Group 1 - The core viewpoint of the article highlights that Yishiden Holdings (01656) reported a revenue of approximately 440 million SGD for the fiscal year 2025, representing an 18.2% year-on-year increase, while the net profit attributable to shareholders decreased by 20.7% due to unrealized foreign exchange losses in its energy business [1] - The gross profit for the company was about 105 million SGD, reflecting a year-on-year growth of 10.8%, although the profit margin slightly declined by 1.6 percentage points [1] - The decline in net profit was primarily attributed to a non-cash foreign exchange revaluation loss of 4.5 million SGD resulting from the weakening of the USD against the SGD during the fiscal year [1] Group 2 - Excluding the impact of foreign exchange revaluation, the core profit attributable to shareholders increased by 25.9% year-on-year, indicating an improvement in the underlying operating conditions of the company [1] - The renewable energy business of the company generates recurring revenue and stable profits through long-term contracts lasting up to 25 years [1] - The recognition of revenue from two small hydropower stations currently under development contributed to the gross profit growth, although these projects have relatively lower profit margins [1]

Core Viewpoint - Yishiden Holdings (01656) reported a revenue of approximately SGD 440 million for the fiscal year 2025, reflecting an 18.2% year-on-year increase, despite a 20.7% decline in net profit due to unrealized foreign exchange losses in its energy business [1] Financial Performance - Revenue for 2025 was approximately SGD 440 million, representing an 18.2% increase compared to the previous year [1] - Gross profit reached around SGD 105 million, with a year-on-year growth of 10.8% [1] - Shareholder profit attributable to the company was SGD 6.8 million, down 20.7% year-on-year [1] - Basic earnings per share were 1.5 Singapore cents, with a final dividend of 0.53 Singapore cents per ordinary share [1] Key Factors Affecting Performance - The decline in net profit was primarily attributed to an unrealized foreign exchange loss of SGD 4.5 million due to the weakening of the USD against the SGD during the fiscal year [1] - The renewable energy business generated recurring revenue and stable profits through long-term contracts lasting up to 25 years [1] - Excluding the impact of foreign exchange revaluation, the core profit attributable to shareholders increased by 25.9% year-on-year, indicating an improvement in underlying operational conditions [1] Profit Margin Analysis - Gross profit margin experienced a slight decline of 1.6 percentage points, mainly due to the recognition of revenue from two small hydropower projects currently under development, which have relatively lower profit margins [1]