Financial Performance - The group's revenue increased by approximately 13.4% from about SGD 14,008,000 in 2023 to approximately SGD 15,889,000 in 2024[12] - The gross profit for the year was approximately SGD 3,784,000, with a gross margin of about 23.8%, down from 37.2% in 2023[16] - The group recorded a loss of approximately SGD 902,000 for the year, a significant improvement from a loss of about SGD 2,280,000 in 2023[20] - The pre-tax loss for the year was approximately SGD 706,000, down from about SGD 1,960,000 in 2023[19] - The net loss attributable to equity holders for the year was SGD 901,630, compared to SGD 2,280,454 in 2023, indicating a reduction of 60.5%[159] - Basic and diluted loss per share improved to SGD (0.381) from SGD (0.963) year-over-year[159] - The total comprehensive loss for the year was SGD 699,281, a significant improvement from SGD 2,155,421 in 2023[159] Revenue Breakdown - The total revenue from sales of signage and related products in Singapore for the year ended December 31, 2024, was approximately SGD 11,835,000, compared to SGD 11,639,000 in 2023, indicating a stable demand in the construction sector[23] - Revenue from renovation services for commercial and residential projects increased to approximately SGD 4,054,000 in 2024, up from SGD 2,369,000 in 2023, reflecting a growth of about 70.9%[23] - Revenue from renovation and refurbishment services for the year ended December 31, 2024, was SGD 4,054,373[147] Expenses and Costs - Selling and administrative expenses increased by approximately 17.7% to about SGD 4,154,000, primarily due to higher advertising and other expenses[17] - The total employee costs for the year ended December 31, 2024, were approximately SGD 4,084,000, compared to SGD 4,319,000 in 2023, showing a reduction of about 5.4%[29] - Financing costs reduced to SGD 105,191 from SGD 130,003, indicating better management of debt[159] Cash and Liquidity - As of December 31, 2024, the group's cash and cash equivalents increased to approximately SGD 4,505,000, up from SGD 4,292,000 in 2023[22] - Cash generated from operating activities was SGD 1,903,534 in 2024, down from SGD 2,519,178 in 2023[167] - The net cash increase for cash and cash equivalents was SGD 183,466 in 2024, compared to SGD 1,867,062 in 2023[169] - The company actively manages liquidity risks associated with contracts ranging from 1 to 4 years, monitoring cash flow to ensure sufficient working capital[99] Debt and Borrowings - The total borrowings of the group as of December 31, 2024, were approximately SGD 2,514,000, a decrease from SGD 2,804,000 in 2023[21] - The group's debt-to-asset ratio as of December 31, 2024, was approximately 14.2%, down from 15.2% in 2023[21] - The company’s borrowings include property loans of approximately SGD 1,603,000 and lease liabilities of about SGD 910,000 as of December 31, 2024[103] Governance and Compliance - The board has established the group's mission, values, and strategy, emphasizing sustainable growth and stakeholder value creation[42] - All directors confirmed compliance with the trading code for the year ending December 31, 2024, with no known violations[43] - The board consists of five members, including two executive directors and three independent non-executive directors[44] - The Audit Committee held 4 meetings during the year ending December 31, 2024, with all members attending all sessions[57] - The company maintains a strict anti-discrimination policy to ensure equal employment opportunities for all candidates and employees[66] Risk Management - The company has established a risk management and internal control system, which has been deemed sufficient and effective by the audit committee and board for the year ending December 31, 2024[76] - The board is responsible for assessing the nature and extent of risks acceptable in achieving strategic objectives[76] Shareholder Communication - The company has adopted a shareholder communication policy to ensure timely and equal access to information for shareholders and potential investors[85] - The company has set up multiple channels for communication with shareholders and investors[86] Accounting Policies - The group has applied new and revised International Financial Reporting Standards (IFRS) for the first time in the preparation of consolidated financial statements, effective from January 1, 2024, with no significant impact on the financial position or performance for the current and prior years[172][174]. - Revenue from customer contracts is recognized when control of the goods or services is transferred to the customer, in accordance with IFRS 15[185]. - The group recognizes income from subsidiaries based on received and receivable dividends, with impairment testing required if dividends exceed the subsidiary's total comprehensive income[183]. Employee Composition - As of December 31, 2024, the board consisted of 4 males (80%) and 1 female (20%), reflecting the company's commitment to board diversity[65] - The gender composition of employees, including senior management, was approximately 76% male and 24% female as of December 31, 2024[66]
吉辉控股(08027) - 2024 - 年度财报