2023 Q4 Form 20-F Financial Statement

#000149315224019833 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023
Revenue $4.092M
YoY Change -88.29%
Cost Of Revenue $1.792M
YoY Change -89.15%
Gross Profit $2.300M
YoY Change -87.51%
Gross Profit Margin 56.21%
Selling, General & Admin $1.443M
YoY Change -86.63%
% of Gross Profit 62.74%
Research & Development $1.456K
YoY Change -98.18%
% of Gross Profit 0.06%
Depreciation & Amortization $17.28K
YoY Change -92.22%
% of Gross Profit 0.75%
Operating Expenses $1.445M
YoY Change -86.72%
Operating Profit $855.5K
YoY Change -88.66%
Interest Expense $45.19K
YoY Change -89.81%
% of Operating Profit 5.28%
Other Income/Expense, Net $12.16K
YoY Change -103.62%
Pretax Income $867.7K
YoY Change -87.96%
Income Tax $18.99K
% Of Pretax Income 2.19%
Net Earnings $848.7K
YoY Change -87.55%
Net Earnings / Revenue 20.74%
Basic Earnings Per Share $0.07
Diluted Earnings Per Share $0.07
COMMON SHARES
Basic Shares Outstanding 11.59M shares 11.59M shares
Diluted Shares Outstanding 11.59M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $871.9K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $102.8K
Receivables $330.2K
Other Receivables
Total Short-Term Assets $1.294M
YoY Change -91.67%
LONG-TERM ASSETS
Property, Plant & Equipment $4.674K
YoY Change -96.21%
Goodwill
YoY Change
Intangibles $1.963M
YoY Change -85.53%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.040M
YoY Change -84.01%
TOTAL ASSETS
Total Short-Term Assets $1.294M
Total Long-Term Assets $3.040M
Total Assets $4.334M
YoY Change -87.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $37.77K
YoY Change -93.04%
Deferred Revenue $591.4K
YoY Change -85.92%
Short-Term Debt $494.7K
YoY Change -86.63%
Long-Term Debt Due $494.7K
YoY Change -86.63%
Total Short-Term Liabilities $1.560M
YoY Change -86.9%
LONG-TERM LIABILITIES
Long-Term Debt $776.2K
YoY Change -92.17%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $776.2K
YoY Change -92.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.560M
Total Long-Term Liabilities $776.2K
Total Liabilities $2.830M
YoY Change -88.26%
SHAREHOLDERS EQUITY
Retained Earnings $1.252M
YoY Change -85.23%
Common Stock $500.00
YoY Change -87.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.503M
YoY Change
Total Liabilities & Shareholders Equity $4.334M
YoY Change -87.45%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023
OPERATING ACTIVITIES
Net Income $848.7K
YoY Change -87.55%
Depreciation, Depletion And Amortization $17.28K
YoY Change -92.22%
Cash From Operating Activities $1.450M
YoY Change -89.26%
INVESTING ACTIVITIES
Capital Expenditures $6.165K
YoY Change -85.22%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$727.9K
YoY Change -65.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.394M
YoY Change -85.18%
NET CHANGE
Cash From Operating Activities $1.450M
Cash From Investing Activities -$727.9K
Cash From Financing Activities -$1.394M
Net Change In Cash -$672.6K
YoY Change -133.93%
FREE CASH FLOW
Cash From Operating Activities $1.450M
Capital Expenditures $6.165K
Free Cash Flow $1.444M
YoY Change -89.27%

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CY2023 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
268 usd
CY2021 us-gaap Interest Expense
InterestExpense
479904 hkd
CY2022 us-gaap Interest Expense
InterestExpense
443577 hkd
CY2023 us-gaap Interest Expense
InterestExpense
353002 hkd
CY2023 us-gaap Interest Expense
InterestExpense
45194 usd
CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
246525 hkd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-336027 hkd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
94974 hkd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
12158 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
10781225 hkd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
7206444 hkd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6777190 hkd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
867657 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
431630 hkd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
387845 hkd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
148309 hkd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18987 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
10349595 hkd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
6818599 hkd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
6628881 hkd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
848670 usd
CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-14168 hkd
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
7496 hkd
CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
17866 hkd
CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
2287 usd
CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
10335427 hkd
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6826095 hkd
CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6646747 hkd
CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
850957 usd
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11585000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11585000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11585000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11585000 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11585000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11585000 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11585000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11585000 shares
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.893
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.893
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.589
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.589
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.572
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.572
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.073
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.073
CY2023Q3 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
1 for 231.7
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
10150068 hkd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
10349595 hkd
CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-13003024 hkd
CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-14168 hkd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
7482471 hkd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
6818599 hkd
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
6117332 hkd
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
6117332 hkd
CY2022 us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
10000000 hkd
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
7496 hkd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
10425898 hkd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
10425898 hkd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
6628881 hkd
CY2023 us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
5329213 hkd
CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
17866 hkd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
11743432 hkd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
1503467 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
1503467 usd
CY2023Q3 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
1 for 231.7
CY2021 us-gaap Net Income Loss
NetIncomeLoss
10349595 hkd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
6818599 hkd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
6628881 hkd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
848670 usd
