Financial Performance - The group's unaudited revenue for the six months ended June 30, 2021, was HKD 341.4 million, an increase of approximately HKD 77.1 million or 29.2% compared to the same period in 2020[17]. - The unaudited profit for the six months ended June 30, 2021, was HKD 10.6 million, reversing from a loss of HKD 4.2 million in the same period of 2020[17]. - The basic and diluted earnings per share for the six months ended June 30, 2021, was HKD 2.71, compared to a loss of HKD 0.82 per share for the same period in 2020[17]. - The group reported a gross profit of HKD 41.3 million for the six months ended June 30, 2021, compared to HKD 31.5 million for the same period in 2020[20]. - The net profit attributable to owners of the company for the six months ended June 30, 2021, was HKD 10.8 million, compared to a loss of HKD 3.3 million in the same period of 2020[20]. - Total comprehensive income for the six months ended June 30, 2021, was HKD 7,228,000, up from HKD 5,800,000 in 2020, indicating a growth of 24.6%[23]. - The company reported a profit before tax of HKD 11,909,000 for the six months ended June 30, 2021, compared to a loss of HKD 2,704,000 in the same period of 2020[47]. - The company reported a profit attributable to owners of HKD 7,016,000 for the three months ended June 30, 2021, compared to HKD 4,809,000 for the same period in 2020, representing a 46% increase[65]. - For the six months ended June 30, 2021, the profit attributable to owners was HKD 10,849,000, a significant recovery from a loss of HKD 3,271,000 in the same period of 2020[65]. Revenue Breakdown - Revenue from system integration services for the six months ended June 30, 2021, was HKD 242,789,000, up from HKD 178,523,000 in 2020, reflecting a growth of about 36.0%[50]. - Revenue from maintenance services increased to HKD 84,680,000 for the six months ended June 30, 2021, compared to HKD 74,297,000 in 2020, marking a rise of approximately 14.4%[50]. - Revenue from cybersecurity services reached HKD 13,914,000 for the six months ended June 30, 2021, compared to HKD 11,427,000 in 2020, indicating an increase of around 21.8%[50]. - Revenue from cloud infrastructure services reached HKD 264,614,000 for the six months ended June 30, 2021, compared to HKD 227,836,000 in the previous year, marking an increase of about 16.1%[54]. - Cybersecurity services generated revenue of HKD 76,769,000 for the six months ended June 30, 2021, up from HKD 36,411,000 in the same period of 2020, reflecting a significant growth of approximately 110.5%[54]. - Revenue from the public sector amounted to HKD 138,842,000, while the private sector contributed HKD 202,541,000 for the six months ended June 30, 2021, indicating a strong performance across both segments[54]. Expenses and Costs - The total sales and administrative expenses for the six months ended June 30, 2021, were HKD 31.7 million, a decrease from HKD 34.5 million in the same period of 2020[20]. - The company incurred total administrative expenses of HKD 31,671,000 for the six months ended June 30, 2021, compared to HKD 34,536,000 in 2020, indicating a decrease of about 8.0%[47]. - Employee costs for the six months ended June 30, 2021, totaled HKD 47,385,000, up from HKD 43,569,000 in the same period of 2020, indicating a rise of about 4.2%[58]. - The cost of goods sold for the six months ended June 30, 2021, was HKD 249,621,000, compared to HKD 189,671,000 in the previous year, representing an increase of approximately 31.6%[58]. - Research and development expenses for the six months ended June 30, 2021, were HKD 2,614,000, compared to HKD 2,780,000 in the previous year, reflecting a decrease of approximately 6.0%[58]. Cash and Assets - The company's cash and cash equivalents increased to HKD 123,895,000 as of June 30, 2021, from HKD 60,774,000 at the end of 2020, reflecting a significant rise of 103.5%[34]. - Net cash generated from operating activities was HKD 17,556,000 for the six months ended June 30, 2021, a turnaround from a cash outflow of HKD 46,262,000 in the same period last year[34]. - The company’s total assets decreased slightly to HKD 259,268,000 as of June 30, 2021, from HKD 235,302,000 at the end of 2020, a decline of 9.2%[25]. - The company’s total liabilities increased to HKD 158,378,000 as of June 30, 2021, compared to HKD 148,694,000 at the end of 2020, an increase of 6.3%[25]. - The company’s equity attributable to owners increased to HKD 149,935,000 from HKD 142,710,000, reflecting a growth of 5.6%[28]. - The company’s net asset value increased by HKD 7.0 million or 4.9% to HKD 150.4 million as of June 30, 2021, compared to HKD 143.4 million at the end of 2020[92]. Shareholder Information - LiquidTech Limited holds 262,917,327 shares, representing 65.73% of the issued share capital as of June 30, 2021[108]. - The major shareholders, including Xu, Li, Feng, and Park, collectively control approximately 65.73% of the company's equity through LiquidTech and AMS[108]. - The company did not declare an interim dividend for the six months ended June 30, 2021, compared to no dividend declared in the same period of 2020[67]. - The company has no plans to issue new shares or declare dividends in the near term, focusing on strengthening its financial position[67]. Corporate Governance - The audit committee reviewed the company's unaudited interim results for the six months ended June 30, 2021[126]. - The company confirmed compliance with the corporate governance code during the six months ended June 30, 2021[120]. - The audit committee consists of three independent non-executive directors as of June 30, 2021[127]. - The company is committed to enhancing shareholder value through robust corporate governance practices[120].

