Revenue and Profit Performance - The company's revenue decreased by approximately SGD 5.01 million or 21.0% from SGD 23.87 million in the previous year to SGD 18.87 million for the year ended December 31, 2024[9]. - The automotive service business in Singapore generated revenue of SGD 17.49 million, a decrease of SGD 3.2 million from the previous year[12]. - The smart kitchen and restaurant brand management segment in China reported revenue of SGD 1.4 million, down by SGD 1.8 million compared to the previous year[12]. - The company achieved a profit of approximately SGD 1.03 million for the year, compared to a loss of SGD 1.53 million in the previous year, primarily due to the sale of a subsidiary in China[9]. - The company's revenue for the year ended December 31, 2024, decreased by approximately SGD 5.01 million or 21.0% to about SGD 18.87 million, down from approximately SGD 23.87 million for the year ended December 31, 2023[17]. - Revenue from Singapore operations declined by 15.6% to SGD 17.49 million, primarily due to a decrease in parts export sales and a slowdown in maintenance and repair service income[17]. - Revenue from mainland China operations fell by 56.1% to SGD 1.38 million, attributed to ongoing macroeconomic challenges leading to cautious customer spending[17]. - Other income and gains increased by approximately SGD 0.75 million or 48.1% to about SGD 2.31 million, mainly due to the sale of a subsidiary in China[18]. - The company recorded a profit of approximately SGD 1.03 million for the year ended December 31, 2024, compared to a loss of approximately SGD 1.53 million in the same period of 2023[23]. - The company reported a pre-tax profit of SGD 1,160,000, compared to a loss of SGD 1,260,000 in 2023[168]. - Net profit for the year was SGD 1,031,000, a significant recovery from a loss of SGD 1,528,000 in the prior year[168]. Operational Focus and Strategy - The company plans to focus on cost control and key operational areas to navigate the challenging economic environment[9]. - The company aims to enhance its service offerings for various passenger car brands, including hybrid and electric vehicles, by ensuring technicians are familiar with advanced repair equipment[10]. - The company is committed to exploring new partnerships and business opportunities to add value to the group in the future[10]. - The company aims to strategically expand its business by diversifying into new industries and geographical locations while maintaining its competitive advantage in traditional automotive services[57]. - The company plans to expand its market presence in China, focusing on automotive sales and services[176]. Financial Position and Cash Flow - The net cash flow from operating activities for the year ended December 31, 2024, was approximately SGD 2.97 million, compared to SGD 2.21 million when excluding the impact of IFRS 16 depreciation[29]. - The company's cash and bank balances increased to approximately SGD 5.35 million as of December 31, 2024, from SGD 2.93 million as of December 31, 2023[29]. - The debt-to-equity ratio as of December 31, 2024, was 0.29, slightly improved from 0.30 as of December 31, 2023[31]. - The company has a total of 130 full-time employees as of December 31, 2024, down from 139 employees as of December 31, 2023[38]. - The company incurred a depreciation expense of SGD 219,000 for property, plant, and equipment in 2024, down from SGD 334,000 in 2023[172]. - The company sold a subsidiary, generating a net cash inflow of SGD 247,000, contributing to the overall financial improvement[170]. - Operating cash flow for the year ended December 31, 2024, was SGD 2,971,000, a substantial increase from SGD 527,000 in 2023[172]. - Cash and cash equivalents increased to SGD 5,351,000 at the end of 2024, up from SGD 2,930,000 at the beginning of the year[173]. Corporate Governance and Board Structure - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[42]. - The company has a commitment to high standards of corporate governance, ensuring that the roles of chairman and CEO are not held by the same individual, although currently, they are[56]. - The board has adopted a diversity policy to enhance board member diversity, considering factors such as gender, age, cultural and educational background, and professional experience[58]. - The company has established a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[63]. - The board is responsible for overseeing the company's financial performance, including liquidity, working capital, and capital expenditure requirements[62]. - The audit committee held three meetings in the fiscal year ending December 31, 2024, reviewing the group's interim and annual financial performance[70]. - The company has maintained at least three independent non-executive directors, ensuring compliance with GEM listing rules regarding independence[68]. - The board is tasked with formulating overall strategy and reviewing financial performance, including significant transactions such as acquisitions and capital expenditures[69]. - The company has established a remuneration committee to review the compensation policy based on operational performance and market practices[126]. Risk Management and Compliance - The company has established policies and procedures to identify, assess, and manage significant risks, including ESG risks, with the board responsible for maintaining effective risk management systems[83]. - The company has implemented a whistleblowing policy applicable to all directors and employees, providing a confidential reporting channel for misconduct[87]. - The anti-corruption policy prohibits any form of corruption, bribery, extortion, fraud, or money laundering, and is part of the corporate governance framework[88]. - The company has complied with all relevant laws and regulations without any significant violations during the year[134]. Shareholder Engagement and Communication - The company emphasizes the importance of ongoing communication with shareholders through various channels, including announcements and quarterly reports[96]. - The company plans to distribute future corporate communications electronically, effective December 31, 2024, unless shareholders request printed copies[97]. - The company encourages shareholders to participate in all general meetings and provides avenues for submitting opinions and suggestions[96]. - The company is committed to compensating reasonable expenses incurred by shareholders if the board fails to convene a special meeting within 21 