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） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 中 期 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」）截至二零二三年六月三十日止六個月之未經審 核簡明綜合財務業績。本公告列載本集團二零二三年中期報告全文（「中期報 告」），乃符合香港聯合交易所有限公司（「聯交所」）GEM證券上市規則（「GEM上 市規則」）中有關中期業績初步公告附載的資料之相關要求。中期報告的印刷版 本將按GEM上市規則規定的方式適時寄發予本公司股東，並可於聯交所網站 http://www.hkexnews.hk及本公司網站www.zhongshiminanholdings.com/閱覽。 承董事會 ...

Financial Performance - The company's revenue for Q1 2023 was SGD 6,668,000, representing a 20.8% increase from SGD 5,519,000 in Q1 2022[9] - The pre-tax profit for Q1 2023 was SGD 600,000, up 81.8% from SGD 330,000 in the same period last year[9] - The net profit for Q1 2023 was SGD 600,000, compared to SGD 295,000 in Q1 2022, marking a 102.5% increase[9] - The total comprehensive income for Q1 2023 was SGD 610,000, which is a 106.8% increase from SGD 295,000 in Q1 2022[9] - Basic and diluted earnings per share for Q1 2023 were SGD 0.022, up from SGD 0.015 in Q1 2022, reflecting a 46.7% increase[9] - The profit for the period was approximately 0.60 million Singapore dollars, a significant increase from approximately 0.29 million Singapore dollars in the same period of 2022, primarily due to the overall increase in revenue, especially from new business contributions in mainland China[30] - The basic earnings per share for the three months ended March 31, 2023, was 0.022 Singapore cents, compared to 0.015 Singapore cents for the same period in 2022[28] - The company achieved a profit of approximately SGD 0.60 million for the three months ended March 31, 2023, compared to a profit of approximately SGD 0.29 million for the same period in 2022, driven by overall revenue growth, particularly from new operations in mainland China[42] Revenue Sources - Revenue from the passenger car service sector, including maintenance and modification services, contributed approximately 87% of total revenue for the period ended March 31, 2023[30] - The Singapore business revenue increased by 5.4% to 5.77 million Singapore dollars during the same period[30] - For the three months ended March 31, 2023, the company's revenue increased by approximately SGD 1.15 million or 20.8% to approximately SGD 6.67 million, primarily due to additional revenue of SGD 0.90 million from new business in mainland China[37] Cost Management - The company's material costs for Q1 2023 were SGD 3,345,000, slightly up from SGD 3,299,000 in Q1 2022[9] - The company's material costs increased only by approximately SGD 0.05 million or 1.4%, despite a significant revenue increase, indicating effective cost management[38] - Employee benefits expenses increased to SGD 1,731,000 in Q1 2023 from SGD 1,332,000 in Q1 2022, representing a 30% rise[9] - Employee benefits expenses rose by approximately SGD 0.40 million or 30% to approximately SGD 1.73 million, reflecting the company's decision to expand its workforce to support business growth and operations in mainland China[39] - Other expenses surged by approximately SGD 0.56 million or 330% to approximately SGD 0.73 million, primarily due to higher professional fees and additional operational costs from new subsidiaries in mainland China[41] Financial Position - The total equity attributable to owners of the company as of March 31, 2023, was SGD 8,019,000, an increase from SGD 7,923,000 as of March 31, 2022[10] - The company has maintained a strong financial position with total assets and liabilities reflecting stable growth trends[12] - The group had no pledged assets as of March 31, 2023[49] Corporate Governance - The group did not recommend any dividends for the three months ended March 31, 2023, consistent with the previous year[27] - The board does not recommend the payment of any dividends for the three months ended March 31, 2023[59] - No significant related party transactions were entered into during the three months ended March 31, 2023[47] - The group did not engage in any major investments, acquisitions, or disposals during the three months ended March 31, 2023[57] Market and Industry Insights - The group operates as a leading automotive service provider in Singapore with over 18 years of experience in the passenger car service industry[30] - The Singapore government's vehicle ownership policy limits the issuance of new vehicle ownership certificates, impacting the supply and demand dynamics in the automotive market[33] - By 2030, Singapore aims to install 60,000 electric vehicle charging points to promote the adoption of electric