Financial Performance - For the three months ended March 31, 2020, the group's unaudited revenue was approximately SGD 4.8 million, an increase of approximately SGD 2.2 million or 83.5% compared to SGD 2.6 million for the same period in 2019[6] - The group recorded an unaudited loss of approximately SGD 173,000 for the three months ended March 31, 2020, compared to a loss of approximately SGD 1.3 million for the same period in 2019[6] - Basic and diluted loss per share for the three months ended March 31, 2020, was SGD 0.04, compared to SGD 0.31 for the same period in 2019[6] - The total comprehensive loss for the period was SGD 131,000, compared to SGD 1.25 million for the same period in 2019[13] - The group's gross profit for the three months ended March 31, 2020, was SGD 943,000, compared to a gross loss of SGD 365,000 for the same period in 2019[10] - Other income for the three months ended March 31, 2020, was SGD 254,000, compared to SGD 50,000 for the same period in 2019[10] - The company reported a net loss attributable to equity holders of 185 thousand Singapore dollars in Q1 2020, compared to a net loss of 1,250 thousand Singapore dollars in Q1 2019, indicating a significant improvement[33] - The overall gross profit improved from a gross loss of approximately SGD 0.4 million to a gross profit of approximately SGD 0.9 million, representing an increase of approximately 358.4%[44] - The overall gross margin increased from a gross loss margin of approximately 13.9% to a gross profit margin of approximately 19.6%[44] Administrative and Operational Expenses - The group incurred administrative expenses of SGD 1.125 million for the three months ended March 31, 2020, compared to SGD 749,000 for the same period in 2019[10] - Employee benefit expenses rose to 1,495 thousand Singapore dollars in Q1 2020 from 1,303 thousand Singapore dollars in Q1 2019, reflecting a 14.7% increase[26] - The group's administrative expenses increased by approximately SGD 0.3 million or 50.2% to about SGD 1.1 million for the three months ended March 31, 2020[45] - The increase in administrative expenses was mainly due to combined administrative expenses of approximately SGD 0.3 million from Angao and Pin Hao[46] Acquisition and Business Development - The group completed the acquisition of Pinhao Global Limited and its subsidiaries, which primarily engage in the development, manufacturing, and sales of gaming machines and equipment in China[17] - The acquisition of Pin Hao was completed on January 3, 2020, for a total consideration of 16 million Hong Kong dollars, with performance bonuses potentially increasing the total to 48 million Hong Kong dollars[36] - The newly acquired business contributed revenue of 977 thousand Singapore dollars and net profit of 244 thousand Singapore dollars during the period from January 3 to March 31, 2020[37] Dividend and Shareholder Information - The board of directors did not recommend the payment of a dividend for the three months ended March 31, 2020[7] - The company did not declare an interim dividend for the period ending March 31, 2020[35] - As of March 31, 2020, the company did not purchase, sell, or redeem any of its listed securities[60] - The company has not granted any share options under its share option scheme as of the report date[61] - There were no reported non-compliance incidents by directors regarding securities transactions during the three months ended March 31, 2020[66] - The company has not disclosed any other interests or short positions in its shares as required by the Securities and Futures Ordinance[59] Governance and Compliance - The company has maintained high standards of corporate governance to protect shareholder interests and enhance corporate value, complying with the GEM Listing Rules[65] - The audit committee has reviewed the unaudited consolidated financial information for the three months ended March 31, 2020, and confirmed compliance with applicable accounting standards and GEM Listing Rules[69] - The audit committee is composed of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[67] - The chairman and CEO roles are held by the same individual, which the board believes is in the best interest of the company and its shareholders[65] - The company has not made any recommendations for the appointment or dismissal of external auditors as of the report date[69] Market and Future Outlook - The increase in revenue was primarily due to an increase in customer orders for disposable medical device injection molded plastic components by approximately SGD 1.2 million and sales of gaming machines and equipment amounting to approximately SGD 1.0 million[42] - The group believes that its diversified business segments will enhance its sustainable growth capability amid the uncertainties caused by the COVID-19 pandemic[40] - The group will continue to focus on providing excellent products and services to maintain competitiveness and attract more customers[40] - The group’s Singapore subsidiary will continue operations as it is part of the essential supply chain during the circuit breaker measures implemented by the government[40] Finance Costs and Taxation - The company incurred finance costs of 68 thousand Singapore dollars in Q1 2020, down from 91 thousand Singapore dollars in Q1 2019[28] - The effective tax rate for Singapore was maintained at 17% for both 2020 and 2019, with a deferred tax expense of (22) thousand Singapore dollars in Q1 2020[32]

