（於開曼群島註冊成立的有限公司） 股份代號 : 8513 第一季度業績報告 2023 (Incorporated in the Cayman Islands with limited liability) Stock code : 8513 FIRST QUARTERLY REPORT 2023 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，該等公司較其他在聯交所上市的 公司可能具有更高投資風險。有意投資者應了解投資於該等公司的潛在風險，並應經 過審慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣的證 券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示，概不對因本報告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 本報告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定而刊載，旨在提供 有關官醞控股有限公司（「本公司」，連同其附屬公司，「本集 ...

IAG HOLDINGS LIMITED 官醞控股有限公司 （於開曼群島註冊成立的有限公司） （「本公司」） （股份代號：8513） 截至二零二三年三月三十一日止三個月 第一季度業績公告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，該等公司較其他在聯交所上市的公 司可能具有更高投資風險。有意投資者應了解投資於該等公司的潛在風險，並應經過審 慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣的證券承 受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 本公告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定而刊載，旨在提供有關 官醞控股有限公司（「本公司」，連同其附屬公司，「本集團」）的資料；本公司的董事（「董事」） 願就本公告共同及個別地承擔全部責任。董事在作出一切合理查詢後確認，就彼 ...

Financial Performance - The company reported a revenue decrease of approximately SGD 5.1 million or 25.8% to about SGD 14.7 million for the fiscal year ended December 31, 2022[8]. - The net loss for the fiscal year 2022 was approximately SGD 3.1 million, an improvement from a net loss of approximately SGD 7.2 million in the fiscal year 2021[14]. - The decline in revenue was primarily due to reduced orders in the manufacturing and sales of disposable medical devices and gaming machines in Singapore and China[8]. - The group's revenue decreased by approximately SGD 5.1 million or 25.8% from about SGD 19.8 million in FY2021 to about SGD 14.7 million in FY2022, primarily due to reduced sales in Singapore and China[16]. - The overall gross profit decreased by SGD 3.1 million or 77.5% from about SGD 4.0 million in FY2021 to about SGD 0.9 million in FY2022, with the gross profit margin dropping from approximately 20.2% to about 6.1%[19]. - Cash and cash equivalents as of December 31, 2022, were approximately SGD 2.3 million, down from SGD 4.1 million in FY2021[26]. - Total employee costs for FY2022 were approximately SGD 4.8 million, compared to SGD 5.7 million in FY2021[35]. - The company did not recommend any final dividend for the fiscal year 2022[132]. - The company’s major risks and uncertainties for the fiscal year 2022 are detailed in the notes to the consolidated financial statements[130]. Cost Management and Operational Efficiency - The company has implemented cost-cutting measures and operational efficiencies to mitigate the impact of the economic downturn[9]. - The company is focused on maintaining operational cost management and business growth while being vigilant about risk conditions in its business portfolio[15]. - The cost of sales decreased by approximately SGD 2.1 million or 13.3% from about SGD 15.8 million in FY2021 to about SGD 13.7 million in FY2022, consistent with the decline in revenue[17]. - Financial costs decreased by approximately SGD 96,000 or 39.8% from about SGD 241,000 in FY2021 to about SGD 145,000 in FY2022, primarily due to reduced lease interest and borrowings[25]. Strategic Initiatives and Future Opportunities - The company continues to explore new revenue sources and business opportunities despite the challenges posed by the ongoing COVID-19 pandemic and economic uncertainties[14]. - The company believes it is strategically positioned to manage its business and seize future opportunities due to its experience and production expertise[15]. - The company plans to utilize SGD 5.95 million for various initiatives, including SGD 2.202 million for microfluidics and liquid silicone rubber development, and SGD 1.53 million for general working capital[40]. - The company has established a new technology department with an investment of SGD 300,000[40]. - The company upgraded its existing manufacturing facilities with an investment of SGD 708,000[40]. - The company has employed sales and marketing personnel with an investment of SGD 410,000[40]. Corporate Governance - The company has maintained high standards of corporate governance to protect shareholder interests and enhance corporate value, complying with GEM Listing Rules Appendix 15[75]. - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors, ensuring independent judgment[79]. - The company held one annual general meeting and nine board meetings during the fiscal year 2022, demonstrating active governance engagement[84]. - All independent non-executive directors have confirmed their independence in writing, aligning with GEM Listing Rules[80]. - The company has established three functional committees to assist the board in fulfilling its responsibilities, including the Audit Committee, Remuneration Committee, and Nomination Committee, all formed on December 19, 2017[92]. - The Audit Committee held four meetings during the fiscal year 2022, ensuring compliance with GEM Listing Rules and internal controls[94]. - The Remuneration Committee conducted three meetings in fiscal year 2022 to review and recommend compensation for executive directors and senior management[99]. - The Nomination Committee also held three meetings in fiscal year 2022, focusing on board diversity and ensuring a balanced skill set among members[104]. - The company has adopted the GEM Listing Rules regarding securities transactions by directors, confirming compliance for the fiscal year 2022[89]. - The company emphasizes the importance of continuous professional development for directors to maintain effective internal controls and