[Cover and Disclaimer](index=1&type=section&id=Cover%20and%20Disclaimer) [GEM Characteristics and Directors' Responsibility Statement](index=1&type=section&id=GEM%20Characteristics%20and%20Directors'%20Responsibility%20Statement) This section outlines the GEM market's higher investment risks and the Board's full responsibility for the accuracy and completeness of the announcement - The GEM market provides a listing platform for small and medium-sized companies, entailing higher investment risks, significant market volatility, and no guarantee of high liquidity[1](index=1&type=chunk) - The Board confirms the announcement's accuracy and completeness, free from misleading or fraudulent content, with no omissions that could be misleading, and assumes full collective and individual responsibility[2](index=2&type=chunk) [Performance Overview](index=2&type=section&id=Performance%20Overview) [Consolidated Statement of Profit or Loss](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss) For the year ended March 31, 2025, revenue grew 5.4% to **HKD 1,375,299 thousand**, gross profit increased 40.8%, and loss for the year narrowed 83.8% to **HKD 7,904 thousand**, with basic loss per share at **1.7 HK cents**, despite an **HKD 18,857 thousand** impairment on investment properties Consolidated Statement of Profit or Loss Key Data (thousand HKD) | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1,375,299 | 1,305,420 | +5.4% | | Cost of sales | (1,085,898) | (1,099,853) | -1.3% | | Gross profit | 289,401 | 205,567 | +40.8% | | Operating loss | (1,268) | (55,216) | -97.7% | | Profit/(Loss) before income tax | 4,303 | (44,790) | Turnaround to profit | | Loss for the year | (7,904) | (48,735) | -83.8% | | Basic loss per share (HK cents) | (1.7) | (10.7) | -84.1% | - Investment property impairment of **HKD 18,857 thousand** was a significant factor contributing to the loss for the year, with no such impairment in the prior year[4](index=4&type=chunk) [Consolidated Statement of Comprehensive Income](index=3&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) For the year ended March 31, 2025, the Group's total comprehensive loss significantly narrowed by 82.7% to **HKD 10,807 thousand**, primarily due to a substantial reduction in loss for the year and a narrower foreign currency translation difference from overseas operations Consolidated Statement of Comprehensive Income Key Data (thousand HKD) | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Loss for the year | (7,904) | (48,735) | -83.8% | | Exchange differences on translation of foreign operations | (2,903) | (13,728) | -78.9% | | Total comprehensive loss for the year | (10,807) | (62,463) | -82.7% | [Consolidated Statement of Financial Position](index=4&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, the Group's total assets slightly increased to **HKD 1,957,197 thousand**, total liabilities rose to **HKD 594,266 thousand**, and total equity marginally decreased, with investment properties impaired and inventories and trade receivables in current assets increasing Consolidated Statement of Financial Position Key Data (thousand HKD) | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Total assets | 1,957,197 | 1,957,058 | +0.01% | | Total equity | 1,362,931 | 1,373,738 | -0.8% | | Total liabilities | 594,266 | 583,320 | +1.9% | | Investment properties | 207,702 | 231,609 | -10.3% | | Inventories | 258,089 | 215,810 | +19.6% | | Trade and other receivables (current) | 514,069 | 503,637 | +2.1% | | Trade and other payables (current) | 520,326 | 506,758 | +2.7% | [Consolidated Statement of Changes in Equity](index=6&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) For the year ended March 31, 2025, total equity attributable to equity holders of the Company decreased from **HKD 1,373,738 thousand** to **HKD 1,362,931 thousand**, primarily due to a loss for the year of **HKD 7,904 thousand** and foreign currency translation differences of **HKD 2,903 thousand** Consolidated Statement of Changes in Equity Key Data (thousand HKD) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Balance at beginning of year | 1,373,738 | 1,435,336 | | Loss for the year | (7,904) | (48,735) | | Exchange differences on translation of foreign operations | (2,903) | (13,728) | | Total comprehensive loss for the year | (10,807) | (62,463) | | Balance at end of year | 1,362,931 | 1,373,738 | [Notes to the Financial Statements](index=7&type=section&id=Notes%20to%20the%20Financial%20Statements) [General Information](index=7&type=section&id=General%20Information) North Asia Strategic Holdings Limited and its subsidiaries primarily engage in property and investment holding, listed on GEM in Hong Kong, with Sky Virtue Holdings Limited as its direct and ultimate controlling company - The Group's principal activities are property and investment holding[9](index=9&type=chunk) - The Company's ordinary shares are listed on GEM of The Stock Exchange of Hong Kong Limited[10](index=10&type=chunk) - The Company's direct and ultimate controlling company is Sky Virtue Holdings Limited[10](index=10&type=chunk) [Summary of Significant Accounting Policies](index=7&type=section&id=Summary%20of%20Significant%20Accounting%20Policies) This section outlines the principal accounting policies applied in preparing the financial statements, including the basis of preparation under HKFRSs and historical cost convention, and the impact of newly adopted revised HKFRSs on financial position or performance [Basis of Preparation](index=7&type=section&id=Basis%20of%20Preparation) - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the disclosure requirements of the Hong Kong Companies Ordinance[13](index=13&type=chunk) - The financial statements are prepared under the historical cost convention, except for financial assets at fair value through profit or loss[13](index=13&type=chunk) - The financial statements are presented in Hong Kong dollars, with all values rounded to the nearest thousand[14](index=14&type=chunk) [Changes in Accounting Policies and Disclosures](index=8&type=section&id=Changes%20in%20Accounting%20Policies%20and%20Disclosures) - The initial adoption of amendments to HKFRS 16 had no impact on financial position or performance due to the absence of relevant sale and leaseback transactions[16](index=16&type=chunk)[17](index=17&type=chunk) - The initial adoption of amendments to HKAS 1 had no impact on financial position or performance after reassessing liability classification[16](index=16&type=chunk)[17](index=17&type=chunk) - The initial adoption of amendments to HKAS 7 and HKFRS 7 had no impact on the financial statements due to the absence of supplier finance arrangements[16](index=16&type=chunk) [Revenue and Segment Information](index=9&type=section&id=Revenue%20and%20Segment%20Information) The Group's revenue grew 5.4% to **HKD 1,375,299 thousand** in FY2025, primarily from high-tech product distribution and services, with operating segments including leasing and e-payment solutions, mainly from China (including Hong Kong) and other Asian regions, and significant contribution from a single major customer [Revenue Analysis](index=9&type=section&id=Revenue%20Analysis) Revenue by Source (thousand HKD) | Revenue source | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Sales of goods | 1,232,224 | 1,210,242 | +1.8% | | Sales support services | 40,220 | 14,810 | +171.6% | | E-payment services income | 2,838 | 3,082 | -7.9% | | Other services income | 37,370 | 39,326 | -5.0% | | Income from finance lease arrangements | 9,216 | 8,744 | +5.4% | | Income from operating lease arrangements | 53,431 | 29,216 | +82.9% | | **Total revenue** | **1,375,299** | **1,305,420** | **+5.4%** | Total Revenue from Contracts with Customers by Geographical Region (thousand HKD) | Geographical market | 2025 | 2024 | | :--- | :--- | :--- | | China, including Hong Kong | 1,229,495 | 1,213,528 | | Asia — Other | 83,157 | 53,932 | | **Total revenue** | **1,312,652** | **1,267,460** | [Performance Obligations](index=10&type=section&id=Performance%20Obligations) - Performance obligations for sales of goods are satisfied upon transfer of control, with payments typically due 5 to 180 days after installation, often requiring upfront payment[22](index=22&type=chunk) - Performance obligations for e-payment services are satisfied upon completion of payment processing services by the platform, with payments made according to agreed terms[24](index=24&type=chunk) - Amounts of unsatisfied performance obligations primarily represent contract liabilities, expected to be recognized within one year[25](index=25&type=chunk) [Operating Segment Information](index=11&type=section&id=Operating%20Segment%20Information) - The Group is organized into three principal reportable operating segments: high-tech product distribution and services, leasing, and e-payment solutions[26](index=26&type=chunk) Operating Segment Results (thousand HKD) | Segment | 2025 Segment Results | 2024 Segment Results | | :--- | :--- | :--- | | High-tech product distribution and services business | 49,114 | (7,336) | | Leasing business | 21,967 | 8,095 | | E-payment solutions | (5,119) | (4,154) | | **Total** | **65,962** | **(3,395)** | Operating Segment Assets and Liabilities (thousand HKD) | Segment | 2025 Segment Assets | 2024 Segment Assets | 2025 Segment Liabilities | 2024 Segment Liabilities | | :--- | :--- | :--- | :--- | :--- | | High-tech product distribution and services business | 1,035,090 | 948,266 | 538,921 | 509,060 | | Leasing business | 278,053 | 299,083 | 38,523 | 60,016 | | E-payment solutions | 20,904 | 20,567 | 1,488 | 1,446 | | **Total segments** | **1,334,047** | **1,267,916** | **578,932** | **570,522** | [Geographical Information](index=15&type=section&id=Geographical%20Information) - The Group's operations are primarily conducted in Hong Kong, Mainland China, and other parts of Asia[31](index=31&type=chunk) Revenue Analysis by Geographical Location (thousand HKD) | Region | 2025 | 2024 | | :--- | :--- | :--- | | China, including Hong Kong | 1,292,142 | 1,251,488 | | Asia — Other | 83,157 | 53,932 | | **Total** | **1,375,299** | **1,305,420** | - No geographical information for non-current assets is presented as over **90%** of the Group's non-current assets are located in China (including Hong Kong)[33](index=33&type=chunk) [Information about Major Customers](index=16&type=section&id=Information%20about%20Major%20Customers) - In FY2025, sales revenue from one customer (Customer 2) in the high-tech product distribution and services segment amounted to **HKD 152,914 thousand**, representing more than **10%** of the Group's total revenue[34](index=34&type=chunk)[35](index=35&type=chunk) [Finance Income and Expenses](index=16&type=section&id=Finance%20Income%20and%20Expenses) In FY2025, the Group's finance income, primarily from bank deposit interest, decreased to **HKD 8,985 thousand**, while total finance expenses, mainly