Financial Performance - For the fiscal year ending December 31, 2023, Nexion Technologies Limited reported a revenue decrease of approximately $1,527,000 or 48.4%, totaling around $1,627,000 compared to $3,154,000 in 2022[15]. - The total revenue for the year ended December 31, 2023, was approximately $1,627,000, a decrease from $3,154,000 in 2022, primarily due to a reduction in revenue from the cybersecurity solutions segment, which generated about $1,219,000 compared to $2,551,000 in 2022[48]. - The annual loss increased from approximately $1,160,000 in 2022 to about $1,720,000 in 2023, primarily due to the decline in the reported performance of the cybersecurity solutions segment[60]. - The network infrastructure solutions segment reported an adjusted EBITDA profit of approximately $138,000 for the year ended December 31, 2023, compared to $36,000 in 2022, primarily due to the completion of higher-margin projects and cost control measures[41]. - The network security solutions segment reported an adjusted EBITDA loss of approximately $570,000 for the year ended December 31, 2023, down from a profit of $17,000 in 2022, mainly due to inventory write-downs of about $414,000 and goodwill impairment losses of approximately $355,000 related to the acquisition of WerkDone[41]. Business Strategy and Market Focus - The decline in revenue was attributed to project completion delays, delays in bid awards, and a focus on high-margin network security solution projects[15]. - The company is enhancing its hardware and software resources to increase the success rate of winning bids and is seeking new business opportunities in existing and new technology products[15]. - Nexion Technologies Limited is focusing on developing comprehensive elderly care management systems and smart healthcare systems to address the growing global trend of quality elderly care services[14]. - The company aims to expand its market presence in network security solutions, particularly in Malaysia and Singapore, while also venturing into the software as a service (SaaS) market in China[14]. - The company’s business strategy emphasizes the development of network security solutions and digital transformation for enterprises[14]. Compliance and Governance - Nexion Technologies Limited's annual report is compliant with the GEM listing rules and will be available on the Hong Kong Stock Exchange website and the company's website[2]. - The company is committed to providing accurate and complete information in its announcements, ensuring no misleading or fraudulent elements are present[3]. - The board of directors has confirmed the accuracy of the information provided in the annual report after reasonable inquiries[8]. - The company is committed to complying with GEM listing rules and corporate governance codes, ensuring transparency and accountability in its operations[170]. - The board consists of five members, including one executive director, one non-executive director, and three independent non-executive directors, ensuring a diverse governance structure[164]. Environmental and Social Responsibility - The company has implemented energy-saving measures to reduce emissions from its operations in Malaysia, Singapore, and China, focusing on waste management and resource utilization[92]. - The company is committed to using advanced and environmentally friendly technologies to protect the environment and optimize the use of natural resources[92]. - Total greenhouse gas emissions for the year ended 2023 were 10,074 kg, a decrease from 10,375 kg in 2022, representing a reduction of approximately 2.9%[101]. - The company has not reported any significant hazardous waste generation in 2023, maintaining a status of zero hazardous waste production[141]. - The company actively supports community investment and encourages employee participation in volunteer and charitable activities[138]. Employee Management and Training - Employee costs for the year totaled approximately $731,000, a decrease of about $417,000 from $1,148,000 in 2022, with a total of 22 employees as of December 31, 2023[78]. - The employee turnover rate for the year ended December 31, 2023, was approximately 17%, down from 35% in 2022[122]. - The percentage of employees receiving training increased to 53% in 2023 from 43% in 2022[124]. - Total training hours for employees rose significantly to 837 hours in 2023 from 190 hours in 2022[124]. - The company promotes a safe working environment, with no reported cases of employee injury or death in the past three fiscal years[121]. Risk Management and Future Outlook - The company will closely monitor potential impacts from future interest rates and geopolitical tensions while ensuring business continuity[16]. - The company aims to explore synergistic development opportunities and adapt its business strategies to strengthen growth and maximize shareholder value[16]. - The company plans to enhance its cybersecurity solution services and invest in innovation to become a leader in the Southeast Asian market[16]. - The company aims to enhance profitability and operational efficiency while minimizing potential adverse environmental impacts through regular reviews and upgrades of existing technologies[92]. - The company has identified and is addressing significant climate-related issues that may impact its operations[144].
NEXION TECH(08420) - 2023 - 年度业绩