Financial Performance - The Group recorded a turnover of approximately HK$349.6 million for the nine months ended 30 September 2022, representing an increase of approximately HK$160.0 million compared to HK$189.6 million for the same period last year[4]. - The gross profit margin slightly decreased to approximately 6.2% for the nine months ended 30 September 2022, down from approximately 8.0% for the same period in 2021[4]. - The net profit attributable to the owners of the Company was approximately HK$5.7 million for the nine months ended 30 September 2022, an increase of approximately HK$4.7 million compared to HK$1.0 million for the same period last year[4]. - The Group's profit before income tax for the nine months ended 30 September 2022 was approximately HK$8.997 million, compared to HK$1.126 million for the same period in 2021[6]. - The Group's profit for the period was approximately HK$5.703 million for the nine months ended 30 September 2022, compared to HK$960,000 for the same period in 2021[6]. - Total revenue for the nine months ended 30 September 2022 was HK$349,562,000, an increase from HK$189,554,000 in the same period of 2021, representing an increase of 84.5%[18]. - Revenue from sales and distribution of IT products for the nine months ended 30 September 2022 was HK$341,366,000, compared to HK$186,657,000 in the same period of 2021, reflecting an increase of 82.8%[18]. - The Group recorded a net profit of approximately HK$5.7 million for the nine months ended 30 September 2022, compared to approximately HK$1.0 million for the same period in 2021[90]. Expenses and Costs - The cost of sales increased to approximately HK$327.8 million for the nine months ended 30 September 2022, compared to approximately HK$174.5 million for the same period in 2021[88]. - Selling and distribution costs for the nine months ended 30 September 2022 were approximately HK$4.312 million, compared to HK$4.703 million for the same period in 2021[6]. - Administrative expenses for the nine months ended 30 September 2022 were approximately HK$10.356 million, slightly down from HK$10.666 million for the same period last year[6]. - Selling and distribution expenses decreased by approximately 8.3% to approximately HK$4.3 million for the nine months ended 30 September 2022[90]. - Administrative expenses decreased by approximately 2.9% to approximately HK$10.4 million for the nine months ended 30 September 2022[90]. Dividends and Shareholder Information - The Board does not recommend the payment of a dividend for the nine months ended 30 September 2022, consistent with the previous year[4]. - The Group's weighted average number of ordinary shares for the nine months ended September 30, 2022, remained unchanged at 23,434,000 shares[63]. - Foxconn (Far East) Limited held 11,853,524 shares, representing approximately 50.58% of the issued share capital of the Company as of 30 September 2022[102]. Comprehensive Income and Equity - Other comprehensive income for the period included an exchange difference on translation of foreign operations amounting to HK$3,286,000[10]. - The total comprehensive income for the nine months ended 30 September 2022 was HK$2,563,000, compared to HK$921,000 in the same period of 2021[10]. - The company’s accumulated losses at 30 September 2022 were HK$49,516,000, compared to HK$56,491,000 at the end of the previous year[10]. - The company’s total equity attributable to owners of the Company was HK$148,569,000 as of 30 September 2022[10]. Market and Business Segments - Revenue from external customers for the nine months ended September 30, 2022, was HK$349,562,000, with HK$341,366,000 from sales and distribution of IT products and HK$8,196,000 from repairs and service support[23]. - The Group continues to focus on the sales and distribution of IT products and the provision of repairs and service support as its main business segments[22]. - The Group plans to focus resources on the repairs and service support segment, which has a relatively high profit margin and significant growth potential[92]. - The Group is exploring opportunities in the "Circular Economy" business segment, including after-sales services and recycling of 3C products[92]. Governance and Compliance - The Company has fully complied with the Corporate Governance Code during the nine months ended 30 September 2022[117]. - The Audit Committee consists of three independent non-executive Directors, ensuring oversight of the Group's financial reporting and internal control systems[118]. - The Company has adopted a code of conduct regarding securities transactions by Directors, confirming compliance during the nine months ended 30 September 2022[116]. - There were no arrangements enabling Directors to acquire benefits through the acquisition of shares or debentures of the Company during the nine months ended 30 September 2022[100]. Cash and Current Assets - As of 30 September 2022, the Group's net current assets were approximately HK$130.8 million, with cash and cash equivalents of approximately HK$120.6 million[95]. - Cash and cash equivalents amounted to approximately HK$120,603,000 as of 30 September 2022, up from approximately HK$98,850,000 as of 31 December 2021[97]. - The capital-to-debt ratio decreased to 10.6% as of 30 September 2022, down from 53.4% as of 31 December 2021, primarily due to a reduction in accounts payable[95]. - The gearing ratio decreased to 10.6% as of 30 September 2022, down from 53.4% as of 31 December 2021, primarily due to a decrease in trade payables[98]. Directors and Management - The executive Directors as of the report date include Mr. Hong Sung-Tai, Ms. Chen Ching-Hsuan, Mr. Han Chun-Wei, and Mr. Tsai Biing-Hann[122]. - The non-executive Director is Mr. Kao Chao Yang, while the independent non-executive Directors are Mr. Yeung Wai Hung Peter, Mr. Li Robin Kit Ling, and Mr. Miao Benny Hua-ben[122]. - The Chairman of the Board is Mr. Hong Sung-Tai[122].

