Financial Position and Fundraising - The company successfully raised approximately HKD 25.62 million from the placement of 120,000,000 new shares on April 11, 2024, enhancing its financial position and shareholder base[6] - The placement of new shares is expected to provide operational funds to meet financial obligations without incurring interest burdens, compared to other fundraising methods[6] - A total of 120,000,000 new shares were successfully placed at a price of HKD 0.218 per share, raising approximately HKD 25,624,000 for general operating funds and licensing[50] - The estimated cost for the proposed acquisition of HUOBI Co. Ltd. is approximately HKD 39,000,000, which will be funded through cash or shares[16] - The company plans to acquire equity in HUOBI for an estimated cost of HKD 39,000,000, with the acquisition expected to be completed by November 16, 2024[51] Business Development and Strategy - The company has made significant progress in developing its blockchain technology business, obtaining a trust or company service provider license for its subsidiary, Bitcoin World Custodian Limited[7] - Bitcoin World Technology Limited has submitted an application for necessary licenses to operate regulated activities under the Securities and Futures Ordinance, which has been accepted by the Securities and Futures Commission[7] - The company aims to provide more diversified services to investors through the operation of a virtual asset trading platform once the license is granted[7] - The company is focused on creating synergies between its various business lines to open new revenue sources[7] - The company is committed to exploring potential business developments to achieve growth and maximize shareholder value[6] Revenue and Performance - The e-commerce business contributed approximately HKD 11,191,000 or 10.4% of total revenue for the fiscal year ending June 30, 2024, down from HKD 55,491,000 or 42.1% in the previous year[11] - The group recorded revenue of approximately HKD 71,606,000 from network support and connectivity services for the year ending June 30, 2024, a decrease of about 6.5% from HKD 76,246,000 in 2023[13] - Revenue from the Malaysian market slightly decreased by approximately HKD 700,000 or 1.0% to about HKD 70,521,000 for the year ending June 30, 2024, compared to HKD 71,221,000 in 2023[13] - Revenue from the Chinese market fell to approximately HKD 1,085,000 for the year ending June 30, 2024, down from HKD 5,025,000 in 2023, attributed to a smaller scale of services completed[13] - The company’s revenue decreased by approximately HKD 24,334,000 or 18.5%, from HKD 131,737,000 for the year ended June 30, 2023, to HKD 107,403,000 for the year ended June 30, 2024[23] Operational Efficiency and Cost Management - The group aims to enhance its competitive advantage and operational efficiency through blockchain technology services, following a successful placement of approximately HKD 15,600,000 for licensing applications[16] - The gross profit margin in the Malaysian market declined to approximately 22.2% due to increased costs and competition[13] - Gross profit margin decreased from approximately 52.3% for the year ended June 30, 2023, to about 22.7% for the year ended June 30, 2024, primarily due to the suspension of the e-commerce membership program and the lower margin of the new gaming service[25] - Sales and service costs increased by approximately HKD 20,118,000 or 32.0%, from HKD 62,889,000 for the year ended June 30, 2023, to HKD 83,007,000 for the year ended June 30, 2024, mainly due to the new gaming service's licensing costs[24] Leadership and Governance - The company has a strong leadership team with diverse backgrounds in finance, accounting, and technology, enhancing its strategic decision-making capabilities[64] - The company is focused on expanding its market presence and enhancing its operational efficiency through strategic leadership appointments[61][62][63][64][65] - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[120] - The board meets at least four times a year to discuss business development, operations, and financial performance[126] - The board is collectively responsible for overseeing the company's affairs and ensuring effective internal controls and risk management systems[125] Environmental, Social, and Governance (ESG) Initiatives - The company is committed to environmental policies and has implemented various green measures to reduce its environmental impact[71] - The report highlights the group's commitment to improving ESG performance and transparency to benefit stakeholders in the long term[162] - The company has implemented energy-saving measures, including regular maintenance of electrical equipment and encouraging employees to turn off devices when not in use[172] - The company has fully complied with relevant environmental laws and regulations in Malaysia and China during the reporting period[170] - The company has not produced any hazardous waste during the reporting period, and the amount of non-hazardous waste generated is negligible[172] Employee Relations and Development - The company is committed to promoting equal opportunities and diversity in the workplace, ensuring that employment decisions are free from discrimination based on non-work-related factors[193] - Continuous training and development opportunities are provided to employees to enhance their skills and capabilities, with performance evaluations conducted annually[195] - The company has established strict health and safety policies to maintain a safe working environment, complying with relevant laws and regulations[194] - The percentage of trained employees increased to 82% in 2024 from 76% in 2023[196] - The company provides mandatory employee provident funds and social security benefits to support employees in need, including retirement savings and unemployment insurance[192]
比特元宇宙(08645) - 2024 - 年度财报