经营业绩： 重大事项： 百胜中国(09987)发布中期业绩，净利润5.07亿美元 同比增加1.6% 康师傅控股(00322)发布中期业绩，股东应占溢利22.71亿元，同比增长20.5% 丘钛科技(01478)发布中期业绩 期内溢利3.08亿元 同比增加167.59% 珩湾科技(01523)公布中期业绩 净利润约2166.5万美元 同比增加约13.4% 每股派12.34港仙 瑞浦兰钧(00666)公布中期业绩 实现毛利约8.29亿元 同比增长177.8% 金蝶国际(00268)上半年收入同比增加11.24%至31.92亿元 云业务强势领跑 裕元集团(00551)发布中期业绩，股东应占溢利1.71亿美元 同比减少7.2% 博雅互动(00434)发布中期业绩，股东应占利润2.26亿港元 同比减少27.8% 重庆机电(02722)发盈喜 预计中期股东应占净利润同比增长50%左右 安东油田服务(03337)发盈喜 预计中期股东应占利润同比大幅增长41.6%至60.5% 三一国际(00631)发盈喜 预计中期净利润约12.34亿元至13.32亿元 同比增加25%–35% 大唐新能源(01798)前7个月累计完成发电量约2 ...

智通财经APP讯，珩湾科技(01523)公布2025年中期业绩，收入约为6294.3万美元，同比增加约9.9%。净 利润约2166.5万美元，同比增加约13.4%。每股基本盈利约为1.96美仙，中期股息每股12.34港仙。 期内，一次性销售同比增加约8.9%，经常性销售同比增加约12.5%。嵌入式订阅销售通常依循固定网络 优先连接及移动网络优先连接分部过去十二个月的销售额的增长趋势。有机订阅的增长通常受到公司累 积的用户群、订阅率和用户黏着度的影响。期内，拥有订阅的设备数量和订阅使用率钧取得健康增长， 表明经常性收入管道在未来的强势。 公告称，销售增长主要得益于5G产品的强劲表现，但对比于2024年初启动的 Peplink-Starlink合作计划 的强劲势头，部分增长因而有所抵消。 ...

（股份代號：1523） 截至2025年6月30日止六個月 中期業績報告 概要 – 1 – ‧ 截至2025年6月30日止六個月的收入約為62,943,000美元，較去年同期增加約9.9%。 ‧ 於中期內，本集團錄得凈利潤約21,665,000美元，同比增加約13.4%。 ‧ 截至2025年6月30日止六個月本公司錄得每股基本盈利約為1.96美仙，同比增加 約12.6%。 ‧ 董事會已決定於2025年8月26日向於2025年8月15日名列本公司股東名冊的股東派 付截至2025年6月30日止六個月的中期股息每股12.34港仙。 （於開曼群島註冊成立的有限公司） 簡明綜合財務狀況表 | | | 於2025年 | 於2024年 | | --- | --- | --- | --- | | | | 6月30日 | 12月31日 | | | 附註 | 千美元 | 千美元 | | | | （未經審核） | （經審核） | | 非流動資產 | | | | | 物業、廠房及設備 | | 2,680 | 3,366 | | 無形資產 | | 1,648 | 1,855 | | 預付款項及按金 | | 328 | 98 | | 遞延 ...

Core Viewpoint - Hengwan Technology (01523) announced a mid-term dividend of HKD 0.1234 per share to be distributed on August 26, 2025 [1] Company Summary - Hengwan Technology will distribute a mid-term dividend of HKD 0.1234 per share [1]

EF001 免責聲明 第 1 頁 共 2 頁 v 1.1.1 EF001 發行人所發行上市權證/可轉換債券的相關信息 發行人所發行上市權證/可轉換債券 不適用 其他信息 其他信息 不適用 發行人董事 於本公告日期，本公司執行董事為陳永康先生、周傑懷先生、莊明沛先生、楊瑜先生及趙芷盈女士；以及本公司獨立非執行董事為 余健添博士、何志霖先生及溫思聰先生。 第 2 頁 共 2 頁 v 1.1.1 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | --- | --- | | 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。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 珩灣科技有限公司 | | 股份代號 | 01523 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至二零二五年六月三十日止六個月之中期股息 | | | 公告日期 | 2025年7月31日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | ...

