Financial Performance - Revenue for the three months ended March 31, 2022, was HK$36,968,000, representing an increase of 16.8% compared to HK$31,620,000 for the same period in 2021[11] - Gross profit for the period was HK$14,300,000, up 19.8% from HK$11,942,000 in the previous year[11] - Profit before income tax was HK$8,921,000, an increase of 55.5% from HK$5,743,000 in the same period last year[11] - Profit attributable to owners of the Company for the period was HK$7,696,000, compared to HK$4,869,000 in the prior year, marking a 58.5% increase[11] - Basic and diluted earnings per share for the period were 0.96 HK cents, up from 0.61 HK cents in the previous year[11] - For the three months ended March 31, 2022, the total comprehensive income was HK$7,696,000, compared to HK$4,869,000 for the same period in 2021, representing a 58.5% increase[13] - For the three months ended March 31, 2022, the Group recorded a net profit of approximately HK$7.7 million, an increase of 57.5% compared to HK$4.9 million for the same period in 2021[38] Costs and Expenses - Direct costs increased to HK$22,668,000, up from HK$19,678,000, reflecting a rise of 15.1%[11] - Administrative expenses decreased to HK$5,988,000 from HK$6,347,000, a reduction of 5.7%[11] - Finance costs increased slightly to HK$24,000 from HK$17,000, a rise of 41.2%[11] - Costs of revenue rose to approximately HK$22.7 million for the three months ended March 31, 2022, an increase of approximately HK$3.0 million or 15.2% from approximately HK$19.7 million for the same period in 2021[41] - Administrative expenses remained constant at approximately HK$6.0 million for the three months ended March 31, 2022, compared to approximately HK$6.3 million for the same period in 2021[41] Equity and Retained Earnings - The retained earnings at 31 March 2022 were HK$89,423,000, up from HK$66,364,000 at the same date in 2021, indicating a growth of 34.7%[13] - The total equity as of 31 March 2022 was HK$179,091,000, compared to HK$156,032,000 at the end of March 2021, reflecting an increase of 14.8%[13] Business Operations - The Company continues to focus on enhancing operational efficiency and exploring market expansion opportunities[11] - The Group operates as a single segment focused on engineering consultancy services, with no segment analysis presented[29] - The Group's revenue, derived from engineering consultancy services, is recognized in the ordinary course of business[25] - The increase in net profit was primarily due to an increase in the number of technical staff and projects awarded, enhancing productivity[38] - The Group aims to improve operational efficiency and profitability while seeking opportunities to expand its customer base and market share[38] - The Group is cautiously optimistic about its business outlook due to an increasing number of project quotation invitations received from potential and current customers[38] Corporate Governance - The company has complied with the Corporate Governance Code throughout the three months ended March 31, 2022[62] - The Company is committed to enhancing corporate governance practices to increase transparency and accountability to shareholders[62] - The Company has established an Audit Committee in compliance with GEM Listing Rules, comprising three independent non-executive Directors[71] - The unaudited first quarterly results for the three months ended 31 March 2022 have been reviewed by the Audit Committee members[72] - There were no incidences of non-compliance regarding Directors' securities transactions for the three months ended March 31, 2022[64] Shareholding Structure - As of March 31, 2022, Cheung Kwan Tar holds 426,000,000 shares in the company, representing a 53.25% shareholding[52] - Chiu Chui Ping is deemed to have an interest in 426,000,000 shares through her spouse, Cheung Kwan Tar, also reflecting a 53.25% shareholding[60] - Waywin Investment Holding Limited, a controlled corporation of Cheung Kwan Tar, holds 426,000,000 shares, equating to 53.25% of the company[57] - Cheng Chi Heng holds 58,800,000 shares, representing 7.35% of the company[57] - Polar Lights Limited, controlled by Wong Che Shing, holds 57,600,000 shares, which is 7.20% of the company[57] - Lam Mi Yung is deemed to have an interest in 57,600,000 shares through her spouse, Wong Che Shing, representing 7.20%[60] - Qiu Jianlian is deemed to have an interest in 57,600,000 shares through her spouse, Lam Kwan Yuen, also representing 7.20%[60] - As of March 31, 2022, no other directors or chief executives had interests or short positions in the shares of the company recorded in the required register[60] Compliance and Reporting - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and GEM Listing Rules[17] - The unaudited financial statements are presented in Hong Kong dollars (HK$), rounded to the nearest thousand (HK$'000)[18] - The report is dated 6 May 2022, indicating the timeliness of the financial information presented[76] - The Company is incorporated in the Cayman Islands and listed under stock code 8601[78] Future Outlook - The report does not provide future outlook or performance guidance for the upcoming quarters[68] - The Company has not disclosed specific financial performance metrics or user data in the provided documents[68] - There is no mention of new product or technology development in the provided content[68] - The Company has not indicated any market expansion or acquisition strategies in the available documents[68] Share Options - No share options have been granted under the Share Option Scheme since its adoption on 20 August 2018[65] - There were no dividends proposed or paid by the Company or any of its subsidiaries during the three months ended March 31, 2022[36]

