Financial Performance - Total revenue for the year ended December 31, 2019, was approximately HKD 59.1 million, a decrease of about 6.2% compared to HKD 63.0 million for the year ended December 31, 2018[11]. - Profit attributable to owners for the year was approximately HKD 0.1 million, significantly down from HKD 7.9 million in the previous year[11]. - The decline in profit was primarily due to the cessation of leasing the old version of Ahsay™ backup software, reduced bulk purchases by customers, increased employee costs from the expansion in the Philippines, and higher operating expenses[11]. - The company's revenue decreased from approximately HKD 63.0 million in 2018 to about HKD 59.1 million in 2019, a decline of approximately 6.2%[23]. - The decrease in revenue was primarily due to the cessation of leasing the old version of Ahsay™ backup software, leading to a reduction in rental income by approximately HKD 1.8 million and a decrease in software license sales by approximately HKD 1.9 million[43]. - The group recorded a loss of approximately HKD 0.5 million for the year ended December 31, 2019, compared to a profit of about HKD 7.9 million in the same period of 2018[50]. - Other income increased by approximately 41.7% to about HKD 1.7 million for the year ended December 31, 2019, primarily due to increased bank interest income[45]. Business Development and Strategy - The company launched the new version of Ahsay™ backup software (version 8) in January 2019, following the discontinuation of version 6 at the end of 2018[12]. - The company acquired a 52.17% stake in Ahsay Korea in April 2019 to expand its business in the emerging Asian markets[12]. - A new subscription business model, KINBOY, was launched in October 2019, aimed at providing an integrated information platform for horse racing[15]. - The company plans to continue exploring suitable market opportunities to maximize returns for shareholders and investors[14]. - The company plans to enhance its product features and distribution channels to adapt to market changes[32]. - The company is actively seeking various development opportunities through the acquisition of Ahsay Korea, which is seen as a good opportunity to expand its revenue base and market share in the backup software industry[37]. - The company is focused on expanding its business opportunities and enhancing its operational strategies[74]. Employee and Operational Changes - Employee count in the Philippines increased from 15 at the end of December 2018 to 31 by the end of December 2019, supporting customer service and internal operations[14]. - Employee costs and related expenses increased from approximately HKD 39.5 million to about HKD 43.0 million, representing a growth of approximately 8.9%[46]. - The group did not encounter any operational disruptions due to strikes or major labor disputes during the year[67]. - The group provides various training programs to enhance employees' professional skills and knowledge related to their responsibilities[67]. - The company has not faced significant difficulties in recruiting and retaining qualified employees[67]. Corporate Governance and Management - The board consists of four executive directors and three independent non-executive directors as of December 31, 2019[156]. - The board has the discretion to select participants for the stock option plan based on appropriate conditions[123]. - The company has appointed independent directors to ensure unbiased opinions and strategic guidance, which is crucial for corporate governance[82][86]. - The company emphasizes high-quality board leadership and effective internal controls to maximize shareholder value[159]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[158]. - The board confirmed its responsibility for the effectiveness of the risk management and internal control systems, which are designed to manage rather than eliminate risks[193]. Financial Commitments and Shareholder Information - The company reported a total distributable reserve of HKD 59,879,000 as of December 31, 2019, compared to HKD 58,920,000 in the previous fiscal year[108]. - The board does not recommend any dividend distribution for the year ending December 31, 2019[102]. - The company has adopted a general dividend policy aimed at providing shareholders with a share of the group's profits, considering various financial performance factors[99]. - The company has maintained a public float of at least 25% of its total issued share capital as of the report date[146]. - The company has confirmed that the ongoing related party transactions comply with the GEM Listing Rules and have been approved by the board[135]. Audit and Compliance - Deloitte resigned as the auditor, and Ernst & Young was appointed to fill the vacancy[153]. - For the year ended December 31, 2019, the audit fees paid to Ernst & Young amounted to HKD 800,000, while non-audit services provided by Deloitte totaled HKD 220,000[190]. - The Audit Committee held four meetings during the year ended December 31, 2019, to review quarterly, interim, and annual consolidated financial statements[181]. - The company has established appropriate liability insurance for directors to protect against risks arising from corporate activities[170]. - The company is committed to maintaining high levels of transparency and timely disclosure of relevant information to shareholders[197].
亚势备份(08290) - 2019 - 年度财报