from lease liabilities interest, amounted to **HKD 3,414 thousand** Finance Income and Expenses Analysis (thousand HKD) | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Interest income from bank deposits | 8,985 | 13,530 | -33.6% | | Interest on bank borrowings | 775 | 119 | +551.3% | | Interest on lease liabilities | 2,639 | 2,985 | -11.6% | | **Total finance expenses** | **3,414** | **3,104** | **+10.0%** | [Profit/(Loss) Before Income Tax](index=17&type=section&id=Profit%2F%28Loss%29%20Before%20Income%20Tax) In FY2025, the Group achieved a profit before income tax of **HKD 4,303 thousand**, a significant improvement from a **HKD 44,790 thousand** loss in the prior year, influenced by cost of inventories sold, depreciation, investment property impairment, and fair value gains on financial assets Key Items Affecting Profit/(Loss) Before Income Tax (thousand HKD) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Cost of inventories sold | 1,054,828 | 1,074,227 | | Net foreign exchange loss | 7,435 | 4,694 | | Depreciation of property, plant and equipment | 41,873 | 40,135 | | Impairment of investment properties | 18,857 | — | | Fair value gains on financial assets at fair value through profit or loss | (4,265) | (4,269) | - An investment property impairment of **HKD 18,857 thousand** was recorded in FY2025, with no such impairment in the prior year[37](index=37&type=chunk) [Income Tax Expense](index=17&type=section&id=Income%20Tax%20Expense) In FY2025, the Group's income tax expense increased to **HKD 12,207 thousand**, primarily from Mainland China corporate income tax, with Hong Kong profits tax applying a two-tiered rate and Bermuda companies being tax-exempt - The Company is exempt from Bermuda taxation until 2035[38](index=38&type=chunk) - Hong Kong profits tax applies a two-tiered rate, with the first **HKD 2,000,000** of assessable profits taxed at **8.25%** and the remainder at **16.5%**[38](index=38&type=chunk) Income Tax Expense Analysis (thousand HKD) | Item | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Mainland China corporate income tax — Current year | 12,610 | 4,434 | +184.4% | | Deferred | (403) | (489) | -17.6% | | **Total income tax expense** | **12,207** | **3,945** | **+209.4%** | [Loss Per Share Attributable to Ordinary Equity Holders of the Company](index=18&type=section&id=Loss%20Per%20Share%20Attributable%20to%20Ordinary%20Equity%20Holders%20of%20the%20Company) In FY2025, basic and diluted loss per share attributable to ordinary equity holders of the Company significantly decreased to **1.7 HK cents** from **10.7 HK cents** in the prior year, primarily due to a substantial narrowing of the loss for the year Basis for Calculating Loss Per Share | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Loss attributable to equity holders of the Company for basic and diluted loss per share (thousand HKD) | (7,904) | (48,735) | | Weighted average number of ordinary shares in issue (shares) | 454,509,311 | 454,509,311 | | **Basic and diluted loss per share (HK cents)** | **(1.7)** | **(10.7)** | - Share options had an anti-dilutive effect on basic loss per share, thus no adjustment was made to the diluted loss per share amount[41](index=41&type=chunk) [Dividends](index=19&type=section&id=Dividends) The Board does not recommend the payment of any dividends for the year ended March 31, 2025, consistent with the prior year - The Directors do not recommend the payment of any dividends for the year ended March 31, 2025 (2024: nil)[43](index=43&type=chunk) [Trade and Other Receivables](index=19&type=section&id=Trade%20and%20Other%20Receivables) As of March 31, 2025, the Group's net trade and bills receivables increased to **HKD 349,004 thousand**, net finance lease receivables decreased to **HKD 67,501 thousand**, and total current portion amounted to **HKD 514,069 thousand** Trade and Other Receivables (thousand HKD) | Item | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Trade and bills receivables, net | 349,004 | 307,108 | +13.6% | | Finance lease receivables, net | 67,501 | 79,986 | -15.6% | | Prepayments, deposits and other receivables, net | 113,708 | 133,765 | -15.0% | | **Total trade and other receivables, current portion** | **514,069** | **503,637** | **+2.1%** | Ageing Analysis of Trade and Bills Receivables (thousand HKD) | Ageing | 2025 | 2024 | | :--- | :--- | :--- | | Three months or less | 223,336 | 162,599 | | Four to six months | 42,517 | 64,681 | | Seven to nine months | 20,997 | 51,375 | | Ten to twelve months | 45,626 | 12,103 | | Over twelve months | 16,528 | 16,350 | | **Total** | **349,004** | **307,108** | - Credit terms for high-tech product distribution and services customers range from **5 to 180 days**, generally requiring upfront payment[45](index=45&type=chunk) [Trade and Other Payables](index=20&type=section&id=Trade%20and%20Other%20Payables) As of March 31, 2025, the Group's total trade and other payables slightly increased to **HKD 520,326 thousand**, with trade and bills payables decreasing while accrued expenses, other payables, and contract liabilities significantly increased Trade and Other Payables (thousand HKD) | Item | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Trade and bills payables | 206,493 | 267,154 | -22.7% | | Accrued expenses, other payables and contract liabilities | 313,833 | 239,604 | +31.0% | | **Total** | **520,326** | **506,758** | **+2.7%** | Ageing Analysis of Trade and Bills Payables (thousand HKD) | Ageing | 2025 | 2024 | | :--- | :--- | :--- | | Three months or less | 192,782 | 229,369 | | Four to six months | 5,214 | 20,651 | | Seven to nine months | 6,136 | 10,376 | | Ten to twelve months | 646 | 789 | | Over twelve months | 1,715 | 5,969 | | **Total** | **206,493** | **267,154** | [Issued Share Capital](index=21&type=section&id=Issued%20Share%20Capital) As of March 31, 2025, the Company's issued ordinary share capital remained unchanged at **HKD 45,450 thousand**, comprising **454,509 thousand** shares Issued Share Capital (thousand HKD/thousand shares) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Issued ordinary share capital | 45,450 | 45,450 | | Number of ordinary shares in issue | 454,509 | 454,509 | [Reserves](index=22&type=section&id=Reserves) As of March 31, 2025, the Company's total reserves decreased to **HKD 1,317,481 thousand**, primarily due to the loss for the year and foreign currency translation differences from overseas operations Movement in Reserves (thousand HKD) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Balance at beginning of year | 1,328,288 | 1,389,886 | | Loss for the year | (7,904) | (48,735) | | Exchange differences on translation of foreign operations | (2,903) | (13,728) | | **Balance at end of year** | **1,317,481** | **1,328,288** | [Management Discussion and Analysis](index=23&type=section&id=Management%20Discussion%20and%20Analysis) [Economic Landscape and Business Performance](index=23&type=section&id=Economic%20Landscape%20and%20Business%20Performance) In FY2025, the Group benefited from consumer electronics recovery and China's EV market boom, but recorded a net consolidated loss of **HKD 7,904 thousand**, down 84% year-on-year, due to Hong Kong property market downturn and investment property impairment, while government subsidies boosted high-tech product distribution, leasing performed excellently with operating lease growth, and e-payment revenue declined due to changing consumer habits - The Group recorded a net consolidated loss of approximately **HKD 7,904 thousand**, an **84%** reduction from the prior year, primarily due to the downturn in the Hong Kong property market leading to investment property impairment[50](index=50&type=chunk) - The Chinese government's equipment renewal and consumer goods trade-in subsidy program, launched in January 2025, boosted the Group's high-tech product distribution and services business performance[50](index=50&type=chunk) - The leasing business performed excellently throughout the year, with the operating lease segment experiencing continuous growth as electronics manufacturers opted to lease SMT machines to manage order volume fluctuations[51](index=51&type=chunk) - The e-payment business 'Jarvix' faced revenue decline due to consumer preferences shifting towards cross-border shopping and dining, yet remains optimistic about future growth potential[51](index=51&type=chunk) [Outlook](index=24&type=section&id=Outlook) The Group is optimistic about Hong Kong's pivotal role in the Greater Bay Area, actively seeking investment opportunities, and will expand its Southeast Asia sales and engineering teams to address US-China decoupling trends, while the e-payment business will gradually launch 'Buy Now, Pay Later' and other new services - The Group is optimistic about Hong Kong's pivotal role in the Greater Bay Area initiative and will actively seek expanded investment opportunities[53](index=53&type=chunk) - To address the shift in client production operations due to US-China decoupling, the Group will expand its sales and engineering teams in its Southeast Asia offices[53](index=53&type=chunk) - The e-payment business will gradually roll out new 'Buy Now, Pay Later' services and other new products to selected merchants based on the Jarvix payment platform[53](index=53&type=chunk) [Socially Responsible Company](index=24&type=section&id=Socially%20Responsible%20Company) The Group is committed to stakeholder balance, responsible to shareholders, suppliers, customers, employees, society, and government, offering employee skill enhancement programs and receiving the 'Junzi Enterprise Award' from Hang Seng University of Hong Kong - The Group is committed to maintaining a balance among stakeholders, being responsible to shareholders, suppliers, customers, employees, society, and the government[54](index=54&type=chunk) - The Group has established sponsorship programs to encourage outstanding employees to enhance their skills and reviews remuneration policies to support and reward employees[54](index=54&type=chunk) - The Company received the 'Junzi Enterprise Award' from Hang Seng University of Hong Kong for the third time, encouraging its continued commitment to being a socially responsible company[54](index=54&type=chunk) [Financial and Business Performance](index=25&type=section&id=Financial%20and%20Business%20Performance) In FY2025, the Group's consolidated revenue grew 5.4% to **HKD 1,375,299 thousand**, driven by increased capital investment from EV clients and overseas expansion, with total operating expenses to revenue ratio decreasing to **20.9%** indicating improved cost efficiency, and net consolidated loss significantly reduced by 84% to **HKD 7,904 thousand**, or a consolidated profit of **HKD 10,953 thousand** excluding investment property impairment - In 2024, China's electric vehicle industry emerged as a global leader, and AI advancements fueled demand for AI-enabled markets, positively impacting the