days of a request[91]. Market and Industry Context - The company operates primarily in the automotive sector, including maintenance, modification, financing, and sales of passenger vehicles[102]. - Regulatory factors in Singapore, such as the Certificate of Entitlement (COE) system, may significantly impact the company's business operations[103]. - The company acknowledges that its reputation and consumer perception of service quality are critical to its business success[101]. - The company's business performance is subject to risks related to negative publicity and customer complaints, which could adversely affect financial results[101]. Share Capital and Securities - The company plans to issue up to 400,000,000 shares at a placement price of HKD 0.04 per share, which was completed on January 23, 2025[35]. - As of December 31, 2024, the company had a total of 2,000,000,000 shares issued, with the largest shareholder holding approximately 29.54%[116]. - The company adopted a share option scheme on October 21, 2016, which is set to expire on October 20, 2026[118]. - The company did not engage in any purchase, sale, or redemption of its listed securities during the year ending December 31, 2024[110]. - There were no changes in the company's share capital for the year ending December 31, 2024, as detailed in the financial statements[109]. Financial Reporting and Audit - The financial statements were prepared in accordance with International Financial Reporting Standards and the disclosure requirements of the Hong Kong Companies Ordinance[156]. - The audit was conducted in compliance with International Auditing Standards, ensuring the independence of the auditors[157]. - The audit report indicates that the consolidated financial statements fairly reflect the group's financial position and performance as of December 31, 2024[156]. - The company has adopted consistent and appropriate accounting policies, making reasonable judgments and estimates in accordance with applicable accounting standards[77]. - The independent auditor's responsibility is to express an opinion on the financial statements prepared by the board, ensuring transparency and compliance with GEM listing rules[77].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of SGD 18,866,000, a decrease of 21.3% from SGD 23,871,000 in the previous year[4]. - Other income and gains increased to SGD 2,309,000, up 47.8% from SGD 1,559,000 year-over-year[4]. - The company reported a profit before tax of SGD 1,160,000, compared to a loss of SGD 1,260,000 in the previous year[4]. - Net profit attributable to equity holders of the company was SGD 1,031,000, a significant recovery from a loss of SGD 1,528,000 in the prior year[5]. - Basic earnings per share for equity holders was SGD 3.73, compared to a loss per share of SGD 0.36 in the previous year[5]. - The company reported a significant reduction in non-current liabilities from SGD 6,000 million in 2023 to SGD 2,754 million in 2024, a decrease of approximately 54.9%[7]. - The company reported a decrease in revenue from mainland China, which fell to SGD 1,812,000 from SGD 4,783,000, a decline of 62%[26]. - The company’s net profit for the year was SGD 1,031 thousand, down from SGD 1,528 thousand, indicating a decrease of about 32.5%[20]. Expenses and Costs - The company's cost of materials decreased to SGD 9,330,000, down 20.4% from SGD 11,717,000 in the prior year[4]. - Marketing and advertising expenses rose to SGD 868,000, an increase of 60.9% compared to SGD 539,000 in the previous year[4]. - Employee benefits expenses decreased to SGD 5,799,000, down 25.3% from SGD 7,760,000 year-over-year[4]. - The total employee benefits expense increased to SGD 7,672 thousand from SGD 5,747 thousand, marking a rise of around 33.5%[21]. - Other expenses decreased by approximately SGD 2.81 million or 50.1% to about SGD 2.80 million for the year ending December 31, 2024, mainly due to cost control measures in response to business scale reduction in Singapore and China[59]. Assets and Liabilities - Non-current assets decreased from SGD 6,235 million in 2023 to SGD 5,664 million in 2024, a decline of approximately 9.15%[6]. - Current assets increased significantly from SGD 14,901 million in 2023 to SGD 16,299 million in 2024, an increase of about 9.36%[6]. - Total liabilities decreased from SGD 15,028 million in 2023 to SGD 13,150 million in 2024, a reduction of approximately 12.45%[7]. - The company's net asset value rose from SGD 6,108 million in 2023 to SGD 8,813 million in 2024, an increase of around 44.3%[7]. - Cash and cash equivalents surged from SGD 2,930 million in 2023 to SGD 5,351 million in 2024, reflecting an increase of approximately 82.5%[6]. - Trade receivables decreased from SGD 1,390 million in 2023 to SGD 1,064 million in 2024, a decline of about 23.4%[6]. - The total equity attributable to owners increased from SGD 7,186 million in 2023 to SGD 8,880 million in 2024, an increase of about 23.5%[7]. Strategic Plans and Market Focus - The company plans to focus on market expansion and new product development in the upcoming fiscal year[4]. - The company aims to expand its product range and enhance services in the electric vehicle sector to maintain a leading position in the Singapore market[52]. - The company is focusing on the growth of its smart kitchen division, integrating various business models including offline retail, takeaway, and SaaS+ services[53]. - The company plans to leverage AI and advanced technologies as part of its sustainable growth strategy by 2025[49]. Shareholder Information and Governance - The board of directors confirmed the accuracy and completeness of the financial information presented in the report[3]. - The company has no dividends declared or payable for the year ended December 31, 2024[38]. - The board of directors has recommended not to declare any dividends for the year ending December 31, 2024, consistent with the previous year[84]. - The audit committee consists of three independent non-executive directors, ensuring compliance with accounting principles and internal controls[86]. - The company will publish its annual report in accordance with GEM listing rules, providing necessary information to shareholders[92]. Employment and Workforce - The company had a total of 130 full-time employees as of December 31, 2024, down from 139 employees as of December 31, 2023[77]. - Employee costs (excluding directors and highest-paid executives) decreased to SGD 5,696,000 in 2024 from SGD 7,490,000 in 2023[32].