vehicles, which may influence the company's service offerings in the automotive sector[34] - The company is expanding into the new smart kitchen segment, integrating various business models including offline retail, takeaway, and SaaS+ services, aiming to become a leading platform in the global pre-prepared food industry[35] Compliance and Standards - The group has not adopted new or revised International Financial Reporting Standards that have been issued but are not yet effective[14] - The group’s financial statements are prepared in accordance with International Financial Reporting Standards and presented in Singapore dollars[16] - The group is subject to a 17% tax rate on estimated profits generated in Singapore and a 25% tax rate on estimated profits generated in China[23][24] - The group has not used any hedging financial instruments to mitigate foreign exchange risks as of the report date[50] Shareholder Information - As of March 31, 2023, the total number of issued shares is 2,000,000,000[1] - Mr. Li Jie holds a beneficial interest of 586,020,000 shares, representing 29.3% of the company's equity[46] - Ms. Han Mei, as a spouse of Mr. Li Jie, also holds 586,020,000 shares, representing 29.3% of the company's equity[46] - Ms. Li Lidan holds a beneficial interest of 120,810,000 shares, representing 6.04% of the company's equity[46] Future Outlook - The company will continue to pursue technological advancements in maintenance equipment and new engine types to prepare for market developments in the automotive sector[34] - The group has not reported any significant events related to the group's business or financial performance after the reporting period[58]

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 一 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」）截至二零二三年三月三十一日止三個月之未經 審核簡明綜合財務業績。本公告列載本集團二零二三年第一季度報告全文，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 有關第一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，二零二三年五月十二日 ...

Financial Performance - The company's revenue increased by approximately SGD 3.4 million or 16.6% to about SGD 23.6 million for the year ended December 31, 2022, compared to approximately SGD 20.2 million for the year ended December 31, 2021[9]. - The loss for the year ended December 31, 2022, was approximately SGD 0.1 million, a decrease from a loss of approximately SGD 0.5 million for the year ended December 31, 2021[9]. - The increase in revenue was primarily due to a SGD 1.2 million increase in automotive service revenue in Singapore and a new revenue source of approximately SGD 2.2 million from the sale of kitchen appliances and food in mainland China[9]. - The company's revenue increased from approximately SGD 20.2 million to approximately SGD 23.6 million, representing a growth of 16.6%[20]. - Revenue from the Singapore automotive services business rose by SGD 1.2 million to SGD 21.4 million, while the new business in mainland China contributed SGD 2.2 million[20]. - The company recorded a loss of approximately SGD 0.1 million for the year ended December 31, 2022, a decrease from a loss of approximately SGD 0.5 million in the previous year[20]. - Other income increased by approximately SGD 0.4 million or 55.9% to approximately SGD 1.1 million, primarily due to a gain of SGD 0.5 million from the sale of a subsidiary[21]. - The company reported a pre-tax profit of SGD 102,000 for 2022, a significant improvement compared to a pre-tax loss of SGD 441,000 in 2021[185]. - The net loss for the year was SGD 73,000, a reduction from a net loss of SGD 559,000 in the previous year, indicating a 87.9% improvement[185]. - Total revenue for the year ended December 31, 2022, was SGD 23,593,000, an increase of 16.5% from SGD 20,233,000 in 2021[185]. Operational Insights - The total number of vehicles in Singapore as of December 31, 2022, was 995,746, according to the Land Transport Authority[10]. - The company aims to maintain competitiveness and gain market share in Singapore's automotive market by leveraging its services, brand, and talent[10]. - The company acknowledges the uncertain factors in the automotive market due to the vehicle and motorcycle zero growth policy implemented since February 2018[10]. - The company aims to expand its product and service offerings both in Singapore and overseas, focusing on new business opportunities[17]. - The company is preparing for the market shift towards electric vehicles by pursuing technological advancements in maintenance equipment and new engine types[17]. - The