Financial Performance - The company reported a profit of HKD 1,238,000 for the six months ended June 30, 2023, compared to HKD 7,136,000 for the same period in 2022, representing a decrease of approximately 82.7%[9]. - The company’s total comprehensive income for the period was HKD 1,342,000, down from HKD 6,865,000 in the previous year, a decrease of approximately 80.5%[13]. - Profit before tax decreased from approximately HKD 9.7 million to approximately HKD 2.7 million, a decline of about HKD 7.0 million or 72.2% compared to the previous fiscal period[32]. - Basic earnings per share dropped from approximately HKD 2.06 to approximately HKD 0.25, a decrease of about HKD 1.81 or 87.9% year-on-year[32]. - The group reported a basic earnings per share of HKD 0.25 for the six months ended June 30, 2023, down from HKD 2.06 in the same period of 2022, reflecting a decrease of approximately 87.9%[78]. - The total profit attributable to shareholders for the six months ended June 30, 2023, was HKD 1,238,000, compared to HKD 7,136,000 for the same period in 2022, indicating a decline of about 82.7%[78]. Revenue and Growth - The company's revenue increased from approximately HKD 247.0 million to approximately HKD 394.1 million, representing a growth of about HKD 147.1 million or 59.6% compared to the previous fiscal period[32]. - Total revenue for the six months ended June 30, 2023, was HKD 394,144,000, a 59.7% increase from HKD 247,015,000 in the same period of 2022[68]. - Total revenue from customer contracts was HKD 388.9 million, compared to HKD 246.3 million in the previous period[30]. - Revenue from professional IT services significantly increased to HKD 227.2 million from HKD 91.9 million, marking a growth of 147.0%[28]. - Revenue from distribution and resale totaled HKD 127.4 million, up from HKD 96.3 million, reflecting a growth of 32.3%[28]. - Revenue from enterprise IT solutions rose from approximately HKD 150.7 million to approximately HKD 266.8 million, primarily due to an increase of approximately HKD 135.2 million in professional IT services[125]. - Revenue from China increased from approximately HKD 18.7 million to approximately HKD 94.7 million, marking a significant growth of approximately HKD 76.0 million or 406.4%[123]. Assets and Liabilities - Total assets decreased from HKD 573,060,000 as of December 31, 2022, to HKD 512,764,000 as of June 30, 2023, a decline of about 10.5%[14]. - Total liabilities decreased from HKD 242,037,000 to HKD 180,399,000, reflecting a reduction of approximately 25.5%[3]. - The company’s cash and cash equivalents significantly decreased from HKD 105,519,000 to HKD 28,696,000, a decline of approximately 72.8%[14]. - The company’s trade receivables decreased from HKD 147,447,000 to HKD 132,501,000, a decline of about 10.1%[14]. - The company’s liabilities related to contracts decreased from HKD 84,735,000 to HKD 28,791,000, a reduction of about 66.1%[23]. - The company reported a decrease in trade payables to HKD 109,723,000 as of June 30, 2023, compared to HKD 116,385,000 at the end of 2022[57]. Expenses - The company reported a total cost of sales of HKD 342.99 million, compared to HKD 197.90 million in the previous period[39]. - Cost of goods sold and services provided for the six months ended June 30, 2023, was HKD 322,604,000, up 79.5% from HKD 179,620,000 in the prior year[47]. - Employee benefits expenses increased to HKD 50,571,000, representing a 25.7% rise from HKD 40,235,000 in 2022[47]. - Research and development expenses were HKD 4.3 million, indicating investment in new technologies and product development[39]. - Sales costs increased by approximately HKD 145.1 million or 73.3% to about HKD 343.0 million, consistent with the revenue growth during the same period[102]. - Sales and distribution expenses increased by approximately HKD 1.6 million or 14.8% to about HKD 12.4 million, mainly due to increased sales personnel costs[104]. - Income tax expenses decreased by approximately HKD 1.1 million or 42.3% to about HKD 1.5 million, attributed to a reduction in pre-tax profits[108]. Strategic Plans and Developments - The company plans to expand its service offerings in Hong Kong and the Greater Bay Area, leveraging its technology expertise and existing distribution business[64]. - The first batch of commercialized BCI headsets is expected to launch in the second half of 2024, integrating with various AI application scenarios[67]. - The group plans to accelerate investment in IT infrastructure upgrades and new project investments as the market recovers post-COVID-19[87]. - The group plans to leverage its competitive