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1、F-1/A 1 ea0224735-f1a4_concorde.htm 表格 F-1 第 4 号修正案截至 2024 年 12 月 17 日向美国证券交易委员会提交的文件。注册号 333-281799 美国证券交易委员会华盛顿特区 20549 第四号修正案1933 年证券法规定的F-1 表格注册声明 CONCORDE INTERNATIONAL GROUP LTD（注册人的名称准确如其章程所规定）不适用（注册人姓名翻译成英文）英属维尔京群岛 7381 不适用（注册或组织所在州或其他司法管辖区）（初级标准行业分类代码编号）（国税局雇主识别号）3 Ang Mo Kio Street 62,#01-
2、49 LINKAMK新加坡 569139+65 2960802（注册人主要执行办公室的地址（包括邮政编码）和电话号码（包括区号）Cogency Global Inc.纽约州纽约市东 42 街 122号18楼10168(800)221-0102（服务代理人的姓名、地址（包括邮政编码）和电话号码（包括区号）抄送：Louis A.Bevilacqua，Esq.Bevilacqua PLLC 巴里I格罗斯曼先生Lijia Sanchez 律师2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1
3、a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm1/3781050 Connecticut Avenue,NW,Suite 500Washington,DC 20036(202)869-0888埃伦诺夫格罗斯曼和舒尔律师事务所美洲大道 1345 号纽约，纽约 10105(212)370-1300 拟向公众出售的开始大致日期：本注册声明生效后尽快。如果根据 1933 年证券法第 415 条的规定，本表格上登记的任何证券将以延迟或连
4、续方式发行，请勾选以下方框。如果根据证券法第 462(b)条提交此表格以注册发行的额外证券，请勾选以下方框并列出同一发行的先前生效的注册声明的证券法注册声明编号。如果本表格是根据证券法第 462(c)条提交的生效后修订，请勾选以下方框并列出同一发行的较早生效注册声明的证券法注册声明编号。如果本表格是根据证券法第 462(d)条提交的生效后修订，请勾选以下方框并列出同一发行的较早生效的注册声明的证券法注册声明编号。请勾选表明注册人是否为 1933 年证券法第 405 条定义的新兴成长型公司。新兴成长型公司如果新兴成长型公司按照美国公认会计准则编制财务报表，请勾选表明注册人是否选择不使用延长的过渡
5、期来遵守证券法第 7(a)(2)(B)条规定的任何新的或修订的财务会计准则。“新的或修订的财务会计准则”是指财务会计准则委员会于 2012 年 4 月 5 日之后对其会计准则编纂发布的任何更新。注册人特此在必要的日期修改本注册声明，以延迟其生效日期，直至注册人提交进一步的修订，其中明确规定本注册声明随后将根据证券法第 8(a)条生效，或直至证券交易委员会根据上述第 8(a)条采取行动确定的日期生效。2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhtt
6、ps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm2/378 本招股说明书中的信息并不完整，可能会发生变化。在向美国证券交易委员会提交的注册声明生效之前，不得出售这些证券。本初步招股说明书并非出售这些证券的要约，也不构成在不允许要约或出售的任何州招揽购买这些证券的要约。初步招股说明书 有待完成 日期：2024 年 12 月 17 日5,000,000 美元 A 类普通股 协和国际集团有限公司 这是我们 A 类普通股的首次公开发行，每股面值 0.00001 美元。我们
7、预计首次公开发行价格为 4.00 美元。我们将发行 1,250,000 股 A 类普通股，假设预计首次公开发行价格为每股 4.00 美元。目前，我们的 A 类普通股尚未上市。我们计划申请在纳斯达克资本市场上市，交易代码为“CIGL”。除非纳斯达克资本市场批准我们的 A 类普通股上市，否则我们不会结束此次发行。我们有两类授权普通股，即 A 类普通股和 B 类普通股。除投票和转换外，A 类普通股和 B 类普通股持有人的权利相同。除非法律另有禁止，A 类普通股通常与 B 类普通股作为一个团体一起投票。每股 A 类普通股有一票表决权。每股 B 类普通股有一百票表决权，可转换为一股 A 类普通股。截至本
8、招股说明书之日，我们的创始人，即我们已发行的 B类普通股的持有人，持有我们已发行股本的 100%表决权，因此是我们的控股股东。本次发行后，考虑到预计将在此发行的 A 类普通股，即使 100%的此类股份被出售，我们的首席执行官仍将保留对公司的控制性表决权，因为他拥有约 97.57%的所有表决权。我们是 2012 年创业企业融资法案中使用的“新兴成长型公司”，因此，我们选择遵守本招股说明书和未来文件中某些简化的上市公司报告要求。请参阅“招股说明书摘要成为新兴成长型公司的含义”。根据美国联邦证券法的定义，我们是一家“外国私人发行人”，因此，我们可选择遵守某些减少的上市公司报告要求，以备将来的申报。请
9、参阅“招股说明书摘要成为外国私人发行人的影响”。我们预计在本次发行完成后，将立即成为纳斯达克资本市场规则下的“受控公司”，并预计将享受纳斯达克资本市场规则赋予“受控公司”的公司治理豁免。请参阅“风险因素与本次发行和我们 A 类普通股所有权相关的风险”。如果我们获准在纳斯达克资本市场上市我们的 A 类普通股，我们将成为纳斯达克上市规则定义的“受控公司”，因为发行后，我们 50%以上的投票权将由 Swee Kheng Chua 先生持有。作为“受控公司”，我们根据纳斯达克上市规则可免于遵守某些公司治理要求。因此，您可能无法获得与受纳斯达克资本市场所有公司治理要求约束的公司股东相同的保护。请参阅“招
10、股说明书摘要成为受控公司的含义”。投资我们的 A 类普通股涉及高风险。请参阅本招股说明书第 13 页开始的“风险因素”，了解有关投资我们的 A 类普通股时应考虑的信息的讨论。美国证券交易委员会或任何州证券委员会均未批准或否决这些证券，也未确定本招股说明书是否真实或完整。任何相反的陈述均属刑事犯罪。每股 全部的 首次公开募股价格$承保折扣及佣金（1）$扣除费用前我们的收益$（1）我们已同意向承销商支付相当于此次发行总收益 7.5%的折扣。承销折扣和佣金不包括支付给承销商的相当于首次公开发行价格 1%的非可报销费用津贴。对于支付给承销商的其他费用和开支，请参阅第 103 页开始的“承销”，了解有关
11、承销商报酬的更多信息。2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm3/378 我们已向承销商代表授予一份为期 45 天的期权，以公开发行价减去承销折扣和佣金的价格购买最多额外的 A 类普通股。承销商预计将于 2024 年左右向购买者交付 A 类普通股。本招股说明书的
12、日期为 2024 年 2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm4/378 目录 页招股说明书摘要 1合并财务信息摘要 12风险因素 十三关于前瞻性陈述的特别说明 31收益用途 三十二股息政策 33大写 三十四稀释 三十五管理层对财务状况和经营成果的讨论与分析 三
13、十六公司历史和结构 60行业 62商业 63我们行业的规定 71管理 73主要股东 80关联交易 81股本情况 83未来可出售的股票 95美国、英属维尔京群岛和新加坡所得税的重要考虑因素 96民事责任的可执行性 102承保 103与本次发行相关的费用 112法律事务 113专家 113在哪里可以找到更多信息 113财务报表 F-1 您应仅依赖本招股说明书或我们授权向您交付或提供的任何自由撰写的招股说明书中包含的信息。我们和承销商均未授权任何人向您提供不同的信息。本招股说明书中的信息仅在本招股说明书发布之日准确无误，无论本招股说明书或任何自由撰写的招股说明书（视情况而定）的交付时间如何，或任何
14、A 类普通股的出售时间如何。对于美国境外的投资者：我们或承销商均未采取任何行动允许在美国以外的任何需要采取行动的司法管辖区内进行本次发行或持有或分发本招股说明书。获得本招股说明书的美国境外人士必须了解并遵守与在美国境外发行 A 类普通股和分发本招股说明书有关的任何限制。本招股说明书包含我们从行业出版物和第三方进行的研究、调查和研究中获得的统计和其他行业和市场数据。行业出版物和第三方研究、调查和研究通常表明其信息来自我们认为可靠的来源，尽管它们不保证此类信息的准确性或完整性。虽然我们相信这些行业出版物和第三方研究、调查和研究是可靠的，但请注意不要过分重视这些信息。我2025/1/8 15:19s
15、ec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm5/378 常用定义术语 除非上下文另有说明，并且仅为了本招股说明书的目的，本招股说明书中引用以下内容：“我们”、“我们”、“公司”、“我们的”或“我们的公司”是指 Concorde International Group Ltd 的合并业务，该公司是
16、一家于 2023 年 5 月 2 日注册成立的英属维尔京群岛（“BVI”）商业公司，及其合并子公司；“Concorde International”指的是 Concorde International Group Ltd，该公司是一家根据英属维尔京群岛商业公司法（经修订）（“英属维尔京群岛法”）于2023 年 5 月 2 日在英属维尔京群岛注册成立的控股公司；“协和新加坡”是指协和国际全资拥有的子公司协和国际集团私人有限公司，该公司于 2023 年 6 月 12 日在新加坡成立；“Concorde Security Singapore”指的是 Concorde Singapore 持有 96.
