从今天开始一直到今天然后今天我们是有一部分的线上的商务公司的小范围交流这场的话我们非常荣幸的请到了复博集团的投资者关系的负责人Catherine来和我们交流一下公司近期的一些情况然后复博呢也是我们长期跟踪的一个做版权保护和变现包括这两年 在ITC领域也做了很多的一个布局所以我们也是借我们这个策划会的机会的话和各位投资人分享一下公司最新的一些业务的进展和未来的一些规划和展望我下面就先把时间交给KatherineKatherine下面要不就你开始分享因为这场交流有这个PPT的展示如果大家可以的话也可以通过APP端进入我们可以看一些PPT的内容 好,谢谢周老师,也谢谢我们的金融财经的团队,因为这一次很可惜我们团队没有办法来到上海跟大家线下进行见面,所以咱们线上见面也有线上见面的好处,我们这一次公司整体也做了我们的一个叙事上的材料升级, 也通过这次机会希望可以跟线上的投资者们一起来去分享一下公司现在近期的我们新的业务的进展,然后以及包括我们其实从整个的一个战略的角度上对于公司接下来的一些这个业务推进上的想法。 因为线上我看到有我们的一些老的投资者但也有些新的投资者我这一次可能通过前面的大概15分钟左右的时间先跟大家讲 ...

我们实际上是一个我们叫做数字视频的这个数字剧权的公司不管今天你看的短视频也好可能三分钟两分钟这里包括了任何华纳的IP或者是蜘蛛侠从高空跳下来这个画面我们通过比对这些大量的视频的话其实找到 这种视频的IP哪怕在一个70分钟的这个视频里面还是两分钟视频里面被用了一秒甚至一帧画面这样的一个场景那在这样的比对过程中呢我们实际上的这个数字去全的这一个核心能力是由我们的两个技术来支撑的 一个是我们的指纹技术那我们的指纹技术就相当于一个视频就像咱们人一样伸下来是带这个DNA的我们把一个视频一秒钟24帧画面每一帧的画面都进行特征值的提取提取出来之后呢画面连贯出来它就变成了一串像DNA螺旋马一样这个视频独一无二的指纹 那和人一样因为带有这种独特的指纹那咱们今天去高铁站去飞机场我通过扫这个指纹就能识别这个人是谁同样道理我们在30多万个媒体站点包括搜索引擎包括一些流媒体的站点包括短视频平台上进行每天大量的扫描比对 这个是指纹技术是扫描和比对进行对于内容出现的这个识别而另外一个技术是我们的水印技术而这个水印技术呢其实是在识别之后呢 通过我原有对内容加入的这一层肉眼看不到的隐形的独特的水印我能够识别出这个内容最开始的传播源是从哪里相当 ...

今天我们非常荣幸邀请到福布尔集团的副总裁龙总以及相关的领导Catherine来参加我们这次的电话会议那我们的会议呢今天主要就直接进入到问答环节如果参会的领导有任何问题欢迎文字留言那昨天晚上公司也发了一个一季度的业绩总体来看营收和利润双增然后表现是比较好的那我们接下来就直接在问答环节龙总以及Catherine你们在线吗能听得清楚吗 感谢还有这个在线的各位投资人朋友对我们这边清楚的信号很好好的那我们就直接进入大问答环节那好我们开始第一个问题就是2023年从我们财务的数据来看的话利润是亏损的但是一季度的话已经看到比较好的这个回转态势那总体来看的话在这个后续公司是怎么来权衡整个财务的稳定和业务发展的关系能不能分享一下 好的,对,因为这里面涉及到一些具体的财务数据,还有一些未来财务相关的东西,那我就请我们的同事Catherine跟大家在这个问题上做一些展开一下。朱朱老师您好,以及向投资者朋友们大家好,我是Catherine。 关于这个问题的话,我们23年公司的这个利润其实是基本上打平亏损21万那从23年的整个表现来看的话呢,上半年其实是盈利的而下半年的话呢,这个亏损增加主要的也是来自于我们的研发以及对于一些在中国的这个 ...