CY2021 us-gaap Depreciation
Depreciation
253063 hkd
CY2022 us-gaap Depreciation
Depreciation
222173 hkd
CY2023 us-gaap Depreciation
Depreciation
134951 hkd
CY2023 us-gaap Depreciation
Depreciation
17277 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5996618 hkd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6160391 hkd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5514165 hkd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
705958 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1700859 hkd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1695259 hkd
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1633106 hkd
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
209080 usd
CY2021 us-gaap Gain Loss On Disposition Of Other Financial Assets
GainLossOnDispositionOfOtherFinancialAssets
-16120 hkd
CY2023 us-gaap Gain Loss On Disposition Of Other Financial Assets
GainLossOnDispositionOfOtherFinancialAssets
-7874 hkd
CY2023 us-gaap Gain Loss On Disposition Of Other Financial Assets
GainLossOnDispositionOfOtherFinancialAssets
-1008 usd
CY2021 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
660325 hkd
CY2022 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
1157650 hkd
CY2023 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
2091 hkd
CY2023 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
268 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
497099 hkd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
998020 hkd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
127773 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
431630 hkd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
158490 hkd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
154186 hkd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
19739 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
436514 hkd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
949239 hkd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2444125 hkd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
312912 usd
CY2021 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
72146 hkd
CY2022 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-520618 hkd
CY2023 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
38978 hkd
CY2023 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
4990 usd
CY2021 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
479076 hkd
CY2023 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-47104 hkd
CY2023 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-6031 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
666788 hkd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-75232 hkd
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-61981 hkd
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-7935 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-4679419 hkd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1275002 hkd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
420517 hkd
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
53837 usd
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-8090 hkd
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
229355 hkd
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-11877 hkd
CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-1521 usd
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1665000 hkd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1663674 hkd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1659126 hkd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-212412 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
12734753 hkd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
13496487 hkd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11324808 hkd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1449871 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
267010 hkd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
41721 hkd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
48157 hkd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6165 usd
CY2021 us-gaap Payments For Software
PaymentsForSoftware
6959773 hkd
CY2022 us-gaap Payments For Software
PaymentsForSoftware
5993675 hkd
CY2023 us-gaap Payments For Software
PaymentsForSoftware
7270898 hkd
CY2023 us-gaap Payments For Software
PaymentsForSoftware
930866 usd
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
40000 hkd
CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1999 hkd
CY2021 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
5950000 hkd
CY2022 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
156000 hkd
CY2021 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
1870086 hkd
CY2022 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
4068302 hkd
CY2023 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
1633315 hkd
CY2023 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
209107 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11346697 hkd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2125093 hkd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5685740 hkd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-727924 usd
CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-13003024 hkd
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
6117332 hkd
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
3900 hkd
CY2022 MFI Payments For Dividend
PaymentsForDividend
10000000 hkd
CY2023 MFI Payments For Dividend
PaymentsForDividend
5329213 hkd
CY2023 MFI Payments For Dividend
PaymentsForDividend
682279 usd
CY2022 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3119900 hkd
CY2023 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1864434 hkd
CY2023 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
238696 usd
CY2021 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
3847150 hkd
CY2021 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
1485212 hkd
CY2022 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
2396598 hkd
CY2023 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
3693642 hkd
CY2023 us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
472883 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10641086 hkd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-9403066 hkd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10887289 hkd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1393858 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
545 hkd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13820 hkd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-5092 hkd
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-651 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9252485 hkd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1982148 hkd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5253313 hkd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-672562 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19334068 hkd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10081583 hkd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12063731 hkd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1544474 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10081583 hkd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12063731 hkd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6810418 hkd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
871912 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9905 hkd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
480403 hkd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
