China Next-Gen Commerce and Supply Chain Limited 中國新零售供應鏈集團有限公司 (formerly known as S&T Holdings Limited) （前稱 S&T Holdings Limited ） (Incorporated in the Cayman Islands with limited liability) ) ( 於開曼群島註冊成立的有限公司 (Stock Code 股份代號: 3928) N OT IF IC ATI ON LET TE R 通 知 信 函 Dear Non-registered Shareholder(Note 1) 24 January 2025 本公司的本次公司通訊文件的中、英文版本已上載於本公司網站 www.singtec.com.sg 及香港交易及結算所有限公司網站（「香港交易所網站」） www.hkexnews.hk（「網站版本」），本公司建議 閣下閱覽本公司本次及日後公司通訊( 附 註 2)的網站版本。 如 閣下欲收取本次公司通訊文件之印刷本，請填妥在本函背面的申請表格，並使用隨附之郵寄標籤經寶德隆證券 ...

N OT IF IC ATI ON LET TE R 通 知 信 函 Dear Registered Shareholder, 中國新零售供應鏈集團有限公司 (formerly known as S&T Holdings Limited) （前稱 S&T Holdings Limited ） (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立的有限公司 ) China Next-Gen Commerce and Supply Chain Limited (Stock Code 股份代號: 3928) 中國新零售供應鏈集團有限公司(「本公司」) –年報 2024、通函、股東週年大會通告及代表委任表格（「本次公司通訊文件」）之發佈通知 本公司的本次公司通訊文件的中、英文版本已上載於本公司網站 www.singtec.com.sg 及香港交易及結算所有限公司網站（「香港交易所網站」） www.hkexnews.hk（「網站版本」），本公司建議 閣下閱覽本公司本次及日後公司通訊 （附註 1） 的網站版本。 China Next ...

茲通告中國新零售供應鏈集團有限公司（「本公司」））謹訂於二零二五年三月十四 日（星期五）上午十一時正假座16 Kian Teck Way, Singapore 628749舉行股東週年大會，以 便處理下列事項： – 1 – 1. 省覽、考慮及採納本公司截至二零二四年九月三十日止年度之經審核財務報 表、董事會報告及獨立核數師報告。 2. (A) 重選何志康先生為本公司執行董事； (B) 重選張天德先生為本公司執行董事； (C) 重選羅嘉榮先生為本公司非執行董事； (D) 重選譚德機先生為本公司獨立非執行董事； (E) 重選李濤先生為本公司獨立非執行董事； (F) 重選陳雲霞女士為本公司獨立非執行董事；及 (G) 授權本公司董事會（「董事會」）釐定董事薪酬。 3. 續聘國衛會計師事務所有限公司為本公司核數師及授權董事會釐定其薪酬。 – 2 – 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 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 中國新零售供應鏈集團有限公司 China Next-Gen Comm ...

此乃要件 請即處理 如 閣下對本通函任何方面或應採取行動存有任何疑問，應向 閣下的股票經紀或其他註冊證 券商、銀行經理、律師、專業會計師或其他專業顧問進行諮詢。 如 閣下已出售或轉讓名下所有中國新零售供應鏈集團有限公司（「本公司」）股份，應立即將本 通函連同隨附代表委任表格交予買方或承讓人，或送交經手買賣的銀行、股票經紀或其他代理商， 以便轉交買方或承讓人。 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通函的內容概不負責，對其準確性 或完整性不發表任何聲明，並明確表示概不就因本通函全部或任何部分內容而產生或因依賴該 等內容而引致的任何損失承擔任何責任。 中國新零售供應鏈集團有限公司 China Next-Gen Commerce and Supply Chain Limited （股份代號：3928） （前稱 S&T Holdings Limited ） （於開曼群島註冊成立的有限公司） 發行及購回股份的一般授權、 重選退任董事 及 股東週年大會通告 本 公 司 謹 訂 於 二 零 二 五 年 三 月 十 四 日（星 期 五）上 午 十 一 時 正 假 座16 Kian Teck Way, Singa ...