advantages to maintain its leading position in Macau and explore opportunities in Hong Kong and China, particularly in the Greater Bay Area[93]. - The group anticipates strong demand for IT solutions in the near future, driven by the recovery of the economy in Macau, Hong Kong, and China[98]. - The group has established a new wholly-owned subsidiary, Xiao Zhou Technology Limited, focusing on the development of brain-computer interaction and related technologies[90]. - A joint laboratory has been established with Guangdong Intelligent Technology Research Institute to focus on brain-computer interface technology[92]. - The group anticipates that AIoT and BCI technologies will become new development trends in the IT industry, with broad applications across various sectors[92]. Human Resources - The total number of full-time employees increased from 228 as of June 30, 2022, to 337 as of June 30, 2023, representing a growth of approximately 47.8%[142]. - Employee costs for the fiscal period 2023 amounted to approximately HKD 50.6 million, compared to HKD 40.2 million in the fiscal period 2022, indicating an increase of about 25.9%[142]. - The company has established an annual review system to assess employee performance, which influences salary adjustments, bonuses, and promotions[142]. Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring oversight of the group's financial reporting and internal control systems[153]. - The company has adhered to corporate governance practices, with a noted deviation regarding the roles of the Chairman and CEO being held by the same individual[168]. - The corporate tax rate applicable to the group remains at 25% for both the fiscal periods of 2023 and 2022[74]. Cash Management and Funding - The group maintained a conservative approach to cash management, ensuring a healthy liquidity position throughout the fiscal period of 2023[136]. - The net proceeds from the IPO were approximately HKD 93.0 million, with an adjustment of about HKD 1.1 million planned for business strategy applications[152]. - The group plans to continue seeking potential fundraising activities to support its R&D efforts in the second half of 2023[120]. - The allocation of net proceeds includes 43.8% (HKD 40.7 million) for capturing opportunities in the Greater Bay Area[171]. - 30.4% (HKD 28.3 million) of the proceeds is allocated for the preliminary costs of two IT solutions projects[171]. - 15.8% (HKD 14.7 million) is designated to enhance product development capabilities, with HKD 6.9 million already utilized[171]. - 10.0% (HKD 9.3 million) is allocated for general working capital, with HKD 4.2 million already utilized[171]. Risks and Contingencies - The company believes that the foreign exchange risk is minimal due to most monetary assets and liabilities being denominated in HKD, MOP, and USD[163]. - The company reported no significant contingent liabilities as of June 30, 2023, consistent with the previous year[164].

Revenue Performance - Revenue from distribution and resale increased from HK$139.3 million in FY2021 to HK$223.3 million in FY2022, driven by large resale orders in China and fulfillment of outstanding wireless LAN product orders in Hong Kong[4] - Enterprise IT solutions revenue decreased from HK$395.0 million in FY2021 to HK$357.5 million in FY2022, primarily due to reduced professional IT services and IT equipment leasing revenues, partially offset by a HK$5.6 million increase in managed services[2] - Total revenue increased by approximately HK$46.5 million or 8.7% to HK$580.8 million in FY2022, driven by an HK$84.0 million increase in distribution and resale business revenue, offset by an HK$37.5 million decrease in Enterprise IT solutions revenue[36] - Revenue from the PRC surged from HK$0.2 million in FY2021 to HK$41.1 million in FY2022, reflecting the company's successful expansion in the region[33] - Revenue increased by 8.7% from HKD 534.3 million in FY2021 to HKD 580.8 million in FY2022[54] - Revenue increased from approximately HK$534.3 million in FY2021 to approximately HK$580.8 million in FY2022, representing an 8.7% increase[127] - Revenue from the PRC increased significantly from approximately HK$0.2 million in FY2021 to approximately HK$41.1 million in FY2022, demonstrating the company's successful expansion in the Greater Bay Area[135] - Revenue from Enterprise IT solutions decreased from HK$395.0 million in FY2021 to HK$357.5 million in FY2022, driven by a decrease in Professional IT services and IT equipment leasing revenues[181] - Distribution and resale revenue increased from HK$139.3 million in FY2021 to HK$223.3 