Financial Performance - The group's revenue for the fiscal year ending December 31, 2024, was SGD 87.8 million, a decrease of approximately SGD 17.5 million compared to SGD 105.3 million in the fiscal year 2023[9]. - The decline in revenue was primarily attributed to a reduction of about SGD 17.0 million from the mainland China automotive trade business[9]. - Automotive supply revenue decreased by approximately SGD 17.7 million to about SGD 69.7 million for the fiscal year 2024, compared to SGD 87.4 million in fiscal year 2023[12]. - Total revenue for fiscal year 2024 was SGD 87.8 million, down from SGD 105.1 million in fiscal year 2023, a decrease of approximately SGD 17.3 million[17]. - Other income and gains increased by approximately SGD 0.6 million due to proceeds from the sale of properties, plants, and equipment in fiscal year 2024[18]. - The group recorded a total comprehensive loss of approximately SGD 1.5 million in fiscal year 2024, compared to a loss of SGD 1.3 million in fiscal year 2023[25]. - As of December 31, 2024, the group's distributable reserves amounted to approximately SGD 2.2 million, down from SGD 3.7 million as of December 31, 2023[148]. - The largest customer accounted for about 10% of total revenue, a decrease from 17% in 2023, while the top five customers represented 23% of total revenue, down from 49% in 2023[149]. - The largest supplier accounted for approximately 16% of total costs, an increase from 4% in 2023, and the top five suppliers represented 35% of total costs, up from 12% in 2023[149]. Business Strategy and Growth - The group aims to strengthen existing operations and explore opportunities for growth in sectors such as bio-health, green energy technology, new retail, e-commerce, and franchise management[8]. - The company is actively seeking business expansion opportunities in other regions of China and overseas[9]. - The group aims to enhance its position in the automotive after-sales service business and rental services in Singapore while increasing market share in mainland China[13]. - The company is exploring feasible equity investments or business segments for expansion, including biocare, green technology, e-commerce, and new energy businesses[13]. - The group plans to diversify income sources by expanding local revenue streams, such as car rentals, and seeking opportunities in the electric vehicle sector[33]. - The group has increased its rental fleet in response to restrictions on vehicle ownership certificates and rising car prices, indicating a shift in consumer preferences towards rentals[34]. Corporate Governance - The board emphasizes the importance of high corporate governance standards for sustainable growth and has established appropriate policies[67]. - The company has conducted an annual review of the need for an internal audit department, with risk management and internal control systems audited by a third party[68]. - The board retains overall responsibility for major matters, including financial data and significant transactions, ensuring transparency and accountability[70]. - The company has arranged appropriate liability insurance for all directors, which will be reviewed regularly by the board[72]. - The board consists of five executive directors and three independent non-executive directors, ensuring a balanced composition in terms of gender, age, culture, and professional experience[75]. - The board has complied with GEM listing rules by appointing at least three independent non-executive directors, with at least one possessing appropriate professional qualifications in accounting and financial management[77]. - Independent non-executive directors have confirmed their independence in writing according to GEM listing rules, ensuring unbiased judgment in decision-making[78]. - The company has established a nomination committee to recommend candidates for board vacancies and ensure good corporate governance practices[81]. - New directors receive comprehensive training to understand their responsibilities under GEM listing rules and relevant regulations[82]. - The board reviews its mechanisms annually to ensure the provision of independent opinions and advice[78]. - The company has no financial, business, family, or other significant relationships among board members, ensuring independence[77]. - The board will hold an annual general meeting where one-third of the directors will retire and be eligible for re-election[80]. - The company has adopted measures to ensure independent non-executive directors can provide independent views and advice to the board[76]. - The board held a total of 4 meetings during the fiscal year ending December 31, 2024, with all directors actively participating in the decision-making process[87]. - The chairman and CEO roles are held by different individuals, ensuring a clear separation of responsibilities[89]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined terms of reference[90]. - The Remuneration Committee is responsible for recommending overall remuneration for directors and senior management, ensuring no director determines their own pay[91]. - All directors participated in training sessions to enhance their skills and knowledge related to corporate governance and regulatory compliance[83]. - The company encourages all directors to attend relevant training courses, with costs covered by the company[83]. - The board has mechanisms in place to ensure independent opinions and recommendations are provided to enhance governance effectiveness[86]. - The company conducted a meeting between the chairman and independent non-executive directors to discuss matters without the presence of other directors[88]. - Directors are provided with sufficient information and materials at least 14 days prior to meetings to facilitate informed decision-making[84]. - The company maintains records of all board meetings and resolutions for reference by directors at any time[88]. - The remuneration committee consists of three independent non-executive directors, with a total of 5 highest-paid individuals in the