Financial Performance - The group's unaudited revenue for the three months ended March 31, 2021, was HKD 163.6 million, an increase of approximately HKD 49.9 million or 43.8% compared to HKD 113.7 million for the same period in 2020[16] - The unaudited profit for the three months ended March 31, 2021, was HKD 3.6 million, reversing a loss of HKD 8.6 million recorded for the same period in 2020[16] - The basic and diluted earnings per share for the three months ended March 31, 2021, was HKD 0.96, compared to a loss of HKD 2.02 per share for the same period in 2020[16] - The gross profit for the three months ended March 31, 2021, was HKD 21.1 million, compared to HKD 9.6 million for the same period in 2020[18] - The total comprehensive income for the period was a loss of HKD 211, compared to a loss of HKD 14.8 million for the same period in 2020[21] - The total revenue for the three months ended March 31, 2021, was HKD 164,746,000, representing an increase from HKD 116,987,000 in the same period of 2020, which is a growth of approximately 40.7%[34] - The net profit for the period was HKD 3,553,000, compared to a net loss of HKD 8,578,000 in the same quarter of the previous year, indicating a turnaround in profitability[34] - The gross profit margin for the total revenue was approximately 12.8%, with a gross profit of HKD 21,104,000[34] - The company reported a profit of HKD 3,833,000 for the three months ended March 31, 2021, compared to a loss of HKD 8,080,000 in the same period of 2020[49] - The group recorded a profit of HKD 3.6 million, reversing a loss of HKD 8.6 million in the previous year[58] Revenue Breakdown - Revenue from system integration services was HKD 115,724,000, up from HKD 73,657,000 in the previous year, marking a significant increase of about 57%[34] - Revenue from external customers in South Korea was HKD 156,645,000, which is an increase from HKD 107,794,000 in the previous year, reflecting a growth of about 45.2%[35] - Revenue from maintenance services increased to HKD 40,921,000, a rise of 19.0% compared to HKD 34,137,000 in the previous year[37] - The contribution from the Korean business was HKD 156.6 million, up 45.3% from HKD 107.8 million in the previous year[54] - The public sector contributed HKD 53.7 million, an increase of 9.5% from the previous year[58] - The maintenance services segment reported revenue growth from HKD 34.1 million in the previous year to HKD 40.9 million, driven by an increase in the number of contracts[70] - The cybersecurity services segment achieved revenue of HKD 6.9 million, up 16.9% from HKD 5.9 million year-over-year[70] Expenses and Costs - The total sales and administrative expenses for the three months ended March 31, 2021, were HKD 17.4 million, a decrease from HKD 18.7 million for the same period in 2020[18] - The group’s financial costs for the three months ended March 31, 2021, were HKD 0.25 million, slightly down from HKD 0.27 million for the same period in 2020[18] - The group’s income tax expense for the three months ended March 31, 2021, was HKD 1.4 million, compared to a tax credit of HKD 0.4 million for the same period in 2020[18] - The total administrative and selling expenses were HKD 17,364,000, a decrease from HKD 18,720,000 in the same period last year[34] - Employee costs for the period were HKD 23,336,000, slightly up from HKD 22,279,000 in the previous year[40] - The company incurred research and development costs of HKD 1,278,000, compared to HKD 1,173,000 in the previous year[40] - Director and key management compensation amounted to HKD 2,509,000, an increase from HKD 2,043,000 in the same period of 2020[52] Dividends and Share Capital - The group did not recommend any interim dividend for the three months ended March 31, 2021, consistent with no dividend declared for the same period in 2020[16] - The company did not recommend any interim dividend for the three months ended March 31, 2021, compared to no dividend in the same period of 2020[51] - The average number of ordinary shares outstanding was 400,000,000 for both periods[49] - As of March 31, 2021, the total issued share capital of the company was 400,000,000 shares[84] - The company did not repurchase any shares listed on GEM during the three months ending March 31, 2021[90] Assets and Liabilities - The group’s net current assets increased by 69.9% to HKD 109.8 million compared to HKD 64.6 million in the previous year[58] - The group’s asset-liability ratio was 47.1%, significantly improved from 21.1% at the end of 2020[58] Orders and Contracts - As of January 1, 2021, the company had an unfilled order backlog of HKD 166,124,000, which increased to HKD 293,143,000 by March 31, 2021, reflecting a growth of 76.4%[66] - The company secured new orders totaling HKD 290,605,000 during the period, contributing to a revenue of HKD 115.7 million for the systems integration segment, a 57.1% increase from HKD 73.7 million in the same period last year[66] - The company signed a contract worth 900 million KRW (approximately HKD 6.2 million) with a local government department, further expanding its market presence[70] Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting and internal controls[93] Shareholder Information - Major shareholders, including LiquidTech Limited, hold approximately 65.73% of the issued share capital, indicating strong control over the company[75] - LiquidTech holds 65.73% of the issued share capital, controlled by AMS and its shareholders[81] - AMS is owned by Mr. Xu (25.34%), Mr. Lee (22.71%), Mr. Fung (18.14%), and Mr. Park (14.03%) among others, collectively controlling approximately 65.73% of the company[82]

