此乃要件 請即處理 閣下如 對本通函的任何方面或應採取的行動 有任何疑問，應諮詢股票經紀、銀行 經理、律師、專業會計師或其他專業顧問。 閣下如已出售或轉讓 名下所有 力盟科技集團有限公司 股份，應立即將本通函連同 隨附之代表委任表格轉交買主或承讓人，或經手買賣或轉讓之銀行、持牌證券交 易商或其他代理商，以便轉交買主或承讓人。 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文件的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本文件全部或 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。 Powerwin Tech Group Limited 力盟科技集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2405） (1)建議發行股份及購回股份之一般授權； (2)重選退任董事； (3)續聘核數師；及 (4)股東週年大會通告 力盟科技集團有限公司謹定於2025年6月26日（星期四）下午二時正假座香港銅鑼灣 希慎道33號利園一期20樓舉行股東週年大會，召開大會通告載於本通函第16至21 頁。隨函附奉股東週年大會適用的代表委任表格。該代表委任表格亦刊載於香港聯 合交易 ...

Financial Performance - The company recorded a total billing of $852.9 million in 2024, a year-on-year increase of 24.9% from $682.6 million in 2023[7]. - Revenue decreased to $13.5 million in 2024, down 37.4% from $21.5 million in 2023[7]. - Net profit for the year fell to $0.5 million, compared to $7.2 million in 2023, with basic earnings per share dropping to $0.07 from $0.96[7]. - Revenue decreased by 37.4% from $21.5 million in 2023 to $13.5 million in 2024, primarily due to intensified competition in digital marketing services[22]. - Gross profit decreased by 41.3% from $19.2 million in 2023 to $11.3 million in 2024, with gross margin declining from 89.3% to 83.7%[26]. - Net profit fell by 92.1% from $7.2 million in 2023 to $0.5 million in 2024, with net profit margin dropping from 33.4% to 4.0%[32]. - The group's top five customers accounted for approximately 79.6% of total revenue for the year ending December 31, 2024, an increase from 72.3% in 2023[82]. - The single largest customer contributed approximately 33.1% to total revenue for the year ending December 31, 2024, compared to 29.4% in 2023[82]. Operational Strategy - The company plans to streamline workflows and enhance its dual SaaS platform capabilities to improve operational efficiency and reduce costs[10]. - Investment in automation tools is planned to maintain service excellence while reducing headcount[10]. - The company aims to expand its services in AI analytics and personalized content marketing through its Adorado and Powershopy platforms[10]. - More resources will be allocated to talent development to better respond to market fluctuations and emerging technologies[11]. - The company has identified emerging markets with growth potential and is actively exploring strategic partnerships[11]. - The company is committed to enhancing its market share and driving revenue growth in 2025[10]. Financial Position - Total accounts receivable increased from $203.6 million as of December 31, 2023, to $228.9 million as of December 31, 2024, driven by the growth of cross-border e-commerce merchants in China[34]. - Bank loans rose from $61.0 million as of December 31, 2023, to $102.6 million as of December 31, 2024, due to increased capital needs from higher total billings[36]. - The debt-to-equity ratio increased from 132.8% as of December 31, 2023, to 226.5% as of December 31, 2024, mainly due to increased borrowings[40]. - The total liabilities to equity ratio rose significantly from 206.7% as of December 31, 2023, to 340.8% as of December 31, 2024, reflecting higher debt levels[39]. - Interest expenses on bank loans increased from $4.1 million in 2023 to $6.0 million in 2024, indicating rising interest rate risk exposure[44]. - Cash and cash equivalents increased from $21.8 million as of December 31, 2023, to $34.4 million as of December 31, 2024, primarily due to an increase in deferred revenue and ongoing bank loan repayments[37]. Corporate Governance - The board of directors and management confirmed compliance with all relevant laws and regulations, with no significant violations reported for the year ending December 31, 2024[75]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value and accountability[135]. - The board consists of two executive directors and three independent non-executive directors, ensuring compliance with listing rules regarding board composition[142][145]. - The company has adopted a board diversity policy to ensure a balanced representation of skills, knowledge, and experience among board members[147]. - The board has established three committees: audit committee, remuneration committee, and nomination committee to oversee specific aspects of the company's affairs[139]. - The company is reviewing and monitoring its corporate governance practices to ensure compliance with the corporate governance code[135]. Risk Management - The company has adopted a comprehensive risk management policy to continuously identify, assess, and monitor key risks related to its strategic objectives[189]. - The internal audit department continuously reviews and monitors the adequacy and effectiveness of risk control measures across each business unit[188]. - The board believes that the risk management and internal control systems are effective and sufficient as of the reporting period[189]. Shareholder Relations - The company aims to provide stable and sustainable returns to shareholders, with dividend declarations dependent on financial performance, cash flow, and future operational needs[70]. - The company did not recommend any final dividends for the year ending December 31, 2024, consistent with the previous year[38]. - The company has established a shareholder communication policy to foster mutual relationships and communication with shareholders[198].

