Financial Performance - For the fiscal year ending March 31, 2023, Novacon Technology Group reported revenue of approximately HKD 52.6 million, a 5% increase from HKD 50.0 million in the previous year[8]. - The company's profit for the same period was approximately HKD 5.7 million, a decline of about 49% from HKD 11.2 million in the prior year, primarily due to impairment losses and increased employee benefits[8]. - Revenue from licensing and maintenance services increased by about 6% to approximately HKD 41.5 million, up from approximately HKD 39.2 million in the previous year[26]. - Revenue from initial setup and customization services slightly increased by about 2% to approximately HKD 11.1 million[26]. - Other net income for the year ended March 31, 2023, was approximately HKD 1.8 million, an increase of about 403% compared to HKD 0.4 million for the year ended March 31, 2022, primarily due to government subsidies and interest income from fixed deposits[29]. - Profit attributable to owners of the company decreased by approximately 49% to HKD 5.7 million for the year ended March 31, 2023, from HKD 11.2 million for the year ended March 31, 2022, due to increased expenses and reduced tax expenses[44]. - The effective tax rate for the year ended March 31, 2023, was approximately 17.6%, down from 19.6% for the year ended March 31, 2022, primarily due to a decrease in profit before tax[43]. Business Strategy and Expansion - Novacon has focused on expanding its professional team and retaining IT talent, establishing a subsidiary in Shenzhen to enhance its IT capabilities[9]. - To increase revenue, Novacon is expanding its services to include fintech, having established two new companies in May 2023 focused on precious metals and blockchain-based trading activities[10]. - Novacon aims to diversify its business and mitigate risks by exploring new business opportunities in the fintech market[10]. - The company plans to establish a research and development center to support its long-term growth strategy in the fintech sector[25]. - The company is committed to enhancing its financial trading solutions and expanding its market presence through selective acquisitions and strategic initiatives[74]. Operational Challenges and Risk Management - The company acknowledges the ongoing challenges posed by the global economic environment, including the residual effects of the COVID-19 pandemic and rising interest rates[9]. - The group has identified several key risks, including R&D risk, customer retention risk, and supplier concentration risk, which could significantly impact its business and financial performance[48]. - The group has implemented measures to mitigate risks associated with customer retention and supplier performance, including competitive compensation and regular evaluations[49]. - The group evaluates credit risk levels related to clients at least once a year through financial and contract asset impairment assessments[171]. Employee and Talent Management - Employee benefits expenses increased by approximately 14% to HKD 22.8 million for the year ended March 31, 2023, from HKD 19.9 million for the year ended March 31, 2022, mainly due to increased employee costs of about HKD 3.4 million[33]. - The group emphasizes employee training and development, providing regular training to ensure employees are updated with the latest knowledge and skills relevant to their roles[167]. - The group has a commitment to maintaining a safe and motivating work environment for employees, with comprehensive onboarding for new hires regarding workplace safety[167]. Corporate Governance and Compliance - The board of directors consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[190]. - The company has adopted good corporate governance principles as outlined in the GEM Listing Rules[188]. - The roles of the Chairman and CEO are clearly separated, with Mr. Wei Ming serving as Chairman and Mr. Zhong Jiu Gen as CEO, ensuring effective corporate governance[199]. - All independent non-executive directors have confirmed their independence according to GEM Listing Rules[195]. Financial Position and Assets - As of March 31, 2023, the group's net current assets amounted to approximately HKD 70.3 million, an increase from HKD 67.7 million in 2022[47]. - The group's current assets were approximately HKD 77.5 million as of March 31, 2023, compared to HKD 72.1 million in 2022, with cash and cash equivalents accounting for about HKD 61.4 million[47]. - The group has no interest-bearing borrowings as of March 31, 2023, resulting in a net debt to total capital ratio of zero[47]. Shareholder Information and Stock Options - The company has not granted or canceled any stock options as of March 31, 2023[144]. - The stock option plan was adopted on March 29, 2019, to incentivize and reward eligible participants[135]. - The maximum number of stock options available for future grants is 12,800,000 shares, accounting for 3.2% of the total issued shares[141]. - The company aims to retain and attract talented employees through the stock option plan[136]. Client and Supplier Relationships - The group had 28 clients as of March 31, 2023, down from 30 in 2022, with the top five clients accounting for approximately 55.8% of total sales[169]. - The procurement amount from the top five suppliers represented about 82.2% of total procurement for the year ending March 31, 2023, compared to 80.0% in 2022, with the largest supplier accounting for approximately 33.6%[173]. - The group did not experience any supply shortages or delays during the year ending March 31, 2023[174]. Research and Development - The company has made significant progress in developing cloud-native versions of its financial trading solutions, including GES EX and GES IX[68]. - The company has allocated approximately HKD 4.1 million for basic market data subscriptions and corporate datasets, with an additional HKD 1.5 million for cloud server hosting services, and HKD 4.4 million for hiring 5 R&D personnel[70]. - The company plans to continue its focus on research and development, with expectations to complete certain projects by July 2023[74].

