Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately SGD 23,463,000, a decrease of about SGD 2,781,000 or 10.6% compared to the year ended December 31, 2022[8]. - The total comprehensive loss for the year was approximately SGD 5,067,000, compared to a loss of approximately SGD 8,664,000 for the year ended December 31, 2022, primarily due to an increase in gross profit of about SGD 2,842,000[8]. - The gross profit for the year ended December 31, 2023, was SGD 1,242,633, compared to a gross loss of SGD 1,598,871 for the previous year[9]. - The loss before tax for the year was SGD 5,105,708, compared to a loss of SGD 9,047,901 for the previous year[9]. - The basic and diluted loss per share for the year was SGD (0.0340), compared to SGD (0.1847) for the previous year[9]. - The company reported a pre-tax loss of SGD 5,066,755 for 2023, compared to a loss of SGD 8,664,461 in 2022[41]. - The overall gross profit turned from a loss of approximately SGD 1,599,000 for the year ending December 31, 2022, to a profit of approximately SGD 1,243,000 for the year ending December 31, 2023, with a gross profit margin of 5.3%[64]. - The company recorded a loss of approximately SGD 5,114,000 for the year ending December 31, 2023, an improvement of about SGD 3,550,000 compared to the previous year's loss of approximately SGD 8,664,000[71]. Revenue Breakdown - Total revenue for the year ended December 31, 2023, was SGD 23,463,313, a decrease from SGD 26,244,251 in 2022, representing a decline of approximately 10.7%[19]. - The truck transportation segment generated revenue of SGD 21,336,737, while the consolidation services segment contributed SGD 2,126,576, indicating a significant drop in both segments compared to the previous year[19]. - Revenue from truck transportation services decreased by approximately SGD 846,000 to about SGD 21,336,000, a decline of 3.8% due to reduced trade volume[61]. - Revenue from consolidation services decreased by 47.6% or approximately SGD 1,935,000, primarily due to the need for customers to wait for vessels to arrive before transporting containers[62]. Assets and Liabilities - Total non-current assets decreased from SGD 10,296,808 in 2022 to SGD 8,389,029 in 2023, a decline of approximately 18.5%[10]. - Current assets increased significantly from SGD 7,980,113 in 2022 to SGD 9,198,676 in 2023, representing a growth of about 15.3%[10]. - Current liabilities decreased from SGD 3,720,001 in 2022 to SGD 2,928,772 in 2023, a reduction of approximately 21.3%[10]. - Total assets increased slightly from SGD 14,556,920 in 2022 to SGD 14,658,933 in 2023, reflecting a growth of about 0.7%[10]. - Total liabilities increased to SGD 3,464,547 from SGD 4,549,695 in the previous year, indicating a reduction in financial obligations[19]. - The company's bank loans as of December 31, 2023, totaled SGD 300,000, a decrease from SGD 847,288 in 2022, reflecting a reduction of 64.6%[51]. Cash Flow and Expenses - Cash and cash equivalents decreased from SGD 2,252,650 in 2022 to SGD 1,664,561 in 2023, a decline of about 26.1%[10]. - The operating expenses for the year were SGD 6,297,171, an increase from SGD 5,946,157 in the previous year[9]. - Other income for 2023 amounted to SGD 175,359, a decrease of 25.3% compared to SGD 234,855 in 2022[32]. - Administrative expenses increased from approximately SGD 5,946,000 to about SGD 6,297,000, primarily due to costs associated with office operations and employee expenses[69]. Shareholder Information - The board of directors does not recommend the payment of any dividends for the years ended December 31, 2023, and 2022[8]. - The company did not recommend any dividend for the year ending December 31, 2023, consistent with 2022[55]. - The total issued and paid-up capital as of December 31, 2023, was SGD 5,725,993, an increase from SGD 1,442,676 in 2022[52]. Employee and Operational Developments - Employee benefits, excluding directors' remuneration, totaled SGD 8,534,886 in 2023, slightly down from SGD 8,543,626 in 2022[34]. - The group employed a total of 130 employees as of December 31, 2023, down from 140 in 2022[80]. - The group has hired 27 experienced truck drivers to support its business expansion[86]. - The group has completed the installation of a customized enterprise resource planning system and a tracking system for containers[86]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[110]. - The company confirmed that there were no interests held by directors or substantial shareholders in any competing businesses as of December 31, 2023[100]. - The company has adhered to all corporate governance code provisions during the reporting period, with a noted deviation regarding the roles of the chairman and CEO[103]. Future Outlook and Plans - The company aims to maintain growth in the industry and strengthen overall competitiveness while expanding its market share in Singapore[94]. - The company is cautious about its expansion plans due to uncertainties in the global trade economy[94]. - The company plans to enhance service capacity by purchasing new vehicles and increasing its workforce to meet business expansion needs[94].
春能控股(08430) - 2023 - 年度业绩