Employment and Staff Costs - As of December 31, 2023, the group employed 18 staff in Hong Kong and 14 staff in China and overseas offices, with total employee costs approximately HKD 11,373,000, a decrease from HKD 12,605,000 in 2022[12] - The company’s employee costs include director remuneration, employee salaries and commissions, retirement benefits plan contributions, and other benefits[12] - Total staff costs for the Group amounted to approximately HKD 11,373,000 for the year ended December 31, 2023, down from approximately HKD 12,605,000 in 2022[141] - The Group employed 32 employees as of December 31, 2023, compared to 32 employees in the previous year[141] Share Options and Directors - The maximum number of shares that may be issued upon the exercise of options under the share option scheme is 1,673,841 shares, representing approximately 7.1% of the issued share capital as of the date of the annual report[1] - No share options were granted under the share option scheme since its adoption on November 11, 2016[1] - The share option scheme will expire at the close of business on November 10, 2026[1] - The company has not participated in any arrangements allowing directors to acquire benefits through the acquisition of shares or debentures during the year ended December 31, 2023[19] - The company’s board of directors includes Mr. Han Chun-wei, Mr. Li Robin Kit Ling, and Mr. Miao Benny Hua-ben, who are eligible for re-election[7] - The company has entered into letters of appointment with all directors for an initial term of one year, continuing thereafter unless terminated with three months' notice[8] - The company has not disclosed any service contracts for directors that are not determinable within one year without compensation, other than statutory compensation[9] - The interests of directors and chief executives in shares and debentures were disclosed as required under the Securities and Futures Ordinance[24] - The Company has maintained compliance with the GEM Listing Rules regarding the disclosure of interests[25] - The Company has not been notified of any other persons with interests or short positions in any Shares as of December 31, 2023[33] Financial Performance - The Group's total revenue for the year ended December 31, 2023 was approximately HK$152,137,000, a decrease of about 58.7% compared to approximately HK$368,160,000 for the year ended December 31, 2022[129] - The cost of sales decreased to approximately HK$138,346,000, representing a decrease of approximately 59.5% from approximately HK$341,591,000 for the previous year[129] - Gross profit decreased by approximately HK$12,778,000 to approximately HK$13,791,000, with the overall gross profit margin increasing from approximately 7.2% to approximately 9.1%[131] - Selling and distribution costs were reduced by approximately 69.8%, decreasing to approximately HK$1,665,000 from approximately HK$5,518,000[131] - Administrative expenses decreased by approximately 8.9% to approximately HK$13,265,000 from approximately HK$14,559,000[131] - The Group recorded a net profit of approximately HK$6,615,000 for the year ended December 31, 2023, an increase of approximately 30.7% compared to approximately HK$5,061,000 for the previous year[131] - Basic earnings per share increased to approximately HK$25.14 cents in 2023, compared to approximately HK$21.60 cents in 2022[131] Revenue Sources and Market Trends - In 2023, the revenue from sales and distribution of IT products accounted for approximately 87.4% of the total revenue, down from 97.1% in 2022[172] - Revenue from repairs and service support increased from approximately HK$10,815,000 in 2022 to approximately HK$19,133,000 in 2023, marking a significant growth[177] - The global secondary IT products market saw significant growth in both demand and supply in 2023, with consumers increasingly opting for refurbished products[169] - The Group aims to diversify its business segments by focusing on the repairs and service support segment to enhance overall financial performance[171] - The Group's strategic plan includes enhancing inventory turnover days and mitigating inventory risk to optimize financial performance[169] Corporate Governance and Compliance - The Company has adopted corporate governance practices in accordance with GEM Listing Rules and has complied with the corporate governance code[78] - The Company maintains a commitment to high standards of corporate governance to enhance accountability and transparency in operations[87] - The independent non-executive directors play a significant role in providing impartial views on the group's strategies and performance[92] - The company has confirmed that all independent non-executive directors are independent based on various relevant factors[92] - The Nomination Committee is responsible for identifying and nominating suitably qualified candidates for the board, ensuring a balance of skills and diversity[92] Sustainability and Future Plans - The Group is committed to long-term sustainability and has adopted green initiatives in its daily operations, complying with all relevant environmental laws and regulations for the year ended December 31, 2023[72] - The management acknowledges the importance of reducing electronic waste and promoting a circular economy through the provision of refurbished IT products[158] - The Group aims to enhance overall financial performance by expanding its service offerings in the repair and service support category[154] - The commitment to sustainability and the circular economy will remain central to the Group's operations as it strives to create long-term value for shareholders[159] Market Contributions and Performance - The Hong Kong market contributed approximately 73.5% of total revenue, up from 10.5% in 2022, while Japan's contribution rose to 17.3% from 1.9%[184] - The United States market's contribution decreased to 4.0% from 56.3% in the previous year[184] - The Australia market's contribution increased to 3.7% from 1.9% in 2022, indicating relative stability[184] - Taiwan and Netherlands markets saw a drastic decline, contributing approximately 0.0% each, down from 20.1% and 8.5% respectively in 2022[184] Financial Position and Assets - The Group's total assets decreased to HK$163,374 from HK$173,385 in the previous year[199] - The total equity attributable to owners of the Company increased to HK$155,618 from HK$148,198[199] - Total liabilities decreased from 13,701 million to 6,654 million, representing a reduction of approximately 51.5%[200] - Current liabilities include trade and other payables of 4,367 million, down from 5,751 million, indicating a decline of about 24.0%[200] - Non-current liabilities totaled 562 million, a decrease from 1,756 million, reflecting a reduction of approximately 68.0%[200]
讯智海(08051) - 2023 - 年度财报