Financial Performance - For the fiscal year ending December 31, 2024, total revenue was $13.457 million, a decrease of 37.5% from $21.504 million in 2023[5] - Gross profit for 2024 was $11.263 million, down 41.5% from $19.202 million in 2023[5] - Operating profit decreased to $6.428 million in 2024, compared to $12.534 million in 2023, reflecting a decline of 48.7%[5] - Net profit for the year was $544 thousand, significantly lower than $7.185 million in the previous year, marking a decrease of 92.4%[5] - Revenue from cross-border digital marketing services decreased to $11,515,000 in 2024, down 36.6% from $18,175,000 in 2023[14] - Revenue from SaaS-based digital marketing increased to $2,796,000 in 2024, up 93.4% from $1,450,000 in 2023[14] - Revenue from mainland China was $13,456,000 in 2024, a decline of 37.3% from $21,499,000 in 2023[15] - Pre-tax profit for 2024 was $581,000, a significant decrease of 93.1% from $8,458,000 in 2023[20] - Basic earnings per share for 2024 were $0.00068, down from $0.00958 in 2023[22] - Revenue decreased by 37.4% from $21.5 million in 2023 to $13.5 million in 2024, primarily due to intensified competition in digital marketing services[43] - Income from standardized digital marketing services fell by 42.8% from $9.8 million in 2023 to $5.6 million in 2024, attributed to increased competition[44] - Customized digital marketing service revenue dropped by 55.0% from $7.0 million in 2023 to $3.1 million in 2024, as demand shifted towards SaaS-based services[44] - Revenue from SaaS-based digital marketing services increased by 92.8% from $1.5 million in 2023 to $2.8 million in 2024, driven by the merger of customized and SaaS services[45] - Gross profit decreased by 41.3% from $19.2 million in 2023 to $11.3 million in 2024, with gross margin declining from 89.3% to 83.7%[47] - Net profit fell by 92.1% from $7.2 million in 2023 to $0.5 million in 2024, resulting in a net profit margin drop from 33.4% to 4.0%[53] Assets and Liabilities - Total assets as of December 31, 2024, were $257.987 million, an increase from $219.416 million in 2023, representing a growth of 17.6%[6] - Current liabilities rose to $234.080 million in 2024, compared to $194.698 million in 2023, indicating an increase of 20.2%[6] - The company's cash and cash equivalents increased to $34.393 million in 2024, up from $21.814 million in 2023, a growth of 57.5%[6] - The total equity attributable to shareholders was $30.095 million in 2024, slightly up from $29.518 million in 2023, reflecting a growth of 2.0%[7] - Trade receivables from third parties increased to $228,934,000 in 2024, up from $203,614,000 in 2023[24] - The amount of trade receivables under factoring arrangements was $126,112,000 in 2024, compared to $69,294,000 in 2023[24] - As of December 31, 2024, the total trade and other payables amounted to $129,032 thousand, a slight increase from $128,976 thousand in 2023[26] - The aging analysis of trade payables shows that $62,236 thousand is due within one month, compared to $52,784 thousand in 2023, indicating an 18.5% increase[27] - The total bank loans as of December 31, 2024, reached $102,558 thousand, significantly up from $61,022 thousand in 2023, representing a 68% increase[28] - Trade receivables increased from $203.6 million as of December 31, 2023, to $228.9 million as of December 31, 2024, driven by growth in cross-border e-commerce demand[54] - Bank loans rose from $61.0 million as of December 31, 2023, to $102.6 million as of December 31, 2024, to support increased capital needs due to higher total billings[56] - The debt-to-equity ratio increased from 206.7% as of December 31, 2023, to 340.8% as of December 31, 2024, primarily due to increased borrowings[59] - The debt-to-equity ratio increased from 132.8% as of December 31, 2023, to 226.5% as of December 31, 2024, primarily due to an increase in borrowings[60] Operational Insights - The company plans to focus on new product development and market expansion strategies in the upcoming fiscal year[4] - The company provided services to over 3,000 marketing clients as of December 31, 2024, reflecting growth in demand for cross-border digital marketing services[38] - The proprietary SaaS platform, Powershopy, was launched in