Financial Performance - The total revenue for the fiscal year ending December 31, 2024, was approximately HKD 168.83 million, a decrease of about 70.0% compared to HKD 563.54 million in 2023[10] - Revenue from big data services for the fiscal year was approximately HKD 167.67 million, down from HKD 561.40 million in 2023[10] - The company reported a loss from continuing operations of approximately HKD 496.37 million for the fiscal year, compared to a loss of HKD 132.46 million in 2023[10] - Loss per share from continuing operations was approximately HKD 0.266 for the fiscal year, compared to HKD 0.061 in 2023[11] - The net asset value per share attributable to owners was approximately HKD 0.05, down from HKD 0.22 in 2023[12] - The company did not recommend a final dividend for the fiscal year, consistent with 2023[13] - The group's gross profit from continuing operations decreased to approximately HKD 100,629,000 for the year ended December 31, 2024, down from HKD 402,390,000 in 2023, resulting in a gross margin of approximately 59.6% compared to 71.4% in 2023[23] - The impairment loss on non-financial assets for the group's continuing operations was approximately HKD 357,606,000 for the year ended December 31, 2024, compared to none in 2023[23] - The group's financing costs increased to approximately HKD 20,509,000 for the year ended December 31, 2024, up from HKD 10,936,000 in 2023, primarily due to increased interest on bank and other borrowings[26] - The group's non-current assets were approximately HKD 112,827,000 as of December 31, 2024, a significant decrease from HKD 495,369,000 in 2023, including intangible assets dropping to approximately HKD 22,885,000 from HKD 367,599,000[27] - The group’s administrative expenses from continuing operations decreased to approximately HKD 92,389,000 for the year ended December 31, 2024, down from HKD 104,187,000 in 2023, mainly due to reduced employee costs[24] - The group’s research and development expenses decreased significantly to approximately HKD 36,087,000 for the year ended December 31, 2024, from HKD 222,054,000 in 2023, primarily due to reduced employee costs and technical service expenses in the big data services segment[24] - As of December 31, 2024, the total debt of the group was approximately HKD 149,202,000, a significant decrease from HKD 595,813,000 in 2023[28] - The group's debt-to-asset ratio as of December 31, 2024, was 1.1 times, compared to 0.7 times in 2023[29] - The current ratio, calculated as current assets divided by current liabilities, was approximately 0.8 times as of December 31, 2024, down from 1.0 times in 2023[29] Business Strategy and Operations - The company is focusing on enhancing its core capabilities and optimizing resource allocation to improve customer retention and operational efficiency[6] - The company plans to upgrade its SaaS/PaaS cloud platform architecture and develop a multimodal data fusion engine to enhance service offerings[8] - The company aims to explore new data applications in government data governance and supply chain finance[8] - The company emphasizes a long-term strategy, focusing on technology development and operational efficiency amidst external challenges[7] - The group has decided to sell its entire interest in the third-party payment services segment due to its negative contribution in the previous year[22] - The average revenue growth rate for LYGR Group from fiscal year 2024 to 2028 is estimated at approximately 24.6%[37] - The average revenue growth rate for LYGR Group from fiscal year 2025 to 2029 has been revised down to approximately 8.1%[41] - The company is primarily engaged in investment holding, with significant revenue expected to continue from its operations in China[62] - The company aims to maintain sufficient reserves while providing ongoing returns to shareholders, considering various financial and operational factors[68] Governance and Compliance - The board consists of experienced directors with backgrounds in finance and law, enhancing governance and strategic oversight[60] - The company has a structured approach to managing its business risks, with policies in place to identify and mitigate potential adverse impacts[63] - The company has faced compliance issues with listing rules, as disclosed in announcements made on May 31, 2024[62] - The board consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors[123] - The company has adopted a diversity policy for board members, considering factors such as gender, age, cultural background, and professional experience[134] - The company has established anti-corruption and reporting policies to promote a healthy corporate culture[120] - The board is responsible for overall strategy and performance monitoring, while management is tasked with day-to-day operations[127] - The company has established a shareholder communication policy to ensure that shareholder opinions and concerns are properly addressed[170] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes its commitment to sustainable development and corporate social responsibility, integrating environmental, social, and governance (ESG) considerations into its annual risk assessments[178] - The board of directors is responsible for overseeing ESG-related risks and opportunities, establishing strategies and goals, and reviewing performance annually[179] - The company has established an ESG working group composed of senior management to support the board in implementing ESG strategies and managing identified issues[180] - Key ESG issues identified include emissions, greenhouse gas emissions, and energy consumption, with a focus on compliance with environmental laws and regulations[189] - The company is committed to monitoring and adhering to relevant environmental laws, including the Environmental Protection Law and the Air Pollution Prevention and Control Law[189] - The company aims to enhance employee awareness of environmental protection and establish a sustainable operational environment[189] - The company recorded zero emissions of nitrogen oxides, sulfur oxides, and particulate matter during the reporting period, a significant reduction compared to the previous period where nitrogen oxides were 72.48 kg, sulfur oxides were 0.12 kg, and particulate matter was 3.66 kg[191] - The total greenhouse gas emissions decreased from 1,628.34 tons of CO2 equivalent in the previous year to 303.05 tons in the current year, representing a reduction of approximately 81.39%[193] - The company aims to maintain or reduce greenhouse gas emissions density between 90% to 120% compared