Financial Performance - The total revenue for the fiscal year 2018 was approximately HKD 109.6 million, representing a 27% increase from approximately HKD 86 million in the fiscal year 2017[10]. - The net profit after tax for the fiscal year 2018 was approximately HKD 20.7 million, a significant increase of 361% compared to HKD 4.5 million in the fiscal year 2017[10]. - The gross profit for the fiscal year 2018 rose to approximately HKD 47.9 million, up 38% from approximately HKD 34.8 million in the previous fiscal year[10]. - The group's revenue for the fiscal year 2018 increased by 27% to approximately HKD 109.6 million, compared to approximately HKD 86 million in the fiscal year 2017[24]. - Gross profit for the fiscal year 2018 rose by 38% to approximately HKD 48 million, up from approximately HKD 35 million in the fiscal year 2017[24]. - The group recorded a net profit of approximately HKD 20.7 million for the fiscal year 2018, a 361% increase from approximately HKD 4.5 million in the fiscal year 2017[27]. - The overall gross profit margin for the fiscal year 2018 was 44%, compared to 40% in the fiscal year 2017[16]. - The group achieved technical sales and distribution revenue of HKD 65.6 million from electronic gaming equipment, a decrease of 10% from HKD 72.8 million in the fiscal year 2017[15]. - Revenue from consulting and technical services increased by approximately 26% to HKD 8.5 million, up from HKD 6.7 million in the previous fiscal year[150]. - Revenue from maintenance services rose by about 15% to HKD 2.5 million, compared to HKD 2.1 million in the previous fiscal year[151]. Business Strategy and Market Outlook - The company plans to continue executing its business and operational plans as outlined in the prospectus, focusing on the growth of the electronic gaming equipment market in Macau and other regions in Asia[11]. - The increase in revenue was primarily driven by sales and distribution of electronic gaming equipment in Macau and Asia, including rental sales in Cambodia and the Philippines[10]. - The company expressed confidence in the growth prospects of the electronic gaming equipment market in Macau and other Asian regions[11]. - The group plans to continue executing its business plan from the prospectus dated October 31, 2017, including introducing new gaming machines in Macau[20]. - The group anticipates growth opportunities in the Asian market, particularly in Vietnam, the Philippines, and Cambodia, due to new developments in the gaming industry[19]. - The group aims to enhance its market presence in Macau and Southeast Asia, with 17.3% of the net proceeds allocated for this purpose[160]. Corporate Governance - The company has adopted and complied with all applicable code provisions of the Corporate Governance Code as set out in the GEM Listing Rules[70]. - The board consists of six directors, with independent non-executive directors making up 50% of the board members[76]. - The company has three independent non-executive directors, meeting the requirement that they must constitute at least one-third of the board[77]. - The company provides training for all directors to ensure they understand their responsibilities and the company's operations[81]. - The board is responsible for overseeing the management of the company's business affairs and overall performance[72]. - The company has established appropriate insurance arrangements to cover any liabilities incurred by directors in the performance of their duties[79]. - The company has adopted a shareholder communication policy to ensure equal and timely access to information for shareholders[136]. Management and Personnel - The company has a strong management team with diverse backgrounds in finance, marketing, and operations[63]. - The CEO has been with the company since its inception and has extensive experience in sales and marketing[58]. - The CFO joined the company in 2013 and was appointed as CFO in April 2018[59]. - Employee costs for the fiscal year 2018 amounted to approximately HKD 15.1 million, an increase from HKD 9.7 million in 2017[37]. - The company has implemented a compensation policy to attract and retain talented employees, including competitive salaries and performance bonuses[182]. Risk Management - The company has established policies and procedures for risk management and internal control, which are regularly reviewed by the board[123]. - The board believes that the risk management and internal control measures are adequate and effective in the current business environment[124]. - The company plans to review its risk management and internal control systems annually[125]. - The Risk Management Committee was established on November 15, 2017, to oversee the company's risk management policies and standards[108]. Shareholder Information - The company did not declare any dividends for the fiscal year, compared to HKD 6.5 million in the previous year[156]. - As of December 31, 2018, the company's distributable reserves amounted to approximately HKD 36,565,000[169]. - The largest customer accounted for 26.0% of total sales, while the top five customers collectively represented 76.0% of total sales[174]. - The largest supplier constituted 37.0% of total procurement, with the top five suppliers making up 89.9% of total procurement[174]. - The beneficial ownership of APE HAT is divided among Mr. Xu, Mr. Wu, and Mr. Chen, with each holding 39.68%, 39.68%, and 20.64% respectively[199]. Compliance and Legal Matters - There were no significant breaches of applicable laws and regulations during the year[164]. - The company confirmed that independent non-executive directors reviewed related party transactions and deemed them fair and reasonable[200]. - The company is subject to the Securities and Futures Ordinance regarding the disclosure of interests and short positions[188].
亚洲先锋娱乐(08400) - 2018 - 年度财报