November 2021, enabling cross-border e-commerce merchants to establish and manage their independent online stores[39] - The company collaborates with 19 major global media publishers, including Meta, Google, and TikTok, enhancing its marketing reach[38] - The company’s revenue model for the cross-border e-commerce SaaS solution includes fixed monthly fees and commissions based on the gross merchandise volume (GMV) generated by clients[39] Financial Management and Governance - The company has no declared dividends for the year ending December 31, 2024, consistent with 2023, where no dividends were paid either[31] - The company has adopted a prudent financial management policy to ensure liquidity for daily operations and capital expenditures[63] - As of December 31, 2024, the total unused net proceeds from the IPO amounted to approximately HKD 58.0 million, with plans to upgrade the business and internal management systems and seek strategic partnerships or investment opportunities[68] - The expected timeline for utilizing the unused net proceeds for upgrading the business and internal management systems has been extended to the end of 2025[70] - No significant investments or acquisitions were made in subsidiaries, associates, or joint ventures as of December 31, 2024[66] - The company has no major foreign exchange risk as most of its monetary assets and liabilities are denominated in USD[65] - The company has not purchased, sold, or redeemed any of its listed securities during the year ending December 31, 2024[73] - The company has adopted the standard code for directors' securities trading as per the listing rules, confirming compliance for the year ending December 31, 2024[76] - The audit committee has reviewed the group's financial statements for the year ending December 31, 2024, ensuring consistency with the draft financial reports[77] - The annual general meeting is scheduled for June 26, 2025, with a suspension of share transfer registration from June 23 to June 26, 2025[78] - The annual report for the year ending December 31, 2024, will be published on the company's and the stock exchange's websites[79] Cost Management - Research and development costs for 2024 were $1,221,000, an increase from $1,134,000 in 2023[18] - Administrative expenses decreased from $5.0 million in 2023 to $4.1 million in 2024, due to the absence of IPO-related costs[49] - Interest expenses on bank loans rose from USD 4.1 million in 2023 to USD 6.0 million in 2024, indicating increased interest rate risk exposure[64] - As of December 31, 2024, bank loans secured by trade receivables amounted to USD 42.474 million, up from USD 1.470 million as of December 31, 2023[62] - The company has no significant contingent liabilities as of December 31, 2023, and December 31, 2024[61]

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份內容 而產生或因依賴該等內容引致的任何損失承擔任何責任。 Powerwin Tech Group Limited • 本年度的總賬單約為850百萬美元至860百萬美元，而截至2023年12月31日止年度的 總賬單則約為682.6百萬美元； • 本年度的收益約為10百萬美元至15百萬美元，而截至2023年12月31日止年度的收益 則約為21.5百萬美元；及 • 本年度的溢利約為0.2百萬美元至0.7百萬美元，而截至2023年12月31日止年度的溢 利則約為7.2百萬美元。 董事會認為，收益及溢利的減少主要由於(i)鑒於數字營銷服務的競爭加劇及為維持競爭 優勢，本集團自年初起降低向其客戶收取的賬戶管理費及增加若干客戶的返利率；及 (ii)財務成本上升。 然而，對本集團跨境數字營銷及跨境網店SaaS解決方案業務的需求有所增長，此由本集 團於本年度的總賬單較截至2023年12月31日止年度增加所證明。鑒於需求上升，本集團 將致力維持其業務的穩定增長。 盈利警告 本公告所 ...

Powerwin Tech Group Limited 承董事會命 力盟科技集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2405） 董事會會議召開日期 力盟科技集團有限公司（「本公司」及其附屬公司，統稱「本集團」）董事會（「董事會」）兹 通告謹定於2025年3月26日（星期三）舉行董事會會議，以考慮及通過本集團截至2024年 12月31日止年度的全年業績之公佈，及建議之末期股息（如有），以及處理其他事項。 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份內容 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。 香港，2025年3月14日 於本公告日期，董事會包括執行董事李翔先生及余璐女士；獨立非執行董事趙焱女士、 公佩鉞先生及李國泰先生。 力盟科技集團有限公司 主席、首席執行官兼執行董事 李翔 ...

（於開曼群島註冊成立的有限公司） （股份代號：2405） 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份內容 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。 Vistra (Cayman) Limited P.O. Box 31119 Grand Pavilion Hibiscus Way, 802 West Bay Road, Grand Cayman KY1-1205 Cayman Islands 本公司的香港股份過戶登記分處則維持不變。 Powerwin Tech Group Limited 力盟科技集團有限公司 變更開曼群島主要股份過戶登記處及 註冊辦事處 力盟科技集團有限公司（「本公司」）董事會（「董事會」）謹此宣佈，自2024年12月31日 起，本公司於開曼群島的主要股份過戶登記處及註冊辦事處已變更為： 主席、首席執行官兼執行董事 李翔 香港，2025年1月6日 截至本公告日期，董事會包括執行董事李翔先生及余璐女士；獨立非執行董事趙焱女 士、公佩鉞先生及李國泰先生。 承董事會命 力盟科技集 ...

