Business Challenges and Strategies - The Group faced significant challenges in the year due to Sino-US trade frictions, tariff increases, and the COVID-19 pandemic, which impacted economic growth and business operations[13]. - Despite the challenges, the Group focused on investment opportunities in information and financial technologies, benefiting from the experience of its controlling shareholder, OKC Corporation[14]. - The Group initiated technical services and investments in digital and information technology, aligning with its development strategy in these fields[14]. - The Group changed its corporate name to "OKG Technology Holdings Limited" to better reflect its business strategy and corporate identity[14]. - Multiple subsidiaries were established to explore new opportunities in financial and information technology on a global scale[14]. Financial Performance - The Group recorded total revenue of approximately HK$570.3 million for the Year, an increase of approximately 56.3% from HK$205.4 million over the same period last year[20]. - Revenue from foundation works and ancillary services amounted to approximately HK$325.4 million, representing an increase of 26.0% compared to approximately HK$258.2 million for the year ended March 31, 2019[41]. - Revenue from the technical services segment was approximately HK$24.5 million, accounting for 4.3% of the total revenue[20]. - Revenue from construction waste handling services amounted to approximately HK$224.7 million, an increase of approximately HK$120.1 million compared to approximately HK$104.6 million for the year ended March 31, 2019[49]. - Revenue from the money lending business was HK$5.8 million, up from HK$2.3 million in 2019, with a gross profit of HK$4.8 million compared to HK$1.5 million in 2019[69]. - The Group recorded a net loss of approximately HK$61.6 million for the Year, compared to a loss of approximately HK$27.2 million for the corresponding period in 2019, representing an increase in loss of 126.5%[89]. - Administrative and other operating expenses increased by approximately 71.5% to approximately HK$91.4 million from approximately HK$53.3 million in the previous year[81]. - Finance costs increased by approximately 31.9% from approximately HK$6.9 million to approximately HK$9.1 million due to increased interest expenses from new accounting standards on leases[82]. Business Transformation and Technology - The Group's business transformation has commenced, focusing on the development and application of blockchain technologies[24]. - OKLink Fintech Limited launched a blockchain explorer and USDK compliant stable coin business during the Year[25]. - The Group aims to maintain its technological leadership in the blockchain industry while exploring new opportunities in financial technology and information technology[28]. - The Group's business upgrading and transformation in the financial technology industry and blockchain industry has achieved initial results[28]. - The Group is actively applying for a Money Services Operator license in Hong Kong to launch digital assets custody services[106]. - The Group entered into a technology service agreement with Prime Trust, LLC for the development of a platform providing USDK services[113]. Corporate Governance and Management - The Company has adopted a code of conduct for directors' securities transactions that meets or exceeds the standards set out in the Model Code for Securities Transactions by Directors of Listed Companies[176]. - The Board is responsible for determining appropriate corporate governance practices and ensuring processes are in place to achieve corporate governance objectives[177]. - The Company will continue to review and enhance its corporate governance practices to ensure compliance with the CG Code[183]. - Each newly appointed Director receives formal and comprehensive induction to understand the business and operations of the Company[183]. - All Directors confirmed compliance with the Model Code during the Year and up to the date of the annual report[178]. Staff and Human Resources - The Group employed 225 staff as of March 31, 2020, an increase from 148 staff as of March 31, 2019[108]. - Total staff costs for the year amounted to approximately HK$102.7 million, compared to approximately HK$57.6 million for the year ended March 31, 2019[108]. Market and Future Outlook - The Group aims to provide comprehensive and professional data services to enterprise users through multi-dimensional statistics and mining analysis of blockchain data[105]. - The management plans to maintain long-term relationships with existing major customers while expanding into new markets and controlling expenditures to stabilize operating costs[98]. - The strategic direction includes potential mergers and acquisitions to bolster market position and technological advancements[151].
欧科云链(01499) - 2020 - 年度财报