Financial Performance - The company achieved a revenue of approximately SGD 37.7 million for the fiscal year ending December 31, 2024, reflecting a slight decline compared to the previous year[12]. - Gross profit remained stable at around SGD 12.9 million, indicating effective cost management and optimized production processes[13]. - The company recorded a profit attributable to owners of approximately SGD 3.2 million, with adjusted profit (excluding non-recurring items) at about SGD 5.8 million[13]. - The company's revenue for the fiscal year ending December 31, 2024, is approximately SGD 37.7 million, a decrease of about SGD 1.1 million or 2.7% from the previous year[26]. - The company reported a profit of approximately SGD 3.2 million for the fiscal year ending December 31, 2024, down from SGD 4.4 million in the previous year[32]. - The adjusted profit for the year (non-IFRS measure) was approximately 5.797 million SGD in 2024, down from 7.050 million SGD in 2023, reflecting a decrease of about 17.7%[33]. - The adjusted profit margin (non-IFRS measure) for 2024 was 15.4%, compared to 18.2% in 2023, indicating a decline of 1.8 percentage points[34]. Operational Highlights - The semiconductor division contributed approximately 89.2% of total revenue, supported by strong demand for precision engineering components[14]. - The company has a backlog of orders amounting to approximately SGD 19.5 million, indicating strong short-term demand[17]. - Precision machining services generated an increase in revenue of approximately SGD 1.5 million, driven by the recovery of the global aviation industry post-COVID-19[21]. - Precision welding services saw a revenue decrease of approximately SGD 2.6 million due to clients reducing their existing inventory[21]. - The company has an accumulated order backlog of approximately SGD 19.5 million as of December 31, 2024, down from SGD 24.9 million a year earlier[22]. - The company plans to enhance its technical capabilities and improve quality assurance processes to capture more market share in the long term[17]. - The company plans to expand its capacity and workforce to meet anticipated market demand growth, particularly in the aviation sector[24]. - The company aims to diversify its revenue sources by actively exploring opportunities in the aerospace, data storage, and energy sectors[17]. - The company aims to diversify its business into data storage, oil, and gas industries, seeking to establish partnerships with existing clients and explore new customer opportunities[24]. Financial Position - The company maintains a strong financial position with cash and bank balances of SGD 18.0 million as of December 31, 2024[14]. - As of December 31, 2024, the company had cash and bank balances of approximately 18.0 million SGD, an increase from 9.2 million SGD as of December 31, 2023[35]. - The total borrowings as of December 31, 2024, were approximately 2.5 million SGD, with an interest rate ranging from 3.44% to 7%[35]. - The debt-to-equity ratio as of December 31, 2024, was 6.4%, a significant decrease from 15.7% as of December 31, 2023[37]. - Capital expenditures for the year ended December 31, 2024, amounted to approximately 3.2 million SGD, up from 1.6 million SGD in the previous year, representing a 100% increase[38]. Corporate Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix C1, ensuring high standards of corporate governance[82]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring compliance with GEM Listing Rules[88]. - The company is committed to maintaining high ethical standards and transparency in its operations to maximize shareholder returns[84]. - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee specific areas of governance[85]. - The company will continue to review and improve its corporate governance practices to ensure compliance with the corporate governance code[83]. - The board regularly evaluates the implementation of the corporate governance system to enhance transparency and accountability[82]. - The company has arranged appropriate liability insurance for its directors and senior management to cover responsibilities arising from corporate activities[87]. Risk Management - The company has established a risk management and internal control policy to maintain high standards of corporate governance[131]. - The audit committee is responsible for reviewing the annual and interim performance reports and the financial and accounting policies[132]. - The board confirmed the effectiveness of the risk management and internal control systems for the year ending December 31, 2024[130]. - The company conducts an annual review of its risk management and internal control systems, reporting findings to the audit committee and the board[135]. - The