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 2022, 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 loss of SGD 2,054,729 in 2022[30]. - 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 in loss of 465.9%[46][54]. - Other income increased from approximately SGD 158,000 to SGD 207,000, mainly due to increased rental income from investment properties[50]. - Administrative expenses rose from approximately SGD 2,965,000 to SGD 4,622,000, primarily due to increased employee benefits, vehicle expenses, and travel costs[53]. Assets and Liabilities - Cash and cash equivalents increased by 18.5% to SGD 8,317,344 from SGD 7,015,867 in the previous year[3]. - Total assets decreased by 41.4% to SGD 14,637,793 from SGD 24,976,553 in 2022[7]. - Total liabilities rose by 21.2% to SGD 1,389,191 compared to SGD 1,145,760 in the previous year[9]. - Total equity decreased by 44.4% to SGD 13,248,602 from SGD 23,830,793 in 2022[7]. - Current assets as of December 31, 2023, were approximately SGD 8,127,000, down from SGD 12,787,000 in 2022, with a current ratio of 6.9 times compared to 12.6 times in the previous year[57]. - The company’s trade payables rose to SGD 909,936 in 2023 from SGD 200,395 in 2022, reflecting increased obligations to suppliers[36]. - Trade receivables increased significantly to SGD 465,006 in 2023 from SGD 142,224 in 2022, indicating a substantial rise in outstanding payments[33]. - The company’s other receivables decreased to SGD 171,551 in 2023 from SGD 212,732 in 2022, indicating a reduction in various outstanding claims[33]. Business Operations - The company continues to engage in the sale and installation of automotive leather interiors and electronic accessories, as well as the sale of electronic components and automotive parts[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]. - Major customer contributions included SGD 1,691,214 from Customer 1 and SGD 6,306,770 from Customer 2, totaling SGD 7,997,984, down from SGD 14,779,786 in 2022[23]. - The cost of goods sold was SGD 7,450,926 in 2023, significantly lower than SGD 14,168,055 in 2022[25]. - The company incurred employee benefits costs of SGD 4,612,157 in 2023, an increase from SGD 3,250,795 in 2022[25]. - The company plans to implement effective cost control measures and maintain strong relationships with key suppliers to strengthen its market position in Singapore[44]. Market Conditions - 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 number of new car ownership certificates issued in Singapore decreased significantly from approximately 90,000 per month in 2018-2019 to about 30,000-40,000 annually from 2020 to 2023, impacting vehicle demand[40]. - The company noted that the high prices of ownership certificates have led to a substantial decline in demand for mass-market vehicles, with prices increasing over 100% compared to 2020 and 2021[40]. - The significant increase in net loss was attributed to a decline in vehicle sales due to reduced quotas for new car registrations and increased import duties on luxury vehicles[58]. - The company faces multiple business risks, including reliance on major customers and market conditions affecting vehicle sales, which could significantly impact financial performance[56]. Compliance and Governance - 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 or disclosures[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 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]. - The investment in the joint venture with Ocean Dragon Group Limited has been fully impaired, amounting to SGD 6,421,491[85]. - The audit committee has been established and consists of two independent non-executive directors, with a commitment to review financial reporting processes[89]. - 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 is committed to full disclosure as per the requirements of the listing rules and applicable laws[90]. Future Outlook - The company is aware of the importance of resilience and adaptability in the current economic climate and aims to identify emerging opportunities by closely monitoring market trends and consumer preferences[44]. - The group has implemented effective policies to maintain operational liquidity and cash flow amid ongoing economic challenges[61]. - The remaining proceeds from the listing have been fully utilized by the end of the fiscal year 2023[63]. - The total number of employees as of December 31, 2023, was 48, a slight decrease from 49 in 2022[64]. - 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].

