Financial Performance - For the six months ended June 30, 2023, the group's unaudited revenue was approximately SGD 5.3 million, a decrease of about SGD 2.5 million or 32.1% compared to SGD 7.8 million for the same period in 2022[4] - The unaudited loss for the six months ended June 30, 2023, was approximately SGD 2.7 million, compared to a loss of SGD 0.9 million for the same period in 2022[4] - Basic loss per share for the six months ended June 30, 2023, was 0.45 Singapore cents, compared to 0.19 Singapore cents for the same period in 2022[4] - The total comprehensive loss for the six months ended June 30, 2023, was SGD 2.747 million, compared to SGD 1.008 million for the same period in 2022[6] - The group reported a gross profit of SGD 22, a significant decrease from SGD 568 for the same period in 2022[6] - The company incurred operating losses of SGD 2.611 million for the six months ended June 30, 2023, compared to SGD 0.849 million for the same period in 2022[6] - For the six months ended June 30, 2023, the company reported a total comprehensive loss of SGD 2,579,000, compared to a loss of SGD 2,932,000 for the same period in 2022, representing a decrease of approximately 12% in losses[13] - The company reported a loss before tax of SGD 2,676,000 for the six months ended June 30, 2023, compared to a loss of SGD 938,000 for the same period in 2022[36] - The overall gross profit decreased by approximately SGD 0.6 million or 96.3%, falling to about SGD 22,000 for the six months ended June 30, 2023, from approximately SGD 0.6 million for the same period last year[97] - The overall gross profit margin dropped from approximately 7.7% for the six months ended June 30, 2022, to about 0.4% for the same period in 2023[97] Assets and Liabilities - Total assets as of June 30, 2023, were SGD 14.883 million, a decrease from SGD 16.317 million as of December 31, 2022[9] - Total liabilities as of June 30, 2023, were SGD 8.505 million, an increase from SGD 7.192 million as of December 31, 2022[11] - The company's equity attributable to owners was SGD 6.012 million as of June 30, 2023, down from SGD 8.647 million as of December 31, 2022[9] - As of June 30, 2023, the company's total equity attributable to equity holders was SGD 6,012,000, down from SGD 8,647,000 at the end of 2022, reflecting a decrease of approximately 30%[13] - The company's property, plant, and equipment net book value decreased to SGD 1,337,000 as of June 30, 2023, from SGD 1,589,000 at the beginning of the year[65] - The total borrowings amounted to approximately SGD 0.8 million as of June 30, 2023, compared to SGD 0.3 million as of December 31, 2022[105] Cash Flow and Financing - The company's cash flow from operating activities showed a net cash outflow of SGD 13,000 for the six months ended June 30, 2023, compared to a net inflow of SGD 1,950,000 in the same period of 2022, indicating a significant decline in operational cash generation[16] - The company raised SGD 518,000 through borrowings during the first half of 2023, compared to no borrowings in the same period of 2022, indicating a shift in financing strategy[19] - The total cash outflow for leases was SGD 933,000 for the six months ended June 30, 2023, compared to SGD 992,000 in 2022[69] Expenses - Employee benefits expenses for the six months ended June 30, 2023, were SGD 2,138,000, down from SGD 2,464,000, reflecting a reduction in workforce costs[44] - Research and development expenses increased to SGD 246,000 in 2023 from SGD 168,000 in 2022, indicating a focus on innovation despite overall losses[43] - The total unallocated expenses for the period were SGD 2,472,000, significantly impacting the overall financial performance[36] - Administrative expenses increased by approximately SGD 0.3 million or 23.1%, rising to about SGD 1.6 million for the six months ended June 30, 2023, from approximately SGD 1.3 million for the same period last year[98] Shareholder Information - The company issued 92 million new shares at SGD 0.10 per share, raising SGD 1,622,000 in cash during the reporting period[82] - The weighted average number of ordinary shares issued increased to 568,372,000 shares in 2023 from 483,996,000 shares in 2022[62] - Major shareholders include Mr. Leung with 57,016,000 shares (10.03%) and Mr. Xie with 61,612,000 shares (10.84%) as of June 30, 2023[128] - Mr. Pan holds 33,832,000 shares, representing 5.95% of the company, while Ms. Wu holds 52,694,000 shares, representing 9.27%[124] Governance and Compliance - The company maintains a high standard of corporate governance, complying with the GEM Listing Rules and the Corporate Governance Code[138] - The roles of Chairman and CEO are currently held by the same individual, Mr. Pan, which the board believes is in the best interest of the company and its shareholders[138] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial information for the six months ending June 30, 2023, ensuring compliance with applicable accounting standards and GEM Listing Rules[143] Market and Trading Information - Trading of the company's shares was suspended on August 15, 2023, pending the release of the interim results for the six months ending June 30, 2023[144] - The company plans to apply for the resumption of trading of its shares on August 22, 2023, following the publication of its interim results[144] Other Information - The company did not engage in any significant acquisitions or disposals of subsidiaries during the six months ended June 30, 2023[90] - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2023[131] - No major events affecting the company's business or financial performance were identified after the reporting period ending June 30, 2023[121]

（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].