Financial Performance - For the three months ended December 31, 2022, the company reported revenue of HKD 13,249,000, an increase of 5.3% compared to HKD 12,578,000 for the same period in 2021[6]. - For the nine months ended December 31, 2022, total revenue reached HKD 41,379,000, up 11.5% from HKD 37,217,000 in the previous year[6]. - The company recorded a net profit of HKD 1,325,000 for the three months ended December 31, 2022, down 44.6% from HKD 2,390,000 in the same period of 2021[6]. - Basic earnings per share for the three months ended December 31, 2022, were HKD 0.33, a decrease of 45.0% compared to HKD 0.60 in the prior year[6]. - The total comprehensive income for the nine months ended December 31, 2022, was HKD 7,781,000, compared to HKD 8,574,000 for the same period in 2021, reflecting a decline of 9.3%[6]. - The company reported a net loss of HKD 991,000 for the nine months ended December 31, 2022, compared to a profit of HKD 470,000 in the same period of 2021[19]. - Profit attributable to the company's owners for the nine months ended December 31, 2022, was approximately HKD 7.8 million, a decrease of about 9% from HKD 8.6 million in the same period of 2021[33]. Revenue Sources - Revenue from licensing and maintenance services for the nine months ended December 31, 2022, was HKD 32,707,000, up 12.5% from HKD 29,070,000 in the previous year[14]. - Other income for the nine months ended December 31, 2022, totaled HKD 1,943,000, significantly increasing from HKD 201,000 in the same period of 2021[18]. - The company received approximately HKD 1,000,000 in wage subsidies under the Hong Kong government's employment support scheme for the period from May to July 2022[18]. Expenses and Costs - Total expenses for the nine months ended December 31, 2022, were HKD 7,349,000, compared to HKD 3,825,000 in the same period of 2021, reflecting a 92.5% increase[21]. - Employee benefit expenses for the three months ended December 31, 2022, were HKD 5,225,000, a decrease of 5.4% from HKD 5,524,000 in the previous year[6]. - Research and development expenses for the nine months ended December 31, 2022, were approximately HKD 11.9 million, compared to HKD 10.6 million in the previous year[40]. - Other expenses rose by approximately 92% to about HKD 7.3 million, mainly due to an increase in trade receivables impairment provisions by approximately HKD 2.5 million[47]. Equity and Assets - The company’s total equity as of December 31, 2022, was HKD 131,790,000, an increase from HKD 124,801,000 as of April 1, 2022[8]. - All revenue for the nine months ended December 31, 2022, was generated in Hong Kong, with non-current assets located in Hong Kong and China[16]. Corporate Governance - The company is committed to high standards of corporate governance, adhering to the principles and code provisions of the GEM Listing Rules[54]. - The company has established an audit committee to oversee financial reporting and internal controls[75]. - No directors or major shareholders have reported any conflicts of interest during the relevant period[74]. Future Plans and Strategies - The company plans to continue expanding its market presence and investing in new technology solutions to enhance its service offerings[9]. - The company has implemented strategies to manage costs effectively, resulting in a reduction in certain operational expenses[9]. - Future focus will be on the development of innovative IT products and services, as well as reliable financial trading solutions[34]. - A subsidiary, Shenzhen Gaopu Yi Technology Co., Ltd., was established in June 2022 to explore business opportunities in China and provide reliable human resources support[34]. Share Options and Ownership - The unexercised options under the 2019 share option scheme as of December 31, 2022, totaled 26.4 million shares after accounting for 6.0 million options that were forfeited during the period[58]. - The company adopted a share option scheme on March 29, 2019, to incentivize and reward contributions from eligible participants[55]. - The effective tax rate, excluding non-deductible corporate expenses post-listing, was approximately 19.4% for the nine months ended December 31, 2022, compared to 17.3% for the same period in 2021[51]. - The company recognized share-based payment expenses of approximately HKD 8,000 for the nine months ended December 31, 2022, compared to HKD 6,000 in 2021[64].