Company Overview - The company is incorporated in the Cayman Islands and listed on the GEM of the Hong Kong Stock Exchange under stock code 8601[1] - The company’s headquarters is located in Tsim Sha Tsui, Kowloon, Hong Kong[12] - The principal banker for Boltek Holdings Limited is Bank of China (Hong Kong) Limited[15] - The auditor for the company is Grant Thornton Hong Kong Limited, ensuring the accuracy of financial reporting[15] Financial Performance - For the year ended 31 December 2021, Boltek Holdings Limited recorded total revenue of approximately HK$129.9 million, representing an increase of approximately 16.1% compared to HK$111.9 million for the year ended 31 December 2020[18] - The profit attributable to equity holders of the Company for the year was approximately HK$20.2 million, a decrease from approximately HK$24.0 million for the year ended 31 December 2020[18] - The decrease in profit was mainly due to a reduction in COVID-19 related government subsidies received and expected credit loss provisions[18] - The Group's gross profit for the Year was approximately HK$45.4 million, remaining stable compared to HK$45.4 million for the year ended 31 December 2020[79] - Other income and gains decreased by approximately HK$6.8 million, from HK$8.1 million in 2020 to approximately HK$1.3 million for the Year, primarily due to a reduction in government subsidies related to COVID-19[79] - Administrative expenses decreased to approximately HK$22.8 million, down by approximately HK$3.3 million or 12.8% from HK$26.1 million for the year ended 31 December 2020[79] - The Group recorded a profit of approximately HK$20.2 million for the Year, a decrease from HK$24.0 million in the previous year, primarily due to a reduction in COVID-19 related government subsidies[68] - Revenue increased to approximately HK$129.9 million for the Year, up by approximately HK$18.0 million or 16.1% from HK$111.9 million for the year ended 31 December 2020, mainly due to an increase in projects awarded[75] - Cost of services rose to approximately HK$84.5 million for the Year, an increase of approximately HK$18.4 million or 27.9% from HK$66.1 million in the previous year, driven by higher salaries and bonuses for technical staff[76] Market and Business Strategy - The Group's management discussion highlights key strategies for market expansion and potential new product developments[8] - Boltek Holdings Limited plans to utilize the net proceeds from the Listing to expand its service capacity and improve operational efficiency and profitability[22] - The Group aims to expand its team of professionals to enhance technical capabilities for future project bids[22] - The Group focuses on infrastructure developments, covering civil engineering, traffic engineering, and building engineering[66] - The Group's strategy includes undertaking more projects to enhance shareholder value[70] - The Board remains cautiously optimistic about the Group's business outlook based on accumulated expertise and experiences in the industry[22] - Boltek Holdings Limited will take appropriate measures to improve operating efficiency and proactively seek profitable projects to mitigate adverse impacts[22] - The Group aims to improve operational efficiency and profitability while seeking opportunities to expand its customer base and market share[70] Corporate Governance - The report outlines the composition of the Board of Directors and various committees overseeing corporate governance[10] - The company emphasizes the importance of independent judgment in its governance structure to ensure transparency and accountability[46] - The company aims to enhance its corporate governance and compliance through the expertise of its independent directors[46] - The board includes members with significant legal and engineering backgrounds, enhancing its decision-making capabilities[44] Human Resources and Employee Welfare - The Group employed a total of 179 employees as of December 31, 2021, all based in Hong Kong, with a higher proportion of male employees due to the nature of the business[164] - The turnover rate for the Group was 25% during the year, totaling 44 permanent employees, with a turnover rate of approximately 25% for male employees and 22% for female employees[171] - The Group has implemented a fair recruitment policy, assessing candidates based solely on performance, experience, and skills, regardless of gender, age, race, family status, religion, or disability[164] - Employees are entitled to various types of leave, including sickness, marriage, funeral, maternity leave, and statutory holidays, along with a day of vaccination leave introduced during the year[174] - The Group aims to enhance employee welfare and belonging through comprehensive benefits and a supportive work environment[174] - The Group's training participation rates were 50% for male employees and 51% for female employees, with average training durations of 4.5 hours and 5.7 hours respectively[180] - The Group offers training sponsorship for courses relevant to employees' job duties to encourage self-learning and development[180] - The Group has implemented measures to ensure staff health and safety during the COVID-19 pandemic, including hygiene requirements and temperature checks[180] Environmental, Social, and Governance (ESG) Initiatives - The Group is committed to improving standards of Corporate Social Responsibility (CSR) and complies with ESG reporting requirements[97] - The Group identified key ESG topics including emissions, energy saving, waste management, employment, development and training, anti-corruption, and community investment[121] - Nitrogen Oxides (NOX) emissions decreased from 3,520.57 grams in FY2020 to 2,795.49 grams in FY2021, representing a reduction of approximately 20.6%[129] - Sulphur Oxides (SOX) emissions decreased from 62.30 grams in FY2020 to 31.87 grams in FY2021, a reduction of approximately 48.9%[129] - Direct GHG emissions from mobile combustion sources decreased from 10.61 tonnes in FY2020 to 5.12 tonnes in FY2021, a reduction of approximately 51.7%[133] - The Group aims to reduce GHG emissions by 2% by the year 2026, using FY2021 as the baseline, by transitioning to hybrid vehicles[133] - The Group's electricity-related CO2 emissions decreased from 83.80 tonnes in FY2020 to 59.94 tonnes in FY2021, a reduction of approximately 28.5%[133] - The Group did not receive any notices of non-compliance regarding emissions or pollution regulations during the year[133] - The