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 2023 第一季度報告 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 傲迪瑪汽車集團控股有限公司（「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，並在作出一切合理查詢後確認， ...

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） 第一季度業績公告 截至二零二三年三月三十一日止三個月 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」）截至二零二三年三月三十一日止 三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一季 度報告（「二零二三年第一季度報告」）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」）有關第一季度業績初步公 告隨附資料的相關規定。二零二三年第一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。 ...

Business Expansion and Acquisitions - The company established a wholly-owned subsidiary, Hunan Optima Automobile Co., Ltd., in Changsha, Hunan, China, to expand its parallel import vehicle trade and related businesses in Central and South China[12]. - The company acquired a total of 53% equity in Hunan Maliang Digital Technology Co., Ltd., which focuses on collecting educational data and providing management platform services for the kindergarten sector in China[12]. - The acquisition of a 53% stake in Hunan Maliang Digital Technology Co., Ltd. contributed to the group's financial performance and strategic expansion into the Chinese market[39]. - The company is actively seeking opportunities to expand its business into other regions of China and overseas[12]. - The group plans to enhance existing businesses and seek opportunities to improve growth prospects, particularly in sectors like biomedicine, new retail, e-commerce, and franchise management[64]. - The group is actively seeking expansion opportunities in the e-commerce sector to adapt to market changes and enhance growth prospects[50]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share in the region by 2025[116]. - A strategic acquisition of a local competitor was completed, valued at $100 million, which is anticipated to enhance operational efficiencies[116]. Financial Performance - The group's revenue for the fiscal year 2022 was SGD 81.6 million, an increase of approximately SGD 24.5 million from SGD 57.1 million in fiscal year 2021[41]. - Automotive supply revenue increased by approximately SGD 22.3 million to about SGD 64.7 million in fiscal year 2022, compared to approximately SGD 42.4 million in fiscal year 2021[49]. - The increase in revenue was primarily attributed to a revenue increase of approximately SGD 21.7 million from the automotive trading business in China and an increase of approximately SGD 2.5 million from subsidiaries in Singapore[59]. - The company reported a significant increase in revenue for the fiscal year ending December 31, 2022, with a total revenue of $500 million, representing a 20% year-over-year growth[116]. - User data showed a 15% increase in active users, reaching 1.2 million by the end of the reporting period[116]. - The company provided guidance for the next fiscal year, projecting a revenue growth of 25%, aiming for $625 million in total revenue[116]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on electric vehicle technology[116]. - The education business generated revenue of approximately SGD 0.3 million in fiscal year 2022, following its addition in fiscal year 2021[49]. Operational Challenges and Market Conditions - The company’s joint venture, Optima Werkz Myanmar Services Co., Ltd., faced operational disruptions due to political unrest but has since resumed business operations[16]. - The group remains cautious about the ongoing impact of the COVID-19 pandemic and the unstable economic environment, focusing on strengthening its position in the automotive after-sales service and short-term and long-term leasing businesses[65]. Environmental Responsibility and Sustainability - The total hazardous waste disposal density decreased by approximately 41% in the fiscal year 2022 compared to fiscal year 2021, primarily due to an increase in revenue used for calculating this density[76]. - The total amount of hazardous waste generated in fiscal year 2022 was 79.31 tons, down from 93.54 tons in fiscal year 2021[76]. - The density of hazardous waste per million revenue (SGD) was 0.97 in fiscal year 2022, compared to 1.64 in fiscal year 2021[76]. - The total amount of non-hazardous waste generated in fiscal year 2022 was 13.51 tons, a decrease of approximately 29% compared to fiscal year 2021[80]. - The density of non-hazardous waste per million revenue (SGD) was 0.17 in fiscal year 2022, down from 0.24 in fiscal year 2021[80]. - Total energy consumption in FY2022 was 726,679.61 kWh, an increase from 675,292.12 kWh in FY2021, representing a 7.4% rise[84]. - The company has implemented energy-saving measures, resulting in a 25% reduction in energy consumption density due to increased revenue[83]. - The company actively promotes water conservation among employees and has implemented measures to reduce water usage[86]. - The company has established an environmental and natural resources policy to manage environmental risks and opportunities[89]. - The company has received approval for its spray painting operations, ensuring compliance with environmental regulations[90]. Corporate Governance and Compliance - The board of directors has approved a dividend payout of $0.10 per share, reflecting a commitment to returning value to shareholders[116]. - Corporate governance practices have been reviewed and updated to ensure compliance with GEM listing rules[119]. - The company has adopted and complied with the corporate governance code applicable to its business activities and decision-making processes as of December 31, 2022[148]. - The board of directors has received all relevant information in a timely manner to ensure compliance with board procedures and applicable regulations in the Cayman Islands and Hong Kong[150]. - The company has established a remuneration committee to review and recommend the overall remuneration of directors and senior management, ensuring no director determines their own remuneration[163]. - The audit committee has met at least four times during the year to consider quarterly reports, interim reports, and annual reports, ensuring effective oversight of financial reporting[165]. - The company has adopted a risk management framework that includes clear operational and reporting procedures, as well as ethical standards for all business operations[176]. - The company has implemented an insider information policy to ensure compliance with disclosure requirements related to insider trading[173]. - Independent non-executive directors have confirmed their independence in accordance with GEM listing rules, ensuring unbiased decision-making[155]. - The roles of the chairman and CEO are held by different individuals, maintaining a clear separation of responsibilities[161]. - The company has conducted training for newly appointed directors to ensure they understand their responsibilities under GEM listing rules and corporate governance codes[157]. - The company has adopted an anti-corruption policy to ensure the highest standards of integrity and ethical behavior in its business operations[179]. - All measurable goals under the board's diversity policy were fulfilled as of December 31, 2022[183]. - The external auditor's fees for audit and non-audit services provided to the company were disclosed in the annual report[182]. Research and Development - Research and development expenses increased by 10% to $30 million, focusing on innovative automotive technologies[116]. - The company is committed to acquiring new technologies and equipment to prepare for challenges in new market developments and new vehicle types, particularly in the context of Singapore's Green Plan 2030[19].

Business Expansion and Diversification - The company reported a focus on providing comprehensive automotive after-sales services, including inspection, maintenance, and repair services[10]. - A wholly-owned subsidiary, Hunan Optima Automobile Co., Ltd., was established in Changsha, China, to expand parallel import vehicle trade and related services in Central and Southern China[12]. - The company acquired a 53% stake in Hunan Maliang Digital Technology Co., Ltd., which focuses on collecting educational data and providing management platform services for the kindergarten sector in China[12]. - The subsidiary Hunan Maliang has been recognized as a high-tech enterprise since 2017 and has signed an increasing number of strategic cooperation agreements with kindergartens and other companies[12]. - The company aims to leverage the acquisition of Hunan Maliang to diversify its business into educational data collection and management platform services in China[12]. - The company is actively seeking opportunities for business expansion in sectors such as bio-health, new retail, e-commerce, and franchise management to adapt to market changes[11]. - The company plans to explore new business opportunities on e-commerce platforms to mitigate the impact of the COVID-19 pandemic on physical stores[11]. - The company aims to provide a "one-stop" quality service for customers, including parallel import vehicles, safety, and flexible vehicle financing options[12]. - The company is committed to improving its growth prospects and expanding its revenue sources through strategic acquisitions and market diversification[12]. Financial Performance - The group's revenue for the fiscal year ended December 31, 2022, was SGD 81.6 million, an increase of approximately SGD 24.5 million from SGD 57.1 million in the fiscal year ended December 31, 2021[14]. - Automotive supply revenue increased by approximately SGD 22.3 million to about SGD 64.7 million in the fiscal year 2022, compared to SGD 42.4 million in the fiscal year 2021[17]. - The group's after-sales service revenue increased by approximately SGD 0.9 million, attributed to the gradual recovery of the overall market in Singapore[17]. - The education business generated approximately SGD 0.3 million in revenue in fiscal year 2022, following its introduction in fiscal year 2021[17]. - Other income and gains for fiscal year 2022 amounted to SGD 0.7 million, up from SGD 0.4 million in fiscal year 2021, primarily due to a one-time sponsorship of SGD 0.2 million received during an anniversary celebration[24]. - The group's revenue for the fiscal year 2022 was SGD 81.6 million, an increase of approximately SGD 24.5 million from SGD 57.1 million in fiscal year 2021[24]. Operational Challenges