Financial Performance - Daohe Global's revenue increased by approximately 46.9%, from approximately US$42.7 million in 2020 to approximately US$62.6 million for the year ended 31 December 2021[22] - The trading and supply chain management services business revenue grew by approximately 50.5%, rising from approximately US$19.7 million in 2020 to approximately US$29.6 million in 2021[23] - The online social platforms business revenue surged by approximately 43.7%, climbing from approximately US$23.0 million in 2020 to approximately US$33.0 million in 2021[23] - Gross profit increased by approximately 64.2% to approximately US$20.9 million in 2021, up from approximately US$12.7 million in 2020[24] - The Group achieved a profit of approximately US$4.1 million in 2021, a turnaround from a loss of approximately US$3.5 million in 2020[27] - Revenue from trading and supply chain management services rose by approximately 50.5% to approximately US$29.6 million in 2021, accounting for approximately 47.3% of total revenue[42] - Revenue from online social platforms grew by approximately 43.7% year-on-year, rising from approximately US$23.0 million in 2020 to approximately US$33.0 million in 2021[43] - Revenue from gamified social and online entertainment soared by approximately 90.1% year-on-year to approximately US$27.0 million in 2021[44] Operational Insights - The management anticipates steady growth in trading and supply chain management services in the first half of 2022 based on the number of orders received[11] - The management expects demand for trading and supply chain management services to remain high in the first half of 2022, despite challenges from the Omicron variant and global supply chain disruptions[60] - The online social platforms segment showed resilience in 2021, driven by the claw crane mobile online game, although recent COVID-19 surges may impact user spending[61] - The Group plans to continue exploring partnerships with toy designers and IP providers to enhance its pop toy business, which is still in the preliminary development stage[61] - Daohe Global plans to invest more resources in the development of the claw crane mobile online game and expand its unique pop toys product offerings[15] - The trend toy business is still in its early development stage, but management believes it has significant growth potential in the medium to long term, leading the company to allocate more resources to this area[64] Financial Position - The Group's cash and cash equivalents increased to approximately US$16.1 million as of December 31, 2021, up from approximately US$12.2 million in 2020[49] - As of December 31, 2021, the Group's current ratio was approximately 1.5, and the gearing ratio was approximately 0.11, with interest-bearing borrowings of approximately US$1.2 million and total equity of approximately US$11.0 million[50] - The Group's net asset value increased to approximately US$11.0 million as of December 31, 2021, compared to approximately US$6.9 million in 2020[50] - Trade receivables amounted to approximately US$8.0 million as of December 31, 2021, an increase from approximately US$3.7 million in 2020, with gross trade receivables aged over 90 days at approximately US$2.3 million[50] - Other income decreased by approximately US$1.6 million to approximately US$0.8 million in 2021, due to a one-off reversal of provisions in 2020[28] - Operating expenses increased by approximately 4.0% to approximately US$17.7 million in 2021, primarily due to higher personnel and marketing costs[26] Governance and Compliance - The company has a strong governance structure with independent non-executive directors overseeing key committees, ensuring compliance and strategic direction[84] - The Company has complied with all applicable Code Provisions of the Corporate Governance Code for the year ended December 31, 2021, except for certain deviations discussed in the report[105] - The Company has established mechanisms to ensure independent views and input are available to the Board, including strengthening the recruitment process for independent non-executive Directors[110] - The Company has adopted a Board Diversity Policy to achieve diversity on the Board, recognizing its importance in maintaining an effective Board and enhancing corporate governance standards[115] - The Board aims to achieve gender diversity by appointing one female director on or before December 31, 2024[123] - The Company has confirmed compliance with the Model Code for Securities Transactions by Directors throughout the year ended December 31, 2021[106] - The Company has established written guidelines for securities transactions by relevant employees likely to possess unpublished inside information[106] Management and Board Structure - The Board currently has five committees to assist in governance and oversight functions[136] - The roles of Chairman and CEO are segregated, with Mr. Zhou Xijian serving as Chairman and Mr. Wong Hing Lin, Dennis as CEO[182] - The Company has arranged appropriate insurance coverage for directors' and officers' liabilities against legal actions[125] - The Company has issued formal letters of appointment to its independent non-executive directors, outlining key terms of their appointments[186] - Each newly appointed Director receives a comprehensive induction to ensure understanding of the Group's business and operations[192] - The Company provides regular updates and presentations on changes in the business and regulatory environments to the Directors[198] - The Company continues to consider diversity perspectives in hiring for senior management positions[123]
道和环球(00915) - 2021 - 年度财报