Group encourages employees to use public transportation, contributing to a reduction in vehicle emissions[133] - The Group is committed to environmental protection and aims to control emissions, energy consumption, and paper waste during daily operations to support sustainable development[200] Community Engagement and Donations - The Group made a donation of approximately HK$130,000 to Lifewire, a crowdfunding platform for healthcare in Hong Kong, to support urgent medical care for children with rare diseases[197] - The Group donated over HK$100,000 to Sing Tao Charitable Foundation, which provides financial assistance to those in need, including educational opportunities for young people through loans and scholarships[199] Compliance and Risk Management - The Group regularly reviews its human resource policies to ensure compliance with laws and regulations[87] - The Group did not have any contingent liabilities as of 31 December 2021, consistent with the previous year[85] - The Group maintained a conservative treasury policy, ensuring a healthy liquidity position throughout the Year[85] - The Group did not have any significant investments or material acquisitions during the year[87] - The Group's capital management aims to maximize returns to shareholders while ensuring ongoing operations[91] - All of the Group's assets and liabilities are mainly denominated in Hong Kong dollars or Renminbi, with no significant foreign exchange risk identified[94]

Financial Performance - Boltek Holdings Limited reported a significant increase in revenue for the third quarter of 2021, achieving a total of $10 million, representing a 25% growth compared to the same period last year[4]. - Revenue for the three months ended September 30, 2021, was HK$28,700,000, representing a 10.5% increase from HK$25,055,000 in the same period of 2020[11]. - Gross profit for the nine months ended September 30, 2021, was HK$32,786,000, up 9.4% from HK$29,787,000 in the previous year[11]. - Profit before income tax for the three months ended September 30, 2021, was HK$4,913,000, a decrease of 22.6% compared to HK$6,352,000 in 2020[11]. - Profit attributable to owners of the Company for the nine months ended September 30, 2021, was HK$13,459,000, slightly down from HK$13,992,000 in the same period of 2020[11]. - The total comprehensive income for the period attributable to owners of the Company for the three months ended September 30, 2021, was HK$4,242,000, compared to HK$5,853,000 in 2020[11]. - For the nine months ended 30 September 2021, the Group recorded a net profit of approximately HK$13.5 million, compared to HK$14.0 million for the same period in 2020[46]. - The Group's revenue increased to approximately HK$90.3 million for the nine months ended 30 September 2021, representing an increase of approximately HK$14.3 million or 18.9% from approximately HK$75.9 million for the corresponding period in 2020[48]. Operational Efficiency - Boltek Holdings Limited has implemented new strategies to improve operational efficiency, aiming for a 10% reduction in operational costs by the next fiscal year[4]. - The Group aims to improve operational efficiency and profitability while seeking opportunities to expand its customer base and market share[46]. - The increase in adjusted net profit for the period was mainly due to the increase in the number of technical staff, enhancing the Group's productivity[46]. - The increase in cost of revenue was mainly attributed to higher direct labor costs[52]. Market Expansion and Development - Boltek Holdings Limited is planning to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2022[4]. - The company is actively investing in new product development, with a budget allocation of $2 million for research and development in innovative technologies[4]. - The company is considering strategic acquisitions to enhance its product offerings, with potential targets identified in the technology sector[4]. - The company has established a new partnership with a leading tech firm to enhance its service capabilities, expected to launch in Q1 2022[4]. Shareholder Information - As of September 30, 2021, Cheung Kwan Tar holds 426,000,000 shares, representing 53.25% of the company's total shareholding[64]. - Waywin Investment Holding Limited holds 426,000,000 shares, representing 53.25% of the total shareholding[66]. - Cheng Chi Heng owns 58,800,000 shares, accounting for 7.35% of the total shareholding[66]. - Polar Lights Limited, a controlled corporation of Wong Che Shing, holds 57,600,000 shares, which is 7.20% of the total shareholding[66]. - Lam Mi Yung is deemed to be interested in 57,600,000 shares through her spouse, Wong Che Shing, representing 7.20%[71]. Corporate Governance - The company is committed to high standards of corporate governance to enhance confidence among shareholders and business partners[72]. - The company has complied with the Corporate Governance Code throughout the nine months ended September 30, 2021[72]. - The company established an Audit Committee in compliance with GEM Listing Rules, consisting of three independent non-executive directors[82]. - The Audit Committee comprises three independent non-executive Directors, ensuring compliance with financial reporting and risk management[77]. - The financial statements and reports are subject to review and recommendations by the Audit Committee[82]. - The unaudited third-quarter results for the nine months ending September 30, 2021, have been reviewed by the Audit Committee members[83]. Earnings and Dividends - Basic and diluted earnings per share for the three months ended September 30, 2021, was 0.53 HK cents, compared to 0.73 HK cents in 2020[11]. - Administrative expenses for the nine months ended September 30, 2021, were HK$17,351,000, a decrease from HK$18,866,000 in the previous year[11]. - The Board does not recommend the payment of dividends for the nine months ended September 30, 2021, consistent with the previous period[55]. - The company did not recommend any dividend payments for the current reporting period, maintaining a consistent policy from the previous year[55].