and Risks - The group remains cautious about the ongoing COVID-19 pandemic and its impact on market conditions and economic stability in 2023[18]. - The company faces significant risks including currency, credit, liquidity, and interest rate risks that could adversely affect its business and financial performance[40]. - The company is actively monitoring cash flow to ensure it can meet its debt obligations, especially with the increase in vehicle rental financing[45]. - The company is facing challenges in maintaining a qualified workforce for electric vehicle maintenance due to potential changes in labor policies in Singapore[44]. Corporate Governance - The company reported a significant focus on corporate governance, adhering to the GEM Listing Rules and ensuring compliance with applicable regulations[93]. - The management team includes experienced professionals with over 29 years in finance and accounting, ensuring robust financial oversight[84]. - The company has a commitment to maintaining high standards of corporate governance, which is deemed crucial for sustainable growth[93]. - The board of directors is responsible for reviewing corporate governance policies annually to ensure compliance with the GEM Listing Rules[93]. - The company has established a compliance framework to oversee its business activities and decision-making processes[93]. - The company has been recognized for its adherence to corporate governance codes, reflecting its commitment to transparency and accountability[92]. Board Composition and Responsibilities - The board consists of six executive directors and three independent non-executive directors, ensuring a balanced composition in terms of gender, age, culture, and professional experience[101]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with clear written terms of reference[121]. - The board is responsible for establishing and maintaining the internal control system, which includes financial, operational, and legal compliance monitoring[146]. - The board will appoint at least one director of a different gender by the end of 2024 to enhance gender diversity[164]. Employee and Operational Management - The total employee cost for the year ended December 31, 2022, was approximately SGD 6.3 million, an increase from SGD 5.4 million in 2021[65]. - The company has 132 employees as of December 31, 2022, an increase from 121 employees in 2021[65]. - The company has established long-term lease agreements to mitigate unforeseen fluctuations in rental costs, ensuring stable operational expenses[46]. - The company has implemented a credit policy to monitor and manage credit risk effectively[49]. Shareholder Engagement and Dividends - The company encourages shareholders to attend annual general meetings and special meetings to address any questions[171]. - The company has established multiple communication channels to enhance engagement with shareholders and investors[173]. - The company does not recommend the payment of a final dividend for the year ended December 31, 2022[180]. - The company has adopted a dividend policy that requires maintaining sufficient cash reserves to meet operational needs and future business growth[189].

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） 截至二零二二年十二月三十一日止年度之年度業績公告 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」））截至二零二二年十二月三十一日止年度 的經審核綜合年度業績。本公告載列本公司二零二二年年報（「二零二二年年報」） 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」）有關年度業績初步公告隨附資料之相關規定。二零二二年年報的印刷版 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 ...

Financial Performance - For the three months ended September 30, 2022, the revenue was SGD 19,882,000, a slight increase of 1.66% compared to SGD 19,556,000 for the same period in 2021[13]. - The total comprehensive loss for the year was SGD 1,285,000, compared to a loss of SGD 337,000 in the previous year, indicating a significant increase in losses[15]. - The basic and diluted loss per share for the year was SGD 0.10, compared to SGD 0.02 in the previous year, reflecting a worsening financial position[15]. - The company reported a comprehensive income of SGD 2.645 million for the nine months ending September 30, 2022, down from SGD 10.643 million for the same period in 2021, reflecting a decrease of approximately 75%[17]. - The company’s revenue for the nine months ending September 30, 2022, was SGD 9,898 million, a decrease from SGD 10,928 million in the same period of the previous year, indicating a decline of approximately 9.4%[17]. - The company’s net loss attributable to owners for the nine months ending September 30, 2022, was SGD 874 million, compared to a net loss of SGD 185 million for the same period in 2021, indicating a significant increase in losses[17]. - The group recorded a total loss of approximately SGD 1.1 million in 2022, compared to a loss of about SGD 0.2 million in 2021, reflecting an increase in employee benefits and depreciation expenses[64]. Revenue and Expenses - The cost of materials used for the three months was SGD 1,514,000, up from SGD 1,205,000 in the same period last year, representing a 25.6% increase[13]. - Employee benefits expenses for the three months were SGD 1,666,000, an increase of 15.2% from SGD 1,446,000 