Financial Performance - The company's revenue for the year ended December 31, 2024, increased by approximately SGD 2,344,000 or about 10.0% to approximately SGD 25,808,000 compared to the previous year[10]. - Gross profit rose from approximately SGD 1,243,000 for the year ended December 31, 2023, to approximately SGD 2,745,000 for the year ended December 31, 2024, with a gross margin increase from 5.3% to 10.6%[10]. - The loss for the year ended December 31, 2024, was approximately SGD 412,000, a significant improvement from a loss of approximately SGD 5,114,000 for the year ended December 31, 2023[10]. - Revenue from truck transportation services increased by approximately SGD 3,235,000 to about SGD 24,571,000, representing a growth of 15.2% due to increased trade volume[16]. - The revenue breakdown for the year ended December 31, 2024, shows truck transportation services accounted for 95.2% of total revenue, while consolidation services accounted for 4.8%[15]. - The revenue from consolidation services decreased by 41.8% or approximately SGD 890,000, primarily due to reduced demand as ships began arriving more timely[18][19]. - Other income and gains decreased from approximately SGD 175,000 for the year ended December 31, 2023, to approximately SGD 73,000 for the year ended December 31, 2024, primarily due to reduced gains from the sale of properties, plants, and equipment[23]. - Administrative expenses decreased from approximately SGD 6,297,000 for the year ended December 31, 2023, to approximately SGD 2,965,000 for the year ended December 31, 2024[24]. - The group recorded a loss of approximately SGD 412,000 for the year ended December 31, 2024, a reduction of approximately SGD 4,702,000 compared to a loss of approximately SGD 5,114,000 for the year ended December 31, 2023[26]. Operational Insights - The company operates a large fleet capable of handling a significant volume of customer orders, positioning itself as a reliable service provider in the logistics sector[14]. - The management team is experienced and has been instrumental in the company's development as a trusted transportation and consolidation service provider[14]. - The company is closely monitoring global trade economics and continuously engaging with customers to understand their needs and the market situation[11]. - The expected GDP growth for Singapore in 2025 is projected to be between 1% and 3%, indicating potential challenges and variables for the company[11]. - Future plans include purchasing new vehicles to increase service capacity and enhancing IT systems[40]. - The company aims to maintain growth and expand market share in Singapore, despite economic slowdowns in the region[40]. Corporate Governance - The company has adopted corporate governance practices in line with GEM listing rules, with compliance noted for the fiscal year[51]. - The company has confirmed adherence to trading regulations for directors during the fiscal year ending December 31, 2024[53]. - The company has received a written confirmation from controlling shareholders regarding compliance with the non-competition agreement since the listing date on GEM[58]. - The board consists of four members, including one executive director and three independent non-executive directors, all of whom have attended 100% of board meetings[60]. - The independent non-executive directors have confirmed their independence in accordance with GEM listing rules[63]. - The company has implemented a training program for directors to ensure they understand their responsibilities under GEM listing rules and other regulations[64]. - The board is responsible for the overall corporate governance functions, including policy formulation and compliance monitoring[69]. - The initial term for all directors is set at three years, with a requirement for re-election at the annual general meeting[71]. - The company has purchased appropriate insurance to cover legal liabilities arising from directors' activities[72]. - The board will continue to review the effectiveness of the corporate governance structure and assess the need to separate the roles of chairman and CEO[62]. Audit and Committees - The Audit Committee held five meetings in the fiscal year ending December 31, 2024, with attendance rates of 100% for the chairman and one member[76]. - The Remuneration Committee conducted three meetings in the fiscal year ending December 31, 2024, with the chairman attending all four meetings[80][82]. - The Nomination Committee held four meetings in the fiscal year ending December 31, 2024, with the chairman attending all three meetings since appointment[85][86]. - The Audit Committee is responsible for reviewing the company's financial statements, including annual and quarterly reports, ensuring their completeness before submission to the board[77]. - The Remuneration Committee is tasked with reviewing and approving the remuneration proposals for senior management based on the company's objectives[83]. - The Nomination Committee evaluates the diversity of the board and recommends changes to enhance the company's corporate strategy[87]. - The Audit Committee's chairman possesses professional qualifications in accounting and financial management as per GEM listing rules[74]. - The Remuneration Committee ensures that no director participates in determining their own remuneration[83]. - The Nomination Committee is responsible for identifying qualified candidates for board positions and assessing the independence of non-executive directors[87]. - The Audit Committee's meetings are held at least four times a year, ensuring compliance with governance codes[76]. Environmental, Social, and Governance (ESG) Initiatives - The company aims to enhance its business operations and sustainability management, adhering to the GEM listing rules of the Hong Kong Stock Exchange[107]. - The environmental, social, and governance (ESG) report covers the fiscal year ending December 31, 2024, focusing on logistics services in Singapore, primarily truck transportation and consolidation services[108]. - The company has established a systematic management approach to assess and manage significant ESG issues, including risk assessments and stakeholder communications[113]. - The ESG committee is responsible for implementing the company's ESG initiatives and monitoring performance, with the board of directors ultimately accountable for the ESG report[109]. - The company actively engages with stakeholders, including government agencies, investors, employees, customers, suppliers, and the community, to improve ESG performance[116]. - The ESG report identifies