Financial Performance - The company's revenue for the three months ended June 30, 2022, was HKD 13,595,000, representing a 15.2% increase from HKD 11,799,000 in the same period of 2021[6] - The profit attributable to the company's owners for the period was HKD 2,668,000, a decrease of 11.6% compared to HKD 3,017,000 in the previous year[6] - Basic and diluted earnings per share were both HKD 0.67, down from HKD 0.75 in the same period last year, reflecting a decline of 10.7%[6] - The company reported a pre-tax profit of HKD 3,389,000, slightly down from HKD 3,613,000, a decrease of 6.2%[6] - Profit before tax decreased by approximately 6% to about HKD 3.4 million, down from approximately HKD 3.6 million in the same period last year, mainly due to a decrease in fair value changes of financial assets[48] - Profit attributable to owners of the company decreased by approximately 12% to about HKD 2.7 million, down from approximately HKD 3.0 million in the same period last year[51] Income and Expenses - Other income increased significantly to HKD 806,000 from HKD 67,000, marking a growth of 1097.0%[6] - Employee benefit expenses rose to HKD 4,906,000 from HKD 4,095,000, indicating an increase of 19.8%[6] - The cost of internet services increased to HKD 816,000 from HKD 759,000, reflecting a rise of 7.5%[6] - Other expenses increased by approximately 21% to about HKD 1.8 million, up from approximately HKD 1.5 million in the same period last year, primarily due to increases in legal and professional fees[46] - Financing costs decreased by approximately 87% to about HKD 2,000, down from approximately HKD 15,000 in the same period last year, as the group repaid all bank loans in November 2021[47] - Income tax expense increased by approximately 21% to about HKD 721,000, compared to approximately HKD 596,000 in the same period last year, due to an increase in profit before tax[50] Equity and Shareholder Information - Total equity attributable to owners increased to HKD 127,471,000 as of June 30, 2022, up from HKD 124,801,000 at the end of the previous quarter[8] - The company did not declare an interim dividend for the three months ended June 30, 2022, compared to no dividend declared in the same period of 2021[28] - As of June 30, 2022, Mr. Wai Ming holds 210,000,000 shares, representing 52.5% of the issued shares through his controlled entity, Essential Strategy[63] - Mr. Chung has 90,000,000 shares, accounting for 22.5% of the issued shares through his controlled entity, Expert Wisdom[63] - The total shares held by Essential Strategy and its beneficial owner, Mr. Wai, is 210,000,000, which is 52.5% of the issued shares[65] - The total shares held by Expert Wisdom and its beneficial owner, Mr. Chung, is 90,000,000, which is 22.5% of the issued shares[65] Corporate Governance - The company is committed to high levels of corporate governance, adhering to the GEM Listing Rules and principles of good governance[53] - The company has established an audit committee in compliance with GEM Listing Rules, which reviews financial reporting and internal controls[73] - The audit committee consists of three independent non-executive directors, with Mr. Lo Chi Hung as the chairman[73] - The company confirms that all directors have complied with the securities trading code during the relevant period[67] - There are no known breaches of the securities trading code by any directors during the relevant period[68] - The company has not granted any rights to directors or senior management to acquire shares or securities during the relevant period[69] Future Outlook and Strategy - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[76] - The company is investing in R&D for new technologies, with an allocation of 10 million HKD for the upcoming year[76] - Market expansion plans include entering two new regions, aiming for a 20% increase in market share within those areas[76] - The company has identified potential acquisition targets to enhance its product offerings and market presence[76] - A new product line is expected to launch in Q3 2022, anticipated to contribute