Financial Performance - For the fiscal year ending December 31, 2020, the company reported a revenue of approximately HKD 679.1 million, an increase of HKD 32.6 million or 5.0% compared to the previous year[16]. - The majority of revenue growth came from the maintenance services segment, which accounted for 24.2% of total revenue[16]. - Operating profit before tax was HKD 9.0 million, while net profit after tax was HKD 7.5 million, translating to earnings per share of HKD 0.0197, up from HKD 0.0109 in 2019[16]. - The company reported revenue of HKD 679.1 million for the year ended December 31, 2020, an increase of HKD 32.6 million or 5.0% compared to HKD 646.5 million in the previous year[22]. - Revenue from the Korean market contributed HKD 652.0 million, up HKD 30.5 million or 4.9% from HKD 621.5 million in the previous year[23]. - The public sector contributed HKD 330.9 million, an increase of HKD 53.9 million or 19.5%, while the private sector contributed HKD 348.1 million, a decrease of HKD 21.3 million[24]. - Gross profit decreased to HKD 76.9 million from HKD 87.0 million, representing a decline of approximately 11.6%[27]. - The company achieved a profit before tax of HKD 9.0 million, an increase of HKD 4.8 million or 111.9% compared to the previous year[27]. - Net profit for the year was HKD 7.5 million, an increase of HKD 3.5 million or 85.9% compared to HKD 4.0 million in the previous year[27]. - Other income increased by HKD 1.6 million or 31.8% to HKD 6.6 million, primarily due to foreign currency translation gains[27]. Cash Flow and Assets - The company generated positive cash flow from operating activities before tax payments of over HKD 18.7 million, slightly lower than HKD 21.6 million in 2019[17]. - Total cash and cash equivalents decreased by HKD 19.9 million to HKD 96.2 million, equating to approximately HKD 0.240 per share[17]. - As of December 31, 2020, the company's net assets increased by HKD 13.2 million to HKD 143.4 million, with equity per share at approximately HKD 0.358[17]. - Current assets decreased to HKD 235.3 million from HKD 255.7 million, a reduction of HKD 20.4 million, primarily due to a decrease in trade and other receivables and cash and cash equivalents[32]. - The company's cash position was maintained at HKD 96.2 million, with a current ratio decreasing from 69.0% in 2019 to 64.7% in 2020[32]. - Current liabilities decreased to HKD 148.7 million from HKD 168.2 million, a reduction of approximately HKD 19.5 million, mainly due to a decrease in trade and other payables[33]. - Non-current liabilities increased significantly by HKD 5.8 million or 260.5%, primarily due to bank loans granted to the company for property acquisition deposits[34]. - The company's net assets increased to HKD 143.4 million from HKD 130.1 million, an increase of HKD 13.2 million[35]. Strategic Initiatives - The company plans to utilize internal resources to support business expansion outside of the Korean and Hong Kong markets[17]. - The company aims to enhance its service offerings to compensate for lost profits from hiring engineers[16]. - The company anticipates a recovery in the second half of 2021, driven by increased online business demand[22]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the next fiscal year[64]. - A strategic acquisition of a local tech firm is anticipated to enhance the company's capabilities and is expected to close by Q3 2024[64]. - The company plans to implement a new customer engagement strategy aimed at improving user retention by 15%[64]. Governance and Compliance - The company has adopted new governance practices to enhance transparency and accountability, aligning with GEM listing rules[72]. - The board of directors consists of seven members, including four executive directors and three independent non-executive directors, ensuring a balanced governance structure[76]. - The audit committee held four meetings during the year ending December 31, 2020, to review the financial performance and reports of the group[88]. - The company has established three committees: the audit committee, remuneration committee, and nomination committee to oversee various aspects of corporate governance[85]. - The company has established an internal audit function to review financial and operational matters, ensuring effective risk management and internal controls[109]. - The company has adopted a dividend policy that considers financial performance, liquidity, funding needs, and shareholder interests when proposing dividends[120]. Market and Operational Challenges - The company faces significant risks related to rapid technological changes and evolving industry standards, which could impact its competitiveness[127]. - The company emphasizes the importance of maintaining good relationships with existing clients and developing new relationships to secure future contracts[126]. - The ongoing COVID-19 pandemic has not significantly adversely affected the group's operations and financial condition to date[169]. Employee and Talent Management - Employee costs totaled approximately 98.8 million HKD for the year ended December 31, 2020, compared to 94.9 million HKD in the previous year, reflecting an increase of 4.1%[58]. - The group employed 220 staff as of December 31, 2020, up from 189 the previous year, due to the recruitment of more engineers in Korea[59]. - The company recognizes employees as valuable assets and offers competitive compensation to attract and retain suitable talent[131]. Future Outlook - The company has set a future outlook with a revenue guidance of $180 million for the next fiscal year, representing a 20% growth[64]. - The group anticipates a recovery in the global economy due to the successful rollout of vaccines, expecting to achieve profitability again in the fiscal year 2021[57].

