Financial Performance - Revenue for the year ended December 31, 2021, was HKD 55.8 million, an increase of 8.1% from HKD 51.6 million in 2020[5] - Gross profit decreased by 29.7% to HKD 16.6 million from HKD 23.6 million in the previous year[5] - The annual loss for 2021 was HKD (75.8) million, representing a 57.6% increase from HKD (48.1) million in 2020[5] - The adjusted loss for the year was HKD (44.3) million, a 7.9% improvement from HKD (48.1) million in 2020[5] - Basic and diluted loss per share was HKD (6.3), a 57.5% increase from HKD (4.0) in the previous year[5] - Other income decreased by approximately HKD 7.2 million or about 33.6% to approximately HKD 14.2 million for the year ended December 31, 2021[35] - Selling expenses decreased by approximately HKD 4.8 million or about 42.5% to approximately HKD 6.5 million for the year ended December 31, 2021[37] - Administrative expenses increased by approximately HKD 3.6 million or about 9.1% to approximately HKD 43.3 million for the year ended December 31, 2021[38] - The group reported a loss of approximately HKD 75.8 million for the year ended December 31, 2021, an increase in loss of about HKD 27.7 million or about 57.6% compared to a loss of approximately HKD 48.1 million for the year ended December 31, 2020[39] Assets and Liabilities - Total assets as of December 31, 2021, increased by 11.4% to HKD 155.4 million from HKD 139.5 million in 2020[6] - Shareholders' equity decreased by 43.4% to HKD 64.5 million from HKD 113.9 million in the previous year[6] - The current ratio and quick ratio dropped by 77.1% to 1.1 from 4.8 in 2020[6] - The debt-to-asset ratio increased by 178.3% to 6.4% from 2.3% in the previous year[6] - The net current assets as of December 31, 2021, were approximately HKD 6.8 million, a significant decrease from HKD 72.7 million as of December 31, 2020[52] Revenue Segmentation - The ticket distribution segment's revenue decreased by approximately HKD 14.0 million or about 65.4% to approximately HKD 7.4 million for the year ended December 31, 2021, accounting for about 13.3% of total revenue[23] - Revenue from the travel business process management segment decreased by approximately HKD 2.1 million or about 7.5% to approximately HKD 26.0 million for the year ended December 31, 2021, representing about 46.7% of total revenue[24] - The newly developed other business process management segment generated approximately HKD 22.3 million in revenue, accounting for about 40.0% of total revenue for the year ended December 31, 2021[16] Cost Management - The group has implemented cost control measures, including salary reductions for directors and senior management, to improve cash flow and operational efficiency[19] - The group maintained a strong liquidity position with total employee costs of approximately HKD 51.6 million for the year ended December 31, 2021, compared to HKD 53.7 million for the previous year[58] Governance and Management - The company is committed to good corporate governance practices, adhering to all applicable code provisions except for one regarding the separation of the roles of Chairman and CEO[101] - The board of directors is responsible for guiding and overseeing the company's affairs to promote its success[102] - The company has a diverse board with members holding various positions in different committees, enhancing its governance structure[98] - The company has a dedicated team for financial planning and treasury management, ensuring robust financial oversight[93] - The company has a strong management team, including a CFO with over 25 years of experience in finance and accounting[93] Risk Management - The company has established policies and procedures for risk management and internal control systems[125] - The board is responsible for assessing the nature and extent of risks the company is willing to take to achieve its strategic objectives[125] - The company has identified several key risks, including adverse weather, natural disasters, and economic conditions that may affect financial performance and business outlook[151] Shareholder Relations - The company is committed to providing regular communication and reasonable disclosure of information to shareholders, including annual and interim reports[143] - The board will consider future dividend distributions based on the company's dividend policy at an appropriate time[157] - The company has maintained good relationships with stakeholders, including employees, customers, and suppliers, with no significant disputes reported