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，並表明概不對因本 公告全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承 擔任何責任。 Platt Nera International Limited （於開曼群島註冊成立的有限公司） （股份代號：1949） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 的 中 期 業 績 公 告 摘要 • 本集團截至二零二三年六月三十日止六個月（「二零二三年上半年」） 的 收 益 為 約199.4百 萬 泰 銖，較 本 集 團 截 至 二 零 二 二 年 六 月 三 十 日 止 六 個 月（「二 零 二 二 年 上 半 年」）的 收 益 約167.7百 萬 泰 銖 增 加 約 18.9%，主 要 源 於 二 零 二 三 年 上 半 年 的 一 個 新 項 目，惟 被 現 金 存 款 機服務合約及PEA項目安裝階段完成所抵銷。 • 本 集 團 二 零 二 三 年 上 半 年 的 純 利 為 約0.9百 萬 泰 銖，而 二 零 二 二 年 上半年則為淨虧損約16.4百萬泰銖。 ...

Financial Performance - Total revenue for the fiscal year ended December 31, 2022, decreased by approximately 20.1% or 67.9 million Thai Baht to about 269.6 million Thai Baht compared to 337.5 million Thai Baht in the previous year[15]. - The gross loss for the fiscal year 2022 was approximately (35.2) million Thai Baht, representing a gross margin of (13.1)%, compared to a gross profit of 37.3 million Thai Baht or 11.0% in the previous year[16]. - The company reported a loss attributable to shareholders of (84.0) million Thai Baht for the fiscal year 2022, compared to a loss of (29.3) million Thai Baht in 2021[2]. - The net loss for the fiscal year 2022 was approximately 84.0 million THB, compared to a net loss of about 29.3 million THB in fiscal year 2021[22]. - Other income for the fiscal year 2022 was approximately 42.1 million THB, a decrease of about 14.5 million THB compared to the previous year, primarily due to a reduction in finance lease interest income of approximately 8.2 million THB[17]. - The company experienced a decrease in revenue from the cash deposit machine project by approximately 48.1 million Thai Baht due to contract reductions[15]. Assets and Liabilities - The total assets as of December 31, 2022, were 1,680.3 million Thai Baht, a decrease from 1,930.9 million Thai Baht in 2021[3]. - The total liabilities as of December 31, 2022, were 1,294.1 million Thai Baht, down from 1,460.7 million Thai Baht in 2021[3]. - As of December 31, 2022, current assets were approximately 154.1 million THB, a decrease from approximately 379.7 million THB as of December 31, 2021, primarily due to reclassification of contract assets and other receivables[23]. - Current liabilities as of December 31, 2022, were approximately 679.3 million THB, a slight decrease from approximately 682.7 million THB as of December 31, 2021[26]. - Non-current assets as of December 31, 2022, were approximately 846.9 million THB, down from approximately 868.5 million THB as of December 31, 2021, mainly due to reductions in non-current trade receivables[27]. - The debt-to-equity ratio as of December 31, 2022, was approximately 101.9%, compared to 54.6% as of December 31, 2021[29]. - Shareholders' equity decreased from approximately 470.2 million THB as of December 31, 2021, to approximately 386.2 million THB as of December 31, 2022, due to the net loss incurred during the fiscal year[30]. Management and Governance - The company has over 26 years of experience in the IT industry, founded in October 2004 by Mr. Prapan Asvaplungprohm[40]. - The management team is composed of individuals with extensive backgrounds in engineering, finance, and IT, ensuring a well-rounded leadership[40][41][47][49][50]. - The company emphasizes the importance of independent judgment in significant transactions, as highlighted by the roles of its independent directors[42][45][46]. - The board consists of two executive directors and three independent non-executive directors, maintaining a balance of skills and experience necessary for effective leadership and independent decision-making[67]. - The company has established a mechanism for regular review of its corporate governance structure and practices to ensure they meet stakeholder expectations and regulatory requirements[60]. - The board will continue to assess the effectiveness of its governance structure to determine if the roles of Chairman and CEO should be separated in the future[70]. Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules, ensuring compliance with all applicable provisions during the year[59]. - The board believes that the current arrangement of having the same individual serve as both Chairman and CEO is in the best interest of the company and its shareholders, despite deviating from the Corporate Governance Code[70]. - All independent non-executive directors have submitted written confirmations of their independence, and the company believes they all meet the independence criteria[73]. - The board is responsible for overseeing the company's business, strategic decisions, and performance, ensuring effective internal controls and risk management systems are in place[76]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, all comprising a majority of independent non-executive directors[88]. Shareholder Relations and Dividends - The company aims to maximize shareholder returns through dividend payments when financially reasonable[143]. - The board will consider various factors, including the group's financial status and market conditions, when deciding on dividend payments[118]. - The board does not recommend declaring a dividend for the year ended December 31, 2022 (2021: zero)[121]. - The company emphasizes effective communication with shareholders to strengthen investor relations and understanding of its business performance and strategies[131]. Risks and Financial Health - The company is subject to significant financial risks due to its current liabilities exceeding cash reserves[198]. - The financial statements reflect a substantial uncertainty regarding the group's ability to continue as a going concern[198]. - The audit opinion did not include any modifications regarding the going concern uncertainty[198]. - The report highlights the need for stakeholders to be aware of the financial challenges faced by the group[198]. Projects and Future Outlook - The company completed several significant projects in 2022, including the Passbook project and CCTV project, despite facing delays in the cash deposit machine project[10]. - The company remains cautiously optimistic about its prospects for 2023, considering global inflation pressures and high interest rates[13]. - The government sector, a major source of new projects for the company, did not show significant recovery in 2022, which may impact the company into 2023[10]. - The company is focused on securing new projects and delivering existing ones, maintaining confidence in its long-term outlook[14].

Financial Performance - Total revenue for the first half of 2022 was approximately 167.7 million THB, an increase of about 15.5% or 22.5 million THB compared to 145.3 million THB in the first half of 2021[20]. - Gross profit for the first half of 2022 was approximately 21.7 million THB, representing a gross margin of 13.0%, up from 15.1 million THB or 10.4% in the same period last year[21]. - Other income for the first half of 2022 was approximately 22.5 million THB, a decrease of about 7.0 million THB compared to the previous year[22]. - The net loss for the first half of 2022 was approximately 16.4 million THB, compared to a net loss of 18.3 million THB in the first half of 2021[28]. - Revenue for the six months ended June 30, 2022, was THB 167,744,000, an increase of 15.5% compared to THB 145,294,000 for the same period in 2021[75]. - Gross profit for the same period was THB 21,740,000, up from THB 15,069,000, reflecting a gross margin improvement[75]. - The company reported a loss before tax of THB 16,417,000, an improvement from a loss of THB 18,325,000 in the prior year[75]. - Basic and diluted loss per share for the period was THB 4.10, compared to THB 4.58 in the same period last year[75]. - The company incurred a loss of THB 16,417 thousand during the six months ended June 30, 2022, compared to a loss of THB 18,325 thousand in the same period of 2021, indicating a reduction in losses of approximately 10.4%[85]. Expenses and Costs - Selling and distribution expenses for the first half of 2022 were approximately 8.5 million THB, an increase of 2.4 million THB from the previous year[23]. - Administrative expenses decreased by approximately 9.0% or 2.4 million THB to about 24.4 million THB in the first half of 2022[26]. - Financial costs for the first half of 2022 were approximately 27.0 million THB, a decrease of about 3.0 million THB compared to the previous year[27]. - The total cost of services provided for the six months ended June 30, 2022, was 146,004 thousand THB, up from 123,707 thousand THB