an additional 5 million HKD in revenue[76] - The company has implemented a new strategy focusing on digital transformation to improve operational efficiency[76] Stock Options and Share-Based Payments - The company adopted a share option scheme to incentivize and reward contributions from eligible participants[54] - A total of 36,400,000 stock options were granted under the 2019 stock option plan, with 50% vesting in 2020 and the other 50% in 2021[55] - As of June 30, 2022, 29,200,000 stock options were exercisable, an increase from 16,200,000 in the previous year[56] - The fair value of the stock options granted in 2019 was calculated using the Black-Scholes model, with expected volatility of 55.89% for the first batch and 56.23% for the second batch[56] - A total of 1,600,000 stock options were granted under the 2020 stock option plan, with 50% vesting in 2021 and the other 50% in 2022[57] - As of June 30, 2022, 400,000 stock options from the 2020 plan were exercisable, compared to none in the previous year[60] - The fair value of the stock options granted in 2020 was also calculated using the Black-Scholes model, with expected volatility of 55.27% for the first batch and 54.01% for the second batch[59] - The company recognized approximately HKD 2,000 in share-based payment expenses for the 2020 stock options during the three months ended June 30, 2022[59] - The exercise price for the 2019 stock options was set at HKD 0.178 per share, while the exercise price for the 2020 stock options was HKD 0.095 per share[56][59] - The expected term for the 2019 stock options was 5.5 years for the first batch and 6.0 years for the second batch[56] - The company had no share-based payment expenses recorded for the 2019 stock options during the three months ended June 30, 2022[56] Market and Operational Performance - The company operates primarily in Hong Kong, with all revenue generated in this region for the three months ended June 30, 2022[16] - Major customers contributed significantly to total sales, with Customer A generating HKD 1,974,000 and Customer D generating HKD 1,596,000 in the three months ended June 30, 2022[18] - The company reported a significant increase in user data, with a growth rate of 25% year-over-year in active users[76] - The company reported a net profit margin of 12% for the last quarter, reflecting improved operational performance[76]

Financial Performance - The company's revenue for the three months ended December 31, 2021, was HKD 12,578,000, representing a 22% increase from HKD 10,311,000 in the same period of 2020[6]. - For the nine months ended December 31, 2021, the revenue reached HKD 37,217,000, up 21% from HKD 30,724,000 in the previous year[6]. - The net profit attributable to the owners of the company for the three months was HKD 2,390,000, a decrease of 5% compared to HKD 2,525,000 in the same quarter of 2020[6]. - Total comprehensive income for the nine months was HKD 8,574,000, slightly down from HKD 8,622,000 in the previous year[6]. - The company reported a profit attributable to owners of the company of HKD 8,574,000 for the nine months ended December 31, 2021, slightly down from HKD 8,622,000 in the same period of 2020[23]. - Basic earnings per share for the nine months ended December 31, 2021, were HKD 2.14, compared to HKD 2.16 for the same period in 2020[23]. - The diluted earnings per share for the nine months ended December 31, 2021, was HKD 2.14, compared to HKD 2.16 for the same period in 2020[25]. - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2021[28]. Revenue Breakdown - Revenue from licensing and maintenance services for the nine months ended December 31, 2021, was approximately HKD 29.07 million, accounting for 78% of total revenue[33]. - Revenue from initial setup and customization services for the nine months ended December 31, 2021, was approximately HKD 8.14 million, accounting for 22% of total revenue[33]. - The revenue from initial setup and customization services increased significantly to HKD 8,138,000 for the nine months ended December 31, 2021, compared to HKD 921,000 