Financial Performance - For the three months ended September 30, 2022, the company reported revenue of HKD 33,020,000, a slight increase from HKD 32,991,000 in the same period of 2021, representing a growth of 0.09%[4] - For the nine months ended September 30, 2022, total revenue reached HKD 94,795,000, up 28.5% from HKD 73,759,000 in the same period of 2021[4] - The company's profit before tax for the three months ended September 30, 2022, was HKD 7,354,000, down 25.0% from HKD 9,803,000 in the same period of 2021[4] - The net profit for the nine months ended September 30, 2022, was HKD 18,518,000, an increase of 62.8% compared to HKD 11,389,000 in the same period of 2021[4] - The basic and diluted earnings per share for the three months ended September 30, 2022, were HKD 0.77, down from HKD 1.07 in the same period of 2021[4] - The company reported a total comprehensive income of HKD 5,858,000 for the three months ended September 30, 2022, compared to HKD 8,600,000 in the same period of 2021, a decrease of 31.5%[4] Revenue Breakdown - Revenue from recruitment services in Hong Kong for the three months ended September 30, 2022, was HKD 22,769,000, an increase of 27.0% from HKD 17,853,000 in the same period of 2021[13] - Revenue from dispatch and payroll services in Hong Kong for the three months ended September 30, 2022, was HKD 5,201,000, a decrease of 26.1% from HKD 7,041,000 in the same period of 2021[13] - Revenue from Hong Kong operations increased by approximately HKD 17,527,000 or 42.9% to about HKD 58,393,000 for the nine months ended September 30, 2022, compared to HKD 40,866,000 for the same period in 2021[25] - Revenue from mainland China operations grew from approximately HKD 12,628,000 for the nine months ended September 30, 2021, to about HKD 19,111,000 for the same period in 2022, an increase of approximately HKD 6,483,000 or 51.3%[27] - Revenue from recruitment services rose by approximately HKD 24,010,000 or 44.9% to about HKD 77,504,000 for the nine months ended September 30, 2022, from approximately HKD 53,494,000 in the previous year[34] Costs and Expenses - The company incurred financing costs of HKD 105,000 for the three months ended September 30, 2022, compared to HKD 31,000 in the same period of 2021, an increase of 238.7%[14] - The internal employee costs increased by approximately HKD 12,116,000 or 41.0%, primarily due to the expansion of business scale in Hong Kong and mainland China[40] - Employee costs for the nine months ended September 30, 2022, were approximately HKD 57,258,000, accounting for about 60.4% of revenue, down from 65.1% in the previous year[38] Tax and Dividends - The effective tax rate for Hong Kong profits tax is 8.25% for the first HKD 2 million of assessable profits and 16.5% for profits exceeding that amount[16] - The company did not recommend an interim dividend for the nine months ended September 30, 2022, compared to no dividend in the same period of 2021[18] - The company did not recommend the payment of an interim dividend for the nine months ended September 30, 2022[46] Business Strategy and Outlook - The company aims to expand its business in mainland China beyond the Greater Bay Area in the near future[20] - The demand for talent in the financial services sector remains strong, particularly in fintech and green finance, supporting the company's recruitment activities[24] - The company plans to continue investing resources to enhance its team and provide optimal services to clients[25] - The management believes that the company is well-positioned to capitalize on market opportunities due to the rebound of businesses in Hong Kong and expansion in mainland China[21] - The group plans to focus on industries with recovery potential, such as e-commerce, logistics, education, and real estate, for the remainder of 2022[31] - The group acknowledges the significant potential of its mainland China business and is considering expansion into other cities under appropriate conditions[30] - The group aims to enhance brand awareness through internal marketing teams and digital platforms[31] - The group maintains a cautious optimism regarding its overall performance in 2022, despite ongoing challenges from the pandemic[30] - The group will continue to seek opportunities for business expansion and strengthen overall business development[32] Financial Position - The total equity as of September 30, 2022, was HKD 70,141,000, an increase from HKD 50,740,000 as of December 31, 2021[5] - Total profit and comprehensive income increased by approximately HKD 6,449,000 or 56.4%, from approximately HKD 11,425,000 for the nine months ended September 30, 2021, to approximately HKD 17,874,000 for the nine months ended September 30, 2022[45] - Excluding government subsidies under the anti-epidemic fund, the total comprehensive income for the nine months ended September 30, 2022, would be approximately HKD 16,161,000, representing an increase of about HKD 4,736,000 or 41.5% compared to the previous period[45] Corporate Governance - As of September 30, 2022, the company’s directors and senior management collectively held 600,000,000 shares, representing approximately 75% of the issued share capital[48] - KJE Limited and Caiden Holdings Limited each held 600,000,000 shares, representing approximately 75% of the issued share capital, with KJE Limited being jointly owned by three directors[52] - No share options have been granted, exercised, cancelled, or lapsed under the share option scheme since its adoption on September 13, 2018[55] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2022[58] - The company has complied with the corporate governance code as set out in the GEM Listing Rules during the nine months ended September 30, 2022[60] - All directors confirmed compliance with the trading standards and relevant codes of conduct for securities transactions during the nine months ended September 30, 2022[61] - The Audit Committee consists of three independent non-executive directors, chaired by Mr. Pan Kai-kin[64] - The Audit Committee's responsibilities include reviewing financial statements and overseeing internal control procedures[64] - The unaudited condensed consolidated financial statements for the nine months ended September 30, 2022, were reviewed by the Audit Committee[64]

Financial Performance - For the three months ended June 30, 2022, the revenue was HKD 32,525,000, representing a 45% increase from HKD 22,462,000 in the same period of 2021[4] - For the six months ended June 30, 2022, the revenue reached HKD 61,775,000, up 51.6% from HKD 40,768,000 in the same period of 2021[4] - The net profit for the six months ended June 30, 2022, was HKD 12,378,000, a significant increase of 343% compared to HKD 2,797,000 in the same period of 2021[4] - The total comprehensive income for the six months ended June 30, 2022, was HKD 12,016,000, compared to HKD 2,825,000 for the same period in 2021, marking a 325% increase[4] - Basic earnings per share for the six months ended June 30, 2022, were HKD 15.47, compared to HKD 3.49 in the same period of 2021[28] - Total comprehensive income increased by approximately HKD 9,191,000 or 325.3% to about HKD 12,016,000 for the six months ended June 30, 2022, compared to approximately HKD 2,825,000 for the same period in 2021[74] Revenue Breakdown - Revenue from recruitment services in Hong Kong was HKD 35,624,000, up 54.8% from HKD 23,013,000 year-on-year[16] - Revenue from recruitment services in China increased to HKD 14,641,000, a significant rise of 177.5% compared to HKD 5,267,000 in the previous year[16] - Recruitment service revenue increased by approximately HKD 21,985,000 or 77.7% to about