ten key ESG issues based on stakeholder feedback and industry benchmarks, ensuring relevance and significance[119]. - The company has committed to maintaining compliance with all relevant ESG reporting guidelines and has provided a complete index for reference in the ESG report[107]. - The company emphasizes the importance of effective communication channels with stakeholders to address their concerns and enhance trust[114]. - The report outlines the company's goals and indicators for ESG performance, comparing them with actual results to ensure accountability[115]. - The company has implemented measures to ensure the effectiveness of its significant ESG initiatives and has established actionable goals[115]. Environmental Impact and Compliance - The company aims to reduce diesel consumption by 2.0% by 2029, with incremental reductions of 1%, 1.4%, 1.6%, and 1.8% in the preceding years[136]. - The company targets a 2.3% reduction in electricity consumption by 2029, with annual increases from 1.5% to 2.1% over the next five years[136]. - Water consumption reduction is also set at 2.3% by 2029, with a gradual increase from 1.5% to 2.1% in the following years[136]. - The company has implemented operational measures to minimize greenhouse gas emissions, focusing on logistics operations and energy consumption from purchased electricity[125]. - The company has maintained compliance with significant environmental laws and regulations, including the Environmental Protection Management Act in Singapore[128]. - The company encourages employees to adopt water-saving habits and has no issues with water sourcing as it is provided by the government[133]. - The company has adopted digital office practices to minimize paper usage and has implemented regular vehicle maintenance to monitor fuel consumption[126]. - The company is committed to creating a comfortable and green working environment to enhance employee efficiency[135]. - The company has established electronic workflows to reduce printing and copying, promoting double-sided printing in the office[129]. - The company evaluates climate change impacts through physical and transition risk assessments, considering both direct asset damage and supply chain disruptions[142]. Employee Welfare and Safety - The employee turnover rate for the year was reported at 6.9%, which is considered healthy and stable by the Environmental, Social, and Governance Committee[155]. - The company has established an ISO 14001 certified environmental management system to meet customer expectations for environmental friendliness[148]. - The workforce consisted of 121 full-time employees as of December 31, 2024, down from 130 in 2023, reflecting a decrease of approximately 6.9%[155]. - The company plans to negotiate cost-sharing arrangements with customers in response to potential fuel cost increases due to environmental taxes[148]. - The company is committed to monitoring and updating its action plans regarding climate change impacts regularly[147]. - The total power consumption was reported at 56,228 kWh in 2024, an increase from 44,643 kWh in 2023, representing a growth of approximately 26%[150]. - The company aims to maintain compliance with relevant laws and regulations regarding employee rights and welfare, ensuring a fair and equitable work environment[160]. - The company reported an injury rate of 0.0076% for the fiscal year 2023, an increase from 0.0055% in fiscal year 2022, but a decrease is expected in fiscal year 2024 to 0.0057%[168]. - The total number of lost workdays due to injuries was 28 in fiscal year 2023, compared to 25 in fiscal year 2022 and an expected 26 in fiscal year 2024[168]. - The company has not experienced any work-related fatalities in the past three years[166]. Risk Management and Compliance - A comprehensive anti-corruption training program aims for 100% coverage of employees within four years[178]. - The company has established a strict supplier selection process that considers environmental and social risk controls[186]. - There have been no reported incidents of bribery, extortion, fraud, or money laundering in the past three years[183]. - The company maintains a risk management system to identify and mitigate risks in the workplace[165]. - The company has implemented various COVID-19 safety measures, including regular disinfection and social distancing protocols[169]. - The company collaborates with four key suppliers in the port, diesel, tire, and land leasing sectors, crucial for its operations[185]. - The company provides at least 6 hours of training for each driver during the reporting period, focusing on health and safety regulations[173]. Logistics and Service Quality - The company has a large logistics fleet consisting of tractors, trailers, forklifts, and light vehicles to provide efficient transportation and storage services[192]. - The company has invested in various technological systems to enhance workflow timeliness and accuracy, reducing employee workload[192]. - The company maintains close relationships with suppliers to ensure the provision of quality goods and services, contributing to strong business performance[193]. - The company implements a quality control policy to provide reliable and flexible services, meeting changing customer and market demands[194]. - Regular vehicle inspections are conducted to minimize vehicle failures and road accidents, ensuring safety for all road users[199]. - All drivers are required to participate in safety courses to ensure safe operation of heavy vehicles[200]. - The company has established quality and safety inspection programs to regulate order processing and address unresolved issues with customers and suppliers[197]. - The company actively communicates with customers to understand their needs and provide timely responses during service delivery[196]. - The company utilizes an operational system that automatically matches key operational data with partners' databases daily[192]. - The company does not face risks related to product or service recalls, and any delivery issues are promptly rescheduled with customer approval[200].

截 至2024年12月31日 止 年 度 年 度 業 績 公 告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的 特 色 GEM的 定 位 是 為 投 資 風 險 可 能 較 其 他 於 主 板 上 市 的 公 司 為 高 的 中 小 型 公 司 而 設 的 市 場。有 意 投 資 者 應 瞭 解 投 資 於 該 等 公 司 的 潛 在 風 險，並 須 經 過 審 慎 周 詳 的 考 慮 後 方 作 出 投 資 決 定。 香 港 交 易 及 結 算 所 有 限 公 司 及 聯 交 所 對 本 公 告 之 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 之 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 C&N Holdings Limited 春能控股有限公司* （於開曼群島註冊成立之有限公司） （股份代號：8430） 由 於GEM上 市 公 司 通 常 為 中 小 型 公 司，在GEM買 賣 的 證 券 可 ...

