Financial Performance - Total revenue for the year ended December 31, 2024, was SGD 15,889,279, an increase of 13.4% from SGD 14,008,147 in 2023[5] - Gross profit decreased to SGD 3,783,876, down 27.4% from SGD 5,211,622 in the previous year[5] - The net loss attributable to owners for the year was SGD 901,630, a significant improvement compared to a loss of SGD 2,280,454 in 2023[5] - The company reported a basic and diluted loss per share of SGD 0.381, improved from SGD 0.963 in 2023[5] - The company incurred a loss of approximately SGD 902,000 for the year ended December 31, 2024, compared to a loss of SGD 2,280,000 in 2023[36] - Gross profit for the year ended December 31, 2024, was approximately SGD 3,784,000, with a gross margin of about 23.8%, down from 37.2% in 2023[36] - Sales and administrative expenses increased by approximately SGD 625,000 or 17.7% to SGD 4,154,000 in 2024, primarily due to increased advertising and other expenses[36] - The pre-tax loss for the year ended December 31, 2024, was approximately SGD 706,000, a decrease from SGD 1,960,000 in the previous year, primarily due to the reduction in expected credit loss provisions[38] Assets and Liabilities - Total assets as of December 31, 2024, were SGD 17,707,583, a decrease from SGD 18,434,829 in 2023[6] - Current liabilities totaled SGD 6,685,192, slightly down from SGD 6,745,354 in the previous year[6] - The company’s equity totalled SGD 10,220,869, down from SGD 10,920,150 in the previous year[7] - Total liabilities were reported at SGD 7,486,714, including bank loans of SGD 1,603,224[26] - The total interest-bearing borrowings as of December 31, 2024, were approximately SGD 2,514,000, down from SGD 2,804,000 in 2023, with a debt-to-asset ratio of approximately 14.2%[39] Cash and Liquidity - Cash and bank balances increased to SGD 4,505,235 from SGD 4,292,329 in 2023, indicating improved liquidity[6] - The group's cash and bank balances increased by approximately SGD 213,000 to SGD 4,505,000 as of December 31, 2024, compared to SGD 4,292,000 in 2023, driven by net cash from operating activities of approximately SGD 1,684,000[40] - Interest expenses on bank loans decreased to SGD 83,641 in 2024 from SGD 110,353 in 2023[28] Revenue Segmentation - The signage business generated revenue of SGD 11,834,906, while renovation and refurbishment services contributed SGD 4,054,373[26] - Major customer A in the signage business contributed SGD 2,092,881 in revenue for 2024, down from SGD 2,484,095 in 2023[23] - Major customer B in the renovation and refurbishment services did not contribute over 10% of total revenue in 2024[23] - Revenue from Singapore was SGD 11,834,906, while revenue from China increased significantly to SGD 4,054,373 from SGD 2,368,749 in 2023, marking a growth of approximately 70.9%[25] - Revenue from sales of signage and advertising in the public and private sectors in Singapore was approximately SGD 11,835,000 for the year ended December 31, 2024, compared to SGD 11,639,000 in 2023, reflecting stable demand in the construction sector[41] - The group reported an increase in revenue from renovation and refurbishment services for commercial and residential projects, amounting to approximately SGD 4,054,000 in 2024, up from SGD 2,369,000 in 2023, indicating a growth of approximately SGD 1,685,000[41] Accounting and Governance - The company has not applied any new accounting standards that are effective from January 1, 2024, indicating a stable accounting policy environment[11] - The group is currently evaluating the impact of the new International Financial Reporting Standards on its financial statements[14] - The introduction of IFRS 18 will significantly change the presentation of financial performance in the income statement, enhancing comparability and transparency[13] - The board believes that good corporate governance is a key element in managing the group's business and affairs, and it has complied with the corporate governance code during the year[55] - The audit committee has reviewed the group's annual performance for the year ended December 31, 2024[60] Future Outlook and Strategy - The group has no significant investments or acquisitions planned for the future as of December 31, 2024, indicating a cautious approach to capital allocation[43] - The group anticipates stable demand in Singapore's construction sector but faces challenges in China due to adverse economic conditions and rising material costs, leading to a strategic focus on Singapore operations[48] Employee and Dividend Information - The total employee costs for the year ended December 31, 2024, were approximately SGD 4,084,000, a decrease from SGD 4,319,000 in 2023, reflecting a reduction in workforce[46] - No dividends were declared or proposed for the year ended December 31, 2024, consistent with the previous year[47] Shareholding and Securities - As of December 31, 2024, Absolute Truth Investments Limited holds 39,337,600 shares, representing 16.61% of the company's issued share capital[52] - The company did not purchase, sell, or redeem any of its listed securities during the year ended December 31, 2024[54] Events After Reporting Period - There were no significant events after the reporting period up to the date of this announcement[58]
吉辉控股(08027) - 2024 - 年度业绩