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]

Financial Performance - For the six months ended June 30, 2023, the group's unaudited revenue was approximately SGD 7,900,000, an increase of about SGD 3,605,000 or 83.9% compared to SGD 4,295,000 for the same period in 2022[6]. - The group recorded an unaudited loss of approximately SGD 8,018,000 for the six months ended June 30, 2023, compared to an unaudited loss of SGD 688,000 for the same period in 2022[6]. - Basic and diluted loss per share for the six months ended June 30, 2023, was 1.78 Singapore cents, compared to 0.15 Singapore cents for the same period in 2022[6]. - The company reported a net loss of SGD 8,018,031 for the six months ended June 30, 2023, compared to a net loss of SGD 687,620 for the same period in 2022, indicating a significant increase in losses[15]. - The company reported a total loss before tax of SGD (8,018,031) for the six months ended June 30, 2023, compared to SGD (687,620) in the same period of 2022[30]. - Gross profit decreased by approximately 27.7% to about SGD 308,000, with a gross margin dropping from 9.9% to 3.9% due to increased logistics costs for imported vehicles[72]. Assets and Liabilities - The total assets as of June 30, 2023, were SGD 16,540,603, a decrease from SGD 24,976,553 as of December 31, 2022[11]. - The group's total equity decreased to SGD 15,812,762 as of June 30, 2023, from SGD 23,830,793 as of December 31, 2022[11]. - The total liabilities as of June 30, 2023, were SGD 727,841, a decrease from SGD 1,145,760 as of December 31, 2022[11]. - The company's total equity decreased from SGD 25,700,361 at the beginning of 2022 to SGD 15,812,762 by June 30, 2023, reflecting a decline in retained earnings due to accumulated losses[15]. - The company's investment properties were valued at SGD 3,300,000 as of June 30, 2023, unchanged from the previous valuation[32]. - Trade receivables increased significantly to SGD 504,311,000 as of June 30, 2023, compared to SGD 142,224,000 as of December 31, 2022, reflecting a growth of 254%[50]. Cash Flow and Investments - Cash and bank balances increased to SGD 10,728,679 as of June 30, 2023, compared to SGD 7,015,867 as of December 31, 2022[11]. - The company recorded a net cash inflow from investing activities of SGD 5,071,237 for the six months ended June 30, 2023, compared to a net cash outflow of SGD 307,878 in the prior year[15]. - Cash and cash equivalents increased by SGD 3,712,812 during the first half of 2023, ending the period at SGD 10,728,679, compared to SGD 20,125,671 at the end of June 2022[15]. - The remaining net proceeds from the IPO amount to approximately SGD 390,000, which will be utilized for operational flexibility in the current unstable business environment[84]. Expenses - Employee benefits cost for the six months ended June 30, 2023, was SGD 2,030,249, up from SGD 1,424,959 in 2022, marking a 42.5% increase[41]. - Administrative expenses increased to approximately SGD 1.9 million, up about SGD 734,000, driven by higher employee benefits, vehicle expenses, and legal and professional fees[78]. - Sales and distribution expenses increased to approximately SGD 228,000, up about SGD 21,000, mainly due to rising employee benefits and travel costs[77]. - The total cash outflow for leases for the six months ended June 30, 2023, was SGD 34,350, down from SGD 64,666 in 2022[46]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial results and confirmed compliance with applicable accounting standards and legal requirements[120]. - The company has adhered to the corporate governance code and standards as of June 30, 2023, ensuring the protection of shareholder interests[116]. - The company has not declared or paid any dividends since its incorporation, and no dividends are recommended for the six months ended June 30, 2023[42][43]. Market and Operational Challenges - The company anticipates continued challenges in business operations due to ongoing COVID-19 impacts and rising operational costs, affecting future performance[70]. - The company continues to face various financial risks, including market risk, credit risk, and liquidity risk, which are not fully disclosed in the interim financial information[21]. Employee and Shareholder Information - The group had 47 employees as of June 30, 2023, a decrease from 49 employees as of December 31, 2022[90]. - The shareholding of Ms. Ma Xiaoqiu is 230,000,000 shares, representing approximately 51.11% of the company[105]. - The company has issued 450,000,000 shares with a total share capital of SGD 793,357,000 as of June 30, 2023[57].