HKD 50,265,000 for the six months ended June 30, 2022, compared to approximately HKD 28,280,000 for the same period in 2021[66] - Revenue from Hong Kong operations increased significantly from approximately HKD 23,013,000 for the six months ended June 30, 2021, to approximately HKD 35,624,000 for the six months ended June 30, 2022, a rise of approximately HKD 12,611,000 or 54.8%[57] - Revenue from mainland China operations grew from approximately HKD 5,267,000 for the six months ended June 30, 2021, to approximately HKD 14,641,000 for the six months ended June 30, 2022, an increase of approximately HKD 9,374,000 or 178.0%[59] Assets and Liabilities - The total assets as of June 30, 2022, were HKD 86,831,000, compared to HKD 75,999,000 as of December 31, 2021, reflecting a growth of 14.4%[5] - The total liabilities decreased from HKD 19,478,000 as of December 31, 2021, to HKD 16,504,000 as of June 30, 2022, indicating a reduction of approximately 15.4%[6] - The company’s non-current assets increased to HKD 15,595,000 as of June 30, 2022, from HKD 10,677,000 as of December 31, 2021, showing a growth of 46.2%[5] - As of June 30, 2022, accounts receivable amounted to HKD 19,477,000, an increase from HKD 17,830,000 as of December 31, 2021, representing a growth of approximately 9.2%[33] - Total accounts receivable and other receivables reached HKD 25,592,000 as of June 30, 2022, compared to HKD 20,421,000 as of December 31, 2021, indicating a growth of about 25.5%[33] Cash Flow and Expenses - The company reported a decrease in operating cash flow usage to HKD 5,424,000 for the six months ended June 30, 2022, compared to a usage of HKD 3,388,000 in the same period of 2021[9] - The company incurred total financing costs of HKD 184,000 for the six months ended June 30, 2022, compared to HKD 38,000 in the previous year[22] - The total tax expense for the six months ended June 30, 2022, was HKD 1,743,000, an increase from HKD 715,000 in the same period of 2021[25] - Employee costs amounted to approximately HKD 37,499,000, representing 60.7% of revenue, a decrease from 73.7% in the previous year, with internal employee costs increasing by approximately HKD 8,328,000 or 44.3%[70] - Other expenses increased by approximately HKD 2,402,000 to about HKD 10,133,000, primarily due to business expansion costs related to operations in Hong Kong and mainland China[71] Corporate Governance and Compliance - The company has complied with the corporate governance code provisions as set out in the GEM Listing Rules during the six months ended June 30, 2022[103] - The company has adopted the trading standards as per GEM Listing Rules sections 5.48 to 5.67, confirming compliance by all directors for the six months ending June 30, 2022[104] - The Audit Committee, established on September 13, 2018, consists of three independent non-executive directors, with Mr. Pan Kai-kin as the chairman, overseeing financial reporting and internal controls[105] - The unaudited condensed consolidated financial statements for the six months ending June 30, 2022, have been reviewed by the Audit Committee, which provided opinions and recommendations[105] Future Outlook and Strategy - The company aims to leverage the post-COVID-19 recovery in Hong Kong to enhance its business performance and expand its operations in mainland China[52] - The company plans to focus on industries with recovery potential, such as e-commerce, logistics, education, and real estate in 2022[63] - The company aims to enhance its internal marketing teams in Hong Kong and mainland China to improve brand awareness through digital and social media platforms[63] - The company is committed to investing in dedicated teams in Hong Kong's financial services and information technology sectors, while closely monitoring performance and returns[63] - The company intends to strengthen its recruitment strategies to attract and retain high-quality talent essential for long-term organic growth[63]

Financial Performance - The company reported revenue of HKD 29,250,000 for the three months ended March 31, 2022, representing a 60% increase from HKD 18,306,000 in the same period of 2021[4] - The profit before tax for the period was HKD 5,513,000, compared to a loss of HKD 682,000 in the previous year[4] - The net profit for the first quarter of 2022 was HKD 4,942,000, a significant turnaround from a loss of HKD 753,000 in Q1 2021[4] - Earnings per share for the period were HKD 0.62, compared to a loss per share of HKD 0.09 in the same quarter last year[4] - Total comprehensive income for the period was HKD 4,985,000, compared to a comprehensive loss of HKD 790,000 in the same quarter of 2021[4] - The company's revenue increased from approximately HKD 18,306,000 in the three months ended March 31, 2021, to approximately HKD 29,250,000 in the same period of 2022, representing a growth of about HKD 10,944,000 or 59.8%[23] - The net profit for the three months ended March 31, 2022, was approximately HKD 4,942,000, compared to a net loss of approximately HKD 753,000 for the same period in 2021[23] - Recruitment service revenue rose by approximately HKD 11,995,000 or 100.5% to HKD 23,935,000 in Q1 2022, driven by the recovery of the Hong Kong recruitment market and expansion in mainland China[34] - The company recorded a net profit of approximately HKD 4,985,000 in Q1 2022, an increase of approximately HKD 5,775,000 from a net loss of HKD 790,000 in Q1 2021, mainly due to increased revenue from mainland China and Hong Kong recruitment services[42] Revenue Breakdown - Revenue from recruitment services in Hong Kong increased to HKD 16,469,000, up from HKD 9,863,000 year-over-year, marking a 67% growth[14] - Revenue from recruitment services in China rose to HKD 7,466,000, a substantial increase from HKD 2,077,000, reflecting a 259% growth[14] - Revenue from Hong Kong accounted for approximately 72.6% of total revenue in Q1 2022, down from 84.6% in the previous year[35] - The financial services and information technology sectors contributed approximately 21.7% and 11.7% respectively to the recruitment service revenue in Hong Kong[24] - Revenue from recruitment services in Hong Kong increased from approximately HKD 9,863,000 in the three months ended March 31, 2021, to approximately HKD 16,469,000 in the same period of 2022, marking a rise of about HKD 6,606,000 or 67.0%[27] - Revenue from the mainland China business surged from approximately HKD 2,077,000 in the three months ended March 31, 2021, to approximately HKD 7,466,000 in the same period of 2022, a significant increase of about HKD 5,389,000 or 259.5%[28] Operational Focus - The company continues to focus on expanding its recruitment services in Hong Kong, Macau, and mainland China, aiming to capture a larger market share[8] - The company aims to expand its operations in the Greater Bay Area, focusing on technology, consumer, and real estate sectors in Shenzhen and Guangzhou[29] - The company has established offices in Hong Kong, Shenzhen, and Guangzhou, with plans to further grow and expand its team[20] - The company plans to focus on industries with recovery potential, such as e-commerce, logistics, education, and real estate in 2022[33] - The company aims to maintain a strong cash flow and manage liquidity prudently while enhancing its internal marketing teams in Hong Kong and mainland China[33] - The company will continue to explore potential investment opportunities that provide good returns or synergies with its core business[33] Shareholding and Governance - As of March 31, 2022, the company’s directors and senior management collectively hold 600,000,000 shares, representing approximately 75% of the issued