OKG TECH(01499)

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欧科云链(01499) - 2021 - 中期财报
2020-12-21 10:48
Financial Performance - Revenue for the six months ended 30 September 2020 amounted to approximately HK$236.5 million, a decrease of 17.9% compared to approximately HK$288.3 million for the same period in 2019[10]. - Loss attributable to the owners of the Company for the six months ended 30 September 2020 was approximately HK$23.8 million, compared to a loss of approximately HK$25.0 million for the same period in 2019[10]. - Basic and diluted loss per share for the six months ended 30 September 2020 was approximately HK cent 0.45, slightly improved from approximately HK cent 0.48 for the same period in 2019[10]. - Total revenue for the Group was approximately HK$236.5 million, representing a decrease of approximately 18.0% from approximately HK$288.3 million in 2019, primarily due to a decrease in the number of projects undertaken[40]. - Gross profit for the Group increased to approximately HK$26.4 million, up 21.1% from approximately HK$21.8 million in 2019, with gross profit margin rising by 3.6 percentage points to 11.2%[41]. - The Group recorded a net loss of approximately HK$23.8 million for the Period, a decrease of 4.8% compared to a loss of approximately HK$25.0 million in 2019, mainly due to improved gross profit margin[45]. - The total comprehensive loss for the period was HK$23,352,000, which includes a loss of HK$23,837,000 and other comprehensive income of HK$485,000[160]. Revenue Breakdown - The Group's major sources of revenue included foundation works, construction waste handling services, technology services, money lending business, and investments in securities[10]. - Revenue from foundation works and ancillary services decreased by approximately HK$103.7 million or 52.6% to HK$93.6 million compared to HK$197.3 million for the corresponding period in 2019[15]. - Revenue from construction wastes handling services increased by approximately HK$47.2 million or 58.9% to HK$127.3 million compared to HK$80.1 million for the corresponding period in 2019[15]. - Revenue from technology services segment amounted to approximately HK$13.9 million, an increase of approximately HK$5.8 million or 71.6% compared to HK$8.1 million in 2019[29]. - Revenue from the money lending business was approximately HK$2.9 million, slightly down from approximately HK$3.0 million in 2019, while gross profit was approximately HK$2.6 million compared to HK$2.7 million in 2019[29]. Expenses and Costs - Administrative and other operating expenses increased to approximately HK$49.0 million, up 9.4% from approximately HK$44.8 million in 2019, driven by a focus on data science and information technology opportunities[45]. - Finance costs decreased to approximately HK$4.1 million, a reduction of approximately 14.6% from approximately HK$4.8 million in 2019, attributed to lower interest on lease liabilities[45]. - Unallocated corporate expenses amounted to HK$44,847,000, impacting overall profitability[199]. Assets and Liabilities - Total assets as of September 30, 2020, were HK$594,444,000, down from HK$603,215,000 as of March 31, 2020[129]. - Current liabilities increased to HK$302,007,000 from HK$286,770,000, reflecting a rise of 5.4%[132]. - Total equity decreased to HK$289,674,000 from HK$301,143,000, a decline of 3.8%[129]. - Cash held with brokers and bank balances increased to HK$242,187,000 from HK$239,571,000, showing a slight increase of 0.7%[129]. - Contract assets rose to HK$121,906,000 from HK$104,429,000, marking an increase of 16.8%[129]. Business Operations - There was no material change in the Group's business nature and principal activities during the reporting period[10]. - The Group was awarded 1 new contract with a total contract value of approximately HK$103 million during the period[17]. - As of September 30, 2020, the Group had 10 projects in progress with a total contract value of approximately HK$817.9 million[20]. - The Group completed 1 project during the period with a total contract value of approximately HK$41.9 million[27]. Shareholder Information - The total number of shares capital as of the report date was 5,378,580,000[66]. - Mr. Xu Mingxin holds 3,904,925,001 shares, representing approximately 72.62% of the total issued share capital of the Company[71]. - The total number of issued shares of the Company as of September 30, 2020, was 5,377,080,000 shares[85]. - As of September 30, 2020, a total of 262,500,000 share options were vested, including 51,210,000 options exercised, leaving 147,420,000 exercisable options[94]. Corporate Governance - The Company has complied with the Corporate Governance Code, with a noted exception regarding the roles of Chairman and Chief Executive Officer being held by the same individual since 9 July 2018[1]. - The Audit Committee reviewed and approved the unaudited condensed consolidated financial information for the period, confirming compliance with applicable accounting standards and Listing Rules[118]. - The Company maintains sufficient public float as required under the Listing Rules as of the report date[113]. - The Company has made adequate disclosures in accordance with applicable legal requirements and accounting standards[120].