Financial Performance - The Group recorded a turnover of approximately HK$315.8 million for the six months ended 30 June 2022, representing an increase of approximately HK$193.2 million compared to the same period last year[4]. - Revenue for the first half of 2022 was HK$136,413,000, a significant increase of 170% compared to HK$50,500,000 in the same period of 2021[14]. - Total revenue for the six months ended June 30, 2022, reached HK$315,840,000, compared to HK$122,571,000 for the same period in 2021, marking an increase of 158%[97]. - Profit for the period reached HK$2,278,000, compared to HK$359,000 in the previous year, indicating a substantial growth in profitability[14]. - The Group recorded a profit attributable to the owners of the Company of approximately HK$3.2 million for the six months ended 30 June 2022, an increase of approximately HK$2.8 million compared to HK$0.4 million for the same period last year[4]. - The total operating profit for the six months ended June 30, 2022, was HK$6,091, compared to HK$554 in the same period of 2021, representing a substantial increase[77]. - The company reported a profit before income tax of HK$6,332 for the six months ended June 30, 2022, compared to HK$830 in the same period of 2021, reflecting a growth of 663%[77]. Profitability Metrics - The gross profit margin of the Group decreased to approximately 5.4% for the six months ended 30 June 2022, down from approximately 8.2% for the same period in 2021[4]. - Gross profit for the period was HK$8,358,000, up from HK$5,492,000 in 2021, reflecting a gross margin improvement[14]. - Basic earnings per share for the six months ended 30 June 2022 was HK$13.62, compared to HK$1.61 for the same period in 2021, reflecting an increase of 746%[114]. - The company reported a basic and diluted earnings per share of 9.72 HK cents, compared to 1.53 HK cents in the same period last year[16]. Revenue Breakdown - Revenue from external customers for the six months ended June 30, 2022, was HK$315,840, a significant increase from HK$122,571 in the same period of 2021, representing a growth of 158%[77]. - Revenue from sales and distribution of IT products accounted for approximately 98.8% of the Group's total revenue, driven by increased demand and supply in the global secondary IT products market[155]. - Revenue from repairs and service support increased from approximately HK$1.3 million for the six months ended June 30, 2021, to approximately HK$3.7 million for the same period in 2022, primarily due to the expansion of IT product service support[156]. - The United States market contributed approximately 63.9% of the Group's revenue, up from 12.5% in the previous year, while Taiwan and Netherlands markets contributed 21.9% and 7.8%, respectively[165]. Expenses and Costs - The cost of sales was HK$128,055,000, which is significantly higher than HK$45,008,000 in the previous year, reflecting increased operational costs[14]. - Administrative expenses were HK$3,790,000, slightly down from HK$3,838,000 in 2021, indicating cost control efforts[14]. - Selling and distribution expenses increased to approximately HK$3.7 million, primarily driven by staff costs and commissions[169]. - Income tax expenses for the six months ended June 30, 2022, amounted to HK$3,140,000, compared to HK$453,000 for the same period in 2021, indicating a substantial increase[107]. Assets and Liabilities - Total assets as of June 30, 2022, were HK$174,287,000, down from HK$223,948,000 at the end of 2021, showing a decrease in total assets[18]. - Total liabilities decreased from HK$77,942,000 as of December 31, 2021, to HK$25,821,000 as of June 30, 2022, representing a reduction of approximately 66.9%[20]. - Current liabilities, including trade and other payables, decreased from HK$73,003,000 to HK$10,773,000, a decline of about 85.3%[20]. - Cash and cash equivalents increased to HK$121,071,000 from HK$98,850,000, indicating improved liquidity[18]. Market and Business Strategy - The Group plans to continue expanding its market presence and investing in new technologies to drive future growth[73]. - The Group is focusing on the growth of the repairs and service support segment, which has a relatively high profit margin and significant growth potential[181]. - The Group aims to improve inventory turnover days and mitigate inventory risk to shorten the cash conversion cycle[145]. - The Group has partnered with international brands for trade-in programs for used smart devices, broadening supplier channels and driving revenue growth[144]. Financial Risks and Management - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[42]. - The Group's financial risk management policies have not changed since year-end[42]. - The significant judgements made by management in applying the Group's accounting policies were the same as those that applied to the consolidated financial statements for the year ended December 31, 2021[42]. Shareholder Information - The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2022, consistent with the previous year[4]. - As of 30 June 2022, Foxconn (Far East) Limited held 11,853,524 shares, representing approximately 50.58% of the issued share capital of the Company[198]. - No Directors or chief executives had any interests or short positions in shares or debentures of the Company as of 30 June 2022[194].

Financial Performance - The Group recorded a turnover of approximately HK$179.4 million for the three months ended 31 March 2022, representing an increase of approximately HK$107.3 million compared to the same period last year[5]. - The gross profit margin of the Group slightly decreased to approximately 4.8% for the three months ended 31 March 2022, down from approximately 6.4% in the same period last year[5]. - The Group recorded a profit attributable to the owners of the Company of approximately HK$0.9 million for the three months ended 31 March 2022, an increase of approximately HK$0.9 million compared to the same period last year[6]. - The Group's profit before income tax for the three months ended 31 March 2022 was approximately HK$2.6 million, compared to HK$0.02 million in the same period last year[11]. - Total comprehensive income for the period was approximately HK$0.9 million, compared to HK$0.75 million in the same period last year[11]. - The Group's earnings per share attributable to owners for the three months ended 31 March 2022 was 3.90 HK cents, compared to 0.08 HK cents in the same period last year[11]. - Total revenue for the three months ended March 31, 2022, was HK$179,427,000, a significant increase from HK$72,071,000 in the same period of 2021, representing a growth of 149.8%[21]. - The total comprehensive income for the period ended March 31, 2022, was HK$925,000, compared to HK$750,000 for the same period in 2021, indicating an increase of 23.3%[20]. - Basic earnings per share for the three months ended 31 March 2022 was HK$3.90, a significant increase from HK$0.08 in the same period of 2021[47]. Revenue Breakdown - Revenue from the sales and distribution of IT products reached HK$177,632,000, compared to HK$71,963,000 in the previous year, marking an increase of 146.5%[21]. - Revenue from repairs and service support increased to HK$1,795,000 from HK$108,000, reflecting a substantial growth of 1,560.2%[21]. - Revenue from external customers for the three months ended March 31, 2022, was HK$177,632,000, compared to HK$1,795,000 for the previous year, totaling HK$179,427,000[27]. - Revenue from sales and distribution of IT products accounted for approximately 99.0% of the Group's total revenue for the three months ended 31 March 2022[61]. - Revenue from repair and service support increased from approximately HK$0.1 million to approximately HK$1.8 million for the three months ended 31 March 2022[61]. - The United States market contributed approximately 58.1% of the Group's revenue, up from 14.2% in the same period of 2021[64]. Costs and Expenses - The cost of sales for the three months ended 31 March 2022 was approximately HK$170.8 million, compared to HK$67.5 million in the same period last year[11]. - Administrative expenses increased