V Vobile 阜博集團 創 怠 更 有 價 值 該 Making Creative Content More Valuable 2023 年度報告 阜博集團有限公司 股份代號:3738 於 開曼群島註冊成立的有限公司 目 錄 | --- | --- | --- | --- | |-------|------------------|-------|-------| | | | | | | | 02 公司資料 | | | | 04 | 主席報告 | | | | 06 | 管理層討論及分析 | | | | 22 | 董事及高級管理層 | | | | 26 | 董事會報告 | | | | 42 | 企業管治報告 | | | | 55 | 獨立核數師報告 | | | | 60 | 綜合損益表 | | | | 61 | 綜合全面收益表 | | | | 62 | 綜合財務狀況表 | | | | 64 | 綜合權益變動表 | | | | 66 | 綜合現金流量表 | | | | 68 | 綜合財務報表附註 | | | | 148 | 五年財務概要 | | | | 149 | 釋義 | | | | --- | --- | ...

[Table_MainInfo] 公司研究/传媒 证券研究报告 阜博集团（3738）公司年报点评 2024年04月03日 [Table_InvestInfo] 营收持续高增，积极推进技术升级与产品 投资评级 优于大市 维持 创新把握 时代新机遇 股票数据 AI 4[T月a2bl日e_收S盘to价c（kI港n元fo）] 1.52 [Table_Summary] 52周股价波动（港元） 1.32-3.67 投资要点： 总股本/流通A股（百万股） 2240/2240 总市值/流通市值（百万港元） 3405/3405 相关研究  事件：公司 2023年实现营收20.01亿港元，同比增加38.70%，其中国内业 [《Ta公b司le年_R报e点p评or，tI2n0f2o2]年营收实现高速增长， 务收入同比增长43.68%至10.02亿港元，国外业务以美国地区为主，收入同 Web3.0 和 AI 新技术赋能未来产品创新》 比增长32.80%至9.83亿港元，占总收入的49.11%。公司毛利水平进一步改 2023.04.21 善，毛利率同比提升1.5pct至42.49%，EBITDA同比增长6.59%至3.19亿。  订 ...

证券研究报告·海外公司点评·软件服务(HS) 阜博集团（03738.HK） 2023 年报点评：客户范围不断拓展，加快布 2024 年 03月 28日 局 AI 领域 证券分析师 张良卫 买入（维持） 执业证书：S0600516070001 021-60199793 [ 盈Ta 利bl 预e_ 测EP 与S] 估 值 2022A 2023A 2024E 2025E 2 026E zhanglw@dwzq.com.cn 证券分析师 周良玖 营业总收入（百万港元） 1,443 2,001 2,510 3,385 4,391 执业证书：S0600517110002 同比 110.14% 38.70% 25.44% 34.87% 29.72% 021-60199793 归母净利润（百万港元） 42.00 -7.82 14.37 41.01 86.32 zhoulj@dwzq.com.cn 同比 285.22% -118.61% 283.84% 185.34% 110.48% 研究助理 张文雨 Non-IFRS净利润（百万港元） 89.90 37.41 52.37 149.44 314.54 执业证书：S0600123 ...

证券研究报告 | 年报点评报告 2024年03月27日 阜博集团（03738.HK） 收入全面增长，产品技术升级，AI 服务能力增强 业绩概览：2023年公司实现营收20.0亿港元，YoY+38.7%。分业务看，2023年公 买入（维持） 司订阅业务收入8.7亿港元，YoY+58.2%，占总营收比重43.4%；增值业务收入 股票信息 11.3亿港元，YoY+26.7%，占总营收比重56.6%。2023年公司经调整EBITDA 3.2 亿港元，YoY+6.6%，经调整EBITDA率达16.0%；公司2023年净利润为-21万 行业 应用软件 港元，主要由于公司为拓展业务，扩大销售及研发支出所致。 前次评级 买入 3月26日收盘价(港元) 1.75 订阅业务技术升级，增值业务积极创新。1）订阅服务：服务技术升级+服务领域延 展。2023年，公司进行了多项技术服务升级与产品开发。公司的智能化数据服务工 总市值(百万港元) 3,920.78 具可对侵权网站进行更细颗粒度的风险等级评估，更高频地辅助客户决策并提供相 总股本(百万股) 2,240.44 应解决方案。同时公司将服务能力向更广泛的版权领域延伸，2023年公司 ...