Revenue and Profit Performance - For the six months ended June 30, 2024, the company recorded revenue of $7.4 million, a decrease of 15.9% from $8.8 million for the same period in 2023[5]. - Profit for the same period dropped from $2.0 million in 2023 to $0.3 million in 2024, with basic and diluted earnings per share falling from $0.29 to $0.04[5]. - Revenue for the six months ended June 30, 2024, decreased by 15.9% to $7.4 million from $8.8 million for the same period in 2023, primarily due to intensified competition in digital marketing services[14]. - Revenue from standardized digital marketing services fell by 30.9% to $3.2 million, while revenue from customized digital marketing services decreased by 32.7% to $1.5 million[14]. - Revenue from SaaS-based digital marketing services increased by 173.4% to $1.2 million, attributed to a shift in demand from customized services[14]. - The net profit decreased by 83.3% from $2.0 million for the six months ended June 30, 2023, to $0.3 million for the same period in 2024, with a net profit margin dropping from 23.1% to 4.6% due to increased competition and higher bad debt provisions[21]. Client and Market Engagement - The total billings from marketing clients increased from $288.4 million for the six months ended June 30, 2023, to $450.5 million for the same period in 2024[6]. - The marketing services provided cover various verticals including e-commerce, online gaming, and applications, serving over 2,900 marketing clients[5]. - As of June 30, 2024, the company provided services to over 2,900 marketing clients, covering various verticals including e-commerce and online gaming[10]. - The company aims to enhance service quality for core clients to increase revenue and plans to leverage its dual SaaS platform capabilities to support cross-border e-commerce businesses[7]. - The company has partnered with major social media operators including Meta, Google, TikTok, and LinkedIn to enhance its marketing solutions[6]. Strategic Initiatives and Future Plans - Future strategies include optimizing and upgrading the Adorado and Powershopy platforms using evolving AI technologies, expanding marketing coverage, and enhancing brand reputation[7]. - The company intends to establish local teams or offices in emerging markets such as Southeast Asia and the Middle East to expand its global reach[7]. - The company is seeking strategic partnerships and investment opportunities that complement or enhance its existing business capabilities[7]. - The company plans to optimize and upgrade its Adorado and Powershopy platforms, expand marketing coverage, and enhance localized services in overseas markets[13]. Financial Position and Liabilities - Trade receivables increased from $203.6 million as of December 31, 2023, to $245.1 million as of June 30, 2024, driven by the growth of cross-border e-commerce in China and extended collection periods from certain customers[22]. - Bank loans rose from $61.0 million as of December 31, 2023, to $99.1 million as of June 30, 2024, primarily to support capital needs arising from increased billing[24]. - The debt-to-equity ratio increased from 132.8% as of December 31, 2023, to 276.0% as of June 30, 2024, mainly due to the rise in borrowings[27]. - The cash and cash equivalents decreased from $21.8 million as of December 31, 2023, to $16.7 million as of June 30, 2024, primarily due to increased prepayments to support higher billing[25]. - The asset-liability ratio increased from 206.7% as of December 31, 2023, to 331.8% as of June 30, 2024, attributed to the increase in borrowings[26]. Research and Development - 41.7% of the net proceeds have been allocated to strengthening the company's R&D capabilities, amounting to HKD 40.3 million[43]. - Research and development costs rose to $614,000 for the six months ended June 30, 2024, compared to $592,000 in the same period of 2023, indicating a 4% increase[71]. Shareholder Information and Dividends - The company did not propose any interim dividend for the six months ended June 30, 2024[25]. - No interim dividend was declared for the six months ended June 30, 2024, consistent with the previous year[45]. - The company's issued share capital includes 800,000,000 ordinary shares as of June 30, 2024, with a par value of $0.01 each[87]. - Mr. Li holds a total of 600,000,000 shares, representing 75.00% of the company's equity[36]. - The company holds 800,000,000 shares in total, with key shareholders owning significant stakes, including 44.25% by Common Excellence[40]. Cash Flow and Operating Activities - Cash used in operating activities was $(40,310,000), compared to $(30,302,000) in the previous year, indicating a significant increase in cash outflow[57]. - The company reported a net cash decrease of $(5,169,000) for the period, compared to $(12,326,000) in the previous year[57]. Miscellaneous Financial Information - The company raised approximately HKD 96.8 million from its initial public offering, net of underwriting fees and related expenses[42]. - As of June 30, 2024, the company has utilized HKD 74.4 million of the net proceeds, with HKD 22.8 million remaining for R&D enhancement[43]. - The company reported a fair value change of $55,000 for the insurance contract deposits during the period[94]. - The fair value change of financial assets resulted in a loss of $55,000 for the six months ended June 30, 2024, compared to a loss of $29,000 in the same period of 2023[71].