Financial Performance - For the September quarter, the company recorded revenue of HKD 157.3 million, an increase of HKD 6.8 million or 4.5% compared to the previous quarter[12]. - The company achieved a profit after tax of HKD 7.2 million for the September quarter, marking a consecutive profitable quarter, and a profit of HKD 3.0 million for the nine-month period, reversing the loss from the previous six months[12]. - Earnings per share for the September quarter and the nine-month period were HKD 1.72 and HKD 0.91, respectively[13]. - The company reported a gross profit of HKD 21.2 million for the September quarter, compared to HKD 21.0 million in the same quarter last year[15]. - The net profit attributable to the owners of the company for the September quarter was HKD 6.9 million, compared to HKD 0.5 million in the same quarter last year[15]. - The company reported a net profit of HKD 7.2 million for the September quarter, compared to a profit of HKD 0.3 million in the same quarter last year[15]. - Total comprehensive income for the nine months ended September 30, 2020, was HKD 1,268,000, a recovery from a loss of HKD 14,682,000 in the same period of 2019[18]. - The gross profit for the nine months ended September 30, 2020, was HKD 52,729,000, compared to HKD 48,901,000 in 2019, indicating a growth of approximately 7.4%[31]. - The net profit for the period was HKD 3,046,000, a significant recovery from a loss of HKD 8,281,000 in the same period of the previous year[31]. Revenue Breakdown - The company’s total revenue for the nine-month period was HKD 421.5 million, an increase of HKD 17.7 million or 4.4% year-on-year[12]. - Revenue from the system integration segment was HKD 113,783,000, while maintenance services and cybersecurity services generated HKD 36,035,000 and HKD 8,796,000 respectively for the nine months ended September 30, 2020[28]. - The revenue from system integration services was HKD 292,306,000 for the nine months ended September 30, 2020, compared to HKD 293,713,000 in 2019, showing a slight decrease of 0.5%[36]. - Maintenance services revenue increased to HKD 110,332,000 in 2020 from HKD 92,996,000 in 2019, reflecting a growth of approximately 18.6%[36]. - Cybersecurity services revenue reached HKD 18,883,000 for the nine months ended September 30, 2020, up from HKD 17,065,000 in 2019, marking an increase of about 10.6%[36]. Expenses and Costs - Total sales and administrative expenses for the September quarter were HKD 12.8 million, down from HKD 20.8 million in the previous quarter[15]. - The company incurred total sales and administrative expenses of HKD 12,802,000 for the nine months ended September 30, 2020[28]. - Total sales and administrative expenses decreased to HKD 47,338,000 in 2020 from HKD 60,922,000 in 2019, a reduction of approximately 22.3%[31]. - The company reported a financial cost of HKD 569,000 for the nine months ended September 30, 2020, down from HKD 1,132,000 in 2019, reflecting a decrease of about 49.8%[31]. - Employee costs for the nine months ended September 30, 2020, totaled HKD 64.7 million, slightly up from HKD 64.2 million in the same period last year[42]. Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring compliance with GEM listing rules and corporate governance standards[101]. - The company has adhered to the corporate governance code as of September 30, 2020, enhancing shareholder value and communication[99]. - The company is committed to robust corporate governance practices to fulfill its responsibilities to shareholders[99]. - The audit committee's primary responsibilities include reviewing financial information, risk management, and internal control systems[101]. Market Strategy and Future Plans - The company plans to continue expanding its market presence in Hong Kong and South Korea, focusing on system integration and cybersecurity services[24]. - Future product development will emphasize enhancing network security solutions to meet growing market demands[24]. - The company is exploring potential acquisitions to strengthen its service offerings and market position[24]. - The group aims to diversify its business and explore opportunities in other regions, including China, due to risks posed by the current pandemic[78]. Shareholder Information - The total issued shares of the company as of September 30, 2020, amounted to 400 million shares, with significant ownership concentration among major shareholders[8]. - Major shareholders collectively control approximately 65.73% of the company's equity, indicating a strong alignment among key stakeholders[3]. - LiquidTech Limited holds 262,917,327 shares, representing approximately 65.73% of the issued share capital as of September 30, 2020[86]. Employee and Training - The number of employees increased to 220 as of September 30, 2020, from 193 a year earlier, due to recruitment of more engineers in Korea[81]. - The company has implemented regular technical and on-the-job training for employees to enhance competitiveness and improve employee quality[82].

