Y Ventures 1F1
Financials
Annual Report 2025
Explore the statements
7 tablesConsolidated Statement of Profit or Loss and Other Comprehensive Income (Group)
18 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| RevenueUS$ | 17,901,278 | 23,536,571 | PDF p. 101 |
| Cost of salesUS$ | (10,241,298) | (13,897,455) | PDF p. 101 |
| Gross profitUS$ | 7,659,980 | 9,639,116 | PDF p. 101 |
| Other income | |||
| - OthersUS$ | 305,634 | 137,873 | PDF p. 101 |
| - Interest incomeUS$ | 28,100 | 34,726 | PDF p. 101 |
| Expenses | |||
| Selling and distribution expensesUS$ | (5,870,694) | (7,501,550) | PDF p. 101 |
| Administrative expensesUS$ | (2,657,250) | (2,702,816) | PDF p. 101 |
| Finance costsUS$ | (9,350) | (5,131) | PDF p. 101 |
| Income statement | |||
| Loss before taxUS$ | (543,580) | (397,782) | PDF p. 101 |
| Tax expenseUS$ | (1,962) | – | PDF p. 101 |
| Loss for the financial yearUS$ | (545,542) | (397,782) | PDF p. 101 |
| Other comprehensive income/(loss) | |||
| Currency translation differences arising on consolidationUS$ | 2,727 | (2,017) | PDF p. 101 |
| Total comprehensive loss for the financial yearUS$ | (542,815) | (399,799) | PDF p. 101 |
| Loss attributable to | |||
| Equity holders of the CompanyUS$ | (545,478) | (397,648) | PDF p. 101 |
| Non-controlling interestsUS$ | (64) | (134) | PDF p. 101 |
| Total comprehensive loss attributable to | |||
| Equity holders of the CompanyUS$ | (542,688) | (399,624) | PDF p. 101 |
| Non-controlling interestsUS$ | (127) | (175) | PDF p. 101 |
| Loss per share attributable to equity holders of the Company (cents per share) | |||
| Basic and dilutedcents per share | (0.11) | (0.10) | PDF p. 101 |
Definitions & sources
Original report: PDF p. 101 ↗
For the financial year ended 31 December 2025. Subtotal lines (loss attributable totals (545,542)/(397,782) and (542,815)/(399,799)) are unlabelled in source.
The accompanying notes form an integral part of these financial statements.
Statements of Financial Position (Group and Company)
25 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipmentUS$ | – | 1,155 | – | 1,155 | PDF p. 102 |
| Right-of-use assetsUS$ | 134,365 | 144,893 | 47,283 | 110,326 | PDF p. 102 |
| Investments in subsidiariesUS$ | – | – | 111,450 | 111,450 | PDF p. 102 |
| Total non-current assetsUS$ | 320,031 | 146,048 | 158,733 | 222,931 | PDF p. 102 |
| Current assets | |||||
| InventoriesUS$ | 13,774,704 | 19,524,906 | – | – | PDF p. 102 |
| Trade and other receivablesUS$ | 708,305 | 1,775,681 | 1,713,307 | 1,309,538 | PDF p. 102 |
| Cash and cash equivalentsUS$ | 745,718 | 1,664,622 | 333,368 | 930,873 | PDF p. 102 |
| Total current assetsUS$ | 15,228,727 | 22,965,209 | 2,046,675 | 2,240,411 | PDF p. 102 |
| Assets | |||||
| Total assetsUS$ | 15,548,758 | 23,111,257 | 2,205,408 | 2,463,342 | PDF p. 102 |
| Non-current liabilities | |||||
| BorrowingsUS$ | 61,330 | 76,233 | – | 48,030 | PDF p. 102 |
| Deferred tax liabilitiesUS$ | 30,686 | 30,686 | – | – | PDF p. 102 |
| Total non-current liabilitiesUS$ | 92,016 | 106,919 | – | 48,030 | PDF p. 102 |
| Current liabilities | |||||
| Trade and other payablesUS$ | 13,853,157 | 20,869,316 | 462,817 | 472,435 | PDF p. 102 |
| BorrowingsUS$ | 78,550 | 67,172 | 50,913 | 59,989 | PDF p. 102 |
| Tax payableUS$ | 190,374 | 190,374 | – | – | PDF p. 102 |
| Total current liabilitiesUS$ | 14,122,081 | 21,126,862 | 513,730 | 532,424 | PDF p. 102 |
| Liabilities | |||||
| Total liabilitiesUS$ | 14,214,097 | 21,233,781 | 513,730 | 580,454 | PDF p. 102 |