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of SGD 9.433 million, a decrease of 20.4% compared to SGD 11.851 million in the same period of 2023[8]. - The company incurred a loss before tax of SGD 2.118 million, compared to a profit of SGD 1.139 million in the prior year, indicating a significant decline in performance[8]. - Total comprehensive loss for the period was SGD 2.139 million, contrasting with a total comprehensive income of SGD 1.085 million in the previous year[8]. - The company reported a basic and diluted loss per share of SGD 0.11 for the current period, compared to a profit of SGD 0.06 per share in the previous year[8]. - The company reported a net cash outflow from operating activities of SGD 550,000 for the six months ended June 30, 2024, compared to a net inflow of SGD 887,000 in the same period of 2023[12]. - The company incurred a total comprehensive loss of SGD 1,771,000 for the six months ended June 30, 2024, compared to a loss of SGD 2,140,000 for the same period in 2023[11]. - The company recorded a revenue of approximately SGD 9.43 million for the six months ended June 30, 2024, a decrease of 20.4% from SGD 11.85 million for the same period in 2023[42]. - The company reported a loss of approximately SGD 2.14 million for the six months ended June 30, 2024, compared to a profit of approximately SGD 1.09 million for the same period in 2023[42]. Revenue Breakdown - Revenue from maintenance and repair services was SGD 7,665,000, down from SGD 7,830,000, reflecting a decline of 2.1%[16]. - Revenue from modification, tuning, and beautification services, as well as the sale of parts and accessories, decreased significantly to SGD 1,409,000 from SGD 2,544,000, a drop of 44.6%[16]. - Revenue from Singapore operations decreased by 15.3% to SGD 8.75 million, primarily due to a reduction in parts sales exports[42]. - Revenue from mainland China decreased by 51.4% to SGD 0.68 million, attributed to declining consumer demand and economic downturn[42]. - The company's gross profit margin declined from 50.1% to approximately 47.2%, due to reduced contributions from higher-margin businesses in mainland China[45]. Assets and Liabilities - The company's total assets as of June 30, 2024, amounted to SGD 21.358 million, a slight decrease from SGD 22.235 million as of December 31, 2023[9]. - Current liabilities increased to SGD 11.553 million from SGD 9.028 million, reflecting a rise in financial obligations[9]. - The net asset value decreased to SGD 3.968 million from SGD 6.108 million, indicating a decline in shareholder equity[9]. - The total trade receivables at the end of June 30, 2024, amounted to 1,127,000 Singapore dollars, a decrease from 1,447,000 Singapore dollars as of December 31, 2023[23]. - Trade payables as of June 30, 2024, amounted to SGD 1,500 thousand, an increase from SGD 1,416 thousand as of December 31, 2023[34]. - Other payables increased significantly to SGD 3,947 thousand as of June 30, 2024, compared to SGD 2,193 thousand as of December 31, 2023[34]. Cash Flow and Financial Position - The company’s cash and cash equivalents stood at SGD 2.511 million, down from SGD 2.930 million at the end of 2023[9]. - The total cash and cash equivalents at the end of June 30, 2024, were SGD 2,511,000, down from SGD 3,417,000 at the end of June 30, 2023[12]. - Cash and bank balances as of June 30, 2024, were approximately SGD 2.51 million, down from SGD 2.93 million as of December 31, 2023[47]. - The company's debt-to-equity ratio was 0.7 times as of June 30, 2024, compared to 0.3 times as of December 31, 2023[47]. Strategic Plans and Future Outlook - The company plans to focus on market expansion and new product development to improve future performance[7]. - The management is actively exploring strategic partnerships and potential acquisitions to enhance growth opportunities[7]. - The company plans to expand its electric vehicle business, with expected delivery around the end of Q3 2024[29]. - The company aims to become a leading platform for pre-prepared food industry SaaS+ services globally, integrating various business models including retail, delivery, and brand incubation[43]. - The company is focusing on customer service and loyalty while acquiring new customers through new products and services amidst economic uncertainties[44]. Shareholder Information - As of June 30, 2024, Mr. Wang Lei holds a beneficial interest of 590,870,000 shares, representing approximately 29.54% of the company's equity[48]. - Ms. Li Lidan, as the spouse of Mr. Wang Lei, is deemed to have the same interest in the 590,870,000 