by approximately 21.8% to HK$4.5 million, primarily due to the expansion of repair and service support operations[71][73]. - The Group incurred income tax expenses of HK$1,638,000 for the three months ended March 31, 2022, compared to HK$1,000 for the same period in 2021[43]. - The depreciation of property, plant, and equipment for the three months ended March 31, 2022, was HK$587,000, compared to HK$602,000 for the same period in 2021[36]. Dividends and Shareholder Information - The Board does not recommend the payment of an interim dividend for the three months ended 31 March 2022, consistent with the previous year[7]. - No dividend was recommended for the three months ended 31 March 2022, consistent with the same period in 2021[51]. - None of the Directors or chief executives had interests in the shares or debentures of the Company as of March 31, 2022[82]. - The Company did not engage in any arrangements to enable Directors to acquire benefits through the acquisition of shares or debentures during the three months ended March 31, 2022[84]. - There were no interests in a business that competes with the Group's business from Directors or controlling shareholders during the three months ended March 31, 2022[91]. Strategic Focus and Future Outlook - The company continues to engage in the sales and distribution of IT products and the provision of repairs and other service support, maintaining its operational focus[22]. - The Group plans to focus resources on the repairs and service support segment, which has a relatively high profit margin and significant growth potential[76]. - The Group is exploring investment opportunities in the "Circular Economy" business segment, including after-sales services and recycling of 3C products[76]. - Management anticipates potential fundraising activities to support working capital expenditure for business growth and international expansion[76]. - The Group aims to improve inventory turnover days and mitigate inventory risk to manage working capital effectively[51]. - The Group plans to explore opportunities for sustainable and stable lines of business in light of lessons learned from COVID-19 supply constraints[56]. - Future outlook includes potential growth opportunities in emerging markets and technology advancements[100]. - The company aims to enhance its product offerings through ongoing research and development efforts[100]. Corporate Governance and Structure - The company is incorporated in the Cayman Islands and has a registered office in Grand Cayman[15]. - The stock code for the company is 8051, which is essential for investors tracking its market performance[98]. - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[101]. - The report highlights the company's commitment to transparency and accountability in its financial disclosures[100]. - The executive Directors as of the report date include Mr. Hong Sung-Tai, Ms. Chen Ching-Hsuan, Mr. Han Chun-Wei, and Mr. Tsai Biing-Hann[96]. - The company is focused on expanding its market presence and exploring new strategic initiatives[100]. Audit and Compliance - The financial information presented is unaudited and prepared in accordance with Hong Kong Financial Reporting Standards[15]. - The principal accounting policies applied are consistent with those of the financial statements for the year ended December 31, 2021[17]. - The adoption of new and amended standards did not have a material impact on the Group's financial information for the three months ended March 31, 2022[17]. - The Audit Committee reviewed the unaudited condensed consolidated financial information for the three months ended March 31, 2022[96].

Company Overview - CircuTech International Holdings Limited is incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange, which is designed for small and mid-sized companies[1][3]. - The company acknowledges the higher investment risks associated with companies listed on GEM compared to those on the Main Board[2][4]. - The registered office is located in Grand Cayman, Cayman Islands, with a principal place of business in Hong Kong[13]. - The principal bankers for the company include Hang Seng Bank Limited and Citibank N.A.[13]. - The company’s stock code is 8051, indicating its listing on the GEM[13]. - The audit is conducted by BDO Limited, a registered public interest entity auditor[13]. Financial Performance - The Group recorded revenue of approximately HK$349.9 million for the year ended December 31, 2021, representing a decrease of approximately 6.2% compared to the previous year[21]. - Revenue from sales and distribution of IT products accounted for approximately 98.6% of total revenue, decreasing from HK$372,643,000 in 2020 to HK$345,129,000 in 2021[30]. - Revenue from repairs and service support increased significantly from approximately HK$0.3 million in 2020 to approximately HK$4.7 million in 2021, driven by expanded service support for electronic products[32]. - The Group's revenue for the year ended December 31, 2021, was approximately HK$349,870,000, a decrease from HK$372,959,000 in 2020[31]. - Gross profit decreased by approximately HK$5,356,000 to approximately HK$25,548,000 for the year ended December 31, 2021, with a gross profit margin declining from approximately 8.3% to approximately 7.3%[53]. - Net profit attributable to the Shareholders decreased by approximately HK$6,765,000 to approximately HK$2,232,000, resulting in a net profit margin of approximately 0.6% for the year[53]. - Administrative expenses decreased by approximately 15.6% to approximately HK$14,870,000 due to reduced professional fees and foreign exchange gains[53]. - The Group's total revenue for the year ended 31 December 2021 was approximately HK$349,870,000, a decrease of about 6.2% compared to approximately HK$372,959,000 for the year ended 31 December 2020[51]. Business Strategy and Development - The Group plans to focus resources on developing its repairs and service support segment, including setting up repair centers for renowned IT brands[22]. - The Group is exploring investment opportunities in the "Circular Economy" business segment, including after-sales services and recycling of third-party IT products[22]. - The Group developed an online trade-in platform, which has seen steady growth in trade-in volume, partially offsetting revenue declines from refurbished and end-of-life products[24]. - A new repair center commenced operations, providing end-to-end repair services, including reverse logistics and customer delivery[26]. - The Group aims to improve efficiency and achieve higher profit margins by continuously reviewing and re-evaluating its business model[24]. - The Group's management expertise and affiliation with Foxconn Technology Group provide competitive advantages in the global distribution market[24]. Market Performance - The United States market contributed approximately 31.6% of total revenue in 2021, surpassing Hong Kong's contribution of approximately 30.3%[37]. - The Taiwan market's contribution to total revenue increased to approximately 20.9% in 2021, up from 4.4% in 2020[37]. - The Group launched several new products, including MP Automatic License Plate Recognition Camera and new AI cameras, to enhance its product portfolio and market competitiveness[40]. Risk Management - The Group's insurance coverage may be insufficient to cover all operational risks, which could adversely affect its financial performance[48]. - The Group will closely monitor the impacts of COVID-19 on its financial position and operating results[51]. - The Group is exposed to foreign exchange risk primarily with respect to USD and Euro, with no foreign currency derivative financial instruments entered into for the year ended 31 December 2021[69]. - The management has a policy to manage foreign exchange risk by performing regular reviews of the Group's net foreign exchange exposures[69]. Corporate Governance - The Board of Directors consists of 8 members, including 4 executive directors, 1 non-executive director, and 3 independent non-executive directors[146]. - The Company has complied with the required code provisions set out in the