Group's business growth[56](index=56&type=chunk) - To address US-China decoupling and client production base relocation, the Group has expanded its operations and sales and service teams in Thailand and Vietnam[56](index=56&type=chunk) Financial Performance Summary (thousand HKD) | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Consolidated revenue | 1,375,299 | 1,305,420 | +5.4% | | Total operating expenses | 287,009 | 274,514 | +4.6% | | Total operating expenses to revenue ratio | 20.9% | 21.0% | -0.1pp | | Net consolidated loss | (7,904) | (48,735) | -83.8% | | Consolidated profit/(loss) excluding investment property impairment | 10,953 | (48,735) | Turnaround to profit | | Basic loss per share (HK cents) | 1.7 | 10.7 | -84.1% | [High-Tech Product Distribution and Services Segment](index=26&type=section&id=High-Tech%20Product%20Distribution%20and%20Services%20Segment) This segment's FY2025 revenue grew 7.7% to **HKD 1,236,648 thousand**, driven by recovering EV and smartphone market demand, with parts and software sales up 45.3% and sales support services up 44.5% due to surging demand from new manufacturing facilities in Southeast Asia, achieving a net profit of **HKD 42,099 thousand** - This segment's revenue was approximately **HKD 1,236,648 thousand**, a **7.7%** increase from the prior year, primarily due to recovering market demand in the electric vehicle and smartphone industries[59](index=59&type=chunk) High-Tech Product Distribution and Services Segment Revenue Breakdown (thousand HKD) | Revenue source | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Direct machine sales revenue | 1,060,222 | 1,026,289 | +3.3% | | Parts and software sales | 99,280 | 68,324 | +45.3% | | Sales support services and other services income | 77,146 | 53,379 | +44.5% | - The increase in parts sales and sales support services was primarily due to surging demand from clients establishing new manufacturing facilities in Southeast Asia to diversify geopolitical risks[60](index=60&type=chunk) - This segment recorded a net profit of approximately **HKD 42,099 thousand**, a turnaround from a net loss of approximately **HKD 3,260 thousand** in the prior year[61](index=61&type=chunk) [Leasing Segment](index=27&type=section&id=Leasing%20Segment) The leasing segment's FY2025 revenue decreased 12% to **HKD 135,813 thousand**, mainly due to a 37.1% drop in machine sales, but operating lease income surged 82.9% to **HKD 53,431 thousand** and finance lease income grew 5.4%, leading to a significant 209.4% increase in net profit to **HKD 15,475 thousand** through enhanced services and product expansion - The leasing segment's revenue was approximately **HKD 135,813 thousand**, a **12%** decrease from the prior year, primarily due to a significant **37.1%** reduction in machine sales revenue[62](index=62&type=chunk) Leasing Segment Revenue Breakdown (thousand HKD) | Revenue source | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Machine sales revenue | 73,166 | 116,386 | -37.1% | | Income from operating lease arrangements | 53,431 | 29,216 | +82.9% | | Finance lease income | 9,216 | 8,744 | +5.4% | - This segment significantly improved profitability by offering customized equipment modifications, expanding its product portfolio, and providing technical support, recording a net profit of **HKD 15,475 thousand**, a **209.4%** increase from the prior year[64](index=64&type=chunk) [E-Payment Solutions Segment](index=28&type=section&id=E-Payment%20Solutions%20Segment) The e-payment solutions segment's FY2025 revenue decreased 7.9% to **HKD 2,838 thousand** due to a weak Hong Kong local consumer market, resulting in a net loss of **HKD 4,690 thousand**, up 25.9% year-on-year, while management completed business restructuring to enhance online and offline payment capabilities and invested in human resources to expand its customer base - This segment's revenue was approximately **HKD 2,838 thousand**, a **7.9%** decrease from the prior year, primarily attributable to weak local consumption in Hong Kong[66](index=66&type=chunk) - This segment recorded a net loss of approximately **HKD 4,690 thousand**, a **25.9%** increase from the prior year, which included intangible asset amortization of approximately **HKD 2,598 thousand**[66](index=66&type=chunk) - Management has successfully restructured the business, enhancing online and offline payment solution capabilities and increasing investment in human resources to expand the customer base[66](index=66&type=chunk) [Market Outlook](index=29&type=section&id=Market%20Outlook) Global economic growth faces headwinds, with IMF lowering 2025-2026 forecasts, while China's economy shows strong performance with 5.4% GDP growth in Q1 2025, and robust growth is expected in global EV sales and AI-driven SMT and semiconductor manufacturing equipment demand, as the Group leverages Southeast Asia operations for client production shifts and enhances Greater Bay Area efficiency - The International Monetary Fund lowered its global economic growth forecasts for 2025 and 2026 to **2.8%** and **3%** respectively, with emerging and developing economies particularly affected by trade tariffs[67](index=67&type=chunk) - China's GDP grew **5.4%** year-on-year in Q1 2025, with a full-year target growth rate of **5%**, providing favorable conditions for the Group's business development[67](index=67&type=chunk) - Global electric vehicle sales are projected to grow **25%** to **20 million units** in 2025, with China's market share expected to reach approximately **80%** by 2030, presenting significant growth opportunities for the Group[69](index=69&type=chunk) - The rapid development of AI technology is driving unprecedented demand for AI-related products such as AI chips, laptops, smartphones, and servers, which is expected to significantly boost SMT and semiconductor manufacturing equipment growth[70](index=70&type=chunk) - The Group will continue to monitor key financial indicators such as working capital, gross profit margins, and operating costs to ensure sustainable development and long-term success[70](index=70&type=chunk) [Segment Outlook](index=30&type=section&id=Segment%20Outlook) This section details future development strategies and market opportunities for each business segment, with high-tech product distribution benefiting from smartphone manufacturers' overseas expansion and rapid growth in EV and AI industries, leasing focusing on enhancing equipment utilization and expanding products with strengthened risk control, and e-payment solutions leveraging Hong Kong's local consumption growth potential, digital payment infrastructure, and inbound tourism recovery [High-Tech Product Distribution and Services Segment Outlook](index=30&type=section&id=High-Tech%20Product%20Distribution%20and%20Services%20Segment%20Outlook) - This segment anticipates steady year-on-year growth in client orders, primarily driven by rapidly increasing demand from smartphone manufacturers expanding overseas and the fast-developing electric vehicle and AI industries[71](index=71&type=chunk) - The new generation SMT product, NXTR, is expected to replace existing machines, with its superior performance and advanced automation capabilities projected to generate significant replacement demand[72](index=72&type=chunk) - This segment is well-prepared to capitalize on the booming opportunities in the Southeast Asian market, especially as clients continue to expand their operations in these regions[72](index=72&type=chunk) [Leasing Segment Outlook](index=31&type=section&id=Leasing%20Segment%20Outlook) - China's electronics manufacturing industry is expected to further expand, particularly in integrated circuits, consumer electronics, and automotive electronic equipment, which will drive demand for SMT equipment[73](index=73&type=chunk) - The leasing segment will focus on enhancing equipment utilization and expanding its leasing product offerings, aiming to provide value-added services through in-house development and customized modifications[73](index=73&type=chunk) - This segment plans to broaden its business scope by focusing on high-tech products with strong growth potential and expanding short-term financing solutions (six to twelve months) to strengthen risk control[73](index=73&type=chunk) [E-Payment Solutions Segment Outlook](index=31&type=section&id=E-Payment%20Solutions%20Segment%20Outlook) - Hong Kong demonstrates significant consumer growth potential, leveraging its international financial center status, advanced digital infrastructure, and strategic ties with the Greater Bay Area[74](index=74&type=chunk) - The Hong Kong government's local consumption stimulus measures and the gradual recovery of inbound tourism are expected to drive increased demand for digital payment solutions[74](index=74&type=chunk)[75](index=75&type=chunk) - Jarvix has completed business restructuring, strengthening its online and offline solution capabilities, and is poised to continuously expand its market share in the rapidly growing e-payment market[76](index=76&type=chunk) [Other Information](index=32&type=section&id=Other%20Information) [Liquidity and Financial Resources](index=32&type=section&id=Liquidity%20and%20Financial%20Resources) As of March 31, 2025, the Group maintained a net cash position with total assets of approximately **HKD 1,957,197 thousand** and total liabilities of approximately **HKD 594,266 thousand**, primarily funding working capital through internal resources and bank facilities, with **HKD 178,842 thousand** utilized - The Group generally funds its working capital with internally generated resources and bank facilities provided by its principal bankers in Hong Kong[77](index=77&type=chunk) Liquidity and Financial Resources Summary (thousand HKD) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Secured bank borrowings | 12,559 | — | | Total bank facilities | 708,195 | 711,845 | | Bank facilities utilized | 178,842 | 145,090 | | Total assets | 1,957,197 | 1,957,058 | | Total liabilities | 594,266 | 583,320 | - The Group maintained a net cash position as at March 31, 2025 and 2024[77](index=77&type=chunk) [Contingent Liabilities](index=33&type=section&id=Contingent%20Liabilities) As of March 31, 2025, the Group's contingent liabilities included pledged deposits of **HKD 2,043 thousand** and bank guarantees of **HKD 23,798 thousand** for performance bonds obtained by a supplier and certain customers Contingent Liabilities (thousand HKD) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Pledged deposits | 2,043 | 2,100 | | Bank guarantees for performance bonds obtained by a supplier and customers | 23,798 | 4,549 | [Net Asset Value](index=33&type=section&id=Net%20Asset%20Value) As of March 31, 2025, the consolidated net asset value per ordinary share attributable to ordinary equity holders of the Company was approximately **HKD 3.0**, a slight decrease from the prior year Consolidated Net Asset Value Per Ordinary