6月3日，截至港股收盘，恒生指数上涨1.53%，报23512.49点。万马控股（06928.HK）收报0.225港元/ 股，上涨134.38%，成交量1683.2万股，成交额301.52万港元，振幅100.0%。 资料显示，万马控股有限公司主要于新加坡从事乘用车皮革内饰业务及电子配件业务。根据Frost & Sullivan报告,于2016年,公司是新加坡领先内饰改装务供应商(就销售收益而言),市场份额为16.3%。于 2016年,本集团于新加坡乘用车皮革内饰及电子配件行业均排首位(就销售收益而言)。就公司的皮革内饰 业务而言,公司为乘用车车座供应及安装定制皮革内饰。公司亦为其他乘车内部产品(如车门面板、头枕 及扶手)提供皮革包装。公司的电子配件业务分为两个分部,即(i)道航及多媒体配件:及(ii)安全及安防配 件。道航及多媒体配件分部主要集中供应及安装导航系统、音响主机及车内娱乐系统等产品,而安全及 安防配件分部主要集中供应及安装提升驾驶员及乘客安全及安防性的产品,例如数字视频录像机、倒车 摄像头及停车雷达及安全警报系统。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） ...

Financial Performance - The company reported a revenue decrease of approximately 68.8% for the year, with a reported loss of about SGD 2,630,000, compared to a loss of SGD 10,582,000 in the previous year[12]. - Total revenue for the year was approximately SGD 2,831,000, a decrease of about 68.8% compared to SGD 9,071,000 in the previous year, primarily due to a 96.5% drop in automotive parts and vehicle sales[15]. - The net loss for the year was approximately SGD 2,630,000, significantly reduced from a loss of SGD 10,582,000 in the previous year, marking a decrease of 75.1%[21]. - Other income, gains, and losses increased from approximately SGD 603,000 to about SGD 731,000, driven by foreign exchange gains and increased rental income from investment properties[17]. - Selling and distribution expenses decreased from approximately SGD 505,000 to about SGD 482,000, primarily due to reduced travel costs[18]. - Administrative expenses were reduced from approximately SGD 4,622,000 to about SGD 3,864,000, mainly due to lower employee benefits, legal and professional fees, and travel expenses[19]. - The investment in Ocean Dragon Group was fully impaired, resulting in a loss of SGD 6,421,491, as the company could not obtain sufficient records to assess the investment's value[22]. - The company reported a total distributable reserve of approximately SGD 2,422,000 as of December 31, 2024, down from approximately SGD 3,512,000 in 2023[126]. Business Strategy and Operations - The gross profit increased by approximately 122.1%, despite the significant decline in automotive parts sales and the suspension of automotive sales and trading operations[12]. - The company has suspended its automotive business in Singapore due to low gross margins and will focus on supplying automotive parts and installation services to customers[13]. - The company plans to explore providing more pre-inspection center technologies and administrative services to customers[13]. - The company aims to strengthen its market position as a leading supplier in Singapore by enhancing operational efficiency and providing excellent customer service[14]. - The company recognizes the importance of resilience and adaptability in light of global economic uncertainties and will closely monitor market trends and consumer preferences[14]. - The company remains committed to achieving its strategic goals and aims to reduce risks while seizing opportunities for long-term success in the industry[14]. - The increase in gross profit was attributed to a shift towards higher-margin electronic accessory sales and a reduction in lower-margin automotive parts sales[16]. Management and Governance - The company has a strong management team with diverse backgrounds in finance, investment, and corporate governance, enhancing its strategic planning capabilities[54]. - The management team emphasizes the importance of financial management and corporate governance in driving the company's growth strategy[55]. - The company is focused on leveraging its experienced directors to enhance operational efficiency and explore new business opportunities[53]. - The board of directors includes members with significant experience in auditing, financial management, and corporate governance, ensuring robust oversight[54]. - The company is committed to maintaining high standards of corporate governance and transparency in its operations[55]. - The board composition includes a new chairman, Mr. Lu Yongde, appointed on July 22, 2024, following the removal of Ms. Ma Xiaoqiu as executive director on March 19, 2024[67]. - The company faced a temporary non-compliance issue with the minimum number of independent non-executive directors but rectified this by appointing Ms. Li Jiayao, restoring compliance with relevant listing rules[68]. - The company has established appropriate insurance coverage for legal actions against directors[70]. Risk Management - The company is facing challenges in obtaining complete and accurate financial records from Ocean Dragon Group, impacting the audit process and financial reporting[25]. - The audit committee supports the management's plan to file for the bankruptcy of the seller, Mr. Tsang, to obtain formal evidence