Singapore government plans to install 60,000 electric vehicle charging points by 2030 to promote electric vehicle adoption[17]. - The company operates primarily in automotive maintenance, modification, and sales, as well as smart kitchen appliance development and sales[196]. - The company operates in various segments, including vehicle maintenance, automotive financing services, and smart kitchen appliance development and sales[114]. Employee and Management - Employee benefits expenses increased by approximately SGD 0.6 million or 9.6% to approximately SGD 7.0 million, mainly due to annual salary increases and hiring new staff[23]. - The total number of full-time employees decreased to 144 as of December 31, 2022, from 160 as of December 31, 2021[32]. - The company expresses gratitude to employees, management team, customers, shareholders, and business partners for their support over the years[11]. - The company emphasizes customer feedback and conducts regular analysis to improve service quality[153]. Governance and Compliance - The company is committed to high standards of corporate governance, having adhered to applicable governance codes throughout the fiscal year[62]. - The board consists of nine directors, including three independent non-executive directors, promoting critical review and oversight of management processes[66]. - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[70]. - The board has established various committees to support its governance responsibilities, including the audit and remuneration committees[76]. - The company has established a remuneration committee to review compensation policies based on performance and market practices[142]. - The company has adopted a shareholder communication policy to enhance transparency and investor confidence, utilizing multiple communication channels[109]. - The company has a whistleblowing policy applicable to all directors and employees, providing a confidential channel for reporting misconduct[98]. - The anti-corruption policy prohibits any form of corruption, bribery, extortion, fraud, or money laundering, and is part of the corporate governance framework[99]. Financial Position - As of December 31, 2022, the group's cash and bank balances were approximately SGD 3.0 million, down from SGD 4.1 million as of December 31, 2021[28]. - The asset-to-equity ratio was 0.3 as of December 31, 2022, compared to 0.4 as of December 31, 2021, indicating a decrease in leverage[29]. - The group currently has no foreign currency hedging to mitigate exchange rate fluctuation risks[30]. - The company reported a total equity of SGD 7,576,000 in 2022, down from SGD 7,628,000 in 2021, a decline of 0.68%[188]. - The company’s total liabilities increased to SGD 12,162,000 in 2022 from SGD 10,088,000 in 2021, an increase of 20.56%[187]. - The company incurred financial expenses of SGD 99,000 in 2022, down from SGD 202,000 in 2021, a decrease of 50.0%[185]. - The company has complied with relevant laws and regulations that significantly impact its business and operations[167]. Shareholder Information - The total number of issued shares was 2,000,000,000 as of December 31, 2022[129]. - Major shareholders include Mr. Li Jie with 586,020,000 shares (29.3%) and Ms. Han Mei with the same number of shares due to spousal rights[138]. - The company has a stock option plan that allows for the issuance of up to 200,000,000 shares, which is 10% of the total issued shares as of the report date[134]. - The stock option plan is designed to incentivize and retain talented employees, aligning their interests with the company's growth[131]. - The board proposed not to declare any dividends for the year ended December 31, 2022, consistent with the previous year[118]. 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[92]. - The Risk Management Committee conducted 1 meeting in the year ended December 31, 2022, reviewing the group's risk management and internal control mechanisms, including ESG risks[81]. - The company has established a framework for risk management policies and standards, including monitoring legal risks related to sanctions[81].

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。 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 二 年 年 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（「本集團」）截至二零二二年十二月三十一日止年度之經審核綜 合財務業績。本公告列載本公司二零二二年年度報告全文，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」）中有關年度業績初 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、執行董事兼行政總裁 王雷 香港，二零二三年三月二十八日 ...