Financial Performance - For the six months ended June 30, 2024, the company reported total revenue of $7,368,000, a decrease of 16% compared to $8,764,000 for the same period in 2023[2] - Gross profit for the same period was $6,229,000, down from $7,588,000, reflecting a gross margin decline[2] - Operating profit decreased to $2,922,000 from $4,358,000, indicating a decline of 33% year-over-year[2] - The company recorded a net profit of $338,000 for the six months ended June 30, 2024, compared to $2,024,000 in the prior year, representing a significant drop of 83%[2] - Basic and diluted earnings per share were $0.04, down from $0.29 in the same period last year[2] - Revenue for the six months ended June 30, 2024, was $1,656,000, compared to $1,957,000 for the same period in 2023, representing a decrease of approximately 15.3%[14] - Net profit decreased by 83.3% from $2.0 million for the six months ended June 30, 2023, to $0.3 million for the six months ended June 30, 2024, with a net profit margin decline from 23.1% to 4.6%[48] Revenue Breakdown - Revenue from standardized digital marketing services was $3,221,000, a decrease of 31% from $4,659,000 in 2023[10] - Revenue from customized digital marketing services fell to $1,549,000, down 33% from $2,303,000[10] - Revenue for the six months ended June 30, 2024, decreased by 15.9% to $7.4 million from $8.8 million for the same period in 2023, primarily due to intensified competition in digital marketing services[39] - Revenue from standardized digital marketing services fell by 30.9% to $3.2 million for the six months ended June 30, 2024, down from $4.7 million in the prior year[39] - Revenue from customized digital marketing services decreased by 32.7% to $1.5 million for the six months ended June 30, 2024, compared to $2.3 million in the same period of 2023[39] - Revenue from SaaS-based digital marketing services increased by 173.4% from $0.4 million for the six months ended June 30, 2023, to $1.2 million for the six months ended June 30, 2024[40] Expenses and Costs - Employee costs decreased to $1,723,000 for the six months ended June 30, 2024, from $1,883,000 in 2023, a reduction of approximately 8.5%[16] - Research and development costs increased to $614,000 in 2024 from $592,000 in 2023, reflecting a growth of about 3.7%[17] - Administrative expenses decreased from $2.9 million for the six months ended June 30, 2023, to $1.8 million for the six months ended June 30, 2024, due to the absence of IPO-related expenses incurred in March 2023[44] - Financial costs rose from $2.0 million for the six months ended June 30, 2023, to $2.7 million for the six months ended June 30, 2024, primarily due to extended collection periods from major clients[46] Assets and Liabilities - The company reported cash and cash equivalents of $16,670,000 as of June 30, 2024, compared to $21,814,000 at the end of 2023[4] - Total assets less current liabilities stood at $30,560,000, slightly up from $30,539,000 at the end of 2023[4] - Trade receivables as of June 30, 2024, amounted to $236,908,000, compared to $196,971,000 as of December 31, 2023, an increase of approximately 19.9%[23] - The company had trade payables of $123,389,000 as of June 30, 2024, down from $128,361,000 as of December 31, 2023, a decrease of about 3.1%[26] - The company reported a factoring arrangement with banks, with trade receivables under this arrangement amounting to $113,003,000 as of June 30, 2024, compared to $69,294,000 at the end of 2023, an increase of approximately 63.2%[24] - The debt-to-equity ratio increased from 132.8% as of December 31, 2023, to 276.0% as of June 30, 2024, primarily due to increased borrowings[54] Corporate Governance and Compliance - The company has not applied any new accounting standards that are not yet effective, and the changes in accounting policies did not have a significant impact on the interim financial statements[8] - The company has adhered to the corporate governance code and has not made any significant changes to its governance structure[63] - The company has confirmed compliance with the standards for securities trading by directors during the reporting period[64] Strategic Initiatives - The company plans to continue optimizing and upgrading its Adorado and Powershopy platforms to enhance service offerings and expand market reach[38] - The company has partnered with 19 major global media publishers, including Meta, Google, and TikTok, to enhance its marketing services[34] - The company aims to seek strategic partnerships or investment opportunities to enhance existing business functions, with 10.0% of the net proceeds allocated for this purpose[60] Other Information - The company reported no dividends declared for the six months ended June 30, 2024, consistent with the previous year[29] - The company did not recommend any interim dividend for the six months ended June 30, 2024[53] - The company has not made any significant investments or acquisitions as of June 30, 2024[58] - There are no major post-reporting period events related to the company as of the announcement date[62] - The company has not engaged in any buybacks or sales of its listed securities during the reporting period[62]