Share (HKD) | Metric | 2025 | 2024 | Change (HKD) | | :--- | :--- | :--- | :--- | | Consolidated net asset value per ordinary share | 3.0 | 3.02 | -0.02 | [Number of Employees and Remuneration Policy](index=33&type=section&id=Number%20of%20Employees%20and%20Remuneration%20Policy) As of March 31, 2025, the Group employed 328 staff with total staff costs of approximately **HKD 137,334 thousand**, with remuneration policies reviewed annually based on market levels, offering on-the-job training, training subsidies, pension schemes, and medical insurance Number of Employees and Total Staff Costs | Metric | 2025 | 2024 | Change (%) | | :--- | :--- | :--- | :--- | | Number of employees | 328 | 338 | -2.96% | | Total staff costs (thousand HKD) | 137,334 | 147,870 | -7.13% | - Salaries and year-end bonuses are determined by employee position and performance, with management annually reviewing remuneration policies and providing on-the-job training, training subsidies, pension schemes, and medical insurance[80](index=80&type=chunk) - The Company has established a share option scheme to provide incentives to directors, employees, and eligible participants who contribute to the Group[80](index=80&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=33&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the year ended March 31, 2025 - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the year ended March 31, 2025[81](index=81&type=chunk) [Corporate Governance Practices](index=33&type=section&id=Corporate%20Governance%20Practices) The Company is committed to maintaining high corporate governance standards, adhering to the GEM Listing Rules' Corporate Governance Code, and despite the combined roles of Chairman and CEO, the Board ensures adequate safeguards for decision execution and power balance - The Company is committed to maintaining a high level of corporate governance and adheres to the Corporate Governance Code set out in Appendix C1 to the GEM Listing Rules[82](index=82&type=chunk) - Despite the roles of Chairman and Chief Executive Officer being combined, the Board believes that a board and management team comprising experienced and highly qualified individuals sufficiently ensures a balance of power and segregation of duties[83](index=83&type=chunk) [Directors' Securities Transactions](index=34&type=section&id=Directors'%20Securities%20Transactions) The Company adopted a code of conduct for directors' securities transactions no less exacting than the GEM Listing Rules' required standard, and all directors confirmed compliance during FY2025 upon specific enquiry - The Company has adopted a code of conduct for directors' securities transactions no less exacting than the required standard set out in the GEM Listing Rules[84](index=84&type=chunk) - Following specific enquiry with all Directors, all Directors confirmed their compliance with the required standard and the Company's code of conduct regarding securities transactions for the year ended March 31, 2025[84](index=84&type=chunk) [Audit Committee](index=34&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive directors chaired by Mr. Lau Tak Chuen, ensures accounting and financial controls, monitors internal controls, risk management, and financial reporting, reviews financial statements and auditor independence, and has reviewed the FY2025 annual results - The Audit Committee comprises three independent non-executive Directors, chaired by Mr. Lau Tak Chuen, who possesses appropriate professional qualifications and experience in financial matters[85](index=85&type=chunk) - The Committee's primary responsibilities are to ensure the adequacy and effectiveness of the Group's accounting and financial controls, and to monitor the performance of internal control systems, risk management, and financial reporting procedures[85](index=85&type=chunk) - The Audit Committee has reviewed the Group's annual results for the year ended March 31, 2025[86](index=86&type=chunk) [Despatch of Annual Report and Auditor's Scope of Work](index=35&type=section&id=Despatch%20of%20Annual%20Report%20and%20Auditor's%20Scope%20of%20Work) The annual report for the year ended March 31, 2025, will be despatched to shareholders by the end of July 2025, and the Company's auditor, Ernst & Young, confirmed the consistency of consolidated financial statement figures in this announcement with the draft consolidated financial statements, but their work does not constitute an assurance engagement - The annual report for the year ended March 31, 2025, will be despatched to shareholders by the end of July 2025[87](index=87&type=chunk) - The Company's auditor, Ernst & Young, has agreed the figures in the consolidated financial statements set out in this announcement with the amounts set out in the Group's draft consolidated financial statements for the year[88](index=88&type=chunk) - The work performed by Ernst & Young in this respect did not constitute an assurance engagement and consequently no opinion or assurance conclusion is expressed thereon in this announcement[88](index=88&type=chunk)

Financial Performance - The unaudited consolidated results for the six months ended September 30, 2024, were presented, comparing with the corresponding period in 2023[11]. - The Group reported a significant increase in revenue, with specific figures not provided in the extracted content[11]. - Revenue for the six months ended September 30, 2024, increased to HK$750,422,000, up 45.0% from HK$517,740,000 in the same period of 2023[15]. - Gross profit for the period was HK$142,234,000, compared to HK$94,493,000 in 2023, reflecting a gross margin improvement[15]. - Profit for the period was HK$1,214,000, a significant recovery from a loss of HK$44,573,000 in the previous year[18]. - Earnings per share attributable to ordinary shareholders was HK$0.3, compared to a loss of HK$9.8 per share in 2023[15]. - The company reported a total comprehensive income of HK$4,439,000 for the period, recovering from a loss of HK$64,099,000 in 2023[18]. - The Group recorded an unaudited consolidated net profit of approximately HK$1,214,000, a significant improvement from the unaudited consolidated net loss of approximately HK$44,573,000 in the same period last year[193]. - The unaudited basic earnings per share in the Interim Period was approximately HK0.3 cent, compared to a loss per share of approximately HK9.8 cents in the corresponding period last year[193]. Revenue Breakdown - Total revenue for the six months ended 30th September 2024 was HK$750,422,000, representing a 45% increase from HK$517,740,000 in the same period of 2023[63]. - Revenue from contracts with customers amounted to HK$715,145,000, up from HK$504,279,000, indicating a 42% growth year-over-year[39]. - Revenue from sales of goods was HK$695,706,000, compared to HK$477,289,000 in 2023, reflecting a 46% increase[39]. - Income from operating lease arrangements rose significantly to HK$31,086,000 from HK$9,511,000, marking a 226% increase[39]. - The PRC, including Hong Kong, accounted for HK$682,858,000 of total revenue, up from HK$481,374,000, a growth of 42%[39]. - The electronic payment solution segment continues to expand, contributing to the overall revenue growth[41]. - The Hi-Tech Distribution and Services Division reported an unaudited revenue of approximately HK$678,433,000, representing a 52.2% increase from approximately HK$445,839,000 in the same period last year[200]. - The revenue growth was attributed to a market rebound and increased demand driven by AI features in smartphones, with global smartphone shipments showing year-on-year gains of 6.5% and 4% in Q2 and Q3 of 2024, respectively[200]. Assets and Liabilities - Total assets as of September 30, 2024, amounted to HK$2,029,490,000, an increase from HK$1,957,058,000 as of March 31, 2024[21]. - Current liabilities increased to HK$613,182,000 from HK$536,954,000, primarily due to higher trade payables[23]. - Cash and cash equivalents decreased to HK$254,367,000 from HK$345,494,000, indicating a reduction in liquidity[21]. - Non-current assets increased to HK$1,214,017,000 from HK$1,168,124,000, reflecting ongoing investments in property and equipment[21]. - Trade receivables increased to HK$423,169,000 as of September 30, 2024, up from HK$299,215,000 as of March 31, 2024, representing a growth of 41.6%[99]. - Total trade and other receivables, current portion, reached HK$644,050,000 as of September 30, 2024, compared to HK$503,637,000 as of March 31, 2024, indicating a 27.8% increase[99]. - The total liabilities as of September 30, 2024, amounted to HK$580,022,000, compared to HK$506,758,000 as of March 31, 2024, indicating an increase of 14.4%[112]. Operational Highlights - The Group's strategic direction includes exploring new market opportunities and potential expansions, although specific details are not provided in the extracted content[11]. - The company is engaged in various businesses, including high-tech distribution, leasing, electronic payment solutions, and property investment, indicating a diversified operational strategy[34]. - The company is organized into three major reportable operating segments: hi-tech distribution and services, leasing, and electronic payment solutions[41]. - Management monitors segment performance based on adjusted profit/loss before income tax, which is consistent with the Group's overall profit measurement[41]. - The Group's performance reflects a positive trend in the high-technology sector, indicating potential for future growth and expansion[200]. Risks and Compliance - There is a mention of potential risks associated with investing in small and mid-sized companies listed on GEM, highlighting market volatility[5]. - The Board emphasized the importance of accurate and complete information in compliance with GEM Listing Rules[9]. - The report indicates that the Group is focused on maintaining transparency and accountability in its financial disclosures[7]. - The report underscores the responsibility of the Board in ensuring the accuracy of the financial information presented[7]. Capital Expenditure and Investments - Additions to property, plant, and equipment amounted to HK$87,225,000 for the six months ended September 30, 2024, compared to HK$52,005,000 in 2023, showing increased capital expenditure[29]. - Capital expenditure for the period was HK$78,621,000, with significant investments in leasing operations and electronic payment solutions[46]. - The company reported a total capital expenditure of HK$788,913,000 as of September 30, 2024, compared to HK$770,593,000 as of April 1, 2023[95]. Management and Corporate Governance - Compensation for key management personnel for the six months ended 30th September 2024 was HK$8,217,000, compared to HK$7,165,000 for the same period in 2023[159]. - The Group's corporate finance team is responsible for the fair value measurement of financial instruments, reporting directly to the chief financial officer[163].

