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辰罡科技(08131) - 2020 - 年度财报

Financial Performance - Revenue for the year ended November 30, 2020, was HKD 16,626,000, a decrease of 4.2% compared to HKD 17,361,000 in 2019[16]. - The company reported a loss of HKD 2,987,000 for the year, which is a 39.8% improvement from a loss of HKD 4,965,000 in the previous year[16]. - Gross profit margin increased to 55.2% from 53.8%, reflecting a 1.4% improvement year-over-year[16]. - Total assets rose by 56.4% to HKD 12,123,000 from HKD 7,753,000 in 2019[16]. - Net liabilities increased by 13.4% to HKD 25,204,000 from HKD 22,217,000[16]. - Cash and cash equivalents decreased by 5.5% to HKD 4,429,000 from HKD 4,685,000[16]. - Current ratio declined by 12.6% to 1.04 from 1.19, indicating a decrease in short-term financial health[16]. - The group recorded revenue of approximately HKD 16,626,000, a decrease of 4% compared to HKD 17,361,000 in the previous year[22]. - Gross profit for the year was approximately HKD 9,185,000, remaining stable compared to HKD 9,335,000 in the previous year[22]. - Operating expenses for the year were approximately HKD 12,720,000, a reduction of 6% from HKD 13,591,000 in the previous year due to cost-saving measures[23]. - Employee costs (excluding directors' remuneration) totaled approximately HKD 8,441,000, a slight decrease of 4% from HKD 8,820,000 in the previous year[24]. Business Strategy and Development - The company aims to enhance its competitive position by expanding its product base through innovative solutions like FinReg[12]. - The management anticipates that the digital transformation accelerated by the pandemic will continue to influence business operations[12]. - The company remains focused on cost control and prudent financial strategies to improve its financial condition[13]. - The company launched an upgraded C version of its core brokerage settlement system, OCTOSTP, for a well-known brokerage in Singapore[25]. - The company is developing a new expanded version of the C backend system, expected to launch in 2021 and 2022, to enhance operational functions for the brokerage industry[31]. - The company has successfully developed a new regulatory technology solution, "FinReg Innovation Tool," to assist clients with transaction monitoring and anti-money laundering compliance[32]. - The company plans to enhance the functionality of its flagship product, OCTOSTP, by upgrading the system and expanding its customer base, with a focus on providing advanced solutions for the securities departments of local and international banks[67]. - The company has been developing a new C version of the OCTOSTP system since 2018, which will replace the old Visual Basic version, offering improved technical performance and stability[68]. - The company aims to continue signing more sales contracts for the OCTOSTP system in the upcoming fiscal year[69]. - The company believes that the potential of the fintech resource service market is considerable and is prepared to leverage its expertise to capture future growth trends[63]. Acquisitions and Partnerships - The company signed a conditional acquisition agreement to purchase 100% of the issued shares of a technology consulting firm for HKD 4,200,000[30]. - The company announced a conditional acquisition agreement to purchase 100% of the issued shares of Chuangzhi Management Consulting Limited for a cash consideration of HKD 4,200,000, which is subject to adjustments[52][55]. - The company signed an acquisition agreement on January 4, 2021, to acquire 100% of the issued shares of a technology contractor for a cash consideration of HKD 4,200,000[85]. - The acquisition is expected to enhance the company's operational scale and sustainability in the IT outsourcing industry, which is anticipated to continue expanding[86]. - The company has partnered with at least ten new business partners since 2019 to launch various products and solutions, including cloud services and cybersecurity solutions[84]. Employee and Talent Management - The company relies heavily on its ability to attract and retain skilled personnel, which is critical for its growth and operational success[44]. - The company has begun participating in job fairs to connect with a large pool of job seekers, which is a cost-effective strategy[90]. - The company is utilizing various recruitment methods, including partnerships with recruitment agencies and advertising on job portals, to expand its talent pool[91]. - The group employed 22 staff in Hong Kong, a decrease from 24 staff in 2019[159]. - Approximately 50% of employees have been with the group for over 3 years, up from 42% in 2019, indicating strong employee loyalty[158]. - The employee composition is 95% full-time and 5% part-time, with a gender distribution of 77% male and 23% female[160]. - The group conducts annual performance evaluations to recognize employee contributions and promote from within before considering external hires[157]. - The group emphasizes competitive compensation and benefits to retain talent, including flexible leave arrangements and medical insurance[157]. Corporate Governance and Compliance - The company has maintained a high standard of corporate governance, complying with GEM listing rules and regularly reviewing its practices[172]. - The management provides quarterly updates to the board regarding the company's performance and financial status, ensuring transparency and informed decision-making[176]. - The company has not established an internal audit function since its listing in 2000, but believes its current organizational structure provides sufficient risk management and internal control[177]. - The internal control system is reviewed annually, focusing on the effectiveness of key controls, including financial, operational, and compliance controls[177]. - The board consists of two executive directors and three independent non-executive directors, all of whom are considered independent[179]. - The board held five meetings during the reporting year, with attendance rates of 100% for most directors[183]. - The company has implemented a board diversity policy, considering factors such as gender, age, and professional background in its director selection process[187]. - The nomination committee reviews the board's composition annually to ensure the effectiveness of the diversity policy[189]. - The company has established measurable goals for board diversity, focusing on various aspects including gender and professional experience[188]. - The board is collectively responsible for promoting the company's achievements and ensuring compliance with applicable laws and regulations[194]. Risk Management - The company faces potential risks from economic downturns in Hong Kong, which could adversely affect its business performance and client payment behaviors[48]. - The company has implemented a prudent treasury policy to ensure that its assets are not exposed to unnecessary risks, with no investments outside cash and short-term bank deposits[35]. - The company has established internal controls to protect source code and ensure data security, with regular updates and backups to safeguard client information[169]. Environmental and Social Responsibility - The environmental, social, and governance report covers the group's significant business activities in Hong Kong from December 1, 2019, to November 30, 2020[151]. - The group has implemented various health and safety measures, including providing masks and hand sanitizers to employees during the COVID-19 pandemic[160]. - The group has not recorded any fatalities or serious workplace injuries in recent years, reflecting a commitment to employee safety[160]. - The company has implemented measures to enhance energy efficiency, resulting in paper consumption of approximately 85,000 sheets and electricity usage of about 60,000 kWh, a reduction from the previous year's figures[168].