Revenue and Profit Growth - Revenue for 2023 increased to 2,000,989 thousand HKD, up from 1,442,670 thousand HKD in 2022, representing a 38.7% year-over-year growth[2] - Gross profit for 2023 was 850,157 thousand HKD, compared to 590,712 thousand HKD in 2022, a 43.9% increase[2] - Total revenue for 2023 increased to 2,000,989 thousand HKD, up from 1,442,670 thousand HKD in 2022, representing a growth of approximately 38.7%[15] - Revenue from Mainland China in 2023 was 1,002,314 thousand HKD, a significant increase from 697,592 thousand HKD in 2022, reflecting a growth of approximately 43.7%[15] - Revenue from the United States in 2023 was 982,777 thousand HKD, up from 740,031 thousand HKD in 2022, showing a growth of approximately 32.8%[15] - Revenue in 2023 increased by 39% to 2,001 million HKD compared to 1,443 million HKD in 2022, driven by growth in the US market and business expansion in mainland China[64] - Gross profit rose to 850 million HKD in 2023, up from 591 million HKD in 2022, with gross margin improving from 40.9% to 42.5%[65] - Vobile achieved total revenue of HKD 2,001 million in 2023, a year-on-year growth of 39%, with adjusted EBITDA of HKD 319 million, up 7% year-on-year[46] - North America market revenue was approximately HKD 983 million, a year-on-year increase of 33%, accounting for 49% of total revenue[47] - China market revenue reached HKD 1,002 million, a year-on-year growth of 44%, accounting for 50% of total revenue[48] Financial Performance Metrics - Adjusted EBITDA for 2023 reached 319,196 thousand HKD, up from 299,464 thousand HKD in 2022, a 6.6% increase[2] - Total assets increased to 3,506,108 thousand HKD in 2023 from 3,260,325 thousand HKD in 2022, a 7.5% growth[2] - Total liabilities decreased to 1,366,296 thousand HKD in 2023 from 1,586,690 thousand HKD in 2022, a 13.9% reduction[2] - Net asset value rose to 2,139,812 thousand HKD in 2023 from 1,673,635 thousand HKD in 2022, a 27.9% increase[2] - Total equity increased to 2,139,812 thousand HKD in 2023 from 1,673,635 thousand HKD in 2022, a 27.9% growth[9] - Adjusted net profit under non-IFRS was 37.4 million HKD in 2023, down from 89.9 million HKD in 2022[59] - Adjusted EBITDA under non-IFRS increased to 319.2 million HKD in 2023 from 299.5 million HKD in 2022[59] - The company reported a loss of HKD 0.2 million in 2023, compared to a profit of HKD 58 million in 2022, with basic and diluted loss per share at HKD 0.0035[70] - Total assets increased to HKD 3,506.1 million in 2023 from HKD 3,260.3 million in 2022, while total liabilities decreased to HKD 1,366.3 million from HKD 1,586.7 million[71] - The capital-to-debt ratio improved to 18% in 2023 from 31% in 2022, reflecting reduced net debt relative to equity[79] R&D and Innovation - R&D expenses for 2023 were 231,533 thousand HKD, up from 133,129 thousand HKD in 2022, a 73.9% increase[4] - R&D expenses in 2023 were 231,533 thousand HKD, a substantial increase from 133,129 thousand HKD in 2022, reflecting a growth of approximately 74%[20] - R&D expenses increased to HKD 232 million in 2023, up by HKD 99 million (74.4%) from HKD 133 million in 2022, driven by new product development for strategic growth opportunities[68] - Vobile established a new R&D and operations center in collaboration with the University of Florida to explore AI-based digital content rights management technologies[49] - Vobile integrated multimodal large model capabilities to improve efficiency in content automation review and multilingual translation workflows[49] - The company focuses on digital content asset protection and transaction services, leveraging AI and Web3 technologies[37] - Global digital economy accelerated in 2023, with generative AI showing significant potential to drive innovation and push the digital content industry to new heights[38] - Generative AI is predicted to contribute nearly 90 trillion yuan to the global economy by 2035, with North America leading in technological innovation[39] - The company has strategically positioned itself to capitalize on the rise of user-generated content (UGC) and generative AI, enhancing its digital rights management capabilities[39] - Explore Web3 solutions to enhance content distribution and allocation efficiency, integrating AIGC and Web3 service capabilities[54] Market Expansion and Partnerships - The company expanded its subscription services to include trademark, literary works, and commercial image protection, and provided intellectual property services for top international events[42] - The company deepened its collaboration with platform clients, increasing the scale of API calls and extending services to content monetization[43] - The company successfully integrated with Particle Technology, expanding its reach in China and forming large-scale revenue partnerships with major telecom operators[43] - The company provided comprehensive copyright management services on platforms like YouTube, Facebook, and Instagram, helping clients protect and monetize their content[44] - The