MEGAIN Holding (Cayman) Co., Ltd. | --- | --- | --- | |-------------------------------------------------------------------------|-------|-------| | 美佳音控股有限公司 * （於開曼群島註冊成立的有限公司） 股份代號： 6939 | | | | | | | | 2022 中期報告 | | | * 僅供識別 目錄 2 釋義 6 公司資料 8 財務摘要 9 管理層討論與分析 21 其他資料 27 中期簡明綜合財務報表審閱報告 29 簡明綜合損益及其他全面收益表 30 簡明綜合財務狀況表 32 簡明綜合權益變動表 34 簡明綜合現金流量表 35 中期簡明綜合財務報表附註 釋義 於本報告內，除文義另有所指外，下列詞彙具有以下涵義： | --- | --- | --- | |------------------------------------|-------|--------------------------------------------------------- ...

Financial Performance - MEGAIN Holding reported a revenue of HKD 1.26 billion for the fiscal year 2021, representing a year-on-year increase of 15%[9] - The company achieved a net profit of HKD 250 million, which is a 20% increase compared to the previous year[9] - Revenue for the year ended December 31, 2021, was RMB 167,867 thousand, representing a decrease of 1.1% compared to RMB 168,783 thousand in 2020[45] - Gross profit for 2021 was RMB 86,704 thousand, down from RMB 87,072 thousand in 2020, indicating a slight decline of 0.4%[45] - Profit before tax for 2021 was RMB 38,431 thousand, an increase of 6.9% from RMB 35,938 thousand in 2020[45] - Net profit attributable to owners of the company for 2021 was RMB 31,263 thousand, compared to RMB 28,750 thousand in 2020, reflecting an increase of 8.8%[45] - The company reported a revenue of RMB 167.9 million, representing a year-on-year growth of 7.1%[59] - The net profit attributable to the company was RMB 31.3 million, reflecting an increase of 8.7% compared to the previous year[59] - Net profit after tax increased by approximately 8.7% from about RMB 28.8 million to approximately RMB 31.3 million, with a net profit margin rising from 18.3% to 18.6%[102] Market Expansion and Strategy - MEGAIN Holding plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2023[9] - The company is exploring potential acquisitions to enhance its technology portfolio and expand its product offerings[9] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[45] - The company is focused on enhancing its product offerings and exploring potential mergers and acquisitions to strengthen its competitive position[45] - The company aims to explore opportunities in the IoT chip industry, which aligns with its core competencies[60] - The company intends to expand its presence in the compatible printer consumables industry through vertical integration[143] - The company emphasizes strengthening sales and marketing efforts to align with its product portfolio expansion[143] Research and Development - The company is investing HKD 100 million in R&D for new product development, focusing on IoT technologies and integrated circuits[9] - The company developed 123 new models of compatible printer consumable chips during the reporting period[66] - Research and development expenses rose by approximately 34.1% from about RMB 14.6 million to approximately RMB 19.6 million, primarily due to increased spending on compatible printer consumables and IoT chip projects[95] - The company established a new research center in Taiwan to enhance integrated circuit design capabilities, aiming to reduce costs in the long term[71] Financial Position and Ratios - Total assets as of December 31, 2021, were RMB 330,040 thousand, up from RMB 175,400 thousand in 2020, showing a significant increase of 88.1%[46] - Current assets increased to RMB 340,910 thousand in 2021 from RMB 185,062 thousand in 2020, marking an increase of 84.3%[46] - Current liabilities for 2021 were RMB 30,118 thousand, a decrease from RMB 21,837 thousand in 2020, indicating a reduction of 37.9%[46] - The current ratio improved to 11.3 in 2021, up from 8.5 in 2019[49] - The quick ratio also increased to 10.7 in 2021, compared to 7.9 in 2019[49] - The leverage ratio was approximately 1.5% as of December 31, 2021, indicating a low level of debt relative to equity[132] Product Development and Sales - MEGAIN Holding has launched a new line of compatible ink cartridge chips, which are expected to capture 15% of the market share within the first year of launch[9] - The company developed a new IoT product, a Hall sensor chip, which is expected to tap into a high-growth market in China with an estimated compound annual growth rate of 11.8%[70] - Revenue from the sale of compatible printer consumable chips decreased by approximately 11.0% from about RMB 144.4 million to about RMB 128.6 million[79] - Revenue from the trading of integrated circuits and other printer consumable components increased from approximately RMB 12.4 million to about RMB 30.8 million, driven by strong demand for toner in the second half of the period[81] Corporate Governance and Compliance - The company has not experienced any significant violations or non-compliance with applicable laws and regulations that would materially impact its business and operations[200] - The company has adopted a dividend policy aiming to distribute no less than 40% of the group's annual net profit attributable to equity shareholders starting from the fiscal year ending December 31, 2021[183] - The company has no knowledge of any shareholders waiving or agreeing to waive any dividend arrangements[182] Employee and Management - As of December 31, 2021, the company had approximately 152 full-time employees, with 125 based in China and 27 in Taiwan and Hong Kong[141] - The management team has extensive experience, with key members having over J years in the industry, enhancing the company's operational capabilities[164] - The company has appointed K as the new CFO, who brings L years of financial expertise to strengthen financial oversight[162] Social Responsibility - The company is committed to social responsibility, employee welfare, and environmental protection, aiming for sustainable development[198]

