Financial Performance - The company reported revenue of approximately $57,298,000 for the six months ended June 30, 2024, representing an increase of about 28.4% compared to the same period last year[103]. - The total comprehensive income attributable to the owners of the parent for the period was $19,137,000, compared to $12,395,000 in the previous year[111]. - The company reported a net profit of approximately $19,103,000 for the six months ended June 30, 2024, representing a year-on-year increase of about 55.0%[135]. - Basic earnings per share for the six months ended June 30, 2024, were approximately 1.74 cents, an increase of about 55.4% year-over-year[110]. - The diluted earnings per share for the same period was 1.73 cents, compared to 1.12 cents in the previous year[136]. - The gross profit for the six months ended June 30, 2024, was $31,745,000, up from $23,799,000 in the previous year[112]. - The pre-tax profit for the six months ended June 30, 2024, was $22,710,000, compared to $14,887,000 for the same period in 2023[112]. - The company achieved a pre-tax profit of $22,710,000 for the six months ended June 30, 2024, compared to $14,887,000 for the same period in 2023[121]. - The company’s total liabilities decreased from $17,399,000 to $15,370,000 for the financing activities during the period[108]. - The company’s total liabilities increased to $43,018,000 as of June 30, 2024, from $35,051,000 as of December 31, 2023[137]. Revenue Breakdown - Revenue from recurring sales increased by 12.8% year-on-year, with the number of subscription devices growing by 34.9% compared to the same period last year[39]. - Non-recurring sales increased by 35.5% year-on-year, driven by strong demand across multiple regions and verticals[66]. - Total revenue for 2024 reached $57,298,000, a 28.4% increase from $44,632,000 in 2023[197]. - One-time sales accounted for 72.5% of total revenue in 2024, increasing by approximately 35.5% year-over-year[196][197]. - Recurring sales represented 27.5% of total revenue in 2024, showing a year-over-year increase of about 12.8%[196][197]. - Revenue from external customers reached $57,298,000 for the six months ended June 30, 2024, up from $44,632,000 in the same period last year, marking an increase of approximately 28.5%[145]. - Revenue from mobile network priority connections surged to $32,194 thousand in 2024, a significant rise from $21,713 thousand in 2023, marking an increase of 48.3%[123]. - The sales of SD-WAN routers for fixed network priority connections amounted to $8,752 thousand in 2024, compared to $8,151 thousand in 2023, reflecting an increase of 7.4%[123]. - Warranty and support services revenue grew approximately 6.8% to about $12,575,000[162]. Expenses and Costs - Sales and distribution expenses grew by approximately 22.0% to about USD 1,853,000, primarily due to increased advertising and promotional expenses[30]. - R&D, consulting, and other expenses slightly decreased by 3.1% to approximately USD 4,204,000, attributed to reduced internal hardware R&D material and mold requirements[32]. - The company reported a cost of goods sold of $24,450,000 for the six months ended June 30, 2024, compared to $19,664,000 in the same period last year, representing an increase of approximately 24.5%[148]. - The interest expense on bank loans decreased to $77 thousand in 2024 from $211 thousand in 2023, a reduction of 63.5%[125]. Cash Flow and Equity - The net cash flow from operating activities for the six months ended June 30, 2024, was $31,843,000, compared to $15,797,000 for the same period in 2023[108]. - The company experienced a net increase in cash and cash equivalents of $16,611,000 for the six months ended June 30, 2024, compared to $2,040,000 in the same period last year[108]. - The company’s cash and cash equivalents at the end of the period were $53,538,000, up from $30,788,000 at the end of the previous year[108]. - The company declared a second interim dividend of $15,400 thousand for 2023, reflecting its commitment to returning value to shareholders[121]. - The company declared an interim dividend of 10.83 HK cents per share for the six months ended June 30, 2024, up from 7.01 HK cents in the previous year[150]. - The total equity attributable to equity holders of the parent increased to USD 50,641,000 as of June 30, 2024, compared to USD 48,806,000 as of December 31, 2023, representing a growth of approximately 3.4%[3]. - The total equity as of June 30, 2024, was $52,059 thousand, up from $43,957 thousand as of June 30, 2023, representing a growth of 18.5%[114]. Strategic Initiatives - The company plans to launch a user-friendly product with full SpeedFusion capabilities at an affordable price, directly selling to end customers through deep market partnerships[38]. - The company is developing new products and next-generation platforms to continue leading technological advancements and ecosystem development in the coming years[40]. - The company plans to continue its focus on the design, development, and marketing of SD-WAN routers, indicating a strategic emphasis on expanding its product offerings[115]. - The collaboration with Starlink has significantly enhanced user experience and improved Peplink's market position, providing unparalleled connectivity in remote environments[63]. - The company signed contracts with no fewer than 50 distributors to join the Peplink and Starlink Solution Provider program during the reporting period[177]. Governance and Compliance - The company has adopted a corporate governance code and has complied with all applicable provisions during the reporting period[86]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries or associates during the period ending June 30, 2024[72]. - The company has no major investments or investment plans as of June 30, 2024[71]. - The company does not have a foreign exchange hedging policy but closely monitors foreign exchange risks[69]. - The company has not disclosed any interests or short positions held by directors or senior management in competing businesses[82]. Shareholder Information - The stock options plan was adopted on June 21, 2016, to recognize employee contributions to the group's growth[70]. - The company issued 366,000 shares through stock options at an average exercise price of HKD 1.145, resulting in a total cash consideration of approximately $53,000[185]. - As of June 30, 2024, the total number of stock options was 10,500,000, down from 11,879,000 in 2023[189]. - The company repurchased a total of 256,000 shares at a total cost of approximately $88,000 during the reporting period[155].

