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C-LINK SQ-NEW(01463) - 2024 - 年度财报
01463C-LINK SQ(01463)2025-04-29 08:42

Financial Performance - Revenue for the year ended December 31, 2024, was RM 96,990,000, representing a 3.4% increase from RM 93,763,000 in 2023[3] - Gross profit increased by 6.2% to RM 24,332,000 compared to RM 22,907,000 in the previous year[3] - Loss before tax significantly increased to RM (18,541,000), a 1,165.6% rise from RM (1,465,000) in 2023[3] - Loss attributable to equity holders of the Company for the year was RM (21,430,000), up 404.4% from RM (4,249,000) in 2023[3] - Total assets surged by 200.8% to RM 311,662,000 from RM 103,620,000 in 2023[3] - Total equity attributable to equity holders of the Company increased by 257.6% to RM 290,485,000 compared to RM 81,222,000 in 2023[3] - The Group recorded a net loss attributable to equity holders of approximately RM21.4 million for the year ended December 31, 2024, compared to a net loss of RM4.2 million for the previous year, primarily due to a goodwill impairment loss of RM23.3 million[22] - The company's loss for the year amounted to approximately RM21.1 million in 2024, compared to a loss of RM3.4 million in 2023, primarily due to the goodwill impairment loss[81] Revenue Streams - Revenue from outsourced document management services decreased by approximately RM6.4 million or 8.6% from RM73.7 million in 2023 to RM67.3 million in 2024, accounting for 69.4% of total revenue[51] - Revenue from outsourced insurance risk analysis and marketing services increased to approximately RM17.3 million in 2024, representing 17.9% of total revenue, up from RM13.4 million or 14.3% in 2023[56] - Revenue from enterprise software solutions increased by approximately RM1.1 million or 20.2% from RM5.6 million in 2023 to RM6.7 million in 2024, representing 6.9% of total revenue[58] - Revenue from the distribution and sales of medical equipment and pharmaceutical products was approximately RM3.6 million in 2024, up from RM1.2 million in 2023, representing 3.7% of total revenue[60] - Revenue from internet hospital and brick-and-mortar clinical services amounted to approximately RM2.1 million in 2024, representing 2.1% of total revenue[64] Acquisitions and Expansion - The acquisition of 100% of Sun Join on January 26, 2024, enables the Company to offer one-stop insurance and healthcare services[16] - The acquisition of 100% of Shengji's issued shares on January 26, 2024, allows the Group to offer a one-stop insurance and healthcare service to an expanded customer base in China[19] - The company completed the acquisition of 100% of the issued shares of Sun Join for a total consideration of HK474,251,497onJanuary26,2024,makingSunJoinanindirectwhollyownedsubsidiary[122]CostManagementandProfitabilityCostofsalesincreasedbyapproximatelyRM1.8millionor2.5474,251,497 on January 26, 2024, making Sun Join an indirect wholly-owned subsidiary[122] Cost Management and Profitability - Cost of sales increased by approximately RM1.8 million or 2.5% from RM70.9 million in 2023 to RM72.7 million in 2024[65] - Administrative expenses rose by approximately RM18.2 million or 72.7%, from RM25.0 million in 2023 to RM43.2 million in 2024, primarily due to a goodwill impairment loss of RM23.3 million[73] - The Group aims to minimize the impact of high costs due to a strong US Dollar and inflation by reducing costs and reinforcing innovation in the Streamline Suite[38] Financial Ratios and Position - The current ratio improved to 6.1 times from 5.3 times in the previous year, reflecting a 15.1% increase[3] - Gearing ratio decreased to 1.5% from 8.5%, indicating a reduction in financial leverage[3] - The Group's total loans and borrowings decreased to approximately RM4.3 million as of December 31, 2024, representing a reduction of approximately RM2.6 million or 37.8% compared to RM6.9 million as of December 31, 2023[105] - The Group's cash and bank balances increased to approximately RM59.7 million as of December 31, 2024, up from approximately RM42.7 million as of December 31, 2023[106] Strategic Focus and Development - The Group is focusing on continuous investment in proprietary enterprise IT software to enhance its competitive edge in Malaysia and Singapore[30] - The Group's strategy includes developing IT applications and services to maintain a competitive advantage in the market[20] - The Group aims to identify market opportunities and threats through constant monitoring of trends and customer needs, which is crucial for sustained competitiveness and growth[26] - The Group's strategy focuses on driving growth in core businesses by continuously developing proprietary enterprise software to maintain a competitive edge[35] Regulatory and Market Challenges - For the year ended December 31, 2024, Sun Join Group's financial performance did not meet the cash flow forecast primarily due to changes in PRC National Healthcare Security Administration's policies, which reduced the number of reimbursable medicines and led to a decline in drug sales[98] - Regulatory changes in 2024 restricted internet hospitals from prescribing injectable drugs and limited services to online consultations and certain oral medications, affecting revenue streams[98] - The company faced increased competition in the medical device sector, which, combined with rising raw material prices, diminished its competitive edge and revenue from medical equipment sales[100] Management and Governance - Mr. Ma Shengcong was appointed as Executive Director and CEO on May 1, 2023, bringing over 20 years of experience in the insurance industry[149] - The management team has a diverse background in various sectors, including finance, marketing, and technology, enhancing the company's strategic capabilities[149][151][157] - The board's composition includes experienced professionals from various industries, ensuring a well-rounded approach to governance and strategy[155][157] Use of Proceeds and Investments - The company plans to increase technological capability and develop into other market verticals, with 89.8% of net proceeds allocated for this purpose, amounting to HK66.2 million[141] - A portion of the net proceeds, 76.7% or HK$56.5 million, is designated for acquiring and converting an existing building into a Data Centre and upgrading IT infrastructure[141] - The company will continue to observe business environments and trends to evaluate the use of net proceeds for the best interests of the company[143]