格隆汇8月18日丨博维智慧(01204.HK)公告，将于2025年8月28日(星期四)举行董事会会议，以便(其中包 括)考虑及批准刊发公司及其附属公司截至2025年6月30日止6个月中期业绩，以及考虑派付截至2025年6 月30日止6个月中期股息建议(如有)。 ...

BoardWare Intelligence Technology Limited 博維智慧科技有限公司 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的內容概不 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 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 的 任 何 損 失 承 擔 任 何 責 任。 （股份代號：1204） （於開曼群島註冊成立的有限公司） 董事會會議通知 博 維 智 慧 科 技 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈 將 於2025 年8月28日（星 期 四）舉 行 董 事 會 會 議，以 便（其 中 包 括）考 慮 及 批 准 刊 發 本 公 司 及 其附屬公司截至2025年6月30日 止 六 個 月 之 中 期 業 績，以 及 考 慮 派 付 截 至2025 年6月30日 止 六 個 月 之 中 期 股 息 之 建 議（如 有）。 承董事會命 博維智慧科技有限公司 主席兼執行董事 周家俊 香 港，2025年8月18日 ...

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: 博維智慧科技有限公司 呈交日期: 2025年8月4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) | 01204 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 | HKD | | 100,000,000 | 本月底法定/ ...

Financial Performance - In FY2024, the Group reported revenue of approximately HK$648.0 million, a decrease of approximately HK$63.1 million or 9.7% compared to FY2023[14]. - Profit for the year decreased by 77.8% to approximately HK$1.0 million for FY2024 from approximately HK$4.5 million for FY2023[14]. - Revenue for FY2024 decreased to approximately HK$648.0 million, down 9.7% from HK$717.6 million in FY2023, primarily due to a decline in Enterprise IT solutions revenue[55]. - Revenue from Professional IT services decreased by approximately HK$89.7 million or 23.6% due to the completion of several large contracts in FY2023[62]. - Revenue from distribution and resale decreased by approximately HK$5.4 million or 2.2% from approximately HK$251.0 million for FY2023 to approximately HK$245.6 million for FY2024[68]. - Revenue from Managed services increased by approximately HK$24.1 million or 87.0%, contributing to the overall revenue growth in high-profit businesses[62]. - The cost of sales and services decreased by approximately HK$78.7 million or 13.1% to approximately HK$523.2 million for FY2024 from approximately HK$601.9 million for FY2023[70]. - Other income increased by approximately HK$9.2 million or 112.2% to approximately HK$17.4 million for FY2024 from approximately HK$8.2 million for FY2023, primarily due to increased government grants for R&D activities and income from a partnership agreement in Macau[76][79]. Business Strategy and Development - The Group is enhancing its business model by expanding its product range and improving solution integration capabilities to capitalize on digital transformation and AI advancements[15]. - The Group continues to expand its footprint in the Greater Bay Area, leveraging policy benefits and initiatives such as cross-border data flow pilots and tax incentives[21]. - The Group anticipates stable growth in its traditional IT solutions business driven by investments from non-gaming operators in Macau and the government's push for economic diversification away from gaming[25][32]. - The Group's strategy includes scaling SaaS subscription services to diversify revenue streams from technology licensing[40]. - The Group is focusing on expanding Managed services and IT maintenance and consultancy services in Macau and Hong Kong, anticipating steady revenue contributions from these services[61]. - The Group plans to enhance R&D in core AI technologies, focusing on industry-specific solutions such as AI-driven risk control systems for financial institutions and AI-powered footfall analytics for smart retail[43][42]. Research and Development - A dedicated R&D team specializing in AI and large language models was established in Macau, achieving breakthrough progress in developing foundational large language models and BCI applications[16]. - The Group registered 26 software copyrights and 57 patents related to AI and BCI technologies as of December 31, 2024, showing significant growth from 17 copyrights and 31 patents in the previous year[45]. - The Group plans to invest in R&D for technologies such as multi-agent information security alert analysis to enhance competitive advantage and boost revenue[64]. - Research and development expenses increased by approximately HK$8.4 million or 84.0% to approximately HK$18.4 million for FY2024, driven by investments in BCI technologies and the establishment of a new R&D team in Macau[82][86]. Market Opportunities - The digital transformation wave and rapid advancements in the AI industry present significant opportunities, particularly in Macau, Hong Kong, and the PRC[22]. - Investments by Macau gaming operators in non-gaming sectors and intelligent transformation are expected to drive steady growth in the traditional Enterprise IT solutions business[22]. - The