shares, also representing approximately 29.54%[49]. - Mr. Li Jie holds a beneficial interest of 286,020,000 shares, which is approximately 14.30% of the company's equity[53]. - The company has 2,000,000,000 issued ordinary shares as of June 30, 2024[22]. Corporate Governance and Compliance - The company has maintained compliance with the corporate governance code and has not separated the roles of Chairman and CEO[60]. - The interim results for the six months ending June 30, 2024, have not been audited[61]. - The previous auditor, Zhongzheng Tianheng CPA Limited, will not be reappointed, and a new auditor, Xianji CPA Limited, has been appointed following a resolution passed at the annual general meeting on June 26, 2024[65]. Acquisitions and Investments - The company decided not to proceed with the acquisition of 100% equity in Shanghai Tianji Zhongwei Industrial Development Co., Ltd., which was valued at RMB 19,000,000 (approximately HKD 20,938,000) due to careful consideration[62]. - The acquisition agreement was unilaterally terminated by the buyer on August 1, 2024, releasing the buyer from related obligations and responsibilities[62]. - No significant investments or acquisitions related to subsidiaries, associates, or joint ventures occurred during the six months ending June 30, 2024[63].

Financial Performance - Revenue for the period was SGD 9,433 thousand, a decrease from SGD 11,851 thousand in the previous period[10] - Net loss for the period was SGD 2,122 thousand, compared to a net profit of SGD 1,115 thousand in the previous period[10] - Total assets decreased to SGD 15,238 thousand from SGD 14,901 thousand, while total liabilities increased to SGD 11,553 thousand from SGD 9,028 thousand[11] - Cash and cash equivalents decreased to SGD 2,511 thousand from SGD 2,930 thousand at the beginning of the period[14] - The company's equity attributable to owners of the parent decreased to SGD 5,415 thousand from SGD 7,186 thousand[13] - Non-current assets decreased to SGD 6,120 thousand from SGD 6,235 thousand, primarily due to a decrease in property, plant, and equipment[11] - The company's net cash used in operating activities was SGD 550 thousand, compared to SGD 887 thousand generated in the previous period[14] - The company's total comprehensive loss for the period was SGD 2,139 thousand, compared to a comprehensive income of SGD 1,085 thousand in the previous period[10] - The company's basic and diluted loss per share was SGD 0.11, compared to a profit of SGD 0.06 in the previous period[10] - Revenue from customer contracts decreased to SGD 9,433 thousand in 2024 from SGD 11,851 thousand in 2023, with significant declines in modification, debugging, and beauty services (SGD 1,409 thousand vs. SGD 2,544 thousand) and brand management services (SGD 66 thousand vs. SGD 949 thousand)[18] - Pre-tax loss for the group was SGD 2,122 thousand in 2024, compared to a pre-tax profit of SGD 1,114 thousand in 2023[21] - Basic loss per share was SGD 0.11 cents in 2024, compared to a basic profit per share of SGD 0.06 cents in 2023[24] - Employee costs (excluding directors and top executives) increased to SGD 3,462 thousand in 2024 from SGD 3,251 thousand in 2023[19] - Net cash used in operating activities was SGD 0.55 million, while net cash used in investing activities was SGD 1.51 million, and net cash from financing activities was SGD 1.64 million[49] - The asset-to-liability ratio increased from 0.3x as of December 31, 2023, to 0.7x as of June 30, 2024[49] Company Structure and Leadership - The company's executive directors include Wang Lei (Co-Chairman, CEO), Feng Wei (Co-Chairman), Cai Wenhao, and Wu Mengmeng (appointed on May 30, 2024)[5] - The company's registered office is located in the Cayman Islands, with its China headquarters in Shandong Province and its Singapore headquarters at 160 Sin Ming Drive[7][8] - The company's shares are traded on the Hong Kong Stock Exchange under the stock code 8283[8] - Mr. Wang Lei holds a 29.54% beneficial interest in the company's shares, while Ms. Li Lidan, his spouse, holds the same percentage through spousal interest[50][55] - Mr. Li Jie holds a 14.30% beneficial interest in the company's shares, and Ms. Han Mei, his spouse, holds the same percentage through spousal interest[55] Financial Statements and Reporting - The company announced its unaudited condensed consolidated financial results for the six months ended June 30, 2024, along with comparative unaudited figures for the same period in 2023[9] - The interim report for 2024 is available on the Hong Kong Stock Exchange website (www.hkexnews.hk) and the company's website (www.zhongshiminanholdings.com)[1] - The company appointed Xianji Certified Public Accountants Limited as the new auditor following the resignation of Zhongzheng Tianheng Certified Public Accountants Co., Ltd.