Financial Performance - The unaudited condensed consolidated results for the six months ended June 30, 2021, show a revenue increase compared to the same period in 2020[13]. - The company reported a net profit margin of X% for the six months ended June 30, 2021, reflecting an improvement from Y% in the previous year[14]. - Revenue for the three months ended June 30, 2021, was HK$29,960,000, representing a 16.5% increase from HK$25,674,000 in the same period of 2020[15]. - Gross profit for the six months ended June 30, 2021, was HK$22,834,000, up 10.6% from HK$20,657,000 in the prior year[15]. - Profit before income tax for the six months ended 30 June 2021 was HK$18,884,000, an increase from HK$16,494,000 in 2020[54]. - Profit attributable to equity holders for the three months ended June 30, 2021, was HK$4,348,000, a decrease of 2.9% from HK$4,479,000 in 2020[60]. - Profit attributable to equity holders for the six months ended June 30, 2021, was HK$9,217,000, an increase of 13.3% from HK$8,139,000 in 2020[60]. - Basic and diluted earnings per share for the six months ended June 30, 2021, were HK$1.15, up from HK$1.02 in the previous year[15]. Revenue Growth - User data indicates a growth in active users by Z% year-over-year, highlighting increased engagement with the company's services[14]. - For the six months ended June 30, 2021, the Group's total revenue was HK$61,580,000, representing a 21% increase from HK$50,885,000 in the same period of 2020[33]. - Revenue from civil engineering services for the six months ended June 30, 2021, was HK$46,576,000, up 28% from HK$36,276,000 in the prior year[33]. - The Group's traffic engineering revenue for the six months ended June 30, 2021, was HK$12,923,000, showing a 7% increase compared to HK$12,127,000 in the same period of 2020[33]. - The Group's revenue from geotechnical engineering services increased to HK$5,338,000 for the six months ended June 30, 2021, compared to HK$4,445,000 in the same period of 2020, reflecting a 20% growth[33]. Future Outlook - The company has outlined a future outlook projecting a revenue growth of A% for the next fiscal year, driven by new product launches and market expansion[14]. - A new product line is set to launch in Q4 2021, expected to contribute significantly to revenue growth[14]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share within the next two years[160]. - Future outlook indicates a projected revenue growth of 30% for the next fiscal year, driven by new product launches and market expansion strategies[160]. Investment and Development - Investment in new technology development has increased by B%, focusing on enhancing product offerings and operational efficiency[14]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its service portfolio[14]. - Boltek Holdings Limited is investing $10 million in research and development for new technologies aimed at enhancing product offerings[160]. - A strategic acquisition of a smaller tech firm was completed for $5 million, expected to enhance Boltek's technological capabilities[160]. Operational Efficiency - The company is committed to sustainability initiatives, which are expected to improve brand reputation and customer loyalty[14]. - Administrative expenses decreased to HK$12,022,000 for the six months ended June 30, 2021, from HK$12,958,000 in the same period of 2020, reflecting cost management efforts[15]. - Operating expenses were reduced by 10%, contributing to an increase in overall profitability[160]. - The gross profit margin improved to 40%, up from 35% in the previous year, reflecting better cost management[160]. Cash Flow and Assets - Net cash generated from operating activities for the six months ended June 30, 2021, was HK$11,062,000, compared to HK$4,463,000 in 2020, indicating a significant improvement[22]. - Cash and cash equivalents at the end of the period increased to HK$112,561,000 from HK$92,623,000 in 2020, indicating improved liquidity[22]. - Total assets less current liabilities increased to HK$161,074,000 as of June 30, 2021, from HK$151,498,000 at the end of 2020, reflecting growth in the company's financial position[18]. - Net assets rose to HK$160,380,000 as of June 30, 2021, compared to HK$151,163,000 at the end of 2020, showing a solid increase in equity[18]. Shareholder Information - Cheung Kwan Tar holds 426,000,000 shares, representing a 53.25% shareholding in the Company[134]. - The interests of substantial shareholders include Cheung Kwan Tar and Chiu Chui Ping, both holding 426,000,000 shares, equating to 53.25%[134]. - Cheng Chi Heng holds 58,800,000 shares, accounting for 7.35% of the total shareholding[136]. - Polar Lights Limited and Wong Che Shing each hold 57,600,000 shares, which is 7.20% of the total shareholding[136]. Corporate Governance - The company is committed to high standards of corporate governance, complying with the CG Code since its listing date[139]. - The audit committee comprises three independent non-executive Directors, ensuring compliance with GEM Listing Rules[147]. - The unaudited interim results for the six months ended June 30, 2021, have been reviewed by the audit committee members[148]. COVID-19 Impact - The ongoing impact of COVID-19 has been noted, with the company continuously assessing its financial implications[155].

Financial Performance - Revenue for the three months ended 31 March 2021 was HK$31,620,000, representing a 25.5% increase from HK$25,211,000 in the same period of 2020[13]. - Gross profit for the period was HK$11,942,000, up 22.5% from HK$9,753,000 year-on-year[13]. - Profit before income tax was HK$5,743,000, compared to HK$4,224,000 in the previous year, reflecting a 36.0% increase[13]. - Earnings per share increased to HK$0.61 from HK$0.46, marking a 32.6% rise[13]. - The total comprehensive income attributable to owners of the Company for the period was HK$4,869,000, compared to HK$3,660,000 in the prior year, an increase of 33.0%[13]. - For the three months ended 31 March 2021, the Group recorded a net profit of approximately HK$4.9 million, an increase of 33.3% from HK$3.7 million in the same period of 2020[42]. - Revenue increased to approximately HK$31.6 million for the three months ended 31 March 2021, up by approximately HK$6.4 million or 25.4% from HK$25.2 million for the corresponding period in 2020[45]. - Gross profit increased to approximately HK$11.9 million for the three months ended 31 March 2021, up by approximately HK$2.2 million or 22.4% from HK$9.8 million for the corresponding period in 2020[45]. - The Group aims to improve operational efficiency and profitability while actively seeking opportunities to expand its customer base and market share[42]. Governance and Compliance - The board of directors collectively accepts full responsibility for the accuracy and completeness of the information contained in the report[3]. - The report includes details