in the previous year[13]. - The total employee benefits expense for the nine months ended September 30, 2022, was SGD 4,612 thousand, compared to SGD 3,860 thousand in the same period of 2021, marking an increase of 19.5%[35]. - Financing costs for the nine months ended September 30, 2022, totaled SGD 353 thousand, an increase from SGD 287 thousand in the same period of 2021, representing a rise of 22.9%[33]. - The company reported a total depreciation expense of SGD 2,500 thousand for the nine months ended September 30, 2022, compared to SGD 1,831 thousand in the same period of 2021, reflecting an increase of 36.6%[35]. - Other expenses rose by approximately SGD 0.7 million from about SGD 1.8 million in 2021 to approximately SGD 2.5 million in 2022, driven by increased vehicle insurance and road tax costs[61]. Strategic Focus and Development - The company plans to focus on market expansion and new product development to improve future performance[13]. - The management highlighted ongoing efforts in research and development to enhance product offerings and competitiveness in the market[13]. - The company plans to focus on expanding its market presence in Singapore and China, leveraging its existing service capabilities in automotive maintenance and repair[20]. - The company is exploring new product development initiatives aimed at enhancing service offerings and improving customer satisfaction[20]. - The company is assessing potential mergers and acquisitions to strengthen its market position and diversify its service portfolio[20]. - The company aims to improve operational efficiency through strategic investments in technology and process optimization[20]. - The company aims to leverage new technologies and equipment to prepare for challenges in new market developments and new vehicle types[52]. - The company is seeking new business opportunities in e-commerce to adapt to the shift in demand from physical stores[50]. Segment Performance - The company operates four reportable segments: automotive after-sales services, automotive leasing services, automotive supply business, and education business services[30]. - Service revenue for Q3 2022 was SGD 3,225 thousand, up from SGD 3,073 thousand in Q3 2021, representing a growth of 4.9%[29]. - Automotive supply revenue reached SGD 15,742 thousand in Q3 2022, slightly down from SGD 15,778 thousand in Q3 2021, indicating a decrease of 0.2%[29]. - Total revenue for the nine months ended September 30, 2022, was SGD 61,814 thousand, compared to SGD 34,355 thousand for the same period in 2021, reflecting an increase of 80.5%[29]. - Automotive supply revenue increased by approximately SGD 26.1 million to about SGD 49.4 million for the nine months ended September 30, 2022, compared to SGD 23.3 million in 2021[47]. - The company's after-sales service revenue rose by approximately SGD 0.5 million, attributed to recovery from COVID-19 control measures[47]. - The automotive rental business revenue increased by approximately SGD 0.6 million compared to the previous year[47]. Corporate Governance and Compliance - The company maintains high standards of corporate governance, adhering to the corporate governance code as per GEM listing rules[85]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ending September 30, 2022, confirming compliance with applicable accounting standards and GEM listing rules[88]. - The company has appointed a compliance advisor, Lux Capital (Hong Kong) Limited, effective from August 15, 2021[87]. - No directors or major shareholders have interests in any competing businesses as of September 30, 2022[79]. - The company has not established any arrangements that would allow directors or senior management to benefit from acquiring shares or securities of the company or its subsidiaries during the nine months ending September 30, 2022[83]. Shareholder Information - The company did not recommend any dividends for the nine months ended September 30, 2022, consistent with the same period in 2021[39]. - The board did not recommend any dividends for the nine months ended September 30, 2022, consistent with the previous year[65]. - As of September 30, 2022, Red Link holds 378,798,000 shares, representing 44.56% of the total issued shares of 850,000,000[75]. - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the nine months ending September 30, 2022[80]. - The company has not granted any stock options since the adoption of the stock option plan on September 18, 2019, and there are no unexercised options as of September 30, 2022[81]. - The company expresses gratitude to shareholders, business partners, and employees for their support and contributions during the reporting period[92]. Assets and Liabilities - The total assets of the company amounted to SGD 9,338 million as of September 30, 2022, compared to SGD 11,610 million as of September 30, 2021, representing a decline of about 19.6%[17]. - The company’s liabilities stood at SGD 8,913 million as of September 30, 2022, compared to SGD 10,643 million as of September 30, 2021, showing a reduction of about 16.5%[17]. - As of September 30, 2022, the group's bank borrowings were secured by corporate guarantees and related assets[66].

