5 EXPERT | --- | --- | |-----------------------------------------------------|-------| | | | | | | | EXPERT SYSTEMS HOLDINGS LIMITED | | | 思博系統控股有限公司 (於開曼群島註冊成立的有限公司) | | | 股份代號：8319 | | 香港聯合交易所有限公司(「聯交所」) GEM 的特色 GEM 的定位,乃為中小型公司提供一個上市的市場,此等公司相比魁其他在聯交所上市的公 司帶有較高投資風險。有意投資的人士釀了解投資於該等公司的潛在風險,並應經過審價周 詳的考慮後方作出投資決定。 由於 GEM 上市 公司普鍾為中 小型公司,在 GEM 買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險,同時無法保證在 GEM 買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責,對其準確性或完整性亦不發 表任何聲明·並明確表示概不就因本報告全部或任何部分內容而產生或因依賴該等內容而引 致之任何損失承擔任何責任。 本報告的資料乃遵照聯交所GEM證券上 ...

Financial Performance - For the six months ended September 30, 2021, the revenue decreased by approximately 10.3% to about HKD 228.3 million compared to the same period in 2020[21] - The gross profit for the six months ended September 30, 2021, increased by approximately 4.8% to about HKD 34.8 million[21] - The total profit and comprehensive income for the six months ended September 30, 2021, decreased by approximately 48.3% to about HKD 5.0 million[21] - The adjusted profit attributable to owners of the company for the six months ended September 30, 2021, increased by approximately 9.3% to HKD 8.1 million[21] - The basic earnings per share for the six months ended September 30, 2021, decreased by approximately 47.9% to about HKD 0.63[21] - The group reported a net profit of HKD 5,018 thousand for the six months ended September 30, 2021, down 48.3% from HKD 9,708 thousand in 2020[60] - Basic and diluted earnings per share were HKD 0.63 and HKD 0.62 respectively, compared to HKD 1.21 for both in the previous year[63] - The group recorded a net profit attributable to owners of approximately HKD 5.0 million in the first half of the 2022 fiscal year, a decrease of about 48.3% from HKD 9.7 million in the first half of the 2021 fiscal year[112] Revenue Breakdown - Revenue from Hong Kong for the six months ended September 30, 2021, was HKD 227,277 thousand, down from HKD 253,278 thousand in the same period of 2020[45] - Revenue from Macau for the same period was HKD 228,305 thousand, a decrease from HKD 254,458 thousand in 2020[45] - Revenue from the private sector decreased by approximately 14.9% to HKD 103.1 million, accounting for 45.2% of total revenue, compared to HKD 121.2 million in the previous year[89] - Revenue from the public sector decreased by approximately 6.0% to HKD 125.2 million, accounting for 54.8% of total revenue, compared to HKD 133.3 million in the previous year[90] Expenses and Costs - The total administrative expenses for the six months ended September 30, 2021, increased to HKD 9.8 million from HKD 6.0 million in the same period of 2020[24] - Selling expenses increased by approximately 5.9% to about HKD 20.0 million in the first half of the 2022 fiscal year, compared to HKD 18.9 million in the first half of the 2021 fiscal year[105] - The total employee cost for the interim fiscal year 2022 was approximately 23.7 million HKD, compared to 22.0 million HKD for the interim fiscal year 2021[126] Assets and Liabilities - As of September 30, 2021, total assets amounted to HKD 229,943 thousand, a decrease from HKD 249,419 thousand as of March 31, 2021[28] - The company's total equity as of September 30, 2021, was HKD 120,252 thousand, slightly down from HKD 121,995 thousand as of March 31, 2021[29] - The company’s total liabilities as of September 30, 2021, were HKD 109,691 thousand, compared to HKD 122,424 thousand as of March 31, 2021[29] - Trade receivables as of September 30, 2021, amounted to HKD 76,327 thousand, a decrease of 8.9% from HKD 83,742 thousand as of March 31, 2021[53] Acquisitions and Strategic Developments - The company conditionally agreed to acquire 70.0% of the issued share capital of ServiceOne International Holdings Limited, which will become an indirect non-wholly owned subsidiary of the company[84] - The group completed the acquisition of ServiceOne International Holdings Limited on October 8, 2021, expanding its business and customer base across multiple regions including Greater China and Asia-Pacific[98] - The acquisition is expected to enhance the group's revenue base and improve profitability by providing more comprehensive IT services to clients[99] - The group is focusing on strategic development in three key areas: Hybrid Cloud, Multi-Cloud, and "as-a-Service" solutions, as well as enhancing digital transformation for clients[94] Cash Flow and Financial Position - The company reported a net cash outflow from operating activities of HKD 17,139 thousand for the six months ended September 30, 2021, compared to HKD 4,602 thousand for the same period in 2020[35] - Cash and cash equivalents decreased to HKD 134,149 thousand at the end of the reporting period from HKD 152,105 thousand at the beginning of the period[35] - As of September 30, 2021, the company's cash and cash equivalents were approximately 134.1 million HKD, down from approximately 152.1 million HKD as of March 31, 2021[116] Shareholder Information - Major shareholders include Mr. Mo with 91,800,000 shares (11.4%) and Mr. Zi with 89,760,000 shares (11.2%) as of September 30, 2021[142] - Ms. Luk holds 226,890,000 shares (28.2%) and has a related interest in 450,500,000 shares (56.1%)[142] - The total issued shares as of September 30, 2021, is 803,280,000[147] Governance and Compliance - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with GEM Listing Rules, with no known violations during the 2022 fiscal year[160] - The company has applied the corporate governance code as per GEM Listing Rules, maintaining compliance throughout the 2022 fiscal year, except for disclosed deviations[161] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2021, confirming compliance with applicable accounting standards and sufficient disclosures[164]

