Financial Performance - The company's revenue for the fiscal year ending December 31, 2024, was HKD 351,188,000, representing a 130.7% increase from HKD 152,137,000 in the previous fiscal year[3] - Gross profit for the same period was HKD 20,164,000, up from HKD 13,791,000, indicating a growth of 46.5%[3] - Operating profit increased to HKD 11,230,000 from HKD 5,653,000, reflecting a growth of 98.5%[3] - The net profit for the year was HKD 272,000, a significant decrease from HKD 6,615,000 in the previous year, marking a decline of 95.9%[3] - Total comprehensive income for the year was HKD (962,000), down from HKD 8,140,000, indicating a decline of 111.8%[3] - Total revenue for the year ended December 31, 2024, was HKD 351,188,000, a significant increase from HKD 152,137,000 in 2023, representing a growth of 130.6%[19] - Operating profit for the year was HKD 11,230,000, with a net profit of HKD 272,000 after tax expenses of HKD 2,587,000[24] - The company reported a gross profit of HKD 15,246,000 from its two reportable segments: sales and distribution of IT products and maintenance and service support[24] - Other income decreased to HKD 2,796,000 in 2024 from HKD 7,638,000 in 2023, primarily due to a reduction in bank interest income[36] - The cost of goods sold increased significantly to HKD 326,155,000 in 2024 from HKD 134,310,000 in 2023, reflecting a rise in operational scale[38] - Net profit reported was approximately HKD 272,000, a decrease of HKD 6,343,000 compared to a net profit of approximately HKD 6,615,000 for the year ended December 31, 2023[75] Assets and Liabilities - The company's total assets increased to HKD 172,216,000 from HKD 163,374,000, a growth of 5.2%[6] - Cash and cash equivalents decreased to HKD 39,678,000 from HKD 104,485,000, a decline of 62.0%[6] - The company's equity attributable to owners increased to HKD 161,621,000 from HKD 155,618,000, a growth of 3.2%[6] - The total assets of the company as of December 31, 2024, were HKD 172,216,000, with total liabilities of HKD 9,270,000[26] - The company's total assets as of December 31, 2023, were HKD 163,374,000, with cash and cash equivalents amounting to HKD 104,485,000[30] - As of December 31, 2024, the group's net current assets were approximately HKD 149,511,000, an increase from HKD 136,060,000 in 2023, while cash and cash equivalents decreased to HKD 39,678,000 from HKD 104,485,000[86] - The capital debt ratio as of December 31, 2024, was approximately 5.7%, up from 4.2% in 2023[86] - The group holds a 21% stake in 4Square Return GmbH, with a carrying value of approximately HKD 9,774,000, representing 5.7% of the group's total assets as of December 31, 2024[93] Revenue Sources - Revenue from the sale and distribution of IT products reached HKD 323,363,000, up from HKD 133,004,000 in the previous year, marking a growth of 143.5%[19] - Revenue from repair and service support increased to approximately HKD 27,825,000 in 2024, compared to HKD 19,133,000 in 2023, marking an increase of about 45.5%[60] - Revenue from the sale and distribution of IT products accounted for approximately 92.1% of total revenue in 2024, up from 87.4% in 2023[60] - The Hong Kong market contributed approximately 89.9% of total revenue in 2024, up from 73.5% in 2023[62] Shareholder Information - The company issued 2,605,000 shares to subscribers as part of a subscription agreement completed on November 28, 2024[44] - No interim or final dividends were recommended for the fiscal year ending December 31, 2024[46] - The expected total amount from the subscription is approximately HKD 28.1 million, with a net amount of about HKD 27.4 million after expenses[87] - The net proceeds from the first tranche are planned to be used for expanding IT product sales and distribution, enhancing the capabilities of the repair center in China, and establishing an overseas repair center[89] Operational Insights - The company has expanded its repair services through a service framework agreement with its controlling shareholder, enhancing its revenue sources[59] - The company has been actively seeking new business opportunities to diversify its service offerings and strengthen its market position[59] - The company plans to allocate additional resources to further develop its repair and service support segment to enhance profitability and capital return[68] - The company is actively exploring suitable investment opportunities in the "circular economy" sector to fulfill its commitment to sustainable development[68] Governance and Compliance - The board is committed to high standards of corporate governance and has adopted the corporate governance code as per GEM listing rules[105] - The audit committee reviewed the group's financial statements for the year ending December 31, 2023, and the interim results for the six months ending June 30, 2024[111] - The audit committee consists of independent non-executive directors and meets at least twice a year[108] - The group has confirmed compliance with the trading standards for directors during the fiscal year 2024[107] Employment and Costs - As of December 31, 2024, the group employed 32 staff members, a decrease from 32 in the previous year, with total employee costs approximately HKD 9,121,000, down from HKD 11,373,000 in 2023[83] Future Outlook - Future plans may include fundraising or financing to strengthen human resources, facilities, and working capital to support distribution and fulfillment needs[98]