during the year[156] Employee and Director Information - As of December 31, 2021, the group had a total of 143 employees, an increase from 127 employees as of December 31, 2020[58] - The total remuneration for senior management, including salaries, allowances, discretionary bonuses, and retirement plan contributions, amounted to approximately HKD 3.9 million for the year ended December 31, 2021[107] - All executive directors have entered into three-year service contracts, which can be terminated with three months' written notice[168] Environmental and Social Responsibility - The company has implemented recycling programs for consumables to minimize environmental impact and is committed to improving its environmental, social, and governance policies[155]

Financial Performance - Total revenue decreased by approximately 66.8% to HKD 13.3 million for the six months ended June 30, 2021, compared to HKD 40.1 million for the same period in 2020[4] - Gross profit fell by approximately 82.1% to HKD 4.4 million, down from HKD 24.6 million in the previous year[4] - The net loss for the period was HKD 33.1 million, a significant decline of 553.4% compared to a profit of HKD 7.3 million in the prior year[4] - Basic and diluted loss per share was HKD (2.8), compared to earnings of HKD 0.6 per share in the same period last year, representing a decrease of 566.7%[4] - The overall gross profit dropped from approximately HKD 24.6 million to approximately HKD 4.4 million, a decrease of about 82.1%[23] - The overall gross margin declined from approximately 61.3% to approximately 32.9%, a drop of about 28.4%[24] - The group reported a net loss of approximately HKD 33.1 million for the six months ended June 30, 2021, compared to a net profit of approximately HKD 7.3 million for the same period in 2020, representing a significant reversal[31] - Revenue for the six months ended June 30, 2021, was HKD 13,268 thousand, a decrease of 66.9% compared to HKD 40,097 thousand for the same period in 2020[77] - Gross profit for the same period was HKD 4,365 thousand, down 82.2% from HKD 24,566 thousand in 2020[77] - The company reported a net loss attributable to owners of HKD 33,086 thousand for the six months ended June 30, 2021, compared to a profit of HKD 7,292 thousand in 2020[77] Assets and Liabilities - Total assets as of June 30, 2021, were HKD 133.4 million, a decrease of 4.4% from HKD 139.5 million as of December 31, 2020[4] - Total liabilities increased to HKD 51,305 thousand as of June 30, 2021, compared to HKD 25,595 thousand at the end of 2020[83] - The company's equity attributable to owners decreased to HKD 82,123 thousand as of June 30, 2021, from HKD 113,865 thousand at the end of 2020[83] - The group’s net current assets decreased to approximately HKD 40.1 million as of June 30, 2021, from approximately HKD 72.7 million as of December 31, 2020[35] - The debt-to-asset ratio increased to 5.1% from 2.3%[4] - The debt-to-equity ratio increased to approximately 5.1% as of June 30, 2021, from about 2.3% as of December 31, 2020, primarily due to an increase in government loans[34] Revenue Segments - The ticket distribution segment's revenue decreased by approximately 85.1% to HKD 3.0 million, down from HKD 20.1 million in the previous year[11] - Travel business process management revenue decreased by approximately HKD 8.3 million or about 44.6%, from approximately HKD 18.6 million to approximately HKD 10.3 million[20] - Ticket distribution revenue fell by approximately HKD 17.1 million or about 85.1%, from approximately HKD 20.1 million to approximately HKD 3.0 million for the same periods[19] - Revenue from external customers for the ticket distribution segment was HKD 2,989 thousand, while the travel business process management segment generated HKD 10,274 thousand, totaling HKD 13,268 thousand in revenue[107] Cash Flow and Financing - Cash generated from operating activities was approximately HKD 3.4 million for the six months ended June 30, 2021, compared to cash used of approximately HKD 14.7 million for the same period in 2020[33] - The group's cash and cash equivalents increased by approximately 35.2% to approximately HKD 40.7 million as of June 30, 2021, from approximately HKD 30.1 million as of December 31, 2020[33] - Operating cash flow for the six months ended June 30, 2021, was HKD 3,534 thousand, a significant improvement from a cash outflow of HKD 19,821 thousand in the same period of 2020[89] - Net cash generated from investing activities was HKD 5,879 thousand, compared to