share capital[45] - KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, also accounting for approximately 75% of the issued share capital[49] - The shareholding structure indicates that KJE Limited is owned equally by the three directors, each holding about 33.33%[47] - The board consists of three executive directors and three independent non-executive directors[64] - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[57] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2022, and provided recommendations[62] Dividend and Taxation - The company does not recommend the payment of an interim dividend for the three months ended March 31, 2022[18] - The company has not recommended any interim dividend for Q1 2022, consistent with the previous year[43] - The effective tax rate for Hong Kong profits tax is 16.5%, with a two-tiered system for qualifying group entities[5] - The company has not made any provisions for Macau supplementary tax as its subsidiary did not exceed the taxable profit threshold[17] Other Information - The company incurred financing costs of HKD 72,000, up from HKD 20,000 in the previous year, indicating increased financial obligations[15] - Employee costs for Q1 2022 were approximately HKD 17,843,000, representing 61.0% of revenue, a decrease from 82.4% in Q1 2021[37] - No stock options have been granted, exercised, canceled, or lapsed since the adoption of the stock option plan on September 13, 2018, with no unexercised options as of March 31, 2022[52] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2022[55] - There were no arrangements made for directors to acquire shares or bonds of the company or its subsidiaries during the reporting period[54] - The company confirmed that all directors adhered to the trading standards and guidelines during the three months ended March 31, 2022[59] - No interests were held by directors or major shareholders in any competing businesses during the reporting period[56] - The first quarter earnings report for 2022 was released[65]

Financial Performance - The company's revenue increased by approximately HKD 43.6 million or 66.8% to about HKD 108.9 million for the year ended December 31, 2021, compared to approximately HKD 65.3 million in 2020[9]. - The net profit for the year ended December 31, 2021, was approximately HKD 12,804,000, compared to a net loss of approximately HKD 1,617,000 for the previous year[16]. - The company's revenue increased from approximately HKD 65,285,000 in 2020 to approximately HKD 108,948,000 in 2021, representing a growth of 66.9%[16]. - Revenue from recruitment services was approximately HKD 79,122,000, accounting for about 72.6% of total revenue, a significant increase from approximately HKD 41,357,000 or 63.4% in the previous year[31]. - Employee costs for the year ended December 31, 2021, were approximately HKD 77,698,000, accounting for about 71.3% of revenue, a decrease from 87.6% in the previous year[38]. - The company recovered from a net loss of approximately HKD 7,368,000 for the year ended December 31, 2020, to a net profit of approximately HKD 12,952,000 for the year ended December 31, 2021[42]. Revenue Sources - Revenue from recruitment services in Hong Kong rose by approximately HKD 26.8 million or 76.6% to about HKD 61.8 million for the year ended December 31, 2021, up from approximately HKD 35 million in 2020[9]. - Recruitment service revenue in mainland China surged by 171.9% to approximately HKD 17.4 million in 2021, compared to about HKD 6.4 million in 2020[9]. - Revenue from the company's outsourcing services in Hong Kong increased by 26.5%, from approximately HKD 21,176,000 in 2020 to approximately HKD 26,786,000 in 2021[20]. - Revenue from mainland China grew significantly by 171.9%, from approximately HKD 6,383,000 in 2020 to approximately HKD 17,355,000 in 2021[21]. - Revenue from dispatch and payroll services increased by approximately HKD 5,898,000 or 24.6% to about HKD 29,826,000, representing about 27.4% of total revenue[33]. Business Strategy and Outlook - The company aims to capitalize on the strong growth in mainland China and expand its business beyond the Greater Bay Area in 2022[11]. - The company will seek business opportunities in human resources-related services to maximize synergy among internal teams[11]. - The company plans to maintain a cautiously optimistic approach in 2022, considering the ongoing impact of COVID-19 variants[11]. - The company is optimistic about its performance in 2022, despite potential challenges from the Omicron variant, and expects to continue benefiting from the growth in mainland China[24]. - The company aims to enhance its team quality and brand recognition through structured training and marketing efforts[25]. Operational Costs and Expenses - Internal staff costs increased by approximately HKD 14.7 million or 41.6% to about HKD 50 million for the year ended December 31, 2021, from approximately HKD 35.3 million in 2020[10]. - Other expenses and losses rose by approximately HKD 1,333,000 to about HKD 16,226,000, mainly due to business expansion costs in Hong Kong and mainland China[39]. - Internal employee costs increased by approximately HKD 14,762,000 or 41.8%, primarily due to business expansion in mainland China and Hong Kong[38]. Corporate Governance and Compliance - The company has adopted a share option scheme since September 13, 2018, with no options granted, exercised, canceled, or lapsed since its adoption[104]. - The company has maintained at least 25% of its issued shares as sufficient public float as of December 31, 2021[137]. - The company adhered to the GEM Listing Rules and Corporate Governance Code, with no significant deviations reported for the year ending December 31, 2021[149]. - The independent non-executive directors confirmed their independence according to GEM Listing Rules, ensuring compliance with the independence guidelines[154]. - The company has implemented appropriate insurance arrangements for potential legal claims against directors and senior management[158]. Risk Management - The company acknowledges significant operational risks, including reliance on key management personnel and potential labor shortages impacting financial performance[85]. - The company has identified and assessed significant risks based on management's experience in the business environment, with a focus on liquidity, fraud, financial reporting, operational, and compliance risks[181]. - As of December 31, 2021, the company did not have an internal audit function but has engaged an external professional firm for annual reviews of its risk management and internal control systems[181]. Shareholder Information - The company did not recommend the payment of a final dividend for the year ended December 31, 2021, consistent with the previous year[44]. - The company’s distributable reserves as of December 31, 2021, amounted to approximately HKD 2,327,000, an increase from HKD 2,200,000 in 2020[96]. - The company made charitable donations totaling HKD 140,000 for the year ended December 31, 2021, compared to HKD 2,000 in the previous year[94]. Liquidity and Financial Position - The company maintained a strong liquidity position and prudently managed cash flow[27]. - As of December 31, 2021, the company had cash and bank balances of approximately HKD 42,767,000, an increase from approximately HKD 32,567,000 in the previous year[45]. - The current ratio as of December 31, 2021, was approximately 3.4 times, down from approximately 5.0 times in 2020[45]. - The debt-to-equity ratio increased to 22.3% as of December 31, 2021, compared to 4.1% in 2020, primarily due to the utilization of bank overdraft facilities[46].