group[92]. - The audit committee held 4 meetings during the year ending December 31, 2024, with attendance from senior management[95]. - The nomination committee has conducted 2 meetings and reviewed the financial statements, accounting principles, and risk management systems[96]. - The company has adopted a dividend policy to maintain sufficient cash reserves for operational needs and future business growth[106]. - The company secretary provides support to the board and ensures compliance with governance policies and procedures[107]. - The nomination committee evaluates the current board composition to ensure diversity in gender, age, culture, and professional experience[97]. - The remuneration committee assesses executive directors' performance based on business performance and market conditions[93]. - The company secretary is an external service provider, with an executive director designated as the contact person[108]. - The audit committee's main duties include reviewing financial data, internal controls, and risk management systems[95]. - The company has adopted a risk management framework that includes identifying significant risks in the operating environment and assessing their impact on business[114]. - The audit committee reviewed the internal control system and found it effective and sufficient for the fiscal year ending December 31, 2024[112]. - The company paid S$142,000 for audit services in 2024, a decrease from S$152,000 in 2023[122]. - The board confirmed compliance with the GEM Listing Rules regarding the trading of company securities by all directors for the fiscal year ending December 31, 2024[111]. - The company has implemented a whistleblowing policy to encourage reporting of misconduct, with no significant fraud or misconduct incidents reported for the fiscal year ending December 31, 2024[115]. - The board is committed to maintaining high standards of integrity and ethical behavior as part of its anti-corruption policy[117]. - The internal audit function has not yet been established, but the board will continue to review its necessity annually[113]. - The company has ensured that all insider information is handled confidentially and disclosed in a timely manner according to GEM Listing Rules[119]. - The board has confirmed that there are no significant uncertainties affecting the company's ability to continue as a going concern as of December 31, 2024[123]. - The company has adopted a code of conduct requiring all employees to adhere to high standards of behavior and ethical values[114]. Management and Board Composition - Mr. Hu was appointed as Executive Director on January 6, 2021, and became Chairman on August 15, 2021[53]. - Mr. Hong has approximately 29 years of experience in the automotive industry and has been responsible for overall business development and strategic planning since March 14, 2018[54]. - Ms. Nie has 19 years of corporate management experience and was appointed as Executive Director on May 18, 2020[55]. - Ms. Lin has served on the board of Senmiao Technology Limited since March 2018 and has extensive experience in finance and management[57]. - Mr. Zhang was appointed as an Independent Non-Executive Director on February 25, 2021, and has been the General Manager of a trading company since April 2020[58]. - Mr. Zhu has over 20 years of experience in accounting and corporate secretarial roles, currently serving as the Chairman of the Audit Committee[60]. - Ms. Yi has been an Independent Non-Executive Director since June 30, 2022, and has a background in law with qualifications obtained in 2019[62]. - The company has a diverse board with members holding various qualifications in finance, law, and management, enhancing its governance structure[61]. - The management team has a strong focus on strategic planning and operational oversight to drive business performance[54]. - The company is actively expanding its market presence and exploring new business strategies to enhance growth[62]. - Ms. Dai Xiaoyan appointed as independent non-executive director on April 16, 2024, with over 16 years of sales and corporate management experience[63]. - Mr. Wu Huamin joined as Chief Financial Officer in December 2023, bringing over 10 years of auditing and accounting experience[64]. - Ms. Xu Jiayuan has been the company secretary since September 30, 2021, with over 9 years of experience in corporate governance[65]. Compliance and Risk Management - The company has conducted an annual review of its risk management and internal control systems, with a professional third party responsible for the assessment[188]. - The company has established an audit committee to oversee financial reporting and risk management processes[190]. - The company is committed to environmental sustainability and has adhered to relevant environmental laws and regulations during the year ending December 31, 2024[195]. - There have been no significant violations of applicable laws and regulations that could materially impact the company's business and operations during the year ending December 31, 2024[196]. - The independent auditor, Guowei CPA Limited, has audited the consolidated financial statements for the year ending December 31, 2024, and will be proposed for reappointment at the upcoming annual general meeting[200].

