Financial Performance - The Group recorded a total revenue of approximately RMB201.3 million, representing a decrease of approximately RMB20.8 million, or approximately 9.4% compared to RMB222.1 million in the same period in 2019[16]. - The Group reported a net loss of approximately RMB68.6 million during the Period[16]. - The gross profit amounted to approximately RMB24.5 million, a decrease of approximately RMB0.4 million, or approximately 1.6% compared to RMB24.9 million in the same period in 2019[16]. - Loss before tax for the six months ended June 30, 2020, was RMB67.6 million, compared to a loss of RMB16.0 million for the same period in 2019[31]. - The net loss margin for the six months ended June 30, 2020, was (34.1%), compared to (7.1%) for the same period in 2019[32]. - The net loss for the six months ended June 30, 2020, increased to approximately RMB68.6 million, representing an increase of approximately RMB52.8 million or 334.2% compared to RMB15.8 million for the same period in 2019[54]. - The company reported a loss for the period of RMB 68,607,000, significantly higher than the loss of RMB 15,805,000 in 2019[182]. - Basic and diluted loss per share attributable to ordinary equity holders was RMB (4.74 cents), compared to RMB (0.94 cents) in the prior year[182]. Business Strategy and Operations - The Group focused on two core business areas: Systems Integration Business and Smart Office Software Solutions, expanding gradually to other Asian countries[14]. - The Group is adjusting its business strategy by partnering with manufacturers in China to enhance competitive strength and diversify risks[21]. - The Group is optimizing its Smart Office Software Solutions to leverage opportunities from IoT technology[22]. - The Group continues to establish alliances with industry partners to increase awareness and consolidate its leading position in the industry[22]. - The Group remains optimistic about the long-term prospects of its core business despite the challenging business environment[25]. - The Group plans to adopt a more cautious approach in the second half of 2020 to ensure effective business development[25]. - The Group will continue to invest in its existing core business and explore opportunities in new technologies such as cloud computing and IoT[24]. Impact of COVID-19 - The COVID-19 pandemic led to reduced IT spending, impacting the Group's revenue and performance negatively[15]. - The impairment loss recorded for goodwill was approximately RMB57.6 million, primarily due to the impact of the COVID-19 pandemic on the global economy[51]. - The inventory balance as of June 30, 2020, was approximately RMB 37.3 million, with an average turnover period of 26 days, an increase from 11 days as of June 30, 2019, due to COVID-19 delivery delays[70]. Financial Position and Assets - Total assets as of June 30, 2020, were RMB895.3 million, a decrease from RMB1,109.9 million as of December 31, 2019[35]. - The current ratio as of June 30, 2020, was 1.3, compared to 1.4 as of June 30, 2019[32]. - The total interest-bearing bank and other borrowings amounted to approximately RMB70.3 million as of June 30, 2020, an increase from approximately RMB64.6 million as of December 31, 2019[61]. - The gearing ratio increased to approximately 7.9% as of June 30, 2020, compared to approximately 5.8% as of December 31, 2019[60]. - Cash and cash equivalents increased from RMB 48,781,000 as of December 31, 2019, to RMB 65,894,000 as of June 30, 2020, marking an increase of approximately 35.1%[186]. Shareholder Information and Corporate Governance - The company did not declare any interim dividend for the six months ended June 30, 2020, consistent with the previous year[154]. - The company has adopted and complied with the Corporate Governance Code throughout the six months ended June 30, 2020, with some deviations noted[159]. - The roles of chairman and CEO are held by the same individual, Mr. Chan Sek Keung, Ringo, which deviates from the Corporate Governance Code[160]. - The company recognizes the importance of good corporate governance to enhance overall performance and accountability to shareholders[159]. - The company will seek to comply with the Corporate Governance Code by appointing a suitable candidate for the CEO position in the future[160]. Employee and Operational Metrics - The total number of employees as of June 30, 2020, was 249, down from 259 as of June 30, 2019[86]. - Selling and distribution expenses decreased by approximately RMB0.8 million to approximately RMB12.0 million for the six months ended June 30, 2020, compared to approximately RMB12.8 million for the same period in 2019[49]. - Administrative expenses decreased by approximately RMB1.6 million to approximately RMB23.4 million for the six months ended June 30, 2020, compared to approximately RMB25.0 million for the same period in 2019[50].