17、81%股份的子公司 Concorde Security Pte Ltd，该公司于 2005 年 6 月 16 日在新加坡成立；“Concorde Security Malaysia”指的是 Concorde Singapore 的全资子公司 Concorde Security Sdn Bhd，该公司于 2015 年 1 月 13 日在马来西亚成立；“Concorde UK”指的是 Concorde Singapore 的全资子公司 Concorde Security Limited，该公司是一家于 2016 年 12 月 23 日在英国注册成立的私人股份有限公司；“协和亚洲”是指协和新加坡间接
18、拥有 70%股权的子公司协和亚洲私人有限公司，该公司于 2013 年 10 月 8 日在新加坡成立；“成功学院”是指协和新加坡间接拥有 70%股权的子公司成功学院私人有限公司(Berjaya Academy Pte Ltd)，该公司于 2020 年 3 月 6 日在新加坡成立；“Concorde i-Fast US”指的是 Concorde Singapore 的全资子公司 Concorde i-FAST USA Inc.，该公司于 2024 年 4 月 25 日在德克萨斯州成立；“美元”、“美元”、“USD”或“$”是美国法定货币。我们的报告货币为美元。Concorde Internatio
19、nal 是一家控股公司，自身没有业务。所有业务均通过 Concorde International 在新加坡的运营子公司 Concorde Singapore在新加坡开展。Concorde Singapore 的功能货币为当地货币（新加坡元），因为它是公司开展业务的主要经济环境的货币记账单位。公司海外业务的所有资产和负债均按期末的现行汇率折算，收入和费用按期间内的平均汇率折算。将外币金融交易折算为美元所产生的收益或损失反映为外币累计折算调整，并作为累计其他综合收益（损失）的一部分报告。由功能货币以外的货币计价的交易产生或预计产生的外币交易收益和损失在损益表中确认为其他收益（费用）净额。我们的财
20、政年度结束于 12 月 31 日。对特定“财政年度”的引用是指我们截至该日历年 12 月 31 日的财政年度。我们的合并财务报表是根据国际财务报告准则(IFRS)编制的。本招股说明书包含我们从行业出版物和第三方进行的研究、调查和研究中获得的统计和其他行业和市场数据。行业出版物和第三方研究、调查和研究通常表明其信息来自我们认为可靠的来源，尽管它们不保证此类信息的准确性或完整性。虽然我们相信这些行业出版物和第三方研究、调查和研究是可靠的，但请注意不要过分重视这些信息。我们对本招股说明书中使用的对我们的业务至关重要的商标拥有专有权。仅为方便起见，本招股说明书中提及的商标、服务标记和商品名称均未标有、
21、和其他类似符号，但此类提及并非旨在以任何方式表明我们不会在适用法律的最大范围内主张我们或适用许可方对这些商标、服务标记和商品名称的权利。本招股说明书可能包含其他公司的商标、服务标记和商品名称。据我们所知，本招股说明书中出现的所有商标、服务标记和商品名称均为其各自所有者的财产。我们无意使用或展示其他公司的商标、服务标记或商品名称来暗示我们与任何其他人之间存在关系或得到任何其他人的认可或赞助。2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/w
22、ww.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm6/378二2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm7/378 招股说明书摘要 本摘要重点介
23、绍了本招股说明书其他部分所含的选定信息。本摘要并不完整，并不包含您在决定是否投资我们的 A 类普通股之前应考虑的所有信息。在做出投资决定之前，您应该仔细阅读整个招股说明书，包括本招股说明书“风险因素”部分讨论的与投资我们公司相关的风险。本招股说明书中的某些陈述是前瞻性陈述。请参阅标题为“关于前瞻性陈述的警告声明”的部分。在本招股说明书中，“我们”、“我们”、“我们的”、“我们的公司”、“集团”、“协和国际”以及类似的提及均指协和国际集团有限公司及其合并子公司。我们的公司 概述 协和国际集团有限公司是一家综合安全服务提供商，结合人力和创新技术，提供有效的安全解决方案。2014 年，我们荣获新加坡
24、制造商联合会颁发的“商业模式创新奖”。2015年，我们荣获新加坡资讯通信技术联合会(SiTF)颁发的“最佳创新资讯通信技术应用奖”。2016 年，我们荣获新加坡资讯通信媒体发展局(IMDA，前身为资讯通信发展局)和 SiTF颁发的“最具创新性资讯通信技术应用奖（私营部门中小企业）”。2017 年，我们荣获世界知识产权组织 新加坡知识产权局(WIPO-IPOS)颁发的“知识产权奖”。此外，2017年，新加坡南洋理工大学通过其南洋科技创业中心将我们的创新解决方案作为案例研究发布，题为“协和安保私人有限公司的转型”，以表彰我们的创新解决方案。同年，新加坡管理大学和哈佛商业教育出版公司也认可了我们的创
25、新，发表了一篇题为“主要案例：颠覆性创新者的韧性：Concorde Security”的案例研究。2018 年至 2019 年，为了表彰我们在行业转型方面的解决方案，IMDA 在新加坡政府的行业转型地图试点计划中批准了我们的解决方案。2020 年至 2021 年，为了表彰我们的技术和解决方案，我们被 IMDA 列入安全类别下的“预先批准的 IT 解决方案供应商”。2022 年至 2023 年，为了表彰我们的技术解决方案，IMDA 在新加坡政府的中小企业数字化计划下的高级数字解决方案(ADS)中批准了我们的解决方案。凭借这些奖项和认可，我们相信我们是新加坡领先的解决方案提供商之一。通过集成我们的
26、专利技术解决方案，我们帮助客户降低成本并增强安全性。自 1997 年在新加坡成立以来，我们通过持续提供高质量的安保人力，在专业安保界建立了良好的声誉。2014 年，我们认识到了不断发展的社会中人力的可持续性，决定利用创新的商业模式转型为一家安保解决方案服务公司。凭借我们专利的技术创新，我们可以提供更高水平的安保性能，同时减少人员需求。传统上，24 小时轮班需要至少三名保安人员来覆盖。我们的解决方案包括在客户场所部署闭路电视摄像机、传感器和其他物联网设备，以实现远程访问控制监控和管理。这些设备通过我们的移动指挥车进行集成和控制，这些指挥车被称为“I-Man 设施短跑者(IFS)”，可在规定半径范
27、围内巡逻一组客户站点。这种主动方法可以快速响应任何发生的事件。因此，由于这些技术的有效利用，我们的客户所需的现场保安人员从三人减少到两人甚至更少。闭路电视摄像机、传感器和其他物联网设备的实施不仅最大限度地减少了人为错误，而且也减少了对额外人员的总体需求。我们负责操作 IFS 的专家接受了严格的培训，能够有效地处理各种技术并熟练地应对各种情况。这种方法不仅提高了他们的技能，还有助于我们团队成员更好地平衡工作与生活。因此，我们在新加坡获得了无数奖项，以表彰我们的创新技术和我们为生产下一代可靠安全解决方案所做的贡献。凭借我们专利的技术应用和开创性的解决方案，我们为新加坡的商业、金融、工业和政府客户提
28、供一流的安全和设施管理服务。12025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm8/378 我们提供一系列服务以增强安全性：(1)智能守卫服务；(2)人工守卫服务；(3)咨询和培训服务。我们的智能守卫服务利用技术提高效率，采用移动平台和高技能劳动力集群聚合模型。截至 20
29、24 年 6 月 30 日和 2023 年 6 月 30 日的六个月，我们的智能守卫服务分别占我们合并收入的 96.75%和 98.66%。截至 2023 年 12 月 31 日和 2022 年 12 月 31 日的财政年度，我们的智能守卫服务分别占我们合并收入的约 98.09%和 99.09%。人工守卫服务雇用经过培训的保安人员来维护安全并阻止非法活动。截至 2024 年 6 月 30 日和 2023 年6 月 30 日的六个月内，我们的人身保护服务分别占我们合并收入的 0.82%和 1.22%。截至 2023 年 12 月 31 日和 2022 年 12 月 31 日的财政年度，它分别占我
30、们合并收入的 1.41%和 0.24%。咨询和培训服务根据客户需求提供定制的专家指导。截至 2024 年 6 月 30 日和 2023 年 6 月 30 日的六个月内，我们的咨询和培训服务分别占我们合并收入的 0.59%和0.12%。截至 2023 年 12 月 31 日和 2022 年 12 月 31 日的财政年度，它分别占我们合并收入的 0.50%和 0.67%。截至 2024 年 6 月 30 日止六个月，来自其他业务的收入占我们综合收入的 1.84%，该收入与一次性销售安全耗材有关。截至 2023 年 12 月 31 日和 2022 年 12 月 31 日止财政年度，并无此类销售。我们
31、在物业、资产和建筑服务系统集成监控方面的颠覆性创新获得了认可。这确保了全天候监控，确保了完全的安全和运营效率。这一成就得益于我们的智能安全解决方案套件，即“I-Guarding Services”。我们的旗舰服务之一，开创性的“I-Man Facility Sprinter(“IFS”)”是一个移动车辆平台，彻底改变了安全和设施维护服务。这些开创性的解决方案不仅改善了工人的薪酬、技能组合和工作条件，还重新定义了行业的整体业务格局。我们公司的第二款旗舰产品是“智能设施认证器(IFA)”。IFA 是一种创新解决方案，利用先进的自助服务终端技术来增强安全性并简化访客管理。为了应对人力有限和成本上升的
32、挑战，IFA 系统自动发放安全通行证和门禁卡，无需人工干预。它的工作原理是向访客发送安全通行证图标，在进入时验证其身份，并发放具有不同安全级别权限的门禁卡。这项技术不仅增强了建筑物内的安全性，而且还提供了高效的访客管理服务，使其成为自助服务终端采用率不断提高的行业的游戏规则改变者。最终，IFA 代表了安全访问控制的重大进步，无需依赖人工干预。截至 2024 年 6 月 30 日和 2023 年 6 月 30 日的六个月内，我们分别有超过 83%和 98.73%的收入来自年度经常性合同。截至 2023 年 12 月 31 日和 2022 年 12 月 31 日的财政年度，我们分别有超过 96%和
33、 85%的收入来自年度经常性合同。我们 99%的客户位于新加坡。截至 2024 年 6 月 30 日的六个月内，我们最大的两个客户，One Tampines Hub 人民协会和 OnePunggol 人民协会分别占我们总收入的约 6%和 6%。截至 2023 年 6 月 30 日的六个月内，我们最大的两个客户，新加坡科技设计大学和 OnePunggol 人民协会分别占我们总收入的约 10%和 8%。截至 2023 年 12 月 31 日止财政年度，我们由年度经常性合同产生的收入从 2022 财年的 85%增长 11%至 2023 财年的 96%，因为我们继续专注于获得经常性合同以确保长期财务稳
34、定和增长。截至 2023 年 12 月 31 日止财政年度，我们的两大客户新加坡科技设计大学和 OnePunggol 人民协会分别占我们总收入的约 8%和 7%。截至 2022 年 12 月 31 日止财政年度，我们的两大客户 Ceva Logistics Singapore Pte Ltd 和 JTC Corporation 分别占我们总收入的约 10%和 10%。请参阅“风险因素与我们的业务和行业相关的风险我们的很大一部分收入来自我们现有的长期客户；因此，我们无法保留和维持与现有客户的良好关系可能会对我们的业务和财务业绩产生重大不利影响。”和“风险因素与我们的业务和行业相关的风险我们的客户
35、集中度很高，有限数量的客户占了我们近期收入的很大一部分。”我们的产品和服务 保安服务 在传统的安保部署中，每栋建筑或地点每班至少雇用一名保安。每 24 小时班次至少需要三名保安驻守在建筑或地点。传统的安保部署完全基于人力，面临几个关键挑战：(i)由于人性，保安不可靠，因为保安经常在值班时睡着，尤其是在夜班；(ii)保安人员短缺；(iii)劳动力成本上升。我们的 i-Guarding 服务解决了这些问题，并改善了保安的工作与生活平衡。根据图表，我们的 i-Guarding 服务包括一辆移动监控和响应车辆（称为 IFS），它在指定半径内巡逻，在 24 小时内覆盖众多建筑物或地点。每栋建筑或地点都安
36、装了电子安全系统，包括可与我们的 IFS 集成的门禁系统、安全监控摄像头和传感器。因此，无需在每个地点部署警卫，就可以使用这些电子安全系统。这些系统通过现有的电信基础设施连接到我们的 IFS，包括超级 Wifi、4G 或 5G 网络。如果触发警报，IFS 将立即通过车辆内的远程指挥中心做出响应，并在需要时提供现场响应。因此，客户可以减少对人力警卫的依赖。2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archive
37、s/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm9/37822025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm10/378 每个 IFS 将由 3 名 I 专家操作。其中包括一名司机和两
38、名安全技术人员。每个 IFS 可以监控和管理部署半径内的至少 15 栋建筑或位置。这提高了人力效率，并提高了服务水平，因为传统安全部署模型导致的人为错误减少了。我们的安装和维护技术人员以及我们的客户服务代表致力于提供高质量的客户服务体验。这一承诺提升了我们的品牌，提高了客户满意度，增加了客户保留率，并加速了采用其他交互式自动化解决方案。集群聚合模型允许由 3 名安全官员组成的团队（其中一名接受过技术培训）监督 15 分钟半径范围内 5、10 到 15 个场所的场所集群。截至 2024 年 6 月 30 日和 2023 年 6 月 30 日的六个月内，我们的 i-Guarding 服务分别占我们
39、合并收入的 96.75%和 98.66%。截至 2023 年 12 月 31 日和 2022 年 12 月 31 日的财政年度，我们的 i-Guarding 服务分别占我们合并收入的约 98.09%和 99.09%。它还包括设计、实施和安装安全系统，以保护实物资产和人员免受潜在威胁和漏洞的影响。这包括IFA、访客管理系统（“VMS”）、钥匙管理系统（“KMS”）、安全旋转门设施、物联网（“IoT”）设备和其他智能安全解决方案。它涉及风险的战略评估、适当安全措施的选择和部署以及持续维护和监控协议的建立。这种综合方法可确保相关环境或基础设施的安全性和完整性，包括监控系统、访问控制和警报系统等物理安
40、全元素。安全项目和安装的最终目标是降低风险并防止未经授权的访问、盗窃和其他安全威胁。保安服务 我们的人员看守服务为各种客户和财产提供了至关重要的保护。我们的安保人员经过专业培训，在维护安全的同时防止特定区域内未经授权的访问或非法活动方面发挥着关键作用。他们提供预防、威慑和响应相结合的措施，以维护安全的环境，使他们成为整体安全措施不可或缺的一部分。这项服务不涉及技术应用或解决方案。服务合同按年签订，收入按月收取和确认。截至 2024 年 6 月 30 日和 2023 年 6 月 30 日的六个月内，我们的 Man-Guarding 服务分别占我们合并收入的 0.82%和 1.22%。截至 202
41、3 年 12 月 31 日和 2022 年 12 月 31 日的财政年度，我们的 Man-Guarding 服务分别占我们总收入的约 1.41%和 0.24%。咨询及培训服务 咨询和培训服务为寻求增强安全知识领域的客户提供专家指导和培训支持。该服务专为满足客户需求而设计。2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea
42、0224735-f1a4_concorde.htm11/378截至 2024 年 6 月 30 日和 2023 年 6 月 30 日的六个月内，我们的咨询和培训服务分别占我们合并收入的 0.59%和 0.12%。截至 2023 年 12 月 31 日和 2022 年 12 月 31 日的财政年度，我们的咨询和培训服务分别占我们总收入的约 0.50%和 0.67%。32025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/A
43、rchives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm12/378 我们的增长战略 我们相信，实施以下增长战略将继续使我们的公司成为我们所服务市场的领导者：继续发展我们的经常性收入业务。截至 2024 年 6 月 30 日和 2023 年 6 月 30 日的六个月内，我们的经常性收入分别约占我们总收入的 83%和 98.73%。截至 2023 年 12月 31 日和 2022 年 12 月 31 日的财政年度，我们的经常性收入分别约占我们总收入的 96%和 85%。每月经常性收入使我们能够实现更稳定和可
44、预测的收入流。此外，随着我 们继续推出更多 i-Guarding 服务，它应该会提高我们的盈利能力。在 I-Guarding 下部署的每个建筑物或地点都代表增量收入，其成本水平几乎与一个 IFS 可以为至少15 个或更多建筑物或地点提供服务的成本水平相同。与新客户相比，为我们的经常性客户提供服务所需的获取和营销成本应该更低。因此，签约更多建筑物或地点将带来收入和盈利能力的提高。我们认为我们的服务具有巨大的市场机会，因为我们的目标市场的客户更喜欢外包安全和设施管理服务，这些服务提供实时安全监控，以提供持续保护并快速响应安全漏洞和火灾警报。我们打算通过开发新的创新产品并继续积极的销售和营销努力来继
45、续寻求经常性收入的机会。为了扩大规模，我们将不得不继续在营销和开发上投入资金。因此，这可能会影响我们的整体盈利能力。坚持提供一流客户服务的承诺。我们致力于培养一种致力于为广大客户提供行业领先客户服务的文化。我们通过新加坡的 5 个集群指挥中心开展运营。通过这些移动位置，我们的团队提供监控安全、交互式住宅和商业自动化解决方案，包括安装、现场服务、维修、持续监控和客户支持。我们的安装和服务技术人员以及我们的客户服务代表致力于提供高质量的客户服务体验。这一承诺提升了我们的品牌，提高了客户满意度，增加了客户保留率，并加速了采用其他交互式自动化解决方案。因此，它推动了新客户获取支出的回报并提高了现金流的
46、产生。我们为在安全警报发出后 15 分钟内为大多数客户提供现场响应而感到自豪。保持我们的优质客户群。我们认为，客户保留也与客户的信用质量密切相关。我们计划继续关注严格的承保标准，并将建立流程来评估潜在新客户的信用度，以改善我们的客户选择或要求高风险客户预付款。我们预计，我们对产生优质客户的关注将继续带来具有吸引力信用评分的客户组合，从而提高保留率，降低信用风险敞口，并产生强大的长期客户组合，从而产生强劲的新客户获取支出回报并推动强劲的现金流产生。将我们受专利保护的解决方案在新加坡以外地区稳步扩张。我们坚信，由于劳动力成本不断上涨，以及对高质量安全和设施管理服务的需求不断增长，我们的解决方案将面
47、临巨大的需求。我们的计划是在未来 24 个月内扩大我们的地理覆盖范围，并将我们成功的商业模式推广到新加坡以外。我们的目标是通过与当地安全服务提供商合作，将业务扩展到马来西亚、澳大利亚和北美市场，这些供应商已经拥有现有的客户群，需要我们的解决方案来改善服务交付并降低不断增长的劳动力成本。我们尚未与任何合作伙伴签约，但我们的目标是根据以下计划与他们建立合作伙伴关系。我们的业务计划可能会根据全球经济的变化和其他可能影响我们业务运营的因素而发生变化。市场 时间线 预估费用 资金来源马来西亚 到 2024 年第四季度 50万美元 内部现金流北美 到 2025 年第三季度 50万美元 内部现金流澳大利亚
48、到 2026 年第二季度 50万美元 内部现金流 42025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm13/378 我们的竞争优势 我们相信，以下竞争优势有助于我们取得成功，并使我们区别于竞争对手：经过验证的解决方案，受专利保护。我们的专利保护解决方案已被证明可以减少对人
49、力的需求，同时保持甚至提高安全和设施管理的服务质量水平。一流的客户服务。我们不单纯地在价格上竞争，而是注重服务质量，我们认为优质的客户服务是我们的服务特色。深厚的行业知识和经验。我们相信，我们对安全和保障的关注，加上我们的销售顾问、通过我们受专利保护的业务模式（通过我们的 cluster 移动指挥中心）、我们可靠的产品解决方案以及我们高度熟练的安装和服务能力提供可靠的安全和监控服务的良好声誉和专业知识，使我们能够与传统和新兴竞争对手展开竞争。我们的风险和挑战 我们的前景应考虑到类似公司经常遇到的风险、不确定性、费用和困难。我们实现业务目标和执行战略的能力受到风险和不确定性的影响，包括但不限于以
50、下因素：与我们的业务和行业相关的风险 与我们的业务和行业相关的风险和不确定性包括但不限于以下几点：我们的很大一部分收入来自现有的长期客户；因此，如果我们无法保留并维持与现有客户的良好关系，可能会对我们的业务和财务业绩产生重大不利影响。我们目前按照国际财务报告准则(IFRS)报告我们的财务结果，该准则在某些重大方面与美国公认会计原则有所不同。我们的独立注册会计师事务所对我们在截至 2022 年 12 月 31 日的财政年度继续经营的能力表示了重大怀疑。我们继续经营的能力需要我们获得足够的资金来为我们的运营提供资金。我们成功的关键部分在于推出和提供创新且节省成本的安全服务。如果我们的新产品和服务不
51、成功，可能会对我们的业务产生重大不利影响。我们的计算机、数据备份、信息技术、电信和处理系统以及监控站的正常和高效运行对我们的业务至关重要。作为安全服务提供商，我们因员工行为或疏忽或系统故障而面临的责任风险比其他企业更大。当发生紧急情况时，我们的监控安全设施会呼叫警察和消防部门。如果警察和消防部门未能或延迟响应我们的呼叫，我们的业务和声誉可能会受到不利影响。我们不时会受到侵犯、盗用或以其他方式侵犯他人知识产权的索赔，并且将来还会受到此类索赔，这可能会对我们的业务和运营产生不利影响。我们无法获得必要的知识产权或充分保护我们的知识产权可能会对我们的业务和经营业绩产生不利影响。对外部安全供应商的依赖可
52、能会增加我们的运营和财务风险。2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm14/378 52025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_conc
53、orde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm15/378 与监管合规相关的风险 与我们的监管合规性相关的风险和不确定性，但不限于以下方面：网络安全和数据隐私法规方面的立法和监管举措不断增多可能会对我们的业务和财务业绩产生不利影响。随着我们在全球的扩张，我们将受到各个政府机构更多的监管。与本次发行及 A 类普通股所有权相关的风险 与本次发行和我们的 A 类普通股相关的风险和不确定因素包括但不限于以下几点：我们的双重投票结构将投票控制权集中于
54、 B 类普通股股东，这将限制或阻碍您影响公司事务的能力，您的利益可能与这些股东的利益相冲突。由于被排除在某些股票市场指数之外，它还可能对我们的 A 类普通股交易市场产生不利影响，并压低我们的 A 类普通股交易价格。在本次发行之前，我们的 A 类普通股尚未形成公开市场，如果没有形成活跃的交易市场，您可能无法以您支付的价格或高于您支付的价格转售我们的股票，或者根本无法转售。我们缺乏有效的财务报告内部控制，这可能会影响我们准确报告财务结果或防止欺诈的能力，从而影响我们的 A 类普通股的市场和价格。纳斯达克资本市场可能会对我们的首次上市和持续上市采用额外的、更严格的标准，因为我们的内部人员将持有我们上
55、市证券的很大一部分。我们 A 类普通股的首次公开发行价格可能无法反映交易市场上的价格，且此类市场价格可能会波动。此外，我们还面临其他风险和不确定因素，这些因素可能会对我们的业务前景、财务状况和经营业绩产生重大影响。在投资我们的 A 类普通股之前，您应考虑“风险因素”和本招股说明书其他部分中讨论的风险。我们的公司结构 以下是截至本招股说明书之日的组织结构图：2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archiv
56、es/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm16/378 62025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm17/378 Concorde International 于 202
57、3 年 5 月 2 日在英属维尔京群岛注册成立。我们在英属维尔京群岛的注册办事处位于 Conyers Trust Company(BVI)Limited of Commerce House,Wickhams Cay 1,PO Box 3140,Road Town,Tortola,British Virgin Islands VG1110。我们的主要行政办事处位于 3 Ang Mo Kio Street 62,#01-49 LINKAMK,Singapore 569139。我们在此地点的电话号码是+65 2960802。Concorde International 成立的目的是间接收购和持有 C
58、oncorde Security Pte Ltd（新加坡）、Concorde Security Sdn Bhd（马来西亚）、Concorde Security Limited（英国）、Concorde Asia Pte Ltd（新加坡）和 Berjaya Academy Pte Ltd（新加坡）。Concorde International Group Pte Ltd（新加坡）成立于 2023 年 6 月 12 日。它是一家控股公司，也是 Concorde International 的全资子公司。其注册办事处位于 3 Ang Mo Kio Street62,#01-49 LINKAMK,Si
59、ngapore 569139。双重股权结构 根据我们现行的公司章程，我们获授权发行最多 350,000,000 股普通股，每股面值 0.00001 美元，包括(i)250,000,000 股 A 类普通股，每股面值 0.00001 美元；及(b)100,000,000股 B 类普通股，每股面值 0.00001 美元。除非法律禁止，B 类普通股对需要或请求股东批准的提案每股有权投一百票。A 类普通股对任何此类事项有权投一票。除投票权和转换权外，B 类普通股与 A 类普通股享有同等权利且地位同等，包括股息和其他资本分配权利。每股 B 类普通股可由其持有人随时转换为一股 A 类普通股。在任何情况下，