to the baseline level by December 31, 2024[193] - The company has implemented green office measures to reduce paper usage, including setting printers to double-sided printing by default[198] Shareholder and Stakeholder Engagement - The company encourages all shareholders to attend the Annual General Meeting and allows for proxy representation if unable to attend[166] - The next Annual General Meeting is scheduled for June 2, 2025, with a notice to be sent at least 20 business days prior[166] - Shareholders holding at least 10% of the paid-up capital can request a special general meeting, which must be held within two months of the request[168] - The company’s website provides updated information regarding board members, committee charters, and other relevant corporate communications[170]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 168,832,000, a decrease of 70% compared to HKD 563,539,000 in 2023[2] - The gross profit for the same period was HKD 100,629,000, down 75% from HKD 402,390,000 in the previous year[2] - The company incurred a loss before tax of HKD 498,142,000, compared to a loss of HKD 146,116,000 in 2023, representing a significant increase in losses[2] - The total comprehensive loss for the year was HKD 496,175,000, compared to HKD 156,518,000 in 2023, indicating a worsening financial position[3] - The company reported a basic and diluted loss per share of HKD 26.6, compared to HKD 6.6 in 2023, highlighting a deterioration in earnings performance[3] - The group recorded a net loss of approximately HKD 496,370,000 for the year ending December 31, 2024, with current liabilities and net losses amounting to approximately HKD 141,937,000 and HKD 36,229,000 respectively[15] - The group reported total customer contract revenue from continuing operations of HKD 168,832,000 in 2024, down from HKD 563,539,000 in 2023, indicating a decline of approximately 70%[18] - The group reported a total loss from continuing operations of HKD 496,370,000 for the year ended December 31, 2024, compared to a loss of HKD 132,463,000 for the previous year[23][27] - The loss from continuing operations for the year ended December 31, 2024, was approximately HKD 496,370,000, compared to a loss of HKD 132,463,000 in 2023[43] - The loss per share from continuing operations was approximately HKD 0.266 for the year ended December 31, 2024, compared to HKD 0.061 in 2023[43] Asset and Liability Management - The company's total assets decreased to HKD 549,210,000 in 2024 from HKD 1,628,712,000 in 2023, reflecting a significant reduction in asset value[4] - The company's current liabilities amounted to HKD 578,320,000, down from HKD 1,154,527,000 in the previous year, indicating a reduction in short-term obligations[4] - The company’s equity attributable to owners decreased to a deficit of HKD 54,339,000 from HKD 229,723,000 in 2023, reflecting a significant decline in shareholder value[5] - As of December 31, 2024, the group's total debt amounted to approximately HKD 149,202,000, a significant decrease from HKD 595,813,000 in 2023[57] - The asset-liability ratio as of December 31, 2024, was 1.1 times, compared to 0.7 times in 2023, indicating increased leverage[58] - The current ratio was approximately 0.8 times as of December 31, 2024, down from 1.0 times in 2023, reflecting liquidity concerns[58] Impairment and Losses - The company has recognized an impairment loss of HKD 357,606,000 on non-financial assets, which was not present in the previous year[2] - The impairment loss recognized for trade receivables was HKD 59,559,000 in 2024, significantly higher than HKD 1,064,000 in 2023[26] - The group recognized a total impairment loss of HKD 357,606,000 for non-financial assets in 2024, with significant losses attributed to intangible assets[27] - The impairment loss related to non-financial assets for the LYGR cash-generating unit amounted to HKD 357,606,000, which has been recognized in the profit and loss statement[36] - The recoverable amount of the LYGR cash-generating unit was approximately HKD 74,232,000 as of December 31, 2024, down from HKD 1,259,755,000 in 2023[35] Revenue Decline - Revenue from big data services significantly declined, with data analytics service revenue dropping to HKD 167,673,000 in 2024 from HKD 561,399,000 in 2023, representing a decrease of approximately 70.2%[18] - Revenue from big data services for the year ended December 31, 2024, was approximately HKD 167,673,000, down about 70.1% from HKD 561,399,000 in 2023[46] - The gross profit margin for continuing operations decreased to approximately HKD 100,629,000, with a gross margin of about 59.6%, down from HKD 402,390,000 and 71.4% in 2023[51] Future Outlook and Strategies - The group is facing significant uncertainty regarding its ability to continue as a going concern due to outstanding debts totaling approximately HKD 253,967,000, which exceeds cash and cash equivalents of approximately HKD 37,949,000 as of December 31, 2024[15] - The group plans to seek additional funding through equity financing and long-term debt financing to support operational cash flow[16] - The group is actively negotiating with convertible bondholders for favorable settlement terms regarding principal and interest defaults[16] - The group aims to improve revenue from big data services by renewing or signing licensing agreements with various providers[16] - The group is considering selling its loss-making third-party payment services to avoid future resource injections and strengthen its financial position[16] - The group plans to sell its entire interest in the third-party payment services segment due to negative contributions from that segment in the previous year[50] - The group is focusing on "strategic contraction and capability accumulation" to shift from scale growth to value creation amid a challenging economic environment[71] - The group aims to deepen its technological capabilities and expand its ecosystem through a dual-driven approach of "technological depth and ecological extension"[71] Compliance and Governance - The independent auditor confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2024[78] - The group has complied with all provisions of the corporate governance code during the year ended December 31, 2024[75] Employee and Operational Costs - The group incurred total employee costs of HKD 71,529,000 in 2024, down from HKD 129,372,000 in 2023[27] - The group employed 172 employees as of December 31, 2024, a slight increase from 171 in 2023[64] Other Financial Metrics - The group reported a total of HKD 24,847,000 in other income for 2024, compared to a loss of HKD 94,840,000 in 2023[25] - Interest income from continuing operations decreased to HKD 411,000 in 2024 from HKD 874,000 in 2023[24] - The group's total financing costs increased to HKD 20,509,000 in 2024 from HKD 10,936,000 in 2023[26] - The group did not declare any dividends for the years ended December 31, 2024, and 2023[30] - The company decided not to recommend a final dividend for the year ended December 31, 2024[44] Regulatory Changes - The new Hong Kong Financial Reporting Standards, effective from January 1, 2027, are expected to impact the presentation and disclosure of the income statement in future financial reports[11] - The group is currently assessing the specific impact of the new Hong Kong Financial Reporting Standards on its consolidated financial statements[11]