Financial Performance - For the three months ended September 30, 2021, the company's revenue was HKD 32,991,000, a 101.0% increase compared to HKD 16,374,000 for the same period in 2020[4] - For the nine months ended September 30, 2021, the total revenue reached HKD 73,759,000, representing a 50.4% increase from HKD 49,065,000 in the same period of 2020[4] - The profit before tax for the three months ended September 30, 2021, was HKD 9,803,000, compared to a loss of HKD 796,000 in the same period of 2020[4] - The net profit for the nine months ended September 30, 2021, was HKD 11,389,000, significantly up from HKD 604,000 in the same period of 2020[4] - Basic and diluted earnings per share for the three months ended September 30, 2021, were HKD 1.07, compared to a loss of HKD 0.09 in the same period of 2020[4] - The company reported a total comprehensive income of HKD 8,600,000 for the three months ended September 30, 2021, compared to a loss of HKD 660,000 in the same period of 2020[4] - The company's total comprehensive income for the nine months ended September 30, 2021, was HKD 11,425,000, compared to HKD 651,000 in the same period of 2020[5] - The net profit for the nine months ended September 30, 2021, was approximately HKD 11,425,000, a significant increase of approximately HKD 13,853,000 compared to a net loss of approximately HKD 2,428,000 in the same period of 2020[41] Revenue Breakdown - The revenue from recruitment services in Hong Kong for the three months ended September 30, 2021, was HKD 17,853,000, a 119.5% increase from HKD 8,125,000 in the same period of 2020[13] - The revenue from dispatch and payroll services in Hong Kong for the nine months ended September 30, 2021, was HKD 17,907,000, up from HKD 15,097,000 in the same period of 2020[13] - Revenue from recruitment services rose from approximately HKD 28,005,000 for the nine months ended September 30, 2020, to approximately HKD 40,866,000 for the same period in 2021, an increase of about 45.9%[24] - Revenue from dispatch and payroll outsourcing services in Hong Kong increased from approximately HKD 15,097,000 for the nine months ended September 30, 2020, to approximately HKD 17,907,000 for the same period in 2021, a growth of about 18.6%[25] - Revenue from the company's operations in China surged from approximately HKD 3,947,000 for the nine months ended September 30, 2020, to approximately HKD 12,628,000 for the same period in 2021, marking a significant increase of about 220%[27] - The group's revenue increased by approximately HKD 24,694,000 or 50.3% to approximately HKD 73,759,000 for the nine months ended September 30, 2021, compared to the same period in 2020[32] - Revenue from recruitment services rose by approximately HKD 21,542,000 or 67.4% to approximately HKD 53,494,000 for the nine months ended September 30, 2021, driven by the recovery of the Hong Kong recruitment market[32] - The group generated approximately HKD 12,628,000 in recruitment service revenue from China, an increase of approximately HKD 8,681,000 or 220% due to business expansion in the Chinese recruitment market[32] Equity and Shareholding - The company’s total equity as of September 30, 2021, was HKD 50,740,000, an increase from HKD 41,418,000 as of September 30, 2020[5] - As of September 30, 2021, the company’s directors and senior management collectively hold 600,000,000 shares, representing approximately 75% of the issued share capital[44] - KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, also accounting for approximately 75% of the issued share capital[48] - The shares held by KJE Limited are distributed among the directors, with each owning about 33.33%[46] Corporate Governance - The board of directors did not recommend the payment of an interim dividend for the nine months ended September 30, 2021[19] - The company has complied with the corporate governance code as per GEM Listing Rules, with the exception of one instance where an independent non-executive director was unable to attend the annual general meeting[56] - All directors confirmed compliance with the trading standards and the code of conduct for securities trading during the nine months ended September 30, 2021[57] - No interests were held by directors or major shareholders in any business that directly or indirectly competes with the company[55] - There were no disclosures of interests or short positions in shares, bonds, or related securities by directors or senior management other than those mentioned[48] Audit and Compliance - The Audit Committee was established on September 13, 2018, in accordance with GEM Listing Rule 5.28, consisting of three independent non-executive directors[59] - The Audit Committee's main responsibilities include reviewing financial statements and overseeing internal control procedures and risk management systems[59] - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2021, and provided opinions and recommendations[59] Strategic Initiatives - The company plans to continue expanding its team, particularly in the Greater Bay Area, to capitalize on the economic growth in the region[21] - The company has established offices in Hong Kong, Shenzhen, and Guangzhou, aiming to become a leading HR service provider in both regions[21] - The group plans to focus on industries with recovery potential, such as e-commerce, logistics, education, and real estate, while maintaining a strong cash flow management strategy[31] - The group aims to enhance brand awareness through internal marketing teams and digital platforms, leveraging social media for greater public recognition[31] - The group will continue to invest in dedicated teams for financial services in Hong Kong and mainland China, closely monitoring performance and investment returns[31] - The group is committed to recruiting and developing quality talent essential for long-term organic growth strategies[31] Other Financial Information - Employee costs for the nine months ended September 30, 2021, were approximately HKD 48,004,000, representing 65.1% of revenue, a decrease from 81.7% in the same period of 2020[36] - Other income decreased to approximately HKD 305,000 for the nine months ended September 30, 2021, from approximately HKD 3,144,000 in the same period of 2020, as no government subsidies were received during the latter period[35] - No stock options have been granted, exercised, canceled, or lapsed since the adoption of the stock option plan on September 13, 2018, and there are no unexercised stock options as of September 30, 2021[51] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2021[54] - There were no arrangements made for directors to acquire shares or bonds of the company or its subsidiaries during the nine months ended September 30, 2021[52]