million in FY2022, due to larger resale orders in China and fulfillment of outstanding orders in Hong Kong[185] - Revenue from China increased significantly from HK$0.2 million in FY2021 to HK$41.1 million in FY2022, reflecting the company's expansion in the Chinese market[183] R&D and Innovation - R&D expenses increased by HK$6.7 million in FY2022, mainly for new AIoT and BCI teams in China focusing on metaverse-related technologies like 3D reconstruction, haptic feedback, and iris recognition[8] - The company established AIoT and BCI teams in China in 2022, with 57 R&D employees as of December 2022, and expects further growth in R&D headcount in FY2023[21] - BCI technology is being developed for applications in healthcare, smart automobiles, smart homes, and wearable devices, with potential integration into the company's existing IT solutions[21] - The non-invasive BCI headband, a closed-loop control system, is being applied in medical rehabilitation, AIoT, and the metaverse industry, enhancing user interaction experiences[46] - The company tested metaverse-related technologies in various scenarios, including exhibitions, education, entertainment, and cultural tours, leveraging its "Metaverse Public Cloud Platform Space"[23] - R&D expenses increased by HKD 6.7 million, primarily due to the establishment of new AIoT and BCI teams in China[51] - The company developed an experimental BCI headset, aiming to commercialize it when the technology and operational environment mature[47] - The company developed an experimental BCI headband, a non-invasive brain-computer interface product, with plans to commercialize it once the technology and operating environment mature[149] - The company made progress in R&D for BCI technology, which is expected to become a future profit driver, particularly in the metaverse industry[150] - The company established an AIoT and BCI team in FY2022, focusing on brain-computer interaction and sensory-induced EEG signal acquisition technologies, with 57 R&D employees in China as of December 2022[162] - The company is developing a "Metaverse Public Cloud Platform Space" using self-developed 3D reconstruction and AI rendering algorithms, aiming to enhance user interaction in the metaverse[172] - The company's non-invasive BCI headband, a closed-loop control system, is being developed for applications in medical rehabilitation, AIoT, and the metaverse industry[173] Financial Position and Expenses - Other income and net gains increased by HK$3.6 million (289.5%) to HK$4.8 million in FY2022, primarily due to COVID-19 related subsidies in Hong Kong and rental subventions in China[6] - Cash and cash equivalents increased significantly to HK$105.5 million as of December 31, 2022, compared to HK$14.5 million in the previous year[14] - The company's gearing ratio decreased to 0% as of December 31, 2022, from 18.6% in the previous year[14] - Profit for the year decreased by HK$20.8 million (86.7%) to HK$3.2 million in FY2022, primarily due to reduced pre-tax profit[13] - Sales and distribution expenses increased by HK$5.5 million (8.9%) to HK$67.2 million in FY2022, mainly due to increased entertainment, travel, and depreciation costs[10] - Income tax expense decreased by HK$2.6 million (43.3%) to HK$3.4 million in FY2022, with an effective tax rate of 51.3%[13] - The company maintained a conservative treasury policy, focusing on credit risk assessment and maintaining adequate cash levels for operations[13] - Gross profit decreased by HK$11.7 million or 10.4% to HK$100.4 million in FY2022, primarily due to lower gross profit margin projects and increased contribution from lower-margin distribution and resale business[36] - Selling and distribution expenses increased by HK$5.9 million or 31.5% to HK$24.6 million in FY2022, driven by expanded sales and marketing teams and increased sponsorship activities[38] - Net financing costs decreased by 41.2% from HKD 1.7 million in FY2021 to HKD 1.0 million in FY2022[57] - Total staff costs increased from HKD 72.7 million in FY2021 to HKD 90.2 million in FY2022, with the number of employees rising from 189 to 249[63] - General and administrative expenses increased by HK$5.5 million (8.9%) to HK$67.2 million in FY2022, primarily due to higher entertainment, travel, and legal expenses related to the company's listing[188] - Sales and distribution expenses increased by HK$5.9 million or 31.5% to HK$24.6 million in FY2022, driven by expanded sales and marketing teams and increased sponsorship activities in Hong Kong and China[190] - Net finance costs decreased by HK$0.7 million or 41.2% to HK$1.0 million in