Financial Performance - For the year ended June 30, 2024, the Group reported revenue of approximately S$18.4 million and a gross profit of approximately S$8.8 million, resulting in a loss before taxation of approximately S$12.5 million[6]. - The Group's revenue for the Review Year was approximately S$18.4 million, representing an increase of approximately S$5.0 million, or 37.1%, compared to approximately S$13.4 million for the year ended 30 June 2023[15]. - The Group's gross profit was approximately S$8.8 million for the Review Year, with a gross profit margin of approximately 47.9%, compared to 33.3% in 2023[35]. - The Group recorded a loss of approximately S$12.6 million for the Review Year, compared to a loss of approximately S$14.5 million for the year ended 30 June 2023[42]. - Total shareholders' funds amounted to approximately S$26.8 million as at 30 June 2024, compared to approximately S$30.1 million as at 30 June 2023[43]. - The Group's current assets were approximately S$49.9 million, up from S$27.5 million in 2023, while current liabilities increased to S$30.1 million from S$4.6 million, resulting in a current ratio of 1.7 compared to 6.0 in 2023[48][50]. - The Group's gearing ratio was 1.2% as of June 30, 2024, down from 1.9% in 2023, indicating a stable financial position[48][50]. - Cash and cash equivalents as of June 30, 2024, were approximately S$15.7 million, a decrease from S$19.2 million in 2023[48][51]. - The total staff costs for the Review Year amounted to approximately S$20.6 million, an increase from approximately S$16.9 million in 2023, reflecting the hiring of additional employees[66]. - The Group's capital expenditure for the Review Year totaled approximately S$1.1 million, significantly higher than S$0.4 million in 2023[55][56]. Market Expansion and Strategy - The Group aims to expand its market position in the medical and healthcare construction sectors in Singapore and diversify into financial technology (FinTech) areas[7]. - The Group is committed to strengthening its risk management to mitigate potential market and operational risks[8]. - The development of the FinTech service platform and potential acquisitions are seen as exciting opportunities to diversify the Group's revenue sources[10]. - The Group aims to strengthen its market position in the medical and healthcare construction sectors and continue developing its FinTech Platform Business[21]. - The Group is involved in planning a new hospital in the east of Singapore to address the growing healthcare needs[18]. - The Ministry of Health of Singapore plans to expand its network of polyclinics from 26 to 32 by 2030, indicating growth opportunities in the healthcare sector[6]. - The Singapore government plans to expand its network of polyclinics from 26 to 32 by 2030, driving demand for medical-related radiation shielding works[16]. FinTech Development - A competent FinTech team has been established to develop trading systems, custody infrastructure, cybersecurity, market data analytics, compliance, anti-money laundering, and risk management[7]. - The Group has applied for relevant regulatory licenses related to virtual asset trading platform operations in Hong Kong to capture growth opportunities in the FinTech sector[7]. - The Group is developing a user-centric FinTech trading service platform to empower global users to explore various asset classes, including virtual and Web3 assets[17]. - The Group is optimistic about acquiring the Virtual Asset Trading Platform Operators Licence regulated by The Securities and Futures Commission through its subsidiary, Hong Kong BGE Limited[17]. - The market is increasingly seeking multi-asset classes of FinTech trading platforms to navigate investment complexities and achieve financial goals[21]. - The Company plans to allocate approximately 80% of the 2023 Placing Net Proceeds to finance the FinTech Platform Business[83]. - Approximately 90% of the net proceeds from the 2024 Placing will be allocated to finance the FinTech Platform Business, while about 10% will be used for general working capital[88]. Corporate Governance - The Company is committed to achieving high standards of corporate governance to safeguard the interests of its shareholders[128]. - The Company adopted all mandatory disclosure requirements and code provisions in the Corporate Governance Code as its own code on corporate governance practices[129]. - The Board will continue to review the application of good corporate governance principles and ensure compliance with the Corporate Governance Code[130]. - The Company has complied with the code provisions set out in the Corporate Governance Code during the review year[130]. - The Board strives to promote a desired culture and is committed to sustainability and accountability through effective corporate governance[131]. - The Company has established an Audit Committee to oversee risk management and internal control systems, comprising three independent non-executive Directors[178]. - The Audit Committee reviewed the compliance with corporate governance policies and the effectiveness of internal controls during the review year[180]. - The Company has implemented training and continuous professional development for Directors and senior management to uphold good corporate governance practices[179]. Leadership and Management - Mr. Koh Lee Huat has over 20 years of experience in the construction industry, specializing in radiation shielding works, and has been with the Group since 1996[96]. - Mr. Zhou Peng, appointed as an executive director on August 1, 2024, has 20 years of experience in global mergers and acquisitions and capital markets[99]. - Mr. Cheng Yiu Mo brings extensive experience in Hong Kong law enforcement and international anti-money laundering, contributing to compliance matters for the Group[101]. - The Group's management team includes professionals with backgrounds in finance, law, and engineering, enhancing its strategic capabilities[104]. - The Group's executive directors are involved in formulating corporate and business strategies and making major operational decisions[96]. - The Company is focused on compliance and regulatory matters, particularly in the engineering and fintech sectors[101]. Employee and Workforce - The Group employed a total of 149 full-time employees as of June 30, 2024, compared to 139 employees in the previous year[66]. - The total employee costs for the review year amounted to approximately SGD 20.6 million, compared to SGD 16.9 million in 2023, reflecting an increase of about 22%[68]. - The Group has a total workforce of 149 employees, with 114 males and 35 females, indicating a gender diversity ratio of approximately 76% male to 24% female[195]. - The Group aims to enhance gender diversity in its workforce and maintains a consistent policy of hiring and promoting both genders based on qualifications and experience[196]. Risk Management - The Group manages foreign exchange risk by closely monitoring currency movements, as it retains proceeds from listings and placements in Hong Kong dollars[60][61]. - The Company has implemented a risk management and internal control system to manage operational and financial risks, ensuring compliance with relevant rules and regulations[198]. - An external internal control reviewer is engaged annually to assess and improve the risk management and internal control system, focusing on material deficiencies[199]. - The management regularly reviews the risk management and internal control system to identify and manage significant risks, ensuring continuous improvements[200]. - Any material non-compliance or internal control failures are reported to the Audit Committee for further action and improvement recommendations[200].
HKE HOLDINGS(01726) - 2025 - 年度财报