Financial Data and Key Metrics Changes - Sales increased by 9.9% year on year to approximately $63 million [2] - Gross profit grew by 10.1% year on year to about $35 million, with a gross profit margin of 55.5% [2] - Profit before tax rose by 17% year on year to $26.6 million, while net profit increased by 13.4% year on year to $21.7 million [3] - Diluted EPS was $1.96 per share, with an interim dividend declared at the same payout ratio of 80% as in the past [3] Business Segment Data and Key Metrics Changes - Sales from the Fixed First Connectivity segment decreased by 13% year on year to $7.6 million [4] - Sales from the Mobile First Connectivity segment increased by 14.4% year on year to $36.8 million [4] - Warranty and support services revenue grew by 6.9% year on year to $13.4 million, while software licenses revenue surged by 33.8% year on year to about $5 million [4] Market Data and Key Metrics Changes - Sales in the EMEA region increased by 39.2% year on year to $20.5 million [5] - Asia Pacific sales rose by 44% year on year to $5.9 million, while sales in other regions, mainly Australia, increased by 25% year on year [5] - Sales to North America decreased by 6.4% year on year to $34 million due to uncertainties with trade policies [5] Company Strategy and Development Direction - The company is optimistic about the growth in the EMEA region, which is expected to become a strong growth driver [11] - New product launches are planned, including innovative products that have no similar offerings in the market [13] - The company aims to expand its software offerings and create new subscription packages to enhance its ecosystem [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the overall demand for products in North America despite temporary shipment limitations [5] - The company is focusing on building dedicated products for non-US markets to enhance competitiveness [40] - Management emphasized the importance of creating value for customers and the long-term goal of becoming a connectivity company rather than just a networking company [117] Other Important Information - Recurring revenue increased by 12.5% year on year, accounting for 28.1% of total sales [6] - The number of devices with subscriptions increased by almost 18% year on year, with a take-up rate of 36.5% [6] - The company maintains a healthy balance sheet with a net cash balance of $53 million as of June 2025 [10] Q&A Session Summary Question: Can you elaborate on the situation regarding the US markets and shipments? - Management clarified that shipments were temporarily halted due to uncertainties about tariffs but have since fully resumed [20][22] Question: How significant is the new partnership with Iridium compared to Starlink? - Management indicated that while Iridium is trusted by traditional customers, Starlink has stronger momentum, and the revenue from Iridium is expected to be smaller [24][26] Question: What changes have occurred in the product structure, especially with Starlink? - The company now offers a full range of Starlink products and plans to launch a new integrated product called AntennaMax [32][34] Question: What is driving the strong growth in the EMEA region? - The transportation market in Europe is undergoing extensive upgrades, creating demand for connectivity solutions [39][40] Question: What steps have been taken to increase the subscription take-up rate? - Increased awareness among partners and addressing bottlenecks in the purchasing management portal are key strategies [43][44] Question: How does the company view the future of edge computing? - Management sees edge computing as a trend that will expand the ecosystem and enhance product stickiness, but revenue implications are still being explored [101][104] Question: What is the monetization strategy for the SpeedFusion Connect app? - The current focus is on user adoption rather than immediate monetization, with plans to explore charging in the future [115] Question: How does the company plan to position itself in the next 5 to 10 years? - The long-term goal is to become a connectivity company, expanding beyond just networking products [117]

