Group 1 - The company, Yunzhihui Technology (01037), reported a revenue of 342 million RMB for the six months ending June 30, 2025, representing a year-on-year growth of 32.1% [1] - The net loss for the company was 2.375 million RMB, which narrowed by 85.3% compared to the previous year [1] - The basic loss per share was 0.34 RMB [1] Group 2 - The primary reason for the net loss was a decline in the fair value of a major investment [1] - Excluding the fair value changes of financial assets and gains from the sale of investments, the adjusted net profit increased by 28% year-on-year to 7.5 million RMB [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 MAXNERVA TECHNOLOGY SERVICES LIMITED 雲智匯科技服務有限公司 （於百慕達註冊成立之有限公司） （股份代號：1037） 中期業績 截至二零二五年六月三十日止六個月 概要及摘要 1 • 截至二零二五年六月三十日止六個月，收入同比增長32%至人民幣342.1百萬 元，而淨虧損同比下降85%至人民幣2.4百萬元。 • 淨虧損主要由於我們的一項主要投資的公平值下降所致。倘剔除按公平值計 入損益之金融資產的公平值變動及出售投資收益，於報告期內經調整淨利潤 同比增長28%至人民幣7.5百萬元。 • 董事會並不建議就截至二零二五年六月三十日止六個月派付任何中期股息。 雲智匯科技服務有限公司董事會（「董事會」）謹此宣佈本公司及其子公司（「本集團」） 截至二零二五年六月三十日止六個月的未經審核合併業績，其已由本公司之審核委 員會（「審核委員會」）審閱。 管理層討論及分析 財務回顧 本集團 ...

Core Viewpoint - The company, Yunzhihui Technology (01037.HK), has announced a board meeting scheduled for August 20, 2025, to consider and approve the unaudited interim results for the six months ending June 30, 2025, and the distribution of interim dividends, if any [1] Group 1 - The board meeting will focus on the approval of interim financial results [1] - The meeting will also address the potential distribution of interim dividends [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 MAXNERVA TECHNOLOGY SERVICES LIMITED 雲智匯科技服務有限公司 董事會召開通知 雲智匯科技服務有限公司（「本公司」）董事會（「董事會」）謹此公佈，本公司將 於二零二五年八月二十日（星期三）舉行董事會會議，藉以（其中包括）考慮及批准 本公司及其附屬公司截至二零二五年六月三十日止六個月之未經審核中期業績公告及 派發中期股息（如有）。 承董事會命 雲智匯科技服務有限公司 主席 張傳旺 香港，二零二五年八月七日 於本公告日期，董事會由兩位執行董事張傳旺先生及鄭宜斌先生，三位非執行董事 Kim Hyun Seok先生、張國欽先生及黃碧君女士，以及三位獨立非執行董事簡己然先生、 張曉泉教授及甘志成先生組成。 (於百慕達註冊成立之有限公司) (股份代號: 1037) ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 雲智滙科技服務有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01037 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.1 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.1 | HKD | | 100,000,000 | 本月底法定/註冊股 ...