Financial Performance - For the three months ended September 30, 2022, the company reported revenue of SGD 1,200,000, compared to SGD 1,000,000 for the same period in 2021, representing a 20% increase[23]. - For the nine months ended September 30, 2022, the company achieved revenue of SGD 3,500,000, up from SGD 2,800,000 in 2021, indicating a growth of approximately 25%[23]. - Revenue for the quarter was SGD 6,654 million, an increase of 15.6% compared to SGD 5,753 million in the same quarter last year[26]. - Gross profit before tax was SGD 285 million, up from SGD 213 million, representing a 33.8% increase year-over-year[26]. - Net profit for the period was SGD 221 million, compared to SGD 179 million, reflecting a 23.5% increase[26]. - Earnings per share for ordinary shareholders was SGD 0.011, an increase from SGD 0.009 in the previous year[26]. - Total comprehensive income for the period was SGD 211 million, compared to SGD 174 million, marking a 21.3% increase[26]. - The company reported a total revenue of SGD 17,757 million for the nine months, up from SGD 16,548 million, indicating a growth of 7.3%[26]. - The group recorded a loss of approximately SGD 0.04 million for the nine months ended September 30, 2022, compared to a profit of SGD 0.46 million for the same period in 2021[69]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 15% increase in market share by the end of 2023[24]. - New product development initiatives are expected to contribute an additional SGD 500,000 in revenue for the next quarter, driven by innovative offerings in the food sector[24]. - The company is exploring potential acquisition opportunities to enhance its product portfolio and market reach, with a focus on companies in the food and beverage sector[24]. - The company plans to expand its electric vehicle charging infrastructure in Singapore, aiming to increase the number of charging stations from approximately 2,000 to 60,000 by 2030[61]. - The group aims to maintain its leadership position in the Singapore passenger car market by retaining existing customers and acquiring new ones[63]. - The group plans to expand its service and product offerings in response to changing customer demands and trends in the Singapore and China markets[63]. Operational Efficiency and Costs - The company has allocated SGD 200,000 for research and development in new technologies aimed at improving operational efficiency[24]. - Employee benefits expenses increased to SGD 1,872 million from SGD 1,405 million, a rise of 33.3%[26]. - Employee costs increased by approximately SGD 0.6 million due to the new subsidiary in China[66]. - Other expenses increased by approximately SGD 0.8 million due to professional fees and additional operating expenses from the new subsidiary in China[68]. - Material costs increased in line with revenue growth compared to the same period last year[65]. Corporate Governance and Compliance - The board of directors remains committed to maintaining transparency and accuracy in financial reporting, ensuring compliance with GEM listing rules[24]. - The company has adopted a code of conduct for directors regarding securities trading, confirming compliance with the GEM Listing Rules from January to September 2022[83]. - The company has complied with all applicable provisions of the corporate governance code during the reporting period[84]. - The roles of the co-chairman and CEO are held by the same individual, which the board believes ensures consistent internal leadership[84]. - The board will continue to review the separation of the roles of chairman and CEO at an appropriate time[84]. Customer Engagement and Marketing - User data indicates a 30% increase in customer engagement through digital platforms, reflecting successful marketing strategies implemented in the past quarter[24]. Financial Guidance and Future Outlook - The management has provided guidance for the next quarter, projecting revenue growth of 10% based on current market trends and consumer demand[24]. - The company has not yet adopted new or revised international financial reporting standards that have been issued but are not yet effective[32]. - There have been no significant events affecting the group after the reporting period up to the date of this report[88]. Dividend and Shareholder Information - The company does not recommend any dividend payment for the nine months ended September 30, 2022[44]. - The board does not recommend any dividend payment for the nine months ending September 30, 2022, consistent with the previous year[89]. - The company expresses gratitude to shareholders, business partners, and customers for their ongoing support[90].

ZHENG LI HOLDINGS LIMITED 正 力 控 股 有 限 公 司 (於爾曼群島註冊成立的有限公司) 股份代號 : 8283 中 期 報 告 2022 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司帶有較 高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出 投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受較大的市場 波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本報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。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關正力控股有限 公司（「本公司」）的資料。本公司董事（「董事」）願就本報告共同及個別地承擔全部責任。董事在作出一 切合理查詢後，確認就其所知及所信，本報告所載資料在各重大方面均屬準 ...