Financial Performance - Revenue for 2023 reached $21.5 million, a 30.9% increase compared to $16.4 million in 2022[6] - Total billings for 2023 were $682.6 million, up 40.6% from $485.6 million in 2022[6] - Profit increased to $7.2 million in 2023 from $5.5 million in 2022[6] - Basic earnings per share for 2023 were $0.96, compared to $0.92 in 2022[6] - Revenue increased by 30.9% from $16.4 million in 2022 to $21.5 million in 2023, driven by growth in cross-border digital marketing services and cross-border e-commerce SaaS solutions[14] - Total billings grew from $485.6 million in 2022 to $682.6 million in 2023[10] - Gross profit rose by 38.6% from $13.9 million in 2022 to $19.2 million in 2023, with gross margin improving from 84.3% to 89.3%[16] - Net profit increased by 30.8% from $5.5 million in 2022 to $7.2 million in 2023, maintaining a stable net profit margin of 33.4%[21] - Revenue from customized digital marketing services surged by 79.2% from $3.9 million in 2022 to $7.0 million in 2023[14] - Revenue from cross-border e-commerce SaaS solutions soared by 143.2% from $1.4 million in 2022 to $3.3 million in 2023[14] Client and Partnership Growth - The company served over 2,800 marketing clients by the end of 2023, up from over 1,900 in 2022[7] - Established partnerships with 19 global media publishers, including Meta, Google, and TikTok[7] - Collaborated with over 50 industry-specific media publishers[7] - The company served over 2,800 marketing clients and collaborated with 19 major global media publishers, including Meta, Google, and TikTok, as of December 31, 2023[11] Strategic Plans and Investments - Plans to enhance SaaS platforms Adorado and Powershopy using AI and RPA technologies[8] - Aims to expand into emerging markets such as Southeast Asia and the Middle East[8] - Seeks strategic partnerships and investments to complement existing business capabilities[8] - The company plans to enhance its Adorado and Powershopy platforms using AI technology and expand its global business network[13] Financial Position and Liabilities - Trade receivables increased from $113.2 million as of December 31, 2022, to $203.6 million as of December 31, 2023, primarily due to higher billings in Q4 2023[22] - Trade and other payables increased from $99.8 million as of December 31, 2022, to $129.0 million as of December 31, 2023, primarily due to business growth[23] - Bank loans increased from $29.0 million as of December 31, 2022, to $61.0 million as of December 31, 2023, driven by higher marketing expenses and increased working capital needs[24] - Cash and cash equivalents decreased from $27.7 million as of December 31, 2022, to $21.8 million as of December 31, 2023, mainly due to increased media publisher expenses in Q4 2023[25] - Net current assets surged from $4.1 million as of December 31, 2022, to $24.7 million as of December 31, 2023, driven by increased annual profits and IPO proceeds[25] - The debt-to-equity ratio rose from 20.7% as of December 31, 2022, to 132.8% as of December 31, 2023, primarily due to increased bank loan balances[28] - Interest expenses on bank loans increased from $1.9 million in 2022 to $4.1 million in 2023, reflecting higher variable interest rates[31] - The gearing ratio decreased from 459.7% as of December 31, 2022, to 206.7% as of December 31, 2023, due to increased equity from the IPO[27] Corporate Governance and Leadership - Yu Lu was appointed as one of the company's joint company secretaries on January 21, 2022[41] - Lin Yingzhi was appointed as another joint company secretary on January 21, 2022, assisting Yu Lu in compliance matters related to listing rules and other Hong Kong regulatory requirements[41] - Fan Qiyao was appointed as the head of e-commerce marketing on January 21, 2022, responsible for the overall management of the company's e-commerce business sales and operations[40] - Cao Xin was appointed as the head of the technology department on January 21, 2022, responsible for providing technical support for business technology and product development and maintenance[40] - Gong Peiyue was appointed as an independent non-executive director on March 3, 2023, responsible for supervising the board and providing independent opinions[37] - Li Guotai was appointed as an independent non-executive director on March 3, 2023, responsible for supervising the board and providing independent opinions[37] - Zhao Yan was appointed as an independent non-executive director on March 3, 2023, responsible for supervising the board and providing independent opinions[36] - Yu Lu has over 14 years of sales and strategic planning experience, previously serving as a channel account manager at Intel (China) Ltd.[36] - Zhao Yan has over 15 years of experience in law and finance, previously serving as a senior partner at Zhengxin Law Firm[36] - Gong Peiyue has over 23 years of experience in auditing, business consulting, and asset management, currently serving as the legal representative and executive director of Huifutiger (Xiamen) Asset Management Co., Ltd.[37] Customer and Supplier Concentration - The company's total revenue from its top five customers accounted for approximately 72.3% of its total revenue in 2023, up from 47.4% in 2022[47] - The company's single largest customer contributed approximately 29.4% of its total revenue in 2023, compared to 17.3% in 2022[47] - The company's top five suppliers accounted for 96.1% of its total procurement in 2023, down from 100.0% in 2022[47] - The company's single largest supplier accounted for 33.3% of its total procurement in 2023, down from 56.9% in 2022[47] Proceeds Allocation - The company allocated 41.7% of its net proceeds (HKD 40.3 million) to strengthen its R&D capabilities, with HKD 12.7 million utilized and HKD 27.6 million remaining as of December 31, 2023[45] - The company allocated 13.3% of its net proceeds (HKD 12.9 million) to promote its cross-border e-commerce SaaS solutions, with none utilized as of December 31, 2023[45] - The company allocated 15.0% of its net proceeds (HKD 14.5 million) to enhance its localized service capabilities in overseas markets, with none utilized as of December 31, 2023[45] - The company allocated 10.0% of its net proceeds (HKD 9.7 million) to upgrade its business and internal management systems, with none utilized as of December 31, 2023[45] - The company allocated 10.0% of its net proceeds (HKD 9.7 million) to seek strategic partnerships or investment opportunities, with none utilized as of December 31, 2023[45] - The company allocated 10.0% of its net proceeds (HKD 9.7 million) for working capital and general corporate purposes, with