欧科云链(01499) - 2020 - 年度财报
2020-07-27 10:27
Business Challenges and Strategies - The Group faced significant challenges in the year due to Sino-US trade frictions, tariff increases, and the COVID-19 pandemic, which impacted economic growth and business operations[13]. - Despite the challenges, the Group focused on investment opportunities in information and financial technologies, benefiting from the experience of its controlling shareholder, OKC Corporation[14]. - The Group initiated technical services and investments in digital and information technology, aligning with its development strategy in these fields[14]. - The Group changed its corporate name to "OKG Technology Holdings Limited" to better reflect its business strategy and corporate identity[14]. - Multiple subsidiaries were established to explore new opportunities in financial and information technology on a global scale[14]. Financial Performance - The Group recorded total revenue of approximately HK$570.3 million for the Year, an increase of approximately 56.3% from HK$205.4 million over the same period last year[20]. - Revenue from foundation works and ancillary services amounted to approximately HK$325.4 million, representing an increase of 26.0% compared to approximately HK$258.2 million for the year ended March 31, 2019[41]. - Revenue from the technical services segment was approximately HK$24.5 million, accounting for 4.3% of the total revenue[20]. - Revenue from construction waste handling services amounted to approximately HK$224.7 million, an increase of approximately HK$120.1 million compared to approximately HK$104.6 million for the year ended March 31, 2019[49]. - Revenue from the money lending business was HK$5.8 million, up from HK$2.3 million in 2019, with a gross profit of HK$4.8 million compared to HK$1.5 million in 2019[69]. - The Group recorded a net loss of approximately HK$61.6 million for the Year, compared to a loss of approximately HK$27.2 million for the corresponding period in 2019, representing an increase in loss of 126.5%[89]. - Administrative and other operating expenses increased by approximately 71.5% to approximately HK$91.4 million from approximately HK$53.3 million in the previous year[81]. - Finance costs increased by approximately 31.9% from approximately HK$6.9 million to approximately HK$9.1 million due to increased interest expenses from new accounting standards on leases[82]. Business Transformation and Technology - The Group's business transformation has commenced, focusing on the development and application of blockchain technologies[24]. - OKLink Fintech Limited launched a blockchain explorer and USDK compliant stable coin business during the Year[25]. - The Group aims to maintain its technological leadership in the blockchain industry while exploring new opportunities in financial technology and information technology[28]. - The Group's business upgrading and transformation in the financial technology industry and blockchain industry has achieved initial results[28]. - The Group is actively applying for a Money Services Operator license in Hong Kong to launch digital assets custody services[106]. - The Group entered into a technology service agreement with Prime Trust, LLC for the development of a platform providing USDK services[113]. Corporate Governance and Management - The Company has adopted a code of conduct for directors' securities transactions that meets or exceeds the standards set out in the Model Code for Securities Transactions by Directors of Listed Companies[176]. - The Board is responsible for determining appropriate corporate governance practices and ensuring processes are in place to achieve corporate governance objectives[177]. - The Company will continue to review and enhance its corporate governance practices to ensure compliance with the CG Code[183]. - Each newly appointed Director receives formal and comprehensive induction to understand the business and operations of the Company[183]. - All Directors confirmed compliance with the Model Code during the Year and up to the date of the annual report[178]. Staff and Human Resources - The Group employed 225 staff as of March 31, 2020, an increase from 148 staff as of March 31, 2019[108]. - Total staff costs for the year amounted to approximately HK$102.7 million, compared to approximately HK$57.6 million for the year ended March 31, 2019[108]. Market and Future Outlook - The Group aims to provide comprehensive and professional data services to enterprise users through multi-dimensional statistics and mining analysis of blockchain data[105]. - The management plans to maintain long-term relationships with existing major customers while expanding into new markets and controlling expenditures to stabilize operating costs[98]. - The strategic direction includes potential mergers and acquisitions to bolster market position and technological advancements[151].
