Financial Performance - Total revenue for the year ended December 31, 2023, was 101,575 thousand SGD, a decrease of 1.1% from 102,725 thousand SGD in 2022[3] - Gross profit increased to 14,478 thousand SGD, up 18.7% from 12,198 thousand SGD in the previous year[3] - Operating profit for the year was 5,816 thousand SGD, representing an increase of 13.2% compared to 5,138 thousand SGD in 2022[3] - Net profit attributable to equity holders was 1,346 thousand SGD, down 49.7% from 2,673 thousand SGD in the previous year[4] - Basic earnings per share decreased to 0.07 SGD from 0.20 SGD in the previous year[4] - Other income decreased significantly to 798 thousand SGD, down 60.9% from 2,041 thousand SGD in 2022[3] - The group reported a net income from other income of 573,000 New Taiwan Dollars in 2023, compared to 1,590,000 New Taiwan Dollars in 2022, indicating a significant decrease[23] - The group recorded a net profit of approximately 1.3 million SGD in FY2023, down from approximately 2.7 million SGD in FY2022, representing a decrease of about 1.4 million SGD[73] Assets and Liabilities - Total assets as of December 31, 2023, amounted to 80,529 thousand New Taiwan Dollars, compared to 80,065 thousand New Taiwan Dollars in 2022, reflecting a growth of 0.58%[6] - Current liabilities decreased from 51,079 thousand New Taiwan Dollars in 2022 to 47,291 thousand New Taiwan Dollars in 2023, a reduction of approximately 7.0%[6] - The net value of current assets increased to 33,238 thousand New Taiwan Dollars in 2023, up from 28,986 thousand New Taiwan Dollars in 2022, representing an increase of about 14.0%[6] - The company's total equity rose to 56,297 thousand New Taiwan Dollars in 2023, compared to 55,092 thousand New Taiwan Dollars in 2022, indicating a growth of approximately 2.2%[7] - The company reported a decrease in total non-current liabilities from 6,271 thousand New Taiwan Dollars in 2022 to 5,729 thousand New Taiwan Dollars in 2023, a reduction of about 8.6%[7] - The company's total liabilities decreased from 51,079 thousand New Taiwan Dollars in 2022 to 47,291 thousand New Taiwan Dollars in 2023, a decrease of about 7.0%[6] - The group’s bank borrowings as of December 31, 2023, totaled SGD 28,423,000, down from SGD 31,256,000 in 2022, reflecting a decrease of approximately 9%[40] - The group's total borrowings as of December 31, 2023, were SGD 28,947,000, compared to SGD 32,047,000 in 2022, indicating a decrease of approximately 9.7%[40] Income and Expenses - Administrative expenses were 9,642 thousand SGD, slightly down from 9,757 thousand SGD in the previous year[3] - The group’s operating expenses included employee benefits amounting to 27,592,000 New Taiwan Dollars, an increase from 25,830,000 New Taiwan Dollars in the previous year[25] - Financial costs rose from approximately 1.3 million SGD in FY2022 to about 1.6 million SGD in FY2023, an increase of approximately 0.3 million SGD due to higher average interest rates[69] - The total employee cost for the fiscal year 2023 is approximately 27.6 million SGD, an increase from 25.8 million SGD in the fiscal year 2022, with a total of 634 full-time employees as of December 31, 2023, compared to 618 in the previous year[88] Market Outlook and Strategy - The company plans to focus on market expansion and new product development in the upcoming year[2] - Future guidance indicates a cautious outlook due to market conditions and competition[2] - The company anticipates challenges due to geopolitical tensions, high interest rates, and increased borrowing costs, which may impact profit margins moving forward[55] - The group plans to continue monitoring the market recovery from COVID-19 and will prioritize cash conservation and cost control measures in its strategy for 2024[58] - The group aims to actively participate in bidding for new projects to solidify its market position[58] Compliance and Reporting - The group has adopted new International Financial Reporting Standards (IFRS) effective from January 1, 2023, including IFRS 17 related to insurance contracts and IFRS 12 regarding international tax reform[13] - The audit committee has reviewed the audited financial performance for the fiscal year 2023 and has no objections to the financial statements[97] - The annual performance announcement and annual report for the fiscal year 2023 will be published on the Hong Kong Stock Exchange website and the company's website[99] Shareholder Information - The company did not recommend any final dividend for the year ending December 31, 2023, compared to no dividend in 2022[52] - The company has adopted a stock option plan as of February 18, 2020, aimed at incentivizing employees, directors, and other stakeholders, with no stock options granted, exercised, canceled, or expired as of December 31, 2023[94] - As of December 31, 2023, the company's controlling shareholders and directors confirmed no interests in any competing businesses directly or indirectly related to the company's operations[95]
伟源控股(01343) - 2023 - 年度业绩