Corporate Governance Code contained in Appendix 15 to the GEM Listing Rules during the year ended December 31, 2021[169]. - The Company aims to achieve board diversity based on measurable criteria, including gender, age, and professional qualifications[150]. - The Company has established good corporate governance practices to enhance accountability and protect shareholder rights[169]. - The Audit Committee consists of independent non-executive Directors and meets four times a year, with two meetings held without the presence of executive Directors[175]. Human Resources - The Group employed 20 full-time employees in Hong Kong and 15 in the People's Republic of China and overseas as of December 31, 2021[61]. - The Group's employee costs amounted to approximately HK$13,408,000 for the year ended December 31, 2021, compared to HK$13,719,000 in 2020[61]. Shareholder Information - The Company does not have a fixed dividend policy and did not recommend the payment of a dividend for the year ended December 31, 2021[55]. - The distributable reserves of the Company at December 31, 2021, totaled HK$108,417,000, down from HK$111,263,000 in 2020[100]. - As of December 31, 2021, Foxconn (Far East) Limited holds 11,853,524 shares, representing approximately 50.58% of the issued share capital of the Company[114]. Internal Control and Compliance - The Company has adopted written terms of reference for its committees in compliance with the Corporate Governance Code as set out in the GEM Listing Rules[174][180]. - The Board is responsible for the implementation and review of the internal control system, ensuring its effectiveness and efficiency[184]. - The Group has established a series of internal control policies aimed at achieving effective operations and reliable financial reporting[184]. - The Company has established procedures for handling and disseminating inside information, adhering to GEM Listing Rules[195].

Financial Performance - The Group recorded a turnover of approximately HK$189.6 million for the nine months ended 30 September 2021, representing a decrease of approximately HK$100.2 million (or approximately 34.6%) compared to the same period last year[8]. - The gross profit margin of the Group slightly decreased to approximately 8.0% for the nine months ended 30 September 2021, down from approximately 8.8% for the same period in 2020[8]. - The Group recorded a net profit attributable to the owners of the Company of approximately HK$1.0 million for the nine months ended 30 September 2021, a decrease of approximately HK$6.8 million (or approximately 87.6%) compared to the same period last year[9]. - Revenue for the three months ended 30 September 2021 was approximately HK$66.98 million, compared to HK$113.31 million for the same period in 2020, representing a decrease of approximately 41.0%[13]. - The Group's gross profit for the nine months ended 30 September 2021 was approximately HK$15.1 million, down from HK$25.4 million for the same period in 2020[13]. - Profit before income tax for the nine months ended 30 September 2021 was approximately HK$1.13 million, down from HK$10.11 million for the same period in 2020[13]. - For the three months ended September 30, 2021, the total comprehensive income was HK$ (487,000), a decrease from HK$ 4,849,000 in the same period of 2020[15]. - Profit for the period attributable to owners of the Company was HK$ 583,000, down from HK$ 2,506,000 in the same period of 2020[15]. - Basic and diluted earnings per share attributable to owners of the Company was 2.49 HK cents, compared to 10.69 HK cents for the same period in 2020[15]. - For the nine months ended September 30, 2021, total comprehensive income was HK$ 921,000, compared to HK$ 9,778,000 for the same period in 2020[15]. Revenue Breakdown - Revenue from external customers for the nine months ended September 30, 2021, was HK$189,554, a decrease from HK$289,794 in the same period of 2020, representing a decline of 34.5%[31]. - Revenue from sales and distribution of IT products accounted for approximately 98.5% of the Group's total revenue, with sales declining due to technological advancements leading to a decrease in quantity and price of third-party IT products[90]. - Revenue from repairs and service support increased from approximately HK$0.2 million to approximately HK$2.9 million, primarily due to expanded service support for electronic products beyond video surveillance products[91]. - The Group's revenue from sales and distribution of IT products was approximately HK$186.7 million for the nine months ended 30 September 2021, down from HK$289.6 million in the same period last year[87]. - The Group's repair and service support revenue was approximately HK$2.9 million for the nine months ended 30 September 2021, compared to HK$0.2 million in the previous year[89]. Expenses and Costs - Administrative expenses and research and development expenditures for the nine months ended 30 September 2021 totaled approximately HK$10.67 million, compared to HK$13.14 million for the same period in 2020[13]. - The cost of sales decreased by approximately 34.0% to approximately HK$174.5 million for the nine months ended September 30, 2021, compared to HK$264.4 million for the same period in 2020[97]. - Selling and distribution expenses decreased by approximately 6.7% to approximately HK$4.7 million for the nine months ended September 30, 2021[104]. - Administrative expenses decreased by approximately 18.8% to approximately HK$10.7 million for the nine months ended September 30, 2021[105]. - Total finance costs for the nine months ended September 30, 2021, were HK$1,375, compared to HK$29 in the same period of 2020[31]. Taxation and Other Income - The Group's income tax credit for the nine months ended September 30, 2021 was approximately HK$166, compared to an expense of HK$2.35 million for the same period in 2020[13]. - The Group's other income for the nine months ended September 30, 2021 was approximately HK$2.06 million, down from HK$3.26 million for the same period in 2020[13]. - The company recognized government subsidies of approximately HK$648,000 for the nine months ended September 30, 2020, but no subsidies were recognized for the same period in 2021[52]. Shareholder Information - Foxconn (Far East) Limited holds 11,853,524 shares, representing approximately 50.58% of the issued share capital of the Company as of 30 September 2021[125]. - The Company did not redeem any of its listed securities during the nine months ended September 30, 2021, nor did it purchase or sell any of its listed securities during this period[127]. - None of the Directors or chief executives had any interests or short positions in the shares of the Company as of 30 September 2021[119]. - The Company had no substantial shareholders other than those disclosed as of 30 September 2021[125]. Business Strategy and Market Conditions - The Group aims to improve inventory turnover days and mitigate inventory risk to shorten the cash conversion cycle[80]. - The Group is focusing on sustainable and stable lines of business in light of lessons learned from supply constraints due to the COVID-19 pandemic[81]. - The competitive landscape for video surveillance systems remains intense, with the Group competing directly and indirectly with large global vendors[76]. - The Group's major supplier introduced proprietary silicon technology, which has significantly impacted the pricing of refurbished and end-of-life products, contributing to revenue decline[74]. - The Group plans to diversify its business portfolio, particularly in the repairs and service support segment, which is expected to have significant growth potential[111]. Current Assets and Liabilities - As of 30 September 2021, the Group had net current assets of approximately HK$124.3 million, an increase from HK$122.2 million as of 31 December 2020[113]. - The gearing ratio increased to 47.7% as of 30 September 2021, up from 33.7% as of 31 December 2020, primarily due to an increase in accounts payable[115]. - Trade payables and inventory levels were comparatively higher than the same period last year due to delivery delays[118].