Business Growth and Market Opportunities - In 2023, Plover Bay Technologies Limited helped a major cruise ship company connect multiple Starlink connections across its fleet, enhancing internet access for thousands of passengers and crew[15]. - The Fixed Wireless Access (FWA) market is projected to see connections more than double to over 300 million by 2030, indicating a significant growth opportunity[15]. - The company was appointed as Starlink's first Authorized Technology Provider, which is expected to increase brand visibility and access to a growing user base[15]. - The strong uptake of 5G products in North America was a key driver for sales, particularly in maritime, government, and public safety sectors[28]. - The company emphasizes the importance of diverse connectivity options for business growth, as no single service provider can offer flawless reliability across all markets[35]. - The emergence of AI is expected to create new opportunities in the expanding connectivity market[40]. - The company aims to enhance software features and launch affordable new products to boost recurring revenue growth[40]. - The company plans to reach the next US$100 million in revenue faster with stronger manufacturing and go-to-market partners[40]. Financial Performance - Total revenue for the year ended December 31, 2023, was US$94.259 million, a significant increase from US$86.757 million in 2022[22]. - Revenue for 2023 was reported at US$94.3 million, an increase from US$86.8 million in 2022[42]. - Profit for the year attributable to owners of the parent was US$28.1 million, up from US$22.7 million in 2022[42]. - Core net profit for 2023 was US$28.4 million, compared to US$22.9 million in the previous year[42]. - Basic earnings per share increased to 2.56 US cents from 2.07 US cents in 2022[42]. - In 2023, recurring revenue reached 30% of total sales and 52% of gross profit[40]. - Warranty and support services generated US$23.765 million, representing 25.2% of total revenue[22]. - Software licenses contributed US$6.512 million, which is 6.9% of total revenue, up from US$4.447 million in 2022[22]. - The gross profit margin for the year was approximately 54.0%, compared to approximately 53.6% for the year ended December 31, 2022[85]. - For the year ended December 31, 2023, the company's gross profit was approximately US$50,913,000, representing a year-over-year increase of approximately 9.5%[83]. Sales and Revenue Breakdown - Revenue from Mobile First Connectivity (formerly Wireless SD-WAN routers) was US$49.393 million, accounting for 52.4% of total revenue in 2023[22]. - North America sales increased to approximately $54.39 million, a year-over-year growth of about 4.6%[27]. - EMEA sales rose to approximately $27.54 million, reflecting a year-over-year increase of approximately 26.7%[27]. - Sales in Asia decreased by approximately 10.3% to about $9.98 million[27]. - Other regions experienced a year-over-year sales growth of approximately 25.4%, reaching about $2.36 million[27]. - Sales of Fixed First Connectivity and Mobile First Connectivity are considered one-time sales, indicating a focus on recurring revenue streams[24]. Operational Efficiency and Cost Management - Total operating expenses for the year amounted to approximately US$18,976,000, representing a year-over-year decrease of approximately 5.4%[62]. - General and administrative expenses for the year ended December 31, 2023, were approximately US$7,021,000, a decrease of approximately 14.1% year-on-year[87]. - Research and development expenses for the year ended December 31, 2023, were approximately US$8,411,000, a decrease of about 4.3% year-on-year[88]. - Component costs and production lead times have returned to reasonable levels, leading to improved margins in Fixed First and Mobile First Connectivity segments[57]. Corporate Governance and Management - The Board is committed to maintaining high standards of corporate governance and will continue to review practices to comply with the Corporate Governance Code[102]. - The Chairman and CEO roles are separate to ensure a balance of power and authority within the Group[115]. - The Board comprises seven members, including four executive Directors and three independent non-executive Directors[131]. - The Company emphasizes the importance of good corporate governance practices and procedures[151]. - The Board is responsible for maximizing long-term shareholder value while balancing broader stakeholder interests[135]. Employee and Workforce Management - As of December 31, 2023, the Group had 177 full-time employees, a decrease from 202 in 2022[97]. - Total employee costs for the year were approximately US$9,861,000, slightly down from US$9,957,000 in 2022[97]. - The Company issued share options on December 11, 2023, as part of its employee recognition program[97]. Risk Management and Compliance - The Audit Committee oversees risk management and internal control procedures of the company[158]. - The Group does not currently have a foreign exchange hedging policy but monitors foreign exchange risks closely[98]. - The Group applies a simplified approach for calculating expected credit losses (ECLs) based on lifetime ECLs at each reporting date[180]. Revenue Recognition and Accounting Policies - Revenue from contracts with customers is recognized when control of goods or services is transferred, reflecting the expected consideration[192]. - Revenue from the sale of routers and software licenses is recognized upon delivery of the assets[192]. - Revenue from the provision of license services and warranty support is recognized over the scheduled period on a straight-line basis[192].

Financial Performance - The company reported a profit attributable to equity holders for the year ended December 31, 2023, was approximately $28,099,000, representing an increase of about 24.0% compared to the previous year[91]. - The revenue for the year ended December 31, 2023, was approximately $94,259,000, an increase of about 8.6% compared to $86,757,000 for the year ended December 31, 2022[114]. - The gross profit for the year ended December 31, 2023, was $50,913,000, compared to $46,507,000 for the previous year, indicating a growth in profitability[118]. - The company reported a pre-tax profit of $32,950,000 for the year ended December 31, 2023, compared to $26,381,000 in the previous year[118]. - The total comprehensive income was $28,226,000, an increase from $22,518,000 in 2022, representing a growth of approximately 25%[122]. - The company reported a profit of $28,099,000 for the year, compared to $22,659,000 in the previous year, indicating a year-over-year increase of about 24%[122]. - The diluted earnings per share for the year ended December 31, 2023, was approximately $2.55, representing an increase of about 23.8% from $2.06 for the year ended December 31, 2022[115]. - The net cash generated from operating activities for the year was $37,722,000, significantly higher than $17,572,000 in the previous year[106]. Revenue Breakdown - Recurring revenue reached a significant milestone, accounting for 30% of total sales and 52% of gross profit for the year[17]. - Software licensing and support service revenue reached $30,277,000 in 2023, up from $25,554,000 in 2022, representing an increase of approximately 18.5%[142]. - Revenue from customer contracts increased to $94,259,000 in 2023, up from $86,757,000 in 2022, representing a growth of approximately 8.6%[141]. - North America generated $54,386,000 in revenue in 2023, compared to $52,017,000 in 2022, reflecting an increase of about 4.6%[140]. - EMEA revenue rose significantly to $27,536,000 in 2023 from $21,736,000 in 2022, marking an increase of approximately 26.7%[140]. - Sales from Mobile Network Priority Connection (formerly known as Wireless SD-WAN) rose to approximately $49,393,000, reflecting a year-on-year increase of about 5.6%[187]. - Warranty and support services revenue increased by approximately 12.6% to $23,765,000[187]. - Sales from Fixed Network Priority Connection (formerly known as Wired SD-WAN) slightly increased to approximately $14,589,000, a year-on-year increase of about 1.1%[187]. Expenses and Costs - The company reported a financial cost of approximately USD 349,000 for the year ended December 31, 2023, representing a year-on-year increase of approximately 43.0% due to higher interest rates[5]. - Total operating expenses for the year ended December 31, 2023, were approximately $18,976,000, a decrease of about 5.4% year-on-year[87]. - Research and development expenses for the year ended December 31, 2023, were approximately $8,411,000, a decrease of about 4.3% due to increased outsourcing of hardware development[96]. - The total tax expense for the year was $4,851 thousand in 2023, compared to $3,722 thousand in 2022, indicating a rise of 30.4%[172]. - The depreciation expense for 2023 was $2,156,000, an increase from $2,009,000 in 2022, reflecting a rise of approximately 7.3%[146]. Dividends and Shareholder Returns - The board declared a second interim dividend of HKD 0.1094 per share and a special dividend of HKD 0.0142 per share for the year ended