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 （於開曼群島註冊成立的有限公司） (股份代號：6928) 有 關2022年 年 報 之 補 充 公 告 謹此提述萬馬控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）截至2022 年12月31日止年度之年度報告（「2022年年報」）。本公告是對2022年年報的補充， 並應與2022年年報一併閱讀。除另有說明者外，本公告所用詞彙與2022年年報 所界定者具有相同涵義。 本公司謹對2022年年報所載管理層討論與分析「本集團持有的重大投資」章節 的披露提供補充信息。 截至2022年12月31日止年度，本公司以35百萬港元（相當於約6.4百萬新加坡元） 的代價收購Ocean Dragon Group Limited及其附屬公司（主要從事提供充電解決方 案）的49%已發行股本（「投資」）。投資入賬列為於聯營公司之投資，於2022年 ...

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 （於開曼群島註冊成立的有限公司） (股份代號：6928) 截 至2023年6月30日 止 六 個 月 中 期 業 績 公 告 概要 • 截至2023年6月30日止六個月，本集團未經審核收益約為7,900,000新加坡 元，較截至2022年6月30日止六個月的未經審核收益約4,295,000新加坡元 增加約3,605,000新加坡元或83.9%。 • 截至2023年6月30日止六個月，本集團未經審核虧損約為8,018,000新加坡 元，而截至2022年6月30日止六個月則錄得未經審核虧損約為688,000新 加坡元。 • 截至2023年6月30日止六個月，每股基本及攤薄虧損為1.78新加坡仙，而 截至2022年6月30日止六個月每股基本及攤薄虧損為0.15新加坡仙。 ...

Financial Performance - The company reported revenue of approximately SGD 16.34 million for the year ended December 31, 2022, an increase of about SGD 6.63 million or 68.3% compared to SGD 9.71 million in the previous year[9]. - The company incurred a loss of approximately SGD 1.87 million for the year ended December 31, 2022, compared to a profit of approximately SGD 0.12 million in the previous year, primarily due to a 45.0% decrease in revenue from the passenger car leather segment and a 39.8% decrease in the passenger car electronic accessories segment[9][14]. - Gross profit decreased by approximately SGD 643,000 or 41.0% to about SGD 925,000, with a gross margin of 5.7% compared to 16.1% in the previous year[25]. - Other income decreased to approximately SGD 158,000 from SGD 855,000, primarily due to a lack of consulting income and reduced government support related to COVID-19[26]. - The company reported a total distributable reserve of approximately SGD 5,167,000 as of December 31, 2022, down from SGD 6,285,000 in 2021[115]. - The company’s cash flow situation, profitability stability, and long-term investment needs were discussed as key factors influencing future cash requirements[119]. Market Conditions - The total number of new registered passenger cars in Singapore decreased by approximately 14,500 units or 31.9% compared to the previous year, impacting sales and demand for new vehicles[13]. - The company anticipates a gradual economic recovery amid geopolitical tensions and trade uncertainties, with consumer confidence expected to remain weak[10]. Business Strategy and Development - The company plans to continue focusing on its existing business objectives in Singapore and Hong Kong while exploring new opportunities, particularly in the Web 3.0 metaverse[10]. - The company aims to enhance sales and marketing efforts to better position itself in the market[18]. - The company is focusing on developing and launching more tools for cryptocurrency and AI-generated content, such as the digital avatar CHATwo for smart communication[20]. - The company has launched an e-commerce platform in October 2020 and upgraded its existing server and implemented a new enterprise resource planning system[22]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all relevant provisions as of December 31, 2022[60]. - The board consists of a minimum of three independent non-executive directors, with at least one possessing appropriate professional qualifications or accounting expertise[64]. - The company ensures compliance with legal and regulatory requirements through regular reviews of governance policies[75]. - The board has established three committees: audit, remuneration, and nomination, each with defined terms of reference[79]. Risk Management - The board is responsible for overseeing and managing overall risks related to the company's business, implementing risk assessment and prevention measures[88]. - The group faces foreign exchange risk primarily due to