in the same period of 2021, representing an increase of approximately 18.0%[105]. - The total cost of leased property improvements and equipment purchased for the six months ended June 30, 2022, was approximately 194,000 THB, significantly higher than 16,000 THB for the same period in 2021[114]. Assets and Liabilities - As of June 30, 2022, the group's current assets net amount was approximately 384.5 million THB, an increase from 379.7 million THB as of December 31, 2021[29]. - Current assets decreased from approximately 1,062.4 million THB on December 31, 2021, to about 1,060.1 million THB on June 30, 2022, primarily due to a reduction in receivables and cash equivalents by approximately 79.1 million THB[30]. - Current liabilities decreased to approximately 675.6 million THB as of June 30, 2022, from about 682.7 million THB on December 31, 2021, mainly due to a reduction in trade payables[32]. - Non-current assets recorded a decrease to approximately 728.7 million THB as of June 30, 2022, down from 868.5 million THB as of December 31, 2021[33]. - Non-current liabilities decreased to approximately 659.4 million THB as of June 30, 2022, from about 777.9 million THB on December 31, 2021[34]. - The group's debt-to-equity ratio was approximately 80.2% as of June 30, 2022, compared to 54.6% on December 31, 2021[38]. - The total interest-bearing bank borrowings due within one year amounted to approximately 258.7 million THB, an increase from about 130.4 million THB on December 31, 2021[35]. - Total liabilities decreased from THB 1,460,665 thousand as of December 31, 2021, to THB 1,335,015 thousand as of June 30, 2022, a reduction of about 8.6%[83]. Shareholder Information - Major shareholder Pynk holds 282,000,000 shares, representing 70.5% of the company's equity[61]. - Asvaplungprohm, Archadechopon, and Talomsin collectively control Pynk, with ownership stakes of 96%, 2%, and 2% respectively[61]. - The company’s issued and fully paid ordinary shares remained at 400,000,000 shares with a par value of HKD 0.01 as of June 30, 2022[147]. Cash Flow and Investments - The company reported a net cash outflow from operating activities of THB (133,312) thousand for the six months ended June 30, 2022, compared to THB (137,432) thousand in the same period of 2021, showing an improvement of approximately 3.1%[87]. - The company’s cash and cash equivalents at the end of the period were THB 50,547 thousand, compared to THB 27,912 thousand at the end of the same period last year, reflecting an increase of approximately 81.1%[89]. - The company’s cash and bank balances (excluding fixed deposits) were THB 52,635,000 as of June 30, 2022, reflecting a decrease of 15.3% compared to THB 62,140,000 as of December 31, 2021[135]. - The company had no significant investments or capital asset plans as of June 30, 2022[49]. Operational Developments - The company remains cautiously optimistic about its prospects for 2022 as Thailand prepares to reopen its economy[16]. - The company has expanded its customer base to rural areas in Thailand through new ATM projects[15]. - The company continues to focus on securing new projects and delivering existing ones, maintaining confidence in its long-term outlook[17]. - The company is focused on providing banking services to farmers in rural Thailand through its partnership with BAAC[159]. - The company has signed a service agreement for the cash deposit machine project, which includes developing operational software within 10 years[159]. - The company plans to install 2,900 ATMs for Client F between 2020 and 2025, providing related operation and maintenance services[182]. - The company will set up 790 passbook machines for Client F during the same five-year period, also offering operational support and maintenance[187]. Governance and Compliance - The company has established an audit committee responsible for reviewing financial reporting processes and internal controls[70]. - There were no reported instances of directors or their associates engaging in competing businesses as of June 30, 2022[69]. - The company did not declare an interim dividend for the six months ended June 30, 2022, consistent with the previous year[112]. - The company approved the interim financial information on August 26, 2022[157].