demand for IT solutions is expected to rise significantly as local enterprises plan to increase investments in IT infrastructure renovation and new IT upgrade projects in response to digital transformation trends[30][32]. - The Macau SAR government's "1+4" diversification strategy aims to enhance Macau's role in integrated tourism and leisure while promoting emerging industries, which will increase the demand for IT solutions[32]. - The increasing integration of IT elements in traditional industries, such as tourism and gaming, is expected to create new business opportunities for the Group[32]. Governance and Leadership - The board consists of eight directors, including four executive directors, one non-executive director, and three independent non-executive directors[132]. - The Group has been actively involved in talent cultivation through a scholarship and internship awards program launched in May 2019[139]. - The Group's leadership team includes individuals with advanced degrees and certifications, enhancing their expertise in their respective fields[150]. - The Group's executives have been recognized for their contributions, with Mr. Ng awarded as Guangdong-Hong Kong-Macao Greater Bay Area Outstanding Young Entrepreneur in 2023[153]. - The Group's management structure includes roles dedicated to sales, application development, and innovation and R&D[189]. Financial Position - As of December 31, 2024, cash and cash equivalents increased to approximately HK$85.9 million from approximately HK$28.7 million as of December 31, 2023, mainly due to decreased pledged deposits and cash inflow from operations[93][97]. - The gearing ratio as of December 31, 2024, was approximately 4.4%, with total borrowings increasing to approximately HK$14.7 million from approximately HK$11.1 million in the previous year[98]. - The Group's total borrowings as of December 31, 2024, were approximately HK$14.7 million, up from HK$11.1 million as of December 31, 2023, with a capital debt ratio of about 4.4% compared to 3.3% in the previous year[103]. - Total staff costs incurred by the Group for FY2024 were approximately HK$136.9 million, an increase from approximately HK$112.1 million for FY2023[110]. - The Group employed a total of 341 employees as of December 31, 2024, compared to 287 employees as of December 31, 2023[110]. Community Engagement - The Group's commitment to community service is demonstrated by its executives' involvement in local advisory committees[153].

Financial Performance - The group's revenue decreased from approximately HKD 717.6 million in the fiscal year 2023 to approximately HKD 648.0 million in the fiscal year 2024, representing a decline of about 9.7%[3] - Net profit for the year decreased from approximately HKD 4.5 million in the fiscal year 2023 to approximately HKD 1.0 million in the fiscal year 2024, a decline of about 77.8%[3] - Basic earnings per share attributable to shareholders decreased from approximately HKD 0.90 in the fiscal year 2023 to approximately HKD 0.19 in the fiscal year 2024, a decrease of about 78.9%[3] - Total revenue for 2024 was HKD 648,012,000, a decrease of 9.7% from HKD 717,595,000 in 2023[21] - Net profit for 2024 was HKD 952,000, a significant decrease from HKD 4,502,000 in 2023[27] - Distribution and resale revenue decreased by approximately HKD 5.4 million or 2.2% to about HKD 245.6 million due to a reduction in orders from Hong Kong distributors[47] - Revenue from enterprise IT solutions decreased by approximately HKD 63.1 million or 13.8% to about HKD 393.1 million for the fiscal year 2024[45] - Professional IT services revenue declined by approximately HKD 89.7 million or 23.6%, while managed services revenue increased by approximately HKD 24.1 million or 87.0%[45] Assets and Liabilities - The group's cash and cash equivalents amounted to approximately HKD 85.9 million as of December 31, 2024, compared to approximately HKD 28.7 million as of December 31, 2023[3] - Total assets increased slightly from approximately HKD 583.4 million in 2023 to approximately HKD 585.7 million in 2024[6] - Total equity decreased from approximately HKD 336.0 million in 2023 to approximately HKD 335.9 million in 2024[6] - Trade and other payables decreased from approximately HKD 190.9 million in 2023 to approximately HKD 178.2 million in 2024[6] - Trade receivables from customer contracts were HKD 165,176,000 in 2024, down from HKD 181,513,000 in 2023[29] - Trade payables decreased to HKD 155,092,000 in 2024 from HKD 174,165,000 in 2023[30] - The group's total borrowings as of December 31, 2024, were approximately HKD 14.7 million, up from HKD 11.1 million on December 31, 2023, resulting in a capital debt ratio of 4.4% compared