Revenue and Financial Performance - Revenue from Corporate Management Solutions and I.T. Contract Services accounted for approximately 11.3% of the Group's total turnover[6]. - The software business generated revenue of approximately HKD 81.85 million, a decrease of about 4.6% compared to HKD 85.77 million in 2022[15]. - The Group's revenue for the Year was approximately HK$92,360,000, representing a decrease of approximately 12.9% compared to HK$106,028,000 in 2022[28]. - Gross profit decreased by approximately 6.6% to approximately HK$67,992,000 from HK$72,812,000 in 2022[28]. - The Group recorded a net loss of approximately HK$21,335,000 for the Year, compared to a net loss of approximately HK$1,388,000 in 2022[28]. - The net loss attributable to owners of the Company was approximately HK$23,415,000 for the Year, compared to HK$8,059,000 in 2022[28]. - For the year ended December 31, 2023, total revenue was HK$ 81,847,000, a decrease of 4.5% from HK$ 85,770,000 in 2022[47]. - Revenue from the United States was HK$ 36,090,000, up 6.5% from HK$ 33,984,000 in 2022[47]. - Revenue from Hong Kong decreased significantly to HK$ 450,000 from HK$ 918,000, representing a decline of 50.1%[47]. - The Group reported other income of HK$ 2,531,000, an increase of 123.8% compared to HK$ 1,132,000 in 2022[49]. Software Business Performance - The software segment reported a loss of approximately HKD 8.38 million, compared to a profit of HKD 22.64 million in 2022, primarily due to increased competition and goodwill impairment losses of approximately HKD 18 million[15]. - The Software Business segment incurred a loss of approximately HK$8,382,000, including an impairment loss on goodwill and intangible assets of approximately HK$18,000,000[28]. - The impairment loss on goodwill was HK$ 18,000,000, indicating a significant write-down compared to the previous year[50]. - The impairment loss on goodwill related to the Software Business was approximately HK$28 million for the year[73]. User and Market Trends - As of December 31, 2023, the Boom Max Group had more than 42 million new users, down from over 50 million in 2022[18]. - The Group continues to explore business opportunities and expand distribution channels in emerging markets, particularly in the Asia-Pacific region[18]. - The expected average sales growth rate during the Forecast Period was determined based on an international research platform for the software industry[44]. - The expected annual net profit margins during the Forecast Period in 2023 were projected to be lower than those for the Previous Forecast Period in 2022 due to increased expenditure and market competition[44]. Cost Management and Financial Strategy - The Board will maintain a close review of business performance, emphasizing prudent cost control and risk management[25]. - Finance costs decreased by approximately 30.6% to approximately HK$100,000 from HK$144,000 in 2022[28]. - Staff costs decreased from HK$16,136,000 in 2022 to HK$12,056,000 in 2023, representing a reduction of approximately 25.8%[65]. - The total staff costs reflect a strategic focus on cost management while maintaining employee benefits[87]. Governance and Compliance - The Company has complied with the Corporate Governance Code for the year ended December 31, 2023[96]. - The Board comprises five members, including two executive Directors and three independent non-executive Directors, ensuring a balance of skills and experience[96]. - The Company held 7 Board meetings during the year to review business performance and approve overall strategies[102]. - The Company considers all independent non-executive Directors to be independent as of the date of the report[105]. Impairment and Asset Management - The estimated recoverable amount of the cash-generating unit of Boom Max International Limited was approximately HKD 169.17 million as of December 31, 2023[15]. - The carrying amount of the Boom Max Group before impairment was approximately HK$197 million as of December 31, 2023, down from approximately HK$201 million in 2022[73]. - The recoverable amount of the Boom Max Group was approximately HK$169 million as of December 31, 2023, compared to approximately HK$220 million in 2022, indicating a decline of about 23.2%[73]. Future Outlook and Strategic Plans - The Group plans to enhance its technology capabilities and optimize business strategies for sustainable growth[92]. - The Group aims to expand sales channels and marketing efforts in emerging markets[92]. - The expected average sales growth rate for the forecast period from 2024 to 2028 is approximately 6.76%, down from 7.89% in the previous forecast period[75]. - The expected annual net profit margin range for 2024 to 2028 is between 16.26% and 26.50%, compared to 21.36% to 29.97% for 2023 to 2027[82]. Taxation and Financial Provisions - The Company reported a current tax provision of HK$1,618,000 for the year ended 31 December 2023, down from HK$1,926,000 in 2022[116]. - Deferred tax for the year was HK$1,934,000, compared to HK$2,050,000 in the previous year[116]. - The Company did not recommend any dividends for the year ended 31 December 2023, consistent with the previous year[128]. Audit and Internal Control - The total audit services fee for the year was HK$1,000,000, while non-audit services amounted to HK$498,000, bringing the total to HK$1,498,000[157]. - The internal audit function is performed by the management, with an external consultant engaged to enhance the quality of the internal audit[161]. - The Group's risk management and internal control systems were reviewed by the Audit Committee and Board, confirming their effectiveness for the year[163].
智易控股(08100) - 2023 - 年度财报