Financial Performance - The Group recorded total revenue of approximately RMB488.7 million, an increase of approximately RMB73.8 million or 17.8% compared to RMB414.9 million in 2018[16] - The Group's gross profit amounted to approximately RMB65.0 million, representing an increase of approximately RMB29.4 million or 82.6% compared to RMB35.6 million in 2018[16] - The gross profit margin increased to approximately 13.3% from approximately 8.6% in the previous year[16] - The Group experienced a net loss of approximately RMB24.7 million during the year[16] - Revenue for 2019 was RMB 488,682,000, an increase of 17.7% from RMB 414,864,000 in 2018[34] - Gross profit for 2019 was RMB 65,042,000, resulting in a gross profit margin of 13.3%, up from 8.6% in 2018[34][46] - Loss before tax decreased to RMB 22,638,000 in 2019 from RMB 58,416,000 in 2018, indicating improved financial performance[34] - The loss attributable to owners of the parent was RMB 21,096,000 in 2019, a significant reduction from RMB 46,171,000 in 2018[34] - The net loss decreased by approximately RMB 30.0 million or 54.8% to approximately RMB 24.7 million for the year ended December 31, 2019, compared to a net loss of approximately RMB 54.7 million for the previous year[72] Market Conditions and Strategy - The ongoing trade tensions between the United States and China impacted the business environment, but the Group achieved growth through risk diversification and operational efficiency[17] - The phase one trade agreement between the United States and China was signed in January 2020, which may influence future business conditions[17] - The Group's strategy included investments in Vietnam to mitigate risks associated with global economic volatility[17] - The uncertain business environment due to the US-China trade war and COVID-19 may impact IT spending in 2020, but the Group remains cautiously optimistic about long-term prospects[22][23] - The Group anticipates increased demand for mobile OA software due to the shift towards remote work and the benefits of cloud computing and VPN technologies[23][24] - The Group plans to explore overseas market opportunities, particularly related to the "One Belt and One Road Initiative" and "Guangdong-Hong Kong-Macao Greater Bay Area Development" policies[26][27] Operational Efficiency - Continuous investment in advanced technology and exploration of overseas markets contributed to the overall performance improvement[15] - The Group's performance reflects a steady growth trajectory despite external economic challenges[15] - Cost of sales increased by approximately RMB 44.3 million, or approximately 11.7%, from approximately RMB 379.3 million in 2018 to approximately RMB 423.6 million in 2019[56] - Selling and distribution expenses increased by approximately RMB 2.5 million or 11.3% to approximately RMB 24.7 million, primarily due to increased salaries and commissions in the sales and marketing department[63] - Administrative expenses rose by approximately RMB 8.1 million or 16.9% to approximately RMB 56.0 million, mainly due to increased staff costs for business development[64] Cash Flow and Liquidity - Net cash from operating activities was RMB 39.3 million for the year ended December 31, 2019, a decrease from RMB 89.1 million in 2018[50] - Net cash used in investing activities was RMB 40.3 million for the year ended December 31, 2019, compared to RMB 195.4 million in 2018[50] - Current assets decreased to RMB 399.2 million as of 31 December 2019 from RMB 404.4 million in 2018[48] - The current ratio for 2019 was 1.3, indicating a slight decrease from 1.4 in 2018, reflecting changes in liquidity[46] - The cash conversion cycle for the year ended December 31, 2019, was 26 days, significantly improved from 54 days in 2018[90][1] Corporate Governance - The company is focused on enhancing its corporate governance through experienced directors and committees[159] - The Board consists of four executive Directors, one non-executive Director, and three independent non-executive Directors as of December 31, 2019[180] - The Company aims