[Performance Summary](index=4&type=section&id=Performance%20Summary) The first quarter of FY2022 saw a 7.8% revenue decline, yet gross profit, net profit, and EPS all increased by approximately 4%, signaling improved profitability [Q1 Performance Overview](index=4&type=section&id=Q1%20Performance%20Overview) For the first quarter ended June 30, 2021 (FY2022 Q1), the company's revenue decreased by 7.8% year-on-year, but gross profit, net profit, and earnings per share all grew by approximately 4%, indicating improved profitability 2022 Q1 Key Performance Indicators | Indicator | FY2022 Q1 | YoY Change | | :--- | :--- | :--- | | Revenue | Approximately HKD 115.8 million | -7.8% | | Gross Profit | Approximately HKD 17.3 million | +3.9% | | Profit and Total Comprehensive Income | Approximately HKD 4.0 million | +3.9% | | Earnings Per Share | Approximately 0.50 HK cents | +4.2% | [Condensed Consolidated Financial Statements](index=5&type=section&id=Condensed%20Consolidated%20Financial%20Statements) Despite a 7.8% revenue decrease, effective cost control led to a 3.9% increase in gross profit and net profit, with total equity growing due to profit and share option exercises, as detailed in the comprehensive notes [Condensed Consolidated Statement of Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) This quarter's revenue was HKD 115.8 million, a 7.8% decrease from HKD 125.6 million in the same period last year. Despite the revenue decline, gross profit increased by 3.9% year-on-year to HKD 17.29 million due to effective control over cost of sales, resulting in a profit for the period of HKD 4.03 million, a 3.9% increase year-on-year Consolidated Statement of Comprehensive Income (For the three months ended June 30) | Item (HKD thousands) | 2021 (Unaudited) | 2020 (Unaudited) | | :--- | :--- | :--- | | Revenue | 115,835 | 125,641 | | Cost of sales | (98,549) | (108,996) | | **Gross Profit** | **17,286** | **16,645** | | Other income and gains | 1,016 | 420 | | Selling expenses | (9,779) | (9,378) | | Administrative expenses | (3,581) | (2,896) | | **Profit before income tax expense** | **4,833** | **4,652** | | Income tax expense | (804) | (776) | | **Profit and total comprehensive income for the period** | **4,029** | **3,876** | | **Basic earnings per share** | **0.50 HK cents** | **0.48 HK cents** | [Condensed Consolidated Statement of Changes in Equity](index=6&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) As of June 30, 2021, the company's total equity increased from HKD 122.0 million at the beginning of the period to HKD 126.1 million. This growth primarily resulted from the HKD 4.03 million profit recorded during the period, along with a small increase in share capital and share premium due to the exercise of share options - As of June 30, 2021, the Group's total equity was **HKD 126,122 thousand**, an increase from **HKD 121,995 thousand** as of March 31, 2021[10](index=10&type=chunk) - The primary factors contributing to the increase in equity include a profit for the period of **HKD 4,029 thousand** and shares issued due to the exercise of share options[10](index=10&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) The financial statement notes provide detailed explanations of the company's business, accounting policies, segment information, revenue composition, taxation, dividends, and earnings per share calculation. Key information points include: the company primarily engages in IT infrastructure solutions, its business is highly concentrated in Hong Kong, and customer concentration decreased in the current period. The company proposes a final dividend for the year - The Group is principally engaged in providing information technology infrastructure solutions in Hong Kong and Macau[12](index=12&type=chunk) Revenue by Geographical Region (HKD thousands) | Region | 2021 Q1 | 2020 Q1 | | :--- | :--- | :--- | | Hong Kong | 115,750 | 125,258 | | Macau | 85 | 383 | | **Total** | **115,835** | **125,641** | - During the reporting period, no single customer contributed **10% or more** of the Group's revenue, whereas in the same period last year, one single customer contributed **25.6%** of revenue, indicating a reduction in customer concentration risk[19](index=19&type=chunk) - The Board recommends a final dividend of **0.90 HK cents** per ordinary share for the year ended March 31, 2021, totaling **HKD 7,204,000**, subject to approval at the Annual General Meeting[27](index=27&type=chunk) [Management Discussion and Analysis](index=11&type=section&id=Management%20Discussion%20and%20Analysis) Public sector growth offset private sector decline this quarter, with the company focusing on strategic IT opportunities and M&A while managing costs amidst economic uncertainties, alongside a significant post-period acquisition [Business Review and Outlook](index=11&type=section&id=Business%20Review%20and%20Outlook) This quarter's business performance showed divergence: public sector business revenue and gross profit both achieved significant growth, effectively offsetting the decline in the private sector due to reduced demand. Looking ahead, despite macroeconomic uncertainties, the company will focus on four strategic directions, including hybrid cloud and cybersecurity, to drive long-term growth, and will prudently explore M&A opportunities Public vs. Private Sector Business Performance Comparison (FY2022 Q1 vs FY2021 Q1) | Sector | Revenue Change | Gross Profit Change | Gross Margin Change | | :--- | :--- | :--- | :--- | | **Private Sector** | -25.8% | -15.6% | +1.9 percentage points | | **Public Sector** | +13.7% | +32.3% | +1.9 percentage points | - The company believes the short-to-medium term economic environment is challenging due to the ongoing global coronavirus pandemic and uncertainties arising from US-China tensions[36](index=36&type=chunk) - The company's long-term strategy focuses on four key business opportunities: (i) hybrid cloud, multi-cloud, and "as-a-service"; (ii) container technology and DevOps; (iii) cybersecurity; and (iv) application management services[38](index=38&type=chunk) - The company will continue to explore suitable merger and acquisition opportunities and has implemented prudent cost optimization measures to address the current revenue environment[39](index=39&type=chunk) [Financial Review](index=14&type=section&id=Financial%20Review) This quarter's financial review indicates that although total revenue decreased by 7.8% due to reduced customer demand, the gross profit margin improved from 13.2% to 14.9%, primarily benefiting from more favorable terms obtained from suppliers. This led to a 3.9% year-on-year increase in gross profit. Selling and administrative expenses rose due to increased staff costs, but profit attributable to owners of the company still achieved a 3.9% growth - Revenue decreased by **7.8%** from approximately **HKD 125.6 million** to approximately **HKD 115.8 million**, primarily due to reduced customer demand for information technology infrastructure solutions[41](index=41&type=chunk) - Gross profit margin increased by **1.7 percentage points** from **13.2%** in the same period last year to **14.9%**, mainly due to the company