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) ...

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) ...

Revenue and Profitability - The consolidated revenue for the six months ended June 30, 2022, was approximately HKD 415.6 million, an increase of about 95.2% compared to HKD 212.94 million in 2021[9]. - Revenue from big data services amounted to approximately HKD 201.73 million, up from HKD 18.22 million in 2021[9]. - Revenue from third-party payment services reached approximately HKD 30.82 million, a significant increase of about 847.1% from HKD 3.25 million in 2021[21]. - The profit from the paint business increased to approximately HKD 28,768,000 for the six months ended June 30, 2022, compared to HKD 20,448,000 in 2021[23]. - The group's gross profit increased to approximately HKD 175,301,000 with a gross margin of about 42.2%, up from 25.2% in 2021, primarily due to the launch of a big data service business[28]. - The company reported a loss before tax of HKD 54,899,000, a substantial improvement from a loss of HKD 675,532,000 in the prior year[139]. - The net loss for the period was HKD 49,611,000, compared to a net loss of HKD 516,841,000 in the same period last year, reflecting a reduction of 90.4%[139]. Expenses and Costs - R&D expenses increased significantly to approximately HKD 85,876,000 for the six months ended June 30, 2022, up from HKD 7,931,000 in 2021, attributed to the big data service business[29]. - The group’s administrative expenses increased to approximately HKD 128,371,000 for the six months ended June 30, 2022, compared to HKD 68,295,000 in 2021[29]. - The group’s financing costs increased to approximately HKD 25,652,000 for the six months ended June 30, 2022, up from HKD 22,677,000 in 2021, mainly due to increased borrowings[29]. Assets and Liabilities - The group's cash and cash equivalents were approximately HKD 241,557,000 as of June 30, 2022, compared to HKD 238,016,000 as of December 31, 2021[43]. - Non-current assets were approximately HKD 786,054,000 as of June 30, 2022, down from HKD 815,423,000 as of December 31, 2021[44]. - As of June 30, 2022, the total debt of the group was approximately HKD 765,933,000, an increase from HKD 752,950,000 as of December 31, 2021[45]. - The group's asset-to-debt ratio was approximately 162.8% as of June 30, 2022, compared to 135.5% as of December 31, 2021[46]. - The total liabilities decreased to HKD 549,790 thousand from HKD 614,005 thousand, indicating a reduction in financial obligations[149]. Shareholder Information - The company has decided not to declare an interim dividend for the six months ended June 30, 2022[11]. - As of June 30, 2022, the total number of issued shares of the company was 761,483,665 shares[107]. - Timenew Limited, fully owned by Mr. Li Xiaoru, holds 217,297,714 shares, representing 28.54% of the company's equity[106]. - The company granted a total of 26,260,000 stock options, which accounts for 3.33% of the expanded issued share capital as of June 30, 2022[97]. Corporate Governance - The company has applied principles and complied with the corporate governance code as of June 30, 2022, except for the separation of roles between the chairman and CEO[120]. - The company has not established a CEO position, with daily operations managed by executive directors and senior management[120]. - Ms. Liu Rongrong resigned as an executive director on April 8, 2022[98]. Future Outlook and Strategy - The company is considering options regarding its third-party payment services segment, including the potential sale of its entire interest in this category[22]. - The group aims to deepen the development of big data analytics and expand market share through continuous optimization and upgrading of products and services[55].