transactions in currencies other than Singapore dollars, with a potential impact of SGD 280,000 on net profit if foreign currencies fluctuate by 10%[44]. Employee and Stakeholder Engagement - Employee costs for the year ended December 31, 2022, totaled approximately SGD 3,251,000, an increase from SGD 2,643,000 in 2021[39]. - The company emphasizes a commitment to employee development, workplace safety, diversity, and sustainable development[61]. - The company encourages feedback on its sustainability practices, indicating a commitment to transparency and stakeholder engagement[173]. Sustainability and ESG Initiatives - TOMO is committed to sustainable business practices, aiming to create long-term value for stakeholders through ESG initiatives[176]. - The company has established a governance framework for ESG, with the board overseeing related activities and responsibilities[178]. - The company aims to align its goals with the United Nations Sustainable Development Goals to address environmental, social, and economic challenges[198]. - Employee health and safety is prioritized, with comprehensive policies and procedures in place to ensure a safe working environment[199]. Shareholder Information - The company has received approval for a secondary listing on the Frankfurt Stock Exchange, with shares trading under the ticker "5WZ" while maintaining its primary listing on the Hong Kong Stock Exchange[13]. - The board does not recommend the payment of a final dividend for the year, consistent with the previous year[47]. - The annual general meeting is scheduled for May 17, 2023[156].

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 （於開曼群島註冊成立的有限公司） （股份代號：6928) 截至 年 月 日止年度 2022 12 31 全年業績公告 財務概要 截至12月31日止年度 新加坡元（千） 2022年 2021年 變動 收益 16,340 9,710 68.3% 毛利 925 1,568 (41.0%) 毛利率 5.7% 16.1% (64.6%) 年內（虧損）╱溢利 (1,870) 118 (1,684.7%) 於12月31日 新加坡元（千） 2022年 2021年 變動 ...

Financial Performance - For the six months ended June 30, 2022, the group's unaudited revenue was approximately SGD 4,295,000, an increase of about SGD 327,000 or 8.3% compared to SGD 3,968,000 for the same period in 2021[20]. - The group recorded an unaudited loss of approximately SGD 688,000 for the six months ended June 30, 2022, compared to an unaudited profit of approximately SGD 255,000 for the same period in 2021[20]. - Basic and diluted loss per share for the six months ended June 30, 2022, was 0.15 Singapore cents, compared to a profit of 0.06 Singapore cents for the same period in 2021[20]. - The company reported a net loss attributable to owners of SGD (687,620) for the six months ended June 30, 2022, compared to a profit of SGD 255,041 in the same period last year[69]. - The company’s total revenue for the first half of 2022 was SGD 11,621,120, down from SGD 12,190,709 in the first half of 2021, reflecting a decline of approximately 4.7%[30]. - Total revenue for the six months ended June 30, 2022, was approximately SGD 4,295,000, an increase of SGD 327,000 or 8.3% compared to SGD 3,968,000 for the corresponding period[107]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to SGD 26,005,712, a decrease from SGD 26,338,722 as of December 31, 2021[24]. - The company’s total assets as of June 30, 2022, were SGD 25,012,741, compared to SGD 25,582,330 as of June 30, 2021, indicating a decrease of about 2.2%[30]. - The group’s total liabilities as of June 30, 2022, were SGD 992,971, an increase from SGD 638,361 as of December 31, 2021[24]. - The total liabilities increased to SGD 992,971 from SGD 1,594,148 in the previous year, showing a reduction of about 37.8%[56]. - Trade receivables as of June 30, 2022, amounted to SGD 356,049,000, a significant increase from SGD 201,593,000 as of December 31, 2021[96]. - Contract liabilities increased substantially to SGD 468,400,000 as of June 30, 2022, compared to SGD 180,600,000 