company localized resources and services for IPTV and other video-on-demand platforms in China, distributing content on over 120 platforms[44] - Vobile enhanced real-time live content infringement monitoring on social platforms and expanded cooperation with international brand clients[47] - Vobile supported Chinese content providers in achieving breakthroughs in international content dissemination and influence in 2023[48] - The company is transitioning from a copyright service provider to building infrastructure-level service capabilities, leveraging blockchain and AI technologies to enhance IP transaction efficiency[57] - The company aims to expand its IP transaction infrastructure ecosystem, enabling direct interaction between content creators and consumers, and fostering a fairer content consumption model[57] - Long-term growth is expected through the continuous improvement of IP transaction infrastructure, which will exponentially increase service scale and provide more diverse monetization opportunities for content creators[58] Financial Position and Capital Management - Trade receivables increased to 1,057,247 thousand HKD in 2023 from 686,151 thousand HKD in 2022, a 54.1% growth[7] - Cash and cash equivalents stood at 240,043 thousand HKD in 2023, compared to 226,495 thousand HKD in 2022, a 6.0% increase[7] - The company's total non-current assets in 2023 were 1,764,651 thousand HKD, slightly up from 1,709,136 thousand HKD in 2022[16] - Non-current assets in Mainland China increased to 1,137,390 thousand HKD in 2023 from 1,059,136 thousand HKD in 2022, a growth of approximately 7.4%[16] - The company's investment properties had a fair value of HK$70,234,000 as of December 31, 2023, with a net gain of HK$3,468,000 from fair value adjustments[26] - The fair value of the company's financial assets measured at fair value through profit or loss was HK$199,280,000 as of December 31, 2023, including non-listed investments and call options[27] - Trade receivables as of December 31, 2023, amounted to HK$1,057,247,000, with an impairment loss provision of HK$11,669,000[28] - The company's trade receivables aged over one year increased to HK$23,637,000 in 2023 from HK$9,793,000 in 2022[29] - Trade receivables expected credit loss rate increased to 1.09% in 2023 from 0.12% in 2022, with a total expected credit loss of HKD 11,669 thousand[30][31] - Trade payables within 1 year increased to HKD 450,875 thousand in 2023 from HKD 279,691 thousand in 2022[32] - Convertible bonds issued in 2022 with a total principal of HKD 117,000 thousand, carrying an annual interest rate of 4% and an effective annual interest rate of 10.69%[33] - The liability portion of convertible bonds increased to HKD 107,680 thousand in 2023 from HKD 101,686 thousand in 2022[34] - Issued shares increased to 2,240,443,656 in 2023 from 2,117,596,656 in 2022, with a total share capital of HKD 441 thousand[35] - The company completed a placement of 114,127,000 shares at HKD 4.12 per share in 2023[36] - The company exercised 8,720,000 share options in 2023, generating a total cash consideration of HKD 7,555 thousand[36] - Goodwill stood at HKD 1,170 million as of December 31, 2023, with no impairment loss recognized[72] - Intangible assets increased to HKD 437 million in 2023, up by HKD 49 million from HKD 388 million in 2022[73] - Cash and cash equivalents decreased to HKD 255 million in 2023 from HKD 434 million in 2022, with a current ratio of 2.0x compared to 1.2x in 2022[75] - Capital expenditures for 2023 amounted to HKD 212 million, up from HKD 123 million in 2022, primarily for property, plant, equipment, and intangible assets[77] - The company raised HKD 464 million through a share placement in 2023, with proceeds fully utilized to repay interest-bearing borrowings[82] Corporate Governance and Compliance - The Board of Directors did not recommend the payment of a final dividend for the year ended December 31, 2023[84] - The company has maintained high corporate governance standards and believes that good corporate governance is crucial for strategy formulation and enhancing transparency[84] - The company has adopted the Standard Code as its code of conduct for directors' securities transactions and has established guidelines for employees' securities transactions that are at least as strict as the Standard Code[85] - The company and its subsidiaries did not purchase, sell, or redeem any listed securities during the year ended December 31, 2023[86] - The Audit Committee reviewed the Group's full-year results for the year ended December 31, 2023, and confirmed that the results were prepared in accordance with relevant accounting standards and disclosed sufficiently under the Listing Rules[86] - The financial figures in the performance announcement have been verified by the company's auditor, Ernst & Young, and are consistent with the amounts in the annual consolidated financial statements[87] - The full-year results announcement is available on the Hong Kong Stock Exchange website and