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was SGD 87,839,000, a decrease of 16.4% compared to SGD 105,066,000 in the previous year[3] - The net loss from continuing operations for the year was SGD 1,515,000, compared to a loss of SGD 1,273,000 in the prior year, reflecting an increase in losses[4] - The total comprehensive income for the year was SGD 55,000, a significant improvement from a comprehensive loss of SGD 2,067,000 in the previous year[4] - Revenue from external customers for the automotive supply segment reached SGD 69,684 thousand, contributing to a total revenue of SGD 87,839 thousand for the ongoing business[21] - Total revenue for the fiscal year 2024 was SGD 87.8 million, down from SGD 105.1 million in 2023, a decrease of approximately SGD 17.3 million primarily due to reduced sales of passenger car parts and vehicles[58] - Automotive supply revenue decreased significantly to SGD 69,684 thousand in 2024 from SGD 87,379 thousand in 2023, a decline of 20.2%[30] - The automotive after-sales segment reported a profit of SGD 4,558 thousand, while the automotive leasing segment generated a profit of SGD 1,439 thousand, leading to a total segment profit of SGD 6,718 thousand[21] - The total segment profit for the fiscal year 2023 was SGD 4,915 thousand, with the automotive after-sales segment contributing SGD 3,240 thousand[22] Assets and Liabilities - The group's total assets decreased to SGD 18,755,000 from SGD 22,810,000, indicating a decline of approximately 17.8%[5] - Current assets increased to SGD 12,210,000 from SGD 10,501,000, representing a growth of 16.3%[5] - The net current asset position improved significantly to SGD 3,844,000 from SGD 289,000, showing a substantial increase in liquidity[5] - Total liabilities as of December 31, 2024, were SGD 12,518 thousand, with the automotive after-sales segment accounting for SGD 1,115 thousand[24] - The asset-liability ratio as of December 31, 2024, was 1.1, down from 1.8 in 2023, indicating improved financial stability[66] - The net debt-to-equity ratio improved to 0.2 as of December 31, 2024, compared to 1.0 in 2023, reflecting a stronger balance sheet[66] Equity and Shareholder Information - The total equity attributable to the owners of the company increased slightly to SGD 6,237,000 from SGD 6,182,000[5] - The company has a total issued share capital of HKD 8,500,000, with 850,000,000 ordinary shares outstanding[79] - The company did not declare any dividends for the year ending December 31, 2024, consistent with 2023[45] - The company has no plans to declare a final dividend for the fiscal year ending December 31, 2023[86] Operational Segments - The group has four reportable segments, including one discontinued operation after the sale of Hunan Maliang Digital Technology Co., Ltd. on December 26, 2023[16] - The ongoing business segments include automotive after-sales services, automotive leasing services, and automotive supply business[19] - The discontinued operation was the education business, which involved selling hardware and providing management platform services[20] Compliance and Governance - The financial statements are prepared based on historical cost and comply with the Hong Kong Financial Reporting Standards[9] - The group has adopted revised Hong Kong Financial Reporting Standards, which include clarifications on the classification of liabilities as current or non-current[11] - The group expects no significant impact on the financial position and performance from the application of the revised standards for the current and prior years[14] - The company has complied with all applicable provisions of the corporate governance code during the year ended December 31, 2024[91] - The audit committee, consisting of three independent non-executive directors, has reviewed the audited consolidated financial statements for the year ended December 31, 2024, ensuring compliance with applicable accounting standards and GEM listing rules[94] Future Outlook and Strategy - The company plans to continue its focus on automotive repair and maintenance services, as well as parts supply in Singapore and automotive trading in China[6] - The company aims to enhance its position in the Singapore automotive after-sales service and rental business while increasing market share in China for vehicles and related products[57] - The company is exploring expansion opportunities in sectors such as biocare, green technology, e-commerce, and smart city-related businesses to diversify its market presence in China[57] - The company recognizes the transition risk due to Singapore's government plan to phase out internal combustion engine vehicles by 2040, necessitating adaptation to the electric vehicle market[70] Employee and Cost Management - Employee costs totaled SGD 6,800 thousand in 2024, up from SGD 6,329 thousand in 2023, representing an increase of 7.4%[41] - Unallocated employee costs for the fiscal year 2023 were SGD 2,338 thousand, while unallocated corporate expenses totaled SGD 4,498 thousand[22] - The company has 120 employees as of December 31, 2023, compared to 105 employees in the previous year[85] - Employee benefits expenses increased by approximately SGD 0.5 million to about SGD 6.8 million in 2024, mainly due to an increase in the number of employees[61] Risk Management - The company has no significant credit risk exposure due to trade and other receivables and has implemented a credit policy to monitor and manage this risk[75] - The company has established long-term contracts with landlords to mitigate unforeseen fluctuations in rental expenses[72] - The company has conducted an annual review of its risk management and internal control systems, with a professional third party responsible for the assessment[94] Miscellaneous - The financial statements are presented in Singapore dollars, reflecting the economic characteristics of the group's operations[2] - The group anticipates sufficient resources to continue operating in the foreseeable future, thus adopting the going concern basis for preparing the financial statements[2] - There were no significant events affecting the group from December 31, 2024, to the announcement date[98] - The annual report for the year ended December 31, 2024, will be distributed to shareholders and published on the stock exchange and the company's website[99]

Optima Automobile Group Holdings Limited 傲迪瑪汽車集團控股有限公司 (Incorporated in the Cayman Islands with limited liability) Stock Code: 8418 2024 2024 中期報告 INTERIM REPORT Optima Automobile Group Holdings Limited 傲迪瑪汽車集團控股有限公司 （於開曼群島註冊成立的有限公司） 股份代號 : 8418 香港聯合交易所有限公司（「聯交所」）GEM 之特色 GEM 的定位乃為相較其他於聯交所上市的公司帶有更高投資風險的中小型公司提供一個 上市的市場。潛在投資者應了解投資於該等公司的潛在風險，並應經過審慎周詳考慮後方 作出投資決定。 由於GEM 上市公司一般為中小型公司，於GEM 買賣的證券可能會較於聯交所主板買賣的 證券承受較大的市場波動風險，同時無法保證於GEM 買賣的證券將會存在高流通性市場。 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，並明確表示概不就因本報 ...