Corporate Governance - The company appointed Ms. Yi Jing as an independent non-executive director[1]. Share Capital and Ownership - As of June 30, 2022, the company reported a total issued share capital of 850,000,000 shares[5]. - Mr. Hong Liqiang and Ms. Lin Liling each hold 378,798,000 shares, representing 44.56% of the total shares[5]. - Mr. Hu Wuan holds 7,880,000 shares, which is 0.93% of the total shares[5]. - Ms. Yi Jing holds 130,000 shares, equivalent to 0.02% of the total shares[5]. Compliance and Responsibility - The company confirmed that the information in the mid-term performance announcement remains unchanged except for the disclosed updates[8]. - The announcement is in compliance with the GEM listing rules of the Hong Kong Stock Exchange[8]. - The board of directors collectively and individually accepts full responsibility for the accuracy and completeness of the announcement[8]. - The announcement will be available on the Hong Kong Stock Exchange website for at least seven days[8]. - The company will also publish the announcement on its own website[8].

Financial Performance - For the six months ended June 30, 2022, the company reported revenue of SGD 41,932,000, a significant increase from SGD 14,799,000 in the same period of 2021, representing a growth of 183%[10]. - The company recorded a gross profit of SGD 8,563,000 for the six months ended June 30, 2022, compared to a gross loss of SGD 1,545,000 in the same period of 2021[10]. - Total expenses for the six months ended June 30, 2022, amounted to SGD 42,489,000, up from SGD 14,940,000 in the previous year, indicating an increase of 184%[10]. - The net loss for the six months ended June 30, 2022, was SGD 557,000, compared to a profit of SGD 141,000 in the same period of 2021[10]. - The company reported a significant increase in trade inventory costs, which rose to SGD 33,369,000 for the six months ended June 30, 2022, from SGD 7,344,000 in the previous year[10]. - The company reported other income and gains of SGD 531,000 for the six months ended June 30, 2022, compared to SGD 353,000 in the same period of 2021, marking a growth of 50%[10]. - The total comprehensive income for the six months ended June 30, 2022, was SGD (239,000), a significant decline from SGD (67,000) in the same period of 2021[12]. - The company reported a loss attributable to owners of the company of SGD 62,000 for the three months ended June 30, 2022, compared to a profit of SGD 48,000 in the same period of 2021[12]. - The group recorded a total loss of approximately SGD 557,000 and a comprehensive loss of approximately SGD 637,000 for the period ended June 30, 2022, compared to a profit of approximately SGD 141,000 and a comprehensive profit of approximately SGD 19,000 for the same period in 2021[114]. Revenue Breakdown - For the three months ended June 30, 2022, service revenue was SGD 2,935,000, an increase from SGD 2,897,000 in the same period of 2021, representing a growth of 1.3%[32]. - Automotive supply revenue surged to SGD 18,538,000 for the three months ended June 30, 2022, compared to SGD 4,781,000 in the same period of 2021, marking an increase of 287.5%[32]. - Warranty income increased to SGD 299,000 for the three months ended June 30, 2022, from SGD 137,000 in the same period of 2021, reflecting a growth of 118.9%[32]. - The group’s total revenue for the three months ended June 30, 2022, was SGD 22,847,000, compared to SGD 8,410,000 in the same period of 2021, reflecting a growth of 171.5%[32]. - The group operates four reportable segments: automotive after-sales services, automotive rental services, automotive supply business, and educational services[33]. - The group is focused on expanding its automotive supply and after-sales service segments to enhance overall revenue growth[33]. Expenses and Costs - Marketing and advertising expenses for the six months ended June 30, 2022, were SGD 194,000, a decrease from SGD 245,000 in the same period of 2021[10]. - Employee benefits expenses increased to SGD 2,946,000 for the six months ended June 30, 2022, compared to SGD 2,414,000 in the previous year, reflecting a rise of 22%[10]. - The total operating expenses for the six months ended June 30, 2022, were SGD 1,717,000, up from SGD 1,071,000 in the same period of 2021, an increase of 60.2%[39]. - The cost of materials and changes in trade inventory increased by approximately SGD 26.6 million to about SGD 36.1 million in 2022, primarily due to increased supply of automotive parts and equipment in mainland China[104]. Assets and Liabilities - The total current assets increased to SGD 15,088,000 as of June 30, 2022, compared to SGD 11,887,000 as of December 31, 2021, reflecting a growth of approximately 27.5%[14]. - The total non-current assets amounted to SGD 16,778,000 as of June 30, 2022, up from SGD 15,884,000 as of December 31, 2021, indicating an increase of about 5.6%[14]. - The total liabilities increased to SGD 22,880,000 as of June 30, 2022, compared to SGD 17,148,000 as of December 31, 2021, representing a rise of approximately 33.5%[15]. - The company’s total equity decreased to SGD 9,986,000 as of June 30, 2022, down from SGD 10,623,000 