60、A 类普通股均不可转换为 B 类普通股。在本次发行中，我们发行的是 A 类普通股。我们的创始人（其中一些人也是我们的高管和董事）拥有 20,888,886 股 B 类普通股，因此他们拥有 2,088,888,600 票。在本招股说明书所述发行完成之前，我们的创始人拥有 100%的总投票权。本次发行后，考虑到预计将发行的 1,250,000 股 A 类普通股，即使 100%的股份被出售，我们的首席执行官仍将保留对公司的控制投票权，因为他拥有约 97.57%的所有投票权。这种集中控制可能会限制或阻止其他人在可预见的未来影响公司事务（包括重大业务决策）的能力。公司信息 我们的网站是。我们网站上包含的
61、信息不是本招股说明书的一部分，也不是通过引用纳入本文的内容，不应作为决定是否投资我们 A 类普通股的依据。最新动态 可转换票据融资 2024 年 6 月 10 日，Softbank Robotics Singapore Pte Ltd（“软银”）向本公司认购了价值 1,000,000 美元、期限为 24 个月的可转换票据。该票据可转换为本公司的 A 类普通股，转换价格等于以下两者中较高者：(i)投资者在本公司首次公开发行时为 A 类普通股支付的每股价格或(ii)软银在发行之日起一年后全权酌情给予本公司在转换通知日期前六十天期间成交量加权平均价格的 15%折扣。新加坡子公司向华侨银行有限公司(O
62、CBC)提供的贷款 2024 年 5 月 28 日，我们拥有 96.81%股权的子公司 Concorde Security Pte Ltd 从华侨银行获得了一笔 150 万新元的优惠利率贷款，用于一般营运资金和以更高的利率再融资现有贷款。该笔贷款由我们全资拥有的子公司 Concorde International Group Pte Ltd、Swee Kheng Chua 和 Ping Ping Lim 担保。2024 年 6 月 14 日，Concorde Security Pte Ltd 从华侨银行获得了一笔 50 万新加坡元的定期贷款，年利率为银行现行资金成本的 3.5%。该笔贷款由我们
63、全资拥有的子公司Concorde International Group Pte Ltd 以及 Swee Kheng Chua 和 Ping Ping Lim 担保。2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm18/378 2024 年 6 月 25 日，Conco
64、rde Security Pte Ltd（以下简称“授予人”）签署了一份附于定期贷款的看涨期权协议，该协议授予华侨银行以比授予人普通股首次公开发行（以下简称“授予人 IPO”）价格或交易销售价格低 20%的价格认购授予人的股份。华侨银行有权认购最多(i)授予人扩大后的普通股本的 20%，或(ii)500,000 新加坡元（以较低者为准）。截至 2024 年 6 月 25 日，授予人的已发行股本为 4,070,000 新加坡元，分为 1,542,748 股授予人普通股。行使该选择权的权利将在以下情况下发生：(i)授予人首次公开募股(IPO)结束，据此该等股份将在新加坡证券交易所有限公司或双方同意
65、的其他公认证券交易所上市并报价；或(ii)交易销售（另一实体购买授予人已发行普通股总数或总资产的 50%或更多）。72025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm19/378 B 类普通股发行 2024 年 3 月 18 日，作为股权激励计划的一部分，我们向董事会成员
66、、高管或其关联方和现有股东发行了 20,788,886 股 B 类普通股，其公允价值通过综合损失确认。向他们每人发行的股份公允价值为每股 4 美元（详情请参阅附注 14A）。2020 年 3 月 6 日，Berjaya Academy Pte.Ltd.向 Poh San Koh 发行了 100,000 股普通股，Poh San Koh 代表 Swee Kheng Chua 持有这些普通股。2022 年 1 月 10 日，Poh San Koh 将这 100,000 股转让给 Sharifah Noriati Binte Said Omar。2023 年 11 月 1 日，100,000 股股份
67、以 1 新加坡元的价格从 Sharifah Noriati Binte Said Omar 转让给 Concorde InternationalGroup Pte Ltd(Singapore)。这些股份由 Sharifah Noriati Binte Said Omar 代表 Swee Kheng Chua 持有。2024 年 3 月 14 日，公司将这 100,000 股授权股份重新指定并重新分类为100,000 股 B 类普通股。所有股份均根据（i）证券法第 4(a)(2)条和根据该法颁布的 D 条例第 506(b)条中的豁免条款以及适用的州证券法，或（ii）根据证券法颁布的 S 条例的规
68、定出售给我们的董事会成员、高级管理人员或其附属公司以及现有股东。下表列示了截至本招股说明书日期已发行的 B 类普通股数量以及董事会成员、执行官或其关联方和现有股东支付的总购买价格。这些购买条款对于我们所有 B 类普通股的购买者均相同。股东 B 类普通股 已支付的总购买价格 瑞庆蔡(1)18,000,000$180 Terence Wing Khai Yap(2)25万$2.5 王思贤(3)46,296$0.46296 谢里法诺里亚蒂宾特赛义德奥马尔(4)185,185$1.85185 林萍萍(5)377,775$3.77775 蔡家炜(6)14,815$0.14815 彭美辉(7)14,815
69、$0.14815 威乐凯投资私人有限公司(8)2,000,000$20 （1）我们的首席执行官兼董事 Swee Kheng Chua。（2）Terence Wing Khai Yap，我们的主管。（3）Sze Yin Ong，我们的首席财务官。（4）Sharifah Noriati Binte Said Omar 女士担任我们持股 70%的子公司 Berjaya Academy Pte Ltd、我们持股 96.81%的子公司 Concorde Security Pte Ltd(Singapore)以及我们持股 70%的子公司Concorde Asia Pte Ltd(Singapore)的名义
70、董事。（5）林萍萍(Ping Ping Lim)，蔡瑞庆(Swee Kheng Chua)的配偶。（6）蔡家伟，蔡瑞庆的儿子。2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm20/378（7）Meang Fai Pang，该公司的自由职业承包商，也是 Swee Khen
71、g Chua 的亲密伙伴。（8）Weilekai Investments Pte Ltd is a Singapore company,50%owned by Swee Kheng Chua and 50%owned by Ping Ping Lim,Spouse of Swee Kheng Chua.Swee Kheng Chua is deemed to beneficiallyown the Class B Ordinary Shares owned by Weilekai Investments Pte Ltd and has sole voting and dispositive p
72、owers over its shares.Weilekai Investments Pte Ltds business address is 3 Ang Mo KioStreet 62#01-49 LINKAMK Singapore 569139.Implications of Being an Emerging Growth Company Upon the completion of this offering,we will qualify as an“emerging growth company”under the Jumpstart Our Business Act of 201
73、2,as amended,or the JOBS Act.As a result,we will bepermitted to,and intend to,rely on exemptions from certain disclosure requirements.These provisions include exemption from the auditor attestation requirement under Section 404 of theSarbanes-Oxley Act of 2002 in the assessment of the emerging growt
74、h companys internal control over financial reporting.In addition,Section 107 of the JOBS Act also provides that anemerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B)of the Securities Act for complying with new or revised accounting standards.In
75、 other words,an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies.We have elected totake advantage of the benefits of this extended transition period.Our financial statements may therefore not be comparable
76、 to those of companies that comply with such new or revisedaccounting standards.82025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm21/378 We will remain an emerg
77、ing growth company until(for the first five fiscal years after the initial public offering is completed)the earliest of the following occurs:(i)our total annual grossrevenues are$1.235 billion or more(ii)we have issued more than$1 billion in non-convertible debt in the past three years or(iii)we bec
78、ome a“large accelerated filer,”as defined in theSecurities Exchange Act of 1934,which we refer to as the“Exchange Act,”Rule 12b-2.Once we cease to be an emerging growth company,we will not be entitled to the exemptionsprovided in the JOBS Act discussed above.Implications of Being a Foreign Private I
79、ssuer Once the registration statement of which this prospectus is a part is declared effective by the SEC,we will become subject to the information reporting requirements of the Exchange Act thatare applicable to“foreign private issuers,”and under those requirements we will file certain reports with
80、 the SEC.As a foreign private issuer,we will not be subject to the same requirementsthat are imposed upon U.S.domestic issuers by the SEC.Under the Exchange Act,we will be subject to reporting obligations that,in certain respects,are less detailed and less frequent thanthose of U.S.domestic reportin
81、g companies.For example,although we report our financial results on a quarterly basis,we will not be required to issue quarterly reports,proxy statementsthat comply with the requirements applicable to U.S.domestic reporting companies,or individual executive compensation information that is as detail
82、ed as that required of U.S.domesticreporting companies.We also will have four months after the end of each fiscal year to file our annual reports with the SEC and we will not be required to file current reports as frequently orpromptly as U.S.domestic reporting companies.We also present our financia
83、l statements pursuant to International Financial Reporting Standards,or IFRS.Furthermore,our officers,directors and principal shareholders will be exempt from the requirements to report transactions in our equity securities and from the short-swing profit liability provisions contained inSection 16
84、of the Exchange Act.As a foreign private issuer,we will also not be subject to the requirements of Regulation FD(Fair Disclosure)promulgated under the Exchange Act.Inaddition,as a foreign private issuer,we will be permitted,and intend to follow,certain home country corporate governance practices ins
85、tead of those otherwise required under NasdaqMarketplace Rules for domestic U.S.issuers.These exemptions and leniencies will reduce the frequency and scope of information and protections available to you in comparison to thoseapplicable to a U.S.domestic reporting companies.Implications of Being a C
86、ontrolled Company The“controlled company”exception to rules of the Nasdaq Capital Market provides that a company of which more than 50%of the voting power is held by an individual,group or anothercompany,a“controlled company,”need not comply with certain requirements of the corporate governance rule
87、s of the Nasdaq Capital Market.As of the date of this prospectus,Swee KhengChua,the Chief Executive Officer and a director of the Company,beneficially owned an aggregate of 20,392,590 Class B Ordinary Shares(including 18,000,000 Class B Ordinary Sharesowned directly by Swee Kheng Chua;377,775 Class
88、B Ordinary Shares beneficially owned by Ping Ping Lim,Swee Kheng Chuas spouse;14,815 Class B Ordinary Shares beneficiallyowned by Jia Wei Chua,Swee Kheng Chuas son,as they live in the same household;and 2,000,000 Class B Ordinary Shares beneficially owned by Weilekai Investments Pte Ltd.),whichrepre
89、sents approximately 97.62%of the voting power of our outstanding ordinary shares.Following this offering,Mr.Chua will control approximately 97.57%of the voting power of ouroutstanding ordinary shares if all the Class A Ordinary Shares being offered are sold(or 97.56%of our outstanding voting power i
90、f the underwriters option to purchase additional shares isexercised in full).Accordingly,if we obtain listing on the Nasdaq Capital Market,we will be a“controlled company”within the meaning of the corporate governance rules of the NasdaqCapital Market.Controlled companies are exempt from the corpora
91、te governance rules of the Nasdaq Capital Market requiring that listed companies have(i)a majority of the board ofdirectors consist of“independent”directors under the listing standards of the Nasdaq Capital Market,(ii)a nominating/corporate governance committee composed entirely of independentdirect
92、ors and a written nominating/corporate governance committee charter meeting the requirements of the Nasdaq Capital Market,and(iii)a compensation committee composed entirely ofindependent directors and a written compensation committee charter meeting the requirements of the Nasdaq Capital Market.We c
93、urrently utilize and presently intend to continue to utilizethese exemptions.As a result,we may not have a majority of independent directors,our nomination and corporate governance committee and compensation committee may not consistentirely of independent directors and such committees may not be su
94、bject to annual performance evaluations.Accordingly,you may not have the same protections afforded to shareholders ofcompanies that are subject to all of the corporate governance requirements of the Nasdaq Capital Market.See“Management.”92025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024
95、109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm22/378 T?O?Shares offered Class A Ordinary Shares,assuming an estimated initial public offering price of$4.00 per share Ordinary Shares outstanding immediately before the of
96、fering Zero Class A Ordinary Share and 20,888,886 Class B Ordinary Shares.Our Class B Ordinary Shares will becomeconvertible at the option of the holder into Class A Ordinary Shares on a 1:1 basis following this offering.Class AOrdinary Shares are entitled to one(1)vote per share,and Class B Ordinar
97、y Shares are entitled to one hundred(100)vote per share.See“Description of Share Capital”for more information.Ordinary Shares outstanding immediately after the offering 1,250,000 Class A Ordinary Shares(or 1,437,500 Class A Ordinary Shares if the underwriters exercise the over-allotment option in fu
98、ll)and 20,888,886 Class B Ordinary Shares.Over-allotment option We have granted to the underwriters a 45-day option to purchase from us up to an additional 15%of the Class AOrdinary Shares sold in the offering(187,500 additional shares,assuming an estimated initial public offeringprice of$4.00 per s
99、hare)at the initial public offering price,less the underwriting discounts and commissions.Use of proceeds We expect to receive net proceeds of approximately$5 million from this offering,assuming an estimated initialpublic offering price of$4.00 per share,and no exercise of the underwriters over-allo
100、tment option,and afterdeducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.We plan to use the net proceeds of this offering for purchase and rollout of electric vehicular mobile commandcenters,research and development activities,regional market dev