FY2022, primarily due to increased finance income from bank deposits[193] - The Group had no borrowings as of 31 December 2022, compared to HK$31.5 million in 2021, with total lease liabilities of HK$12.2 million (2021: HK$10.1 million)[195] - The Group did not engage in any hedging activities using financial instruments for foreign exchange risk management during FY2022 and FY2021[197] Market Expansion and Strategic Initiatives - The company expects strong demand for Enterprise IT services in 2023, supported by cybersecurity awareness and supportive policies in Macau, Hong Kong, and the Greater Bay Area[33] - The company successfully listed on the Main Board of the Stock Exchange on 15 July 2022, issuing 125,000,000 ordinary shares at HKD 1.08 per share[49][59] - The company plans to leverage its competitive advantages to maintain its leading position in Macau and explore opportunities in Hong Kong and the Greater Bay Area[52] - The company successfully listed on the Main Board of the Stock Exchange on July 15, 2022, marking a significant milestone in its development[136] - The company expects to benefit from the increasing demand for IT solutions in Macau due to the new 10-year gaming operator license finalized in December 2022, which requires operators to invest in non-gaming industries[140] - The company's subsidiary in Hengqin is well-positioned to explore market opportunities due to the city's focus on developing tourism, leisure, healthcare, and high-tech industries, along with preferential tax treatments[153] - The company's distribution and resale business segment saw an increase in orders, contributing to revenue growth in FY2022 despite the ongoing impact of the COVID-19 pandemic[154] - The company plans to extend its service scope by leveraging its technical expertise in Macau and expanding its enterprise IT solution business in Hong Kong and the Greater Bay Area[143] - The development of 5G networks and IoT in Macau, supported by government policies, is expected to drive demand for IT solutions in the coming years[146] - The company's revenue growth in the PRC reflects a strategic shift to reduce reliance on the Macau market, with significant progress achieved in FY2022[135] - The company expects increased demand for IT solutions in Macau's "Big Health" industry, modern financial services, high technology, and conferences/exhibitions sectors due to the government's "1+4" diversification strategy[167] - The company plans to expand its service scope in Hong Kong and the Greater Bay Area, leveraging its existing distribution business and IT maintenance services[167] - The company is exploring fundraising opportunities from market investors and financial institutions in China to support its R&D efforts[162] Use of Proceeds and Capital Allocation - Net proceeds from the listing amounted to HKD 93.0 million, with no material changes to the planned use of proceeds as disclosed in the prospectus[67][70] - The Group allocated 43.8% of the net proceeds to capturing business opportunities in the Greater Bay Area, with HK$33.2 million utilized out of the planned HK$40.7 million[93] - 30.4% of the net proceeds were allocated to upfront costs of two Enterprise IT solution projects, with HK$28.3 million fully utilized[93] - 15.8% of the net proceeds were allocated to strengthening product development capabilities, with HK$10.2 million utilized out of the planned HK$14.7 million[93] - 10.0% of the net proceeds were allocated to general working capital, with HK$7.0 million utilized out of the planned HK$9.3 million[93] - The Group had no capital commitments as of 31 December 2022, compared to approximately HK$0.9 million as of 31 December 2021[87] - The Group has no other updates on the use of net proceeds beyond the disclosed allocations as of the date of the annual report[94] Leadership and Governance - Mr. Chao Ka Chon, Chairman and CEO, has over 18 years of experience in the IT industry, including roles at HKBN JOS (Macau) Limited and Noveland Textiles Limited[81][82] - Ms. Chiu Koon Chi, Executive Director, has over 15 years of experience in marketing, including roles at IDT Telecom Asia Pacific Limited and Noveland Textiles Limited[84] Risk Management and Contingencies - No significant contingent liabilities were reported as of 31 December 2022 and 31 December 2021[64] - The company did not pledge any non-financial assets as of 31 December 2022, with restricted bank deposits of HKD 53,317,000[67] - The majority of the Group's monetary assets and liabilities are denominated in HK$, MOP, and US$, with minimal foreign exchange risk due to currency pegs[86] COVID-19 Impact - The company faced adverse economic impacts due to the COVID-19 pandemic in Macau, Hong Kong, and the PRC, yet still achieved revenue growth[127] - The company's distribution and resale business segment saw an increase in orders, contributing to revenue growth in FY2022 despite the ongoing impact of the COVID-19 pandemic[154]