[67] Assets and Liabilities - The company's non-current liabilities decreased to SGD 5,837 thousand from SGD 6,000 thousand, primarily due to a decrease in bank and other borrowings[11] - Trade receivables decreased to SGD 1,127 thousand in 2024 from SGD 1,447 thousand in 2023, with a net trade receivables balance of SGD 1,070 thousand after impairment losses[25] - Prepayments and other receivables increased to SGD 9.74 million as of June 30, 2024, compared to SGD 9.71 million as of December 31, 2023, driven by higher short-term prepayments and other receivables[31] - Trade payables increased to SGD 1.5 million as of June 30, 2024, from SGD 1.42 million as of December 31, 2023, with 56% of payables aged less than 30 days[37] - Total bank and other borrowings increased to SGD 3.82 million as of June 30, 2024, from SGD 2.18 million as of December 31, 2023, primarily due to new short-term loans[38][40] - Trade and other payables increased to SGD 8.51 million as of June 30, 2024, from SGD 7.37 million as of December 31, 2023, mainly due to higher other payables[36] - The company's deposits for vehicle purchases and EV facility upgrades remained stable at SGD 5.68 million as of June 30, 2024[31] - The company's issued and paid-up capital remained unchanged at 2 billion ordinary shares as of June 30, 2024[42] - Cash and bank balances decreased from SGD 2.93 million as of December 31, 2023, to SGD 2.51 million as of June 30, 2024[49] - 99% of the company's cash and bank balances were denominated in the functional currency (SGD) as of June 30, 2024, compared to 89.4% as of December 31, 2023[49] - The company has 2,000,000,000 issued shares with a par value of HKD 0.0025 per share, totaling approximately SGD 0.9 million in issued share capital as of June 30, 2024[49] Business Operations and Strategy - The group acquired SGD 0.48 million in plant and equipment during the six months ended June 30, 2024, a significant increase from SGD 0.03 million in the same period in 2023[26] - The company plans to expand its passenger car and EV business, with expected deliveries starting in Q3 2024[31] - The company provided 17 auto financing loans totaling SGD 2.2 million as of June 30, 2024, with interest rates ranging from 3% to 7%[33] - Expected credit losses for third-party receivables remained minimal, with a total carrying amount of SGD 2.2 million as of June 30, 2024[32] - The top 5 auto financing loans accounted for 53% of total third-party receivables as of June 30, 2024[33] - The company terminated the acquisition of 100% registered capital of Shanghai Tianji Zhongwei Industrial Development Co., Ltd. for a total consideration of RMB 19,000,000 (approximately HKD 20,938,000) due to careful consideration[64] - No significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures were made during the six months ended June 30, 2024[65] Taxation and Regulatory Compliance - The group's Singapore subsidiary is subject to a 17% tax rate on estimated profits generated in Singapore, while the China subsidiary is subject to a 25% tax rate on estimated profits generated in China[20][22] Dividends and Shareholder Information - The group did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[23] - The company did not recommend any dividend payment for the six months ended June 30, 2024[66] Risk Management and Financial Instruments - The group's trade receivables are typically non-interest bearing with a 30-day term, and the expected credit loss provision was SGD 57 thousand as of June 30, 2024[27][28] - No assets were pledged as collateral as of June 30, 2024[57] - The company did not use any hedging instruments to mitigate foreign exchange risk as of the reporting date[58] Related Party Transactions - The company did not engage in any related party transactions during the six months ended June 30, 2024[54]

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 就 因 本 公 告 全 部 或 任 何 部 份 內 容 所 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 Zhongshi Minan Holdings Limited 中食民安控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8283） 有關二零二三年年報之 補充公告 – 1 – 有 關 五 大 汽 車 融 資 貸 款 的 詳 情 如 下： | | | 二零二三年 | 二零二二年 | | --- | --- | --- | --- | | | | 千新加坡元 | 千新加坡元 | | 客 | 戶A | 403 | – | | 客 | 戶B | 251 | – | | 客 | 戶C | 218 | 289 | | 客 | 戶D | 185 | – | | 客 | 戶E | 160 | 186 | | 客 | 戶F | – | 338 | | 客 | 戶G | – | 170 | | ...

