Financial Performance - Total revenue for the year ended December 31, 2022, reached HKD 8,062.7 million, a 12.0% increase from HKD 7,195.9 million in 2021[2] - Annual profit increased by 16.1% to HKD 1,268.2 million, compared to HKD 1,092.2 million in the previous year[2] - The company's net profit for the year was HKD 1,268,203 thousand, reflecting a 16.1% increase compared to HKD 1,092,242 thousand in the previous year[16] - The company's earnings per share (EPS) increased by 18.3% to HKD 1.170 for the year ended December 31, 2022, compared to HKD 0.989 in 2021[17] - The gross profit for the year was HKD 3,306,141 thousand, compared to HKD 2,827,197 thousand in the previous year, indicating a gross margin improvement[40] - The operating profit for the year was HKD 1,429,342 thousand, an increase from HKD 1,277,972 thousand in 2021, showing a growth of about 11.8%[40] - The total equity attributable to the company's shareholders was HKD 6,934,826 thousand, compared to HKD 6,487,129 thousand in the previous year, reflecting an increase of 6.9%[43] - The total liabilities amounted to HKD 2,584,479 thousand, an increase from HKD 2,364,722 thousand, representing a rise of 9.3%[43] - The company reported a decrease in other income to HKD 64,915 thousand from HKD 96,315 thousand in the previous year, a decline of about 32.5%[40] - The company incurred a total tax expense of HKD 162,905,000 for the year, compared to HKD 182,205,000 in 2021[59] Revenue Breakdown - Sales of Android smart payment terminals grew significantly by 37.4% to HKD 4,438.3 million, accounting for over 50% of total revenue[5] - Revenue from electronic payment terminal products increased by 11.7% to HKD 7,836.70 million in 2022, driven by strong sales of Android smart terminals[19] - Service revenue grew by 25.1% to HKD 226.00 million, primarily due to increased income from SaaS solutions[21] - The company operates primarily in China, with revenue from external customers in China (excluding Hong Kong, Macau, and Taiwan) amounting to HKD 6,874,227 thousand[53] Market Performance - The company achieved a strong performance in the EMEA region with a revenue growth of 41.5%, surpassing HKD 2.5 billion for the first time[7] - In Latin America, the company maintained its position as the leading payment terminal supplier for five consecutive years, despite economic challenges in Brazil[6] - In North America, the company reported a 35.4% year-on-year sales increase, surpassing HKD 1 billion for the first time, with Android product sales growing over 60% compared to the previous year[10] - In the Asia-Pacific region, the company achieved record sales in India, with sales growth driven by the shift from traditional payment terminals to Android smart payment solutions, particularly the A series products[8] - In Indonesia, sales more than doubled, supported by government initiatives under the "2025 Indonesian Payment System Blueprint," positioning Indonesia as a key growth driver for the company in the Asia-Pacific region[9] Strategic Initiatives - The company plans to enhance its MAXSTORE platform, which has integrated over 8 million payment terminals and offers more than 8,500 software and business applications[5] - The company plans to continue investing in payment acceptance technology solutions, focusing on product innovation, quality, and security for 2023[11] - The company aims to expand its global sales network and strengthen partnerships to increase market share in international markets[13] - The company has set clear development goals to explore potential markets in Southeast Asia, the Middle East, and Africa, while seeking synergistic acquisition and investment opportunities[14] - The company is committed to strengthening supply chain management and flexibility to capture future market opportunities, with a new industrial park in Huizhou expected to be completed by the end of 2023[15] Employee and Governance - The total number of employees as of December 31, 2022, was 1,712, up from 1,654 in 2021, reflecting a growth of approximately 3.5%[36] - The company has maintained a focus on ensuring competitive compensation packages for employees, including fixed salaries and performance-related bonuses[38] - The board of directors includes three executive directors and three independent non-executive directors[85] - The company is committed to transparency and governance as indicated by the board structure[85] Dividends and Shareholder