Financial Performance - Anacle Systems Limited reported a total revenue of SGD 18.9 million for the fiscal year ending December 31, 2020, with a net loss after tax of SGD 130,000[10]. - The revenue from the smart city management software segment reached SGD 13.3 million, representing a growth of 29.4% compared to the previous year[11]. - The smart utility management solutions segment saw a revenue increase of 49.1%, totaling SGD 3.46 million, indicating a recovery in project delivery pipelines[11]. - The myBill utility revenue assurance platform achieved a record growth rate of 247.1%, now accounting for 10.1% of the total group revenue[11]. - The revenue for FY2020 reached 18,933,000 SGD, marking a significant increase compared to 13,333,000 SGD in FY2019, representing a growth of 42.5%[21]. - The adjusted EBITDA for FY2020 was 2,090,000 SGD, a significant improvement from the adjusted EBITDA of (4,560,000 SGD) in FY2019[21]. - The gross profit for 2020 was 7,594,160 SGD, compared to 2,708,293 SGD in 2019, marking a significant increase of 180.0%[23]. - The total revenue for the fiscal year amounted to S$15,250,431, a significant increase from S$10,864,250 in the previous year[46]. - The company reported a net loss of SGD 131,374 for the year, leading to a slight decrease in total equity to SGD 11,827,282 from SGD 11,924,669 in FY2019[70]. Market and Strategic Focus - The company continues to focus on the Southeast Asian market following the economic downturn in Singapore, which is experiencing its most severe recession since independence[13]. - The global smart city market is projected to exceed 2 trillion USD (2.7 trillion SGD) by 2025, positioning the company for future growth opportunities[15]. - The geographical revenue distribution showed Singapore contributing 92.3% of total revenue, up from 84.0% in 2019, while China dropped to 1.6% from 14.0%[41]. - The company plans to actively expand its customer base and channel partners through acquisitions both locally and internationally[81]. Challenges and Risks - The company faced challenges due to the deteriorating international economic environment, particularly in China, leading to the relinquishment of control over a joint venture in Hangzhou[13]. - The operating environment is expected to remain challenging in the coming year due to ongoing local and global uncertainties[13]. - The company anticipates a challenging fiscal year 2021 due to the ongoing impact of the COVID-19 pandemic on market conditions[25]. - The company faces risks from changes in government policies and industry standards in the markets it operates, which could impact its financial performance[87]. Corporate Governance - The company has maintained compliance with all applicable corporate governance codes during the fiscal year[117]. - The board of directors has adopted a code of conduct for securities trading, ensuring adherence to the standards set forth in the listing rules[118]. - The company is committed to enhancing shareholder value through robust corporate governance practices[116]. - The board consists of eight members, with over 60% being non-executive and independent non-executive directors[121]. - The company has established a risk management and internal control system to minimize risks associated with its operations[154]. Operational Highlights - Anacle secured its largest project to date, providing a next-generation smart property management system for the Singapore Housing Development Board, which manages over 1 million residential units[12]. - The company completed the deployment of Starlight smart green home solutions in FY2020, despite challenges posed by the COVID-19 pandemic[61]. - The company has implemented an employee stock option plan to enhance loyalty among senior management[82]. - The company has a strong focus on project management and business development, led by a team with over 16 years of experience in IT and business consulting[103]. Cash Flow and Assets - The company generated over 4 million SGD in additional cash reserves from operations in FY2020, ensuring sufficient cash flow to sustain operations[15]. - Total cash increased to SGD 4,749,041 in FY2020 from SGD 2,428,307 in FY2019, reflecting improved cash levels due to increased revenue and reduced total costs[70]. - Total assets increased to 15,651,000 SGD in FY2020 from 15,401,000 SGD in FY2019, indicating a stable financial foundation[21]. Employee and Operational Changes - Employee count decreased by 23.2% to 136 employees, primarily due to the merger cancellation of a subsidiary in Hangzhou, China, while employee costs decreased by 4.5%[93]. - The company has no financial instruments to hedge foreign exchange risks but continues to monitor and manage these risks[78]. Research and Development - Research and development expenses were limited, with a focus on minor improvements to existing products like Simplicity® and myBill®[65].
安科系统(08353) - 2020 - 年度财报