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Public company info - Kinetix Systems Holdings Limited , 08606.HK
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Kinetix Systems Holdings Limited, 08606.HK - Company Profile
Chairman Yu Pak Lun Larry
Share Issued (share) 800,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry System Applications & IT Consulting
Corporate Profile Business Summary: The principal activities of the Group are provision of information technology (“IT”) infrastructure solutions services, IT development solutions services and IT maintenance and support services. Performance for the year: The Group’s revenue for FY2019 amounted to approximately HK$215.6 million, representing an increase of approximately HK$22.1 million or 11.4% compared to FY2018 (2018: approximately HK$193.5 million). The Group’s gross profit for FY2019 amounted to approximately HK$37.3 million, representing decrease of approximately HK$5.6 million or 13.1% compared to FY2018 (2018: approximately HK$42.9 million). The Group’s gross profit margin decreased from approximately 22.2% for FY2018 to approximately 17.3% for FY2019. Business Review For FY2019, the Group recorded a profit attributable to equity shareholders of the Company of approximately HK$2.2 million as compared to the loss attributable to equity shareholders of the Company of approximately HK$9.0 million in FY2018. The increase in profit was mainly attributable to (i) decrease in the allowance for expected credit loss of customers by approximately HK$7.8 million, (ii) decrease in the one-off incurrence of listing expenses by expenses by HK$9.8 million, decrease in gross profit by HK$5.6 million, and (iii) was partially offset by the increase in legal and professional fee by HK$1.4 million during FY2019. Provision of IT development solutions services This segment provides IT development solutions services that generally include system analysis and design, software development and technology consultancy. The revenue generated from this segment in FY2019 amounted to approximately HK$53.5 million, representing approximately 24.8% of the total revenue for FY2019. The revenue derived from this segment increased by approximately 14.6% from approximately HK$46.7 million for FY2018 to approximately HK$53.5 million for FY2019. The increase was primarily due to the increase in total numbers of IT development solutions projects undertaken in FY2019. Provision of IT infrastructure solutions services This segment provides IT infrastructure solutions services to the Group's clients by advising them the hardware and/or software that their IT systems would require and procuring the relevant hardware and/or software from a number of authorized distributors or third party suppliers and integrating them with the Group's clients’ IT systems. The revenue generated from this segment in FY2019 amounted to approximately HK$123.5 million, representing approximately 57.3% of the total revenue for FY2019. The revenue derived from this segment decreased by approximately 1.4% from approximately HK$125.3 million for FY2018 to approximately HK$123.5 million for FY2019. The decrease was mainly attributable to the decrease in average amount of revenue recognized per project in FY2019. Provision of IT maintenance and support services This segment provides IT maintenance and support services. The revenue generated from this segment in FY2019 amounted to approximately HK$28.6 million, representing approximately 13.3% of the total revenue for FY2019. The revenue derived from this segment increased by approximately 33.0% from approximately HK$21.5 million for FY2018 to approximately HK$28.6 million for FY2019. The increase was primarily due to the increase in average amount of revenue recognized per project during FY2019. Others In line with the development of the Company, some subsidiaries were established in the fourth quarter of 2019. One of the subsidiaries plans to develop an E-Commerce business which includes trading of entertainment products. The revenue generated for this segment amounted to approximately HK$10.0 million, representing approximately 4.6% of the total revenue for FY2019. Prospects: Looking forward, the Group considers the global business environment will become more challenging. The Group will continue to face various risks and uncertainties including the volatility of Hong Kong interest rates, the risk of US-China trade war, and global outbreak of coronavirus disease that may adversely affect its business and overall shortterm performance. It could lead to negative global economic impacts and the Group expects that Hong Kong’s economy will further deteriorate and worsen. It may result in the Group reducing orders and putting pressure on the Group’s pricing terms and the Group’s profitability in the short term. Therefore, the Group shall provide customers with specific IT solution services through its newly established subsidiaries, thereby expanding and diversifying its revenue sources. The Group will closely monitor the impact of the macro issues and trade dispute on its performance, and will carefully plan and develop strategies to manage these factors to provide the best possible results to shareholders in the medium to longer term.

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