Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately SGD 3,180,000, a decrease of about SGD 1,061,000 or 25% compared to the year ended December 31, 2022[6]. - The group recorded a loss from continuing operations of approximately SGD 6,853,000, a reduction of about SGD 6,274,000 or 47.8% compared to the loss of SGD 13,127,000 for the year ended December 31, 2022[6]. - Basic loss per share from continuing operations for the year ended December 31, 2023, was 0.51 Singapore cents, compared to 1.01 Singapore cents for the year ended December 31, 2022[6]. - Total comprehensive loss for the year was SGD 6,559,000, down from SGD 18,639,000 in the previous year[8]. - The group reported a net loss of SGD 6,749,000 attributable to owners of the company for the year ended December 31, 2023[22]. - The company reported a pre-tax loss of SGD 6,749,000 for 2023, a decrease from a loss of SGD 18,649,000 in 2022, representing a 63.8% improvement[49]. - Basic and diluted loss per share for 2023 was SGD 0.51, compared to SGD 1.44 in 2022, indicating a 64.6% reduction in loss per share[49]. - The company recorded a net foreign exchange loss of SGD 376,000 in 2023, compared to a gain of SGD 102,000 in 2022[43]. - Total other income and losses for 2023 amounted to SGD 338,000, significantly lower than SGD 4,529,000 in 2022, reflecting a decrease of 92.6%[43]. - The company reported a total loss of approximately SGD 12.5 million as of December 31, 2023, compared to a loss of about SGD 6.3 million in 2022[74]. Revenue Breakdown - Total revenue for 2023 was SGD 3,180,000, a decrease of 25% from SGD 4,241,000 in 2022[31]. - Dental services revenue increased significantly to SGD 1,632,000 in 2023 from SGD 216,000 in 2022, representing a growth of 655%[31]. - Revenue from the sale of dental implants and oral health-related products rose to SGD 246,000 in 2023, up from SGD 91,000 in 2022, marking a 170% increase[31]. - Trade sales revenue decreased to SGD 1,141,000 in 2023 from SGD 3,326,000 in 2022, a decline of 66%[31]. - Revenue from external customers in China increased to SGD 2,039,000 in 2023 from SGD 915,000 in 2022, a growth of 123%[38]. - The group did not recognize any revenue from discontinued operations in 2023, compared to SGD 9,034,000 in 2022[31]. - Revenue from health products, nutritional supplements, and related medical beauty products was approximately SGD 1,141,000, a decrease of about SGD 2,185,000 or 65.7% compared to SGD 3,326,000 for the year ended December 31, 2022[59]. - The dental business generated sales of SGD 2,039,000, an increase of approximately SGD 1,124,000 or 122.8% compared to SGD 915,000 for the year ended December 31, 2022[61]. Assets and Liabilities - Non-current assets decreased from SGD 4,024,000 in 2022 to SGD 1,008,000 in 2023, primarily due to a significant reduction in right-of-use assets[10]. - Current assets decreased from SGD 8,372,000 in 2022 to SGD 3,140,000 in 2023, with trade and other receivables dropping from SGD 5,201,000 to SGD 1,841,000[10]. - Current liabilities increased slightly from SGD 15,137,000 in 2022 to SGD 15,242,000 in 2023, leading to a net current liability position of SGD 12,102,000[10]. - The total equity attributable to owners of the company decreased from SGD 6,288,000 in 2022 to SGD 12,407,000 in 2023, reflecting the overall loss incurred[11]. - As of December 31, 2023, the group's current liabilities exceeded its current assets by SGD 12,102,000[22]. - The financial guarantee provided to the Singapore liquidated subsidiaries amounted to approximately SGD 4,076,000, recognized as current liabilities[22]. - The company’s total liabilities included SGD 8,388,000 in other payables as of December 31, 2023, up from SGD 7,562,000 in 2022, an increase of 10.9%[53]. - The company's net liabilities increased to approximately SGD 12,519,000 as of December 31, 2023, compared to SGD 6,296,000 as of December 31, 2022[72]. - The company's net current liabilities amounted to approximately SGD 12.1 million as of December 31, 2023, compared to about SGD 6.8 million in 2022[74]. Cash Flow and Liquidity - The company’s cash and cash equivalents were approximately SGD 306,000 as of December 31, 2023, indicating insufficient liquidity to meet immediate repayment obligations[22]. - The company has cash and cash equivalents of SGD 306,000, indicating insufficient liquidity to settle financial guarantee liabilities[98]. - The company plans to implement measures to improve liquidity and financial condition over the next twelve months[99]. - The company is exploring financing options, including attracting new investors and issuing debt securities[100]. Operational Changes and Future Plans - The group has taken measures to alleviate cash flow pressure and improve its financial position, including engaging with financial institutions providing bank financing[22]. - The company is actively seeking alternative financing solutions, including plans to introduce new investors or issue debt and equity securities[27]. - The group has terminated the consolidation of the Singapore liquidated subsidiaries, resulting in the exclusion of their financial performance from the consolidated financial statements[18]. - The board has implemented a new business plan and strategy to revitalize the healthcare services segment, integrating it with dental and trading businesses[91]. - Future focus will be on promoting and developing healthcare services through Wong Yan Medical in Hong Kong[92]. - The independent auditor has not issued an opinion on the consolidated financial statements due to significant uncertainties regarding the company's ability to continue as a going concern[96]. Corporate Governance - The company has adopted the corporate governance code and has committed to improving its governance practices[85]. - The company has signed a shareholders' agreement with Wong Yan Medical Limited, gaining control over its board[91]. Dividends - The company did not recommend the payment of a final dividend for the year ended December 31, 2023[6]. - The company did not declare a final dividend for the year ending December 31, 2023, consistent with the previous year[47].
德斯控股(08437) - 2023 - 年度业绩