Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of SGD 29,461,000, a decrease of 4.24% from SGD 30,765,000 in 2023[4] - The gross profit for the year was SGD 7,412,000, down 13.00% from SGD 8,517,000 in the previous year[4] - The company incurred a net loss attributable to owners of SGD 4,161,000, compared to a loss of SGD 1,071,000 in 2023, representing a significant increase in losses[5] - Revenue from customer contracts for 2024 was SGD 29,461,000, a decrease of 4.25% from SGD 30,765,000 in 2023[13] - The company reported a total loss before tax of SGD 4,173,000 for the year ended December 31, 2024[22] - The company reported a loss attributable to owners of SGD 4,161,000 for the year ended December 31, 2024, compared to a loss of SGD 1,071,000 in 2023, indicating a significant increase in losses[28] - The company recorded total revenue of approximately SGD 29.5 million for the year ended December 31, 2024, a decrease of about SGD 1.3 million or approximately 4.2% compared to the previous fiscal year[38] - The company incurred a loss of approximately SGD 4.2 million for the year ended December 31, 2024, compared to a loss of approximately SGD 1.1 million for the year ended December 31, 2023[45] Assets and Liabilities - The total assets less current liabilities increased to SGD 30,246,000 from SGD 20,961,000, indicating improved asset management despite the losses[6] - Cash and cash equivalents rose to SGD 6,842,000 from SGD 1,607,000, reflecting a strong liquidity position[6] - The company reported a decrease in non-current assets to SGD 15,411,000 from SGD 17,945,000, primarily due to impairments and depreciation[6] - The company’s total equity increased to SGD 23,392,000 from SGD 13,759,000, indicating a stronger capital base[7] - The group’s total liabilities included a tax expense of SGD 12,000 for the year, compared to an expense of SGD 146,000 in 2023[23] - The company's total borrowings as of December 31, 2024, were approximately SGD 7.4 million, down from SGD 10.9 million in the previous year, resulting in a debt-to-equity ratio of approximately 31.5%[49] Income and Expenses - Interest income increased to SGD 33,000 in 2024 from SGD 30,000 in 2023, while total other income rose to SGD 699,000 from SGD 539,000[16] - The company’s financing costs increased to SGD 496,000 from SGD 434,000, reflecting higher borrowing costs[4] - The company's administrative and other operating expenses increased by approximately SGD 2 million or about 32.3% to approximately SGD 8.2 million for the year ended December 31, 2024, primarily due to increased employee costs[42] - The company's employee benefits expenses rose to SGD 4,676,000 in 2024 from SGD 3,994,000 in 2023, reflecting an increase of approximately 17.1%[26] - The cost of goods sold for the year was SGD 21,434,000, a slight decrease from SGD 22,178,000 in 2023[26] Market Strategy and Expansion - The company plans to focus on expanding its market presence in Singapore and Hong Kong, particularly in the food and healthcare sectors[9] - The company has launched a new dining business in Hong Kong as part of its market expansion strategy[21] - The company plans to continue exploring diverse opportunities to broaden revenue sources and enhance market share despite the uncertain global economic outlook[37] Shareholder Information - The total issued and paid-up shares increased to 398,606,168 shares by the end of 2024, up from 99,652,000 shares at the beginning of the year, following a rights issue[33] - The rights issue raised approximately SGD 17,532,000, with net proceeds of about SGD 17,182,000 after expenses[33] - The group has a total of 398,606,168 shares outstanding as of December 31, 2024, with significant shareholders holding the following percentages: Chen Shao Yi at 11.8%, Ni Chao Xiang at 13.15%, and Zuwegnsi Technology Group Limited at 14.97%[60][61] - The group has a share incentive plan in place, which aims to reward and retain qualified participants, with a maximum share purchase limit of 10% of the total issued shares at the beginning of each year[68][69] Corporate Governance - The company has adhered to the corporate governance code as per GEM listing rules for the year ending December 31, 2024[73] - The audit committee, consisting of three independent non-executive directors, has reviewed the audited financial performance for the year ending December 31, 2024, confirming compliance with applicable accounting standards and regulations[75] - The company has confirmed that there were no conflicts of interest or competitive businesses involving directors or major shareholders for the year ending December 31, 2024[72] - The company has adopted trading standards for directors' securities transactions in accordance with GEM listing rules[74] - The annual report for the year ending December 31, 2024, will be distributed to shareholders and published on the company's website at an appropriate time[76] - The board of directors has collectively and individually confirmed the accuracy and completeness of the information disclosed in the announcement[78] Employee and Training - As of December 31, 2024, the total employee cost for the group was approximately SGD 4.8 million, an increase from SGD 4.1 million in 2023[57] - The group provided various training programs to enhance employee skills and capabilities[57]