the company's website, and the 2023 annual report will be published and posted on these websites in due course[88] - The company's board of directors consists of executive directors Wang Yangbin and Wang Weijun, non-executive directors Chen Zhengxin, J David WARGO, and Deng Yihai, as well as independent non-executive directors Alfred Tsai CHU, Charles Eric EESLEY, and Guan Yijie[91] - The announcement contains forward-looking statements regarding the company's business prospects, financial performance estimates, projected business plans, and development strategies[91] - These forward-looking statements are based on currently available information and are subject to risks and uncertainties, which may cause actual results to differ materially[91] - Investors are advised not to place undue reliance on these forward-looking statements as they may not be achieved[91] Operational Expenses and Costs - Sales and marketing expenses increased by 133 million HKD to 285 million HKD in 2023, primarily due to enhanced sales and marketing activities and the full-year impact of the Particle Technology acquisition[66] - Administrative expenses rose by 40 million HKD to 203 million HKD in 2023, mainly due to the full-year inclusion of Particle Technology's administrative costs[67] - Total tax expenses for 2023 were 47,351 thousand HKD, up from 34,439 thousand HKD in 2022, reflecting an increase of approximately 37.5%[21] - The company's financing costs and tax expenses for the year ended December 31, 2023, include a 21% federal tax rate in the US, a 16.5% statutory tax rate in Hong Kong, and a 25% statutory tax rate in Mainland China, with some subsidiaries enjoying a preferential rate of 15% due to being recognized as high-tech enterprises[22] Strategic Focus and Future Outlook - Focus on high-quality development model, concentrating resources on sustainable business segments with leapfrog opportunities, particularly in video digital watermarking and generative AI[52] - Advance copyright content expansion and new business services in the generative AI era, leveraging deep industry understanding and technical capabilities[53] - Invest in R&D and operational centers, such as the one in Florida, to strengthen technological advantages and infrastructure capabilities in the generative AI era[54] - Participate in regional copyright ecosystem construction, maximizing the value of audiovisual data and enhancing content creator productivity[55] - Leverage the global largest authorized film and TV content gene library to empower the creator economy[55] - Support cultural trade and "cultural export" strategies, particularly in the rising trend of micro-short dramas in global markets[56] - Strengthen digital infrastructure and scalable service capabilities to accelerate the application of cultural digitization[56]

Digital Content Protection and Rights Management - Vobile Group is a leading global SaaS provider for digital content asset protection and transaction, leveraging core patented technologies in digital fingerprinting and watermarking[8] - The company focuses on building essential technical infrastructure for digital content asset protection and transaction, enhancing the value transmission in the industry ecosystem[8] - Vobile Group is strategically positioned to capitalize on the growing demand for digital rights management, driven by the evolution of digital content and IP monetization[9] - The company is expanding its services from traditional content protection to diversified digital content rights management and emerging digital asset services[9] - The company continues to upgrade core patent technologies such as digital fingerprinting and watermarking to improve infringement detection rates and accuracy[15] - The company is exploring new applications for digital content rights confirmation, protection, and trading in the context of Web3 and AI trends[15] - The company is leveraging its digital rights management expertise to support content creators and platforms, ensuring copyright protection and maximizing IP value[18] - The company's strategic development opportunities include the explosive growth in demand for digital rights confirmation services in content trading and circulation[17] Market Expansion and Revenue Growth - Revenue from the Chinese market was approximately HKD 560 million, a year-on-year increase of 148.2%, accounting for 55.8% of total revenue[13] - Revenue from the US market was approximately HKD 440 million, a year-on-year increase of 34.2%, accounting for 43.9% of total revenue[14] - Revenue for the six months ended June 30, 2023, was HK$1,002.8 million, an increase of 80.3% compared to HK$556.1 million in the same period in 2022[29] - Subscription service revenue increased by 131.4% to HK$467 million, accounting for 46.6% of total revenue, up from 36.3% in the same period in 2022[29] - Value-added service revenue grew by 51.8% to HK$536 million, representing 53.4% of total revenue, down from 63.5% in the same period in 2022[29] - Revenue