to re-comply with the Corporate Governance Code provision A.2.1 by appointing a suitable candidate for the CEO position in the future[175] - The Board is committed to adopting sound corporate governance practices continuously in the interest of shareholders[174] - The independent non-executive Directors provide independent judgment and scrutiny of the Group's performance, significantly influencing Board decisions[198] Investments and Fair Value - The Group's investment in China Communication Technology Co., Ltd. (CCT) was approximately RMB382.6 million, accounting for approximately 34.5% of the Company's total assets as of 31 December 2019[119] - CCT recorded revenue of approximately RMB7,828.8 million for the year ended 31 December 2019, representing a decrease of approximately 22.8% compared to RMB10,145.4 million in 2018[120] - The Group recorded a fair value loss of approximately RMB227.1 million in respect of its investment in CCT for the year ended 31 December 2019[120] - The company recognized a fair value loss of approximately RMB 227.1 million (after tax) on non-listed equity investments, which was included in other comprehensive losses[122]

Financial Performance - The Group recorded total revenue of approximately RMB222.1 million, an increase of approximately RMB14.8 million or 7.1% compared to RMB207.3 million in the same period in 2018[14]. - The Group's gross profit amounted to approximately RMB24.9 million, representing an increase of approximately RMB13.5 million or 118.4% compared to RMB11.4 million in the same period in 2018[14]. - The gross profit margin increased to approximately 11.2% from approximately 5.5% in the same period in 2018[14]. - The Group incurred a net loss of approximately RMB15.8 million during the period[14]. - Gross profit for the period was RMB 24.9 million, up from RMB 11.4 million in the previous year, indicating a significant improvement in profitability[30]. - The gross profit margin increased to 11.2% in 2019 from 5.5% in 2018, reflecting enhanced operational efficiency[33]. - Loss before tax decreased to RMB 16.0 million from RMB 26.4 million year-on-year, showing a reduction in financial losses[30]. - The net loss decreased by approximately RMB 9.2 million or 36.8% for the six months ended June 30, 2019, compared to a net loss of approximately RMB 25.0 million for the same period in 2018[63]. - The loss for the period was RMB 15,805,000, compared to RMB 24,960,000 in the previous year, showing a year-over-year improvement[198]. - The company reported a loss for the period of RMB 15,805,000, a decrease of 36.5% compared to a loss of RMB 24,960,000 in the same period of 2018[200]. Assets and Liabilities - The Group's total assets as of 30 June 2019 were RMB 1,304.2 million, down from RMB 1,359.8 million at the end of 2018[37]. - Cash and cash equivalents, excluding pledged deposits, decreased to RMB 39.7 million from RMB 98.3 million at the end of 2018[37]. - The current ratio as of 30 June 2019 was 1.4, compared to 1.6 in the previous year, indicating a slight decline in liquidity[33]. - The Group's gearing ratio as of 30 June 2019 was approximately 4.0%, down from approximately 6.7% as of 31 December 2018[70]. - Total interest-bearing bank and other borrowings amounted to approximately RMB 52.0 million as of 30 June 2019, an increase from approximately RMB 42.7 million as of 31 December 2018[71]. - The balance of trade and bills receivables was approximately RMB 203.7 million as of June 30, 2019, with an average turnover days of 168 days, a decrease from 195 days as of June 30, 2018[80]. - The balance of trade and bills payables was approximately RMB 177.6 million as of June 30, 2019, with an average turnover days increasing to 154 days from 144 days as of June 30, 2018[81]. - As of June 30, 2019, the inventory balance was approximately RMB 11.7 million, with an average turnover days of 11 days[79]. Investments and Market Expansion - The Group has commenced operations in Vietnam, aiming for higher returns for shareholders in the future[15]. - The Group continues to invest in