as CircuTech International Holdings Limited 訊 智 海 國 際 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) (Stock Cocle 股份代號 : 8051) INTERIM REPORT 中期報告 2024 | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Employment and Staff Costs - As of December 31, 2023, the group employed 18 staff in Hong Kong and 14 staff in China and overseas offices, with total employee costs approximately HKD 11,373,000, a decrease from HKD 12,605,000 in 2022[12] - The company’s employee costs include director remuneration, employee salaries and commissions, retirement benefits plan contributions, and other benefits[12] - Total staff costs for the Group amounted to approximately HKD 11,373,000 for the year ended December 31, 2023, down from approximately HKD 12,605,000 in 2022[141] - The Group employed 32 employees as of December 31, 2023, compared to 32 employees in the previous year[141] Share Options and Directors - The maximum number of shares that may be issued upon the exercise of options under the share option scheme is 1,673,841 shares, representing approximately 7.1% of the issued share capital as of the date of the annual report[1] - No share options were granted under the share option scheme since its adoption on November 11, 2016[1] - The share option scheme will expire at the close of business on November 10, 2026[1] - The company has not participated in any arrangements allowing directors to acquire benefits through the acquisition of shares or debentures during the year ended December 31, 2023[19] - The company’s board of directors includes Mr. Han Chun-wei, Mr. Li Robin Kit Ling, and Mr. Miao Benny Hua-ben, who are eligible for re-election[7] - The company has entered into letters of appointment with all directors for an initial term of one year, continuing thereafter unless terminated with three months' notice[8] - The company has not disclosed any service contracts for directors that are not determinable within one year without compensation, other than statutory compensation[9] - The interests of directors and chief executives in shares and debentures were disclosed as required under the Securities and Futures Ordinance[24] - The Company has maintained compliance with the GEM Listing Rules regarding the disclosure of interests[25] - The Company has not been notified of any other persons with interests or short positions in any Shares as of December 31, 2023[33] Financial Performance - The Group's total revenue for the year ended December 31, 2023 was approximately HK$152,137,000, a decrease of about 58.7% compared to approximately HK$368,160,000 for the year ended December 31, 2022[129] - The cost of sales decreased to approximately HK$138,346,000, representing a decrease of approximately 59.5% from approximately HK$341,591,000 for the previous year[129] - Gross profit decreased by approximately HK$12,778,000 to approximately HK$13,791,000, with the overall gross profit margin increasing from approximately 7.2% to approximately 9.1%[131] - Selling and distribution costs were reduced by approximately 69.8%, decreasing to approximately HK$1,665,000 from approximately HK$5,518,000[131] - Administrative expenses decreased by approximately 8.9% to approximately HK$13,265,000 from approximately HK$14,559,000[131] - The Group recorded a net profit of approximately HK$6,615,000 for the year ended December 31, 2023, an increase of approximately 30.7% compared to approximately HK$5,061,000 for the previous year[131] - Basic earnings per share increased to approximately HK$25.14 cents in 2023, compared to approximately HK$21.60 cents in 2022[131] Revenue Sources and Market Trends - In 2023, the revenue from sales and distribution of IT products accounted for approximately 87.4% of the total revenue, down from 97.1% in 2022[172] - Revenue from repairs and service support increased from approximately HK$10,815,000 in 2022 to approximately HK$19,133,000 in 2023, marking a significant growth[177] - The global secondary IT products market saw significant growth in both demand and supply in 2023, with consumers increasingly opting for refurbished products[169] - The Group aims to diversify its business segments by focusing on the repairs and service support segment to enhance overall financial performance[171] - The Group's strategic plan includes enhancing inventory turnover days and mitigating inventory risk to optimize financial performance[169] Corporate Governance and Compliance - The Company has adopted corporate governance practices in accordance with GEM Listing Rules and has complied with the corporate governance code[78] - The Company maintains a commitment to high standards of corporate governance to enhance accountability and transparency in operations[87] - The independent non-executive directors play a significant role in providing impartial views on the group's strategies and performance[92] - The company has confirmed that all independent non-executive directors are independent based on various relevant factors[92] - The Nomination Committee is responsible for identifying and nominating suitably qualified candidates for the board, ensuring a balance of skills and diversity[92] Sustainability and Future Plans - The Group is committed to long-term sustainability and has adopted green initiatives in its daily operations, complying with all relevant environmental laws and regulations for the year ended December 31, 2023[72] - The management acknowledges the importance of reducing electronic waste and promoting a circular economy through the provision of refurbished IT products[158] - The Group aims to enhance overall financial performance by expanding its service offerings in the repair and service support category[154] - The commitment to sustainability and the circular economy will remain central to the Group's operations as it strives to create long-term