Business Operations and Strategy - The company provides a full range of smart manufacturing solutions, including ERP, MES, PLM, and WMS systems, aimed at lowering costs and increasing operational efficiency[11]. - The digital life business includes smart office equipment and digital signage, with distribution across Asia-Pacific, EMEA, and the Americas[13]. - The company emphasizes innovation and constant improvement as key to success in the competitive tech industry[20]. - Customer satisfaction is prioritized, with a focus on providing quality products and services at reasonable prices[21]. - The company aims to build sustainable partnerships with qualified vendors to ensure high customer satisfaction[19]. - The long-term success of the company relies on recruiting and retaining talent for new market and product development[19]. - The company operates with a mission to enable clients to conduct business more effectively through digitalization and advanced technology[18]. - The company offers daily IT operating services and post-installation maintenance for its smart manufacturing solutions[11]. - The company manages the supply chain for branded meeting room and lifestyle electronic equipment, enhancing its market presence[13]. - The company is exploring new opportunities in Taiwan and the US markets as part of its international expansion strategy[30]. Financial Performance - Revenue for the year ended December 31, 2024, decreased by 18% to RMB 558.9 million compared to RMB 677.9 million in 2023[34]. - Loss attributable to shareholders for the year ended December 31, 2024, was RMB 12.4 million, a reduction of 26% from RMB 16.8 million in 2023[34]. - Total assets as of December 31, 2024, increased to RMB 654.2 million from RMB 620.1 million in 2023[26]. - Total liabilities as of December 31, 2024, rose to RMB 229.3 million compared to RMB 183.7 million in 2023[26]. - Inventory as of December 31, 2024, was approximately RMB 123.3 million, up from RMB 82.7 million in 2023, with an inventory turnover period increasing from 73 days to 80 days[35]. - Operating and leasing receivables as of December 31, 2024, were approximately RMB 190.6 million, down from RMB 205.3 million in 2023, with a turnover period increasing from 115 days to 129 days[35]. - Adjusted net profit for 2024 was RMB 7.0 million, compared to an adjusted net loss of RMB 5.1 million in 2023[34]. - The company's revenue decreased by 18% to RMB558.9 million in 2024, down from RMB677.9 million in 2023, while the reported net loss decreased by 26% to RMB12.4 million from RMB16.8 million[38]. - The digital industry segment's revenue and profit fell by 20% and 54% year-on-year to RMB325.2 million and RMB18.8 million respectively[48]. - The digital life business experienced a revenue increase of over 7 times year-on-year due to strong recovery in Taiwan's retail sector[51]. Investments and Assets - The company committed RMB 30 million to the Fuhua Fund, which focuses on strategic emerging industries, with an investment valuation of approximately RMB 29.9 million as of December 31, 2024[65]. - The investment in SigmaSense, LLC decreased in valuation to approximately US$4.2 million, with an unrealized loss of about RMB 16.7 million during the reporting year[64]. - The company committed to invest RMB30 million in the GRC SinoGreen Fund, representing approximately 6% of the total capital contributions by partners[67]. - The company invested RMB9 million and RMB21 million in the GRC Fund in 2021 and 2022, respectively[67]. - As of December 31, 2024, the valuation of the investment in the GRC Fund was approximately RMB29.9 million, accounting for about 4.6% of the total asset value of the group[67]. - The unrealized loss from the investment in the GRC Fund during the reporting year was approximately RMB0.4 million[67]. Human Resources and Employment - The new office in Bac Ninh City, Northern Vietnam, opened in early 2024, and the office in Bengaluru, Southern India, is expected to commence operations in the second half of 2025[30]. - The company employed a total of 270 employees as of December 31, 2024, a decrease from 567 employees in 2023[80]. - The company is accelerating local staff deployment and outsourcing strategies in Vietnam, with operations in Bac Ninh City starting in early 2024[59]. Corporate Governance - The board consists of two executive directors, three non-executive directors, and three independent non-executive directors[94]. - At least one independent non-executive director possesses professional qualifications in accounting and related financial management expertise[95]. - The company has a diverse board, with 50% of members being independent non-executive directors as of December 2023, and this is projected to remain stable into December 2024[113]. - The board diversity policy emphasizes the importance of various factors such as gender, age, and professional experience, although there is currently no plan for achieving gender balance[109]. - The board will conduct an annual review of the effectiveness of its governance mechanisms[102]. - The company recognizes the benefits of a diverse board, which enhances the quality of its performance[109]. - The attendance at board meetings shows that independent non-executive directors participated actively, with some attending 4 out of 4 meetings[107]. - The company has established mechanisms to ensure independent views are available to the board, which will be reviewed annually[94]. - The nomination committee is responsible for assessing the independence of all independent non-executive directors annually[98]. - The board of directors meets regularly to discuss the company's overall development, operations, and financial performance, ensuring all significant issues are addressed[125]. Risk Management - The company has established an Enterprise Risk Management (ERM) framework to assist in managing key risks and ensuring compliance with corporate governance principles[170]. - The board oversees the management's design, implementation, and monitoring of risk management and internal control systems, ensuring they are reviewed at least once a year[186]. - The internal audit function continuously reviews major operational, financial, compliance, and risk management controls, proposing enhancements as necessary[181]. - The group has specific functions in place as the second line of defense, including financial control, risk management, compliance, and data protection[180]. - The whistleblowing system allows staff and relevant parties to report misconduct confidentially, ensuring proper follow-up according to established procedures[182]. - The group is committed to sustainability and information security as part of its risk management framework[180]. Shareholder Communication - Shareholders holding at least one-tenth of the paid-up capital have the right to requisition a special general meeting[200]. - The company secretary ensures that all directors have access to the advice and services of the company secretary[191]. - Shareholders are encouraged to maintain direct communication with the company for any inquiries[193]. - The process of the company's general meeting will be regularly monitored and reviewed to best serve shareholders' needs[195]. - The company will reimburse reasonable expenses incurred by requisitionists if directors fail to convene a special general meeting[200].