needed to confirm the investment's termination[31]. - The company faces foreign exchange risk, with a potential impact of SGD 315,000 on after-tax losses if foreign currencies depreciate or appreciate by 10%[45]. - The board is responsible for overseeing the overall risk management and ensuring effective internal controls and financial performance monitoring[66]. - The company aims to identify and manage inherent risks in its operations, including environmental, social, and governance risks, to reduce or mitigate these risks[96]. - The risk register is updated at least annually to reflect new or removed risks, ensuring proactive risk management[98]. - No significant internal control deficiencies were found by the audit committee and board for the year ending December 31, 2024, indicating the effectiveness of the risk management system[102]. Corporate Social Responsibility and Sustainability - The company has committed to sustainable growth while considering environmental, social, and governance factors in its business development and management strategies[63]. - The environmental, social, and governance report outlines the company's commitment to sustainable development[177]. - The group integrates the United Nations Sustainable Development Goals (UNSDGs) into its overall ESG strategy, aiming to create long-term value for stakeholders while contributing to global sustainable development[198]. - The group emphasizes employee health and safety, implementing comprehensive policies and procedures to ensure workplace safety and risk management[199]. - The group is committed to promoting gender equality and eliminating discrimination, ensuring equal opportunities and diversity in the workplace[199]. - Regular reviews of ESG goals and performance are conducted to ensure compliance with relevant laws and regulations[189]. Shareholder Communication and Rights - The company is committed to maintaining effective communication with shareholders and timely disclosure of relevant information[107]. - The board can convene a special general meeting upon request from shareholders holding at least 10% of the paid-up capital[108]. - Shareholders have the right to make written inquiries to the company secretary regarding their rights and interests[110]. - The company has maintained effective communication channels with shareholders, including annual general meetings and regular updates on financial performance[111]. Board Committees and Meetings - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined terms of reference[86]. - The Audit Committee held 5 meetings during the year ending December 31, 2024, to review and approve the annual financial performance for the year ending December 31, 2023[88]. - The Nomination Committee conducted 2 meetings during the year ending December 31, 2024, to review board composition and propose recommendations for board changes[90]. - The Remuneration Committee held 2 meetings during the year ending December 31, 2024, to review the remuneration policies and performance evaluations of directors and senior management[94]. - The board held six meetings during the fiscal year ending December 31, 2024, to review and approve financial and operational performance[79].

Financial Performance - Total revenue for the year ended December 31, 2024, was SGD 2,831,000, a decrease of 68.8% compared to SGD 9,071,000 in 2023[3] - Gross profit increased to SGD 933,000, representing a 122.1% increase from SGD 420,000 in the previous year, with a gross margin of 32.9% compared to 4.6% in 2023[3] - The net loss for the year was SGD 2,630,000, a significant reduction of 75.1% from a loss of SGD 10,582,000 in 2023[3] - The company reported a total loss before tax of SGD 2,630,030 in 2024, compared to a loss of SGD 10,410,191 in 2023, indicating an improvement in financial performance[26] - The basic and diluted loss per share for 2024 was SGD 0.58, down from SGD 2.35 in 2023, reflecting a reduction in losses[32] Assets and Liabilities - Cash and cash equivalents decreased by 40.7% to SGD 4,929,000 from SGD 8,317,000 in 2023[3] - Total assets decreased by 23.4% to SGD 11,210,000 from SGD 14,638,000 in 2023[3] - Total liabilities decreased by 57.4% to SGD 592,000 from SGD 1,389,000 in 2023[3] - Total equity decreased by 19.9% to SGD 10,619,000 from SGD 13,249,000 in 2023[3] - The total assets of the company decreased to SGD 11,210,366 in 2024 from SGD 14,637,793 in 2023, a decline of approximately 23.5%[23] - The total liabilities decreased to SGD 591,794 in 2024 from SGD 1,389,191 in 2023, representing a reduction of about 57.5%[23] Revenue Segmentation - The total revenue for the automotive leather interior segment in 2024 was SGD 515,357, compared to SGD 515,021 in 