to 3.3% in the previous year[61] Research and Development - Research and development expenses increased from approximately HKD 10.0 million in the fiscal year 2023 to approximately HKD 18.4 million in the fiscal year 2024[4] - R&D expenses increased by approximately HKD 8.4 million or 84.0% to about HKD 18.4 million, driven by investments in BCI technology and the establishment of a new R&D team focused on AI and large language models[54] - Other income rose by approximately HKD 9.2 million or 112.2% to about HKD 17.4 million, primarily due to increased government grants related to R&D activities[51] - The group has registered 26 software copyrights and 57 patents related to AI and brain-machine interaction technology as of the announcement date[38] Market and Strategic Initiatives - The group has expanded its footprint to the Greater Bay Area since 2021, providing IT solutions and services to local markets including Macau, Hong Kong, and China[33] - The group anticipates increased demand for IT solutions and related products as local enterprises plan to invest more in IT infrastructure innovation and upgrades due to economic transformation and digitalization in the Greater Bay Area, Hong Kong, and Macau[33] - The Macau government has emphasized the importance of diversifying the economy and has introduced support policies for technology companies, which will enhance the demand for IT solutions in various emerging industries[34] - The group is focusing on developing customized IT products and solutions, including AI-driven intelligent operations, to optimize resource allocation and improve profitability[36] - The group plans to upgrade its collaboration model to a full-cycle "system integration + data services" partnership, expanding into intelligent network system management and cross-regional data solutions[36] - The group expects that the demand for IT solutions will increase due to the commitments made by six gaming operators in Macau to invest in non-gaming sectors over the coming years[33] - The Macau government’s "2024 Policy Address" reinforces the strategy of diversified development, which will further increase the influence of IT elements in business operations[34] - The group aims to leverage opportunities from the digital transformation and extensive application of technology to drive business growth in the coming years[35] - The group is integrating augmented reality (AR), virtual reality (VR), and digital twin technologies to create immersive experiences and enhance customer engagement[36] - The group plans to enhance core AI technology development and establish diversified competitive advantages, focusing on industry-specific solutions in fintech, smart retail, and government technology[37] - The group is collaborating with local partners to develop localized solutions in areas such as industrial IoT and digital healthcare, leveraging opportunities from the central government's policies[42] Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[79] - The audit committee has reviewed the annual performance for the fiscal year 2024 and confirmed that the financial statements fairly reflect the company's financial position[80] - The company has complied with the corporate governance code, except for a deviation regarding the roles of the chairman and CEO being held by the same individual[75] - The board believes that the current management structure is effective and has established sufficient checks and balances despite the deviation from the corporate governance code[76] - The company plans to continue reviewing its governance structure to assess the necessity of separating the roles of chairman and CEO[76] Dividends and Shareholder Information - The company did not declare or recommend any dividends for both 2024 and 2023 fiscal years[26] - The group has not proposed any final dividend for the fiscal year 2024, compared to no dividend in fiscal year 2023[72] - The annual performance announcement for the fiscal year 2024 will be published on the Hong Kong Stock Exchange website and the company's website[82] - The annual report will include all information required by the listing rules and will be sent to shareholders in due course[82] - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[84]

BoardWare Intelligence Technology Limited 博維智慧科技有限公司 BoardWare Intelligence Technology Limited （於開曼群島註冊成立的有限公司） (incorporated in the Cayman Islands with limited liability) Stock code 股份代號 : 1204 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|-------|--------------------------------|---------------------------------------------|-----------|-------| | | | | | | | | | | CONTENTS CONTENTS | 目錄 目錄 | | | | | | | | 2–4 | | | Corpor ...