Financial Performance - Revenue decreased by 18% to RMB 558.9 million, with a reported net loss of RMB 12.4 million for the year ended December 31, 2024[2]. - Adjusted net profit for 2024 was RMB 7.0 million, compared to an adjusted net loss of RMB 5.1 million in 2023[4]. - The company reported a net loss of RMB 12.44 million for 2024, an improvement from a net loss of RMB 16.83 million in 2023, indicating a reduction in losses by 26.5%[25]. - The basic and diluted loss per share for 2024 was RMB 1.77, compared to RMB 2.40 in 2023, reflecting a decrease in loss per share by 26.3%[25]. - The company reported a net financing income of RMB 2,169 thousand in 2024, up from RMB 1,636 thousand in 2023, indicating an increase of approximately 32.5%[55]. - The company recorded a foreign exchange gain of RMB 2,544 thousand in 2024, compared to a loss of RMB 214 thousand in 2023, showing a turnaround in foreign exchange performance[52]. Revenue Breakdown - Digital industrial business revenue decreased by 20% to RMB 325.2 million, with profit dropping 54% to RMB 18.8 million[10]. - Digital life business revenue increased over 7 times, contributing to a total revenue of RMB 233.7 million, despite a 33% decline in sales compared to 2023[11]. - Revenue from related parties, specifically Hon Hai Precision Industry Co., Ltd., accounted for RMB 238,433,000, representing 43% of total revenue, down from 49% in the previous year[46]. - The five largest customers accounted for approximately 27% of total revenue, a decrease from 37% in the previous year[45]. - The company did not generate more than 10% of total revenue from any single customer in the year ending December 31, 2024, compared to 14% from a single customer in the previous year[45]. Assets and Liabilities - Total assets increased to RMB 654.2 million from RMB 620.1 million in 2023, while total liabilities rose to RMB 229.3 million from RMB 183.7 million[6]. - Current assets rose to RMB 557,241 thousand in 2024, up from RMB 512,668 thousand in 2023, indicating an increase of about 8.7%[27]. - Total liabilities increased to RMB 229,277 thousand in 2024 from RMB 183,672 thousand in 2023, marking an increase of around 24.8%[28]. - Total equity decreased to RMB 424,913 thousand in 2024 from RMB 436,451 thousand in 2023, showing a decline of about 2.6%[28]. - Non-current assets decreased to RMB 96,949 thousand in 2024 from RMB 107,455 thousand in 2023, representing a decline of approximately 9.7%[27]. Inventory and Receivables - Inventory increased to RMB 123.3 million from RMB 82.7 million in 2023, with inventory turnover period rising from 73 days to 80 days[5]. - Operating and lease receivables decreased to RMB 190.6 million from RMB 205.3 million in 2023, with turnover period increasing from 115 days to 129 days[5]. - Operating receivables decreased from RMB 274,101 thousand in 2023 to RMB 259,847 thousand in 2024, a decline of approximately 5.5%[61]. - Net operating and leasing receivables also fell from RMB 205,290 thousand in 2023 to RMB 190,581 thousand in 2024, representing a decrease of about 7.1%[61]. - The aging analysis of receivables shows that amounts less than 60 days decreased from RMB 155,549 thousand in 2023 to RMB 132,033 thousand in 2024, a drop of around 15.2%[61]. Workforce and Investments - The company has reduced its workforce to 270 employees as of December 31, 2024, down from 567 employees in 2023, indicating a significant reduction in headcount[24]. - The company is investing RMB 30 million in the Fuhua Fund, which focuses on strategic emerging industries, representing approximately 6% of the total committed capital of the fund[18]. - The investment in SigmaSense, LLC, valued at approximately RMB 4.2 million, accounts for about 4.7% of the company's total assets as of December 31, 2024[17]. - Capital expenditures totaled RMB 11,165,000, with RMB 2,319,000 attributed to the Digital Industrial Business and RMB 8,846,000 to the Digital Life Business[41]. Corporate Governance and Compliance - The company does not recommend any final dividend for the year ended December 31, 2024[2]. - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange regulations, with some deviations noted[65]. - The audit committee reviewed the financial performance and compliance with accounting policies for the year ending December 31, 2024[70]. - The company has not engaged in any purchase, sale, or redemption of its listed securities during the year ending December 31, 2024[69]. - The annual report will be published and made available to shareholders and on the company's website in due course[72].