Financial Performance - The company's revenue for the fiscal year ending September 30, 2024, was approximately SGD 56.0 million, a slight decrease from SGD 56.1 million in the previous year, indicating stability in a challenging environment[15]. - Total revenue for the fiscal year ending September 30, 2024, is approximately SGD 56.0 million, a slight decrease of about SGD 0.1 million or 0.2% from SGD 56.1 million for the previous fiscal year[29]. - Gross profit increased from approximately SGD 3.8 million for the fiscal year ending September 30, 2023, to approximately SGD 4.8 million for the fiscal year ending September 30, 2024, reflecting improved cost control on construction projects[29]. - Net loss decreased from approximately SGD 1.0 million for the fiscal year ending September 30, 2023, to approximately SGD 0.8 million for the fiscal year ending September 30, 2024, primarily due to increased gross profit and gross margin[29]. - Other income rose from approximately SGD 0.2 million to approximately SGD 0.3 million, primarily due to an increase in rental income from leased equipment[37]. - Other gains and losses decreased from approximately SGD 3.3 million to approximately SGD 0.8 million, mainly due to a reduction in net gains from the sale of properties, plants, and equipment[38]. - Administrative expenses increased from approximately SGD 5.7 million to approximately SGD 6.0 million, primarily due to an increase in professional fees[40]. - The group's net loss for the year decreased by approximately SGD 0.2 million or 20.0%, from approximately SGD 1.0 million to approximately SGD 0.8 million[46]. - As of September 30, 2024, the group's cash and cash equivalents amounted to approximately SGD 6.1 million, down from SGD 8.3 million as of September 30, 2023[52]. - The debt-to-equity ratio improved to approximately 68.3% as of September 30, 2024, compared to 69.7% as of September 30, 2023, due to a decrease in bank borrowings[53]. - The company has approximately SGD 7.7 million available for distribution to shareholders, down from SGD 8.5 million as of September 30, 2023[177]. - The board has decided not to recommend a final dividend for the year ending September 30, 2024, consistent with the previous year[179]. Construction Industry Outlook - Singapore's construction demand is projected to increase by approximately 20.02% from SGD 341.6 million in 2023 to SGD 410.0 million in 2024, driven by government initiatives and infrastructure investments[14]. - The company maintains a cautiously optimistic outlook for profit recovery and business growth, anticipating a resurgence in the construction industry in the medium to long term[15]. - The outlook for the construction industry remains cautiously optimistic despite inflationary pressures on materials, labor, and subcontracting costs[20]. - The construction industry in Singapore recorded a year-on-year growth of 3.7% in 2023, driven by increased public sector construction output[19]. - The Building and Construction Authority forecasts total construction demand in 2024 to be between SGD 32 billion and SGD 38 billion, with the public sector accounting for approximately 55%[20]. Company Strategy and Operations - The company aims to enhance its technical capabilities and financial management to strengthen competitiveness and productivity[15]. - The company plans to enhance productivity and technical capabilities to strengthen its core business strategy and improve competitiveness[24]. - The company has identified a strategy to build a portfolio of investment properties to create a stable income source and mitigate risks associated with the construction industry[63]. - The company is focused on developing new technologies and products to enhance its operational capabilities and market position[81]. - The company plans to continue its market expansion efforts and explore potential mergers and acquisitions to strengthen its competitive edge[81]. - The main business activities include construction services, property investment, and logistics related to construction materials, with no significant changes reported for the year ending September 30, 2024[168]. Corporate Governance - The company has adhered to the corporate governance code as per the listing rules, ensuring compliance for the year ending September 30, 2024[110]. - The company emphasizes long-term sustainable growth and value creation for shareholders through effective corporate governance structures[109]. - The independent non-executive directors are