Financial Performance - Total revenue for 2023 was SGD 13,442,516, an increase of 33.8% from SGD 10,048,393 in 2022[2] - The company reported a gross profit of SGD 4,482,189 for 2023, up from SGD 3,028,972 in 2022, reflecting a gross margin improvement[15] - The net loss attributable to the company's owners for 2023 was SGD 14,533,043, compared to a net loss of SGD 11,266,538 in 2022, indicating a 29.8% increase in losses[12] - The total comprehensive loss for the year was SGD 14,991,827, compared to SGD 10,780,691 in 2022, representing a 38.5% increase[21] - The company reported a net loss before tax of SGD 14,292,979 for 2023, compared to a loss of SGD 10,885,365 in 2022, indicating a 31.5% increase in pre-tax losses[15] - The group reported a comprehensive loss after tax of SGD 11,267,424 for the year ended June 30, 2023[44] - The company recorded a loss of approximately SGD 14.5 million for the fiscal year, compared to a loss of about SGD 11.3 million for the fiscal year ending June 30, 2022[126] Revenue Breakdown - Revenue from Singapore accounted for 96% of total revenue in the year ended June 30, 2023, down from 100% in 2022[47] - The engineering business generated external customer revenue of SGD 10,048,393, while the fintech platform business reported a loss of SGD 10,342,238[44] - Revenue from virtual asset custody solution services was approximately SGD 0.6 million for the fiscal year, compared to none in the previous year[124] - Revenue from maintenance and other services was approximately 0.7 million Singapore dollars, an increase from 0.4 million Singapore dollars in 2022[158] Expenses and Liabilities - The company’s administrative expenses increased to SGD 19,208,340 in 2023 from SGD 13,956,781 in 2022, reflecting a 37.5% rise[15] - The total trade and other payables increased to SGD 2,014,095 in 2023 from SGD 1,684,929 in 2022[99] - The company’s liabilities increased slightly, with current liabilities totaling SGD 4,550,845 in 2023 compared to SGD 4,502,464 in 2022, reflecting a marginal increase of about 1.1%[37] Assets and Equity - The company’s total assets increased to SGD 30,054,911 in 2023 from SGD 28,442,483 in 2022, showing a growth of 5.7%[18] - As of June 30, 2023, total shareholders' equity was approximately SGD 30.1 million, up from SGD 28.4 million as of June 30, 2022[127] - The total assets decreased from SGD 34,761,351 in 2022 to SGD 30,210,506 in 2023, reflecting a reduction of approximately 13.1%[37] - Current assets increased from SGD 25,258,383 in 2022 to SGD 27,456,140 in 2023, marking a growth of about 8.7%[37] Business Strategy and Developments - The company has restructured its business segments, now focusing on Engineering, FinTech Platform, and Investment Holding, to align with its strategic objectives[40] - The group plans to expand its healthcare engineering business in Singapore and other markets, capitalizing on the growing demand for medical services[61] - The group aims to enhance its fintech platform business and explore opportunities in the blockchain and Web3 sectors in Hong Kong[62] - The company is developing a fintech trading service platform aimed at providing users with access to various asset classes, including traditional financial markets and digital assets[120] Financial Management and Governance - The company has maintained a prudent financial management approach, ensuring a robust financial position throughout the review year[142] - The company has adhered to all mandatory disclosure requirements and corporate governance codes as per the listing rules[136] - The company has not yet applied new or revised international financial reporting standards that became effective on July 1, 2022, but is currently assessing their potential impact on its financial performance[39] Shareholder Information - The company did not recommend a dividend for the year ended June 30, 2023, consistent with the previous year[5] - The board of directors has resolved not to declare a final dividend for the review year, consistent with the previous year[139] - The annual general meeting is scheduled for November 28, 2023, with a suspension of share transfer registration from November 23 to November 28, 2023[92][93] Capital and Funding - The net proceeds from the 2023 placement amounted to approximately HKD 93.56 million, with plans to allocate about 80% for fintech platform funding and 10% for engineering business funding[76] - The group has utilized 90% of the net proceeds from the 2021 placement for fintech platform operations, with the remaining 10% for general working capital[76] - The group plans to use approximately HKD 29.623 million from the net proceeds for additional properties for factory and office use, with a remaining balance of HKD 4.377 million[87] - The group has allocated HKD 1.443 million for increased marketing efforts from the net proceeds, with a remaining balance of HKD 857,000[87] - The group intends to recruit more employees using HKD 21.5 million from the net proceeds, which has been fully utilized[87] Audit and Compliance - The company has appointed Zhonghui Anda CPA Limited as its auditor effective July 31, 2023, following the resignation of Roshan Mehta[148] - The company has no future plans for significant investments or capital assets as of June 30, 2023[146] - The group has submitted an application for a virtual asset trading platform operator license to the Securities and Futures Commission through its wholly-owned subsidiary, Hong Kong BGE Limited[157]
HKE HOLDINGS(01726) - 2023 - 年度业绩