obtaining more favorable terms from suppliers[42](index=42&type=chunk) - Selling expenses and administrative expenses increased by **4.3%** and **23.7%** year-on-year, respectively, primarily due to increased staff costs[44](index=44&type=chunk)[45](index=45&type=chunk) - Profit attributable to owners of the company increased by **3.9%** from approximately **HKD 3.9 million** to approximately **HKD 4.0 million**[50](index=50&type=chunk) [Events After Reporting Date](index=15&type=section&id=Events%20After%20Reporting%20Date) Subsequent to the reporting period, the company entered into a significant acquisition agreement on July 9, 2021, to acquire a 70% equity interest in ServiceOne International Holdings Limited, which may impact the company's future operations - On July 9, 2021, the company entered into a sale and purchase agreement to acquire **70%** of the issued share capital of ServiceOne International Holdings Limited[52](index=52&type=chunk) [Other Information](index=16&type=section&id=Other%20Information) This section details director and major shareholder equity interests, outlines the share option scheme, and confirms the company's adherence to corporate governance practices with one noted deviation [Directors' and Chief Executive's Interests and Major Shareholders' Interests](index=16&type=section&id=Directors'%20and%20Chief%20Executive's%20Interests%20and%20Major%20Shareholders'%20Interests) This section details the shareholdings of the company's directors, chief executives, and major shareholders. As of June 30, 2021, Mr. Chu Siu Sum, Mr. Lau Wai Kwok, and Mr. Wong Chu Ki were the directors with the largest shareholdings. Additionally, the interests of major shareholders such as Mr. Mok Chu Leung and Mr. Cheung Lap Kei are listed Directors' Interests in the Company's Ordinary Shares (As of June 30, 2021) | Director Name | Nature of Interest | Total Number of Shares | Approximate Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | Mr. Chu Siu Sum | Beneficial owner | 226,890,000 | 28.3% | | Mr. Lau Wai Kwok | Beneficial owner | 100,000,000 | 12.5% | | Mr. Wong Chu Ki | Beneficial owner | 53,300,000 | 6.7% | | Mr. Chan Kin Mei | Beneficial owner | 6,720,000 | 0.8% | Major Shareholders' Interests in the Company's Ordinary Shares (As of June 30, 2021) | Shareholder Name | Nature of Interest | Total Number of Shares Held | Approximate Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | Mr. Mok Chu Leung | Beneficial owner | 91,800,000 | 11.5% | | Mr. Cheung Lap Kei | Beneficial owner | 89,760,000 | 11.2% | [Share Option Scheme](index=19&type=section&id=Share%20Option%20Scheme) As of June 30, 2021, there were 7,000,000 outstanding share options under the company's share option scheme. All these options were granted on April 15, 2019, with an exercise price of HKD 0.111 per share. No new options were granted during the reporting period, but some options were exercised or lapsed - As of June 30, 2021, there were **7,000,000** outstanding share options under the scheme[63](index=63&type=chunk) - All outstanding share options have an exercise price of **HKD 0.111** per share, exercisable in five tranches until April 14, 2029[63](index=63&type=chunk)[70](index=70&type=chunk) [Corporate Governance Practices](index=21&type=section&id=Corporate%20Governance%20Practices) The company is committed to maintaining a high level of corporate governance. During the reporting period, the company complied with the Corporate Governance Code set out in Appendix 15 to the GEM Listing Rules. The only deviation is that the company secretary is not an employee of the company, an arrangement the Board considers cost-effective. The Audit Committee has reviewed the quarterly financial statements and deemed their disclosure sufficient - The company has complied with the Corporate Governance Code throughout the reporting period, with one deviation: the company secretary, Mr. Lau Siu Kei, is not an employee of the company, an arrangement the Board considers more cost-effective[75](index=75&type=chunk) - The company's Audit Committee, in conjunction with management, has reviewed the unaudited condensed consolidated financial statements for the three months ended June 30, 2021, and is of the opinion that adequate disclosures have been made[76](index=76&type=chunk)

[Company and Financial Highlights](index=4&type=section&id=%E6%91%98%E8%A6%81) [Company Information](index=4&type=section&id=%E5%85%AC%E5%8F%B8%E8%B3%87%E6%96%99) This section provides core information about Expert Systems Holdings Limited, including board members, committee structures, auditors, registered office, principal place of business, bankers, and stock code (8319) - Mr. Wong Chu Kei is the Chairman and Non-executive Director, while Mr. Lau Wai Kwok is the Chief Executive Officer and Executive Director[5](index=5&type=chunk) - The company is listed on GEM in Hong Kong under stock code **8319**[8](index=8&type=chunk) [Financial Highlights](index=6&type=section&id=%E6%91%98%E8%A6%81) For the fiscal year ended March 31, 2021, the company achieved significant growth across key financial metrics, with revenue up 14.3%, gross profit up 23.3%, and profit and total comprehensive income surging 103.1%, while adjusted profit (excluding government subsidies) still grew a robust 61.0% Key Financial Performance Indicators for FY2021 | Indicator | FY2021 | Year-on-Year Change | | :--- | :--- | :--- | | Revenue | Approx. **533.9 million HKD** | +14.3% | | Gross Profit | Approx. **72.0 million HKD** | +23.3% | | Profit and Total Comprehensive Income | Approx. **21.7 million HKD** | +103.1% | | Adjusted Profit Attributable to Owners* | **17.2 million HKD** | +61.0% | | Earnings Per Share | Approx. **2.72 HK cents** | +103.1% | *Adjusted profit excludes HKD 4.5 million in government Employment Support Scheme subsidies [Chairman's Statement](index=7&type=section&id=%E4%B8%BB%E5%B8%AD%E5%A0%B1%E5%91%8A) Chairman Mr. Wong Chu Kei reported excellent FY2021 results despite COVID-19 and economic uncertainties, with revenue up 14.3% and profit up 103.1%, maintaining gross margin and increasing market share, while the board proposed a doubled final dividend of 0.90 HK cents per share, cautiously optimistic about digital transformation opportunities and exploring M&A, including a potential acquisition of an IT infrastructure management services company in Greater China and APAC FY2021 Performance and Dividend | Indicator | Amount | Year-on-Year Change | | :--- | :--- | :--- | | Revenue | **533.9 million HKD** | +14.3% | | Profit for the Year | **21.7 million HKD** | +103.1% | | Proposed Final Dividend | **0.90 HK cents per share** | +100% | - The company believes that increased demand for digital transformation products and services in the new normal presents continuous business opportunities for the Group[19](index=19&type=chunk)[20](index=20&type=chunk) - The Group is exploring M&A opportunities and has announced a potential acquisition of IT infrastructure management service companies to capitalize on business opportunities arising from the Greater Bay Area and Belt and Road initiatives[23](index=23&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E5%8F%8A%E5%88%86%E6%9E%90) [Business Review](index=9&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%87) The Group primarily provides IT infrastructure solutions, achieving 14.3% revenue growth and 23.3% gross profit growth in FY2021, driven by increased demand from both private and public sector clients and improved supplier terms that enhanced overall gross margin - The Group's core business involves evaluating, designing, and implementing integrated third-party hardware and software IT infrastructure solutions for clients[26](index=26&type=chunk) [Private Sector Business](index=9&type=section&id=%E7%A7%81%E7%87%9F%E9%A0%98%E5%9F%9F%E6%A5%AD%E5%8B%99) Private sector business achieved robust growth in FY2021, with revenue up 12.1% to HKD 240.8 million (45.1% of total), gross profit up 24.6% to HKD 38.7 million, and gross margin improving from 14.4% to 16.1%, driven by increased client demand and more favorable supplier terms Private Sector Business Performance | Indicator | FY2021 | FY2020 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | **240.8 million HKD** | **214.8 million HKD** | +12.1% | | Gross Profit | **38.7 million HKD** | **31.0 million HKD** | +24.6% | | Gross Profit Margin | **16.1%** | **14.4%** | +1.7 percentage points | [Public Sector Business](index=9&type=section&id=%E5%85%AC%E7%87%9F%E9%A0%98%E5%9F%9F%E6%A5%AD%E5%8B%99) Public sector business, a primary revenue source, showed strong performance in FY2021, with revenue up 16.1% to HKD 293.1 million (54.9% of total), gross profit up 21.9% to HKD 33.3 million, and gross margin slightly increasing to 11.4%, also driven by increased client demand and favorable supplier terms Public Sector Business Performance | Indicator | FY2021 | FY2020 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | **293.1 million HKD** | **252.5 million HKD** | +16.1% | | Gross Profit | **33.3 million HKD** | **27.4 million HKD** | +21.9% | | Gross Profit Margin | **11.4%** | **10.8%** | +0.6 percentage points | [Outlook and Prospects](index=10&type=section&id=%E5%B1%95%E6%9C%9B%E5%8F%8A%E5%89%8D%E6%99%AF) The Group anticipates a challenging short-to-medium term economic environment but remains optimistic about long-term digital transformation trends, strategically focusing on hybrid/multi-cloud, container/DevOps, cybersecurity, and application management services, while strengthening supplier collaborations and prudently exploring M&A opportunities to enhance shareholder value - Despite global economic uncertainties, the Group believes enterprise digital transformation will continue to generate business opportunities[32](index=32&type=chunk) - The company has identified four strategic development directions: (i) hybrid cloud, multi-cloud, and 'as-a-service'; (ii) container technology and DevOps; (iii) cybersecurity; and (iv) application management services[32](index=32&type=chunk) - The company will continue to prudently explore suitable M&A opportunities to drive growth and enhance enterprise value[33](index=33&type=chunk) [Financial Review](index=11&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%87) In FY2021, the Group demonstrated strong financial performance with total revenue up 14.3% to HKD 533.9 million, gross profit up 23.3% to HKD 72.0 million, and gross margin improving to 13.5%, while other income significantly increased due to HKD 4.5 million in government Employment Support Scheme subsidies, and profit attributable to owners surged 103.1% to HKD 21.7 million FY2021 Financial Performance Overview | Financial Indicator | FY2021 | FY2020 | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Revenue | **533.9 million HKD** | **467.3 million HKD** | +14.3% | | Gross Profit | **72.0 million HKD** | **58.4 million HKD** | +23.3% | | Gross Profit Margin | **13.5%** | **12.5%** | +1.0 percentage point | | Other Income and Gains | **6.0 million HKD** | **1.2 million HKD** | +406.1% | | Selling Expenses | **40.3 million HKD** | **35.0 million HKD** | +15.5% | | Administrative Expenses | **12.4 million HKD** | **11.2 million HKD** | +10.3% | | Profit Attributable to Owners | **21.7 million HKD** | **10.7 million HKD** | +103.1% | | Earnings Per Share | **2.72 HK cents** | **1.34 HK cents** | +103.1% | - The significant increase in other income and gains primarily resulted from **HKD 4.5 million** in government subsidies recognized under the 'Employment Support Scheme' of the 'Anti-epidemic Fund' during the period[38](index=38&type=chunk) [Liquidity and Financial Resources](index=12&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E3%80%81%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90%E5%8F%8A%E6%92%A5%E8%B3%87) The Group maintains a robust financial position, primarily funding operations through cash generated from operating activities, with no bank borrowings as of March 31, 2021, and cash and cash equivalents significantly increasing to HKD 152.1 million, reflecting extremely low financial risk with a zero gearing ratio Liquidity and Capital Structure | Indicator | March 31, 2021 | March 31, 2020 | | :--- | :--- | :--- | | Cash and Cash Equivalents | **152.1 million HKD** | **95.4 million HKD** | | Bank Borrowings | None | None | | Gearing Ratio | Zero | Zero | - As of March 31, 2021, the Group had a bank credit facility of **HKD 10.0 million**, of which **HKD 2.0 million** was utilized[49](index=49&type=chunk) [Biographies of Directors and Senior Management](index=13&type=section&id=%E8%91%A3%E4%BA%8B%E5%8F%8A%E9%AB%98%E7%B4%9A%E7%AE%A1%E7%90%86%E5%B1%A4%E5%B1%A5%E6%AD%B7%E8%A9%B3%E6%83%85) This section details the personal biographies of the company's board members and senior management, including their age, positions, responsibilities, educational backgrounds, and extensive experience in the information technology