value for shareholders[159] Market Contributions and Performance - The Hong Kong market contributed approximately 73.5% of total revenue, up from 10.5% in 2022, while Japan's contribution rose to 17.3% from 1.9%[184] - The United States market's contribution decreased to 4.0% from 56.3% in the previous year[184] - The Australia market's contribution increased to 3.7% from 1.9% in 2022, indicating relative stability[184] - Taiwan and Netherlands markets saw a drastic decline, contributing approximately 0.0% each, down from 20.1% and 8.5% respectively in 2022[184] Financial Position and Assets - The Group's total assets decreased to HK$163,374 from HK$173,385 in the previous year[199] - The total equity attributable to owners of the Company increased to HK$155,618 from HK$148,198[199] - Total liabilities decreased from 13,701 million to 6,654 million, representing a reduction of approximately 51.5%[200] - Current liabilities include trade and other payables of 4,367 million, down from 5,751 million, indicating a decline of about 24.0%[200] - Non-current liabilities totaled 562 million, a decrease from 1,756 million, reflecting a reduction of approximately 68.0%[200]

Financial Performance - The company reported revenue of HKD 152,137 thousand for the fiscal year ending December 31, 2023, a decrease of 58.7% from HKD 368,160 thousand in 2022[2]. - Gross profit for the fiscal year 2023 was HKD 13,791 thousand, down 48.1% from HKD 26,569 thousand in the previous year[2]. - The net profit attributable to the owners of the company increased to HKD 6,615 thousand in 2023, compared to HKD 5,061 thousand in 2022, representing a growth of 30.7%[2][3]. - The total comprehensive income for the year was HKD 8,140 thousand, significantly higher than HKD 2,192 thousand in 2022, marking an increase of 270.5%[2][4]. - The company’s basic and diluted earnings per share for the year were HKD 25.14, up from HKD 21.60 in the previous year, reflecting a growth of 16.9%[5]. - Other income rose to HKD 7,638 thousand in 2023, compared to HKD 3,941 thousand in 2022, indicating an increase of 93.5%[2]. - The profit for the year was HKD 6,667 thousand, an increase of 0.8% from HKD 6,615 thousand[38]. - Basic and diluted earnings per share increased to HKD 25.36, up from HKD 25.14, reflecting a growth of 0.9%[50]. Revenue Breakdown - Revenue from the sale and distribution of IT products was HKD 133,004,000, down 62.8% from HKD 357,345,000 in the previous year[56]. - Revenue from maintenance and service support increased from approximately HKD 10,815,000 in 2022 to about HKD 19,133,000 in 2023, marking an increase of approximately 76.5%[149]. - Total revenue from external customers for the year ended December 31, 2022, was HKD 368,160,000, with sales from IT products contributing HKD 357,345,000 and maintenance services contributing HKD 10,815,000[106]. Assets and Liabilities - The company’s total assets decreased to HKD 163,374 thousand in 2023 from HKD 173,385 thousand in 2022, a decline of 5.8%[22]. - The company’s total liabilities included current liabilities of HKD 5,751 thousand and tax payable of HKD 720 thousand[9]. - The company’s total liabilities increased to HKD 13,701 thousand, up from HKD 13,341 thousand, representing a rise of 2.7%[30]. - The company's total equity decreased to HKD 159,684 thousand from HKD 160,044 thousand, a decline of 0.2%[30]. - The total accounts receivable for 2023 is HKD 37,105,000, compared to HKD 14,592,000 in 2022, reflecting an increase of approximately 154.5%[139]. - The company’s total liabilities decreased from HKD 5,751,000 in 2022 to HKD 4,367,000 in 2023, a reduction of about 24.0%[144]. Expenses and Cost Management - Research and development expenses decreased to HKD 846 thousand from HKD 1,265 thousand, a reduction of 33.1%[2]. - Administrative expenses decreased by approximately 8.9% to about HKD 13,265,000 from approximately HKD 14,559,000, attributed to improved operational efficiency and strict financial policies[186]. - Sales cost decreased by approximately 59.5% to about HKD 138,346,000 for the year ended December 31, 2023, from HKD 341,591,000 in 2022[167]. - The company’s depreciation expenses for property, plant, and equipment were HKD 1,197,000 in 2022, indicating asset utilization and maintenance costs[110]. Taxation - The current tax expense for 2023 is HKD 1,018,000, a decrease from HKD 3,236,000 in 2022[126]. - The company’s income tax expense for 2023 is HKD 987,000, significantly lower than HKD 3,281,000 in 2022, indicating a reduction of approximately 69.9%[127]. Market and Customer Insights - Hong Kong market contributed approximately 73.5% to total revenue for the year ended December 31, 2023, compared to 10.5% in 2022[151]. - Major customers contributing over 10% of total revenue included Customer A with HKD 76,210,000 in 2023, highlighting key client relationships[115]. Future Outlook and Strategic Initiatives - The company plans to allocate additional resources to further develop its repair and service support segment in the future[165]. - The company is actively exploring suitable investment opportunities in the "circular economy" sector to fulfill its commitment to sustainable development[165]. - The company anticipates that the application of new accounting standards will not have a significant impact on the consolidated financial statements in the future[43]. Dividend Policy - The company plans not to declare a final dividend for the year ending December 31, 2023, consistent with the previous year[138]. - The board proposed not to declare a final dividend for the fiscal year 2023, consistent with the previous year[189].