from external customers in Mainland China surged to HKD 560.0 million in 2023, up from HKD 225.7 million in 2022, reflecting significant growth in the region[105] - Revenue from the United States grew to HKD 439.8 million in 2023, up from HKD 327.8 million in 2022, showing steady growth in the region[105] - The company's total revenue from external customers reached HKD 1,002.8 million in 2023, a significant increase from HKD 556.1 million in 2022[105] Financial Performance and Metrics - Adjusted EBITDA for the period was approximately HKD 181 million, a year-on-year increase of 38.9%[13] - Gross profit increased by 70.6% to HK$393 million, with a gross margin of 39.2%, down from 41.4% in the same period in 2022 due to changes in revenue structure[30] - Adjusted EBITDA under non-IFRS measures increased to HK$181.3 million, up from HK$130.6 million in the same period in 2022[27] - Adjusted net profit under non-IFRS measures rose to HK$58.1 million, compared to HK$50.0 million in the same period in 2022[25] - Net profit for the six months ended June 30, 2023, was approximately HKD 34 million, an increase of HKD 5 million or 16.4% compared to HKD 29 million in the same period in 2022[35] - Adjusted EBITDA for the six months ended June 30, 2023, was approximately HKD 181 million, an increase of HKD 50 million or 38.9% compared to HKD 131 million in the same period in 2022[36] - Gross profit for the period was HK$392,773 thousand, compared to HK$230,185 thousand in the previous year, reflecting improved profitability[92] - Net profit attributable to the company's owners was HK$29,163 thousand, up from HK$23,663 thousand in the same period last year[92] - Basic earnings per share for the period were HK$0.0132, compared to HK$0.0112 in the previous year[92] Technological Advancements and Innovation - Vobile Group is adapting to technological advancements such as Web3 and AIGC, exploring new service opportunities and application scenarios[10] - The company aims to enhance its role as a key player in the data ecosystem by improving its data service capabilities and expanding its client base[10] - Web3 technology is enabling lower-cost, faster, and freer circulation of digital assets, with the company investing in R&D to explore new application scenarios in this field[21] - AIGC (AI-generated content) presents significant industry opportunities, with the company focusing on copyright protection and value distribution in this emerging field[22] - The company is actively deploying in the AIGC and UGC (user-generated content) sectors, aiming to capture new opportunities in content creation and distribution[22] - The company has upgraded its new media management and distribution platform and integrated with "Volcano Engine" to enhance product capabilities[15] - R&D expenses increased by 63.6% to HK$95 million, driven by more R&D activities during the period[33] - The company's R&D expenses increased to HK$95,290 thousand, up from HK$58,250 thousand in the previous year, indicating a focus on innovation[92] Strategic Alliances and Industry Participation - Vobile Group is actively participating in China's digital cultural industry, leveraging policy benefits and development opportunities in the data-driven economy[9] - The company co-hosted the "National Cultural Digitalization Strategy Industry Implementation Seminar" in March 2023, forming the "Cultural Export Ecosystem Strategic Cooperation Alliance"[9] - The company is establishing a "Cultural Export Ecosystem Strategic Cooperation Alliance" to promote efficient global circulation of high-quality digital content assets[20] - The company is expanding its service matrix and upgrading functions, aiming to build a one-stop cultural content sharing platform in emerging markets[19] - YouTube and other social media platforms are exploring new content monetization forms like e-commerce, short videos, and live streaming, creating new growth opportunities for the company[19] Financial Structure and Capital Management - Total assets as of June 30, 2023, were HKD 3,409,677 thousand, compared to HKD 3,260,325 thousand as of December 31, 2022[37] - Goodwill as of June 30, 2023, was approximately HKD 1,160 million, a decrease of HKD 24 million compared to HKD 1,184 million as of December 31, 2022, due to exchange rate adjustments[38] - Intangible assets as of June 30, 2023, were approximately HKD 421 million, an increase of HKD 33 million compared to December 31, 2022[39] - Interest-bearing borrowings as of June 30, 2023, were USD 60 million (approximately HKD 470.156 million), with repayment schedules extending to 2025 and 2026[39] - Cash and cash equivalents and pledged deposits as of June 30, 2023, totaled approximately HKD 263 million, with a current ratio of 2.0[41] - Capital expenditures for the six months ended June 30, 2023, were approximately HKD 87 million, primarily used for equipment and intangible assets[42] - The capital-to-debt ratio as of June 30, 2023, was 13%, a decrease from 31% as of December 31, 2022[45] - The