Financial Performance - For the year ended December 31, 2019, the Group reported revenue of HK$ 629.9 million, a decrease of 7.6% from HK$ 681.5 million in 2018[19]. - The loss for the year was HK$ 179.3 million, compared to a loss of HK$ 49.3 million in 2018, indicating a significant decline in profitability[19]. - Loss attributable to owners of the Company was HK$ 171.7 million, up from HK$ 58.0 million in the previous year[19]. - The Group's total revenue from continuing operations for the year was approximately HK$629.9 million, a decrease from HK$681.5 million in 2018, representing a decline of about 7.3%[33]. - Gross profit from continuing operations amounted to approximately HK$135.8 million, down from HK$147.3 million in 2018, indicating a decrease of approximately 7.9%[33]. - The loss attributable to owners of the Company was approximately HK$171.8 million, compared to a loss of HK$58.0 million in 2018, reflecting a significant increase in losses[33]. - Revenue from the EMS segment decreased by approximately 6.5% to HK$582.5 million, while the Distribution of Communications Products segment saw a decline of approximately 16.6% to HK$36.5 million[49]. - The Group's finance costs increased to approximately HK$6.8 million in 2019 from HK$2.8 million in 2018, representing 1.1% and 0.4% of revenue from continuing operations, respectively[60][65]. Asset and Liability Management - The Group's total assets decreased to HK$ 734.8 million from HK$ 930.9 million, while total liabilities slightly decreased to HK$ 323.9 million from HK$ 348.0 million[19]. - As of December 31, 2019, the Group had bank and cash balances totaling approximately HK$241.4 million, down from HK$354.2 million in 2018, indicating a decrease of about 31.8%[36]. - The current ratio of the Group was 1.9 times as of December 31, 2019, down from 2.15 times in 2018, indicating a slight decline in liquidity[69]. - The gearing ratio increased to 44.1% as of December 31, 2019 from 37.4% in 2018, calculated based on total liabilities divided by total assets[71][75]. Strategic Developments - The Group officially changed its name to Link-Asia International Co. Ltd. on November 20, 2019, as part of its future development strategy[23]. - The Group has begun to explore opportunities in the real estate supply chain service business in Southeast Asia since the second half of 2019, targeting local development and asset allocation needs[23]. - The Group has shifted its business focus towards the Southeast Asia real estate supply chain, leveraging its network to identify high-quality projects since the second half of 2019[32]. - The Group aims to consolidate resources and seek new business opportunities to provide reasonable returns to shareholders amidst challenging economic conditions[28]. Market Conditions - China's GDP growth fell to 6.1% in 2019, the lowest since 1990, impacting the Group's export business and overall performance[22]. - The Group will continue to monitor negative impacts from geopolitical conflicts and seek quality investment opportunities for sustainable development[22]. - The Group's operating environment has been significantly affected by the COVID-19 outbreak, leading to market volatility[117]. - The Group anticipates a severe contraction in the economy due to the ongoing pandemic[119]. Governance and Compliance - Mr. Wong Chun Hung resigned as an independent non-executive Director on 12 August 2019, leading to a temporary non-compliance with Listing Rules regarding the minimum number of independent non-executive Directors[131]. - The Company appointed Mr. Li Huiwu as an independent non-executive Director and chairman of the Audit Committee on 14 October 2019, restoring compliance with Listing Rules 3.10(1), 3.10A, and 3.21[133]. - The Board currently consists of three Executive Directors and three Independent Non-executive Directors, with the latter accounting for over one-third of the Board[145]. - The Company has adopted the Model Code for Securities Transactions by Directors, with all Directors confirming compliance throughout the year ended 31 December 2019[134]. - The Company has complied with Listing Rules 3.10(1) and (2) since the Listing Date, maintaining a balanced and independent Board composition[145]. Risk Management - The Group is exposed to market risks, including fluctuations in foreign exchange rates, interest rates, and equity prices, and currently does not have a foreign currency hedging policy[101][102]. - The Group is closely monitoring liquidity risk by maintaining adequate cash levels to finance operations[109]. - The Group is managing interest rate risk dynamically to ensure cost-effective risk management[108]. - The Group faces manpower and retention risks, and will provide attractive remuneration packages to retain key personnel[111]. Employee and Community Engagement - The Group had approximately 1,400 employees as of 31 December 2019, offering competitive remuneration packages and training programs to attract and retain talent[92]. - The Group is committed to maintaining high environmental and social standards, encouraging participation in community activities, and complying with environmental laws[94][95].
中国储能科技发展(01143) - 2019 - 年度财报