended September 30, 2023[120] - The interim results for the six months ended September 30, 2023, have not been audited by the independent auditor but have been reviewed by the audit committee[123] Market and Operational Insights - The company plans to continue its focus on infrastructure pipeline construction and related engineering services, targeting the gas, water, telecommunications, and power supply sectors[149] - The board is actively exploring new business opportunities globally to identify markets with growth potential, aiming for diversified development[199] - The group anticipates that the development project of the Zhuohang • Diandian Science and Technology Innovation City will contribute over RMB 25 million in revenue for its joint ventures for the fiscal year ending March 31, 2024[199] Acquisitions and Investments - The acquisition of Zhejiang Taiding resulted in goodwill of approximately 183,000 SGD, attributed to growth and profit potential in new markets and expected operational synergies from the merger[51] - The acquisition of Zhongshan Jiantai Ying is pending completion, which will result in it becoming a wholly-owned subsidiary of the company[56] - The group has not engaged in any significant acquisitions or disposals of subsidiaries during the reporting period[53] Risks and Legal Matters - An independent investigation committee was established to address potential fraudulent activities related to suspicious bonds, with findings indicating that at least four suspicious bonds were forged[63][67] - The group has taken legal action to dismiss unreasonable and malicious claims related to the alleged bonds, with the High Court of Hong Kong ordering the withdrawal of a winding-up petition on November 1, 2023[67] - The group is facing foreign exchange risks primarily related to transactions settled in SGD, with no significant operational difficulties reported due to currency fluctuations during the reporting period[57]

香港交易及結算所有限公司和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的任何損失承擔任何責任。 Trendzon Holdings Group Limited 卓航控股集團有限公司 (於開曼群島註冊成立的有限公司) (股 份 代 號:1865) 二零二三年中期業績公告 卓航控股集團有限公司(「本公司」)董事會(「董事會」)欣然公佈本公司及其附屬公司 (「本集團」)截至二零二三年九月三十日止六個月的未經審核業績。本公告載有本 公司二零二三年中期報告全文,符合香港聯合交易所有限公司(「聯交所」)證券上市 規則有關隨附中期業績初步公告資料的相關規定。未經審核簡明綜合中期財務報表 已經本公司審核委員會審閱。 承董事會命 卓航控股集團有限公司 主席 馮嘉敏 香港,二零二三年十一月三十日 於本公告日期,董事會包括執行董事馮嘉敏女士、徐源華先生、駱嘉豪先生及方恒 輝先生;以及獨立非執行董事石峻松先生、邱越先生、雷冠源先生及胡啟騰先生。 《》卓航控股集團 Trendzon Holdings Group Limite ...