2023, showing a slight increase[22] - The total revenue for the automotive electronic components segment increased significantly to SGD 2,071,094 in 2024 from SGD 1,577,178 in 2023, representing a growth of approximately 31.4%[22] - The total revenue for automotive parts and vehicles was SGD 244,323 in 2024, a substantial increase from SGD 6,970,125 in 2023, indicating a shift in revenue sources[22] - The overall total revenue for the company in 2024 was SGD 2,830,774, down from SGD 9,071,257 in 2023, reflecting a decline of approximately 68.8%[22] Cost Management - Employee benefits expenses decreased to SGD 3,961,679 in 2024 from SGD 4,612,157 in 2023, reflecting cost management efforts[26] - Sales and distribution expenses decreased from approximately SGD 505,000 to about SGD 482,000, a reduction of about SGD 23,000[45] - Administrative expenses decreased from approximately SGD 4,622,000 to about SGD 3,864,000, a reduction of about SGD 758,000[46] - Total employee costs, including directors' remuneration, amounted to approximately SGD 3,962,000 for the year, down from SGD 4,612,000 in 2023[53] Compliance and Reporting Standards - The company has applied new International Financial Reporting Standards, which did not have a significant impact on financial performance[9] - The application of IFRS 18 is anticipated to affect future financial statements but will not impact the group's financial position and performance significantly[13] - The group is currently assessing the specific impact of IFRS 18 on its consolidated financial statements[13] - The board of directors expects that the adoption of other new IFRS standards will not have a significant impact on the consolidated financial statements in the foreseeable future[11] - The independent auditor's report indicates that the consolidated financial statements reflect the group's financial position as of December 31, 2024, in accordance with International Financial Reporting Standards[70] Market Conditions and Challenges - The group faced challenges due to the ongoing US-China trade war and a weak consumer confidence environment, impacting business performance[38] - The significant decline in vehicle sales was primarily due to reduced demand for internal combustion engine vehicles compared to electric vehicles from China[42] - The group noted a slight increase in new car sales and demand in Singapore for 2024, despite economic uncertainties[38] Dividends and Shareholder Information - The group did not declare or propose any dividends for the years ending December 31, 2024, and 2023[31] - The board of directors did not recommend the payment of a final dividend for the year[59] - The annual general meeting is scheduled for June 13, 2025, with a registration suspension from June 10 to June 13, 2025, to determine shareholder voting rights[67][68] Investments and Acquisitions - The company holds a 49% stake in Ocean Dragon Group, with an investment cost of SGD 6,421,491, primarily engaged in providing electric vehicle charging solutions[71] - Due to insufficient accounting records from Ocean Dragon Group, the company confirmed a loss of SGD 6,421,491, fully written off as an investment loss in the consolidated income statement for the year ended December 31, 2023[71] - The group had no significant acquisitions or disposals of subsidiaries and associates during the year[54] Risk Management - The group faced foreign exchange risk primarily due to transactions in currencies other than Singapore dollars, with a potential impact of SGD 315,000 on after-tax losses if foreign currencies depreciated or appreciated by 10%[56] - There were no significant contingent liabilities noted by the directors during the year[58]

Financial Performance - Total revenue for the year ended December 31, 2024, was SGD 2,831,000, a decrease of 68.8% compared to SGD 9,071,000 in 2023[3] - Gross profit increased to SGD 933,000, representing a 122.1% increase from SGD 420,000 in the previous year, with a gross margin of 32.9% compared to 4.6% in 2023[3] - The net loss for the year was SGD 2,630,000, a significant reduction of 75.1% from a loss of SGD 10,582,000 in 2023[3] - The company reported a total loss before tax of SGD 2,630,030 in 2024, compared to a loss of SGD 10,410,191 in 2023, reflecting an improvement in financial performance[26] - The basic and diluted loss per share for 2024 was SGD 0.58, down from SGD 2.35 in 2023, reflecting a reduction in losses[32] Assets and Liabilities - Cash and cash equivalents decreased by 40.7% to SGD 4,929,000 from SGD 8,317,000 in the previous year[3] - Total assets decreased by 23.4% to SGD 11,210,000 from SGD 14,638,000 in 2023[3] - Total liabilities decreased by 57.4% to SGD 592,000 from SGD 1,389,000 in the