corporate governance[90]. Shareholder Communication and Transparency - The company encourages effective communication with shareholders and potential investors through annual general meetings and timely disclosures of financial performance[118]. - The company is committed to maintaining transparency and comprehensive information disclosure to investors through various channels, including its website[124]. - The company has made efforts to improve accountability and transparency to create value for shareholders[74]. Risk Management - The board is responsible for reviewing and monitoring the risk management and internal control systems annually, ensuring compliance with relevant regulations[113]. - The company has not identified any significant matters affecting its business or financial performance since the end of the fiscal year[44]. - The company has not engaged in hedging against foreign exchange risks, as the foreign exchange risk during the reporting periods was not significant[43]. Auditor and Financial Reporting - The independent auditor's report aims to provide reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[196]. - The audit process involves identifying and assessing risks of material misstatement and designing audit procedures to address these risks[197]. - The auditor evaluates the appropriateness of accounting policies and the reasonableness of accounting estimates and disclosures made by the board[197]. - The consolidated financial statements reflect the overall presentation, structure, and content, including disclosures, of relevant transactions and events[197]. - The audit committee reviewed the annual report for the fiscal year 2022 and confirmed compliance with applicable accounting standards and GEM listing rules[180]. Share Capital and Reserves - The company reported a total issued share capital of 568,371,790 ordinary shares with a par value of HKD 0.01 as of December 31, 2022[139]. - The distributable reserves of the company as of December 31, 2022, amounted to approximately SGD 10.5 million, an increase from SGD 9.7 million in the previous fiscal year[143]. - The company has a minimum of 25% of its issued shares held by the public as of the report date[178].

Financial Performance - For the nine months ended September 30, 2022, the group's unaudited revenue was approximately SGD 11.8 million, a decrease of about SGD 3.3 million or 21.9% compared to SGD 15.1 million for the same period in 2021[5] - The group recorded an unaudited loss of approximately SGD 1.0 million for the nine months ended September 30, 2022, compared to a profit of approximately SGD 0.3 million for the same period in 2021[5] - Basic and diluted loss per share for the nine months ended September 30, 2022, was 0.18 Singapore cents, while for the same period in 2021, it was earnings of 0.09 Singapore cents and 0.08 Singapore cents respectively[5] - Gross profit for the nine months ended September 30, 2022, was SGD 1.3 million, down from SGD 3.4 million in the same period of 2021[8] - Operating loss for the nine months ended September 30, 2022, was SGD 0.9 million, compared to an operating profit of SGD 0.6 million for the same period in 2021[8] - Total comprehensive loss for the nine months ended September 30, 2022, was SGD 1.1 million, compared to a total comprehensive income of SGD 0.3 million for the same period in 2021[10] - The group experienced a foreign exchange loss of SGD 0.16 million for the nine months ended September 30, 2022, compared to a gain of SGD 0.088 million in the same period of 2021[10] - Revenue for the nine months ended September 30, 2022, was 11,825 thousand Singapore dollars, a decrease of 21.1% compared to 15,120 thousand Singapore dollars for the same period in 2021[23] - Sales of goods accounted for 11,601 thousand Singapore dollars, down from 14,870 thousand Singapore dollars, representing a decline of 22.8% year-over-year[23] - Total expenses for the nine months ended September 30, 2022, were 12,950 thousand Singapore dollars, a decrease of 11.5% from 14,625 thousand Singapore dollars in the previous year[25] - The cost of goods sold was 10,523 thousand Singapore dollars, down from 11,754 thousand Singapore dollars, indicating a reduction of 10.5%[25] - Other income increased to 107 thousand Singapore dollars from 91 thousand Singapore dollars, reflecting a growth of 17.6%[23] - Financial costs for the nine months ended September 30, 2022, were 110 thousand Singapore dollars, a decrease of 41.2% compared to 187 thousand Singapore dollars in the previous year[29] - The company recognized a total tax expense of 21 thousand Singapore dollars, compared to 125 thousand Singapore dollars in the previous year, marking a significant reduction of 83.2%[29] - The overall gross profit decreased by approximately SGD 2.1 million or 61.8% to about SGD 1.3 million, with a gross profit margin dropping from approximately 22.5% to about 11.0%[53] - Administrative expenses were reduced by approximately SGD 0.6 million or 24.0% to about SGD 1.9 million for the nine months ended September 30, 2022[56] - The sales cost decreased by approximately SGD 1.3 million or 11.0% to about SGD 10.5 million, aligning with the revenue decrease[52] Dividend and Shareholder Information - The board of directors does not recommend the payment of dividends for the nine months ended September 30, 2022, consistent with the previous year[5] - The company did not declare an interim dividend for the nine months ended September 30, 2022, consistent with the previous year[43] - Major