as of December 31, 2021, reflecting a decline of approximately 6%[15]. - The company’s current liabilities increased to SGD 14,743,000 as of June 30, 2022, compared to SGD 10,823,000 as of December 31, 2021, indicating a rise of about 36%[14]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended June 30, 2022, was SGD 1,750,000, a decrease from SGD 2,181,000 in the same period of 2021[20]. - The net cash and cash equivalents at the end of the period were SGD 5,121,000, an increase from SGD 3,573,000 at the end of the previous year[20]. - Bank borrowings amounted to SGD 4,400,000 as of June 30, 2022, slightly down from SGD 4,500,000 as of December 31, 2021[89]. - The interest rate on short-term loans decreased to 3% as of June 30, 2022, down from 5% as of December 31, 2021, reflecting improved financing conditions[85]. Strategic Initiatives - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[10]. - The group plans to cautiously expand its automotive after-sales service and leasing business in Singapore and increase market share in mainland China[100]. - The group aims to seek new business opportunities in e-commerce to adapt to the shift from physical stores due to the impact of COVID-19[102]. - The company has invested in a joint venture, Absolute By Optima Werkz (Thailand) Co., Ltd., holding a 40% equity interest, aimed at expanding overseas operations and diversifying country risk[58]. - The group has invested in Myanmar to expand its overseas business and diversify country risk, holding a 35% interest in Optima Werkz Myanmar Services Co., Ltd.[69]. Employee and Corporate Governance - As of June 30, 2022, the company had 152 employees, an increase from 121 employees as of December 31, 2021[150]. - The company regularly reviews its compensation policies to attract and retain talented employees[150]. - The audit committee, composed of three independent non-executive directors, reviewed the unaudited consolidated financial statements for the six months ending June 30, 2022[174]. - The company has maintained compliance with the corporate governance code as per GEM listing rules during the reporting period[171]. Shareholder Information - The company did not recommend any dividend for the six months ended June 30, 2022, consistent with the same period in 2021[43]. - The board of directors has not recommended any interim dividend for the six months ending June 30, 2022, consistent with the previous year[175]. - As of June 30, 2022, the company had a total of 850 million shares issued[158]. - Mr. Hong Liqiang and Ms. Lin Liling each held 378,798,000 shares, representing 44.56% of the total shares[161]. - Mr. Hu Wuan held 7,880,000 shares, representing 0.93% of the total shares[161].

Financial Performance - For the first quarter of 2022, the company reported revenue of SGD 19,085,000, a significant increase of 198% compared to SGD 6,389,000 in the same period last year[13] - The company recorded a loss of SGD 415,000 for the quarter, compared to a profit of SGD 116,000 in the same quarter of the previous year[13] - The company’s total comprehensive loss for the period was SGD 398,000, compared to a total comprehensive income of SGD 86,000 in the previous year[15] - The company reported a comprehensive income of SGD (415) million for the year, indicating a decline compared to the previous year's comprehensive income of SGD 116 million[19] - The group recorded a total loss and comprehensive income of approximately SGD 0.4 million in 2022, compared to a profit of approximately SGD 116,000 in 2021, mainly due to increased employee costs and research expenses[69] Revenue Breakdown - Automotive supply revenue surged to SGD 15,136,000, compared to SGD 2,785,000 in the previous year, marking an increase of 442%[30] - Service income rose to SGD 3,000,000 from SGD 2,849,000, reflecting an increase of 5.3%[30] - Total revenue for the group was SGD 19.1 million for the period, an increase of approximately SGD 12.7 million from SGD 6.4 million in the previous year, primarily due to increased sales of passenger car parts and accessories[58] Costs and Expenses - The cost of materials used was SGD 15,002,000, which represents an increase from SGD 2,674,000 in the previous year, indicating a rise in production costs[13] - Employee benefits expenses rose to SGD 1,470,000, compared to SGD 1,173,000 in the prior year, reflecting increased staffing or compensation costs[13] - Financing costs increased from SGD 85,000 in 2021 to SGD 108,000 in 2022, primarily due to accrued interest expenses from short-term borrowings[65] - Other expenses increased from SGD 0.5 million in 2021 to SGD 0.8 million in 2022, primarily due to increased maintenance costs and research expenses related to software development[66] Assets and Equity - The company’s total assets as of March 31, 2022, were SGD 2,645,000, reflecting the financial position at the end of the reporting period[18] - As of December 31, 2021, total equity amounted to SGD 10,623 million, with a significant increase from SGD 10,928 million as of December 31, 2020, reflecting a decrease of approximately 2.8%[19] - The total assets of the company were SGD 11,014 million