Company Overview - The company successfully listed on the Hong Kong Stock Exchange on July 15, 2022, marking a significant milestone with the stock code 1204.HK[22]. - The company has adhered to corporate governance practices since its listing, with the chairman also serving as the CEO, which the board believes enhances leadership continuity[89]. - The company is currently evaluating new accounting standards and their impact on existing standards after initial application[161]. Financial Performance - Total revenue increased from approximately HKD 534.3 million in FY2021 to approximately HKD 580.8 million in FY2022, representing an increase of about HKD 46.5 million or 8.7%[28]. - Net profit for FY2022 decreased by approximately HKD 20.8 million or 86.7% to approximately HKD 3.2 million from approximately HKD 24.0 million in FY2021[34]. - Basic earnings per share for FY2022 were calculated based on the profit attributable to shareholders divided by the weighted average number of ordinary shares issued[114]. - Basic earnings per share dropped to HKD 0.78 in 2022 from HKD 6.97 in 2021, indicating a decrease of about 88.8%[177]. - The net profit margin declined from approximately 4.5% in the fiscal year 2021 to approximately 0.6% in the fiscal year 2022, a decrease of about 3.9 percentage points[150]. - The effective tax rate for FY2022 was approximately 51.3%, down from 20.0% in FY2021, due to a decrease in pre-tax profits[125]. - The group reported a profit attributable to shareholders of HKD 3,252,000 in 2022, a significant decrease from HKD 24,003,000 in 2021, representing a decline of approximately 86.5%[177]. Revenue Breakdown - Revenue from customer contracts was HKD 580.1 million, compared to HKD 517.6 million in the previous year[111]. - Revenue from enterprise IT solutions decreased by approximately HKD 37.5 million, while revenue from distribution and resale increased by approximately HKD 84.0 million[28]. - Distribution and resale revenue increased from approximately HKD 139.3 million in FY2021 to approximately HKD 223.3 million in FY2022, driven by a higher volume of resale orders in China[121]. - Revenue from China increased significantly from approximately HKD 0.2 million in FY2021 to approximately HKD 41.1 million in FY2022, reflecting successful business expansion efforts[123]. - Revenue from Macau was HKD 371,777,000, accounting for 64% of total revenue, while Hong Kong contributed HKD 167,944,000 (29%) and China contributed HKD 41,112,000 (7%) in 2022[167]. Research and Development - The company established an AIoT team and a BCI team in China, focusing on developing brain-computer interaction technologies and related scenarios, with 57 employees in the R&D department as of December 31, 2022[19]. - The company anticipates continued growth in its R&D team in fiscal year 2023 and is considering fundraising from market investors and financial institutions in China for R&D purposes[19]. - R&D expenses rose by approximately HKD 6.7 million in FY2022, primarily due to the establishment of AIoT and BCI teams in China[132]. - The company is actively developing BCI technology and metaverse applications, which are expected to become significant profit drivers in the future[122]. Operational Highlights - The company continued to maintain its leading position in the IT solutions market in Macau while expanding its distribution and resale business in Hong Kong and China[51]. - The group has not made significant investments or acquisitions during FY2022, maintaining a conservative approach to capital expenditure[40]. - The company is developing a new technology platform with BCI functionality, which can synergize with existing IT solutions and be integrated into various sectors including healthcare and smart devices[46]. - The company plans to commercialize the BCI headset when the technology and operational environment mature[47]. Cost and Expenses - In the fiscal year 2022, the company's sales cost increased by approximately HKD 58.3 million or 13.8% to about HKD 480.5 million, which was higher than the revenue growth due to a reduction in high-margin projects and delays in contract signings caused by COVID-19 in Macau[56]. - Gross profit decreased by approximately HKD 11.7 million or 10.4% to about HKD 100.4 million, attributed