Financial Performance - Revenue for the six months ended June 30, 2024, decreased to approximately HKD 318.1 million, a decline of about HKD 76.0 million or 19.3% compared to the same period in 2023[1] - Gross profit increased to approximately HKD 65.8 million, an increase of about HKD 14.6 million or 28.5% compared to the same period in 2023[1] - Profit before tax decreased to approximately HKD 1.7 million, a decline of about HKD 1.0 million or 37.0% compared to the same period in 2023[1] - Basic earnings per share attributable to shareholders decreased to approximately HKD 0.21, a decrease of about HKD 0.04 or 16.0% compared to the same period in 2023[1] - The group reported a profit of 1,038,000 HKD for the six months ended June 30, 2024, compared to 1,238,000 HKD for the same period in 2023, indicating a decrease of approximately 16.2%[20] - Profit for the period decreased by approximately HKD 0.2 million or 16.7% from about HKD 1.2 million in the fiscal year 2023 to about HKD 1.0 million in the fiscal year 2024[50] Revenue Breakdown - Total revenue for the six months ended June 30, 2024, was HKD 316,485,000, a decrease of 20.0% compared to HKD 388,937,000 for the same period in 2023[8] - Revenue from professional IT services decreased to HKD 127,966,000, down 43.7% from HKD 227,217,000 in the previous year[9] - Revenue from managed services increased to HKD 20,612,000, up 72.8% from HKD 11,936,000 in the previous year[9] - Revenue recognized at a point in time was HKD 151,898,000, an increase of 15.6% from HKD 131,471,000 in the previous year[10] - Revenue from Macau was HKD 225,177,000, an increase of 6.5% from HKD 211,781,000 in the previous year[11] Expenses and Costs - The cost of goods sold and services provided was 233,444,000 HKD for the six months ended June 30, 2024, down from 332,604,000 HKD in 2023, representing a reduction of about 29.8%[19] - Employee benefits expenses increased to 66,364,000 HKD for the six months ended June 30, 2024, up from 50,571,000 HKD in 2023, marking an increase of approximately 31.3%[19] - Distribution and selling expenses increased by approximately HKD 8.4 million or 67.7% from about HKD 12.4 million in the fiscal year 2023 to about HKD 20.8 million in the fiscal year 2024, mainly due to the expansion of the sales and marketing team in Hong Kong[45] - Administrative expenses increased by approximately HKD 7.6 million or 22.5% from about HKD 33.8 million in the fiscal year 2023 to about HKD 41.4 million in the fiscal year 2024, driven by increased employee benefits and other costs[46] - R&D expenses increased by approximately HKD 2.4 million or 55.8% from about HKD 4.3 million in the fiscal year 2023 to about HKD 6.7 million in the fiscal year 2024, attributed to the latest product developments[47] Assets and Liabilities - Cash and cash equivalents as of June 30, 2024, were approximately HKD 20.9 million, down from HKD 28.7 million as of December 31, 2023[1] - Total assets increased to approximately HKD 629.6 million as of June 30, 2024, compared to HKD 583.4 million as of December 31, 2023[3] - Total equity increased slightly to approximately HKD 336.3 million as of June 30, 2024, from HKD 336.0 million as of December 31, 2023[4] - Trade receivables decreased to approximately HKD 143.9 million as of June 30, 2024, down from HKD 179.9 million as of December 31, 2023[3] - The group’s total liabilities decreased from 190,942,000 HKD as of December 31, 2023, to 180,232,000 HKD as of June 30, 2024, reflecting a reduction of approximately 5.0%[27] Research and Development - Research and development expenses increased to approximately HKD 6.7 million, compared to HKD 4.3 million in the same period in 2023[2] - The company has made breakthroughs in brain-computer interface (BCI) technology, achieving market-leading results in wearable devices during the 2024 fiscal period[33] - The company plans to continue its R&D on BCI technology, integrating it with AI to develop a new generation of intelligent systems[33] - The group registered 25 software copyrights and 49 patents as of the announcement date, with significant R&D support from the Macao Science and Technology Development Fund for BCI and AI technology projects[34] Market and Strategic Developments - The company has expanded its footprint to the Greater Bay Area since 2021, responding to the rapid economic recovery in Hong Kong and Macau, which has increased demand for IT solutions[30] - The local enterprises in the Greater Bay Area, Hong