Financial Performance - For the six months ended June 30, 2024, the total revenue of C&N Holdings Limited was approximately SGD 13,753,000, an increase of about SGD 3,623,000 or 35.8% compared to SGD 10,130,158 for the same period in 2023[4]. - The loss attributable to owners of the company for the six months ended June 30, 2024, was approximately SGD 599,000, a significant improvement from a loss of SGD 2,140,000 for the same period in 2023[4]. - The gross profit for the six months ended June 30, 2024, was SGD 615,201, compared to SGD 126,092 for the same period in 2023, indicating a substantial increase in profitability[4]. - The total comprehensive loss for the period was SGD 598,768, a significant reduction from SGD 2,140,243 for the same period in 2023[4]. - The company reported a basic and diluted loss per share of SGD 0.004 for the six months ended June 30, 2024, compared to SGD 0.016 for the same period in 2023[4]. - The company recorded a loss of approximately SGD 678,000 for the six months ended June 30, 2024, a reduction of about SGD 1,443,000 compared to a loss of approximately SGD 2,121,000 for the same period in 2023[42]. Revenue Sources - Customer contract revenue increased to SGD 13,752,980 for the six months ended June 30, 2024, up 36.1% from SGD 10,130,158 in 2023[13]. - Revenue from truck transportation services rose to SGD 13,086,755, a 49.5% increase from SGD 8,758,250 in the previous year[14]. - The company's revenue for the six months ended June 30, 2024, increased by approximately SGD 3,623,000 or about 35.8% to approximately SGD 13,753,000 compared to the same period in 2023, primarily due to increased transaction volume[35]. - Revenue from truck transportation services rose by approximately SGD 4,329,000 to SGD 13,087,000, reflecting a growth of about 49.4% driven by increased customer transaction volume[35]. Assets and Liabilities - The total assets less current liabilities as of June 30, 2024, amounted to SGD 13,734,229, a decrease from SGD 14,658,933 as of December 31, 2023[6]. - Current liabilities increased to SGD 3,238,022 as of June 30, 2024, compared to SGD 2,928,772 as of December 31, 2023[5]. - The net current assets as of June 30, 2024, were SGD 5,836,228, down from SGD 6,269,904 as of December 31, 2023[6]. - Trade receivables as of June 30, 2024, amounted to SGD 7,255,811, an increase from SGD 6,221,430 as of December 31, 2023[24]. - Trade payables totaled SGD 1,058,208 as of June 30, 2024, up from SGD 962,236 as of December 31, 2023[26]. - Current lease liabilities increased to SGD 1,092,173 as of June 30, 2024, from SGD 731,838 as of December 31, 2023[27]. - Total loans and borrowings decreased slightly to SGD 1,538,712 as of June 30, 2024, from SGD 1,567,613 as of December 31, 2023[27]. Cash Flow - The company reported a net cash outflow from operating activities of SGD (591,410) for the six months ended June 30, 2024, compared to SGD (21,632) in the same period of 2023, indicating a significant increase in cash usage[10]. - The total cash and cash equivalents decreased to SGD 301,660 at the end of June 2024, down from SGD 3,836,683 at the end of June 2023[10]. - Financing activities resulted in a cash outflow of SGD (517,014) for the six months ended June 30, 2024, compared to a cash inflow of SGD 4,555,916 in the same period of 2023[10]. - The company had cash and cash equivalents of approximately SGD 302,000 as of June 30, 2024, a decrease from SGD 1,665,000 as of December 31, 2023[44]. Dividends - The company did not recommend any dividend distribution for the six months ended June 30, 2024[4]. - The company did not recommend a dividend for the six months ending June 30, 2024, consistent with no dividend for the same period in 2023[22]. - The company did not recommend any dividend payment for the six months ended June 30, 2024, considering overall operational performance and financial condition[43]. Share Capital and Options - The weighted average number of ordinary shares issued increased to 166,835,200 in 2024 from 130,035,438 in 2023, affecting the calculation of loss per share[21]. - The company issued 125,126,400 new shares at a subscription price of HKD 0.26 per share, raising approximately HKD 32.5 million in February 2023[29]. - No share options were granted or exercised under the share option scheme for the six months ending June 30, 2024, consistent with the same period in 2023[30]. - The company had a total of 3,890,350 share options outstanding as of June 30, 2024, with 2,669,194 options exercised[31]. - The company has granted stock options to 8 employees, with each holding 333,649 options, and to 3 employees, with each holding 407,052 options[60]. - The stock option plan will expire on October 17, 2027[60]. - The company has a total of 3,890,350 stock options, with 2,669,194 options granted and 1,221,156 options exercised[60]. Corporate Governance - The audit committee consists of three independent non-executive directors and has reviewed the financial statements for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards[67]. - The company has adopted a code of conduct for directors' securities transactions, confirming compliance for the six months ending June 30, 2024[65]. - The company has adhered to all provisions of the corporate governance code, with the exception of the separation of the roles of chairman and CEO[66]. - No directors or major shareholders have interests in any competing businesses during the review period[62]. Future Plans and Market Outlook - The company plans to maintain growth in the industry and expand its market share in Singapore, despite economic challenges[55]. - Future plans include purchasing new vehicles to increase service capacity and enhancing the IT systems of the group[55]. - The global trade economic uncertainty has led the company to adopt a cautious approach towards its expansion plans[55]. - The company aims to increase its workforce to meet business expansion needs and plans to acquire new office space[55]. Employee Costs - As of June 30, 2024, the total employee cost for the group was approximately SGD 3,379,000, a decrease from SGD 3,459,000 for the same period in 2023[50]. - The group has not faced significant labor disputes and maintains good relationships with employees[50].