and related industries [Executive Directors](index=15&type=section&id=%E5%9F%B7%E8%A1%8C%E8%91%A3%E4%BA%8B) The executive director team comprises CEO Mr. Lau Wai Kwok, Ms. Lau Tsz Yan overseeing private sector sales, and Mr. So Cheuk Wah managing public sector sales, all possessing over 20 years of experience in the IT industry - Mr. Lau Wai Kwok serves as Chief Executive Officer, responsible for the Group's overall development and daily operations[66](index=66&type=chunk) - Ms. Lau Tsz Yan and Mr. So Cheuk Wah are both General Managers of Sales, responsible for the private and public sector sales teams, respectively[70](index=70&type=chunk) [Non-executive Directors](index=15&type=section&id=%E9%9D%9E%E5%9F%B7%E8%A1%8C%E8%91%A3%E4%BA%8B) Non-executive directors include Chairman Mr. Wong Chu Kei, Mr. Chu Siu Sum, and Mr. Chan Kin Mei, who provide professional advice on the Group's business strategy, finance, and corporate governance, leveraging their extensive backgrounds in IT and financial accounting - Mr. Wong Chu Kei serves as Chairman, responsible for leading the Board and advising on business strategies[65](index=65&type=chunk) [Independent Non-executive Directors](index=17&type=section&id=%E7%8D%A8%E7%AB%8B%E9%9D%9E%E5%9F%B7%E8%A1%8C%E8%91%A3%E4%BA%8B) The independent non-executive director team comprises Mr. Au Yu Kim, Mr. Chung Fuk Wing, Mr. Ko Man Fu, and Mr. Mak Wai Shing, who provide independent judgment and oversight to the Board with expertise in accounting, engineering, law, and trade - The four independent non-executive directors provide independent professional advice to the company on strategy, investment, policies, and accountability[76](index=76&type=chunk)[79](index=79&type=chunk)[80](index=80&type=chunk)[81](index=81&type=chunk) [Senior Management](index=19&type=section&id=%E9%AB%98%E7%B4%9A%E7%AE%A1%E7%90%86%E5%B1%A4) Senior management includes Mr. Yan Tsz Yin, Senior Manager of Business Development and Sales Operations, and Ms. Wong Yuk Lam, General Manager of Finance, both possessing nearly 20 years or more of professional experience in IT sales and marketing, and financial accounting, respectively [Corporate Governance Report](index=18&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%A0%B1%E5%91%8A) This report outlines the company's corporate governance practices for FY2021, confirming adherence to the GEM Listing Rules' Corporate Governance Code (Appendix 15), with one deviation regarding the company secretary not being an employee, and detailing the Board's structure and responsibilities, the composition and functions of its four committees (Audit, Remuneration, Nomination, Corporate Governance), and the implementation of internal control systems to ensure effective management and accountability [Board of Directors](index=20&type=section&id=%E8%91%A3%E4%BA%8B%E6%9C%83) The Board of Directors is responsible for the Group's overall management and strategy, comprising 10 members as of the reporting date (3 executive, 3 non-executive, 4 independent non-executive), meeting listing rule requirements, with separate roles for Chairman and CEO to ensure checks and balances - The Board comprises **10 directors**, with **4 independent non-executive directors**, exceeding the one-third requirement[92](index=92&type=chunk) - The roles of Chairman (Mr. Wong Chu Kei) and Chief Executive Officer (Mr. Lau Wai Kwok) are separate to prevent concentration of power[97](index=97&type=chunk) [Board Committees](index=23&type=section&id=%E8%91%A3%E4%BA%8B%E5%A7%94%E5%93%A1%E6%9C%83) The Board has four specialized committees: Audit, Remuneration, Nomination, and Corporate Governance, each with clear written terms of reference and composed of directors with relevant expertise (mostly independent non-executive directors) to oversee specific areas - The Audit Committee is chaired by Independent Non-executive Director Mr. Au Yu Kim, responsible for overseeing financial reporting, external auditors, and internal controls[104](index=104&type=chunk)[105](index=105&type=chunk) - The Remuneration Committee is chaired by Independent Non-executive Director Mr. Ko Man Fu, responsible for reviewing the remuneration policies of directors and senior management[108](index=108&type=chunk) - The Nomination Committee is chaired by Independent Non-executive Director Mr. Chung Fuk Wing, responsible for the nomination, appointment, and evaluation of directors[110](index=110&type=chunk) - The Corporate Governance Committee is chaired by Non-executive Director Mr. Chan Kin Mei, responsible for formulating and reviewing the company's corporate governance policies[116](index=116&type=chunk) [Internal Control and Risk Management](index=27&type=section&id=%E5%85%A7%E9%83%A8%E7%9B%A3%E6%8E%A7%E5%8F%8A%E9%A2%A8%E9%9A%AA%E7%AE%A1%E7%90%86) The Board ensures the Group maintains sound and effective internal control systems, having appointed an independent internal control consultant in FY2021 whose recommendations were fully implemented, and has established risk management policies and measures for risk identification, analysis, and mitigation by the Board and senior management, with ultimate oversight by the Audit Committee and the Board - The company engaged an independent consultant to review its internal control system and has fully implemented the recommended enhancement measures[130](index=130&type=chunk) - The Group has established risk management policies, with management responsible for risk identification and the Audit Committee and Board providing oversight[131](index=131&type=chunk) [Report of the Directors](index=28&type=section&id=%E8%91%A3%E4%BA%8B%E6%9C%83%E5%A0%B1%E5%91%8A) This report outlines the Group's business, financial results, and corporate affairs for the year ended March 31, 2021, confirming its primary business as IT infrastructure solutions with no significant changes, and the Board's recommendation of a 0.90 HK cents per share final dividend, while also disclosing key customer and supplier concentration, directors' interests in shares and share options, and compliance with non-competition undertakings by controlling shareholders, with no major acquisitions or disposals during the year [Results and Dividends](index=30&type=section&id=%E6%A5%AD%E7%B8%BE%E5%8F%8A%E8%82%A1%E6%81%AF) The Board recommends a final dividend of 0.90 HK cents per ordinary share for FY2021, double the 0.45 HK cents from FY2020, subject to shareholder approval at the upcoming Annual General Meeting - A final