Financial Performance - Revenue increased by 9.9% year-over-year, from $57298 thousand in 2024 to $62943 thousand in 2025[52] - Net profit increased by 13.4% year-over-year, from $19103 thousand in 2024 to $21665 thousand in 2025[52] - Software Licenses revenue saw a significant increase of 33.8% year-over-year, driven by strong growth of software subscriptions[53] - Recurring revenue increased by 12.5% year-over-year, from $15732 thousand in 2024 to $17698 thousand in 2025, accounting for 28.1% of total sales[58, 62] Business Growth and Partnerships - The number of Authorized Peplink & Starlink Solution Providers (ASPs) increased by 33%[22, 23] - The company is collaborating with Starlink, providing access to Starlink's product suite and user base[16] - The company entered into an agreement with Iridium to cross-promote solutions, opening opportunities for technical collaboration and cross-selling[21] Market Trends and Product Development - The company is focusing on edge computing, evolving routers into "intelligent edge nodes" for data processing[32, 33] - The company is developing new FWA-centric products and subscriptions to capitalize on the growing Fixed Wireless Access market[37, 38] Ecosystem and Verticals - The number of devices under subscription increased by 17.7% year-over-year[50] - The subscription take-up rate increased to 36.5% as of June 30, 2025, compared to 34.1% in December 2024[50, 62] - Top verticals by number of deals won include Enterprise (25%), Public Services (18%), and Maritime (10%)[45]

Group 1 - The core viewpoint of the article is that Hangwan Technology (01523.HK) reported a revenue of approximately 62.943 million USD for the six months ending June 30, 2025, representing an increase of about 9.9% compared to the same period last year [1] - The profit attributable to the owners of the parent company for the interim period was approximately 21.665 million USD, which is a year-on-year increase of about 13.4% [1] - The basic earnings per share for the company were approximately 1.96 cents, and it proposed an interim dividend of 12.34 Hong Kong cents per share [1]

[Performance Highlights](index=1&type=section&id=%E6%A5%AD%E7%B8%BE%E6%A6%82%E8%A6%81) The company achieved robust financial growth in the first half of 2025, marked by increased revenue and net profit, alongside a declared interim dividend [Financial Summary](index=1&type=section&id=%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) The company reported robust performance for the six months ended June 30, 2025, with total revenue increasing 9.9% to $62.94 million and net profit rising 13.4% to $21.67 million, alongside an interim dividend declaration Key Financial Indicators for H1 2025 | Indicator | H1 2025 (Million USD) | YoY Growth | | :--- | :--- | :--- | | Revenue | 62.943 | +9.9% | | Net Profit | 21.665 | +13.4% | | Basic Earnings Per Share | 0.0196 | +12.6% | - The Board decided to declare an interim dividend of **HK$0.1234 per share** for the six months ended June 30, 2025[3](index=3&type=chunk) [Consolidated Financial Statements](index=2&type=section&id=%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) The consolidated financial statements provide a comprehensive overview of the company's financial position, performance, and cash flows for the period [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) For the six months ended June 30, 2025, the company's revenue grew to $62.94 million, gross profit reached $34.96 million with a stable gross margin of 55.5%, and profit attributable to owners of the parent increased 13.4% to $21.67 million Summary of Profit or Loss Statement (For the six months ended June 30, Thousand USD) | Item | 2025 | 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 62,943 | 57,298 | +9.9% | | Gross Profit | 34,963 | 31,745 | +10.1% | | Profit Before Tax | 26,577 | 22,710 | +17.0% | | Profit for the Period Attributable to Owners of the Parent | 21,665 | 19,103 | +13.4% | | Basic Earnings Per Share (US cents) | 1.96 | 1.74 | +12.6% | [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2025, the company's total assets stood at $107 million and net assets at $51.56 million, with a decrease in cash and cash equivalents, a significant increase in trade receivables, and a reduction in inventory levels compared to year-end 2024 Key Items from Statement of Financial Position (Thousand USD) | Item | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Net Assets | 51,557 | 56,299 | -8.4% | | Cash and Cash Equivalents | 55,666 | 65,933 | -15.6% | | Trade Receivables | 25,869 | 15,497 | +66.9% | | Inventories | 13,619 | 16,160 | -15.7% | | Interest-bearing Bank Borrowings | 3,085 | 8,516 | -63.8% | [Condensed Consolidated Statement of Cash