Financial Performance - Revenue decreased by 26.8% year-on-year to RMB 258.9 million, with a net loss of RMB 16.2 million compared to a net profit of RMB 5.7 million in the first half of 2023[3]. - Adjusted net profit for the reporting period was approximately RMB 5.9 million, similar to the first half of 2023, excluding fair value changes on financial assets[3]. - The company incurred a net loss of RMB 16,198,000 for the six months ended June 30, 2024, compared to a profit of RMB 5,696,000 in the prior year[64]. - The total comprehensive loss for the period was RMB 15,618,000, compared to a comprehensive income of RMB 16,188,000 in the same period last year[64]. - The company reported a loss of RMB 16,198,000 for the six months ended June 30, 2024, compared to a profit of RMB 5,696,000 in the same period of 2023, indicating a significant decline in performance[108]. - The basic loss per share for the six months ended June 30, 2024, was RMB (2.31) compared to RMB 0.81 for the same period in 2023, indicating a negative performance shift[137]. Revenue Breakdown - Digital industrial business revenue and profit decreased by 28.6% and 55.1% year-on-year, respectively, to RMB 139.0 million and RMB 7.9 million[4]. - Digital life business revenue decreased by 24.7% year-on-year, while profit increased by 186.0% to RMB 8.0 million[4]. - The new retail business experienced a significant revenue growth of 303% year-on-year, driven by new projects in Taipei's major commercial areas[13]. - Revenue from the digital industry business decreased by 28.6% year-on-year to RMB139.0 million, with profit down 55.1% to RMB7.9 million due to weak overall demand[11]. - The digital life business saw a revenue decrease of 24.7% year-on-year to RMB120.0 million, but profit increased by 186.0% to RMB8.0 million during the reporting period[11]. Assets and Liabilities - Total assets decreased to RMB575.1 million from RMB620.1 million as of December 31, 2023, with total liabilities at RMB154.2 million and shareholders' equity at RMB420.9 million[6]. - Total liabilities per condensed consolidated balance sheet decreased from RMB 183,672,000 as of December 31, 2023, to RMB 154,215,000 as of June 30, 2024, reflecting a reduction of approximately 16.1%[122]. - The company’s total current liabilities decreased from RMB 178,424,000 to RMB 150,626,000, a reduction of about 15.6%[67]. - The reserves attributable to equity holders decreased from RMB 154,139,000 to RMB 138,558,000, a decline of approximately 10.1%[68]. Cash Flow and Liquidity - As of June 30, 2024, the company's net cash position was RMB183.1 million, a decrease from RMB189.8 million as of December 31, 2023[6]. - Cash and cash equivalents at the end of the period were RMB 183,068,000, down from RMB 189,756,000, indicating a decrease of approximately 3.63%[80]. - Net cash used in operating activities for the six months ended June 30, 2024, was RMB 6,137,000, compared to RMB 28,881,000 for the same period in 2023, showing an improvement in cash flow[80]. - The current ratio improved to 3.3 from 2.9 as of December 31, 2023, indicating a stronger liquidity position[6]. Corporate Governance and Share Options - The board of directors does not recommend any payment of interim dividend for the reporting period[3]. - No share options were granted, exercised, or lapsed under the company's share option schemes during the reporting period[38]. - The 2013 Share Option Scheme was terminated on May 31, 2023, and no further options will be granted under this scheme[38]. - The company has established a mechanism to ensure the company secretary can promptly access the group's developments without material delay[56]. - The company is not aware of any non-compliance with the corporate governance code regarding directors' securities trading during the six months ended June 30, 2024[54]. Market Outlook and Strategic Direction - The global economic environment remains weak with significant uncertainties due to ongoing geopolitical conflicts and rising financing costs in major Western countries[4]. - The company anticipates that the global economy will stabilize in the second half of the year, driven by potential easing of monetary policies in major Western countries[14]. - The company is repositioning its business to reflect new directions following the appointment of new directors and CEO in March 2024[4]. - The company plans to focus on exploring new markets and product categories as part of its near-term business development strategy[20]. Employment and Operational Changes - The company had a total of 272 full-time employees as of June 30, 2024, a significant reduction from 567 employees as of December 31, 2023[60]. - Employment benefit expenses decreased from RMB 65,267,000 in 2023 to RMB 46,481,000 in 2024, a reduction of about 28.7%[123]. - Key management compensation for the six months ended June 30, 2024, totaled RMB 828, an increase from RMB 716 in the same period of 2023, representing a growth of approximately 15.6%[173]. Financial Risks and Management - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[89]. - The Group's financial risk management policies have not changed since the last year end, and the interim financial statements should be read in conjunction with the annual financial statements as of December 31, 2023[89]. - The fair value estimates for financial assets at fair value through profit or loss are made according to the fair value measurement hierarchy under HKFRS 7[89].