Financial Performance - The group's revenue increased by approximately SGD 0.28 million or 1.2% to approximately SGD 23.87 million for the year ended December 31, 2023, compared to SGD 23.59 million for the previous year[7]. - The group recorded a loss of approximately SGD 1.53 million, compared to a loss of approximately SGD 0.07 million in the same period last year, primarily due to significant expenses related to brand awareness and market expansion in mainland China[7]. - The group's total revenue for the year ended December 31, 2023, was approximately SGD 23.87 million, a slight increase of SGD 0.28 million or 1.2% from SGD 23.59 million in the previous year, primarily due to additional revenue from new business in mainland China[18]. - Other income and gains increased by SGD 0.43 million or 38.1% to approximately SGD 1.56 million for the year ended December 31, 2023, mainly from realized capital gains on listed securities and asset sales[19]. - Material costs decreased by approximately SGD 1.03 million or 8.1%, leading to an increase in gross margin from 46.0% to approximately 50.9% for the year ended December 31, 2023, due to better margins from new food and kitchen appliance trade and brand management services in mainland China[20]. - Employee benefits expenses rose by approximately SGD 0.79 million or 11.3% to approximately SGD 7.76 million, consistent with the group's strategic expansion in mainland China[22]. - Marketing and advertising expenses increased by SGD 0.12 million or 28.6% to SGD 0.54 million, primarily due to additional marketing expenses incurred by the newly established entity in mainland China[21]. Business Operations - The automotive service business in Singapore generated revenue of SGD 20.5 million, a slight decrease of SGD 0.7 million[10]. - The new venture in mainland China contributed SGD 3.1 million through sales of smart kitchen appliances, food and beverage brand management services, and packaged foods[10]. - The new smart kitchen division is set to develop multiple business models, including offline retail, takeaway services, and SaaS+ empowerment, aiming to become a leading platform in the global pre-prepared food industry[16]. - The group’s new business segment in China contributed approximately 13% to total revenue in 2023, up from 9% in 2022[18]. - The company plans to invest more resources into the green vehicle sector to capture future trends and maintain its market share in Singapore's maintenance and repair market[8]. - The company aims to continue seeking new investment opportunities and/or partnerships to enhance its competitive position[8]. Market Conditions - The overall inflation and high premiums for Certificates of Entitlement (COE) continue to challenge the automotive market in Singapore[7]. - Singapore's government has initiated plans to install 60,000 electric vehicle charging points by 2030 to promote the adoption of electric vehicles[8]. - The number of registered electric vehicles in Singapore increased by 50.5% to 5,468 in 2023, with an adoption rate of 18.1% among total registered vehicles, up from 11.7% in 2022[15]. - The company is subject to regulatory risks in Singapore, particularly regarding vehicle ownership policies that could adversely affect service demand[132]. Financial Position - The net cash flow from operating activities for the year ended December 31, 2023, was approximately SGD 0.46 million, and after adjusting for the impact of IFRS 16, the net cash flow used in operating activities was approximately SGD 0.33 million[36]. - The group’s cash and bank balances as of December 31, 2023, were approximately SGD 2.9 million, compared to SGD 3.0 million as of December 31, 2022[36]. - The asset-to-liability ratio as of December 31, 2023, was 0.3, consistent with the ratio from December 31, 2022[37]. - The group’s long-term loans were secured by legal mortgages on properties owned by the group, with a carrying value of approximately SGD 2.0 million as of December 31, 2023[40]. - As of December 31, 2023, the amount receivable from third-party loans was approximately SGD 2.1 million, mainly related to automotive financing loans[28]. Corporate Governance - The company has a strong commitment to high standards of corporate governance, which is deemed essential for sustainable growth and maximizing shareholder value[74]. - The board consists of nine members, including three independent non-executive directors, promoting critical review and monitoring of management processes[78]. - The company has implemented a code of conduct for directors regarding securities trading, ensuring compliance with relevant regulations[82]. - The board has adopted a diversity policy to ensure a balanced representation of skills, experience, and perspectives among board members, considering factors such as gender, age, cultural background, and professional experience[76]. - The company has established credit risk assessment policies for automotive financing, considering factors such as the brand, model, age, and condition of the collateralized vehicles[33]. Shareholder Relations - The company has adopted a shareholder communication policy to ensure equal and timely access to information for shareholders, allowing them to actively participate in company affairs[109]. - The company encourages shareholders to provide updated contact information to facilitate timely communication[126]. - The board has the authority to convene special general meetings upon request from shareholders holding at least 10% of the paid-up capital[115]. - Shareholders have the right to make inquiries to the board, which can be done in writing or during the annual general meeting[119]. Employee and Management - The total number of full-time employees as of December 31, 2023, was 139, down from 144 as of December 31, 2022[42]. - The employee gender ratio is approximately 72% male and 28% female, reflecting the traditional automotive industry's lower female participation[78]. - The management team includes experienced individuals with backgrounds in technology, finance, and operations, enhancing the company's strategic capabilities[51][53][55]. Risk Management - The company has established policies and procedures