Financial Performance - For the six months ended June 30, 2019, the company reported revenue of SGD 11.936 million, an increase of 46.5% compared to SGD 8.187 million for the same period in 2018[14] - The company incurred a loss before tax of SGD 590,000 for the six months ended June 30, 2019, compared to a loss of SGD 2.025 million for the same period in 2018, representing a 70.9% improvement[14] - The basic and diluted loss per share for the six months ended June 30, 2019, was SGD 0.04, improved from SGD 0.10 for the same period in 2018[14] - Total comprehensive loss for the six months ended June 30, 2019, was SGD 750,000, significantly reduced from SGD 2.025 million in the previous year[14] - Customer contract revenue for the six months ended June 30, 2019, was SGD 11,936 million, compared to SGD 8,187 million for the same period in 2018, reflecting a growth of approximately 45.1%[33] - The company reported a net loss of SGD (750) million for the six months ended June 30, 2019, compared to a loss of SGD (2,025) million in the same period of 2018, showing a decrease in losses[21] - For the three months ended June 30, 2019, the company reported a loss attributable to equity holders of SGD 426,000, compared to a loss of SGD 555,000 for the same period in 2018, representing a 23.2% improvement[41] - The group recorded a loss of approximately 0.8 million SGD for the six months ended June 30, 2019, a decrease from a loss of approximately 2.0 million SGD in the same period of 2018[62] Cost Management - The company reported a decrease in material costs to SGD 6.290 million for the six months ended June 30, 2019, down from SGD 4.111 million in the same period of 2018, reflecting improved cost management[14] - Material costs rose by approximately SGD 2.2 million or about 53% to approximately SGD 6.3 million for the six months ended June 30, 2019, aligning with the increase in revenue[71] Assets and Liabilities - The company's total assets as of June 30, 2019, were SGD 6.457 million, compared to SGD 4.424 million as of December 31, 2018, indicating a growth of 46.0%[14] - Total assets decreased from SGD 11,085 million to SGD 9,438 million, a decline of approximately 14.8%[17] - Current liabilities increased from SGD 5,676 million to SGD 7,442 million, representing a rise of about 30.9%[17] - Total equity decreased from SGD 8,235 million to SGD 7,485 million, a decline of approximately 9.1%[17] - Non-current liabilities decreased from SGD 2,850 million to SGD 1,953 million, a reduction of about 31.5%[17] - The total value of current assets increased from SGD 7,076 million to SGD 8,085 million, an increase of approximately 14.2%[17] Employee Expenses - Employee benefits expenses increased to SGD 3.363 million for the six months ended June 30, 2019, compared to SGD 2.955 million in the previous year, indicating a rise of 13.8%[14] - Employee costs (excluding directors and highest paid executives) increased to SGD 1,551,000 for the three months ended June 30, 2019, up from SGD 1,188,000 in 2018, reflecting a 30.6% rise[41] - The group employed 182 full-time staff as of June 30, 2019, compared to 94 staff a year earlier, reflecting a significant increase in workforce to support growth[79] Strategic Initiatives - The company plans to continue focusing on market expansion and new product development to drive future growth[12] - The management expressed optimism about future performance, citing strategic initiatives aimed at enhancing operational efficiency and market presence[12] - The company plans to continue diversifying its business scope and revenue sources through new strategies in the automotive-related industry[64] - The group plans to continue expanding its business in China and strengthen connections with customers, suppliers, and partners in Singapore and China[68] Corporate Governance - The company is committed to maintaining compliance with corporate governance standards and enhancing shareholder value through prudent financial management[12] - The board believes that good corporate governance is crucial for the group's sustainable growth and shareholder value enhancement[96] - The company has adopted a code of conduct for securities trading by directors, confirming compliance for the six months ended June 30, 2019[94] Market Trends - The company established a subsidiary in China for car-sharing and long-term leasing services, aiming to tap into the "Internet+" car rental market[64] - The new vehicle emission scheme implemented by the Singapore government is expected to impact the total number of registered vehicles, leading to increased demand for maintenance and repair services[66] - The number of private hire cars in Singapore increased from 16,396 in 2013 to 66,480 in 2018, indicating a growing market for car services[66] - The group has launched its first electric vehicle sharing service, covering 80 cars and 32 charging stations[67] - The group aims to enhance its automotive tuning parts brand and improve operational efficiency and customer service quality[68] Other Information - The company did not declare any interim dividend for the six months ended June 30, 2019, consistent with the previous year[42] - The board does not recommend any interim dividend for the six months ended June 30, 2019, consistent with the previous year[100] - There were no significant events affecting the group after the reporting period[80] - The group has not experienced any significant contingent liabilities as of June 30, 2019[77] - No major investments, acquisitions, or disposals were made by the group for the six months ended June 30, 2019[98]