香 港 交 易 及 結 算 所 有 限 公 司 及 聯 交 所 對 本 公 告 之 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 之 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 之 任 何 損 失 承 擔 任 何 責 任。 C&N Holdings Limited 春能控股有限公司* （於開曼群島註冊成立之有限公司） （股份代號：8430） 截 至2024年6月30日 止 六 個 月 之 中 期 業 績 公 告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM的 特 色 GEM的 定 位 是 為 投 資 風 險 可 能 較 主 板 其 他 上 市 公 司 為 高 的 中 小 型 公 司 而 設 的 市 場。有 意 投 資 者 應 瞭 解 投 資 於 該 等 公 司 的 潛 在 風 險，並 須 經 過 審 慎 周 詳 的 考 慮 後 方 作 出 投 資 決 定。 由 於GEM上 市 公 司 通 常 為 中 小 型 公 司，在GEM買 賣 的 證 券 可 ...

Financial Performance - The group's revenue for the year ended December 31, 2023, decreased by approximately SGD 2,781,000 or about 11.8% to approximately SGD 23,463,000 compared to the previous year[9]. - The group reported a profit of approximately SGD 1,243,000 for the year ended December 31, 2023, reversing a loss of approximately SGD 1,599,000 from the previous year[9]. - The gross profit margin improved from a loss of 6.1% for the year ended December 31, 2022, to a profit margin of 5.3% for the year ended December 31, 2023, primarily due to a decrease in diesel costs[9]. - The group recorded a net loss of approximately SGD 5,114,000 for the year ended December 31, 2023, compared to a net loss of approximately SGD 8,664,000 for the previous year[9]. - Revenue from truck transportation services decreased by approximately SGD 846,000 to about SGD 21,336,000, a decline of 3.8%, primarily due to reduced trade volumes[15]. - Revenue from consolidation services decreased by 47.6% or approximately SGD 1,935,000, attributed to a decrease in customer demand for storage space as ships arrived more timely[18]. - Other income decreased by approximately SGD 59,000 to about SGD 175,000, primarily due to reduced government subsidies from Singapore[24]. - Administrative expenses increased from approximately SGD 5,946,000 to about SGD 6,297,000 for the year ended December 31, 2023[25]. - The group recorded a loss of approximately SGD 5,114,000 for the year ended December 31, 2023, an improvement from a loss of approximately SGD 8,664,000 in the previous year[27]. Economic Outlook - Singapore's GDP is projected to grow between 1% to 3% in 2024, indicating potential economic recovery[10]. - The recovery of port and factory activities is expected to have a positive impact on the group's customer base and, consequently, on the group itself[13]. Business Strategy and Operations - The management is continuously monitoring global trade economics and engaging with customers to understand their needs and the market situation[10]. - The group aims to assess the feasibility of obtaining necessary licenses to provide various transportation management services in other Asian countries to enhance shareholder returns[10]. - The company primarily serves logistics service providers in the Singapore and Hong Kong supply chains, transporting goods such as plastic resins, scrap steel, and paper products[8][13]. - The management team is experienced and has developed a large fleet capable of handling significant customer orders[13]. - The company purchased 11 Euro 6 compliant trucks and 15 trailers, contributing to its transportation capacity expansion[39]. - A new office space of approximately 1,000 square feet was acquired to accommodate additional staff[39]. - The company has completed the installation of a customized container tracking system and an enterprise resource planning system[39]. - A total of 27 experienced truck drivers were hired to support operational needs[40]. - The company allocated approximately HKD 26,062,000 for purchasing new vehicles to enhance transportation and storage capabilities[41]. Corporate Governance - The company believes that good corporate governance is crucial for efficient business management and protecting stakeholder interests[72]. - The company has complied with the corporate governance code from January 1, 2023, to December 31, 2023, except for the separation of roles between the Chairman and the CEO[72]. - The company has entered into a non-competition agreement with its controlling shareholders, ensuring they will not engage in any competing business during the agreement's duration[75]. - The board of directors consists of five members, including two executive directors and three independent non-executive directors, with all directors confirming their compliance with the non-competition agreement[79]. - The chairman and CEO roles are held by the same individual, which the board believes is appropriate for effective management and business development[84]. - All directors have participated in training courses and have confirmed their ongoing professional development, ensuring they are well-informed about their responsibilities[89]. - The board is responsible for the overall corporate governance functions, including policy formulation and compliance monitoring[91]. - The company has established policies for significant contracts and financial assistance, which require board approval[90]. - The independent non-executive directors have confirmed their independence, except for one director who has a familial relationship with an executive director[86]. - The company is committed to reviewing its corporate governance structure to