Financial Performance - For the six months ended September 30, 2022, the company reported revenue of approximately HKD 300.9 million, an increase of about 25.5% compared to HKD 239.7 million for the same period in 2021[11]. - Gross profit for the same period was approximately HKD 72.4 million, representing a growth of about 17.0% from HKD 61.9 million in the previous year[11]. - The company recorded a net loss attributable to owners of approximately HKD 18.3 million for the first half of the fiscal year 2023, compared to a net profit of HKD 98.9 million in the same period of fiscal year 2022[11]. - Excluding the impact of fair value changes in financial assets, the company achieved a net profit of approximately HKD 7.1 million for the first half of fiscal year 2023, compared to a net loss of HKD 1.3 million in the previous year[11]. - The total comprehensive loss for the period was approximately HKD 18.7 million, compared to a total comprehensive income of HKD 98.4 million in the same period last year[14]. - Basic and diluted loss per share for the first half of fiscal year 2023 was HKD (1.81), compared to earnings per share of HKD 9.84 in the previous year[14]. - The company reported a pre-tax loss of HKD 14,918,000 for the six months ended September 30, 2022, compared to a profit of HKD 101,933,000 in the previous year[56][67]. - The net loss attributable to shareholders for the six months ended September 30, 2022, was HKD 18,270,000, a significant decrease from a profit of HKD 98,913,000 in the same period last year[77]. Cash Flow and Liquidity - For the six months ended September 30, 2022, the net cash used in operating activities was HKD (15,053) thousand, a significant decrease compared to HKD 717 thousand in the previous year[26]. - The net cash used in investing activities was HKD (903) thousand, a decrease from HKD (44,941) thousand in the previous year, reflecting improved cash management[26]. - The net cash used in financing activities was HKD (2,207) thousand, a reduction from HKD 19,990 thousand in the previous year, showing a decrease in financing outflows[26]. - The cash and cash equivalents at the end of the period were HKD 30,497 thousand, down from HKD 48,817 thousand, reflecting a decrease in liquidity[26]. - The impact of exchange rate changes on cash and cash equivalents was HKD (466) thousand, compared to HKD (332) thousand in the previous year, highlighting currency volatility effects[26]. - As of September 30, 2022, the company's cash and cash equivalents were approximately HKD 30.5 million, down from HKD 49.1 million as of March 31, 2022[122]. Assets and Liabilities - As of September 30, 2022, total non-current assets amounted to HKD 237,738,000, a decrease of 9% from HKD 261,297,000 as of March 31, 2022[17]. - Current assets increased to HKD 322,286,000, up by 15.5% from HKD 279,046,000 as of March 31, 2022[17]. - Total liabilities increased to HKD 285,778,000, up from HKD 250,655,000, reflecting a rise of 14%[17]. - Net assets decreased to HKD 36,508,000 from HKD 28,391,000, indicating a growth of 28.5%[17]. - The company's total equity as of September 30, 2022, was HKD 146,252,000, down from HKD 164,611,000, a decline of 11.1%[19]. - Cash and cash equivalents decreased to HKD 30,497,000 from HKD 49,126,000, a decline of 37.9%[17]. - The company's total borrowings stood at HKD 39,793,000, an increase from HKD 37,021,000, representing a rise of 7.5%[17]. - The debt-to-equity ratio as of September 30, 2022, was approximately 47.4%, an increase from 43.4% as of March 31, 2022, indicating a rise in financial leverage[123]. Revenue Segments - Revenue from the cybersecurity products business was HKD 178,430 thousand, up from HKD 132,940 thousand, indicating a growth of 34.3%[40]. - The revenue from cybersecurity services was HKD 122,428 thousand, compared to HKD 106,804 thousand in the previous year, marking a growth of 14.6%[40]. - Revenue from the Hong Kong market was HKD 277,247,000, up from HKD 216,424,000 year-on-year, indicating a growth of 28%[62]. - The company achieved a record mid-term revenue exceeding HKD 300 million for the first half of the fiscal year, representing an annual growth of over 25% compared to the same period last year[103]. - The company's revenue increased by approximately HKD 61.2 million or 25.5% to HKD 300.9 million in the first half of the 2023 fiscal year, driven by strong demand for cybersecurity products and services[113]. Operational Efficiency and Strategy - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[11]. - The company plans to focus on expanding its cybersecurity and financial services segments to drive future growth[62]. - The company is expanding its cybersecurity product range to include "Sky Alliance," a leading digital risk protection solution provider, to meet emerging local demand for mainland cybersecurity products[104]. - The company is investing in partnerships with global and regional cybersecurity providers to offer solutions that generate quick returns on investment and reduce total ownership costs[109]. - The company anticipates that the demand for cybersecurity will remain strong and is transitioning to a subscription-based revenue model to enhance customer retention[109]. - The company has seen strong demand despite challenging macroeconomic conditions, indicating a favorable overall competitive environment[103]. Shareholder and Governance Matters - The company did not recommend the distribution of dividends for the first half of fiscal year 2023, consistent with the previous year[12]. - The company did not pay any dividends during the current period, compared to HKD (10,049) thousand in the previous year, indicating a shift in capital allocation strategy[26]. - The company has maintained sufficient public float during the first half of the 2023 fiscal year[183]. - The audit committee consists of three independent non-executive directors who reviewed the group's accounting principles and financial reporting matters[180]. - The company has adhered to corporate governance practices as outlined in the corporate governance code, except for a deviation regarding the roles of the chairman and CEO[186]. - The controlling shareholders confirmed they are not engaged in any competing business activities[179]. Employee and Stock Options - The total employee costs for the period were HKD 46,972,000, slightly down from HKD 48,251,000 in the previous year[67]. - Employee costs for the first half of the fiscal year 2023 were approximately HKD 47.0 million, compared to HKD 48.3 million for the same period in fiscal year 2022[143]. - The company had 130 employees as of September 30, 2022, a slight decrease from 133 employees a year earlier[143]. - The company adopted a share incentive plan on September 1, 2020, aimed at providing ownership opportunities and incentives to employees[146]. - The company has a stock option plan approved on March 23, 2017, allowing eligible participants to purchase shares as an incentive for their contributions[148]. - The total number of stock options exercised or canceled during the reporting period was 2,604,000, leaving 17,248,000 options unexercised[154]. - The company has granted stock options to directors and employees, with a total of 14,424,000 options held by employees as of September 30, 2022[154]. Leadership and Management - The board believes that the expansion into new businesses and diversification is crucial for the group's development[187]. - The board has appointed Mr. Lau Yui Ting as the best candidate to oversee and lead the group's broader business perspective beyond its core cybersecurity product distribution and services[187]. - The arrangement of Mr. Lau serving as both Chairman and CEO is expected to enhance the overall business planning and decision-making efficiency of the group[190]. - The board is confident that Mr. Lau's extensive experience and knowledge will strengthen the group's consistent leadership[190].
安领国际(01410) - 2023 - 中期财报