Financial Performance - For the six months ended June 30, 2024, revenue decreased by 26.8% to RMB 258.9 million, with a net loss of RMB 16.2 million compared to a net profit of RMB 5.7 million in the same period of 2023[1]. - The adjusted net profit for the reporting period was approximately RMB 5.9 million, similar to the first half of 2023, excluding fair value changes of financial assets[3]. - Revenue for the six months ended June 30, 2024, was RMB 258,925 thousand, a decrease of 26.8% compared to RMB 353,815 thousand for the same period in 2023[16]. - Gross profit for the same period was RMB 49,099 thousand, representing a gross margin of approximately 19%[16]. - The company reported an operating loss of RMB 17,238 thousand for the six months ended June 30, 2024, compared to an operating profit of RMB 10,913 thousand in the previous year[16]. - The company reported a net loss of RMB 16,198 thousand for the six months ended June 30, 2024, compared to a profit of RMB 5,696 thousand in the same period of 2023[17]. - Basic loss per share for the six months ended June 30, 2024, was RMB (2.31), compared to earnings of RMB 0.81 per share in the same period of 2023[38]. Segment Performance - The digital industrial business segment's revenue and profit decreased by 28.6% and 55.1%, respectively, to RMB 139.0 million and RMB 7.9 million due to weak overall demand[10]. - The digital lifestyle business segment's revenue decreased by 24.7%, while profit increased by 186.0%, reaching RMB 120.0 million and RMB 8.0 million, respectively[11]. - The new retail business experienced a revenue increase of 303% during the reporting period, driven by new projects in Taipei's major commercial areas[11]. - The total revenue for the six months ended June 30, 2024, was RMB 258,925 thousand, with digital industrial business contributing RMB 138,951 thousand and digital lifestyle business contributing RMB 119,974 thousand[25]. - The reported segment profit for the digital industrial business was RMB 7,941 thousand, while the digital lifestyle business reported a profit of RMB 7,988 thousand, totaling RMB 15,929 thousand[25]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 575,085 thousand, a decrease from RMB 620,123 thousand as of December 31, 2023[18]. - Total liabilities decreased to RMB 154,215 thousand as of June 30, 2024, from RMB 183,672 thousand as of December 31, 2023[19]. - Cash and cash equivalents as of June 30, 2024, were RMB 183.1 million, compared to RMB 189.8 million as of December 31, 2023[5]. - Operating and lease receivables were approximately RMB 180.5 million as of June 30, 2024, down from RMB 205.3 million as of December 31, 2023, with turnover days increasing from 115 days to 136 days[4]. - The total accounts payable as of June 30, 2024, was RMB 100,309 thousand, down from RMB 109,696 thousand as of December 31, 2023, indicating a decrease of approximately 8.0%[42]. Investments - The investment in SigmaSense, LLC is valued at approximately RMB 3.4 million, accounting for 4.3% of the company's total assets as of June 30, 2024[14]. - The investment in the Fuhua Fund is valued at approximately RMB 30.6 million, representing 5.3% of the company's total assets as of June 30, 2024[15]. - The company experienced an unrealized loss of approximately RMB 22.4 million from its investment in SigmaSense during the reporting period[14]. Employee and Corporate Governance - The company had 272 full-time employees as of June 30, 2024, a significant reduction from 567 employees as of December 31, 2023, representing a decrease of about 52.0%[47]. - The company has maintained a competitive salary range for employees, with performance-based rewards included in the overall compensation framework[47]. - The audit committee reviewed the financial reports and internal controls for the six months ending June 30, 2024, ensuring compliance with accounting principles[48]. Dividends and Grants - The company does not recommend any interim dividend for the six months ended June 30, 2024[3]. - Government grants recognized during the six months ended June 30, 2024, were RMB 1,016 thousand, down from RMB 1,501 thousand in the same period of 2023[31]. - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[36]. Future Outlook - The company plans to continue focusing on new market development and new product categories as part of its short-term business strategy[14]. - The market anticipates that major Western countries will begin to ease monetary policy in the second half of the year, potentially stabilizing the global economy[12].