Business Environment and Strategy - In 2022, the Group faced a challenging business environment due to weak global economic recovery, the COVID-19 pandemic, and the Russia-Ukraine war, leading to increased production costs and decreased gross profit[19] - The Group adjusted its business strategy by outsourcing part of the production process to less affected areas, ensuring timely product delivery despite rising costs[19] - The Group aims to optimize sales strategies to achieve growth in existing markets and explore emerging markets with potential[20] - The focus will be on innovation-driven product diversification, enhancing production capacities, and improving talent team building for product development[20] - The Group plans to intensify quality control standards and licensing of intellectual property rights across various product design fields, including smart toy vehicles and metaverse-related products[20] - The Group plans to optimize sales strategies to achieve growth in existing markets and breakthroughs in growth potential markets[22] - The Group is exploring the domestic toy retail market and intends to combine its own brand with foreign brand products in physical store management[25] - The Group anticipates a recovery in domestic consumption and aims to capitalize on the opportunities presented by the central government's focus on expanding domestic demand[25][27] - The Group's smart interactive toys category was largely inactive in FY2022, with most products not produced or sold under co-branded categories[37] - The Group aims to seek collaboration opportunities with well-known brands to enhance product marketability[45] - The Group plans to explore the development of the domestic toy retail market in China, focusing on strong domestic consumption[117] - The Group aims to prioritize the Chinese market by maintaining relationships with existing overseas customers and expanding its customer base[119] - The Group plans to diversify its product offerings through continuous development of new products and a global licensing strategy[119] - The Group intends to expand its production capacity and improve production efficiency[119] - The Group will allocate more resources to enhance sales in domestic and Asian markets[119] Financial Performance - The Group's total revenue decreased by approximately 40.3% from approximately RMB 283.8 million in FY2021 to approximately RMB 169.4 million in FY2022, primarily due to the impact of COVID-19 and forced office closures in China[30][32] - Revenue from smart toy vehicles dropped from RMB 166.6 million in FY2021 to RMB 41.3 million in FY2022, indicating a significant decline in this product category[34] - Traditional toys generated revenue of RMB 88.9 million in FY2022, down from RMB 104.1 million in FY2021, reflecting a decrease in sales[34] - The Group's gross profit decreased from approximately RMB80.8 million in FY2021 to approximately RMB28.3 million in FY2022, representing a decrease of approximately 65.0%[51] - The gross profit margin decreased by approximately 11.8% from approximately 28.5% in FY2021 to approximately 16.7% in FY2022[51] - The Group's net profit turned into a loss of approximately RMB76.7 million in FY2022, down from a profit of approximately RMB26.1 million in FY2021[52] - Administrative expenses increased by approximately 80.8% from approximately RMB42.1 million in FY2021 to approximately RMB76.1 million in FY2022, mainly due to share-based payments of approximately RMB29.4 million[54] - Net impairment losses on trade and other receivables increased significantly from approximately RMB5.4 million in FY2021 to approximately RMB24.0 million in FY2022, representing an increase of approximately 3.4 times[61] - The Group's cash and cash equivalents decreased to approximately RMB6.2 million from approximately RMB286.5 million, primarily due to the deployment of approximately RMB210.0 million in working capital for sales of raw materials and electronic parts[69][73] Operational Metrics - The average inventory turnover period improved to approximately 44.1 days in FY2022 from approximately 66.1 days in FY2021, reflecting enhanced production control[70][74] - Trade receivables increased significantly from approximately RMB117.0 million as of December 31, 2021, to approximately RMB327.5 million as of December 31, 2022, with average turnover days rising from approximately 125.3 days to approximately 273.2 days[71][74] - Trade and other payables rose by approximately RMB24.2 million or approximately 16.7%, from approximately RMB144.6 million to approximately RMB168.8 million, with average turnover days increasing from approximately 90.4 days to approximately 184.4 days[72][74] - Bank and other borrowings decreased to approximately RMB139.8 million from approximately RMB155.3 million, with a weighted average effective interest rate rising to approximately 7.9% from approximately 