December 31, 2023[27]. - The company plans to declare a second interim dividend of HKD 0.1094 per share and a special dividend of HKD 0.0142 per share, expected to be paid on March 28, 2024[99]. - The company paid dividends totaling $22,049,000 in 2023, compared to $20,771,000 in 2022, which is an increase of about 6%[125]. - The interim dividend per ordinary share was increased to 7.01 HK cents in 2023 from 5.90 HK cents in 2022, representing an increase of 19%[173]. Assets and Liabilities - The total assets less current liabilities amounted to $58,033,000, an increase from $48,057,000 in the previous year[106]. - The total equity for the company as of December 31, 2023, was $50,224,000, up from $43,291,000 in 2022[102]. - The total current assets increased slightly to $78,169,000 from $77,796,000 in the previous year[106]. - The total non-current liabilities rose to $7,809,000 from $4,766,000 in the previous year, indicating increased long-term obligations[106]. - The company experienced a decrease in inventory from $32,333,000 to $16,938,000, reflecting improved inventory management[106]. - Cash and cash equivalents at the end of 2023 amounted to $36,745,000, up from $28,658,000 at the end of 2022, reflecting a net increase of approximately 28%[125]. - The company’s retained earnings increased to $24,145,000 in 2023, up from $17,949,000 in 2022, indicating a growth of approximately 34%[122]. Strategic Initiatives and Market Position - The company launched the "Peplink App," an extension of its InControl2 management software, aimed at simplifying user experience and attracting customers in the FWA sector[16]. - The company plans to enhance its software capabilities and focus on launching affordable new products to drive growth in recurring revenue channels[18]. - The company has established a complete product ecosystem around SpeedFusion, continuously improving its routers based on user feedback[24]. - The company plans to enter the Fixed Wireless Access (FWA) market with the launch of the B One series routers, which feature comprehensive SpeedFusion capabilities[45]. - The FWA market is projected to double by 2030, reaching over 300 million connections, indicating significant growth potential despite intense competition[75]. - The company has become the first recognized technology supplier for Starlink, enhancing its visibility and access to a rapidly growing user base[73]. - The company is leveraging advancements in artificial intelligence to create new product platforms, anticipating significant opportunities in the expanding connectivity market[48]. - The proprietary technology "SpeedFusion" combines various connection technologies to create superior connectivity, which has been a key factor in the company's competitive advantage[80]. Government Support and Compliance - The company received approximately $96,000 from the Hong Kong government for brand development and market expansion, and about $419,000 from the Lithuanian government for various R&D projects[84]. - The company has adopted the standards set out in Appendix 10 of the Listing Rules as its securities trading code, ensuring compliance by directors[39]. - The defined contribution plan expenses for the Taiwan subsidiary amounted to approximately $54,000 for the year ending December 31, 2023, compared to $48,000 in 2022[52]. - The company has no forfeited contributions available to reduce future contributions to the retirement benefit plan as of December 31, 2023[171].

Financial Performance - Revenue from customer contracts for the six months ended June 30, 2023, was $44,632 thousand, an increase of 11.8% compared to $40,114 thousand for the same period in 2022[15]. - The company reported a profit of $12,323 thousand for the six months ended June 30, 2023, compared to a profit of $10,308 thousand for the same period in 2022, marking a year-over-year increase of 19.5%[1]. - Revenue for the six months ended June 30, 2023, was approximately $44,632,000, an increase of about 11.3% compared to the same period last year[39]. - The company reported a pre-tax profit of $14,887,000 for the six months ended June 30, 2023, compared to $12,283,000 for the same period in 2022[37]. - Total revenue for the six months was $44,632,000, compared to $40,114,000 in the same period last year, reflecting a growth of approximately 11.8%[69]. - The company recorded a net profit of approximately $12,323,000 for the six months ended June 30, 2023, representing a year-on-year increase of about 19.5%[50]. - Basic earnings per share for the period were approximately 1.12 cents, an increase of about 19.1% compared to the previous year[60]. - Overall revenue increased by 11% year-over-year in the first half of 2023, with a gross margin of 53%[75]. Revenue Breakdown - The company’s SD-WAN sales for the six months ended June 30, 2023, reached $8,151 thousand, an increase from $6,562 thousand in the same period of 2022[22]. - The company’s software licensing and support services revenue for the six months ended June 30, 2023, was $11,774 thousand, compared to $9,916 thousand for the same period in 2022, indicating a growth of 18.6%[22]. - Recurring revenue for the period reached $13.9 million, a 28% increase compared to the same period last year[76]. - The wired SD-WAN product grew by 24% year-over-year, driven by the adoption of 5G fixed wireless access and Starlink services[75]. - Sales of fixed network priority connections (formerly known as wired SD-WAN) grew to approximately $8,151,000, a year-on-year increase of about 24.2%[108]. - Warranty and support services increased by approximately 18.7% to about $11,774,000, while software license sales grew by approximately 53.6% to about $2,994,000[108]. Expenses and Liabilities - Non-current liabilities as of June 30, 2023, totaled $5,432 thousand, up from $4,766 thousand as of December 31, 2022, representing an increase of 13.9%[9]. - Total tax expense for the period was $2,564,000, compared to $1,975,000 for the same period last year, representing an increase of approximately 30%[28]. - The cost of goods sold for the period was $19,664,000, up from $16,864,000 in the previous year, reflecting an increase of approximately 10.6%[5]. - The company’s financial costs increased significantly, with bank loan interest rising to $211,000 from $45,000 in the previous year[5]. - Total operating expenses for the six months ended June 30, 2023, were approximately $9,312,000, a decrease of about 7.5% year-on-year[129]. Cash Flow and Assets - The company generated cash flow from investing activities of $(371) thousand for the six months ended June 30, 2023, compared to $(587) thousand for the same period in 2022[2]. - Cash flows from operating activities increased significantly to $15,797,000 from $4,971,000, showing improved operational efficiency[56]. - The company’s cash and cash equivalents increased to $18,082 thousand as of June 30, 2023, from $17,949 thousand as of January 1, 2023[1]. - The company’s cash and cash equivalents at the end of the period were $30,788,000, up from $28,658,000 at the end of the previous period[65]. - The total non-current assets decreased to $4,660,000 from $5,494,000, a decline of approximately 15.1%[42]. Shareholder Information - The company declared an interim dividend of 7.01 HKD cents per share for the six months ended June 30, 2023, compared to 5.9 HKD cents for the same period in 2022[29]. - The board declared an interim dividend of HKD 0.0701 per share for the period ended June 30, 2023, with payment expected on August 22, 2023[155]. - The group’s major shareholders include Namlong Development Limited, which holds 756,000,000 shares, representing 68.8% of the total[147]. Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[4]. - The company plans to continue focusing on developing its ecosystem to pave the way for future recurring revenue[122]. - The company has rebranded its product categories, renaming wired SD-WAN routers to "Fixed Network Priority Connection" and wireless SD-WAN routers to "Mobile Network Priority Connection" to better reflect their usage[97]. - The company continues to expand its product offerings, including non-router connectivity products such as mobile antennas and network switches[106]. Research and Development - The R&D team has expanded to include locations in Toronto and Ho Chi Minh City, enhancing talent acquisition[76]. - The company received government subsidies totaling approximately $171,000 related to R&D projects in Lithuania during the reporting period[25]. - Research and development expenses slightly increased to approximately $4,339,000 for the six months ended June 30, 2023[135]. Operational Highlights - The company successfully integrated multiple Starlink and 5G networks for a major cruise fleet, enhancing its service offerings and attracting interest from other cruise companies[72]. - A major deployment project in Germany involves updating communication equipment for over 3,000 city buses, utilizing FusionSIM for remote management[84]. - The company expressed gratitude to shareholders and business partners for their support during the past six months[198].

