Financial Performance - The company recorded revenue of approximately HKD 49,228,000 for the year, a decrease of about 17.0% compared to HKD 59,324,000 in the previous year[11]. - Gross profit for the year was approximately HKD 22,568,000, with a gross margin of about 45.8%, an increase from 29.3% in the previous year[11]. - Loss attributable to equity holders for the year was approximately HKD 20,876,000, a significant reduction from a loss of HKD 82,548,000 in the previous year[11]. - The fair value loss on investment properties decreased from approximately HKD 49,393,000 in the previous year to HKD 5,536,000 this year[11]. - The company recorded revenue of approximately HKD 29,994,000 for the year, an increase of 29.3% compared to HKD 23,204,000 in 2022, primarily due to an increase in project numbers[57]. - The company reported a decrease in revenue from DataCube, contributing approximately HKD 5,499,000, down 57.3% from HKD 12,878,000 in 2022, as it focused on collaboration with a metro company[57]. - The group's revenue for 2023 was approximately HKD 49,228,000, a decrease of 17.0% compared to HKD 59,324,000 in 2022, primarily due to a focus on the MTR project[68]. - The cost of sales and services for 2023 was approximately HKD 26,660,000, a reduction of 36.4% from HKD 41,923,000 in 2022, attributed to a shift towards IT services[69]. - Gross profit for 2023 was approximately HKD 22,568,000, an increase of about HKD 5,167,000 compared to HKD 17,401,000 in 2022, driven by economic recovery and a focus on IT services[70]. - Administrative expenses rose by 38.6% to approximately HKD 38,979,000 in 2023 from HKD 28,124,000 in 2022, due to increased business meetings, travel, and advertising costs[73]. - The loss attributable to the company's owners for 2023 was approximately HKD 20,876,000, a decrease from HKD 82,548,000 in 2022, primarily due to a reduction in fair value losses on investment properties from HKD 49,393,000 in 2022 to HKD 5,536,000 in 2023[78]. Strategic Initiatives - The company plans to strengthen its existing artificial intelligence business and explore higher growth potential projects in AI and cloud technology[15]. - The company has established a joint venture, Petaverse, focusing on e-commerce and marketing pet-related products in both the real world and the metaverse[16]. - The company has engaged in strategic partnerships to explore the tokenization of corporate bonds, enhancing efficiency and convenience in financial markets[16]. - The company plans to pursue selective acquisitions and strategic alliances to strengthen its leadership in Hong Kong's IT solutions industry amid uncertain macroeconomic conditions[17]. - The company anticipates growing demand for Bonanza's services, particularly in AI and blockchain applications, indicating significant potential for BONZ shares[22]. - The company has entered a non-binding memorandum of understanding with Autostereoscopic 3D Limited on March 10, 2023, to enhance 3D stereoscopic technology using proprietary AI and big data[28]. - The company aims to provide advanced and quality information technology services, aligning its corporate culture with its vision and values[194]. Capital Management - The company completed a share exchange agreement with Bonanza Goldfields Corp., exchanging 26,520,387 shares valued at approximately HKD 3,580,252 (about USD 459,007)[21]. - Following the share exchange, the company issued 2,652,038 shares, representing about 4.29% of its expanded share capital[24]. - The company completed a placement agreement on April 4, 2023, issuing 7,642,000 shares at a price of HKD 1.93 per share, representing approximately 12.93% of the issued share capital post-placement[30]. - The net proceeds from the placement amounted to approximately HKD 14,340,000, allocated as follows: HKD 7,600,000 for IT infrastructure development, HKD 3,400,000 for repaying a shareholder loan, and the remainder for general working capital[31]. - The company completed the bond issuance on July 12, 2023, with a total principal amount of HKD 100,000,000 and an actual yield to maturity of 3.73%, with net proceeds of approximately HKD 31,500,000 earmarked for Web3.0 and blockchain business development[39]. - A significant acquisition was proposed on September 19, 2023, involving the purchase of all issued shares of Autostereoscopic 3D Limited for HKD 100,000,000, to be settled through a combination of promissory notes and the issuance of shares at HKD 2.16 each[41]. Governance and Compliance - The company has complied with all relevant laws and regulations affecting its business operations during the reporting period[182]. - The company has maintained at least 25% of its issued share capital held by the public as of the report date[187]. - The company's governance report indicates adherence to GEM listing rules, with a noted deviation regarding the roles of the Chairman and CEO being held by the same individual[193]. - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced governance structure[198]. - Three out of six directors are independent non-executive directors, meeting the GEM listing rules requirement for board composition[200]. - The company emphasizes high standards of business ethics and corporate governance, with policies communicated to all employees[195]. - The board is responsible for monitoring corporate strategy, performance, and significant financial matters, ensuring effective risk management[198]. - Independent non-executive directors are tasked with ensuring high standards of internal control and financial reporting[198]. - The nomination and remuneration committees evaluate the independence and qualifications of directors annually[200]. Employee and Shareholder Engagement - The company has a stock option plan in place, with a total of 23,900,000 options granted in May 2021 and an additional 16,360,000 options granted in June 2022[140]. - The company has adopted a new share option scheme on May 15, 2023, in addition to the old scheme adopted on August 2, 2012[118]. - The company aims to incentivize participants through the share option plan, aligning their contributions with the long-term growth interests of the group[158]. - The company is committed to employee development, workplace safety, diversity, and sustainable growth, aiming for long-term stability[196]. - The company has not issued any share options to service providers during the year, and the service provider limit remains unused[159]. - The company has not made any charitable donations during the fiscal year ending December 31, 2023[185]. - As of December 31, 2023, major shareholders holding 5% or more of the company's issued share capital include Mr. Zhang with 24.33% and Dr. Li with 4.29%[173].
中国信息科技(08178) - 2023 - 年度业绩