Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of SGD 23,871,000, an increase of 1.2% from SGD 23,593,000 in the previous year[5]. - Other income and gains rose to SGD 1,559,000, up 38.2% from SGD 1,129,000 in the prior year[5]. - The company incurred a net loss of SGD 1,528,000 for the year, compared to a loss of SGD 73,000 in the previous year, representing a significant increase in losses[5]. - The total comprehensive loss for the year was SGD 1,468,000, compared to a loss of SGD 52,000 in the previous year[6]. - The company reported a total loss before tax of SGD 1,260,000 for the year, with a net loss of SGD 1,528,000 after tax expenses[28]. - The company reported a pre-tax profit of SGD 268,000 for 2023, compared to SGD 175,000 in 2022, marking a 53.14% increase[53]. - The company reported a basic loss per share of SGD 0.007 for the year ended December 31, 2023, compared to SGD 0.004 in 2022, reflecting an increase in loss attributable to owners of the company from SGD 75,000 to SGD 142,000[55]. Expenses - Employee benefit expenses increased to SGD 7,760,000, up 11.3% from SGD 6,974,000 year-over-year[5]. - Marketing and advertising expenses rose to SGD 539,000, an increase of 27.1% from SGD 424,000 in the previous year[5]. - Other expenses increased by approximately SGD 3.20 million or 132.8% to about SGD 5.61 million for the year ending December 31, 2023, primarily due to significant spending on brand recognition and market expansion in China[79]. Assets and Liabilities - Total non-current assets decreased from SGD 6,725,000 in 2022 to SGD 6,235,000 in 2023, a decline of approximately 7.3%[9]. - Current assets increased from SGD 13,013,000 in 2022 to SGD 14,901,000 in 2023, representing a growth of about 14.5%[9]. - Total current liabilities decreased from SGD 9,803,000 in 2022 to SGD 9,028,000 in 2023, a reduction of approximately 7.9%[9]. - Total non-current liabilities rose from SGD 2,359,000 in 2022 to SGD 6,000,000 in 2023, an increase of approximately 154%[11]. - Total equity decreased from SGD 7,576,000 in 2022 to SGD 6,108,000 in 2023, a decline of about 19.4%[11]. - Total assets as of December 31, 2023, were valued at SGD 21,136,000, with total liabilities amounting to SGD 15,028,000[32]. - The company’s total assets as of December 31, 2022, were SGD 19,738,000, with total liabilities of SGD 12,162,000[35]. Revenue Segments - The maintenance and repair services segment generated revenue of SGD 15,620,000, while the modification, tuning, and beauty services segment brought in SGD 5,095,000[28]. - Revenue from the sale of food and kitchen appliances decreased to SGD 1,279,000, down 42.14% from SGD 2,212,000 in the previous year[41]. - Customer contract revenue from maintenance and repair services was SGD 15,531,000, up from SGD 15,002,000, reflecting a 3.53% growth[41]. - The total revenue from the mainland China market was SGD 4,783,000, an increase from SGD 4,347,000, reflecting a growth of 10.03%[38]. Corporate Governance and Compliance - The board believes that maintaining high standards of corporate governance is crucial for the company's growth and maximizing shareholder value[99]. - The audit committee consists of three independent non-executive directors and has reviewed the company's accounting principles and financial reporting for the year ending December 31, 2023[111]. - The annual performance announcement for the year ending December 31, 2023, has been confirmed to be consistent with the audited financial statements by the auditor[112]. Strategic Plans and Market Expansion - The company plans to continue exploring market expansion opportunities and new product development strategies in the upcoming fiscal year[5]. - The company is expanding its operations in China, integrating various business models including offline retail, takeaway services, and SaaS+ solutions[64]. - The group plans to invest in professional equipment to handle unique components and safety requirements of electric vehicles, expanding its automotive trade business to include electric vehicles[69]. - The group will maintain a cautious approach in 2024, focusing on customer service and loyalty while acquiring new customers through new products and services[71]. Shareholder Communication - The company has adopted arrangements to distribute corporate communications electronically to shareholders, effective December 31, 2023[103]. - The company encourages shareholders to provide updated contact information to facilitate timely communication[107]. - The board of directors recommended not to declare any dividends for the year ending December 31, 2023[109].
中食民安(08283) - 2023 - 年度业绩