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 750,422,000, an increase of 23.5% compared to HKD 608,188,000 for the same period in 2023[3] - Gross profit for the same period was HKD 142,234,000, up 50.5% from HKD 94,493,000 year-on-year[3] - Operating profit turned positive at HKD 1,115,000 compared to an operating loss of HKD 58,753,000 in the previous year[3] - Net profit for the period was HKD 1,214,000, a significant recovery from a loss of HKD 44,573,000 in the prior year[4] - The company reported a basic and diluted earnings per share of HKD 0.3, recovering from a loss of HKD 9.8 per share in the previous year[3] - The company reported a net profit of HKD 1,214,000 for the six months ended September 30, 2024, compared to a net loss of HKD 44,573,000 in the same period of 2023[21] - The company recorded an unaudited net profit of approximately HKD 1,214,000 for the period, compared to an unaudited net loss of approximately HKD 44,573,000 in the same period last year[51] Assets and Liabilities - Total assets increased to HKD 2,029,490,000 from HKD 1,957,058,000, reflecting a growth of 3.7%[5] - Trade receivables and other receivables rose to HKD 644,050,000, up from HKD 503,637,000, indicating a 27.8% increase[5] - Cash and cash equivalents decreased to HKD 254,367,000 from HKD 345,494,000, a decline of 26.4%[5] - Total equity attributable to shareholders increased to HKD 1,378,177,000 from HKD 1,373,738,000, a slight increase of 0.3%[6] - The asset-liability ratio as of September 30, 2024, was 32.1%, up from 29.8% on March 31, 2024[65] Cash Flow - For the six months ended September 30, 2024, the company reported a net cash outflow from operating activities of HKD (39,809) thousand, compared to a net inflow of HKD 75,114 thousand in the same period of 2023[10] - The company experienced a net cash outflow from investing activities of HKD (54,002) thousand, compared to HKD (11,524) thousand in the same period last year, indicating increased investment activity[10] - The company’s cash flow from financing activities showed a net outflow of HKD (1,786) thousand, a decrease from HKD (12,169) thousand in the previous year, indicating improved financing management[10] Revenue Segmentation - Revenue from product sales reached HKD 695,706 thousand, up 46% from HKD 477,289 thousand in the previous year[16] - Revenue from financing lease arrangements increased to HKD 4,191 thousand, compared to HKD 3,950 thousand in the previous year, reflecting growth in leasing activities[16] - The company reported a significant increase in revenue from operating lease arrangements, which rose to HKD 31,086 thousand from HKD 9,511 thousand year-over-year[16] - Revenue from external customers for the six months ended September 30, 2024, was HKD 750,422,000, an increase from HKD 517,740,000 in the same period of 2023, representing a growth of approximately 45%[20] - Revenue from customers in China, including Hong Kong, was HKD 718,135,000 for the six months ended September 30, 2024, compared to HKD 494,835,000 in the same period of 2023, reflecting a growth of approximately 45%[23] Expenses - The total operating expenses for the period were approximately HKD 145,052,000, a decrease of 10.6% from approximately HKD 162,220,000 in the previous year[50] - The company reported a total depreciation and amortization expense of HKD 32,990,000 for the six months ended September 30, 2024[20] - Total employee costs for the six months ending September 30, 2024, were approximately HKD 71.845 million, down from HKD 79.432 million for the same period in 2023[68] Capital Expenditures - Capital expenditures for the six months ended September 30, 2024, totaled HKD 87,530,000, compared to HKD 81,589,000 in the same period of 2023, indicating an increase of approximately 7%[20] - Total capital expenditure for the six months ended September 30, 2024, amounted to HKD 788,913 thousand, compared to HKD 790,221 thousand for the same period in 2023[30] - The company’s total capital expenditure for property, plant, and equipment was HKD 117,501 thousand as of September 30, 2024, compared to HKD 93,047 thousand as of September 30, 2023[30] Shareholder Information - The company's issued share capital as of September 30, 2024, includes 454,509,000 ordinary shares with a total capital of HKD 45,450,000[37] - Sincere Ardent Limited and Sky Virtue Holdings Limited hold 11.39% and 56.55% of the shares respectively[73] - The 2023 share option plan was approved on September 7, 2023, and is valid for ten years[75] - As of September 30, 2024, no share options have been granted under the 2023 plan, with 45,450,931 options available for grant[75] - The company has issued a total of 12,000,000 share options under various plans, with specific exercise prices ranging from 0.325 HKD to 1.137 HKD[78] Corporate Governance - The company maintains a high level of corporate governance in compliance with GEM Listing Rules[86] - The audit committee has been established with a written scope of authority, consisting of four independent non-executive directors[88] - The committee's main responsibilities include ensuring adequate and effective accounting and financial controls, monitoring internal control systems, and overseeing the integrity of financial statements[88] Market Outlook - The overall global smartphone shipment is projected to grow by 5.8% in 2024, reaching 1.23 billion units[59] - Electric vehicle sales are expected to reach approximately 17 million units in 2024, accounting for over one-fifth of global car sales[60] - The company anticipates continued demand for AI-related user devices, including AI chips and AI laptops, driven by faster-than-expected AI upgrades[60] - The group reported a 12.8% year-on-year growth in the computer, communication equipment, and other electronic equipment manufacturing sectors during the first three quarters of 2024[61] Strategic Initiatives - The group is collaborating with local service providers to promote electronic payment solutions, aiming to attract more SMEs to adopt these services[64] - The leasing division faced intense competition and price pressure, leading to a focus on customized services and domestic alternatives to help clients reduce costs[63]

• 電子支付解決方案：提供支付解決方案，連結網上支付收單機構與商戶；及 本公告已於二零二四年六月二十七日經本公司董事會批准及授權刊發。 財務報表乃根據香港會計師公會（「香港會計師公會」）頒佈之香港財務報告準則（「香港財務報告準 則」）（包括所有香港財務報告準則、香港會計準則（「香港會計準則」）及詮釋）、香港公認會計原則 及香港公司條例之披露規定編製。除按公允值計入損益之金融資產（以公允值計量）外，財務報表 已根據歷史成本慣例編製。 香港財務報告準則第17號 保險合約 香港會計準則第1號及香港 財務報告準則實務報告 第2號修訂本 經修訂香港財務報告準則之性質及影響說明如下： (c) 香港會計準則第12號修訂本與一項單一交易產生的資產及負債有關的遞延稅項縮窄香港會計 準則第12號初始確認例外情況之範圍，由此其不再適用於產生相等應課稅及可扣減暫時差額 之交易，例如租賃及停用責任。因此，實體須就該等交易產生之暫時差額確認遞延稅項資產 （前提是有足夠之應課稅溢利）及遞延稅項負債。在首次應用該等修訂本前，本集團已應用初 始確認例外情況，並無就租賃相關交易之暫時差額確認遞延稅項資產及遞延稅項負債。於首 次應用該等修訂本後， ...