Financial Performance - For the second quarter of 2020, the company's revenue was HKD 150.5 million, an increase of HKD 36.8 million or 32.3% compared to the first quarter of 2020[13]. - For the first half of 2020, the total revenue reached HKD 264.2 million, representing an increase of HKD 31.5 million or 13.5% year-on-year[13]. - The company's profit after tax for the second quarter was HKD 4.4 million, reversing the loss from the first quarter[13]. - The loss after tax for the first half of 2020 narrowed to HKD 4.2 million, an improvement of approximately 51.0% compared to the same period last year[13]. - Earnings per share for the second quarter was HKD 1.20, compared to a loss of HKD 0.85 per share in the previous quarter[14]. - Total revenue for the six months ended June 30, 2020, was HKD 268,784,000, an increase from HKD 234,365,000 in the same period of 2019, representing a growth of approximately 14.7%[35]. - The company reported a net loss of HKD 4,187,000 for the six months ended June 30, 2020, compared to a net loss of HKD 8,550,000 in the same period of 2019, showing an improvement of about 51.0%[38]. - The company reported a profit attributable to owners of HKD 4.809 million for the three months ended June 30, 2020, compared to a loss of HKD 3.4 million in the same period of 2019[55]. - For the six months ended June 30, 2020, the profit attributable to owners was a loss of HKD 3.271 million, an improvement from a loss of HKD 8.31 million in the same period of 2019[55]. Revenue Breakdown - Revenue from system integration services for the six months ended June 30, 2020, was HKD 178,523,000, compared to HKD 159,478,000 in 2019, reflecting an increase of about 11.9%[38]. - Revenue from external customers for network security services was HKD 11,427,000 for the six months ended June 30, 2020, compared to HKD 10,147,000 in 2019, marking an increase of approximately 12.6%[39]. - The public sector contributed HKD 65,459,000 to total revenue, while the private sector contributed HKD 85,058,000, indicating strong performance across both segments[44]. - Revenue from maintenance services for the six months ended June 30, 2020, was HKD 74,297,000, compared to HKD 63,133,000 in 2019, indicating an increase of approximately 17.6%[39]. - The system integration business segment generated revenue of HKD 178.5 million for the six months ended June 30, 2020, an increase of HKD 19.0 million or 11.9% compared to the same period last year[107]. - Maintenance services revenue increased from HKD 63.1 million to HKD 74.3 million, reflecting an increase of HKD 11.2 million or 17.7% due to the rise in the number of maintenance contracts[107]. - Cybersecurity services revenue recorded a slight increase to HKD 11.4 million, up HKD 1.3 million or 12.6% compared to HKD 10.1 million for the same period last year[107]. Expenses and Costs - The company's administrative expenses decreased to HKD 15.8 million in the second quarter, down from HKD 21.8 million year-on-year[18]. - The company incurred selling and administrative expenses of HKD 34,536,000 for the six months ended June 30, 2020, down from HKD 40,172,000 in 2019, indicating a reduction of approximately 14.0%[38]. - The financial cost for the six months ended June 30, 2020, was HKD 427,000, a decrease from HKD 772,000 in the same period of 2019, reflecting a reduction of about 44.7%[38]. - The company reduced its sales and administrative expenses by HKD 5.6 million or 14.0% to HKD 34.5 million compared to the previous year[86]. - Employee costs for the six months were HKD 43,569,000, slightly higher than HKD 43,272,000 in the previous year[47]. - Total employee costs amounted to approximately HKD 43.6 million for the six months ended June 30, 2020, compared to HKD 43.3 million for the same period last year[107]. Assets and Liabilities - The company's cash and cash equivalents decreased to HKD 60,774,000 as of June 30, 2020, down from HKD 116,075,000 at the beginning of the period[29]. - The company’s total assets decreased to HKD 201,930,000 as of June 30, 2020, from HKD 255,657,000 at the end of 2019[23]. - The company’s total liabilities decreased to HKD 122,663,000 as of June 30, 2020, from HKD 168,601,000 at the end of 2019, reflecting a reduction in financial obligations[23]. - Trade receivables as of June 30, 2020, amounted to HKD 99.354 million, down from HKD 106.064 million as of December 31, 2019[65]. - The net trade receivables after impairment provisions were HKD 78.319 million as of June 30, 2020, compared to HKD 85.830 million at the end of 2019[65]. - The company reported contract assets of HKD 22.237 million as of June 30, 2020, an increase from HKD 21.623 million at the end of 2019[68]. - Contract liabilities increased to HKD 41.435 million as of June 30, 2020, from HKD 30.443 million at the end of 2019[68]. - Trade payables decreased significantly to HKD 41.184 million as of June 30, 2020, from HKD 92.123 million at the end of 2019[69]. - The company's net asset value decreased to HKD 121.18 million from HKD 130.15 million at the end of the previous year, a reduction of approximately HKD 8.96 million[95]. Corporate Governance and Shareholder Information - The company has complied with the corporate governance code provisions as of June 30, 2020[130]. - The audit committee consists of three independent non-executive directors, with the chairman possessing appropriate professional accounting qualifications[135]. - The audit committee's main responsibilities include reviewing financial information, risk management, and internal control systems[136]. - LiquidTech is wholly owned by AMS, which holds approximately 65.73% of the issued share capital[122]. - The four ultimate controlling shareholders of the company collectively control about 65.73% of the company's equity through AMS and LiquidTech[123]. - The total number of issued shares as of June 30, 2020, is 400,000,000 shares[126]. - The average annual salary of the executive directors was approved to be reduced by 30%, effective retroactively from January 1, 2020[130]. - The company has not granted any share options as of June 30, 2020, under its stock option plan[107]. - The company has adopted a share option scheme approved by the sole shareholder on June 21, 2016, but no options have been granted under this scheme since its adoption[134].