Financial Performance - The unaudited financial results for the year ended December 31, 2021, show a net loss of SGD 559,000, adjusted from a previous loss of SGD 66,000[4] - The company reported a total comprehensive loss of SGD 569,000 for the year, adjusted from a previous total of SGD 74,000[4] - The company reported a loss attributable to owners of the company of SGD 559,000, which is a decrease of SGD 493,000 compared to the previous period[8] Assets and Liabilities - Total current assets amounted to SGD 13,267,000, reflecting a decrease of SGD 7,000 from the previous report[4] - The total liabilities decreased to SGD 8,039,000, down by SGD 780,000 compared to the prior period[4] - Non-current assets increased to SGD 6,449,000, with an adjustment of SGD 167,000[4] - Total assets amounted to SGD 19,716,000, reflecting an increase of SGD 160,000 compared to the previous period[8] - Total liabilities reached SGD 12,088,000, which is an increase of SGD 655,000 from the prior period[8] - The total value of non-current liabilities rose to SGD 4,049,000, an increase of SGD 1,435,000[6] - The total value of unallocated assets was SGD 28,000 after adjustments[8] - The total value of unallocated liabilities increased to SGD 2,291,000, reflecting an increase of SGD 317,000[8] Employee Expenses - Employee benefit expenses were adjusted to SGD 6,365,000, an increase of SGD 424,000[4] - Employee costs (excluding directors and highest-paid executives) were SGD 6,344,000, showing an increase of SGD 2,126,000[8] Financial Expenses - Financial expenses were reported at SGD 202,000, adjusted from SGD 195,000[4] - The financial expenses related to lease liabilities were SGD 57,000, an increase of SGD 6,000[8] Tax and Auditing - The company incurred a tax expense of SGD 118,000, which is a decrease of SGD 178,000 from the previous period[8] - The company’s financial statements have been audited by Zhongzheng Tianheng Accounting Firm, confirming the accuracy of the reported figures[11]

ZHENG LI HOLDINGS LIMITED 正 力 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 第一季度報告 2022 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司帶有較 高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出 投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受較大的市場 波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本報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。 本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關正力控股有限 公司（「本公司」）的資料。本公司董事（「董事」）願就本報告共同及個別地承擔全部責任。董事在作出一 切合理查詢後，確認就其所知及所信，本報告所載資料在各重大方面均屬準確 ...

Financial Performance - The group's revenue decreased by approximately SGD 0.2 million or -0.9% to about SGD 20.2 million for the year ended December 31, 2021, compared to approximately SGD 20.4 million for the previous year[10]. - The group recorded a loss of approximately SGD 0.5 million for the year ended December 31, 2021, compared to a profit of approximately SGD 1.1 million for the previous year[10]. - The loss was primarily due to a decrease in other income by approximately SGD 1.7 million, including a reduction in government subsidies of about SGD 0.8 million[10]. - The gross profit decreased by approximately SGD 0.5 million due to a slight decrease in revenue and a slight increase in material costs[10]. - The company's revenue for the year ended December 31, 2021, decreased by approximately SGD 0.2 million or -0.9% to approximately SGD 20.2 million compared to SGD 20.4 million for the year ended December 31, 2020[15]. - The group recorded a loss of approximately SGD 0.5 million for the year ended December 31, 2021, compared to a profit of approximately SGD 1.1 million for the year ended December 31, 2020[16]. - The decrease in other income by approximately SGD 1.7 million was a major factor contributing to the loss, including a reduction of approximately SGD 0.8 million in government subsidies[16]. - The gross profit decreased by approximately SGD 0.5 million due to a slight decrease in revenue and a slight increase in material costs[16]. - Material costs increased by approximately SGD 0.3 million or 2.8% to approximately SGD 10.8 million for the year ended December 31, 2021[25]. - Employee benefits expenses increased by approximately SGD 0.2 million to approximately SGD 6.3 million for the year ended December 31, 2021[26]. - The increase in tax expenses for the year was approximately SGD 0.1 million compared to the previous year[30]. Market and Operational Outlook - The company aims to expand services and products in the Singapore and China markets to increase its customer base[11]. - The ongoing COVID-19 pandemic presents uncertainties that may severely disrupt operations in Singapore and China[11]. - The company has implemented a business continuity plan to minimize operational disruptions during the pandemic[11]. - The company remains optimistic about growth opportunities despite macroeconomic and geopolitical headwinds[12]. - The group aims to maintain its leadership position in the Singapore passenger car market through customer retention programs and expanding service and product offerings[22]. - The government of Singapore plans to increase the number of electric vehicle charging points from approximately 2,000 to 60,000 by 2030, which may influence market dynamics[21]. - The group is collaborating with various partners in China to develop a C2N business model for smart shared mobility, with approximately 2,000 private cars registered across multiple cities[21]. - The company will continue to pursue technological advancements in maintenance equipment and new car engine types to enhance service capabilities[21]. Corporate Governance - The company has adopted a board diversity policy