Revenue Performance - Revenue from external customers for the nine months ended September 30, 2023, was HK$72,352,000, an increase from HK$57,826,000 in the same period of 2022[27]. - For the nine months ended 30 September 2023, the Group's total revenue was approximately HK$72,400,000, a decrease of about HK$277,200,000 or approximately 79.3% compared to approximately HK$349,600,000 for the same period in 2022[42]. - The revenue contribution from the Hong Kong market accounted for approximately 56.2% of the Group's income, a significant increase from approximately 9.0% for the same period in 2022[46]. - The Group's revenue from the Japanese market accounted for approximately 28.2% and from the U.S. market approximately 7.1% for the nine months ended September 30, 2023, reflecting a shift in revenue contributions compared to the previous year[46]. - Revenue from sales and distribution of IT products for the nine months ended September 30, 2023, was HK$341,366, while revenue from repairs and service support was HK$8,196[157]. - Revenue from repairs and service support increased from approximately HK$8.2 million to approximately HK$14.5 million, driven by expanded service support of IT products[176]. Profitability and Financial Performance - Profit for the period for the nine months ended September 30, 2023, was HK$5,703,000, compared to HK$4,837,000 for the same period in 2022, representing an increase of approximately 17.9%[20]. - The profit attributable to the owners of the Company was approximately HK$4.4 million for the nine months ended September 30, 2023, a decrease of approximately HK$1.3 million compared to approximately HK$5.7 million for the same period last year[126]. - The Group recorded a net profit of approximately HK$4.8 million for the nine months ended September 30, 2023, compared to a net profit of approximately HK$5.7 million for the same period in 2022[105]. - Profit before income tax for the nine months ended September 30, 2023, was approximately HK$5.3 million, compared to approximately HK$9.0 million for the same period last year[128]. - The basic earnings per share attributable to ordinary equity shareholders for the nine months ended September 30, 2023, was HK cents 5.57, down from HK cents 10.72 for the same period in 2022[62]. Expenses and Costs - The company reported finance costs of HK$99,000 for the nine months ended September 30, 2023, compared to HK$476,000 in the same period of 2022[27]. - Selling and distribution expenses were reduced by approximately 70.2% for the nine months ended September 30, 2023, primarily due to adjustments in the sales and distribution business model[105]. - Administrative expenses slightly decreased by approximately 1.5% to approximately HK$9.9 million for the nine months ended September 30, 2023, attributed to improved operating efficiencies[105]. - The cost of sales decreased to approximately HK$62.3 million for the nine months ended September 30, 2023, compared to approximately HK$327.8 million for the corresponding period in 2022[178]. Strategic Initiatives and Future Outlook - The company plans to continue expanding its market presence and enhancing its IT product offerings in the upcoming quarters[27]. - Future outlook includes potential new product launches and strategic partnerships to drive growth[27]. - The Group has initiated collaboration with a subsidiary of Hon Hai Precision Industry Co., Ltd. to provide end-to-end repair services, with expectations for steady growth in the repairs and service support segment in the coming quarters[41]. - The management aims to improve efficiency and achieve a higher profit margin by closely monitoring market conditions and adjusting strategies and operations as necessary[41]. - The Group is exploring investment opportunities in the "Circular Economy" business segment to enhance its development foundation in "Green Technology"[181]. Corporate Governance and Compliance - The Group's audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting and internal control systems[64]. - The Group has complied with the Corporate Governance Code during the nine months ended September 30, 2023[64]. Market and Segment Analysis - The Group's sales and distribution of IT products generated revenue of approximately HK$57,826,000, while repairs and service support contributed approximately HK$14,526,000 for the nine months ended September 30, 2023[43]. - The Group has adjusted its business model to focus on the distribution of IT products with higher gross margins to improve liquidity[66]. - The Group is focusing on expanding its business in the post-sales service of 3C products and aims to increase its market share in the "Circular Economy"[1]. - The repairs and service support segment is believed to have significant growth potential, prompting the Group to allocate more resources to this area[1]. Financial Position - As of September 30, 2023, the Group's net current assets were approximately HK$133.3 million, compared to approximately HK$142.3 million as of December 31, 2022[200]. - Cash and cash equivalents amounted to approximately HK$120.3 million as of September 30, 2023, down from approximately HK$138.1 million as of December 31, 2022[200].