Financial Performance - The Group recorded a turnover of approximately HK$122.6 million for the six months ended 30 June 2021, representing a decrease of approximately HK$53.9 million compared to HK$176.5 million for the same period in 2020[4][5]. - The gross profit margin slightly decreased to approximately 8.2% for the six months ended 30 June 2021, down from approximately 9.7% for the same period in 2020[4][5]. - The profit attributable to the owners of the Company was approximately HK$0.4 million for the six months ended 30 June 2021, a decrease of approximately HK$4.9 million compared to HK$5.3 million for the same period in 2020[6]. - Revenue for the three months ended June 30, 2021, was HK$50,500,000, an increase from HK$45,008,000 in the same period of 2020, representing an increase of approximately 3.3%[12]. - Gross profit for the six months ended June 30, 2021, was HK$10,107,000, compared to HK$17,186,000 for the same period in 2020, indicating a decrease of about 41.0%[12]. - Profit before income tax for the three months ended June 30, 2021, was HK$811,000, a significant decrease from HK$5,946,000 in the same period of 2020, reflecting a decline of approximately 86.4%[12]. - Profit for the period attributable to owners of the Company for the three months ended June 30, 2021, was HK$359,000, down from HK$4,396,000 in the same period of 2020, a decrease of about 91.8%[14]. - Total comprehensive income for the period was HK$658,000 for the three months ended June 30, 2021, compared to HK$4,208,000 for the same period in 2020, representing a decline of approximately 84.3%[14]. - Earnings per share attributable to owners of the Company for the three months ended June 30, 2021, was HK$1.53, a decrease from HK$18.76 in the same period of 2020, reflecting a decline of about 91.9%[14]. - The company reported a profit for the period ended June 30, 2021, with total comprehensive income of HK$1,408,000[21]. Dividends and Shareholder Returns - The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2021, consistent with the previous year where no dividend was paid[6]. - For the six months ended June 30, 2021, the profit attributable to owners of the Company was HK$377,000, a decrease of 92.85% compared to HK$5,255,000 for the same period in 2020[109]. - Basic earnings per share for the six months ended June 30, 2021, was HK$1.61, down from HK$22.42 in the same period of 2020, representing a decline of 92.85%[109]. Revenue Breakdown - Revenue from sales and distribution of IT products accounted for approximately 99.0% of the Group's total revenue, with a decline primarily due to a decrease in quantity and price of third-party IT products due to technological advancements[157][158]. - Revenue from repairs and service support increased from approximately HK$0.1 million to approximately HK$1.3 million, attributed to expanded service support for IT products beyond video surveillance products[160][161]. - The Hong Kong market contributed approximately 62.0% of the Group's revenue for the six months ended 30 June 2021, up from approximately 23.8% in the same period of 2020[163][164]. - The Taiwan market contributed approximately 19.0% of the Group's revenue, significantly increasing from approximately 3.3% in the previous year[163][164]. - The United States market's contribution to revenue decreased to approximately 12.5% from approximately 39.4% in the same period of 2020[163][164]. Expenses and Cost Management - Selling and distribution costs for the six months ended June 30, 2021, were HK$2,689,000, down from HK$3,280,000 in the same period of 2020, a decrease of about 18.0%[12]. - Administrative expenses for the six months ended June 30, 2021, were HK$7,539,000, compared to HK$8,737,000 for the same period in 2020, reflecting a decrease of approximately 13.7%[12]. - The cost of sales decreased to approximately HK$112.5 million for the six months ended June 30, 2021, down from approximately HK$159.3 million in the corresponding period of 2020, reflecting a decrease in revenue[166]. - Gross profit decreased by approximately HK$7.1 million, resulting in a gross profit margin of approximately 8.2% for the six months ended June 30, 2021, due to a significant drop in prices of end-of-life products[166]. - Selling and distribution expenses decreased by approximately 18.0% to approximately HK$2.7 million during the six months ended June 30, 2021[166]. - Administrative expenses decreased by approximately 13.7% to approximately HK$7.5 million during the six months ended June 30, 2021, due to improved operating efficiencies[166]. Assets and Liabilities - Total assets as of June 30, 2021, were HK$162,885,000, a decrease of 16.1% from HK$194,268,000 as of December 31, 2020[16]. - Current liabilities decreased significantly from HK$48,641,000 to HK$15,932,000, representing a reduction of 67.2%[18]. - Total equity increased slightly from HK$145,251,000 to HK$146,659,000, reflecting a growth of 1.0%[16]. - Inventories decreased from HK$32,256,000 to HK$18,257,000, a decline of 43.4%[16]. - Non-current liabilities decreased from HK$49,017,000 to HK$16,226,000, a reduction of 66.9%[18]. - Cash and cash equivalents decreased from HK$170,818,000 to HK$87,667,000, a decline of 48.7%[16]. - The company's accumulated losses improved slightly from HK$57,451,000 to HK$57,074,000, a reduction of 0.7%[16]. - The total trade payables as of June 30, 2021, were HK$11,548,000, a significant decrease of 75% from HK$46,142,000 as of December 31, 2020[125]. - The company reported trade payables of HK$8,924,000 within 1 month as of June 30, 2021, compared to HK$42,229,000 as of December 31, 2020, indicating a substantial reduction[126]. Cash Flow and Financing - Net cash used in operating activities was HK$ (16,882) million, compared to HK$ 24,076 million generated in the previous period[25]. - Net cash generated from investing activities was HK$ 42 million, a significant improvement from HK$ (22) million used in the prior period[25]. - Net cash used in financing activities decreased to HK$ (518) million from HK$ (693) million[25]. - Cash and cash equivalents at the end of the period were HK$ 87,667 million, slightly up from HK$ 86,183 million in the previous period[25]. - The effect of exchange rate changes on cash and cash equivalents was a positive HK$ 330 million, compared to a negative impact of HK$ (199) million previously[25]. - The company reported a net decrease in cash and cash equivalents of HK$ (17,358) million, contrasting with an increase of HK$ 23,361 million in the prior period[25]. - The Group did not have