dividend of **0.90 HK cents per share** is proposed, doubling last year's **0.45 HK cents**[148](index=148&type=chunk) [Major Customers and Suppliers](index=31&type=section&id=%E4%B8%BB%E8%A6%81%E5%AE%A2%E6%88%B6%E5%8F%8A%E4%BE%9B%E6%87%89%E5%95%86) During the fiscal year, the Group experienced high customer and supplier concentration, with the top five customers contributing 30.5% of total revenue (largest customer 14.9%), and the top five suppliers accounting for 68.7% of total purchases (largest supplier 35.7%) Customer and Supplier Concentration | Category | Percentage | | :--- | :--- | | Top Five Customers of Total Revenue | Approx. **30.5%** | | Largest Customer of Total Revenue | Approx. **14.9%** | | Top Five Suppliers of Total Purchases | Approx. **68.7%** | | Largest Supplier of Total Purchases | Approx. **35.7%** | [Directors' and Chief Executive's Interests in Shares](index=34&type=section&id=%E8%91%A3%E4%BA%8B%E5%8F%8A%E4%B8%BB%E8%A6%81%E8%A1%8C%E6%94%BF%E4%BA%BA%E5%93%A1%E6%96%BC%E8%82%A1%E4%BB%BD%E3%80%81%E7%9B%B8%E9%97%9C%E8%82%A1%E4%BB%BD%E6%88%96%E5%82%B5%E6%AC%8A%E8%AD%89%E7%9A%84%E6%AC%8A%E7%9B%8A%E5%8F%8A%E6%B7%A1%E5%80%89) The report discloses the company's ordinary shares and share options held by directors and chief executives as of March 31, 2021, with key shareholders including Mr. Chu Siu Sum, Mr. Lau Wai Kwok, and Mr. Wong Chu Kei Directors' Long Positions in Company's Ordinary Shares | Director/Chief Executive Name | Total Shares | Nature of Interest | | :--- | :--- | :--- | | Mr. Chu Siu Sum | **226,890,000** | Beneficial Owner | | Mr. Lau Wai Kwok | **100,000,000** | Beneficial Owner | | Mr. Wong Chu Kei | **53,300,000** | Beneficial Owner | | Mr. Chan Kin Mei | **6,720,000** | Beneficial Owner | - Several directors and independent non-executive directors hold share options granted under the share option scheme[179](index=179&type=chunk) [Share Option Scheme](index=36&type=section&id=%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) The company adopted a share option scheme on March 15, 2016, to incentivize contributors, granting 16 million options to directors and employees in April 2019, with 15.9 million options unexercised as of March 31, 2021 (approximately 2.0% of issued shares), of which 3.18 million have vested - In April 2019, the company granted **16 million** share options with an exercise price of **0.111 HKD per share**[187](index=187&type=chunk) - As of March 31, 2021, the company had **15.9 million** unexercised share options, representing approximately **2.0%** of issued shares[187](index=187&type=chunk) [Financial Statements and Notes](index=37&type=section&id=%E8%B2%A1%E5%8B%99%E8%B3%87%E6%96%99) [Summary of Financial Information](index=39&type=section&id=%E8%B2%A1%E5%8B%99%E8%B3%87%E6%96%99%E6%A6%82%E8%A6%81) This section provides a summary of the Group's key financial data for the past five fiscal years (2017-2021), illustrating a continuous growth trend in revenue, gross profit, profit, earnings per share, and asset and liability scales Five-Year Financial Performance Summary (Unit: HKD Thousand) | Year Ended March 31 | 2021 | 2020 | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | :--- | :--- | | Revenue | **533,944** | **467,293** | **432,529** | **337,223** | **306,453** | | Gross Profit | **72,008** | **58,383** | **53,950** | **43,249** | **42,621** | | Profit for the Year | **21,720** | **10,695** | **10,753** | **6,889** | **6,987** | | Earnings Per Share (HK cents) | **2.72** | **1.34** | **1.34** | **0.86** | **0.88** | Five-Year Financial Position Summary (Unit: HKD Thousand) | As of March 31 | 2021 | 2020 | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Assets | **257,975** | **220,382** | **212,702** | **183,894** | **160,049** | | Total Liabilities | **135,980** | **116,870** | **116,995** | **98,940** | **81,984** | | Total Equity | **121,995** | **103,512** | **95,707** | **84,954** | **78,065** | [Independent Auditor's Report](index=40&type=section&id=%E7%8D%A8%E7%AB%8B%E6%A0%B8%E6%95%B8%E5%B8%AB%E5%A0%B1%E5%91%8A) Auditor BDO Limited issued an unmodified opinion on the company's consolidated financial statements for the year ended March 31, 2021, deeming them to present a true and fair view of the Group's financial position and performance, with 'Impairment assessment of trade receivables' identified as a key audit matter due to significant management judgment involved - The auditor issued an **unmodified opinion** on the consolidated financial statements for FY2021[217](index=217&type=chunk) - The 'Impairment assessment of trade receivables' was identified as a key audit matter due to its material carrying amount and the significant management judgment involved in its assessment[219](index=219&type=chunk)[224](index=224&type=chunk) [Consolidated Financial Statements](index=44&type=section&id=%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) This section presents the Group's core financial statements, including the consolidated statement of comprehensive income, consolidated statement of financial position, consolidated statement of changes in equity, and consolidated statement of cash flows, comprehensively reflecting the Group's operating results, financial position, and cash flow for FY2021 Consolidated Statement of Comprehensive Income Summary (Unit: HKD Thousand) | Item | 2021 | 2020 | | :--- | :--- | :--- | | Revenue | **533,944** | **467,293** | | Gross Profit | **72,008** | **58,383** | | Profit Before Income Tax Expense | **25,051** | **12,781** | | Profit and Total Comprehensive Income for the Year | **21,720** | **10,695** | Consolidated Statement of Financial Position Summary (Unit: HKD Thousand) | Item | March 31, 2021 | March 31, 2020 | | :--- | :--- | :--- | | Total Assets | **257,975** | **220,382** | | Total Liabilities | **135,980** | **116,870** | | Total Equity | **121,995** | **103,512** | Consolidated Statement of Cash Flows Summary (Unit: HKD Thousand) | Item | 2021 | 2020 | | :--- | :--- | :--- | | Net Cash From Operating Activities | **63,592** | **1,182** | | Net Cash (Used in) Investing Activities | **(1,724)** | **747** | | Net Cash Used in Financing Activities | **(5,162)** | **(4,857)** | | Net Increase/(Decrease) in Cash and Cash Equivalents | **56,706** | **(3,675)** | | Cash and Cash Equivalents at End of Year | **152,105** | **95,399** | [Notes to the Consolidated Financial Statements](index=48&type=section&id=%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8%E9%99%84%E8%A8%BB) The