Revenue and Business Performance - The Group's revenue from dental services reached approximately S$2,039,000, an increase of approximately S$1,124,000 or 122.8% compared to S$915,000 for the year ended December 31, 2022, accounting for approximately 64.1% of total revenue[18] - The Dental Business achieved sales of S$2,039,000 for the year ended December 31, 2023, representing an increase of 122.8% compared to S$915,000 in 2022[40] - The increase in dental service revenue reflects a significant shift in the Group's operational focus and market strategy[18] - For the year ended December 31, 2023, the revenue from health products, nutritional supplements, and related medical beauty products was approximately S$1,141,000, a decrease of about S$2,185,000 or 65.7% compared to S$3,326,000 for the year ended December 31, 2022[44] - As of December 31, 2023, the trading amount of healthcare products and related aesthetics products was approximately S$1,141,000, a decrease of 65.7% from S$3,326,000 in 2022[39] Business Strategy and Transformation - The core business operations will shift to dental implant services, with a two-year business development plan established in 2022[18] - The Group's main business has transitioned from dermatology aesthetic services to dental care and dental implant services due to liquidation and judicial management of its Singapore subsidiaries in 2022[17] - The Group's strategic focus will be on expanding its dental services while also reviving its dermatology aesthetic services[19] - The company will focus on developing its core business operations in mainland China and Hong Kong, particularly in dental and dermatology services[24][33] - The vast population base and aging phenomenon in mainland China provide significant market potential for the company's development plans[24][33] - The overall business transformation is aimed at enhancing the Group's market position and operational efficiency[19] Financial Performance and Costs - Other operating income increased to approximately S$361,000 in 2023, up from S$318,000 in 2022, mainly due to gains from rental income[41] - Consumables and medical supplies used decreased to approximately S$1,133,000 in 2023, down 68% from S$3,534,000 in 2022, representing 36% of total revenue[42][43] - Employee benefits expense decreased to approximately S$2,363,000 for the year ended December 31, 2023, down from S$3,221,000 for the year ended December 31, 2022, primarily due to a reduction in staff headcount[49] - Other operating expenses decreased by approximately S$301,000 or 14% from approximately S$2,170,000 for the year ended December 31, 2022, to approximately S$1,869,000 for the year ended December 31, 2023[56] - Finance costs for the year ended December 31, 2023, were approximately S$55,000, a decrease of about S$163,000 compared to S$218,000 for the year ended December 31, 2022[57] - The loss for the year from continuing operations was approximately S$6,853,000 for the year ended December 31, 2023, a decrease from a loss of approximately S$13,127,000 for the year ended December 31, 2022[58] Governance and Compliance - The Company aims to improve corporate governance, including enhancing internal control systems and compliance training[19] - The Company emphasizes the importance of compliance checks and supervision measures in its governance framework[19] - The Group has complied with relevant laws and regulations with no material breaches reported for the year ended December 31, 2023[105] - There were no significant disputes with key stakeholders during the year ended December 31, 2023, indicating strong relationships[106] Shareholder and Director Information - The Board does not recommend the payment of a final dividend for the year ended December 31, 2023[65] - As of December 31, 2023, the Group reported no distributable reserves available for distribution to shareholders under the Companies Law of the Cayman Islands[110] - The Directors' fees are subject to Shareholders' approval at general meetings, with other emoluments determined by the Board[134] - The Group has established a Remuneration Committee to review and recommend remuneration policies[135] - The independent non-executive Directors confirmed compliance with the non-competition undertakings for the year ended December 31, 2023[191] Employee and Operational Changes - The Group had a total of 32 employees as of December 31, 2023, down from 50 in 2022[81] - The total employee costs for the year ended December 31, 2023, were approximately S$2,363,000, a decrease from approximately S$3,221,000 in 2022[81] - The company has not operated any retirement benefit schemes for its employees, except for payments to the Central Provident Fund in Singapore and a Mandatory Provident Fund Scheme in Hong Kong[143] Share Option Scheme - The Company adopted a Share Option Scheme on September 22, 2017, to incentivize and reward eligible persons for their contributions[161] - The total number of shares available for issue under the Share Option Scheme must not exceed 10% of all shares in issue as of the Listing Date unless fresh approval is obtained from shareholders[167] - As of the report date, the outstanding number of share options available for grant under the Share Option Scheme is nil[168] - A total of 60,000,000 share options were granted on September 29, 2022, at an exercise price of HK$0.109 per share[181] - The options granted are exercisable from September 29, 2022, to September 28, 2032[181]
德斯控股(08437) - 2023 - 年度财报