Business Expansion and Acquisitions - The company established a wholly-owned subsidiary, Hunan Optima Automobile Co., Ltd., in Changsha, Hunan, China, to expand its parallel import vehicle trade and related businesses in Central and South China[12]. - The company acquired a total of 53% equity in Hunan Maliang Digital Technology Co., Ltd., which focuses on collecting educational data and providing management platform services for the kindergarten sector in China[12]. - The acquisition of a 53% stake in Hunan Maliang Digital Technology Co., Ltd. contributed to the group's financial performance and strategic expansion into the Chinese market[39]. - The company is actively seeking opportunities to expand its business into other regions of China and overseas[12]. - The group plans to enhance existing businesses and seek opportunities to improve growth prospects, particularly in sectors like biomedicine, new retail, e-commerce, and franchise management[64]. - The group is actively seeking expansion opportunities in the e-commerce sector to adapt to market changes and enhance growth prospects[50]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share in the region by 2025[116]. - A strategic acquisition of a local competitor was completed, valued at $100 million, which is anticipated to enhance operational efficiencies[116]. Financial Performance - The group's revenue for the fiscal year 2022 was SGD 81.6 million, an increase of approximately SGD 24.5 million from SGD 57.1 million in fiscal year 2021[41]. - Automotive supply revenue increased by approximately SGD 22.3 million to about SGD 64.7 million in fiscal year 2022, compared to approximately SGD 42.4 million in fiscal year 2021[49]. - The increase in revenue was primarily attributed to a revenue increase of approximately SGD 21.7 million from the automotive trading business in China and an increase of approximately SGD 2.5 million from subsidiaries in Singapore[59]. - The company reported a significant increase in revenue for the fiscal year ending December 31, 2022, with a total revenue of $500 million, representing a 20% year-over-year growth[116]. - User data showed a 15% increase in active users, reaching 1.2 million by the end of the reporting period[116]. - The company provided guidance for the next fiscal year, projecting a revenue growth of 25%, aiming for $625 million in total revenue[116]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on electric vehicle technology[116]. - The education business generated revenue of approximately SGD 0.3 million in fiscal year 2022, following its addition in fiscal year 2021[49]. Operational Challenges and Market Conditions - The company’s joint venture, Optima Werkz Myanmar Services Co., Ltd., faced operational disruptions due to political unrest but has since resumed business operations[16]. - The group remains cautious about the ongoing impact of the COVID-19 pandemic and the unstable economic environment, focusing on strengthening its position in the automotive after-sales service and short-term and long-term leasing businesses[65]. Environmental Responsibility and Sustainability - The total hazardous waste disposal density decreased by approximately 41% in the fiscal year 2022 compared to fiscal year 2021, primarily due to an increase in revenue used for calculating this density[76]. - The total amount of hazardous waste generated in fiscal year 2022 was 79.31 tons, down from 93.54 tons in fiscal year 2021[76]. - The density of hazardous waste per million revenue (SGD) was 0.97 in fiscal year 2022, compared to 1.64 in fiscal year 2021[76]. - The total amount of non-hazardous waste generated in fiscal year 2022 was 13.51 tons, a decrease of approximately 29% compared to fiscal year 2021[80]. - The density of non-hazardous waste per million revenue (SGD) was 0.17 in fiscal year 2022, down from 0.24 in fiscal year 2021[80]. - Total energy consumption in FY2022 was 726,679.61 kWh, an increase from 675,292.12 kWh in FY2021, representing a 7.4% rise[84]. - The company has implemented energy-saving measures, resulting in a 25% reduction in energy consumption density due to increased revenue[83]. - The company actively promotes water conservation among employees and has implemented measures to reduce water usage[86]. - The company has established an environmental and natural resources policy to manage environmental risks and opportunities[89]. - The company has received approval for its spray painting operations, ensuring compliance with environmental regulations[90]. Corporate Governance and Compliance - The board of directors has approved a dividend payout of $0.10 per share, reflecting a commitment to returning value to shareholders[116]. - Corporate governance practices have been reviewed and updated to ensure compliance with GEM listing rules[119]. - The company has adopted and complied with the corporate governance code applicable to its business activities and decision-making processes as of December 31, 2022[148]. - The board of directors has received all relevant information in a timely manner to ensure compliance with board procedures and applicable regulations in the Cayman Islands and Hong Kong[150]. - The company has established a remuneration committee to review and recommend the overall remuneration of directors and senior management, ensuring no director determines their own remuneration[163]. - The audit committee has met at least four times during the year to consider quarterly reports, interim reports, and annual reports, ensuring effective oversight of financial reporting[165]. - The company has adopted a risk management framework that includes clear operational and reporting procedures, as well as ethical standards for all business operations[176]. - The company has implemented an insider information policy to ensure compliance with disclosure requirements related to insider trading[173]. - Independent non-executive directors have confirmed their independence in accordance with GEM listing rules, ensuring unbiased decision-making[155]. - The roles of the chairman and CEO are held by different individuals, maintaining a clear separation of responsibilities[161]. - The company has conducted training for newly appointed directors to ensure they understand their responsibilities under GEM listing rules and corporate governance codes[157]. - The company has adopted an anti-corruption policy to ensure the highest standards of integrity and ethical behavior in its business operations[179]. - All measurable goals under the board's diversity policy were fulfilled as of December 31, 2022[183]. - The external auditor's fees for audit and non-audit services provided to the company were disclosed in the annual report[182]. Research and Development - Research and development expenses increased by 10% to $30 million, focusing on innovative automotive technologies[116]. - The company is committed to acquiring new technologies and equipment to prepare for challenges in new market developments and new vehicle types, particularly in the context of Singapore's Green Plan 2030[19].
傲迪玛汽车(08418) - 2022 - 年度财报