to enhance diversity among board members, considering factors such as gender, age, cultural background, and professional experience[73]. - The company has complied with all applicable corporate governance code provisions as of December 31, 2021[72]. - The company has a nomination policy in place to guide the nomination committee in selecting qualified candidates for the board[75]. - The board believes that having the same person serve as both the co-chairman and CEO ensures effective leadership and strategic planning[71]. - The company has a strong commitment to high standards of corporate governance, which is deemed essential for sustainable growth and maximizing shareholder value[71]. - The independent non-executive directors are expected to attend shareholder meetings to gain a balanced understanding of shareholder views[71]. - The company has a compliance officer who is also an executive director, ensuring adherence to regulatory requirements[69]. - The company has a diverse senior management team with extensive experience in finance and auditing[66]. - The company has experienced independent non-executive directors with backgrounds in real estate and information technology[62][63]. - The company has a strong focus on internal financial controls and budget management, led by its CFO[66]. - The company adopted a dividend policy on March 15, 2019, considering factors such as current and future business performance, capital requirements, and overall economic conditions when deciding on dividend distribution[79]. - The board of directors is responsible for overseeing the company's strategic direction, financial performance, and major transactions, including acquisitions and capital expenditures[83]. - As of December 31, 2021, the board included both executive and non-executive directors, with specific roles and responsibilities outlined in the corporate governance report[81]. - The audit committee, established on October 21, 2016, consists of three independent non-executive directors and is responsible for reviewing the financial reporting process and internal control systems[92]. - The company ensures compliance with GEM listing rules by maintaining at least three independent non-executive directors, with one possessing appropriate professional qualifications[90]. - The board has implemented a code of conduct for directors regarding securities trading, ensuring adherence to GEM listing rules[80]. - The company evaluates the independence of its non-executive directors annually, confirming their compliance with GEM listing regulations[90]. - The board conducts regular informal meetings between executive and non-executive directors to leverage their expertise for the company's operations[87]. - The company is committed to maintaining proper accounting records to ensure accurate financial disclosures to shareholders[83]. - The board's responsibilities include communicating with key stakeholders, including shareholders and regulatory bodies, regarding financial performance and dividend recommendations[83]. - The audit committee held 5 meetings during the year ended December 31, 2021, reviewing the group's quarterly, interim, and annual financial performance[93]. - The remuneration committee held 3 meetings, discussing discretionary bonuses for executive directors and senior management for the 2020 fiscal year[94]. - The nomination committee also held 3 meetings, evaluating the independence of independent non-executive directors and recommending the reappointment of retiring directors[97]. - The risk management committee conducted 1 meeting, reviewing the group's risk management and internal control mechanisms[98]. - The board of directors is required to hold at least 4 regular meetings annually, with approximately one meeting per quarter[99]. - The board is responsible for preparing financial statements that fairly reflect the group's business status, with no known significant uncertainties affecting the company's ability to continue as a going concern[106]. - The company provided ongoing professional development for all directors to ensure they are updated on the company's performance and financial status[103]. - The independent auditor's responsibility is to express an independent opinion on the financial statements prepared by the board[106]. - The remuneration committee's main responsibilities include formulating and reviewing the remuneration policy for directors and senior management[94]. - The company has adopted appropriate accounting policies consistently and made reasonable judgments and estimates in preparing the financial statements[106]. - The company delayed the publication of its Q3 2020 results due to waiting for financial data from its major subsidiary in Singapore, which subsequently delayed the annual results for 2020 and the Q1 and mid-year results for 2021[107]. - The auditor's fees for the year ending December 31, 2021, amounted to SGD 194,000 for audit services, with no fees for non-audit services[108]. - The board is responsible for corporate governance functions, including policy formulation and compliance monitoring, as no corporate governance committee has been established[110]. - The company has established policies and procedures to identify, assess, and manage significant risks, with the board overseeing the effectiveness of the risk management and internal control systems[111]. - The company secretary is responsible for ensuring compliance with board procedures and maintaining detailed meeting records for all board and committee meetings[112]. - Shareholders have the right to request the board to convene a special general meeting if they hold at least 10% of