欧科云链(01499) - 2020 - 中期财报
2019-12-12 08:41
Financial Performance - The company reported a significant increase in revenue, achieving a total of $150 million for the first half of 2019, representing a 25% year-over-year growth[6]. - Revenue for the six months ended 30 September 2019 amounted to approximately HK$288.3 million, an increase of approximately HK$181.5 million or 170% compared to HK$106.8 million for the same period in 2018[14]. - The Group recorded revenue of approximately HK$288.3 million for the Period, representing an increase of approximately 169.9% compared to approximately HK$106.8 million for the corresponding period in 2018[38]. - Revenue from foundation works and ancillary services for the Period was approximately HK$197.3 million, an increase of approximately HK$134.5 million or 214.2% compared to HK$62.8 million for the corresponding period in 2018[16]. - Revenue from construction wastes handling services for the Period was approximately HK$80.1 million, an increase of approximately HK$36.3 million or 82.9% compared to HK$43.8 million for the corresponding period in 2018[16]. - The gross profit of the Group for the Period amounted to approximately HK$21.8 million, representing an increase of approximately 489.2% compared to approximately HK$3.7 million for the corresponding period in 2018[38]. - Gross profit for the period was HK$21,807,000, compared to HK$3,738,000 in 2018, indicating a substantial increase in profitability[125]. - Loss attributable to the owners of the Company for the six months ended 30 September 2019 was approximately HK$25.0 million, compared to a loss of approximately HK$17.8 million for the same period in 2018[14]. - The operating loss for the period was HK$19,966,000, worsening from a loss of HK$14,303,000 in the previous year[125]. - The Group recorded a net loss of approximately HK$25.0 million for the period, an increase of 40.4% compared to a loss of approximately HK$17.8 million in the same period of 2018[48]. Operational Efficiency - Cash flow from operations increased to $25 million, up from $20 million, indicating stronger operational efficiency[6]. - The Group's interest-bearing debts as of September 30, 2019, amounted to approximately HK$195.7 million, compared to approximately HK$143.8 million as of March 31, 2019[53]. - The gearing ratio increased to approximately 62.1% as of September 30, 2019, from approximately 42.1% as of March 31, 2019, primarily due to the implementation of a new accounting standard on lease liabilities[53]. - The Group recorded an increase in contract assets to HK$129,433,000 from HK$90,742,000, representing a growth of 43%[128]. - For the six months ended September 30, 2019, the net cash used in operating activities was HK$12,633,000, a significant decrease compared to HK$63,509,000 generated in the same period of 2018[143]. Future Outlook - The company provided an optimistic outlook for the second half of 2019, projecting a revenue growth of 20% to 30%[6]. - New product launches are expected to contribute an additional $30 million in revenue by the end of 2019[6]. - Market expansion plans include entering two new regions, which are anticipated to increase market share by 10%[6]. - The management believes that information technologies and financial technologies provide good opportunities to enhance the Group's long-term growth potential and broaden income sources[51]. Investments and Acquisitions - The company is considering strategic acquisitions to enhance its product offerings, with a budget of $20 million earmarked for potential deals[6]. - The Group is actively exploring various business opportunities related to information technologies and financial technologies both in Hong Kong and overseas[51]. - The Group has commenced the business in providing technology services to broaden its investment strategy[147]. - As of September 30, 2019, the Group had no plans for material investments or acquisitions of capital assets[80]. Corporate Governance - The Company has established an Audit Committee comprising three independent non-executive Directors[119]. - The Company periodically reviews its corporate governance practices to ensure compliance with the CG Code[101]. - The independent non-executive Directors are subject to retirement by rotation and re-election at the Company's annual general meeting[104]. Accounting Policies - The Group's financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting"[147]. - The application of new and amendments to HKFRSs in the current period has had no material impact on the Group's financial positions and performance[166]. - The Group applied HKFRS 16 for the first time in the current interim period, superseding HKAS 17 "Leases" and related interpretations[172]. - The transition to HKFRS 16 has resulted in significant changes in the Group's financial reporting practices[172]. - The application of HKFRS 16 is expected to enhance transparency in the Group's financial reporting regarding lease obligations[172]. Staff and Employment - The Group employed 217 staff as of September 30, 2019, an increase from 148 staff as of March 31, 2019[66]. - Total staff costs, including directors' emoluments, amounted to approximately HK$45.7 million for the period, compared to approximately HK$24.7 million for the same period in 2018[66]. Legal and Regulatory Matters - The Group is involved in various claims and legal proceedings, but does not expect any material adverse effects on its financial position[66]. - The Group's foreign exchange risk is considered insignificant as most transactions are denominated in Hong Kong dollars[63].