shareholders include Ms. Huang with 29.42%, Tianyun Global Limited with 23.47%, and Mr. Xie with 10.84% of the shares[67] - The company has not disclosed any other interests or short positions in its shares as of September 30, 2022[68] Corporate Governance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[76] - The audit committee consists of three independent non-executive directors, responsible for reviewing financial statements and overseeing internal controls[79] - The company’s unaudited consolidated financial information for the nine months ended September 30, 2022, has been discussed and reviewed by the audit committee[82] - The company has maintained high standards of corporate governance to protect shareholder interests and enhance corporate value[76] - The company has not reported any non-compliance incidents regarding the trading standards for directors during the nine months ended September 30, 2022[78] Business Strategy and Outlook - The company continues to focus on the development and sales of disposable medical devices and gaming machines in Singapore and China, respectively[16] - The company continues to focus on cost management strategies to improve profitability amid declining revenues[25] - Future outlook remains cautious due to market conditions, with ongoing assessments of new product development and market expansion opportunities[25] - The company continues to face economic challenges due to inflationary pressures and geopolitical tensions, impacting market stability and demand[48] - The management is committed to exploring new business opportunities to enhance the company's investment portfolio despite the challenging business environment[48] - The company is considering strategic acquisitions to enhance its product offerings and market presence[85] - Cost management strategies have been implemented, aiming for a 3% reduction in operational expenses by the end of the fiscal year[85] - Future guidance indicates a focus on enhancing customer engagement and retention strategies to drive long-term growth[85] Performance and Growth - The company reported a strong performance in Q3 2022, with significant revenue growth compared to the previous quarter[85] - User data showed an increase in active users by 15% year-over-year, reaching a total of 2 million active users[85] - The company provided a positive outlook for Q4 2022, projecting a revenue increase of 10% to 15% compared to Q3 2022[85] - New product launches are expected to contribute an additional $5 million in revenue in the upcoming quarter[85] - The company is investing in new technology development, allocating $2 million for R&D in the next fiscal year[85] - Market expansion plans include entering two new regions, which are projected to increase market share by 5%[85] - The company reported a gross margin of 40%, maintaining stability despite rising costs[85] Share Options and Securities - The company has adopted a share option scheme with a total of 40,000,000 options available for issuance, representing approximately 7.0% of the issued shares as of September 30, 2022[71] - No share options were granted during the nine months ended September 30, 2022, and there were no unexercised options as of that date[75] - As of September 30, 2022, the company had no purchases, sales, or redemptions of its listed securities during the nine months[70] - The weighted average number of ordinary shares issued increased to 512,430 thousand shares for the nine months ended September 30, 2022, compared to 460,000 thousand shares in the previous year[42] Accounting Standards - The company has adopted new accounting standards effective from January 1, 2022, which may impact future financial reporting[20]

Impact of COVID-19 - The ongoing COVID-19 pandemic has severely impacted the sales performance of the gaming machine and equipment industry, leading to significant adverse effects on the cash-generating units of the group [3]. - The demand for the group's gaming machines decreased due to the prolonged pandemic and travel restrictions, impacting order volumes significantly [6]. - The group’s reliance on the social conditions globally, particularly the public entertainment accessibility of amusement parks, has been a critical factor affecting its operations [5]. - The board acknowledges that the group's operations faced significant adverse impacts on sales performance due to the inability to achieve expected results compared to the previous year [6]. Financial Performance - The group experienced a decline of over 90% in standardized net profit for the year ended December 31, 2021, compared to the previous year, leading to a substantial decrease in fair value [8]. - The valuation method used for the group as of December 31, 2021, was adjusted due to the ongoing pandemic and its financial impacts, resulting in a more accurate reflection of the group's value [9]. Valuation Methods - The discount rate used for the value-in-use calculation was set at 22%, reflecting specific risks associated with the cash-generating units [3]. - The growth rate for cash flows beyond the five-year budget plan is projected at 2%, which does not exceed the management's forecasted long-term industry growth rate [4]. - The independent professional valuers have indicated that the existing market approach may only serve as one of the methods for estimating the fair value of the group [9]. - The board believes that the changes in valuation methods are necessary to ensure a fair and reasonable valuation for the group and its shareholders [9].