| Net assets | |||||
| Net assetsUS$ | 1,334,661 | 1,877,476 | 1,691,678 | 1,882,888 | PDF p. 102 |
| Equity | |||||
| Share capitalUS$ | 11,975,339 | 11,975,339 | 11,975,339 | 11,975,339 | PDF p. 102 |
| Currency translation reserveUS$ | 8,138 | 5,348 | – | – | PDF p. 102 |
| Accumulated lossesUS$ | (8,194,580) | (7,649,102) | (10,283,661) | (10,092,451) | PDF p. 102 |
| Merger reserveUS$ | (2,455,477) | (2,455,477) | – | – | PDF p. 102 |
| Equity attributable to equity holders of the Company, totalUS$ | 1,333,420 | 1,876,108 | 1,691,678 | 1,882,888 | PDF p. 102 |
| Non-controlling interestsUS$ | 1,241 | 1,368 | – | – | PDF p. 102 |
| Total equityUS$ | 1,334,661 | 1,877,476 | 1,691,678 | 1,882,888 | PDF p. 102 |
Definitions & sources
Original report: PDF p. 102 ↗
At 31 December 2025. The accompanying notes form an integral part of these financial statements.
Group 2024 Intangible assets cell is blank in the extracted text (not inferred); the row's label 'Equity attributable to equity holders of the Company, total' wraps across two lines, the quote covers the second line only.
Consolidated Statement of Profit or Loss and Other Comprehensive Income (Group)
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, US$ | 2024Group, US$ | Source |
|---|---|---|---|
| Other comprehensive income/(loss) | |||
| Currency translation differences arising on consolidationUS$ | 2,727 | (2,017) | PDF p. 101 |
| Total comprehensive loss for the financial yearUS$ | (542,815) | (399,799) | PDF p. 101 |
| Loss attributable to | |||
| Equity holders of the CompanyUS$ | (545,478) | (397,648) | PDF p. 101 |
| Non-controlling interestsUS$ | (64) | (134) | PDF p. 101 |
| Total comprehensive loss attributable to | |||
| Equity holders of the CompanyUS$ | (542,688) | (399,624) | PDF p. 101 |
| Non-controlling interestsUS$ | (127) | (175) | PDF p. 101 |
Definitions & sources
Original report: PDF p. 101 ↗
Only the comprehensive income-related rows were extracted in this scoped stage. Printed total under 'Loss attributable to' is (545,542) 2025 and (397,782) 2024.
Consolidated Statement of Cash Flows (Group)
34 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, US$ | 2024Group, US$ | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Loss before taxUS$ | (543,580) | (397,782) | PDF p. 105 |
| Adjustments for | |||
| Amortisation of intangible assetsUS$ | 3,926 | – | PDF p. 105 |
| Depreciation of property, plant and equipmentUS$ | 1,155 | 4,772 | PDF p. 105 |
| Depreciation of right-of-use assetsUS$ | 74,830 | 45,409 | PDF p. 105 |
| Property, plant and equipment written offUS$ | – | 1,775 | PDF p. 105 |
| Interest expenseUS$ | 9,350 | 5,131 | PDF p. 105 |
| Interest incomeUS$ | (28,100) | (34,726) | PDF p. 105 |
| Gain on lease terminationUS$ | – | (1,444) | PDF p. 105 |
| Gain on disposal of property, plant and equipmentUS$ | – | (15,326) | PDF p. 105 |
| Unrealised exchange loss/(gain)US$ | 2,004 | (1,332) | PDF p. 105 |
| Write-down of inventoriesUS$ | – | 44,000 | PDF p. 105 |
| Cash flows from operating activities | |||
| Operating cash flows before working capital changeUS$ | (480,415) | (349,523) | PDF p. 105 |
| InventoriesUS$ | 5,750,202 | (3,745,080) | PDF p. 105 |
| ReceivablesUS$ | 1,067,376 | 107,049 | PDF p. 105 |
| PayablesUS$ | (7,052,159) | 3,860,469 | PDF p. 105 |
| Currency translation adjustmentsUS$ | (17,480) | 8,339 | PDF p. 105 |
| Cash flows from operationsUS$ | (732,476) | (118,746) | PDF p. 105 |
| Income tax paidUS$ | (1,962) | – | PDF p. 105 |