Financial Performance - For the six months ended September 30, 2023, the revenue was HK$517,740,000, a decrease of 34.5% compared to HK$791,116,000 for the same period in 2022[14] - The gross profit for the same period was HK$94,493,000, down 28.5% from HK$131,992,000 in 2022[14] - The operating loss increased to HK$58,753,000, compared to an operating loss of HK$40,041,000 in the previous year, reflecting a 46.5% increase in losses[14] - Loss before income tax was HK$54,401,000, compared to HK$40,522,000 in the prior year, indicating a 34.3% increase in losses[14] - The loss for the period was HK$44,573,000, which is a 13.9% increase from HK$39,242,000 in the same period last year[14] - Basic loss per share attributable to ordinary shareholders was HK(9.8) cents, compared to HK(9.2) cents in the previous year[14] - The company reported a total comprehensive loss of HK$64,099,000 for the period, compared to a loss of HK$39,242,000 in the previous year[23] - The company recorded an unaudited net loss of approximately HK$44,573,000, an increase from approximately HK$39,242,000 in the same period last year, with a basic loss per share of approximately HK$0.098, up from approximately HK$0.092[154] Revenue Breakdown - For the six months ended September 30, 2023, total revenue from contracts with customers was HK$504,279,000, a decrease of 34.2% compared to HK$766,534,000 in the same period of 2022[36] - Sales of goods contributed HK$477,289,000 to the total revenue, down from HK$726,276,000, representing a decline of 34.2%[36] - The PRC, including Hong Kong, accounted for HK$481,374,000 of total revenue, down from HK$751,817,000, highlighting a significant market contraction[36] - The Hi-Tech Distribution and Services Division's revenue was approximately HK$445,839,000, representing a decrease of 39.5% from approximately HK$736,875,000 in the corresponding period last year, primarily due to sluggish demand in the global mobile phone market[158] - The leasing division generated unaudited revenue of approximately HK$68,086,000, an increase of 25.5% compared to approximately HK$54,241,000 in the same period last year, driven by machine sales revenue of approximately HK$54,625,000, which increased by 84.2%[165] - The Electronic Payment Solution Division recorded unaudited revenue of approximately HK$3,815,000 and an unaudited net loss of approximately HK$71,000 for the Interim Period[179] Expenses and Costs - Selling and distribution expenses increased to HK$75,093,000, compared to HK$66,711,000 in the same period last year, reflecting a 12.5% increase[14] - Total operating expenses for the Interim Period were approximately HK$162,220,000, a decrease of 10.0% from HK$180,173,000 in the corresponding period last year[151] - The reduction in operating expenses was mainly due to a decrease in net exchange loss from HK$25,498,000 to HK$8,944,000[151] - The Group's total operating expenses (excluding exchange loss) to revenue ratio increased to 29.6% from 19.6% in the corresponding period last year[151] Assets and Liabilities - Total assets increased to HK$2,116,325,000 as of September 30, 2023, up from HK$2,080,621,000 as of March 31, 2023, representing a growth of 1.7%[19] - Current assets rose to HK$1,303,924,000, compared to HK$1,288,803,000 in the previous period, reflecting an increase of 1.2%[19] - Total equity attributable to shareholders decreased to HK$1,372,102,000 from HK$1,435,336,000, a decline of 4.4%[19] - Trade and other payables increased to HK$659,532,000 from HK$553,634,000, reflecting a rise of 19.1%[21] - The company reported a total of HK$790,221,000 in capital assets as of September 30, 2023, compared to HK$775,176,000 as of April 1, 2022, showing a slight increase[89] Cash Flow - Net cash flows from operating activities for the six months ended September 30, 2023, were HK$75,114,000, up from HK$48,232,000 in the same period last year, an increase of 55.8%[25] - Cash and cash equivalents improved to HK$463,292,000 from HK$425,154,000, marking an increase of 8.1%[19] - The company reported an increase in cash and cash equivalents of HK$51,421,000 for the six months, compared to a decrease of HK$17,696,000 in the same period last year[36] - Net cash flows used in financing activities decreased to HK$12,169,000 from HK$16,453,000, reflecting improved cash management[36] Market Conditions and Future Outlook - The World Bank projected global economic growth to slow from 3.1% in 2022 to 2.1% in 2023, with China's GDP growth expected to rebound to 5.6%[185] - China's GDP growth for Q3 2023 was up 4.9% year-on-year, while the first three quarters of 2023 saw a 5.2% increase year-on-year, indicating a loss of momentum[185] - IDC predicted a 1.1% decline in worldwide smartphone shipments to 1.19 billion units in 2023, with a 0.1% year-on-year decline in Q3 2023 shipments[186] - The smartphone shipments in China declined by 6.3% year-on-year in Q3 2023, worsening from a 2.1% decline in Q2 2023, attributed to rising youth unemployment and ongoing economic challenges[186] - The Group is diversifying and expanding operations in Thailand and Vietnam to mitigate geopolitical risks and serve customers better[180] - The Group is optimistic about the future of Hong Kong and its role in the Greater Bay Area initiative, aiming to enhance operational efficiency and profitability[190] Shareholder Information - The total issued share capital remained at HK$45,450,000 as of September 30, 2023, unchanged from March 31, 2023[109] - No interim dividend was recommended for the six months ended September 30, 2023, consistent with the previous year where no dividend was paid[86] - The weighted average number of ordinary shares in issue for the six months ended September 30, 2023, was 454,509,311, an increase from 425,125,311 in the same period of the previous year[84]

Financial Performance - Revenue for the three months ended June 30, 2023, was HK$219,841,000, a decrease of 47.8% compared to HK$420,274,000 for the same period in 2022[14]. - Gross profit for the period was HK$46,133,000, down 34.5% from HK$70,473,000 in the previous year[14]. - Operating loss increased to HK$34,072,000, compared to an operating loss of HK$25,795,000 in the same period last year, reflecting a 32.5% increase in losses[14]. - Loss for the period was HK$26,103,000, slightly higher than the loss of HK$24,591,000 recorded in the previous year, representing an increase of 6.1%[14]. - Basic and diluted loss per share remained stable at HK$5.7 cents, compared to HK$5.8 cents in the same period last year[14]. - Other comprehensive loss for the period was HK$24,148,000, compared to HK$16,597,000 in the previous year, indicating a 45.5% increase in comprehensive losses[16]. - Total comprehensive loss for the period amounted to HK$50,251,000, up from HK$41,188,000 in the previous year, reflecting a 22.1% increase[16]. - Revenue for the three months ended June 30, 2023, was HK$219,841,000, a decrease of 47.8% compared to HK$420,274,000 for the same period in 2022[29]. - Revenue from contracts with customers was HK$214,229,000, down 47.9% from HK$410,817,000 in the previous year[32]. - Sales of goods accounted for HK$199,103,000, a decline of 49.1% from HK$391,110,000 in the prior year[29]. - The basic loss attributable to shareholders for the three months ended June 30, 2023, was HK$26,103,000, compared to HK$24,591,000 in 2022[41]. - No interim dividend was recommended for the three months ended June 30, 2023, consistent with the previous year[43]. Business Operations - The company continues to engage in high-tech distribution, leasing, electronic payment solutions, and property investment as its core business activities[21]. - Revenue from the hi-tech distribution and services division decreased by 50.1% compared to the same period last year, primarily due to sluggish demand in the global mobile phone market[62]. - The leasing division experienced a revenue decline of 29.8% compared to the previous year, mainly due to a significant decrease in operating lease income[62]. - The Group's customers, mainly mobile phone manufacturers in China, have reduced their acquisition plans due to the ongoing market conditions[62]. - The leasing division generated unaudited revenue of approximately HK$28,419,000, a decrease of 29.8% compared to approximately HK$40,476,000 in the same period last year[79]. - The leasing division recorded a net loss of approximately HK$15,034,000, an increase of 73.8% from approximately HK$8,650,000 in the corresponding period last year[76]. - The electronic payment solution division, Jarvix, achieved unaudited revenue of approximately HK$1,897,000 and an unaudited net profit of approximately HK$32,000 during the quarter[93][96]. Market Conditions - Global smartphone shipments declined by 8% year-on-year and 5% quarter-on-quarter from April to June 2023, marking the eighth consecutive quarter of decline[62]. - A 15% year-on-year decline in global PC shipments was reported during the same period[62]. - The smartphone market is projected to decline by 1.1% in 2023, with worldwide shipments expected to decrease to 1.19 billion units[102][106]. - The management noted a significant reduction in orders received, particularly from mobile phone manufacturers in China, which may lead to a decline in recognized revenue in upcoming quarters[103]. - The Chinese government announced 31 preferential policies to support the revitalization of the private economy, potentially aiding recovery in the leasing market from the second half of 2023[100][105]. Financial Management - The company is exempt from taxation in Bermuda until 2035, with Hong Kong profits tax calculated at a rate of 16.5%[36]. - Subsidiaries in Mainland China are subject to a corporate income tax rate of 25%[37]. - The weighted average number of ordinary shares in issue during the period was 454,509,311, up from 425,125,311 in the previous year[41]. - The company recorded a deferred tax credit of HK$6,028,000 for the period, compared to HK$3,119,000 in the previous year[39]. - The total operating expenses for the quarter amounted to approximately HK$82,188,000, a decrease of 15.5% from approximately HK$97,298,000 in the corresponding period last year[63]. - The total operating expenses to revenue ratio increased to 34.9% from approximately 18.9% in the corresponding period last year[63]. Shareholder Information - As of June 30, 2023, Zhang Yifan holds approximately 24.54% of the shares and underlying shares of the Company[121]. - The total number of ordinary shares in issue as of June 30, 2023, is 454,509,311[121]. - Lu Ying holds 39.54% of the shares, while Sincere Ardent Limited, controlled by her, holds 39.38%[127]. - Sun Ciying owns 8.77% of the shares, and Sky Virtue Holdings Limited, controlled by Zhang Yifan, holds 22.28%[127]. - The share option scheme adopted on September 4, 2014, allows the Board to grant options to employees and other contributors for ten years[129]. - As of June 30, 2023, there were 13,888,685 outstanding share options under the 2014 Scheme[134]. - A total of 9,860,000 share options were granted to four directors and employees on July 6, 2023, with an exercise price of HK$0.339 per share[138]. Corporate Governance - The report was approved by the board of directors on August 9, 2023, and is presented in Hong Kong dollars (HK$)[19]. - The company operates under the GEM Listing Rules, which require compliance with specific disclosure requirements[22]. - The audit committee, comprising three independent non-executive directors, oversees the adequacy and effectiveness of the Group's accounting and financial controls[148]. - The company maintains high standards of corporate governance and complies with the Corporate Governance Code, with no known deviations during the reporting period[142]. - The roles of chairman and chief executive are separated, ensuring a balance of authority within the board[143].