Financial Performance - The group's unaudited revenue for the three months ended March 31, 2020, was HKD 113.7 million, an increase of approximately HKD 17.7 million or 18.5% compared to the same period in 2019[11] - The unaudited loss after tax for the three months ended March 31, 2020, was HKD 8.6 million, an increase of approximately HKD 3.7 million or 74.7% compared to the loss of HKD 4.9 million in the same period in 2019[11] - The gross profit for the three months ended March 31, 2020, was HKD 9.6 million, down from HKD 11.4 million in the same period in 2019[14] - The basic and diluted loss per share attributable to owners of the company for the three months ended March 31, 2020, was HKD 2.02, compared to HKD 1.23 in the same period in 2019[14] - The total comprehensive loss for the three months ended March 31, 2020, was HKD 14.8 million, compared to HKD 5.8 million in the same period in 2019[17] - The company reported a foreign exchange loss of HKD 6.2 million for the three months ended March 31, 2020[17] - The company reported a loss before tax of HKD 9,024,000 for Q1 2020, compared to a loss of HKD 4,528,000 in Q1 2019, reflecting a worsening of approximately 99.1%[29] - The total comprehensive income for the three months ended March 31, 2020, was a loss of HKD 14,764,000, compared to a loss of HKD 5,821,000 in the same period of 2019[29] - The company reported a pre-tax loss of HKD 8,080,000 for the three months ended March 31, 2020, compared to a loss of HKD 4,910,000 in the same period of 2019[41] - Gross profit decreased by 15.7% to HKD 9.6 million from HKD 11.4 million for the same period in 2019, primarily due to adverse exchange rates and low-margin projects[49] - The company recorded a pre-tax loss of HKD 9.0 million, compared to a loss of HKD 4.5 million in the same period last year, representing a 99.3% increase in losses[49] Revenue Breakdown - Total revenue for the three months ended March 31, 2020, was HKD 113,730,000, representing an increase from HKD 96,012,000 in the same period of 2019, reflecting a growth of approximately 18.4%[29] - The revenue breakdown by segment for Q1 2020 showed system integration at HKD 73,657,000, maintenance services at HKD 34,137,000, and network security services at HKD 5,936,000[29] - Revenue from system integration services was HKD 73,657,000, up 17.5% from HKD 62,684,000 year-over-year[32] - Revenue from maintenance services increased to HKD 34,137,000, a rise of 18.0% compared to HKD 28,911,000 in the previous year[32] - Cybersecurity business revenue grew by 34.4% to HKD 5.9 million, compared to HKD 4.4 million for the same period in 2019[63] Expenses and Costs - The total administrative expenses for the three months ended March 31, 2020, were HKD 18.7 million, slightly up from HKD 18.4 million in the same period in 2019[14] - The financial costs for the three months ended March 31, 2020, were HKD 270,000, down from HKD 372,000 in the same period in 2019[14] - Employee costs for the period were HKD 22,279,000, slightly up from HKD 21,332,000 in the previous year[34] - The total cost of inventory recognized as an expense was HKD 82,667,000, up from HKD 69,418,000 in the previous year[34] - The company incurred a net impairment provision for trade receivables of HKD 717,000, down from HKD 1,258,000 in the previous year[34] Assets and Equity - The company’s total assets as of March 31, 2020, were HKD 115,384,000, compared to HKD 129,865,000 as of March 31, 2019, indicating a decrease of approximately 11.2%[29] - The asset-to-equity ratio increased to 22.4% as of March 31, 2020, compared to 15.8% as of December 31, 2019, indicating a contraction in total equity[54] Corporate Governance - The company has adhered to the corporate governance code as stipulated in the GEM listing rules during the three months ended March 31, 2020[84] - The company is committed to maintaining robust corporate governance to fulfill its responsibilities to shareholders and enhance shareholder value[83] - The audit committee's main responsibilities include reviewing financial information, risk management, and internal control systems[83] - The audit committee consists of three independent non-executive directors, with Shen Zhenhao serving as the chairman, possessing appropriate professional accounting qualifications[85] - The company has established a corporate governance framework based on good governance principles outlined in the GEM listing rules[83] Shareholder Information - LiquidTech Limited holds 262,917,327 shares, representing 65.73% of the issued share capital as of March 31, 2020[71] - The four ultimate controlling shareholders collectively control approximately 65.73% of the company's share capital[71] - As of March 31, 2020, the company had a total of 400,000,000 issued shares, with significant control held by four major shareholders[3] - The major shareholders collectively control approximately 65.73% of the company's equity[3] Employee and Innovation - The company emphasizes continuous learning and provides regular technical and on-the-job training for employees[66] - The company encourages employee participation in external seminars and examinations to enhance knowledge[66] - The company has adopted a stock option plan to reward eligible individuals contributing to its successful operations, with no options granted as of March 31, 2020[66] - The company is committed to prudent cost control in response to current uncertainties[66] - The ongoing development of data networks and online activities due to the global pandemic presents a bright outlook for the business[66] - As of March 31, 2020, the total employee count increased to 225 from 186, attributed to hiring more engineers in Korea for larger projects[67] - Total employee costs for the three months ending March 31, 2020, were approximately HKD 22.3 million, compared to HKD 21.3 million for the same period in 2019[67] Investments and Acquisitions - The company did not have any significant investments or acquisitions during the three months ended March 31, 2020[59] - The company reported no share buybacks or sales during the three months ended March 31, 2020[84]

