Financial Performance - For the year ended September 30, 2023, the revenue from cryptocurrency trading business was HKD 2,810,576, a decrease of 68.6% compared to HKD 8,939,449 in 2022[2]. - The total revenue, including other businesses, was HKD 2,833,569, reflecting a decline of 68.7% from HKD 9,056,726 in the previous year[2]. - Gross profit for the year was HKD 10,389, down 90.6% from HKD 110,850, resulting in a gross margin of 0.4%, down from 1.2%[2]. - The loss before tax from continuing operations increased by 48.9% to HKD (282,173) compared to HKD (189,513) in 2022[2]. - The loss attributable to owners of the company for the year was HKD (275,959), a 47.7% increase from HKD (186,868) in the previous year[2]. - Basic and diluted loss per share from continuing operations was 88.29 HK cents, up 45.6% from 60.64 HK cents in 2022[2]. - The total revenue from continuing operations for the year ended September 30, 2023, was approximately HKD 2,833.6 million, a significant decrease of about 68.7% or HKD 6,223.1 million compared to HKD 9,056.7 million for the year ended September 30, 2022[36]. - The net loss for the year ended September 30, 2023, was approximately HKD 288.7 million, compared to a net loss of approximately HKD 206.5 million for the year ended September 30, 2022[36]. - The company reported a loss attributable to owners of the company from continuing operations of HKD 275,959,000, compared to HKD 186,868,000 in the previous year, marking an increase of approximately 47.6%[79]. - The company reported a loss of HKD 288,694,000 for the year ended September 30, 2023, compared to a loss of HKD 206,501,000 in the previous year, representing an increase in loss of approximately 39.7%[89]. Revenue Breakdown - The revenue from technology solutions business was approximately HKD 10 million for the year ended September 30, 2023, a decrease of about 87.6% or HKD 70.4 million from HKD 80.4 million in the previous year[38]. - The asset management services generated revenue of approximately HKD 4.3 million for the year ended September 30, 2023, a decrease of about 51.7% or HKD 4.6 million from HKD 8.9 million in the previous year[42]. - The revenue from custody, compliance, and consulting services was approximately HKD 1.1 million for the year ended September 30, 2023, down about 95.7% or HKD 24.3 million from HKD 25.4 million in the previous year[44]. - The revenue from virtual asset lending and cryptocurrency trading business included approximately HKD 1.6 million and HKD 2,810.6 million, respectively, for the year ended September 30, 2023[46]. - The revenue from energy-related and electric/electronic products in fiscal year 2023 was approximately HKD 160.9 million, down by about HKD 235.2 million or 59.4% from HKD 396.1 million in 2022, primarily due to slow global economic recovery[57]. Asset Management and Sales - The company completed the sale of Win Techno Inc. for USD 3,270,000 (approximately HKD 25.5 million) on November 1, 2022[4]. - The company entered into a sale agreement for shares in Animoca Brands Corporation Limited for USD 809,000 (approximately HKD 6.31 million), completed in April 2023[9]. - The company has agreed to sell its equity in New Huo Solutions Limited for a consideration of HKD 205,706,355.00[31]. - The company has also agreed to sell 80% of its equity in HBTPower Limited and HBTPower Inc. for a total consideration of approximately USD 6,624,740.00 (around HKD 52,002,023.00)[33]. - The company completed the sale of its target company for HKD 115 million, resulting in a recognition of approximately HKD 6 million in revenue post-sale[51][59]. Corporate Changes and Strategy - The company has changed its English name from "New Huo Technology Holdings Limited" to "Sinohope Technology Holdings Limited" as of September 13, 2023[21]. - The company has revised its share option plan to align with listing rules, effective from January 1, 2023[23]. - The company has approved the modification of the vesting period for share options, which may extend beyond one fiscal year, effective from July 28, 2023[24]. - The company has established a partnership with Gao Sheng Limited for a fund focused on intellectual property commercialization, combining expertise in virtual asset investment management and film production[15]. - The company is focusing on expanding its services in the Web3 sector, offering a one-stop solution for developers to facilitate entry into this emerging market[74]. - The company is optimistic about the future of virtual assets in Hong Kong, highlighting the establishment of a new licensing regime for centralized virtual asset trading platforms and the development of a regulatory framework for stablecoins[70][71]. Financial Position and Liabilities - The company’s net assets decreased to HKD 213,776,000 from HKD 147,086,000, reflecting a significant increase of approximately 45.1%[93]. - The company’s total assets decreased from HKD 808,112,000 to HKD 671,487,000, a decline of about 16.9%[91]. - The company’s current liabilities increased to HKD 424,630,000 from HKD 415,563,000, showing a slight increase of approximately 2.6%[91]. - The company’s non-current liabilities decreased significantly from HKD 505,743,000 to HKD 110,238,000, a reduction of about 78.2%[93]. - The company’s equity attributable to owners increased from HKD 134,929,000 to HKD 206,350,000, reflecting an increase of approximately 53.0%[93]. Cash Flow and Investments - The company reported a net cash outflow from operating activities of HKD 79,137,000 in 2023, compared to a net inflow of HKD 10,510,000 in 2022[143]. - The company reported a net cash outflow from operating activities of approximately HKD 245.2 million for the fiscal year 2023, down from HKD 314.8 million in fiscal year 2022[182]. - The net cash inflow from investing activities for fiscal year 2023 was approximately HKD 11.5 million, a significant decrease from HKD 133.9 million in fiscal year 2022[183]. - Financing activities generated a net cash inflow of approximately HKD 302.1 million in fiscal year 2023, compared to HKD 232.8 million in fiscal year 2022[185]. Regulatory and Compliance - The company has submitted an application to the Securities and Futures Commission for a license to operate as a virtual asset trading platform under the Securities and Futures Ordinance, but withdrew the application in January 2023 due to changes in business focus and planning[49]. - The launch of the "Hong Kong VASP Application Guardian Program" aims to assist institutions in applying for VASP licenses, enhancing compliance and operational capabilities[74]. - The company emphasizes its commitment to long-term strategies and compliance, aiming to create inclusive value for society and reasonable returns for shareholders[75]. Discontinued Operations - The group has terminated its contract manufacturing business after selling its stake in Pindong Industrial Co., Ltd., and this business is classified as discontinued operations[109]. - The total revenue from discontinued operations was HKD 160,926,000 in 2023, down from HKD 396,138,000 in 2022, indicating a significant decline of approximately 59.3%[143]. - The cost of sales for discontinued operations was HKD 150,792,000 in 2023, compared to HKD 322,294,000 in 2022, reflecting a decrease of about 53.3%[143].
新火科技控股(01611) - 2023 - 年度业绩