AHSAY BACKUP(08290)

Search documents
亚势备份(08290) - 2019 - 中期财报
2019-08-19 04:09
Financial Performance - The group recorded revenue of approximately HKD 29.2 million for the six months ended June 30, 2019, a decrease of about 5.2% compared to HKD 30.8 million for the same period in 2018[5]. - The group reported a loss attributable to owners of approximately HKD 0.7 million for the six months ended June 30, 2019, compared to a profit of HKD 2.6 million for the same period in 2018[5]. - The decrease in revenue was primarily due to the discontinuation of the old version of Ahsay™ backup software and a reduction in bulk purchases by customers[6]. - The group reported a loss before tax of HKD 508, compared to a profit of HKD 3.336 million for the same period in 2018[63]. - The total comprehensive loss for the six months ended June 30, 2019, was HKD 826, compared to a total comprehensive income of HKD 2.621 million for the same period in 2018[63]. - Basic loss per share for the six months ended June 30, 2019, was HKD (0.04), compared to earnings of HKD 0.13 for the same period in 2018[63]. - The company reported a net loss of HKD 866,000 for the six months ended June 30, 2019, compared to a profit of HKD 2,625,000 in the same period of 2018[71]. Revenue Sources - The revenue from online backup software and related services was HKD 29,145,000, while the information sharing services contributed HKD 91,000[115]. - The profit (loss) from the online backup software and related services segment was HKD 2,842,000, whereas the information sharing services segment reported a loss of HKD 4,149,000, resulting in a total segment loss of HKD 1,307,000[115]. - The company generated HKD 13,325,000 from leasing software licenses during the six months ended June 30, 2019, compared to HKD 14,074,000 in the same period of 2018, reflecting a decrease of approximately 5.3%[115]. Expenses and Costs - Employee costs rose by approximately 4.8% to HKD 21.9 million for the six months ended June 30, 2019, compared to HKD 20.9 million for the same period in 2018[8]. - Total employee costs for the six months ended June 30, 2019, amounted to HKD 21,864,000, an increase of 4.8% from HKD 20,866,000 in the same period of 2018[121]. - Total other expenses for the six months ended June 30, 2019, were HKD 8,448,000, an increase of 20.2% from HKD 7,025,000 in the same period of 2018[122]. - Advertising and marketing expenses for the six months ended June 30, 2019, were HKD 1,477,000, up 34.8% from HKD 1,096,000 in the same period of 2018[122]. - The company incurred depreciation expenses of HKD 1,741,000 for property, plant, and equipment, and right-of-use assets combined during the reporting period[71]. Cash and Assets - The group maintained a net cash position as of June 30, 2019, with current assets of approximately HKD 91.1 million[15]. - Cash and cash equivalents decreased to HKD 86,636,000 as of June 30, 2019, down from HKD 89,296,000 at the beginning of the year[71]. - Non-current assets increased to HKD 15,371,000 in June 2019 from HKD 7,142,000 in December 2018, primarily due to the addition of right-of-use assets and goodwill[65]. - The company’s total assets decreased to HKD 82,856,000 in June 2019 from HKD 78,205,000 in December 2018[65]. Investments and Acquisitions - Ahsay Systems Limited has agreed to invest 250 million KRW (approximately 1.7 million HKD) in Ahsay Korea Co., Ltd., acquiring a 50% stake after the investment is completed[22]. - The company holds a 28.57% stake in Ahsay Korea Co., Ltd after investing a total of approximately HKD 1,675,000 in two rounds of investment[142]. - The acquisition of Asys Korea was completed on April 29, 2019, allowing the company to expand its core backup business in South Korea[144]. - The total consideration for the acquisition was HKD 670,000, with identifiable net liabilities of HKD 293,000 recognized[147]. Corporate Governance - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM listing rules[46]. - The company has maintained high standards of corporate governance, adhering to all provisions of the GEM listing rules[47]. - The audit committee reviewed the interim financial information and confirmed compliance with applicable accounting standards and GEM listing rules[55]. Employee Management - The group had 103 employees as of June 30, 2019, an increase from 79 employees as of June 30, 2018, primarily due to the redistribution of human resources to the Philippines office[49]. - The company did not face any significant difficulties in recruiting and retaining qualified employees during the reporting period[53]. - The company provided various training programs to enhance employees' professional skills and knowledge related to their responsibilities[53]. Accounting Policies - The company adopted new accounting policies, including the application of the Hong Kong Financial Reporting Standards (HKFRS) effective from January 1, 2019, which did not have a significant impact on the financial position and performance for the period[84]. - The company recognized lease liabilities of HKD 8,496,000 and right-of-use assets of HKD 8,567,000 as of January 1, 2019[108]. - The company applied HKFRS 16 for the first time, resulting in the recognition of a right-of-use asset of HKD 8,567,000 and lease liabilities of HKD 8,496,000[150].