Returns - The interim dividend declared for 2022 was HKD 0.17 per share, totaling approximately HKD 183,341,000, compared to HKD 0.12 per share and HKD 131,636,000 in 2021, marking an increase of about 39.2%[65] - The proposed final dividend for 2022 is HKD 0.19 per share, amounting to approximately HKD 205,165,000, compared to HKD 0.15 per share and HKD 162,855,000 in 2021, representing an increase of about 27.0%[65] - The total dividend per share for the year ending December 31, 2022, is HKD 0.36, compared to HKD 0.27 in 2021, reflecting a 33% increase[78] Financial Position - Cash and cash equivalents amounted to HKD 3,160.20 million as of December 31, 2022, down from HKD 3,533.00 million in 2021, with no borrowings reported[29] - Current ratio was 3.3 and quick ratio was 2.2 as of December 31, 2022, indicating strong liquidity[30] - The total assets as of December 31, 2022, amounted to HKD 9,490,329 thousand, an increase from HKD 8,821,278 thousand in 2021, reflecting a growth of about 7.6%[42] - The cash and cash equivalents as of December 31, 2022, were HKD 3,160,238 thousand, down from HKD 3,532,954 thousand in the previous year, indicating a decrease of approximately 10.6%[42] Compliance and Audit - The audit committee has reviewed the accounting policies and the audited consolidated financial statements for the year ending December 31, 2022, ensuring accuracy in financial reporting[82] - The company has adopted a written code of conduct for securities transactions, confirming compliance with the standards set forth in the listing rules[80] - The company has maintained sufficient public float as per listing rules throughout the year, ensuring compliance with regulatory requirements[83]

Financial Performance - Revenue increased by 26.0% to HK$4,182.5 million for the six months ended 30 June 2022, compared to HK$3,318.7 million for the same period in 2021[22]. - Gross profit rose by 25.9% to HK$1,671.3 million, with a gross profit margin of 40.0%[13][17]. - Operating profit increased by 31.7% to HK$781.1 million, resulting in an operating profit margin of 18.7%[13][17]. - Profit for the period surged by 35.7% to HK$703.8 million, with a net profit margin of 16.8%[13][17]. - Earnings per share (basic) rose by 37.4% to HK$0.646, while diluted earnings per share increased by 38.7% to HK$0.631[16]. - Profit for the period was HK$703.8 million, representing an increase of 35.7% compared to HK$518.6 million for the six months ended 30 June 2021[32]. - Profit attributable to the owners of the Company increased by 35.9% to HK$699.8 million for the six months ended 30 June 2022 from HK$515.0 million for the same period in 2021[32]. Revenue Sources - Sales of e-payment terminals increased by 26.5% to HK$4,090.9 million, indicating strong market demand[24]. - Revenue from E-payment Terminals products increased by 26.5% to HK$4,091.0 million for the six months ended 30 June 2022 from HK$3,232.9 million for the same period in 2021[27]. - Revenue from provision of services increased by 6.7% to HK$91.5 million for the six months ended 30 June 2022 from HK$85.8 million for the same period in 2021, mainly due to growth in SaaS solutions[27]. Regional Performance - The EMEA region recorded a significant revenue growth of 62.2%, reaching HK$1,429.1 million[21]. - Sales in the EMEA region grew by 62.2% year-on-year, driven by strong demand for flagship models A920Pro and A920[45]. - PAX's revenue increased by 26.0% to HK$4,182.5 million in the first half of 2022, with significant success in the EMEA and USCA regions[39]. - In India, digital payments are projected to account for nearly 65% of all transactions by 2026, presenting significant growth opportunities for PAX[47]. Expenses and Costs - Research and development costs increased by 15.3% to HK$266.9 million, reflecting the company's commitment to innovation[13]. - Selling expenses increased by 14.3% to HK$381.4 million for the six months ended 30 June 2022 from HK$333.7 million for the same period in 2021[30]. - Administrative expenses increased by 22.0% to HK$541.3 million for the six months ended 30 June 2022 from HK$443.7 million for the same period in 2021, mainly due to increased employee benefit expenses for R&D staff[31]. Dividends and Shareholder Returns - Interim dividend per ordinary share increased by 41.7% to HK$0.170, reflecting the company's strong financial performance[16]. - The interim dividend declared is HK$0.17 per ordinary share, an