in the same period of 2020, representing an increase of 786%[15]. - Revenue from initial setup and customization services increased approximately 784% from about HKD 0.9 million to about HKD 8.1 million for the nine months ended December 31, 2021[34]. - Sales of computer hardware and software generated revenue of approximately HKD 9,000 for the nine months ended December 31, 2021, compared to none in the previous year[34]. - Revenue from licensed and maintenance services decreased approximately 2% from about HKD 29.8 million to about HKD 29.1 million due to contract terminations totaling about HKD 1.5 million[34]. Expenses and Costs - Employee benefits expenses for the nine months were HKD 14,295,000, up 34% from HKD 10,665,000 in the same period of 2020[6]. - The company experienced an increase in expenses totaling approximately HKD 5.3 million, including employee benefits and internet service costs[31]. - Research and development expenses were approximately HKD 10.6 million for the nine months ended December 31, 2021, compared to HKD 7.8 million in the previous year[39]. - The company incurred financing costs of HKD 27,000 for the nine months, significantly reduced from HKD 136,000 in the previous year[6]. - Financing costs decreased approximately 80% from about HKD 136,000 to about HKD 27,000, attributed to the repayment of bank loans and a decline in floating interest rates[46]. - Income tax expense increased approximately 10% from about HKD 2.2 million to about HKD 2.4 million, influenced by a decrease in non-taxable income[49]. Corporate Governance - The company has adopted good corporate governance principles as per GEM Listing Rules Appendix 15, ensuring compliance with all applicable code provisions[52]. - The company aims to enhance shareholder value and transparency through robust corporate governance practices[52]. - The audit committee was established on March 29, 2019, in accordance with GEM Listing Rule 5.28, consisting of three independent non-executive directors[73]. - The audit committee reviewed the unaudited condensed consolidated financial statements for accuracy[12]. - The compliance advisor for the company is Dongxing Securities (Hong Kong) Limited, with no reported interests in the company's equity as of the report date[72]. Shareholder Information - As of December 31, 2021, a total of 32,400,000 stock options were exercisable, an increase from 16,200,000 options in 2020[57]. - The company confirmed a share-based payment expense of approximately HKD 435,000 for the nine months ended December 31, 2021, compared to HKD 964,000 for the same period in 2020[56]. - The company granted a total of 1,600,000 stock options in 2020, with an exercise price of HKD 0.095 per share[58]. - The expected volatility for the 2020 stock options was 55.27% for the first batch and 54.01% for the second batch[59]. - The fair value of the 2019 stock options at grant date was HKD 0.078 per share for the first batch and HKD 0.082 per share for the second batch[56]. - The company has not reported any violations of the securities trading code by its directors as of December 31, 2021[68]. - There are no known interests or conflicts of interest among directors or major shareholders in any competing businesses as of December 31, 2021[71]. - The company’s major shareholders include Mr. Wai, who holds 210,000,000 shares (52.5%), and Mr. Chung, who holds 90,000,000 shares (22.5%) of the company[63][64]. - Essential Strategy, owned by Mr. Wai, and Expert Wisdom, owned by Mr. Chung, collectively hold 300,000,000 shares, representing 75% of the total issued shares[67]. Future Plans - The company plans to continue expanding its market presence and developing new financial trading solutions[10]. - The company plans to allocate resources to enhance and upgrade existing financial trading solutions and explore the development of new IT solutions[32]. - The company has been awarded a Standing Offer Agreement (SOA) to provide IT professional services to Hong Kong government departments, effective from January 31, 2022, for a duration of 48 months[32].