Flows](index=6&type=section&id=%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E7%8F%BE%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) During the period, net cash inflow from operating activities was $22.27 million, but net cash outflow from financing activities, primarily due to $26.90 million in dividend payments, resulted in a net decrease of $10.27 million in cash and cash equivalents Summary of Cash Flow Statement (For the six months ended June 30, Thousand USD) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 22,270 | 31,843 | | Net Cash Flow from Investing Activities | 486 | 138 | | Net Cash Flow Used in Financing Activities | (33,030) | (15,370) | | Net (Decrease)/Increase in Cash and Cash Equivalents | (10,274) | 16,611 | - The primary reason for the cash outflow from financing activities was the payment of **$26.90 million in dividends**, significantly higher than the **$17.40 million** in the same period last year[8](index=8&type=chunk) [Management Discussion and Analysis](index=19&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) Management discusses the company's operating performance, business developments, and financial resources, outlining strategic initiatives and future outlook [Operating Results](index=19&type=section&id=%E7%B6%93%E7%87%9F%E6%A5%AD%E7%B8%BE) The company's overall operating performance was robust, with total revenue growing 9.9%, primarily driven by mobile network priority connectivity products and software license sales, while gross margin remained stable at 55.5% and total operating expenses increased modestly by 4.2% due to higher R&D investment [Revenue Analysis](index=19&type=section&id=%E6%94%B6%E5%85%A5%E5%88%86%E6%9E%90) Total revenue increased to $62.94 million, with mobile network priority connectivity product sales growing 14.4% and software license sales increasing 33.8%, while EMEA and Asia regions showed strong growth of 39.2% and 44.3% respectively, and North America experienced a slight decline due to high base effect Revenue by Product/Service Category (Thousand USD) | Product/Service Category | H1 2025 | H1 2024 | YoY Growth | | :--- | :--- | :--- | :--- | | Mobile Network Priority Connectivity | 36,831 | 32,194 | +14.4% | | Software Licenses | 5,055 | 3,777 | +33.8% | | Warranty and Support Services | 13,441 | 12,575 | +6.9% | | Fixed Network Priority Connectivity | 7,616 | 8,752 | -13.0% | Revenue by Region (Thousand USD) | Region | H1 2025 | H1 2024 | YoY Growth | | :--- | :--- | :--- | :--- | | Europe, Middle East and Africa (EMEA) | 20,497 | 14,725 | +39.2% | | Asia | 5,862 | 4,061 | +44.3% | | North America | 34,394 | 36,761 | -6.4% | [Recurring Sales](index=20&type=section&id=%E7%B6%93%E5%B8%B8%E6%80%A7%E9%8A%B7%E5%94%AE) Recurring sales increased 12.5% year-over-year to $17.70 million, raising their proportion of total revenue from 27.5% to 28.1%, with healthy growth in the number of subscribed devices and usage rates indicating a strong future recurring revenue pipeline Revenue by Nature (Thousand USD) | Revenue Type | H1 2025 | % of Total | H1 2024 | % of Total | YoY Growth | | :--- | :--- | :--- | :--- | :--- | :--- | | One-off Sales | 45,245 | 71.9% | 41,566 | 72.5% | +8.9% | | Recurring Sales | 17,698 | 28.1% | 15,732 | 27.5% | +12.5% | [Gross Profit and Expenses](index=22&type=section&id=%E6%AF%9B%E5%88%A9%E5%8F%8A%E9%96%8B%E6%94%AF) Overall gross margin remained stable at 55.5%, with warranty and support services and software licensing businesses maintaining high gross margins exceeding 90%, while total operating expenses increased 4.2% to $10.15 million, primarily due to a 9.9% rise in R&D expenses driven by increased salaries - Gross margin was approximately **55.5%**, consistent with the prior year period, with warranty and support services and software licenses achieving high gross margins of **94.5%** and **90.6%** respectively[49](index=49&type=chunk)[50](index=50&type=chunk) - Total operating expenses increased by **4.2%** year-over-year to **$10.15 million**, primarily due to a **9.9%** increase in research and development, consulting, and other expenses driven by higher salaries[56](index=56&type=chunk)[58](index=58&type=chunk) [Business Review and Outlook](index=25&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7%E5%8F%8A%E5%89%8D%E6%99%AF) Management expresses confidence in future growth, deepening collaboration with Starlink and establishing a new partnership with Iridium to expand the low-earth orbit satellite communication market, launching