Financial Performance - For the three months ended June 30, 2021, the revenue was HKD 22,462,000, representing a 37.5% increase from HKD 16,335,000 in the same period of 2020[4] - For the six months ended June 30, 2021, the revenue was HKD 40,768,000, up 24.5% from HKD 32,691,000 in the same period of 2020[4] - The net profit for the six months ended June 30, 2021, was HKD 2,797,000, a significant increase of 110.8% compared to HKD 1,329,000 in the same period of 2020[4] - The total comprehensive income for the six months ended June 30, 2021, was HKD 2,825,000, compared to HKD 1,311,000 for the same period in 2020, reflecting a growth of 115.5%[4] - Total revenue for the six months ended June 30, 2021, was HKD 40,768,000, representing a 24.7% increase from HKD 32,691,000 in the same period of 2020[14] - The company reported a net profit of HKD 2,797,000 for the six months ended June 30, 2021, compared to HKD 1,329,000 in the same period of 2020, marking a 110.4% increase[24] - Basic earnings per share for the six months ended June 30, 2021, was HKD 3.50, up from HKD 1.66 in 2020[24] - The net profit for the period increased by approximately HKD 1,514,000 or 115.5% to about HKD 2,825,000, compared to approximately HKD 1,311,000 for the same period in 2020[55] Revenue Sources - Revenue from recruitment services in Hong Kong for the six months ended June 30, 2021, was HKD 23,013,000, up 15.4% from HKD 19,880,000 in 2020[14] - The company reported a significant increase in revenue from its operations in China, with HKD 5,267,000 for the six months ended June 30, 2021, compared to HKD 1,730,000 in 2020[14] - Revenue from Hong Kong recruitment services rose by approximately HKD 3,133,000 or 15.8% to about HKD 23,013,000 for the six months ended June 30, 2021[40] - Revenue from China increased significantly by approximately HKD 3,537,000 or 204.5% to about HKD 5,267,000 for the six months ended June 30, 2021[42] - Revenue from recruitment services rose by approximately HKD 6,670,000 or 30.9% to about HKD 28,280,000 for the six months ended June 30, 2021, driven by the recovery of the Hong Kong recruitment market[47] Financial Position - The cash and cash equivalents at the end of June 30, 2021, were HKD 24,502,000, down from HKD 30,430,000 at the end of June 30, 2020[7] - The total assets as of June 30, 2021, were HKD 46,077,000, compared to HKD 44,946,000 as of December 31, 2020, indicating a growth of 2.5%[5] - The total equity increased to HKD 42,140,000 as of June 30, 2021, from HKD 39,315,000 as of December 31, 2020, representing a growth of 7.2%[5] - Total accounts receivable as of June 30, 2021, was HKD 10,539,000, an increase from HKD 9,032,000 as of December 31, 2020[28] - The group maintained a strong liquidity position with bank balances and cash of approximately HKD 25,508,000 as of June 30, 2021, down from HKD 32,567,000 at the end of 2020[57] - The capital-to-debt ratio was 3.3% as of June 30, 2021, compared to 4.1% at the end of 2020, reflecting a stable financial structure[59] Employee Costs - Employee costs for the six months ended June 30, 2021, were HKD 30,053,000, an increase of 11.8% from HKD 26,931,000 in the same period of 2020[4] - Employee costs amounted to approximately HKD 30,053,000, representing 73.7% of revenue, a decrease from 82.4% in the previous year, indicating improved cost efficiency[50] - As of June 30, 2021, the group had 81 internal employees and 168 dispatched employees, with employee costs approximately HKD 30,053,000, an increase from HKD 26,931,000 as of June 30, 2020[67] Strategic Initiatives - The company has been focusing on expanding its recruitment services in Hong Kong, Macau, and mainland China[8] - The company plans to expand its business in the Greater Bay Area, focusing on technology, consumer, and real estate sectors in Shenzhen and Guangzhou[44] - The company aims to improve the quality of its existing team through structured training programs[44] - The group plans to focus on industries with recovery potential, such as e-commerce, logistics, education, and real estate, to expand its business scope[46] - The group will strengthen its internal marketing teams in Hong Kong and mainland China, leveraging digital and social media platforms to enhance brand awareness[46] Market Conditions - The unemployment rate in Hong Kong has decreased, supporting an increase in recruitment revenue[40] - The management anticipates that the economic growth in China for the second half of 2021 may not be as strong as in the first half due to uncertainties related to COVID-19[45] - The company remains cautiously optimistic about its overall performance in 2021 despite the uncertain economic environment[45] Corporate Governance - The company did not recommend an interim dividend for the six months ended June 30, 2021, consistent with the previous year[25] - The group has no significant foreign exchange risk as most of its revenue is denominated in HKD, and no hedging arrangements are in place[60] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2021[87] Shareholder Information - KJE Limited and Caiden Holdings Limited collectively hold 600,000,000 shares, representing 75% of the issued share capital[78] - KJE Limited is owned by three individuals, each holding approximately 33.33% of the shares, while Caiden Holdings Limited is wholly owned by Mr. Zhou Jiawei[78] - No stock options have been granted, exercised, canceled, or expired under the stock option plan since its adoption on September 13, 2018[80] - The company did not purchase, sell, or redeem any of its listed securities during the six months ending June 30, 2021[82] Operational Developments - The company has completed the expansion of its business team in Hong Kong as planned, focusing on diversified functions and experienced consultants[69] - The group has maintained its office locations in both Hong Kong and China, supporting its operational needs[69] - The group has begun the development of additional workflows to enhance its IT systems, although this project was not completed by June 30, 2021[70] - The group has utilized HKD 14,222,000 for expanding recruitment services in Hong Kong and HKD 7,994,000 for establishing its position in the Chinese recruitment market[73] Other Financial Information - The company reported a net cash outflow from operating activities of HKD 3,388,000 for the six months ended June 30, 2021, compared to a net inflow of HKD 1,840,000 in the same period of 2020[7] - The company purchased property, plant, and equipment at a total cost of approximately HKD 475,000 for the six months ended June 30, 2021, compared to HKD 171,000 in the same period of 2020[26] - Financing costs for the six months ended June 30, 2021, totaled HKD 38,000, a decrease from HKD 85,000 in the same period of 2020[20] - As of June 30, 2021, there were no significant contingent liabilities reported by the group[66] - The group has no major investments or capital asset plans as of June 30, 2021[63] - The group has no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ending June 30, 2021[64] - The group has pledged bank deposits of HKD 3,000,000 as collateral for overdraft bank financing[65] - The net proceeds from the share issuance amounted to approximately HKD 31,000,000, with about HKD 30,701,000 utilized by June 30, 2021, leaving approximately HKD 284,000 unutilized[72]