欧科云链(01499) - 2019 - 年度财报
2019-07-22 04:08
Financial Performance - LEAP Holdings Group reported a revenue of HKD 150 million for the fiscal year 2019, representing a 10% increase compared to the previous year[10]. - The company achieved a net profit of HKD 30 million, which is a 15% increase year-over-year[10]. - Revenue increased by approximately 22.2% from approximately HK$298.6 million for the year ended 31 March 2018 to approximately HK$364.9 million for the Year[33]. - The Group recorded a net loss of approximately HK$27.2 million for the Year, compared to a profit of approximately HK$25.4 million for the corresponding period in 2018[50]. - Other income, gains, and losses amounted to approximately HK$4.0 million during the Year, compared to HK$2.7 million in 2018[39]. - Administrative and other operating expenses increased by approximately 37.4% to approximately HK$53.3 million, primarily due to additional staff costs and increased rental expenses[40]. - Finance costs increased by approximately 137.9% from approximately HK$2.9 million to approximately HK$6.9 million, mainly due to accrued interests on a loan from a related party[46]. Revenue Sources - The Group's major sources of revenue include foundation works, construction wastes handling services, money lending business, and investments in securities in Hong Kong[11]. - Revenue from foundation works and ancillary services amounted to approximately HK$258.2 million, representing an increase of 69.4% compared to HK$152.4 million for the year ended 31 March 2018[11]. - Revenue from construction wastes handling services was approximately HK$104.6 million, an increase of approximately HK$5.0 million compared to HK$99.6 million for the year ended 31 March 2018[11]. Operational Highlights - User data indicated a growth in active clients by 20%, reaching a total of 5,000 clients by the end of 2019[10]. - The management highlighted the successful launch of two new products in 2019, contributing to 30% of total revenue[10]. - The Group was awarded 7 new contracts with a total contract value of approximately HK$495.0 million during the year[17]. - As of 31 March 2019, the Group had 16 projects in progress with a total contract value of approximately HK$874.7 million[20]. - The Group completed 5 projects with a total contract value of approximately HK$153.85 million during the Year[26]. Strategic Outlook - The management provided a positive outlook for 2020, projecting a revenue growth of 12% to 15% driven by new product launches and market expansion[10]. - LEAP Holdings aims to enhance its corporate governance practices, with new policies set to be implemented in 2020[10]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[10]. - LEAP Holdings is considering strategic acquisitions to bolster its service offerings, with a budget of HKD 50 million allocated for potential mergers and acquisitions[10]. Financial Health - The company reported a cash flow from operations of HKD 40 million, indicating strong liquidity and financial health[10]. - As of March 31, 2019, the Group had cash and cash equivalents of approximately HK$332.5 million, a slight increase from HK$330.6 million as of March 31, 2018[59]. - The gearing ratio of the Group as of March 31, 2019, was approximately 42.1%, up from 38.2% as of March 31, 2018, primarily due to accrued interests on a loan from a related party[60]. Corporate Governance - The Board is committed to high standards of corporate governance practices, which are crucial for improving efficiency and safeguarding shareholder interests[106]. - The company reviews its corporate governance practices regularly to meet stakeholder expectations and comply with regulatory requirements[106]. - The Company aims to fulfill its commitment to corporate governance excellence amidst increasingly stringent regulatory requirements[106]. - The Board comprises eight members, including three executive Directors, two non-executive Directors, and three independent non-executive Directors[134]. - The Company has adopted a code of conduct for Directors' securities transactions that meets or exceeds the standards set out in the Model Code[115]. Management and Directors - Mr. Ren serves as the executive director, chairman, and CEO of the company, with a legal background and experience in various listed companies[84]. - Mr. Pu has extensive experience in brand management, media, marketing, and financial services, having worked for OKCoin Technology Company Limited since April 2019[78]. - The company has several wholly-owned subsidiaries managed by its directors, enhancing operational efficiency[89]. - The Nomination Committee identifies candidates with appropriate expertise and experience for the appointment of new Directors[168]. - The Company aims to maintain a diverse Board in terms of skills, experience, knowledge, expertise, culture, independence, age, and gender[185].