Investment Rating - The report assigns a "Buy (First Time)" investment rating to the company [24][40]. Core Insights - The company is positioned to benefit from the increasing demand for food supplies due to the growth in the number of ships arriving at Singapore and the rise in inbound tourists, which is expected to enhance its revenue from ship supply clients [17][66]. - The company has established strong relationships with suppliers and clients over its 20 years of industry experience, which is anticipated to support its revenue growth in the coming years [66][75]. - The report forecasts a recovery in the company's main business and potential new growth opportunities through mergers and acquisitions in the sportswear sector [66]. Company Overview - The company supplies a variety of food products, including canned goods, packaged beverages, dairy products, and frozen items, primarily to ship supply clients in Singapore [3][4]. - The company has a diverse product portfolio, including cheese, juice, milk, ice cream, and bread, and has expanded into value-added food processing to meet client needs [3][4][13]. - The management team is experienced, with key leaders having nearly 20 years of experience in the food distribution sector [5][62]. Financial Performance - The company reported a revenue of 30.448 million SGD from ship supply clients in 2023, representing a growth of 20.5 million SGD from the previous year, with this segment accounting for 98.97% of total revenue [65]. - The forecasted revenues for 2024, 2025, and 2026 are 33.359 million SGD, 35.546 million SGD, and 37.948 million SGD, respectively, with expected EPS of 0.04, 0.06, and 0.18 HKD [66]. Market Trends - The report highlights a significant increase in the number of ships arriving at Singapore, with a 4.91% year-on-year growth in the first eight months of 2024, which is expected to drive demand for food supplies [17][75]. - The tourism sector in Singapore is projected to recover, with inbound tourists expected to reach between 15 million and 16 million in 2024, contributing to increased food supply needs [17][66]. Valuation Analysis - The report suggests a P/E valuation range of 40X-50X for the company, translating to a target stock price of 1.60 to 2.00 HKD per share based on expected earnings growth [20][66].

Fundraising - The company successfully placed a total of 16,560,000 new shares at a price of HKD 0.5 per share, raising approximately HKD 8.13 million for general operational funds[1] - The net proceeds from the share placement have been fully utilized as intended by the reporting date[1]

Financial Performance - Revenue for the six months ended June 30, 2024, was SGD 14,678,000, a decrease of 4.4% compared to SGD 15,347,000 in the same period of 2023[2] - Gross profit for the six months ended June 30, 2024, was SGD 3,865,000, down 16% from SGD 4,595,000 in 2023[2] - The net loss attributable to owners for the six months ended June 30, 2024, was SGD 374,000, compared to a profit of SGD 1,052,000 in the same period of 2023[3] - The company reported other income of SGD 141,000 for the six months ended June 30, 2024, down from SGD 263,000 in the same period of 2023[2] - Financing costs increased to SGD 200,000 for the six months ended June 30, 2024, compared to SGD 140,000 in the same period of 2023[2] - The company reported a net cash outflow from operating activities of SGD 3,285,000 for the six months ended June 30, 2024, compared to a cash inflow of SGD 738,000 for the same period in 2023[7] - The company incurred a loss before tax of SGD 272,000 for the six months ended June 30, 2024, compared to a profit of SGD 1,329,000 for the same period in 2023[7] - Basic loss per share for the six months ended June 30, 2024, was SGD (0.0016), compared to earnings per share of SGD 0.0127 in the same period of 2023[19] - For the six months ended June 30, 2024, the company recorded a loss of approximately SGD 374,000, compared to a profit of approximately SGD 1.05 million for the same period in 2023, primarily due to a revenue decrease of about SGD 600,000[40][48] - Revenue decreased by approximately SGD 600,000 or about 3.9% to approximately SGD 14.7 million for the six months ended June 30, 2024, down from approximately SGD 15.3 million for the same period in 2023, mainly due to a reduction in sales volume of frozen products[42] - Overall gross profit decreased by approximately SGD 700,000 or about 7.0% to approximately SGD 3.9 million for the six months ended June 30, 2024, with the gross profit margin declining from 29.9% to 26.3%[44] Assets and Liabilities - Total current assets increased to SGD 23,896,000 as of June 30, 2024, from SGD 14,025,000 as of December 31, 2023[4] - Total assets less current liabilities amounted to SGD 35,208,000 as of June 30, 2024, compared to SGD 20,961,000 as of December 31, 2023[5] - Cash and cash equivalents significantly increased to SGD 9,044,000 as of June 30, 2024, from SGD 1,607,000 as of December 31, 2023[4] - Non-current liabilities decreased to SGD 7,025,000 as of June 30, 2024, from SGD 7,202,000 as of December 31, 2023[5] - The company's equity increased to SGD 28,183,000 as of June 30, 2024, compared to SGD 13,759,000 as of December 31, 2023[5] - The company’s total liabilities decreased from SGD 6,773,000 as of January 1, 2024, to SGD 7,147,000 as of June 30, 2024, reflecting a slight increase of approximately 5.5%[6] - The company reported a goodwill impairment loss of SGD 2,554,000 as of June 30, 2024, compared to SGD 2,485,000 at the end of 2023[23] Cash Flow and Financing - The financing activities generated a net cash inflow of SGD 11,108,000, primarily from a rights issue that raised SGD 17,206,000[8] - The company’s cash and cash equivalents increased to SGD 9,044,000 as of June 30, 2024, up from SGD 2,820,000 at the end of the previous year, representing a growth of approximately 220%[8] - The total borrowings as of June 30, 2024, were approximately SGD 7.5 million, down from SGD 10.9 million as of December 31, 2023, resulting in a debt-to-equity ratio of approximately 26.6%[53] - The net proceeds from the rights issue have been allocated as follows: SGD 18,000 for repayment of notes, SGD 18,000 for mergers and acquisitions, and SGD 14,904 for working capital[62] Expenses - Selling and distribution costs increased by approximately SGD 200,000 or about 15.4% to approximately SGD 1.5 million for the six months ended June 30, 2024, primarily due to increased advertising and