the SpeedFusion Connect mobile application, and planning to accelerate subscription business growth by optimizing partner experience and developing targeted regional strategies for price-sensitive EMEA and APAC markets - Expansion of collaboration with low-earth orbit satellite providers: The scope of cooperation with Starlink has been extended to all Starlink devices, and a new marketing partnership has been established with Iridium[66](index=66&type=chunk) - Launch of SpeedFusion Connect application: A new application has been launched on iOS and Android platforms, aiming to combine mobile data and WiFi for more stable network experience on mobile devices and to explore new markets[67](index=67&type=chunk) - Acceleration of subscription business growth: The subscription rate increased from **34.1% to 36.5%** during the period, and the company plans to further boost it by adding new features and removing partner obstacles[68](index=68&type=chunk) - Development of regional strategies: Plans are underway to develop specialized products and strategies for the EMEA and Asia-Pacific regions to address the price-sensitive nature of these markets[64](index=64&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=27&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E3%80%81%E8%B2%A1%E6%94%BF%E8%B3%87%E6%BA%90%E5%8F%8A%E8%B3%87%E6%9C%AC%E6%9E%B6%E6%A7%8B) The company maintains a healthy financial position, with the gearing ratio significantly decreasing from 15.1% at the end of 2024 to 6.0%, and the group primarily funds its operations through cash generated from its own business activities without facing liquidity issues - As of June 30, 2025, the gearing ratio (total borrowings/total equity) was approximately **6.0%**, a significant decrease from **15.1%** at the end of 2024[70](index=70&type=chunk) [Other Disclosures](index=28&type=section&id=%E5%85%B6%E4%BB%96%E6%8A%AB%E9%9C%B2%E4%BA%8B%E9%A0%85) This section details additional corporate information including dividend declarations, share option schemes, and corporate governance practices [Dividends](index=28&type=section&id=%E8%82%A1%E6%81%AF) The Board declared an interim dividend of HK$0.1234 per share for the six months ended June 30, 2025, payable on August 26, 2025, to shareholders on record as of August 15, 2025 - An interim dividend of **HK$0.1234 per share** was declared, higher than **HK$0.1083 per share** for the same period in 2024[27](index=27&type=chunk)[78](index=78&type=chunk) [Share Option Scheme](index=30&type=section&id=%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) As of June 30, 2025, a total of 12,274,000 unexercised share options remained, with 647,000 options exercised and 400,000 forfeited due to resignation during the period, and no new options granted - As of June 30, 2025, **12,274,000 share options** remained unexercised under the share option scheme[84](index=84&type=chunk) - Equity-settled share-based payment expenses for the period amounted to approximately **$153,000**[39](index=39&type=chunk)[57](index=57&type=chunk) [Corporate Governance](index=32&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB) The company has adopted and complied with all applicable provisions of the Corporate Governance Code, and the Audit Committee has reviewed these interim results - During the reporting period, the company complied with all applicable code provisions set out in the Corporate Governance Code[91](index=91&type=chunk) - The Audit Committee has reviewed the Group's interim results and discussed audit, internal control, and financial reporting matters with management[93](index=93&type=chunk)

Financial Performance - Sales increased by 24% year-on-year, reaching approximately USD 117 million, marking the first time the company exceeded the USD 100 million revenue mark[12]. - Recurring revenue grew by 12% year-on-year to USD 32 million, maintaining a stable percentage of total sales at 28%[18]. - Revenue for 2024 reached US$116,791,000, up from US$94,259,000 in 2023, representing a 24% increase[44]. - Profit for the year attributable to owners of the parent was US$38,046,000, compared to US$28,099,000 in 2023, a 35% increase[44]. - Core net profit for 2024 was US$38,324,000, up from US$28,352,000 in 2023, reflecting a 35% increase[44]. - Basic earnings per share increased to 3.46 US cents in 2024 from 2.56 US cents in 2023, a 35% rise[44]. - Subscription revenue collected in 2024 increased by 36% YoY[24]. - Subscription