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） （股份代號：8513） 截至二零二二年十二月三十一日止年度 全年業績公告 香港聯合交易所有限公司（「聯交所」） 的特色 GEM 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公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該 等內容而引致的任何損失承擔任何責任。 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，就彼等所深 知及確信，本 ...

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].

Financial Performance - For the three months ended March 31, 2022, the group's unaudited revenue was approximately SGD 3.9 million, a decrease of about SGD 1.2 million or 23.5% compared to SGD 5.1 million for the same period in 2021[5]. - The group recorded an unaudited loss of approximately SGD 205,000 for the three months ended March 31, 2022, compared to a loss of approximately SGD 62,000 for the same period in 2021[5]. - Gross profit for the three months ended March 31, 2022, was SGD 714,000, down from SGD 1.145 million in the same period of 2021[7]. - Operating loss for the three months ended March 31, 2022, was SGD 52,000, compared to an operating profit of SGD 50,000 for the same period in 2021[7]. - The total comprehensive loss for the three months ended March 31, 2022, was SGD 189,000, compared to a loss of SGD 38,000 for the same period in 2021[10]. - The group reported a basic and diluted loss per share of SGD 0.04 for the three months ended March 31, 2022[10]. - The company reported a net loss attributable to equity holders of SGD 185,000 for the three months ended March 31, 2022, compared to a loss of SGD 3,000 in 2021[33]. - Basic and diluted loss per share for the first quarter of 2022 was SGD (0.04), compared to an insignificant amount in 2021[33]. - The net loss for the same period was approximately SGD 205,000, compared to a net loss of approximately SGD 62,000 in the previous year, indicating an increase in losses due to a decrease in sales orders for disposable medical device components[42]. Revenue and Costs - Revenue for the three months ended March 31, 2022, was SGD 3,934,000, a decrease of 22.6% from SGD 5,084,000 in the same period of 2021[20]. - Cost of goods sold for the same period was SGD 1,550,000, down 25.4% from SGD 2,077,000 in 2021[22]. - The cost of sales decreased by approximately SGD 0.7 million or 17.9% to about SGD 3.2 million, consistent with the decrease in revenue[46]. Expenses - The group incurred administrative expenses of SGD 648,000 for the three months ended March 31, 2022, down from SGD 994,000 in the same period of 2021[7]. - Employee benefits expense decreased to SGD 1,222,000 from SGD 1,557,000, reflecting a reduction of 21.5%[22]. - Depreciation of property, plant, and equipment was SGD 112,000, down from SGD 139,000, a decrease of 19.4%[22]. - Interest expenses for the three months ended March 31, 2022, totaled SGD 42,000, down from SGD 61,000 in 2021, a reduction of 31.1%[23]. - Administrative expenses were reduced by approximately SGD 0.4 million or 40.0% to about SGD 0.6 million, primarily due to decreased R&D costs and the absence of administrative expenses from the disposed Chinese wine trading business[48]. Other Income and Grants - Other income for the three months ended March 31, 2022, was SGD 45,000, slightly up from SGD 43,000 in the same period of 2021[7]. - The company received government grants amounting to SGD 34,000, compared to SGD 30,000 in the previous year[20]. Dividends - The board of directors did not recommend the payment of dividends for the three months ended March 31, 2022, consistent with the previous year[5]. - The company does not recommend the payment of an interim dividend for the three months ended March 31, 2022, compared to no dividend in the same period last year[37]. Corporate Governance and Compliance - 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 the same individual[67]. - The audit committee has reviewed the unaudited financial information for the three months ended March 31, 2022, and confirmed compliance with applicable accounting standards and GEM listing rules[71]. Market Outlook - The company anticipates that the recovery of international trade and the global economy will continue, although challenges remain due to the ongoing war between Ukraine and Russia, as well as uncertainties from the COVID-19 pandemic[43]. - The company aims to continue exploring new business opportunities and optimizing resource utilization to ensure the resilience of its core business[43]. Share Information - The company has a total of 133,400,000 shares held by the beneficial owner, representing 28.00% of the total shares[58]. - The company has adopted a share option scheme allowing for the issuance of 40,000,000 share options, which accounts for approximately 8.4% of the total issued shares as of March 31, 2022[62]. - No share options were granted during the three months ended March 31, 2022, and there were no unexercised share options as of that date[65]. Foreign Exchange - The group experienced a foreign exchange loss of SGD 16,000 for the three months ended March 31, 2022, compared to a loss of SGD 24,000 for the same period in 2021[10].