Revenue and Growth - Total revenue for the six months ended June 30, 2023, was $44,632,000, representing an 11% increase compared to $40,114,000 in the same period of 2022[30]. - One-time sales increased by approximately 4.9% year-over-year to $30,687,000, while recurring sales grew by approximately 28.3% to $13,945,000[13]. - Revenue from customer contracts for the six months ended June 30, 2023, was $44,632 thousand, compared to $40,114 thousand for the same period in 2022, representing an increase of 12.5%[82]. - Revenue from North America for the six months ended June 30, 2023, was $26,667 thousand, up from $23,638 thousand in 2022, indicating a growth of 8.6%[82]. - The company recorded a subscription volume of $8,600,000 in the first half of 2023, representing a year-on-year growth of 24%[56]. - Recurring revenue for the period was $13,900,000, which is a 28% increase compared to the same period last year[56]. - Revenue from SD-WAN sales increased to $29.864 million in the first half of 2023, up from $28.249 million in the same period of 2022, marking a 5.7% increase[84]. - The total segment revenue from external customers for wired routers was $8.151 million in 2023, up from $6.562 million in 2022, reflecting a growth of approximately 24.2%[99]. - The total segment revenue from external customers for wireless routers was $21.713 million in 2023, slightly increasing from $21.687 million in 2022, indicating a growth of approximately 0.1%[99]. - The total segment revenue from warranty and support services was $14.768 million in 2023, compared to $11.865 million in 2022, marking an increase of approximately 24.3%[99]. Profitability and Expenses - The company reported a pre-tax profit of $19.664 million for the six months ended June 30, 2023, compared to $16.864 million in the same period of 2022, indicating a growth of 16.5%[87]. - Total tax expense for the first half of 2023 was $2.564 million, up from $1.975 million in the same period of 2022, representing a 30% increase[91]. - The company recorded a net profit of approximately $12,323,000, representing a year-on-year increase of about 19.5%[126]. - Basic earnings per share for the six months ended June 30, 2023, were approximately 1.12 cents, an increase of about 19.1% year-over-year[106]. - The company's net profit margin improved to 28%, compared to the previous year's level[137]. - Total operating expenses for the six months ended June 30, 2023, were approximately $9.312 million, a decrease of about 7.5% year-on-year[159]. - The company incurred finance costs of $241,000 for the period, compared to $75,000 in the previous year, indicating an increase in financial expenses[129]. Research and Development - Research and development expenses slightly increased to approximately $4,339,000 for the six months ended June 30, 2023[23]. - The company's research and development expenses amounted to $4,339,000, slightly up from $4,330,000 in the previous year[129]. - The company has expanded its R&D team geographically, now including locations in Toronto and Ho Chi Minh City, in addition to existing centers in Hong Kong, Taipei, Kuala Lumpur, and Lithuania[165]. Inventory and Receivables - Inventory balance as of June 30, 2023, was $24,826,000, down from $32,333,000 as of December 31, 2022, indicating effective consumption of previously accumulated key component stocks[27]. - Trade receivables aged analysis showed a total of $12,757,000 as of June 30, 2023, compared to $12,054,000 at the end of 2022, with a notable increase in receivables aged 1 to 2 months[3]. - Trade receivables amounted to $12,780,000 as of June 30, 2023, compared to $12,078,000 as of December 31, 2022, reflecting an increase of 5.8%[45]. Dividends and Share Capital - The interim dividend declared for the six months ended June 30, 2023, is 7.01 HK cents per share, an increase from 5.9 HK cents per share for the interim dividend in 2022[75]. - The authorized share capital remains at 4,000,000,000 shares, with issued and fully paid shares increasing to 1,099,106,000 as of June 30, 2023, from 1,097,523,000 as of December 31, 2022[48]. - The board has declared an interim dividend of 7.01 HK cents per share for the period ended June 30, 2023, expected to be paid on August 22, 2023[196]. Market Expansion and Strategy - The company continues to expand its vertical business in Europe, the Middle East, and Africa, with new partnerships driving growth in the maritime vertical[16]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[84]. - The company plans to change its classification of "wired SD-WAN" and "wireless SD-WAN" to "fixed network priority connection" and "mobile network priority connection" to better understand market dynamics[164]. - The company is focusing on developing its ecosystem to pave the way for future recurring revenue[153]. Financial Position - The total current assets decreased from $77.796 million to $73.314 million, a reduction of approximately 5.7%[doc id='130']. - Non-current liabilities increased from $4.766 million to $5.432 million, an increase of approximately 13.9%[doc id='130']. - The company’s cash and cash equivalents increased to $30.788 million from $28.658 million, a growth of approximately 7.4%[doc id='130']. - The total comprehensive income attributable to owners of the parent for the period was $12.395 million, compared to $10.172 million in the previous year[104]. - The total equity attributable to owners of the parent as of June 30, 2023, was $43.957 million, an increase from $43.291 million as of December 31, 2022[109]. Stock Options and Securities - The total number of stock options granted on April 5, 2017, was 13,600,000, with 25% exercisable one year after the grant date[65]. - The total number of stock options granted on September 14, 2018, was 12,264,000, with 25% exercisable one year after the grant date[66]. - The total number of unexercised stock options as of June 30, 2023, was 11,879,000, compared to 22,546,000 in the previous year[124]. - The stock option plan was conditionally adopted on June 21, 2016, and became effective on the listing date[199]. - For the stock options granted on July 20, 2016, 25% of the total options can be exercised one year after the grant date, with subsequent 25% increments exercisable each year thereafter[200]. Foreign Exchange and Risks - The company faces foreign exchange rate fluctuation risks due to transactions in currencies such as Euro, USD, GBP, and AUD, and currently has no foreign exchange hedging policy[117].