451403 hkd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
483623 hkd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
61916 usd
CY2022 MFI Operating Lease Rightofuse Assets Obtained In Exchange For Operating Lease Obligations
OperatingLeaseRightofuseAssetsObtainedInExchangeForOperatingLeaseObligations
3194319 hkd
CY2023 MFI Operating Lease Rightofuse Assets Obtained In Exchange For Operating Lease Obligations
OperatingLeaseRightofuseAssetsObtainedInExchangeForOperatingLeaseObligations
2824383 hkd
CY2023 MFI Operating Lease Rightofuse Assets Obtained In Exchange For Operating Lease Obligations
OperatingLeaseRightofuseAssetsObtainedInExchangeForOperatingLeaseObligations
361595 usd
CY2022 MFI Dividend Payable Which Was Settled By Netting Off Against Outstanding Amounts Due From Related Parties
DividendPayableWhichWasSettledByNettingOffAgainstOutstandingAmountsDueFromRelatedParties
18114311 hkd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_841_eus-gaap--UseOfEstimates_zcQwemsor5nk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_864_zfvcW6uVkaSl">Use of Estimates and Assumptions</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Significant estimates required to be made by management, include, but are not limited to, allowance for credit losses and impairment assessment for the internally developed software. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 us-gaap Foreign Currency Translation Adjustment Description
ForeignCurrencyTranslationAdjustmentDescription
the convenience of the reader and were calculated at the noon buying rate of US$1 = HK$7.8109, as published in H.10 statistical release of the United States Federal Reserve Board
CY2022Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
1979268 hkd
CY2023Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
343862 hkd
CY2023Q4 us-gaap Investment Owned At Fair Value
InvestmentOwnedAtFairValue
44023 usd
CY2023Q4 us-gaap Cash
Cash
500000 hkd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
998020 hkd
CY2023 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
1495119 hkd
CY2023 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
191415 usd
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 hkd
CY2023 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 hkd
CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 hkd
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 hkd
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 hkd
CY2021 us-gaap Revenues
Revenues
32212970 hkd
CY2022 us-gaap Revenues
Revenues
34931827 hkd
CY2023 us-gaap Revenues
Revenues
31961177 hkd
CY2023 us-gaap Revenues
Revenues
4091869 usd
CY2021 us-gaap Revenues
Revenues
32212970 hkd
CY2022 us-gaap Revenues
Revenues
34931827 hkd
CY2023 us-gaap Revenues
Revenues
31961177 hkd
CY2023 us-gaap Revenues
Revenues
4091869 usd
CY2021 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 hkd
CY2022 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 hkd
CY2023 us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 hkd
CY2021 us-gaap Other Income
OtherIncome
379363 hkd
CY2022 us-gaap Other Income
OtherIncome
734059 hkd
CY2023 us-gaap Other Income
OtherIncome
34261 hkd
CY2023 us-gaap Other Income
OtherIncome
4386 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zBknVVJU88Hc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_860_zkzaTbuB3r0a">Concentration and Credit Risk</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to the concentration of credit risks consist of cash and accounts receivable. The maximum exposures of such assets to credit risk are their carrying amounts as of the balance sheet dates. The Company deposits its cash with financial institutions located in Hong Kong. The Company believes that no significant credit risk exists as these financial institutions have high credit quality and the Company has not incurred any losses related to such deposits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the credit risk related to accounts receivable, the Company performs periodic credit evaluations of its customers’ financial condition and generally does not require collateral. The Company establishes an allowance for credit losses based upon estimates, factors surrounding the credit risk of specific customers and other information. The allowance amounts were immaterial for all periods presented. The management believes that its contract acceptance, billing, and collection policies are adequate to minimize material credit risk. Application for progress payment of contract works is made on a regular basis. The Company seeks to maintain strict control over its outstanding receivables. Overdue balances are reviewed regularly by the management.   The management considers the credit risk of prepayment is relatively low and there is no material impact over the initial adoption of CECL model because the advanced payments made to the service providers for the IT solution and insurance services and the vendors for certain prepaid services were mainly for the coming 12 months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2021, 2022 and 2023, all of the Company’s assets were located in Hong Kong and all of the Company’s revenue were derived from its subsidiaries located in Hong Kong. The Company has a concentration of its revenue and accounts receivable with specific customers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended December 31, 2021, one customer accounted for approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_znaUtZpia8Il" title="Concentration risk percentage">10.5</span>% of the Company’s total revenue. For the year ended December 31, 2022, one customer accounted for approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zziRFkRMPkpg" title="Concentration risk percentage">18.0</span>% of the Company’s total revenue. For the year ended December 31, 2023, no customer accounted for over <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zkHKkFtMO4p1" title="Concentration risk percentage">10</span>% of the Company’s total revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of December 31, 2021, one customer’s accounts receivable accounted for <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zmSijlBXrry3" title="Concentration risk percentage">88.4</span>% of the total accounts receivable. Two customers’ accounts receivable accounted for <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zDtux8AyIFx7" title="Concentration risk percentage">27.2</span>% and <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zeLq5dhYjKoa" title="Concentration risk percentage">21.4</span>% of the total accounts receivable as of December 31, 2022, respectively. Two customers’ accounts receivable accounted for <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_znAjTY8YLUS1" title="Concentration risk percentage">13.9</span>% and <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zKfsSSpXALwe" title="Concentration risk percentage">10.1</span>% of the total accounts receivable as of December 31, 2023, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended December 31, 2021, 2022 and 2023, no vendor accounted for over <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoVendorMember_zKfnrF6HWMI8" title="Concentration risk percentage"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoVendorMember_zpJo6bGLYpp6" title="Concentration risk percentage"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoVendorMember_zS7BuBpq8w3l" title="Concentration risk percentage">10</span></span></span>% of the Company’s total purchase.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