assess the necessity of separating the roles of chairman and CEO[85]. Risk Management - The board is responsible for identifying and managing key risks related to financial, operational, and compliance activities, ensuring effective risk management systems are in place[122]. - An independent internal control consultant has been engaged to review the company's internal control systems and risk management processes[123]. - The board will regularly review the need for an internal audit department, considering the company's size and nature of business[122]. Environmental, Social, and Governance (ESG) Initiatives - The company has established a governance framework to manage environmental, social, and governance (ESG) matters, with a dedicated committee overseeing ESG initiatives[137]. - The ESG report covers the fiscal year ending December 31, 2023, focusing on logistics services in Singapore, including truck transportation and storage services[136]. - The company adheres to the "comply or explain" provisions of the ESG reporting guidelines set by the Hong Kong Stock Exchange[135]. - The company emphasizes stakeholder communication and actively seeks feedback to improve its ESG practices[142]. - The company has implemented a systematic approach to assess and manage significant ESG issues, including risk assessments and internal evaluations[141]. - The company aims to establish actionable ESG goals and indicators, comparing them with actual performance[8]. - The company has implemented operational measures to reduce greenhouse gas emissions, focusing on direct emissions from logistics operations and indirect emissions from electricity consumption[151]. - The company actively adopts energy-saving and regulatory measures to manage greenhouse gas emissions, including digital office practices to minimize paper usage[152]. - The company has complied with significant environmental laws and regulations regarding emissions and waste management during the reporting period[155]. - The company encourages employees to develop water-saving habits, as its operations primarily involve domestic water usage provided by the government[158]. - The company generates minimal non-hazardous waste, primarily consisting of domestic waste and paper, which is managed by general waste service providers[159]. - The company achieved a cumulative reduction target of 1.8% for diesel consumption by 2028[161]. - The company plans to reduce electricity consumption by 2.1% by 2028[161]. - Water consumption is targeted to be reduced by 2.1% by 2028[161]. - Direct emissions (Scope 1) decreased from 8,278 tons of CO2 equivalent in 2022 to 6,846 tons in 2023[177]. - Indirect emissions (Scope 2) reduced from 36 tons of CO2 equivalent in 2022 to 20 tons in 2023[177]. - Diesel consumption decreased from 2,847,677 liters in 2022 to 2,006,892 liters in 2023[177]. - The company has established an ISO 14001 certified environmental management system to enhance its reputation as an environmentally friendly enterprise[174]. - The company is committed to monitoring and updating its action plans regarding climate change impacts[173]. - The company has implemented measures to maintain equipment and promote energy-saving devices[162][163]. Employee Relations and Training - The company emphasizes employee diversity and fair treatment, aiming to protect employee rights comprehensively[178]. - As of December 31, 2023, the company had a total of 130 full-time employees, down from 140 in 2022, with an overall employee turnover rate of 17.1%[180]. - The employee injury rate for the fiscal year 2023 was 0.0076%, an increase from 0.0055% in 2022, with 28 lost workdays due to injuries[191]. - The company has implemented a comprehensive compensation and benefits system, providing full-time employees with medical, dental benefits, and maternity leave, among others[186]. - The company has not reported any work-related fatalities in the past three years, although minor traffic accidents have occurred[189]. - The company has established a reporting mechanism for employees to report fraud or misconduct, ensuring a safe and compliant workplace[187]. - The employee training program includes at least 6 hours of training for drivers on safety regulations during the reporting period[196]. - The company adheres to relevant laws and regulations regarding employee compensation, recruitment, and workplace safety, ensuring compliance throughout the reporting period[185]. - The employee composition includes 118 employees based in Singapore and 12 in Hong Kong, with no part-time or temporary staff hired during the year[180]. - The company has taken measures to ensure a harmonious work environment, including recreational activities to strengthen employee bonds[187]. - The company has complied with all COVID-19 safety measures, including regular disinfection of workplaces and maintaining social distancing[192]. - The company aims for 100% training coverage in anti-corruption training within four years[199]. - The anti-corruption training program will involve management conducting training sessions for office staff and drivers[199]. - The training program will reference guidelines issued by anti-corruption agencies in Singapore and Hong Kong[200].

Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately SGD 23,463,000, a decrease of about SGD 2,781,000 or 10.6% compared to the year ended December 31, 2022[8]. - The total comprehensive loss for the year was approximately SGD 5,067,000, compared to a loss of approximately SGD 8,664,000 for the year ended December 31, 2022, primarily due to an increase in gross profit of about SGD 2,842,000[8]. - The gross profit for the year ended December 31, 2023, was SGD 1,242,633, compared to a gross loss of SGD 1,598,871 for the previous year[9]. - The loss before tax for the year was SGD 5,105,708, compared to a loss of SGD 9,047,901 for the previous year[9]. - The basic and diluted loss per share for the year was SGD (0.0340), compared to SGD (0.1847) for the previous year[9]. - The company reported a pre-tax loss of SGD 5,066,755 for 2023, compared to a loss of SGD 8,664,461 in 2022[41]. - The overall gross profit turned from a loss of approximately SGD 1,599,000 for the year ending December 31, 2022, to a profit of approximately SGD 1,243,000 for the year ending December 31, 2023, with a gross profit margin of 5.3%[64]. - The company recorded a loss of approximately SGD 5,114,000 for the year ending December 31, 2023, an improvement of about SGD 3,550,000 compared to the previous year's loss of approximately SGD 8,664,000[71]. Revenue Breakdown - Total revenue for the year ended December 31, 2023, was SGD 23,463,313, a decrease from SGD 26,244,251 in 2022, representing a decline of approximately 10.7%[19]. - The truck transportation segment generated revenue of SGD 21,336,737, while the consolidation services segment contributed SGD 2,126,576, indicating a significant drop in both segments compared to the previous year[19]. - Revenue from truck transportation services decreased by approximately SGD 846,000 to about SGD 21,336,000, a decline of 3.8% due to reduced trade volume[61]. - Revenue from consolidation services decreased by 47.6% or approximately SGD 1,935,000, primarily due to the need for customers to wait for vessels to arrive before transporting containers[62]. Assets and Liabilities - Total non-current assets decreased from SGD 10,296,808 in 2022 to SGD 8,389,029 in 2023, a decline of approximately 18.5%[10]. - Current assets increased significantly from SGD 7,980,113 in 2022 to SGD 9,198,676 in 2023, representing a growth of about 15.3%[10]. - Current liabilities decreased from SGD 3,720,001 in 2022 to SGD 2,928,772 in 2023, a reduction of approximately 21.3%[10]. - Total assets increased slightly from SGD 14,556,920 in 2022 to SGD 14,658,933 in 2023, reflecting a growth of about 0.7%[10]. - Total liabilities increased to SGD 3,464,547 from SGD 4,549,695 in the previous year, indicating a reduction in financial obligations[19]. - The company's bank loans as of December 31, 2023, totaled SGD 300,000, a decrease from SGD 847,288 in 2022, reflecting a reduction of 64.6%[51]. Cash Flow and Expenses - Cash and cash equivalents decreased from SGD 2,252,650 in 2022 to SGD 1,664,561 in 2023, a decline of about 26.1%[10]. - The operating expenses for the year were SGD 6,297,171, an increase from SGD 5,946,157 in the previous year[9]. - Other income for 2023 amounted to SGD 175,359, a decrease of 25.3% compared to SGD 234,855 in 2022[32]. - Administrative expenses increased from approximately SGD 5,946,000 to about SGD 6,297,000, primarily due to costs associated with office operations and employee expenses[69]. Shareholder Information - The board of directors does not recommend the payment of any dividends for the years ended December 31, 2023, and 2022[8]. - The company did not recommend any dividend for the year ending December 31, 2023, consistent with 2022[55]. - The total issued and paid-up capital as of December 31, 2023, was SGD 5,725,993, an increase from SGD 1,442,676 in 2022[52]. Employee and Operational Developments - Employee benefits, excluding directors' remuneration, totaled SGD 8,534,886 in 2023, slightly down from SGD 8,543,626 in 2022[34]. - The group employed a total of 130 employees as of December 31, 2023, down from 140 in 2022[80]. - The group has hired 27 experienced truck drivers to support its business expansion[86]. - The group has completed the installation of a customized enterprise resource planning system and a tracking system for containers[86]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[110]. - The company confirmed that there were no interests held by directors or substantial shareholders in any competing businesses as of December 31, 2023[100]. - The company has adhered to all corporate governance code provisions during the reporting period, with a noted deviation regarding the roles of the chairman and CEO[103]. Future Outlook and Plans - The company aims to maintain growth in the industry and strengthen overall competitiveness while expanding its market share in Singapore[94]. - The company is cautious about its expansion plans due to uncertainties in the global trade economy[94]. - The company plans to enhance service capacity by purchasing new vehicles and increasing its workforce to meet business expansion needs[94].