Kong, and Macau are planning to increase investments in IT infrastructure innovation and upgrades due to economic transformation and digitization[30] - The Macau government is promoting diversification strategies, which will enhance the demand for IT solutions in various emerging industries, including health, finance, and high technology[31] - The government has invested significant resources in developing the Internet of Things (IoT) network, which is expected to drive demand for IT solutions in the coming years[32] - The group aims to leverage its competitive advantages to expand its business in the Greater Bay Area, particularly in Hengqin and Nansha, which offer favorable tax incentives[36] Governance and Compliance - The company did not recommend any interim dividends for the fiscal year 2024, consistent with the previous year[62] - The company maintained a public float of not less than 25% of issued shares as required by listing rules[63] - The audit committee was established on June 20, 2022, consisting of three independent non-executive directors, with Mr. Wen Yongbang serving as the chairman[70] - The interim results for the fiscal year 2024 have not been audited but have been reviewed by the audit committee, confirming that the financial statements fairly reflect the group's financial position and performance[71]

Financial Performance - For FY2023, the Group's revenue increased by approximately HK$136.8 million, or 23.6%, from approximately HK$580.8 million in FY2022 to approximately HK$717.6 million[35]. - Revenue from the PRC increased significantly from approximately HK$41.1 million in FY2022 to approximately HK$122.0 million in FY2023[35]. - Revenue from Enterprise IT Solutions rose from approximately HK$356.8 million in FY2022 to approximately HK$456.2 million in FY2023, driven by an increase in Professional IT Services contracts[35]. - Gross profit rose by approximately HK$15.2 million or 15.1% to approximately HK$115.6 million for FY2023, compared to approximately HK$100.4 million for FY2022[69]. - Gross profit margin decreased from 17.3% in FY2022 to 16.1% in FY2023, primarily due to an increase in revenue from lower-margin contracts in the PRC[69]. - Distribution and resale revenue increased from approximately HK$223.3 million in FY2022 to approximately HK$251.0 million in FY2023, reflecting a recovery in the economy post-COVID-19[66]. - Cost of sales and services increased by approximately HK$121.4 million, or 25.3%, to approximately HK$601.9 million in FY2023, outpacing revenue growth due to lower gross profit margins on significant contracts in the PRC[38]. - Administrative expenses rose by approximately HK$13.2 million, or 22.5%, to approximately HK$71.8 million in FY2023, attributed to higher business development costs and increased depreciation[43]. - The Group's profit for FY2023 increased by approximately HK$1.3 million or 40.6% to approximately HK$4.5 million from approximately HK$3.2 million in FY2022[1]. Use of Proceeds - The actual net proceeds received by the company were approximately HK$93.0 million, which is a revision from the previously estimated HK$104.8 million[5]. - The company plans to allocate the net proceeds according to the original funding application proportions, adjusting for a difference of approximately HK$1.1 million[6]. - The upfront costs for two enterprise IT solution projects accounted for 30.4% of the total net proceeds allocation[4]. - General working capital usage was reported at 10.0% of the total net proceeds allocation[4]. - As of December 31, 2023, the unutilized net proceeds amount to approximately HK$37.7 million[153]. - The expected utilization timeline for the unutilized net proceeds includes HK$6.5 million for upfront costs of two Enterprise IT solution projects in Q1 2024 and HK$28.3 million for strengthening product development capabilities in Q2 2024[153]. - The total expected utilization in Q1 and Q2 2024 sums up to HK$37.7 million[154]. - The company plans to use the unutilized net proceeds in accordance with the disclosed purposes in the prospectus, subject to market conditions[155]. - The Group has no other updates on the use of net proceeds as of the date of the annual report[156]. Strategic Initiatives - The group expects improved profitability of contracts in the Greater Bay Area due to the increasing popularity of its high-quality IT solutions[11]. - The R&D team achieved a breakthrough in AIoT and BCI technologies during FY2023, integrating