Financial Performance - For the fiscal year ended December 31, 2018, the group recorded total revenue of approximately SGD 25.4 million, consistent with the previous fiscal year[9]. - The group reported a net loss of approximately SGD 0.4 million for the fiscal year ended December 31, 2018, an improvement from a net loss of approximately SGD 1.1 million for the fiscal year ended December 31, 2017[9]. - The group's revenue decreased from approximately SGD 27.6 million for the year ended December 31, 2017, to approximately SGD 25.4 million for the year ended December 31, 2018, a decline of about SGD 2.2 million or approximately 7.9%[16]. - The group's overall gross profit decreased from approximately SGD 7.4 million to approximately SGD 5.7 million, a reduction of about SGD 1.7 million or approximately 23.0%[18]. - The company reported a loss before tax of SGD 152,000, an improvement from a loss of SGD 675,000 in 2017[186]. - Total comprehensive loss for the year was SGD 402,000, compared to a loss of SGD 1,076,000 in 2017, indicating a reduction in losses[186]. - Basic loss per share for the year was SGD 0.06, an improvement from SGD 0.21 in the previous year[186]. - The group recorded a total comprehensive loss of approximately SGD 0.4 million for the year ended December 31, 2018, a decrease of about SGD 0.7 million or approximately 62.6% from the previous year[25]. Expenses and Costs - The decrease in gross profit of approximately SGD 1.7 million was primarily due to reduced sales influenced by intense market competition[9]. - Administrative and other operating expenses (excluding listing expenses) increased by approximately SGD 0.6 million compared to the fiscal year ended December 31, 2017[9]. - The group's administrative and other operating expenses decreased from approximately SGD 5.8 million to approximately SGD 3.9 million, a reduction of about SGD 1.9 million or approximately 32.6%[20]. - Financing costs increased from approximately SGD 194,000 to approximately SGD 276,000, an increase of about SGD 82,000 or approximately 42.3%[21]. - Administrative and other operating expenses decreased to SGD 3,877,000 from SGD 5,752,000, reflecting a cost reduction strategy[186]. Assets and Liabilities - The group's total borrowings increased to approximately SGD 11.1 million as of December 31, 2018, compared to SGD 3.6 million as of December 31, 2017, resulting in a capital debt ratio of approximately 63.4%[28]. - Total assets decreased from 21,480,000 SGD in 2017 to 28,232,000 SGD in 2018, reflecting a significant increase of 31.5%[188]. - Non-current liabilities rose sharply from 3,477,000 SGD in 2017 to 10,663,000 SGD in 2018, marking an increase of 206.5%[190]. - The company’s total liabilities increased from 3,477,000 SGD in 2017 to 10,663,000 SGD in 2018, reflecting a rise of 206.5%[190]. - Total equity decreased from 18,003,000 SGD in 2017 to 17,569,000 SGD in 2018, a decline of 2.4%[190]. Management and Governance - The management emphasizes maintaining good corporate governance and effective cost control to maximize returns for shareholders[10]. - The company maintains a high level of corporate governance, with details provided in the corporate governance report[90]. - The board of directors held 7 meetings in 2018, with all executive directors attending all meetings[117]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the year ending December 31, 2018, ensuring compliance with applicable accounting standards and GEM listing rules[120]. - The company has adopted the corporate governance code and has complied with all applicable provisions as of December 31, 2018[107]. Risk Management - The company is exposed to financial risks related to foreign currency, interest rates, credit, and liquidity in its daily operations[97]. - The company faces business risks related to the retention of major customers, which could adversely affect its operational performance if orders significantly decrease[95]. - The board is responsible for overseeing the risk management and internal control systems, while management is tasked with implementing and maintaining these systems[135]. - The company has established a three-tier risk management approach to identify, assess, and manage various types of risks[137]. Strategic Initiatives - The group aims to expand its customer base and cultivate new customers to achieve long-term growth[10]. - The group plans to continue promoting its brand and providing quality products while seizing business opportunities through warehouse and production facility expansions via acquisitions[14]. - The company is focused on maintaining and improving profit margins while seeking to launch new products and services[151]. - The company has been focusing on enhancing its market presence through effective marketing strategies and operational management[161]. Shareholder Relations - The company maintains a communication platform for shareholders through its website and annual general meetings[146]. - Shareholders have the right to propose independent resolutions for consideration and voting at general meetings, ensuring their interests are protected[142]. - The company has a structured process for shareholders to propose director nominations at the annual general meeting[148]. Compliance and Reporting - The company has maintained compliance with the disclosure requirements under the Hong Kong Companies Ordinance[169]. - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2018, in accordance with Hong Kong Financial Reporting Standards[169]. - The company has confirmed that there were no related party transactions that required disclosure under GEM Listing Rules during the year ended December 31, 2018[89].
COOL LINK(08491) - 2018 - 年度财报