Financial Performance - The group's unaudited revenue for the six months ended May 31, 2024, was HKD 12,850,000, a decrease of 3.84% from HKD 13,364,000 for the same period in 2023[4] - The unaudited net loss for the six months ended May 31, 2024, was HKD 5,165,000, compared to a net loss of approximately HKD 2,096,000 for the same period in 2023, representing an increase in loss of 146.5%[4] - The unaudited basic loss per share for the six months ended May 31, 2024, was HKD 1.09 cents, compared to HKD 0.44 cents for the same period in 2023[4] - Revenue for the six months ended May 31, 2024, was HKD 12,850,000, a decrease of 3.8% from HKD 13,364,000 in the same period of 2023[39] - Gross profit decreased to HKD 4,976,000, down 49.3% from HKD 9,802,000 year-on-year[39] - Operating loss increased to HKD 4,469,000 compared to a loss of HKD 1,476,000 in the previous year[39] - Loss before tax was HKD 5,165,000, significantly higher than the loss of HKD 2,096,000 in the same period last year[39] - Basic loss per share was HKD (1.09), compared to HKD (0.44) in the previous year[39] Assets and Liabilities - Total assets as of May 31, 2024, were HKD 30,120,000, down from HKD 41,720,000 as of November 30, 2023, indicating a decrease of 27.7%[8] - Total liabilities as of May 31, 2024, were HKD 27,110,000, a decrease from HKD 33,545,000 as of November 30, 2023, reflecting a reduction of 19.3%[8] - The equity attributable to owners of the company was HKD 3,010,000 as of May 31, 2024, down from HKD 8,175,000 as of November 30, 2023, representing a decline of 63.2%[9] - Total liabilities included non-current liabilities of HKD 14,000,000, up from HKD 13,307,000 in the previous year[31] - Total equity decreased to HKD 3,010,000 from HKD 18,861,000 year-on-year[35] Cash Flow - Cash and cash equivalents increased to HKD 13,258,000 as of May 31, 2024, compared to HKD 6,123,000 as of November 30, 2023, showing an increase of 116.5%[7] - The group reported a net cash inflow from operating activities of HKD 7,358,000 for the six months ended May 31, 2024, compared to HKD 1,000,000 in the same period last year, indicating a significant increase[165] - The group reported a net increase in cash and cash equivalents of HKD 7,135,000 for the period, compared to HKD 1,000,000 in the previous year, resulting in a cash balance of HKD 13,258,000 at the end of the period[165] Revenue Segmentation - Approximately 44% of total revenue for the period came from maintenance services, amounting to HKD 5,659,000[83] - Revenue from financial technology resources increased to HKD 5,498,000, up 20.8% from HKD 4,553,000 in the previous year[40] - Revenue from software licensing and related services decreased to HKD 1,676,000, down 30.7% from HKD 2,422,000 year-on-year[40] Employee Costs - Employee costs (excluding directors' remuneration) totaled approximately HKD 7,108,000, a 42.3% increase from HKD 4,994,000 in the same period last year, primarily due to an increase in the number of employees[59] - As of May 31, 2024, the total employee cost for the six months was approximately HKD 7,108,000, with 35 employees in Hong Kong, an increase from 24 employees in the previous year[112] Corporate Governance and Compliance - The company has adopted relevant amendments to the corporate governance code to ensure compliance with GEM listing rules[137] - The company completed the full implementation of the Hong Kong Investor Identification Regime for its OCTOSTP clients, enhancing compliance with exchange regulations[116] - The company has not redeemed or purchased any of its listed securities during the reporting period[139] Strategic Initiatives - The group has increased its focus on regulatory technology solutions, particularly the FinReg system, to assist clients with compliance and monitoring, addressing the growing market demand[92] - The group plans to enhance its R&D capabilities and improve the quality of its sales and marketing teams to drive revenue growth in 2024[97] - The group aims to leverage its diverse product offerings and technological capabilities to maintain market competitiveness and prepare for future growth opportunities[96] - The group is currently in discussions with several potential clients to implement its regulatory technology solutions, indicating ongoing market expansion efforts[173] Product Development - The new product "abcWealthConnect" was successfully launched, aimed at enhancing efficiency in portfolio management and performance calculation for asset management clients[94] - The group has successfully expanded its client base in the fintech resource services sector, signing new recruitment service contracts with clients from various industries[95] - The group has expanded its product line in 2023, with positive customer feedback on the new offerings, indicating a successful market entry[94] Market Conditions - The overall investment climate has become cautious due to global economic downturns, impacting new sales contracts during the period[91] - The company has not recorded any significant changes in the performance or financial condition that would require immediate reporting to the board[138] Financial Reporting Standards - The group has not applied any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, and is currently assessing their impact[16] - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from December 1, 2023, with no significant impact on the financial statements expected[166]
辰罡科技(08131) - 2024 - 中期业绩