BCI headbands into their offerings[15]. - The Group plans to enhance existing IT solutions with AI elements and digital content to meet the expected demand from non-IT industries[35]. - The government of Macau SAR is promoting the integration of IT with traditional industries, which is anticipated to drive demand for IT solutions in the coming years[35]. - The Group has established a new wholly-owned subsidiary in China focused on developing brain-computer interaction and related technologies for the Web 3.0 era[28]. - A joint laboratory was established with Beihang University in FY2023 to advance AIoT, BCI, and AI technologies, enhancing the Group's innovation capabilities[61]. - The Group signed a contract with a gaming operator to develop a SaaS platform and related mobile applications, aimed at fostering the digital economy among SMEs in Macau[19]. - The Group is investing in strategic hiring and business expansion in the PRC, leading to a slight increase in the usage of net proceeds[2]. Governance and Management - The Board consists of eight Directors, including four executive Directors, one non-executive Director, and three independent non-executive Directors[162]. - The company has a diverse board with members possessing extensive experience in various fields, enhancing its strategic decision-making capabilities[175]. - The board includes independent directors who provide oversight and independent advice, ensuring compliance and governance standards are met[174]. - Ms. Lei has over 21 years of experience in the IT industry, contributing to the overall development of product solutions and marketing strategies[166]. - Mr. Ng, with over 10 years of experience in the IT industry, is responsible for overall business development and consultation[167]. - Mr. Li Haodong was appointed as a Director on April 1, 2021, and re-designated as a non-executive Director on April 20, 2021, providing strategic and development advice to the Board[170]. - Mr. Man Wing Pong has over 20 years of experience in investment banking, asset management, and corporate management, currently serving as the chief risk officer of Silverstone Investments Limited[174]. - Mr. Suen Chi Wai has over 20 years of experience in corporate finance, focusing on IPOs, mergers, and compliance with listing rules[178]. - Mr. U has been a member of the Economic Development Council since August 2021 and has held various committee positions related to technology and talent development in Macau[176]. - Mr. U has received multiple awards for his contributions to academic research and industry development, highlighting his influence in the sector[177]. Financial Position - As of December 31, 2023, the Group had cash and cash equivalents of approximately HK$28.7 million, a decrease from approximately HK$105.5 million as of December 31, 2022[1]. - The Group's gearing ratio as of December 31, 2023, was approximately 3.3%, with total borrowings in RMB of approximately HK$11.1 million[1]. - The Group had capital commitments of approximately HK$1,252,000 as of December 31, 2023, related to capital expenditure for property, plant, and equipment[1]. - The Group's liquidity position remained healthy throughout FY2023, with a conservative treasury policy in place[1]. - The Group's bank deposit of approximately HK$53.3 million was restricted for securing banking facilities and a bank guarantee requested by a supplier[1]. - The Group's total lease liabilities as of December 31, 2023, were approximately HK$11.2 million, down from approximately HK$12.2 million in the previous year[1]. - The Group's financing costs decreased by approximately HK$1.5 million or 65.2% to approximately HK$0.8 million in FY2023, due to the expiration of certain redeemable financial liabilities[77]. - The foreign exchange risk is considered minimal as the majority of monetary assets and liabilities are denominated in HK$, MOP, and US$[80]. - The Group's sales and service costs increased by approximately HK$121.4 million or 25.3% from about HK$480.5 million in FY2022 to approximately HK$601.9 million in FY2023[99]. - Total staff costs incurred by the Group for FY2023 were approximately HK$112.1 million compared to approximately HK$90.2 million for FY2022[114]. - The Group employed a total of 287 employees as of December 31, 2023, up from 249 employees as of December 31, 2022[114]. Dividend Policy - The Board has resolved not to recommend the declaration of a final dividend for FY2023, consistent with FY2022[122].

