Financial Performance - For the fiscal year ending December 31, 2024, the revenue was approximately MYR 97.0 million, an increase of about 3.4% from the previous year's MYR 93.8 million[3]. - The gross profit for the same period was approximately MYR 24.3 million, reflecting a growth of about 6.2% compared to MYR 22.9 million in the prior year[3]. - The loss attributable to equity holders of the company was approximately MYR 21.4 million, an increase of about MYR 17.2 million from the previous year's loss of MYR 4.2 million[3]. - The basic loss per share attributable to equity holders was approximately MYR 0.75, an increase of MYR 0.57 from the previous year's loss of MYR 0.18[3]. - The company reported a total comprehensive loss of MYR 23.0 million for the year, compared to a loss of MYR 2.0 million in the previous year[5]. - The company reported a net loss attributable to shareholders of RM 21,430,000 for 2024, compared to a loss of RM 4,249,000 in 2023[26]. - The total loss for the year ending December 31, 2024, was approximately 21.1 million MYR, compared to a loss of approximately 3.4 million MYR in 2023, primarily attributed to goodwill impairment losses[57]. Assets and Liabilities - The total assets as of December 31, 2024, amounted to MYR 311.7 million, compared to MYR 103.6 million in 2023[7]. - Non-current assets increased to MYR 224.7 million from MYR 34.7 million in the previous year, primarily due to the addition of goodwill[7]. - The total liabilities decreased to MYR 16.5 million from MYR 17.8 million in the previous year[8]. - The company's equity attributable to equity holders increased to MYR 290.5 million from MYR 81.2 million in the previous year[8]. - The total non-current assets as of December 31, 2024, amounted to RM 224,155,000, a substantial increase from RM 34,007,000 in 2023[14]. - The total loans and borrowings of the company as of December 31, 2024, amount to approximately RM 4.3 million, a decrease of about RM 2.6 million or 37.8% compared to December 31, 2023[67]. Revenue Breakdown - Revenue from Malaysia decreased to RM 71,603,000 in 2024 from RM 76,727,000 in 2023, representing a decline of 6.9%[14]. - Revenue from China significantly increased to RM 22,989,000 in 2024, up from RM 14,524,000 in 2023, marking a growth of 58.5%[14]. - Revenue from outsourcing document management services accounted for approximately 69.4% of total revenue in 2024, down from 78.6% in 2023, with a decrease of about 6.4 million MYR or 8.6%[44]. - Revenue from outsourcing insurance risk analysis and marketing services increased to approximately 17.3 million MYR in 2024, representing about 17.9% of total revenue, up from 14.3% in 2023[45]. - Revenue from enterprise software solutions grew by approximately 20.2% to about 6.7 million MYR in 2024, accounting for approximately 6.9% of total revenue[46]. - Revenue from medical equipment and pharmaceutical product distribution and sales accounted for approximately 3.7% of total revenue for the year ending December 31, 2024, amounting to approximately 3.6 million MYR, compared to 1.2 million MYR or 1.2% in 2023[47]. - Revenue from internet hospital and physical outpatient services generated approximately 2.1 million MYR, representing about 2.1% of total revenue for the year ending December 31, 2024, with no revenue reported in 2023[48]. Operational Highlights - The company has successfully developed proprietary enterprise software applications focused on information technology, driving digital transformation for large corporations in Malaysia[34]. - The demand for software-as-a-service (SaaS) solutions in Malaysia has increased, leading to higher adoption of the Streamline Suite enterprise software solutions[34]. - The company plans to upgrade its IT infrastructure and expand a new data center in Malaysia, expected to be operational by the end of 2025, enhancing its document hosting capabilities[35]. - The acquisition of Shengji Investment Co., Ltd. on January 26, 2024, allows the company to diversify into internet hospital services and physical outpatient services, leveraging existing infrastructure and expertise[36]. - The company aims to minimize the impact of challenges such as a strong US dollar and inflation by reducing costs and enhancing innovation in its Streamline Suite solutions[35]. - The company is focused on expanding its influence in the banking and insurance sectors in Malaysia and Singapore through continuous development of its proprietary software[34]. - The combination of virtual and physical healthcare services ensures comprehensive care for patients, addressing the broad healthcare needs in China[36]. Cost and Expenses - Cost of sales increased by approximately 1.8 million MYR or 2.5% to approximately 72.7 million MYR for the year ending December 31, 2024, from approximately 70.9 million MYR in 2023[49]. - Administrative expenses increased by approximately 18.2 million MYR or 72.7% to approximately 43.2 million MYR for the year ending December 31, 2024, primarily due to goodwill impairment losses of approximately 23.3 million MYR[53]. - The pre-tax loss for the year ending December 31, 2024, was approximately 18.5 million MYR, compared to a pre-tax loss of approximately 1.5 million MYR in 2023, mainly due to goodwill impairment losses[55]. Goodwill and Impairment - Goodwill recognized from the acquisition of the Shengji Group was approximately 215.2 million MYR, with a subsequent impairment loss of approximately 23.3 million MYR assessed as of December 31, 2024[60]. - The company reported a goodwill impairment loss of approximately RM 23.323 million related to the cash-generating unit as of December 31, 2024[65]. Shareholder Information - The company did not declare a final dividend for the year ended December 31, 2024, consistent with no dividend declared in 2023[28]. - The company has not conducted any significant investments or acquisitions other than those disclosed as of December 31, 2024[75]. - The company has not purchased, sold, or redeemed any of its listed securities during the year ending December 31, 2024[78]. - The company will issue its annual report for the year ending December 31, 2024, in accordance with listing rules[95]. Governance and Compliance - The audit committee, composed of three independent non-executive directors, has reviewed the financial statements for the year ending December 31, 2024, and confirmed compliance with relevant accounting standards[91]. - The company has adopted the corporate governance code and confirmed compliance with all applicable provisions, except for the separation of the roles of chairman and CEO[89]. - The company has not identified any violations of the trading code by employees with insider information during the year ending December 31, 2024[88].
C-Link SQ(01463) - 2024 - 年度业绩