Financial Performance - The group's revenue for the fiscal year ending March 31, 2023, was approximately SGD 57.8 million, up from SGD 44.7 million in the previous year[7]. - Gross profit decreased from approximately SGD 12.0 million to about SGD 9.1 million, resulting in a gross margin decline from 26.8% to 15.7%[7]. - Loss attributable to equity holders increased from approximately SGD 982,000 to about SGD 6.4 million[7]. - Revenue from integrated building services and construction projects rose from approximately SGD 44.8 million to about SGD 58.1 million, but gross profit declined due to increased competition and higher direct labor costs[8]. - The company recorded revenue of approximately SGD 57.8 million for the review year, an increase of about SGD 13.1 million or approximately 29.3% compared to SGD 44.7 million last year[19]. - The company experienced a loss in the information technology development and application business, increasing from a loss of approximately SGD 123,000 to about SGD 376,000, primarily due to a decline in Bitcoin prices and trading volume[19]. - The company's gross profit decreased from approximately SGD 12.0 million to about SGD 9.1 million, a reduction of about SGD 2.9 million or 24.2%[22]. - The company reported a loss attributable to owners of approximately SGD 6.4 million, up from SGD 982,000 last year, mainly due to reduced gross profit margins and increased administrative expenses[29]. Administrative and Operational Expenses - Administrative expenses increased from SGD 9.9 million to SGD 12.8 million, driven by higher employee numbers and wage costs due to labor shortages in Singapore[8]. - Administrative expenses rose from approximately SGD 9.9 million to about SGD 12.8 million, an increase of about SGD 2.9 million or 29.3%[26]. - The company’s financing costs increased from approximately SGD 6,000 to about SGD 47,000 due to additional lease agreements and increased interest expenses[27]. Market Outlook and Demand - The total construction demand in Singapore for 2023 is expected to be between SGD 27 billion and SGD 32 billion, with public sector projects contributing about 60%[12]. - The outlook for the construction industry in 2023 remains challenging due to external uncertainties and labor shortages, impacting bidding competition and profitability[13]. - The mid-term construction demand is projected to reach between SGD 25 billion and SGD 32 billion annually from 2024 to 2027, supported by public sector projects[13]. Strategic Investments and Future Plans - The group plans to invest in new financial services, including asset management, following the licensing granted to its subsidiary in May 2022[9]. - The company plans to invest in new financial services, including asset management and other financial services, to enhance shareholder value and diversify its business[18]. - The company aims to reduce subcontractor usage in electrical and air conditioning engineering by enhancing internal capabilities, with an investment of SGD 6,971,000 allocated for this purpose[57]. - The total investment for expanding operational capacity and acquiring more resources in Singapore is SGD 12,475,000, with SGD 5,270,000 already utilized[57]. Corporate Governance - The company emphasizes good corporate governance to protect shareholder rights and ensure accountability[76]. - The board of directors consists of seven members, including one executive director, three non-executive directors, and three independent non-executive directors[78]. - The company has adopted a board diversity policy to enhance the effectiveness of the board through various factors such as gender, age, and professional experience[80]. - The role of chairman and CEO is separated, with the chairman being Mr. Yao Yongjie, while the CEO position has been vacant since July 23, 2021[82]. - The company has established three board committees: the audit committee, remuneration committee, and nomination committee, each with defined responsibilities[95]. Shareholder Information - The board has decided not to recommend any final dividend for the review year[135]. - As of March 31, 2023, Mr. Yao Yongjie holds 366,175,000 shares, representing approximately 30.64% of the company's ordinary shares[158]. - The company has not purchased, sold, or redeemed any of its securities during the review year[139]. - The company has adopted a policy for dividend payments, considering financial performance, cash flow, and future demand[136]. Environmental, Social, and Governance (ESG) Performance - The company’s environmental, social, and governance (ESG) performance is detailed in the ESG report for the year ending March 31, 2023[193]. - The board emphasizes the integration of environmental sustainability into the group's daily operations and has included environmental, social, and governance (ESG) issues in its business strategy[194]. - The group conducts annual risk assessments covering potential ESG-related risks and opportunities to enhance adaptability[194]. - The group adheres to the ESG reporting principles set by the Hong Kong Stock Exchange, ensuring consistency and transparency in its disclosures[198]. - The group employs standardized methods for reporting emissions and energy consumption, ensuring the reliability of its environmental data[200].
雄岸科技(01647) - 2023 - 年度财报