Financial Performance - For the nine months ended September 30, 2023, the group's revenue was approximately SGD 15,538,000, a decrease of about SGD 4,634,000 or 23.0% compared to the same period in 2022[6]. - The loss attributable to owners for the nine months ended September 30, 2023, was approximately SGD 2,167,000, an improvement from a loss of SGD 5,197,000 in the same period of 2022, primarily due to a reduction in administrative expenses[6]. - For the three months ended September 30, 2023, revenue was SGD 5,407,983, down from SGD 6,732,142 in the same period of 2022[8]. - Consolidated revenue for the nine months ended September 30, 2023, was SGD 15,538,141, down 23.1% from SGD 20,171,706 in the same period of 2022[20]. - The company reported a pre-tax loss of SGD 2,166,516 for the nine months ended September 30, 2023, compared to a loss of SGD 5,196,798 in the same period of 2022, indicating an improvement[36]. - The company recorded an unaudited loss of approximately SGD 2,167,000 for the nine months ended September 30, 2023, compared to an unaudited loss of approximately SGD 5,197,000 for the same period in 2022[57]. Administrative Expenses - Administrative expenses for the nine months ended September 30, 2023, were SGD 2,714,257, significantly reduced from SGD 5,739,076 in the same period of 2022[8]. - Administrative expenses decreased by approximately SGD 3,025,000 or 52.7% to about SGD 2,714,000 for the nine months ended September 30, 2023, primarily due to the recognition of share-based payments in the previous period[55]. Equity and Share Performance - The total equity as of September 30, 2023, was SGD 16,728,046, down from SGD 17,393,240 as of September 30, 2022[9]. - The company reported a basic and diluted loss per share of SGD 0.0003 for the three months ended September 30, 2023, compared to SGD 0.015 for the same period in 2022[8]. - Basic and diluted loss per share for Q3 2023 was SGD (0.0003), an improvement from SGD (0.015) in Q3 2022[36]. - The company’s weighted average number of ordinary shares for the nine months ended September 30, 2023, was 142,436,823, down from 821,238,588 in the same period of 2022[36]. Revenue Sources - Truck transportation services revenue for Q3 2023 was SGD 4,899,899, a decrease of 15.3% from SGD 5,784,089 in Q3 2022[20]. - Revenue from truck transportation services decreased by approximately SGD 3,387,000 to SGD 13,658,000, a decline of about 19.9% due to reduced overall transaction volume[48]. Other Income and Costs - Other income for Q3 2023 included property sales of SGD 30,000, compared to SGD 11,364 in Q3 2022, reflecting a significant increase[25]. - Other income decreased by approximately SGD 183,000 to about SGD 62,000 for the nine months ended September 30, 2023, mainly due to a reduction in miscellaneous income[54]. - Financing costs for Q3 2023 totaled SGD 11,319, an increase from SGD 9,362 in Q3 2022, primarily due to higher interest on lease liabilities[28]. - The company recorded a foreign exchange loss of SGD 81,430 in Q3 2023, compared to a gain of SGD 20,795 in Q3 2022[30]. Employee Costs and Workforce - Total employee costs for the nine months ended September 30, 2023, amounted to approximately SGD 5.367 million, down from SGD 7.083 million for the same period in 2022[67]. - As of September 30, 2023, the company had a total of 140 employees, with local employees eligible for discretionary bonuses based on performance[67]. Strategic Plans and Market Position - The company plans to maintain growth and expand market share in Singapore, with a cautious approach to expansion due to global trade uncertainties[66]. - The company aims to enhance service capacity by purchasing new vehicles and expanding its workforce to meet business growth needs[66]. - The company is focused on strengthening its IT systems as part of its growth strategy[66]. Dividend and Financial Governance - The board of directors did not recommend any dividend for the nine months ended September 30, 2023[6]. - The board does not recommend declaring dividends as of September 30, 2023, considering the overall operating performance, financial condition, and funding needs[94]. - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements for the nine months ended September 30, 2023, and found them compliant with applicable accounting standards and regulations[97]. Rights Issue and Capital Management - The company completed a rights issue on February 23, 2023, issuing 125,126,400 shares at a subscription price of HKD 0.26 per share, raising approximately HKD 32.5 million[60]. - As of September 30, 2023, the company utilized approximately HKD 27.2 million of the net proceeds from the rights issue, with HKD 18.6 million allocated for employee salaries[63]. - The company has no capital commitments as of September 30, 2023[59]. - The total performance bond provided by financial institutions and insurance companies on behalf of the company amounted to SGD 670,000 as of September 30, 2023[58]. Taxation and Regulatory Environment - The company has not incurred any income tax liabilities in the Cayman Islands and British Virgin Islands, benefiting from tax regulations[34].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就 因本公告全部或任何部分內容而產生或因依賴該等內容而引致之任何損 失承擔任何責任。 C&N Holdings Limited 春 能 控 股 有 限 公 司* （於開曼群島註冊成立之有限公司） （股份代號：8430） 截 至2023年9月30日 止 九 個 月 之 第 三 季 度 業 績 公 告 春能控股有限公司（「本公司」，連同其附屬公司稱為「本集團」）董事（「董事」） 會（「董事會」）欣然公佈本集團截至2023年9月30日止九個月之未經審核業績。 本 公 告 載 有 本 公 司2023年 第 三 季 度 業 績 報 告 全 文，乃 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」）中有關第三季度業績初 步公告附載資料之相關要求。 承董事會命 春能控股有限公司 主席 蔡江林 香港，2023年11月14日 於本公告日期，董事會成員包括執行董事蔡江林先生及馮美娟女士；及 獨立非執行董事張偉健先生、黃淑儀女士及黃靜雲女士。 ...

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 或任何部份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。 C&N Holdings Limited 春 能 控 股 有 限 公 司* （於開曼群島註冊成立之有限公司） （股份代號：8430） 補充公告 有關本公司截至二零二二年十二月三十一日止年度的年報 茲提述春能控股有限公司（「本公司」）於二零二三年四月二日刊發截至二零二二年 十二月三十一日止年度的年報（「二零二二年年報」）。除另有界定者外，本公告所 用詞彙與二零二二年年報所載列者具有相同涵義。 除二零二二年年報所提供資料外，董事會亦謹此提供有關本公司購股權計劃的進 一步資料： (i) 股份於緊接本公司相關僱員行使購股權日期前之加權平均收市價為每股0.086 港元； (ii) 於二零二二年財政年度（「二零二二財年」）年初及年末，根據購股權計劃的計 劃授權可授出的購股權數量分別為76,800,000股及83,417,600股； (iii) 於二零二二財年根據本公司購股權計劃授出的購股權及獎勵可能發行的股份 數量 ...