increase from HK$0.12 per ordinary share for the same period last year, representing a rise of approximately 41.67%[76]. Cash Flow and Assets - Total current assets grew by 4.3% to HK$8,125.3 million, while total assets increased by 5.2% to HK$9,279.9 million[14]. - As of June 30, 2022, the Group had cash and cash equivalents of HK$2,980.7 million, a decrease from HK$3,533.0 million as of December 31, 2021[55]. - For the six months ended June 30, 2022, net cash used in operating activities was HK$34.6 million, a significant decrease from HK$247.5 million for the same period in 2021[55]. - The Group reported net current assets of HK$5,665.3 million as of June 30, 2022, compared to HK$5,526.6 million as of December 31, 2021[55]. Market Expansion and Strategy - The ongoing shift towards Android smart payment terminal solutions is driven by government initiatives and the demand for cashless payment solutions[38]. - The company is focusing on R&D to develop innovative products and diversify its terminal and software solutions, reinforcing its one-stop payment ecosystem[54]. - The company aims to strengthen its global sales network and enhance its leadership position in international markets by seeking more strategic partnerships and expanding its market segments[54]. - The company plans to explore other markets with growth potential and continue seeking M&A and investment opportunities to deliver synergies to its business[54]. Employee and Governance - The total number of employees as of June 30, 2022, was 1,642, a slight decrease from 1,654 as of December 31, 2021[67]. - The Group sponsors selected employees for external training courses to enhance their skills relevant to the Group's business needs[72]. - The Group's remuneration packages for employees include fixed monthly income plus annual performance-related bonuses[71]. - The corporate governance practices are based on the principles and code provisions set out in the Corporate Governance Code[106]. Financial Risk Management - The Group's financial risk management focuses on minimizing potential adverse effects on financial performance due to market unpredictability[137]. - The Group's overall risk management program aims to address market risks, including foreign exchange risk and liquidity risk[137]. - There were no significant changes in risk management policies since December 31, 2021[137].

Financial Performance - Revenue for the year ended December 31, 2021, increased to HK$7,195,982, representing a growth of 27.3% compared to HK$5,650,619 in 2020[11]. - Gross profit for 2021 was HK$2,827,197, with a gross profit margin of 39.3%, down from 41.4% in 2020[11][13]. - Operating profit rose to HK$1,277,972, reflecting an increase of 19.7% from HK$1,067,172 in the previous year[11]. - Profit attributable to the owners of the Company for 2021 was HK$1,083,774, a 20.3% increase from HK$900,123 in 2020[11]. - Profit for the year was HK$1,092.2 million, an increase of 20.8% compared to HK$903.9 million in 2020[61]. - Profit attributable to the owners of the Company was HK$1,083.8 million, up 20.4% from HK$900.1 million in 2020[61]. - The Group's revenue for 2021 reached HK$7,196.0 million, representing a 27.3% increase from HK$5,650.6 million in 2020[61]. - Revenue from E-payment Terminals products rose by 26.8% to HK$7,015.2 million for the year ended 31 December 2021, compared to HK$5,532.2 million in 2020[90]. - Revenue from provision of services increased by 52.6% to HK$180.7 million for the year ended 31 December 2021, up from HK$118.4 million in 2020, primarily due to growth in SaaS solutions[90]. Research and Development - Research and development costs amounted to HK$512,119, up from HK$460,772 in 2020, indicating a focus on innovation[11]. - PAX has consistently invested in R&D, focusing on new-generation Android smart payment terminals and enhancing the PAXSTORE platform[64]. - PAX plans to prioritize R&D investment in Android smart terminals and the PAXSTORE platform to enhance product offerings and security measures[74]. - The company plans to invest $10 million in R&D for innovative payment solutions over the next two years[55]. Market Expansion and Product Development - The company is expanding its product offerings with new Android smart e-payment solutions and electronic cash register solutions, enhancing its market presence[20][21]. - The company is actively pursuing market expansion and product development to maintain its competitive