Financial Performance - For the six months ended June 30, 2024, the group's consolidated revenue from continuing operations was approximately HKD 90,202,000, a decrease of about 67.7% compared to HKD 278,834,000 in 2023[6]. - Revenue from big data services for the same period was approximately HKD 89,721,000, down 67.8% from HKD 278,611,000 in 2023[9]. - The group reported a loss from continuing operations of approximately HKD 359,970,000, compared to a profit of HKD 7,518,000 in 2023[6]. - The loss per share for continuing operations was approximately HKD 0.2121, compared to earnings per share of HKD 0.0022 in 2023[6]. - The gross profit for the same period was HKD 57,017,000, compared to HKD 202,921,000 in 2023, indicating a significant decline[78]. - The company recorded a loss before tax of HKD 366,278,000, compared to a loss of HKD 4,627,000 in the previous year[78]. - Total comprehensive loss for the period was HKD 357,464,000, a substantial increase from HKD 18,722,000 in the prior year[78]. - The company reported a loss attributable to owners of HKD 226,005,000 for the six months ended June 30, 2024, compared to a profit of HKD 17,072,000 in the same period of 2023, representing a significant decline[79]. - The basic and diluted loss per share from continuing and discontinued operations was HKD 21.21, a decrease from HKD 1.96 in the previous year[79]. Assets and Liabilities - The group's total liabilities as of June 30, 2024, were approximately HKD 593,990,000, slightly down from HKD 595,813,000 as of December 31, 2023[20]. - The debt-to-equity ratio as of June 30, 2024, was approximately 598.3%, compared to 130.4% as of December 31, 2023[21]. - The current ratio as of June 30, 2024, was approximately 0.9 times, down from 1.0 times as of December 31, 2023[21]. - The company's net asset value dropped to HKD 99,278,000 as of June 30, 2024, down from HKD 456,742,000 at the end of 2023[83]. - The company's total liabilities exceeded total assets by HKD 134,068,000 as of June 30, 2024, compared to HKD 21,184,000 as of December 31, 2023[83]. - Non-current assets decreased to HKD 242,844,000 as of June 30, 2024, from HKD 495,369,000 as of December 31, 2023[82]. - Current liabilities increased to HKD 1,195,861,000 as of June 30, 2024, compared to HKD 1,154,527,000 as of December 31, 2023[83]. - The company reported a significant increase in trade and other receivables, which rose to HKD 419,830,000 as of June 30, 2024, from HKD 370,977,000 as of December 31, 2023[82]. Operational Strategy - The group is focusing on cost reduction and efficiency improvement measures in response to the challenging market environment[9]. - The company is awaiting further clarification regarding the renewal of its third-party payment service license, which expired in August 2021[11]. - The company is considering other options regarding its third-party payment service category, including the potential sale of its entire stake in that category[13]. - The company is focusing on core product development and maintenance, particularly in big data analysis for the consumer credit sector, utilizing its SaaS/PaaS cloud platform[29]. - The company aims to improve operational efficiency and service quality while maintaining employee satisfaction amidst economic fluctuations and market changes[29]. - The company has implemented cost control measures and organizational restructuring to improve business efficiency[28]. - The company is focused on optimizing internal management to respond swiftly to market changes while maintaining service quality[29]. Cash Flow and Financing - The group reported a net cash outflow from operating activities of HKD 90,106,000 for the six months ended June 30, 2024, compared to a net cash inflow of HKD 18,666,000 in the same period of 2023[89]. - Cash and cash equivalents decreased to HKD 31,646,000 as of June 30, 2024, down from HKD 216,728,000 at the beginning of the period[89]. - The group plans to raise additional funds through equity financing and long-term debt financing to meet its operational and financial obligations[93]. - The group intends to sell non-core businesses and assets to raise more operational funds[93]. Employee and Management - The total employee cost from continuing operations for the six months ended June 30, 2024, was approximately HKD 40,746,000, down from HKD 57,912,000 in 2023, with the number of employees decreasing to 119 from 171[24]. - The company's executive directors received a total remuneration of HKD 4,839,000 for the six months ended June 30, 2024, compared to HKD 1,997,000 for the same period in 2023[164]. Share Options and Capital - The company has not granted any share options under the share option plan as of June 30, 2024[43]. - The total number of share options available for grant under the share option plan is 47,648,366 as of June 30, 2024[43]. - The share option plan aims to attract and retain top talent, incentivize participants, and promote the success of the group[44]. - The maximum number of shares that may be issued upon exercise of options granted under the share option plan shall not exceed 10% of the issued shares as of the adoption date[54]. Impairment and Losses - The impairment loss on intangible assets recognized for the six months ended June 30, 2024, was approximately HKD 238,301,000, compared to none in 2023[14]. - The expected credit loss under the impairment model increased to approximately HKD 66,348,000, up from HKD 2,911,000 in 2023, mainly due to the impairment of long-term overdue trade and other receivables in the third-party payment service category[14]. - The total impairment loss recognized for goodwill and supplier relationships related to the big data cash-generating unit was approximately HKD 238,301,000[137].

