Financial Performance - WEBX International Holdings Company Limited reported its audited financial results for the year ending December 31, 2025[3]. - For the fiscal year ending December 31, 2025, the company reported revenue of HKD 134,958,000, an increase of 12.4% from HKD 120,028,000 in 2024[14]. - The gross profit for 2025 was HKD 25,779,000, representing a gross margin of 19.1%, compared to a gross profit of HKD 19,720,000 in 2024[14]. - The company experienced a net loss of HKD 4,423,000 in 2025, an improvement from a net loss of HKD 17,510,000 in 2024[14]. - The cash flow from operating activities for 2025 was a negative HKD 48,667,000, compared to a negative HKD 5,774,000 in 2024[14]. - The total current assets increased to HKD 199,382,000 in 2025 from HKD 159,680,000 in 2024, indicating improved liquidity[14]. - The group recorded a net cash outflow from operating activities of approximately HKD 48,667,000 in fiscal year 2025, compared to HKD 5,774,000 in fiscal year 2024, mainly due to significant increases in deposits, prepayments, and inventory[38]. - The group’s financing costs decreased by HKD 398,000 or 34.8% from HKD 1,143,000 in fiscal year 2024 to HKD 745,000 in fiscal year 2025, attributed to a reduction in bank overdrafts and other loans[35]. - The group’s administrative and other expenses increased by HKD 983,000 or 4.4% from HKD 22,263,000 in fiscal year 2024 to HKD 23,246,000 in fiscal year 2025[31]. - Trade receivables impairment losses decreased by approximately HKD 3,626,000 or 83.1% from HKD 4,363,000 in fiscal year 2024 to HKD 737,000 in fiscal year 2025, with no new individual default receivables identified[32]. Business Segments - The cloud computing and internet traffic services segment saw significant growth, driven by the rapid development of artificial intelligence, with the global AI cloud market projected to reach USD 88.36 billion by 2025[16]. - The functional knitted fabrics, apparel, and yarn sales segment generated revenue of approximately HKD 105,476,000 in 2025, a decrease of 4.3% from HKD 110,238,000 in 2024[21]. - The revenue from cloud computing and internet traffic services for the fiscal year 2025 was approximately HKD 29,482,000, an increase of HKD 19,692,000 or 201.1% compared to HKD 9,790,000 in fiscal year 2024[22]. - Total revenue for the group increased by HKD 14,930,000 or 12.4% from HKD 120,028,000 in fiscal year 2024 to HKD 134,958,000 in fiscal year 2025, primarily driven by the growth in cloud computing and internet traffic services[25]. Corporate Governance - The board of directors includes two executive directors and four non-executive directors, ensuring a diverse governance structure[4]. - The company has committed to transparency and accuracy in its financial reporting, as stated by the board of directors[5]. - The company is focused on maintaining compliance with GEM listing rules, ensuring accountability and governance[9]. - The board has established various committees, including audit and remuneration committees, to enhance corporate governance practices[13]. - The company is committed to maintaining effective corporate governance through independent oversight by its board members[69]. - The board consists of 2 executive directors, 2 non-executive directors, and 3 independent non-executive directors, ensuring a balance of skills and experience[89]. - The company emphasizes maintaining high standards of business ethics and corporate governance across all operations[85]. - The company has implemented anti-corruption and whistleblowing policies to enhance internal fairness[85]. - The board confirmed its responsibility for preparing the financial statements for the year ending December 31, 2025, with no significant uncertainties affecting the company's ability to continue as a going concern[125]. - The company has adopted the securities trading code as per GEM listing rules, with all directors confirming compliance for the year ending December 31, 2025[126]. Management and Personnel - Mr. Li Jian appointed as Executive Director on August 28, 2023, responsible for formulating new strategies and developing competitive advantages[61]. - Mr. Chen Guomin appointed as Executive Director on November 14, 2023, tasked with identifying suitable investors for strategic partnerships[62]. - Mr. Huang Jixiong transitioned from Executive Director to Non-Executive Director effective December 19, 2025, after a reallocation of responsibilities within the management team[63]. - The company had 67 employees as of December 31, 2025, with total employee costs amounting to HKD 17.53 million for the fiscal year 2025, compared to HKD 15.61 million for the fiscal year 2024[60]. - The company has implemented a training program for employees covering management skills, sales, marketing, and quality control[172]. - The management team has extensive experience in capital markets and investment banking, enhancing the company's strategic capabilities[62]. Risk Management - The company is closely monitoring foreign exchange risks, particularly due to transactions in currencies such as RMB and USD, but considers the risk between HKD, USD, and RMB to be not significant[53]. - The company has established internal policies to strictly prohibit unauthorized use of insider information and has communicated these policies to all employees[141]. - The board conducts annual reviews of the effectiveness of risk management and internal control systems, with no significant issues identified as of December 31, 2025[142]. - The company categorizes risks as low, medium, and high, and determines strategies for risk handling, including developing risk registers and internal control audit plans[143]. Shareholder Relations - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of its business and strategies[153]. - Shareholders can submit written inquiries to the board or company secretary, and the company generally does not handle oral or anonymous inquiries[151]. - The company encourages shareholders to attend the Annual General Meeting, where the chairman and auditors will be present to address questions[153]. - The company will disclose voting results of resolutions presented at the Annual General Meeting on its website and the stock exchange's website[146]. Future Plans - The company plans to maintain a conservative financial position while exploring new business opportunities in artificial intelligence to enhance long-term corporate value[17]. - The company aims to optimize raw material utilization and production efficiency to maintain core profit margins amid a challenging economic environment[15]. - The company plans to allocate resources to further develop cloud computing and internet traffic services, including agreements with suppliers for additional computing resources[41]. - The group plans to actively explore artificial intelligence initiatives as a significant new business opportunity to expand its revenue base and enhance long-term corporate value[23].
智云国际控股(08521) - 2025 - 年度业绩