promotional expenses[45] - Administrative and other operating expenses rose by approximately SGD 500,000 or about 23.8% to approximately SGD 2.6 million for the six months ended June 30, 2024, attributed to increases in salaries and other operating costs[46] - The company’s depreciation expenses for property, plant, and equipment amounted to SGD 355,000, down from SGD 522,000 in the previous year, indicating a reduction of approximately 32%[7] - Financing costs increased by approximately SGD 60,000 or about 42.9% to approximately SGD 200,000 for the six months ended June 30, 2024, mainly due to increased interest expenses on promissory notes[47] Share Capital and Equity - The issued share capital increased from 83,092,000 shares to 99,652,000 shares after a placement of 16,560,000 shares at a price of 0.5 HKD per share[30] - The company raised approximately 100.2 million HKD (about 17.4 million SGD) through a rights issue of 298,956,000 shares at a subscription price of 0.335 HKD per share[30] - The total issued share capital is expected to reach 398,606,168 shares by June 30, 2024, following the completion of the rights issue[30] - The company has not granted or exercised any stock options during the reporting period[33] Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules during the six months ending June 30, 2024[72] - All directors confirmed compliance with the trading standards for securities transactions as of June 30, 2024[73] - The audit committee reviewed the interim report and financial statements for the six months ending June 30, 2024, ensuring adherence to applicable accounting standards and regulations[74] Employee and Management - As of June 30, 2024, the group employed 64 employees, with total employee costs (including directors' remuneration) amounting to approximately SGD 2.0 million, an increase from SGD 1.5 million for the same period in 2023[61] - The total compensation for directors and key management personnel increased from 454,000 SGD to 477,000 SGD, with short-term employee benefits rising from 431,000 SGD to 451,000 SGD[35] Market and Business Operations - The company’s main business operations are focused on the supply of food and healthcare products, with its registered office located in the Cayman Islands[9] - The company is exploring diverse opportunities to broaden revenue sources and enhance market share despite ongoing geopolitical risks and economic uncertainties[41]

Financial Performance - For the six months ended June 30, 2024, the revenue was SGD 14,678,000, a decrease of 4.4% compared to SGD 15,347,000 for the same period in 2023[3] - The gross profit for the six months ended June 30, 2024, was SGD 3,865,000, down 16% from SGD 4,595,000 in the previous year[3] - The net loss attributable to owners for the six months ended June 30, 2024, was SGD 374,000, compared to a profit of SGD 1,052,000 in the same period of 2023[4] - The company reported a foreign exchange loss of SGD 74,000 for the period, compared to a gain of SGD 18,000 in the previous year[4] - The company incurred a loss before tax of SGD 272 thousand for the six months ended June 30, 2024, compared to a profit of SGD 1,329 thousand in the same period of 2023[8] - Basic loss per share for the six months ended June 30, 2024, was (374) thousand Singapore dollars, compared to a profit of 1,052 thousand Singapore dollars in the same period of 2023[20] - The company reported a loss of approximately SGD 374,000 for the six months ended June 30, 2024, compared to a profit of approximately SGD 1.05 million for the same period in 2023, primarily due to a revenue decrease of about SGD 600,000[41] - Revenue decreased by approximately SGD 600,000 or about 3.9% to approximately SGD 14.7 million for the six months ended June 30, 2024, down from approximately SGD 15.3 million for the same period in 2023, mainly due to a reduction in sales volume of frozen products[43] - Overall gross profit decreased by approximately SGD 700,000 or about 7.0% to approximately SGD 3.9 million for the six months ended June 30, 2024, with the gross profit margin declining from 29.9% to 26.3%[45] Assets and Liabilities - The total current assets increased to SGD 23,896,000 as of June 30, 2024, from SGD 14,025,000 as of December 31, 2023[5] - The total current liabilities decreased to SGD 6,502,000 as of June 30, 2024, from SGD 11,009,000 as of December 31, 2023[5] - As of June 30, 2024, the company's total assets minus current liabilities amounted to SGD 35,208 thousand, a significant increase from SGD 20,961 thousand as of December 31, 2023, representing a growth of approximately 68.3%[6] - The company's net assets reached SGD 28,183 thousand, up from SGD 13,759 thousand in the previous year, indicating a year-over-year increase of about 104.5%[6] - The total equity increased to SGD 28,183 thousand from SGD 13,759 thousand, reflecting a growth of approximately 104.5%[6] - The company’s bank borrowings decreased to SGD 4,810 thousand from SGD 5,027 thousand, showing a reduction of approximately 4.3%[6] - The total bank borrowings decreased to SGD 5,233,000 as of June 30, 2024, from SGD 5,447,000 as of December 31, 2023, a reduction of approximately 3.9%[29] - The total borrowings of the company as of June 30, 2024, amounted to approximately SGD 7.5 million, down from SGD 10.9 million as of December 31, 2023, resulting in a debt-to-equity ratio of approximately 26.6%[54] Cash Flow and Financing - The cash flow from operating activities showed a net outflow of SGD 3,285 thousand for the six months ended June 30, 2024, compared to an inflow of SGD 738 thousand in the same period of 2023[8] - The financing activities generated a net cash inflow of SGD 11,108 thousand, a significant improvement from a net outflow of SGD 1,628 thousand in the previous year[9] - The company reported a cash and cash equivalents balance of SGD 9,044 thousand at the end of the period, up