Financial Performance - The company reported a revenue of approximately HKD 617.6 million for the year ended December 31, 2022, a decrease of about HKD 102.9 million or 14.3% compared to the previous year [8]. - The gross profit margin declined from 11.7% for the year ended December 31, 2021, to 9.4% for the year ended December 31, 2022, a drop of 2.3 percentage points [8]. - The company recorded a revenue decrease of approximately HKD 102.9 million or 14.3% to about HKD 617.6 million for the year ended December 31, 2022, resulting in a net loss of approximately HKD 4.0 million compared to a profit of HKD 8.7 million in the previous year [17]. - The gross profit decreased by approximately HKD 26.0 million or 30.8% to HKD 58.3 million, with a gross margin reduction of 2.3 percentage points to 9.4% due to rising employee costs and unfavorable exchange rates [22]. - Revenue from the Korean market contributed approximately HKD 587.4 million, a decrease of about HKD 98.1 million or 14.3% compared to the previous year [18]. - The public sector contributed approximately HKD 236.5 million in revenue, down by about HKD 50.8 million or 17.7%, while the private sector contributed approximately HKD 381.1 million, a decrease of about HKD 52.2 million or 12.0% [21]. Cash Flow and Liquidity - The company achieved a net cash inflow from operating activities of approximately HKD 57.7 million, a substantial increase from a net cash outflow of about HKD 19.2 million in the previous year [13]. - The company reduced bank borrowings by approximately HKD 41.0 million during the year, maintaining cash and cash equivalents at about HKD 122.6 million [11]. - The company's cash and cash equivalents amounted to approximately HKD 122.6 million as of December 31, 2022, compared to HKD 123.1 million in 2021 [42]. - The group's cash position remained stable at approximately HKD 122.6 million, with a cash to current liabilities ratio of about 64.7% [29]. - The net current assets were approximately HKD 70.4 million, with a current ratio of 1.4 times as of December 31, 2022, down from 1.6 times in 2021 [43]. Cost Management - Sales and administrative expenses decreased significantly from approximately HKD 72.5 million to about HKD 63.1 million, maintaining a stable percentage of 10.2% of revenue [9]. - The company implemented strict cost control measures, resulting in a reduction of selling and administrative expenses by approximately HKD 9.4 million or 13.0% to about HKD 63.1 million [24]. - The total employee cost for the year was approximately HKD 86.8 million, a decrease from HKD 103.7 million in 2021 [56]. Business Development and Strategy - The company is exploring business opportunities in other Asian countries, including China, Singapore, and Vietnam, to expand its customer base [14]. - The company secured contracts totaling approximately HKD 149.2 million from a computer network integrator and HKD 57.2 million from the South Korean military, among other contracts [16]. - The company is focused on enhancing its service offerings and customer satisfaction through effective management of its business units [69]. - The company aims to leverage its management's extensive experience to explore new business opportunities in the cybersecurity sector [62]. Corporate Governance - The company is committed to maintaining high standards of corporate governance with independent directors overseeing audit and remuneration committees [63]. - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balance of skills and experience [84]. - The company has established a board independence assessment mechanism to ensure effective independent judgment and protect shareholder interests [90]. - The company has established policies and procedures based on the corporate governance code to enhance board governance and oversight capabilities [78]. - The company has adopted a dividend policy that considers financial performance, liquidity, funding needs, and shareholder interests when proposing dividends [148]. Risk Management - The company plans to assess the potential impacts of the Russia-Ukraine war and U.S. interest rate hikes on its business strategy [14]. - The board confirmed its responsibility for risk management and internal control systems, which are designed to provide reasonable assurance against material misstatements or losses [129]. - The company’s risk management program includes annual risk identification activities and the development of risk management plans [129]. Shareholder Information - The company does not recommend a final dividend for the year ended December 31, 2022, consistent with the previous year [154]. - The largest customer accounted for approximately 7.3% of total revenue for the year ended December 31, 2022, down from 7.9% in 2021, while the top five customers collectively represented about 28.3% of total revenue (2021: 28.1%) [167]. - The company emphasizes effective communication with shareholders, ensuring timely access to information and allowing active participation in company affairs [145].
未来数据集团(08229) - 2022 - 年度财报