Revenue Growth - One-time sales increased approximately 10.9% year-over-year, while recurring sales grew approximately 37.2% year-over-year[6] - Total revenue for 2022 was approximately US$86,757,000, with one-time sales contributing US$63,004,000 (72.6%) and recurring sales contributing US$23,753,000 (27.4%) [9] - Revenue for 2022 reached $86,757,000, an increase of 16.4% from $74,128,000 in 2021[27] - For the year ended December 31, 2022, the Group's revenue increased to approximately US$86,757,000, representing a year-over-year growth of approximately 17.0%[32] - The company reported a significant increase in revenue, achieving a total of $150 million, representing a 25% year-over-year growth[47] Sales by Region - Sales from North America reached approximately US$52,017,000, representing year-over-year growth of approximately 20.7%[8] - EMEA sales rose to approximately US$21,736,000, reflecting a year-over-year growth of approximately 10.6%[8] - Sales from Asia increased approximately 19.3% to approximately US$11,121,000[8] - Sales from other regions decreased approximately 8.6% year-over-year to approximately US$1,883,000, primarily due to high inflation and unfavorable exchange rates[8] - North America accounted for 60.0% of total revenue, with revenue of US$52,017,000, up from US$43,087,000 in 2021[39] Recurring Revenue - Recurring revenues grew by 37% year-over-year, now accounting for over 27% of total sales[20] - The number of devices with at least one subscription increased by 33% year-over-year, while subscription bookings dollar amount grew by 49% year-over-year[20] - The company expects recurring sales to continue to increase rapidly as the installed base grows and subscription services are enriched[7] - A pilot project for built-in data services has shown promising results, indicating strong potential for recurring revenue growth[20] Profit and Earnings - Profit for the year attributable to owners of the parent was $22,659,000, up 6.9% from $21,200,000 in 2021[27] - Core net profit for 2022 was $22,925,000, reflecting a growth of 2.8% compared to $21,323,000 in 2021[27] - Basic earnings per share for 2022 was 2.07 cents, compared to 1.96 cents in 2021, representing a growth of 5.6%[27] Assets and Liabilities - Total assets as of December 31, 2022, amounted to $83,290,000, a rise of 16.0% from $71,743,000 in 2021[30] - Total current assets increased to $77,796,000, up from $66,943,000 in 2021, marking a growth of 16.0%[30] - Total liabilities for 2022 were $39,999,000, which is a 26.4% increase from $31,660,000 in 2021[30] - Equity attributable to owners of the parent was $43,291,000, an increase of 5.5% from $40,083,000 in 2021[30] Product and Service Development - The company has migrated many products from older platforms to new ones, which support new software features and access to cloud services[12] - The company has successfully migrated to new hardware platforms during semiconductor shortages, enabling advanced software features[20] - The shift in product strategy aims to enhance the growth of subscription services in the coming years[164] - New product launches are expected to contribute an additional $20 million in revenue, with a focus on innovative technology solutions[47] Connectivity Solutions - The company continues to expand its connectivity solutions across various sectors, including partnerships with a fast food chain in Malaysia and a public transport company in Hong Kong[18] - The technology has been adopted by one of the largest cruise ship operators to enhance connectivity across their fleet, indicating a significant market opportunity[18] - The focus on supercharged connectivity aims to improve network reliability and user experience across diverse industries[18] Financial Management - The company is committed to ensuring the accuracy of its financial reporting and compliance with accounting standards[171] - The Group's financial statements preparation involves management making judgments, estimates, and assumptions that impact reported amounts of revenues, expenses, assets, and liabilities[158] - The Group recognizes impairment losses only when the carrying amount of an asset exceeds its recoverable amount, which is determined based on future cash flows discounted to present value using a pre-tax discount rate[94] Research and Development - Research and development expenses increased by 10%, reflecting the company's commitment to innovation and new technology[47] - Research and development expenditures are charged to profit or loss as incurred, while expenditures on new product development are capitalized only if technical feasibility and other criteria are met[100] Employee Benefits - The company has expanded its medical insurance coverage for employees to provide more comprehensive health and wellness protection[160] - The Group provides paid annual leave to employees, allowing unused leave to be carried forward to the following year, with an accrual made for the expected future cost of such leave[153] - The Group operates a defined contribution Mandatory Provident Fund retirement benefit scheme for eligible employees, with contributions based on a percentage of basic salaries[153] Corporate Governance - The company plans to propose the reappointment of Ernst & Young as its auditor at the upcoming annual general meeting[165] - The independent non-executive Directors confirmed compliance with the terms of the Deed of Non-Competition during the year ended 31 December 2022[199] - The Company has taken out appropriate Directors' liability insurance coverage for the Directors[189]

Financial Performance - Revenue for the six months ended June 30, 2022, was approximately $40,114,000, an increase of about 22.5% compared to the same period last year[2] - Net profit for the same period was approximately $10,308,000, representing a year-on-year increase of about 10.9%[2] - Basic earnings per share for the six months ended June 30, 2022, were approximately 0.94 cents, an increase of about 9.3% year-on-year[2] - Gross profit for the six months was approximately $22,345,000, compared to $19,645,000 in the previous year[2] - The pre-tax profit for the six months ended June 30, 2022, was $12,283 thousand, compared to $11,042 thousand in 2021, indicating an increase of 11.3%[19] - Profit attributable to equity holders of the parent for the six months ended June 30, 2022, was approximately $10,308,000, reflecting a year-on-year growth of about 10.9%[54] Revenue Breakdown - Total revenue from customer contracts for the six months ended June 30, 2022, was $40,114 thousand, an increase of 22.4% from $32,751 thousand in 2021[16] - Revenue from SD-WAN routers for the six months ended June 30, 2022, was $6,562 thousand, up from $5,946 thousand in 2021, reflecting an increase of 10.3%[14] - Software licensing and support services revenue for the same period was $11,865 thousand, compared to $8,530 thousand in 2021, representing a growth of 39.3%[14] - North America contributed $23,638 thousand to total revenue in the first half of 2022, up from $18,106 thousand in 2021, marking a growth of 30.0%[15] - The total revenue from Europe, the Middle East, and Africa was $10,634 thousand in the first half of 2022, an increase from $9,366 thousand in 2021, representing a growth of 13.5%[15] - The company’s total revenue from Asia was $4,733 thousand for the six months ended June 30, 2022, compared to $4,556 thousand in 2021, showing an increase of 3.9%[15] Expenses and Costs - Total