Financial Performance - For the six months ended June 30, 2023, the Group recorded a net profit of approximately HK$3,700,000, compared to HK$3,200,000 for the same period in 2022, indicating a year-on-year increase in profitability despite a decrease in total revenue [18]. - The Group's revenue from contracts with customers was HK$28,502,000 for the six months ended June 30, 2023, down from HK$315,840,000 in the same period of 2022, reflecting a significant decline [16]. - The sales and distribution of IT products generated revenue of HK$20,530,000 for the six months ended June 30, 2023, compared to HK$312,184,000 in the same period of 2022, showing a substantial decline [16]. - Revenue for the first half of 2023 was HK$15,099,000, a decrease of 88.9% compared to HK$136,413,000 in the same period of 2022 [74]. - Gross profit for the first half of 2023 was HK$3,413,000, down 59.1% from HK$8,358,000 in the first half of 2022 [74]. - Profit for the period increased to HK$2,871,000 in 2023, compared to HK$2,278,000 in 2022, representing a growth of 26.1% [74]. - The profit for the period after tax expenses was HK$3,736,000 [153]. - Profit attributable to the owners of the Company was approximately HK$3.1 million for the six months ended June 30, 2023, compared to HK$3.2 million for the same period last year [69]. - The company reported a profit for the period of HK$2,278,000 for the six months ended June 30, 2023, compared to a profit of HK$3,780,000 in the same period of 2022 [184]. Financial Position - The Group's gearing ratio as of June 30, 2023, was approximately 4.9%, a decrease from 8.3% as of December 31, 2022, indicating improved financial stability [4]. - The total assets as of 30 June 2023 were HK$161,298,000, a decrease from HK$173,385,000 as of 31 December 2022 [51]. - Total liabilities decreased to HK$7,585,000 as of June 30, 2023 from HK$13,341,000 as of 31 December 2022 [53]. - The total equity as of June 30, 2023, was HK$153,713,000, down from HK$160,044,000 at the beginning of the year [77]. - Cash and cash equivalents at the end of the period were HK$127,573,000, compared to HK$121,071,000 at the end of the same period last year [60]. - Trade receivables as of June 30, 2023, amounted to HK$2,241,000, significantly down from HK$6,656,000 as of December 31, 2022, indicating a decrease of 66.38% [198]. - Total trade and other receivables decreased to HK$11,691,000 as of June 30, 2023, from HK$14,592,000 as of December 31, 2022, representing a decline of 19.66% [198]. - The Group's financial assets at amortized cost increased to HK$11,198,000 as of June 30, 2023, from HK$10,777,000 as of December 31, 2022, reflecting an increase of 3.90% [198]. Operational Strategy - The Group aims to expand its market share in the "Circular Economy" by focusing on post-sales services for 3C products and establishing sales channels for refurbished products [1]. - The Group plans to set up an additional repair center in Guangdong Province to enhance its service offerings for smart devices and related accessories, aiming to strengthen its position as a corporate repair partner [1]. - The repairs and service support segment is expected to contribute significantly to the Group's overall revenue, with a relatively high profit margin, indicating potential for growth [1]. - The Group is undertaking a structured process to enhance its repair and service support segment to improve profitability and efficiency in response to increased competition and technological advances [1]. - The management will closely monitor market conditions and assess their impact on the Group's financial position and operational performance [1]. Financial Reporting and Compliance - The interim condensed consolidated financial statements have been prepared in accordance with Hong Kong Accounting Standard 34, with no significant issues identified during the review [44][46]. - The report confirms that the information contained is accurate and complete in all material respects, with no misleading or deceptive elements identified [40]. - The interim report includes a condensed consolidated statement of financial position as of June 30, 2023, and related financial statements for the six-month period then ended [34]. - The Directors collectively and individually accept full responsibility for the accuracy of the report's contents [40]. - The review scope was less extensive than an audit, thus not providing assurance of identifying all significant matters [36]. - The financial statements for the six months ended June 30, 2023, are unaudited but have been reviewed according to the Hong Kong Standard on Review Engagements 2410 [86]. Market Risks and Financial Management - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk [5.1]. - The Group's liquidity risk assessment shows no material change in the contractual undiscounted cash outflows for financial liabilities compared to year-end [5.2]. - The carrying amounts of the Group's financial assets and liabilities approximate their fair values due to their short maturities [5.3]. - The Group's financial risk management policies have remained unchanged since year-end [5.1]. Dividend Policy - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2023 [69]. - The company did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year [173].

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之內容概不負責，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分內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 ® CircuTech International Holdings Limited 訊 智 海 國 際 控 股 有 限 公司 （於開曼群島註冊成立之有限公司） 8051 （股份代號： ） 截至二零二三年六月三十日止六個月之中期業績公告 GEM 香港聯合交易所有限公司（「聯交所」） 之特色 GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公 司帶有較高投資風險。有意投資之人士應了解投資於該等公司之潛在風險，並應經過審慎周 詳的考慮後方作出投資決定。 GEM GEM 由於在 上市的公司普遍為中小型公司，在 買賣的證券可能會較於主板買賣之證券 GEM 承受較大之市場波動風險，同時無法保證在 買賣之證券會有高流通量之市場。 GEM GEM ...

