Financial Performance - The company recorded revenue of approximately HKD 38.6 million for the year ended December 31, 2022, a decrease of about 7.3% compared to HKD 41.6 million for the previous year[8]. - Profit attributable to owners increased by approximately 503.1% to HKD 2.0 million, up from HKD 0.3 million in the previous year[8]. - The decrease in revenue was primarily due to a significant reduction in installation and customization services, which fell by approximately 22.7% to HKD 4.2 million[13]. - Revenue from front office trading services decreased by approximately 6.1% to HKD 18.5 million, attributed to unfavorable business and economic conditions[13]. - The group's profit before tax for the year ended December 31, 2022, was approximately HKD 2.0 million, an increase of about 752.4% compared to approximately HKD 200,000 for the year ended December 31, 2021[17]. - The group's net profit attributable to owners for the year ended December 31, 2022, reached approximately HKD 2.0 million, an increase of about 503.1% from approximately HKD 0.3 million for the year ended December 31, 2021[23]. - Total revenue for the year ended December 31, 2022, was HKD 38,584,000, a decrease of 7.4% from HKD 41,631,000 in 2021[170]. - Operating profit increased significantly to HKD 2,084,000 from HKD 356,000, marking a growth of 485.1%[170]. - Profit attributable to owners of the company for the year was HKD 1,972,000, compared to HKD 327,000 in the previous year, representing a substantial increase of 503.1%[170]. - Basic earnings per share rose to HKD 0.18 from HKD 0.03, reflecting a growth of 500%[170]. Cost Management - Employee costs for the year ended December 31, 2022, were approximately HKD 23.7 million, a decrease of about 4.3% from approximately HKD 24.8 million for the year ended December 31, 2021[19]. - Other operating expenses for the year ended December 31, 2022, were approximately HKD 9.2 million, a decrease of about 33% from approximately HKD 13.7 million for the year ended December 31, 2021[21]. - The company will continue to adopt a prudent approach to cost control and risk management in response to external environmental changes[12]. Strategic Initiatives - The company plans to focus on expanding its wealth management solution customer base and improving user trading applications[12]. - The company aims to expand its management cloud services to local brokerage clients as part of its growth strategy[12]. - The company has secured a procurement contract for an IT system optimization project with a leading information and communication technology solutions provider in China[8]. - The company anticipates a more optimistic market sentiment with the easing of pandemic controls and the reopening of borders in mainland China[12]. Shareholder Information - The distributable reserves available to the company's owners as of December 31, 2022, were approximately HKD 55,585,000, a decrease from HKD 58,394,000 in the previous year[70]. - Sales to the top five customers accounted for approximately 25.2% of total sales for the year, up from 23.6% in the previous year, with the largest customer contributing about 7.1%[72]. - Purchases from the top five suppliers represented approximately 94.7% of total purchases, a slight decrease from 95.9% in the previous year, with the largest supplier accounting for about 39.1%[72]. - The company did not recommend a final dividend for the year ended December 31, 2022, consistent with the previous year[61]. Governance and Compliance - The company has established compliance procedures to ensure adherence to applicable laws and regulations, with regular reviews by the board[106]. - The company has appointed New Baili Finance Limited as its compliance advisor to provide guidance on compliance with applicable laws and GEM Listing Rules[104]. - The board of directors consists of five members, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[114]. - The company has adopted the corporate governance code as per GEM listing rules, ensuring compliance and transparency in its operations[113]. - The independent auditor, KPMG, was appointed to replace the previous auditor, ensuring continuity and compliance in financial reporting[110]. Risk Management - The company has established a risk management and internal control system that includes identifying, assessing, and mitigating risks to protect assets and shareholder interests[140]. - The risk management process involves identifying, assessing, responding to, monitoring, and reporting risks, with the board prioritizing identified risks[141]. - An independent professional has been appointed to review the effectiveness of the risk management and internal control systems for the year ended December 31, 2022[144]. Research and Development - The company has established an internal R&D team, hiring 20 employees by the end of 2022 to enhance its financial solutions[43]. - The company has completed the establishment of its R&D center in Shenzhen, China, which became operational by the end of 2020[45]. - The company believes that maintaining its technical capabilities is crucial for competitive advantage and requires more funding for R&D development[43]. - The company has made a human resource investment of HKD 1.09 million by hiring an experienced business analyst[41]. Financial Position - Total assets amounted to HKD 105,768,000, while total liabilities were HKD 44,740,000, resulting in a net asset value of HKD 61,028,000[173]. - Cash and cash equivalents increased to HKD 23,325,000 from HKD 19,713,000, showing a growth of 18.3%[173]. - The company reported a decrease in other operating expenses to HKD 9,197,000 from HKD 13,724,000, a reduction of 33.3%[170]. - The company’s total equity as of December 31, 2022, was HKD 61,028,000, an increase from HKD 59,550,000 at the end of the previous year, reflecting a growth of approximately 2.5%[174].
电子交易集团(08036) - 2022 - 年度财报