notes to the financial statements detail the significant accounting policies adopted and provide breakdowns and explanations for key items, including segment information, revenue recognition, directors' emoluments, trade receivables, related party transactions, and the share option scheme, offering essential context and details for understanding the financial statements - The Group's operating segments are solely the provision of information technology infrastructure solutions and finance lease income, with primary revenue derived from Hong Kong[370](index=370&type=chunk)[373](index=373&type=chunk) - Government grants of **HKD 4.503 million** included in other income originated from the Hong Kong Government's 'Employment Support Scheme'[378](index=378&type=chunk) - As of March 31, 2021, total trade receivables amounted to **HKD 83.892 million**, with an impairment allowance of **HKD 0.15 million** recognized[428](index=428&type=chunk)[431](index=431&type=chunk) - Post-reporting period events disclose that the company is in discussions regarding a potential acquisition of companies providing IT infrastructure management services in Greater China and the Asia Pacific region[520](index=520&type=chunk)

Financial Performance - Revenue for the nine months ended December 31, 2020, increased by approximately 15.4% to about HKD 391.2 million compared to the same period in 2019[12] - Gross profit for the third quarter of the fiscal year 2021 increased by approximately 21.3% to about HKD 50.9 million compared to the third quarter of the fiscal year 2020[12] - Profit and total comprehensive income for the third quarter of the fiscal year 2021 increased by approximately 119.3% to about HKD 16.0 million compared to the same quarter in the previous year[12] - Adjusted profit attributable to owners of the company for the third quarter of the fiscal year 2021 increased by approximately 57.4% to HKD 11.5 million after deducting government subsidies of HKD 4.5 million[12] - Earnings per share for the third quarter of the fiscal year 2021 increased by approximately 119.3% to about HKD 1.99 compared to approximately HKD 0.91 in the same quarter of the previous year[12] - Total comprehensive income for the nine months ended December 31, 2020, was HKD 15.95 million, compared to HKD 7.27 million for the same period in 2019[18] - The company reported a profit attributable to owners of HKD 15,952,000 for the nine months ended December 31, 2020, compared to HKD 7,274,000 for the same period in 2019, indicating a significant increase in profitability[44] - The company’s total equity as of December 31, 2020, was HKD 116.14 million, an increase from HKD 95.57 million as of March 31, 2020[18] Revenue Breakdown - Revenue from the private sector increased by approximately 9.0% from HKD 164.8 million in Q3 2020 to HKD 179.6 million in Q3 2021, accounting for 45.9% of total revenue[49] - Revenue from the public sector increased by approximately 21.5% from HKD 174.2 million in Q3 2020 to HKD 211.6 million in Q3 2021, representing 54.1% of total revenue[50] - The total revenue for the nine months ended December 31, 2020, was HKD 391,213,000, compared to HKD 338,966,000 for the same period in 2019, representing a year-on-year growth of approximately 15.4%[29] - The company’s revenue from information technology infrastructure solutions and finance leasing for the nine months ended December 31, 2020, was HKD 391,145,000, compared to HKD 338,804,000 in the previous year[38] Profitability and Margins - The company reported a gross profit margin improvement, reflecting better cost management and operational efficiency[12] - Gross profit in the private sector rose by approximately 19.6% from HKD 23.1 million in Q3 2020 to HKD 27.6 million in Q3 2021, with a gross margin of 15.4%, up 1.4 percentage points[49] - Gross profit in the public sector increased by approximately 23.4% from HKD 18.9 million in Q3 2020 to HKD 23.3 million in Q3 2021, with a gross margin of 11.0%, up 0.1 percentage points[50] - Gross profit for the group increased by approximately 21.3% from HKD 42.0 million in Q3 2020 to HKD 50.9 million in Q3 2021, with a gross margin of 13.0%, up 0.6 percentage points[60] Strategic Focus and Development - The company continues to focus on expanding its information technology infrastructure solutions in Hong Kong and Macau markets[21] - The company plans to focus on strategic development in multi-cloud, hybrid cloud, container technology, and cybersecurity to enhance value for clients[54] - The company aims to explore suitable acquisition opportunities to enhance corporate value while maintaining a prudent approach[55] Shareholder Information - Major shareholders include Mr. Zhu with 226,890,000 shares (28.4%), Mr. Liu with 100,000,000 shares (12.5%), and Mr. Huang with 53,300,000 shares (6.7%) as of December 31, 2020[72] - The company has a stock option plan approved by shareholders on March 15, 2016, which became effective from the listing date[84] - The company granted stock options totaling 15,900,000 shares at an exercise price of HKD 0.111 per share, with the options exercisable from April 15, 2020, to April 14, 2029[85] Governance and Compliance - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2020, and found them compliant with applicable accounting standards and regulations[105] - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with GEM listing rules[103] - The board believes that good corporate governance is essential for effective management and successful business development[104] - The board of directors includes a mix of executive and non-executive members, ensuring diverse oversight and governance[108] Employee and Stakeholder Relations - The company expressed gratitude to all employees for their contributions and to shareholders, customers, suppliers, and partners for their support during the reporting period[108]

5 E X P E R T EXPERT SYSTEMS HOLDINGS LIMITED 思博系統控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號：8319 香港聯合交易所有限公司(「聯交所」) GEM 的特色 GEM 的定位,乃為中小型公司提供一個上市的市場,此等公司相比魁其他在聯交所上市的公 司帶有較高投資風險。有意投資的人士釀了解投資於該等公司的潛在風險,並應經過審價周 詳的考慮後方作出投資決定。 由於 GEM 上市 公司普鍾為中小型公司,在 GEM 買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險,同時無法保證在 GEM 買賣的證券會有高流通量的市場· 香港交易及結算所有限公司及聯交所對本報告的內容概不負責,對其準確性或完整性亦不發 表任何聲明·並明確表示概不會就因本報告全部或任何部分內容而產生或因依賴該等內容而 引致之任何損失承擔任何責任。 本報告的資料乃遵照聯交所GEM證券上市規則(「GEM上市規則J)而刊載·旨在提供有關思 博系統控股有限公司(「本公司」)的資料。本公司的董事(「董事」)願就本報告的資料共同及個 別地承擔全部責任。各董事在作出一切合理查詢後 ·確認就其所知及所 ...