Revenue Growth - The group's revenue increased by approximately HKD 136.8 million or 23.6% from about HKD 580.8 million in FY2022 to about HKD 717.6 million in FY2023, driven by an increase in revenue from enterprise IT solutions and distribution and resale businesses[1]. - The group's revenue increased from approximately HKD 580.8 million in FY2022 to approximately HKD 717.6 million in FY2023, representing a growth of about 23.6%[40]. - Revenue from customer contracts for 2023 reached HKD 707,172 thousand, an increase from HKD 580,833 thousand in 2022[80]. - The group reported a total income of HKD 717,595 thousand for 2023, compared to HKD 580,833 thousand in 2022, reflecting a significant growth[80]. - Revenue contributions from Macau, Hong Kong, and China were HKD 439.6 million, HKD 145.6 million, and HKD 122.0 million respectively in 2023[53]. - The company's revenue from China increased from approximately HKD 41.1 million in FY2022 to approximately HKD 122.0 million in FY2023, showing significant growth[104]. - Distribution and resale revenue rose from approximately HKD 223.3 million in FY2022 to approximately HKD 251.0 million in FY2023, attributed to an increase in resale order volume in Macau, Hong Kong, and China[106]. Profitability - Gross profit increased by approximately HKD 15.2 million or 15.1% from about HKD 100.4 million in FY2022 to about HKD 115.6 million in FY2023, while the gross profit margin decreased from 17.3% to 16.1% due to a higher weight of lower-margin contracts from China[3]. - The group's net profit increased by approximately HKD 1.3 million or 40.6% from about HKD 3.2 million in FY2022 to about HKD 4.5 million in FY2023[11]. - Net profit for the year increased from approximately HKD 3.2 million in FY2022 to approximately HKD 4.5 million in FY2023, reflecting a growth of about 40.6%[40]. - Total comprehensive income for the year amounted to HKD 5,005,000, significantly up from HKD 806,000 in 2022[152]. - Basic earnings per share attributable to shareholders rose from approximately HKD 0.78 to approximately HKD 0.90, an increase of about 15.4%[40]. - Net profit attributable to shareholders for 2023 was HKD 4,502,000, compared to HKD 3,252,000 in 2022, reflecting a significant increase[166]. Expenses and Costs - The cost of sales and services rose by approximately HKD 121.4 million or 25.3% from about HKD 480.5 million in FY2022 to about HKD 601.9 million in FY2023, with the increase outpacing revenue growth due to lower gross margins from significant contracts in China[2]. - Distribution and selling expenses increased by approximately HKD 7.7 million or 31.3% from about HKD 24.6 million in FY2022 to about HKD 32.3 million in FY2023, mainly due to increased revenue and an expanded marketing team in Hong Kong[6]. - Administrative expenses rose by approximately HKD 13.2 million or 22.5% from about HKD 58.6 million in FY2022 to about HKD 71.8 million in FY2023, driven by business development and expansion in Macau, Hong Kong, and China[7]. - The company's total operating expenses for employee benefits increased to HKD 112,149 thousand in 2023 from HKD 90,221 thousand in 2022[85]. - The company incurred research and development expenses of HKD 10,037,000, which is a 50.5% increase from HKD 6,688,000 in the previous year[142]. Financial Position - As of December 31, 2023, the group's cash and cash equivalents were approximately HKD 28.7 million, a decrease from about HKD 105.5 million as of December 31, 2022, primarily due to increased contract assets and other receivables[13]. - The group's capital debt ratio was approximately 3.3% as of December 31, 2023, with total borrowings of about HKD 11.1 million, including secured bank borrowings and financial liabilities related to discounted notes[14]. - Total equity and liabilities amounted to approximately HKD 583.4 million as of December 31, 2023, compared to HKD 573.1 million in the previous year[44]. - The company's total assets as of December 31, 2023, were HKD 583,403,000, a slight increase from HKD 573,060,000 in 2022[145]. - Cash and cash equivalents decreased to HKD 