responsible for providing independent judgment on strategy, performance, resources, and ethical standards[101]. - The company has a commitment to maintaining high standards of corporate governance, adopting all provisions of the corporate governance code as part of its regular practices[110]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse governance structure[112]. - The board has reviewed the effectiveness of the corporate governance code compliance and risk management systems during the year[112]. - The company has established a remuneration committee to review and approve the remuneration policies for directors and senior management, ensuring transparency and alignment with market practices[127]. - The nomination committee is responsible for evaluating the board's structure and recommending suitable candidates for board positions, ensuring a diverse and skilled board composition[133]. - The company has adopted the standard code of conduct for securities trading by directors, confirming full compliance throughout the year[126]. Risk Management - The company has a strong focus on risk assessment and management, enhancing its understanding of opportunities and challenges in the market[109]. - The board has confirmed its responsibility to maintain an effective risk management and internal control system, which is reviewed annually for effectiveness[154]. - The group has implemented written policies and procedures to define authorization limits, aiding in the effective separation of duties and control[154]. - The company has engaged external consultants to perform internal audit functions and assess the effectiveness of the risk management and internal control systems[154]. - The company has established measures to mitigate identified risks, aiming to manage rather than eliminate risks associated with achieving business objectives[151]. - The board has acknowledged the major risks and uncertainties faced by the group, detailed in the management discussion and analysis section of the annual report[182]. Human Resources - The company has a total of 184 employees as of September 30, 2024, with total employee costs amounting to approximately 8.2 million SGD, compared to 8.1 million SGD for the previous year[69]. - As of September 30, 2024, the gender ratio within the company's workforce is 93% male and 7% female[150]. - The board currently consists of five male directors and one female director, which the board considers sufficient for gender diversity[149]. - The company is committed to providing equal employment, training, and career development opportunities to all qualified employees[150]. Shareholder Matters - The company completed the sale of 360 million shares for a total cash consideration of 100 million HKD, representing 75.0% of its issued share capital[75]. - Following the completion of the share sale, the buyer holds approximately 78.4% of the company's issued share capital[76]. - The net proceeds from the share placement amounted to approximately HKD 86.3 million (equivalent to about SGD 15.2 million) after deducting listing expenses[81]. - The company has utilized all of the net proceeds from the share placement by September 30, 2024, with allocations including HKD 36.4 million for strengthening the group's financial position and HKD 36.3 million for enhancing the fleet[81]. - The company has no predetermined dividend payout ratio, allowing the board discretion in declaring dividends based on various financial factors[178]. Board Changes - The company changed its name from "S&T Holdings Limited" to "China Next-Gen Commerce and Supply Chain Limited," effective from December 31, 2024[82]. - The board of directors saw a change with the resignation of an independent non-executive director and the appointment of a new independent non-executive director to enhance gender diversity[86]. - The company appointed Mr. Luo Jia Rong as a non-executive director on September 25, 2024, bringing 9 years of experience in finance and management consulting[96]. - Mr. Tan De Ji, appointed as an independent non-executive director on September 25, 2024, has over 30 years of professional accounting experience and previously served as a financial director at an international law firm for 9 years[97]. - The company has appointed new executive directors, effective September 25, 2024, including Mr. He Zhikang and Mr. Zhang Tiande[122]. - Independent non-executive directors have been appointed with terms starting from September 25, 2024, for a duration of three years[137].