101、elopment and exploration of new markets,product development,working capital and general corporate purposes.See“Use of Proceeds”for moreinformation on the use of proceeds.Risk factors Investing in our Class A Ordinary Shares involves a high degree of risk and purchasers of our Class A OrdinaryShares
102、may lose part or all of their investment.See“Risk Factors”for a discussion of factors you should carefullyconsider before deciding to invest in our Class A Ordinary Shares.102025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/ed
103、gar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm23/378 Lock-up We have agreed with the underwriters,not to,during a period of 180 days after the closing of this offering,(i)offer,pledge,sell,contract to sell,sell any option or contract to purchase,purchase any option or contract tosel
104、l,grant any option,right or warrant to purchase,lend,or otherwise transfer or dispose of,directly or indirectly,any shares of our capital stock or any securities convertible into or exercisable or exchangeable for shares of ourcapital stock;(ii)file or cause to be filed any registration statement wi
105、th the Commission relating to the offeringof any shares of our capital stock or any securities convertible into or exercisable or exchangeable for shares ofour capital stock;(iii)complete any offering of our debt securities,other than entering into a line of credit with atraditional bank,or(iv)enter
106、 into any swap or other arrangement that transfers to another,in whole or in part,anyof the economic consequences of ownership of our capital stock,whether any such transaction described in clause(i),(ii),(iii)or(iv)above is to be settled by delivery of shares of our capital stock or such other secu
107、rities,in cashor otherwise.Additionally,our officers,directors and each holder of two percent(2%)or more of the Companys issued andoutstanding Ordinary Shares of the effective date of the Registration Statement(and all holders of securitiesexercisable for or convertible into Ordinary Shares)entered
108、into“lock-up”agreements pursuant to which suchpersons and entities shall agree,for a period of 180 days after the closing of this offering,that they shall not offer,pledge,sell,contract to sell,sell any option or contract to purchase,purchase any option or contract to sell,grantany option,right or w
109、arrant to purchase,lend,or otherwise transfer or dispose of,directly or indirectly,any sharesof our capital stock or any securities convertible into or exercisable or exchangeable for shares of our capitalstock,subject to customary exceptions.Proposed Nasdaq Capital Market trading symbols We intend
110、to apply to list our Class A Ordinary Shares on the Nasdaq Capital Market under the trading symbols“CIGL”,and we will not close this offering unless the Nasdaq Capital Market has approved our Class A OrdinaryShares for listing.Transfer Agent Vstock Transfer,LLC.The address for VStock Transfer,LLC is
111、 18 Lafayette Place,Woodmere,New York,11598,and the telephone number is 212 828-8436.The number of Class A Ordinary Shares outstanding immediately following this offering is based on zero shares outstanding as of the date of this prospectus.112025/1/8 15:19sec.gov/Archives/edgar/data/2001794/0001213
112、90024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm24/378 S?C?F?I?The following selected historical financial information should be read in conjunction with,and it is qualified in its entirety by reference to,our audite
113、d consolidated financial statements as ofand for the years ended December 31,2023,2022 and the related notes thereto,our unaudited consolidated financial statements as of June 30,2024 and for the six months ended June 30,2024 and 2023 and the related notes thereto,and the section entitled“Management
114、s Discussion and Analysis of Financial Condition and Results of Operations”included elsewhere in theprospectus.The following summary consolidated statements of profit or loss and other comprehensive income information for the years ended December 31,2023 and 2022 and the following relatedsummary con
115、solidated statements of financial position data as of December 31,2023 and 2022,have been derived from our audited consolidated financial statements as of and for the yearsended December 31,2023 and 2022,included elsewhere in this prospectus.The following summary consolidated statements of profit or
116、 loss and other comprehensive income informationfor the six months ended June 30,2024 and 2023,and the following related summary consolidated statements of financial position data as of June 30,2024,have been derived from ourunaudited consolidated financial statements as of June 30,2024 and for the
117、six months ended June 30,2024 and 2023,included elsewhere in this prospectus.Our financial statements are prepared and presented in accordance with IFRS.Our historical results for any period are not necessarily indicative of our future performance.For the Six Months Ended For the Year Ended June 30,
118、2024(restated)June 30,2023 December 31,2023 December 31,2022 Consolidated Statements of Profit or Loss and Other Comprehensive Income$Revenue 5,393,844 5,635,287 10,655,993 5,006,345 Cost of revenue 3,939,891 3,915,725 7,662,024 3,648,637 Operating expenses 1,520,584 681,958 1,955,820 (2,291,856)(Lo
119、ss)/Profit from operations (66,631)1,037,604 1,038,149 (934,148)Other income(expenses)206,788 118,326 236,911 205,201 Share-based compensation (83,155,336)-Finance costs (95,085)(67,897)(149,626)(75,033)Net profit/(loss)before tax (83,110,264)1,088,033 1,125,434 (803,980)Net profit/(loss)per share b
120、asic and diluted (6.95)9.44 9.61 (7.83)Weighted average number of shares outstanding basic and diluted 11,979,363 100,000 100,000 100,000 Other comprehensive income Foreign currency translation (88,215)(54,844)26,616 46,459 As ofJune 30,As of December 31,2024 2023 2022 2025/1/8 15:19sec.gov/Archives
121、/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm25/378Consolidated Statements of Financial Position Data$Cash 2,270,438 956,975 441,278 Current assets 7,299,487 5,287,321 4,050,813 Total as
122、sets 10,562,266 8,550,581 7,103,192 Current liabilities 4,929,159 3,514,897 3,059,866 Total liabilities 8,010,402 5,848,005 5,492,869 Shareholders equity 2,551,864 2,702,577 1,610,323 Total liabilities and shareholders equity 10,562,266 8,550,581 7,103,192 122025/1/8 15:19sec.gov/Archives/edgar/data
123、/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm26/378 RISK FACTORS An investment in our Class A Ordinary Shares involves a high degree of risk.Before deciding whether to invest in our Class A Ordinar
124、y Shares,you should carefully consider the risks describedbelow,together with all of the other information set forth in this prospectus,including the section titled“Managements Discussion and Analysis of Financial Condition and Results ofOperation”and our consolidated financial statements and relate
125、d notes.If any of these risks actually occur,our subsidiaries business,financial condition,results of operations or cash flowcould be materially and adversely affected,which could cause the trading price of our Class A Ordinary Shares to decline,resulting in a loss of all or part of your investment.
126、The risksdescribed below are not the only ones that we face.Additional risks not presently known to us or that we currently deem immaterial may also affect us and our subsidiaries business.You shouldonly consider investing in our Class A Ordinary Shares if you can bear the risk of losing your entire
127、 investment.Risks Relating to Our Business and Industry A significant amount of our revenue is generated from our existing long-term customers;thus,our inability to retain and maintain a good relationship with our existing customers canhave a material adverse effect on our business and financial res
128、ults.As of the date of this prospectus,our main line of revenue is generated from providing security services by monitoring properties,assets and building systems under 24/7 surveillance,ensuringsecurity and business efficiency for our customers.A significant driver of our growth is our recurring re
129、venue business in which customers who contracted to purchase our products and servicesand are required to pay monthly fees.As such,our ability to maintain our existing significant customer base is important to our long-term profitability.For the fiscal year ended December 31,2022,Ceva Logistics Sing
130、apore Pte Ltd and JTC Corporation each represented approximately 10%of our total net revenues,the loss or material reduction of business,either due to a reductionin demand from one or more of our significant customers,such as industrial and commercial customers,or our inability to timely meet any el
131、evated level of customer demand for variousreasons,the lack of success of sales initiatives or changes in customer preferences or loyalties for our products and services related to any such significant customer could have a materialadverse impact on our business.This requires that we minimize our ra
132、te of customer disconnects,or attrition,which can increase as a result of factors such as problems experienced with ourproduct or service quality,customer service,customer non-pay,unfavorable general economic conditions,and the preference for lower pricing of competitors products and services over o
133、urs.Ifattrition rates were to rise significantly,we may be required to accelerate the depreciation and amortization expense for,or to impair,certain of our assets,including with respect to customerrelationships,which would cause a material adverse effect on our financial condition and results of ope
134、rations.We currently report our financial results under IFRS,which differs in certain significant respect from U.S.generally accepted accounting principles.We report our financial statements under IFRS.There have been and there may in the future be certain significant differences between IFRS and Un
135、ited States generally accepted accountingprinciples,or U.S.GAAP,including differences related to revenue recognition,intangible assets,share-based compensation expense,income tax and earnings per share.As a result,our financialinformation and reported earnings for historical or future periods could
136、be significantly different if they were prepared in accordance with U.S.GAAP.In addition,we do not intend to provide areconciliation between IFRS and U.S.GAAP unless it is required under applicable law.As a result,you may not be able to meaningfully compare our financial statements under IFRS with t
137、hosecompanies that prepare financial statements under U.S.GAAP.Our independent registered public accounting firm expressed substantial doubt regarding our ability to continue as a going concern for the fiscal year ended December 31,2022.Ourability to continue as a going concern requires that we obta
138、in sufficient funding to finance our operations.As of December 31,2022,the Companys operating losses raise substantial doubt about the Companys ability to continue as a going concern.This indicates the existence of a materialuncertainty which may cast significant doubt over our ability to continue a
139、s a going concern.Our ability to continue as a going concern is dependent upon our profit generating operations in thefuture and/or obtaining the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they become due.2025/1/8 15:19sec.gov/A
140、rchives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm27/378As of December 31,2023,our audited financial statements were prepared on the assumption that we would continue as a going concer
141、n.The Companys ability to continue as a going concern isdependent upon the Companys profit generating operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal businessoperations when they become due.If we are unable to co