previous year[3] - Total equity decreased by 19.9% to SGD 10,619,000 from SGD 13,249,000 in 2023[3] - The total assets of the company decreased from SGD 14,637,793 in 2023 to SGD 11,210,366 in 2024, a reduction of approximately 23.5%[23] - The company’s cash and cash equivalents decreased significantly from SGD 8,317,344 in 2023 to SGD 4,928,607 in 2024, a decline of about 40.5%[23] - The company’s total liabilities decreased from SGD 1,389,191 in 2023 to SGD 591,794 in 2024, a reduction of approximately 57.5%[23] Business Segments - The company continues to focus on the sales and installation of automotive leather interiors and electronic accessories, as well as the sale of electronic and automotive parts[7] - Total revenue for the automotive leather interior segment in 2024 was SGD 515,357, compared to SGD 515,021 in 2023, showing a slight increase[22] - The automotive electronic components segment generated revenue of SGD 2,071,094 in 2024, up from SGD 1,577,178 in 2023, representing a growth of approximately 31.3%[22] Employee and Operational Costs - The company reported a significant increase in employee benefits expenses, totaling SGD 3,961,679 in 2024, compared to SGD 4,612,157 in 2023[26] - Total employee costs, including director remuneration, were approximately SGD 3,962,000 for the year, down from SGD 4,612,000 in 2023[53] - Sales and distribution expenses decreased from approximately SGD 505,000 to about SGD 482,000, a reduction of about SGD 23,000[45] - Administrative expenses decreased from approximately SGD 4,622,000 to about SGD 3,864,000, a reduction of about SGD 758,000[46] Financial Reporting and Compliance - The company has implemented new international financial reporting standards, which did not have a significant impact on financial performance[9] - The group is evaluating the impact of new IFRS standards on its financial reporting and is committed to ensuring compliance with the latest accounting regulations[11][13] - The independent auditor's report indicates that the financial statements for the year ending December 31, 2024, reflect the group's financial position accurately, except for certain reservations[69] - The audit committee has reviewed the consolidated financial statements for the year ended December 31, 2024, and confirmed compliance with applicable accounting standards and legal requirements[75] - The financial reporting process has been reviewed and supervised by the audit committee[75] Governance and Management - The board of directors is composed of experienced individuals who regularly meet to discuss operational issues to ensure effective governance[65] - The company is committed to acting in the best interests of its shareholders and will continue to evaluate necessary changes to its governance structure[65] - The company adhered to all corporate governance rules as of December 31, 2024, except for the separation of the roles of Chairman and CEO[64] Market Conditions and Challenges - The group faced challenges due to the ongoing US-China trade war and a weak consumer confidence environment, impacting overall business performance[38] - The number of new car registrations in Singapore is expected to see a slight increase in 2024, following a higher quota compared to 2023[38] Investments and Impairments - The group holds a 49% stake in Ocean Dragon Group, with an investment cost of SGD 6,421,491, which has been fully written off due to insufficient accounting records[71] - The previous independent auditor expressed concerns regarding the lack of complete and accurate records from Ocean Dragon Group, impacting the ability to audit financial data[72] - The company confirmed a loss of SGD 6,421,491 related to its investment in Ocean Dragon Group, recorded in the consolidated income statement for the year ending December 31, 2023[71] Future Outlook - The board anticipates sufficient resources for the group to continue as a going concern in the foreseeable future[14] - The management recognizes the importance of resilience and adaptability in response to market trends and consumer preferences[40] - The company aims to enhance operational efficiency and provide excellent customer service to achieve long-term success in the industry[41]

萬馬控股有限公司 TOMO Holdings Limited (Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立之有限公司) Stock Code 股份代號 : 6928 2 0 2 4 f T E R M R E P 0 F 目錄 | --- | --- | |----------------------|-------| | | | | | | | 公司資料 | | | 概要 | | | 未經審核中期業績 | | | 簡明合併全面收入表 | | | 簡明合併資產負債表 | | | 簡明合併權益變動表 | | | 簡明合併現金流量表 | | | 簡明合併財務資料附註 | | 管理層討論與分析 23 企業管治及其他資料 28 公司資料 董事會 執行董事 盧永德先生（主席） （於2024年7月22日獲委任） 子辰先生 馬小秋女士（主席） （於2024年3月19日被罷免） 非執行董事 蔡丹義先生 劉心藝女士（於2024年3月19日被罷免） 陳君女士（於2024年3月19日被罷免） 呂秋佳女士（於2024年3月19日被罷免） 獨立 ...