as of March 31, 2020, showing a slight decrease from SGD 10,928 million in the previous year[19] Strategic Initiatives - The company has been focusing on expanding its automotive repair and maintenance services in Singapore, as well as engaging in automotive trading in China[21] - The company aims to enhance its market presence through strategic partnerships and potential acquisitions in the automotive sector[21] - The company established a wholly-owned subsidiary in Changsha, Hunan, China, to expand its parallel import vehicle trade and related services[48] - The group plans to focus on enhancing its position in the automotive after-sales service business and short-term and long-term leasing in Singapore, while seeking to expand its market share in China[52] - The group aims to explore new business opportunities in e-commerce to adapt to the shift in demand from physical stores[53] Compliance and Governance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[22] - The company is committed to maintaining transparency and accuracy in its financial reporting, adhering to the highest standards of corporate governance[22] - The audit committee reviewed the unaudited consolidated financial statements for the three months ended March 31, 2022, and confirmed compliance with applicable accounting standards and GEM listing rules[91] - The company has maintained compliance with the corporate governance code as per GEM listing rules during the reporting period[88] - The company has appointed a compliance advisor effective from August 15, 2021, with no reported interests in the group as of March 31, 2022[90] Shareholder Information - The total number of shares issued as of March 31, 2022, was 850,000,000, with significant shareholdings by key individuals, including 44.56% held by Mr. Hong and Ms. Lin[73][75] - Red Link International Limited, controlled by Ms. Lin and Mr. Hong, held 378,798,000 shares, representing 44.56% of the total shares[78] - The company did not declare any dividends for the three months ended March 31, 2022, consistent with the previous year[39] - The company did not recommend any dividend payment for the three months ended March 31, 2022, consistent with the previous year[93] Operational Updates - The company’s operational disruptions in Myanmar due to political unrest have been resolved, and business operations have resumed[49] - The group has reported a significant foreign exchange loss of SGD (611) million, impacting overall financial performance[19] - The company expressed gratitude to shareholders, partners, and employees for their support and contributions during the reporting period[96]

Business Focus and Expansion - The company reported a focus on automotive after-sales services, including inspection, maintenance, and repair services, as well as car rental services and the supply of automotive parts and equipment[38]. - In response to the COVID-19 pandemic, the company aims to enhance existing operations and explore growth opportunities in sectors such as bio-health, new retail, e-commerce, and franchise management[38]. - A wholly-owned subsidiary, Hunan Optima Automobile Co., Ltd., was established in Changsha, Hunan, on February 3, 2021, to expand parallel import vehicle trade and related services in Central and Southern China[39]. - The new subsidiary will focus on providing a supply chain for imported vehicles, domestic new energy vehicles, automotive parts, and related services, offering a comprehensive service with competitive pricing and flexible financing options[39]. - The company is actively seeking new business opportunities on e-commerce platforms to adapt to the shift in consumer demand from physical stores to online shopping[38]. - The company plans to adopt a cautious approach to expansion while focusing on enhancing its position in the Singapore automotive after-sales service market and increasing market share in mainland China[49]. - The strategic acquisition of Hunan Maliang is seen as beneficial for expanding revenue sources and entering the Chinese market[41]. - The company aims to seek new opportunities in e-commerce to adapt to the shift in demand from physical stores[50]. - The company is focused on expanding its market presence and exploring potential mergers and acquisitions to drive growth[119]. Financial Performance - The group's revenue for the fiscal year ended December 31, 2021, was SGD 57.1 million, an increase of approximately SGD 34.8 million from SGD 22.3 million in the previous fiscal year, primarily due to contributions from the automotive trade business[41]. - Automotive supply revenue increased by approximately SGD 33.3 million to about SGD 42.4 million in the fiscal year 2021, compared to approximately SGD 9.1 million in the previous fiscal year[47]. - The group's automotive after-sales service revenue increased by SGD 0.9 million, reflecting recovery from the impacts of COVID-19[47]. - The group's revenue for the fiscal year 2021 was SGD 57.1 million, an increase of approximately SGD 34.8 million compared to SGD 22.3 million in fiscal year 2020, primarily due to increased sales of passenger car parts and accessories[54]. - Sales from