Company Overview - Kinergy Corporation Ltd. operates in the semiconductor processing equipment industry, providing electronic manufacturing services and original design manufacturing[4]. - Kinergy has established production facilities in Singapore, China, the Philippines, and Malaysia, enhancing its manufacturing capabilities[4]. - The company collaborates with leading semiconductor equipment manufacturers to develop advanced manufacturing solutions[12]. - Kinergy's customer base primarily consists of semiconductor processing equipment manufacturers and wafer fabrication equipment manufacturers[8]. Electronic Manufacturing Services - The electronic manufacturing services segment focuses on low-volume, high-mix production, relying heavily on manual assembly processes[6]. - The electronic manufacturing services segment saw a revenue increase of approximately 18%, contributing significantly to the overall revenue growth[37]. - The electronic manufacturing services segment generated total revenue of 93.1 million Singapore dollars, reflecting an 18.0% increase year-on-year, primarily due to increased orders for front-end modules used in semiconductor front-end equipment[53][54]. Original Design Manufacturing - Kinergy's original design manufacturing segment includes precision tools and automation equipment, catering primarily to the semiconductor industry[14]. - The original design manufacturing segment experienced a significant decline, with revenue dropping by approximately 63.4% to 4.1 million Singapore dollars, attributed to an oversupply in the outsourced semiconductor assembly and testing industry[48][53]. Financial Performance - For the fiscal year ending December 31, 2024, the total revenue reached SGD 99.0 million, reflecting a 7% increase compared to SGD 92.5 million for the fiscal year ending December 31, 2023[37]. - The net loss after tax for the fiscal year ending December 31, 2024, was approximately SGD 3.6 million, compared to a net loss of SGD 0.9 million for the fiscal year ending December 31, 2023[37]. - The total assets as of December 31, 2024, were SGD 157.6 million, while total liabilities amounted to SGD 55.1 million[27]. - The group recorded a pre-tax loss of approximately SGD 2.8 million for the year ended December 31, 2024, compared to a pre-tax loss of about SGD 1.0 million for the previous year[64]. - The group reported a net loss of approximately SGD 3.6 million for the year ended December 31, 2024, compared to a net loss of about SGD 0.9 million for the year ended December 31, 2023[66]. Investments and Capital Expenditures - The company has established a venture capital fund with a total scale of RMB 100 million (approximately HKD 110 million), with the company's subscription amounting to RMB 30 million (approximately HKD 33 million), representing 30% of the total subscription[90]. - Capital expenditures related to the acquisition of property, plant, and equipment amounted to approximately SGD 2.8 million for the year ended December 31, 2024[77]. - The company has not made any significant investments, acquisitions, or disposals of subsidiaries, associates, or joint ventures as of December 31, 2024[91]. Governance and Management - The company is committed to establishing good corporate governance practices to enhance transparency and accountability to shareholders[143]. - The board of directors consists of a diverse group of members, with one-third being independent non-executive directors as of the fiscal year ending December 31, 2024[147]. - The company has complied with all provisions of the corporate governance code as outlined in the listing rules for the fiscal year ending December 31, 2024[143]. - The company has adopted a code of conduct for securities trading by directors and relevant employees, ensuring compliance with regulatory standards[144]. Risk Management and Compliance - The company has established a risk management and internal control system to identify and manage significant risks, with an independent review conducted by Technic Inter-Asia Pte Ltd for the year ending December 31, 2024[172]. - The company has adopted an anti-corruption policy to prohibit any form of fraud or bribery, ensuring compliance with strict standards of business integrity and transparency[174]. - The board believes that the risk management and internal control system was adequate and effective for the year ending December 31, 2024[174]. Environmental, Social, and Governance (ESG) - The group has set environmental goals to reduce its environmental impact and promote improvements[190]. - The ESG report outlines the group's initiatives, plans, and performance in environmental, social, and governance aspects, demonstrating its commitment to sustainable development[186]. - The company prioritizes high importance issues such as employment practices, occupational health and safety, and greenhouse gas emissions management[200]. Employee and Gender Diversity - The employee gender ratio as of December 31, 2024, is approximately 36:64 (female: male), indicating a balanced gender distribution within the company[166]. - The board has adopted a diversity policy to enhance its competitive advantage, with a commitment to gender diversity and a focus on identifying qualified female candidates for board positions[164]. - The company will continue to improve employee gender diversity, aligning with its broader diversity goals[166]. Future Outlook - The company plans to enhance its semiconductor front-end equipment manufacturing capabilities to attract more customers and products[38]. - The company remains cautiously optimistic about future developments, anticipating improved financial performance due to expanded capabilities in semiconductor front-end equipment manufacturing and increased marketing efforts[52]. - The geopolitical landscape continues to evolve, creating uncertainties, but the company is committed to adapting its strategies to capitalize on emerging opportunities in the semiconductor market[52].
精技集团(03302) - 2024 - 年度财报