company has set up appropriate arrangements for employees to confidentially raise concerns regarding financial reporting and internal controls[126]. Shareholder Relations - The company emphasizes the importance of timely and non-selective information disclosure to enable informed investment decisions by shareholders and potential investors[140]. - The company has implemented a shareholder communication policy to enhance relationships with shareholders and stakeholders through various communication channels[141]. - The company has not held any shareholder meetings since its listing on July 2, 2024[139]. Employee Management - Employee costs for the year ending December 31, 2024, are approximately SGD 9.6 million, an increase from SGD 8.8 million for the previous year[52]. - The company is actively improving employee compensation and benefits to attract and retain capable staff[52]. - The company recognizes employees as valuable assets and offers competitive compensation to attract and motivate them[196]. - The company aims to maintain a proper balance of diverse perspectives related to business growth and ensure structured recruitment practices at all levels, with approximately 22% of its 179 full-time employees being female as of December 31, 2024[94]. Board Composition and Appointments - Mr. Su Zhenyu was appointed as Executive Director on March 28, 2025, and is the General Manager of Singapore Precision Welding Pte. Ltd., managing semiconductor equipment spare parts production[61]. - Mr. Cheng Zhangjin was appointed as a director on December 7, 2021, and has been responsible for formulating overall business strategies and corporate development[64]. - The company has appointed PricewaterhouseCoopers LLC as the external auditor, with audit fees totaling 270,000 and non-audit fees of 307,000 for the year ending December 31, 2024[137]. - The company has engaged independent consultants to conduct an annual comprehensive review of its risk management and internal control systems[133]. Major Shareholders and Stock Options - Major shareholders include SGP BVI with 58,647,335 shares (39.10%), Baccini with 24,748,479 shares (16.50%), and Angelling with 12,299,998 shares (8.20%) as of December 31, 2024[193]. - The total number of shares held by directors and senior management amounts to 84,427,814, representing 56.29% of the total issued shares[189]. - The company has a stock option plan effective for 10 years from the date of adoption, with no further options to be granted after this period[187]. - The stock option plan includes performance-based vesting conditions rather than time-based[186]. - The company has not disclosed any new stock options or unexercised options as of December 31, 2024[188].

Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was SGD 37,722,000, a decrease of 2.7% from SGD 38,769,000 in the previous year[4] - Gross profit for the same period was SGD 12,866,000, down 10.8% from SGD 14,415,000 year-on-year[4] - Operating profit increased to SGD 6,379,000, representing a growth of 26.2% compared to SGD 5,054,000 in the prior year[4] - The net profit attributable to the owners of the company was SGD 3,193,000, a decrease of 30.7% from SGD 4,607,000 in the previous year[5] - Basic earnings per share from continuing operations rose to SGD 2.34, up from SGD 2.00, reflecting a 17% increase[5] - The company reported a total comprehensive income of SGD 3,083,000 for the year, down from SGD 4,598,000 in the previous year[5] - The company reported a net profit of 3,193 thousand SGD for the year, compared to a profit of 4,607 thousand SGD in 2023, reflecting a decline of 30.7%[8] - Basic earnings per share for 2024 was SGD 0.0234, compared to SGD 0.0374 in 2023, reflecting a decrease of 37.5%[29] - The group recorded a profit of approximately S$3.2 million and S$4.4 million for the years ending December 31, 2024, and 2023, respectively[51] - Adjusted profit (non-IFRS measure) for the year ending December 31, 2024, was approximately S$5.8 million, with an adjusted profit margin of 15.4%, compared to S$7.1 million and 18.2% for the year ending December 31, 2023[52] Revenue Breakdown - Precision machining services generated revenue of 17,077 thousand SGD, up 9.9% from 15,545 thousand SGD in the previous year[17] - Precision welding services saw a decline in revenue to 20,645 thousand SGD, down 11.1% from 23,224 thousand SGD in 2023[17] - Revenue from the semiconductor sector was 33,659 thousand SGD, slightly down from 34,077 thousand SGD in 2023[20] - The aerospace sector revenue increased significantly to 3,025 thousand SGD from 1,646 thousand SGD in the previous year, marking an increase of 83.7%[20] - Revenue from Singapore decreased to SGD 11,278,000 in 2024 from SGD 14,807,000 in 2023, representing