Shenzhen Aodi Taoche Automotive Trading Co., Ltd. amounted to approximately SGD 14.6 million for the fiscal year 2021, while Hunan Aodima Automotive Co., Ltd. generated approximately SGD 27.5 million in sales over 11 months of the fiscal year 2021[54]. - The cost of materials and changes in trade inventory increased by approximately SGD 33.8 million in fiscal year 2021, largely due to operational costs from Hunan Aodima and Shenzhen Aodi Taoche[57]. - Employee benefits expenses rose to approximately SGD 5.4 million in fiscal year 2021, an increase of about SGD 1.2 million from SGD 4.2 million in fiscal year 2020, due to the resumption of salaries after previous reductions[58]. - Other income and gains decreased to SGD 0.4 million in fiscal year 2021 from SGD 1.0 million in fiscal year 2020, primarily due to a reduction in government grants related to COVID-19[55]. - The group recorded a total loss and comprehensive income of approximately SGD 0.7 million for the fiscal year 2021, compared to a loss of approximately SGD 0.8 million in fiscal year 2020[67]. - As of December 31, 2021, cash and cash equivalents amounted to approximately SGD 4.5 million, an increase from SGD 3.3 million in 2020[68]. - The group's asset-to-equity ratio as of December 31, 2021, was 1.2, compared to 0.7 in 2020[68]. - The net debt-to-equity ratio as of December 31, 2021, was 0.7, up from 0.4 in 2020[68]. - The group incurred a tax expense of SGD 0.2 million, primarily due to profits generated by subsidiaries registered in Singapore and China, taxed at rates of 17% and 25% respectively[65]. Risk Management and Compliance - The group faces significant risks including currency, credit, liquidity, and interest rate risks that could adversely affect its business and financial condition[70]. - The company aims to diversify its revenue sources and adapt to the transition towards electric vehicles to mitigate risks associated with the phasing out of internal combustion engine vehicles by the Singapore government[72]. - The expected credit loss rate for current trade receivables is estimated at 0.2%, while overdue receivables show higher expected loss rates of 2% for up to 90 days, 3% for up to 180 days, 7% for over 180 days but within 365 days, and 10% for over 365 days[76]. - The company has established internal monitoring policies regarding insider trading and compliance with trading standards[185]. - The board has approved and adopted an insider information policy to ensure compliance with GEM listing rules and the Securities and Futures Ordinance[193]. - The company emphasizes fair disclosure and comprehensive reporting of its performance and activities to enhance investor relations[196]. Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules for the fiscal year ending December 31, 2021[129]. - The board has conducted an annual review of its risk management and internal control systems, with a professional third party responsible for the audit[130]. - The board retains overall responsibility for major decisions, including financial data and significant transactions[132]. - The company has established a corporate governance committee to oversee compliance with legal and regulatory requirements[134]. - The board consists of six executive directors and three independent non-executive directors, ensuring a balance of skills and experience necessary for the company's business needs[137]. - The company has complied with GEM listing rules by appointing at least three independent non-executive directors, with at least one possessing appropriate professional qualifications and accounting knowledge[138]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with a clear written scope of authority[162]. - The remuneration committee consists of three independent non-executive directors, with the chair being Ms. Chan Mang Chuen[163]. - The audit committee held five meetings during the year, reviewing quarterly, interim, and annual financial statements[166]. - The company has implemented a training program for new directors to ensure they understand the group's structure and their obligations under relevant regulations[147]. Management and Operations - The management team is committed to monitoring the development of the COVID-19 situation to effectively utilize the net proceeds from the share offering[101]. - The management team includes experienced professionals with over 28 years of experience in finance and accounting, enhancing the company's operational capabilities[121]. - The company has a streamlined operational structure, which has been assessed for the need for an internal audit department[130]. - Daily management and operations have been delegated to executive directors and senior management, with regular reviews of responsibilities[134]. - The company has arranged appropriate liability insurance for all directors, which will be reviewed periodically by the board[135]. - The company has established a nomination committee to recommend candidates for board vacancies and governance policies[146]. - The company has implemented a clear organizational structure with defined responsibilities and authorizations for internal controls[190].