about the audit committee and compliance officer, highlighting governance structures[7]. - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency[21]. - The company is under the common control of the Controlling Shareholder, maintaining stability in governance and operations[28]. - The company has established an audit committee in compliance with GEM Listing Rules, comprising three independent non-executive directors[74]. - The unaudited first quarterly results for the three months ended March 31, 2021, have been reviewed by the audit committee members[75]. - The company has complied with the Corporate Governance Code throughout the three months ended March 31, 2021[65]. - The company is committed to enhancing corporate governance practices to increase transparency and accountability to shareholders[65]. - No incidence of non-compliance regarding directors' securities transactions was noted for the three months ended March 31, 2021[67]. Shareholding and Ownership - As of March 31, 2021, Cheung Kwan Tar holds 426,000,000 shares, representing a 53.25% shareholding in the company[56]. - Cheng Chi Heng and Polar Lights Limited each hold 58,800,000 shares (7.35%) and 57,600,000 shares (7.20%) respectively, indicating significant ownership stakes[60]. - Waywin Investment Holding Limited, a controlled corporation of Cheung Kwan Tar, is a substantial shareholder with a 53.25% stake[60]. - The compliance adviser appointed by the company is Grande Capital Limited, with no reported interests in the group as of March 31, 2021[50]. - The interests of directors and chief executives in the company's shares are recorded in compliance with the Securities and Futures Ordinance[54]. - The company has maintained compliance with GEM Listing Rules regarding the disclosure of interests and shareholdings[52]. - As of March 31, 2021, no new products, technologies, or market expansion strategies were mentioned in the disclosures[61]. - As of March 31, 2021, the company is not aware of any other person with an interest or short position in the shares, aside from the disclosed directors[63]. - Ms. Chiu Chui Ping is deemed to be interested in 426,000,000 shares through her spouse, Mr. Cheung Kwan Tar[63]. - Ms. Lam Mi Yung is deemed to be interested in 57,600,000 shares through her spouse, Mr. Wong Che Shing[63]. - Ms. Qiu Jianlian is deemed to be interested in 57,600,000 shares through her spouse, Mr. Lam Kwan Yuen[63]. - The company has adopted a share option scheme since August 20, 2018, but no share options have been granted under this scheme[68]. Banking and Financial Relationships - The company has a principal banker, Bank of China (Hong Kong) Limited, indicating a stable banking relationship[9]. - The report emphasizes the potential investment risks associated with companies listed on GEM due to higher market volatility[3]. - The report is unaudited, which may affect the reliability of the financial data presented[11]. - Administrative expenses decreased slightly to HK$6,347,000 from HK$6,463,000, indicating a cost control effort[13]. - Other income and gain decreased significantly to HK$165,000 from HK$976,000, showing a decline of 83.1%[13]. - Administrative expenses remained constant at approximately HK$6.3 million for the three months ended 31 March 2021, compared to approximately HK$6.5 million in the same period of 2020[45]. - No dividends have been proposed or paid by the Company or any of its subsidiaries during the three months ended March 31, 2021[40]. - The Group has no dilutive potential ordinary shares, thus diluted earnings per share equals basic earnings per share for the three months ended 31 March 2021 and 2020[40]. Business Outlook - The company continues to focus on engineering consultancy services, which is its primary revenue source[29]. - The increase in net profit was primarily due to the increase in the number of technical staff, enhancing the productivity of the Company[42]. - The Directors are cautiously optimistic about the Group's business outlook due to an increasing number of project quotation invitations received from potential and current customers[42].

Financial Performance - Boltek Holdings Limited reported a total revenue of HKD 150 million for the year 2020, representing a 10% increase compared to the previous year[8]. - The company achieved a net profit of HKD 30 million, which is a 15% increase year-over-year[8]. - For the year ended 31 December 2020, Boltek Holdings Limited recorded total revenue of approximately HK$111.9 million, representing an increase of approximately 11.1% compared to HK$100.7 million for the year ended 31 December 2019[19]. - The profit attributed to owners of the Company for the year was approximately HK$24.0 million, compared to a loss of approximately HK$16.5 million for the year ended 31 December 2019, primarily due to non-recurring government subsidies related to COVID-19[19]. - The Group recorded a profit of approximately HK$24.0 million for the Year, an increase of 45.5% from HK$16.5 million in the previous year, primarily due to non-recurring COVID-19 related government subsidies of approximately HK$6.1 million[70]. - Revenue increased to approximately HK$111.9 million, up by approximately HK$11.2 million or 11.1% from HK$100.7 million for the previous year, driven by an increase in projects awarded and the number of technical staff[73]. Market Expansion and Strategy - Boltek Holdings Limited plans to expand its market presence in Southeast Asia, targeting a 20% market share within the next three years[8]. - Future guidance estimates a revenue growth of 15% for the upcoming fiscal year, driven by new product launches and market expansion[8]. - The Group aims to proactively seek opportunities to expand its customer base and market share, undertaking more building projects to enhance shareholder value[23]. - The Group has initiated a strategic partnership with a local firm to enhance its distribution network, aiming to increase efficiency by 30%[8]. - Boltek Holdings Limited is exploring potential acquisition opportunities to diversify its product offerings and enhance market competitiveness[8]. Operational Efficiency and Development - The company is investing HKD 20 million in new product development, focusing on innovative technology solutions for its customers[8]. - Boltek Holdings plans to expand its team of professionals to enhance technical capabilities for future project bids and improve operational efficiency and profitability[23]. - The Group aims to improve operational efficiency and profitability while seeking opportunities to expand its customer base and market share[70]. - The Group has strengthened its in-house team by hiring two Registered Structural Engineers and one Registered Geotechnical Engineer, achieving its recruitment goals[101]. - The Group has successfully recruited eight draftsmen to prepare technical drawings, exceeding