from SGD 2,820 thousand at the end of the previous year, marking an increase of approximately 220.5%[9] - The company raised approximately SGD 17.4 million through a rights issue completed on April 10, 2024, with a subscription price of SGD 0.335 per share[31] - The company utilized approximately HKD 18,000 for the repayment of promissory notes and HKD 18,000 for mergers and acquisitions from the proceeds of the rights issue[63] Expenses - The company’s administrative and other operating expenses rose to SGD 2,584,000 for the six months ended June 30, 2024, compared to SGD 2,126,000 in the previous year[3] - Selling and distribution costs increased by approximately SGD 200,000 or about 15.4% to approximately SGD 1.5 million for the six months ended June 30, 2024, primarily due to increased advertising and promotional expenses[46] - Administrative and other operating expenses rose by approximately SGD 500,000 or about 23.8% to approximately SGD 2.6 million for the six months ended June 30, 2024, attributed to increases in salaries and other operating costs[47] - The total employee costs for the six months ended June 30, 2024, were approximately SGD 2.0 million, an increase from SGD 1.5 million for the same period in 2023[62] Share Capital and Equity - The issued share capital increased to SGD 13,878,000 as of June 30, 2024, from SGD 10,407,000 as of December 31, 2023, reflecting an increase of about 33.8%[31] - The company has a stock option plan that allows for the issuance of options equivalent to up to 10% of the total issued shares at any time[32] - The company has not granted, exercised, or cancelled any share options under its share option scheme during the six months ending June 30, 2024[69] - The share award scheme adopted on September 14, 2021, aims to reward and retain eligible participants, with no shares granted under this scheme as of June 30, 2024[70] - The maximum number of shares that can be awarded under the share award scheme is capped at 10% of the total issued shares at the beginning of the year[71] - The potential number of shares to be issued under the share option and award scheme for the six months ending June 30, 2024, is 6,092,192 shares, which is 8.2% of the weighted average number of shares issued during the period[72] Compliance and Governance - The company has complied with the corporate governance code as of June 30, 2024[73] - All directors confirmed compliance with the trading standards for securities transactions during the six months ending June 30, 2024[74] - The audit committee has reviewed the interim report and financial statements for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards and regulations[75] Future Outlook - The company plans to continue its focus on expanding its food and healthcare supply business, leveraging its increased equity and cash position for potential investments and growth opportunities[10] - The company continues to explore diverse opportunities to broaden revenue sources and enhance market share despite ongoing geopolitical risks and economic uncertainties[42] - The company aims to maintain a positive outlook and take necessary actions to minimize the impact on its core business while pursuing sustainable growth and profitability[42]

Financial Performance - The total revenue for the year ended December 31, 2023, was approximately SGD 30.8 million, a decrease compared to the previous fiscal year[9]. - The company recorded a loss of approximately SGD 1.1 million for the year ended December 31, 2023, significantly reduced from a loss of SGD 8.7 million in the previous year[9]. - The reduction in loss was primarily due to the absence of goodwill and intangible asset impairment losses and a decrease in administrative expenses[9]. - The group's revenue decreased by approximately SGD 3.9 million or 11.2% to about SGD 30.8 million for the year ended December 31, 2023, primarily due to a reduction in frozen product orders[16]. - Overall gross profit decreased by approximately SGD 1.2 million or 12.2% to about SGD 8.6 million for the year ended December 31, 2023, with a stable gross profit margin of approximately 28%[18]. - Administrative and other operating expenses decreased by approximately SGD 1.5 million or 19.5% to about SGD 6.2 million for the year ended December 31, 2023, mainly due to reduced employee costs[20]. - Financing costs increased by approximately SGD 88,000 or 25.4% to about SGD 434,000 for the year ended December 31, 2023, primarily due to increased bank borrowing interest expenses[21]. - The group recorded a tax expense of approximately SGD 146,000 for the year ended December 31, 2023, compared to a tax credit of approximately SGD 509,000 for the previous year[24]. Business Strategy and Outlook - The company aims to expand its customer base and cultivate new customers to achieve long-term growth despite a challenging business environment[9]. - The company continues to seek various business and investment opportunities to maximize shareholder returns[9]. - Ongoing geopolitical risks, the Russia-Ukraine war, and impending interest rate hikes are expected to impact the global economy, presenting challenges for the company's future outlook[13]. - The company remains optimistic and is taking necessary actions to minimize the impact on its core business while striving for sustainable growth and improved profitability[13]. - The company is exploring diversified opportunities to broaden its revenue sources and enhance market share[13]. - The company will maintain good corporate governance and effective cost control measures to create maximum returns for shareholders[9]. - The company is committed to promoting its brand and providing quality products while seizing opportunities in various regions[13]. Shareholder and Capital Management - The company has not recommended the payment of a final dividend for the year ending December 31, 2023[52]. - The