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of HKD 90,202 thousand, a decrease of 67.6% compared to HKD 278,834 thousand in the same period of 2023[2]. - Gross profit for the same period was HKD 57,017 thousand, down 72.0% from HKD 202,921 thousand year-over-year[2]. - The company reported a loss before tax of HKD 366,278 thousand, compared to a loss of HKD 4,627 thousand in the prior year[2]. - The net loss attributable to owners of the company was HKD 226,005 thousand, compared to a profit of HKD 1,883 thousand in the same period last year[4]. - The group recorded a loss of approximately HKD 359,970,000 during the interim period[9]. - For the six months ended June 30, 2024, the total revenue from continuing operations was HKD 90,202,000, with HKD 89,721,000 from Big Data Services and HKD 481,000 from Third Party Payment Services[14]. - The total loss from continuing operations for the same period was HKD (359,970,000), reflecting a significant increase in losses compared to the previous period[14]. - The company reported a tax benefit of HKD 6,308,000 for the six months ended June 30, 2024[14]. - The company’s net loss attributable to continuing operations for the six months ended June 30, 2024, was HKD (366,278,000) before tax adjustments[14]. - For the six months ended June 30, 2024, the company reported a loss attributable to owners of the company of HKD 226,005,000, compared to a profit of HKD 1,883,000 for the same period in 2023[19]. - The basic and diluted loss per share from continuing operations for the six months ended June 30, 2024, was HKD 0.212, while for the same period in 2023, it was HKD 0.020[19]. Assets and Liabilities - Total assets as of June 30, 2024, were HKD 242,844 thousand, down from HKD 495,369 thousand at the end of 2023[6]. - Current liabilities amounted to HKD 1,061,793 thousand, a slight decrease from HKD 1,133,343 thousand in the previous year[6]. - The company reported a net asset value of HKD 108,776 thousand, significantly down from HKD 474,185 thousand in the previous year[6]. - The group's total equity as of June 30, 2024 was HKD 99,278,000, down from HKD 456,742,000 as of December 31, 2023[7]. - The group's total liabilities as of June 30, 2024, were approximately HKD 593,990,000 (2023: HKD 595,813,000), indicating a stable debt level[36]. - The debt-to-equity ratio as of June 30, 2024, was approximately 598.3% (2023: 130.4%), showing a significant increase in leverage[37]. - The current ratio as of June 30, 2024, was approximately 0.9 times (2023: 1.0 times), indicating a decline in short-term liquidity[37]. Impairment and Losses - The company recognized an impairment loss of HKD 238,301 thousand under the expected credit loss model, which was not present in the previous year[2]. - The company recognized impairment losses of HKD 87,000 related to trade receivables during the reporting period[18]. - The company recognized an impairment loss of approximately HKD 114,545,000 and HKD 123,756,000 related to goodwill and supplier relationships in the data services cash-generating unit[23]. - The impairment loss on intangible assets recognized for the six months ended June 30, 2024, was approximately HKD 238,301,000 (2023: nil), indicating a significant financial impact[35]. - The expected credit loss under the impairment model increased to approximately HKD 66,348,000 (2023: HKD 2,911,000), mainly due to the impairment of long-term receivables in the third-party payment service segment[35]. Operational Strategies - The company plans to focus on cost reduction strategies and explore new market opportunities to improve financial performance in the upcoming periods[2]. - The company plans to raise additional funds through equity financing and long-term debt financing to address financial obligations[9]. - The company aims to generate cash flow from existing and new business operations as part of its strategy[10]. - The company is considering the sale of non-core businesses and assets to raise more operational funds[10]. - The board believes that if the proposed measures are successfully implemented, the group will have sufficient working capital to meet its operational and financial obligations[10]. - The company is facing significant challenges due to ongoing economic and market volatility, impacting its business environment[30]. - The company has implemented cost reduction and efficiency enhancement measures to focus on developing core capabilities and meeting the needs of high-quality customers[30]. - The company is actively optimizing internal management and improving operational efficiency to respond swiftly to market changes and demands[43]. Employee and Management - As of June 30, 2024, the company employed 119 employees, a decrease from 171 employees as of December 31, 2023[40]. - The total employee cost from continuing operations for the six months ended June 30, 2024, was approximately HKD 40,746,000, down from HKD 57,423,000 for the same period in 2023, representing a reduction of about 29.5%[40]. - The company has maintained a prudent financial management approach, ensuring a healthy liquidity position throughout the period[39]. - The company has adhered to the corporate governance principles and standards as of June 30, 2024[47]. - The audit committee has reviewed the accounting principles and practices adopted by the group, discussing internal controls and financial reporting matters[48]. Revenue Segments - Revenue from big data services for the same period was approximately HKD 89,721,000, down 67.8% from HKD 278,611,000 in 2023, with a segment loss of approximately HKD 238,464,000 compared to a profit of HKD 27,417,000 in 2023[31]. - Revenue from third-party payment services increased by approximately 115.7% to HKD 481,000 from HKD 223,000 in 2023, but the segment incurred a loss of approximately HKD 95,234,000 compared to HKD 8,781,000 in 2023[32]. - The company has ceased operations in the Paint segment, which has been classified as discontinued operations[14]. - The company’s revenue is primarily derived from a single geographical region, specifically China, with no independent analysis by geographical segment presented[16]. Future Outlook - The company is focusing on core capabilities and developing its business around the needs of high-quality customers amid increasing regulatory costs and competitive pressures[43]. - The company plans to continue investing in R&D and deepen its innovation development, particularly in the area of data analysis[44]. - The company aims to enhance service efficiency and provide safer, more convenient, and personalized financial services to meet customer needs[44]. - The company is leveraging artificial intelligence algorithms to enhance the capabilities of financial institutions and improve digital operations and management[43]. - The company’s management has projected a 2% average growth rate for cash flows beyond the five-year forecast period based on industry growth expectations[23].