Financial Performance - For the year ended December 31, 2021, the consolidated revenue of Pan Asia Data Holdings Inc. was approximately HKD 608.16 million, a decrease of about 2.2% compared to HKD 622.07 million in 2020[16]. - The revenue generated from big data services was approximately HKD 172.84 million for the year ended December 31, 2021, while revenue from third-party payment services was approximately HKD 26.73 million, down from HKD 291.30 million in 2020[16]. - The revenue from the manufacturing and trading of coatings was approximately HKD 408.59 million, an increase from HKD 330.76 million in 2020[16]. - The loss attributable to the owners of the company for the year ended December 31, 2021, was approximately HKD 238.68 million, a significant reduction from HKD 627.68 million in 2020[16]. - The loss per share for the year was approximately HKD 0.33, compared to HKD 0.93 in 2020[17]. - The group’s overall gross profit increased to approximately HKD 190,489,000, with a gross margin of about 31.3%, up from 22.0% in 2020[32]. - The group reported other income of approximately HKD 5,223,000 for the year, compared to a loss of HKD 1,465,000 in 2020, mainly due to gains from step acquisitions[32]. - The group recognized a tax credit of approximately HKD 162,072,000 for the year ended December 31, 2021, compared to HKD 233,342,000 in 2020, primarily related to deferred tax liabilities from adjustments to the fair value of goodwill and other intangible assets[33]. - The group recognized an impairment loss of approximately HKD 631,594,000 related to intangible assets for the Mao Hong cash-generating unit for the year ended December 31, 2021[58]. Business Development - The company successfully established a cloud platform for AI-enabled algorithm solutions in retail finance, marking a significant milestone in its business development[9]. - The company aims to strengthen product research and development and customer expansion to enhance product competitiveness and market share[10]. - The company reported a rapid growth in both customer base and revenue, achieving a cumulative revenue of over RMB 180 million in 2021[9]. - The company is focused on compliance and leveraging technology to optimize products and services, creating value for customers and shareholders[13]. - The company is committed to expanding its leading position in the digital transformation of the financial sector in China[10]. - The company has successfully constructed an independent SaaS/PaaS cloud platform for retail financial applications[77]. - The company has successfully established an independent SaaS/PaaS cloud platform for AI-enabled algorithm solutions in retail finance, signing contracts with leading banks and consumer finance companies in China, laying a stable performance foundation for 2022[81]. Investments and Acquisitions - The company completed the acquisition of LYGR Group on June 2, 2021, for approximately HKD 93,294,000, acquiring 7,172 shares at an issue price of HKD 1.35 per share[22]. - The company completed the acquisition of a 54.22% indirect interest in a domestic operating company on June 2, 2021[77]. - The group acquired a 23.33% stake in LYGR for approximately HKD 93,294,000, resulting in a total indirect ownership of 54.22% post-acquisition[60]. - The average revenue growth rate for LYGR is projected to be approximately 65.9% from fiscal year 2022 to 2026[61]. - The actual consolidated revenue for LYGR as of December 31, 2021, is approximately HKD 223,486,000[62]. Financial Position - As of December 31, 2021, the net asset value per share attributable to the owners of the company was approximately HKD 0.3, unchanged from 2020[18]. - As of December 31, 2021, non-current assets were approximately HKD 815,432,000, down from HKD 1,104,740,000 in 2020, including property, plant, and equipment of approximately HKD 169,033,000[45]. - The net value of current assets was approximately HKD 354,157,000 as of December 31, 2021, compared to HKD 75,361,000 in 2020[45]. - As of December 31, 2021, the total debt of the group was approximately HKD 752,950,000, an increase from HKD 695,749,000 in 2020[46]. - The group's debt-to-equity ratio was approximately 135.5% as of December 31, 2021, compared to 82.7% in 2020[47]. - The group’s net debt-to-equity ratio was approximately 52.8% as of December 31, 2021, compared to 14.0% in 2020[47]. - The current ratio, calculated as current assets divided by current liabilities, was approximately 1.6 times as of December 31, 2021, up from 1.1 times in 2020[47]. Research and Development - R&D expenses increased to approximately HKD 67,579,000 for the year ended December 31, 2021, compared to HKD 16,265,000 in 2020, primarily due to growth in big data service classification expenses starting in June 2021[33]. Corporate Governance - The board of directors consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors[181]. - The independent non-executive directors confirmed their independence in accordance with the listing rules, and the company believes all independent non-executive directors are independent[170]. - The company has complied with all corporate governance code provisions, except for specific provisions mentioned in the report[179]. - The board is responsible for formulating overall strategy and monitoring the group's performance, while management is tasked with day-to-day operations[190]. - The chairman and CEO roles are separated to ensure a balance of power and effective governance within the company[194]. - The company has implemented a board diversity policy, considering factors such as gender, age, cultural background, and professional experience to enhance performance[196]. - The company has arranged training for directors to update them on their roles and responsibilities, as well as changes in governance and regulatory requirements[192]. Shareholder Information - The company did not recommend a final dividend for the year ended December 31, 2021, consistent with 2020[19]. - The company has maintained sufficient reserves for future development while aiming to provide continuous returns to shareholders[99]. - The company has adopted a remuneration policy for employees based on merit, qualifications, and capabilities, while the remuneration for directors and senior management is determined by the remuneration committee based on operational performance and market statistics[172]. - The company has not purchased, sold, or redeemed any of its listed securities during the year, except for the issuance mentioned above[168]. - The total revenue from the top five customers accounted for approximately 33.4% of the group's total revenue, with the largest customer contributing about 7.4%[169]. - The group made donations amounting to approximately HKD 1,890,000 during the year, compared to HKD 2,647,000 in 2020[173]. Employee Information - The group employed 826 staff as of December 31, 2021, an increase from 794 in 2020[56].