company has adopted a general dividend policy aimed at distributing profits attributable to shareholders for any financial year, with no predetermined payout ratio[176]. - The board will regularly review and reassess the dividend policy based on actual and expected financial performance, economic conditions, and other internal and external factors[176]. - The company has no fixed dividend distribution ratio, and the declaration and amount of dividends will be determined at the board's discretion[176]. - The total amount of net proceeds from the share issuance was based on the company's best estimates and assumptions regarding future market conditions[45]. - The actual use of proceeds is aligned with the company's business development and industry conditions[45]. Corporate Governance - The company has complied with all applicable codes and provisions of the corporate governance code during the year ending December 31, 2023[125]. - The board of directors is responsible for overseeing the company's overall strategy and business performance, including financial performance and risk management systems[131]. - The audit committee reviewed the group's quarterly, interim, and annual financial statements, ensuring compliance with applicable accounting standards and GEM Listing Rules[140]. - The company has established specific committees, including the audit, remuneration, and nomination committees, to oversee various aspects of governance[137]. - The board is committed to corporate governance and regularly reviews policies and compliance with legal and regulatory requirements[137]. - The company emphasizes the importance of maintaining good relationships with suppliers, customers, and other stakeholders, with no significant disputes reported for the year ending December 31, 2023[113]. Risk Management - The group has established a risk management policy and adopted a three-tier risk management approach to identify, assess, and manage various types of risks[160]. - The board believes that focusing on managing environmental, social, and governance (ESG) risks can enhance the long-term business value of the group[161]. - The board and audit committee conduct annual reviews of the effectiveness of the risk management and internal control systems[162]. - The group will continue to assess and improve its risk management and internal control systems annually[162]. - The group maintains a high level of transparency to enhance investor relations and is committed to timely disclosure of company information[171]. Employee and Management Structure - The company has a total of 60 employees as of December 31, 2023, with a gender ratio of approximately 63% male and 37% female[149]. - The management team includes experienced professionals with backgrounds in finance, marketing, and supply chain development, enhancing the company's operational capabilities[182][183][184]. - The company has a diverse management team with expertise in various sectors, which supports its strategic initiatives and market expansion efforts[182][184]. - The company is committed to promoting gender diversity in senior management and board positions through regular reviews and recruitment efforts[149]. Impairment and Receivables - As of December 31, 2023, the group's trade receivables amounted to approximately SGD 7,971,000, with a provision for impairment of about SGD 360,000[196]. - For the fiscal year ending December 31, 2023, the recognized impairment loss on trade receivables was approximately SGD 157,000[196]. - The carrying amount of the group's interests in associates as of December 31, 2023, was approximately SGD 1,132,000, with an impairment loss of about SGD 476,000 recognized during the fiscal year[199]. - Management's assessment of impairment for trade receivables involves significant judgment based on credit loss experience, aging of receivables, and economic conditions[196]. - The impairment assessment for interests in associates requires management to make significant judgments regarding future cash flow forecasts, including budgeted sales and growth rates[199].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of SGD 30,765,000, a decrease of 11% from SGD 34,694,000 in 2022[5] - The gross profit for the year was SGD 8,517,000, down from SGD 9,753,000, reflecting a gross margin decline[5] - The net loss attributable to shareholders for the year was SGD 1,071,000, significantly improved from a loss of SGD 8,701,000 in the previous year, indicating a reduction in losses by approximately 87%[5][7] - The company recorded a pre-tax loss of SGD 925,000, a substantial improvement compared to a pre-tax loss of SGD 9,210,000 in 2022[5] - Revenue from customer contracts for 2023 was SGD 30,765,000, a decrease of 11% from SGD 34,694,000 in 2022[19] - Revenue from ship supply customers was SGD 30,448,000 in 2023, slightly up from SGD 30,243,000 in 2022[19] - Interest income decreased to SGD 30,000 in 2023 from SGD 47,000 in 2022[21] - Total other income decreased to SGD 539,000 in 2023 from SGD 647,000 in 2022[21] - Revenue from external customers in Singapore was SGD 30,448,000 in 2023, down from SGD 30,498,000 in 2022[25] - The overall gross profit decreased by approximately 1.2 million SGD or about 12.2% to approximately 8.6 million SGD for the year ended December 31, 2023, compared to approximately 9.8 million SGD for the year ended December 31, 2022[49] - The net loss for the year decreased significantly from approximately 8.7 million SGD for the year ended December 31, 2022, to approximately 1.1 million SGD for the year ended December 31, 2023, mainly due to the absence of goodwill and intangible asset impairment losses and reduced administrative expenses[54] Assets and Liabilities - Total assets as of December 31, 2023, amounted to SGD 20,961,000, slightly down from SGD 20,983,000 in 2022[9] - Current assets decreased to SGD 14,025,000 from SGD 16,376,000, primarily