亚势备份(08290) - 2019 Q1 - 季度财报
2019-05-10 04:16
Financial Performance - The group recorded revenue of approximately HKD 14.7 million for the three months ended March 31, 2019, a slight decrease of about 2.7% compared to HKD 15.1 million for the same period in 2018[4] - The group reported a loss attributable to owners of approximately HKD 0.5 million for the three months ended March 31, 2019, compared to a profit of approximately HKD 1.3 million for the same period in 2018[4] - Revenue for the group decreased from approximately HKD 15.1 million to HKD 14.7 million, a slight decline of about 2.7% for the three months ending March 31, 2019[20] - For the three months ended March 31, 2019, the company reported revenue of HKD 14,741,000, a decrease of 2.2% compared to HKD 15,079,000 for the same period in 2018[41] - The total profit before tax for the three months ended March 31, 2019, was a loss of HKD 332,000, compared to a profit of HKD 1,565,000 in the same period of 2018[64] - The company reported a loss of HKD 464,000 during the period, contributing to a cumulative loss of HKD 19,815,000[43] Income and Expenses - Other income increased by approximately 49.0% to HKD 362,000 for the three months ended March 31, 2019, up from HKD 243,000 for the same period in 2018, primarily due to increased bank interest income[6] - Employee costs rose by approximately 5.8% to HKD 11.0 million for the three months ended March 31, 2019, from HKD 10.4 million for the same period in 2018, mainly due to an increase in average headcount[7] - Other expenses increased by approximately 26.5% to HKD 4.3 million for the three months ended March 31, 2019, compared to HKD 3.4 million for the same period in 2018, driven by higher advertising and professional fees[9] - The cost of goods sold was HKD (18,000), resulting in a gross loss[41] - Employee costs and related expenses increased to HKD (10,984,000) from HKD (10,381,000), representing a rise of 5.8% year-over-year[41] - Research and development costs included in employee costs and related expenses amounted to HKD 3,215,000 for the three months ended March 31, 2019, compared to HKD 2,694,000 in the previous year, indicating a rise of 19.4%[69] - Advertising and marketing expenses increased to HKD 756,000 in the first quarter of 2019 from HKD 540,000 in 2018, marking an increase of 40.0%[71] Share Capital and Equity - The issued share capital of the company was HKD 20.0 million, divided into 2,000,000,000 shares with a par value of HKD 0.01 each as of March 31, 2019[16] - As of March 31, 2019, total equity amounted to HKD 76,769,000, a decrease from HKD 77,152,000 at the beginning of the period[43] - As of March 31, 2019, the company had issued 2 billion shares, with All Divine Investments Limited holding 1.5 billion shares, representing 75% of the issued shares[28] Market and Business Development - The global data backup software market is experiencing growth due to increased investment in data backup systems, driven by risks such as hardware failure and data breaches[20] - The group is expanding its international market presence, having signed a memorandum of understanding with Orangetech Co., Ltd. to enhance distribution channels in South Korea[21] - A capital injection of KRW 250 million (approximately HKD 1.7 million) was agreed upon to acquire a 50% stake in Ahsay Korea Co. Limited, aimed at expanding core backup business in South Korea[23] - The launch of AhsayTM Backup Software Version 8 in January 2019 introduced new features, including SharePoint Online backup, enhancing existing Office 365 backup capabilities[24] - The group aims to focus on developing additional value-added features and services for existing customers to maintain competitive advantage in the market[24] - KINTIPS, an online information sharing platform, has been launched, although its revenue contribution was not significant as of March 31, 2019[25] Compliance and Governance - The audit committee reviewed the financial information for the three months ended March 31, 2019, ensuring compliance with applicable accounting standards and regulations[39] - The financial statements are prepared in accordance with the GEM listing rules, ensuring compliance with applicable disclosure requirements[49] - The company adopted new accounting standards effective January 1, 2019, which may impact financial reporting[50] - The company has not reclassified prior year figures under the new accounting standards, which may affect comparability[53] Taxation - The effective tax rate for the company's subsidiaries in Hong Kong is 8.25% on the first HKD 2 million of estimated taxable profits and 16.5% on profits exceeding HKD 2 million[75] - The company has no taxable profits in China, thus no tax provisions were made for the periods ended March 31, 2019, and 2018[75] - The company's current tax expense for Hong Kong profits tax was HKD 146,000 for the three months ended March 31, 2019, down from HKD 175,000 in 2018[9] - Deferred tax expense for the three months ended March 31, 2019, was a credit of HKD (14,000), compared to a charge of HKD 74,000 in 2018[9] - The total tax expense for the group for the three months ended March 31, 2019, was HKD 132,000, a decrease from HKD 249,000 in 2018[9] Other Information - There were no significant acquisitions or disposals during the three months ended March 31, 2019[18] - The group did not have any major capital commitments or contingent liabilities as of March 31, 2019[17] - The company has not purchased, redeemed, or sold any of its listed securities during the reporting period[37] - The company has no potential ordinary shares outstanding, thus no diluted loss per share is presented[78]