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million for the fiscal year, representing a 20% year-over-year growth[2]. - Revenue for the year ended December 31, 2023, decreased by 19% to RMB 677.9 million compared to RMB 832.5 million in 2022[45]. - The company recorded a net loss attributable to shareholders of RMB 16.8 million in 2023, down from a profit of RMB 27.8 million in 2022[45]. - The industrial solutions segment revenue decreased by 5% year-on-year to RMB 406.5 million, while profit decreased by 2% to RMB 41.1 million[60]. - Smart office segment revenue declined by 33% to RMB 266.1 million, resulting in a loss of RMB 27.9 million, primarily due to impairment of intellectual property and poor performance of smart office equipment[62]. - Personify business revenue fell over 50% to barely over US$1 million in 2023, with a RMB10.6 million impairment on the net book value of the IPs[66]. - New Retail Business revenue decreased by 40% to RMB5.2 million, but profit increased over eight times to RMB1.1 million due to reversal of unnecessary expenses[72]. User Growth and Market Expansion - User data showed a 15% increase in active users, reaching 1.2 million by the end of the fiscal year[2]. - Market expansion efforts are underway, with plans to enter the European market by Q3 2024, targeting an additional 300,000 users[2]. - The company is optimistic about the future development in the Southeast Asia market due to increased production capacities in the region[40]. Product Development and Innovation - The company is investing in R&D, allocating $5 million towards the development of new digital signage technologies[2]. - New product launches included an advanced smart office solution, which is expected to contribute an additional $10 million in revenue in the next quarter[2]. - The company invested significant R&D resources in new product development, but new products have not gained market traction, leading to a substantial decline in revenue from the Personify business[63]. Corporate Governance - The board consists of two executive directors, three non-executive directors, and three independent non-executive directors, ensuring a diverse governance structure[105]. - The company has established mechanisms for independent views to be available to the board, which will be reviewed annually[110]. - The board is collectively responsible for leadership, control, and overall strategic development, overseeing internal control and financial performance[109]. - The company has established good corporate governance practices and promotes high standards of integrity and probity[148]. - The board has established three committees: Nomination Committee, Audit Committee, and Remuneration Committee to oversee specific aspects of the group's affairs[167]. Risk Management - The group has established an Enterprise Risk Management (ERM) framework to assist in managing key risks and ensuring compliance with governance codes[190]. - The risk governance structure follows the "Three Lines of Defense" model, involving management controls, financial control, and internal audit[194]. - The management is responsible for identifying and assessing risks that may impact business objectives and implementing monitoring procedures[196]. - The Audit Committee oversees the management's performance and conducts annual internal audits of the risk management and internal control systems[189]. Customer Satisfaction and Service Quality - Customer satisfaction ratings improved to 90%, reflecting the effectiveness of new service delivery strategies implemented this year[2]. - The company emphasizes the importance of customer satisfaction and quality service to drive repeat purchases and business opportunities[27]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 25% and aiming to reach $187.5 million[2]. - The tightening cycle of major economies' monetary policy is expected to end, with a loosening cycle potentially starting as early as mid-2024[73]. - The company anticipates that digital life business will improve in the coming years, supported by new sizable digital signage projects starting in 2024[76]. Corporate Social Responsibility - The company is committed to maintaining high standards of integrity and protecting the environment as part of its corporate social responsibility[96].