Financial Results - Optima Automobile Group Holdings Limited reported its unaudited consolidated financial results for the six months ended June 30, 2024[1]. - The report includes unaudited consolidated income statements, financial position statements, and cash flow statements[2]. - Revenue from continuing operations for the six months ended June 30, 2024, was SGD 31,720,000, a decrease of 41.3% compared to SGD 54,167,000 in the same period of 2023[6]. - Other income and gains increased to SGD 246,000 from SGD 173,000, representing a growth of 42.2% year-over-year[6]. - The loss from continuing operations for the period was SGD 23,000, significantly improved from a loss of SGD 235,000 in the previous year[7]. - Total comprehensive loss for the period was SGD 45,000, compared to a loss of SGD 501,000 in the same period of 2023, indicating a reduction of 91.0%[8]. - The basic and diluted loss per share from continuing operations was SGD (0.003), compared to SGD (0.03) in the previous year[8]. - The group reported a total loss and comprehensive expenses of approximately SGD 23,000 and SGD 45,000 for the period 2024, compared to SGD 235,000 and SGD 224,000 in 2023, indicating a significant reduction in losses[70]. Assets and Liabilities - Non-current assets decreased to SGD 11,045,000 from SGD 12,309,000, reflecting a decline of 10.2%[9]. - Current assets increased to SGD 11,271,000 from SGD 10,501,000, showing a growth of 7.3%[9]. - Current liabilities rose to SGD 11,164,000 from SGD 10,212,000, an increase of 9.3%[9]. - Non-current liabilities decreased to SGD 5,015,000 from SGD 6,416,000, a reduction of 21.9%[10]. - The net asset value as of June 30, 2024, was SGD 6,137,000, slightly down from SGD 6,182,000 at the end of 2023[10]. - The total equity as of June 30, 2024, was SGD 6,137,000, a decrease from SGD 8,351,000 as of January 1, 2023[11]. - The total reserves as of June 30, 2024, were SGD 4,640,000, down from SGD 6,142,000 as of June 30, 2023[11]. Cash Flow and Financing - For the six months ended June 30, 2024, the net cash generated from operating activities was SGD 516,000, an increase from SGD 447,000 in the same period of 2023, representing a growth of 15.4%[13]. - The company reported a net cash decrease of SGD 1,346,000 for the six months ended June 30, 2024, compared to a decrease of SGD 2,167,000 in the same period of 2023, indicating improved cash flow management[13]. - The company’s financing activities resulted in a net cash outflow of SGD 1,926,000 for the six months ended June 30, 2024, compared to SGD 1,765,000 in the same period of 2023[13]. - The group reported a total interest expense of SGD 147,000 for the first half of 2024, which includes SGD 80,000 from lease liabilities and SGD 51,000 from bank borrowings[24]. - Bank borrowings decreased to SGD 2,273,000 as of June 30, 2024, down from SGD 2,833,000 as of December 31, 2023[57]. - The company’s total bank and other borrowings are expected to be repaid as follows: SGD 1,513,000 within one year and SGD 1,429,000 between one and two years[59]. Revenue Sources and Business Operations - The group’s revenue for the period 2024 was SGD 31.7 million, a decrease of approximately SGD 22.5 million compared to SGD 54.2 million in 2023, primarily due to a decline in automobile sales attributed to the economic downturn in mainland China[64]. - The company reported a decrease in automotive supply revenue of approximately SGD 22.4 million to about SGD 22.9 million for the six months ended June 30, 2024, compared to SGD 45.3 million for the same period in 2023[62]. - The automotive after-sales service revenue increased by approximately SGD 0.3 million during the reporting period due to the gradual recovery of the Singapore market[62]. - The group aims to enhance its position in the automotive aftermarket services and short-term and long-term leasing businesses in Singapore, while also increasing market share in mainland China for automobiles and related products[63]. - The group is focusing on diversifying its market entry in China through investments in sectors such as bio-health, green water energy technology, new retail, e-commerce, and insurance brokerage[63]. - The group plans to adapt to the transition towards electric vehicles (EVs) as part of Singapore's Green Plan 2030, which includes initiatives to promote clean energy vehicles[63]. Corporate Governance and Compliance - The company is required to comply with the GEM Listing Rules regarding the preliminary announcement of interim results[2]. - The report is part of the company's commitment to transparency and adherence to regulatory requirements[2]. - The company emphasizes the accuracy and completeness of the information provided in the report, confirming no misleading or fraudulent elements[2]. - The company maintains high standards of corporate governance, adhering to the corporate governance code as per GEM Listing Rules for the six months ending June 30, 2024[98]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards and GEM Listing Rules[99]. - The company has adopted the "Transaction Must Comply Standards" as per GEM Listing Rules, confirming compliance by all directors for the six months ending June 30, 2024[97]. Employee and Operational Metrics - The total employee cost for the six months ended June 30, 2024, is approximately SGD 3.0 million, a decrease from SGD 6.5 million for the same period in 2023[84]. - The company has 124 employees as of June 30, 2024, an increase from 105 employees as of December 31, 2023[84]. - The group maintained employee benefit expenses at approximately SGD 3 million for the period 2024, consistent with the previous year[66]. Shareholder Information - As of June 30, 2024, the total number of issued shares is 850,000,000[87]. - Mr. Hong holds 378,798,000 shares, representing 44.56% of the total shares[86]. - Ms. Lin holds 378,798,000 shares through Red Link, also representing 44.56%[88]. - Mr. Hu holds 56,582,000 shares, representing 6.66% of the total shares[86]. - Ms. Nie holds 18,275,400 shares, representing 2.15% of the total shares[86]. - No shares were bought, sold, or redeemed by the company or its subsidiaries in the six months ending June 30, 2024[93]. - The company has not granted any stock options since the adoption of the stock option plan on September 18, 2019[94]. - The maximum number of stock options that can be granted under the stock option plan is 85,000,000, which is 10% of the total issued shares[95]. Risks and Contingencies - The company has no significant contingent liabilities or unresolved payment obligations related to third parties as of June 30, 2024[81]. - The group has no significant contingent liabilities or commitments as of the reporting date[47]. - The company is actively monitoring its cash flow and ratios to ensure it can meet its debt obligations[75].