Financial Performance - For the fiscal year ending December 31, 2019, the company recorded a revenue of approximately SGD 15.2 million, a decrease of about SGD 1.3 million or 7.8% compared to the fiscal year ending December 31, 2018[10]. - The company reported a net loss of approximately SGD 1.7 million for the fiscal year 2019, an improvement of about SGD 1.4 million from a net loss of SGD 3.1 million in the fiscal year 2018[10]. - The decrease in revenue was mainly due to a reduction in customer order volume, although there was an improvement in order volume in the last quarter of 2019[10]. - Revenue decreased by approximately SGD 1.3 million or about 7.8% from approximately SGD 16.5 million in the fiscal year 2018 to approximately SGD 15.2 million in 2019, mainly due to a reduction in customer orders[14]. - Overall gross profit decreased by approximately SGD 0.4 million or about 20.5% from approximately SGD 1.9 million in 2018 to approximately SGD 1.5 million in 2019, with the gross profit margin dropping from about 11.6% to 10.0%[17]. - Total employee costs for the fiscal year 2019 were approximately SGD 5.1 million, a slight decrease from SGD 5.2 million in 2018[38]. - The distributable reserves of the company as of December 31, 2019, were approximately SGD 8.9 million, a decrease from SGD 9.7 million in the fiscal year 2018[138]. - The company did not recommend any final dividend for the fiscal year 2019[126]. Business Operations - Customer orders for the core business of manufacturing and selling disposable medical device components began to increase since the fourth quarter of 2019, despite a challenging operating environment[9]. - The company completed the acquisition of Pin Hao Global Limited on January 3, 2020, which primarily engages in the development, manufacturing, and installation of gaming machines and equipment in China[9]. - The company is diversifying its business by launching a Chinese liquor trading business through its indirectly owned subsidiary in China[9]. - The company has diversified its revenue sources by engaging in the trade of Chinese alcoholic beverages and developing, manufacturing, and installing gaming machines and equipment, which is expected to enhance financial performance[13]. - The company plans to develop and enhance its injection molding business, with SGD 4.11 million allocated for this purpose, although full utilization has been delayed due to customer product transition[43]. - The company has faced delays in hiring sales and marketing staff, impacting the utilization rate of allocated funds for this purpose[43]. Governance and Compliance - The board of directors confirmed the accuracy and completeness of the report, ensuring no misleading or fraudulent elements were present[2]. - 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, Mr. Pan[75]. - The company emphasizes the importance of sound corporate governance for long-term success and shareholder value creation[74]. - The company has established service agreements with non-executive and independent non-executive directors, with a one-year term and a notice period for termination[78]. - The audit committee reviewed the audited annual results for the fiscal year 2019 and confirmed that the annual report complies with applicable standards and regulations[94]. - The company has maintained compliance with applicable laws and regulations, ensuring significant operational adherence[131]. - The company has not experienced any non-compliance events during the fiscal year 2019 according to the directors' confirmations[171]. Financial Position - As of December 31, 2019, the company had cash and cash equivalents of approximately SGD 3.5 million, down from SGD 6.4 million in 2018[23]. - Total borrowings amounted to approximately SGD 5.5 million as of December 31, 2019, which included lease liabilities of approximately SGD 4.6 million and bank borrowings of approximately SGD 0.9 million[24]. - The current ratio as of December 31, 2019, was approximately 2.0 times, down from 3.1 times in 2018, primarily due to a decrease in cash and cash equivalents[23]. - The carrying amounts of property, plant, and equipment, and right-of-use assets are SGD 1.9 million and SGD 4.5 million, respectively, accounting for a significant portion of total assets[199]. Management and Directors - Tan Yew Bock appointed as independent non-executive director since December 19, 2017, with experience in engineering and management in the medical technology sector[59]. - Wang Jianyuan serves as independent non-executive director and audit committee chairman, with over 24 years of experience in financial auditing for multinational companies[60]. - Zhou Wenguang has been an independent non-executive director since December 19, 2017, with over 15 years of legal practice experience[62]. - Fu Zhi Hui promoted to operations manager in February 2019, responsible for managing production operations at Inzign[63]. - Liu Zhongwei appointed as company secretary on August 25, 2017, with over 15 years of accounting and finance experience[70]. - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors, ensuring independent judgment[78]. Risk Management - The board and senior management are responsible for overseeing the risk management and internal control systems, which were reviewed during the reporting period[107]. - The company has not established an internal audit function but has engaged Crowe Horwath First Trust Risk Advisory Pte Ltd to review internal controls[107]. - The impairment assessment procedures include understanding management's processes and evaluating key assumptions such as revenue growth rates and discount rates[196]. - The company analyzes revenue growth rates based on past performance and customer order expectations[200].

Third Quarterly Report 第三季度 業績報告 2019 IAG Holdings Limited 迎宏控股有限公司 (Incorporated in the Cayman Islands with limited liability) Stock code : 8513 2019 IAG Holdings Limited 迎宏控股有限公司 （於開曼群島註冊成立的有限公司） 股份代號 : 8513 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 ...