Financial Performance - For the six months ended June 30, 2022, the group's unaudited profit was approximately SGD 7.8 million, a decrease of about SGD 2.5 million or 24.3% compared to SGD 10.3 million for the same period in 2021[5]. - The unaudited loss for the six months ended June 30, 2022, was approximately SGD 0.9 million, compared to a profit of SGD 0.2 million for the same period in 2021[5]. - Basic and diluted loss per share for the six months ended June 30, 2022, was SGD 0.19, while for the same period in 2021, it was a profit of SGD 0.07 per share[5]. - The company reported a total comprehensive loss of SGD 1,008 thousand for the six months ended June 30, 2022, compared to a total comprehensive income of SGD 283 thousand for the same period in 2021[8]. - The company reported a loss for the period of SGD 938,000 compared to a profit of SGD 219,000 in the previous year[38]. - The overall gross profit decreased by approximately SGD 1.9 million or 76.0%, falling to approximately SGD 0.6 million for the six months ended June 30, 2022, from approximately SGD 2.5 million for the same period last year[94]. - The overall gross profit margin dropped from approximately 24.3% for the six months ended June 30, 2021, to about 7.7% for the same period in 2022[94]. Revenue and Expenses - The total revenue for the six months ended June 30, 2022, was SGD 7,781 thousand, down from SGD 10,308 thousand in the same period of 2021[8]. - For the six months ended June 30, 2022, total revenue was SGD 7,781,000, a decrease of 24.8% from SGD 10,308,000 for the same period in 2021[38]. - The cost of goods sold for the same period was SGD 3,762,000, down from SGD 4,057,000, reflecting a reduction of 7.3%[39]. - Employee benefits expenses decreased to SGD 2,464,000 from SGD 2,984,000, a decline of 17.4%[41]. - The total employee cost for the six months ended June 30, 2022, was approximately SGD 2.5 million, compared to SGD 3.0 million for the same period in 2021[105]. - Administrative expenses decreased by approximately SGD 0.5 million or 27.8%, from approximately SGD 1.8 million for the six months ended June 30, 2021, to about SGD 1.3 million for the same period in 2022[95]. Assets and Liabilities - The total assets as of June 30, 2022, were SGD 20,283 thousand, a decrease from SGD 20,909 thousand as of December 31, 2021[10]. - The total liabilities as of June 30, 2022, were SGD 8,920 thousand, down from SGD 10,160 thousand as of December 31, 2021[12]. - The equity attributable to the company's equity holders as of June 30, 2022, was SGD 10,752 thousand, compared to SGD 10,100 thousand as of December 31, 2021[12]. - The total lease liabilities decreased to SGD 2,409,000 as of June 30, 2022, from SGD 3,042,000 as of December 31, 2021, indicating a reduction of 20.8%[62]. - Trade payables as of June 30, 2022, amounted to SGD 1,351 million, up 21.2% from SGD 1,115 million as of December 31, 2021[80]. Cash Flow - For the six months ended June 30, 2022, the operating cash flow before tax loss was SGD (926) thousand, compared to a profit of SGD 343 thousand in the same period of 2021, representing a significant decline[18]. - The net cash generated from operating activities for the six months ended June 30, 2022, was SGD 2,034 thousand, down from SGD 2,859 thousand in the previous year, indicating a decrease of approximately 29%[18]. - The cash and cash equivalents at the end of the period increased to SGD 6,267 thousand from SGD 6,108 thousand year-over-year, reflecting a growth of about 2.6%[21]. - The financing activities net cash inflow for the six months ended June 30, 2022, was SGD 374 thousand, a recovery from a net cash outflow of SGD (1,082) thousand in the same period of 2021[21]. Shareholder Information - The board of directors did not recommend the payment of dividends for the six months ended June 30, 2022[5]. - The group did not recommend any interim dividend for the six months ended June 30, 2022[106]. - The weighted average number of ordinary shares issued (basic) increased to 483,996,000 shares in 2022 from 460,000,000 shares in 2021, representing a growth of 5.2%[56]. - The company issued 92 million new shares on June 16, 2022, raising SGD 1,622 million at a price of SGD 0.10 per share[77]. - The net proceeds from the share issuance, after deducting listing expenses, amounted to approximately SGD 6.0 million[114]. Risk and Compliance - The company continues to face financial risks including market risk, credit risk, and liquidity risk, which are consistent with the previous fiscal year[28]. - The company has not reported any significant changes in its credit risk exposure, with no collateral held against trade receivables as of the reporting date[75]. - The company has complied with the corporate governance code, except for the provision that the roles of chairman and CEO should be separated, which is currently not the case[137]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited financial information for the six months ended June 30, 2022, and found it compliant with applicable accounting standards[140]. Future Outlook - The company plans to focus on cost management and operational efficiency to improve future performance[40]. - The company has not recognized any impairment provisions for receivables as of the reporting date, indicating a stable credit risk environment[75]. - The company has established a trading code for directors in accordance with GEM Listing Rules, and all directors confirmed compliance with these standards for the six months ended June 30, 2022[138].