Financial Performance - The group recorded a loss of approximately 2.1 million SGD for the fiscal year 2023, compared to a profit of approximately 1.0 million SGD in fiscal year 2022[15]. - Total revenue from the lending business for fiscal year 2023 was approximately 566,000 SGD, an increase from approximately 397,000 SGD in fiscal year 2022[9]. - The group's total gross profit decreased from approximately 9.9 million SGD in fiscal year 2022 to approximately 7.4 million SGD in fiscal year 2023, with a gross margin decline from 16.7% to 12.3%[17]. - The total revenue for the fiscal year 2023 was SGD 60,103,000, representing an increase from SGD 59,099,000 in 2022[84]. - Gross profit for 2023 was SGD 7,419,000, down from SGD 9,861,000 in 2022, indicating a decline in profitability[84]. - The company reported a loss attributable to owners of the company of SGD 1,227,000 for 2023, compared to a profit of SGD 1,846,000 in 2022[84]. - The comprehensive loss for 2023 was SGD 2,777,000, compared to a comprehensive income of SGD 725,000 in 2022[84]. - The cost of sales for 2023 was SGD 52,684,000, which is higher than SGD 49,238,000 in 2022, indicating rising operational costs[84]. Assets and Liabilities - Trade receivables and other receivables increased by approximately 3.9 million SGD to about 29.6 million SGD as of March 31, 2023[3]. - The group's borrowings decreased by approximately 17.3 million SGD to about 28.2 million SGD as of March 31, 2023, primarily due to the repayment of previously issued bonds[6]. - The group’s net current assets increased to approximately 47.0 million SGD as of March 31, 2023, compared to approximately 39.1 million SGD as of March 31, 2022[24]. - The group’s asset-liability ratio decreased from approximately 119% to about 58% due to reduced borrowings and completion of equity financing activities[24]. - The total assets increased to SGD 120,353,000 in 2023 from SGD 103,132,000 in 2022, reflecting a growth of approximately 16.5%[85]. - Total liabilities rose to SGD 64,205,000 in 2023 compared to SGD 61,964,000 in 2022, showing an increase of about 2%[85]. - The equity total for 2023 was SGD 56,148,000, up from SGD 41,168,000 in 2022, marking a significant increase of approximately 36.4%[85]. Business Development and Acquisitions - The group completed the acquisition of 85% of the issued share capital of 富滙證券有限公司 for 14 million HKD on December 23, 2022, to diversify its business portfolio[20]. - The company completed the acquisition of 85% of the issued share capital of Jianquan for HKD 14,000,000, enhancing its entry into the financial services sector and diversifying revenue sources[39]. - The company plans to utilize SGD 11.0 million for the development and maintenance of smart parking lots in 24 towns in Guizhou Province, China, by December 31, 2023[35]. - The establishment of a joint venture, 卓航頤安, with a 51% stake by the company, aims to diversify business and expand revenue sources through precious metals trading and investment services[38]. - The acquisition of Zhongshan Jiantaiying Electric Appliance Manufacturing Co., Ltd. is expected to enhance the company's production capabilities in mold and pipe fittings[51]. - The company aims to enhance its market position in the pipeline construction industry and explore new business opportunities in various geographical locations[104]. Revenue Sources and Growth - Revenue growth was primarily driven by new water pipeline projects related to district cooling systems, which contributed approximately SGD 9.4 million, and an increase of about SGD 6.1 million from water pipeline supply and laying projects[95]. - Revenue from gas pipeline projects decreased by approximately SGD 2.2 million, while revenue from water pipeline projects increased by approximately SGD 15.8 million[121]. - The company secured 2 new gas projects and 5 new water projects in fiscal year 2023, with a total contract value of approximately SGD 129.1 million[109]. - Other income increased from approximately SGD 4.2 million in fiscal year 2022 to approximately SGD 6.2 million in fiscal year 2023, primarily due to an increase in agency income[102]. - The company has ongoing projects with a total contract value of approximately SGD 148.0 million, of which about SGD 34.2 million has been recognized as revenue[113]. Operational Challenges and Strategies - The company is focusing on expanding its market presence and enhancing its project pipeline to drive future growth[98]. - There are ongoing efforts to address operational cost increases and improve project management to mitigate losses in future fiscal periods[98]. - The company is exploring new strategies for business development, including potential collaborations and partnerships in the construction sector[98]. - Future outlook remains cautious due to ongoing global supply chain challenges affecting the construction industry[98]. - The management team has extensive experience in various sectors, which is expected to drive future growth and market expansion initiatives[76]. Sustainability and Environmental Impact - The total energy consumption decreased by 27.4% to 7,528,388 kWh in 2023 compared to 10,363,702 kWh in 2022[163]. - The company reported a 33.1% reduction in electricity consumption, down to 165,841 kWh from 247,778 kWh in the previous year[163]. - The total greenhouse gas emissions amounted to 1,931.5 tons in 2023, with direct emissions (Scope 1) accounting for 95.3%[155]. - Nitrogen oxides emissions were recorded at 5,304.0 kg, representing 90.8% of total emissions[154]. - The company has implemented various measures to reduce gasoline and diesel consumption, which are the main sources of greenhouse gas emissions[156]. - The group is committed to improving its sustainability practices and reducing overall emissions, focusing on minimizing gas emissions from construction sites[183]. - The group has established communication channels with stakeholders to gather feedback on environmental, social, and governance issues[176]. - The board plays a key role in overseeing environmental, social, and governance issues, ensuring management has the necessary tools and resources[175]. Employee and Governance - Employee compensation is generally above market average, with regular reviews based on business growth and market price levels[170]. - The employee composition shows that 74% are from India, 12% from Singapore, and 8% from Malaysia, with no employees in mainland China[173]. - The company has adopted a shareholder communication policy to enhance two-way communication with shareholders[134].

香港交易及結算所有限公司和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的任何損失承擔任何責任。 1 Trendzon Holdings Group Limited 卓航控股集團有限公司 (於開曼群島註冊成立的有限公司) (股 份 代 號:1865) 截至二零二三年三月三十一日止年度 全年業績公告 卓航控股集團有限公司(「本公司」,連同其附屬公司統稱「本集團」)董事(「董事」)會 (「董事會」)欣然宣佈截至二零二三年三月三十一日止年度(「二零二三財年」)本集 團的綜合經審核業績,連同截至二零二二年三月三十一日止年度(「二零二二財年」) 的比較數字,由本公司審核委員會(「審核委員會」)審閱,並已於二零二三年六月 三十日獲董事會批准。 財務摘要 | | 二零二三年 | 二零二二年 | |----------------------------------------------|----------------|--------------| | | 千坡元 | 千坡元 | | 收入 | 60,103 | ...