company utilized the net proceeds of HKD 106 million from the issuance of convertible bonds as of June 30, 2023, in accordance with the intended use[46] - The company completed a placement of 114,127,000 shares, raising net proceeds of approximately HKD 464 million, with a subscription price of HKD 4.12 per share, representing an 11.0% discount to the closing price on January 30, 2023[47] - The net price per share raised from the placement was approximately HKD 4.06[47] - The company fully utilized the net proceeds of HKD 464 million by June 30, 2023, primarily for repaying interest-bearing loans[49] - The company allocated HKD 69 million for investments in digital asset protection, digital asset trading, and SaaS related to YouTube shopping, with HKD 22 million utilized by June 30, 2023[47] - The company allocated HKD 37 million for general working capital, which was fully utilized by the end of 2022[47] Corporate Governance and Shareholder Structure - The company maintains a high standard of corporate governance, with the Board of Directors consisting of two executive directors, three non-executive directors, and three independent non-executive directors[50] - The company has adopted a pre-IPO share option scheme, a post-IPO share option scheme, and a share award scheme[54] - The total number of shares that may be issued under the Pre-IPO Share Option Plan is 32,120,000 shares as of March 31, 2023, representing 1.52% of the company's issued share capital[60] - The total number of shares available for issuance under the Post-IPO Share Option Plan is 154,975,020 shares as of March 31, 2023, representing 6.94% of the company's issued share capital[68] - The weighted average closing price of shares immediately before the exercise date of the options was HKD 3.36[63] - The exercise price for the Pre-IPO Share Option Plan is set at no less than 100% of the fair market value of a share on the grant date, or 110% for individuals holding more than 10% of the company's voting rights[57] - The vesting period for the Pre-IPO Share Option Plan is four years from the grant date[58] - The Post-IPO Share Option Plan requires a payment of HKD 1 by the grantee upon acceptance of the option[64] - The maximum number of shares that may be issued upon exercise of all outstanding options under the Post-IPO Share Option Plan and any other plan shall not exceed 30% of the company's issued share capital[67] - The Pre-IPO Share Option Plan will remain in effect for 10 years from the date of adoption[61] - The Post-IPO Share Option Plan will remain in effect for 10 years from the date of adoption[69] - The company has granted stock options under the IPO Share Option Scheme, with details including exercise periods, exercise prices, and the number of options granted. For example, Mr. Wang was granted 112,000,000 options at an exercise price of HKD 5.00, with an exercise period from January 12, 2021, to January 12, 2031[70] - The company has set operational milestones for stock option vesting, including achieving a market capitalization of at least USD 10 billion and meeting at least nine operational milestones. The milestones include annual revenue exceeding USD 50 million to USD 250 million and adjusted EBITDA exceeding USD 10 million to USD 50 million[71][72] - The vesting conditions for stock options are tied to the company's market capitalization milestones, ranging from USD 2 billion to USD 10 billion, with corresponding HKD values and the number of options vesting at each milestone[73] - 50% of the stock options will vest on the first anniversary of the grant date, and the remaining 50% will vest in equal monthly installments over the following 12 months[73] - 20% of the stock options will vest on the first anniversary of the grant date, and the remaining 80% will vest in equal monthly installments over the following 48 months[74] - The closing price of the company's shares on July 7, 2022, was HKD 4.43, and the fair value of each granted stock option was HKD 2.08[74] - The weighted average closing price of the company's shares before the exercise date was HKD 3.36[74] - The company adopted a 10-year Share Award Plan in 2019 to incentivize and reward eligible individuals for their contributions to the company's growth and development, attract and retain talent, and align the interests of award holders with shareholders[75][76] - Eligible participants under the Share Award Plan include employees, directors, senior officers, consultants, and advisors of the company or its group members[77] - The Share Award Plan is effective for a 10-year period starting from May 6, 2019, and can be terminated early by the Board of Directors[78] - The total number of shares available for issuance under the share award plan as of March 31, 2023, and the report date was 183,686,207 and 195,206,907 shares, respectively, representing 8.67% and 8.74% of the company's issued share capital[81] - The company has not utilized any general authorization granted by shareholders to issue new shares