Financial Performance - Revenue for the year ended June 30, 2022, was HK$127,755,000, a decrease of 8.6% from HK$139,069,000 in 2021[6] - Adjusted profit for the year was HK$4,558,000, down 19.6% from HK$5,669,000 in the previous year[6] - Attributable profit for the year was HK$4,558,000, compared to HK$5,689,000 in 2021, reflecting a decrease of 19.9%[6] - Earnings per share for the year was 2.06 HK cents, down from 2.62 HK cents in 2021, representing a decline of 21.4%[6] - Profit attributable to owners of the Company for the year ended June 30, 2022, was approximately HK$4.6 million, down from approximately HK$5.7 million in the previous year, reflecting an 8% decrease in revenue despite an 11% reduction in general and administrative expenses[30] - Earnings per share decreased to HK2.06 cents from HK2.62 cents in the previous year[30] Cash and Assets - Cash and cash equivalents as of June 30, 2022, were HK$108,260,000, a decrease from HK$118,848,000 in 2021[6] - Total assets as of June 30, 2022, were HK$210,187,000, while total equity was HK$133,279,000[6] - Current assets were approximately HK$159 million, a decrease from approximately HK$178 million in 2021, representing a decline of about 10.67%[158] - Current liabilities amounted to approximately HK$75 million, down from approximately HK$91 million in 2021, indicating a reduction of about 17.58%[158] - The Group maintained net current assets of approximately HK$84 million, slightly down from approximately HK$87 million in 2021, a decrease of about 3.45%[158] - The Group had no borrowings as of June 30, 2022, maintaining a zero gearing ratio[158] Cost Management - Distribution costs for the year were approximately HK$24.4 million, a decrease of about 5% from approximately HK$25.7 million in the previous year, primarily due to the negative impact of COVID-19 on travel and the cancellation of trade shows[30] - General and administrative expenses decreased by approximately 11% to approximately HK$46 million from approximately HK$51.8 million in the previous year, attributed to prudent cost control measures[30] - Finance costs decreased to approximately HK$629,000 from approximately HK$1.1 million in the previous fiscal year[31] Strategic Focus and Development - The company is focusing on software development and enhancement, transitioning existing customers from traditional RF solutions to smartphone-based secure messaging[17] - The company aims to adapt to the challenges posed by the pandemic and rising inflation through active measures and strategic adjustments[17] - The management is committed to creating more revenue in a low growth environment, indicating a focus on resilience and innovation[17] - The Group is focusing on expanding its market share and aligning with government strategies to protect vulnerable populations and maintain economic stability[21] - The Group is investing in R&D, particularly in cloud-based solutions, to enhance its competitive advantage in the healthcare sector[35] Partnerships and Innovations - The partnership with Amazon Web Services (AWS) has enabled the Group to offer a reliable cloud platform with over 99.9% availability, supporting the migration of its i-Message solution to the cloud[38] - The company has successfully transitioned its Multitone i-Message solution to the cloud, leveraging a partnership with Amazon Web Services (AWS) to provide a reliable cloud platform for existing healthcare clients[41] - The next generation EkoTek Hub was released in Q1 2022, enabling the deployment of larger EkoTek solutions that support a greater number of devices[46] - The largest EkoTek solution ever deployed in the UK was successfully implemented at Camden & Islington Mental Healthcare NHS Trust, leading to recognition as the Best Mental Health Solution at the Health Tech Digital Awards 2022[47] - The successful innovation in the EkoTek and EkoCare product lines has led to high-profile contracts in the mental healthcare market[45] Economic Outlook - Global economic growth is forecasted to slow from 6.1% in 2021 to 3.2% in 2022, with significant downgrades in Europe due to the war in Ukraine and tighter monetary policy[132][134] - Global inflation is anticipated to reach 6.6% in advanced economies and 9.5% in emerging markets in 2022, reflecting upward revisions of 0.9 and 0.8 percentage points respectively[132][134] - The risks to the economic outlook are overwhelmingly tilted to the downside, indicating potential challenges ahead[132][134] Property Acquisition - The company has acquired a property in the UK for £575,000 through its wholly-owned subsidiary, Multitone Electronics PLC[123] - The acquisition allows Multitone to better control the development of the area around its head office and provides an opportunity to expand office premises[131][133] - Multitone plans to hold the property for investment purposes, leasing it out for rental income while retaining a small portion for its own use[131][134] Management and Governance - Mr. Chan has held 52.46% equity interest in the company through his controlled entity, Cheng Chuang Investment Limited, with 136,628,444 shares as of the report date[186] - Mr. Liu has over 35 years of professional experience in finance and accounting, serving as a non-executive director since October 2020[189] - Ms. To has approximately 10 years of legal experience and has been a non-executive director since July 2017[190] - Mr. Leung has extensive experience in accounting and finance, currently serving as an independent non-executive director since October 2017[193] - The CEO, Mr. Edward Paterson, prioritizes the development of new technologies and solutions in the Multitone product portfolio[200]
看通集团(01059) - 2022 - 年度财报