IAG Holdings Limited 官酝控股有限公司 ( 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) 股份代號 : 8513 2021 第三季度業績報告 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，該等公司較其他在聯交所上市 的公司可能具有更高投資風險。有意投資者應了解投資於該等公司的潛在風險，並 應經過審慎周詳考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣的證 券承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本報告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 本報告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定而刊載，旨在提供 有關官酝控股有限公司（「本公司」，連同其附屬公司，「本集團」）的資料；本公司的董 事（「董事」）願就本報告共同及個別地承擔全部責任。董事在作出一切合理查詢後確 認，就彼等所深知及 ...

Financial Performance - The group's unaudited revenue for the six months ended June 30, 2021, was approximately SGD 10.3 million, compared to SGD 10.3 million for the same period in 2020[4] - The group's unaudited profit for the six months ended June 30, 2021, was approximately SGD 0.2 million, slightly up from SGD 0.2 million in the previous year[4] - Basic and diluted earnings per share for the six months ended June 30, 2021, were SGD 0.07, an increase from SGD 0.03 for the same period in 2020[4] - The total comprehensive income for the six months ended June 30, 2021, was SGD 0.283 million, compared to SGD 0.214 million in the previous year[4] - The group reported a gross profit of SGD 2.47 million for the six months ended June 30, 2021, compared to SGD 2.27 million in the same period of 2020[7] - The group’s operating profit for the six months ended June 30, 2021, was SGD 0.472 million, down from SGD 0.543 million in the previous year[7] - For the six months ended June 30, 2021, the company reported a total comprehensive income of 329,000 SGD, compared to a loss of 110,000 SGD in the same period of 2020, representing a significant turnaround[17] - Operating cash flow for the six months ended June 30, 2021, was 3,035,000 SGD, a substantial increase from 46,000 SGD in the prior year[17] - The company recorded a net profit of SGD 219,000 for the six months ended June 30, 2021, compared to SGD 204,000 in the same period of 2020, reflecting an increase of 7.35%[33] Assets and Liabilities - Total assets as of June 30, 2021, were SGD 30.704 million, down from SGD 32.159 million as of December 31, 2020[8] - The total liabilities as of June 30, 2021, were SGD 12.741 million, a decrease from SGD 14.479 million as of December 31, 2020[11] - The company’s total liabilities decreased from 4,557,000 SGD as of June 30, 2020, to 3,584,000 SGD as of June 30, 2021, indicating improved financial health[13] - The total equity attributable to the company's equity holders as of June 30, 2021, was 17,963,000 SGD, up from 17,014,000 SGD at the end of the previous period[13] - Trade receivables as of June 30, 2021, amounted to SGD 4,990,000, a decrease of 24.5% from SGD 6,609,000 as of December 31, 2020[76] - Trade payables as of June 30, 2021, were SGD 1,659,000, down 19% from SGD 2,045,000 as of December 31, 2020[86] - The company’s other receivables decreased from SGD 2,589,000 to SGD 638,000 from December 31, 2020, to June 30, 2021[76] - The company’s total liabilities related to trade and other payables were SGD 3,586,000 as of June 30, 2021, compared to SGD 4,274,000 as of December 31, 2020[86] Expenses - Employee benefits expenses for the six months ended June 30, 2021, were SGD 2,984,000, up from SGD 2,870,000 in 2020, marking an increase of 3.97%[42] - Research and development expenses for the six months ended June 30, 2021, were SGD 244,000, compared to SGD 190,000 in 2020, representing an increase of 28.42%[42] - The total cost of goods sold for the six months ended June 30, 2021, was SGD 4,057,000, a decrease from SGD 4,563,000 in the same period of 2020, indicating a reduction of 11.09%[42] - Administrative expenses decreased by approximately SGD 0.4 million or 19.1% to about SGD 1.8 million, mainly due to a reduction in legal and professional fees[104] - Unallocated expenses for the six months ended June 30, 2021, totaled SGD 1,835,000, compared to SGD 1,555,000 in the same period of 2020, indicating an increase of 18.06%[33] Taxation and Interest - Total income tax expense for the six months ended June 30, 2021, was SGD 124,000, down from SGD 183,000 in 2020, a decrease of 32.18%[51] - Interest expenses for lease liabilities decreased