Financial Performance - The company recorded revenue of approximately HKD 31.2 million for the year ended December 31, 2024, a decrease of about 17.1% compared to HKD 37.6 million for the year ended December 31, 2023[14]. - The loss attributable to owners of the company for the year ended December 31, 2024, was approximately HKD 2.7 million, a decrease of about 241.5% from a profit of HKD 1.9 million for the year ended December 31, 2023[16]. - The group's revenue for the year ended December 31, 2024, was approximately HKD 31.2 million, a decrease of about 17.1% from HKD 37.6 million in the previous year, primarily due to a significant decline in revenue from front-end trading solutions[18]. - Revenue from front-end trading solutions decreased by approximately 10.8% to HKD 15.5 million, down from HKD 17.3 million, attributed to adverse business and economic conditions[18]. - Revenue from installation and customization services fell by approximately 30.0% to HKD 3.2 million, down from HKD 4.6 million, mainly due to reduced demand for customization services[18]. - The group reported a pre-tax loss of approximately HKD 2.9 million for the year ended December 31, 2024, a decrease of about 251.6% compared to a pre-tax profit of HKD 1.9 million in the previous year, driven by a revenue decline of approximately HKD 6.4 million[20]. - The company reported a total revenue of approximately HKD 55,639,000 as of December 31, 2024, compared to HKD 54,952,000 in 2023, indicating a year-on-year increase of about 1.25%[65]. - The company reported a total revenue for the year ended December 31, 2024, of HKD 31,190,000, a decrease of 17.5% compared to HKD 37,632,000 in 2023[167]. - Operating loss for the year was HKD 2,701,000, compared to an operating profit of HKD 2,029,000 in the previous year[167]. - The company reported a loss attributable to owners of the company of HKD 2,715,000, compared to a profit of HKD 1,919,000 in 2023[167]. Employee and Operational Costs - Employee costs for the year ended December 31, 2024, were approximately HKD 21.6 million, a decrease of about 7.0% from HKD 23.2 million in the previous year, mainly due to an increase in capitalized amounts[22]. - Other operating expenses increased by approximately 12.3% to HKD 11.1 million, up from HKD 9.8 million in the previous year[25]. - As of December 31, 2024, the group had 53 full-time employees, with total employee benefits expenses amounting to approximately HKD 21.6 million, a decrease from HKD 23.2 million in 2023[39]. - The total employee benefits expenses reflect a strategic approach to maintaining a competitive workforce while managing costs[39]. - Employee costs decreased to HKD 21,555,000 from HKD 23,181,000, reflecting a reduction of 7.0%[167]. Corporate Governance and Management - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced governance structure[111]. - The company has adopted the corporate governance code as per GEM listing rules, ensuring compliance and transparency in its operations[110]. - The board is responsible for overall development, strategic planning, and monitoring business performance, with regular meetings to review significant acquisitions and financial results[112]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, to enhance governance efficiency[119]. - The chairman and CEO roles are held by different individuals, aligning with corporate governance best practices[118]. - The company has established compliance procedures to ensure adherence to applicable laws and regulations, particularly those significantly impacting the group[103]. - The company has implemented a continuous professional development program for directors, focusing on their roles and responsibilities[117]. - The company has established a governance framework that includes regular meetings and training for directors and senior management[128]. Risk Management - The group faced various financial risks, including credit risk, liquidity risk, and interest rate risk, which could significantly impact its business and financial condition[29]. - The company has established a risk management and internal control system, which includes identifying, assessing, and mitigating risks to protect assets and shareholder interests[135]. - An independent external professional has been appointed to conduct an annual review and assessment of the risk management and internal control systems for the year ending December 31, 2024[139]. - The board and audit committee have reviewed the internal control assessment report and believe the risk management and internal control systems are sufficient and effective[140]. Shareholder Information - The company has not declared any final dividends for the year ending December 31, 2024, consistent with the previous year where no dividends were declared[56]. - The company’s reserves available for distribution to shareholders as of December 31, 2024, were approximately HKD 55,639,000, showing a slight increase from the previous year's reserves[65]. - Shareholders have the right to request a special general meeting if they hold at least 10% of the company's paid-up capital[144]. - The board will regularly review the company's dividend policy, considering various factors including operational cash flow and market conditions[56]. Technology and Innovation - The company is focusing on the development of artificial intelligence (AI) technology, specifically its proprietary eBrAIny AI technology, to enhance market timing for liquid assets across various markets[14]. - The integration of AI solutions with internal servers aims to optimize daily operations and improve efficiency[14]. - The company plans to continue exploring commercial applications of AI technology to drive future growth[17]. - The company aims to capture future opportunities for sustainable growth and long-term shareholder benefits through technological and innovative advancements[17]. Financial Position - The group recorded a net current asset value of approximately HKD 37.4 million as of December 31, 2024, down from HKD 41.0 million in the previous year[28]. - The group had no significant capital commitments or contingent liabilities as of December 31, 2024[34]. - The group incurred intangible asset capitalization of approximately HKD 3.3 million for the year ended December 31, 2024, compared to HKD 1.1 million in 2023[39]. - The company is committed to evaluating its ability to continue as a going concern, with disclosures related to this assessment included in the financial statements[165]. - The total liabilities increased from HKD 3,925,000 to HKD 6,591,000, reflecting an increase of about 68.0%[169]. - The net asset value decreased from HKD 62,568,000 to HKD 60,380,000, a decline of approximately 3.5%[169]. Compliance and Transparency - The company is committed to maintaining high transparency with investors through various communication channels, including quarterly, interim, and annual reports[150]. - The independent auditor's report confirmed that the consolidated financial statements reflect the group's financial position accurately as of December 31, 2024[153]. - The company has established a platform for public access to financial information and other relevant data on its website[148]. - The board believes that the shareholder communication policy has been effectively implemented during the relevant period[148]. Share Options and Incentives - The stock option plan allows for the issuance of up to 123,000,000 shares, which is 10% of the company's issued shares as of the report date[85]. - The maximum number of stock options that can be granted to any participant in a 12-month period is limited to 1% of the company's issued shares[85]. - The stock incentive plan allows for the acquisition of shares through market purchases or subscription of new shares[88]. - A total of 5,040,000 incentive shares were granted to 13 selected individuals on May 13, 2024, with 2,520,000 shares vesting on December 31, 2024, and the remaining 2,520,000 shares vesting on December 31, 2025[89]. - The company has not granted any stock options since the adoption of the plan[86]. Market and Economic Conditions - The macroeconomic environment is expected to remain uncertain due to ongoing geopolitical developments and rapid technological innovations[17].
电子交易集团(08036) - 2024 - 年度业绩