28,733,000 from HKD 105,519,000 in the previous year, indicating a liquidity contraction[145]. - Trade receivables increased from HKD 147.4 million in 2022 to HKD 179.9 million in 2023, after accounting for credit loss allowances[90]. - Trade receivables totaled HKD 181,513,000 in 2023, up from HKD 149,253,000 in 2022[168]. - Trade payables increased to HKD 174,165,000 in 2023 from HKD 116,385,000 in 2022[172]. Strategic Initiatives - The company plans to allocate approximately 43.8% of the net proceeds, or HKD 40.7 million, towards two IT solution projects in the Greater Bay Area[34]. - The company aims to leverage opportunities in the Greater Bay Area through IT solutions projects, with an estimated cost of HKD 28.3 million for the second quarter of 2024[70]. - The company is focusing on expanding its market share in Macau, Hong Kong, and China, leveraging post-pandemic recovery demand[125]. - The company plans to diversify and expand its existing business in China through a proposed investment in an internet data center in Beijing[102]. - The company aims to enhance its IT solutions by incorporating AI elements and digital content, responding to the anticipated demand for IT solutions in the coming years[105]. - The company has established a new subsidiary, Xiao Zhou Technology Limited, focusing on AIoT and BCI technology development[178]. - The company signed a contract in Guilin for a project related to virtual scenery using BCI technology, enhancing immersive travel experiences[179]. Market and Industry Trends - The demand for IT solutions in the Greater Bay Area is expected to continue growing due to government support and the end of COVID-19 impacts[174]. - The company anticipates increased demand for IT solutions driven by the development of smart cities and IoT networks in Macau[176]. - The Macau government has introduced a five-year development plan (2024-2028) focusing on high-tech industry and traditional industry transformation, which is expected to benefit local IT companies[69]. Corporate Governance - The audit committee has reviewed the annual performance for FY2023 and confirmed that the financial statements fairly reflect the company's financial position and performance[132]. - The company did not recommend the declaration of a final dividend for the fiscal year 2023, compared to no dividend declared for the fiscal year 2022[26]. - The company has not engaged in any buybacks, redemptions, or sales of its listed securities since the start of the fiscal year 2023[25]. - The company maintained a public float of at least 25% of issued shares as required by the Hong Kong Stock Exchange[28]. - There were no significant events after the reporting period that required adjustments to the financial statements[24].

Financial Performance - Revenue for the six months ended 30 June 2023 was HK$394,144 thousand, a significant increase from HK$247,015 thousand in the same period in 2022[191] - Gross profit for the six months ended 30 June 2023 was HK$51,153 thousand, compared to HK$49,112 thousand in the same period in 2022[191] - Operating profit for the six months ended 30 June 2023 was HK$2,010 thousand, a decrease from HK$11,005 thousand in the same period in 2022[191] - Net finance income for the six months ended 30 June 2023 was HK$727 thousand, compared to a net finance cost of HK$1,258 thousand in the same period in 2022[191] - Profit before income tax for the six months ended 30 June 2023 was HK$2,737 thousand, down from HK$9,747 thousand in the same period in 2022[191] - Profit for the period ended 30 June 2023 was HK$1,238 thousand, a decrease from HK$7,136 thousand in the same period in 2022[191] - Basic earnings per share for the six months ended 30 June 2023 were HK$0.25, down from HK$2.06 in the same period in 2022[191] - Diluted earnings per share for the six months ended 30 June 2023 were HK$0.25, down from HK$2.03 in the same period in 2022[191] Bank Deposits and Facilities - Bank deposits restricted for securing banking facilities increased to HK$53.9 million as of 30 June 2023, up from HK$53.3 million as of 31 December 2022[189]