as of December 31, 2021, due to early billing for vehicle sales[96]. Expenses - Selling and distribution expenses increased to SGD 206,810 for the six months ended June 30, 2022, compared to SGD 144,253 for the same period in 2021[22]. - Administrative expenses rose to SGD 1,134,970 for the six months ended June 30, 2022, compared to SGD 848,936 for the same period in 2021[22]. - Total cost of sales, selling and distribution expenses, and administrative expenses reached SGD 5,210,594, up from SGD 3,797,789, indicating a growth of approximately 37.2%[63]. - Employee benefits costs increased to SGD 1,424,959 from SGD 1,136,437, reflecting a rise of about 25.4% year-over-year[66]. - Total employee costs amounted to approximately SGD 1,425,000, an increase from SGD 1,136,000 in the previous year[127]. Cash Flow - Operating cash flow before tax loss was SGD (687,620) for the first half of 2022, a decrease from SGD 350,033 in the first half of 2021[30]. - The company experienced a net cash outflow from operating activities of SGD 90,169 for the first half of 2022, compared to a cash outflow of SGD (39,541) in the same period of 2021[30]. - Total cash and cash equivalents at the end of June 30, 2022, were SGD 20,125,671, a decrease from SGD 20,566,327 at the end of June 30, 2021[30]. - The company’s cash and cash equivalents were reported at SGD 20,125,671, a decrease from SGD 20,566,327 in the previous year, reflecting a decline of approximately 2.1%[56]. Segment Performance - The segment loss before tax for the passenger car leather interior division was SGD (50,294) compared to a profit of SGD 63,288 in the previous year, indicating a significant decline in performance[52]. - The segment loss before tax for the automotive parts and vehicles division was SGD (417,410), compared to a profit of SGD 76,493 in the previous year, indicating a substantial decline in profitability[52]. - The company’s total revenue from the sale and installation of goods in the passenger car electronic accessories segment was SGD 3,015,577, compared to SGD 668,007 in the previous year, marking a significant increase of approximately 351.5%[56]. Government Support and Other Income - The group reported other income of SGD 72,172 for the six months ended June 30, 2022, down from SGD 159,961 for the same period in 2021[22]. - The company received government subsidies totaling SGD 3,546 under the wage support scheme, down from SGD 13,195 in the previous year, indicating a reduction of about 73.1%[59]. - Other income decreased from approximately SGD 160,000 to SGD 72,000, primarily due to reduced government subsidies related to COVID-19[111]. - Other gains increased by SGD 136,000 to approximately SGD 157,000, mainly from foreign exchange gains[112]. Corporate Governance and Compliance - The company has complied with the corporate governance code as of June 30, 2022, and up to the report date[154]. - The Audit Committee has been established in accordance with Listing Rule 3.21 and consists of three independent non-executive directors, chaired by Ms. Li Jieying[160]. - The Audit Committee reviewed the unaudited consolidated results for the six months ended June 30, 2022, and confirmed compliance with applicable accounting standards and legal requirements[160]. - The company has ensured full disclosure of its financial reporting processes and internal control systems as per the Audit Committee's responsibilities[160]. Future Outlook - The company anticipates facing greater challenges in the future due to geopolitical uncertainties and ongoing impacts from the COVID-19 pandemic[105]. - The company plans to continue focusing on operational goals and marketing strategies to achieve better performance in the future[106]. - The company remains committed to providing innovative products and quality services to customers[106].