to SGD 90,000 in 2021 from SGD 118,000 in 2020, representing a reduction of 23.73%[49] - The total interest expenses for the six months ended June 30, 2021, amounted to SGD 129,000, down from SGD 156,000 in 2020, a decrease of 17.31%[49] Shareholder Information - As of June 30, 2021, the major shareholders include Mr. Pan with a 44.35% stake and Ms. Huang with a 44.35% stake in the company[139] - As of June 30, 2021, the major shareholder, Tianyun Global Limited, holds 204,000,000 shares, representing 44.35% of the company's total shares[149] - Ms. Shi Huiling owns 30,000,000 shares, accounting for 6.52% of the company's total shares[149] - The company has a stock option plan with 40,000,000 options available for issuance, which represents approximately 8.7% of the total issued shares as of June 30, 2021[153] - No stock options were granted during the six months ending June 30, 2021, and there were no unexercised stock options as of that date[157] Corporate Governance - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing financial statements and overseeing internal control procedures[162] - The company has complied with the corporate governance code, except for the separation of the roles of chairman and CEO, which is currently held by Mr. Pan[159] - The unaudited condensed consolidated financial information for the six months ending June 30, 2021, has been reviewed by the audit committee and complies with applicable accounting standards[165] Future Outlook - The company anticipates increased volatility in the second half of 2021 due to uneven vaccination rates, rising cost pressures, and escalating US-China tensions[99] - The group plans to utilize the remaining proceeds for various projects, including upgrading IT systems and enhancing sales and marketing services[128] - The group has delayed the full utilization of funds for developing and enhancing the injection molding business due to increased trade tensions and global economic uncertainties[130] Miscellaneous - The company did not recommend any dividend payment for the six months ended June 30, 2021[4] - The company has not engaged in any significant acquisitions or disposals during the six months ended June 30, 2021[123] - There were no significant adverse impacts on the financial performance due to the COVID-19 pandemic as of the report date[134] - The report will be published on the stock exchange and the company's website for at least seven days from the publication date[166]

Financial Performance - For the three months ended March 31, 2021, the group's unaudited revenue was approximately SGD 5.1 million, an increase of about SGD 273,000 or 5.7% compared to SGD 4.8 million for the same period in 2020[5]. - The group recorded an unaudited loss of approximately SGD 62,000 for the three months ended March 31, 2021, a significant improvement from a loss of SGD 173,000 for the same period in 2020[5]. - Gross profit for the three months ended March 31, 2021, was SGD 1.145 million, compared to SGD 943,000 for the same period in 2020[9]. - Operating profit for the three months ended March 31, 2021, was SGD 50,000, compared to an operating loss of SGD 47,000 for the same period in 2020[9]. - The total comprehensive loss for the three months ended March 31, 2021, was SGD 38,000, compared to a loss of SGD 131,000 for the same period in 2020[11]. - The company reported a basic and diluted loss per share of SGD 0.00 for the three months ended March 31, 2021, compared to a loss of SGD 0.04 for the same period in 2020[11]. - Revenue for the first quarter ended March 31, 2021, was SGD 5,084 thousand, an increase of 5.7% compared to SGD 4,811 thousand in the same period of 2020[20]. - The company reported a loss attributable to equity holders of SGD 3 thousand for the first quarter, an improvement from a loss of SGD 185 thousand in the same period of 2020[35]. - Basic and diluted loss per share for the first quarter was not significant, compared to a loss of 0.04 Singapore cents in the previous year[35]. - The net loss for the same period was approximately SGD 62,000, a significant improvement from a net loss of SGD 173,000 for the three months ended March 31, 2020[43]. Expenses and Costs - Cost of goods sold for the first