Business Performance - The Group recorded total revenue of HK$261.1 million for the year ended 31 December 2024, reflecting a modest increase of 1.4% from HK$257.5 million in the previous year[28]. - Gross profit improved by HK$7.3 million or 5.4%, totaling HK$143.2 million, with a gross profit margin rising to 54.8% from 52.8% in 2023[28]. - Net profit attributable to shareholders decreased by HK$4.3 million, or 12.8%, to HK$29.1 million, impacted by share repurchases throughout the year[33]. - Basic earnings per share dropped by 11.5% to 11.95 HK cents, compared to 13.50 HK cents in 2023[33]. - The Group's revenue from Solutions and Integration Services reached HK$116.1 million, representing a growth of 13.2% compared to HK$102.8 million in the previous year[44]. - The Group's GETS business recorded high single-digit growth in both revenue and profit contributions during the reporting period, benefiting from increased import and export activities[52]. - The Group's investment segment incurred a loss of HK$3.5 million, compared to a loss of HK$1.0 million in the previous year, due to unfavorable market conditions and the sale of office premises for RMB2.6 million (approximately HK$2.8 million)[53]. - The Group's performance in Mainland China showed improvement compared to the previous year in the Integration Services business[51]. - The Group's total revenue increased by HK$3.6 million, or 1.4%, to HK$261.1 million for the reporting year, driven by growth in the Solutions Services business[61]. Product Development and Innovation - C&T's electronic tendering platform manages procurements worth billions of dollars annually, showcasing its critical role in the procurement process[8]. - The AI-powered HRM chatbot automates routine HR tasks, enhancing operational efficiency for clients[9]. - C&T's cloud-based Intelligence-as-a-Service platform provides 24/7 automated data monitoring and compliance oversight, addressing evolving cybersecurity threats[9]. - C&T's commitment to innovation is reflected in its AI-driven procurement solutions, which optimize business processes through compliance automation[9]. - Despite challenges, the Group continued to invest in product R&D, launching the cloud-native Pi-HCM platform, which received positive market feedback[38]. - The Group's new cloud-native human capital management software, Pi-HCM, received positive market feedback after its launch earlier this year[41]. - The enterprise software businesses achieved profit growth, driven by increased revenue and enhanced project delivery efficiency, particularly from the SaaS-based EPMS product, ProSmart[39]. - The Group's enterprise procurement management software, ProSmart, gained traction with new clients, including a government agency and various organizations in education and commerce[42]. Corporate Governance and Management - The Group emphasizes robust corporate governance and community engagement, earning recognition for sustainable practices[13]. - The Audit Committee, consisting of three independent non-executive directors, has been established to review and supervise the financial reporting process, risk management, and internal controls as of December 31, 2024[110]. - The Group is committed to maintaining high standards of corporate governance through the establishment of an Audit Committee and adherence to listing rules[110]. - The company has a strong commitment to high standards of corporate governance, emphasizing integrity, transparency, and accountability[139]. - The Board consists of four executive directors and three independent non-executive directors, with INEDs constituting more than one-third of the Board[141]. - The Group's management team includes individuals with significant academic qualifications and professional certifications in their respective fields[121][125]. - The Group's financial strategies are overseen by a director with over 30 years of experience in finance and administration in the IT industry[117]. - The Board believes that good corporate governance is essential for the company's success and enhancing shareholder value[139]. Financial Position and Liabilities - Current assets rose by HK$26.7 million, or 6.5%, to HK$434.6 million, driven by increases in trade receivables and cash balances[76]. - Current and non-current liabilities increased by HK$21.8 million, or 14.7%, to HK$170.3 million, mainly due to higher trade payables and lease liabilities[77]. - The Group's total liabilities as of December 31, 2024, were 25.3% of total assets, indicating a stable financial structure[92][95]. - The gearing ratio increased to 25.3% as of December 31, 2024, compared to 22.7% as of December 31, 2023[92][95]. - The Group had no bank borrowings as of December 31, 2024, consistent with the previous year[92][95]. Employee and Workforce Management - The Group employed 337 full-time employees and 10 part-time employees as of December 31, 2024, down from 343 full-time and 12 part-time employees the previous year[93][96]. - The workforce consists of 66% male and 34% female, indicating sufficient gender diversity for a company in the IT sector[176]. - The Company emphasizes the importance of continuous professional development for directors, providing necessary training and updates on regulatory requirements[178]. - All directors participated in appropriate continuous professional development during the year[179]. Future Outlook and Strategy - Management expects business momentum to be driven by cost-effective operations and focused go-to-market initiatives, with optimism about enhancing SaaS offerings[55]. - The Group anticipates significant growth in information security services due to rising concerns about cybersecurity and data privacy protection among organizations[50]. - The Group is actively exploring joint ventures and merger and acquisition opportunities to enhance operations and market reach[60]. Dividends and Shareholder Returns - The Group declared a final dividend of 5.5 HK cents per ordinary share, maintaining the same level as the previous year, resulting in total annual dividends of 11 HK cents[34]. - The Board proposed a final dividend of 5.5 HK cents per ordinary share, to be paid on June 24, 2025, to shareholders listed on June 11, 2025[109].
科联系统(00046) - 2024 - 年度财报