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 全部或任何部份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。 TOMO HOLDINGS LIMITED 萬 馬 控 股 有 限 公 司 (股份代號：6928) （於開曼群島註冊成立的有限公司） 截 至2024年6月30日止六個月 中期業績公告 | --- | --- | |-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | 概 要 | | | • | 截 至 2024 年 6 月 30 日 止 六 個 月，本 集 團 未 經 審 ...

Financial Performance - The company reported a revenue decrease of approximately 44.5% for the fiscal year ending December 31, 2023, compared to the previous year[15]. - Gross profit decreased by approximately 54.6%, resulting in a reported loss of about SGD 10,582,000, compared to a loss of SGD 1,870,000 in the previous year[15]. - Total revenue for the year ended December 31, 2023, was approximately SGD 9,071,000, a decrease of 44.5% compared to SGD 16,340,000 in 2022[18]. - Gross profit decreased by approximately SGD 505,000 or 54.6% to SGD 420,000, primarily due to a 49.0% decline in automotive parts and vehicle sales[19]. - The company reported a net loss of approximately SGD 10,582,000 for the year, compared to a loss of SGD 1,870,000 in the previous year, representing an increase of 465.9%[26]. - Other income increased from approximately SGD 158,000 to SGD 207,000, mainly due to higher rental income from investment properties[20]. - Administrative expenses rose from approximately SGD 2,965,000 to SGD 4,622,000, an increase of about 55.9%, driven by higher employee benefits and travel costs[25]. - The impairment of investment in Ocean Dragon Group Limited amounted to approximately SGD 6,421,491, reflecting concerns over the recoverability of the investment[29]. - The company reported a total distributable reserve of approximately SGD 3,512,000 as of December 31, 2023, down from approximately SGD 5,167,000 in 2022[149]. - The board does not recommend a final dividend for the year, consistent with the previous year[141]. Market Conditions - The decline in new vehicle registrations in Singapore significantly impacted the company's leather interior and electronic accessories divisions, leading to reduced profit margins and sales[15]. - The quota for new vehicle ownership certificates in Singapore was reduced from approximately 90,000 annually in 2018 and 2019 to about 30,000 to 40,000 from 2020 to 2023, contributing to increased ownership certificate prices[14]. - Ownership certificate prices increased by over 100% from 2022 to 2023, reaching a peak in the second half of 2023, which adversely affected demand for mass-market vehicles[14]. - The Singapore government raised import duties on high-end vehicles, with the maximum rate increasing from 220% to 320% for vehicles valued over SGD 80,000, further impacting the automotive accessories business[14]. - Business and consumer confidence continued to weaken, significantly affecting the company's current performance[15]. Strategic Outlook - The company remains optimistic and is actively exploring new opportunities despite the challenging operating environment[11]. - The company is focusing on its existing business objectives in Singapore while considering growth prospects[11]. - The company emphasizes the importance of resilience and adaptability in navigating market trends and consumer preferences to identify emerging opportunities[17]. - Management plans to implement effective cost control measures and maintain strong relationships with key suppliers to strengthen market position[17]. Governance and Management - The management team expressed gratitude to shareholders, customers, suppliers, and business partners for their continued support during challenging times[11]. - The company has appointed Mr. Zicheng as an executive director, who has over 16 years of experience in financial investment, capital operations, corporate governance, strategic planning, and mergers and acquisitions[58]. - Mr. Cai, appointed as a non-executive director, has over 15 years of experience in corporate finance, accounting, and auditing, and has handled multiple IPOs and M&A transactions[59]. - Mr. Zheng, appointed as an independent non-executive director, has over 15 years of experience in auditing, financial management, and company secretarial matters[60]. - The company is actively expanding its board with experienced professionals to enhance governance and strategic oversight[61]. - The company has a focus on corporate governance and strategic planning, as evidenced by the diverse backgrounds of its board members[62]. - The board currently has 4 male directors, which