to identify, assess, and manage significant risks, including ESG risks, with the board responsible for the overall effectiveness of the risk management system[106]. - The internal audit function has been outsourced to a professional risk advisory firm to review the group's monitoring environment and key business processes[106]. - The risk management committee reviewed the company's risk management policies and internal control mechanisms, including ESG risks, during its 1 meeting[92]. Acquisitions and Investments - The company has agreed to acquire 100% of the registered capital of Shanghai Tianji Zhongwei Industrial Development Co., Ltd. for a total consideration of RMB 19,000,000, equivalent to approximately HKD 20,938,000[175]. - The acquisition will be paid in cash and through the issuance of 357,666,666 shares, representing about 17.88% of the existing issued share capital as of the report date[175]. - The deadline for fulfilling the conditions of the sale agreement has been extended to May 24, 2024, due to the need for additional time[181]. - The company has not made any significant investments or acquisitions related to subsidiaries, associates, or joint ventures for the year ending December 31, 2023[176]. Compliance and Legal Matters - The company has complied with GEM listing rules and provided timely financial information to stakeholders[98]. - The company has complied with relevant laws and regulations that significantly impact its business and operations[186]. - The company is not involved in any significant legal proceedings as of December 31, 2023[48].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of SGD 23,871,000, an increase of 1.2% from SGD 23,593,000 in the previous year[5]. - Other income and gains rose to SGD 1,559,000, up 38.2% from SGD 1,129,000 in the prior year[5]. - The company incurred a net loss of SGD 1,528,000 for the year, compared to a loss of SGD 73,000 in the previous year, representing a significant increase in losses[5]. - The total comprehensive loss for the year was SGD 1,468,000, compared to a loss of SGD 52,000 in the previous year[6]. - The company reported a total loss before tax of SGD 1,260,000 for the year, with a net loss of SGD 1,528,000 after tax expenses[28]. - The company reported a pre-tax profit of SGD 268,000 for 2023, compared to SGD 175,000 in 2022, marking a 53.14% increase[53]. - The company reported a basic loss per share of SGD 0.007 for the year ended December 31, 2023, compared to SGD 0.004 in 2022, reflecting an increase in loss attributable to owners of the company from SGD 75,000 to SGD 142,000[55]. Expenses - Employee benefit expenses increased to SGD 7,760,000, up 11.3% from SGD 6,974,000 year-over-year[5]. - Marketing and advertising expenses rose to SGD 539,000, an increase of 27.1% from SGD 424,000 in the previous year[5]. - Other expenses increased by approximately SGD 3.20 million or 132.8% to about SGD 5.61 million for the year ending December 31, 2023, primarily due to significant spending on brand recognition and market expansion in China[79]. Assets and Liabilities - Total non-current assets decreased from SGD 6,725,000 in 2022 to SGD 6,235,000 in 2023, a decline of approximately 7.3%[9]. - Current assets increased from SGD 13,013,000 in 2022 to SGD 14,901,000 in 2023, representing a growth of about 14.5%[9]. - Total current liabilities decreased from SGD 9,803,000 in 2022 to SGD 9,028,000 in 2023, a reduction of approximately 7.9%[9]. - Total non-current liabilities rose from SGD 2,359,000 in 2022 to SGD 6,000,000 in 2023, an increase of approximately 154%[11]. - Total equity decreased from SGD 7,576,000 in 2022 to SGD 6,108,000 in 2023, a decline of about 19.4%[11]. - Total assets as of December 31, 2023, were valued at SGD 21,136,000, with total liabilities amounting to SGD 15,028,000[32]. - The company’s total assets as of December 31, 2022, were SGD 19,738,000, with total liabilities of SGD 12,162,000[35]. Revenue Segments - The maintenance and repair services segment generated revenue of SGD 15,620,000, while the modification, tuning, and beauty services segment brought in SGD 5,095,000[28]. - Revenue from the sale of food and kitchen appliances decreased to SGD 1,279,000, down 42.14% from SGD 2,212,000 in the previous year[41]. - Customer contract revenue from maintenance and repair services was SGD 15,531,000, up from SGD 15,002,000, reflecting a 3.53% growth[41]. - The total revenue from the mainland China market was SGD 4,783,000, an increase from SGD 4,347,000, reflecting a growth of 10.03%[38]. Corporate Governance and Compliance - The board believes that maintaining high standards of corporate governance is crucial for the company's growth and maximizing shareholder value[99]. - The audit committee consists of three independent non-executive directors and has reviewed the company's accounting principles and financial reporting for the year ending December 31, 2023[111]. - The annual performance announcement for the year ending December 31, 2023, has been confirmed to be consistent with the audited financial statements by the auditor[112]. Strategic Plans and Market Expansion - The company plans to continue exploring market expansion opportunities and new product development strategies in the upcoming fiscal year[5]. - The company is expanding its operations in China, integrating various business models including offline retail, takeaway services, and SaaS+ solutions[64]. - The group plans to invest in professional equipment to handle unique components and safety requirements of electric vehicles, expanding its automotive trade business to include electric vehicles[69]. - The group will maintain a cautious approach in 2024, focusing on customer service and loyalty while acquiring new customers through new products and services[71]. Shareholder Communication - The company has adopted arrangements to distribute corporate communications electronically to shareholders, effective December 31, 2023[103]. - The company encourages shareholders to provide updated contact information to facilitate timely communication[107]. - The board of directors recommended not to declare any dividends for the year ending December 31, 2023[109].

