Financial Statements And Related Announcement: : Full Yearly Results

Nov 18, 2025 at 10:17 AM UTC · Issued by Hg Metal Manufacturing Limited

HG Metal Manufacturing Limited (Company Registration No. 198802660D) Condensed Interim Financial Statements for the Financial Period of Nine Months Ended 30 September 2025

Table of Contents

Condensed interim consolidated statement of profit or loss and other comprehensive income...3 Condensed interim statements of financial position 5

Condensed interim statements of changes in equity 6

Condensed interim consolidated statement of cash flows 9

Selected notes to the condensed interim consolidated financial statements 10

Other information required by Listing Rule Appendix 7.2 35

‌Condensed interim consolidated statement of profit or loss and other comprehensive income

Group

Note

9 months

ended 30 September 2025

12 months

ended 31 December

2024 %

S$'000

(+/-)

Continuing operations

Revenue

130,273

157,867

(17)

Cost of sales

(111,065)

(135,795)

(18)

Gross profit

19,208

22,072

(13)

Gross margin

14.7%

14.0%

Other operating income

1,020

1,685

(39)

Selling and distribution costs

(1,316)

(1,474)

(11)

Administrative expenses

(6,724)

(8,020)

(16)

Other operating expenses

(3,079)

(3,380)

(9)

Finance costs

(363)

(620)

(41)

(Allowance)/Reversal of impairment loss on financial assets

(12)

nm*

Profit before income tax from continuing operations

8,734

10,305

(15)

Income tax expense

(1,397)

(1,464)

(5)

Net Profit for the period/year from continuing operations

7,337

8,841

(17)

Discontinued operations

Net loss for the year after tax from discontinued operations

(264)

nm*

Net profit for the period/year

7,337

8,577

(14)

Profit/(loss) attributable to:

Owners of the Company

Profit from continuing operations

7,337

8,841

(17)

Loss from discontinued operations

(2,527)

nm*

7,337

6,314

Non-controlling interests

Profit from discontinued operations -

2,263

nm*

2,263

nm*

*This amount includes S$2,230,000, which represents 48.96% of the intercompany debts of S$4.554,000 owed by First Fortune International Company Limited ("FFI") that was waived by the parent company upon completion of disposal of the discontinued operation. The waiver was recognised as a gain for the non-controlling interest, resulting in a corresponding loss for the owners of the Company in the financial year ended 31 December 2024. Please refer to Note 11 for further information.

Condensed interim consolidated statement of profit or loss and other comprehensive income (cont'd)

Group

Note

9 months

ended 30 September 2025

12 months

ended 31 December

2024 %

S$'000 S$'000 (+/-)

Net Profit for the period/year 7,337 8,577 (14)

Other comprehensive income:

Items that may be reclassified subsequently to profit or loss :

Foreign currency translation	(136)	(101)	35
Reclassification of foreign currency translation reserve to profit or loss	-	(59)	nm*
Other comprehensive income for the period/year, net of tax	(136)	(160)	(15)
Total comprehensive income for the period/year	7,201	8,417	(14)
Total comprehensive income attributable to:
Owners of the Company
Profit from continuing operations	7,201	8,781	(18)
Loss from discontinued operations	-	(2,578)	nm*
	7,201	6,203	16
Non-controlling interests
Profit from discontinued operations	-	2,214	nm*
	-	2,214	nm*

Earnings per ordinary share:

Basic (cents)

Earning per ordinary share for continuing operations	13	2.67	5.06	nm*
Earning per ordinary share for discontinued operations	13	0.00	(1.45)	nm*

Diluted (cents)

Earning per ordinary share for continuing operations	13	2.67	5.06	nm*
Earning per ordinary share for discontinued operations	13	0.00	(1.45)	nm*

*nm denotes not meaningful

‌Condensed interim statements of financial position

Group Company

Note 30 September 31 December

30 September 31 December

		2025	2024	2025	2024
		S$'000	S$'000	S$'000	S$'000
Non-current assets Property, plant and equipment	14	17,363	18,354	3,997	4,110
Right-of-use assets		5,201	5,535	-	14
Intangible assets	15	290	186	161	150
Investment in subsidiaries		-	-	13,028	13,028
Investment securities		253	255	253	255
Restricted deposits		142	142	-	-
		23,249	24,472	17,439	17,557
Current assets Investment securities		2	2	2	2
Cash and cash equivalents		68,547	55,387	55,635	45,080
Fixed deposits pledged with banks		16,325	16,325	12,325	12,325
Inventories		9,769	11,923	2,041	2,488
Trade and other receivables	16	57,056	61,362	36,004	43,142
Prepaid expenses		378	226	178	150
		152,077	145,225	106,185	103,187

Total assets		175,326	169,697	123,624	120,744
Current liabilities Lease liabilities	20	582	578	-	35
Trade and other payables	17	7,839	7,941	16,329	17,496
Bank borrowings	20	1,198	1,910	36	353
Provision for income tax		1,428	1,535	-	-
Derivative financial instruments*	18	369	5	261	13
		11,416	11,969	16,626	17,897
Non-current liabilities Lease liabilities	20	4,346	4,547	-	-
Bank borrowings	20	3,881	4,751	-	-
Deferred tax liabilities		623	571	-	-
Provision for reinstatement costs		1,572	1,572	-	-
		10,422	11,441	-	-
Total liabilities		21,838	23,410	16,626	17,897

Net assets		153,488	146,287	106,998	102,847
Equity attributable to owners of the Company Share capital	22	109,882	109,882	109,882	109,882
Treasury shares		(3,034)	(3,034)	(3,034)	(3,034)
Other reserves		2,750	2,886	2,527	2,527
Accumulated profits/(losses)		43,889	36,552	(2,377)	(6,528)
		153,487	146,286	106,998	102,847
Non-controlling interests		1	1	-	-
Total equity		153,488	146,287	106,998	102,847
Total equity and liabilities		175,326	169,697	123,624	120,744

*The derivative financial instruments relate to fair value adjustments of forward currency contracts entered into

by the Group to hedge foreign currency exposure on the Group's sales and purchases.

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