Financial Performance - The company achieved a revenue of HKD 561 million for the year 2023, representing a year-on-year growth of 41.4% compared to 2022[6]. - For the year ended December 31, 2023, the consolidated revenue from continuing operations was approximately HKD 563,539,000, an increase of about 27.5% compared to HKD 441,913,000 in 2022, primarily driven by significant growth in big data services[10]. - Revenue from big data services for the year was approximately HKD 561,399,000, representing a 41.4% increase from HKD 397,021,000 in 2022[16]. - The total revenue for 2023 reflects the company's successful adaptation to changing user demands amid economic transformation[6]. - The gross profit from continuing operations increased to approximately HKD 402,390,000, with a gross margin of about 71.4%, up from 60.6% in 2022[21]. - The loss from continuing operations for the year was approximately HKD 132,463,000, compared to HKD 89,216,000 in 2022, mainly due to increased other losses, distribution and sales expenses, and R&D expenses[10]. - The company reported a significant decline in revenue from third-party payment services, contributing approximately HKD 2,140,000, a decrease of about 95.2% from HKD 44,892,000 in 2022[17]. - The loss from the third-party payment services segment increased to approximately HKD 123,657,000, compared to HKD 21,299,000 in 2022[17]. Business Strategy and Development - The company has established itself as a key supplier for several leading retail credit financial institutions in China[6]. - Future development will focus on regulatory and market demands, enhancing product application depth and service breadth[8]. - The company aims to embed its AI-enabled algorithm solutions into clients' full lifecycle intelligent risk control platforms[8]. - The company is committed to exploring new business growth points in various sectors, including retail finance and insurance risk operations[8]. - The company emphasizes the importance of improving input-output ratios in technology investments for financial institutions[5]. - The shift in technology investment from broad to precise, with a focus on specific business areas such as data governance and digital marketing[5]. - The company is primarily an investment holding company with significant operations in China, where it expects most of its revenue to continue to come from[67]. - The company is focused on expanding its market presence and exploring new strategies for growth[67]. Risk Management and Compliance - The company has faced various risks and uncertainties that could impact its financial condition and operational performance, particularly related to economic, political, and legal developments in China[68]. - The company has established policies to continuously identify and manage risks that may adversely affect its operations[68]. - The financial risk management objectives and policies of the company are detailed in the consolidated financial statements[67]. - The company has implemented a whistleblowing policy to enhance monitoring awareness among employees[172]. - The company ensures compliance with the Securities and Futures Ordinance and listing rules regarding the handling and disclosure of inside information[171]. - The company has established a risk management framework that includes a risk management team and regular evaluations of significant risks[167]. Corporate Governance - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[138]. - The board has adopted a diversity policy, considering factors such as gender, age, cultural background, and professional experience for board member appointments[148]. - The company has arranged suitable liability insurance for directors and senior officers to protect against legal actions arising from corporate activities[146]. - The remuneration committee held one meeting during the year, with a 100% attendance rate from all members[156]. - The Audit Committee conducted two meetings in the year, achieving a 100% attendance rate from all members[164]. - The independent non-executive directors have confirmed compliance with the standards set out in the listing rules for the year ended December 31, 2023[137][140]. - The company has established a shareholder communication policy to ensure that shareholder opinions and concerns are properly addressed[182]. Employee and Social Responsibility - The company has achieved a gender diversity ratio of approximately 62:38, with 65 female employees representing 38.0% of the total workforce[150]. - The company has implemented appropriate recruitment practices to ensure gender diversity among senior employees[150]. - The company encourages all directors to participate in external training courses for continuous professional development[145]. - The company emphasizes the importance of sustainable development and corporate social responsibility, outlining strategies and practices related to environmental, social, and governance (ESG) matters[190]. - The company has formed an ESG working group composed of senior management to support the board in implementing ESG strategies and managing identified issues[191]. - Regular communication with stakeholders is conducted to track and review sustainability priorities, integrating results into sustainability measures and strategies[192]. Shareholder Information - The company did not recommend a final dividend for the year, consistent with the previous year[13]. - As of December 31, 2023, the reserves available for distribution to shareholders were approximately HKD 312,471,000, down from HKD 393,546,000 in 2022[75]. - The company encourages all shareholders to attend the Annual General Meeting and allows for proxy representation if unable to attend[177]. - The company will hold its next Annual General Meeting on June 27, 2024[177]. Financial Position - As of December 31, 2023, the company's non-current assets amounted to approximately HKD 495,369,000, a decrease from HKD 739,502,000 in 2022[29]. - The total debt of the company as of December 31, 2023, was approximately HKD 595,813,000, down from HKD 640,250,000 in 2022[30]. - The company's debt-to-equity ratio as of December 31, 2023, was approximately 130.4%, compared to 124.3% in 2022[32]. - The net debt-to-equity ratio as of December 31, 2023, was approximately 79.8%, an increase from 53.1% in 2022[32]. - The current ratio as of December 31, 2023, was approximately 1.0 times, up from 0.8 times in 2022[32]. Audit and Financial Reporting - The financial statements for the year ended December 31, 2023, were audited by a reputable accounting firm, which is eligible and willing to be reappointed[131]. - The auditor's fees for audit services amounted to approximately HKD 2,650,000 for the year ending December 31, 2023, a decrease from HKD 3,080,000 in 2022[166]. - Non-audit services fees were approximately HKD 1,060,000 for the year ending December 31, 2023, slightly down from HKD 1,080,000 in 2022[166]. - The company confirmed that the report does not contain any false information, misleading statements, or significant omissions, ensuring the accuracy and completeness of the content[188].