5.2%[77][81] Corporate Governance - The Group is committed to sound corporate governance to enhance accountability and transparency, protecting shareholder interests[121] - The Board of Directors is responsible for the overall management and strategic direction of the Group, ensuring effective supervision and guidance[126] - The Group has complied with the Corporate Governance Code, with a noted deviation regarding the roles of chairman and CEO being held by the same individual[122] - The Board will regularly review the need to separate the roles of chairman and CEO to maintain good corporate governance[124] - The Board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[134] - As of December 31, 2022, the Board achieved gender diversity with 33.3% female representation, having two female members and four male members[138] - The age structure of the Board is reasonable, with four directors aged 35 to 50 and two directors aged 51 to 60[138] - The Board held 12 meetings during FY2022 to discuss and approve the Company's operations and business development[148] - As of December 31, 2022, 43% of the Company's colleagues are female, reflecting a commitment to a diverse and inclusive work environment[142] - The Board has adopted a diversity policy to ensure a balanced composition that supports the execution of its business strategy[137] - The Board members possess a wide range of professional experience, including corporate strategic planning, management, and finance[138] - The Company has received annual confirmations of independence from its independent non-executive directors, ensuring compliance with listing rules[134] - The Board is committed to further improving gender diversity as suitable candidates are identified[141] - The Board's diversity policy will be reviewed regularly to ensure its continued effectiveness[139] Risk Management and Compliance - The Group's financial risk management is overseen by the treasury department, ensuring sufficient financial resources to meet obligations[96] - The ongoing geopolitical tensions and inflation are expected to impact global economic conditions, increasing the risk of recession[46] - The Group recognizes the ongoing pressures on the global economy due to geopolitical tensions, inflation, and supply chain disruptions, which may slow global trade and increase recession risks[118] - The Group has adopted a three-tier risk management approach to identify, assess, and manage different types of risks[188] - The Board considers the risk management and internal control systems to be generally effective and adequate in all material respects[193] - The Group's internal control system is designed to provide reasonable assurance against material misstatement or loss[188] - The Company will continue to engage external professional advisers to enhance its internal control system as necessary[193] Shareholder Communication and Meetings - The next annual general meeting of the Company is scheduled for July 28, 2023, with notice to be sent to shareholders at least 20 clear business days prior[198] - The Company emphasizes the importance of communication with shareholders, proposing separate resolutions for substantial issues at shareholder meetings[197] - The Audit Committee reviews the adequacy of resources and qualifications of the accounting and internal audit functions annually[189] Audit and Remuneration Committees - The company held three Audit Committee meetings during FY2022 to review accounting principles, financial results for FY2021, and the effectiveness of internal controls and risk management systems[167] - The Remuneration Committee held two meetings in FY2022 to determine the remuneration policy for executive Directors and assess their performance[171] - The annual remuneration for senior management in FY2022 is categorized by bands, with the lowest band being Nil to HKD 1,000,000[173] - The Nomination Committee conducted two meetings in FY2022 to review the Board's structure and assess the independence of independent non-executive Directors[177] - A nomination policy was adopted in FY2022 to enhance the selection process for Director candidates, focusing on qualifications, skills, and diversity[176] - The external independent consultant reviewed the Group's internal control systems and found them generally effective for FY2022[189] - The total auditor's remuneration for FY2022 amounted to RMB 1,100,000, including RMB 1,000,000 for audit services and RMB 100,000 for interim report review services[196]

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。 Kidztech Holdings Limited 奇 士 達 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：6918） 截至二零二二年十二月三十一日止年度 之經審核年度業績公告 奇士達控股有限公司（「本公司」）的董事（「董事」）會（「董事會」）欣然公佈本公 司及其附屬公司截至二零二二年十二月三十一日止年度的經審核綜合年度業績。 載有本公司二零二二年年度報告全文的本公告符合香港聯合交易所有限公司（「聯 交所」）證券上市規則（「上市規則」）有關年度業績公告附載資料的相關規定。 承董事會命 奇士達控股有限公司 主席 余煌 ...

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