cost of goods sold for the six months ended June 30, 2022, was $16,864 thousand, compared to $12,068 thousand in 2021, reflecting an increase of 39.5%[19] - Research and development expenses for the six months were approximately $4,330,000, compared to $4,630,000 in the previous year[2] - General and administrative expenses were approximately $4,229,000, an increase of 43.5% year-over-year, primarily due to foreign exchange losses[48] - Sales and distribution expenses increased by approximately 16.5% year-over-year to about $1,507,000, driven by higher advertising and promotional costs[47] - Total operating expenses for the six months ended June 30, 2022, were approximately $10,066,000, representing a year-on-year increase of about 13.5%[51] Cash Flow and Assets - Cash and cash equivalents at the end of the period were $26,898,000, down from $31,641,000 at the end of the previous year[4] - The company reported a net cash inflow from operating activities of $4,971,000 for the six months ended June 30, 2022[8] - Total non-current assets as of June 30, 2022, were $5,081,000, compared to $4,800,000 as of December 31, 2021[4] - Trade receivables as of June 30, 2022, amounted to $9,934,000, a decrease from $11,693,000 as of December 31, 2021, reflecting a reduction of approximately 15.1%[26] - Inventory levels increased to $27,131,000 as of June 30, 2022, compared to $18,622,000 as of December 31, 2021, marking a significant rise of approximately 45.9%[26] Dividends and Share Capital - The company declared an interim dividend of 5.9 HK cents per share for the six months ended June 30, 2022[1] - The interim dividend declared for the six months ended June 30, 2022, is 5.9 HK cents per share, an increase from 5.32 HK cents per share in the same period last year, representing a growth of 10.2%[23] - The total issued share capital as of June 30, 2022, was 1,093,925,000 shares, an increase from 1,090,811,000 shares as of December 31, 2021[30] Market and Product Insights - The company is engaged in the design, development, and marketing of software-defined wide area network (SD-WAN) routers[9] - The company faced challenges due to COVID-19 related lockdowns in Hong Kong and Taiwan, which delayed the release of a key product[37] - The strong appreciation of the US dollar negatively impacted sales figures calculated in USD[37] - The revenue breakdown by product/service category shows that wireless SD-WAN routers accounted for 54.1% of total revenue, while warranty and support services made up 24.7%[38] - 5G products contributed 15.9% of total revenue, with a year-on-year growth of approximately 255.4%[59] Future Outlook and Strategic Initiatives - The company provided guidance for the next quarter, expecting revenue to be between $1.6 billion and $1.7 billion, indicating a growth rate of 10% to 13%[91] - New product launches are anticipated to contribute an additional $200 million in revenue over the next fiscal year[91] - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience[91] - Market expansion plans include entering two new international markets by the end of the year, projected to increase market share by 5%[91] - The company is exploring potential acquisitions to bolster its product offerings, with a budget of $100 million allocated for this purpose[91] - A new strategic partnership has been established, expected to generate an additional $300 million in revenue over the next three years[91]

Financial Performance - The company achieved approximately 40.3% revenue growth and about 49.0% net profit growth year-over-year[7] - Revenue for 2021 reached $74.128 million, a 40.5% increase from $52.818 million in 2020[18] - Profit for the year attributable to owners of the parent was $21.200 million, up 49.0% from $14.230 million in 2020[18] - Core net profit for 2021 was $21.323 million, representing a 47.5% increase compared to $14.445 million in 2020[18] - Total assets increased to $71.743 million in 2021, up 21.0% from $59.307 million in 2020[19] - Total liabilities rose to $31.660 million, a 34.9% increase from $23.469 million in 2020[19] - Equity attributable to owners of the parent increased to $40.083 million, up 11.8% from $35.838 million in 2020[19] - Gross profit for the year ended December 31, 2021, was approximately US$43,155,000, a year-over-year increase of approximately 40.1%[32] - Gross profit margin was approximately 58.2%, compared to approximately 58.3% for the previous year[35] Revenue Streams - 5G products contributed around 10.1% to the total revenue, indicating a strong market presence in this segment[7] - Sales of wired SD-WAN products rose to approximately US$12,463,000, reflecting a year-over-year increase of about 36.2%[21] - Sales of wireless SD-WAN products increased to approximately US$42,561,000, marking a year-over-year growth of about 49.6%[21] - Warranty and support services revenue grew by approximately 27.6% to US$15,724,000[21] - Software licenses sales increased by approximately 16.3% year-over-year to US$3,380,000[21] - One-time sales increased approximately 44.3%, while recurring sales grew approximately 28.6% year-over-year[27] Market Expansion and Strategy - A new strategy is in place to expand into ASEAN and emerging countries by leveraging software capabilities and competitive pricing[11] - The company is expanding its ecosystem with more software integration to enable competitive subscription offerings, reflecting a shift towards a SaaS model[10] - Future expansion strategies include leveraging software development capabilities to penetrate ASEAN and emerging markets[15] - The company has seen significant growth in small-sized, ad-hoc networks, with businesses increasingly utilizing LTE/5G for quick deployment[7] - The strong growth in mid-range dual-radio wireless SD-WAN products and wired SD-WAN products for mid-sized enterprises aligns with the strategy to accelerate the growth of the installed base[22] Operational Efficiency - The company has minimized supply chain challenges through agile execution and securing component supply, outperforming industry peers[7] - The company is focused on operational improvements and diversifying its supply chain to mitigate ongoing challenges[17] - The SpeedFusion Cloud infrastructure has simplified the technical skills needed for establishing reliable connections across various industries[7] - The installed base growth is expected to increase recurring service revenue in the coming years[22] Marketing and Growth - Enhanced marketing efforts have resulted in broad growth across all markets, showcasing the effectiveness of the company's campaigns[9] - The marketing team has achieved broad growth across all markets through effective and creative promotional efforts[13] Corporate Governance - The Company has adopted the Corporate Governance Code and complied with all applicable code provisions during the year ended December 31, 2021[84] - The Board is responsible for the management, direction, and supervision of the Group's businesses[97] - The Company Secretary ensures that all Directors receive relevant information in a timely manner[104] - The Board delegates day-to-day operations and business strategies to executive Directors and senior management[95] - The independent non-executive Directors contribute independent judgment on strategy, performance, and risk[96] - The Board's main duties include ensuring the effectiveness of the Group's financial reporting and compliance[97] Shareholder Information - The Board declared