142、ntinue in operational existence for the foreseeable future,we may be unable to discharge our liabilities in the normal course of business and adjustments may have to bemade to reflect the situation that assets may need to be realized other than in the normal course of business and at amounts which c
143、ould differ significantly from the amounts at which they arecurrently recorded in the statement of financial position.In addition,we may have to include adjustments to the carrying amounts and classification of assets,liabilities,and reported expenses.No such adjustments have been made to these fina
144、ncial statements.If we seek additional financing to fund our business activities in the future and there remains substantial doubt about our ability to continue as a going concern,investors or other financingsources may be unwilling to provide additional funding to us on commercially reasonable term
145、s or at all.Further,if we cannot continue as a going concern,we may be forced to discontinueoperations and liquidate our assets and may receive less than the value at which those assets are carried on our audited financial statements,which would cause our shareholders to lose all or apart of their i
146、nvestment.132025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm28/378 We have substantial customer concentration,with a limited number of customers accounting for
147、 a substantial portion of our recent revenues.Historically,we have derived a significant portion of our revenues from our top five customers.For the six months ended June 30,2024,our top two customers,Peoples Association at OneTampines Hub and Peoples Association at OnePunggol accounted for approxim
148、ately 6%and 6%of our total revenue,respectively.For the six months ended June 30,2023,our top twocustomers,Singapore University of Technology and Peoples Association at OnePunggol accounted for approximately 10%and 8%of our total revenue,respectively.For the fiscal year endedDecember 31,2023,our top
149、 two customers,Singapore University of Technology and Design and Peoples Association at OnePunggol accounted for approximately 8%and 7%of our totalrevenue,respectively.In the fiscal year ended December 31,2022,our top five customers accounted for approximately 36%of our revenue.Specifically,our top
150、five customers contributedapproximately 10%,10%,6%,5%,and 5%of our total revenue,respectively.There are inherent risks whenever a large percentage of total revenues are concentrated on a limited number of customers.It is not possible for us to predict the future level of demand for ourservices that
151、will be generated by these customers.In addition,revenues from these larger customers may fluctuate from time to time based on the commencement and completion of projects,the timing of which may be affected by market conditions or other facts,some of which may be outside of our control.Further,some
152、of our contracts with these larger customers permit them toterminate our services at any time(subject to notice and certain other provisions).If any of these customers experience declining or delayed sales due to market,economic or competitiveconditions,we could be pressured to reduce the prices we
153、charge for our services which could have an adverse effect on our margins and financial position,and could negatively affect ourrevenues and results of operations and/or trading price of our Class A Ordinary Shares.If any of these largest customers terminates our services,such termination would nega
154、tively affect ourrevenues and results of operations and/or trading price of our Class A Ordinary Shares.If we fail to attract,retain and engage appropriately qualified employees,including employees in key positions,our operations and profitability may be harmed.In addition,changes inmarket compensat
155、ion rates may adversely affect our profitability.One of the key products we offer is a suite of smart security solutions called“I-Guarding Services”.The first of these solutions is our patented IFS,a mobile vehicular platform providingsecurity and facility maintenance services.Our I-Guarding Service
156、s offer high-quality and advanced technological products and services for our customers and require a highly trained andengaged workforce.As a result,we rely on our ability to attract,train and retain sufficient numbers of qualified employees.Specifically,because employees become more productive and
157、 skillfulas they gain experience,market demand for such employees will become more competitive and retaining those individuals is very important for our success,especially as we expand and growour market.Further,failure to recruit or retain qualified employees in the future may impair our efficiency
158、 and effectiveness and our ability to pursue growth opportunities.A significant amountof turnover of our executive team or other employees in key positions,such as Chief Executive Officer,Chief Financial Officer,and Chief Operating Officer may negatively impact ouroperations.Factors that affect our
159、ability to maintain sufficient numbers of qualified employees include,for example,employee engagement,our reputation,unemployment rates,competitionfrom other employers,availability of qualified personnel and our ability to offer appropriate compensation and benefit packages.If we are unable to attra
160、ct,train and retain sufficient numbers ofqualified employees,our business,financial condition,cash flows or results of operations could be adversely affected.We operate in a competitive labor market and there is a risk that market increases in compensation and employer-provided benefits could have a
161、 material adverse effect on our profitability.Wemay also be subject to continued market pressure to increase employee hourly wage rates and increased cost pressure on employer-provided benefits.Our need to implement correspondingadjustments within our labor model and compensation and benefit package
162、s could have a material adverse impact to the profitability of our business.A critical part of our success was driven by introducing and providing innovative and cost-saving security services.If our new products and services are not successful,it could have amaterial adverse effect on our business.A
163、 critical part of our business success was driven by introducing and providing innovative and cost-saving security services for our customers.As of the date of this prospectus,we are offeringproducts and services including I-Guarding Services,Man-Guarding Services,Consultancy and Training Services,e
164、tc.To stay competitive in the market,we believe we must continue todevelop and commercialize new products and services that meet the varied and evolving needs of our customers in order to continue to grow our business.While we devote significant effort andresources to the research and development of
165、 new products,we cannot guarantee the new products and services we may launch in the future will be well received by our customers.In addition,2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/00012139002410
166、9747/ea0224735-f1a4_concorde.htm29/378the speed of development by our competitors and new market entrants is increasing.We cannot provide any assurance that any new product or service will be successfully commercialized in atimely manner,if ever,or,if commercialized,will result in returns greater th
167、an our investment.Investment in a product or service could divert our attention and resources from other projectsthat become more commercially viable in the market.We also cannot provide any assurance that any new product or service will be accepted by the market.In addition,new products andservices
168、 may present new and difficult technological and intellectual property challenges that may subject us to claims or complaints if our customers experience service failures or other qualityissues.To the extent our new products and services are not successful,it could have a material adverse effect on
169、our business,financial condition,cash flow or results of operations.142025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm30/378 The proper and efficient functioni
170、ng of our computer,data backup,information technology,telecom and processing systems,and our monitoring stations are essential to our business.Our central monitoring facilities depend on the proper and efficient functioning of our computer,data backup,information technology,telecom and processing sy
171、stems,and other platforms.Ifthere is a catastrophic event,natural disaster,security breach,negligent or intentional act by an employee or other extraordinary event,the malfunctioning of our information technology systemcould cause us unable to respond to emergencies on a timely manner.Furthermore,be
172、cause computer and data backup and processing systems are susceptible to malfunctions and interruptions,we cannot guarantee that we will not experience service failures in the future.A significant or large-scale malfunction or interruption of any computer or data backup and processing systemcould ad
173、versely affect our ability to keep our operations running efficiently and respond to alarm system signals.If a malfunction results in a wider or sustained disruption,it could have amaterial adverse effect on our reputation,business,financial condition,cash flows or results of operations.Product defe
174、cts or shortfalls in customer service may damage our reputation as a high-quality security service provider.The success of our business depends on our reputation and ability to maintain good relationships with our customers,suppliers,and local regulators,among others.Our reputation may beharmed eith
175、er through product defects or shortfalls in customer service.Customers generally judge our performance through their interactions with staff at our monitoring and customer carecenters,and field installation and service technicians,as well as their day-to-day interactions with our products.Any failur
176、e to meet customers expectations in such customer service areas couldcause an increase in attrition rates or make it difficult to obtain new customers.Any harm to our reputation or customer relationships caused by the actions of our personnel,or third-partyproduct or service providers or any other f
177、actors could have a material adverse effect on our business,financial condition,results of operations,and cash flows.In addition,our products andservices may contain undetected defects in the software,infrastructure,third-party components or processes.If these solutions fail for any reason,including
178、 due to defects in our equipment,software,a carrier outage or user error,we could be subject to liability for such failures and our business could suffer.As a security service provider,we are exposed to greater risk of liability for employee acts or omissions or system failure,than may be inherent i
179、n other businesses.The nature of the products and services we provide potentially exposes us to greater risks of liability for employee acts or omissions or system failures than may be inherent in other businesses.If customers believe that they incurred losses as a result of our action or inaction,t
180、he customers,or their insurers,could in the future bring claims against us.In addition,there can be noassurance that we are adequately insured for these risks.Certain of our insurance policies may limit or prohibit insurance coverage for punitive or certain other types of damages or liabilityarising
181、 from gross negligence.If significant uninsured damages are assessed against us,the resulting liability could have a material adverse effect on our business,financial condition,cashflows or results of operations.A disruption in the operation of our monitoring facilities or customer care resources co