edge in the payment solutions industry[25][27]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[57]. - New product development includes the launch of advanced E-payment terminals, expected to enhance market competitiveness[56]. - Significant sales growth was achieved in Saudi Arabia, Egypt, and Nigeria, with increased market share in the GCC countries[69]. - PAX successfully launched the world's first Android smart PayPhone in Brazil during the year[68]. Financial Position and Assets - Total current assets reached HK$7,790,106, an increase from HK$6,955,116 in 2020[11]. - The company reported a net current assets value of HK$5,526,563, up from HK$5,000,797 in the previous year[11]. - Total equity increased by 15.8% to HK$6,456,556, up from HK$5,573,572 in the previous year[81]. - The Group's cash and cash equivalents totaled HK$3,533.0 million, a decrease from HK$3,805.8 million in 2020[116]. - The Group reported net current assets of HK$5,526.6 million as of December 31, 2021, compared to HK$5,000.8 million in 2020, indicating a growth of approximately 10.5%[116]. Corporate Governance - The Board consists of six members, including three executive Directors and three independent non-executive Directors, ensuring a balanced composition for effective independent judgment[143]. - The Company has established written guidelines regulating securities transactions for Directors and senior management, adhering to standards no less exacting than the Model Code[138]. - The overall management of the Company's business is vested in the Board, which is collectively responsible for promoting the Company's success through effective leadership and control[139]. - The Company emphasizes the importance of good corporate governance for healthy growth and has formulated practices appropriate to its needs[134]. - The Board periodically reviews and monitors corporate governance policies to ensure compliance with applicable laws and standards[134]. Risk Management - Risk management strategies have been enhanced to mitigate potential market volatility impacts[53]. - The Group's policies and practices on corporate governance are regularly reviewed and monitored by the Board[196]. - The Board has developed the Group's internal control and risk management systems, acknowledging its overall responsibility for maintaining effective risk management and internal control systems[199]. Employee and Management - The total number of employees decreased to 1,654 as of December 31, 2021, from 1,677 in 2020, reflecting a reduction of approximately 1.4%[127]. - The management team has extensive experience in the electronic payment industry, with key executives having over 20 years of relevant experience[48]. - The management considers foreign exchange risk with respect to US$ to be not significant due to the peg between HK$ and US$[125]. Shareholder Returns - Proposed final dividend per ordinary share increased by 50.0% to HK$0.15 from HK$0.10 in 2020[12]. - The Board recommended a final dividend of HK$0.15 per ordinary share, totaling approximately HK$162,855,000[61]. - The Group conducted multiple share buybacks, repurchasing 13.2 million ordinary shares for approximately HK$86.6 million[66].

Financial Performance - Revenue increased by 26.2% to HK$2,366.3 million for the six months ended June 30, 2019, compared to HK$1,875.6 million for the same period in 2018[12]. - Gross profit rose by 26.6% to HK$914.4 million, with a gross profit margin of 38.6%[12]. - Operating profit increased by 22.4% to HK$370.5 million, resulting in an operating profit margin of 15.7%[12]. - Profit for the period attributable to owners of the Company was HK$325.5 million, reflecting a growth of 25.9%[12]. - Earnings per share for the period attributable to owners of the Company was HK$0.296, up 26.0% from HK$0.235[12]. - Profit for the period was HK$325.2 million, representing an increase of 27.9% compared to HK$254.3 million for the six months ended June 30, 2018[27]. - Total comprehensive income for the period was HK$321,659, compared to HK$296,449 in 2018[99]. - For the six months ended June 30, 2019, the company reported a profit of HK$325,463,000, compared to HK$258,479,000 for the same period in 2018, representing a year-over-year increase of approximately 25.9%[107]. Revenue Sources - Turnover from overseas markets grew by 38.7% to HK$2,206.9 million, while turnover from the China Market decreased by 43.9% to HK$159.4 million[13]. - Overseas