any borrowings during the six months ended June 30, 2021, maintaining a debt-free status[196]. Market and Strategic Initiatives - The company is primarily engaged in the sales and distribution of IT products and the provision of repairs and other service support of IT products[28]. - The Group aims to improve inventory turnover days and mitigate inventory risk to shorten the cash conversion cycle[145]. - The Group's management expertise and strong ties with international brands through Foxconn Technology Group provide a competitive advantage in the market[145]. - The Group is actively approaching target customers and service centers to expand its electronic product service support business[152]. - The Group anticipates facing intense competition in the IT product distribution business and may adjust its business portfolio to increase its customer base[177]. - The Group believes there is significant growth potential in the repairs and service support segment, despite delays in expansion plans due to COVID-19[178]. - Management expects to strengthen the management team and may require additional fundraising to support working capital expenditures for business growth[179]. Compliance and Accounting - The financial statements were prepared in compliance with the GEM Listing Rules and Hong Kong Accounting Standard 34, ensuring adherence to regulatory requirements[9]. - The financial statements are prepared in accordance with Hong Kong Accounting Standards and the applicable disclosure requirements of the GEM Listing Rules[30]. - The adoption of the amended HKFRS 16 did not have a material impact on the Group's financial information for the six months ended June 30, 2021[30]. - Management's significant judgments and estimates in applying accounting policies remain consistent with those applied in the consolidated financial statements for the year ended December 31, 2020[30]. Investments and Acquisitions - The Group did not make any material acquisitions or disposals of subsidiaries and affiliated companies during the six months ended June 30, 2021[198]. - The Group fully utilized HK$17,800,000 for a strategic investment in the "circular economy" business segment, acquiring 21% of 4Square Return GmbH, which focuses on compliance consulting and recycling services[188].

Financial Performance - The Group recorded a turnover of approximately HK$72.1 million for the three months ended March 31, 2021, representing a decrease of approximately 1.1% compared to HK$72.9 million for the same period last year[6]. - Profit attributable to the owners of the Company was approximately HK$0.02 million for the three months ended March 31, 2021, a decrease of approximately 88.9% from HK$0.9 million in the same period last year[6]. - Gross profit for the period was approximately HK$4.6 million, down from HK$6.2 million in the same period last year, indicating a decline in gross margin from the distribution of third-party IT products[10]. - Earnings per share attributable to owners of the Company was HK$0.08 cents, a significant decrease from HK$3.67 cents in the same period last year[11]. - Operating loss for the period was HK$182,000, compared to a profit of HK$859,000 for the same period in 2020[38]. - The Group recorded a net profit of approximately HK$0.02 million for the three months ended March 31, 2021, down from approximately HK$0.9 million in the same period of 2020[83]. Revenue Breakdown - Revenue from sales and distribution of IT products was HK$71,963,000, a decrease of 1.2% from HK$72,805,000 in the same period of 2020[27]. - Revenue from repairs and service support increased significantly to HK$108,000 from HK$72,000 in the same period of 2020, representing a 50% increase[27]. - Revenue from external customers for the three months ended March 31, 2021, was HK$72,071,000, a slight decrease from HK$72,805,000 in the same period of 2020[35]. - The Hong Kong market contributed approximately 55.2% of the Group's revenue for the three months ended March 31, 2021, up from 20.1% in the same period of 2020[73]. Expenses and Costs - The Group's administrative expenses were approximately HK$3.7 million for the three months ended March 31, 2021, compared to HK$4.3 million in the same period last year, showing a reduction[10]. - Other income for the period was approximately HK$0.62 million, down from HK$0.77 million in the same period last year[10]. - The Group's finance costs were approximately HK$0.20 million for the three months ended March 31, 2021, compared to HK$0.25 million in the same period last year[10]. - The cost of sales increased slightly to approximately HK$67.5 million for the three months ended March 31, 2021, compared to HK$66.6 million for the same period in 2020[77]. Comprehensive Income - Total comprehensive income for the period was approximately HK$0.75 million, compared to HK$0.72 million for the same period last year, reflecting a slight increase[11]. - Total comprehensive income for the period ended March 31, 2021, was HK$750,000, compared to HK$721,000 for the same period in 2020, reflecting a growth of 4.0%[27]. - Exchange differences on translation of foreign operations resulted in other comprehensive income of approximately HK$0.73 million for the period, compared to a loss of HK$0.14 million in the same period last year[11]. Dividends and Shareholder Information - The Board does not recommend the payment of an interim dividend for the three months ended March 31, 2021, consistent with the previous year[6]. - The company did not recommend the payment of a dividend for the three months ended March 31, 2021, consistent with the previous year[59]. - Foxconn (Far East) Limited holds 50.58% of the issued share capital of the Company, indicating significant ownership by Hon Hai Precision Industry Co., Ltd.