IAG Holdings Limited 迎宏控股有限公司 | --- | --- | |-------------------------------------------------------------------------------|----------------------| | | | | | | | | IAG Holdings Limited | | | | | | | | | | | 迎宏控股有限公司 | | | | | | (Incorporated in the Cayman Islands with limited liability) Stock code : 8513 | | IAG Holdings Limited 迎宏控股有限公司 2019 INTERIM REPORT 中期報告 INTERIM REPORT 2019 股份代號 : 8513 （於開曼群島註冊成立的有限公司） 2019 中期報告 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 公司具有更高投資風險。有意投資者應了解投資於該 ...

| --- | --- | |-------|------------------------------------------------------------------------| | | | | | IAG Holdings Limited 迎宏控股有限公司 ( 於開曼群島註冊成立的有限公司 ) | 股份代號：8513 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。 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 有關迎宏控股有限公司（ ...

Financial Performance - For the fiscal year ending December 31, 2018, the company reported a revenue decrease of approximately SGD 4.2 million or 20.5%, totaling around SGD 16.5 million[12] - The company recorded a net loss of approximately SGD 3.1 million, an increase in loss of about SGD 2.3 million compared to a net loss of SGD 0.8 million in the fiscal year 2017[12] - The decline in revenue was primarily due to customer transitions to new products, which also led to a decrease in gross profit and gross margin by approximately SGD 2.5 million[15] - The group's revenue decreased from approximately SGD 20.7 million in FY2017 to about SGD 16.5 million in FY2018, a decline of approximately 20.5%[17] - The overall gross profit fell from approximately SGD 4.4 million in FY2017 to SGD 1.9 million in FY2018, a decline of about 56.8%, with the gross profit margin dropping from approximately 21.3% to 11.6%[21] - The group reported a net loss of approximately SGD 3.1 million for FY2018, compared to a net loss of about SGD 0.8 million in FY2017[24] Operational Insights - The company anticipates potential volatility due to customer product/platform transitions and uncertainties from global trade disputes[13] - The company remains focused on maintaining operational excellence and enhancing its manufacturing product development capabilities[16] - The company aims to develop new customers while leveraging its experience and production expertise to implement its business strategy[16] - The cost of sales reduced from approximately SGD 16.3 million in FY2017 to about SGD 14.6 million in FY2018, a decrease of approximately 10.6%[18] - Administrative expenses decreased from approximately SGD 5.0 million in FY2017 to about SGD 4.5 million in FY2018, a reduction of approximately 8.9%[23] Cash and Capital Management - As of December 31, 2018, the current ratio was approximately 3.1 times, up from 1.2 times in 2017, primarily due to cash inflow from a share placement[27] - The total cash and cash equivalents as of December 31, 2018, were approximately SGD 6.4 million, compared to SGD 1.2 million in 2017[27] - The net proceeds from the share issuance amounted to approximately SGD 6.0 million, intended for future plans as outlined in the prospectus dated December 29, 2017[48] - As of December 31, 2018, the actual utilization of the net proceeds was SGD 983,000 out of a planned amount of SGD 2.8 million, leaving a total unutilized amount of SGD 4.967 million[49] Governance and Management - Liu Youzhuan was appointed as an independent non-executive director on June 15, 2018, and has 18 years of experience in financial reporting, auditing, and compliance[68] - The company has a strong management team with extensive experience in various industries, including finance, law, and engineering[66][68][70] - The company secretary, Liu Zhongwei, was appointed on August 25, 2017, indicating a stable governance structure[77] - The management team includes professionals with backgrounds in public accounting and corporate law, enhancing the company's compliance and governance capabilities[68][69][70] - The company emphasizes the importance of sound corporate governance for long-term success and shareholder value creation[81] Risk Management and Compliance - The board believes that the risk management and internal control systems of the group are effective[117] - The company has engaged Crowe Horwath First Trust Risk Advisory Pte Ltd to review internal controls and provide improvement recommendations[117] - The company is committed to ensuring compliance with applicable laws and regulations, with no known significant non-compliance issues[141] - The audit committee confirmed that the annual report for fiscal year 2018 complies with applicable standards, GEM listing rules, and other legal requirements[103] Future Outlook and Strategy - The company provided a positive outlook for the next quarter, projecting revenue growth of 10% to 12%[200] - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[200] - The company is investing in new technology development, allocating $50 million towards R&D initiatives[200] - Market expansion efforts are underway, with plans to enter three new international markets by the end of the year[200] - The company is considering strategic acquisitions to enhance its market position, with a budget of $300 million earmarked for potential deals[200] Customer and Supplier Dynamics - The top five customers accounted for approximately 99.2% of the total revenue for the fiscal year 2018, with the largest customer contributing about 56.2%[169] - The top five suppliers represented around 83.4% of the total procurement amount for the fiscal year 2018, with the largest supplier accounting for approximately 31.4%[170]