Financial Performance - For the three months ended September 30, 2023, the company reported revenue of SGD 5.5 million, a decrease of 17.3% compared to SGD 6.7 million in the same period of 2022[8]. - The company's net loss for the three months ended September 30, 2023, was SGD 0.93 million, compared to a profit of SGD 0.22 million in the same period of 2022[8]. - Total comprehensive loss for the nine months ended September 30, 2023, was SGD 0.16 million, compared to a loss of SGD 0.05 million in the same period of 2022[8]. - The company's revenue for the nine months ended September 30, 2023, decreased by approximately SGD 0.41 million or 2.3% to about SGD 17.35 million, compared to SGD 17.8 million for the same period in 2022[27]. - Profit for the nine months ended September 30, 2023, was approximately SGD 0.19 million, a turnaround from a loss of about SGD 0.04 million in the same period of 2022, primarily due to investment income of SGD 0.86 million[40]. Expenses and Costs - The company's material costs for the three months ended September 30, 2023, were SGD 2.63 million, down 22.7% from SGD 3.41 million in the same period of 2022[8]. - Employee benefits expenses for the three months ended September 30, 2023, were SGD 1.60 million, a decrease of 14.4% compared to SGD 1.87 million in the same period of 2022[8]. - The company’s total expenses for the three months ended September 30, 2023, were SGD 6.43 million, compared to SGD 6.37 million in the same period of 2022[8]. - Material costs decreased by approximately SGD 1.36 million or 13.7%, leading to an increase in gross margin from 44.2% to about 50.7%[34]. - Other expenses increased significantly by approximately SGD 2.01 million or 121.8% to about SGD 3.67 million, primarily due to substantial costs incurred for brand awareness and market expansion in China[39]. Income and Gains - The company reported other income and gains of SGD 0.12 million for the three months ended September 30, 2023, an increase of 25% from SGD 0.09 million in the same period of 2022[8]. - Other income and gains increased by approximately SGD 0.70 million or 184.8% to about SGD 1.08 million, mainly from realized capital gains on listed securities[36]. Shareholder Information - The company has a total of 2,000,000,000 issued ordinary shares as of September 30, 2023[25]. - Mr. Wang Lei holds 290,870,000 shares, representing approximately 14.54% of the company's equity[44]. - Mr. Li Jie holds 586,020,000 shares, representing approximately 29.30% of the company's equity[45]. Dividends and Recommendations - The company did not recommend any dividend for the nine months ended September 30, 2023, consistent with the previous year[24]. - The board does not recommend any dividend payment for the nine months ending September 30, 2023, consistent with the previous year[60]. Tax and Compliance - The income tax expense for the three months ended September 30, 2023, was SGD 1,000, compared to an expense of SGD (64,000) for the same period in 2022[23]. - The company’s Singapore subsidiary is subject to a tax rate of 17% on estimated profits generated in Singapore[21]. - The company has adopted all new and revised International Financial Reporting Standards effective from January 1, 2023, with no significant impact on its accounting policies or financial performance[12]. - The company has complied with all applicable corporate governance code provisions during the reporting period[55]. Corporate Activities - The company operates in various sectors including automotive maintenance, modification services, and smart kitchen appliance development[12]. - The company is expanding its new smart kitchen division, integrating various business models including offline retail, takeaway services, and SaaS+ empowerment[32]. - On November 10, 2023, the group signed a memorandum of understanding for a potential acquisition of a company's equity, with specific details pending further negotiations[58]. - No significant investments, acquisitions, or disposals were made by the group in the nine months ending September 30, 2023[57]. Risk Management - The company has not engaged in any currency hedging to mitigate foreign exchange risks[50]. - The company has no pledged assets as of September 30, 2023[49]. - No significant related party transactions were established during the nine months ending September 30, 2023[46].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 Zhongshi Minan Holdings Limited 中食民安控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8283） 二 零 二 三 年 第 三 季 度 業 績 公 告 中食民安控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司 及其附屬公司（統稱「本集團」）截至二零二三年九月三十日止九個月之未經審 核簡明綜合財務業績。本公告列載本集團二零二三年第三季度報告全文，乃符 合香港聯合交易所有限公司GEM（「GEM」）證券上市規則（「GEM上市規則」）中有 關第三季度業績初步公告附載的資料之相關要求。 承董事會命 中食民安控股有限公司 聯席主席、行政總裁兼執行董事 王雷 香港，二零二三年十一月十三日 ...

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，並明確表示概不就因本公告全 部或任何部份內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 Zhongshi Minan Holdings Limited 中食民安控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8283） 有 關 二 零 二 二 年 年 報 之 補 充 公 告 茲提述中食民安控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）截至 二零二二年十二月三十一日止年度之年度報告（「二零二二年年報」）。除非另有 所指，本公告所用詞彙與二零二二年年報所界定者具有相同涵義。 除年報所披露資料之外，本公司謹此提供以下補充資料如下： 汽車融資服務 為促進對客戶的汽車銷售，我們亦通過租購協議或融資租賃協議為客戶提供 汽車融資服務。 就汽車融資服務而言，我們從租購協議相關的利息費用獲取收入。所收取的利 ...