Financial Performance - The company's revenue for the three months ended March 31, 2021, was HKD 18,306,000, representing a 11.9% increase from HKD 16,356,000 in the same period of 2020[4] - The total loss for the period was HKD 753,000, a significant improvement compared to a loss of HKD 1,649,000 in the same period of 2020, reflecting a reduction of approximately 54.4%[4] - Basic loss per share for the period was HKD 0.09, compared to HKD 0.21 for the same period in 2020, indicating a 57.1% improvement[4] - The total comprehensive expense for the period was HKD 790,000, down from HKD 1,665,000 in the same period of 2020, indicating a reduction of approximately 52.7%[4] - The group reported a total comprehensive loss of approximately HKD 790,000 for the three months ended March 31, 2021, compared to a loss of approximately HKD 1,665,000 for the same period in 2020, indicating a significant improvement[21] - Total net loss for the three months ended March 31, 2021, was approximately HKD 790,000, a reduction of about HKD 875,000 from a net loss of approximately HKD 1,665,000 for the same period in 2020, mainly attributed to increased revenue from the China business and Hong Kong recruitment services[38] Revenue Breakdown - Revenue from recruitment services in Hong Kong increased to HKD 9,863,000, up 5.8% from HKD 9,321,000 in 2020[13] - Revenue from recruitment services in China rose to HKD 2,077,000, a 66.4% increase from HKD 1,249,000 in 2020[13] - Revenue increased by approximately HKD 1,950,000 or 11.9%, from approximately HKD 16,356,000 for the three months ended March 31, 2020, to approximately HKD 18,306,000 for the same period in 2021[22] - Revenue from Hong Kong recruitment services rose by approximately HKD 2,894,000 or 41.5%, from approximately HKD 6,969,000 for the three months ended December 31, 2020, to approximately HKD 9,863,000 for the three months ended March 31, 2021[24] - Revenue from the financial services sector in Hong Kong increased by approximately HKD 482,000 or 19.8%, from approximately HKD 2,434,000 to approximately HKD 2,916,000 for the same period[24] - Revenue from the mainland China team increased by approximately HKD 828,000 or 66.3%, from approximately HKD 1,249,000 to approximately HKD 2,077,000 for the three months ended March 31, 2021[25] Expenses and Costs - The company's employee costs for the period were HKD 15,086,000, an increase from HKD 14,054,000 in the same period of 2020[4] - Employee costs for the three months ended March 31, 2021, were approximately HKD 15,086,000, accounting for about 82.4% of revenue, down from 85.9% in 2020[33] - Other expenses and losses increased by approximately HKD 108,000 to approximately HKD 3,891,000 for the three months ended March 31, 2021, primarily due to rent, rates, and depreciation[34] - Income tax expenses decreased by approximately HKD 36,000 or 33.6% to HKD 71,000 for the three months ended March 31, 2021, primarily due to a decline in estimated taxable profits from subsidiaries[37] - The company reported a financing cost of HKD 20,000, a decrease from HKD 46,000 in the same period of 2020[4] Dividends and Shareholder Information - The company did not recommend the payment of an interim dividend for the three months ended March 31, 2021, consistent with the previous year[18] - The board did not recommend the payment of an interim dividend for the three months ended March 31, 2021[39] - Major shareholders KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, representing approximately 75% of the issued share capital[45] - No share options have been granted, exercised, cancelled, or lapsed since the adoption of the share option scheme on September 13, 2018, with no unexercised options as of March 31, 2021[49] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2021[51] - There were no arrangements made for directors to acquire shares or bonds of the company or its subsidiaries during the three months ended March 31, 2021[50] - No interests were held by directors or major shareholders in any business that directly or indirectly competes with the group during the three months ended March 31, 2021[52] Corporate Governance - The compliance advisor, Xiangjiang Capital Limited, was engaged on September 19, 2018, and the engagement period ended on March 31, 2021[54] - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 for the three months ending March 31, 2021[55] - The board has adopted the standard trading code for securities transactions as per GEM Listing Rules 5.48 to 5.67, confirming compliance for the three months ending March 31, 2021[56] - The Audit Committee, established on September 13, 2018, consists of three independent non-executive directors and has reviewed the unaudited condensed consolidated financial statements for the three months ending March 31, 2021[58] - The board of directors includes three executive directors and three independent non-executive directors as of May 12, 2021[60] Future Outlook - The group plans to focus on expanding its business in the Greater Bay Area, particularly in technology, consumption, and real estate sectors in Shenzhen and Guangzhou[29] - The group aims to enhance its internal marketing team to improve brand awareness and recognition through digital and social media platforms[32] - The management remains cautiously optimistic about the performance for the upcoming year, given the gradual improvement in the overall trade environment[28]

Financial Performance - The group's revenue decreased by approximately HKD 15.6 million or 19.3% to about HKD 65.3 million for the year ended December 31, 2020, compared to approximately HKD 80.9 million in 2019[10] - Revenue from recruitment services in Hong Kong fell by approximately HKD 9.7 million or 21.8% to about HKD 35.0 million, down from approximately HKD 44.7 million in the previous year[10] - Despite challenges, revenue from recruitment services in mainland China increased by 91.0% to approximately HKD 6.4 million, up from about HKD 3.3 million in 2019[10] - Total comprehensive expenses for the year ended December 31, 2020, were approximately HKD 1,452,000, compared to total comprehensive income of approximately HKD 1,676,000 for the year ended December 31, 2019[18] - Revenue from recruitment services decreased from approximately HKD 48,049,000 for the year ended December 31, 2019, to approximately HKD 41,357,000 for the year ended December 31, 2020, a decline of approximately HKD 6,692,000 or 13.9%[18] - Recruitment service revenue from Hong Kong commercial clients fell from approximately HKD 34,208,000 in 2019 to approximately HKD 22,826,000 in 2020, a decrease of approximately HKD 11,382,000 or 33.3%[21] - Despite the overall decline, the technology team achieved approximately 108.5% growth in revenue, increasing from approximately HKD 1,160,000 in 2019 to approximately HKD 2,419,000 in 2020[22] - Revenue from financial services clients improved from approximately HKD 10,498,000 in 2019 to approximately HKD 12,148,000 in 2020, an increase of approximately HKD 1,650,000 or 15.7%[22] - Revenue from the China business grew from approximately HKD 3,342,000 in 2019 to approximately HKD 6,383,000 in 2020, an increase of approximately HKD 3,041,000 or 91.0%[26] - The company reported a significant reliance on major clients, with a substantial portion of revenue generated from its largest customer, indicating potential financial risks if demand decreases[96] Cost Management - The cost of dispatched employees decreased by approximately HKD 8.1 million or 26.9% to about HKD 21.9 million, aligning with the decline in revenue from dispatch and payroll services[11] - Internal employee costs increased by approximately HKD 1.8 million or 5.3% to about HKD 35.3 million, compared to approximately HKD 33.5 million in 2019[11] - Employee costs for the year ended December 31, 