a second interim dividend of HK8.27 cents per share and a special dividend of HK0.71 cent per share for the year ended December 31, 2021[78] - The Group's liquidity position remained stable, with no liquidity problems reported during the year ended December 31, 2021[66] - Shareholders holding at least 10% of the Company's paid-up capital can requisition an extraordinary general meeting[149] - The organizational articles of association have not undergone significant changes as of December 31, 2021[159] Employee and Management - The Group had 190 full-time employees as of December 31, 2021, an increase from 167 in 2020[69] - The total amount of staff costs for the year was approximately US$9,854,000, up from US$8,215,000 in 2020[69] - The directors' remuneration is reviewed annually by the Remuneration Committee, with fees subject to shareholders' approval at general meetings[178] Risk Management - The Company has established a Risk Management Committee to enhance risk management capabilities and improve corporate governance[122] - The Group's internal audit function regularly reviews the effectiveness of risk management and internal control systems to adapt to the changing business environment[135] Share Option Scheme - The share option scheme was conditionally adopted on June 21, 2016, and became effective on the listing date, with a total of 36,408,000 options granted as of January 1, 2021[194] - The share option scheme aims to incentivize directors and employees, aligning their interests with the company's performance[194] - The company plans to continue utilizing the share option scheme to attract and retain talent in the future[194]

Financial Performance - Revenue for the six months ended June 30, 2021, was approximately $32,751,000, an increase of about 35.9% compared to $24,102,000 for the same period in 2020[1] - Profit attributable to the owners of the company for the six months ended June 30, 2021, was approximately $9,292,000, representing an increase of about 81.5% from $5,120,000 in the same period of 2020[2] - Basic earnings per share for the six months ended June 30, 2021, was approximately 0.86 cents, compared to approximately 0.49 cents for the same period in 2020[2] - The company recorded a gross profit of $19,645,000 for the six months ended June 30, 2021, compared to $14,136,000 for the same period in 2020[2] - Cash flow from operating activities for the six months ended June 30, 2021, was $7,766,000, an increase from $3,511,000 in the same period of 2020[6] - The company achieved a pre-tax profit of $11,042,000 for the six months ended June 30, 2021, compared to $6,070,000 for the same period in 2020, representing an increase of approximately 82.2%[13] - The company reported a pre-tax profit of $1,750,000 for the six months ended June 30, 2021, compared to $950,000 for the same period in 2020, indicating an increase of 84%[20] - Net profit attributable to the parent company reached approximately $9,292,000, reflecting a year-over-year growth of about 81.5%[46] Revenue Breakdown - The sales of SD-WAN routers generated $18,275,000 in revenue for the six months ended June 30, 2021, compared to $12,960,000 in the same period of 2020, reflecting a growth of approximately 41.1%[13] - The software licensing and support services segment reported revenue of $8,530,000 for the six months ended June 30, 2021, compared to $7,266,000 in 2020, marking an increase of about 17.4%[13] - Revenue from North America reached $18,106,000 for the six months ended June 30, 2021, up from $13,628,000 in 2020, which is a growth of about 32.3%[14] - Revenue from Europe, the Middle East, and Africa was $9,366,000 for the six months ended June 30, 2021, compared to $6,257,000 in 2020, reflecting an increase of approximately 49.5%[14] - Revenue from customer contracts for the six months ended June 30, 2021, was $32,751,000, an increase of 36% compared to $24,102,000 for the same period in 2020[15] - SD-WAN sales contributed $24,221,000 in revenue for the first half of 2021, up from $16,836,000 in 2020, representing a growth of 44%[15] Assets and Liabilities - Total current assets as of June 30, 2021, were $54,421,000, slightly down from $54,941,000 as of December 31, 2020[3] - Total non-current assets as of June 30, 2021, were $3,706,000, down from $4,366,000 as of December 31, 2020[3] - The company’s total equity attributable to owners was $34,364,000 as of June 30, 2021, compared to $35,838,000 as of December 31, 2020[4] - Trade receivables as of June 30, 2021, were $8,622,000, up from $7,110,000 at the end of 2020, showing a growth of 21%[25] - The total inventory as of June 30, 2021, was $15,824,000, an increase from $12,509,000 at the end of 2020, reflecting a growth of 27%[21] - As of June 30, 2021, the company's bank borrowings were approximately $1.368 million, down from $3.387 million on December 31, 2020, resulting in a capital debt ratio of about 4.0% compared to 9.4% the previous year[52] Dividends and Shareholder Information - The company declared an interim dividend of 5.32 HK cents per share to shareholders listed on August 11, 2021[1] - The company declared an interim dividend of 5.32 HKD per share for the six months ended June 30, 2021, compared to 3.03 HKD per share for the same period in 2020, marking a 76% increase[22] - The company has authorized 4,000,000,000 shares, with 1,081,760,000 shares issued and fully paid as of June 30, 2021, compared to 1,071,728,000 shares as of December 31, 2020[28] - The beneficial ownership of shares by directors includes 756 million shares (69.9%) held by Chen Yongkang[64] - The beneficial ownership of shares by other directors includes 6 million shares (0.6%) held by Zhou Jiehuai, Zhuang Mingpei, and Yang Yu[64] Operational Highlights - The company has been engaged in the design, development, and marketing of software-defined wide area network (SD-WAN) routers during this period[9] - The company has two reportable operating segments: sales of SD-WAN routers and software licensing and support services, with both segments showing positive growth[12] - The significant increase in sales of wired and wireless SD-WAN routers was attributed to the growing demand for flexible connectivity to ensure online business continuity and productivity[36] - The company continues to experience growth in warranty and support services at a rate similar to past trends[36] - The company plans to launch several advanced new products supporting 5G and WiFi 6 in the second half of the year[49] - The company is preparing for the next phase of growth with the launch of a disruptive new service aimed at simplifying mobile connectivity for enterprise customers, potentially increasing recurring revenue significantly in the coming years[50] Governance and Compliance - The company has adopted a corporate governance code to maintain high levels of governance and transparency, complying with all applicable provisions during the reporting period[75] - The audit committee has reviewed the group's interim performance, including accounting principles and financial reporting matters for the six months ended June 30, 2021[77] - The company has confirmed that no directors or their associates held any interests in businesses that compete with the group during the reporting period[71] - The company has complied with the standard code for securities transactions by directors throughout the reporting period[76] Research and Development - Research and development expenses increased by approximately 13.8% to about $4,630,000, driven by the expansion of the R&D team and investments in 5G product development[44] - The company has fully utilized the net proceeds of approximately $14.0 million from its IPO, with allocations including 36% for expanding the R&D team and 15% for marketing activities[59] Other Financial Information - The company reported a net cash flow from investing activities of $(568,000) for the six months ended June 30, 2021, compared to $(5,862,000) in the same period of 2020[6] - The company reported a net foreign exchange loss of $140,000 for the six months ended June 30, 2021, compared to a gain of $103,000 in 2020[17] - The company received government grants totaling approximately $308,000 related to R&D projects during the reporting period[18] - The company did not purchase, redeem, or sell any of its listed securities during the reporting period[74] - There were no significant subsequent events after June 30, 2021, up to the date of this report[72]