markets contributed 93.3% of total revenue, up from 84.8% in the previous year[18]. - Turnover from the China Market decreased by 43.9% to HK$159.4 million, down from HK$284.3 million, contributing only 6.7% of total revenue[18]. - Sales of E-payment Terminals products increased by 26.6% to HK$2,322.4 million for the six months ended June 30, 2019, compared to HK$1,834.7 million in the same period of 2018[22]. - Services income rose by 7.2% to HK$43.8 million, up from HK$40.9 million for the same period in 2018[23]. Expenses and Costs - Research and development expenses increased by 30.4% to HK$187.6 million, included in administrative expenses[12]. - Selling expenses increased by 18.0% to HK$227.0 million for the six months ended June 30, 2019, compared to HK$192.4 million for the same period in 2018[27]. - Administrative expenses rose by 24.2% to HK$326.5 million for the six months ended June 30, 2019, up from HK$262.8 million for the same period in 2018, primarily due to increased staff costs in the R&D department[27]. Assets and Liabilities - Total current assets increased by 13.7% to HK$6,073.5 million as of June 30, 2019[12]. - Total assets rose by 13.2% to HK$6,539.9 million, with total equity increasing by 6.6% to HK$4,490.3 million[12]. - Current liabilities increased to HK$2,008,943 from HK$1,540,982 at the end of 2018[102]. - Non-current liabilities totaled HK$40,723, compared to HK$21,964 at the end of 2018[102]. - The Group reported net current assets of HK$4,064.6 million as of June 30, 2019, up from HK$3,802.8 million as of December 31, 2018[54]. Cash Flow and Dividends - The net cash generated from operating activities for the six months ended June 30, 2019, was HK$486.4 million, compared to a net cash used of HK$101.8 million for the same period in 2018[54]. - The Group declared an interim dividend of HK$0.04 per ordinary share for the six months ended June 30, 2019, the same as the previous year[68]. - The company paid dividends totaling HK$44,008,000 during the period, consistent with the previous year[107]. Market and Strategic Developments - The significant growth in overseas markets was particularly notable in the LACIS and APAC regions[19]. - The decline in the China Market was attributed to ongoing intense price competition[19]. - The Group is focusing on serving reputable customers and strengthening risk management in response to increasing credit risks in the China market[46]. - The Group is focusing on the development of self-service payment terminals, with the SmartKiosk series set to launch in the second half of 2019[50]. - PAXSTORE has been launched in over 70 marketplaces by the end of the first half of 2019, enhancing terminal estate administration and customer relationship management[33]. Share Options and Corporate Governance - The Group operates two share option schemes, one adopted on December 1, 2010, and another on May 2, 2019, each valid for 10 years[68]. - The Group has not entered into agreements or purchased instruments to hedge exchange rate risks, which may impact operating results due to fluctuations in HK$ or RMB[60]. - The Company has established written guidelines regulating securities transactions by senior management and employees with access to inside information[86]. - The Company has complied with all applicable corporate governance code provisions for the six months ended June 30, 2019[86]. Financial Risk Management - The Group's financial risk management includes exposure to market risk, credit risk, and liquidity risk[124]. - There have been no significant changes in the risk management policies since December 31, 2018[126]. - The Group's financial instruments are categorized into three levels based on valuation techniques for fair value measurement[128]. Accounting Policies and Changes - The company adopted HKFRS 16 Leases, which resulted in changes to its accounting policies[113]. - The Group did not restate comparatives for the 2018 reporting period as permitted under the transitional provision[115]. - The Group's right-of-use assets recognized are related to office premises, amounting to HK$32,523,000[124]. Employee Information - The total number of employees as of June 30, 2019, was 1,690, with 833 in R&D, 416 in sales and marketing, and 314 in production and inventory control[63]. - Employee benefits expense, including directors' emoluments, rose to HK$292,557,000, compared to HK$219,623,000 in 2018, reflecting a 33.1% increase[167].