| Interest receivedUS$ | 28,100 | 34,726 | PDF p. 105 |
| Net cash used in operating activitiesUS$ | (706,338) | (84,020) | PDF p. 105 |
| Cash flow from investing activities | |||
| Proceeds from disposal of property, plant and equipmentUS$ | – | 15,326 | PDF p. 106 |
| Purchases of intangible assets (Note 13)US$ | (153,592) | – | PDF p. 106 |
| Purchases of property, plant and equipmentUS$ | – | (2,956) | PDF p. 106 |
| Net cash (used in)/generated from investing activitiesUS$ | (153,592) | 12,370 | PDF p. 106 |
| Cash flow from financing activities | |||
| Proceed received from issuance of ordinary shares (Note 19)US$ | – | 771,175 | PDF p. 106 |
| Interest paid on lease liabilitiesUS$ | (9,350) | (5,131) | PDF p. 106 |
| Repayment of lease liabilitiesUS$ | (67,888) | (47,244) | PDF p. 106 |
| Net cash (used in)/generated from financing activitiesUS$ | (77,238) | 718,800 | PDF p. 106 |
| Net change in cash | |||
| Net (decrease)/increase in cash and cash equivalentsUS$ | (937,168) | 647,150 | PDF p. 106 |
| Cash and cash equivalents at beginning of the financial yearUS$ | 1,664,622 | 1,026,526 | PDF p. 106 |
| Effects of exchange rate changes on cash and cash equivalentsUS$ | 18,264 | (9,054) | PDF p. 106 |
| Cash and cash equivalents at end of the financial yearUS$ | 745,718 | 1,664,622 | PDF p. 106 |
| Cash and cash equivalents comprise | |||
| Cash at bank and in handUS$ | 682,109 | 1,657,160 | PDF p. 106 |
| Fixed depositUS$ | 63,609 | 7,462 | PDF p. 106 |
Definitions & sources
Original report: PDF p. 105 ↗ PDF p. 106 ↗
Statement spans physical pages 105 (operating) and 106 (investing, financing, closing cash). Subtotal 745,718 / 1,664,622 under 'Cash and cash equivalents comprise' is an unlabelled total row and is not separately listed.
Financial Review - Revenue breakdown (Group)
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group FY2025, US$ | 2024Group FY2024, US$ | Source |
|---|---|---|---|
| Revenue | |||
| Sales of GoodsUS$ | 17,431,124 | 23,015,065 | PDF p. 6 |
| Service IncomeUS$ | 470,154 | 521,506 | PDF p. 6 |
Definitions & sources
Original report: PDF p. 6 ↗
Narrative in the Financial Review (pages 6-7) gives other comparatives in text only (e.g. revenue US$17.90m vs US$23.54m; gross profit margin 42.8% vs 41.0%; working capital US$1.11m vs US$1.84m; shareholders' equity US$1.33m vs US$1.88m); these are not tabulated.
Note 10 Loss per share (Group)
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group FY2025 | 2024Group FY2024 | Source |
|---|---|---|---|
| Loss per share | |||
| Loss for the financial year attributable to equity holders of the Company (US$)US$ | (545,478) | (397,648) | PDF p. 117 |
| Weighted average number of ordinary sharesnumber of shares | 493,708,000 | 399,282,973 | PDF p. 117 |
| Loss per shares (US$ cents per share) | |||
| - Basic and dilutedUS$ cents per share | (0.11) | (0.10) | PDF p. 117 |
Definitions & sources
Original report: PDF p. 117 ↗
Diluted earnings per share is same as basic earnings per share as there were no potential dilutive ordinary shares for the financial years ended 31 December 2025 and 2024.
Loss per share in Consolidated Statement of Profit or Loss
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Loss per share attributable to equity holders of the Company (cents per share) | |||
| Basic and dilutedcents per share | (0.11) | (0.10) | PDF p. 101 |
Definitions & sources
Original report: PDF p. 101 ↗
Note reference 10 appears between label and values.
