Corporate Strategy and Market Position - AGTech is committed to providing comprehensive gaming software, hardware, and marketing consulting services for the Chinese lottery market[6]. - The company aims to explore new forms of legal and regulated lottery channels[8]. - AGTech's future outlook includes expanding its market presence and developing new products[6]. - The company aims to expand its lottery products and services in China and assist in the overall development of the industry[25]. - The company plans to seek overseas opportunities and establish strategic partnerships in markets such as India and Southeast Asia[25]. - Paytm First Games, the company's mobile gaming joint venture in India, will continue to be a key focus and driver for international expansion[37]. - The company is focused on developing and launching commercialized aggregated games in selected international markets[37]. - The company is actively involved in charitable and sports projects, contributing to the development of a responsible lottery industry in China[29]. - The company is committed to responsible contributions to the lottery and online gaming industry, including sports development and charity activities[116]. - The group operates in the lottery, mobile gaming, and entertainment markets, focusing on China and selected international markets[118]. Financial Performance and Governance - The financial report indicates that AGTech has a 51% ownership stake in AGT, a company registered in Hong Kong[15]. - The report emphasizes the potential risks associated with investing in GEM-listed companies, which are generally smaller and may experience higher market volatility[3]. - The report confirms that all directors have collectively and individually accepted responsibility for the accuracy of the information provided[3]. - The company has adhered to the corporate governance code, with some deviations regarding the roles of the chairman and CEO, and the rotation of directors[43]. - The company has not disclosed specific remuneration details for senior management in its annual report, citing reasons related to flexibility in negotiations for future hires[45]. - The board of directors is responsible for formulating corporate policies, business strategies, and significant financial matters, with a focus on risk management and compliance[49]. - The company has committed to timely announcements and updates on business developments and financial performance to keep shareholders informed[43]. - The board confirmed the effectiveness of the group's financial reporting processes and compliance with GEM listing rules[93]. Risk Management and Internal Controls - The Risk Management and Internal Control Committee identified various risk areas, including operational, budgetary, liquidity, foreign exchange, credit, and legal or political risks, and established acceptable levels for these risks[87]. - The risk management and internal control committee did not identify any significant risks or deficiencies during the review year, confirming the effectiveness of the group's risk management and internal control systems[91]. - The board conducted an annual review of the effectiveness of the risk management and internal control systems, considering factors such as the committee's authority, responsibilities, and risk tolerance levels[93]. - The group has implemented a fraud disclosure mechanism allowing employees to confidentially report any potential misconduct related to financial reporting and risk management[92]. Corporate Governance and Board Composition - The board consists of 9 members, with 7 males (77.8%) and 2 females (22.2%), ensuring gender diversity[79]. - The company has implemented a diversity policy for its board and workforce, focusing on various elements such as gender, age, and nationality[162]. - The company’s nomination policy aims to ensure a balanced skill set, experience, and diversity among board members to meet business needs[67]. - The board includes a mix of executive and independent non-executive directors, with recent changes in board membership noted[50]. - The company has confirmed the independence of all independent non-executive directors, with none serving on the board for over 9 years[61]. Employee Welfare and Corporate Culture - The company has a competitive compensation structure and provides a good working environment to attract talent[30]. - The company provides in-house training and sponsorship for employees to enhance their professional knowledge and skills[173]. - Employees are entitled to paid annual leave after one year of continuous service, in accordance with Chinese labor laws[160]. - The company has established policies to ensure compliance with relevant labor laws and regulations, including those related to employee conduct and termination[153]. - The company emphasizes the importance of adhering to relevant policies, business practices, and internal controls, ensuring compliance with applicable laws and regulations[154]. Environmental Responsibility and Sustainability - The company emphasizes its commitment to creating a low-carbon office environment and encourages employees to adhere to energy-saving policies, including the use of eco-friendly paper and electronic documents[127]. - The company has implemented energy-saving policies, such as encouraging employees to turn off computers and lights when not in use, and promoting the use of public transportation[139]. - The company launched two new lottery games, "Lucky Racing" and "E-Ball," which received official approval from the Ministry of Finance before their launch in Hunan and Jiangsu provinces[186]. - The company is committed to sustainable development and compliance with relevant laws and regulations affecting its operations[185]. - The total electricity consumption of the company for the year ended December 31, 2019, was approximately 255,835 kWh, representing an increase of about 2.5% compared to 2018[198]. Community Engagement and Social Responsibility - The company has engaged in various charitable and sports activities, including sponsoring youth sports teams and participating in charity events[191]. - The company collaborates closely with lottery agencies to combat illegal gambling and raise funds for sports and welfare projects[194]. - The company emphasizes the importance of supplier compliance with environmental, health, and safety regulations during the supplier selection process[181].
亚博科技控股(08279) - 2019 - 年度财报