Financial Performance - For the financial year ended March 31, 2023, the Group recorded a revenue of HK$2,266,642,000, a decrease of 7.3% compared to HK$2,445,150,000 in the previous year[20]. - The profit before tax for the year was HK$4,551,000, down 95.8% from HK$108,662,000 in the prior year[20]. - The consolidated net profit attributable to shareholders was approximately HK$1,088,000, representing a significant decrease of 98.6% from HK$79,793,000 last year[23]. - Total assets as of March 31, 2023, amounted to HK$2,079,936,000, a decline of 34.1% from HK$3,161,987,000 in 2022[22]. - Total liabilities decreased to HK$644,600,000 from HK$1,714,545,000, reflecting a reduction of 62.4%[22]. - Equity attributable to shareholders was HK$1,435,336,000, slightly down from HK$1,447,442,000 in the previous year[22]. - The Group recorded a consolidated net profit of approximately HKD 1,088,000 for the fiscal year ending March 31, 2023, representing a decrease of 98.6% compared to the previous year[27]. - The gross profit ratio decreased from 16.2% last year to 14.7% this year[50]. - Total operating costs increased by approximately HK$45,834,000 or 15.4%, from approximately HK$298,443,000 to HK$344,277,000[51]. - The consolidated net asset value per ordinary share decreased to approximately HK$3.16, down HK$0.24 from approximately HK$3.40 as of March 31, 2022[53]. Business Challenges and Strategies - The Group faced tremendous challenges during the year, impacting overall financial performance[23]. - The Group experienced a decline in operating lease orders for SMT machines due to weak demand in the mobile phone market and severe price competition[26]. - The leasing division faced a challenging operating environment due to the prolonged impact of the COVID-19 pandemic and decreased consumer purchasing power[66]. - The Group will focus on operating cost control in light of the worsening business environment[52]. - The Group aims to enhance operational efficiency and explore potential mergers and acquisitions as part of its growth strategy[23]. - The Group plans to acquire a small online payment business operating under the "Jarvix" brand in Hong Kong to diversify its business[34]. - The Group aims to leverage its listing status to raise capital for future development and investment needs[33]. - The Group will continue to enhance operational efficiency across various business divisions to improve profitability and increase shareholder value[88]. Market Trends and Opportunities - Increased orders from leading electric vehicle manufacturers in China partially compensated for the loss of orders from mobile phone manufacturing customers[25]. - The Company expects large-scale replacement of petroleum-fueled vehicles with electric vehicles to achieve net-zero emissions by 2030, creating new opportunities in the electric vehicle manufacturing industry[86]. - Smartphone shipments in Q1 2023 fell by 13% to 269.8 million units compared to 311.2 million units in Q1 2022, indicating a weak demand in the market[92]. - The outlook for the smartphone industry remains highly uncertain, with expectations of a 1.1% decline in the worldwide smartphone market in 2023[92]. - The emergence of the metaverse is expected to drive investments in infrastructure for virtual reality applications, contributing to growth in the semiconductor and SMT industries[87]. Governance and Management - The company has a strong governance structure with independent non-executive directors overseeing audit, remuneration, and nomination committees[124][126]. - The management team includes members with advanced degrees in accounting, finance, and business administration from reputable institutions[121][124][126]. - The company is focused on maintaining a robust financial strategy, leveraging the expertise of its directors in financial planning and corporate governance[124][126]. - The Board is committed to maintaining high standards of corporate governance and will continue to review and update its practices[137]. - The Company aims to develop a corporate culture aligned with its purpose, vision, strategy, and values to achieve long-term sustainable growth[137]. - The Company has mechanisms in place to ensure independent views and input are available to the Board, reviewed annually[163]. - The Board consists of experienced and high-caliber individuals, ensuring effective governance and oversight[179]. Committees and Board Activities - The Board has established three committees: Nomination, Remuneration, and Audit, in accordance with GEM Listing Rules[184]. - The Remuneration Committee held six meetings during the year with an attendance rate of 93%[198]. - The Nomination Committee conducted two meetings during the year with a perfect attendance rate of 100%[191]. - The Nomination Committee is responsible for evaluating board size, structure, and composition, and managing board succession[186]. - The terms of reference for both the Nomination and Remuneration Committees are aligned with the provisions set out in the Code[193]. - The attendance of each Nomination Committee member during the year was 2 out of 2 meetings[192].

Financial Performance - For the nine months ended December 31, 2022, revenue was HK$1,083,676,000, a decrease of 34.3% compared to HK$1,647,507,000 for the same period in 2021[13]. - Gross profit for the nine months was HK$191,724,000, down 29.6% from HK$272,340,000 in the previous year[13]. - The operating loss for the nine months was HK$64,240,000, compared to an operating profit of HK$74,961,000 in the same period of 2021[13]. - The loss for the period was HK$56,425,000, compared to a profit of HK$56,479,000 in the previous year[15]. - Basic loss per share for the nine months was HK$13.3 cents, compared to earnings of HK$16.4 cents per share in the same period of 2021[13]. - Total comprehensive loss for the nine months was HK$84,155,000, compared to a comprehensive income of HK$72,045,000 in the previous year[15]. - For the three months ended December 31, 2022, revenue was HK$292,560,000, a decrease of 54.4% from HK$639,085,000 in the same period of 2021[13]. - The operating loss for the three months was HK$24,199,000, compared to an operating profit of HK$24,586,000 in the previous year[13]. - The loss for the three months was HK$17,183,000, compared to a profit of HK$16,366,000 in the same period of 2021[15]. Revenue Breakdown - Revenue from sales of goods for the nine months ended December 31, 2022, was HK$989,110,000, down 33.3% from HK$1,481,204,000 in 2021[29]. - Revenue from sales support services decreased to HK$25,237,000 for the nine months ended December 31, 2022, from HK$99,204,000 in 2021, representing a decline of 74.5%[29]. - Total revenue from contracts with customers for the three months ended December 31, 2022, was HK$278,229,000, down 55.5% from HK$624,719,000 in 2021[29]. - Income from finance lease arrangements for the three months ended December 31, 2022, was HK$5,367,000, a decrease from HK$7,655,000 in 2021[29]. Operating Expenses - Total operating expenses for the nine-month period amounted to approximately HK$265,443,000, an increase of 21.1% from approximately HK$219,206,000 in the corresponding period last year[69]. - The increase in operating expenses was attributed to a net exchange loss of approximately HK$29,404,000, compared to a net exchange gain of approximately HK$33,296,000 recorded in the previous year[69]. - The operating expenses to revenue ratio increased to 21.8% from 13.3% in the corresponding period last year[72]. Corporate Governance - The company maintains high standards of corporate governance and complies with the Corporate Governance Code[142]. - The audit committee, comprising three independent non-executive Directors, oversees the adequacy and effectiveness of the Group's financial controls[149]. - The audit committee's main responsibilities include ensuring adequate and effective accounting and financial controls, monitoring internal control systems, risk management, and the integrity of financial reporting[152]. Share Options and Equity - The weighted average number of ordinary shares in issue for the nine months ended 31st December 2022 was 425,125,311, an increase from 343,942,374 in 2021[48]. - The company did not recommend the payment of an interim dividend for the nine months ended 31st December 2022, consistent with the previous year[49]. - As of December 31, 2022, the total number of share options outstanding was 51,580,388, with 18,928,388 options remaining unexercised[137]. - The share option scheme aims to reward participants and enhance the value of the Company for shareholders[129]. Market Conditions and Future Outlook - The Group faced challenges including semiconductor chip shortages, sluggish demand in the global mobile phone market, and COVID-19 related lockdowns in major cities in China, which disrupted component production and logistics[68]. - The World Bank downgraded its 2023 global economic growth outlook to 1.7% from a previous prediction of 3%, indicating challenging economic conditions[100][102]. - The Group is optimistic about the growth prospects in the electric vehicle manufacturing industry, which may create new opportunities for its business[101][103]. - AMT anticipates continued weakness in new orders for the remainder of the financial year due to a negative market outlook[110].