since the adoption of the share award plan[81] - A total of 20,190,285 shares were granted under the share award plan, with 9,772,956 shares vested and 10,417,329 shares unvested as of December 31, 2022[82] - The fair value per share award at the grant date was HKD 4.52 for directors and HKD 1.67 for employees[83] - The weighted average closing price per share before the vesting date was HKD 1.86[83] - Mr. Wang holds 415,961,920 shares, representing approximately 18.63% of the issued share capital[85] - Mr. Wargo holds 91,829,521 shares, representing approximately 4.11% of the issued share capital[85] - Mr. Matsuzawa holds 10,178,571 shares, representing approximately 0.46% of the issued share capital[85] - Mr. Wang Weijun holds 2,523,165 shares, representing approximately 0.11% of the issued share capital[85] - Mr. Chu and Mr. Eesley each hold 123,165 shares, representing approximately 0.01% of the issued share capital[85] - Major shareholders include LU Jian, who holds 127,011,920 shares, representing approximately 5.69% of the issued share capital[89] - Antfin (Hong Kong) Holding Limited, indirectly controlled by Ant Group, holds 115,606,936 shares, representing 5.18% of the issued share capital[89] Operational and Financial Highlights - The company reported a total comprehensive loss of HK$35,187 thousand, compared to a loss of HK$17,774 thousand in the same period in 2022[93] - Exchange differences on translation of foreign operations contributed to a significant other comprehensive loss of HK$69,115 thousand[93] - The company did not engage in any purchase, sale, or redemption of its listed securities during the six months ended June 30, 2023[91] - Total assets decreased slightly from 1,996,402 thousand HKD in 2022 to 1,993,336 thousand HKD in 2023[94] - Current assets increased from 1,263,923 thousand HKD in 2022 to 1,416,341 thousand HKD in 2023, driven by a significant rise in trade receivables from 686,151 thousand HKD to 958,365 thousand HKD[94] - Current liabilities decreased from 1,054,216 thousand HKD in 2022 to 724,246 thousand HKD in 2023, primarily due to a reduction in interest-bearing borrowings from 652,654 thousand HKD to 57,556 thousand HKD[94] - Net current assets improved significantly from 209,707 thousand HKD in 2022 to 692,095 thousand HKD in 2023[94] - Total equity increased from 1,673,635 thousand HKD in 2022 to 2,121,804 thousand HKD in 2023, reflecting growth in reserves from 1,563,311 thousand HKD to 1,984,062 thousand HKD[95] - Non-current liabilities increased from 532,474 thousand HKD in 2022 to 563,627 thousand HKD in 2023, mainly due to higher interest-bearing borrowings and convertible bonds[95] - The company's share capital increased from 417 thousand HKD in 2022 to 440 thousand HKD in 2023, while treasury shares decreased from (79,893) thousand HKD to (51,074) thousand HKD[95] - The company reported a net profit of 29,163 thousand HKD for the period, compared to a net loss of (33,763) thousand HKD in the previous period[96] - Foreign exchange losses amounted to (62,926) thousand HKD, impacting the company's comprehensive income[96] - The company issued new shares during the period, contributing to an increase in share premium from 1,405,598 thousand HKD to 1,870,505 thousand HKD[96] - Operating cash flow increased to HKD 108.7 million in 2023 from HKD 13.4 million in 2022, driven by higher profit before tax and adjustments for financing costs and depreciation[97] - The company issued shares raising HKD 464.3 million in 2023, compared to no share issuance in 2022, indicating a strategic move to strengthen its financial position[99] - Interest-bearing borrowings decreased significantly, with repayments of HKD 602.2 million in 2023, compared to no repayments in 2022[99] - The company's cash and cash equivalents increased to HKD 248.2 million as of June 30, 2023, up from HKD 226.5 million at the beginning of the period[99] - The company's non-current assets in the United States slightly decreased to HKD 625.4 million as of June 30, 2023, from HKD 626.0 million at the end of 2022[106] - The company's total non-current assets stood at HKD 1,712.6 million as of June 30, 2023, showing minimal change from HKD 1,709.1 million at the end of 2022[106] - Revenue from major customers (Customer A, B, and C) accounted for over 10% of the group's total revenue, with Customer A contributing 160,658 thousand HKD and Customer B contributing 101,937 thousand HKD in the first half of 2023[108] - Total customer contract revenue

[0 -> 24] 尊敬的各位投资者分析师大家晚上好欢迎大家参加富博集团2023年中期业绩发布会本次发布会将分为两个环节在第一个环节中集团管理层将对公司近期业务发展情况进行介绍第二个环节是问答环节 [25 -> 54] 各位参会投资者和分析师可以通过电话或网络端进行提问在本次电话会议中管理层可能会做出前瞻性陈述前瞻性陈述包括但不限于关于预期意图估计和未来战略的陈述前瞻性陈述的例子包括行业趋势及受公共卫生事件的影响 [56 -> 83] 本次会议的前瞻性陈述不是未来事件或业绩的保证并受风险、不确定性和其他因素的影响也包括我们在监管文件中所描述的因素因此,未来的情况和事件以及我们未来的实际结果可能与任何前瞻性陈述中的描述有重大差异鉴于这些风险和不确定性 [83 -> 111] 我们在此提醒听众不要过分依赖本次电话会议的任何前瞻性陈述前瞻性陈述仅适用于今天我们没有义务公开发布前瞻性陈述的更新数据或修订版本首先让我们有请富国集团董事长王阳兵先生致辞有请王总各位投资者和分析师朋友们大家好我是王阳兵 [113 -> 139] 非常感谢大家参加富博集团2023年中期业绩发布会我仅代表公司董事会向各位投资者和朋友们对富博集团 ...