Where the money comes from
Segment information
By business
Segment information (1/2): revenue and results items by reportable segment 12 lines
| Item / unit | 2025E-commerce retail and distribution | 2024E-commerce retail and distribution | 2025Logistics and freight forwarding services | 2024Logistics and freight forwarding services | 2025Waste management services | 2024Waste management services | 2025Others | 2024Others | 2025Eliminations | 2024Eliminations | 2025Per consolidated financial statements | 2024Per consolidated financial statements | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||
| External customersUS$ | 17,431,124 | 23,015,065 | – | – | 470,154 | 521,506 | – | – | – | – | 17,901,278 | 23,536,571 | PDF p. 141 |
| Intersegment salesUS$ | – | – | – | – | – | 3,373 | – | – | – | (3,373) | – | – | PDF p. 141 |
| Total revenueUS$ | 17,431,124 | 23,015,065 | – | – | 470,154 | 524,879 | – | – | – | (3,373) | 17,901,278 | 23,536,571 | PDF p. 141 |
| Results | |||||||||||||
| Segment loss before significant non-cash itemsUS$ | (152,315) | 42,698 | (10,691) | (5,105) | (12,303) | 12,497 | (307,110) | (396,837) | – | – | (482,419) | (346,747) | PDF p. 141 |
| DepreciationUS$ | (3,464) | (1,619) | – | – | (8,322) | (26,868) | (64,199) | (21,694) | – | – | (75,985) | (50,181) | PDF p. 141 |
| AmortisationUS$ | (3,926) | – | – | – | – | – | – | – | – | – | (3,926) | – | PDF p. 141 |
| Impairment losses/write offsUS$ | – | – | – | – | – | – | – | – | – | – | – | – | PDF p. 141 |
| Property, plant and equipment written offUS$ | – | (1,775) | – | – | – | – | – | – | – | – | – | (1,775) | PDF p. 141 |
| Gain on disposal on property, plant and equipmentUS$ | – | – | – | 2,990 | – | 12,336 | – | – | – | – | – | 15,326 | PDF p. 141 |
| Write-down of inventoriesUS$ | – | (44,000) | – | – | – | – | – | – | – | – | – | (44,000) | PDF p. 141 |
| Interest incomeUS$ | 8,932 | 17,360 | – | – | – | – | 19,168 | 17,366 | – | – | 28,100 | 34,726 | PDF p. 141 |
| Finance costsUS$ | (770) | – | – | – | (2,512) | (2,625) | (6,068) | (2,506) | – | – | (9,350) | (5,131) | PDF p. 141 |
Notes
Note 25 Segment information. Segment information provided to management for the reportable segments; all amounts in US$ as printed in column headers.
Inter-segment revenue are eliminated on consolidation.
Others segment included unallocated expenses from investment holding company.
Segment information (2/2, cont'd): loss, assets, liabilities and additions to non-current assets by reportable segment 6 lines
| Item / unit | 2025E-commerce retail and distribution | 2024E-commerce retail and distribution | 2025Logistics and freight forwarding services | 2024Logistics and freight forwarding services | 2025Waste management services | 2024Waste management services | 2025Others | 2024Others | 2025Eliminations | 2024Eliminations | 2025Per consolidated financial statements | 2024Per consolidated financial statements | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Results | |||||||||||||
| Segment loss before taxUS$ | (151,543) | 12,664 | (10,691) | (2,115) | (23,137) | (4,660) | (358,209) | (403,671) | – | – | (543,580) | (397,782) | PDF p. 142 |
| Income tax expenseUS$ | (1,962) | – | – | – | – | – | – | – | – | – | (1,962) | – | PDF p. 142 |
| Segment lossUS$ | (149,581) | 12,664 | (10,691) | (2,115) | (23,137) | (4,660) | (358,209) | (403,671) | – | – | (545,542) | (397,782) | PDF p. 142 |
| Assets | |||||||||||||
| Segment assetsUS$ | 14,992,070 | 21,844,617 | 9,523 | 11,298 | 98,562 | 91,476 | 448,603 | 1,163,866 | – | – | 15,548,758 | 23,111,257 | PDF p. 142 |
| Liabilities | |||||||||||||
| Segment liabilitiesUS$ | 13,556,258 | 20,526,901 | 11,700 | 4,840 | 82,739 | 68,139 | 342,340 | 412,841 | – | – | 13,993,037 | 21,012,721 | PDF p. 142 |
| Capital expenditure | |||||||||||||
| Additions to non-current assetsUS$ | 251,951 | – | – | – | – | 40,626 | – | 129,043 | – | – | 251,951 | 169,669 | PDF p. 142 |
Notes
Unallocated liabilities and Total liabilities are printed only in the Per consolidated financial statements columns; other columns are empty strings (not printed).