to fewer high-margin projects and delays in signing contracts for high-margin projects[56]. - Sales and distribution expenses rose by approximately HKD 5.9 million or 31.5% to about HKD 24.6 million, driven by increased revenue and expansion of sales and marketing teams in Macau and China[58]. - General and administrative expenses increased by approximately HKD 5.5 million or 8.9% to about HKD 67.2 million, primarily due to higher salaries, travel expenses, and professional fees[59]. Cash Flow and Assets - Cash and cash equivalents as of December 31, 2022, were approximately HKD 105.5 million, up from HKD 14.5 million as of December 31, 2021[35]. - Total assets increased from HKD 436.1 million in the fiscal year 2021 to HKD 573.1 million in the fiscal year 2022[143]. - The group’s total liabilities decreased to HKD 242,037,000 in 2022 from HKD 267,234,000 in 2021, a reduction of approximately 9.4%[182]. - The group’s total equity and liabilities increased to HKD 573,060,000 in 2022 from HKD 436,117,000 in 2021, representing an increase of about 31.5%[182]. Future Outlook - The Macau government is promoting a diversification strategy, which is expected to increase demand for IT solutions in various emerging industries, including healthcare and modern financial services[15]. - The company expects to benefit from the investment needs of operators in the gaming industry, following the issuance of a new 10-year gaming license in December 2022[14]. - The development of 5G networks and advancements in data analytics are expected to drive ongoing demand for IT solutions in Macau[15]. - The company aims to diversify revenue sources from different geographical locations by exploring new business opportunities in the Greater Bay Area[123].

IT Solutions Demand and Market Trends - The Group expects steady demand for IT system upgrades, replacements, and maintenance in Macau, with ongoing IT solutions projects unlikely to be affected by the COVID-19 pandemic [12]. - Demand for remote working tools and online teaching platforms, particularly video conferencing software, has significantly increased due to COVID-19, accelerating digitalization in enterprises [12]. - The Macau Government's promotion of smart city development is expected to boost demand for IT solutions services, integrating smart technologies into various sectors [14]. - The advancement of 5G networks and data analytics is driving continuous demand for IT solutions in Macau [14]. - The Group provides IT solutions covering procurement, integration, managed services, and maintenance services to end users in Macau [12]. - The Group distributes IT products to IT solutions providers and resellers, enhancing its market presence [12]. - The overall growth of the information industry in Macau is anticipated to remain positive in the long run [12]. - Market participants in the gaming and hospitality industry are seeking new service features and value-added services due to intensifying competition [12]. - The Group's business expansion opportunities are supported by governmental policies in the Greater Bay Area [14]. - The Group's financial performance is underpinned by a comprehensive strategy to leverage emerging technologies and market trends [14]. Financial Performance - The Group's revenue for the first half of 2022 increased from approximately HK$221.2 million to approximately HK$247.0 million, representing an increase of 11.7% compared to the same period in 2021 [26]. - Revenue from enterprise IT solutions slightly decreased from approximately HK$153.6 million to approximately HK$150.7 million, primarily due to a decrease in Professional IT services revenue by approximately HK$6.0 million [27]. - Revenue from distribution and resale increased from approximately HK$67.5 million to approximately HK$96.3 million, attributed to an increase in resale orders in the PRC and fulfillment of outstanding orders in Hong Kong [35]. - The Group expects an increase in demand for enterprise IT services in the second half of 2022, focusing on expanding Managed services and IT maintenance and consultancy services [32]. - Total revenue increased by approximately HK$25.8 million or 11.7% to approximately HK$247.0 million for FP2022 from approximately HK$221.2 million for FP2021 [41]. - Gross profit increased by approximately HK$5.2 million or 11.9% to approximately HK$49.1 million for FP2022, with a stable gross profit margin of approximately 19.9% [43]. - Other income and net gains increased by approximately HK$0.6 million or 75.8% to approximately HK$1.5 million for FP2022, mainly due to one-off subsidies related to