Financial Performance - The group's revenue for the fiscal year 2023 was SGD 105.1 million, an increase of approximately SGD 23.8 million compared to SGD 81.3 million in fiscal year 2022, primarily driven by a rise in sales of passenger car parts and vehicles [23]. - The group's revenue for the fiscal year ending December 31, 2023, was SGD 105.3 million, an increase of approximately SGD 23.7 million from SGD 81.6 million in the fiscal year 2022, primarily driven by increased contributions from the automotive trade business in China [42]. - Automotive supply revenue increased by approximately SGD 22.7 million to about SGD 87.4 million in the fiscal year 2023, compared to approximately SGD 64.7 million in the fiscal year 2022, mainly due to increased sales to customers in mainland China [44]. - The total loss and comprehensive expenses for the year 2023 amounted to approximately 1.3 million SGD, compared to 1.1 million SGD in 2022, primarily due to a one-time impairment of 0.9 million SGD in an associate [103]. - The company's net debt-to-equity ratio as of December 31, 2023, is approximately 1.0, raising concerns about its ability to manage debt and meet repayment obligations [94]. Strategic Goals and Expansion - The group aims to enhance its position in the automotive after-sales service sector and short-term and long-term leasing businesses in Singapore while increasing market share in the automotive and related products sales in mainland China [4]. - The group is exploring expansion opportunities in various sectors, including biocare, green water energy technology, new retail, e-commerce, franchise management, insurance brokerage, and pre-prepared food processing to diversify its market presence in China [4]. - The group plans to enhance existing operations and seek opportunities for growth in sectors such as bio-health, green energy technology, new retail, e-commerce, and franchise management to adapt to diversified development in the Chinese market [41]. - The company aims to diversify its income sources by expanding into car leasing and seeking partnerships in other industries [110]. - The group plans to diversify its income sources and increase its rental fleet due to restrictions on vehicle ownership certificates in Singapore, which may impact after-sales service demand [118]. Operational Challenges - The company is facing challenges due to the transition to electric vehicles, which may reduce service and repair volumes [85]. - The group has identified various financial risks, including currency, credit, liquidity, and interest rate risks, which could significantly impact its business and financial condition [79]. - The company has terminated its education business services due to a decline in hardware and equipment sales, with education service revenue decreasing by approximately SGD 84,000 to about SGD 195,000 in the fiscal year 2023 [70]. Financial Management and Risks - The expected credit loss rate for current trade receivables is estimated at 0.1%, down from 0.2% in 2022, while overdue receivables show higher expected loss rates of 2% for 90 days, 3% for 180 days, and 15% for over 365 days [98]. - Credit risk is managed by assessing potential customers' credit quality and defining credit limits, with credit terms ranging from 30 to 90 days [122]. - The company has implemented a credit policy to monitor credit risks and has assigned a team to determine credit limits and assess the credit quality of trade receivables [147]. Employee and Operational Costs - Employee benefits expenses increased from approximately SGD 6.1 million in the fiscal year 2022 to approximately SGD 6.3 million in the fiscal year 2023, primarily due to a slight increase in employee costs [72]. - As of December 31, 2023, the total employee cost was approximately SGD 6.5 million, an increase from SGD 6.3 million in 2022, with the number of employees decreasing from 132 to 105 [154]. Compliance and Governance - The company has maintained compliance with the GEM Listing Rules, except for the internal audit function as per the corporate governance code [180]. - The company has not granted any stock options since the adoption of the stock option plan, and there were no unexercised stock options at the beginning and end of 2023 [199]. Cash Flow and Liquidity - The group maintains a policy of regularly monitoring cash flow needs to ensure sufficient cash reserves and financing from major financial institutions to meet short-term and long-term liquidity requirements [124]. - The group has not encountered significant liquidity issues during the fiscal year ending December 31, 2023 [121]. - Cash and cash equivalents as of December 31, 2023, were approximately 4.9 million SGD, slightly up from 4.8 million SGD in 2022 [104].