a decline of 24.0%[22] - Revenue from Malaysia increased to SGD 17,037,000 in 2024, up 6.0% from SGD 16,072,000 in 2023[22] Assets and Liabilities - Total assets as of December 31, 2024, were SGD 76,500,000, a slight decrease from SGD 69,860,000 in the previous year[6] - Current assets increased to SGD 33,030,000, up from SGD 25,515,000, indicating a significant improvement in liquidity[6] - The net current assets improved to SGD 21,374,000, compared to SGD 9,900,000 in the previous year, showing a strong financial position[7] - Non-current liabilities decreased to SGD 25,432,000 from SGD 27,248,000, indicating a reduction in long-term financial obligations[7] - The company’s total equity as of December 31, 2024, was 26,997 thousand SGD, a decrease from 39,412 thousand SGD in 2023[8] - The total borrowings amounted to approximately S$2.5 million as of December 31, 2024, with an interest rate ranging from 3.44% to 7%[55] - The debt-to-equity ratio was 6.4% as of December 31, 2024, down from 15.7% as of December 31, 2023[56] Cash Flow and Investments - The net cash generated from operating activities for 2024 was 6,360 thousand SGD, a decrease of 39.8% compared to 10,486 thousand SGD in 2023[9] - Cash and cash equivalents increased by 8,866 thousand SGD, reaching a total of 17,974 thousand SGD at year-end, compared to 9,225 thousand SGD at the beginning of the year[9] - Capital expenditures for the year ending December 31, 2024, totaled approximately S$3.2 million, compared to S$1.6 million for the year ending December 31, 2023[57] - The company raised approximately S$65.34 million through the issuance of 27,000,000 shares at HK$2.42 each on July 2, 2024[61] - The remaining net proceeds from the share issuance are expected to be used for operational expansion, quality control enhancement, and marketing efforts, with a total of S$1.878 million allocated for these purposes[62] Operational Highlights - The company plans to expand its capacity and strengthen its workforce to meet anticipated market demand growth, particularly in the aerospace sector[44] - The company aims to diversify its customer base and explore new business opportunities in data storage, oil, and gas industries[44] - The group has an accumulated unfulfilled purchase order of approximately 19.5 million SGD as of December 31, 2024, down from 24.9 million SGD as of December 31, 2023[41] - The group reported related party transactions for the year ended December 31, 2024, including purchases of goods and services from Metasurface & Co amounting to SGD 179,000, up from SGD 91,000 in 2023[77] Employee and Governance - As of December 31, 2024, the group employed 179 staff, an increase from 141 staff in the previous year, with employee costs amounting to approximately SGD 9.6 million compared to SGD 8.8 million in the prior year[68] - The group emphasizes continuous employee development as a key success factor, providing regular training to enhance workforce knowledge[69] - The company has established an audit committee consisting of three independent non-executive directors to review accounting principles, internal controls, and financial reporting matters[91] - The company has complied with all relevant laws and regulations that significantly impact its business, including health and safety, workplace conditions, employment, and environmental regulations[88] - The company has adopted the corporate governance code principles and has maintained compliance with applicable principles and code provisions since its listing date[89]

Financial Performance - Revenue from continuing operations for the six months ended June 30, 2024, was SGD 18,598,000, a decrease of 1.5% compared to SGD 18,873,000 for the same period in 2023[7]. - Gross profit increased to SGD 7,395,000, representing a 1.7% increase from SGD 7,271,000 in the previous year[7]. - Operating profit significantly improved to SGD 3,488,000, up 159.5% from SGD 1,346,000 in the prior year[7]. - Profit before tax rose to SGD 2,754,000, a substantial increase of 297.4% compared to SGD 692,000 in the same period last year[7]. - Net profit from continuing operations was SGD 2,097,000, compared to SGD 75,000 in the previous year, marking a significant turnaround[7]. - Total comprehensive income for the period was SGD 2,098,000, down from SGD 2,268,000 in the previous year[8]. - Basic and diluted earnings per share from continuing operations increased to SGD 1.70, compared to SGD 0.21 in the previous year[8]. - Other income for the period was SGD 1,435,000, slightly up from SGD 1,412,000 in the previous year[7]. - The company reported a profit of 2,097 thousand SGD for the six months ended June 30, 2024, compared to a loss of 6,117 thousand SGD at the beginning of the year, showing a turnaround