due to a reduction in cash and cash equivalents[9] - The company’s cash and cash equivalents were reported at SGD 1,607,000, a significant decrease from SGD 4,006,000 in the previous year[9] - The company’s non-current assets in Singapore were valued at SGD 11,414,000 in 2023, a decrease from SGD 11,671,000 in 2022[25] - The company’s trade receivables amounted to SGD 8.331 million as of December 31, 2023, slightly down from SGD 8.464 million in 2022[35] - The provision for impairment of trade receivables increased to SGD 360,000 in 2023 from SGD 203,000 in 2022[35] - The company’s trade payables were reported at SGD 4.381 million in 2023, compared to SGD 4.116 million in 2022[39] - The total borrowings as of December 31, 2023, remained at approximately 10.9 million SGD, with a debt-to-equity ratio of approximately 79.0%, down from 82.2% in the previous year, attributed to an increase in total equity by approximately 0.6 million SGD[59] - The company’s non-current liabilities decreased to SGD 7,202,000 from SGD 7,765,000, indicating improved financial stability[11] Equity and Shareholder Information - The total equity increased to SGD 13,759,000 from SGD 13,218,000, reflecting a growth of approximately 4%[11] - The weighted average number of ordinary shares used for calculating basic and diluted loss per share increased to 89,443,781 in 2023 from 74,511,419 in 2022[34] - The company has a total of 99,652,000 shares issued as of December 31, 2023, which is the basis for calculating the ownership percentages[78] - The total number of shares held by major shareholders includes 11,760,000 shares (11.8%) by Mr. Chan, and 13,107,000 shares (13.15%) by Mr. Ni and Ms. Yang[74] - The company’s shareholding structure includes 5,795,000 shares (5.82%) held by Ma You Cheng Investment Limited as a trustee[77] Operational Efficiency and Future Plans - The company plans to continue focusing on cost management and operational efficiency to enhance profitability in the upcoming fiscal year[5] - The company plans to continue exploring diverse opportunities to broaden revenue sources and enhance market share despite ongoing geopolitical risks and economic challenges[46] - The company is taking necessary actions to minimize the impact of the loss of a key management personnel in its subsidiary involved in the distribution of disinfectant and sterilization products[46] Employee and Administrative Expenses - The company reported a loss of SGD 4,141,000 in employee benefits expenses for 2023, down from SGD 4,803,000 in 2022[31] - Administrative and other operating expenses decreased by approximately 1.5 million SGD or about 19.5% to approximately 6.2 million SGD for the year ended December 31, 2023, down from approximately 7.7 million SGD for the year ended December 31, 2022, mainly due to reduced employee costs[51] - The total employee cost for the year ended December 31, 2023, was approximately 4.1 million SGD, down from 4.8 million SGD in the previous year, with the company employing 63 employees as of December 31, 2023[68] Financing and Capital Expenditures - The company’s financing costs increased to SGD 434,000 in 2023 from SGD 346,000 in 2022[27] - Financing costs increased by approximately 88,000 SGD or about 25.4% to approximately 434,000 SGD for the year ended December 31, 2023, compared to approximately 346,000 SGD for the year ended December 31, 2022, primarily due to increased bank borrowing interest expenses[52] - Capital expenditures for the year ended December 31, 2023, amounted to approximately 710,000 SGD, primarily related to the acquisition of properties, plants, and equipment[62] Share Issuance and Incentive Plans - The company issued 16,560,000 new shares at SGD 0.50 per share in July 2023, raising approximately SGD 826,000[41] - The net proceeds from the share placement on August 14, 2023, amounted to approximately 8.13 million HKD, intended for general working capital[56] - As of December 31, 2023, the net proceeds from the share issuance amounted to HKD 35,600,000, with specific allocations for expanding storage capacity, Hong Kong business, new product categories, property acquisitions, and working capital[71] - The company allocated HKD 17,400,000 for expanding storage capacity, HKD 5,900,000 for expanding its Hong Kong business, and HKD 10,300,000 for new product categories[71] - The company adopted a share incentive plan on September 14, 2021, aimed at rewarding and retaining qualified participants contributing to the group's growth[84] - The maximum number of shares that can be awarded to any selected participant in a twelve-month period is capped at 1% of the total issued shares[85] - For the year ending December 31, 2023, the potential number of shares to be issued under the plan is 7,353,356, which is 8.2% of the weighted average of 89,443,781 shares[87] - No shares were granted under the plan as of December 31, 2023[87] Governance and Compliance - The company has complied with the corporate governance code during the year ending December 31, 2023[89] - The audit committee reviewed the financial performance for the year ending December 31, 2023, ensuring compliance with applicable accounting standards and regulations[91] - The board of directors confirmed that all disclosures in the announcement are accurate and complete, with no misleading information[93] Miscellaneous - The company did not declare or recommend any dividends for the year ended December 31, 2023[33] - The company expects that the application of new and revised Hong Kong Financial Reporting Standards will not have a significant impact on its performance and financial position[18] - There were no significant investments, acquisitions, or disposals of subsidiaries or associated companies during the fiscal year ending December 31, 2023[72] - The company did not purchase, sell, or redeem any of its listed securities during the fiscal year ending December 31, 2023[79] - As of December 31, 2023, the company had no unexercised share options under its share option scheme[82] - The share option scheme was adopted on August 30, 2017, to attract, retain, and reward eligible individuals for their contributions to the group[80] - The company has not granted, exercised, or canceled any share options during the fiscal year ending December 31, 2023[83] - The company has not engaged in any business that competes with its operations during the year ending December 31, 2023[88] - The company plans to issue its annual report, which includes all required information, at an appropriate time[92]