does not meet the minimum requirement of gender diversity as per listing rules[86]. - The company aims to appoint at least one qualified female candidate to the board within three months starting from March 19, 2024[86]. - The board has adopted a diversity policy to ensure a balanced mix of skills, experience, and perspectives among its members[82]. - The company has established service contracts for both executive and non-executive directors with an initial term of three years[77]. Risk Management - The group faced foreign exchange risk, with a potential impact of SGD 347,000 on after-tax losses if foreign currencies depreciated or appreciated by 10% against the Singapore dollar[50]. - The group aims to identify and manage inherent risks in its business and operational markets, including environmental, social, and governance risks[107]. - The board is responsible for maintaining a sound internal control system, with management tasked with designing and implementing this system[110]. - The risk management framework was adjusted in 2023 to enhance the identification, assessment, and prioritization of risks[111]. - The effectiveness of the risk management framework will be evaluated at least annually, with regular management meetings to update on risk monitoring progress[112]. Compliance and Internal Controls - The company has implemented measures to ensure compliance with legal and regulatory requirements, as well as adherence to corporate governance codes[95]. - The auditor issued a qualified opinion on the consolidated financial statements for the year ended December 31, 2023, due to lack of sufficient audit evidence regarding the financial information of the group's associates[119]. - The company has updated its accounting policies to address identified internal control deficiencies[118]. - The company has no internal audit function but will continue to engage external independent experts to review internal controls and risk management annually[122]. - The company’s compliance policies ensure adherence to applicable laws and regulations, with no known significant non-compliance issues reported for the year[146]. Shareholder Communication - The company is committed to maintaining effective communication with shareholders and potential investors, providing timely disclosures of relevant information[128]. - The company has established various communication channels with shareholders, including annual general meetings and regular updates on financial performance and strategic direction[133]. - The company will suspend the transfer of shares registration from June 25, 2024, to June 28, 2024, to determine eligibility for the upcoming annual general meeting[197]. - The auditor's report for the consolidated financial statements has been reviewed by the current auditor, and a resolution will be proposed at the annual general meeting for their reappointment[198].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 TOMO HOLDINGS LIMITED 萬 馬 控 股 有 限 公 司 (股份代號：6928) （於開曼群島註冊成立的有限公司） 截 至2023年12月31日止年度 全年業績公告 財務概要 | | | 截 至12月31日止年度 | | | | --- | --- | --- | --- | --- | | 新 加 坡 | 元（千） | 2023年 | 2022年 | 變 動 | | 收 益 | | 9,071 | 16,340 | (44.5%) | | 毛 利 | | 420 | 925 | (54.6%) | | 毛利率 | | 4.6% | 5.7% | (19.3%) | | 年內虧損 | | (10,582) | (1,870) | 465.9% | | | | 於12月 ...

Financial Performance - Total revenue for the year ended December 31, 2023, was SGD 9,071,257, a decrease of 44.5% compared to SGD 16,340,186 in 2022[3] - Gross profit for the same period was SGD 420,395, down 54.6% from SGD 925,492 in the previous year, resulting in a gross margin of 4.6%[3] - The company reported a net loss of SGD 10,582,191 for the year, a significant increase of 465.9% from a loss of SGD 1,869,568 in 2022[5] - The company reported a pre-tax loss of SGD 10,410,191 in 2023, compared to a pre-tax loss of SGD 2,054,729 in 2022, indicating a significant increase in losses[30] - The company experienced a revenue decline of approximately 44.5% and a gross profit decrease of about 54.6% in 2023, primarily due to a sharp drop in new car registrations in Singapore[42] - The net loss for the year was approximately SGD 10,582,000, compared to a loss of SGD 1,870,000 in the previous year, representing an increase of 465.9%[54] Assets and Liabilities - Total assets decreased by 41.4% to SGD 14,637,793 from SGD 24,976,553 in the previous year[7] - Total liabilities rose by 21.2% to SGD 1,389,191 compared to SGD 1,145,760 in 2022[9] - Total equity decreased by 