Financial Performance - Total revenue for the first half of 2021 decreased by approximately 58.1% to THB 145.3 million from THB 347.1 million in the same period of 2020[12] - The gross profit for the first half of 2021 was approximately THB 15.1 million, representing a gross margin of 10.4%, compared to a gross loss of THB 23.5 million in the same period of 2020[13] - The net loss for the first half of 2021 was approximately THB 18.3 million, an improvement from a net loss of THB 54.7 million in the same period of 2020[19] - Revenue for the six months ended June 30, 2021, was THB 145,294, a decrease of 58% compared to THB 347,123 in 2020[63] - Gross profit for the same period was THB 15,069, compared to a gross loss of THB 23,539 in 2020[63] - The company reported a net loss attributable to shareholders of THB 18,325, improving from a loss of THB 54,741 in the previous year[63] - The company reported a pre-tax loss of THB 16,110,000 for the six months ended June 30, 2021, compared to a loss of THB 16,969,000 in the same period of 2020[99] Income and Expenses - Other income increased by approximately THB 21.2 million to THB 29.5 million, primarily due to financial leasing interest income of about THB 26.1 million[14] - Sales and distribution expenses increased by THB 1.3 million to approximately THB 6.1 million, mainly due to sales commissions and employee salaries[16] - Administrative expenses decreased by approximately 7.6% to THB 26.8 million from THB 29.0 million in the same period of 2020[17] - Financial costs increased by approximately THB 24.3 million to THB 30.0 million, primarily due to interest expenses from financial leasing[18] Assets and Liabilities - As of June 30, 2021, non-current trade receivables amounted to approximately 710.8 million THB, an increase from 600.7 million THB as of December 31, 2020[21] - Current trade receivables were approximately 438.4 million THB, up from 219.3 million THB as of December 31, 2020, primarily related to customer F's ATM project[21] - The group's total interest-bearing bank borrowings due within one year was approximately 157.4 million THB, a decrease from 178.4 million THB as of December 31, 2020[23] - The group's debt-to-equity ratio as of June 30, 2021, was approximately 51.3%, compared to 47.5% as of December 31, 2020[25] - Cash and cash equivalents were approximately 33.3 million THB, down from about 186.2 million THB as of December 31, 2020[25] - The company’s total liabilities increased to THB 1,443,982 from THB 1,170,109, representing a rise of 23.3%[68] - Total assets less current liabilities amounted to THB 1,326,168, compared to THB 1,206,074 in the previous year, reflecting an increase of 9.9%[68] Project and Operational Challenges - The company faced significant challenges in project completion and acquisition of new projects due to the ongoing COVID-19 pandemic[10] - The BAAC third phase project and new cash deposit machine project deadlines are expected to be delayed until 2022[10] - Despite the challenges, the company remains confident in its long-term prospects due to its core team and competitive advantages[10] Corporate Governance - The company has adopted corporate governance codes to enhance shareholder value and transparency[55] - The audit committee, consisting of three independent non-executive directors, oversees financial reporting and internal controls[59] - The company confirms compliance with the standard code of conduct and has not identified any violations by employees[57] - No directors or major shareholders have interests in competing businesses as of June 30, 2021[58] - The company has maintained high standards of corporate governance to protect shareholder interests[55] - The audit committee reviewed the unaudited consolidated financial statements for the six months ending June 30, 2021, and found them compliant with relevant accounting standards[61] - Asvaplungprohm serves as both the chairman and CEO, a role deemed beneficial for the company's strategic development[55] - The company has established a written guideline for employees regarding insider trading compliance[57] Shareholder Information - Asvaplungprohm holds 75% of the company's shares, with a total of 300,000,000 shares[50] - Talomsin and Archadechopon hold 2% each of Pynk, which is controlled by Asvaplungprohm[50] - No interim dividend was declared for the six months ended June 30, 2021[40] Market and Strategic Initiatives - The company is focused on expanding its market presence in Thailand, particularly through partnerships with state-owned enterprises like the Provincial Electricity Authority (PEA)[182] - The company aims to enhance its product offerings and technological capabilities to better serve its clients[186] - The company is actively exploring new strategies for growth and market expansion in the Southeast Asian region[185] Joint Ventures and Investments - The group entered into a joint venture agreement on June 1, 2021, to invest and develop cash deposit machine projects in Thailand, with equity interests of 44%, 9%, and 47% held by Platt Nera, Mr. Prapan Asvaplungprohm, and Cash Machine Capital Co., Ltd., respectively[27] - The company invested THB 22,000 in associated companies during the period[73] - The company invested 22.0 million THB in a joint venture for a cash deposit machine project in Thailand[105] Cash Flow and Financial Position - Operating cash flow for the six months was THB (137,432), an improvement from THB (306,288) in 2020[73] - The cash and cash equivalents at the end of the period were THB 27,912,000 compared to THB 29,245,000 in the previous period[80] - The company had cash and cash equivalents of 33,327 THB as of June 30, 2021, down from 186,167 THB as of December 31, 2020[126]

2 platt nera PLATT NERA INTERNATIONAL LIMITED (於開曼群島註冊成立的有限公司) 股份代號：1949 | --- | --- | --- | --- | |-------|-------|--------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 目錄 | | | | | 財務摘要 | 2 | | | | | | | | | 公司資料 | 3 | | | | | | | | | 致股東的信函 | 5 | | | | | | | | | 管理層討論與分析 | 6 | | | | 董事及高級管理層 | 12 | | | | 企業管治報告 | 15 | | | | 董事會報告 | 28 | | | | 獨立核數師報告 | 39 | | | | 綜合損益及其他全面收益表 | 46 | | | | 綜合財務狀況表 | 47 | | | | 綜合權益變動表 | 49 | | | | 綜合現金流量表 ...