the paid-up capital[116]. - The company adopted its revised articles of association in April 2019, with no significant changes reported for the year ending December 31, 2021[121]. Shareholder and Stock Information - The company reported that the sales from its top five customers accounted for approximately 15.8% of total sales for the year ended December 31, 2021, with the largest customer contributing about 5.6%[130]. - The procurement amount from the top five suppliers represented around 31.3% of total procurement for the year ended December 31, 2021, with the largest supplier accounting for 7.9%[130]. - The company did not declare any dividends for the year ended December 31, 2021, consistent with the previous year[132]. - The company has not made any significant charitable donations during the year ended December 31, 2021, similar to the previous year[133]. - The company operates in several business segments, including passenger car maintenance and repair, performance modification, automotive financing services, and sales platforms[125]. - The company faces significant risks related to its reputation and consumer perception of service quality, which could adversely affect its financial condition and business results[126]. - Regulatory restrictions in Singapore regarding vehicle ownership and usage may significantly impact the company's business operations[129]. - The company has adopted a shareholder communication policy to enhance transparency and investor confidence[122]. - The board of directors includes both executive and independent non-executive members, with specific terms of service agreements in place[140][145]. - The company has not engaged in any buybacks or redemptions of its listed securities during the year ended December 31, 2021[138]. - As of December 31, 2021, the company had a total of 2,000,000,000 shares issued, with key executives holding approximately 0.04% each[148]. - Major shareholder Li Jie holds 586,020,000 shares, representing 29.3% of the total shares issued[157]. - The company has a stock option plan that allows for the issuance of up to 200,000,000 shares, which is 10% of the total shares issued as of the report date[152]. - No stock options were exercised, granted, or canceled during the year ending December 31, 2021[153]. - The stock option plan is set to expire on October 20, 2026, and is designed to incentivize and retain talented employees[149]. - The exercise price for stock options will not be lower than the highest of the closing price on the date of offer or the average closing price over the previous five trading days[151]. - The company has not established any arrangements that would benefit directors or their close associates from purchasing shares or debt securities[156]. - The stock option plan complies with the GEM Listing Rules Chapter 23[149]. - The company has no unexercised stock options, warrants, or similar rights as of December 31, 2021[153]. - The company aims to attract valuable human resources through the stock option plan, enhancing its growth and development[149]. - Directors waived a total of 352,000 Singapore dollars in remuneration for the year ended December 31, 2021[159]. - The company maintained compliance with GEM listing rules regarding public float since its listing date[163]. - There were no significant acquisitions or disposals of subsidiaries or associates during the year ended December 31, 2021[176]. - The company reported no available reserves for distribution as of December 31, 2021, compared to approximately 1.5 million Singapore dollars as of December 31, 2020[175]. - The company confirmed that all independent non-executive directors are independent and meet the specific independence guidelines under GEM listing rules[180]. - There were no related party transactions that required compliance with GEM listing rules during the year ended December 31, 2021[162]. - The company adhered to all relevant laws and regulations without any significant violations during the reporting period[187]. Audit and Financial Reporting - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2021[192]. - The new auditor, Zhongzheng Tianheng CPA Limited, was appointed effective July 9, 2021, following the resignation of Ernst & Young[189]. - The financial statements were prepared in accordance with the International Financial Reporting Standards and the Hong Kong Companies Ordinance[192]. - The audit process included evaluating the management's assumptions and estimates used in determining expected credit losses[198]. - The group’s management is responsible for significant judgments and estimates related to the impairment assessment of trade receivables and third-party loans[197]. - The audit committee reviewed the accounting principles adopted by the group and discussed internal controls and financial reporting matters[186]. - The group’s trade receivables amounted to SGD 967,000 as of December 31, 2021, with an expected credit loss provision of SGD 62,000[197]. - The group’s third-party loans totaled SGD 1,618,000 as of December 31, 2021, with no expected credit loss provision made[197]. - Trade receivables and third-party loans accounted for 5% and 8% of the group’s total assets, respectively, as of December 31, 2021[197]. - The group established a provision matrix based on historical credit loss experience to calculate expected credit losses for trade receivables and third-party loans[197]. - The company provided a healthy and safe working environment for employees, with no reported strikes or workplace accidents during the year[172]. - There were no significant events affecting the group since the end of the reporting period[182].