in performance[11]. - The company reported a profit of approximately SGD 2.1 million for the six months ended June 30, 2024, compared to SGD 2.2 million for the same period in 2023[58]. Expenses and Cost Management - Administrative expenses decreased to SGD 5,717,000 from SGD 7,151,000, reflecting improved cost management[7]. - Employee costs, including salaries and other benefits, decreased to 3,625,000 SGD from 5,514,000 SGD, representing a reduction of 34.2%[25]. - Sales costs increased to 2,555,000 SGD, up 7.4% from 2,378,000 SGD in the previous year[26]. - Administrative expenses significantly decreased to 1,547,000 SGD, down 57.1% from 3,609,000 SGD[26]. - The total costs for the period amounted to 4,102,000 SGD, down 31.5% from 5,987,000 SGD in the previous year[26]. Assets and Liabilities - As of June 30, 2024, the company's non-current assets totaled 43,948 thousand SGD, a slight decrease from 44,345 thousand SGD as of December 31, 2023, representing a decline of approximately 0.9%[9]. - The company's cash and bank balances increased significantly to 12,425 thousand SGD from 9,225 thousand SGD, marking a growth of 34.8%[9]. - The total equity attributable to the owners of the company as of June 30, 2024, was 29,095 thousand SGD, up from 26,997 thousand SGD, reflecting an increase of 7.7%[10]. - The company's total liabilities decreased to 26,468 thousand SGD from 27,248 thousand SGD, a reduction of approximately 2.9%[10]. - The company’s current liabilities slightly increased to 15,300 thousand SGD from 15,615 thousand SGD, a decrease of 2.0%[9]. - The total borrowings as of June 30, 2024, were 3,526 thousand HKD, down from 4,237 thousand HKD at the end of 2023, indicating a decrease of about 16.7%[45]. Revenue Breakdown - Revenue from semiconductor customers increased to 16,264 thousand, up 2.7% from 15,831 thousand in the prior year[17]. - Aerospace revenue rose significantly to 1,766 thousand, compared to 675 thousand in the previous year, marking a growth of 162.5%[17]. - Revenue from data storage customers decreased to 464 thousand, down 74.2% from 1,794 thousand in the same period last year[17]. - Revenue from Singapore, Malaysia, and the United States was 5,461 thousand, 8,253 thousand, and 2,882 thousand respectively, compared to 7,464 thousand, 6,916 thousand, and 3,103 thousand in the previous year[18]. Cash Flow and Investments - The net cash generated from operating activities for the six months ended June 30, 2024, was 6,455 thousand SGD, compared to 2,607 thousand SGD in the same period of 2023, indicating a substantial increase of 147.5%[12]. - The net cash used in investing activities was 403 thousand SGD for the six months ended June 30, 2024, compared to 331 thousand SGD in the same period of 2023, indicating an increase in investment outflows[12]. - Capital expenditures for the six months ended June 30, 2024, were approximately 1.6 million SGD, compared to 0.8 million SGD for the same period in 2023[64]. Shareholder Information - Major shareholder SGP BVI holds 58,647,335 shares, representing 39.10% of the total issued shares[84]. - Baccini holds 24,748,479 shares, accounting for 16.50% of the total issued shares[84]. - Angelling holds 12,299,998 shares, which is 8.20% of the total issued shares[84]. - The company increased its authorized share capital from SGD 67,000 to SGD 172,000 by issuing 620,000,000 shares[46]. - The company raised approximately 65.34 million HKD from the issuance of 27,000,000 shares at a price of 2.42 HKD per share on July 2, 2024[68]. Employee and Management - As of June 30, 2024, the company employed a total of 154 employees, up from 141 employees as of December 31, 2023[79]. - Employee costs for the six months ended June 30, 2024, were approximately 4.1 million SGD, compared to 3.7 million SGD for the same period in 2023, reflecting an increase of about 10.81%[79]. - The company believes that the quality, performance, and commitment of its employees are key to its success and long-term growth[79]. - The company regularly reviews compensation to attract and retain capable employees[79]. - The company provides internal training to enhance the knowledge level of its workforce[79]. Compliance and Governance - The company has complied with all relevant laws and regulations that significantly impact its business operations[99]. - The audit committee, consisting of three independent non-executive directors, reviewed the group's accounting principles and internal controls for the six months ended June 30, 2024[103]. - The board of directors believes that the current arrangement of having the same individual serve as both Chairman and CEO is beneficial for the group's management and aligns with the interests of the company and its shareholders[102].

