Financial Performance - The revenue for the year ending August 31, 2025, was approximately HKD 195,049,000, a decrease of about 2.60% compared to HKD 200,265,000 in the previous year[11][15] - The gross profit for the same period was approximately HKD 49,968,000, slightly up from HKD 49,811,000 in the previous year[11] - The net profit for the year was approximately HKD 2,638,000, a significant decrease from HKD 8,948,000 in the previous year[12][15] - The company's revenue decreased by approximately 2.60% from HKD 200,265,000 for the year ended August 31, 2024, to HKD 195,049,000 for the year ended August 31, 2025[24] - The sales cost reduced by about 3.57% from HKD 150,454,000 for the year ended August 31, 2024, to HKD 145,081,000 for the year ended August 31, 2025[25] - The administrative expenses increased by approximately 18.34% from HKD 41,089,000 for the year ended August 31, 2024, to HKD 48,623,000 for the year ended August 31, 2025[26] - The net profit for the year ended August 31, 2025, was approximately HKD 2,638,000, a decrease from HKD 8,948,000 for the year ended August 31, 2024[27] - As of August 31, 2025, the company had cash and bank balances of approximately HKD 17,413,000, a decrease of about HKD 14,519,000 compared to HKD 31,932,000 on August 31, 2024[32] - The company has a debt-to-equity ratio of 0.08 as of August 31, 2025, down from 0.10 in 2024[38] - As of August 31, 2025, the company has approximately HKD 10,753,000 available for distribution to shareholders[89] Dividend Policy - The company does not recommend the payment of a final dividend for the year ending August 31, 2025, consistent with the previous year[13] - The board does not recommend a final dividend for the year ending August 31, 2025, consistent with the previous year[82] Business Operations and Projects - The company is expanding its maintenance services, including a significant new maintenance contract for security alarm systems with the Hong Kong Police Force starting in March 2025[15] - Major ongoing projects include the installation of electronic systems at the Hong Kong International Airport and CCTV systems for the Drainage Services Department[15] - Completed projects during the review period include the installation of CCTV at Shun Fung Industrial Centre and upgrades to existing access control systems[15] - The company is currently providing security services at HKD 1,500,000 per month at the site in Discovery Bay[20] - The company aims to expand its electric vehicle charging stations, currently operating at Langham Place and Swiss Re Centre[21] - The company plans to enhance its ELV maintenance service contracts to strengthen customer relationships and increase market share[21] - The company is actively seeking opportunities to expand its security guard services in other regions[21] - The company has completed significant projects, including CCTV installations and upgrades to access control systems for various clients[19] - The company continues to invest in developing internal capabilities and collaborating with business partners for integrated security solutions[22] Corporate Governance - The company is committed to ensuring compliance with GEM listing rules and relevant regulations through its governance structure[57] - The company has a focus on environmental, social, and governance (ESG) compliance as part of its corporate development strategy[57] - The board consists of independent non-executive directors who provide independent opinions and oversight, enhancing corporate governance[59] - The company has a focus on attracting venture capital to invest in local innovation and technology startups through the HKD 2 billion Innovation and Technology Venture Fund established by the Hong Kong government[63] - The company is committed to enhancing its corporate governance through the independent opinions provided by its board members[68] - The company has a diverse board with members possessing backgrounds in law, finance, and healthcare management, which may contribute to a well-rounded strategic direction[65][68] - The company is involved in community work and has members who have received recognition for their contributions, enhancing its corporate social responsibility profile[70] - The company is actively engaged in the development of new strategies and governance practices to ensure compliance with regulatory standards[66] Risk Management - The company emphasizes the importance of risk management, with a commitment to evaluate the effectiveness of its risk management framework at least annually[49] - Major risks identified include strategic risks from changing competitive landscapes and market saturation, operational risks from subcontractor performance, and financial risks such as liquidity and credit risks[50] - The company plans to continue hiring external independent professionals to review its internal controls and risk management systems annually[49] - The board will review the need for internal audit functions at least once a year, considering the scale and complexity of the business[49] - The company