Financial Performance - The company recorded a profit attributable to equity shareholders of approximately HKD 11 million for the fiscal year 2023[6]. - The group's revenue for the fiscal year 2023 was approximately HKD 877.3 million, an increase of about HKD 164.9 million or 23% compared to the fiscal year 2022[14]. - The group recorded a net profit of approximately HKD 22.7 million for fiscal year 2023, driven by increased revenues from key service segments[22]. - The net profit for the fiscal year 2023 was approximately HKD 22.7 million, representing an increase of about HKD 3.8 million or approximately 20% compared to HKD 18.9 million in 2022[33]. - The group's gross profit for fiscal year 2023 was approximately HKD 173.7 million, a 33% increase from HKD 131.0 million in fiscal year 2022, with a gross margin rising from about 18% to 20%[26]. Revenue Segmentation - Revenue from the IT infrastructure solutions segment significantly increased, offsetting the decline in revenue from the IT application and solution development services segment[8]. - Revenue from the IT infrastructure solutions segment increased by approximately 48% to HKD 613.7 million, accounting for about 70% of total revenue in fiscal year 2023[16]. - The IT application and solution development segment's revenue decreased by approximately 44% to HKD 71.5 million, representing about 8% of total revenue[15]. - The IT maintenance and support services segment generated revenue of approximately HKD 165.0 million, an increase of about 12% from HKD 147.4 million in fiscal year 2022[20]. - The IT secondment services segment's revenue rose by approximately 18% to HKD 27.1 million, accounting for about 3% of total revenue[19]. Cash and Assets - The company maintained a strong cash position with approximately HKD 217 million[6]. - Current assets as of March 31, 2023, were approximately HKD 576.1 million, an increase from HKD 448.0 million in 2022, with cash and cash equivalents at approximately HKD 216.9 million[44]. - The total value of investment properties as of March 31, 2023, was approximately HKD 187.9 million, accounting for about 22% of the group's total assets[43]. - The group's liquidity ratio as of March 31, 2023, was approximately 2.3 times, down from 2.5 times in 2022[45]. Cost Management - The company effectively controlled costs, particularly in hardware and software procurement, which helped manage labor costs[8]. - General and administrative expenses increased by approximately 34% to HKD 128.8 million, primarily due to higher employee costs[27]. - The total employee compensation for the fiscal year 2023 is approximately HKD 160.2 million, an increase from HKD 136.0 million in 2022, with a total of 284 full-time employees[72]. Strategic Initiatives - The company plans to launch the first phase of marketing and promotion for the CKB project in Malaysia in the second half of 2023, expecting stable rental income and online transaction platform service revenue[7]. - The company aims to diversify and expand its current business and geographical portfolio to prepare for future opportunities[10]. - The company is committed to investing in new technologies such as big data and artificial intelligence to seize emerging business opportunities[10]. - The management is exploring the establishment of an IT talent team in the Greater Bay Area to address the talent shortage in Hong Kong's IT industry[10]. Market Outlook - The management remains cautiously optimistic about business prospects as the market gradually recovers from the impacts of COVID-19[10]. - The management expresses confidence in achieving sustainable and profitable growth in the upcoming fiscal year despite anticipated challenges in the business environment[22]. - The company emphasizes the importance of innovation as a steadfast direction for growth in a changing market environment[10]. Risks and Challenges - The company faces risks related to project overruns and delays in its IT application and solution development projects, which could significantly impact its business and financial performance[92]. - The company relies heavily on contracts with major clients, and any decline in service demand from these clients could adversely affect its business and financial condition[94]. - The company has experienced a competitive bidding process for its IT application and solution development services, increasing the risk of project overruns and lower profitability[92]. - The group faces increased foreign exchange risks following the acquisition of CKB and will consider hedging significant foreign currency risks as necessary[68]. Corporate Governance - The company has maintained compliance with the corporate governance code throughout the fiscal year ending March 31, 2023[168]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors as of the report date[173]. - The company emphasizes the importance of transparency and accountability in its corporate governance practices[167]. - The company has adopted a board diversity policy, considering measurable aspects such as gender, age, ethnicity, knowledge, and tenure[180]. Shareholder Information - The company did not recommend any final dividend for the fiscal year ending March 31, 2023, consistent with the previous year[101]. - As of March 31, 2023, the distributable reserves available for shareholders were approximately HKD 346.3 million, compared to HKD 346.0 million in 2022[108]. - The company maintains sufficient public float as per listing rules[157]. - The company has no significant violations of applicable laws or regulations in the fiscal year 2023[99].
扬科集团(01460) - 2023 - 年度财报