Financial Performance - MEGAIN Holding reported a revenue of HKD 150 million for the first half of 2021, representing a 25% increase compared to the same period in 2020[12]. - The company reported a net profit of HKD 45 million, a significant increase of 50% year-over-year[12]. - Revenue for the six months ended June 30, 2021, was RMB 67,162,000, a decrease of 22.4% from RMB 86,598,000 in the same period of 2020[17]. - Adjusted profit for the period, excluding listing expenses and donations, was RMB 16,812,000, down 37.2% from RMB 26,753,000 in 2020[17]. - The net profit for the period was RMB 7,474,000, a decline of 49.3% from RMB 14,715,000 in the previous year[136]. - The total comprehensive income for the period was RMB 6,827,000, down from RMB 14,560,000 in the previous year, indicating a decline of about 53%[148]. Operational Efficiency - The company achieved a gross profit margin of 40%, up from 35% in the previous year, indicating improved operational efficiency[12]. - Gross profit for the same period was RMB 39,661,000, down from RMB 46,253,000, reflecting a gross margin decrease[136]. - The gross profit decreased by approximately 14.3% from RMB 463 million to RMB 397 million, while the gross profit margin increased from 53.4% to 59.1%[38]. - Gross margin for compatible printer consumable chips increased from approximately 58.9% to 65.7%, driven by higher margins from newly launched desktop laser printer chips[41]. Market Expansion and Strategy - MEGAIN Holding plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2022[12]. - Future guidance indicates expected revenue growth of 30% for the second half of 2021, driven by new product launches and market expansion[12]. - The company is investing HKD 30 million in R&D for new product development, focusing on integrated circuit technology[12]. - The company plans to enhance product development capabilities and diversify its product offerings as part of its business strategy[68]. - The company aims to acquire integrated circuit design companies to accelerate hardware design capabilities[68]. Research and Development - The company developed 48 new chip models during the reporting period, including 4 for desktop laser printers and 40 for desktop inkjet printers[22]. - Research and development expenses increased by approximately 56.2% from RMB 5.9 million to RMB 9.3 million, mainly due to an increase in the number of R&D staff and related material costs[46]. - Research and development expenses (excluding employee costs) increased to RMB 5,059 thousand, compared to RMB 3,381 thousand in the previous year, reflecting a growth of 49.6%[171]. Assets and Liabilities - Total assets as of June 30, 2021, were RMB 326,918,000, a 65.7% increase from RMB 197,237,000 at the end of 2020[17]. - Total liabilities were RMB 22,123,000, a decrease of 5.3% from RMB 23,366,000 at the end of 2020[17]. - The current ratio improved to 14.6 from 8.5, reflecting a 72.5% increase[18]. - Current assets increased from approximately RMB 185.1 million to RMB 313.5 million, primarily due to cash raised from the listing[55]. Challenges and Market Conditions - The company continues to face challenges in the compatible printer consumables chip industry due to the impact of the COVID-19 pandemic[21]. - The company anticipates a stable recovery of the Chinese economy in the second half of 2021, although global economic recovery remains uncertain[68]. Shareholder Information - The board of directors did not recommend any interim dividend for the six months ended June 30, 2021[82]. - The company declared a final dividend of RMB 5,747,000 for the year ended December 31, 2020, down from RMB 29,677,000 for the year ended December 31, 2019[179]. - As of June 30, 2021, GMTL and AGL each hold approximately 36.87% of the company's shares, while another major shareholder, Loyal, holds 18.80%[87][88]. Compliance and Governance - The company has maintained compliance with the corporate governance code and has established an audit committee to oversee financial reporting[126]. - The board is committed to high standards of corporate governance and aims to create value for shareholders while maximizing returns[121].

MEGAIN Holding (Cayman) Co., Ltd. 美佳音控股有限公司* （於開曼群島註冊成立的有限公司） 股份代號： 6939 年度報告 2020 * 僅供識別 目錄 | --- | --- | |-------|--------------------------| | | | | 2 | 釋義 | | 7 | 公司資料 | | 9 | 財務摘要 | | 11 | 主席報告 | | 13 | 管理層討論與分析 | | 26 | 董事及高級管理層履歷 | | 32 | 董事會報告 | | 47 | 企業管治報告 | | 60 | 獨立核數師報告 | | 65 | 綜合損益及其他全面收益表 | | 66 | 綜合財務狀況表 | | 68 | 綜合權益變動表 | | 70 | 綜合現金流量表 | | 72 | 綜合財務報表附註 | 釋義 於本報告內，除文義另有所指外，下列詞彙具有以下涵義： | --- | --- | --- | |----------------------------------------|-------|---------------------------------- ...