Financial Performance - For the fiscal year 2019, Future Data Group Limited reported a net profit of HKD 4.0 million, marking the fourth consecutive year of profitability since its listing on the GEM in 2016[9]. - The group's revenue for the year was approximately HKD 646.5 million, an increase of HKD 41.3 million or 6.8% compared to the previous year, primarily driven by growth in the system integration and maintenance services segment, which accounted for 96.1% of total revenue[11]. - Gross profit for 2019 decreased by 9.7% to HKD 87.0 million, while other income rose from HKD 2.2 million to HKD 5.0 million[11]. - The company achieved a pre-tax profit of HKD 4.3 million, with a net profit after tax of HKD 4.0 million for the year[11]. - The company's net profit for the year was HKD 4.0 million, a decrease of 29.8% from HKD 5.8 million in 2018[20]. - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[55]. - The company reported a strong performance in 2019, with a total revenue of HKD 150 million, representing a year-on-year growth of 25%[67]. - The company provided a positive outlook for 2020, projecting a revenue growth of 20% to HKD 180 million, driven by new product launches and market expansion[67]. Revenue Sources - The company experienced a significant contribution from its Korean operations, accounting for 96.1% of total revenue, with HKD 621.5 million generated[17]. - The maintenance services segment generated approximately HKD 136.9 million in revenue, an increase of about HKD 18.1 million or 15.2% compared to the previous year[40]. - The cybersecurity services segment's revenue slightly increased by HKD 0.8 million or 3.2% to HKD 25.0 million, impacted by political unrest in 2019[40]. - For the year ended December 31, 2019, the company's revenue from system integration projects was approximately HKD 484.6 million, accounting for about 75.0% of total revenue, compared to 76.4% in 2018[113]. Assets and Liabilities - As of December 31, 2019, the group's net assets and total equity were approximately HKD 130.2 million, slightly lower than the previous year due to unfavorable currency exchange losses from the Korean won against the Hong Kong dollar[11]. - Total assets decreased from HKD 315.5 million to HKD 255.7 million, a decline of HKD 59.8 million, attributed to reductions in trade and other receivables and cash and cash equivalents[24]. - Current liabilities decreased from HKD 213.4 million to HKD 168.6 million, a reduction of approximately HKD 44.8 million, driven by a decrease in trade and other payables by HKD 64.8 million, partially offset by an increase in contract liabilities by HKD 24.9 million[24]. - Total equity as of December 31, 2019, was HKD 130,148,000, a decrease of 4.0% from HKD 135,686,000 in 2018[189]. Cash Flow - Total cash generated from operating activities was HKD 1,881,000, down 78.0% from HKD 8,556,000 in the previous year[26]. - The net cash outflow from investing activities was HKD 1,472,000, significantly reduced from HKD 12,254,000 in 2018[30]. - The net cash outflow from financing activities amounted to HKD 10,796,000, primarily due to dividend payments of HKD 5,880,000 and repayment of lease liabilities of HKD 1,941,000[31]. - Cash and cash equivalents stood at HKD 116.1 million, with a current ratio increasing from 63.8% in the previous year to 68.8%, indicating strong liquidity to settle current liabilities[24]. Contracts and Acquisitions - The company secured contracts worth HKD 34.4 million from the National IT Industry Promotion Agency in South Korea, HKD 19.2 million from the Ministry of National Defense for an integrated control system at an air force base, and HKD 10.5 million from Korea Expressway for upgrading ICT infrastructure[11]. - The company completed the acquisition of Maximus Group Consulting Limited in June 2019, enhancing its penetration in the cybersecurity market[18]. - The company signed a three-year contract with one of Hong Kong's largest brokerage firms to provide managed security services[16]. Research and Development - The company incurred research and development expenses of HKD 2,854,000, a decrease of 20.3% from HKD 3,580,000 in the prior year[30]. - Investment in R&D increased by 15%, totaling HKD 20 million, focusing on cybersecurity technologies and solutions[67]. Corporate Governance - The company has adopted a corporate governance framework in compliance with GEM listing rules, ensuring transparency and accountability[65]. - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring a balanced governance structure[68]. - The audit committee held four meetings during the year ended December 31, 2019, to review the company's external auditor's remuneration, employment terms, and independence[80]. - The company has established three committees: the audit committee, the remuneration committee, and the nomination committee, to oversee various aspects of corporate governance[78]. Market Expansion and Strategy - The company plans to explore business opportunities in Singapore and Vietnam markets in 2020[16]. - The group expects to adopt a cautious cost control strategy in response to economic uncertainties in 2020[43]. - The company is considering strategic acquisitions to bolster its portfolio, targeting companies with complementary technologies[55]. - Market expansion plans include entering F markets, with an expected increase in market share by G% over the next two years[55]. Risks and Challenges - The company faces significant risks from rapid technological changes and the emergence of new industry standards, which could render its services outdated and uncompetitive[111]. - The company’s success depends on its ability to adapt to rapidly changing technology and continuously improve employee knowledge to meet evolving market demands[111].