亚势备份(08290) - 2018 - 年度财报
2019-03-15 04:14
Financial Performance - Total revenue for the year ended December 31, 2018, was approximately HKD 63.0 million, an increase of about 9.4% compared to HKD 57.6 million for the year ended December 31, 2017[9]. - The company recorded a profit attributable to owners of approximately HKD 7.9 million, a turnaround from a loss of HKD 0.7 million in the same period of 2017[9]. - The group recorded a profit of approximately HKD 14.5 million for the core backup business in 2018, up from HKD 9.2 million in 2017, reflecting improved stability of the seventh version of the software[34]. - Other income increased by 140% to approximately HKD 1.2 million in 2018, up from approximately HKD 0.5 million in 2017, mainly due to higher bank interest income[41]. - Employee costs decreased by approximately HKD 2.6 million to about HKD 39.5 million in 2018, a reduction of about 6.2% from approximately HKD 42.1 million in 2017[44]. - Other expenses decreased by approximately HKD 2.1 million to about HKD 14.5 million in 2018, a reduction of about 12.7% from approximately HKD 16.6 million in 2017[45]. - The increase in revenue was primarily due to a rise of approximately HKD 5.5 million from software rental rights, attributed to the higher adoption rate of the seventh version compared to the previous year[40]. - The company reported a significant increase in revenue, with a year-over-year growth of 25%[69]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20%[69]. Business Strategy and Development - The company plans to continue enhancing its core business and developing new features for the AhsayTM backup software[12]. - The company aims to enhance software development capabilities and expand its customer base, with specific allocations of HKD 11.04 million and HKD 7.874 million respectively[16]. - The company plans to continue developing its existing business while being alert to market trends and demands to maintain competitive advantages[29]. - The company aims to improve product quality management to enhance operational efficiency[12]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $30 million for potential deals[69]. - The company is investing in new technology development, allocating $10 million for R&D in the upcoming year[69]. - The company aims to increase its market share by 5% through enhanced marketing strategies[69]. - The company has launched the eighth version of AhsayTM backup software in January 2019, which includes new features such as Office 365 SharePoint Online backup[34]. Human Resources and Talent Management - The number of employees in the Philippines increased from 5 in 2017 to 15 by December 2018, supporting operational and quality assurance efforts[10]. - The expansion of the talent team in the Philippines is part of the company's strategy to attract more talent and manage costs effectively[10]. - As of December 31, 2018, the group had 82 employees, an increase from 79 in 2017, primarily due to resource reallocation to the Philippines office[57]. - Employee safety and career development are prioritized, with competitive compensation and performance incentive plans in place[139]. Corporate Governance - The company has adopted corporate governance principles based on high-quality board leadership and effective internal controls[146]. - The board consists of four executive directors and three independent non-executive directors as of December 31, 2018[147]. - The company has established four committees: Remuneration, Nomination, Audit, and Risk Management, to oversee various aspects of governance[163]. - The board confirmed its responsibility for risk management and internal control systems, which are designed to manage risks rather than eliminate them[181]. - The company has established a policy for handling and disclosing inside information to ensure compliance with confidentiality requirements[183]. - The company is committed to maintaining high levels of transparency and timely disclosure of relevant information to shareholders[185]. Market and Customer Engagement - The company maintains a diverse global customer base and is enhancing communication and service to improve customer loyalty[142]. - The group reported total revenue for the year ended December 31, 2018, with major customers accounting for approximately 3.6% and 9.0% of total revenue respectively[101]. - The company recognizes the importance of data security and the increasing demand for backup software solutions in the market[20]. Environmental, Social, and Governance (ESG) Commitments - The company reported a commitment to environmental, social, and governance (ESG) performance, emphasizing its importance for sustainable business and community development[193]. - The company aims to minimize its environmental impact by adhering to applicable environmental regulations and promoting clean production practices[198]. - The company encourages green office practices, such as minimizing energy consumption and implementing recycling measures[198]. - The company has committed to reviewing its environmental initiatives regularly to enhance sustainability practices[198]. - Stakeholder engagement is prioritized, with regular communication channels established for internal and external stakeholders, including annual meetings and reports[195].