Financial Performance - The company's revenue for the year ended December 31, 2024, was SGD 99,043,000, representing a 7.1% increase from SGD 92,490,000 in 2023[4] - Gross profit decreased by 10.0% to SGD 6,302,000 from SGD 7,001,000 in the previous year[4] - EBITDA for 2024 was SGD 2,991,000, down 22.7% from SGD 3,871,000 in 2023[4] - The company reported a net loss of SGD 3,647,000 for 2024, compared to a loss of SGD 926,000 in 2023[4] - Basic and diluted loss per share for the year was SGD 0.68, compared to SGD 0.28 in 2023[6] - Total comprehensive income for the year was a loss of SGD 3,100,000, improving from a loss of SGD 9,499,000 in 2023[6] - The company reported a net loss attributable to owners of SGD 6,280,000 for 2024, compared to a loss of SGD 2,559,000 in 2023, indicating a worsening financial position[32] - The group recorded a pre-tax loss of approximately SGD 2.8 million for the year ending December 31, 2024, compared to a pre-tax loss of about SGD 1.0 million for the year ended December 31, 2023[63] - The group's net loss after tax was approximately SGD 3.6 million for the year ending December 31, 2024, compared to a net loss of about SGD 0.9 million for the year ended December 31, 2023[65] Revenue Breakdown - Total revenue for the year ended December 31, 2024, was SGD 99,043,000, an increase of 7.9% from SGD 92,490,000 in 2023[15] - Electronic Manufacturing Services contributed SGD 93,141,000, accounting for 94.0% of total revenue, up from 85.4% in 2023[15] - The Original Design Manufacturing segment saw a decline in revenue to SGD 4,112,000, down from SGD 11,223,000, representing a decrease of 63.3%[15] - Investment revenue decreased to SGD 1,790,000 from SGD 2,314,000, a decline of 22.6%[15] - Revenue from Singapore was SGD 53,802,000, making up 54.3% of total revenue, while revenue from the USA increased significantly to SGD 17,380,000, up 59.0% from 2023[20] Assets and Liabilities - Non-current assets totaled SGD 72,505,000, a decrease from SGD 74,805,000 in the previous year[7] - Current assets increased slightly to SGD 85,106,000 from SGD 84,568,000 in 2023[7] - The company's total equity decreased to SGD 102,532,000 from SGD 109,555,000 in 2023[8] - The company's cash and cash equivalents amounted to 17,684 thousand Singapore dollars as of December 31, 2024, down from 18,141 thousand Singapore dollars in 2023[40] - Trade receivables increased to 19,463 thousand Singapore dollars in 2024 from 17,427 thousand Singapore dollars in 2023, with overdue but not impaired receivables rising in the 0 to 30 days category[38] - Total inventory as of December 31, 2024, was 45,407 thousand Singapore dollars, a decrease from 46,079 thousand Singapore dollars in 2023[37] - The company reported a decrease in trade payables to 16,885 thousand Singapore dollars in 2024 from 18,055 thousand Singapore dollars in 2023[41] - The company’s lease liabilities decreased to 3,637 thousand Singapore dollars in 2024 from 4,881 thousand Singapore dollars in 2023[43] Operational Insights - The company operates in contract manufacturing, design, engineering, and assembly for the electronics industry, with subsidiaries in Singapore, China, the Philippines, Japan, and Malaysia[10] - The company is focusing on business growth amid geopolitical changes affecting the semiconductor industry, which may drive new manufacturing demands[45] - The electronic manufacturing services segment reported a total revenue increase of approximately 18.0% year-on-year, primarily due to an increase in orders for equipment front-end modules (EFEM) from customers[47] - The original design manufacturing segment experienced a significant revenue decline of approximately 63.4% year-on-year, attributed to an oversupply in the semiconductor assembly and testing industry and a lack of new equipment for integrated circuit packaging[49] - The investment segment's management fee revenue decreased by approximately 22.6% year-on-year, mainly due to the expiration of funds managed by Shanghai Guangpu and difficulties in establishing new funds[50] Expenses and Investments - Research and development expenses were SGD 2,157,000, a decrease of 19.7% from SGD 2,688,000 in 2023[28] - The company acquired property, plant, and equipment for approximately SGD 2,776,000 in 2024, down from SGD 4,337,000 in 2023[33] - Sales and marketing expenses rose by approximately 21.8% year-on-year to about SGD 3.2 million, mainly due to increased sales commissions[58] - General and administrative expenses decreased by approximately 8.4% year-on-year to about SGD 13.1 million, primarily due to reduced R&D costs[59] - Other income increased significantly to SGD 8,873,000 in 2024 from SGD 807,000 in 2023, primarily due to new investment income[22] Future Outlook and Governance - The company is optimistic about future financial performance due to expanded capabilities in constructing semiconductor front-end equipment and increased marketing efforts[52] - The company is actively seeking acquisitions to obtain new advanced packaging product lines to revitalize the original design manufacturing segment[49] - The board does not recommend the payment of a final dividend for the year ended December 31, 2024[86] - The group has no off-balance-sheet transactions as of the announcement date[84] - The company has complied with all provisions of the corporate governance code for the year ended December 31, 2024[88] - The auditor confirmed that the figures in the annual performance announcement are consistent with the draft consolidated financial statements for the year ended December 31, 2024[92] Employee and Corporate Structure - The group employs 797 staff members, with employee benefit expenses totaling approximately SGD 29.6 million for the year ended December 31, 2024[83] - The company has not experienced any labor disputes during the year ended December 31, 2024[83] - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[99]
精技集团(03302) - 2024 - 年度业绩