Financial Performance - The company's revenue for the fiscal year ended December 31, 2023, was SGD 105,066,000, representing a 29.2% increase from SGD 81,296,000 in the previous year[4]. - The net loss from continuing operations for the year was SGD 1,273,000, compared to a loss of SGD 1,090,000 in the prior year, indicating a 16.8% increase in losses[4]. - Total comprehensive loss for the year amounted to SGD 2,067,000, a decrease from SGD 2,272,000 in the previous year, reflecting a 9.0% improvement[5]. - The adjusted profit before tax for the continuing operations was SGD 4.915 million, compared to SGD 5.108 million in the previous year, indicating a decrease of about 3.8%[25]. - The company reported a loss of SGD 1.437 million before tax, which is an improvement from the loss of SGD 1.929 million in the previous year[25]. - The company reported a loss attributable to owners of the company of SGD 1,260,000 in 2023, a decrease of 15.3% from SGD 1,488,000 in 2022[57]. - The total comprehensive loss for the year 2023 was approximately SGD 1.3 million, compared to SGD 1.1 million in 2022, with the loss primarily due to the one-time impairment of joint venture interests[82]. Revenue Breakdown - Total revenue from external customers for the automotive after-sales service, automotive leasing service, and automotive supply business reached SGD 105.066 million, an increase from SGD 81.296 million in the previous year, representing a growth of approximately 29.2%[23]. - Automotive supply revenue reached SGD 87,379 thousand in 2023, up 35% from SGD 64,742 thousand in 2022[37]. - The company's automotive supply revenue increased by approximately SGD 22.7 million to about SGD 87.4 million for the fiscal year ending December 31, 2023, compared to approximately SGD 64.7 million for the fiscal year ending December 31, 2022[70]. - The increase in automotive supply revenue was primarily due to a rise in sales to customers in mainland China, which contributed approximately SGD 21.5 million[70]. - The company's automotive after-sales service revenue and car rental business revenue increased by approximately SGD 0.6 million and SGD 0.5 million, respectively, due to the gradual recovery of the overall Singapore market[70]. Assets and Liabilities - The company's total assets decreased to SGD 22,810,000 from SGD 25,608,000, a decline of 11.0% year-over-year[6]. - Current liabilities increased to SGD 10,212,000 from SGD 9,336,000, representing a 9.4% rise[6]. - The total liabilities increased to SGD 17.257 million as of December 31, 2023, compared to SGD 16.628 million in the previous year, reflecting an increase of approximately 3.8%[30]. - The equity attributable to owners of the company decreased to SGD 6,182,000 from SGD 8,013,000, a decline of 22.8%[7]. - The total liabilities for the discontinued operations were SGD 185 thousand, indicating a minimal impact on the overall financial position[30]. Operational Highlights - The company has been involved in automotive repair, maintenance, and leasing services, as well as supplying automotive parts and equipment in Singapore and China[9]. - The ongoing business segments include automotive after-sales services, car rental services, and automotive supply business[21]. - The company has terminated its education business segment, which previously contributed SGD 195 thousand in revenue[23]. - The company operates two service centers and one spray painting workshop in Singapore, equipped with advanced diagnostic equipment and facilities[69]. - The company has a significant focus on providing a comprehensive range of automotive-related solutions, including after-sales services, car rental, and parts supply[69]. Employee and Cost Management - Employee costs totaled SGD 4,140 thousand in 2023, compared to SGD 3,016 thousand in 2022, reflecting a 37.3% increase[34]. - The total employee benefits expense increased to SGD 6,329,000 in 2023, up 3.5% from SGD 6,118,000 in 2022[49]. - Unallocated employee costs amounted to SGD 2.338 million, while unallocated corporate expenses were SGD 4.498 million, impacting overall profitability[23]. - The company recorded an impairment of approximately SGD 0.9 million on its interests in joint ventures in 2023, due to worsening political crises and currency devaluation in Myanmar[79]. Cash Flow and Liquidity - The company is actively monitoring cash flow and liquidity to ensure sufficient reserves to meet short-term and long-term funding needs[101]. - As of December 31, 2023, the company's cash and cash equivalents were approximately SGD 4.9 million, slightly up from SGD 4.8 million in 2022[84]. - The company has secured its bank borrowings and vehicle leasing liabilities with corporate guarantees and related asset pledges[105]. Compliance and Governance - The consolidated financial statements were approved by the board on March 28, 2024[10]. - The financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and presented in Singapore dollars[11]. - The audit committee reviewed the consolidated financial statements for the year ending December 31, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[118]. - The company has established an audit committee consisting of three independent non-executive directors, ensuring compliance with GEM listing rules[118]. Future Outlook - The company aims to expand its presence in the automotive after-sales service sector and short-term and long-term leasing businesses, particularly in Singapore and mainland China[72]. - The company is focusing on acquiring new technologies and enhancing automotive expertise to prepare for challenges in new market developments and new vehicle types[72]. - There are no major future investment or capital asset plans disclosed beyond what is mentioned in the outlook section[110].