Financial Performance - The consolidated revenue for the six months ended June 30, 2021, was approximately HKD 212,940,000, a decrease of about 41.5% compared to HKD 363,744,000 in 2020, primarily due to a significant reduction in third-party payment services[10]. - Revenue from big data services amounted to approximately HKD 18,218,000 for the six months ended June 30, 2021, compared to none in 2020[10]. - Revenue from third-party payment services was approximately HKD 3,254,000, down approximately 98.6% from HKD 230,614,000 in 2020[19]. - The loss attributable to owners of the company increased to approximately HKD 159,363,000 for the six months ended June 30, 2021, compared to HKD 36,172,000 in 2020[10]. - The net loss for the six months ended June 30, 2021, was HKD 516,841,000, significantly higher than the loss of HKD 19,751,000 in 2020[126]. - Basic and diluted loss per share for the period was HKD 23.15, compared to HKD 5.42 in the previous year[122]. - Gross profit for the same period was HKD 53,743,000, down 37.9% from HKD 86,479,000 in 2020[122]. - The group reported a profit from its associate company of approximately HKD 18,499,000 for the six months ended June 30, 2021, compared to HKD 3,963,000 in 2020, due to the termination of low-margin products[25]. Dividends and Shareholder Actions - The company did not declare or recommend an interim dividend for the six months ended June 30, 2021[12]. - The company did not declare or pay any dividends for the six months ended June 30, 2021, consistent with the same period in 2020[188]. - The company must seek shareholder approval if the total stock options granted exceed 1% of the issued shares[87]. Acquisitions and Investments - The acquisition of LYGR was completed on June 2, 2021, with the company purchasing 7,172 shares at an issue price of HKD 1.35 per share, resulting in a total issuance of 69,106,895 new ordinary shares[16]. - LYGR contributed approximately HKD 18,218,000 in revenue and approximately HKD 8,077,000 in profit for the big data services category for the six months ended June 30, 2021[16]. - The company completed the acquisition of an additional 23.33% interest in LYGR for approximately HKD 93,294,000, increasing its ownership to 54.22%[190]. - The group has invested approximately HKD 50.5 million in its new manufacturing facility in Vietnam as of June 30, 2021, with a total expected investment of VND 149,986 million[25]. Financial Position and Assets - The net asset value per share as of June 30, 2021, was HKD 0.3, unchanged from December 31, 2020[11]. - As of June 30, 2021, the group's total non-current assets amounted to approximately HKD 799,353,000, a decrease from HKD 1,104,740,000 as of December 31, 2020[41]. - Total assets as of June 30, 2021, were HKD 1,014,751,000, slightly up from HKD 998,439,000 at the end of 2020[134]. - The company's equity attributable to owners was HKD 232,215,000, down from HKD 379,437,000 at the end of 2020[134]. - The group’s total liabilities as of June 30, 2021, were approximately HKD 760,419,000, up from HKD 695,749,000 as of December 31, 2020[42]. - The debt-to-equity ratio was approximately 124.3% as of June 30, 2021, compared to 82.7% as of December 31, 2020[43]. - The current ratio was approximately 0.9 times as of June 30, 2021, down from 1.1 times as of December 31, 2020[43]. Operational Segments - The group reported total external revenue of HKD 212,940,000 for the six months ended June 30, 2021, with contributions from big data services (HKD 18,218,000), third-party payment services (HKD 3,254,000), and coatings (HKD 191,468,000)[159]. - The coatings segment generated sales of HKD 191,468,000, with liquid coatings contributing HKD 176,234,000 and powder coatings contributing HKD 15,234,000[159]. - The group has begun engaging in big data services since the step acquisition of Lian Yang Guo Rong Holdings Limited on June 2, 2021[155]. - The group’s revenue classification has been updated to reflect the new operational segments, including big data services, third-party payment services, and coatings[155]. Impairment and Losses - The group recognized an impairment loss of approximately HKD 631,594,000 for other intangible assets for the six months ended June 30, 2021, compared to no impairment in 2020[20]. - The company reported a significant impairment loss of HKD 631,594,000 on intangible assets during the period[122]. - The group incurred a loss of HKD 516,841,000 for the same period, with a significant loss in the third-party payment services segment amounting to HKD 657,993,000[159]. Cash Flow and Financing - The company reported a net cash outflow from operating activities of HKD 31,482,000 for the six months ended June 30, 2021, compared to HKD 160,157,000 for the same period in 2020[147]. - The company’s cash flow from financing activities showed a net inflow of HKD 27,018,000, compared to an outflow of HKD 84,197,000 in the previous year[147]. - The group’s financing costs decreased to approximately HKD 22,677,000 for the six months ended June 30, 2021, down from HKD 26,346,000 in 2020, mainly due to a reduction in the balance of acceptance bills[27]. Corporate Governance and Compliance - The company has complied with the corporate governance code as of June 30, 2021, except for a specific provision[112]. - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance for the six months ended June 30, 2021[121]. - The company is required to comply with the People's Bank of China regulations regarding reserve funds for third-party payment accounts[197].