Financial Performance - For the three months ended December 31, 2020, the company's revenue was HKD 10,311,000, a decrease of 4.65% compared to HKD 10,815,000 for the same period in 2019[6]. - For the nine months ended December 31, 2020, the company's revenue was HKD 30,724,000, down 3.63% from HKD 31,883,000 in the previous year[6]. - The net profit attributable to the company's owners for the three months ended December 31, 2020, was HKD 2,525,000, compared to HKD 914,000 for the same period in 2019, representing a significant increase of 176.5%[6]. - The net profit attributable to the company's owners for the nine months ended December 31, 2020, was HKD 8,622,000, an increase of 244.5% from HKD 2,504,000 in the previous year[6]. - The company's basic and diluted earnings per share for the three months ended December 31, 2020, were HKD 0.63, compared to HKD 0.23 for the same period in 2019[6]. - The total comprehensive income for the nine months ended December 31, 2020, was HKD 8,622,000, reflecting strong performance in the current fiscal year[7]. - The company reported a fair value gain on financial assets of HKD 494,000 for the nine months ended December 31, 2020, compared to no gain in the previous year[6]. - For the nine months ended December 31, 2020, total revenue was HKD 30,724,000, a decrease of 3.6% compared to HKD 31,883,000 for the same period in 2019[13]. - The company reported a profit attributable to owners of HKD 8,622,000 for the nine months ended December 31, 2020, compared to HKD 2,504,000 for the same period in 2019, representing a significant increase of 244.5%[20]. - Basic earnings per share for the nine months ended December 31, 2020, was HKD 2.16, compared to HKD 0.64 for the same period in 2019, reflecting a growth of 237.5%[20]. - The profit before tax was approximately HKD 10.8 million, a significant increase from approximately HKD 5.2 million for the same period in 2019, representing an increase of about 107.7%[42]. - The profit attributable to the owners of the company for the nine months ended December 31, 2020, was approximately HKD 8.6 million, an increase of about 244% from approximately HKD 2.5 million for the same period in 2019[44]. Expenses and Costs - Employee benefit expenses for the three months ended December 31, 2020, were HKD 4,327,000, down 17.1% from HKD 5,223,000 in the same period of 2019[6]. - The company incurred listing expenses of HKD 4,528,000 in the previous year, which impacted the financial results[6]. - The estimated tax expense for the nine months ended December 31, 2020, was HKD 2,177,000, a decrease of 18.1% from HKD 2,659,000 in the same period of 2019[18]. - Interest income from fixed deposits for the nine months ended December 31, 2020, was HKD 223,000, down 8.2% from HKD 243,000 in the same period of 2019[16]. - Employee benefits expenses decreased by about 3% to approximately HKD 10.7 million, primarily due to a reduction in performance bonuses and severance payments[35]. - Other expenses decreased by approximately 31% to about HKD 2.7 million, primarily due to a reduction in legal and professional fees[40]. - Financing costs decreased from approximately HKD 167,000 to about HKD 136,000, mainly due to a reduction in floating interest rates[41]. Government Support and Subsidies - The company received government subsidies totaling approximately HKD 1,619,000 for the nine months ended December 31, 2020, under the Employment Support Scheme[17]. - The company has committed to not reducing staff during the subsidy period as a condition for receiving the Employment Support Scheme subsidy[17]. Strategic Plans and Developments - The company aims to continue developing financial trading solutions and resource allocation software, focusing on market expansion and technological advancements[8]. - The company plans to allocate resources to enhance and upgrade existing financial trading solutions and explore the development of new information technology solutions[27]. - The company has submitted a proposal for the development of non-financial IT solutions and won the project in May 2020, with expectations to launch part of the solutions by April 2021[28]. - The company aims to diversify its revenue sources to mitigate risks associated with its reliance on financial trading solutions[28]. - The board believes that the significant impact of the COVID-19 pandemic on the global economy and financial markets may continue to adversely affect the company's financial performance in the next fiscal year[28]. Share Capital and Options - The company has a total issued share capital of 10 billion shares with a par value of HKD 0.01 per share as of December 31, 2020[23]. - The company granted a total of 38,000,000 share options under its share option scheme, with 5,600,000 options granted to related parties[50]. - The share options granted in 2020 are divided