Financial Performance - Revenue from external customers for IT product sales and distribution was HK$10.91 million, while repair and service support revenue was HK$2.49 million, totaling HK$13.40 million for the quarter[3] - Segment profit for IT product sales and distribution was HK$458,000, and repair and service support segment profit was HK$1.03 million, resulting in a total segment profit of HK$1.49 million[3] - Operating profit for the quarter was HK$727,000, and the share of net profit from an associate accounted for using the equity method was HK$439,000[3] - Profit before income tax was HK$1.17 million, with income tax expenses of HK$301,000, leading to a net profit for the period of HK$865,000[3] - Revenue for the three months ended 31 March 2023 was HK$13.403 million, a significant decrease from HK$179.427 million in the same period last year[26] - Gross profit for the period was HK$3.346 million, compared to HK$8.614 million in the previous year[26] - Earnings per share for the period were HK$3.69 cents, compared to HK$3.90 cents in the previous year[26] - Total revenue for the three months ended 31 March 2023 was HK$13.4 million, a significant decrease of HK$166.0 million compared to HK$179.4 million in the same period last year[34][41] - Revenue from sales and distribution of IT products dropped to HK$10.9 million in Q1 2023 from HK$177.6 million in Q1 2022[30] - Revenue from repairs and service support increased to HK$2.5 million in Q1 2023 from HK$1.8 million in Q1 2022[30] - Overall gross profit margin improved significantly from 4.8% in Q1 2022 to 25.0% in Q1 2023, driven by higher-margin repair and service support business[41] - The company recorded a profit attributable to owners of HK$0.9 million in Q1 2023, unchanged from Q1 2022[41] - Revenue from external customers for the three months ended 31 March 2023 was HK$179.427 million, with HK$177.632 million from IT product sales and distribution and HK$1.795 million from repairs and service support[48] - Segment profit for the three months ended 31 March 2023 was HK$3.904 million, with HK$3.465 million from IT product sales and distribution and HK$439,000 from repairs and service support[48] - Operating profit for the three months ended 31 March 2023 was HK$2.422 million, with a share of net profit of an associate accounted for using the equity method of HK$130,000[48] - Profit before income tax for the three months ended 31 March 2023 was HK$2.552 million, with income tax expenses of HK$1.638 million[48] - Profit for the period ended 31 March 2023 was HK$914,000[48] - Total comprehensive income for the period ended 31 March 2023 was HK$1.965 million, including exchange differences arising on translation of foreign operations of HK$1.100 million[53] - The Group recorded a net profit of approximately HK$0.9 million for both the three months ended 31 March 2023 and 2022[79] - Basic earnings per share attributable to ordinary equity holders was HK$3.69 cents for the three months ended 31 March 2023, compared to HK$3.90 cents in the same period in 2022[91] Revenue Breakdown by Region - Revenue from Japan increased to HK$6.6 million in Q1 2023 from HK$0.99 million in Q1 2022[35] - Revenue from the United States decreased sharply to HK$1.4 million in Q1 2023 from HK$104.3 million in Q1 2022[35] - Japan market contributed approximately 49.1% of the Group's revenue for the three months ended 31 March 2023, compared to 0.6% in the same period in 2022[70][72] - Hong Kong market contributed approximately 22.2% of the Group's revenue for the three months ended 31 March 2023, compared to 6.0% in the same period in 2022[70][72] - Australia market contributed approximately 10.6% of the Group's revenue for the three months ended 31 March 2023, compared to 1.0% in the same period in 2022[70][72] Costs and Expenses - Salaries, wages, and other benefits amounted to HK$707,000, and depreciation charges were HK$244,000 for the quarter[3] - Unallocated corporate expenses were HK$894,000, which includes various operational costs not directly tied to specific segments[3] - Cost of sales decreased to approximately HK$10.0 million for the three months ended 31 March 2023, compared to HK$170.8 million for the same period in 2022[73] - Gross profit decreased by approximately HK$5.3 million for the three months ended 31 March 2023, with overall gross margin increasing from 4.8% to 25.0%[74] - Depreciation of property, plant and equipment was HK$15,000 for the three months ended 31 March 2023, compared to HK$587,000 in the same period in 2022[63] - Depreciation of right-of-use assets was HK$506,000 for the three months ended 31 March 2023, compared to HK$293,000 in the same period in 2022[63] - Interest expenses on lease liabilities