Financial Performance - The group's revenue increased from approximately SGD 34.8 million for the year ended December 31, 2018, to approximately SGD 36.7 million for the year ended December 31, 2019, representing a growth of about 5.5%[10] - Gross profit rose from approximately SGD 5.6 million to approximately SGD 5.7 million, consistent with the revenue increase, while the gross profit margin decreased from about 16.0% to approximately 15.6% due to adjustments in business strategy to cope with intense market competition[10] - The group recorded a loss of approximately SGD 1.2 million for the year ended December 31, 2019, compared to a loss of approximately SGD 2.5 million for the year ended December 31, 2018, primarily due to reduced administrative expenses and the impact of government subsidies[10] - Revenue from human resource outsourcing services rose from approximately SGD 33.5 million to approximately SGD 35.3 million, an increase of about 5.4%[17] - Revenue from human resource recruitment services increased from approximately SGD 1.2 million to approximately SGD 1.4 million, a growth of 16.7%[18] - Other human resource support services revenue decreased from approximately SGD 68,000 to approximately SGD 28,000, a decline of 58.8%[20] - The group's service costs rose from approximately SGD 29.2 million to approximately SGD 31.0 million, an increase of about 6.2%[21] - Administrative expenses decreased from approximately SGD 8.0 million to approximately SGD 6.9 million, a reduction of 13.8%[24] - The group reported a loss of approximately SGD 1.2 million for the year ended December 31, 2019, a reduction of about 52.0% compared to a loss of approximately SGD 2.5 million in the previous year[28] Assets and Liabilities - As of December 31, 2019, the total assets of the group decreased to approximately SGD 20.2 million, down from SGD 21.0 million in 2018, while total equity decreased to approximately SGD 15.6 million from SGD 17.2 million[32] - The group's current assets decreased to approximately SGD 19.6 million from SGD 20.7 million in 2018, and current liabilities increased to approximately SGD 4.5 million from SGD 3.8 million[32] - The group had cash and cash equivalents of approximately SGD 12.7 million, down from SGD 13.9 million in 2018, with a current ratio of approximately 4.3 compared to 5.5 in 2018[32] Environmental Impact - The company reported a reduction of approximately 2.85 tons or 4.45% in greenhouse gas emissions, totaling about 61.15 tons for the year 2019 compared to 2018[58] - The total electricity consumption for the year 2019 was 77,406 kWh, a decrease of about 4.5% from 81,049 kWh in 2018[62] - The company aims to reduce indirect carbon emissions by 1.5% in the coming year[58] - The number of printed pages decreased by 59,999 pages or approximately 15.6% in 2019, totaling 324,336 pages[63] - The company recorded an increase of approximately 13.6% in energy consumption per internal employee, with 1,228.26 kWh per employee in 2019 due to a reduction in staff from 75 to 63[62] - The company has implemented measures to enhance environmental awareness among employees and business partners[55] - The company does not produce any harmful wastewater and only consumes a small amount of water for daily hygiene needs[58] - The company has not received any violations or fines related to air, water, or waste pollution during the reporting period[59] - The company continues to invest in energy-efficient equipment and encourages employees to use public transportation[56] Employee and Training - The company employed a total of 1,311 employees as of December 31, 2019, with 63 being internal employees and 1,248 being outsourced employees[73] - The gender distribution among employees was 61.5% male and 38.5% female, indicating a significant male majority[76] - The percentage of internal employees receiving external training in 2019 was 42.8%, with 27 out of 63 internal employees trained[89] - The total training hours for external training in 2019 amounted to 640 hours, while internal training hours were zero[89] - The company has committed to continue providing internal and external training programs for employees to enhance their skills in the coming years[89] Governance and Compliance - The company has established internal controls to prevent corruption and fraud, with no reports of bribery or corruption cases during the reporting period[98] - The company has adopted and complied with the corporate governance code as per GEM listing rules, with a specific deviation noted in the report[104] - The board of directors consists of seven members, including four independent non-executive directors, exceeding the GEM listing rules requirement[113] - The company has established a governance framework to ensure compliance with legal and regulatory requirements[135] - The independent auditor, Guowei CPA Limited, was appointed to provide auditing and non-auditing services for the group[140] Future Plans and Investments - The company has no significant future investment or capital asset plans beyond those disclosed in the prospectus and annual report as of December 31, 2019[42] - The company continues to explore advanced IT systems to support its operations, indicating ongoing investment in technology[195] - The company plans to utilize the remaining funds conservatively due to weak economic conditions, with no significant changes expected in the planned use of proceeds[195] Board and Management - The chairman and CEO roles are currently held by the same individual, which the board believes ensures consistent leadership[124] - The company has established three committees under the board: Audit Committee, Remuneration Committee, and Nomination Committee[125] - The board will continue to review the separation of the chairman and CEO roles as appropriate[124] - The board held five meetings during the year, with all directors attending an average of 5 out of 5 meetings[119]
中安控股集团(08462) - 2019 - 年度财报