the full amount utilized as of December 31, 2023[45] Employee and Workforce Management - Total employee cost during the reporting period was approximately $3.7 million, with 86 full-time employees as of December 31, 2023, compared to 83 in 2022[52] - Total workforce as of December 31, 2023, was 86 employees, compared to 84 in 2022[168] - Full-time employees accounted for 100% of the workforce in 2023, up from 98.81% in 2022[169] - Female employees made up 53.49% of the workforce in 2023, down from 60.71% in 2022[169] - Senior management increased to 4.65% of the workforce in 2023, up from 2.38% in 2022[169] - Employee turnover rate decreased to 17.44% in 2023 from 48.81% in 2022[170] - Turnover rate for female employees was 21.74% in 2023, down from 50.98% in 2022[171] - No turnover occurred in senior management in 2023, compared to 18.18% in middle management in 2022[171] - Employees aged 18-25 had the highest turnover rate at 66.67% in 2023, down from 112.50% in 2022[171] - The company strictly adheres to labor laws and regulations, ensuring no child labor or forced labor cases were reported[172] - Employees are entitled to five national statutory social insurances and commercial accident insurance in China[173] - 109.30% of employees received training in 2023, with an average training duration of 1.12 hours per employee[179] - Female employees had a training participation rate of 115.22% with an average of 1.15 hours, while male employees had a rate of 105.50% with an average of 1.08 hours[180] - Senior management received 2.00 hours of training, middle management received 1.00 hour, and frontline and other employees received 1.08 hours on average[180] - The company maintained a zero record of workplace accidents, injuries, or fatalities over the past three years, including 2023[178] - The company conducted fire drills annually to enhance employee fire safety awareness and emergency response capabilities[177] - The company provided comprehensive welfare programs, including employee recognition programs, afternoon tea, holiday benefits, and workplace celebrations[177] - The company strictly adheres to anti-discrimination laws and provides equal opportunities in recruitment, promotion, rewards, and training[176] - The company established multiple communication channels for employees to share feedback, including email, QQ, Weibo, and WeChat[175] - The company prohibits any form of child labor or forced labor and conducts thorough identity checks during recruitment[181] - The company ensures diversity and inclusion in recruitment, training, and career development, promoting a balanced work-life culture[181] Shareholder and Equity Information - Mr. Li holds a 12% equity interest in the company through controlled entities, and an additional 18% through a discretionary trust, totaling 30% of the company's equity[55] - Ms. Yu holds a 0.75% equity interest in the company through a controlled entity, and an additional 44.25% through a discretionary trust, totaling 45% of the company's equity[55] - The company's issued share capital as of December 31, 2023, was 800,000,000 shares[55] - Mr. Li and Ms. Yu, as spouses, are deemed to have interests in each other's shares, with Mr. Li holding 45% and Ms. Yu holding 30% of the company's equity through spousal interests[55][56] - Common Excellence holds 354,000,000 shares, representing 44.25% of the total issued shares[60] - Into One holds 144,000,000 shares, representing 18.00% of the total issued shares[60] - Xiang Cai holds 90,000,000 shares, representing 11.25% of the total issued shares[60] - Total Mice holds 354,000,000 shares, representing 44.25% of the total issued shares, through Tranquil Trust[60][61] - Honest Beauty holds 144,000,000 shares, representing 18.00% of the total issued shares, through Imperial Trust[60][61] - The company has not entered into any stock-linked agreements during the reporting period[61] - No purchases, sales, or redemptions of listed securities were made by the company or its subsidiaries during the reporting period[61] - The company maintains sufficient public float as required by listing rules[67] Legal and Compliance - No significant legal proceedings or claims were reported during the reporting period[64] - No significant events occurred after December 31, 2023, that would adversely affect the company's operations or financial performance[66] - The company will suspend share transfer registration from June 13, 2024, to June 18, 2024, to determine shareholder eligibility for the Annual General Meeting[68] - KPMG has been appointed as the auditor for the fiscal year ending December 31, 2023, and will retire at the upcoming Annual General Meeting, with a resolution for their reappointment to be proposed[69] - The company adheres to high standards of corporate governance, focusing on sustainable returns for shareholders, risk management, and maintaining high ethical standards[70] - The company maintains a high level of corporate governance to protect shareholder rights and enhance corporate value and accountability, with continuous review and monitoring of governance practices[71] - Mr. Li Xiang serves as both the Chairman and CEO, with the Board believing that combining these roles benefits the company's management, though it will continue to review the separation of these roles if necessary[72] - The Board is responsible for overseeing the company's strategic decisions and performance, with three committees established to handle specific aspects: Audit, Remuneration, and Nomination Committees[73] - The Board consists of two executive directors and three independent non-executive directors, ensuring compliance with regulatory requirements regarding board composition[74] - Independent non-executive directors bring diverse expertise and experience to the Board, with mechanisms in place to ensure their independence and contribution[76] - The company has adopted