only HKD 44 thousand in the prior year, indicating a strong recovery in investment performance[89] - The company received government loan proceeds of HKD 1,557 thousand, contributing to its financing activities[89] Cost Management - Selling expenses decreased by approximately HKD 2.3 million or about 37.7%, from approximately HKD 6.1 million to approximately HKD 3.8 million[29] - Administrative expenses slightly decreased by approximately HKD 0.7 million or about 3.2%, from approximately HKD 21.9 million to approximately HKD 21.2 million[30] - Total employee costs for the six months ended June 30, 2021, were approximately HKD 21.2 million, down from approximately HKD 29.4 million for the same period in 2020[43] - The company recognized an expected credit loss provision of HKD (25,871) thousand during the period, indicating significant financial challenges[77] Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the deviation regarding the roles of the chairman and CEO being held by the same individual[61] - The audit committee reviewed the interim financial results for the six months ended June 30, 2021, and confirmed that they were prepared in accordance with applicable accounting standards[64] - The company continues to operate under the regulations of various industry bodies, ensuring compliance with operational standards[93] Shareholder Information - The company did not declare an interim dividend for the six months ending June 30, 2021[58] - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended June 30, 2021[44] - As of June 30, 2021, the company had a total of 900,000,000 shares held by Tomorrow Education Holdings Limited, representing 75.0% of the company's equity[71] - The company’s board members and key executives held significant interests in the company, with Ms. Zhu Bi Fang owning 540,000,000 shares (45.0%), Ms. Zhu Shu Fang owning 270,000,000 shares (22.5%), and Dr. Zhu Guo Jun owning 90,000,000 shares (7.5%) as of June 30, 2021[66]

Financial Performance - Total revenue for the year ended December 31, 2020, decreased by approximately 54.0% to HKD 51.6 million from HKD 112.1 million in 2019[4] - Gross profit for the same period fell by about 70.6% to HKD 23.6 million, down from HKD 80.3 million in 2019[4] - The company reported a net loss of HKD 48.1 million for 2020, compared to a profit of HKD 10.7 million in 2019, representing a decline of 549.5%[4] - Earnings per share (loss) for 2020 was HKD (4.0), a decrease of 544.4% from HKD 0.9 in 2019[4] - Total assets as of December 31, 2020, decreased by 44.8% to HKD 139.5 million from HKD 252.6 million in 2019[4] - Shareholders' equity declined by 31.8% to HKD 113.9 million from HKD 167.1 million in 2019[4] - Revenue decreased by approximately 54.0% from about HKD 112.1 million in 2019 to approximately HKD 51.6 million in 2020, primarily due to declines in ticket distribution and travel products and services segments[20] - The company reported a loss of approximately HKD 48.1 million for the year ended December 31, 2020, a decrease of about HKD 58.8 million or approximately 549.5% from a profit of HKD 10.7 million for the year ended December 31, 2019[34] - Gross profit decreased by approximately HKD 56.7 million or about 70.6% to approximately HKD 23.6 million for the year ended December 31, 2020, compared to approximately HKD 80.3 million for the previous year[34] Revenue Segments - The ticket distribution segment's revenue dropped by approximately 70.1% to HKD 21.4 million, accounting for about 41.4% of total revenue[10] - Revenue from travel business process management increased by approximately 8.5% to HKD 28.1 million, representing about 54.5% of total revenue[13] - Ticket distribution segment revenue fell by approximately 70.1% from about HKD 71.6 million in 2019 to approximately HKD 21.4 million in 2020, attributed to COVID-19 and travel restrictions[21] - Travel products and services segment revenue decreased by approximately 85.6% from about HKD 14.6 million in 2019 to approximately HKD 2.1 million in 2020, mainly due to a drop in tour sales[23] - Travel business process management segment revenue increased by approximately 8.5% from about HKD 25.9 million in 2019 to approximately HKD 28.1 million in 2020, due to an increase in transaction volume and customer numbers[22] Cost Management - The company implemented cost control measures including salary reductions for directors and senior management, and applied for the Canadian Emergency Wage Subsidy[16] - Selling expenses decreased by approximately 