Financial Allocation and Utilization - The net proceeds from the listing amount to approximately HKD 44.5 million after deducting underwriting fees and related expenses [3]. - Approximately HKD 15.8 million was originally planned for launching locally manufactured affordable fingerprint recognition devices as part of the business expansion in South China, but this amount remains unused [3]. - The company plans to revise the allocation of the remaining net proceeds to other business plans instead of the originally intended use [3]. - The overall allocation of the net proceeds includes HKD 28.7 million already utilized and HKD 15.8 million remaining [5]. - The company has utilized HKD 5.1 million for improving after-sales service quality and operational support, with a completion target by March 31, 2025 [5]. - An additional HKD 5.0 million has been allocated for enhancing the information technology system, also targeted for completion by March 31, 2025 [5]. - A new independent software development center is being established in China with an allocation of HKD 15.2 million, expected to be fully utilized by March 31, 2025 [5]. - Operational funds of HKD 3.4 million have been allocated, with a target completion date by March 31, 2024 [5]. Research and Development Initiatives - The company is developing non-touch biological feature recognition devices and artificial intelligence applications, with an allocation of HKD 6.8 million, expected to be completed by March 31, 2026 [5]. - A total of HKD 6.8 million will be allocated for the research and development of non-contact biometric identification devices and AIoT technologies, which is expected to be beneficial for the company [9]. - The board noted a shift in market trends from contact-based to non-contact biometric identification devices due to increased public health awareness during the ongoing pandemic [10]. - The integration of AIoT in facial recognition devices will allow for identification even when masks are worn, and can also measure temperature and other health parameters in real-time [11]. - The company aims to diversify the functionality and applications of its non-contact biometric identification devices through AIoT, capturing new market opportunities [10]. Market Challenges and Strategic Decisions - The company has faced challenges in the design and manufacturing of fingerprint recognition devices due to increased public health awareness and strict government measures since the COVID-19 outbreak [8]. - The company decided to suspend the launch of locally manufactured affordable fingerprint recognition devices due to reduced market demand and uncertainties related to the COVID-19 pandemic in China [9]. - The board believes that reallocating the net proceeds from the listing will lead to more effective financial resource allocation, benefiting the company and its shareholders [11]. Reporting Integrity - The company confirmed that the additional information provided does not affect the contents of the 2022 annual report and the 2022 interim report, maintaining their integrity [11].
懒猪科技(08379) - 2023 Q2 - 季度财报