Financial Performance - The total revenue for the fiscal year ending December 31, 2024, was HKD 11,020,000, a decrease of 6.5% compared to HKD 11,792,000 in the previous year[4] - The gross profit for the fiscal year was HKD 2,451,000, down 34.6% from HKD 3,755,000 in the previous year[4] - The net loss for the year was HKD 124,000, compared to a profit of HKD 347,000 in the previous year, indicating a significant decline[4] - The company reported a basic loss per share of HKD (0.02), compared to a profit of HKD 0.05 per share in the previous year[4] - The total comprehensive loss for the year was HKD (168,000), compared to a comprehensive income of HKD 326,000 in the previous year[4] - The group reported consulting service revenue of 10,109 thousand New Taiwan Dollars for the year 2024, compared to 10,653 thousand New Taiwan Dollars in 2023, indicating a decrease of approximately 5.1%[15] - Other service revenue for the group was 1,683 thousand New Taiwan Dollars in 2024, significantly up from 367 thousand New Taiwan Dollars in 2023, reflecting a substantial increase of approximately 358.6%[15] - Total revenue for the group in 2024 reached 11,792 thousand New Taiwan Dollars, compared to 11,020 thousand New Taiwan Dollars in 2023, marking an increase of about 7%[15] - For the fiscal year ending December 31, 2024, the company reported a pre-tax profit of 347,000 thousand NTD, compared to a loss of 124,000 thousand NTD in the previous year[24] - The group’s total expenses were NT$617,000 for 2024, slightly down from NT$618,000 in 2023, indicating a marginal decrease of 0.2%[27] Assets and Liabilities - Total assets as of December 31, 2024, amounted to 5,092 thousand SGD, an increase from 4,453 thousand SGD in 2023, representing a growth of approximately 14.4%[5] - Current liabilities increased to 1,284 thousand SGD in 2024 from 1,423 thousand SGD in 2023, indicating a decrease of about 9.8%[5] - The net asset value of the company rose to 4,047 thousand SGD in 2024, compared to 3,721 thousand SGD in 2023, reflecting an increase of approximately 8.8%[5] - The company’s total liabilities decreased to 1,284 thousand SGD in 2024 from 1,423 thousand SGD in 2023, a reduction of about 9.8%[5] - The group reported total liabilities of NT$1,078,000 for 2024 compared to NT$924,000 for 2023, representing an increase of 16.7%[27] Income and Expenses - Administrative expenses amounted to HKD 3,315,000, a decrease of 4.9% compared to HKD 3,487,000 in the previous year[4] - Other income and gains for the year were HKD 683,000, an increase from HKD 389,000 in the previous year[4] - The company recognized a provision for expected credit losses of HKD 128,000, compared to a reversal of HKD (263,000) in the previous year[4] - Employee costs, including director remuneration, increased from 8,649,000 thousand NTD in 2023 to 8,993,000 thousand NTD in 2024, reflecting a growth of approximately 4%[6] - The company's service costs rose from 7,511,000 thousand NTD in 2023 to 8,006,000 thousand NTD in 2024, indicating an increase of about 6.6%[6] - Research and development expenses increased from 469,000 thousand NTD in 2023 to 540,000 thousand NTD in 2024, marking an increase of approximately 15.2%[6] - Administrative expenses decreased from 2,115,000 thousand NTD in 2023 to 1,953,000 thousand NTD in 2024, showing a reduction of about 7.7%[6] Future Projections - The group’s revenue for the fiscal year ending December 31, 2024, is projected to be approximately 11,800,000 SGD, an increase of about 800,000 SGD or 7.3% from the previous year[40] - Service costs are expected to decrease to approximately 8,000,000 SGD for the fiscal year ending December 31, 2024, a reduction of about 600,000 SGD or 7.0%[41] - Gross profit is anticipated to rise to approximately 3,800,000 SGD for the fiscal year ending December 31, 2024, an increase of about 1,300,000 SGD or 52.0%[42] - Other income is projected to decrease to approximately 389,000 SGD for the fiscal year ending December 31, 2024, a reduction of about 294,000 SGD or 43.0%[43] - Administrative expenses are expected to increase to approximately 3,500,000 SGD for the fiscal year ending December 31, 2024, an increase of about 200,000 SGD or 6.1%[44] - The group is expected to report a profit of approximately 300,000 SGD for the fiscal year ending December 31, 2024, compared to a loss of about 100,000 SGD in the previous year[46] Corporate Governance and Operations - The company has maintained high standards of corporate governance, believing it is essential for protecting shareholder interests and enhancing corporate value[61] - The board believes that the current arrangement of having the same individual serve as both Chairman and CEO is appropriate for effective management and business development[62] - The audit committee has reviewed the group's financial statements for the year ending December 31, 2024, and believes they comply with applicable accounting standards and regulations[66] - The company has been operating in the civil and structural engineering market in Singapore for over 18 years and has expanded its services to Vietnam since 2009[33] - The group has expanded its operations in Singapore and Vietnam, with expected full utilization of allocated funds by December 31, 2025[56] - The company is continuously enhancing its information technology by purchasing more software licenses to improve efficiency and meet regulatory requirements[60] Shareholder Information - The company did not declare or recommend any dividends for the fiscal year ending December 31, 2024, consistent with the previous year[23] - The board has resolved not to declare any dividends for the fiscal year ending December 31, 2024[50] - The company will suspend share registration from June 10, 2025, to June 13, 2025, to determine eligible shareholders for the annual general meeting[68] - The annual performance announcement will be published on the Hong Kong Stock Exchange website and the company's website, with the annual report for the year ending December 31, 2024, to be sent to shareholders in due course[69] - The board expresses gratitude to shareholders, business partners, and employees for their continuous support and efforts[70]
WMCH Global(08208) - 2024 - 年度业绩