Financial Performance - For the year ended December 31, 2023, the company reported a revenue of HKD 563,539,000, representing an increase of 27.5% compared to HKD 441,913,000 in 2022[2] - The company incurred a loss before tax of HKD 146,116,000, compared to a loss of HKD 96,080,000 in the previous year, reflecting a deterioration in financial performance[2] - Total comprehensive loss for the year was HKD 138,277,000, which is higher than the loss of HKD 102,733,000 reported in 2022[3] - The company reported a basic and diluted loss per share of HKD 6.6 cents for the year, compared to HKD 11.1 cents in the previous year[3] - The company reported a net loss for the year of HKD (132,463,000) in 2023, compared to HKD (89,216,000) in 2022, reflecting ongoing financial challenges[24][25] Cost Management - The cost of sales decreased to HKD 161,149,000 from HKD 174,297,000, resulting in a gross profit of HKD 402,390,000, up from HKD 267,616,000, indicating a significant improvement in gross margin[2] - The total operating expenses for the year amounted to HKD 156,518,000, a decrease from HKD 180,463,000 in 2022, indicating improved cost management[3] - Employee costs totaled HKD 129,372,000 in 2023, a significant rise from HKD 95,900,000 in 2022, indicating an increase of approximately 35%[30] - Distribution and selling expenses increased to approximately HKD 117,578,000 for the year ended December 31, 2023, from HKD 55,888,000 in 2022, primarily due to provisions for product quality assurance and increased employee costs in the big data services segment[84] Research and Development - Research and development expenses increased to HKD 222,054,000 from HKD 188,471,000, highlighting the company's commitment to innovation[2] - The group reported an increase in deferred tax assets related to unutilized tax losses, resulting in an increase in income tax credits to approximately HKD 13,653,000 for the year ended December 31, 2023, compared to HKD 6,864,000 in 2022[85] Market Strategy - The company plans to continue its market expansion efforts and invest in new product development to drive future growth[2] - The company is focusing on improving operational efficiency to mitigate losses in the upcoming fiscal year[24] - The company anticipates a challenging market environment but remains committed to strategic investments in technology and services[24] - The group is focused on developing and closely monitoring its business strategy to generate cash flow from existing and new operations[19] Assets and Liabilities - Total assets decreased from HKD 739,502,000 in 2022 to HKD 495,369,000 in 2023, representing a decline of approximately 33%[4] - Current liabilities increased slightly from HKD 1,112,125,000 in 2022 to HKD 1,154,527,000 in 2023, indicating a rise of about 3.8%[5] - The company reported a net current liability of HKD (21,184,000) in 2023, compared to HKD (180,571,000) in 2022, showing an improvement in liquidity[4] - The company’s total liabilities increased from HKD 1,112,125,000 in 2022 to HKD 1,154,527,000 in 2023, reflecting a rise of approximately 3.8%[5] Compliance and Governance - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, which include significant changes to the recognition of deferred tax assets and liabilities related to leases[10] - The independent auditor confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2023[123] - The company has adopted corporate governance measures to maintain high standards, complying with all relevant rules as of December 31, 2023[119] Discontinued Operations - The group has terminated the consolidation of a subsidiary, Rookwood, which is classified as a discontinued operation[23] - The loss from discontinued operations for 2023 was approximately HKD 4,191,000, down from HKD 11,423,000 in 2022, indicating a 63.4% reduction[38] - Rookwood reported a loss of HKD 35,357,000 for the year ending December 31, 2023, compared to a loss of HKD 13,517,000 for the previous year[63] Financing and Debt - The company plans to secure additional funding through equity financing and long-term debt financing to cover convertible bond payments and operational capital[18] - The company issued convertible bonds totaling HKD 46,000,000 with a 6.0% annual interest rate, maturing 18 months after issuance[53] - As of December 31, 2023, the company was in default on the convertible bonds, with total principal and interest amounting to approximately HKD 55,501,000[54] Future Outlook - The company emphasizes the importance of generating sufficient cash flow from future operations to ensure its ability to continue as a going concern[125] - The company will continue to review and update its corporate governance practices[119] - The company aims to maintain and expand its business scale and market position in response to regulatory and market demands[111]

