Financial Performance - Total revenue for the year ended December 31, 2023, was SGD 14,008,147, a decrease of 54.9% compared to SGD 30,379,066 in 2022[5] - Gross profit increased to SGD 5,211,622, up 55.0% from SGD 3,361,595 in the previous year[5] - The net loss for the year was SGD 2,280,454, compared to a net loss of SGD 1,621,897 in 2022, representing a 40.5% increase in losses[5] - The company reported a pre-tax loss of SGD 1,960,364 for the year, compared to a profit in the previous year[25] - The company reported a net loss attributable to owners of SGD (2,280,454) for the year ended December 31, 2023, compared to SGD (1,621,897) in 2022[33] - For the year ended December 31, 2023, the group recorded revenue of approximately SGD 14,008,000, a decrease of about 53.9% or SGD 16,371,000 compared to SGD 30,379,000 in 2022[43] - The gross profit for the year ended December 31, 2023, was approximately SGD 5,212,000, with a gross margin of about 37.2%, compared to 11.1% in 2022[43] Assets and Liabilities - Total assets as of December 31, 2023, were SGD 18,434,829, a slight decrease from SGD 18,570,113 in 2022[7] - Current liabilities increased significantly to SGD 6,745,354, up from SGD 2,722,498 in 2022, indicating a 147.5% rise[7] - Total assets as of December 31, 2023, amounted to SGD 18,434,829, with total liabilities of SGD 7,514,679[25] - The total equity as of December 31, 2023, was SGD 10,920,150, down from SGD 13,075,571 in 2022, indicating a decrease of 16.5%[8] - As of December 31, 2023, total interest-bearing borrowings amounted to approximately SGD 2,804,000, down from SGD 3,210,000 in 2022[46] - The group’s asset-to-liability ratio was approximately 17.8% as of December 31, 2023, compared to 17.3% in 2022[46] Cash Flow and Expenditures - Cash and bank balances improved to SGD 4,292,329, compared to SGD 2,516,009 in the previous year, reflecting a 70.7% increase[7] - Cash and cash equivalents increased by approximately SGD 1,776,000, primarily due to net cash generated from operating activities of about SGD 2,536,000[45] - Capital expenditures for the year were SGD 125,558, primarily for the acquisition of property, plant, and equipment[25] - Capital expenditures for the year amounted to SGD 975,189, reflecting investments in property, plant, and equipment[27] Revenue Breakdown - Revenue from the signage business was SGD 11,639,398, while revenue from renovation services was SGD 2,368,749[25] - Revenue from Singapore was SGD 11,639,398, while revenue from China was SGD 2,368,749, indicating a significant drop in the Chinese market from SGD 22,839,701 in 2022[24] - Revenue from the sale of signage and advertising in the public and private sectors in Singapore increased to approximately SGD 11,639,000 in 2023 from SGD 7,539,000 in 2022[47] Credit Loss and Expenses - The company recognized an expected credit loss provision of SGD 3,317,458, significantly higher than SGD 1,007,581 in 2022, marking a 229.5% increase[5] - Trade receivables increased to SGD 9,028,795 in 2023 from SGD 7,112,746 in 2022, with an expected credit loss provision of SGD (4,785,552)[35] - The company incurred depreciation and amortization expenses of SGD 465,942 and financing costs of SGD 130,003 during the year[25] - The company’s depreciation and amortization expenses for the year were SGD 465,942, up from SGD 443,923 in the previous year[33] - Financing costs increased significantly to SGD 130,003 in 2023 from SGD 54,323 in 2022, driven by higher interest expenses on bank loans and lease liabilities[29] Corporate Governance and Compliance - The board believes that good corporate governance is a key element in managing the group's business and affairs, and it has complied with the corporate governance code during the year[66] - The audit committee has reviewed the audited annual results for the year ended December 31, 2023[72] - The company has adopted a code of conduct regarding securities transactions by directors, and all directors confirmed compliance during the year[68] - The audit committee consists of three independent non-executive directors, with Lu Qiaoyan serving as the chairman[71] Future Outlook - The group anticipates a slow recovery in construction activity demand in Singapore, with the renovation and refurbishment services expected to remain stable in 2024[55] Shareholder Information - As of December 31, 2023, the total shares held by executive director Chen Tianji is 39,337,600, representing 16.61% of the company's issued share capital[58] - The company has no knowledge of any other individuals holding 5% or more of the issued share capital aside from those disclosed[62] - The company did not purchase, sell, or redeem any of its listed securities during the year ended December 31, 2023[65] Events and Updates - There were no significant events after the reporting period up to the date of this announcement[69] - The financial figures in the announcement are consistent with the group's audited financial statements[67]
吉辉控股(08027) - 2023 - 年度业绩