Financial Performance - For the three months ended June 30, 2020, the company reported revenue of HKD 125,641,000, an increase of 14.2% compared to HKD 109,995,000 in the same period of 2019[4] - Gross profit for the same period was HKD 16,645,000, up 22.4% from HKD 13,608,000 year-on-year[4] - The net profit for the period was HKD 3,876,000, representing a 56.6% increase from HKD 2,477,000 in the previous year[4] - Basic earnings per share increased to HKD 0.48 from HKD 0.31, reflecting a growth of 54.8%[4] - The total comprehensive income for the period was HKD 3,876,000, compared to HKD 2,477,000 in the previous year, showing a growth of 56.6%[4] - Basic earnings per share for the three months ended June 30, 2020, were HKD 3,876,000, compared to HKD 2,477,000 for the same period in 2019[33] - The profit attributable to the company's owners increased by approximately 56.4% from about HKD 2.5 million in Q1 2020 to approximately HKD 3.9 million in Q1 2021[59] - Basic and diluted earnings per share for Q1 2021 were approximately HKD 0.48, an increase of about HKD 0.17 or approximately 56.4% compared to about HKD 0.31 in Q1 2020[60] Expenses - The company incurred sales expenses of HKD 9,378,000, which is a 19.0% increase from HKD 7,883,000 in the prior year[4] - Administrative expenses were HKD 2,896,000, slightly up from HKD 2,837,000, indicating a 2.1% increase[4] - Selling expenses increased by approximately 19.0% to about HKD 9.4 million in Q1 2021 from approximately HKD 7.9 million in Q1 2020, primarily due to higher employee costs[52] - Administrative expenses rose by about 2.1% to approximately HKD 2.9 million in Q1 2021 compared to about HKD 2.8 million in Q1 2020, also driven by increased employee costs[53] Revenue Sources - A single customer contributed 25.6% of the total revenue during the reporting period, compared to no single customer contributing 10% or more in 2019[19] - Revenue from the public sector decreased by approximately 6.3%, from HKD 61.1 million in Q1 2020 to HKD 57.2 million in Q1 2021[41] - The group's revenue increased by approximately 14.2% from about HKD 110.0 million in Q1 2020 to approximately HKD 125.6 million in Q1 2021, driven by higher demand for IT infrastructure solutions[50] Other Income - The company recognized other income and gains of HKD 420,000, compared to HKD 171,000 in the same period last year, marking a significant increase of 145.0%[4] - The company reported total other income and gains of HKD 420,000 for the three months ended June 30, 2020, compared to HKD 171,000 in 2019[23] - Other income and gains rose from approximately HKD 0.2 million in Q1 2020 to about HKD 0.4 million in Q1 2021, marking an increase of approximately 145.6%[52] Equity and Shareholder Information - The company’s total equity as of June 30, 2020, was HKD 107,479,000, an increase from HKD 103,512,000 at the end of the previous quarter[7] - Major shareholders include Luk Yuen Wah Nancy with 28.4% and Keung Lai Wa Dorathy Linndia with 12.8% ownership[70] - The company has a total of 91,800,000 shares held by Mr. Mo, representing 11.5% of the total shares[70] - The total number of shares held by Lee Kit Ling Monita is 51,800,000, accounting for 6.5% of the total shares[70] Corporate Governance - The company has adopted a code of conduct for directors' securities trading, compliant with GEM listing rules[94] - There were no reported conflicts of interest involving directors or major shareholders in competing businesses during the first quarter of the 2021 fiscal year[91] - The company does not have any knowledge of non-compliance with trading regulations by directors during the first quarter of the 2021 fiscal year[94] - The company has adhered to the corporate governance code as per GEM listing rules for the fiscal year 2021 Q1, with some deviations disclosed[95] - The audit committee reviewed the unaudited consolidated financial statements for the three months ending June 30, 2020, and confirmed compliance with applicable accounting standards and GEM listing rules[96] Strategic Focus - The company continues to focus on providing IT infrastructure solutions and financing leasing income as its main operational segments[16] - The company has adjusted its short-term business priorities to respond to changing customer demands and seize new opportunities[45] - The company continues to focus on long-term strategic development and growth in technology participation[45] - The group aims to strategically develop its services to mitigate the impacts of the uncertain business environment and adapt to post-COVID-19 conditions[47] - The company is committed to exploring suitable acquisition opportunities to enhance corporate value while maintaining a prudent approach[46] Economic Environment - The economic environment is challenging due to the ongoing global pandemic and geopolitical tensions, which may negatively impact the company's performance[42] Stock Options - As of June 30, 2020, the total number of unexercised stock options under the plan is 15,900,000[76] - The exercise price for stock options granted on April 15, 2019, is HKD 0.111 per share[79] - The stock options granted are exercisable in five tranches, with 20% available for exercise each year from 2020 to 2024[80][88] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the first quarter of the 2021 fiscal year[90] Employee Acknowledgment - The board expresses gratitude to all employees for their contributions and efforts during the reporting period[100]

U E X P E R T EXPERT SYSTEMS HOLDINGS LIMITED 思博系統控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號 ：8319 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司帶有較高投資風險。有意 投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受較大的市場波動風險，同時 無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概 不會就因本報告全部或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 本年報的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關思博系統控股有限公司（「本公司」） 的資料。本公司董事（「董事」）願就本年報的資料共同及個別地承擔全部責任。各董事在作出一切合理查詢後，確認就彼 等所知及所信，本年報所載資料在各重 ...

E X P E R T EXPERT SYSTEMS HOLDINGS LIMITED 思博系統控股有限公司 (於開曼群島註冊成立的有限公司) 股份代號:8319 2019/20 第三季度業績報告 香港聯合交易所有限公司(「聯交所」) GEM 的特色 GEM 的定位,乃為中小型公司提供一個上市的市場,此等公司相比超其他在主板上市的公司 帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險,並應經過審價周詳 的考慮後方作出投資決定。 由於 GEM 上市 公司普鍾為中 小型公司,在 GEM 買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險,同時無法保證在GEM 買賣的證券會有高流通量的市場· 香港交易及結算所有限公司及聯交所對本報告之內容概不負責,對其準確性或完整性亦不發 表任何聲明,並明確表示概不就因本報告全部或任何部分內容而產生或因依賴該等內容而引 致之任何損失承擔任何責任。 本報告的資料乃遵照聯交所GEM證券上市規則(ΓGEM上市規則)而刊載·旨在提供有關思 博系統控股有限公司(「本公司」）的資料・本公司的董事（「董事」）願就本報告的資料共同及個 別地承擔全部責任。各董事在作出一切合理查 ...

EXPERT SYSTEMS HOLDINGS LIMITED 思博系統控股有限公司 (Incorporated in the Cayman Islands with limited liability) Stock Code ：8319 2019/20 Interim Report EXPERT SYSTEMS HOLDINGS LIMITED 思博系統控股有限公司 （於開曼群島註冊成立的有限公司） 股份代號：8319 2019/20 中期業績報告 香港聯合交易所有限公司(「聯交所」) GEM 的特色 GEM 的定位,乃為中小型公司提供一個上市的市場,此等公司相比魁其他在聯交所上市的公 司帶有較高投資風險。有意投資的人士釀了解投資於該等公司的潛在風險,並應經過審價周 詳的考慮後方作出投資決定。 由於 GEM 上市 公司普鍾為中 小型公司,在 GEM 買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險,同時無法保證在GEM 買賣的證券會有高流通量的市場· 香港交易及結算所有限公司及聯交所對本報告之內容概不負責,對其準確性或完整性亦不發 表任何聲明,並明確表示概不就因本報告全部或任何部分內容而產生或因依 ...