[96]. - The Company had not redeemed any shares during the three months ended March 31, 2021, nor had it purchased or sold any of its shares during this period[108]. Business Strategy and Future Plans - The Group plans to diversify its business portfolio and expand its repair and service support segment, which is expected to have significant growth potential[85]. - The Group is applying for various business licenses and ISO certifications for new repair centers, which were delayed due to COVID-19[85]. - Management will closely monitor the IT product distribution business and may adjust the Group's business portfolio to increase the customer base and generate better returns[86]. - The Group anticipates potential fundraising activities to support operational capital expenditures for business development[85]. Financial Position - As of March 31, 2021, the accumulated losses stood at HK$57,433,000, slightly increased from HK$57,451,000 at the beginning of the year[13]. - The Group's net current assets as of March 31, 2021, were approximately HK$122.7 million, an increase from HK$111.7 million on March 31, 2020[90]. - Cash and cash equivalents amounted to approximately HK$110.9 million as of March 31, 2021, compared to HK$83.2 million as of March 31, 2020[90]. - The gearing ratio increased to 40.1% as of March 31, 2021, up from 27.8% on March 31, 2020, primarily due to an increase in trade payables[90]. - The Group has no outstanding borrowings as of March 31, 2021[90]. Compliance and Governance - The unaudited condensed consolidated financial information is prepared in accordance with Hong Kong Financial Reporting Standards and GEM Listing Rules[19]. - The company has maintained the same accounting policies as those applied in the preparation of the Group's annual financial statements for the year ended December 31, 2020[23]. - The Audit Committee reviewed the unaudited condensed consolidated financial information for the three months ended March 31, 2021[112]. - The report was issued on May 12, 2021, by CircuTech International Holdings Limited[112]. - The executive Directors include Mr. Hong Sung-Tai, Ms. Chen Ching-Hsuan, Mr. Han Chun-Wei, and Mr. Tsai Biing-Hann[112]. Market Conditions - The demand for refurbished and obsolete products slightly decreased to a medium-high level during the reporting period[58]. - The management will closely monitor the impacts of COVID-19 on the financial position and operating results of the Group[87]. - There were no interests or short positions in shares reported by Directors or chief executives of the Company as of March 31, 2021[106].

ek 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 Code 股份代號 : 8051) ANNUAL REPORT 年 報 香港聯合交易所有限公司（「聯交所」）GEM之特色 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") 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主板上市的公司可能帶有較 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。 由於在GEM上市的公司普遍為中小型公司，在GEM 買賣的證券可能會較於主板買賣之證券承受較大之 市場波動風險，同時無法保證在GEM買賣之證券會有 高流通量之市場。 GEM has been positioned as a m ...

Financial Performance - The Group recorded a turnover of approximately HK$289.8 million for the nine months ended 30 September 2020, representing an increase of approximately HK$74.7 million or approximately 34.7% compared to the same period last year [4]. - The gross profit margin of the Group increased to approximately 8.8% for the nine months ended 30 September 2020, up from approximately 7.0% for the same period in 2019 [4]. - The Group recorded a net profit attributable to the owners of the Company of approximately HK$7.8 million for the nine months ended 30 September 2020, compared to a net profit of approximately HK$0.3 million for the same period in 2019 [4]. - The Group's operating profit for the nine months ended 30 September 2020 was approximately HK$9.25 million, compared to HK$0.39 million for the same period in 2019 [7]. - The total revenue for the three months ended 30 September 2020 was approximately HK$113.3 million, compared to HK$102.1 million for the same period in 2019 [7]. - The Group's gross profit for the nine months ended 30 September 2020 was approximately HK$25.4 million, an increase from HK$15.0 million for the same period in 2019 [7]. - Total comprehensive income for the period was HK$4,849,000, compared to a loss of HK$27,000 in the same period last year [9]. - Profit attributable to owners of the Company for the period was HK$2,506,000, a significant increase from HK$92,000 in the previous year [9]. - Earnings per share for the period was HK$10.69, compared to HK$0.39 in the same period last year [9]. - The profit before income tax for the nine months ended 30 September 2020 was approximately HK$10.1 million, compared to HK$0.6 million for the same period in 2019 [7]. Revenue Breakdown - Revenue from external customers for the nine months ended 30 September 2020 was HK$289,580,000 for IT sales and distribution, and HK$214,000 for repairs and service support, totaling HK$289,794,000 [29]. - Segment profit for IT sales and distribution was HK$14,310,000, while repairs and service support generated a profit of HK$39,000, leading to a total segment profit of HK$14,349,000 for the nine months ended 30 September 2020 [29]. - For the three months ended 30 September 2020, revenue from external customers was HK$113,240,000 for IT sales and distribution, and HK$67,000 for repairs and service support, totaling HK$113,307,000 [33]. - Revenue from external customers for the nine months ended 30 September 2019 was HK$102,028,000 for IT sales and distribution, and HK$97,000 for repairs and service support, totaling HK$102,125,000 [45]. - Segment profit for the nine months ended 30 September 2019 was HK$2,086,000 for IT sales and distribution and HK$7,000 for repairs and service support, leading to a total segment profit of HK$2,093,000 [47]. Expenses and Costs - The cost of sales increased to approximately HK$264.4 million for the nine months ended 30 September 2020, compared to approximately HK$200.1 million for the same period in 2019 [95]. - Sales and distribution expenses slightly increased to approximately HK$5.0 million for the nine months ended 30 September 2020, primarily due to staff costs and commissions [97]. - Administrative expenses rose by approximately 13.1% to about HK$13.1 million for the nine months ended 30 September 2020, mainly due to professional fees related to connected transactions [97]. - The company incurred unallocated corporate expenses of HK$7,217,000 for the nine months ended September 30, 2020 [39]. - The interest expenses on lease liabilities for the nine months ended 30 September 2020 amounted to HK$8,328,000 [29]. Dividends and Recommendations - The Board does not recommend the payment of a dividend for the nine months ended 30 September 2020, consistent with the previous year [4]. - No dividend was recommended for the nine months ended September 30, 2020, consistent with the previous year [80]. Taxation - Income tax expenses for the nine months ended September 30, 2020, totaled HK$540,000, compared to HK$315,000 for the same period in 2019 [76]. - The Group's overseas taxation for the nine months ended September 30, 2020, was HK$224,000, compared to HK$95,000 in the same period of 2019 [76]. Business Operations and Strategy - The Group's principal activities include sales and distribution of IT products and provision of repair services [15]. - The