HONG KONG, Mar 26, 2024 – (ACN Newswire) – BoardWare Intelligence Technology Limited (“BoardWare” or together with its subsidiaries, the “Group”; stock code: 1204. HK), a leading business in the Greater Bay Area (“GBA”) that uses thorough, top quality and end-to-end business IT services, today revealed its yearly outcomes for the year ended 31 December 2023 (“2023” or the “Year”).
Financial Performance
The possible needs of numerous IT services resumed together with completion of the impact from COVID-19 pandemic. Throughout the Year, the Group continued to offer detailed and premium end-to-end business IT services in addition to circulation and resale organization to consumers under different market sectors in Macau, Hong Kong and the PRC. The Group endeavoured to catch the resumed needs from the healing of the economy from the pandemic to broaden its market share in Macau, Hong Kong and the PRC. Throughout the Year, the Group’s profits increased by 23.6% to HK$ 717.6 million, such boost was mainly attributable to the aggregate result of the boost in income created from both business IT services organization and circulation and resale service. Gross earnings increased by 15.1% to HK$ 115.6 million, with gross earnings margin at 16.1%. Revenue for the year increased by 40.6% to HK$ 4.5 million. Standard incomes per Share attributable to the Shareholders increased by 15.4% to HK0.90 cents.
With regard to organization sections, the profits from business IT services increased 27.9% to HK$ 456.2 million. Such boost was generally attributable to the boost in the earnings from Professional IT services arising from the boost in the variety of agreements in Macau and the PRC. In specific, the earnings produced from the PRC increased substantially. In addition, the Group likewise acquired various IT items for resale to satisfy the requirements from various clients in Macau, Hong Kong and the PRC. The earnings from circulation and resale increased 12.4% to around HK$ 251.0 million.
Preserves the Competitive Advantage in the Macau Market while Seizing the Development Opportunities in the GBA
The federal government of Macau SAR has actually been actively promoting the advancement of wise city for numerous years. According to the “Government of Macau SAR Five Years Development Plan (2024– 2028)” released in October 2023, “Transformation and updating of modern markets and standard markets” has actually been presented to establish brand-new economy growing point by (i) reinforcing business advancement and policy supports to IT business in Macau; (ii) improving the existing legal structure associating with IT markets; (iii) working together with Hengqin on the share of skills, resources and IT facilities; and (iv) improving the quality of the product and services from standard markets with the support of brand-new innovations.
Throughout the Year, the Group was certified as one of the leading 3 crucial innovation business under the “Certification Programme for Technology Enterprises” (the “plan”) in Macau. The plan evaluates business in multi-dimensions, including its companies and scale, research study and advancement (“R&D”) status, and degree of development and more. Certified business to be certified, legitimate for 3 years, as “Potential Technology Enterprises”, “Growing Technology Enterprises”, or “Key Technology Enterprises”. The accreditation has actually strengthened the leading position and raised the track record of the Group in Macau, permitting the Group to draw in more services.
The Guangdong-Macao In-Depth Cooperation Zone in Hengqin (the “Zone”) formally began closed-loop operation on 1 March 2024. The Group has actually been active in leveraging the resource benefits of the Zone to decrease the cost of IT options and items through the tax-free plan in the Zone, therefore boosting the competitiveness of the Group. In addition, that the federal government of Macau SAR set the brand-new requirements on video gaming operator license associating with financial investments on non-gaming markets targeting at diversifying far from its dependence on video gaming market, drives development in need for the IT options and items connecting to the financial investments from those video gaming operators. Gaining from the policy, the Group effectively signed an agreement with among the video gaming operators to promote the advancement of digital economy amongst little and medium-sized business (“SME”) in Macau. The scope of the agreement includes (i) building of a Software as a Service platform; (ii) advancement of associated mobile applications; and (iii) upkeep of vibrant information storage center for SME in Macau.