182、uld materially adversely affect our business.A disruption in our ability to provide security monitoring services or otherwise provide ongoing customer care to our customers could have a material adverse effect on our business.Adisruption could occur for many reasons,including fire,natural disasters,
183、weather,and the effects of climate change(such as sea level rise,drought,flooding,wildfires,and increased stormseverity),health epidemics or pandemics,transmission interruption,extended power outages,human or other error,malicious acts,provider preferences regarding the signals that gettransmitted,g
184、overnment actions,war,terrorism,sabotage,or other conflicts,or as a result of disruptions to internal and external networks or third party transmission lines.Monitoring andcustomer care could also be disrupted by information systems and network-related events or cybersecurity attacks,such as compute
185、r hacking,computer viruses,worms,or other malicioussoftware,distributed denial of service attacks,malicious social engineering,or other destructive or disruptive activities that could also cause damage to our properties,equipment,and data.Afailure of our back-up procedures or a disruption affecting
186、monitoring facilities could disrupt our ability to provide security monitoring or customer care services to our customers.If weexperience such disruptions,we may experience customer dissatisfaction and potential loss of confidence,and liabilities to customers or other third parties,each of which cou
187、ld harm ourreputation and impact future revenues.We could also be subject to claims or litigation with respect to losses caused by such disruptions.Our insurance may not be sufficient to fully cover ourlosses or may not cover a particular event at all.Any such disruptions or outcomes could have a ma
188、terial adverse effect on our business,financial condition,results of operations,and cash flows.2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm31/378152025/1/8
189、 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm32/378 Our industry is highly competitive.The markets in which we operate include a large number of participants,includ
190、ing multinational,regional and small,local companies.As we plan to expand beyond the Singaporean market,such as North America,Malaysia,and Australia,we will face increasing competition from internet service providers,large technology companies,singular experience companies,industrial andsmart hardwa
191、re companies,and others that may have greater capital and resources than us.We also face competition from large residential security companies that have or may have greatercapital and other resources than we do.Competitors that are larger in scale and have greater resources may benefit from greater
192、economies of scale and other lower costs that permit them tooffer more favorable terms to consumers(including lower service costs)than we offer,causing such consumers to choose to enter into contracts with such competitors.These competitors mayalso benefit from greater name recognition and superior
193、advertising,marketing,promotional and other resources.To the extent that such competitors utilize any competitive advantages inmarkets where our business is more highly concentrated,the negative impact on our business may increase over time.In addition to potentially reducing the number of new custo
194、mers we areable to originate,increased competition could also result in increased customers acquisition costs and higher attrition rates that would negatively impact us over time.The benefit offered tolarger competitors from economies of scale and other lower costs may be magnified by an economic do
195、wnturn in which customers put a greater emphasis on lower cost products or services.Inaddition,we face competition from regional competitors that concentrate their capital and other resources in targeting local markets.To stay competitive,we focus on quality,innovation,expertise,effective channels t
196、o market,breadth of product offering and price.We may be unable to effectively compete on all these bases.If we are unable to anticipate evolving trends in the market or the timing and scale of our competitors activities and initiatives,the demand for our products and services could be negativelyimp
197、acted.In addition,we compete in an industry that is experiencing the convergence of mechanical,electronic and digital products.Technology and innovation play significant roles in thecompetitive landscape.Our success depends,in part,upon the research,development and implementation of new technologies
198、 and products including obtaining,maintaining and enforcingnecessary intellectual property protections.Securing and maintaining key partnerships and alliances,recruiting and retaining highly skilled and qualified employee talent and having access totechnologies,services,intellectual property and sol
199、utions developed by others will play a significant role in our ability to effectively compete.The continual development of new technologiesby existing and new competitors,including non-traditional competitors with significant resources,could adversely affect our ability to sustain operating margins
200、and desirable levels of salesvolumes.To remain competitive,we must develop new products and service offerings and respond to new technologies in a timely manner.Our monitoring security facilities will call the police and fire departments when emergencies arise.If the police and fire departments fail
201、 or delay responding to our calls,our business andreputation could be adversely affected.Our monitoring security facilities will call the police and fire departments when emergencies arise.If the police and fire departments fail to respond or delay responding to our calls,ourcustomers may suffer eco
202、nomically and incur physical injuries.In such instances,we may be subject to legal liability by potential lawsuits against us.As a result,our brand reputation would bedamaged.Such events could adversely affect our ability to attract and retain customers and could negatively impact our business,finan
203、cial condition,results of operations,and cash flow.Our insurance policies may not cover all of our operating risks and a casualty loss beyond the limits of our coverage could negatively impact our business.We are subject to all of the operating hazards and risks normally incidental to the provision
204、of our products and services and business operations.We maintain insurance policies in suchamounts and with such coverage and deductibles as required by law and that we believe are reasonable and prudent.Nevertheless,such insurance may not be adequate to protect us from all theliabilities and expens
205、es that may arise from claims for personal injury,death or property damage arising in the ordinary course of our business and current levels of insurance may not be able tobe maintained or available at economical prices.If a significant liability claim is brought against us that is not covered by in
206、surance,then we may have to pay the claim with our own funds,which could have a material adverse effect on our business,financial condition,cash flows or results of operations.162025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archive
207、s/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm33/378 We will be subject to risks related to currency exchange rate fluctuations as we plan to expand our business internationally,and such risks may have an adverse effect on our business,financial condition,results of operations a
208、nd cash flows.We expect sales to non-Singaporean customers to represent a significant portion of our revenues in the future.Although we may enter into currency exchange contracts to reduce our risk relatedto currency exchange fluctuations,changes in the relative fair values of currencies occur from
209、time to time.We do not hedge against all our currency exposure,and therefore,our results ofoperations will continue to be susceptible to impacts from currency fluctuations.Further,we may invoice customers in a currency other than its functional currency or may be invoiced bysuppliers in a currency o
210、ther than its functional currency,which could result in unfavorable translation effects on our results of operations.Shareholder and customer emphasis on environmental,social,and governance responsibility may impose additional costs on us or expose us to new risks.Our shareholders,customers and empl
211、oyees continue to expect a more proactive response to environmental,social,and governance(“ESG”)matters.We may incur increased costs and may beexposed to new risks responding to these higher expectations.Although we believe that our emphasis on ESG priorities can help drive sustainable business prac
212、tices that are crucial to our long-term growth,we may face reputational challenges in the event that we are unable to achieve these goals or our ESG standards do not meet those set by certain constituencies.These reputationalchallenges could have a material adverse effect on our business,financial c
213、ondition,results of operations and cash flows.Our strategic initiatives,including enterprise excellence efforts among other significant capital expenditure projects,may not achieve the improvements or financial returns we expect.We utilize a number of tools to improve efficiency and productivity.Imp
214、lementation of new processes to our operations could cause disruptions and may prove to be more difficult,costly ortime-consuming than expected.Additionally,from time to time we undertake substantial capital projects for varying reasons,such as to increase production capacity or to insource certainp
215、roducts,parts or components.We invest in areas we believe best align with our business strategies and that will optimize future returns.However,there can be no assurance that all our plannedenterprise excellence projects or other capital expenditures will be fully implemented,or if implemented,will
216、realize the expected improvements or financial returns.We may pursue additional business opportunities and may decide to eliminate or acquire certain businesses,which could expose us to additional risks.We frequently evaluate strategic opportunities both within and outside our existing lines of busi
217、ness.We expect from time to time to pursue additional business opportunities and may decide toeliminate or acquire certain businesses,products or services or expand into new channels or industries.Such acquisitions or dispositions could be material.There are various risks anduncertainties associated
218、 with potential acquisitions and divestitures,including:(1)availability of financing;(2)difficulties related to integrating previously separate businesses into a single unit,including product and service offerings,distribution and operational capabilities and business cultures;(3)general business di
219、sruption;(4)managing the integration process;(5)diversion ofmanagements attention from day-to-day operations,assumption of costs and liabilities of an acquired business,including unforeseen or contingent liabilities or liabilities in excess of theamounts estimated;(7)failure to realize anticipated b
220、enefits and synergies,such as cost savings and revenue enhancements;(8)potentially substantial costs and expenses associated withacquisitions and dispositions;(9)potential increases in compliance costs;(10)failure to retain and motivate key employees;and(11)difficulties in applying our internal cont
