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].

Financial Performance - For the six months ended June 30, 2024, the total revenue of the group was approximately SGD 13,753,000, an increase of about SGD 3,623,000 or 35.8% compared to the six months ended June 30, 2023[3]. - 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 approximately SGD 2,140,000 for the same period in 2023[3]. - 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[4]. - The basic and diluted loss per share for the six months ended June 30, 2024, was SGD (0.004), an improvement from SGD (0.016) for the same period in 2023[5]. - The company reported a foreign exchange gain of SGD 78,902 for the six months ended June 30, 2024, compared to a loss of SGD (19,653) in the same period of 2023[5]. - The company reported a total comprehensive loss of SGD (598,768) for the six months ended June 30, 2024, compared to a total comprehensive loss of SGD (2,140,243) for the six months ended June 30, 2023[7]. - Overall gross profit increased from approximately SGD 126,000 to approximately SGD 615,200, with the gross profit margin rising from about 1.2% to approximately 4.5% due to effective cost control[37]. - The group 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[41]. Revenue Breakdown - Revenue from the freight transportation services segment was SGD 13,086,755, up from SGD 8,758,250, reflecting a growth of 49.5%[12]. - Revenue from freight transportation services rose by approximately SGD 4,329,000 to SGD 13,087,000, representing an increase of about 49.4% due to an overall increase in customer transaction volume[35]. - Revenue from consolidation services decreased by SGD 706,000 to SGD 666,000, attributed to varying service demands from different customers and projects[36]. - Other income increased by approximately SGD 39,000 to about SGD 101,000, primarily due to foreign exchange fluctuations[38]. Expenses and Costs - Administrative expenses decreased to SGD 1,357,862 for the six months ended June 30, 2024, from SGD 2,280,114 in the same period of 2023[4]. - Total employee costs for the six months ended June 30, 2024, amounted to approximately SGD 3,379,000, a decrease from SGD 3,459,000 for the same period in 2023[47]. - The company incurred total financing costs of SGD 35,759 for the six months ended June 30, 2024, an increase from SGD 28,279 in the same period of 2023[15]. Assets and Liabilities - The total assets as of June 30, 2024, were SGD 13,734,229, down from SGD 14,658,933 as of December 31, 2023[6]. - The total liabilities as of June 30, 2024, were SGD 209,839, compared to SGD 535,775 as of December 31, 2023[6]. - The net assets attributable to equity holders as of June 30, 2024, were SGD 13,524,390, down from SGD 14,123,158 as of December 31, 2023[6]. - Trade receivables increased to SGD 7,255,811 as of June 30, 2024, compared to SGD 6,221,430 as of December 31, 2023[24]. - Trade payables rose to SGD 1,058,208 as of June 30, 2024, compared to SGD 962,236 as of December 31, 2023[25]. Cash Flow - Net cash flow used in operating activities for the six months ended June 30, 2024, was SGD (591,410), compared to SGD (21,632) for the same period in 2023[8]. - The investment activities net cash flow for the six months ended June 30, 2024, was SGD (417,294), a significant decrease from SGD (2,950,251) in the same period of 2023[8]. - The company’s financing activities generated a net cash flow of SGD (517,014) for the six months ended June 30, 2024, compared to a positive cash flow of SGD 4,555,916 in the same period of 2023[8]. - Cash and cash equivalents decreased by SGD 1,525,718, resulting in a closing balance of SGD 301,660 as of June 30, 2024[8]. Shareholder Information - The company did not recommend the payment of any dividend for the six months ended June 30, 2024[3]. - The company issued 55,193,873 new shares at a subscription price of 0.26 HKD per share, raising approximately 32.5 million HKD[28]. - As of June 30, 2024, the company's directors and key executives hold a total of 3,230,250 shares, representing approximately 1.94% of the issued share capital[51]. - Ventris Global Limited holds a 1.74% stake in the company with 2,910,250 shares, while Wang Hufei owns 6.28% with 10,471,750 shares as of June 30, 2024[56]. Corporate Governance - The company has adopted the GEM Listing Rules Appendix 15 Corporate Governance Code and has complied with all provisions except for the separation of the roles of Chairman and CEO, which is held by Mr. Cai, the founder[61]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the six months ended June 30, 2024, and confirmed compliance with applicable accounting standards and GEM Listing Rules[62]. - The company will continue to evaluate the effectiveness of its corporate governance structure regarding the separation of the roles of Chairman and CEO[61]. Future Plans and Market Outlook - The company aims to maintain growth in the industry and strengthen overall competitiveness while expanding market share in Singapore[50]. - Future plans include purchasing new vehicles to enhance service capabilities and increasing employee numbers to meet business expansion needs[50]. - The global trade economy remains uncertain, prompting the company to adopt a cautious approach towards its expansion plans[50].

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].

