Financial Performance - For the fiscal year ending August 31, 2024, ECI Technology Holdings Limited reported revenue of approximately HKD 200,265,000, an increase of about 15.09% compared to HKD 174,012,000 in the previous year[13][17]. - The gross profit for the same period was approximately HKD 49,811,000, up from HKD 40,595,000 in the prior year[13]. - The net profit for the fiscal year was approximately HKD 8,948,000, compared to HKD 5,624,000 in the previous year[14][17]. - The company's revenue increased by approximately 15.09% from about HKD 174,012,000 for the year ended August 31, 2023, to about HKD 200,265,000 for the year ended August 31, 2024[25]. - The gross profit rose by approximately 22.70% from about HKD 40,595,000 for the year ended August 31, 2023, to about HKD 49,811,000 for the year ended August 31, 2024[26]. - The company's administrative expenses increased by approximately 15.41% from HKD 35,604,000 for the year ended August 31, 2023, to about HKD 41,089,000 for the year ended August 31, 2024[27]. - The sales cost increased by approximately 12.77% from about HKD 133,417,000 for the year ended August 31, 2023, to about HKD 150,454,000 for the year ended August 31, 2024[26]. - The group had interest-bearing bank borrowings of approximately HKD 5,077,000 as of August 31, 2024, an increase of about HKD 1,077,000 from HKD 4,000,000 as of August 31, 2023[35]. - As of August 31, 2024, the group had cash and bank balances of approximately HKD 31,932,000, an increase of about HKD 10,223,000 compared to HKD 21,709,000 as of August 31, 2023[35]. Dividends and Shareholder Information - The company did not recommend a final dividend for the fiscal year ending August 31, 2024, compared to no dividend in the previous year[15]. - The group did not declare a final dividend for the year ended August 31, 2024, compared to no dividend declared for the previous year[36]. - The company has approximately HKD 10,286,000 available for distribution to shareholders as of August 31, 2024[108]. - As of August 31, 2024, the company has 1,600,000,000 shares issued, with major shareholders holding significant stakes[135]. - Dr. Wu Tai-wing and Ms. Wang Zhiwen each hold 880,000,000 shares, representing 55% of the total shares[134]. - Mr. Yang Shuo holds 320,000,000 shares, accounting for 20% of the total shares[140]. - The total number of share options available under the share option scheme remains at 160,000,000 as of both September 1, 2023, and August 31, 2024[128]. - The company has no outstanding stock options or warrants as of the report date[134]. Projects and Operations - The company secured a large contract for wastewater treatment projects from its partner, which has been ongoing for over nine years[17]. - Ongoing maintenance contracts include electronic systems for the Hong Kong-Zhuhai-Macao Bridge and various security systems for hospitals and border facilities[17]. - Major projects completed during the fiscal year include the installation of access control and CCTV systems at the Regal Garden and a low-voltage system at the Hong Kong Post Headquarters[17]. - The company has commenced operations of electric vehicle charging stations at Long Yi Peak and Rui An Center, with plans to explore further opportunities to increase the number of charging stations[24]. - The security services at the company’s main project in Haijing Bay are ongoing, with additional security services provided for events such as the Standard Chartered Hong Kong Marathon 2024[22]. - The company has completed significant installation projects for various clients, including the installation of ELV systems at the Hong Kong Post Headquarters and security systems at multiple locations for the Hong Kong Police Force[21]. Risk Management - The company identified key risks for the fiscal year ending August 31, 2024, including strategic risks from changing competitive landscape and market saturation[55]. - Operational risks include poor performance of subcontractors and lack of experienced management personnel[55]. - Financial risks encompass liquidity risk, credit risk, interest rate risk, and inflation risk[55]. - Compliance risks involve occupational safety and health risks, failure to comply with applicable employment laws, and changes in GEM listing rules[55]. - The company employs a "three lines of defense" governance structure for risk management, with annual assessments of identified risks[56]. - An independent internal audit function is outsourced to external professionals to enhance internal controls and risk management systems[57]. - The management team is committed to integrating risk management into daily operations to align with corporate objectives[56]. - The management team will update the risk register at least annually to reflect new or removed risks[56]. Corporate Governance - The company is committed to maintaining compliance with regulatory requirements and ensuring effective internal controls, as highlighted by past experiences of its directors[78]. - The independent directors are involved in various committees, including the audit committee, remuneration committee, and nomination committee, to oversee corporate governance[68][71][73][80]. - The company aims to leverage the expertise of its directors to drive strategic initiatives and enhance operational efficiency[68][73][80]. - The board consists of seven members, with a gender distribution of approximately 78.59% male and 21.41% female among the entire employee team[165]. - The company has adopted the corporate governance code as per GEM listing rules, with a noted deviation regarding the roles of the Chairman and CEO being held by the same individual[158]. - The audit committee confirmed that the annual report complies with applicable standards and regulations, ensuring adequate disclosure[179]. - The company has established a nomination policy to ensure board members possess the necessary skills and experience for future development[187]. - The company has implemented a written guideline for directors regarding securities trading, ensuring compliance with GEM listing rules[161]. Community Engagement and Social Responsibility - The company has been actively involved in community work and has received various accolades, including the Outstanding Medical Alumni Award from the Chinese University of Hong Kong[83]. - The group made charitable donations of HKD 884,000 for the year ending August 31, 2024, compared to HKD 724,000 in 2023[99]. - The company emphasizes its commitment to environmental, social, and corporate responsibility standards[146]. - The company has established strong relationships with employees and suppliers to ensure sustainable development[147]. - The company maintains a strong relationship with stakeholders, ensuring a sustainable business operation while balancing the interests of customers, suppliers, and employees[151]. Management and Board Composition - The company has a management team with extensive experience in security and operational management, including former high-ranking officials from the Hong Kong Police Force[85][86]. - The company’s senior management includes individuals with backgrounds in banking and finance, enhancing its operational capabilities[90][92]. - The company recognizes the benefits of board diversity in enhancing performance quality and has established measurable goals for achieving this diversity[188]. - The board composition considers various factors including gender, age, cultural and educational background, race, professional experience, skills, knowledge, and tenure[189]. - The Nomination Committee is responsible for reviewing and monitoring the achievement of measurable diversity goals at least once a year[191]. - All directors are accountable for preparing consolidated financial statements that fairly reflect the group's affairs, performance, and cash flows[196]. - The company emphasizes the importance of continuous professional development for directors and senior management[194].
ECI TECH(08013) - 2024 - 年度业绩