2020, were approximately HKD 57,219,000, representing about 87.6% of total revenue, down from approximately HKD 63,499,000 in 2019[42] - Revenue from dispatch and payroll services was approximately HKD 23,928,000 for the year ended December 31, 2020, down from approximately HKD 32,823,000 in 2019, accounting for about 36.6% of total revenue[39] Market Outlook and Strategy - The company remains optimistic about the human resources market in the Greater Bay Area and plans to steadily expand its market share in Hong Kong[12] - The company aims to further penetrate the human resources service market in the Greater Bay Area and establish its recruitment service network in China[12] - The company plans to focus on industries with recovery potential, such as e-commerce, logistics, education, and real estate, in the upcoming year[34] - The company expresses cautious optimism for future performance, particularly in the context of improving trade conditions starting from July 2020[32] Shareholder and Stakeholder Relations - The company expresses gratitude to shareholders, clients, and stakeholders for their continued support and acknowledges the dedication of its management team and staff[14] - The report highlights the commitment to creating more value for the group and its shareholders in the future[14] - The company did not recommend the payment of a final dividend for the year ended December 31, 2020[50] - As of December 31, 2020, the company's distributable reserves amounted to approximately HKD 2,200,000, down from HKD 2,547,000 in 2019, reflecting a decrease of about 13.7%[107] Liquidity and Financial Position - As of December 31, 2020, the company had cash and bank balances of approximately HKD 32,567,000, compared to approximately HKD 29,938,000 in 2019[51] - The current ratio as of December 31, 2020, was approximately 5 times, consistent with the previous year[51] - The debt-to-equity ratio as of December 31, 2020, was 4.1%, down from 9.5% in 2019[51] - The company maintained a strong and robust liquidity position to capitalize on future growth opportunities[55] Human Resources and Employee Relations - The company has established a strong relationship with employees, ensuring reasonable compensation and regular reviews of employee benefits[103] - The company had 75 internal employees and 222 dispatched employees as of December 31, 2020, compared to 67 and 99, respectively, in 2019[62] - The management team has extensive experience, with the CEO having 24 years in the human resources industry and the CFO over 22 years in auditing and corporate finance[88][90] Corporate Governance - The company has adhered to the corporate governance code as per GEM listing rules for the year ending December 31, 2020[161] - The board of directors consists of six members, including three executive directors and three independent non-executive directors, complying with GEM listing rules regarding independence[163] - The company has adopted a share option scheme to reward directors and eligible employees for their contributions[130] - The company’s chairman and CEO roles are separated to ensure clear distinction between board management and daily business operations[172] Risk Management - The company has established a risk management and internal control system to address various potential risks, including liquidity, fraud, and financial reporting risks[193] - The internal audit function is responsible for independent reviews of risk and internal controls, reporting directly to the audit committee[194] - The board and audit committee found no significant internal control failures during the internal audit review[196]

Financial Performance - For the three months ended September 30, 2020, the company's revenue was HKD 16,374,000, a decrease of 24.4% compared to HKD 21,633,000 for the same period in 2019[4] - For the nine months ended September 30, 2020, the company's revenue was HKD 49,065,000, down 19.5% from HKD 60,875,000 in the same period of 2019[4] - The net loss for the three months ended September 30, 2020, was HKD 725,000, compared to a profit of HKD 1,760,000 for the same period in 2019[4] - The total comprehensive loss for the three months ended September 30, 2020, was HKD 660,000, compared to a comprehensive income of HKD 1,642,000 in the same period of 2019[4] - The basic loss per share for the three months ended September 30, 2020, was HKD (0.09), compared to earnings of HKD 0.21 per share for the same period in 2019[4] - The total comprehensive income for the period decreased by approximately HKD 2,696,000 or 80.5% to about HKD 651,000, with a potential net loss of approximately HKD 2,428,000 if government subsidies were excluded[37] Employee Costs and Staffing - The company's employee costs for the three months ended September 30, 2020, were HKD 13,132,000, a decrease of 13.6% from HKD 15,196,000 in the same period of 2019[4] - Employee costs decreased by approximately HKD 4,257,000 or 9.6% to about HKD 40,063,000, representing 81.7% of revenue, up from 72.8% in the previous year[32] - The company successfully increased its staffing from 110 employees on June 30, 2020, to 207 employees by September 30, 2020, in the dispatch and payroll services segment[25] Revenue Breakdown - Recruitment services revenue in Hong Kong decreased by approximately HKD 7,030,000 or 27.9% to HKD 18,183,000 for the nine months ended September 30, 2020, compared to HKD 25,213,000 in 2019[20] - Revenue from the financial services and insurance sector increased by approximately HKD 1,580,000 or 19.2% to HKD 9,821,000 for the nine months ended September 30, 2020, compared to HKD 8,241,000 in 2019[23] - Revenue from the mainland China team increased by approximately HKD 1,678,000 or 74.0% to HKD 3,947,000 for the nine months ended September 30, 2020, compared to HKD 2,269,000 in 2019[24] - The revenue from dispatch and payroll services significantly dropped by approximately HKD 8,038,000 or 32.0% to about HKD 17,113,000, impacted by delays and cancellations in client hiring plans due to the COVID-19 pandemic[28] - Revenue from recruitment services fell by approximately HKD 3,772,000 or 10.6% to about HKD 31,952,000, primarily due to a decrease in successful job placements in a challenging recruitment environment[28] Other Income and Costs - The company reported other income of HKD 194,000 for the three months ended September 30, 2020, compared to HKD 37,000 for the same period in 2019[4] - Other income increased to approximately HKD 3,144,000, mainly due to government subsidies under the "Employment Support Scheme" amounting to about HKD 3,079,000[29] - The company incurred financing costs of HKD 32,000 for the three months ended September 30, 2020, down from HKD 228,000 in the same period of 2019[4] Future Outlook and Strategy - The company has not disclosed any specific future outlook or guidance in the provided documents[4] - The average duration of the recruitment process in Hong Kong is expected to continue for at least two more quarters, impacting revenue[20] - The company plans to continue investing in mainland China, focusing on recruitment, training, and expanding its service offerings[24] - The group plans to closely monitor the performance of its Hong Kong team and respond swiftly to market changes to seize opportunities for market share