Financial Performance - Revenue for the six months ended September 30, 2022, was HK$791,116,000, a decrease of 21.5% compared to HK$1,008,422,000 for the same period in 2021[14]. - Gross profit for the period was HK$131,992,000, down 30.5% from HK$189,784,000 in the previous year[14]. - The operating loss for the six months was HK$40,041,000, compared to an operating profit of HK$50,375,000 in the same period last year[14]. - The net loss for the period was HK$39,242,000, compared to a profit of HK$40,113,000 in the previous year[14]. - Basic loss per share was HK(9.2) cents, compared to earnings of HK12.3 cents per share in the same period last year[14]. - Total comprehensive loss for the period was HK$73,991,000, compared to a comprehensive income of HK$46,138,000 in the previous year[16]. - The company reported a gross profit margin of 16.7% for the six months ended September 30, 2022, down from 18.8% in the previous year[14]. - The loss before income tax for the period was HK$40,522, with a net loss of HK$39,242 after accounting for an income tax credit of HK$1,280[54]. - The Group recorded an unaudited consolidated net loss of approximately HK$39,242,000, compared to an unaudited consolidated net profit of HK$40,113,000 in the corresponding period last year[200]. Revenue Breakdown - Total revenue from contracts with customers for the six months ended September 30, 2022, was HK$766,534, a decrease of 22.1% from HK$984,917 in 2021[45]. - Revenue from hi-tech distribution and services segment was HK$736,875, while leasing operation segment contributed HK$54,241, totaling HK$791,116 for the period[54]. - Revenue from the PRC, including Hong Kong, was HK$751,817, down from HK$934,445 in the previous year, reflecting a decline of 19.5%[45]. - The hi-tech distribution and services division experienced a revenue decrease of 20.4% due to semiconductor chip shortages and disruptions in production and logistics caused by lockdowns in major Chinese cities[190]. - The leasing division's revenue decreased by 34.2%, primarily due to reduced scale and orders for electronics consumables products amid economic downturn pressures[190]. Expenses and Liabilities - Selling and distribution expenses decreased to HK$66,711,000 from HK$70,443,000, reflecting a reduction of 5.3%[14]. - General and administrative expenses increased to HK$113,462,000 from HK$87,379,000, representing a rise of 29.9%[14]. - Total operating expenses for the Interim Period amounted to approximately HK$180,173,000, an increase of 14.2% from approximately HK$157,822,000 in the corresponding period last year[191]. - The Group recorded a net exchange loss of approximately HK$25,498,000 during the Interim Period, compared to a net exchange gain of HK$11,838,000 in the corresponding period last year[191]. - The total operating expenses (excluding exchange loss) to revenue ratio increased to 20% from 17% in the corresponding period last year[192]. Assets and Equity - Total assets as of September 30, 2022, amounted to HK$2,863,986, a decrease from HK$3,161,987 as of March 31, 2022, representing a decline of approximately 9.4%[19]. - Total equity attributable to shareholders as of September 30, 2022, was HK$1,373,451, down from HK$1,447,442, indicating a decrease of approximately 5.1%[19]. - Cash and cash equivalents decreased to HK$447,925 from HK$485,495, a decline of about 7.7%[19]. - Trade and other receivables dropped significantly from HK$807,078 to HK$519,859, a decrease of approximately 35.6%[19]. - The company reported a comprehensive loss for the period of HK$73,991, compared to a profit of HK$40,113 in the previous period[27]. Cash Flow and Investments - Net cash flows from operating activities improved to HK$48,232,000 compared to a net outflow of HK$131,349,000 in the previous year[30]. - Net cash flows used in investing activities decreased to HK$49,475,000 from HK$191,162,000 year-on-year[30]. - The principal portion of lease payments decreased to HK$8,026,000 from HK$12,186,000 year-on-year[32]. - Capital expenditure for the period amounted to HK$83,869, with HK$31,290 attributed to hi-tech distribution and services and HK$52,579 to leasing operations[54]. Shareholder Information - The company does not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year where no dividend was paid[122]. - The number of issued ordinary shares increased from 425,125,000 to 425,125,000, with a total share capital of HK$42,512,000 as of 30th September 2022[149]. - As of September 30, 2022, the company had 7,404,388 share options outstanding with an exercise price of HK$1.14, valid from August 16, 2017, to August 15, 2027[163][164]. - The company has a share option scheme in place to reward participants who contribute to the Group, valid for ten years from the adoption date[148]. Operational Insights - The company is engaged in hi-tech distribution, leasing, and property investment, focusing on surface mount technology and finance lease arrangements[34]. - The strict pandemic control policies in major Chinese cities contributed to disruptions in component production and logistics, affecting the Group's customers[199]. - Customers have been delaying or scaling down their manufacturing facilities acquisition plans, leading to a significant drop in orders to the Group during the first half of 2022[199]. - AMT has a team of over 250 engineers and customer care staff located in more than 25 cities across China, Southeast Asia, Vietnam, and India[199]. - The Group's customers include most major telecom and electronic equipment manufacturers globally, which positions AMT favorably as demand increases[199].

Financial Performance - Revenue for the three months ended June 30, 2022, was HK$420,274,000, a decrease of 34.3% compared to HK$639,396,000 for the same period in 2021[16] - Gross profit for the same period was HK$70,473,000, down 32.0% from HK$103,672,000 in 2021[16] - The operating loss for the period was HK$25,795,000, compared to an operating profit of HK$26,959,000 in the previous year[16] - The loss for the period was HK$24,591,000, compared to a profit of HK$15,980,000 in the same period last year[16] - Basic and diluted loss per share attributable to ordinary shareholders was HK(5.8) cents, compared to earnings of HK5.2 cents in 2021[16] - Total comprehensive loss for the period amounted to HK$41,188,000, compared to a comprehensive income of HK$21,259,000 in 2021[19] - The Group reported a net loss of approximately HK$24,591,000, compared to a net profit of approximately HK$15,980,000 in the corresponding period last year[86] - The basic loss per share was approximately HK5.8 cents, compared to basic earnings per share of approximately HK5.2 cents in the corresponding period last year[86] Revenue Breakdown - Total revenue for the three months ended June 30, 2022, was HK$410,817,000, a decrease of 34.8% compared to HK$629,701,000 for the same period in 2021[29] - Revenue from contracts with customers recognized at a point in time was HK$391,110,000, down from HK$584,675,000 in the previous year, reflecting a decline of 33.1%[29] - Revenue from the PRC, including Hong Kong, was HK$401,476,000, down from HK$608,359,000, a decline of 34.0%[29] - Revenue from Asia—other markets was HK$9,341,000, a decrease of 56.3% from HK$21,342,000 in the previous year[29] - The hi-tech distribution and services division's revenue decreased by 37.5% to approximately HK$379,798,000, down from approximately HK$607,861,000 due to semiconductor chip shortages and sluggish demand in the global mobile phone market[91] - Direct machine sales in the hi-tech division fell by 38.0% to approximately HK$339,717,000 from approximately HK$547,934,000[95] - The leasing division generated revenue of approximately HK$40,476,000, representing an increase of 28.4% from approximately HK$31,535,000 in the corresponding period last year[98] Expenses and Costs - Selling and distribution expenses increased to HK$36,985,000 from HK$34,884,000 in the previous year[16] - General and administrative expenses were HK$60,313,000, up from HK$46,060,000 in the same period last year[16] - The company reported finance costs of HK$1,282,000, compared to HK$323,000 in the previous year[16] - Total operating expenses amounted to approximately HK$97,298,000, an increase of 20.2% from approximately HK$80,944,000 in the corresponding period last year[81] - The ratio of total operating expenses (excluding exchange loss) to revenue increased to 18.4% from 12.6% in the corresponding period last year[84] - The significant exchange loss of approximately HK$20,000,000 contributed to the net loss, marking the first loss reported by the Group in the past decade[96] Taxation - The Company is exempt from taxation in Bermuda until 2035, while Hong Kong profits tax is calculated at a rate of 16.5%[36] - Current taxation for the period included HK$8,770,000 in Hong Kong profits tax and HK$1,772,000 in Mainland China corporate income tax[39] - The Mainland China corporate income tax rate remains at 25% for the current year, consistent with the previous year[37] - The deferred tax expense for the period was HK$3,119,000, compared to HK$381,000 in the prior year[39] - The company recorded an over-provision in prior year taxation of HK$497,000 for the current period[39] Share Capital and Options - The weighted average number of ordinary shares in issue for the basic earnings per share calculation increased to 425,125,311 in 2022 from 304,698,014 in 2021[51] - The company did not recommend the payment of an interim dividend for the three months ended June 30, 2022, consistent with the previous year[53] - The total equity as of June 30, 2022, was HK$1,406,254,000, a decrease from HK$1,447,442,000 at the beginning of the period[54] - The company has a share option scheme approved on September 4, 2014, valid for ten years[143] - As of June 30, 2022, the total number of share options outstanding was 18,928,388[149] Future Outlook and Strategy - The Group plans to enhance its service offerings by recruiting qualified service engineers and implementing company-wide staff training[107] - The Group expects increased demand from customers in the electronic vehicle sector, while facing pressure from reduced smartphone production orders[110] - The Group is optimistic about its future role in the Greater Bay Area initiative and aims to improve operational efficiency across its business divisions[111] - The management expresses confidence in finding better positioning and opportunities despite the turbulent international situation[121] - The company aims to focus resources on areas valued most by customers, particularly in the high-tech product distribution and service sector[117] Corporate Governance - The company aims to maintain high standards of corporate governance in line with the Corporate Governance Code[159] - The company has established an audit committee comprising three independent non-executive directors[161] - The audit committee reviewed the unaudited condensed consolidated financial information for the three months ended June 30, 2022[165]