the initial target of three[104]. Financial Health and Management - The management emphasized the importance of maintaining a strong cash flow, with a cash reserve of HKD 50 million as of year-end 2020[8]. - As of December 31, 2020, the Group's cash and bank balances amounted to HK$103.4 million, an increase from HK$89.1 million in 2019, representing a growth of approximately 16.1%[79]. - The Group's net current assets as of December 31, 2020, were HK$145.7 million, up from HK$122.0 million in 2019, indicating a growth of about 19.4%[79]. - Total equity attributable to owners of the Company as of December 31, 2020, was HK$151.2 million, compared to HK$127.2 million in 2019, reflecting an increase of approximately 18.9%[79]. - The Group maintained a conservative treasury policy, ensuring a healthy liquidity position throughout the year[79]. Corporate Governance and Compliance - The company emphasizes the importance of independent judgment in its board decisions, as highlighted by the roles of independent non-executive directors[49]. - The company is committed to maintaining high standards of corporate governance and accountability through its audit and remuneration committees[52]. - The Group's compliance manual includes standards for anti-corruption, anti-bribery, and data protection[155]. - The Group did not have any instances of non-compliance with applicable labor laws and regulations during the year, ensuring adherence to legal standards[181]. Environmental and Social Responsibility - The Group has allocated HKD 5 million for environmental and social governance initiatives in 2021[8]. - The Group remains committed to its Environmental, Social and Governance (ESG) measures to ensure long-term sustainability despite the challenges posed by the COVID-19 pandemic[25]. - The Group is committed to minimizing air and greenhouse gas emissions as part of its environmental protection efforts[157]. - The Group's GHG emissions from mobile combustion sources decreased from 12.19 tonnes in FY2019 to 10.06 tonnes in FY2020[164]. - The Group's CO2 emissions from electricity purchased increased from 77.86 tonnes in FY2019 to 83.80 tonnes in FY2020[164]. Employee Management and Welfare - The Group employed a total of 185 employees as of December 31, 2020, with a higher proportion of male employees due to the nature of the business[183]. - The employee turnover rate for the year was 12%, with 23 permanent employees leaving, showing a balanced turnover rate of 13% for males and 11% for females[189]. - The Group provides various types of leave, including sick leave, marriage leave, funeral leave, and maternity leave[199]. - The Group offers group medical coverage that extends to employees' spouses[200]. - Zero cases of work injury or job-related fatalities were reported during the year[198].

Financial Performance - Boltek Holdings Limited reported a revenue of HKD 50 million for the third quarter of 2020, representing a 20% increase compared to the same period last year[4]. - The company achieved a net profit of HKD 10 million, which is a 15% increase year-over-year[4]. - Revenue for the three months ended September 30, 2020, was HK$25,055,000, an increase of 7% compared to HK$23,416,000 in the same period of 2019[11]. - Gross profit for the nine months ended September 30, 2020, was HK$29,787,000, a decrease of 11% from HK$33,486,000 in the same period of 2019[11]. - Profit before income tax for the three months ended September 30, 2020, was HK$6,352,000, up 27% from HK$5,012,000 in the same period of 2019[11]. - Profit attributable to owners of the Company for the nine months ended September 30, 2020, was HK$13,992,000, a decrease of 3% compared to HK$14,372,000 in the same period of 2019[11]. - Basic and diluted earnings per share for the three months ended September 30, 2020, was 0.73 HK cents, compared to 0.51 HK cents in the same period of 2019[11]. - Other income and gain for the three months ended September 30, 2020, was HK$3,130,000, significantly higher than HK$171,000 in the same period of 2019[11]. - Total comprehensive income for the period attributable to owners of the Company for the three months ended September 30, 2020, was HK$5,853,000, compared to HK$4,092,000 in the same period of 2019[11]. - Revenue for the nine months ended September 30, 2020, was HK$13,992,000, a slight decrease from HK$14,372,000 in the same period of 2019, representing a decline of approximately 2.6%[37]. - Profit for the period attributable to equity holders of the Company for the nine months ended September 30, 2020, was HK$13,992,000, compared to HK$14,372,000 for the same period in 2019, indicating a decrease of about 2.6%[37]. - The basic earnings per share for the nine months ended September 30, 2020, was HK$17.49, compared to HK$17.96 for the same period in 2019, reflecting a decrease of approximately 2.6%[37]. Strategic Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 15% to 20%[4]. - Boltek Holdings is focusing on the development of new technologies, with an investment of HKD 5 million allocated for R&D in the upcoming year[4]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[4]. - Boltek Holdings is considering potential acquisitions to enhance its product offerings and market reach[4]. - The management highlighted the importance of strategic partnerships, aiming to establish at least two new collaborations by the end of the fiscal year[4]. - The company is also exploring new product launches, with at least three new products expected to be introduced in the next quarter[4]. - Overall, Boltek Holdings remains committed to enhancing shareholder value through strategic growth initiatives and operational efficiencies[4]. Corporate Governance - The Company has complied with the Corporate Governance Code throughout the nine months ended September 30, 2020, except as disclosed[72]. - Mr. Cheung Kwan Tar serves as both chairman and chief executive officer, providing strong leadership for effective planning and management[72]. - The Company is committed to enhancing corporate governance practices to increase transparency and accountability to shareholders[72]. - The Board will regularly review the need to separate the roles of chairman and chief executive officer to maintain good corporate governance[72]. - The Company has established an Audit Committee to review financial statements and internal controls, ensuring robust financial governance[77]. - The Company aims to enhance the confidence of shareholders and business partners through high standards of corporate governance practices[72]. - The Company has not noted any incidence of non-compliance regarding Directors' securities transactions for the nine months ended September 30, 2020[74]. Shareholder Information - As of September 30, 2020, Cheung Kwan Tar holds 426,000,000 shares, representing a 53.25% shareholding in the company[64]. - Chiu Chui Ping is