research and development to enhance its competitive strength in the PRC market[15]. - The Group is focusing on innovating and exploring new technologies such as IoT and Artificial Intelligence for its mobile OA software[16]. - The Group plans to accelerate investment in wireless, IoT, cloud computing, and Software Defined Networking (SDN) technology to prepare for the 5G era[21]. - The Group is actively exploring overseas markets, particularly opportunities arising from the "One Belt and One Road Initiative" and "Guangdong-Hong Kong-Macao Greater Bay Area Development" policies[22]. - The Group aims to establish strategic cooperation with partners to enhance competitiveness and accelerate software distribution[16]. - The Group remains optimistic about future business prospects despite challenges in the network communication and mobile OA software sectors due to intense competition[23]. Shareholder Information and Corporate Governance - The Board did not declare any interim dividend for the six months ended 30 June 2019, consistent with the previous year[165]. - The Company has adopted and complied with the principles of the Corporate Governance Code throughout the six months ended June 30, 2019, with some deviations noted[169]. - The roles of chairman and CEO are currently held by the same individual, Mr. Chan Sek Keung, Ringo, due to the rapid development of the Group[170]. - All Directors confirmed compliance with the Model Code for Securities Transactions during the six months ended June 30, 2019[172]. - The company maintained a public float of not less than 25% of its issued shares as required under the Listing Rules during the reporting period[180]. - Ernst & Young was re-appointed as auditors of the company until the conclusion of the next annual general meeting[181]. Share Option Scheme - The Share Option Scheme allows for a maximum of 10% of the Shares in issue to be granted, which equates to 97,500,000 Shares after the refresh on May 24, 2017[146]. - The total number of Shares available for issue under the Share Option Scheme is 105,420,000, representing approximately 7.51% of the issued share capital of the Company[147]. - During the six months ended June 30, 2019, no share options were granted, exercised, lapsed, or cancelled under the Share Option Scheme[155]. - The total number of share options granted to Directors under the Share Option Scheme is 7,920,000, with no options exercised during the reporting period[153]. - As of June 30, 2019, 2,376,000 share options granted on October 25, 2016, have not yet vested[147]. - The closing price of the Company's shares immediately before the options were granted was HK$1.73[157]. - Up to 40% of the options granted (the "First Options") are exercisable from 25 October 2016 to 25 October 2026[157]. - Up to 30% of the options granted (the "Second Options") are exercisable from 25 October 2017 to 25 October 2026[157]. - Up to 30% of the options granted (the "Third Options") are exercisable from 25 October 2018 to 25 October 2026[157]. Other Financial Information - The financial results for the six months ended June 30, 2019, have not been audited, indicating that the figures are preliminary[178]. - The company reported a decrease in finance costs to RMB 2,245,000 from RMB 5,825,000, representing a reduction of 61.5%[198]. - Total comprehensive loss for the period was RMB 20,832,000, down 20.5% from RMB 26,282,000 in the prior year[200]. - Other comprehensive loss for the period, net of tax, was RMB 5,027,000, compared to RMB 1,322,000 in the previous year[200]. - The fair value change of financial assets at fair value through other comprehensive income resulted in a loss of RMB 7,315,000[200]. - Exchange differences on translation of foreign operations contributed a gain of RMB 459,000, improving from a loss of RMB 1,322,000 in 2018[200]. - The loss attributable to owners of the parent was RMB 18,108,000, compared to RMB 20,123,000 in the same period last year[200]. - Non-controlling interests reported a loss of RMB 2,724,000, down from RMB 6,159,000 in the previous year[200].

