Financial Performance - For the fiscal year 2023, the company reported revenue of approximately HKD 309.1 million, an increase of about 4.9% compared to the fiscal year 2022[11]. - The gross profit for the fiscal year 2023 was approximately HKD 59.2 million, representing a significant increase of about 17.6%[11]. - The comprehensive loss attributable to owners of the company for the fiscal year 2023 was approximately HKD 15 million, a decrease of about 77.6% compared to the previous year[11]. - The company reported a net loss attributable to equity shareholders of approximately HKD 14.1 million for the fiscal year 2023, a decrease of about HKD 53 million compared to a net loss of HKD 67.1 million in fiscal year 2022[32]. - The group's revenue for the fiscal year 2023 was approximately HKD 3,091 million, an increase of about HKD 14.4 million or 4.9% compared to fiscal year 2022 (approximately HKD 2,947 million)[51]. - Gross profit for the fiscal year 2023 was approximately HKD 592 million, an increase of about HKD 89 million or 17.6% from fiscal year 2022 (approximately HKD 503 million)[53]. - The gross profit margin increased from approximately 17.1% in fiscal year 2022 to approximately 19.1% in fiscal year 2023[53]. - The net loss for the fiscal year 2023 was approximately HKD 173 million, a decrease from a net loss of approximately HKD 699 million in fiscal year 2022[56]. - Total comprehensive loss for the fiscal year 2023 was approximately HKD 182 million, compared to approximately HKD 699 million in fiscal year 2022[56]. Business Strategy and Expansion - The company plans to expand its business in China by developing technology and solution services, particularly in the new energy vehicle sector[12]. - The easing of pandemic policies and the reopening of borders in China and Hong Kong are expected to benefit the company's new business initiatives in China[12]. - The company aims to balance short-term performance with long-term goals through targeted strategies[11]. - The company will continue to monitor and report on the status of its operations in China[12]. - The company is expanding its market presence in Region E, targeting a market share increase of F% over the next year[16]. - The company is investing in R&D, allocating $H million towards the development of new technologies and products[16]. - Strategic partnerships are being formed to enhance service offerings, aiming for a synergy effect that could increase revenue by I%[16]. - The company is actively exploring potential acquisition opportunities and will conduct thorough due diligence on any major terms and conditions[41]. Revenue Segmentation - Revenue from the IT infrastructure solutions segment was approximately HKD 140.1 million, representing an increase of about 22.8% from approximately HKD 114.1 million in fiscal year 2022, accounting for about 45.3% of total revenue[33]. - Revenue from the IT development solutions segment was approximately HKD 123.4 million, maintaining a similar level compared to fiscal year 2022, and accounted for about 39.9% of total revenue[34]. - Revenue from the IT maintenance and support services segment decreased by approximately 17.4% to about HKD 45.6 million from approximately HKD 55.2 million in fiscal year 2022, accounting for about 14.8% of total revenue[35]. - The company experienced a decrease in revenue from the entertainment products segment, which saw a reduction of approximately HKD 2 million due to a temporary decline in exports and consulting services[38]. Cost Management and Efficiency - The company has a strong track record of consistent and stable performance in profit growth and cost efficiency[11]. - The company improved its gross profit by approximately HKD 8.9 million in fiscal year 2023, primarily due to better overall cost control[32]. - Selling expenses for the fiscal year 2023 were approximately HKD 132 million, an increase of about HKD 25 million or 23.3% compared to fiscal year 2022 (approximately HKD 107 million)[54]. - Administrative and general expenses for the fiscal year 2023 were approximately HKD 585 million, a decrease of about HKD 448 million or 43.3% from fiscal year 2022 (approximately HKD 1,033 million)[55]. - The company is implementing cost-cutting measures expected to save $J million annually, improving overall profitability[16]. Governance and Compliance - The board of directors is responsible for the overall management of the group and ensuring sustainable value for shareholders[94]. - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific areas of the company's affairs[108]. - Independent non-executive directors constitute at least one-third of the board, ensuring compliance with corporate governance standards[100]. - The audit committee is responsible for monitoring the integrity of financial statements and reviewing significant financial reporting judgments[114]. - The company has established a code of conduct and compliance manual applicable to employees and directors[99]. - The company has implemented a risk management policy to identify and manage significant risks associated with its business operations[140]. Shareholder and Investor Relations - The company expresses gratitude to shareholders, bankers, customers, and business partners for their support and trust[12]. - The company’s communication policy ensures shareholders are informed and can exercise their rights effectively[148]. - The company’s governance report encourages inquiries and suggestions from investors and stakeholders[147]. - The company did not recommend the payment of a final dividend for the fiscal year 2023[156]. - The company raised approximately HKD 31.3 million through a rights issue, issuing up to 481,950,000 shares at a subscription price of HKD 0.065 per share[160]. Risk Management - The company faces significant risks including reliance on a few key suppliers, potential credit risks from customers, and challenges in maintaining high-level partnerships with IT product vendors[44]. - The company is monitoring foreign exchange risks due to its operations in China and will continue to manage these risks[47]. - The company acknowledges potential liabilities from negligence or omissions during service provision, which could adversely affect its business and financial performance[47]. - The company believes that the risk of its directors facing legal action is relatively low, thus it has not purchased insurance for such risks[86]. Employee and Director Management - The total employee cost for fiscal year 2023 was approximately HKD 813 million, compared to approximately HKD 807 million in fiscal year 2022[66]. - The remuneration of executive directors is determined by the Remuneration Committee based on the company's performance and market data, reviewed annually[102]. - All directors are required to participate in continuous professional development to enhance their knowledge and skills[107]. - The company has a clear policy for the training and development of directors, ensuring they understand their responsibilities under GEM listing rules[107]. Share Option Scheme - The company has adopted a share option scheme aimed at incentivizing eligible participants to enhance performance efficiency and retain talent[184]. - The share option scheme allows for the issuance of shares not exceeding 30% of the total issued shares at any time, with a cap of 10% on the total number of options granted unless approved by shareholders[185]. - The term of the share option scheme is set for 10 years, effective from June 22, 2018, until June 21, 2028[185]. - The total number of share options that can be issued upon exercise of all options granted under the plan is capped at 80,000,000 shares[190].
倢冠控股(08606) - 2023 - 年度财报