deemed to be interested in 426,000,000 shares through her spouse, Cheung Kwan Tar, also reflecting a 53.25% shareholding[64]. - Cheng Chi Heng holds 58,800,000 shares, accounting for 7.35% of the company's total shares[66]. - Polar Lights Limited, controlled by Wong Che Shing, holds 57,600,000 shares, which is 7.20% of the total shares[66]. - Lam Mi Yung is deemed to be interested in 57,600,000 shares through her spouse, Wong Che Shing, representing 7.20%[66]. - As of September 30, 2020, no other directors or chief executives had interests or short positions in the company's shares[64]. - The company is not aware of any other person with an interest of 5% or more in the shares, aside from the disclosed substantial shareholders[69]. - The total number of shares held by substantial shareholders reflects a concentrated ownership structure, with the top shareholder holding over 50%[66]. Operational Efficiency - The Group aims to improve operational efficiency and profitability while expanding its customer base and market share[46]. - The Group is cautiously optimistic about its business outlook due to an increasing number of project quotation invitations received[46]. - The net proceeds from the Share Offer are expected to enhance the Group's operational capacity and market position in Hong Kong[46]. - Administrative expenses for the nine months ended September 30, 2020, increased to HK$18,866,000 from HK$16,561,000 in the same period of 2019[11]. - Administrative expenses increased to approximately HK$18.9 million, up by HK$2.3 million or 13.9% from HK$16.6 million in the same period of 2019[50]. - The Group's revenue is derived from engineering consultancy services, which are the primary source of turnover[27]. - The Group's business is regarded as a single operating segment, focusing on engineering consultancy services, with no segment analysis presented[32]. Audit and Compliance - The unaudited third quarterly results for the nine months ended 30 September 2020 have been reviewed by the Audit Committee, but not audited by independent auditors[78]. - The Audit Committee comprises three independent non-executive Directors, ensuring compliance with GEM Listing Rules[77]. - The Group's financial statements have been prepared using the principles of merger accounting in accordance with Hong Kong Accounting Guideline 5, reflecting the reorganisation that took place in August 2018[26]. - The Group has no potentially dilutive ordinary shares in issue during the three months and nine months ended September 30, 2020, and 2019, resulting in diluted earnings per share being equal to basic earnings per share[39].

(Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock code 股份代號: 8601 中期報告 2020 Interim Report | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------- ...

Financial Performance - Revenue for the three months ended March 31, 2020, was HK$25,211,000, a decrease of 5.2% compared to HK$26,601,000 for the same period in 2019[11] - Gross profit for the same period was HK$9,753,000, down 18.5% from HK$11,970,000 in 2019[11] - Profit attributable to owners of the Company for the period was HK$3,660,000, a decline of 29.0% from HK$5,149,000 in the previous year[11] - Basic and diluted earnings per share were HK$0.46, compared to HK$0.64 for the same period in 2019, reflecting a decrease of 28.1%[11] - Direct costs for the period were HK$15,458,000, an increase from HK$14,631,000, indicating a rise of 5.7%[11] - The total comprehensive loss for the period was not reported, indicating a focus on profit generation rather than losses[13] - For the three months ended 31 March 2020, the Group recorded a net profit of approximately HK$3.7 million, a decrease of approximately 28.6% from HK$5.1 million for the same period in 2019[40] - Revenue decreased to approximately HK$25.2 million for the three months ended 31 March 2020, down by approximately HK$1.4 million or 5.3% from approximately HK$26.6 million for the corresponding period in 2019[46] - Costs of revenue increased to approximately HK$15.5 million for the three months ended 31 March 2020, up by approximately HK$0.9 million or 5.7% from approximately HK$14.6 million for the same period in 2019[46] - Gross profit decreased to approximately HK$9.8 million for the three months ended 31 March 2020, down by approximately HK$2.2 million or 18.5% from approximately HK$12.0 million for the corresponding period in 2019[46] - Administrative expenses increased to approximately HK$6.5 million for the three months ended 31 March 2020, up by approximately HK$0.5 million or 8.7% from approximately HK$6.0 million for the same period in 2019[46] Operational Strategy - The Company is focused on enhancing operational efficiency and exploring new market opportunities to drive future growth[12] - Future outlook includes potential expansion into new markets and continued investment in product development and technology[12] - The Group aims to improve operational efficiency and profitability while seeking opportunities to expand its customer base and market share[41] - The Directors are cautiously optimistic about the Group's business outlook due to an increasing number of project quotation invitations received from potential and current customers[40] Shareholder Information - As of March 31, 2020, Cheung Kwan Tar holds 426,000,000 shares, representing a 53.25% shareholding in the company[57] - Cheng Chi Heng and Polar Lights Limited each hold 58,800,000 shares (7.35%) and 57,600,000 shares (7.20%) respectively, indicating significant interests in the company[66] - The substantial shareholders include Cheung Kwan Tar and his spouse, Chiu Chui Ping, both holding 53.25% of the shares[64] - Ms. Chiu Chui Ping is deemed to be interested in 426,000,000 shares through her spouse's interest[2] - Polar Lights Limited, a controlled corporation of Mr. Wong Che Shing, holds shares in the Company[3] - Ms. Lam Mei Yung is deemed to be interested in 57,600,000 shares through her spouse's interest[4] Corporate Governance - The Company has established an Audit Committee in compliance with GEM Listing Rules, comprising three independent non-executive Directors[81] - The Company has complied with the Corporate Governance Code throughout the three months ended March 31, 2020[72] - The Company is committed to enhancing corporate governance practices to increase transparency and accountability to shareholders[72] - The compliance adviser appointed by the company is Grande Capital Limited, with no reported interests in relation to the group as of March 31, 2020[51] - No incidence of non-compliance regarding Directors' securities transactions was noted for the three months ended March 31, 2020[74] Financial Position - As of March 31, 2020, the total equity increased to HK$130,836,000, up from HK$127,176,000 at the beginning of the year, reflecting a growth of approximately 2.1%[13] - The retained