Financial Performance - The overall performance of the company was impacted by a 16.8% decline in revenue due to reduced income from the development, manufacturing, sales, and installation of gaming machines and equipment in China[10]. - The company recorded an adjusted EBITDA loss of approximately SGD 3.0 million for the reporting period[10]. - The net loss for the reporting period was approximately SGD 7.2 million after accounting for depreciation, amortization, impairment losses, and financial costs[10]. - The group's revenue decreased by approximately SGD 3.4 million or 14.7% to about SGD 19.8 million for the fiscal year ended December 31, 2021, compared to approximately SGD 23.2 million for the fiscal year ended December 31, 2020[18]. - The overall gross profit decreased by SGD 1.0 million or 20.0% to approximately SGD 4.0 million for the fiscal year ended December 31, 2021, with the gross profit margin slightly declining from about 21.6% to approximately 20.2%[21]. - The group recorded a trade receivables and non-financial assets impairment loss of SGD 7.6 million, primarily from its subsidiary in China due to expected impairment losses on trade receivables[22]. - The group completed the sale of its entire equity interest in the Chinese liquor business, recording a profit from discontinued operations of approximately SGD 0.4 million for the fiscal year[29]. - The group will focus on internal rationalization initiatives and resource optimization to prepare for economic recovery in the coming quarters[17]. Operational Challenges - The ongoing COVID-19 pandemic has created unprecedented effects and challenges for the company's operations, with travel remaining severely limited[9]. - The company faced delays in customer product launches and inventory levels due to ongoing trade tensions and global economic uncertainties, impacting operational plans[45]. - The company is experiencing cash flow issues due to supply chain disruptions and delayed customer payments, necessitating a review of its financial strategies[47]. Management and Governance - The company has a strong leadership team with over 30 years of experience in the injection molding industry, particularly in medical device components[55]. - The financial and administrative director has been with the company for over 25 years, overseeing cash flow and financial reporting[57]. - The company has recently expanded its management team with independent directors who bring diverse expertise in finance and consulting[67][68]. - The company has undergone significant changes in its management structure, enhancing its governance and operational efficiency[66]. - The company is committed to maintaining strong financial oversight through its audit and compensation committees, led by experienced independent directors[65][67]. - The board consists of eight directors, including three executive directors, one non-executive director, and four independent non-executive directors, ensuring independent judgment[92]. - The board is responsible for overseeing the group's risk management and internal control systems, which are reviewed annually[126]. Financial Strategy and Future Outlook - The company remains hopeful for better days ahead, with high global vaccination rates providing some encouragement for economic recovery in the next fiscal year[10]. - The management acknowledges the need to be prepared for the economic recovery amidst ongoing lockdowns and travel restrictions[10]. - The company plans to reallocate approximately SGD 1.2 million of unutilized net proceeds originally designated for injection molding business to general working capital[48]. - The board will continue to assess the use of unutilized net proceeds and may revise plans as market conditions change to enhance operational performance[51]. Corporate Governance - The company has maintained a commitment to high standards of corporate governance to protect shareholder interests and enhance corporate value[87]. - The company has adhered to the corporate governance code, with the exception of the separation of roles between the chairman and CEO, which is currently held by the same individual[87]. - The company emphasizes the importance of transparency and accountability in its governance practices[86]. - The audit committee is responsible for reviewing quarterly, interim, and annual financial statements before submission to the board[107]. - The company has established three functional committees to assist the board in fulfilling its responsibilities[104]. Shareholder Relations - The company encourages shareholders to attend annual general meetings to maintain effective communication[138]. - The company’s major shareholders included 添運環球有限公司, which held 133,400,000 shares, representing 28.00% of the total[170]. - The company did not recommend any final dividend for the fiscal year 2021[146]. Impairment and Asset Management - The impairment loss recognized for the gaming machines and equipment segment was approximately SGD 7,637,000 for the year ended December 31, 2021[198]. - Management is required to perform impairment testing annually for goodwill and whenever there are indications of impairment for other non-financial assets[198]. - Significant judgments and estimates are necessary to determine the recoverable amount of cash-generating units, including expected revenue growth and discount rates[198].