44.4% to SGD 13,248,602 from SGD 23,830,793 in the previous year[7] - The company reported a total asset value of SGD 14,637,793 in 2023, down from SGD 24,976,553 in 2022, a decrease of 41.2%[30] - The company’s trade payables rose to SGD 909,936 in 2023 from SGD 200,395 in 2022, reflecting increased liabilities[36] Cash Flow and Investments - Cash and cash equivalents increased by 18.5% to SGD 8,317,344 from SGD 7,015,867 in 2022[3] - The company had cash and cash equivalents of SGD 8,317,344 as of December 31, 2023, compared to SGD 7,015,867 in 2022, showing an increase of 18.6%[30] - The investment property rental income increased to SGD 170,700 in 2023 from SGD 138,200 in 2022, an increase of 23.4%[30] - The net proceeds from the share issuance amounted to approximately SGD 10,300,000, with a portion of the funds' usage being revised[60] - The remaining proceeds from the listing have been fully utilized by the end of the fiscal year 2023[63] Employee and Operational Costs - Employee benefits cost rose to SGD 4,612,157 in 2023, up from SGD 3,250,795 in 2022, representing an increase of 41.9%[25] - Administrative expenses rose by approximately SGD 1,657,000 to SGD 4,622,000, primarily due to increased employee benefits and travel expenses[53] - Employee costs for the year ended December 31, 2023, amounted to approximately 4,612,000 Singapore dollars, an increase from 3,251,000 Singapore dollars in 2022[65] - The total number of employees as of December 31, 2023, was 48, a slight decrease from 49 in 2022[64] Business Operations and Strategy - The company continues to focus on its core business of selling and installing automotive leather interiors and electronic accessories[12] - Future strategies may include market expansion and potential new product development, although specific details were not disclosed in the report[12] - The group operates in three main business segments: (i) passenger vehicle leather interiors; (ii) passenger vehicle electronic components; and (iii) automotive parts and vehicles, primarily supplying to distributors and dealers in Singapore and Hong Kong[16] - The company plans to implement effective cost control measures and maintain strong relationships with key suppliers to strengthen its market position in Singapore[44] - The company is aware of the importance of resilience and adaptability in the current economic climate and aims to identify emerging opportunities[44] Regulatory and Compliance - The group has adopted new International Financial Reporting Standards (IFRS) effective from January 1, 2023, including IFRS 17 related to insurance contracts, without significant impact on financial performance[14] - The group has not early adopted any IFRS amendments that are published but not yet effective, and it is expected that these will not have a significant impact on the group's performance and financial position[15] - The consolidated financial statements for the year ended December 31, 2023, have been reviewed and deemed compliant with applicable accounting standards and regulations[90] - The company has adhered to all corporate governance codes as of December 31, 2023[80] Risks and Challenges - The company faces challenges due to high vehicle registration costs, which have increased by over 100% since 2020, affecting consumer purchasing behavior[40] - The company faces significant risks, including reliance on major customers and market conditions affecting vehicle sales, which could impact financial performance[56] - The independent auditor's report indicates a potential impact on the financial statements due to reliance on incomplete financial records from the Ocean Dragon Group Limited[83] Shareholder Information - The board does not recommend the payment of a final dividend for the year[72] - The annual general meeting is scheduled for June 28, 2024[81] - The company will suspend the transfer of share registration from June 25 to June 28, 2024, to ensure shareholder voting rights[82]

Interim Report 2023 中期報告 目錄 | 公司資料 | 2 | | --- | --- | | 概要 | 4 | | 未經審核中期業績 | 5 | | 簡明合併全面收入表 | 5 | | 簡明合併資產負債表 | 6 | | 簡明合併權益變動表 | 7 | | 簡明合併現金流量表 | 8 | | 簡明合併財務資料附註 | 9 | | 管理層討論與分析 | 24 | | 企業管治及其他資料 | 29 | 公司資料 董事會 執行董事 馬小秋女士 （主席） 子辰先生（於2023年4月11日獲委任） 薪酬委員會 鄭偉禧先生 （主席） （於2023年5月17日獲委任） 李潔瑩女士 （主席） （於2023年5月17日退休） 馬小秋女士 金來林先生 王俊文先生（於2023年2月1日辭任） 王眾民先生（於2023年2月1日辭任） 彭鵬先生 非執行董事 劉心藝女士 陳君女士（於2023年2月1日獲委任） 王俊文先生 （副主席） （於2023年2月1日辭任） 呂秋佳女士 蔡丹義先生（於2023年4月11日獲委任） 獨立非執行董事 金來林先生 李潔瑩女士（於2023年5月17日退休） 王眾民先生（於2023年2月1 ...