Revenue and Profit Performance - Revenue for FY2023 decreased by 5.8% year-on-year to 435.9million,comparedto462.9 million in FY2022[2] - Gross profit declined by 21.0% to 7.2millioninFY2023,downfrom9.1 million in FY2022[2] - Net income dropped significantly by 69.3% to 1.1millioninFY2023,comparedto3.7 million in FY2022[2] - Net income for 2023 was 1,132,650,asignificantdecreasefrom3,685,000 in 2022[15] Sales and Market Expansion - Sales volume surged by 18% year-on-year in FY2023, partially offsetting the impact of a 20% drop in average oil prices[4] - The company expanded its supply network from 36 ports in FY2022 to over 55 ports in FY2023, covering both Asia Pacific and Europe[5] - The company raised 15millionfromanIPOinMarch2023,enablingexpansionintoEuropeandnewcustomeracquisition[3]OperatingExpensesandCosts−Operatingexpensesincreasedby27.15.5 million in FY2023, primarily due to listing-related costs and business expansion[2][6] - Depreciation and amortization expenses increased to 170,826in2023from88,175 in 2022[15] - Cash paid for interest in 2023 was 302,486,upfrom261,703 in 2022[15] - Cash paid for income taxes in 2023 was 794,910,comparedto688,790 in 2022[15] Cash Flow and Financial Position - Cash position improved to 7.4millioninFY2023,upfrom5.0 million in FY2022[11] - Net cash used in operating activities for 2023 was (10,032,854),comparedtonetcashprovidedbyoperatingactivitiesof3,499,133 in 2022[15] - Net cash provided by financing activities was 13,176,717in2023,comparedtonetcashusedinfinancingactivitiesof(1,128,453) in 2022[15] - Cash at the end of 2023 was 7,402,890,anincreasefrom5,032,890 at the end of 2022[15] Accounts Receivable and Payable - Accounts receivable increased to 25.1millioninFY2023,comparedto18.4 million in FY2022[11] - Accounts receivable decreased by 6,679,675in2023,comparedtoadecreaseof402,941 in 2022[15] - Accounts payable increased by 14,779,300in2023,comparedtoadecreaseof5,644,677 in 2022[15] Prepayments and Other Assets - Prepayments and other current assets decreased by 19,042,364in2023,comparedtoanincreaseof3,580,806 in 2022[15] New Business Initiatives - The company launched biofuel trading activities in FY2023, marking a significant step in alternative fuel exploration[3]