Revenue Performance - Total revenue for the first half of 2020 increased by approximately 90.1% to about 347.1 million THB, compared to approximately 182.4 million THB in the first half of 2019[15] - The increase in revenue was primarily driven by IT integration solutions and services for BAAC, contributing approximately 92.9 million THB, and PEA smart street lighting and unmanned projects in central and southern Thailand, contributing approximately 114.1 million THB[15] - The company's revenue for the six months ended June 30, 2020, was THB 347,123,000, a significant increase from THB 182,416,000 in the same period of 2019, representing an increase of approximately 90.5%[59] - Revenue from IT integration solutions was THB 131,409 for the six months ended June 30, 2020, up from THB 79,089 in the same period of 2019[91] - Revenue from IT support services increased to THB 215,714, compared to THB 103,327 in the prior year[91] - Total customer contract revenue amounted to THB 347,123, a significant increase from THB 182,416 in the previous year[92] Financial Losses and Challenges - The company recorded a net loss of approximately 54.7 million THB in the first half of 2020, compared to a profit of about 3.7 million THB in the first half of 2019[22] - The gross profit for the first half of 2020 was a loss of THB 23,539,000, compared to a profit of THB 76,684,000 in the same period of 2019, indicating a decline in profitability[59] - The company's pre-tax loss for the period was 54,741 thousand THB, compared to a profit of 3,715 thousand THB in the same period last year[113] - The basic and diluted loss per share for the first half of 2020 was THB (0.14), compared to earnings of THB 0.01 per share in the same period of 2019[59] Economic Impact and Operational Adjustments - The economic impact of COVID-19 led to a 12.2% year-on-year contraction in Thailand's economy during the second quarter of 2020, the largest decline since the Asian financial crisis in the late 1990s[12] - Despite challenges, the company remains confident in its long-term prospects and continues to seek new projects[13] - The company anticipates further delays in the third phase of the BAAC project due to changes in the government economic team and the need for reassessment of project scope[12] - The company’s projects in southern and central Thailand were initially suspended but were allowed to continue in June 2020, with deadlines extended to November 2020[12] Expenses and Financial Management - Administrative expenses increased by 44.8% from approximately 20.0 million THB in the first half of 2019 to about 29.0 million THB in the first half of 2020, primarily due to post-listing expenses of approximately 7.9 million THB incurred after the listing in July 2019[20] - Financial costs decreased by 42.9% from approximately 10.0 million THB in the first half of 2019 to about 5.7 million THB in the first half of 2020, attributed to the repayment of borrowings from the proceeds of the listing[21] - Sales and distribution expenses remained relatively stable during the first half of 2020 compared to the same period in 2019[18] Assets and Liabilities - Total assets as of June 30, 2020, amounted to THB 1,003,832,000, compared to THB 1,006,590,000 as of December 31, 2019, showing a slight decrease[61] - The company's total liabilities increased to THB 554,366,000 as of June 30, 2020, compared to THB 514,000,000 at the end of 2019, indicating a rise in financial obligations[62] - Cash and cash equivalents decreased to approximately 29.2 million THB as of June 30, 2020, from 266.9 million THB as of December 31, 2019, with no short-term bank deposits held as of June 30, 2020[26] - The company's debt-to-equity ratio increased to approximately 60% as of June 30, 2020, compared to 32% as of December 31, 2019[26] - The total current liabilities were classified as 173,782,000 THB, compared to 81,605,000 THB in the previous year, indicating a significant increase in short-term financial obligations[136] Shareholder Information and Corporate Governance - The board did not declare an interim dividend for the six months ended June 30, 2020, consistent with the previous year[36] - Pynk Holding Limited holds a 75% equity stake in the company, with 300,000,000 shares owned by Aranya Talomsin and others[41] - The company has adopted corporate governance principles and has complied with all applicable codes during the first half of 