Financial Performance - Revenue for the first quarter of 2019 was SGD 5,479,000, an increase from SGD 3,763,000 in the same period of 2018, representing a growth of approximately 45.5%[40] - The company reported a loss before tax of SGD 242,000 for Q1 2019, significantly improved from a loss of SGD 1,470,000 in Q1 2018, indicating a reduction in losses by approximately 83.5%[40] - Total comprehensive loss for the period was SGD 324,000 in Q1 2019, compared to SGD 1,470,000 in Q1 2018, reflecting a decrease of about 78%[40] - Basic and diluted loss per share for Q1 2019 was SGD 0.065, a notable improvement from SGD 0.29 in Q1 2018[40] - The company reported a loss attributable to equity holders of SGD 0.32 million for the three months ended March 31, 2019, compared to a loss of SGD 1.47 million for the same period in 2018[61] - The group recorded a loss of approximately SGD 1.5 million for the three months ended March 31, 2018, which decreased to approximately SGD 0.3 million for the three months ended March 31, 2019, indicating improved gross profit and gross margin in Singapore and China markets[78] Revenue Breakdown - Revenue from maintenance and repair services accounted for approximately 76.3% of total revenue in Q1 2019, down from 82.4% in Q1 2018[68] - The segment for modification, tuning, and beautification services, along with the sale of parts, generated SGD 0.92 million in Q1 2019, up from SGD 0.66 million in Q1 2018, reflecting a growth of 38.7%[51][68] - The company continues to focus on expanding its product and service offerings to meet customer demands, with a reported revenue growth of 38.7% in this segment[68] - The subsidiary in China contributed approximately SGD 0.4 million to the group's revenue for the three months ended March 31, 2019[70] Cost and Expenses - Material costs for Q1 2019 were SGD 2,852,000, up from SGD 2,113,000 in Q1 2018, indicating an increase of approximately 35%[40] - Employee benefit expenses decreased to SGD 1,379,000 in Q1 2019 from SGD 1,534,000 in Q1 2018, a reduction of about 10.1%[40] - The company incurred financial expenses of SGD 66,000 in Q1 2019, compared to SGD 53,000 in Q1 2018, representing an increase of approximately 24.5%[40] Share Capital and Dividends - The company has issued a total of 500 million ordinary shares as of March 31, 2019, following a placement of 125 million new shares and a capitalization of 375 million shares in November 2016[63] - As of April 4, 2019, the company has split its issued and unissued ordinary shares into four ordinary shares, increasing the total issued shares to 2 billion[66] - The company does not recommend any dividend payment for the three months ended March 31, 2019, consistent with the previous year[55] - No dividends were recommended for the three months ended March 31, 2019, compared to no dividends in the same period of 2018[98] Corporate Governance - The board of directors confirmed that the financial information presented is accurate and complete, with no misleading elements[40] - The audit committee reviewed the unaudited consolidated results for the three months ended March 31, 2019, in meetings with management[93] - The company has not established any arrangements for directors or their family members to benefit from purchasing shares or debentures of the company[80] - There were no interests or businesses held by directors that directly or indirectly compete with the company as of March 31, 2019[91] Strategic Initiatives - The company aims to enhance its market presence and explore new product development strategies in the upcoming quarters[40] - The group aims to maintain its leading position in the Singapore passenger car market and plans to expand its service offerings based on customer demand and market trends[74] - The group has established a new subsidiary, Shenzhen Dache Technology Co., Ltd., focused on the car-sharing rental market in China, contributing to the diversification of its business[70] - The company has been appointed as an authorized repairer by several insurance companies, allowing it to provide repair services for insured vehicles[73] - The company is committed to enhancing its service capabilities and market reputation to increase its customer base in the highly fragmented passenger car maintenance market[72] Market Environment - The Singapore government has implemented policies and incentives, such as a rebate of SGD 20,000 for fully electric vehicles, which is expected to influence the market for electric vehicles[76] - The group plans to leverage advancements in repair equipment and vehicle engine technology to support the growth of the passenger car maintenance market in Singapore[76] Other Information - The report will be available on the Hong Kong Stock Exchange website for at least seven days from the date of publication[3] - The company has not purchased, sold, or redeemed any of its listed securities during the three months ended March 31, 2019[86] - The company has adopted a share option scheme, but no options were granted during the three months ended March 31, 2019[87] - The company has made amendments to its articles of association effective April 4, 2019, to reflect the new share capital structure and facilitate the operation of the co-chairman framework[97]