Financial Performance - For the year ended December 31, 2021, the group recorded revenue of approximately SGD 9.71 million, an increase of about SGD 3.53 million compared to approximately SGD 6.19 million for the year ended December 31, 2020[9]. - The profit attributable to shareholders decreased by approximately SGD 55,000 to about SGD 118,000, compared to approximately SGD 173,000 for the year ended December 31, 2020[9]. - Revenue from the passenger car leather segment decreased by approximately 32.7%[9]. - Revenue from the passenger car electronic accessories segment decreased by approximately 24.8%[9]. - The group's revenue for the year ended December 31, 2021, was approximately SGD 9.71 million, an increase of about 57.0% compared to SGD 6.19 million in the previous year[29]. - Gross profit decreased by approximately 15.7% to SGD 1.57 million from SGD 1.86 million, resulting in a gross margin of 16.1%, down from 30.1% in the prior year[29][33]. - Net profit attributable to shareholders decreased by approximately 31.8% to SGD 118,000 from SGD 173,000 in the previous year[29][38]. - Other income increased to approximately SGD 855,000 from SGD 438,000, primarily related to consulting income[34]. - Selling and distribution expenses rose to approximately SGD 413,000 from SGD 378,000, mainly due to increased employee benefits costs[36]. - Administrative expenses increased to SGD 1.94 million from SGD 1.54 million, driven by higher employee benefits and professional fees[37]. - The total employee cost for the year ended December 31, 2021, was approximately SGD 2,643,000, up from SGD 2,475,000 in 2020[48]. - The company reported a distributable reserve of approximately SGD 6,285,000 as of December 31, 2021, compared to SGD 6,266,000 in 2020[120]. Business Strategy and Outlook - The group plans to explore new business opportunities to diversify and expand its operations, particularly in Hong Kong and mainland China[10]. - The company aims to leverage its market position in Singapore to provide innovative products and excellent services[10]. - The economic recovery is expected to be gradual, with continued weak confidence among businesses and consumers[10]. - The group has initiated new businesses in automotive parts and vehicle trading, as well as business consulting services to mitigate the challenging business environment[9]. - The company anticipates that the global COVID-19 pandemic will soon end, benefiting Singapore's economy, especially with an increase in new passenger car registrations[10]. - Future outlook indicates the company expects to face greater challenges due to geopolitical uncertainties and ongoing impacts of the COVID-19 pandemic, but remains confident in its resilience and ability to find opportunities for future success[28]. Governance and Compliance - The company appointed several independent non-executive directors on July 21, 2021, including Mr. Wang Junwen, Ms. Lu Qiujia, Ms. Li Jieying, Mr. Jin Lailin, and Mr. Wang Zhongmin, enhancing its governance structure[61][63][64][70]. - The board of directors has complied with the listing rules, ensuring at least three independent non-executive directors, with one possessing appropriate professional qualifications in accounting or related financial management[72]. - The company has established service contracts for its executive directors with an initial term of three years, while non-executive directors have a one-year term, promoting stability in leadership[73]. - The company has adopted a set of securities trading conduct rules for directors, ensuring compliance with the standards set forth in the listing rules[69]. - The board is responsible for overseeing and managing overall risks related to the company's business, aiming for successful strategic guidance and supervision[68]. - The company has arranged appropriate insurance coverage for legal actions against directors, safeguarding its leadership[73]. - The independent non-executive directors confirmed their independence in accordance with the listing rules, ensuring unbiased oversight[72]. - The company has a structured rotation policy for directors, requiring one-third of the board to retire at each annual general meeting, promoting accountability[73]. - The company has adopted the corporate governance code as per the listing rules, demonstrating its commitment to high governance standards[68]. - The board has empowered the management team with appropriate authority and responsibilities to drive the company's overall strategy and daily management[68]. - The board of directors held 4 regular meetings during the year ended December 31, 2021, to review and approve financial and operational performance[78]. - The audit committee held 3 meetings during the year ended December 31, 2021, to consider and approve the annual financial performance for the year ended December 31, 2020, and the interim financial performance for the six months ended June 30, 2021[85]. - The company