Revenue and Profitability - For the six months ended June 30, 2023, the total revenue of Lian Yang Intelligent Holdings Limited was approximately HKD 483,444,000, an increase of about 16.3% compared to HKD 415,600,000 in the same period of 2022[4]. - Revenue from big data services was approximately HKD 278,611,000, up 38.1% from HKD 201,726,000 in 2022[9]. - The loss attributable to owners of the company decreased to approximately HKD 17,072,000, compared to HKD 42,625,000 in 2022[4]. - The earnings per share for the six months ended June 30, 2023, was approximately HKD 0.0196, compared to HKD 0.0560 in 2022[5]. - The big data services segment contributed a profit of approximately HKD 27,417,000, compared to HKD 23,601,000 in 2022[9]. - The gross profit for the same period was HKD 248,962,000, up 42.0% from HKD 175,301,000 in 2022[68]. - The company reported a total loss of HKD 12,512,000 for the six months ended June 30, 2023, compared to a loss of HKD 49,611,000 for the same period in 2022, showing a significant improvement[86][87]. Expenses and Costs - R&D expenses increased to approximately HKD 91.87 million for the six months ended June 30, 2023, compared to HKD 85.88 million in 2022, mainly due to increased spending in the big data services segment[17]. - The group's distribution and selling expenses increased to approximately HKD 47.21 million for the six months ended June 30, 2023, up from HKD 28.47 million in 2022, mainly due to increased personnel costs in the big data services segment[15]. - The total employee cost for the six months ended June 30, 2023, was approximately HKD 110,295,000, up from HKD 71,278,000 in the previous year[31]. - The company reported a decrease in distribution and selling expenses to HKD 47,210,000 from HKD 28,472,000, indicating improved cost management[68]. Financial Position - As of June 30, 2023, the net asset value per share was approximately HKD 0.30, compared to HKD 0.20 as of December 31, 2022[5]. - The total debt as of June 30, 2023, was approximately HKD 581.96 million, a decrease from HKD 640.25 million as of December 31, 2022[22]. - The company's total liabilities amounted to HKD 1,111,749,000, with classified liabilities at HKD 961,076,000[89]. - The company's total equity amounted to HKD 561,459,000, a decrease from HKD 555,575,000 as of June 30, 2022[74]. - The company’s equity attributable to owners increased to HKD 249,171,000 from HKD 202,991,000 year-over-year, showing improved financial health[72]. Cash Flow and Liquidity - The company reported a net cash inflow from operating activities of HKD 18,666,000 for the six months ended June 30, 2023, compared to HKD 17,792,000 in the same period of 2022, representing an increase of approximately 4.9%[76]. - The company experienced a net cash outflow from investing activities of HKD 1,475,000 for the six months ended June 30, 2023, compared to a net cash outflow of HKD 4,868,000 in the same period of 2022[76]. - The company has a net current liability of approximately HKD 128,198,000 as of June 30, 2023, indicating potential liquidity challenges[77]. - The company’s cash and cash equivalents stood at HKD 216,728,000, compared to HKD 212,775,000 at the end of 2022, indicating stable liquidity[72]. Share and Stock Options - The company adopted a share incentive plan on January 9, 2020, which is valid for 10 years and aims to reward selected participants for their contributions to the group's ongoing operations and development[41]. - The maximum number of shares that can be granted under the share incentive plan cannot exceed 10% of the company's issued share capital at any time[43]. - As of June 30, 2023, no shares have been granted under the share incentive plan[43]. - The company adopted a stock option plan on June 30, 2021, with a total of 47,648,366 stock options available for grant as of January 1, 2023, and June 30, 2023[45]. - No stock options were granted during the six months ending June 30, 2023[45]. - The stock option plan is designed to attract and retain top talent, incentivize participants, and promote the success of the group[46]. Debt and Financing - The company has violated the terms of convertible bonds totaling HKD 52,900,000, which may impact its ability to continue as a going concern[77]. - The company plans to raise additional funds through equity financing and long-term debt financing to support its operations[78]. - The company issued convertible bonds with a principal amount of HKD 46,000,000 at an annual coupon rate of 6.0%, maturing in 18 months[112]. - The company’s cash flow from financing activities included obtaining other borrowings of HKD 10,000,000 at an interest rate of 30% to 35.9%[109]. Business Strategy and Future Outlook - The company is focusing on providing AI-enabled algorithm solutions to retail financial service providers in China, particularly in consumer finance and commercial insurance[8]. - The company plans to continue investing in research and development to enhance its big data analysis capabilities and expand into new business areas such as insurance[36]. - The company is actively monitoring foreign exchange risks and may consider hedging in significant currencies when necessary[27]. - The company is closely monitoring its business strategy to generate cash flow from existing and new operations[82].

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之內容 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 因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 Pan Asia Data Holdings Inc. 聯 洋 智 能 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1561） 截 至2023年6月30日 止 六 個 月 之 中 期 業 績 公 告 聯洋智能控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）宣佈本公 司及其附屬公司（統稱「本集團」）截至2023年6月30日止六個月之未經審核 簡明綜合業績連同2022年同期之比較數字如下： ...