expansion[27] - The management team emphasizes a focus on long-term vision and strategic goals despite the challenges faced in 2020[26] - The group aims to expand its presence in mainland China by enhancing brand awareness and increasing service offerings[27] Shareholder Information and Corporate Governance - As of September 30, 2020, major shareholders KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, representing approximately 75% of the issued share capital[45] - The shares held by KJE Limited are registered under the names of three individuals, each owning approximately 33.33%[47] - No stock options have been granted, exercised, canceled, or expired since the adoption of the stock option plan on September 13, 2018, and there are no unexercised stock options as of September 30, 2020[48] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2020[51] - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the nine months ended September 30, 2020[54] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2020[56] - The board of directors includes three executive directors and three independent non-executive directors as of November 12, 2020[58]

Revenue Performance - For the three months ended June 30, 2020, the company's revenue was HKD 16,335,000, a decrease of 21.4% compared to HKD 20,688,000 for the same period in 2019[3]. - For the six months ended June 30, 2020, the company's revenue was HKD 32,691,000, down 16.7% from HKD 39,242,000 in the same period of 2019[3]. - Total revenue for the six months ended June 30, 2020, was HKD 32,691,000, a decrease of 16.7% compared to HKD 39,242,000 for the same period in 2019[15]. - Revenue from recruitment services in Hong Kong for the six months ended June 30, 2020, was HKD 19,880,000, down 8.7% from HKD 21,782,000 in 2019[15]. - Recruitment service revenue decreased by approximately HKD 732,000 or 3.3% to about HKD 21,610,000 for the six months ended June 30, 2020, from HKD 22,342,000 in the prior year[46]. - The revenue from dispatch and payroll services significantly dropped by approximately HKD 5,819,000 or 34.4% to about HKD 11,081,000 for the six months ended June 30, 2020, compared to HKD 16,900,000 in 2019[46]. - Revenue from the financial services sector increased by approximately HKD 1,585,000 or 31.6%[40]. - Revenue generated by the mainland China team increased by 208.9% to approximately HKD 1,730,000 for the six months ended June 30, 2020[40]. Profitability - The company's net profit for the three months ended June 30, 2020, was HKD 2,978,000, representing an increase of 64.1% compared to HKD 1,441,000 in 2019[3]. - The net profit for the six months ended June 30, 2020, was HKD 1,329,000, a decrease of 20.3% from HKD 1,667,000 in the same period of 2019[3]. - The company reported a net profit of HKD 1,329,000 for the six months ended June 30, 2020, compared to HKD 1,667,000 for the same period in 2019, representing a decline of 20.3%[26]. - Basic earnings per share for the six months ended June 30, 2020, was HKD 0.00166, down from HKD 0.00208 in 2019[26]. - Total comprehensive income for the six months ended June 30, 2020, decreased by approximately HKD 394,000 or 23.1% to HKD 1,311,000, with a potential net loss of approximately HKD 1,593,000 if government subsidies were excluded[54]. Cash Flow and Financial Position - The company's cash and cash equivalents increased to HKD 30,430,000 as of June 30, 2020, compared to HKD 29,938,000 at the beginning of the period[6]. - The operating cash flow for the six months ended June 30, 2020, was HKD 1,840,000, an increase from HKD 839,000 in the same period of 2019[6]. - The company reported a net cash inflow of HKD 492,000 for the six months ended June 30, 2020, compared to a net outflow of HKD 3,107,000 in the same period of 2019[6]. - The capital debt ratio as of June 30, 2020, was 6.6%, down from 9.5% as of December 31, 2019, indicating improved financial stability[56]. - The company maintained a cash balance of approximately HKD 30,430,000 as of June 30, 2020, compared to HKD 29,938,000 as of December 31, 2019[56]. - There were no significant contingent liabilities as of June 30, 2020, indicating a stable financial position[63]. Assets and Equity - Total assets as of June 30, 2020, were HKD 43,061,000, slightly down from HKD 43,562,000 at the end of 2019[4]. - The company's total equity increased to HKD 42,078,000 as of June 30, 2020, compared to HKD 40,767,000 at the end of 2019[4]. - Total accounts receivable as of June 30, 2020, was HKD 10,032,000, an increase from HKD 9,947,000 as of December 31, 2019[30]. - The company reported a reduction in accounts receivable over 60 days from approximately HKD 3,185,000 or 32.0% to about HKD 1,664,000 or 16.6%[41]. Expenses and Costs - Employee costs for the six months ended June 30, 2020, were approximately HKD 26,931,000, a decrease of 7.4% from HKD 29,124,000 in 2019, representing 82.4% of revenue compared to 74.2% in 2019[49]. - Internal employee costs increased by approximately HKD 3,230,000 or 23.5% to HKD 16,949,000 for the six months ended June 30, 2020, primarily due to business expansion in Hong Kong and China[49]. - Other expenses increased slightly to approximately HKD 7,199,000 for the six months ended June 30, 2020, primarily due to increased office supplies and marketing costs related to business expansion[50]. - Tax expenses decreased by approximately HKD 954,000 or 91.3% to HKD 91,000 for the six months ended June 30, 2020, due to a decline in estimated taxable profits from subsidiaries[53]. Strategic Initiatives - The company plans to focus on high-margin recruitment services due to challenges in the dispatch and payroll sectors[41]. - The company aims to enhance brand recognition in Hong Kong and mainland China through digital and social media platforms[45]. - The company has begun the development of additional workflows to enhance IT systems, which remains incomplete as of June 30, 2020[68]. - The company has completed a phase of acquiring a new business intelligence system to expedite management decision-making by June 30, 2020[68]. - The company has initiated automation processes to support business operations, which are still in progress as of June 30, 2020[68]. Shareholder Information - The company’s directors collectively hold 600,000,000 shares, representing approximately 75% of the issued share capital[73]. - KJE Limited and Caiden Holdings Limited each hold 600,000,000 shares, also representing approximately 75% of the issued share capital[77]. - No stock options have been granted, exercised, canceled, or lapsed under the stock option plan since its adoption[80]. - No arrangements were made for directors to acquire shares or bonds of the company or its affiliates during the six months ended June 30, 2020[81]. - The company and its subsidiaries did not purchase, sell, or redeem any listed securities during the six months ended June 30, 2020[82]. - There were no interests held by directors or controlling shareholders in any business that directly or indirectly competes with the company during the six months ended June 30, 2020[83]. Corporate Governance - The company complied with the corporate governance code as per GEM Listing Rules Appendix 15 during the six months ended June 30, 2020[85]. - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2020[89].