Financial Performance - For the six months ended June 30, 2023, the total revenue of the group was approximately SGD 10,130,000, a decrease of about SGD 3,310,000 or 24.6% compared to the same period in 2022[3]. - The loss attributable to owners of the company for the six months ended June 30, 2023, was approximately SGD 2,140,000, compared to a loss of SGD 3,367,000 for the same period in 2022[4]. - The gross profit for the six months ended June 30, 2023, was SGD 126,092, down from SGD 325,114 in the same period of 2022[6]. - The total comprehensive loss for the six months ended June 30, 2023, was SGD 2,140,243, compared to SGD 3,367,169 for the same period in 2022[11]. - The company reported a basic and diluted loss per share of SGD 0.0024 for the six months ended June 30, 2023, compared to SGD 0.016 for the same period in 2022[6]. - The company recorded a loss of approximately SGD 2,121,000 for the six months ended June 30, 2023, an improvement of about SGD 1,246,000 compared to a loss of approximately SGD 3,367,000 for the same period in 2022[78]. Dividends - The board of directors did not recommend any dividend for the six months ended June 30, 2023[4]. - The company did not declare any dividends for the six months ended June 30, 2023, consistent with the previous year[42]. - No dividends were proposed by the board for the six months ended June 30, 2023, considering the overall operating performance and financial condition of the company[79]. Assets and Liabilities - The total assets less current liabilities as of June 30, 2023, amounted to SGD 17,590,863, compared to SGD 14,556,920 as of December 31, 2022[9]. - The net asset value as of June 30, 2023, was SGD 17,049,670, an increase from SGD 13,727,226 as of December 31, 2022[9]. - The cash and bank balances as of June 30, 2023, were SGD 3,836,683, compared to SGD 2,252,650 as of December 31, 2022[7]. - Trade receivables as of June 30, 2023, amounted to SGD 3,409,177, a decrease from SGD 3,981,833 as of December 31, 2022, reflecting a 14% decline[46]. - The company reported total loans and borrowings of SGD 1,441,271 as of June 30, 2023, down from SGD 2,313,570 at the end of 2022, indicating a 38% reduction[52]. - The company’s trade payables as of June 30, 2023, were SGD 951,531, a decrease from SGD 1,251,148 as of December 31, 2022, representing a 24% decline[50]. Cash Flow - For the six months ended June 30, 2023, the net cash flow used in operating activities was SGD (21,632) compared to SGD (2,951,296) in 2022, indicating a significant improvement[14]. - The net cash flow used in investing activities increased to SGD (2,950,251) from SGD (137,500) year-over-year, reflecting higher investment expenditures[14]. - The net cash flow generated from financing activities rose to SGD 4,555,916 from SGD 893,121, showing a strong increase in financing activities[14]. - Cash and cash equivalents at the end of the period increased to SGD 3,836,683 from SGD 7,869,446, indicating a net increase of SGD 1,584,033 compared to a decrease of SGD (2,195,675) in the previous year[14]. Revenue Breakdown - Customer contract revenue for the six months ended June 30, 2023, was SGD 10,130,158, down 25.5% from SGD 13,439,564 in 2022[23]. - Revenue from truck transportation services for the six months ended June 30, 2023, was SGD 8,758,250, a decrease of 22.3% from SGD 11,260,942 in 2022[26]. - Revenue from consolidation services for the same period was SGD 1,371,908, down 37.0% from SGD 2,178,622 in 2022[26]. - Overall gross profit decreased from approximately SGD 325,000 for the six months ended June 30, 2022, to approximately SGD 126,000 for the same period in 2023, with a gross profit margin decline from about 2.4% to 1.2%[72]. Employee Costs - The total employee cost for the six months ended June 30, 2023, was approximately SGD 3,459,000, down from SGD 5,607,000 for the same period in 2022[91]. - The group maintained a total of 140 employees as of June 30, 2023, unchanged from December 31, 2022[91]. Corporate Governance - The company has adopted a code of conduct for securities trading by directors, confirming compliance with the required trading standards during the six months ended June 30, 2023[126]. - The company has complied with all provisions of the corporate governance code, with the exception of the separation of roles between the Chairman and CEO, which is deemed appropriate for effective management[128]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and policies adopted by the group and believes that the financial performance for the six months ended June 30, 2023, complies with applicable accounting standards and regulations[131]. Future Plans and Market Conditions - The company plans to maintain growth in the industry and expand its market share in Singapore, despite economic challenges, with a cautious approach to expansion due to global trade uncertainties[106]. - Future plans include purchasing new vehicles to increase service capacity, enhancing employee numbers, acquiring new office space, and strengthening IT systems[106]. - Singapore's economy showed a significant slowdown, with year-on-year growth dropping to 2.1% in Q4 2022 and further declining to 0.1% in the first three months of 2023[106]. Rights Issue - The company proposed a rights issue on October 21, 2022, offering three (3) shares for every one (1) existing share at a subscription price of HKD 0.26, aiming to raise approximately HKD 32.5 million[101]. - The rights issue was completed on February 23, 2023, after receiving shareholder approval at a special meeting held on December 30, 2022[103]. - The estimated net proceeds from the rights issue, after deducting costs, are approximately HKD 31.4 million, with HKD 15.6 million utilized by June 30, 2023[104]. - The company aims to utilize the rights issue proceeds primarily for operational expenses over the next 12 months, including rent, salaries, and working capital[103].