has no internal audit function currently, opting for external professionals for cost-effectiveness[49] - The audit committee reviews the effectiveness of the risk management and internal control systems annually, ensuring resources and training are adequate[162] Shareholder Information - Sales to the top five customers accounted for 59.81% of total annual sales, with the largest customer contributing 32.28%[90] - Purchases from the top five suppliers represented 15.23% of total annual purchases, with the largest supplier accounting for 4.16%[90] - The company has adopted a share option scheme to incentivize directors and eligible employees, effective for 10 years from March 10, 2017[104][105] - The total number of share options that may be issued under the share option scheme cannot exceed 10% of the total shares issued at the time of listing, which is 160,000,000 shares[106] - As of August 31, 2025, there are no outstanding share options, warrants, or convertible instruments[108] - The company has confirmed compliance with the non-competition agreement established on February 17, 2017, by its controlling shareholders[117] - The company has maintained adherence to all relevant laws and regulations without any significant violations during the review period[121] - At least 25% of the company's total issued share capital is held by the public as of the report date[126] Employee and Management Information - The company has a total of 453 employees as of August 31, 2025, an increase from 383 employees in 2024[34] - The management team includes experienced individuals with backgrounds in technology, finance, and project management, enhancing the company's operational capabilities[51][57][59] - The company has a total of three senior management members earning below HKD 1,000,000 for the year ending August 31, 2025[144] - The company emphasizes the importance of continuous professional development for its directors, providing training and support[136] Sustainability and ESG Initiatives - The company has achieved ISO 9001:2015 QMS certification, demonstrating its commitment to quality management systems[191] - The company is focused on enhancing employee health and safety, implementing a framework that complies with ISO 45001 standards[191] - The company has established an efficient environmental management system certified by ISO 14001:2015, ensuring compliance with relevant laws and regulations[191] - The company is advancing its sustainability strategy by developing electric vehicle charging stations at key projects, reinforcing its long-term sustainability goals[191] - The group emphasizes the importance of integrating environmental, social, and governance (ESG) principles into its risk management system to pursue a sustainable business model[187] - The group has established a whistleblowing policy to responsibly handle reports of misconduct, ensuring fair treatment of whistleblowers[170] - The anti-bribery and anti-corruption policy is part of the corporate governance framework, demonstrating the group's commitment to ethical business practices[171] - The environmental, social, and governance report outlines the group's initiatives and performance in these areas, showcasing its commitment to sustainable development[180] - The group encourages stakeholders to provide feedback on its ESG report and sustainable development performance[186] Audit and Compliance - The company has appointed a new auditor, RSM Hong Kong, effective July 25, 2024, replacing the previous auditor[128] - The external auditor, RSM Hong Kong, received a total fee of HKD 650,000 for audit services for the year ending August 31, 2025[160] - The audit committee held two meetings during the year to discuss financial reporting and compliance procedures, and confirmed that the annual report complies with applicable standards and regulations[141] - The remuneration committee reviewed the compensation packages for directors and senior management, deeming them fair and reasonable for the year ending August 31, 2025[142] - The company has established a nomination policy to ensure board members possess the necessary skills and experience for future development[146] - The board consists of independent non-executive directors who oversee specific aspects of governance, including audit, remuneration, and nominations[139] - The audit committee is chaired by Mr. Xu Junhao and includes four independent non-executive directors[140] Board Diversity and Structure - The board of directors consists of seven members, with six male and one female, and approximately 77.92% of the entire employee team is male[135] - The company has adopted a diversity policy to enhance the board's composition and effectiveness[146] - The board diversity policy aims to enhance performance quality, considering factors such as gender, age, culture, education background, race, professional experience, skills, knowledge, and tenure[150] - The board's composition will be disclosed annually in the corporate governance report, adhering to GEM listing rules[152]
ECI TECH(08013) - 2025 - 年度业绩