2020, except for the separation of roles between the Chairman and CEO[53] - The audit committee, consisting of three independent non-executive directors, reviewed the financial reporting procedures and internal controls for the first half of 2020[57] Cash Flow and Investments - For the six months ended June 30, 2020, the company reported a net cash outflow from operating activities of THB 306,288, compared to a cash inflow of THB 59,276 for the same period in 2019[71] - The total cash flow from investing activities was a net outflow of THB 12,146, significantly lower than the inflow of THB 57,194 in the previous year[73] - The company issued 100,000,000 ordinary shares at a subscription price of THB 1.25 per share, raising THB 10,000,000 before expenses[71] Customer and Contract Information - Major customer contributions included THB 212,559 from Customer I and THB 120,953 from Customer III, totaling THB 333,512, which represented over 10% of total revenue[85] - The company had contract assets of THB 368,597 as of June 30, 2020, compared to THB 163,222 at the end of 2019[100] - The company operates primarily in Thailand, with all revenue generated from external customers located in the country[84]

Financial Performance - For the year ended December 31, 2019, the company's revenue was THB 538,113,000, a decrease of 30.3% compared to THB 772,133,000 in 2018[12] - The gross profit for 2019 was THB 153,516,000, with a gross margin of 28.5%, down from 32.9% in 2018[12] - The company reported a loss before tax of THB 26,295,000 in 2019, compared to a profit of THB 147,580,000 in 2018[12] - For the fiscal year ended December 31, 2019, revenue decreased by 30% or 234.0 million THB to 538.1 million THB compared to the previous year, primarily due to the completion of the BAAC debit card project which contributed 252.7 million THB in 2018[42] - Gross profit for the same period fell by 40% or 100.3 million THB to 153.5 million THB, with a gross margin of 29%, down from 33% in the previous year[43] - The company recorded a net loss of 37.3 million THB for the year ended December 31, 2019, compared to a profit of 113.5 million THB in the previous year[49] - The operating cash flow for 2019 was a net outflow of 33.18 million THB, a significant decline from a net inflow of 5.89 million THB in 2018[50] Assets and Liabilities - The total assets as of December 31, 2019, were THB 1,006,340,000, while total liabilities were THB 512,133,000, resulting in equity attributable to shareholders of THB 494,207,000[13] - As of December 31, 2019, the company's cash and cash equivalents increased to 266.9 million THB from 17.4 million THB in 2018[49] - The company's total liabilities decreased from 304.6% to 23.5% in the asset-liability ratio from December 31, 2018, to December 31, 2019[50] - Current assets rose to 448.3 million THB as of December 31, 2019, compared to 69.1 million THB in the previous year, primarily due to improved cash position post-IPO[51] - The company's current liabilities decreased from 513.3 million THB to 434.5 million THB, mainly due to a reduction in bank and other borrowings[55] - The company had a significant increase in trade receivables, rising from 41.2 million THB in 2018 to 191.7 million THB in 2019, attributed to billing delays[54] Projects and Initiatives - The company successfully listed on the Hong Kong Stock Exchange on July 16, 2019, raising a total of HKD 125 million, which will support new project launches[28] - The company initiated a significant project with BAAC, converting 1.5 million magnetic stripe cards to new chip cards or debit cards in 2019[24] - The company secured a project valued at THB 1.2 billion (approximately HKD 300 million) and THB 195 million (approximately HKD 48.1 million) with Client F in 2019[26] - The company completed its first unmanned project with the Provincial Electricity Authority (PEA) in 2019, enhancing its relationship with PEA[25] - The company anticipates starting a significant five-year project with customer F, one of Thailand's largest banks, focusing on rural operations, which will involve installing ATMs and providing support services[38] - The company is set to begin a new seven-year phase with long-term partner BAAC, upgrading its ATM/CDM network and developing new products and services[35] Economic Environment - The Thai GDP growth for 2019 was estimated at 2.4%, down from 4.1% in 2018, impacting the business environment