a Board Diversity Policy to achieve an appropriate level of diversity, considering factors such as skills, experience, and cultural background when appointing directors[77] - The gender ratio of employees (including senior management) is approximately 1:1.5 (male:female)[78] - The board of directors consists of five members, with two female directors, aligning with the company's board diversity policy[78] - All directors attended 4 out of 4 board meetings and 1 out of 1 annual general meeting during the reporting period[82] - The audit committee, chaired by an independent non-executive director, held 2 out of 2 eligible meetings during the reporting period[87] - The company provides necessary induction training and materials to newly appointed directors to ensure they understand operations and legal responsibilities[79] - Directors are encouraged to participate in continuous professional development to enhance and update their knowledge and skills[79] - The board of directors retains decision-making authority over major matters, including policy approval, overall strategy, and budget oversight[84] - The audit committee is responsible for reviewing and monitoring the independence and effectiveness of external auditors[86] - The company has adopted a code of conduct for securities transactions, and all directors confirmed compliance during the reporting period[83] - The board holds regular meetings at least four times a year, with agendas and documents provided at least three days in advance[81] - The Nomination Committee consists of three members, chaired by Executive Director Mr. Li, with the other two members being Independent Non-Executive Directors Ms. Zhao Yan and Mr. Gong Peiyue[88] - The Nomination Committee evaluates candidates based on integrity, experience, skills, and the time and effort dedicated to their duties[88] - All members of the Nomination Committee attended 1 out of 1 meeting during the reporting period[89] - The Remuneration Committee is composed of three members, chaired by Independent Non-Executive Director Mr. Gong Peiyue, with the other members being Executive Director Ms. Yu and Independent Non-Executive Director Ms. Zhao Yan[93] - The Remuneration Committee is responsible for reviewing and approving the remuneration of directors and senior management, ensuring it aligns with the company's goals and market standards[93] - All members of the Remuneration Committee attended 1 out of 1 meeting during the reporting period[95] - The company's directors and senior management remuneration includes袍金, salaries, pension contributions, allowances, non-cash benefits, and discretionary bonuses, determined based on market benchmarks and performance[96] - The company's senior management salaries range from HKD 0 to 1,000,000, with 2 individuals falling within this range[97] - The company's risk management and internal control systems were deemed effective and sufficient as of December 31, 2023[101] - The company's audit committee reviewed and supervised financial reporting procedures and internal control systems, chaired by Mr. Li Guotai[102] - The company appointed external legal advisors to ensure compliance with listing rules and regulatory requirements[103] - The company provided anti-corruption, anti-bribery, and anti-money laundering compliance training to senior management and employees[103] - The company's total fees for audit and non-audit services during the reporting period amounted to USD 455,000[106][107] - The company's joint company secretaries, Ms. Yu and Ms. Lam, completed at least 15 hours of professional training related to listing rules[108] - The company emphasized timely disclosure and transparency to enable informed investment decisions by shareholders and investors[109] - The company's annual general meeting provides shareholders with the opportunity to directly communicate with the board, and the CEO and chairman of the board committee will attend to answer questions[110] - Shareholders holding at least one-tenth of the company's paid-up share capital with voting rights can request the board to convene a special general meeting within two months of submitting the request[113] - The company adopted revised and restated articles of association effective from the listing date on March 3, 2023[115] Environmental, Social, and Governance (ESG) - The company published its second Environmental, Social, and Governance (ESG) report, detailing policies, measures, and performance from January 1, 2023, to December 31, 2023[118] - The company conducts annual materiality assessments to identify and evaluate important ESG issues for stakeholders[119] - The company records and collects ESG key performance indicators (KPIs) data and discloses relevant quantitative information and historical data for comparison

Core Viewpoint - Liemeng Technology (02405) reported a significant increase in revenue and profit for the fiscal year ending December 31, 2023, driven by growth in cross-border digital marketing and SaaS solutions for cross-border online stores [1] Financial Performance - The company achieved revenue of $21.504 million, representing a year-on-year increase of 30.89% [1] - Net profit for the year was $7.185 million, reflecting a year-on-year increase of 30.78% [1] - Basic earnings per share were reported at 0.96 cents [1] Business Segments - The revenue growth was primarily attributed to the increase in income from cross-border digital marketing and SaaS solutions for cross-border online stores [1] - Revenue from cross-border online store SaaS solutions surged by 143.2%, rising from $1.4 million in 2022 to $3.3 million in 2023, mainly due to an increase in customer numbers [1] - The number of independent online stores established through the company's Powershopy platform also increased, contributing to the growth in Gross Merchandise Value (GMV) earned by the independent online stores of the company's clients [1]