Financial Performance - For the three months ended September 30, 2023, the revenue was SGD 7,841,000, a decrease of 11.4% compared to SGD 8,847,000 for the same period in 2022[5] - The gross profit for the same period was SGD 2,339,000, representing a gross margin of 29.8%, compared to SGD 1,702,000 in 2022[5] - The net profit for the three months ended September 30, 2023, was SGD 583,000, compared to a loss of SGD 247,000 in the same period of 2022[5] - For the nine months ended September 30, 2023, the total revenue was SGD 23,188,000, down 8.9% from SGD 25,471,000 in 2022[5] - The net profit for the nine months ended September 30, 2023, was SGD 1,635,000, a significant improvement from a loss of SGD 652,000 in the same period of 2022[5] - The company reported a basic and diluted earnings per share of SGD 0.64 for the third quarter of 2023, compared to a loss per share of SGD 0.32 in the same quarter of 2022[5] Equity and Shareholder Information - The total equity attributable to the owners of the company as of September 30, 2023, was SGD 16,278,000, an increase from SGD 13,218,000 at the beginning of the year[6] - The company has invested approximately SGD 791,000 to acquire 5,795,000 ordinary shares under its share award plan[6] - As of September 30, 2023, the total number of shares issued was 99,652,000, with major shareholders holding significant stakes, including Mr. Chen with 11.8% and Mr. Ni with 13.15%[45] Revenue Sources and Business Focus - The company continues to focus on its core business in food and healthcare product supply, with plans for market expansion[8] - The company continues to explore diverse opportunities to broaden its revenue sources and strengthen its market share despite challenges posed by COVID-19 and geopolitical risks[29] - The company remains optimistic about its core business and is taking necessary actions to minimize impacts from recent challenges, aiming for sustainable growth and improved profitability[29] - The company is committed to promoting its brand and providing quality products while seizing opportunities across various regions[29] Costs and Expenses - Total financing costs for the nine months ended September 30, 2023, amounted to 272 thousand Singapore dollars, slightly down from 278 thousand Singapore dollars for the same period in 2022[16] - Sales and distribution costs decreased by approximately SGD 0.4 million or about 17.4% to approximately SGD 1.9 million for the nine months ended September 30, 2023, primarily due to reduced advertising and promotional expenses[34] - Administrative and other operating expenses decreased by approximately SGD 1.2 million or about 27.3% to approximately SGD 3.2 million for the nine months ended September 30, 2023[35] - Financing costs decreased by approximately SGD 6,000 or about 2.2% to approximately SGD 272,000 for the nine months ended September 30, 2023[36] Income and Other Financial Metrics - The company recorded other income of 421 thousand Singapore dollars for the nine months ended September 30, 2023, an increase from 395 thousand Singapore dollars in the same period of 2022[15] - The company incurred income tax expenses of 426 thousand Singapore dollars for the nine months ended September 30, 2023, compared to 80 thousand Singapore dollars for the same period in 2022[18] - The company reported bank interest income of 30 thousand Singapore dollars for the nine months ended September 30, 2023, compared to no income in the same period of 2022[15] Share Incentive Plans - The stock option plan adopted on August 30, 2017, aims to attract and retain qualified individuals, with a total of 1,580,000 unexercised options remaining as of September 30, 2023[54] - The company adopted a share incentive plan on September 14, 2021, aimed at rewarding and retaining qualified participants contributing to the group's growth[56] - The maximum number of shares that can be awarded to any selected participant under the plan in any twelve-month period is capped at 1% of the total issued shares[58] - The potential number of shares to be issued under the plan was 7,375,000 shares, representing 11.7% of the weighted average of 85,942,989 shares issued during the period[59] Compliance and Governance - The company has complied with the corporate governance code as per GEM listing rules for the nine months ended September 30, 2023[62] - The audit committee reviewed the financial statements for the nine months ended September 30, 2023, ensuring compliance with applicable accounting standards and GEM listing rules[65] - The company has confirmed that all directors complied with the trading standards set forth in the GEM listing rules during the nine months ended September 30, 2023[63]

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佈內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示概不會就本公佈全部或任何部分內容而產 生或因依賴該等內容而引致的任何損失承擔任何責任。 COOL LINK (HOLDINGS) LIMITED （於開曼群島註冊成立的有限公司） （股份代號：8491） 截至二零二三年九月三十日止九個月之第三季度業績公佈 Cool Link (Holdings) Limited（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其 附屬公司截至二零二三年九月三十日止九個月之未經審核簡明綜合業績。本公佈列載本 公司二零二三年第三季度業績報告全文，符合香港聯合交易所有限公司（「聯交所」）GEM 證券上市規則（「GEM上市規則」）中有關第三季度業績初步公佈附載的資料之相關要求。 承董事會命 Cool Link (Holdings) Limited 主席兼執行董事 陳少義 香港，二零二三年十一月十四日 於本公佈日期，執行董事為陳少義先生及倪朝祥先生，非執行董事為鄧子健先生；及獨 立非執行董事為陳愛莊女士及陸萱凌女士。 ...