The federal government of Macau SAR likewise enhanced its policies of the “1 +4” appropriate diversity advancement technique to enhance Macau’s function as “One Centre” for integrated tourist and leisure, while helping with the advancement of 4 nascent markets, specifically the “Big Health” market; contemporary monetary services; high innovation; and conferences and exhibits, commerce and trade, and culture and sports in “2024 Policy Address”. By slowly increasing the percentage of these 4 nascent markets, it will enable Macau to increase financial development incentive and total competitiveness. With the increasing impact of IT aspects in their organization operations and associated assistance policy from the federal government of Macau SAR, the Group’s company advancement is likewise poised to take advantage of the increasing need of IT options in the above markets and attain additional development.
In action to the advancement objective of “Opinions on Financial Support for The Construction of The Guangdong-Hong Kong-Macao Greater Bay Area”, the federal government of Macau SAR will offer monetary rewards to regional little and medium business and assist them establish e-Commerce and cross-border e-Commerce service, as well as popularising digital payment system. With the assistance of the appropriate policies, the Group will even more preserve its present competitive benefit in the Macau market.
Driving Diversified Development through Artificial Intelligence of Things (AIoT) and Brain-Computer Interfaces (BCI) Businesses
To accept the upcoming service chances from the advancement and extensive application of Web 3.0, the Group continues to develop its own functions and functions in Artificial Intelligence (“AI”) innovation. In the early of FY2023, the Group has actually transferred its existing AIoT group and BCI group to a recently developed wholly-owned subsidiary integrated in the PRC, particularly Barco Technologies Limited * (“Barco”). Throughout the Year, Barco effectively established the BCI headband which can incorporate with different application circumstances, consisting of wheelchairs, metaverse and video gaming applications. The BCI headband is presently under the phase of functions’ optimisation. Users can get in touch with designated application situations through the gadget flawlessly. In addition, the Group signed a cooperation structure contract with Baidu Group to cultivate the advancement of the building of BCI based metaverse application circumstances. At the exact same time, Barco participated in an agreement associating with metaverse material of Solitary Beauty Peak in Guilin. The scope of the job is to develop a virtual scene for Solitary Beauty Peak in Guilin and enable users to go into the virtual scene for immersive tourist experience by utilizing BCI headband and AI innovation.
Throughout the Year, Barco likewise participated in an arrangement to construct a joint lab with Beihang University, which generally concentrates on the advancement of extra functions and advancing brand-new innovations along with brand-new applications with AIoT, BCI and AI innovation. The Group thinks such innovations will be the brand-new advancement pattern in IT and will be extensively used in different markets with the increasing awareness from the world.
Expanding Business in China and Entering New Areas of Computing Centre
The Group has actually likewise capitalised on the advancement chances in the PRC by participating in a non-legally binding memorandum of comprehending with SCB Global Capital Holdings Limited (the “Vendor”) with the intent to indirectly obtain the land utilize right to establish a web information centre located in Pinggu, Beijing (the “Proposed Investment”). The Proposed Investment will produce worth to the clients and investors by additional diversifying and extending the present organization of the Company in the PRC. Since today, the Group is still under the development of settling the official sale and purchase contract with the Vendor.
Mr. Matthew CHAO, Chairman and Chief Executive Officer of BoardWare, stated, “the fast healing of the IT services service in the post-epidemic period and the continued encouraging policies from the federal government have actually had a favorable influence on the Group’s advancement. The Group will proactively understand the emerging brand-new organization chances and more broaden its existence in the Hong Kong and GBA markets to expand its success. At the very same time, the Group will keep up with the advancement pattern of AI and totally use its competitive benefits and leading position in the GBA by concentrating on its AIoT and BCI services, which will assist the Group diversify its company advancement.”
BoardWare Intelligence Technology Limited
Headquartered in Macao, BoardWare Intelligence Technology Limited is the leading business in the Macao IT options market. With over 10 years of running history, it has actually been devoted to supplying detailed, end-to-end and premium business IT services covering expert IT services and handled services, to clients that include worldwide distinguished business or bodies in TMT, video gaming and hospitality and public sectors in Macao. To date, it has company existence reached cover the Greater China area, with a concentrate on the Guangdong-Hong Kong-Macao Greater Bay Area, with branches and subsidiaries developed in Hong Kong, Zhuhai, Guangzhou and Beijing.
Subject: Press release summary
Source: BoardWare Intelligence Technology Limited
Sectors: Cloud & & Enterprise
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