for the company[22] - The company expects favorable conditions for new government projects following the election of Prime Minister Prayut Chan-o-cha in June 2019[22] - The impact of COVID-19 on the company's financial and operational performance is being closely monitored, with no direct negative effects reported so far[39] - The company remains confident that the COVID-19 outbreak will not affect its long-term growth plans[41] Corporate Governance - The company has maintained high standards of corporate governance to enhance performance and protect shareholder interests[90] - The board consists of two executive directors and three independent non-executive directors, ensuring a balance of skills and experience[100] - The company has complied with all applicable corporate governance code provisions since its listing date, except for the separation of the roles of chairman and CEO[92] - The board believes that the current structure of having the same individual serve as both chairman and CEO is beneficial for business prospects and operational efficiency[107] - The company has established a written guideline for employees regarding insider information to ensure compliance with trading standards[94] - The board will continue to review the effectiveness of the corporate governance structure and assess the need for separation of the chairman and CEO roles[107] - The company has a commitment to transparency and accountability in its business strategies and policies[91] - All directors are subject to re-election at least every three years at the company's annual general meeting[109] Board and Management - The company has a diverse board with members having extensive backgrounds in finance, engineering, and IT consulting[67][70][72] - The management team is focused on strategic planning, financial management, and business development[69] - The company encourages continuous professional development for all directors, providing training and relevant reading materials[148] - The board is collectively responsible for guiding and supervising the company's affairs, including strategy formulation and performance monitoring[115] - Independent non-executive directors ensure compliance with high standards in regulatory reporting[116] Audit and Risk Management - The Audit Committee, composed of three independent non-executive directors, held two meetings to review financial performance and compliance[155] - The Audit Committee is responsible for reviewing and supervising the financial reporting process and risk management systems[154] - The company has a robust internal control and risk management system in place[121] - The company conducted a formal risk assessment to identify and evaluate enterprise risks, including environmental, social, and governance risks[169] - Internal audit functions have been established to assess the effectiveness of risk management and internal control systems, with no significant deficiencies identified[170] Compensation and Shareholder Relations - The company disclosed senior management compensation details, with salaries ranging from 1.1 million to 2.9 million Thai Baht[161] - The board confirmed that the financial records are properly maintained and the financial statements fairly reflect the group's operations and finances[175] - The independent auditor's fees for the year ended December 31, 2019, totaled 2,950 thousand, with 2,750 thousand for audit services and 200 thousand for non-audit services[186] - The board does not recommend the payment of dividends for the year ended December 31, 2019, compared to zero in 2018[185] - The company will annually assess its risk management and internal control systems[176] - The company has adopted a dividend policy that allows for the declaration of dividends at the discretion of the board, considering various financial factors[180] - The board is committed to effective communication with shareholders to enhance investor relations[196] - The company has established a shareholder communication policy to ensure concerns are addressed appropriately[198]