has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Corporate Governance Committee, each with defined terms of reference[84]. - The company has a policy to ensure compliance with legal and regulatory requirements, enhancing corporate governance awareness among directors[82]. - The board of directors has independent channels for communication with management and the company secretary to address any concerns[80]. - The Nomination Committee held one meeting during the year ended December 31, 2021, to review the composition of the Board and discuss changes to directors and senior management[88]. - The Remuneration Committee also held one meeting during the year to review the remuneration and benefits of executive directors and made recommendations to the Board[91]. - The auditor's fees for the year amounted to approximately SGD 80,000 for audit services, with no non-audit services provided[100][101]. Shareholder Relations - The company is committed to maintaining effective communication with shareholders and potential investors, holding annual general meetings to provide updates on financial performance and business developments[102]. - The company has a clear process for shareholders to request special general meetings, requiring at least 10% of the paid-up capital to submit a written request[104]. - The board does not recommend the payment of a final dividend for the year[55]. - The board will consider factors such as cash flow, earnings stability, and future cash needs when determining dividend payments[122]. - The board does not recommend a final dividend for the year, consistent with the previous year[115]. - The company has no arrangements that would allow directors to benefit from acquiring shares or bonds of the company or any other entity[147]. - The company has confirmed compliance with the non-competition agreement established by its major shareholders, with no violations reported[155]. Environmental, Social, and Governance (ESG) - TOMO Holdings Limited primarily operates in the passenger vehicle leather interior and electronic accessories business in Singapore[167]. - The company is committed to becoming a leading integrated supplier of electronic accessories and interior products in the automotive industry in Singapore[169]. - The environmental, social, and governance (ESG) report highlights TOMO's focus on product quality and safety, supply chain management, and workplace safety during the COVID-19 pandemic[169]. - TOMO has implemented key initiatives to improve performance on significant ESG issues and aims to create long-term value for all stakeholders[169]. - The company emphasizes sustainable development as a core part of its strategic planning and management oversight[173]. - The ESG report covers TOMO-CSE Autotrim Pte Ltd's core business operations in Singapore for the fiscal year ending December 31, 2021[176]. - Stakeholder engagement includes annual performance evaluations and feedback mechanisms to address employee safety, product quality, and timely customer responses[179]. - TOMO's commitment to sustainable practices includes effective resource utilization and pollution management[172]. - The company plans to continue improving its performance on critical ESG issues in the coming years[169]. - TOMO's financial performance is linked to the value created for employees, the environment, and society[173]. - TOMO-CSE's total greenhouse gas emissions increased by 2.8% in FY2021, totaling 61.6 tons of CO2 equivalent[191]. - Scope 1 greenhouse gas emissions rose by 4% to 28.2 tons, while Scope 2 emissions increased by 1.5% to 33.3 tons[191]. - The greenhouse gas emissions density was recorded at 80.4 kg of CO2 equivalent per square meter in FY2021[191]. - TOMO-CSE did not generate any hazardous waste in FY2021 and complied with all relevant environmental laws in Singapore[193]. - The company implemented practices to reduce emissions, including regular maintenance of the fleet and optimizing travel plans[198].

Financial Performance - For the six months ended June 30, 2021, the group's unaudited revenue was approximately SGD 3,968,000, an increase of about SGD 1,367,000 or 52.6% compared to SGD 2,601,000 for the same period in 2020[10] - The group reported an unaudited profit of approximately SGD 255,000 for the six months ended June 30, 2021, compared to an unaudited loss of SGD 96,000 for the same period in 2020[10] - Basic and diluted earnings per share for the six months ended June 30, 2021, were 0.06 Singapore cents, compared to a loss of 0.02 Singapore cents for the same period in 2020[10] - The company reported a profit of SGD 255,041 for the six months ended June 30, 2021, compared to a loss of SGD 95,783 for the same period in 2020, indicating a significant turnaround[23] - The company reported a profit attributable to equity holders of SGD 255,041 for the six months ended June 30, 2021, compared to a loss of SGD 95,783 in the same period of 2020, marking a significant turnaround[62] Revenue