Financial Performance - The company reported revenue of approximately HKD 26,203,000 for the year ended November 30, 2023, a decrease of 56.5% compared to HKD 60,244,000 in the previous year[21]. - The net loss for the year was approximately HKD 12,782,000, compared to a net profit of HKD 9,110,000 in the previous year[21]. - Revenue from software licensing, leasing, and related services accounted for approximately HKD 3,576,000 or 13.6% of total revenue[21]. - Revenue from maintenance services was approximately HKD 11,711,000 or 44.7% of total revenue[21]. - Revenue from the fintech resource services segment increased by 28.7% to approximately HKD 9,465,000 from HKD 7,353,000 in the previous year[29]. - The company’s cash and cash equivalents decreased by 20.2% to HKD 6,123,000 from HKD 7,674,000 in the previous year[21]. - Operating expenses were approximately HKD 17,408,000, a reduction of 31.3% from HKD 25,350,000 in the previous year[21]. - The company expects stable revenue from software licensing and maintenance services, which will continue to be a significant part of total revenue[24]. Business Strategy and Outlook - The company is cautiously optimistic about 2024, anticipating increased investment in IT infrastructure by financial institutions as travel between mainland China and Hong Kong normalizes[13]. - The goal for 2024 is to generate more recurring revenue and expand the product line into new sectors and financial industries[13]. - The R&D department continues to focus on developing innovative solutions in fintech and regtech, with plans to launch more solutions and services in 2024[13]. - The company plans to enhance its product and service marketing efforts to capitalize on new products and innovative ideas[28]. - The company maintains an optimistic outlook for regulatory technology and IT-related services, anticipating gradual recovery in the Hong Kong economy in 2024[26]. - The company plans to optimize its business portfolio and actively explore profitable business opportunities, including financial-related services[53]. - The group believes it has the capability to face future challenges and is prepared to seize growth opportunities as market conditions improve[52]. - The board is focused on maximizing shareholder value and sustainable growth through strategic business development[53]. Employee and Workforce Management - The total number of employees as of November 30, 2023, was 18[119]. - The company employed 18 staff in Hong Kong as of November 30, 2023, down from 26 in the previous year[50]. - The total employee cost for the year is approximately HKD 9,633,000, compared to HKD 9,518,000 in the previous year[50]. - The employee turnover rate for 2023 was 43%, down from 48% in 2022[140]. - The turnover rate for male employees increased to 48% in 2023 from 29% in 2022, while female turnover decreased to 31% from 88%[140]. - The company employed 12 male and 6 female employees in 2023, with a gender ratio of 67% male to 33% female[136]. - The company has a total of 4 management personnel, which increased from 3 in 2022[136]. - The company offers a minimum of 7 days of annual leave and additional leave types, promoting employee well-being[141]. - The company emphasizes internal promotions over external hiring, aiming to retain talent and enhance employee loyalty[139]. - The company conducts annual performance evaluations to assess employee contributions and set future performance goals[139]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development and has established policies and measures to fulfill this commitment[102]. - The environmental, social, and governance (ESG) report covers the company's performance in these areas for the period from December 1, 2022, to November 30, 2023[103]. - The total greenhouse gas emissions for the fiscal year 2023 decreased by 16.59% compared to fiscal year 2022, reaching 34.95 tons of CO2 equivalent[118]. - The total amount of non-hazardous waste generated in fiscal year 2023 was 353.97 kg, a reduction of 11.24% from 398.8 kg in fiscal year 2022[121]. - The company has invested in energy-saving equipment and monitors energy usage monthly to reduce its carbon footprint[118]. - The company has implemented a paper-saving policy to promote a paperless workplace, including double-sided printing and digital communication[122]. - The company has implemented measures to reduce greenhouse gas emissions and is committed to better monitoring its performance to set more specific environmental quantitative goals[125]. - The company has established a mitigation plan to minimize potential risks from extreme weather events, including flexible work arrangements during adverse conditions[131]. Corporate Governance - The board believes that corporate governance is a key element for the company's success and has adopted various measures to maintain high standards of governance[178]. - The board consists of two executive directors and three independent non-executive directors, with all independent directors confirmed as independent[183]. - The company has not established an internal audit function since its listing in 2000, but believes its current structure provides sufficient risk management and internal control[181]. - The management provides quarterly financial reports to the board, summarizing the company's performance, financial condition, and outlook[180]. - The company has adopted relevant amendments to comply with the corporate governance code as per GEM listing rules[180]. - The internal control committee was established in 2007 to review the effectiveness of the internal control system and manage risks[181]. - The company has committed to regular reviews and appropriate actions to comply with the corporate governance code[180]. - The company adopted a board diversity policy in 2014, which was reviewed in 2023 to ensure its effectiveness and compliance with the new corporate governance code[188].
辰罡科技(08131) - 2023 - 年度财报