Financial Performance - Total revenue for the year ended September 30, 2024, was SGD 55,973,576, a slight decrease of 0.15% from SGD 56,055,638 in the previous year[5] - Gross profit increased to SGD 4,799,091, up 26.1% from SGD 3,805,646 in the previous year[5] - Other income rose significantly to SGD 341,780, compared to SGD 190,683 in the previous year, marking an increase of 79.3%[5] - Net loss for the year was SGD 784,153, an improvement from a loss of SGD 1,037,111 in the previous year[5] - Basic and diluted loss per share improved to SGD (0.16) from SGD (0.22) in the previous year[5] - The group reported a pre-tax loss of SGD 784,153 for 2024, an improvement from a loss of SGD 1,277,218 in 2023[31] - The group's net loss decreased primarily due to an increase in gross profit and gross margin, attributed to improved cost control in ongoing projects and higher profit margins from other ancillary services[62] - The net loss for the fiscal year ending September 30, 2024, is approximately 0.8 million SGD, a reduction from 1.0 million SGD in the previous year[61] - The net loss for the year decreased by approximately SGD 0.2 million or 20.0%, from approximately SGD 1.0 million for the year ended September 30, 2023, to approximately SGD 0.8 million for the year ending September 30, 2024[89] Revenue Breakdown - Total revenue from customer contracts for the year 2024 is SGD 55,467,476, a slight decrease of 0.22% from SGD 55,588,818 in 2023[20] - Revenue from construction services, including civil engineering, is SGD 51,993,643, up 7.7% from SGD 48,157,252 in 2023[20] - Rental income from property investments increased to SGD 506,100 from SGD 466,820, representing an 8.4% growth[20] - The total amount allocated to remaining performance obligations for civil engineering contracts is SGD 122,903,243, down 8.2% from SGD 133,804,879 in 2023[25] Assets and Liabilities - Trade receivables increased to SGD 7,961,984, a substantial rise of 77.8% from SGD 4,475,803 in the previous year[7] - Total current assets reached SGD 40,316,981, up from SGD 35,814,822, reflecting a growth of 12.5%[7] - Current liabilities increased to SGD 35,184,100, compared to SGD 27,323,859 in the previous year, representing a rise of 28.5%[7] - Non-current assets, including property, plant, and equipment, increased to SGD 11,819,158, up from SGD 11,213,368[7] Cash Flow and Financing - As of September 30, 2024, the group had cash and bank balances of approximately SGD 6.1 million, down from approximately SGD 8.3 million as of September 30, 2023[93] - The debt-to-equity ratio as of September 30, 2024, was approximately 68.3%, a decrease from 69.7% as of September 30, 2023, primarily due to a reduction in bank borrowings[93] - The group had total bank borrowings, including bank overdrafts and lease liabilities, of approximately SGD 18.6 million as of September 30, 2024, compared to approximately SGD 19.5 million as of September 30, 2023[93] - Financing costs decreased from approximately SGD 1.0 million for the year ended September 30, 2023, to approximately SGD 0.9 million for the year ending September 30, 2024, mainly due to a reduction in bank borrowings[85] Employee and Administrative Costs - Total employee costs, including directors' remuneration, rose from 8,129,452 SGD in 2023 to 8,218,378 SGD in 2024[47] - Administrative expenses increased from approximately SGD 5.7 million for the year ended September 30, 2023, to approximately SGD 6.0 million for the year ending September 30, 2024, primarily due to an increase in professional fees of about SGD 0.3 million[83] - The total employee cost for the year was approximately SGD 8.2 million, compared to SGD 8.1 million for the previous year[155] - The company employed 184 staff as of September 30, 2024, compared to 183 staff a year earlier[155] Investments and Property - The group aims to continuously build a portfolio of investment properties to create a stable and sustainable income source and mitigate risks associated with the construction industry[131] - As of September 30, 2024, the total investment cost for major properties held by the group is SGD 8,123,594, with a fair value of SGD 11,460,000, representing 16.5% of the group's total assets[102] - The fair value of the property at 21 Toh Guan Road East is SGD 1,650,000, which accounts for 2.4% of the group's total assets[102] - The residential property at 45 Hillview Avenue has a fair value of SGD 2,480,000, representing 3.6% of the group's total assets[102] - The property at 11 Kang Choo Bin Road has a fair value of SGD 1,770,000, accounting for 2.5% of the group's total assets[102] Corporate Governance and Changes - The company will change its English name to "China Next-Gen Commerce and Supply Chain Limited" effective December 31, 2024[136] - Mr. Chen Guorong resigned as an independent non-executive director effective November 29, 2024, and Ms. Chen Yunxia was appointed to enhance gender diversity[171] - The company has not engaged in any significant post-period events after September 30, 2024[153] - The company confirmed that there are no competitive interests held by its controlling shareholders or their close associates in businesses that may directly or indirectly compete with the group as of September 30, 2024[165] Future Outlook - The group anticipates a cautious optimism regarding profit recovery and business growth due to high-interest rates and inflationary pressures on materials, labor, and subcontracting costs[64] - The company has no significant future plans for major investments or capital assets as of September 30, 2024[154] - The group plans to enhance productivity, strengthen technical capabilities, and improve team skills to reinforce its core business strategy and competitive advantage[64]