were HK$41,000 for the three months ended 31 March 2023, compared to HK$14,000 in the same period in 2022[63] - Net foreign exchange losses were HK$145,000 for the three months ended 31 March 2023, compared to HK$100,000 in the same period in 2022[63] - Income tax expenses were HK$301,000 for the three months ended 31 March 2023, compared to HK$1,638,000 in the same period in 2022[66] - Selling and distribution expenses were reduced by approximately 80.7% during the period, primarily due to adjustments in the business model to improve efficiency and save staff costs[79] - Administrative expenses decreased by approximately 31.9% to HK$3.1 million for the three months ended 31 March 2023[79] Corporate Governance and Compliance - The company's Audit Committee reviewed the unaudited condensed consolidated financial information for the quarter and provided advice and comments[16] - The company has adopted a code of conduct regarding securities transactions by Directors, ensuring compliance with GEM Listing Rules[12] - The company has complied with the Corporate Governance Code as set out in Part 2 of Appendix 15 to the GEM Listing Rules during the quarter[12] - No sales between segments were carried out during the three months ended 31 March 2023 and 2022[46] - Interest income from bank deposits, interest on lease liabilities, and corporate expenses are not allocated to segments as they are managed by the central treasury function[46] - The adoption of new and amended accounting standards effective from 1 January 2023 did not have a material impact on the Group's financial information for the three months ended 31 March 2023[54] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended 31 March 2023[89] - No arrangements were made during the three months ended 31 March 2023 for Directors to acquire benefits through shares or debentures[85] - No competing business interests were held by Directors or controlling shareholders during the three months ended 31 March 2023[89] Business Strategy and Future Plans - Segment profit to segment revenue ratio increased from approximately 2.0% to approximately 4.2% due to higher expected gross margins[24] - The Group's repair and service support segment is expected to grow steadily in the coming quarters[21] - The Shenzhen repair center commenced operation during the period, providing end-to-end repair services[21] - The Group adjusted its sales and distribution business model to focus on higher gross margin IT products, improving liquidity[24] - The Group aims to shorten the cash conversion cycle by improving inventory turnover days and mitigating inventory risk[21] - The Group allocated more resources to develop its repair and service support segment and explore investment opportunities in the "Circular Economy"[24] - The Group expects intense competition in the IT product distribution business and plans to adjust operations in response to technological advances and increased competition[78] - The Group aims to diversify its business portfolio by focusing on the repairs and service support segment, which currently contributes significantly to overall revenue and has a relatively high profit margin[78] - The Group plans to set up an additional repair center in Guangdong Province to expand services to cover more product types, including smart devices and related accessories[78] - The Group is exploring opportunities in the "Circular Economy" business segment, including after-sales services and recycling of 3C products to reproduce raw materials[78] Shareholder Information - Foxconn (Far East) Limited holds 11,853,524 shares, representing 50.58% of the company's issued share capital[84] - Hon Hai Precision Industry Co., Ltd. is deemed to have an interest in the shares held by Foxconn (Far East) Limited, also representing 50.58% of the issued share capital[89] Liquidity and Financial Position - As of 31 March 2023, the Group had net current assets of approximately HK$143.5 million and cash and cash equivalents of approximately HK$135.9 million[81] - The Group's gearing ratio decreased to approximately 6.4% as of 31 March 2023, compared to 51.5% as of 31 March 2022[81] Dividend Policy - No interim dividend was recommended for Q1 2023, consistent with Q1 2022[41]

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之內容概不負責，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之任何損失承擔任何責任。 ® CircuTech International Holdings Limited 訊 智 海 國 際 控 股 有 限 公司 （於開曼群島註冊成立之有限公司） 8051 （股份代號： ） 截至二零二三年三月三十一日止三個月之季度業績公告 GEM 香港聯合交易所有限公司（「聯交所」） 之特色 GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公 司帶有較高投資風險。有意投資之人士應了解投資於該等公司之潛在風險，並應經過審慎周 詳的考慮後方作出投資決定。 GEM GEM 由於在 上市的公司普遍為中小型公司，在 買賣的證券可能會較於主板買賣之證券 GEM 承受較大之市場波動風險，同時無法保證在 買賣之證券會有高流通量之市場。 GEM GEM ...