quarter was SGD 2,077 thousand, a decrease of 2.9% from SGD 2,140 thousand in the previous year[22]. - Employee benefits expenses rose to SGD 1,557 thousand, up 4.2% from SGD 1,495 thousand in the first quarter of 2020[22]. - Research and development expenses significantly increased to SGD 197 thousand, compared to SGD 48 thousand in the same period last year, reflecting a growth of 310.4%[22]. - The group’s administrative expenses decreased to SGD 994,000 for the three months ended March 31, 2021, from SGD 1.125 million for the same period in 2020[9]. - Other income for the three months ended March 31, 2021, was SGD 43,000, down from SGD 254,000 for the same period in 2020[9]. - Interest expenses related to lease liabilities decreased to SGD 45 thousand from SGD 60 thousand in the previous year[23]. - Government grants received increased to SGD 30 thousand from SGD 24 thousand in the same period last year[20]. - The sales cost for the three months ended March 31, 2021, was approximately SGD 3.9 million, with enhanced cost control measures implemented[48]. - Administrative expenses decreased by approximately SGD 131,000 or 11.6% to about SGD 1.0 million for the same period[50]. Dividends and Shareholder Information - The board of directors did not recommend the payment of dividends for the three months ended March 31, 2021[5]. - The company did not declare an interim dividend for the quarter ended March 31, 2021[39]. - As of March 31, 2021, the major shareholder, Tianyun Global Limited, holds 204,000,000 shares, representing 44.35% of the company's total shares[61]. - Ms. Shi Huiling, another major shareholder, owns 30,000,000 shares, accounting for 6.52% of the company's total shares[61]. - The company did not purchase, sell, or redeem any of its listed securities during the three months ending March 31, 2021[62]. Corporate Governance and Compliance - The company has adhered to the corporate governance code as per GEM listing rules, with no non-compliance incidents reported for the three months ending March 31, 2021[75]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited financial information for the three months ending March 31, 2021, ensuring compliance with applicable accounting standards and GEM listing rules[79]. - The chairman and CEO roles are held by the same individual, Mr. Pan, who has been managing the group since 1981, which the board believes is in the best interest of the company and its shareholders[75]. Share Options and Interests - The share option plan adopted on December 19, 2017, allows for a maximum of 40,000,000 shares to be issued, which is 10% of the total issued shares at the time of listing[66]. - No share options were granted during the three months ending March 31, 2021, and there were no unexercised options as of that date[71]. - The company has not disclosed any interests or conflicts of interest among its directors or major shareholders as of the report date[72]. - The company has not reported any insider trading activities related to its share options plan[68]. - The company’s share option plan is valid for ten years from the adoption date unless terminated early by shareholders[68]. - The company’s board of directors has the discretion to determine the eligibility criteria for participants in the share option plan[66]. Business Operations - The company primarily engages in the manufacturing and sale of disposable medical device components and trading of Chinese alcoholic beverages[14]. - The company continues to explore and enhance its product development capabilities despite the impact of COVID-19 on its operations[44]. - The Chinese liquor trading business did not generate any revenue during the three months ended March 31, 2021, but discussions with distributors are ongoing[44]. - The fair value of identifiable net assets of Savour Talent Global Limited at the acquisition date was determined to be SGD 1.938 million[41]. - The acquisition cost for Savour Talent Global Limited was HKD 16 million, with a potential performance bonus not exceeding HKD 48 million[40]. - The company issued 33,333,333 new shares on April 20, 2020, following the achievement of performance targets related to the acquisition of Savour Talent Global Limited[41].