Financial Performance - Revenue for the year ended December 31, 2018, was HK$4,415,409,000, representing a 23.0% increase from HK$3,591,080,000 in 2017[9] - Operating profit increased by 49.4% to HK$639,269,000 in 2018, compared to HK$428,023,000 in 2017[9] - Profit for the year rose by 53.1% to HK$515,398,000, up from HK$336,566,000 in the previous year[9] - Basic and diluted earnings per share increased by 29.4% to HK$0.475 in 2018, compared to HK$0.367 in 2017[10] - Total current assets grew by 10.4% to HK$5,343,736,000 in 2018, from HK$4,839,173,000 in 2017[9] - Total equity increased by 8.1% to HK$4,212,608,000 in 2018, compared to HK$3,897,066,000 in 2017[9] - Profit for the year reached HK$515.4 million, up 53.1% from HK$336.6 million in 2017, while profit attributable to owners was HK$522.5 million, a 28.2% increase from HK$407.5 million[80] - Basic earnings per share for the year was 47.5 HK cents, compared to 36.7 HK cents in 2017[80] Market Expansion and Product Development - The company launched new models in 2018, including the Smart E-Payment Solution and All-in-One Smart Electronic Cash Register Solution[22] - The IM Series Unattended Solution was launched in 2018, certified with PCI PTS 5.x, and supports various payment methods and connectivity options including 3G, 4G, WiFi, and Bluetooth[27] - The Traditional E-Payment Solution includes countertop and wireless terminals that accept smart cards, magnetic stripe cards, credit cards, debit cards, and a full range of prepaid products, with most models supporting QR code applications[30] - The Pin Pad Devices are specifically designed for contactless payments, complying with industry standards such as MasterCard's PayPass and Visa's payWave[37] - The Multilane Series, also launched in 2018, features a sleek tablet design with a large high-resolution color screen for displaying merchants' advertising and campaigns[40] - The Mobile E-Payment Solution is lightweight and compact, targeting small and micro merchants, and supports various payment options including bank card payments and NFC contactless[43] - PAXSTORE is a secure cloud-based SaaS platform for creating and managing independent software application marketplaces, along with an integrated terminal management system and smart data analysis[47] Overseas Market Performance - The proportion of total revenue from overseas markets increased to 84.5%, up from 72.5% in the previous year[79] - Shipments of E-payment Terminals reached a record high of over 10 million units, with approximately 6 million units shipped overseas[79] - Overseas market turnover grew by 43.4% to HK$3,732.3 million, while turnover from the China market decreased by 30.9% to HK$683.1 million[100] - The Group is focusing on expanding its market presence in the EMEA region by strengthening partnerships with acquiring banks and payment service providers[85] - The steady growth of third-party payment acquiring businesses in Brazil is driving demand for the Group's solutions in the LACIS region[85] Research and Development - The company is investing in R&D, allocating E% of its revenue towards the development of new technologies and products[72] - The Group plans to focus on R&D for multi-functional all-in-one E-payment Terminals solutions[89] - PAX has increased investment in payment software and platforms to enhance customer loyalty and has launched PAXSTORE in multiple countries[146] - The Group continues to invest in R&D to innovate and launch more diversified E-payment solutions and management platforms in response to growing demand in North America[140] Corporate Governance - The Board consists of six members, including three executive Directors and three independent non-executive Directors, ensuring a balanced composition for effective independent judgment[170] - The Company has established written guidelines regulating securities transactions by senior management and employees likely to possess inside information[168] - The Company has complied with all applicable Code Provisions of the Corporate Governance Code for the year ended 31 December 2018[161] - The Company has adopted a code regulating the securities transactions of Directors and executive officers, ensuring compliance with the Model Code[163] - The day-to-day management of the Company is delegated to senior management, with clear directions and periodic reviews to ensure appropriateness[169] Financial Position and Risk Management - The net current assets increased to HK$3,802.8 million in 2018 from HK$3,521.8 million in 2017, indicating a growth of approximately 8%[154] - The gearing ratio improved to 0.2% as of December 31, 2018, compared to 0.4% in 2017, indicating a healthier capital structure[154] - The management team emphasized the importance of risk management and treasury management in navigating market challenges[69] - The Company has not entered into agreements to hedge exchange rate risks, which may impact operating results due to fluctuations in HK$ or RMB[155] Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of B% and an expected total revenue of $C million[70] - New product launches are anticipated to contribute an additional D million in revenue, with a focus on enhancing user experience and expanding market reach[71] - The Group aims to actively pursue merger and acquisition opportunities to create greater value for customers and shareholders[91] - The Group expects to recognize a potential gain of up to approximately HK$60 million from the liquidation of a subsidiary[122]