All liabilities are allocated to reportable segments other than deferred tax liabilities and tax payable, which are classified as unallocated liabilities.
Income taxes are managed on a Group basis and are not allocated to operating segments.
Inter-segment assets and liabilities are eliminated to arrive at the total assets and liabilities reported in the consolidated statements of financial position.
Debt
Borrowings
Maturity profile of financial liabilities - lease liabilities (contractual undiscounted)
| Item / unit | 2025Repayable on demand or within 1 year | 2025Within 2 to 5 years | 2025Total | Source |
|---|---|---|---|---|
| Group At 31 December 2025 | ||||
| Lease liabilitiesUS$ | 85,930 | 66,270 | 152,200 | PDF p. 139 |
| Group At 31 December 2024 (columns: within 1 year, 2 to 5 years, total) | ||||
| Lease liabilitiesUS$ | 79,124 | 93,102 | 172,226 | PDF p. 139 |
| Company At 31 December 2025 (columns: within 1 year, 2 to 5 years, total) | ||||
| Lease liabilitiesUS$ | 52,556 | – | 52,556 | PDF p. 139 |
| Company At 31 December 2024 (columns: within 1 year, 2 to 5 years, total) | ||||
| Lease liabilitiesUS$ | 66,057 | 49,542 | 115,599 | PDF p. 139 |
Notes
Rows for 2024 and Company are labelled by section; column order is Repayable on demand or within 1 year, Within 2 to 5 years, Total. Based on contractual undiscounted repayment obligations. No after-5-years column printed.
Borrowing notes 2 tables
Borrowings (lease liabilities), current and non-current
| Item / unit | 2025Group US$ | 2024Group US$ | 2025Company US$ | 2024Company US$ | Source |
|---|---|---|---|---|---|
| Non-current | |||||
| Lease liabilitiesUS$ | 61,330 | 76,233 | – | 48,030 | PDF p. 126 |
| Current | |||||
| Lease liabilitiesUS$ | 78,550 | 67,172 | 50,913 | 59,989 | PDF p. 126 |
| Total borrowings | |||||
| At 31 DecemberUS$ | 139,880 | 143,405 | 50,913 | 108,019 | PDF p. 126 |
Notes
Borrowings comprise only lease liabilities; no secured/unsecured bank borrowings or interest rate ranges disclosed. Group has no borrowings at variable rates (p.132).
Borrowings denominated in foreign currencies
| Item / unit | 2025Group SGD US$ | 2025Group GBP US$ | 2024Group SGD US$ | 2024Group GBP US$ | Source |
|---|---|---|---|---|---|
| Group | |||||
| BorrowingsUS$ | (80,810) | – | (108,019) | – | PDF p. 131 |
Notes
Company borrowings in SGD: (50,913) 2025 and (108,019) 2024, GBP nil (–).
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Provision 11.6 | The Company does not have a fixed dividend policy at present. The issue of payment of dividends is deliberated by the Board annually, having regards to various factors (e.g. Company’s profit, cash flow, capital requirements for investment and growth, general business conditions and other factors as the Board deems appropriate). | Company, FY2025 | PDF p. 37 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend for FY2025 | the Board has decide not to declare or recommend any dividend for FY2025 to conserve cash for working capital requirements and future operations. | Company, FY2025 | PDF p. 37 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Independent auditor | Baker Tilly TFW LLP | Group | PDF p. 100 |
| Engagement partner | Guo Shuqi | Group | PDF p. 100 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Valuation of inventories at the lower of costs and net realisable value | We identified the valuation of book inventories as a key audit matter due to the significant judgement required by management in assessing NRV | Group | PDF p. 98 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern assumption | The Group’s ability to continue as a going concern is dependent upon the Group’s ability to maintain its credit facilities and credit terms. | Group | PDF p. 112 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.