Financial Performance - Total revenue for the year ended December 31, 2025, was SGD 51,136,000, a decrease of 17.3% compared to SGD 61,831,000 in 2024[3] - Gross profit for the same period was SGD 16,257,000, down 14.1% from SGD 18,916,000 in 2024[4] - The company reported a net loss of SGD 1,276,000 for 2025, compared to a profit of SGD 789,000 in 2024, indicating a significant decline in profitability[4] - Basic and diluted loss per share was SGD (0.09) for 2025, compared to earnings of SGD 0.02 per share in 2024[4] - The group recorded a pre-tax loss of SGD 1.726 million for 2025, compared to a profit of SGD 321,000 in 2024[30] - The group recorded a loss of approximately SGD 1.3 million for the fiscal year ending December 31, 2025, compared to a profit of approximately SGD 0.8 million for the fiscal year ending December 31, 2024[58] - The group reported other comprehensive losses of approximately SGD 1.8 million for the fiscal year 2025, primarily due to the translation of net assets of subsidiaries in the US and Malaysia into Singapore dollars[59] Assets and Liabilities - Non-current assets decreased to SGD 11,210,000 in 2025 from SGD 13,095,000 in 2024, reflecting a reduction in property, plant, and equipment[5] - Current assets totaled SGD 64,965,000 in 2025, down from SGD 68,393,000 in 2024, primarily due to a decrease in inventory[5] - Total liabilities decreased to SGD 22,040,000 in 2025 from SGD 25,334,000 in 2024, showing a reduction in financial obligations[7] - The company’s equity attributable to shareholders decreased to SGD 50,393,000 in 2025 from SGD 53,760,000 in 2024, reflecting the impact of the net loss[7] - The group’s current assets totaled approximately SGD 65.0 million as of December 31, 2025, down from SGD 68.4 million in 2024, while current liabilities were approximately SGD 14.1 million, reduced from SGD 15.1 million in 2024[60] - The debt-to-equity ratio as of December 31, 2025, was approximately 0.04%, a decrease from 0.12% in 2024[62] Revenue Segmentation - Total revenue for the year ending December 31, 2025, is projected to be 51,136 thousand Singapore dollars, with contributions from interior design (4,781), furniture sales (14,725), and US furniture sales (31,630) [23] - The company reported a total segment performance loss of 1,207 thousand Singapore dollars, with specific losses in the interior design segment (1,223) and corporate segment (2,106) [17] - The US furniture sales segment generated a revenue of 39,398 thousand Singapore dollars, showing a significant increase from the previous year [18] - Revenue from the US furniture sales segment was approximately SGD 31.6 million, down about 19.7% from SGD 39.4 million in 2024, accounting for approximately 61.9% of the group's total revenue[43] - The furniture sales division generated revenue of approximately SGD 14.7 million for the fiscal year ending December 31, 2025, down from approximately SGD 17.1 million in 2024, primarily due to a slowdown in the high-end residential retail market[45] - Revenue from Singapore retail points decreased to approximately SGD 8.1 million for the fiscal year ending December 31, 2025, compared to approximately SGD 9.2 million in 2024[45] - The interior design and renovation services revenue decreased from approximately SGD 5.3 million for the fiscal year ending December 31, 2024, to approximately SGD 4.8 million for the fiscal year ending December 31, 2025, a reduction of about SGD 0.5 million[46] Expenses and Costs - The group’s selling and distribution expenses decreased by approximately SGD 1.0 million or 9.1%, from approximately SGD 11.5 million for the fiscal year ending December 31, 2024, to approximately SGD 10.5 million for the fiscal year ending December 31, 2025[53] - Administrative expenses increased by approximately SGD 0.9 million or 12.9%, from approximately SGD 6.9 million for the fiscal year ending December 31, 2024, to approximately SGD 7.8 million for the fiscal year ending December 31, 2025[54] - The group’s financing costs decreased by approximately 16.0% from approximately SGD 0.7 million for the fiscal year ending December 31, 2024, to approximately SGD 0.6 million for the fiscal year ending December 31, 2025[55] - The company incurred a financing cost of 597 thousand Singapore dollars, which includes interest on lease liabilities [18] - The group experienced a net foreign exchange gain of SGD 578,000 in 2025, compared to a loss of SGD 450,000 in 2024[27] Cash and Liquidity - Cash and bank balances increased to SGD 37,543,000 in 2025 from SGD 31,679,000 in 2024, indicating improved liquidity[5] - As of December 31, 2025, the total cash and bank balance of the group was approximately SGD 37.5 million, an increase from SGD 31.7 million in 2024[60] - The current ratio as of December 31, 2025, was approximately 4.6, slightly up from 4.5 in 2024[60] - The group had approximately SGD 3.4 million in unutilized bank financing as of December 31, 2025, compared to SGD 3.0 million in 2024[69] Corporate Governance - The company will continue to regularly review its corporate governance policies to ensure compliance with the corporate governance code[78] - All directors have confirmed compliance with the standard code of conduct for securities trading throughout the reporting period[79] - The company emphasizes the importance of maintaining a balance of power and authority within the board of directors[78] - The company will ensure that all significant decisions are made in consultation with the board and relevant committee members[78] Employment and Human Resources - The group employed 95 full-time employees as of December 31, 2025, down from 104 in 2024[67] - Employee costs, including director remuneration, were approximately SGD 7.0 million for the year ended December 31, 2025, compared to SGD 7.6 million in 2024[68] - The company reported a decrease in employee benefit expenses to SGD 6.075 million in 2025 from SGD 6.706 million in 2024[27] Dividends and Shareholder Information - The company did not recommend a final dividend for the year ended December 31, 2025, compared to no dividend in 2024[29] - The board did not recommend the payment of a final dividend for the year ended December 31, 2025[72] Meetings and Audit - The company will hold its annual general meeting on June 18, 2026[80] - The share register will be closed from June 15, 2026, to June 18, 2026, to determine the rights of shareholders to attend and vote at the annual general meeting[81] - The audit committee consists of five members, including non-executive directors and independent non-executive directors, with Lin Wenzheng serving as the chairman[82] - The audit committee has reviewed the company's annual performance for the fiscal year ending December 31, 2025[83] - The company's auditor, Ernst & Young, has agreed that the financial data in the preliminary announcement is consistent with the consolidated financial statements for the year[84] - The annual report for the fiscal year ending December 31, 2025, will be sent to shareholders as needed and will be available on the company's website[85]
设计都会(01545) - 2025 - 年度业绩