Group's core business includes sales and distribution of IT products, with a focus on expanding product range and customer base to drive revenue growth [86]. - The Group has developed an online trade-in platform and partnered with a renowned IT brand for trade-in programs for certain smart devices [86]. - The Group aims to improve inventory turnover days and mitigate inventory risk to shorten the cash conversion cycle [86]. - The Group continues to review and evaluate its business model to improve efficiency and achieve higher profit margins in the long run [88]. - The Group's sales and distribution of IT products segment remains the largest source of income, reflecting the competitive nature of the video surveillance systems market [88]. - The repairs and service support segment is expected to have significant growth potential, although expansion plans have been delayed due to COVID-19 [99]. - Management will closely monitor the impact of COVID-19 on the Group's financial position and operating results [99]. - The Group plans to strengthen its management team, expand its international footprint, and broaden its customer base, which may require additional fundraising for working capital expenditures [99]. Corporate Governance - The Audit Committee consists of three independent non-executive Directors, responsible for overseeing the financial reporting system and risk management [107]. - The Audit Committee reviewed the unaudited condensed consolidated financial information for the nine months ended 30 September 2020 and provided advice and comments [107]. Shareholding and Securities - As of September 30, 2020, Foxconn (Far East) Limited holds approximately 50.58% of the issued share capital of the Company [105]. - During the nine months ended 30 September 2020, the Company and its subsidiaries did not purchase, sell, or redeem any of the Company's listed securities [107].

Financial Performance - The Group recorded a turnover of approximately HK$176.5 million for the six months ended 30 June 2020, representing an increase of approximately HK$63.5 million compared to HK$113.0 million for the same period last year[4]. - Revenue for the six months ended June 30, 2020, was HK$176,487,000, representing an increase of 56.3% compared to HK$112,999,000 for the same period in 2019[11]. - Gross profit for the six months ended June 30, 2020, was HK$17,186,000, up 81.1% from HK$9,453,000 in the prior year[11]. - The Group recorded a profit attributable to the owners of the Company of approximately HK$5.3 million for the six months ended 30 June 2020, an increase of approximately HK$5.1 million compared to HK$0.2 million for the same period last year[4]. - Profit for the period attributable to owners of the company was HK$4,396,000 for the three months ended June 30, 2020, compared to HK$177,000 in the same period of 2019[13]. - Basic earnings per share for the six months ended June 30, 2020, was HK$22.42, compared to HK$0.71 for the same period in 2019, representing a significant increase[141]. - The Group's profit attributable to owners for the period was HK$5,255,000 for the six months ended June 30, 2020[141]. Dividends - The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2020, consistent with the previous year where no dividend was paid[4]. - No interim dividend was recommended for the six months ended June 30, 2020, consistent with the same period in 2019[136]. Revenue Breakdown - Revenue from the sale and distribution of IT products for the six months ended June 30, 2020, was HK$176,340,000, compared to HK$112,829,000 for the same period in 2019, representing a growth of 56.4%[60]. - Revenue from repairs and service support for the six months ended June 30, 2020, was HK$147,000,000, compared to HK$112,999,000 for the same period in 2019, indicating a growth of 30.5%[60]. - North America contributed approximately 39.4% of the Group's revenue for the six months ended June 30, 2020, up from 21.6% in 2019, while Europe contributed approximately 33.0%, up from 28.9% in 2019[186]. Expenses and Costs - Administrative expenses and research and development expenditures totaled HK$8,737,000 for the six months ended June 30, 2020, compared to HK$7,487,000 in 2019, indicating an increase in investment in R&D[11]. - The Group incurred a loss on disposal of office equipment amounting to HK$7,000 during the six months ended June 30, 2020[147]. - Interest expenses on lease liabilities decreased to HK$12,000 for the six months ended June 30, 2020, from HK$45,000 in the same period of 2019[135]. - Depreciation of right-of-use assets was HK$650,000 for the six months ended June 30, 2020, compared to HK$663,000 for the same period in 2019[135]. Assets and Liabilities - Total assets increased to HK$170,876,000 as of June 30, 2020, compared to HK$150,685,000 as of December 31, 2019, representing a growth of 13.5%[15]. - Cash and cash equivalents rose significantly to HK$86,183,000 from HK$63,021,000, marking an increase of 37.0%[26]. - Current liabilities rose to HK$32,109,000 from HK$17,320,000, indicating an increase of 85.0%[17]. - Trade payables increased significantly to HK$26,223,000 as of June 30, 2020, compared to HK$11,796,000 as of December 31, 2019, reflecting an increase of about 122%[157]. Financial Management - The Group's accumulated losses decreased to HK$61,193,000 from HK$66,448,000, showing an improvement of 7.6%[15]. - The Group's financial risk management policies have not changed since year end[33]. - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[33]. Strategic Developments - The Group has developed an online trade-in platform and partnered with a renowned IT brand for trade-in programs for certain smart devices[172]. - The Group plans to expand its service support business by sourcing spare parts for electronic products aimed at target customers, including renowned IT brands and their service centers[184]. - The Group continues to monitor market conditions closely and will make necessary adjustments to its strategies and operations[172]. - The Group aims to improve efficiency and achieve higher profit margins in the long run through ongoing reviews of its business model[172]. Employee and Management Information - As of June 30, 2020, the Group employed 24 full-time employees in Hong Kong and 10 in the PRC and overseas, with total staff costs amounting to approximately HK$6.472 million[192]. - Compensation for key management personnel for the six months ended June 30, 2020, was HK$714,000, down from HK$1,232,000 for the same period in 2019, indicating a decrease of about 42%[168].