and Profitability - Gross profit for the six months ended June 30, 2021, was SGD 1,163,230, compared to SGD 618,967 for the same period in 2020[13] - Total revenue for the six months ended June 30, 2021, was approximately SGD 3,968,000, an increase of about 52.6% compared to SGD 2,601,000 for the same period in 2020[101] - Gross profit increased by approximately SGD 544,000 or 87.9% to SGD 1,163,000 for the six months ended June 30, 2021, with a gross margin of approximately 29.3%, up from 23.8% in the prior year[102] - The segment profit for the passenger car leather interior division was SGD 63,288, compared to SGD 8,272 in the previous year, indicating a substantial increase of 664.5%[48] - The segment profit for the passenger car electronic accessories division rose to SGD 315,531 from SGD 28,491, marking an increase of 1008.5%[48] Expenses and Costs - Total operating expenses, including selling and distribution expenses and administrative expenses, decreased from SGD 1,079,114 in 2020 to SGD 993,189 in 2021[13] - Employee benefits costs decreased to SGD 1,136,437 for the six months ended June 30, 2021, down 10.4% from SGD 1,269,274 in the previous year[59] - Selling and distribution expenses decreased from SGD 203,000 to SGD 144,000, mainly due to reductions in entertainment, promotional, and travel expenses[106] - Administrative expenses decreased from SGD 876,000 to SGD 849,000, attributed to lower employee benefits and professional fees related to the company's transfer from GEM to the main board[107] - Other operating expenses increased to SGD 170,397 for the six months ended June 30, 2021, compared to SGD 101,718 in the same period of 2020[56] Assets and Liabilities - Total assets as of June 30, 2021, amounted to SGD 27,431,519, an increase from SGD 26,810,839 as of December 31, 2020, representing a growth of approximately 2.3%[15] - Total liabilities increased to SGD 1,594,148 as of June 30, 2021, from SGD 1,228,509 as of December 31, 2020, marking an increase of approximately 30%[15] - The company's equity attributable to owners rose to SGD 25,837,371 as of June 30, 2021, compared to SGD 25,582,330 at the end of 2020, reflecting a growth of about 1%[15] - Trade receivables increased to SGD 1,712,020 as of June 30, 2021, up 27.6% from SGD 1,342,326 as of December 31, 2020[81] - Trade payables to third parties decreased from SGD 252,510,000 as of December 31, 2020, to SGD 110,044,000 as of June 30, 2021[87] Cash Flow - Cash and cash equivalents at the end of the period were SGD 20,566,327, a decrease from SGD 21,003,485 at the end of June 2020, reflecting a decline of approximately 2.1%[30] - Operating cash flow before changes in working capital was SGD 489,333 for the six months ended June 30, 2021, compared to SGD 1,433 in the same period of 2020, showing a substantial improvement[30] - The company experienced a cash outflow from operating activities of SGD 39,541 for the six months ended June 30, 2021, contrasting with a cash inflow of SGD 1,469,248 in the same period of 2020[30] Government Grants and Support - Government grants received during the six months ended June 30, 2021, totaled SGD 27,652, down from SGD 44,250 in the same period of 2020, a decrease of 37.5%[53] - Employment support scheme grants amounted to SGD 49,097, a decrease of 65.2% from SGD 140,891 in the previous year[53] Risk Management - The company continues to face various financial risks, including market risk, credit risk, and liquidity risk, with no changes to risk management policies since December 31, 2020[41] - The group is highly dependent on a single market for business development, which may significantly impact operations due to vehicle quota restrictions[112] - The group faces foreign exchange risk primarily from the SGD to HKD exchange rate, with a potential impact of approximately SGD 61,000 on after-tax profit if the HKD appreciates or depreciates by 10%[129] Strategic Outlook - The company anticipates facing greater challenges in the future due to geopolitical uncertainties and ongoing impacts of COVID-19 on global supply chains[99] - The company aims to continue providing innovative products and quality services while focusing on operational goals[100] - Future outlook indicates a focus on market expansion and potential acquisitions to enhance growth[157] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the group's unaudited consolidated results for the six months ended June 30, 2021, ensuring compliance with applicable accounting standards and regulations[154] - The board of directors includes key members such as Chairperson Ma Xiaoqiu and Vice Chairman Wang Junwen[155] Dividends and Share Offering - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2021[10] - The net proceeds from the share offering, after deducting listing-related expenses, were approximately SGD 10,300,000[113] - The board anticipates no changes to the original planned use of proceeds from the share offering[117]