Courage Investment Group Limited Annual Report 2024 Analysis and Insights

Courage Investment Group Limited Reports Improved Financial Performance for FY2024

The board of directors of Courage Investment Group Limited (HK Stock Code: 1145; SGX Stock Code: CIN)
has announced the company’s annual report for the year ended 31 December 2024.

Key Financial Highlights

The Group reported an increase in revenue by 8% to US\$9,183,000 (2023: US\$8,512,000).
Recorded a profit attributable to owners of the Company of US\$1,706,000 (2023 loss of US\$3,974,000).
Basic earnings per share was US0.16 cent (2023: basic loss per share of US0.36 cent).

Business Review

During the year ended 31 December 2024, (“FY2024”), the Group continued to principally engage in the business of marine transportation, investment holding, property holding and investment, and merchant trading.

The market fundamentals for the Group’s shipping business showed improvement, primarily driven by the global economic recovery, which boosted demand for dry bulk commodities. At the same time, vessel supply was constrained by various factors, and the Red Sea Crisis further exacerbated the global shortage of shipping capacity, contributing to the rise in market freight.

Revenue and Profit

For FY2024, the revenue of the Group’s marine transportation business increased by 9% to US\$9,183,000 (2023: US\$8,449,000), while its profit increased by 39% to US\$3,097,000 (2023: US\$2,227,000).

The increase in revenue and profit was mainly attributable to the general improvement in the market fundamentals for the Group’s shipping business.

Overall, in comparison to 2023, the market fundamentals for the Group’s shipping business showed improvement, primarily driven by the global economic recovery and boosted demand for dry bulk commodities.

Investment Holding and Merchandise Trading

The Group’s investment holding business recorded no revenue (2023 US\$63,000) but with a segment loss of US\$389,000 (2023: US\$1,186,000). For the year ended 31 December 2023, the revenue of the business represented interest income from corporate bonds.

No new investments were made in corporate bonds during the year.

Events after the Reporting Period

Subsequent to the end of the reporting period, China Mark Limited, a limited company incorporated in Hong Kong which is wholly-owned by Ms. Liu Sainan, become the immediate and ultimate holding company of the Company.

Management Discussion and Analysis

The Group’s financial performance was mainly driven by its marine transportation business.

The Board believes a healthy corporate culture is vital in attaining the Group’s vision, values and strategy.

Corporate Governance

The Company had complied with all the applicable provisions of the Corporate Governance Code for the year ended 31 December 2024.

The Board formulates the overall strategy of the Group, monitors its financial performance and maintains effective oversight over the management.

Risk Management

The Group is exposed to financial risks relating to foreign currency, interest rate, credit, and liquidity in its ordinary course of business.

Details of such risks and management policies are set out in note 33 to the consolidated financial statements.

Financial Performance

The Group’s financial performance was mainly driven by its marine transportation business.

Revenue

Revenue: US\$9,183,000 (2023: US\$8,512,000).

Profitability

Profit attributable to owners of the Company: US\$1,706,000 (2023: loss of US\$3,974,000).

Share Price Movement

The Company’s shares are listed on the Main Board of the Hong Kong Stock Exchange and secondarily listed on the Singapore Exchange Securities Trading Limited.

Investment Holding

The Group recorded no revenue (2023: US$63,000) but with a segment loss of US$389,000 (2023: US$1,146,000).

Disclaimer

This article is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase any securities of Courage Investment Group Limited.

No part of this article may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic or otherwise, without the prior written consent of the Company.

Disclaimer: This article is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase any securities of Courage Investment Group Limited. The information contained in this article is not intended to be a solicitation or recommendation to buy or sell any securities of the Company. Readers should not rely on this information as the sole basis for making any investment decisions.