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） 截至二零二三年六月三十日止六個月之 中期業績公告 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二零二三年六月三十日止六個月之未經審核業 績。本公告載有本公司二零二三年中期報告全文，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」）中有關中期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，二零二三年八月十四日 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、黃靜雲女士及黃淑儀女士。 本公告（各董事願共同及個別對此負全責）乃遵照香港聯合交易所有限公司GEM ...

Financial Performance - For the three months ended March 31, 2023, the group's revenue was approximately SGD 5,021,107, a decrease of about SGD 1,646,793 or 24.7% compared to SGD 6,667,900 for the same period in 2022[5] - The loss attributable to owners of the company for the three months ended March 31, 2023, was approximately SGD 1,713,965, a decrease of about SGD 18,627 compared to a loss of SGD 1,732,592 for the same period in 2022[5] - The gross loss for the three months ended March 31, 2023, was SGD 438,978, compared to a gross profit of SGD 114,293 for the same period in 2022[7] - Revenue from truck transportation services was SGD 4,332,968 for the three months ended March 31, 2023, down from SGD 5,552,864 in the same period in 2022[20] - Revenue from consolidation services was SGD 688,139 for the three months ended March 31, 2023, compared to SGD 1,115,036 for the same period in 2022[20] - The overall performance shifted from a profit of approximately SGD 114,000 for the three months ended March 31, 2022, to a loss of approximately SGD 439,000 for the same period in 2023[50] - The total gross margin declined from approximately 1.7% profit to approximately 8.7% loss for the same periods[50] - The company reported a pre-tax loss of SGD 1,713,965 for the three months ended March 31, 2023, compared to a loss of SGD 1,732,592 in 2022[34] Expenses and Costs - The administrative expenses for the three months ended March 31, 2023, were SGD 1,316,735, a decrease from SGD 1,964,750 in the same period in 2022[7] - The company’s financing costs for the three months ended March 31, 2023, were SGD 15,174, compared to SGD 10,494 for the same period in 2022[7] - Total employee costs, including directors' remuneration, amounted to approximately SGD 1,764,000 for the three months ended March 31, 2023, down from approximately SGD 3,005,000 for the same period in 2022[61] - The company has a significant management compensation of SGD 216,857 for the three months ended March 31, 2023, compared to SGD 238,455 in 2022[41] Dividends and Shareholder Information - The company did not recommend any dividend for the three months ended March 31, 2023[5] - The company did not recommend the payment of dividends for the three months ended March 31, 2023, considering overall operating performance and financial condition[88] - Major shareholders include Ventris Global Limited with 3,230,250 shares (1.94%), Dai Wangfei with 3,950,000 shares (9.47%), and Wang Hufei with 10,471,750 shares (6.28%) as of March 31, 2023[71] Economic Context - The Singapore economy has significantly slowed, with year-on-year growth declining from 2.1% in Q4 2022 to 0.1% in the first three months of 2023, primarily due to a contraction in trade-related industries[59] - The management is continuously monitoring the global trade economy and discussing with customers to understand their needs amid ongoing challenges and uncertainties[59] Compliance and Governance - The company has complied with all provisions of the corporate governance code, except for the separation of the roles of Chairman and CEO[87] - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the three months ended March 31, 2023, and found them compliant with applicable accounting standards[91] Stock Options and Incentives - The company has adopted a share option scheme to incentivize and reward eligible participants for their contributions to the group[74] - As of March 31, 2023, the company granted stock options totaling 3,890,350, representing approximately 2.33% of the total issued shares[75] - The stock option plan will expire on October 17, 2027[80] - The company granted stock options to 8 employees, each holding 333,649 options, and to 3 employees, each holding 407,052 options[78][79] Other Financial Information - Other income for the three months ended March 31, 2023, was SGD 56,922,000, down from SGD 128,359,000 in 2022[24] - Other income decreased from approximately SGD 128,000 for the three months ended March 31, 2022, to approximately SGD 57,000 for the three months ended March 31, 2023, a reduction of about SGD 71,000[51] - The total equity as of March 31, 2023, was SGD 17,475,948, a decrease from SGD 20,089,025 as of March 31, 2022[8] - The group recorded a loss of approximately SGD 1,714,000 for the three months ended March 31, 2023, a decrease of about SGD 19,000 from a loss of approximately SGD 1,733,000 for the same period in 2022[56] - The company has pledged properties and bank deposits valued at SGD 525,970 and SGD 511,859 as collateral for secured bank loans as of March 31, 2023[82] - The group has no capital commitments as of March 31, 2023[58] - The total performance guarantees provided by financial institutions and insurance companies amounted to SGD 670,000 as of March 31, 2023[57] Events and Transactions - No significant acquisitions or disposals of subsidiaries, associates, or joint ventures occurred during the reporting period[81] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[83] - No significant events occurred after the reporting period that would impact the financial statements[84]