Financial Performance - For the three months ended September 30, 2023, the company reported revenue of SGD 31,391,000, a 58% increase compared to SGD 19,882,000 for the same period in 2022[35]. - For the nine months ended September 30, 2023, total revenue reached SGD 85,576,000, up 38% from SGD 61,814,000 in the same period last year[35]. - The company incurred a loss before tax of SGD 116,000 for the three months ended September 30, 2023, compared to a loss of SGD 554,000 for the same period in 2022[35]. - The total comprehensive loss for the three months ended September 30, 2023, was SGD 158,000, a decrease from SGD 648,000 in the same period last year[37]. - The company’s total comprehensive loss for the nine months ended September 30, 2023, was SGD (659,000), compared to SGD (1,285,000) for the same period in 2022[37]. - The total loss attributable to owners for the three months ended September 30, 2023, was SGD 104, compared to a loss of SGD 486 for the same period in 2022, indicating a significant improvement[73]. - The company reported a basic and diluted loss per share of SGD 0.06 for the nine months ended September 30, 2023, compared to SGD 0.10 for the same period in 2022[73]. - The company did not recommend any dividend for the nine months ended September 30, 2023, consistent with the same period in 2022[71]. Revenue Breakdown - The automotive supply revenue reached SGD 26,798,000 for the three months ended September 30, 2023, compared to SGD 15,742,000 in the same period of 2022, reflecting a growth of 70%[60]. - The automotive rental income increased to SGD 1,042,000 for the three months ended September 30, 2023, up from SGD 805,000 in the same period of 2022, representing a growth of 29%[60]. - The automotive supply revenue for the nine months ended September 30, 2023, was SGD 72,072,000, up from SGD 49,416,000 in the same period of 2022, indicating a growth of 46%[60]. - For the fiscal year 2023, the group's revenue was approximately SGD 85.6 million, an increase of about SGD 23.8 million compared to SGD 61.8 million in 2022, primarily driven by increased sales of passenger car parts and accessories[81]. - Sales of passenger car parts, accessories, and vehicles to customers in mainland China increased by approximately SGD 21.7 million during the fiscal year 2023[81]. - The group's automotive after-sales service revenue increased by approximately SGD 0.5 million due to market recovery following the easing of COVID-19 restrictions in Singapore[83]. Cost and Expenses - Employee benefits expenses for the three months ended September 30, 2023, were SGD (1,803,000), an increase from SGD (1,666,000) in the same period last year[35]. - The company’s employee benefits expenses for the nine months ended September 30, 2023, totaled SGD 4,818, an increase from SGD 4,612 in the same period of 2022[65]. - The cost of materials used and changes in trade inventory rose from SGD 53.2 million in 2022 to SGD 75.8 million in 2023, an increase of approximately SGD 22.6 million[84]. - The depreciation of property, plant, and equipment for the nine months ended September 30, 2023, was SGD 1,284, an increase of 69.5% from SGD 756 in the same period of 2022[65]. - The interest expense on lease liabilities for the three months ended September 30, 2023, was SGD 44, a decrease of 32.3% from SGD 65 in the same period of 2022[63]. - The total finance costs for the nine months ended September 30, 2023, were SGD 276, down from SGD 353 in the same period of 2022, reflecting a decrease of 21.8%[63]. Ownership Structure - The company has a significant ownership structure, with Red Link holding 54.70% of its shares, which is beneficially owned by Lin Fangfang[27]. - Mr. Hong holds 378,798,000 shares, representing 44.56% of the company's equity[102]. - Ms. Lin also holds 378,798,000 shares, equating to 44.56% ownership[102]. - Mr. Hu owns 56,582,000 shares, which is 6.66% of the total shares[102]. - Ms. Nie has a beneficial ownership of 18,275,400 shares, accounting for 2.15%[102]. - Red Link International Limited, controlled by Mr. Hong and Ms. Lin, holds 378,798,000 shares, representing 44.56%[104]. - Mr. Wu holds 378,798,000 shares as spouse equity, also 44.56%[105]. - Mr. Chong Soo Hoon, Sean owns 46,850,000 shares, which is 5.51%[105]. Strategic Focus - The company aims to enhance its market presence and explore new strategies for growth in the automotive sector[10]. - The management discussed ongoing research and development efforts for new products and technologies to stay competitive in the market[10]. - The company is focused on expanding its operations and exploring potential mergers and acquisitions to drive future growth[10]. - The company continues to focus on expanding its automotive repair and maintenance services in Singapore and automotive trading in China[45]. - The group plans to cautiously expand its automotive after-sales service and rental business in Singapore and increase market share in mainland China[80]. - The group aims to enhance its position in the automotive sector by acquiring new technologies and improving automotive expertise in response to market challenges[80]. Compliance and Governance - The company reported unaudited consolidated financial results for the nine months ended September 30, 2023, indicating compliance with applicable accounting standards and GEM listing rules[12]. - The company is committed to maintaining transparency and has established an audit committee to oversee financial reporting and risk management[11]. - There were no known conflicts of interest among directors or major shareholders in businesses that directly or indirectly compete with the company as of September 30, 2023[30]. - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and presented in Singapore dollars[46]. - The company emphasizes the importance of accurate accounting estimates and assumptions in the preparation of its financial statements[46]. Events and Changes - There were no significant post-reporting date events that would materially affect the financial position of the company[14]. - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2023[31]. - The company has not granted any share options since the adoption of the share option scheme, and there are no unexercised options as of September 30, 2023[6].

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。 Optima Automobile Group Holdings Limited 傲迪瑪汽車集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8418） 第三季度業績公告 截至二零二三年九月三十日止九個月 傲迪瑪汽車集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈 本公司及其附屬公司（統稱為「本集團」）截至二零二三年九月三十日止九個月的 未經審核簡明合併財務業績。本公告載列本公司二零二三年第三季度報告（「二零 二三年第三季度報告」）全文，並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」）有關第三季度業績初步公告隨附資料的相關規定。 二零二三年第三季度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，並可於香港聯合交易所有限公司網站http://www.hkexnews.hk及本公 司網站www.ow.sg閱覽。 承董事 ...