into two tranches, each representing 50% of the total options, with the first tranche vesting on November 3, 2021[50]. - The total number of stock options granted in 2020 was 1,600,000, increasing the total unexercised stock options to 34,000,000[51]. - As of December 31, 2020, the company had 16,200,000 stock options available for exercise, compared to zero in 2019[52]. - The exercise price for the 2020 stock options was HKD 0.095, while the 2019 options had an exercise price of HKD 0.178[51]. - The fair value per share at the grant date for the 2020 stock options was HKD 0.046 for the first batch and HKD 0.047 for the second batch[51]. - The company recognized share-based payment expenses of approximately HKD 972,000 for the nine months ended December 31, 2020, compared to HKD 622,000 in 2019[51]. Corporate Governance - The company is committed to high standards of corporate governance, which it believes is essential for protecting shareholder interests and enhancing corporate value[48]. - The audit committee, established on March 29, 2019, consists of three independent non-executive directors[65]. - The company has adopted a written terms of reference for the audit committee in accordance with GEM Listing Rules[65]. - The company has adopted a strict code of conduct for securities trading in compliance with GEM listing rules[59]. - The compliance advisor, Dongxing Securities (Hong Kong) Limited, has no interests in the company's equity as of the report date[64]. - The company has not granted any rights to directors or senior executives to acquire shares or debt securities as of December 31, 2020[62]. - No other directors or senior management held any disclosable interests in the company's shares as of December 31, 2020[55]. - The company does not have any knowledge of any directors violating the securities trading code as of December 31, 2020[60]. Shareholder Information - Major shareholders include Essential Strategy with 210,000,000 shares (52.5%) and Expert Wisdom with 90,000,000 shares (22.5%) as of December 31, 2020[58]. - The company’s directors and senior management held significant interests, with the chairman owning 52.5% through a controlled corporation[54]. - Mr. Wei holds 210,000,000 shares through his wholly-owned company Essential Strategy[60]. - Mr. Zhong holds 90,000,000 shares through his wholly-owned company Expert Wisdom[60]. - There are no interests held by directors or controlling shareholders in any business that directly or indirectly competes with the group as of December 31, 2020[63].

Financial Performance - For the fiscal year ended March 31, 2020, the company recorded revenue of approximately HKD 43.0 million, a decrease of about 3% compared to HKD 44.2 million for the fiscal year ended March 31, 2019[8]. - The profit attributable to owners of the company was approximately HKD 6.8 million, an increase of about 4% from HKD 6.5 million in the previous year, mainly due to an increase in other income of approximately HKD 0.8 million[8]. - The company experienced a decrease in costs, including a reduction of approximately HKD 1.0 million in the cost of sales for computer hardware and software, HKD 2.9 million in rental expenses, and HKD 5.7 million in listing expenses[8]. - Excluding fair value adjustments of investment properties and listing expenses, the profit attributable to owners would decrease by approximately 15% from about HKD 13.3 million in the previous year to about HKD 11.3 million[8]. - The company reported total revenue of HKD 42,957,000 for the year ended March 31, 2020, a decrease of 2.9% from HKD 44,242,000 in the previous year[22]. - Revenue from licensing and maintenance services increased by approximately 8% to about HKD 41.6 million, compared to approximately HKD 38.4 million in the previous year[27]. - Revenue from initial setup and customization services decreased by about 71% to approximately HKD 1.4 million from approximately HKD 4.6 million in the previous year[27]. - Other income significantly increased to approximately HKD 849,000 from about HKD 44,000 in the previous year, mainly due to a substantial increase in bank deposits after obtaining listing proceeds[28]. - For the fiscal year ending March 31, 2020, the company's profit before tax was approximately HKD 9.9 million, an increase of about 9% from approximately HKD 9.1 million for the previous year[44]. - The income tax expense for the fiscal year ending March 31, 2020, was approximately HKD 3.1 million, representing a 21% increase from approximately HKD 2.6 million for the previous year[45]. Business Strategy and Development - The management is committed to focusing on the research and development of innovative IT products and services to provide stable and reliable financial trading solutions[9]. - The company aims to explore new business opportunities to diversify its operations and