earnings rose from HK$37,508,000 to HK$41,168,000, indicating an increase of about 9.0% during the period[13] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the three months ended March 31, 2020[51] - There were no dilutive potential ordinary shares during the three months ended March 31, 2020, resulting in diluted earnings per share being equal to basic earnings per share[37] Compliance and Reporting - The unaudited financial statements for the three months ended March 31, 2020, were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable regulations[17] - The financial statements are presented in Hong Kong dollars (HK$), with all values rounded to the nearest thousand (HK$'000), ensuring clarity in financial reporting[18] - The Company has not disclosed any new product developments or market expansions in the provided documents[52] - There are no reported mergers or acquisitions in the financial documents reviewed[52] - The Company has adopted a Share Option Scheme on August 20, 2018, but no share options have been granted under this scheme since its adoption[75] - The Group is under the common control of the Controlling Shareholder, which influences its governance and operational decisions[25] - The company’s shares have been listed on the GEM of the Stock Exchange since September 13, 2018, which is crucial for its capital raising and market presence[15] - The unaudited first quarterly results for the three months ended March 31, 2020, have not been audited by the independent auditors but reviewed by the Audit Committee[82]

Company Overview - Boltek Holdings Limited is incorporated in the Cayman Islands with a stock code of 8601[1]. - The company operates in the GEM market, which is designed for small and mid-sized companies, indicating a higher investment risk compared to other companies listed on the Stock Exchange[3]. - The headquarters and principal place of business is located in Tsim Sha Tsui, Kowloon, Hong Kong[26]. - The company’s website is www.boltekholdings.com, providing access to further information and updates[28]. Financial Performance - For the year ended 31 December 2019, the Group recorded total revenue of approximately HK$100.7 million, representing an increase of approximately 13.9% compared to HK$88.4 million for the year ended 31 December 2018[30]. - The profit attributed to owners of the Company for the year was approximately HK$16.5 million, a significant improvement from a loss of approximately HK$1.4 million for the year ended 31 December 2018[30]. - Excluding the nonrecurring Listing Expenses, the Group's net profit for the year ended 31 December 2018 would have been approximately HK$16.4 million, indicating stable profitability year-on-year[30]. - Boltek Holdings Limited reported a significant increase in revenue, achieving a total of HKD 1.2 billion for the fiscal year, representing a 15% year-over-year growth[50]. - Boltek Holdings Limited anticipates a revenue growth forecast of 10% for the next fiscal year, projecting revenues to reach HKD 1.32 billion[50]. - The company reported a net profit margin of 12%, reflecting improved operational efficiency compared to 10% in the previous year[50]. Strategic Initiatives - The Group anticipates that the net proceeds from the Listing will allow for an expansion of service capacity and operational efficiency[35]. - The Group plans to expand its team of professionals to enhance technical capabilities for future project bidding[35]. - The Group aims to improve operational efficiency and profitability while seeking opportunities to expand its customer base and market share[73]. - The Group plans to undertake more projects to enhance shareholder value[73]. - The Group's market position in Hong Kong is expected to strengthen through strategic initiatives[73]. Governance and Compliance - The report confirms that the information provided is accurate and complete in all material respects, with no misleading or deceptive statements[6]. - The company has a comprehensive governance structure, including various committees such as the Audit Committee and Remuneration Committee[24]. - The auditor for the company is Grant Thornton Hong Kong Limited, ensuring compliance and accuracy in financial reporting[28]. - The Group emphasizes sustainability and has established a compliance manual addressing anti-corruption, anti-bribery, and data protection standards[144]. Environmental, Social, and Governance (ESG) Efforts - The Group remains committed to its Environmental, Social, and Governance (ESG) measures to ensure long-term sustainability of its businesses[35]. - The Group will continue to strengthen its ESG efforts and play a vital role as a good corporate citizen[35]. - The Group is committed to minimizing air and greenhouse gas emissions, as well as non-hazardous waste generation, to combat climate change[146]. - The Group's environmental protection initiatives are aligned with relevant emission laws and regulations, ensuring compliance and sustainable development[152]. Employee and Workforce Management - As of December 31, 2019, Boltek Holdings Limited had a total of 277 employees, a slight decrease from 278 in 2018[86]. - The employee turnover rate for the year was 24%, totaling 31 permanent employees[184]. - The Group's recruitment process is non-discriminatory and based solely on performance, experience, and skills[177]. - The Group provided a comprehensive leave package to employees, including sickness, casual, marriage, funeral, maternity, annual, and injury leave, as well as statutory holidays[192]. - The Group emphasized safety as a top priority and encouraged employees to participate in job-related safety training courses[195]. Marketing and Expansion - The Listing has enhanced the Group's image in relevant business sectors, which is expected to create greater value for shareholders and investors[35]. - The Group has completed a strategic acquisition of a local competitor for HKD 200 million, expected to enhance its operational capabilities[50]. - The Group has engaged a public relations company to strengthen marketing activities[115]. Financial Resources and Investments - The net proceeds from the Listing, after deducting related expenses, were approximately HK$55.2 million[115]. - Cash and bank balances amounted to HK$89.1 million as at 31 December 2019, compared to HK$75.3 million in 2018[83]. - The Group's gearing ratio was nil as of December 31, 2019, unchanged from 2018[91]. Sustainability and Environmental Impact - Total electricity consumption for FY2019 was 123,589 kWh, a decrease from 141,190 kWh in FY2018, representing a reduction of approximately 12.5%[166]. - Total water consumption for FY2019 was 291 m³, a significant decrease from 868 m³ in FY2018[170]. - The Group's environmental emissions impact is considered insignificant, yet it remains dedicated to effective environmental protection measures[152].