Financial Performance - For the three months ended June 30, 2023, revenue was SGD 7,853,000, a decrease of 6.5% compared to SGD 8,396,000 for the same period in 2022[5]. - Gross profit for the six months ended June 30, 2023, was SGD 4,595,000, representing an increase of 7.3% from SGD 4,282,000 in the same period last year[5]. - The net profit attributable to owners for the six months ended June 30, 2023, was SGD 1,052,000, compared to a loss of SGD 405,000 in the same period of 2022[5]. - The company reported a basic and diluted earnings per share of SGD 1.27 for the six months ended June 30, 2023, compared to a loss per share of SGD 0.66 in the previous year[5]. - Revenue for the six months ended June 30, 2023, was SGD 15,347,000, down 7.7% from SGD 16,624,000 in the prior year[22]. - The group’s revenue decreased by approximately SGD 1.3 million or about 7.8% to approximately SGD 15.3 million for the six months ended June 30, 2023, compared to SGD 16.6 million for the same period in 2022, primarily due to a reduction in sales volume of frozen products[67]. - The overall gross profit increased by approximately SGD 0.3 million or about 7.0% to approximately SGD 4.6 million for the six months ended June 30, 2023, with the gross profit margin rising from 25.8% to 29.9%, driven by higher selling prices of frozen products[69]. - The group recorded a profit of approximately SGD 1.05 million for the six months ended June 30, 2023, compared to a loss of approximately SGD 0.4 million for the same period in 2022, primarily due to a reduction in administrative and other operating expenses by about SGD 1 million[74]. Assets and Liabilities - Total assets as of June 30, 2023, were SGD 14,593,000, down from SGD 16,376,000 as of December 31, 2022[9]. - Current liabilities decreased to SGD 7,957,000 as of June 30, 2023, from SGD 10,916,000 at the end of 2022[10]. - The company’s non-current assets totaled SGD 15,021,000 as of June 30, 2023, a decrease from SGD 15,523,000 as of December 31, 2022[9]. - The company’s total equity increased to SGD 14,290,000 as of June 30, 2023, from SGD 13,218,000 at the end of 2022[10]. - The company’s bank borrowings as of June 30, 2023, were SGD 5,524,000, a slight decrease from SGD 5,857,000 as of December 31, 2022[37]. - As of June 30, 2023, the group's total borrowings were approximately SGD 9.4 million, down from SGD 10.9 million as of December 31, 2022, with a debt-to-equity ratio of approximately 65.6%[80]. Cash Flow and Expenses - Operating cash flow for the six months ended June 30, 2023, was SGD 738,000, a significant increase from SGD 25,000 in the same period last year[13]. - The company experienced a decrease in cash and cash equivalents, ending the period with SGD 2,820,000, down from SGD 4,128,000 a year earlier[14]. - The company incurred interest expenses of SGD 140,000, down from SGD 181,000 in the previous year[13]. - Administrative and other operating expenses decreased by approximately SGD 1.4 million or about 40% to approximately SGD 2.1 million for the six months ended June 30, 2023, due to reductions in salaries and other operating costs[71]. Share Capital and Options - The company’s issued share capital increased to 83,092,000 shares as of June 30, 2023, from 58,320,000 shares at the beginning of 2022, reflecting a capital raise[38]. - As of June 30, 2023, there were 1,580,000 unexercised share options at an exercise price of SGD 0.71, unchanged from the previous year[43]. - The total number of issued shares as of June 30, 2023, is 83,012,000[93]. - The stock options granted to employees totaled 2,370,000, with 1,580,000 exercised during the period[101]. Compliance and Governance - The company has complied with the corporate governance code as per GEM listing rules during the six months ending June 30, 2023[108]. - All directors confirmed compliance with the trading standards for securities transactions during the six months ending June 30, 2023[110]. - The audit committee of Cool Link (Holdings) Limited consists of one non-executive director and three independent non-executive directors, ensuring compliance with applicable accounting standards and regulations[111]. Future Outlook and Strategy - The company plans to continue its focus on the food and healthcare supply business, aiming for market expansion and potential new product development[17]. - The company continues to explore diverse opportunities to broaden revenue sources and enhance market share despite challenges posed by COVID-19 and geopolitical risks[65]. - The company is committed to minimizing the impact of external challenges on its core business while striving for sustainable growth and improved profitability[65].