Revenue and Profitability - Total revenue for the first half of 2019 increased by approximately 20.6% or 31.2 million THB to about 182.4 million THB compared to approximately 151.2 million THB in the first half of 2018[38] - The company's revenue for the six months ended June 30, 2019, was THB 182,416,000, with a gross profit of THB 76,684,000, resulting in a gross margin of approximately 42%[87] - The net profit after tax for the first half of 2019 was approximately 3.7 million THB, a significant decrease of about 91.5% compared to 43.8 million THB in the same period of 2018[49] - Basic earnings per share for the six months ended June 30, 2019, were THB 3,715,000, a decrease from THB 43,791,000 for the same period in 2018[183] - Revenue from IT integration solutions was THB 79,089,000 for the six months ended June 30, 2019, compared to THB 26,149,000 in 2018, indicating a significant increase of 202.5%[158] - Revenue from IT support services was THB 103,327,000 for the six months ended June 30, 2019, down from THB 125,088,000 in 2018, reflecting a decrease of 17.4%[158] Projects and Partnerships - The company has 12 ongoing projects with an unbilled contract value of approximately 288.0 million THB as of June 30, 2019[36] - The ATM project with BAAC has been extended for an additional seven years starting from June 2020, highlighting a strong partnership[36] - The company is preparing to submit bids for a project involving the construction or replacement of 5,030 machines, including 2,900 ATMs and 2,130 CDMs, expected to commence in Q4 2019[37] - The company completed eight projects in collaboration with BAAC, GISTDA, and other clients in the first half of 2019, and secured four new projects with BAAC and other clients[36] Financial Performance - The gross profit for the first half of 2019 decreased by approximately 18.5% to about 76.7 million THB, with a gross margin dropping from 62.2% in the first half of 2018 to 42.0% in 2019[39] - The company's total cost of services provided for the six months ended June 30, 2019, was THB 90,832,000, compared to THB 44,616,000 in 2018, representing an increase of 103.5%[166] - The company’s total employee benefits expenses for the six months ended June 30, 2019, were THB 20,451,000, up from THB 18,007,000 in 2018, indicating an increase of 13.6%[166] Expenses and Liabilities - General and administrative expenses decreased by 12.7% to approximately 20.0 million THB in the first half of 2019, down from about 22.9 million THB in the first half of 2018[44] - The financial costs for the first half of 2019 were approximately 10.1 million THB, compared to 11.2 million THB in the first half of 2018[46] - The income tax expense for the first half of 2019 was approximately 8.9 million THB, a reduction of 23.0% compared to the first half of 2018[47] - The company's total liabilities were THB 454,076,000, resulting in a net asset value of THB 90,502,000[91] Cash Flow and Assets - Operating cash flow for the six months ended June 30, 2019, was THB 52,984,000, an increase from THB 28,660,000 in the prior year[99] - Total assets as of June 30, 2019, amounted to THB 589,778,000, with current assets totaling THB 519,673,000[89] - The company has a cash and cash equivalents balance of THB 1,905,000 as of June 30, 2019[89] - The cash flow from financing activities resulted in a net outflow of THB 133,818,000[102] Corporate Governance - The company has complied with corporate governance codes since its listing on July 16, 2019, except for the separation of the roles of Chairman and CEO[77] - The audit committee, consisting of three independent non-executive directors, reviewed the company's financial reporting procedures and internal controls for the first half of 2019[81] - The company will continue to review its corporate governance policies to ensure compliance with best practices and recent developments[78] Shareholder Information - Major shareholder Pynk Holding Limited owns 300,000,000 shares, representing 75% of the company's equity[64] - Prapan Asvaplungprohm, Wison Archadechopon, and Talomsin collectively control 96%, 2%, and 2% of Pynk's shares respectively[65] - The company reported a total of 300,000,000 shares held by its directors, representing 75% of the equity[67] Compliance and Standards - The company adopted new and revised International Financial Reporting Standards (IFRS) effective January 1, 2019, including IFRS 16 on leases[113] - The initial application of IFRS 16 did not have a financial impact on the company as a lessor[116] - The company has opted for exemptions for low-value assets and short-term leases, not recognizing right-of-use assets and lease liabilities for these categories[127] - The company has established maximum credit limits for each customer to manage credit risk effectively[186]