Financial Performance - The Group recorded a net loss of approximately RMB54.7 million for the year ended 31 December 2018[16]. - Total revenue amounted to approximately RMB414.9 million, representing a decrease of approximately RMB87.0 million, or approximately 17.3% compared to RMB501.9 million in 2017[16]. - The Group's gross profit was approximately RMB35.6 million, a decrease of approximately RMB28.2 million, or approximately 44.2% from RMB63.8 million in 2017[16]. - The gross profit margin decreased to approximately 8.6% from approximately 12.7% in the same period in 2017[16]. - The loss attributable to the owners of the parent was RMB 46,171,000 in 2018, a significant improvement from a loss of RMB 95,611,000 in 2017[38]. - The net loss decreased by approximately RMB42.0 million or 43.4% for the year ended 31 December 2018, compared to a net loss of approximately RMB96.7 million for the year ended 31 December 2017[74]. - Basic and diluted loss per share was RMB(3.95) for the year ended 31 December 2018, compared to RMB(10.38) in 2017[48]. Revenue and Cost Analysis - The Group recorded a revenue decline in the mobile OA software business, with revenue of RMB 414,864,000 in 2018 compared to RMB 501,933,000 in 2017, representing a decrease of approximately 17.3%[38]. - Gross profit decreased to RMB 35,606,000 in 2018 from RMB 63,848,000 in 2017, resulting in a gross profit margin of 8.6% compared to 12.7% in the previous year[38][40]. - The cost of sales decreased by approximately RMB58.8 million, or approximately 13.4%, from approximately RMB438.1 million in 2017 to approximately RMB379.3 million in 2018[51]. - Selling and distribution expenses decreased by approximately RMB3.7 million, or approximately 14.3%, from approximately RMB25.9 million in 2017 to approximately RMB22.2 million in 2018[59]. - Administrative expenses decreased by approximately RMB9.9 million for the year ended 31 December 2018, compared to RMB57.8 million for the year ended 31 December 2017, primarily due to effective cost control measures[63]. Assets and Liabilities - Current assets decreased to RMB 404,426,000 in 2018 from RMB 744,695,000 in 2017, while non-current assets increased to RMB 955,346,000 from RMB 691,423,000[44]. - The total assets of the Group were RMB 1,359,772,000 in 2018, a decrease from RMB 1,436,118,000 in 2017[34]. - The current ratio decreased to 1.4 in 2018 from 2.3 in 2017, indicating a tighter liquidity position[40]. - The Group's gearing ratio decreased to approximately 6.7% as of 31 December 2018, down from 8.6% as of 31 December 2017, primarily due to early redemption of coupon notes[75]. - The balance of trade and bills receivables as of December 31, 2018, was approximately RMB 209.7 million, down from approximately RMB 228.2 million as of December 31, 2017, primarily due to decreased sales of network communications products and services[89]. Cash Flow and Investments - Net cash from operating activities was RMB89.1 million for the year ended 31 December 2018, compared to RMB56.9 million in 2017[46]. - Net cash used in investing activities was RMB195.4 million for the year ended 31 December 2018, a decrease from RMB443.9 million in 2017[46]. - The net cash flows from operating activities for the year ended December 31, 2018, were approximately RMB 89.1 million, mainly due to collections from loan receivables[92]. - The net cash flows used in investing activities for the year ended December 31, 2018, were approximately RMB 195.4 million, primarily due to a capital injection of approximately RMB 280.0 million[94]. Strategic Focus and Future Plans - The Group aims to focus on the medium and high-end market to target large-scale enterprise customers, which require more high-value professional solutions[22][26]. - The Group plans to continue technology investments to enhance its product range, including cloud computing and cybersecurity[17]. - The Group aims to accelerate software solution development and widen customer networks through alliances with other business partners[17]. - The Group plans to explore business opportunities in other Asian countries, including initial operations in Vietnam, to boost growth momentum[24][27]. - The Group will strategically position itself to take advantage of the growth opportunities arising from the development of the Guangdong-Hong Kong-Macao Greater Bay Area[25][27]. Corporate Governance - The Company recognizes the importance of good corporate governance and has adopted the Corporate Governance Code throughout the year, with some deviations noted[180]. - The roles of chairman and CEO are currently held by Mr. Chan Sek Keung, Ringo, to facilitate execution of business strategies, with plans to appoint a suitable candidate for the CEO position in the future[181]. - The Board held a total of 9 meetings during the year ended December 31, 2018, including 4 regular meetings and passed 12 written resolutions[192]. - The Company aims to enhance corporate governance by adopting principles from the Corporate Governance Code, with a focus on shareholder interests[183]. - The Board's composition is balanced, bringing diverse experiences and expertise relevant to the Group's business[188].