221、rol over financialreporting and disclosure controls and procedures to an acquired business.Any or all of these risks and uncertainties,individually or collectively,could have material adverse effect on ourbusiness,financial condition,cash flow or results of operations.We can offer no assurance that
222、any such strategic opportunities will prove to be successful.Additionally,any new product orservice offerings could require developmental investments or have higher cost structures than our current arrangements,which could reduce operating margins and require more working capital.Moreover,expansion
223、into any new industry or channel could result in higher compliance costs as we may become subject to laws and regulations to which we are not currently subject.172025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/200
224、1794/000121390024109747/ea0224735-f1a4_concorde.htm34/378 From time to time,we are subject to claims for infringing,misappropriating or otherwise violating the intellectual property rights of others and will be subject to such claims in the future,which could have an adverse effect on our business a
225、nd operations.We cannot be certain that our products and services or those of third parties that we incorporate into our offerings do not and will not infringe the intellectual property rights of others.Many ofour competitors and others may now and in the future have significantly larger and more ma
226、ture patent portfolios than we have.From time to time,we are subject to claims based on allegationsof infringement,misappropriation or other violations of the intellectual property rights of others,including litigation brought by special purpose or so-called“non-practicing”entities that focussolely
227、on extracting royalties and settlements by enforcing intellectual property rights and against whom our patents may therefore provide little or no deterrence or protection.Regardless of their merits,intellectual property claims divert the attention of our personnel and are often time-consuming and ex
228、pensive.In addition,to the extent claims against us aresuccessful,we may have to pay substantial monetary damages or discontinue or modify certain products or services that are found to infringe another partys rights or enter into licensingagreements with costly royalty payments.Defending against cl
229、aims of infringement,misappropriation or other violations or being deemed to be infringing,misappropriating or otherwiseviolating the intellectual property rights of others could impair our ability to innovate,develop,distribute and sell our current and planned products and services.Although third p
230、arties may offer a license to their technology or other intellectual property,the terms of any offered license may not be acceptable,and the failure to obtain a license or the costsassociated with any license could cause our business,financial condition and results of operations to be materially and
231、 adversely affected.In addition,some licenses may be non-exclusive,andtherefore our competitors may have access to the same technology licensed to us.If a third party does not offer us a license to its technology or other intellectual property on reasonable terms,or at all,we could be enjoined from
232、continued use of such intellectual property.As a result,we may be required to develop alternative,non-infringing technology,which could requiresignificant time(during which we could be unable to continue to offer our affected products,subscriptions or services),effort,and expense and may ultimately
233、not be successful.Furthermore,asuccessful claimant could secure a judgment or we may agree to a settlement that prevents us from distributing certain products,providing certain subscriptions or performing certain servicesthat requires us to pay substantial damages,royalties or other fees.Any of thes
234、e events could harm our business,financial condition and results of operations.Our inability to acquire necessary intellectual property or adequately protect our intellectual property could adversely affect our business and results of operation.Our intellectual property,including our patents,tradema
235、rks,copyrights,trade secrets and other proprietary rights,constitutes a significant part of our value.Our success depends,in part,on ourability to protect our proprietary technology,brands and other intellectual property against dilution,infringement,misappropriation and competitive pressure by defe
236、nding our intellectualproperty rights.To protect our intellectual property rights,we rely on a combination of patent,trademark,copyright and trade secret laws and a combination of confidentiality procedures,contractual provisions and other methods,all of which offer only limited protection.In additi
237、on,we make efforts to acquire rights to intellectual property necessary for our operations.However,there can be no assurance that these measures will be successful in any given case,particularly in those countries where the laws do not protect our proprietary rights as rigorously.We own a portfolio
238、of issued patents that relate to our security product and services utilized in our business.We may file additional patent applications in the future.The process of obtainingpatent protection is expensive and time-consuming,and we may not be able to prosecute all necessary or desirable patent applica
239、tions at a reasonable cost or in a timely manner all the waythrough to the successful issuance of a patent.We may choose not to seek patent protection for certain innovations and may choose not to pursue patent protection in certain jurisdictions.Inaddition,issuance of a patent does not guarantee th
240、at we have an absolute right to practice the patented invention.If we fail to acquire the necessary intellectual property rights or adequately protect or assert our intellectual property rights,competitors may dilute our brands or manufacture and market similarproducts and services or convert our cu
241、stomers,which could adversely affect our market share and results of operations.We may not receive patents or trademarks for all our pending patent andtrademark applications,and existing or future patents or licenses may not provide competitive advantages for our products and services.Furthermore,it
242、 is possible that our patent applicationsmay not issue as granted patents,that the scope of our issued patents will be insufficient or not have the coverage originally sought,or that our issued patents will not provide us with anycompetitive advantages.Our competitors may challenge,invalidate or avo
243、id the application of our existing or future intellectual property rights that we obtain or license.In addition,patentrights may not prevent our competitors from developing,using or selling products or services that are similar to or address the same market as our products and services.The loss of p
244、rotection2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm35/378for our intellectual property rights could reduce the market value of our brands and our product
245、s and services,reduce new customers originations or upgrade sales to existing customers,lowerour profits,and could have a material adverse effect on our business,financial condition,cash flows or results of operations.182025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f
246、1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm36/378 Our policy is to require our employees that were hired to develop material intellectual property included in our products to execute written agreements in which they assign to us their
247、 rights inpotential inventions and other intellectual property created within the scope of their employment(or,with respect to consultants and service providers,their engagement to develop suchintellectual property),but we cannot assure you that we have adequately protected our rights in every such
248、agreement or that we have executed an agreement with every such party.Finally,inorder to benefit from the protection of patents and other intellectual property rights,we must monitor and detect infringement,misappropriation or other violations of our intellectual propertyrights and pursue infringeme
249、nt,misappropriation or other claims in certain circumstances in relevant jurisdictions,all of which are costly and time-consuming.As a result,we may not be able toobtain adequate protection or to effectively enforce our issued patents or other intellectual property rights.In addition to patents and
250、registered trademarks,we rely on trade secret rights,copyrights and other rights to protect our unpatented proprietary intellectual property and technology.Despite ourefforts to protect our proprietary technologies and our intellectual property rights,unauthorized parties,including our employees,con
251、sultants,or service providers,may attempt to copy aspectsof our products or obtain and use our trade secrets or other confidential information.We generally enter into confidentiality agreements with our employees and third parties that have access toour material confidential information,and generall
252、y limits access to and distribution of our proprietary information and proprietary technology through certain procedural safeguards.Theseagreements may not effectively prevent unauthorized use or disclosure of our intellectual property or technology,could be breached or otherwise may not provide mea
253、ningful protection for ourtrade secrets and know-how related to the design,manufacture or operation of our products and may not provide an adequate remedy in the event of unauthorized use or disclosure.We cannotassure you that the steps taken by us will prevent misappropriation of our intellectual p
254、roperty or technology or infringement of our intellectual property rights.Competitors may independentlydevelop technologies or products that are substantially equivalent or superior to our solutions or that inappropriately incorporate our proprietary technology into their products or they may hireou
255、r former employees who may misappropriate our proprietary technology or misuse our confidential information.In addition,if we expand the geography of our service offerings,the laws ofsome foreign countries where we may do business in the future do not protect intellectual property rights and technol
256、ogy to the same extent as the laws of Singapore,and these countries maynot enforce these laws as diligently as government agencies and private parties in Singapore.From time to time,legal action by us may be necessary to enforce our patents and other intellectual property rights,to protect our trade
257、 secrets,to determine the validity and scope of theintellectual property rights of others or to defend against claims of infringement,misappropriation or invalidity.Such litigation could result in substantial costs and diversion of resources andcould negatively affect our business,operating results
258、and financial condition.If we are unable to protect our intellectual property and technology,we may find ourselves at a competitivedisadvantage to others who need not incur the additional expense,time and effort required to create the innovative products that have enabled us to be successful to date
259、.Unauthorized use of our brand names by third parties,and the expenses incurred in developing and preserving the value of our brand names,may materially adversely affect our business.Our brand names are critical to our success.Unauthorized use of our brand names by third parties may materially adver
260、sely affect our business and reputation,including the perceived qualityand reliability of our products and services.We rely on patents,trademark law,company brand name protection policies,and agreements with our employees,customers,business partners,andothers to protect the value of our brand names.