mitigate risks[9]. - The company believes it is well-prepared to maintain competitiveness and seize market opportunities[9]. - The company is focusing on R&D of financial trading solutions, establishing R&D centers, and selective acquisitions to expand its market share[12]. - The company has launched a cloud version of GES EX and upgraded AUTON to allow users to extract information from big data servers[13]. - The company aims to enhance its position as a fintech solution provider and plans to explore new IT solutions and conduct selective acquisitions[24]. - The company is focusing on developing an interactive web version of AUTON using HTML5, which will accelerate user deployment without software installation[24]. - The company plans to utilize financial resources from its listing to strengthen its financial position and implement its business plans[25]. - The company has made progress in developing cloud-native versions of GES EX and GES IX, including acquiring servers and network equipment[76]. - The company aims to unify its financial trading solutions, with initial plans to start in Q2 2020, but has faced delays[76]. Market and Economic Environment - The company anticipates that the uncertain economic and political environment will impact financial market stability and may adversely affect financial performance in the next fiscal year[9]. - The impact of the COVID-19 pandemic on the group's financial performance for the year ended March 31, 2020, was not significant, but management anticipates potential adverse effects on revenue in 2021[71]. - The group actively seeks to diversify its client base to mitigate risks associated with reliance on existing major clients[160]. - The group did not experience significant payment delays or difficulties in collecting trade receivables during the fiscal year[159]. - The group has not faced any supply shortages or delays during the fiscal year ended March 31, 2020[163]. Corporate Governance - The company is committed to high standards of corporate governance, ensuring shareholder interests and enhancing transparency[82]. - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse governance structure[178]. - The company has adopted the GEM Listing Rules Appendix 15 Corporate Governance Code as the basis for its corporate governance practices, maintaining compliance since its listing[177]. - The board is responsible for overall management and strategic planning, including reviewing business performance and approving financial statements and budgets[180]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, to enhance governance efficiency[187]. - The audit committee consists of three independent non-executive directors, with Mr. Luo Zhi Hong serving as the chairman[189]. - The company has implemented a framework to protect shareholder rights and enhance corporate value through effective governance practices[176]. Employee and Operational Insights - The company is committed to retaining and attracting experienced employees to support its growth strategy[13]. - The total employee benefits expenses, excluding capitalized costs for software development, amounted to approximately HKD 19.8 million for the year ended March 31, 2020, compared to HKD 17.9 million in the previous year[68]. - Employee benefits expenses increased due to business needs and the implementation of business plans, totaling approximately HKD 1.5 million[34]. - The remuneration policy for employees is based on qualifications, functions, experience, performance, and local market conditions[128]. - The company has implemented measures to protect customer data by limiting employee access to sensitive information[157]. Shareholder Information - The board proposed a final dividend of HKD 0.002 per share for the year ended March 31, 2020, compared to no dividend in the previous year[69]. - As of March 31, 2020, the company's distributable reserves amounted to approximately HKD 9,416,000[121]. - The company has not purchased, sold, or redeemed any of its securities during the fiscal year ending March 31, 2020[118]. - The company maintained the required public float as per GEM listing rules as of March 31, 2020[149]. Risk Management - The company faces various risks including R&D risks, customer retention risks, and supplier concentration risks, which may significantly impact its business and financial performance[54]. - The expected credit loss rate for trade receivables and contract assets as of March 31, 2020, is assessed to be below 1%, consistent with the previous year[58]. - The group has established credit policies to monitor credit risk levels associated with customers and regularly assesses their credit records based on various factors[57]. - The group has implemented compliance procedures to ensure adherence to applicable laws and regulations, with no significant legal issues reported[165].