Financial Performance - The Group recorded a profit of approximately HK$7,198,000 for the Year, compared to a loss of approximately HK$21,335,000 in 2023[16] - The consolidated profit attributable to the owners of the Company amounted to approximately HK$2,151,000 for the Year, versus a loss of approximately HK$23,415,000 in 2023[16] - The financial results indicate a significant turnaround from losses in the previous year to profitability in the current year[16] - The Group's revenue for the Year was approximately HK$104,338,000, representing an increase of approximately 13.0% compared to HK$92,360,000 for 2023[60] - Gross profit increased by approximately 4.8% to approximately HK$71,245,000 for the Year from approximately HK$67,992,000 for 2023[61] - The Group's finance costs decreased by approximately 55% to approximately HK$45,000 for the Year from approximately HK$100,000 for 2023[62] - The Group recorded a net profit of approximately HK$7,198,000 for the Year, a significant turnaround from a net loss of approximately HK$21,335,000 in 2023[63] - The net profit attributable to owners of the Company was approximately HK$2,151,000 for the Year, compared to a net loss of approximately HK$23,415,000 for 2023[64] Revenue Streams - Revenue generated from the Software Business was approximately HK$83,019,000, representing about 79.6% of the Group's total revenue for the Year[19] - The revenue from the Corporate Management Solutions and I.T. Contract Services Business accounted for approximately 20.4% of the Group's total revenue[24] - The Software Business recorded a revenue of approximately HK$83,019,000, representing an increase of approximately 1.4% compared to 2023[33] - Revenue from the Corporate Management Solutions and I.T. Contract Services Business was approximately HK$21,319,000 in 2024, representing an increase of approximately 105.2% compared to HK$10,391,000 in 2023[45] - The B2C Online Sales Platform and B2B Product Trading Business reported no revenue in 2024, compared to approximately HK$122,000 in 2023, with a segment loss of approximately HK$988,000[47] - The Securities Investment Business recorded a segment profit of approximately HK$5,193,000 in 2024, a significant recovery from a loss of approximately HK$944,000 in 2023[53] Dividends - The Directors recommended a final dividend of HK$0.002 per share and a special dividend of HK$0.028 per share, totaling HK$0.030 per share for the Year, compared to Nil in 2023[17] - The Group recommended a final dividend of HK$0.002 per share and a special dividend of HK$0.028 per share, totaling HK$0.030 per share for the Year, compared to Nil in 2023[73] Business Operations - The Group's operations were impacted by global macro-economic uncertainties, affecting business activities[18] - The Software Business remained a key revenue stream and pillar business for the Group during the Year[18] - The Company operates in multiple sectors including Software Business, Corporate Management Solutions, I.T. Contract Services, B2C Online Sales, B2B Product Trading, and Securities Investment[18] - The Group continuously reviewed and upgraded various software products to adapt to fast-changing information technology[19] - The Group will continue to explore new business opportunities and expand distribution channels in emerging markets, particularly in the Asia-Pacific region[39] - The Group will continue to explore new technology applications and improve software products while expanding distribution channels[42] User Metrics - The Boom Max Group had more than 36 million new users in total, including new non-paying and active paying users, down from more than 42 million in 2023[39] - Boom Max Group's total new users exceeded 36,000,000 as of December 31, 2024, down from over 42,000,000 in 2023[42] Financial Position - As of December 31, 2024, the Group had cash and cash equivalents and pledged bank deposits of approximately HK$82,349,000 and net current assets of approximately HK$83,110,000[25] - As of December 31, 2024, the Group had total assets of approximately HK$278,105,000 and total liabilities of approximately HK$56,879,000, resulting in a gearing ratio of approximately 20.5%[72] - The Group had cash and cash equivalents and pledged bank deposits of approximately HK$82,349,000 as of December 31, 2024, slightly down from approximately HK$83,976,000 as of December 31, 2023[70] - The Group did not have any loans from financial institutions as of December 31, 2024, maintaining a stable capital structure[71] - The Group's trade and other receivables amounted to approximately HK$11,484,000 as of December 31, 2024, with collection potentially impacted by macroeconomic uncertainties and geopolitical instability[88] Risk Management - The management of each business division is responsible for monitoring operations and assessing related operational risks to implement the Group's risk management policies[87] - The Group conducts annual impairment reviews of goodwill and intangible assets, with more frequent assessments in case of unexpected events or environmental changes[86] - The Group's financial performance is closely monitored, particularly regarding cash-generating units that include goodwill and intangible assets[86] - The Group aims to minimize credit risk by closely monitoring credit exposure and ensuring adequate impairment losses for irrecoverable amounts[88] - The risk assessment process includes identifying risks through discussions with management and directors of subsidiaries[189] - Risks are categorized into low, medium, and high risk, with strategies developed for handling each category[195] - The Group's risk management system is designed to provide reasonable assurance against significant misstatements or losses[186] - Ongoing communication of monitoring results to the Board enables assessment of control effectiveness during the year[195] Corporate Governance - The Board comprises five members, including two executive Directors and three independent non-executive Directors, ensuring a balance of skills and experience[125] - The Board is collectively responsible for promoting the success of the Company by directing and supervising its affairs[136] - The Company has established formal procedures for the appointment, re-election, and removal of directors, ensuring transparency[153] - The Company has arranged appropriate insurance coverage for legal actions against the directors[135] - The total fee paid to the Company's auditor for audit services was HK$1,100,000, and for non-audit services was HK$160,000, totaling HK$1,260,000[181] - The Board is responsible for formulating the Group's risk management and internal control systems and reviewing their effectiveness at least annually[182] - The Company has received written annual confirmation from all independent non-executive directors regarding their independence, in compliance with GEM Listing Rules[152] - The independent non-executive Directors' appointments include Ms. Wong Chi Yan for a term of 3 years starting from April 19, 2022, and Mr. Chan Yung and Mr. Cheng Hong Kei for a term of 3 years starting from November 24, 2023[158] Strategic Focus - The Group's strategic focus includes enhancing user experience through software product upgrades[19] - The Group is committed to maintaining a balance between risk and return while strategically investing in growth opportunities[26] - The Group will continue to enhance its technology capabilities and optimize business strategies to ensure sustainable growth, with a focus on software products combating cyber threats[117] - The Group acknowledges the impact of geopolitical tensions and tightening global financial conditions on consumer confidence and market sentiment, which may create an unstable operating environment[118] - The Group aims to maintain a balance of risks and opportunities to achieve sustainable growth and returns to shareholders[119] Name Change - The Board proposed a name change from "GET Holdings Limited" to "Famous Tech International Holdings Limited," effective June 27, 2024, to better reflect the Group's focus on technology[89] - The new company name aims to enhance brand image and align with the Group's strategy to meet evolving customer needs in the competitive technology industry[95] Employee Metrics - As of December 31, 2024, the Group had 23 employees, with total staff costs approximately HK$14,728,000, an increase from approximately HK$12,056,000 in 2023[110] Litigation - The Group is involved in ongoing litigation related to Perfect Growth Limited, which may impact its financial position[96]
智易控股(08100) - 2024 - 年度财报