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]