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依 賴該等內容而引致的任何損失承擔任何責任。 中國新零售供應鏈集團有限公司 China Next-Gen Commerce and Supply Chain Limited （股份代號：3928） （前稱 S&T Holdings Limited ） （於開曼群島註冊成立的有限公司） 更改公司名稱及 更改股份簡稱 茲提述中國新零售供應鏈集團有限公司（前稱S&T Holdings Limited）（「本公司」） 日期為二零二四年十月二日的公告及本公司日期為二零二四年十月十六日的 通函（「該通函」），內容有關建議更改本公司名稱，以及本公司日期為二零二四 年十一月六日的公告，內容有關於二零二四年十一月六日舉行的股東特別大 會的投票表決結果。本公告所用詞彙與該通函所界定者具有相同涵義。 更改公司名稱 董事會欣然宣佈，股東在於二零二四年十一月六日舉行的股東特別大會上通 過批准建議更改公司名稱的特別決議案。開曼群島公司註冊處處長已於二零 二 四 年 十 一 月 八 ...

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依 賴該等內容而引致的任何損失承擔任何責任。 中國新零售供應鏈集團有限公司 China Next-Gen Commerce and Supply Chain Limited 中國新零售供應鏈集團有限公司 主席兼執行董事 何志康 香港，二零二四年十二月十二日 於本公告日期，董事會包括兩名執行董事何志康先生及張天德先生；一名非執行董事羅嘉榮 先生；及三名獨立非執行董事李濤先生、譚德機先生及陳雲霞女士。 （股份代號：3928） （前稱 S&T Holdings Limited ） （於開曼群島註冊成立的有限公司） 董事會會議日期 中國新零售供應鏈集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此 宣佈將於二零二四年十二月二十七日（星期五）舉行董事會會議，藉以審議及 批准（其中包括）本公司及其附屬公司截至二零二四年九月三十日止年度之全 年業績以及派付末期股息（如有）。 承董事會命 ...

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依 賴該等內容而引致的任何損失承擔任何責任。 S&T Holdings Limited （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號︰3928） (1)獨立非執行董事變動； (2)董事委員會成員變動；及 (3)遵守上市規則第13.92條 本公告由S&T Holdings Limited（「本公司」）根據香港聯合交易所有限公司（「聯交 所」）證券上市規則（「上市規則」）第13.51(2)條而作出。 獨立非執行董事辭任 本公司董事（「董事」）會（「董事會」）謹此宣佈，自二零二四年十一月二十九日 起，陳國榮先生（「陳先生」）因其他業務承擔辭任獨立非執行董事、本公司薪酬 委員會（「薪酬委員會」）主席、本公司審核委員會（「審核委員會」）成員及本公 司提名委員會（「提名委員會」）成員。 陳先生已確認，彼與董事會並無任何事宜之意見分歧，亦無有關其辭任之其他 事宜須敦請本公司股東（「股東」）及╱或聯交所垂注。 董事會就陳先生於任期內對本公 ...

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依 賴該等內容而引致的任何損失承擔任何責任。 | | （附註） 特別決議案 | 票數(%) | | 是否獲 | | --- | --- | --- | --- | --- | | | | 贊成 | 反對 | 股東通過 | | 1. | 待開曼群島公司註冊處處長批准後， | 376,310,050 | 0 | 是 | | | | (100)% | (0)% | | | | (i) 本 公 司 英 文 名 稱 由「S&T Holdings | | | | | | Limited」 更 改 為「China Next-Gen | | | | | | Commerce and Supply Chain Limited」， | | | | | | 並 採 納「中 國 新 零 售 供 應 鏈 集 團 有 限 | | | | | | 公 司」為 本 公 司 的 中 文 雙 重 外 文 名 稱 | | | | | | （統稱「更改公司名稱」）；及 | | | | – 1 ...