1630469 hkd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
4074594 hkd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
521655 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
497099 hkd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1495119 hkd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
191415 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1133370 hkd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2579475 hkd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
330240 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
497099 hkd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
63642 usd
CY2023 MFI Allowance For Doubtful Accounts Receivables Write Off
AllowanceForDoubtfulAccountsReceivablesWriteOff
497099 hkd
CY2023 MFI Allowance For Doubtful Accounts Receivables Write Off
AllowanceForDoubtfulAccountsReceivablesWriteOff
63642 usd
CY2022 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
497099 hkd
CY2023 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
1495119 hkd
CY2023 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
191415 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
497099 hkd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1495119 hkd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
191415 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4199173 hkd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4619690 hkd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
591441 usd
CY2023 MFI Schedule Of Movement In Contract Liabilities
ScheduleOfMovementInContractLiabilities
<p id="xdx_89A_ecustom--ScheduleOfMovementInContractLiabilities_zlAQCxMc2836" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The movement in contract liabilities is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_z4tWrkqhLEw8" style="display: none">Schedule of Movement In Contract Liabilities</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49D_20220101__20221231_zNwcyDUKmZ65" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49A_20230101__20231231_zAJm1XgD27ki" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">HK$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">HK$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--ContractWithCustomerLiabilityCurrent_iS_zIYyN0Wj2T4g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Balance at beginning of the year ended December 31</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">5,474,175</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4,199,173</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ContractWithCustomerLiabilityCurrent_iS_uUSD_c20230101__20231231_zBTxovt0FgXa" style="width: 12%; text-align: right" title="Balance at beginning of the year ended December 31">537,604</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod_iN_di_za1BnheBb20d" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,474,175</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,199,173</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod_iN_di_uUSD_c20230101__20231231_zw8eOShVk102" style="text-align: right" title="Decrease in contract liabilities as a result of recognizing revenue during the year was included in the contract liabilities at the beginning of the year">(537,604</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination_zAW1voHOMtvi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Increase in contract liabilities as a result of billings in advance of performance obligation under contracts</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,199,173</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,619,690</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination_uUSD_c20230101__20231231_z7a2zC0GXom7" style="border-bottom: Black 1.5pt solid; text-align: right" title="Increase in contract liabilities as a result of billings in advance of performance obligation under contracts">591,441</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ContractWithCustomerLiabilityCurrent_iE_zXk1rXJqWQ8g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Balance at end of the year ended December 31</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,199,173</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,619,690</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ContractWithCustomerLiabilityCurrent_iE_uUSD_c20230101__20231231_zBRscQ2KawDe" style="text-align: right" title="Balance at end of the year ended December 31">591,441</td><td style="text-align: left"> </td></tr> </table>
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5474175 hkd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4199173 hkd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
537604 usd
CY2022 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
5474175 hkd
CY2023 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
4199173 hkd
CY2023 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
537604 usd
CY2022 us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
4199173 hkd
CY2023 us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
4619690 hkd
CY2023 us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerLiabilityIncreaseDecreaseForContractAcquiredInBusinessCombination
591441 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
228856 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
931872 hkd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
119304 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
15336589 hkd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1963486 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4199173 hkd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4619690 hkd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
591441 usd
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
479076 hkd
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
431972 hkd
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
55304 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
346064 hkd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
371143 hkd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
47516 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
825140 hkd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
803115 hkd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
102820 usd
CY2022Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
479076 hkd
CY2023Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
431972 hkd
CY2023Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
55304 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
346064 hkd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
371143 hkd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
47516 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
4681992 hkd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3312357 hkd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3447308 hkd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
441346 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
123305 hkd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
36511 hkd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4674 usd
CY2021 us-gaap Depreciation
Depreciation
253063 hkd
CY2022 us-gaap Depreciation
Depreciation
222173 hkd
CY2023 us-gaap Depreciation
Depreciation
134951 hkd
CY2023 us-gaap Depreciation
Depreciation
17277 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-45198714 hkd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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