Financial Performance - Total revenue for the year ended December 31, 2022, was approximately HK$368.2 million, representing a 5.2% increase compared to HK$349.9 million in 2021[106]. - Revenue from sales and distribution of IT products was HK$357.3 million, accounting for approximately 97.1% of total revenue[100][106]. - Revenue from repairs and service support increased from approximately HK$4.7 million in 2021 to approximately HK$10.8 million in 2022, marking a significant growth[112]. - The increase in revenue was primarily driven by the rise in demand and supply in the global secondary IT products market, boosting sales in the IT products distribution segment[118]. - The cost of sales for the year ended December 31, 2022, increased to approximately HK$341,591,000, reflecting a 5.3% increase from approximately HK$324,322,000 for the year ended December 31, 2021[118]. - Gross profit increased by approximately HK$1,021,000 to about HK$26,569,000 for the year ended December 31, 2022[134]. - Net profit for the year increased by approximately HK$3,189,000 to about HK$5,421,000, with a net profit margin rising to approximately 1.5%[136]. - Basic earnings per share increased to HK$23.13 in 2022, compared to HK$9.52 in 2021[123]. - The United States contributed approximately 56.3% of the Group's total revenue for the year ended December 31, 2022, up from 31.6% in 2021[132]. Governance and Compliance - The Audit Committee reviewed the Group's annual results for the year ended December 31, 2021, and quarterly results for the three months ended March 31, 2022, six months ended June 30, 2022, and nine months ended September 30, 2022, including consolidated financial statements[2]. - The Board reviewed the Company's corporate governance policies and practices, ensuring compliance with the GEM Listing Rules and the CG Code[5]. - The Company confirmed that all Directors complied with the required standard of dealings in securities transactions during their tenure for the year ended December 31, 2022[5]. - The Group acknowledges the importance of compliance with legal and regulatory requirements and conducts ongoing reviews of relevant laws[43]. - The Group's compliance with the Corporate Governance Code was maintained throughout the year ended December 31, 2022[62]. - The Company has arranged insurance cover in respect of legal action against its Directors and officers during the year ended December 31, 2022[34]. - The Group has established procedures and internal controls for the handling and dissemination of inside information[33]. Risk Management - The Group has adopted a series of internal control policies and procedures to ensure effective and efficient operations, reliable financial reporting, and compliance with applicable laws and regulations[9]. - The Board is responsible for the design, implementation, monitoring, and review of the Group's risk management and internal control systems to safeguard the Company's assets[9]. - The Group has established an ongoing process for identifying, evaluating, and managing significant risks, with key procedures summarized in their internal control manual[8]. - The Group's risk management measures are integrated into daily operations, ensuring alignment with business strategies and risk tolerance[10]. - The Audit Committee also reviewed the risk management and internal control systems, ensuring their effectiveness and efficiency[2]. - The Board reviewed the effectiveness of the risk management and internal control systems, concluding they are effective and adequate for the Group[13][18]. - The Audit Committee regularly receives significant risk reports and evaluates the proper functioning of the risk management systems[16]. Strategic Initiatives - The Group aims to diversify its business portfolio and reduce reliance on a single business category, focusing on the repair and service support segment, which has a relatively high profit margin and significant growth potential[85]. - The Group plans to establish repair centers in Guangdong Province to expand its service offerings to cover more product types, including smart devices and related accessories, thereby solidifying its position as a corporate repair partner[85]. - The Group's strategy includes focusing resources on the repair and service support category to create more stable returns for shareholders[85]. - The Group is exploring investment opportunities in the "circular economy" sector, including providing after-sales services for third-party IT products and recycling 3C products for raw material regeneration[96]. - Management believes that strategic investments in related areas will help strengthen the foundation for "green technology" development and enhance the corporate image[96]. Human Resources and Management - The Group provides training programs classified into internal and external training to enhance employee efficiency and long-term development[176]. - The Group maintains a focus on employee professional development through training and team-building activities[176]. - The remuneration of Directors and senior management is reviewed by the Remuneration Committee based on the Company's operating results and individual performance[58]. - The Group employed 17 employees in Hong Kong and 15 employees in the People's Republic of China and overseas offices as of December 31, 2022[175]. - The Company aims to achieve board diversity measurable by objective criteria, including gender, age, and educational background[31]. Shareholder Relations - The Company encourages directors to attend annual general meetings to facilitate communication with shareholders[27]. - The Company maintains a high level of transparency to enhance investor relations through timely disclosures in annual, interim, and quarterly reports[28]. - The Group recognizes the importance of maintaining effective communication with key stakeholders, including employees, customers, and suppliers[43]. - The Group's dividend declaration is subject to various factors, including financial condition and market conditions[172]. Financial Position - As of December 31, 2022, the Group had net current assets of approximately HK$142,314,000 as of December 31, 2022, compared to approximately HK$125,266,000 in 2021[150]. - As of December 31, 2022, inventory levels decreased significantly to approximately HK$1,563,000 from HK$55,525,000 in 2021[141]. - The gearing ratio as of December 31, 2022, was approximately 8.3%, a significant decrease from approximately 53.4% in 2021[178]. - The Group did not have any borrowings during the year ended December 31, 2022[152]. Directors and Management Team - Mr. Hong was appointed as the executive director and chairman of the board on May 31, 2019, and is the CFO of New PCEBG, a business group of Hon Hai[184]. - Ms. Chen was appointed as the CEO and compliance officer on May 15, 2020, and is a senior director of Hon Hai[184]. - Mr. Han was appointed as the executive director and CFO on May 31, 2019, and is the finance manager of New PCEBG[184]. - The board includes a diverse range of expertise in finance, operations, and technology, enhancing strategic decision-making[184][185]. - The management team is committed to leveraging their extensive backgrounds to drive growth and innovation within the company[184][185].