take-up rate grew from 30.5% to 34.1% YoY[24]. - Gross profit for the year was approximately US$64,149,000, a year-over-year increase of approximately 26.0%[72]. - Gross profit margin improved to approximately 54.9%, compared to approximately 54.0% for the previous year[72]. Sales and Market Expansion - The collaboration with Starlink attracted over 50 channel partners, enhancing the Peplink-Starlink channel program and leading to significant deployments in various sectors[20]. - The company launched the B One series router, which integrates Starlink LEO, 5G, and wired broadband, providing enterprise-grade performance at an accessible price[21]. - The growth in sales was attributed to strong performance across multiple product lines and the positive impact of the Peplink Starlink program[53]. - Sales in North America increased to approximately US$74,760,000, representing year-on-year growth of approximately 37.5%[66]. - Sales to EMEA rose to approximately US$29,064,000, representing a year-on-year growth of approximately 5.5%[66]. - Sales to Asia decreased about 12.2% year-on-year to approximately US$8,756,000[66]. Operational Efficiency and Cost Management - Selling and distribution expenses increased about 22.7% year-on-year to approximately US$4,348,000, mainly due to higher advertising and promotion spending[79]. - General and administrative expenses were approximately US$7,746,000, a year-on-year increase of approximately 10.3%[84]. - Research and development expenses slightly increased by 1.0% to approximately US$8,495,000[86]. - Total operating expenses for the year ended December 31, 2024, amounted to approximately US$20,589,000, representing a year-over-year increase of approximately 8.5%[95]. - Employee costs for the year were approximately US$10,514,000, up from approximately US$9,861,000 in 2023[95]. Strategic Initiatives and Partnerships - The company plans to expand collaboration with Starlink by adding their small-business product to the channel program in 2025[25]. - The "Better Together" program with T-Mobile has been expanded to include Starlink products, promoting bundled services[26]. - The company continues to evolve its product range, including both wired and wireless functions, and has expanded into connectivity products beyond typical SD-WAN routers[50]. - The company aims to enhance "on-demand" connectivity for temporary uses, improving reliability for applications like livestreaming[30]. Corporate Governance and Management - The Company adopted the Corporate Governance Code and has complied with all applicable provisions as of December 31, 2024[148]. - The Board consists of eight members, including four executive Directors and three independent non-executive Directors, ensuring a balanced composition[160]. - The independent non-executive Directors provide a wide range of skills and independent judgment on strategy, performance, and risk[167]. - The Company has received written confirmations of independence from all independent non-executive Directors, ensuring their independent status[164]. - The Board delegates day-to-day operations and business strategies to executive Directors and senior management while maintaining oversight[165]. - The cultural framework of the Company influences strategic planning and helps identify opportunities and challenges[158]. - The Company is committed to maintaining high standards of corporate governance to enhance shareholder value[153]. Employee and Workforce Development - The Group had 180 full-time employees as of December 31, 2024, an increase from 177 in 2023[117]. - The Group's total employee costs for the year ended December 31, 2024, were approximately US$10,514,000, an increase from approximately US$9,861,000 in 2023, reflecting a growth of about 6.6%[123]. - The number of attempts for Peplink Certified Engineers/Associates/Sales Specialists certifications continued to grow at a decent pace in 2024[27]. - The Company focuses on creating a work environment that allows employees to thrive and meet their full potential[155]. Risk Management and Audit - The Audit Committee conducted two meetings to review the annual results for the year ended December 31, 2023, and the interim results for the six months ended June 30, 2024[189]. - The Audit Committee oversees risk management and internal control procedures of the Company[185]. - The roles of Chairman and Chief Executive Officer are separate to ensure a balance of power and authority[177].