35.8% from about HKD 17.6 million in 2019 to approximately HKD 11.3 million in 2020, mainly due to reduced advertising and promotion expenses[32] - Administrative expenses decreased by approximately 15.9% from about HKD 47.2 million in 2019 to approximately HKD 39.7 million in 2020, primarily due to salary reductions implemented in response to COVID-19[33] Cash Flow and Liquidity - The net cash used in operating activities was approximately HKD 47.7 million for the year ended December 31, 2020, compared to approximately HKD 35.5 million for the year ended December 31, 2019[37] - As of December 31, 2020, the company's cash and cash equivalents were approximately HKD 30.1 million, a decrease of about 58.0% from approximately HKD 71.6 million as of December 31, 2019[37] - As of December 31, 2020, the company's net current assets were HKD 72.7 million, down from HKD 122.4 million as of December 31, 2019[38] Corporate Governance - The company has adopted and complied with all applicable code provisions of the Corporate Governance Code as of December 31, 2020[72] - The board consists of a balanced mix of executive, non-executive, and independent non-executive directors to ensure effective independent judgment[74] - The company emphasizes the importance of good corporate governance elements in its management structure and internal control procedures[72] - The board is responsible for guiding and supervising the company’s affairs to promote its success and has delegated day-to-day operations to the management team[73] - The company has a commitment to fulfilling its responsibilities to shareholders and enhancing shareholder value through good corporate governance[72] Risk Management - The company has established a risk management and internal control system, with the board responsible for assessing the nature and extent of risks the company is willing to take to achieve its strategic objectives[97] - The risk management procedures are reviewed at least annually, ensuring that identified risks are managed within acceptable levels[99] - The board believes that the current risk management and internal control systems are adequate and effective for the company's operational environment[100] Future Outlook - The company has set a future outlook with a revenue guidance of $200 million for the next quarter, indicating a 33% growth expectation[3] - New product launches are expected to contribute an additional $30 million in revenue over the next fiscal year[4] - The company is investing in new technology development, allocating $10 million towards R&D initiatives[5] - Market expansion plans include entering three new international markets by the end of the fiscal year[6] - The company is considering strategic acquisitions to enhance its market position, with a budget of $50 million earmarked for potential deals[7] Shareholder Information - The company did not recommend a final dividend for the year ended December 31, 2020, compared to HKD 6,480,000 in 2019, to retain cash for operational needs[15] - The company’s financial performance and liquidity are considered when determining dividend payments, ensuring that operational needs are met[116] - As of December 31, 2020, the company's distributable reserves amounted to approximately HKD 42.0 million, including share premium and retained earnings[134] Stakeholder Relations - The company maintains good relationships with stakeholders, including employees, customers, and suppliers, with no significant disputes reported for the year ended December 31, 2020[128] - The company has established a database for direct communication with regular customers to build long-term trust[128] Compliance and Regulations - The board of directors emphasizes the importance of compliance with applicable laws and regulations, reporting no significant violations for the year ended December 31, 2020[126] - The company has a policy of regular communication and reasonable disclosure of information to shareholders, including sending annual and interim reports[115]

CTEH CTEH INC. 加達控股有限公司 於加拿大安大略省註冊成立及於 開曼群島存續的有限公司 股份代號：1620 中期報告 2020 | --- | --- | |------------------------------|-------| | | | | 財務摘要 | | | 公司資料 | | | 管理層討論與分析 | | | 企業管治及其他資料 | | | 簡明綜合損益及其他全面收益表 | | | 簡明綜合財務狀況表 | | | 簡明綜合權益變動表 | | | 簡明綜合現金流量表 | | | 簡明綜合財務資料附註 | | 2 3 4 11 15 16 18 19 20 中 期 報 告 2020 財務摘要 | --- | --- | --- | --- | |----------------------------|---------------------------------------|---------------------------------|----------------| | | 截至 6 月 30 \n2020 年 百萬港元 | 日止六個月 \n2019 年 百萬港元 | ...