Financial Performance - For the nine months ended September 30, 2020, the group's unaudited revenue was approximately SGD 17.1 million, an increase of approximately SGD 6.5 million or 61.3% compared to SGD 10.6 million for the same period in 2019[5]. - The group's unaudited profit for the nine months ended September 30, 2020, was approximately SGD 0.8 million, compared to a loss of approximately SGD 1.8 million for the same period in 2019[5]. - Basic and diluted earnings per share for the nine months ended September 30, 2020, were 0.16 Singapore cents, compared to a loss of 0.46 Singapore cents for the same period in 2019[5]. - The gross profit for the nine months ended September 30, 2020, was SGD 4.1 million, compared to SGD 0.7 million for the same period in 2019[9]. - Operating profit for the nine months ended September 30, 2020, was SGD 1.4 million, compared to an operating loss of SGD 1.6 million for the same period in 2019[9]. - The total comprehensive income for the nine months ended September 30, 2020, was SGD 0.8 million, compared to a total comprehensive loss of SGD 1.8 million for the same period in 2019[12]. - The company reported a profit attributable to equity holders of SGD 731,000 for the nine months, a turnaround from a loss of SGD 1,849,000 in the same period last year[38]. - The overall gross profit increased by approximately SGD 3.4 million or 485.7% to about SGD 4.1 million for the nine months ended September 30, 2020, with a gross profit margin rising from approximately 6.5% to about 24.0%[48]. Revenue Sources - Revenue for the nine months ended September 30, 2020, was SGD 17,140,000, an increase of 61.5% compared to SGD 10,639,000 for the same period in 2019[22]. - Sales of goods contributed SGD 16,652,000 to revenue, up from SGD 10,501,000, reflecting a growth of 58.5% year-over-year[22]. - The company recorded other income of SGD 0.87 million for the nine months ended September 30, 2020, compared to SGD 0.19 million for the same period in 2019[9]. - Other income increased to SGD 866,000 from SGD 188, marking a significant rise of 360.6%[23]. - The new business activities in China related to the development, manufacturing, and installation of gaming machines and equipment generated approximately SGD 2.3 million in revenue[46]. - The Chinese wine trading business began generating revenue starting from the third quarter of 2020[43]. Expenses and Costs - Cost of goods sold for the nine months was SGD 13,035,000, compared to SGD 9,950,000 in the previous year, representing a 31.1% increase[26]. - Total expenses for the nine months were SGD 16,623,000, up from SGD 12,386,000, indicating a 34.5% increase[26]. - The administrative expenses increased by approximately SGD 1.1 million or 50.0% to about SGD 3.3 million for the nine months ended September 30, 2020, primarily due to salaries and benefits related to new business activities in China[51]. - Research and development expenses increased to SGD 271,000 from SGD 113,000, reflecting a growth of 139.8%[26]. - The sales cost rose by approximately SGD 3.0 million or 30.0% to about SGD 13.0 million for the nine months ended September 30, 2020, consistent with the increase in revenue[47]. Dividends and Shareholder Information - The board of directors did not recommend the payment of dividends for the nine months ended September 30, 2020[6]. - The company did not recommend an interim dividend for the nine months ended September 30, 2020[39]. - As of September 30, 2020, the major shareholder, Tianyun Global Limited, owns 204,000,000 shares, representing 44.35% of the company's total shares[75]. - Ms. Shi Huiling holds 30,000,000 shares, accounting for 6.52% of the company's total shares[75]. Corporate Governance and Compliance - The company has adhered to the corporate governance code based on GEM listing rules, with compliance noted for the nine months ending September 30, 2020[90]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited financial data for the nine months ending September 30, 2020, ensuring compliance with applicable accounting standards and GEM listing rules[94]. - The company has confirmed that all directors have complied with the trading standards for securities transactions as per GEM listing rules for the nine months ending September 30, 2020[91]. Stock Options and Share Buybacks - The company has not granted any stock options as of September 30, 2020, under its stock option plan adopted on December 19, 2017[86]. - The stock option plan allows for a maximum of 10% of the issued shares to be granted, which equates to 40,000,000 shares[81]. - No stock options have been exercised or granted in the nine months ending September 30, 2020[86]. - No share buybacks or sales were conducted by the company or its subsidiaries in the nine months ending September 30, 2020[79]. Other Information - The company primarily engages in the manufacturing and sale of disposable medical device components and provides mold-making services in Singapore[15]. - The company adopted new accounting standards effective January 1, 2020, with no significant impact on its accounting policies[20]. - The financial costs for the nine months ended September 30, 2020, were SGD 0.23 million, slightly down from SGD 0.25 million for the same period in 2019[9]. - The financial costs remained stable at approximately SGD 0.2 million for both the nine months ended September 30, 2019, and 2020[52]. - The company has no knowledge of any other interests or short positions in its shares that require disclosure under the Securities and Futures Ordinance as of the report date[76]. - The company has no competition or conflicts of interest involving its directors or controlling shareholders as of the report date[87]. - The compliance advisor has no interests related to the company that require disclosure under GEM Listing Rules as of the report date[89].