Financial Performance - For the nine months ended September 30, 2019, the group's unaudited revenue was HKD 403.8 million, an increase of approximately HKD 80.7 million or 25.0% compared to the same period in 2018[12]. - The unaudited loss after tax for the nine months ended September 30, 2019, was HKD 8.3 million, a decrease of approximately HKD 10.0 million or 593.2% compared to an unaudited profit of HKD 1.7 million for the same period in 2018[12]. - For the three months ended September 30, 2019, the unaudited revenue was HKD 171.0 million, compared to HKD 119.7 million for the same period in 2018[15]. - The gross profit for the nine months ended September 30, 2019, was HKD 48.9 million, down from HKD 58.5 million for the same period in 2018[15]. - The total comprehensive loss for the nine months ended September 30, 2019, was HKD 14.7 million, compared to a total comprehensive income of HKD 2.3 million for the same period in 2018[17]. - The basic and diluted loss per share for the nine months ended September 30, 2019, was HKD 1.96, compared to earnings of HKD 0.42 for the same period in 2018[15]. - The company reported a net loss of HKD 8.3 million for the nine months ended September 30, 2019, compared to a profit of HKD 1.7 million for the same period in 2018[15]. - The company recorded a foreign exchange loss of HKD 3.3 million for the three months ended September 30, 2019, compared to a gain of HKD 0.4 million for the same period in 2018[17]. - The company reported a loss before tax of HKD 8,816,000 for the nine months, compared to a profit of HKD 3,133,000 in the previous year[33]. - The company reported a loss attributable to owners of the company of HKD 7,826,000 for the nine months ended September 30, 2019, compared to a profit of HKD 1,679,000 in the same period of 2018[52]. Revenue Breakdown - Total revenue for the nine months ended September 30, 2019, was HKD 403,774,000, a 25% increase from HKD 323,060,000 in the same period of 2018[37]. - Revenue from system integration for the nine months was HKD 293,713,000, up 31% from HKD 223,835,000 in 2018[37]. - Revenue from maintenance services decreased slightly to HKD 92,996,000, compared to HKD 78,991,000 in the previous year[37]. - Revenue from cybersecurity services for the nine months was HKD 17,065,000, down 16% from HKD 20,234,000 in 2018[37]. - The geographical revenue breakdown shows that revenue from South Korea was HKD 386,709,000 for the nine months, significantly up from HKD 302,826,000 in 2018[34]. - Total revenue from the public sector for the nine months ended September 30, 2019, was HKD 156,791,000, compared to HKD 86,620,000 in 2018, representing an increase of 80.8%[41]. - The company’s total revenue from the private sector for the nine months ended September 30, 2019, was HKD 246,983,000, compared to HKD 236,440,000 in 2018, reflecting a growth of 4.0%[41]. Expenses and Costs - The company experienced a significant increase in sales and administrative expenses, totaling HKD 60.9 million for the nine months ended September 30, 2019, compared to HKD 55.4 million for the same period in 2018[15]. - The cost of goods sold for the three months ended September 30, 2019, was HKD 129,355,000, compared to HKD 81,734,000 in 2018, reflecting an increase of 58.2%[45]. - Employee costs for the nine months ended September 30, 2019, were HKD 64,240,000, up from HKD 58,692,000 in 2018, indicating an increase of 9.0%[45]. - Research and development costs for the nine months ended September 30, 2019, were HKD 2,506,000, compared to HKD 2,134,000 in 2018, marking an increase of 17.5%[45]. - Selling and administrative expenses increased by HKD 5.5 million or 10.0% to HKD 60.9 million, mainly due to a trade receivables impairment provision of HKD 7.0 million[63]. Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors, with the chairman possessing appropriate professional accounting qualifications[97]. - The company has adhered to the corporate governance code throughout the nine months ended September 30, 2019[95]. - The company is committed to enhancing shareholder value through robust corporate governance practices[95]. - The company has confirmed compliance with the securities trading code by all directors as of September 30, 2019[1]. Strategic Developments - The company operates in three business segments: system integration, maintenance services, and cybersecurity services[28]. - The company completed the acquisition of Maximus Group Consulting Limited and its subsidiary, enhancing its penetration in the cybersecurity services market[80]. - The company faced challenges in the business environment due to geopolitical protests in Hong Kong and trade tensions between the US and China, leading to strategic decisions to sacrifice some profits to maintain or increase market share[59]. - The number of new projects awarded during the period was 609, with 572 projects completed, leaving 84 projects ongoing as of September 30, 2019[70]. - The group aims to win more business during the challenging economic environment and is committed to enhancing employee skills through regular training[81]. Shareholder Information - The major shareholders, LiquidTech Limited, hold 262,917,327 shares, representing approximately 65.73% of the issued share capital[84]. - The major shareholders collectively control approximately 65.73% of the company's equity[1]. - The company has not granted any share options as of September 30, 2019[80]. - The company has not issued any options under the share option plan since its adoption[1]. - The company has not repurchased any shares listed on GEM during the nine months ended September 30, 2019[96].

2019年 中期報告 FUTUREDATA FUTURE DATA GROUP LIMITED (於開曼群島註冊成立的有限公司) 股份代號：8229 | --- | --- | --- | --- | |-------|----------------------------|-----------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

2019年 第一季 度業績報告 (Cash) FUTUREDATA FUTURE DATA GROUP LIMITED (於開曼群島註冊成立的有限公司) 股份代號：8229 | --- | --- | --- | --- | |-------|-----------------------|-----------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...