Financial Performance - The total revenue for the year ended December 31, 2022, was approximately HKD 827.83 million, an increase of about 36.1% compared to HKD 608.16 million in 2021[10] - Revenue from big data services reached approximately HKD 397.02 million, up from HKD 172.84 million in 2021, representing a growth of over 130%[10] - The company reported a loss attributable to shareholders of approximately HKD 85.33 million, a significant improvement from a loss of HKD 238.68 million in 2021[10] - The loss per share for the year was approximately HKD 0.111, compared to HKD 0.330 in 2021, indicating a reduction in losses[11] - The company’s third-party payment services generated revenue of approximately HKD 44.89 million, up from HKD 26.73 million in 2021[10] - Revenue from the manufacturing and sale of paints was approximately HKD 385.92 million, a decrease from HKD 408.59 million in 2021[10] - The overall gross profit increased to approximately HKD 349,543,000 with a gross margin of about 42.2%, up from 31.3% in 2021, primarily due to the high-margin big data services launched in June 2021[22] - The paint business revenue decreased to approximately HKD 385,919,000, a decline of about 5.5% from HKD 408,594,000 in 2021, while segment profit increased to approximately HKD 61,293,000 from HKD 43,992,000[21] Assets and Liabilities - As of December 31, 2022, the net asset value per share was approximately HKD 0.20, down from HKD 0.30 in 2021[12] - As of December 31, 2022, the group's non-current assets were approximately HKD 739.5 million, a decrease from HKD 815.4 million in 2021[29] - The total debt of the group as of December 31, 2022, was approximately HKD 640.3 million, down from HKD 753.0 million in 2021[30] - The group's debt-to-equity ratio was approximately 124.3% as of December 31, 2022, compared to 135.5% in 2021[32] - The group's current liabilities net worth was approximately HKD 180.6 million as of December 31, 2022, down from HKD 354.2 million in 2021[29] - The group's liquidity ratio was approximately 0.8 times as of December 31, 2022, compared to 1.6 times in 2021[32] Research and Development - Research and development expenses increased to approximately HKD 188,471,000 from HKD 67,579,000 in 2021, driven by increased technical service expenditures in the big data services segment[23] - The company aims to enhance its competitive edge in fintech by continuously investing in R&D and innovating its AI-enabled algorithm solutions[54] Market Position and Strategy - The company has positioned itself as a core supplier in the consumer credit market, significantly increasing its market share[5] - The company aims to leverage regulatory support and market recovery to enhance its competitive edge in financial technology[6] - The company is focused on continuous product development and team building to adapt to evolving business and customer needs[6] - The company has accumulated a stable core customer base and business revenue, leveraging compliance advantages, technical capabilities, and industry insights[56] Shareholder Information - The company did not recommend a final dividend for the year ended December 31, 2022, consistent with 2021[13] - The company reported a reserve available for distribution to shareholders of approximately HKD 393,546,000 as of December 31, 2022, compared to HKD 399,978,000 in 2021[80] - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2022, consistent with the previous year[78] Corporate Governance - The company has established policies to identify and manage various financial risks, including business, foreign exchange, and financial risks[73][74][75] - The company has adopted a share incentive plan on January 9, 2020, allowing the board to grant shares to selected eligible participants at its discretion[97] - The board of directors includes Mr. Gu Zhongli (Chairman), Dr. Wang Bangyi, Mr. Jin Peiyi, and others, with changes in the board composition noted[87] - The company has established a risk management framework that includes a risk management team responsible for identifying and assessing significant risks at least once a year[173] - The company has implemented a whistleblowing policy to enhance monitoring awareness among employees regarding potential misconduct[178] Environmental, Social, and Governance (ESG) - The company emphasizes its commitment to sustainable development and corporate social responsibility, outlining strategies and visions related to environmental, social, and governance (ESG) matters[196] - The board of directors is responsible for overseeing ESG-related risks and opportunities, establishing strategies and goals, and reviewing performance annually[197] - An ESG working group has been established, consisting of senior management from various departments, to support the board in implementing ESG strategies and managing identified issues[197] - The company tracks and reviews sustainability priorities through regular communication with stakeholders, integrating results into sustainability measures and strategies[197] Employment and Diversity - The group employed 864 staff as of December 31, 2022, an increase from 826 in 2021[39] - As of December 31, 2022, the company employed 231 female employees, representing 26.7% of the total workforce, while 633 male employees accounted for 73.3%, achieving a gender ratio of approximately 73:27[158] - The board of directors is composed of seven members, including one female member, indicating an appropriate level of diversity in terms of gender, knowledge, and experience[157] Future Outlook - LYGR Group's average revenue growth rate is projected to be approximately 24.5% from FY2023 to FY2027[42] - The gross profit margin for LYGR Group is expected to range from about 68.9% to 83.6% during FY2023 to FY2027[42] - The net profit margin for LYGR Group is anticipated to be between approximately 2.6% and 31.0% from FY2023 to FY2027[42] - The company anticipates 2023 to be a year filled with opportunities and challenges due to policy benefits and economic recovery[56]

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 因本公告全部或任何部分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。 Pan Asia Data Holdings Inc. 聯 洋 智 能 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1561） 截 至2022年12月31日 止 年 度 的 經 審 核 業 績 公 告 聯洋智能控股有限公司（「本公司」）的董事「( 董事」)會（「董事會」）欣然 宣佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至2022年12月31日 止 年 度 的 經 審 核綜合業績連同截至2021年12月31日止年度的比較數字如下： 綜合損益表 截至2022年12月31日止年度 2022年 2021年 附註 千港元 千港元 收入 4 827,832 608,158 收入成本 (478,289) (417,669) ...