Financial Performance - The company reported a significant increase in revenue for the year ending December 31, 2018, with total revenue reaching HKD 100 million, representing a growth of 25% compared to the previous year[10]. - The group's revenue increased from approximately SGD 14.0 million for the year ended December 31, 2017, to approximately SGD 17.6 million for the year ended December 31, 2018, representing a growth of approximately SGD 3.6 million or 25.7%[11]. - The group recorded a loss of approximately SGD 3.8 million for the year ended December 31, 2018, compared to a loss of approximately SGD 2.0 million for the year ended December 31, 2017[11]. - The company reported a net profit margin of 12%, indicating strong financial health and operational efficiency[10]. - The group's revenue increased by approximately SGD 3.6 million or 25.7% from about SGD 14.0 million for the year ended December 31, 2017, to about SGD 17.6 million for the year ended December 31, 2018, primarily due to the expansion of the Sin Ming Autocity service center[24]. User and Market Growth - User data showed a 30% increase in active users, reaching 1.5 million by the end of the reporting period[10]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% based on current market trends and user acquisition strategies[10]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 15% market share within the next two years[10]. - New product launches are expected to contribute an additional HKD 15 million in revenue, with a focus on enhancing user experience and expanding product offerings[10]. Strategic Initiatives - Research and development investments increased by 10%, focusing on innovative technologies to improve operational efficiency[10]. - The company is considering strategic acquisitions to enhance its market position, with potential targets identified in the technology sector[10]. - A new marketing strategy was introduced, aiming to increase brand awareness and customer engagement by 40% over the next year[10]. - The group aims to expand its service and product offerings to maintain its position as a leading automotive service provider in Singapore[12]. Corporate Governance - The board of directors emphasized the importance of corporate governance and compliance, ensuring transparency and accountability in all operations[10]. - The company has adopted a corporate governance policy to ensure high standards of governance, which is crucial for sustainable growth and maximizing shareholder interests[68]. - The board has implemented a diversity policy, considering factors such as gender, age, cultural background, and professional experience to achieve board diversity[69]. - The company has established a robust financial team to support its operations and strategic initiatives[62]. Employee and Operational Developments - Employee-related expenses increased from approximately SGD 5.1 million for the year ended December 31, 2017, to approximately SGD 5.7 million for the year ended December 31, 2018[11]. - The company hired 26 new employees, including 18 technical staff, to enhance service capacity and improve human resource value[41]. - The company plans to continue retaining experienced employees while seeking suitable talent to enhance human resource value[41]. - The company integrated a new payroll system and an ERP system tailored for the automotive industry to improve operational efficiency[41]. Risk Management and Compliance - The company has established policies and procedures to identify, assess, and manage significant risks, with the board responsible for maintaining the effectiveness of the risk management and internal control systems[104]. - The company has a policy in place to ensure that all employees comply with insider trading regulations and are kept informed of the latest regulatory updates[104]. - The company reported no violations of relevant laws and regulations during the year, ensuring compliance with environmental and safety standards[168]. Shareholder and Financial Policies - The board proposed not to declare any dividends for the year ended December 31, 2018, consistent with the previous year[125]. - The company has established a shareholder communication policy to enhance transparency and investor confidence[116]. - The company has distributable reserves of approximately SGD 3.3 million, down from SGD 4.7 million as of December 31, 2017[174]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the year ended December 31, 2018[132]. Audit and Financial Reporting - The financial statements have been audited in accordance with International Financial Reporting Standards, reflecting a true and fair view of the group's financial position as of December 31, 2018[193]. - The audit report highlights key audit matters, including trade receivables and obsolete inventory provisions, which are critical to the financial statements[195]. - The independent auditor, Ernst & Young, has been retained since the company's listing and will be proposed for reappointment at the upcoming annual general meeting[189].