Financial Performance - In 2020, the company achieved revenue growth of approximately 15.0% year-over-year and diluted EPS growth of 16.7% year-over-year[7]. - Plover Bay generated annual revenue of US$52.8 million in 2020, an increase of 15.5% from US$45.9 million in 2019[14]. - The profit attributable to owners of the parent for 2020 was US$14.2 million, up from US$12.1 million in 2019, representing a growth of 17.7%[14]. - Core net profit for 2020 was US$14.4 million, compared to US$12.6 million in 2019, reflecting an increase of 14.6%[14]. - Earnings per share for 2020 was US$1.34, up from US$1.17 in 2019, indicating a growth of 14.5%[14]. - For the year ended December 31, 2020, the Group's revenue was approximately US$52,818,000, representing a year-on-year increase of approximately 15.0%[20]. - Gross profit for the year was approximately US$30,800,000, a year-on-year increase of approximately 7.0%[27]. - Gross profit margin decreased to approximately 58.3% from approximately 62.7% in the previous year[27]. - The profit attributable to the owners of the parent company for the year ended December 31, 2020, was approximately US$14,230,000, representing an increase of about 17.7% year-on-year[49]. Market Trends and Technology - The patented technology, SpeedFusion, has been instrumental in supporting organizations and schools for remote work and learning during the pandemic[7]. - The company anticipates a multi-year upgrade cycle to 5G networks, which will create strong demand for 5G wireless SD-WAN routers[7]. - The cost per GB with 5G is expected to be substantially lower than LTE, potentially overcoming psychological barriers for organizations to deploy mobile broadband[7]. - SpeedFusion is recognized as a stable and reliable connection technology for video conferencing, video streaming, and secure network access[7]. - Applications such as surveillance cameras and live video streaming are projected to drive demand for 5G solutions[7]. - The company expects significant changes in the industry as 5G networks gain traction globally[7]. - The company is positioned to benefit from the transition from LTE WAN to 5G, enhancing its market presence[7]. Operational Efficiency - The company has focused on operational efficiency, allowing it to minimize the impact of supply chain and logistics challenges due to the pandemic[7]. - The operational excellence demonstrated in 2020 reflects the company's commitment to technology and efficiency[7]. - Total operating expenses for the year ended December 31, 2020, amounted to approximately US$15,435,000, representing a year-on-year increase of approximately 1.8%, with employee costs being the largest component at US$8,215,000[43]. Revenue Sources - Recurring sales from warranty packages and renewals contributed approximately US$13.5 million, or 25.5% of total revenue[10]. - Wireless SD-WAN segment grew 15.3% year-on-year, while wired SD-WAN segment sales increased approximately 16.5% year-on-year[20]. - Software licenses increased by 37.8% year-on-year, driven by sales of add-on features to a growing number of installed base[20]. - One-time sales increased 16.2% year-on-year, and recurring sales increased 11.7% year-on-year[22]. Assets and Liabilities - Total assets as of December 31, 2020, amounted to US$59.3 million, a rise from US$50.1 million in 2019[15]. - Total current liabilities increased to US$20.9 million in 2020 from US$12.9 million in 2019, marking a 62.2% increase[15]. - As of December 31, 2020, the Group's inventory balance was approximately US$12,509,000, an increase from approximately US$7,387,000 in 2019, due to increased purchases of electronic components amid a global shortage[45]. Corporate Governance - The Company complied with all applicable code provisions of the Corporate Governance Code during the year ended December 31, 2020[74]. - The Board consists of eight members, including five executive Directors and three independent non-executive Directors[82]. - The Company aims to maintain high standards of corporate governance to enhance shareholder value[80]. - The Board's main duties include overseeing the management and ensuring effective financial reporting and compliance[87]. - The Company has established a framework for corporate governance, ensuring effective operation of the Board and its committees[99]. Dividends and Shareholder Returns - A second interim dividend of HK6.23 cents per share and a special dividend of HK2.17 cents per share were declared for the year ended 31 December 2020[71]. - The Board will consider future capital needs, profitability, financial structure, and liquidity when determining dividends for shareholders[121]. - The Company has maintained its dividend policy since February 28, 2019, aiming to provide stable and sustainable returns to shareholders[120]. Investor Relations - The Group actively engages with investors through investment forums, on-site visits, and trade shows to enhance understanding of its business[134]. - The company has strengthened investor relations through participation in investment forums and communication with analysts and fund management companies[138]. - The company plans to maintain good communication with investors through regular press releases, updates on the website, and active participation in meetings and roadshows[138]. Environmental, Social, and Governance (ESG) - The Group's Environmental, Social and Governance (ESG) Report covers the performance of social and governance from January 1, 2020, to December 31, 2020[187]. - The ESG report presents the Group's sustainability approach and performance in the environmental and social aspects of its business in Hong Kong during the year[188]. - The Group is committed to emission reduction and resource conservation across all operations[195]. - The Group continues to improve resource usage intensity in energy conservation, packaging materials, waste management, and green operations[196]. Management Team - The company has a strong management team with diverse backgrounds in engineering and business management, enhancing its operational capabilities[150]. - The executive director and chairman, Mr. Chan, has over 30 years of experience in the electronic engineering and information technology industry[140]. - The CEO, Mr. Chau, has over 20 years of experience in sales and marketing within the information technology industry[140]. - The company is committed to continuous innovation in both hardware and software sectors to drive future growth[146].