Financial Performance - Total revenue decreased by 24.9% to approximately HKD 112.1 million for the year ended December 31, 2019, compared to HKD 149.2 million in 2018[11] - Gross profit fell by 22.6% to HKD 80.3 million, resulting in a gross margin increase from approximately 69.5% in 2018 to 71.6% in 2019[11] - Adjusted annual profit decreased by 56.1% to approximately HKD 10.7 million, down from HKD 24.4 million in the previous year[4] - Revenue decreased by approximately 37.1 million HKD or about 24.9% from approximately 149.2 million HKD for the year ended December 31, 2018, to approximately 112.1 million HKD for the year ended December 31, 2019[22] - Ticket distribution revenue fell by approximately 23.0 million HKD or about 24.3% from approximately 94.6 million HKD to approximately 71.6 million HKD due to reduced international travel between North America and Asia[23] - Travel products and services revenue decreased by approximately 14.4 million HKD or about 49.7% from approximately 29.0 million HKD to approximately 14.6 million HKD, primarily due to a decline in tour sales[25] - The gross profit decreased by approximately 23.4 million HKD or about 22.6% from approximately 103.7 million HKD to approximately 80.3 million HKD, mainly due to a decline in gross profit from the ticket distribution segment[27] - The annual profit decreased by approximately 0.4 million HKD or about 3.6% from approximately 11.1 million HKD to approximately 10.7 million HKD[35] Assets and Equity - Total assets decreased by 6.1% to HKD 252.6 million as of December 31, 2019, compared to HKD 269.1 million in 2018[5] - Shareholders' equity increased by 3.9% to HKD 167.1 million from HKD 160.9 million in the previous year[5] - As of December 31, 2019, the group's cash and cash equivalents decreased by approximately 48.2% to about HKD 71.6 million, down from HKD 138.3 million in 2018[36] - The group's net current assets as of December 31, 2019, were HKD 122.4 million, compared to HKD 120.9 million as of December 31, 2018[39] Dividends - Proposed final dividend per share increased by 17.4% to HKD 0.54 from HKD 0.46 in 2018[4] - The company declared a final dividend of 0.54 HKD per share for the year ended December 31, 2019, subject to shareholder approval[17] - The company reported a final dividend of HKD 0.54 per share for the year ended December 31, 2019, with a total expected payout of HKD 6,480,000 based on 1,200,000,000 shares issued[131] Operational Developments - The company expanded its regional office in Canada, hiring 34 new employees to increase business volume in ticket distribution and travel business process management[11] - The company plans to utilize the remaining proceeds from its IPO for expanding ticket distribution and enhancing IT infrastructure in 2020[51] Management and Governance - The company has adopted and complied with all applicable code provisions of the Corporate Governance Code as of December 31, 2019[74] - The board consists of a balanced mix of executive, non-executive, and independent non-executive directors, ensuring strong independent judgment[76] - The company has three independent non-executive directors, meeting the requirement that they must represent at least one-third of the board[80] - The board is responsible for guiding and supervising the company's affairs to promote its success[75] - The company emphasizes good corporate governance to enhance shareholder value[74] - The board held four meetings during the year ended December 31, 2019, reviewing the unaudited consolidated financial performance for the six months ended June 30, 2019, and the audited consolidated financial performance for the year ended December 31, 2018[86] Risk Management - The company has established risk management and internal control policies, with the board responsible for assessing the nature and extent of risks undertaken to achieve strategic goals[99] - The company updated its risk response mechanisms for identified major risks to ensure the effectiveness of risk mitigation procedures[100] - The risk identification process is conducted at least annually, with timely reporting of any risk activities to management[101] - The board believes that the risk management and internal control systems are adequate and effective for the current business environment[102] Employee Costs - Total employee costs for the year ended December 31, 2019, amounted to HKD 56.0 million, an increase from HKD 52.1 million in the previous year[42] Related Party Transactions - The company confirmed that the ongoing related party transactions are conducted on normal commercial terms and are in the overall interest of the company and its shareholders[179] - The auditor provided an unqualified opinion regarding the ongoing related party transactions, confirming they were approved by the board and within the set annual limits[183] Environmental Commitment - The company is committed to environmental sustainability and has implemented recycling programs for consumables to minimize its operational impact on the environment[129]

CTEH CTEH INC. 加達控股有限公司 於加拿大安大略省註冊成立及於 開曼群島存續的有限公司 股份代號：1620 年度報告 2018 | --- | --- | |-------|----------------------------| | | | | | | | | | | | | | | | | | | | | 目錄 財務摘要 公司資料 | | | 董事長報告書 | | | 管理層討論及分析 | | | 董事、監事及高級管理層簡歷 | | | 企業管治報告 | | | 董事會報告書 | | | 獨立核數師報告書 | | | 綜合全面收益表 | | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 綜合現金流量表 | | | 綜合財務報表附註 | 2 3 4 8 13 17 27 41 46 47 49 50 51 財務概要 110 年 度 報 告 2018 財務摘要 | --- | --- | --- | --- | |----------------------------|--------------------------------------|---------------- ...