261、Despite our precautions,we cannot provide assurance that those procedures are sufficiently effective to protect against unauthorized third-partyuse of our brand names.Third parties may use our brand names to engage in fraudulent activities,including unauthorized telemarketing conducted in our names
262、to induce our existing customersto switch to competing service providers,lead generation activities for competitors,and obtaining personally identifiable or personal financial information.Third parties sometimes use ournames and trademarks,or other confusingly similar variations thereof,in other con
263、texts that may impact our brands.We may not be successful in detecting,investigating,preventing,orprosecuting all unauthorized third-party use of our brand names.Future litigation with respect to such unauthorized use could also result in substantial costs and diversion of our resources.These factor
264、s could materially adversely affect our reputation,business,financial condition,results of operations,and cash flows.We may be subject to class action and other lawsuits which may harm our business and results of operations.We may be subject to litigation involving alleged violations of privacy,cons
265、umer protection laws,employment laws,or other matters.In addition,if we successfully launch our initial publicoffering,we may in the future be subject to securities litigation that may be lengthy and may result in substantial costs and a diversion of managements attention and resources.Results canno
266、tbe predicted with certainty,and an adverse outcome in such litigation could result in monetary damages or injunctive relief that could materially adversely affect our business,financialcondition,results of operations,and cash flows.2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/00012139002410974
267、7/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm37/378 In addition,we are currently and may in the future become subject to legal proceedings and commercial or contractual disputes other than class actions.These are typically
268、claims that arise inthe normal course of business including,without limitation,commercial general liability claims,automobile liability claims,contractual disputes,workers compensation claims,labor law andemployment claims,personal injuries,property damage,and claims that we infringed on the intelle
269、ctual property of others.There is a possibility that such claims may have a material adverseeffect on our business,financial condition,results of operations,and cash flows that is greater than we anticipate and/or negatively affect our reputation.192025/1/8 15:19sec.gov/Archives/edgar/data/2001794/0
270、00121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm38/378 Our historical performance in revenues and other operating and financial results should not be considered indicative of our future performance.Prior growth
271、 rates in revenues and other operating and financial results should not be considered indicative of our future performance.Revenue for the six months ended June 30,2024 and 2023was$5,393,844 and$5,635,287,respectively,representing a decrease of 4%.For the six months ended June 30,2024 and 2023,we in
272、curred a net(loss)/profit of$(83,218,041)and$970,304,respectively.Revenue for the years ended December 31,2023 and 2022 was$10,655,993 and$5,006,345,respectively,representing an increase of 113%.For the fiscal years endedDecember 31,2023,and 2022,we incurred a net profit/(loss)of$994,194 and$(803,98
273、0),respectively.Our future performance and operating results depend on,among other things:(1)ourability to renew and/or upgrade contracts with existing customers and maintain customers satisfaction with existing customers;(2)our ability to generate new customers;(3)our ability toincrease the density
274、 of our customers base for existing service locations or continue to expand into new geographic markets;(4)our ability to successfully develop and market new andinnovative products and services;(5)the level of product,service and price competition;(6)the degree of saturation in,and our ability to fu
275、rther penetrate,existing markets;(7)our ability tomanage growth,revenues,origination or acquisition costs of new customers and attrition rates,the cost of servicing our existing customers and general and administrative costs;and(8)ourability to attract,train and retain qualified employees.If our fut
276、ure operating and financial results suffer as a result of any of the other reasons mentioned above,or any other reasons,there couldbe a material adverse effect on our business,financial condition,cash flows or results of operations.The security of our information and technology networks is critical
277、to the safety of our customers and success of our business,and failure to maintain the security of our information andtechnology networks could damage our brand reputation and adversely affect our business.We rely on information technology networks and systems,including the internet,to monitor and m
278、aintain security of the properties that we serve.If we experience disruption or if there aresecurity breaches of our information and technology networks,we may be unable to detect irregularities and emergencies that could occur on the properties we have contracted to protect.Suchfailure could expose
279、 us to substantial economic and legal liability.In addition,we also process,transmit and store electronic information and,in the normal course of our business,we collectand retain certain information pertaining to our distributors,customers,partners and employees,including personal information.If se
280、curity breaches in connection with the delivery of our solutions allow unauthorized third parties to access any of this data or obtain control of our systems,our reputation,business,financialcondition,cash flows and results of operations could be harmed.The legal,regulatory and contractual environme
281、nt surrounding information security,privacy and credit card fraud is constantly evolving and companies that collect and retain such informationare under increasing attack by cyber-criminals around the world.Further,as the regulatory focus on privacy issues continues to increase and worldwide laws an
282、d regulations concerning theprotection of data and personal information expand and become more complex,these potential risks to our business will intensify.A significant actual or potential theft,loss,fraudulent use ormisuse of distributors,customers,employee or other personally identifiable data,wh
283、ether by third parties or as a result of employee malfeasance or otherwise,non-compliance with ourcontractual or other legal obligations regarding such data or a violation of our privacy and security policies with respect to such data could result in loss of confidential information,damage toour rep
284、utation,early termination of our business relationships,litigation,regulatory investigations or actions and other liabilities or actions against us,including significant fines bygovernmental authorities,and private claims by companies and individuals for violation of data privacy and security regula
285、tions.In addition,cyber-attacks from computer hackers and cyber criminals and other malicious internet-based activity continue to increase generally,and perpetrators of cyber-attacks may be able todevelop and deploy viruses,worms,ransomware,malware,DNS attacks,wireless network attacks,attacks on our
286、 cloud networks,phishing attempts,social engineering attempts,distributeddenial of service attacks and other advanced persistent threats or malicious software programs that attack our products and services,our networks and network endpoints or otherwise exploitany security vulnerabilities of our pro
287、ducts,services and networks.Techniques used to obtain unauthorized access or to sabotage systems change frequently and generally are not recognizeduntil launched against a target.As a result,we may be unable to anticipate these techniques or to implement adequate preventative measures.We cannot be c
288、ertain that advances in cyber-capabilities or other developments will not compromise or breach the technology protecting the networks that access our platforms and solutions,and we can make no assurance that we will beable to detect,prevent,timely and adequately address or mitigate the negative effe
289、cts of cyber-attacks or other security breaches.If any one of these risks materializes,our business,financialcondition,cash flows or results of operations could be materially and adversely affected.2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:
290、/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm39/378We must successfully upgrade and maintain our information technology systems.We rely on various information technology systems to manage our operations.As necessary,we implement modifications and upgrades to
291、 these systems,and replace certain of our legacysystems with successor systems with new functionality.There are inherent costs and risks associated with modifying or changing these systems and implementing new systems,including potential disruption of our internal control structure,substantial capit
292、al expenditures,additional administration and operating expenses,retention of sufficiently skilled personnel to implement and operate the new systems,demands onmanagement time and other risks and costs of delays or difficulties in transitioning to new systems or of integrating new systems into our c
293、urrent systems.While management seeks to identifyand remediate issues,we can provide no assurance that our identification and remediation efforts will be successful or that we will not encounter additional issues as we complete theimplementation of these and other systems.In addition,our information
294、 technology system implementations may not result in productivity improvements at a level that outweighs the costs ofimplementation,or at all.The implementation of new information technology systems may also cause disruptions in our business operations and have an adverse effect on our business,cash
295、flows and operations.202025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm40/378 We rely on third-party providers of telecommunication technologies and services f
296、or our monitoring operations.Our monitoring services depend upon third-party cellular and other telecommunications providers to communicate signals to and from our customers in a timely,cost-efficient and consistentmanner.The failure of one or more of these providers to transmit and communicate sign
297、als in a timely manner could affect our ability to provide services to our customers.There can be noassurance that third-party telecommunications providers and signal processing centers will continue to transmit and communicate signals to or from our third-party providers and the monitoringstations
298、without disruption.Any such disruption,particularly one of a prolonged duration,could have a material adverse effect on our business.In addition,failure to renew contracts withexisting providers or to contract with other providers on commercially acceptable terms or at all may adversely impact our b
299、usiness.We rely on certain third-party providers of licensed software and services integral to the operations of our business.Certain aspects of the operation of our business depend on third-party software and service providers.We rely on certain software technology that we license from third partie
300、s and use in ourproducts and services to perform key functions and provide critical functionality.With regard to licensed software technology,we are,to a certain extent,dependent upon the ability of thirdparties to maintain,enhance or develop their software and services on a timely and cost-effectiv
301、e basis,to meet industry technological standards and innovations to deliver software and servicesthat are free of defects or security vulnerabilities,and to ensure their software and services are free from disruptions or interruptions.Further,these third-party services and software licensesmay not a
302、lways be available to us on commercially reasonable terms or at all.If our agreements with third-party software or services vendors are not renewed or the third-party software or services become obsolete,fail to function properly,are incompatible with futureversions of our products or services,are d
303、efective or otherwise fail to address our needs,there is no assurance that we would be able to replace the functionality provided by the third-partysoftware or services with software or services from alternative providers.Any of these factors could have a material adverse effect on our financial con
304、dition,cash flows or results of operations.Reliance on external security vendors may increase our operational and financial risks.Our Company increasingly relies on external security vendors to supply and deploy security personnel to meet the specific needs of our customers.This reliance is due,in p
305、art,to fluctuatingdemand and the operational flexibility these vendors offer.However,outsourcing security personnel carries several operational and financial risks.External vendors may have differentstandards for training,oversight,and compliance,potentially impacting the consistency and quality of
306、our security services.This reduced control can lead to lapses in service quality,compliance issues,and reputational risks if vendors fail to meet customer expectations or our internal standards.Additionally,as external vendor fees and labor costs fluctuate,our dependenceon outsourced security guards
307、 could lead to increased operational costs,adversely affecting our profit margins and financial stability.The need to subcontract security personnel may also reflect challenges in customer adoption of our technology solutions,which are designed to reduce reliance on manual labor and improveefficienc
308、y.As digitalization of security services progresses,customers who resist these changes or prefer traditional,labor-intensive security methods may opt for services that are lessdependent on technology,potentially impacting our competitive position in the market.If our efforts to drive customer adopti
309、on of technology-based solutions are unsuccessful,or if resistanceto technological integration remains high,our ability to maintain and grow our customer base could be compromised,affecting both our business model and financial results.The loss or changes to our senior management could disrupt our b
310、usiness.Competition for senior management talent having security experience has increased.Factors that impact our ability to attract and retain senior management include compensation and benefitsand our successful reputation as a top provider in these industries.Our success partly depends on our sen
311、ior management and key employees ability to effectively implement our businessstrategies and to continue to identify and grow talent through our annual strategic talent planning process.In addition,the success of each of our segments depends on a highly qualified leaderwith relevant industry and ope
312、rational experience,as well as its entire management team.The unexpected loss of any member of our senior management team and the related loss of theirknowledge of products,offerings,and industry experience,and the difficulty of quickly finding qualified senior management talent to replace any such
313、loss,could have a material adverse effecton our business,financial condition,results of operations,and cash flows.2025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.
314、htm41/378 We may be adversely affected by global economic and political instability.As we seek to continue to expand our business,our overall performance will depend in part on worldwide economic and geopolitical conditions.Economies domestically and internationallyhave been affected from time to ti
315、me by falling demand for a variety of goods and services,restricted credit,poor liquidity,reduced corporate profitability,employment pressures in servicessectors,volatility in credit,equity and foreign exchange markets,bankruptcies and outbreaks of variants of COVID-19,as well as war between Russia
316、and Ukraine,conflict between Israel andGaza,terrorist activity,political or social unrest,civil strife and other geopolitical uncertainty,and the resulting impact on business continuity and travel,supply chain disruptions,inflation,security issues,and overall uncertainty with respect to the economy,
317、including with respect to tariff and trade issues.To the extent that inflationary pressures and other global factors lead to aneconomic recession,demand for our solutions,our business and financial condition could be negatively impacted.On February 24,2022,Russian military forces invaded Ukraine,and
318、 continued conflict and disruption in the region is likely.Although the length,impact and outcome of the ongoing militaryconflict in Ukraine is highly unpredictable,this conflict could lead to significant market and other disruptions,including significant volatility in commodity prices and supply of
319、 energyresources,instability in financial markets,supply chain interruptions,political and social instability,changes in consumer or purchaser preferences as well as an increase in cyberattacks andespionage.212025/1/8 15:19sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concord
320、e.htmhttps:/www.sec.gov/Archives/edgar/data/2001794/000121390024109747/ea0224735-f1a4_concorde.htm42/378 On October 7,2023,the Palestinian Sunni Islamist group Hamas(a U.S.-designated foreign terrorist organization,or FTO)led surprise attacks against Israel from the Gaza Strip by land,sea,and air.Th
321、e assault came on a Jewish holiday,50 years after the Egypt-Syria surprise attack that sparked the 1973 Yom Kippur War.The attacks scope and lethality against Israel have noprecedent in the 16 years Hamas has controlled Gaza,and the nature of the violence stunned Israelis.Since the attack,Israels Pr
322、ime Minister Benjamin Netanyahu has declared war againstHamas.Israel has initiated air strikes and reportedly localized raids,but the questions of whether it will launch a ground assault,and,if it does,how extensive such a ground assault might be,loom large.The Israel Defense Forces has said it plan
323、s a wide-ranging offensive against Hamas,including coordinated attacks by land,air,and sea.We are actively monitoring the Russia-Ukraine and Israel-Gaza situations and assessing their impact on our business,but to date have not experienced any material impact.We have no way topredict the progress or
324、 outcome of the conflict in these afflicted countries,and any resulting government reactions,are rapidly developing and beyond our control.The extent and duration of themilitary action,sanctions and resulting market disruptions could be significant and could potentially have a substantial impact on
325、the global economy and our business for an unknown period oftime.As the adverse effects of this conflict continue to develop and potentially spread,both in Europe and Middle East and through the rest of the world,our customers,and customer behavior,may be negatively impacted,which could negatively a
326、ffect sales and sales cycles and overall demand for our products and services.Further or prolonged impacts on the global economy couldalso cause businesses to curtail business expenses,which could hinder our ability to attract new customers or result in a decrease in revenue.It is not possible to pr
327、edict the ultimate broaderconsequences of those conflict and any of the abovementioned factors could have a material adverse effect on our business,financial condition and results of operations,particularly to theextent the conflict escalates to involve additional countries,further economic sanction
328、s and wider military conflict.Any such disruptions could also magnify the impact of other risks describedin this prospectus.In addition,inflation rates globally have increased rapidly in the past several years,which may result in decreased demand for our products and services,increases in our operat
329、ing costsincluding our labor costs,constrained credit and liquidity,and volatility in financial markets.There continues to be uncertainty in the changing market and economic conditions,including thepossibility of additional measures that could be taken by central banks and other government agencies.
330、All of the abovementioned factors could have an adverse impact on our financial results.The outbreak of the COVID-19 pandemic has and may continue to adversely affect the Companys business and results of operations.The rapid and continued spread of COVID-19,and the measures taken to slow its spread,
331、have adversely affected the Companys business and financial results.On May 5,2023,the WHOended the emergency status for COVID-19.However,COVID-19 is still a significant public health problem and may continue to challenge health systems worldwide in the long term.TheCOVID-19 pandemic negatively impac
332、ted our companys business.During the pandemic,the demand for our services changed significantly.We experienced a decrease in the demand for ourniche technology-integrated services,while more customers sought traditional security guards.Currently,COVID-19 no longer poses a threat to our business,and
333、we have adapted ourtechnology to meet the needs that arose during the pandemic.Despite the Companys efforts to manage these impacts and the positive growth in our revenue,due to the evolving situation with COVID-19,the effect on the Companys operational andfinancial performance will depend on future developments,all of which are uncertain and difficult to predict and in the future may have materia
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