Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of SGD 29,461,000, a decrease of 4.24% from SGD 30,765,000 in 2023[4] - The gross profit for the year was SGD 7,412,000, down 13.00% from SGD 8,517,000 in the previous year[4] - The company incurred a net loss attributable to owners of SGD 4,161,000, compared to a loss of SGD 1,071,000 in 2023, representing a significant increase in losses[5] - Revenue from customer contracts for 2024 was SGD 29,461,000, a decrease of 4.25% from SGD 30,765,000 in 2023[13] - The company reported a total loss before tax of SGD 4,173,000 for the year ended December 31, 2024[22] - The company reported a loss attributable to owners of SGD 4,161,000 for the year ended December 31, 2024, compared to a loss of SGD 1,071,000 in 2023, indicating a significant increase in losses[28] - The company recorded total revenue of approximately SGD 29.5 million for the year ended December 31, 2024, a decrease of about SGD 1.3 million or approximately 4.2% compared to the previous fiscal year[38] - The company incurred a loss of approximately SGD 4.2 million for the year ended December 31, 2024, compared to a loss of approximately SGD 1.1 million for the year ended December 31, 2023[45] Assets and Liabilities - The total assets less current liabilities increased to SGD 30,246,000 from SGD 20,961,000, indicating improved asset management despite the losses[6] - Cash and cash equivalents rose to SGD 6,842,000 from SGD 1,607,000, reflecting a strong liquidity position[6] - The company reported a decrease in non-current assets to SGD 15,411,000 from SGD 17,945,000, primarily due to impairments and depreciation[6] - The company’s total equity increased to SGD 23,392,000 from SGD 13,759,000, indicating a stronger capital base[7] - The group’s total liabilities included a tax expense of SGD 12,000 for the year, compared to an expense of SGD 146,000 in 2023[23] - The company's total borrowings as of December 31, 2024, were approximately SGD 7.4 million, down from SGD 10.9 million in the previous year, resulting in a debt-to-equity ratio of approximately 31.5%[49] Income and Expenses - Interest income increased to SGD 33,000 in 2024 from SGD 30,000 in 2023, while total other income rose to SGD 699,000 from SGD 539,000[16] - The company’s financing costs increased to SGD 496,000 from SGD 434,000, reflecting higher borrowing costs[4] - The company's administrative and other operating expenses increased by approximately SGD 2 million or about 32.3% to approximately SGD 8.2 million for the year ended December 31, 2024, primarily due to increased employee costs[42] - The company's employee benefits expenses rose to SGD 4,676,000 in 2024 from SGD 3,994,000 in 2023, reflecting an increase of approximately 17.1%[26] - The cost of goods sold for the year was SGD 21,434,000, a slight decrease from SGD 22,178,000 in 2023[26] Market Strategy and Expansion - The company plans to focus on expanding its market presence in Singapore and Hong Kong, particularly in the food and healthcare sectors[9] - The company has launched a new dining business in Hong Kong as part of its market expansion strategy[21] - The company plans to continue exploring diverse opportunities to broaden revenue sources and enhance market share despite the uncertain global economic outlook[37] Shareholder Information - The total issued and paid-up shares increased to 398,606,168 shares by the end of 2024, up from 99,652,000 shares at the beginning of the year, following a rights issue[33] - The rights issue raised approximately SGD 17,532,000, with net proceeds of about SGD 17,182,000 after expenses[33] - The group has a total of 398,606,168 shares outstanding as of December 31, 2024, with significant shareholders holding the following percentages: Chen Shao Yi at 11.8%, Ni Chao Xiang at 13.15%, and Zuwegnsi Technology Group Limited at 14.97%[60][61] - The group has a share incentive plan in place, which aims to reward and retain qualified participants, with a maximum share purchase limit of 10% of the total issued shares at the beginning of each year[68][69] Corporate Governance - The company has adhered to the corporate governance code as per GEM listing rules for the year ending December 31, 2024[73] - The audit committee, consisting of three independent non-executive directors, has reviewed the audited financial performance for the year ending December 31, 2024, confirming compliance with applicable accounting standards and regulations[75] - The company has confirmed that there were no conflicts of interest or competitive businesses involving directors or major shareholders for the year ending December 31, 2024[72] - The company has adopted trading standards for directors' securities transactions in accordance with GEM listing rules[74] - The annual report for the year ending December 31, 2024, will be distributed to shareholders and published on the company's website at an appropriate time[76] - The board of directors has collectively and individually confirmed the accuracy and completeness of the information disclosed in the announcement[78] Employee and Training - As of December 31, 2024, the total employee cost for the group was approximately SGD 4.8 million, an increase from SGD 4.1 million in 2023[57] - The group provided various training programs to enhance employee skills and capabilities[57]
COOL LINK(08491) - 2024 - 年度业绩