Financial Performance - For the fiscal year 2024, Republic Healthcare Limited reported revenue of approximately SGD 8.7 million, a decrease of about 13% from SGD 10.0 million in fiscal year 2023[12]. - The company recorded a loss of approximately SGD 0.20 million for the fiscal year 2024, compared to a loss of SGD 0.86 million in fiscal year 2023[12]. - The group's total revenue for the fiscal year 2024 was approximately SGD 8.7 million, a decrease of about SGD 1.3 million or 13% compared to SGD 10.0 million in fiscal year 2023[22]. - The total comprehensive loss for the year was approximately SGD 201,000, a decrease from SGD 862,000 in the fiscal year 2023[38]. - The net cash from operating activities was approximately SGD 0.1 million, compared to a net cash outflow of SGD 0.9 million in the fiscal year 2023[45]. - The group had cash and bank balances of approximately SGD 11.4 million as of December 31, 2024, down from SGD 11.9 million in the fiscal year 2023[45]. - The capital debt ratio at year-end was approximately 6%, a decrease from 7.6% in the fiscal year 2023[45]. - The employee costs for the year were approximately SGD 4.2 million, down from SGD 4.4 million in the fiscal year 2023[53]. - The group recorded a tax credit of approximately SGD 5,391 for the current year, compared to a tax expense of SGD 26,888 in fiscal year 2023[36]. - The company reported no dividend payment for the current fiscal year, consistent with the previous year[96]. Revenue Sources - Revenue from consultation services, medical examination services, and treatment services were approximately SGD 1,235,226 (14.2%), SGD 2,096,982 (24.2%), and SGD 5,324,389 (61.5%) respectively, contributing to the total revenue[24]. - The decrease in revenue was primarily due to increased competition in the primary healthcare sector and rising costs in core areas such as sexual health, men's health, and women's health[12]. Operational Challenges - Due to intense competition in the e-commerce market, the online healthcare business faced challenges, leading the company to pause its online expansion to refine strategies and improve backend systems[12]. - The group anticipates ongoing pressure from global economic uncertainty leading to increased operating costs and intensified competition from online healthcare service providers[19]. - Geopolitical tensions and ongoing inflation pressures are expected to increase operational costs for the company[14]. - The group expects to face challenges from both intensified competition in primary healthcare and overall economic pressures affecting profitability and inflation-related cost increases[23]. Strategic Initiatives - The company aims to enhance efficiency, optimize costs, and solidify its market position to drive sustainable growth despite industry challenges[13]. - The company made progress in expanding its education business, successfully establishing a presence in the Philippines, with plans to launch operations in the third quarter of 2025[12]. - The group aims to focus on cost optimization, operational efficiency, and strategic growth measures to navigate challenges and promote long-term sustainable development[21]. Employee and Staffing - The number of employees (including part-time staff) decreased from 37 in fiscal year 2023 to 34 in fiscal year 2024[30]. - Employee benefit expenses slightly decreased to approximately SGD 4.2 million in the current year[29]. - The company is actively monitoring labor market changes to adjust compensation plans for retaining talented employees[66]. Corporate Governance - The company is committed to maintaining high standards of corporate governance and regularly reviews its practices[152]. - The board consists of more than 50% independent non-executive directors, ensuring a balanced composition for effective independent judgment[179]. - The company has established three board committees: the audit committee, nomination committee, and remuneration committee, to oversee specific aspects of the company's affairs[192]. - The audit committee includes three independent non-executive directors, with Mr. Yang serving as the chairman, ensuring independence and objectivity in financial reporting[194]. - The board of directors confirmed compliance with the GEM listing rules regarding securities trading standards[107]. Shareholder Information - As of December 31, 2024, Dr. Chen holds 350,000,000 shares, representing 56.09% of the company's issued shares of 624,000,000[140]. - Cher Sen Holdings Limited, wholly owned by Dr. Chen, holds the same number of shares, indicating a significant ownership concentration[141]. - The company confirms compliance with GEM listing rules, maintaining a public float of at least 25% of its issued shares[154]. Future Outlook - The company remains optimistic about the continued growth and reputation of the healthcare industry in Singapore despite increasing competition[14]. - The company has allocated SGD 222,000 for the establishment of a new healthcare-related education business, with ongoing efforts in this area[72]. - The remaining unutilized proceeds are expected to be used for operational funding, with a focus on adapting to changing market conditions[67][69].
REPUBLIC HC(08357) - 2024 - 年度业绩