Financial Performance - For the six months ended June 30, 2024, the Group reported revenue of HKD 18,598 million, a slight decrease of 1.5% compared to HKD 18,873 million for the same period in 2023[8]. - Gross profit for the same period was HKD 7,395 million, representing an increase of 1.7% from HKD 7,271 million in the previous year[8]. - Operating profit surged to HKD 3,488 million, a significant increase of 159.5% compared to HKD 1,346 million in the prior period[8]. - Profit before tax reached HKD 2,754 million, up 297.4% from HKD 692 million in the same period last year[8]. - Profit attributable to owners of the Company was HKD 2,097 million, compared to HKD 2,397 million in the previous year, reflecting a decrease of 12.5%[8]. - Total comprehensive income for the period was HKD 2,098 million, down from HKD 2,268 million in the same period of 2023[8]. Expenses and Costs - Administrative expenses decreased to HKD 5,717 million from HKD 7,151 million, indicating a reduction of 20.1%[8]. - The Group's financial costs were HKD 623 million, a marginal decrease from HKD 633 million in the previous year[8]. - The total employee costs, including salaries and other benefits, were 3,625,000 SGD for the six months ended June 30, 2024, down from 5,514,000 SGD in 2023, a decrease of approximately 34.3%[26]. - The company’s depreciation expenses for property, plant, and equipment amounted to 499,000 SGD for the six months ended June 30, 2024, compared to 653,000 SGD in 2023, a decrease of about 23.5%[26]. - The cost of sales increased to 2,555,000 SGD for the six months ended June 30, 2024, compared to 2,378,000 SGD in 2023, reflecting an increase of approximately 7.4%[27]. Cash Flow and Liquidity - The net cash generated from operating activities for the six months ended June 30, 2024, was 6,455 thousand SGD, a significant increase from 2,607 thousand SGD in the same period of 2023, representing a growth of approximately 147%[13]. - The company reported a net increase in cash and cash equivalents of 3,200 thousand SGD for the six months ended June 30, 2024, compared to a net increase of 239 thousand SGD in the same period of 2023[13]. - Current liabilities decreased to 15,300 thousand SGD from 15,615 thousand SGD, indicating improved liquidity management[10]. - The net current asset position improved to 11,615 thousand SGD from 9,900 thousand SGD, reflecting a stronger short-term financial position[10]. - The company’s cash and cash equivalents at the end of the period stood at 12,425 thousand SGD, a significant increase from 4,443 thousand SGD at the end of June 30, 2023[13]. Assets and Equity - Non-current assets totaled 43,948 thousand SGD as of June 30, 2024, slightly down from 44,345 thousand SGD at the end of 2023[10]. - Current assets increased to 26,915 thousand SGD from 25,515 thousand SGD, driven by a rise in cash and bank balances to 12,425 thousand SGD from 9,225 thousand SGD[10]. - The company's total equity attributable to owners increased to 29,095 thousand SGD from 26,997 thousand SGD, indicating a positive trend in shareholder value[11]. - The company’s total assets as of June 30, 2024, amounted to 5,279,000 SGD, reflecting a stable asset base compared to previous periods[32]. Revenue Breakdown - Revenue from the semiconductor sector increased to 16,264 thousand SGD in 2024, up from 15,831 thousand SGD in 2023, marking a growth of approximately 2.7%[18]. - Precision machining service revenue was 8,133 thousand SGD for the six months ended June 30, 2024, down from 8,202 thousand SGD in 2023, a decrease of approximately 0.8%[17]. - Precision welding service revenue was 10,465 thousand SGD for the six months ended June 30, 2024, compared to 10,671 thousand SGD in 2023, reflecting a decline of about 1.9%[17]. Shareholder Information - Major shareholders include SGP BVI with 58,647,335 shares, representing 39.10% of the total issued shares, and Baccini with 24,748,479 shares, representing 16.50%[82]. - The company issued and allotted 117,403,489 ordinary shares on July 2, 2024, following a resolution passed at the shareholders' meeting on June 7, 2024[46]. - The company’s capital increased from 67 thousand SGD to 172 thousand SGD due to the issuance of new shares[45]. Corporate Governance and Compliance - The board believes that good corporate governance is essential for protecting shareholder interests and enhancing corporate value[99]. - The audit committee reviewed the unaudited consolidated financial statements for the six months ended June 30, 2024, ensuring compliance with applicable accounting standards[101]. - The company has adhered to all relevant laws and regulations impacting its business, including health and safety, workplace conditions, and environmental standards[97]. Employee Information - As of June 30, 2024, the company employed a total of 154 employees, an increase from 141 employees as of December 31, 2023[77]. - Employee costs for the six months ended June 30, 2024, were approximately 4.1 million SGD, compared to 3.7 million SGD for the same period in 2023, reflecting a year-over-year increase of about 10.81%[77]. - The company emphasizes the importance of employee quality and performance for long-term growth and regularly reviews compensation packages to attract and retain talent[77]. Future Outlook - The Group plans to continue focusing on market expansion and new product development to drive future growth[8]. - The company aims to expand its business into data storage, oil and gas, and aerospace industries, focusing on diversifying its customer base[50]. - The company has no plans for significant investments or acquisitions in subsidiaries or associates for the six months ended June 30, 2024[65].