Financial Performance - For the fiscal year ending December 31, 2024, the group reported revenue of approximately SGD 25,808,000, an increase of about SGD 2,345,000 or 10.0% compared to the fiscal year ending December 31, 2023[7]. - The company recorded a total comprehensive loss attributable to owners of approximately SGD 182,000 for the fiscal year ending December 31, 2024, significantly improved from a loss of approximately SGD 5,067,000 for the fiscal year ending December 31, 2023[7]. - Gross profit increased by approximately SGD 1,502,000, while administrative expenses decreased by approximately SGD 3,332,000 compared to the previous fiscal year[7]. - The company reported a gross profit of SGD 2,745,041 for the fiscal year ending December 31, 2024, compared to SGD 1,242,633 for the previous year[8]. - The company experienced a significant reduction in pre-tax loss, reporting SGD 411,626 for the fiscal year ending December 31, 2024, compared to SGD 5,105,708 for the previous year[8]. - Basic and diluted loss per share improved to SGD (0.0025) for the fiscal year ending December 31, 2024, from SGD (0.0343) in the previous year[8]. - The company recorded a pre-tax loss of SGD 411,626 for the year ending December 31, 2024, compared to a pre-tax loss of SGD 5,105,708 in 2023, indicating an improvement in financial performance[20]. - The company recorded a loss of approximately SGD 412,000 for the year ending December 31, 2024, a reduction of approximately SGD 4,702,000 compared to a loss of approximately SGD 5,114,000 for the year ending December 31, 2023[60]. Revenue Breakdown - Total revenue for the year ending December 31, 2024, reached SGD 25,807,716, an increase from SGD 23,463,313 in 2023, representing a growth of approximately 10%[20]. - Revenue from vehicle transportation services for 2024 reached SGD 24,571,081, an increase from SGD 21,336,737 in 2023, representing a growth of approximately 15.5%[27]. - Revenue from truck transportation services increased by approximately SGD 3,235,000 to approximately SGD 24,571,000, representing a growth of 15.2% due to increased trade volume[51]. - Revenue from consolidation services decreased by 41.8% or approximately SGD 890,000, primarily due to delays in shipping and the need for storage space for containers[52]. - The revenue from Singapore increased to SGD 21,262,524 in 2024 from SGD 20,354,538 in 2023, marking a growth of about 4%[23]. Expenses and Costs - Administrative expenses were reduced to SGD 2,965,407 for the fiscal year ending December 31, 2024, down from SGD 6,297,171 in the previous year[8]. - The total employee cost for the year ended December 31, 2024, was approximately SGD 6,567,000, compared to SGD 6,852,000 in 2023[69]. - The total financing costs for 2024 amounted to SGD 64,939, up from SGD 49,861 in 2023, marking an increase of around 30.3%[32]. - Other income for 2024 totaled SGD 73,275, a decrease from SGD 175,359 in 2023, indicating a decline of about 58%[31]. - Interest income decreased to SGD 11,121 in 2024 from SGD 12,392 in 2023, reflecting a reduction of approximately 10.3%[31]. Assets and Liabilities - Total non-current assets decreased from SGD 8,389,029 in 2023 to SGD 7,358,649 in 2024, a decline of approximately 12.3%[9]. - Current assets increased from SGD 9,198,676 in 2023 to SGD 9,506,212 in 2024, representing a growth of about 3.3%[9]. - Total current liabilities decreased from SGD 2,928,772 in 2023 to SGD 2,446,712 in 2024, a reduction of approximately 16.4%[9]. - Total liabilities decreased from SGD 14,123,158 in 2023 to SGD 13,941,171 in 2024, indicating a decrease of about 1.3%[9]. - The company reported a total asset value of SGD 16,864,861 for 2024, compared to SGD 17,587,705 in 2023, indicating a decrease of about 4%[20]. - The group's current ratio improved to approximately 3.9 times as of December 31, 2024, compared to 3.1 times in 2023[61]. - The total amount of trade payables was SGD 901,139 in 2024, down from SGD 962,236 in 2023, reflecting a decrease of about 6.4%[42]. Cash Flow and Financing - Cash and cash equivalents decreased significantly from SGD 1,664,561 in 2023 to SGD 623,969 in 2024, a drop of approximately 62.6%[9]. - The company's cash and bank balances stood at SGD 623,969 for 2024, a decrease from SGD 1,664,561 in 2023, indicating a decline of approximately 63%[20]. - Bank borrowings decreased from SGD 300,000 in 2023 to SGD 57,324 in 2024, a significant reduction of approximately 80.9%[9]. - The group's bank loans had an effective annual interest rate of 4.38% for both 2024 and 2023[44]. - The group’s financing costs included SGD 12,047 in bank loan interest for 2024, which is an increase from SGD 7,612 in 2023, reflecting a rise of about 58.5%[32]. Corporate Governance and Compliance - The company has complied with all corporate governance codes, except for the separation of the roles of chairman and CEO, which is under review[83][84]. - The audit committee has been established in compliance with GEM listing rules and is responsible for reviewing the financial reporting process and internal control systems[89]. - The financial data presented does not constitute a draft of the consolidated financial statements for the fiscal year but is an excerpt approved by the audit committee and board of directors[90]. - The auditor, Long Qing (Hong Kong) CPA Limited, agrees that the financial data aligns with the consolidated financial statements for the year ending December 31, 2024[91]. Future Outlook and Strategy - The company aims to continue improving its financial performance and operational efficiency in the upcoming fiscal year[7]. - The company plans to continue expanding its market presence and investing in new technologies to enhance service offerings and operational efficiency[20]. - The group aims to maintain growth within the industry and strengthen overall competitiveness while expanding market share in Singapore[73]. - The company plans to enhance service capabilities by purchasing new vehicles and expanding its workforce to meet business growth demands[73]. Other Information - The board of directors does not recommend the payment of any dividends for the fiscal years ending December 31, 2024, and 2023[7]. - The group did not incur any income tax expenses for the years ended December 31, 2024, and 2023, due to sufficient tax losses carried forward[34]. - The group did not have any significant investments or acquisitions as of December 31, 2024[64][65][66]. - There are no significant events to disclose after the reporting period[86]. - The group continues to monitor global trade economics and engage with customers to understand current situations and needs[72].
春能控股(08430) - 2024 - 年度业绩