Revenue and Growth - The group's total revenue for the six months ended June 30, 2023, was approximately SGD 54.2 million, an increase of about SGD 12.3 million from approximately SGD 41.9 million in the same period of 2022[9]. - Revenue for the three months ended June 30, 2023, was SGD 31,315 thousand, an increase of 37.2% compared to SGD 22,847 thousand for the same period in 2022[110]. - For the six months ended June 30, 2023, revenue reached SGD 54,185 thousand, up 29.2% from SGD 41,932 thousand in the same period of 2022[110]. - Automotive supply revenue reached SGD 45,274,000 for the six months ended June 30, 2023, up 34.4% from SGD 33,674,000 in the same period last year[134]. - Service revenue for the six months ended June 30, 2023, was SGD 6,614,000, representing an increase of 11.4% compared to SGD 5,935,000 in the previous year[134]. - Automotive rental income for the six months ended June 30, 2023, was SGD 2,088,000, a rise of 24.8% from SGD 1,674,000 in the same period of 2022[134]. Financial Performance - The group recorded a total comprehensive loss of approximately SGD 501,000 for the six months ended June 30, 2023, compared to approximately SGD 637,000 for the same period in 2022[18]. - The company reported a net loss of SGD 387 thousand for the three months ended June 30, 2023, compared to a net loss of SGD 142 thousand for the same period in 2022[111]. - For the six months ended June 30, 2023, the company reported a loss attributable to shareholders of SGD 368,000, compared to a loss of SGD 388,000 for the same period in 2022[149]. - The basic and diluted loss per share for the six months ended June 30, 2023, was SGD (0.04), compared to SGD (0.05) for the same period in 2022[149]. Expenses and Costs - The cost of materials and changes in trade inventories increased by approximately SGD 36.1 million to about SGD 47.7 million in 2023, primarily due to increased supply of automotive parts and equipment to customers in mainland China[11]. - Employee benefits expenses increased by approximately SGD 69,000 due to an increase in total headcount[13]. - Employee benefits expenses totaled SGD 3,015,000 for the six months ended June 30, 2023, an increase from SGD 2,946,000 in the same period of 2022, reflecting a growth of approximately 2.3%[149]. - The company incurred financing costs of SGD 94 thousand for the three months ended June 30, 2023, down from SGD 129 thousand for the same period in 2022[110]. - The company reported a tax expense of SGD 64,000 for the six months ended June 30, 2023, compared to SGD 32,000 for the same period in 2022, indicating a 100% increase[140]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to SGD 28,677 thousand, compared to SGD 25,608 thousand as of December 31, 2022[113]. - The company's cash and cash equivalents were approximately SGD 2.5 million as of June 30, 2023, down from SGD 4.8 million on December 31, 2022[23]. - The total non-current liabilities amounted to SGD 7,573,000, a decrease of 4.4% from SGD 7,921,000 as of December 31, 2022[114]. - The net asset value as of June 30, 2023, was SGD 7,850,000, down 6.0% from SGD 8,351,000 as of December 31, 2022[114]. - The company reported trade receivables of SGD 2,332,000 as of June 30, 2023, an increase from SGD 1,520,000 as of December 31, 2022, representing a growth of approximately 53.3%[193]. Debt and Financing - As of June 30, 2023, the company's debt-to-equity ratio was approximately 1.5, unchanged from December 31, 2022[20]. - The net debt-to-equity ratio increased to approximately 1.2 as of June 30, 2023, compared to 1.0 on December 31, 2022, due to an increase in total debt and a decrease in total equity[20]. - The company reported bank loans totaling SGD 4,747,000 as of June 30, 2023, a decrease from SGD 5,469,000 as of December 31, 2022[76]. - The total bank borrowings as of June 30, 2023, were SGD 4,747,000, down from SGD 5,469,000 as of December 31, 2022, indicating a decrease of 13.2%[82]. - The company is actively monitoring cash flow and financial ratios to ensure it can meet its debt obligations[57]. Strategic Plans and Market Focus - The group plans to cautiously expand its automotive after-sales service business and rental services in Singapore while increasing market share in mainland China[6]. - The company aims to enhance its capabilities in new technologies and equipment to adapt to challenges posed by new market developments and vehicle models[8]. - The company is focusing on diversifying revenue sources, including expanding into car rental and seeking partnerships for electric vehicle services[40]. - The company aims to phase out internal combustion engine vehicles by 2040, transitioning to electric vehicles, which may pose challenges due to reduced service and maintenance needs[40]. - The company continues to focus on expanding its automotive after-sales services and exploring new markets for growth[120]. Corporate Governance and Compliance - The company maintains high standards of corporate governance, adhering to the GEM listing rules and corporate governance code[85]. - The company has established a securities trading code of conduct for directors, ensuring compliance with GEM listing rules[84]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[87]. Joint Ventures and International Expansion - The group has a 40% ownership interest in a joint venture, Absolute By Optima Werkz (Thailand) Co., Ltd., which focuses on automotive maintenance and repair in Thailand[169]. - The group aims to expand its overseas business in Thailand to diversify its country risk[170]. - The company has invested in Optima Werkz Myanmar Services Co., Ltd. to expand its overseas business and diversify country risk, holding a 35% equity interest[178].

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。 Optima Automobile Group Holdings Limited 傲迪瑪汽車集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：8418） 中期業績公告 截至二零二三年六月三十日止六個月 傲迪瑪汽車集團控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然公佈 本公司及其附屬公司（統稱為「本集團」）截至二零二三年六月三十日止六個月的 未經審核簡明合併財務業績。本公告載列本公司二零二三年中期報告（「二零二三 年中期報告」）全文，並符合香港聯合交易所有限公司GEM證券上市規則（「GEM 上市規則」）有關中期業績初步公告隨附資料的相關規定。二零二三年中期報告的 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，並可於香港聯合 交易所有限公司網站http://www.hkexnews.hk及本公司網站www.ow.sg閱覽。 承董事會命 傲迪瑪汽車集團控股有限公司 主 ...