COVID-19 [44]. - Selling and distribution expenses increased by approximately HK$2.0 million or 22.7% to approximately HK$10.8 million for FP2022, attributed to higher salaries and commission expenses [45]. - General and administrative expenses decreased by approximately HK$1.6 million or 5.1% to approximately HK$29.2 million for FP2022, primarily due to reduced listing expenses [52]. - Profit and total comprehensive income for the period increased by approximately HK$3.5 million or 103.3% to approximately HK$6.9 million for FP2022, driven by revenue and gross profit growth [54]. Strategic Initiatives and Investments - The establishment of the AIoT team and BCI team aims to develop core technologies for metaverse experiences, including artificial intelligence and IoT [36]. - The Macau Government has invested extensive resources in IoT network development, which is expected to drive demand for IT solutions in the coming years [19]. - The Group maintains its leading position in the Macau IT solutions market by providing comprehensive end-to-end enterprise IT solutions [25]. - The Group plans to leverage its competitive strengths in Macau to capture business opportunities in the Greater Bay Area, particularly in Hengqin [24]. - The increase in demand for Managed services is driven by governmental bodies in Macau [30]. - The Group's strategy includes exploring new business opportunities in e-commerce and digital payment systems supported by the Macau Government [20]. Share Capital and Corporate Actions - On July 15, 2022, the Company issued a total of 125,000,000 ordinary shares at a price of HK$1.08 per share, increasing the total issued shares to 500,000,000 [73]. - The Company increased its authorized share capital from HK$380,000 to HK$100,000,000 by creating an additional 9,962,000,000 shares [196]. - The Company issued 374,988,858 shares at par value of HK$0.01 each as part of a capitalization issue on July 15, 2022 [196]. - The company was listed on the Stock Exchange on July 15, 2022, enhancing its market presence [101]. Cash Flow and Financial Position - As of June 30, 2022, the Group had cash and cash equivalents of approximately HK$15.8 million, an increase from HK$14.5 million as of December 31, 2021 [57]. - The Group's gearing ratio as of June 30, 2022, was approximately 17.7%, down from 18.6% as of December 31, 2021 [58]. - Total borrowings as of June 30, 2022, were approximately HK$31.1 million, slightly down from HK$31.5 million as of December 31, 2021 [60]. - Short-term borrowings increased to approximately HK$31.1 million as of June 30, 2022, compared to HK$25.5 million as of December 31, 2021 [60]. - The weighted average effective interest rate of the Group's borrowings was approximately 4.63% as of June 30, 2022, up from 4.15% as of December 31, 2021 [60]. - The total staff costs incurred by the Group for FP2022 were approximately HK$40.2 million, compared to approximately HK$33.3 million for FP2021 [68]. - As of June 30, 2022, the Group had capital commitments of approximately HK$0.4 million, down from HK$0.9 million as of December 31, 2021 [68]. - The Group did not have any significant contingent liabilities as of June 30, 2022 [68]. Earnings and Shareholder Returns - Basic earnings per share rose to 2.06 HK cents, up from 0.95 HK cents, reflecting a 117.9% increase [80]. - Profits attributable to shareholders for FP2022 were HK$7,136,000, a 120% increase from HK$3,238,000 in FP2021 [142]. - No interim dividend was paid or declared during FP2022 and FP2021 [141]. - The company did not recommend any interim dividend for FP2022, consistent with FP2021 [77]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to HK$454,420,000, compared to HK$436,117,000 at the end of 2021, showing a growth of 4.9% [87]. - Total equity increased to HK$175,748,000 from HK$168,883,000, indicating a rise of 4.9% [87]. - Current assets totaled HK$403,635,000, up from HK$379,109,000, representing a 6.5% increase [87]. - Trade receivables as of June 30, 2022, totaled HK$178,318,000, down from HK$188,803,000 at December 31, 2021, indicating a decline of 5.4% [170]. - The Group's trade payables increased slightly to HK$109,052,000 as of June 30, 2022, compared to HK$108,753,000 at December 31, 2021, representing a growth of 0.3% [172]. - Current borrowings rose to HK$31,059,000 as of June 30, 2022, from HK$25,522,000 at December 31, 2021, marking an increase of 21.1% [175]. - The Group's total trade payables aged over 3 months increased significantly to HK$30,516,000 as of June 30, 2022, compared to HK$6,916,000 at December 31, 2021, indicating a substantial rise [173].