| SEGMENT INFORMATION |
The Company has one reportable segment: provision
of integrated financial printing services. Segment was identified based on the Company’s internal reporting and how the chief operating
decision maker (“CODM”, the Chief Executive Officer of the Company) assesses the performance of the business. The CODM review
net income to assess the performance of the business.
All revenue of the Company is generated in Hong
Kong. Segment assets are based on the geographical location of the assets.
Non-current assets per geographical segment
| | |
As of December 31, | |
| | |
2024 | | |
2025 | |
| | |
HK$ | | |
% | | |
HK$ | | |
US$ | | |
% | |
| Hong Kong | |
| 9,653,379 | | |
| 66 | % | |
| 27,383,448 | | |
| 3,518,231 | | |
| 89 | % |
| PRC | |
| 4,952,295 | | |
| 34 | % | |
| 3,461,105 | | |
| 444,683 | | |
| 11 | % |
| Total | |
| 14,605,674 | | |
| 100 | % | |
| 30,844,553 | | |
| 3,962,914 | | |
| 100 | % |
Key financial performance measures of the segments
are as follows:
| |
|
For the years ended December 31, |
|
| |
|
2023 |
|
|
2024 |
|
|
2025 |
|
|
2025 |
|
| |
|
HK$ |
|
|
HK$ |
|
|
HK$ |
|
|
US$ |
|
| Revenue |
|
|
115,285,213 |
|
|
|
103,820,403 |
|
|
|
130,932,196 |
|
|
|
16,822,196 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cost of revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| – External |
|
|
(63,801,949 |
) |
|
|
(57,967,108 |
) |
|
|
(72,198,081 |
) |
|
|
(9,276,024 |
) |
| – Related party |
|
|
(4,472,333 |
) |
|
|
(3,461,056 |
) |
|
|
(3,853,053 |
) |
|
|
(495,041 |
) |
| Total cost of revenue |
|
|
(68,274,282 |
) |
|
|
(61,428,164 |
) |
|
|
(76,051,134 |
) |
|
|
(9,771,065 |
) |
| Gross profit |
|
|
47,010,931 |
|
|
|
42,392,239 |
|
|
|
54,881,062 |
|
|
|
7,051,131 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling and marketing expenses |
|
|
(18,323,687 |
) |
|
|
(15,992,966 |
) |
|
|
(27,329,142 |
) |
|
|
(3,511,255 |
) |
| General and administrative expenses |
|
|
(19,612,592 |
) |
|
|
(18,142,764 |
) |
|
|
(21,686,959 |
) |
|
|
(2,786,345 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income from operations |
|
|
9,074,652 |
|
|
|
8,256,509 |
|
|
|
5,864,961 |
|
|
|
753,531 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other income, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bank interest income |
|
|
33,332 |
|
|
|
31,523 |
|
|
|
391,825 |
|
|
|
50,342 |
|
| Interest expense |
|
|
(124,021 |
) |
|
|
(316,717 |
) |
|
|
(250,943 |
) |
|
|
(32,241 |
) |
| Administrative service fee from related parties |
|
|
369,000 |
|
|
|
390,000 |
|
|
|
184,000 |
|
|
|
23,640 |
|
| Administrative service fee from non-related parties |
|
|
— |
|
|
|
— |
|
|
|
528,000 |
|
|
|
67,838 |
|
| Government subsidies |
|
|
— |
|
|
|
175,688 |
|
|
|
— |
|
|
|
— |
|
| Other (expenses) income |
|
|
(69,235 |
) |
|
|
(4,516 |
) |
|
|
187,426 |
|
|
|
24,080 |
|
| Total other income, net |
|
|
209,076 |
|
|
|
275,978 |
|
|
|
1,040,308 |
|
|
|
133,659 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income before income tax expenses |
|
|
9,283,728 |
|
|
|
8,532,487 |
|
|
|
6,905,269 |
|
|
|
887,190 |
|
| Income tax expenses |
|
|
(1,500,878 |
) |
|
|
(2,129,604 |
) |
|
|
(1,627,909 |
) |
|
|
(209,154 |
) |
| Net income |
|
|
7,782,850 |
|
|
|
6,402,883 |
|
|
|
5,277,360 |
|
|
|
678,036 |
|
| |
|
As of December 31, |
|
| |
|
2024 |
|
|
2025 |
|
|
2025 |
|
| |
|
HK$ |
|
|
HK$ |
|
|
US$ |
|
| Total assets |
|
|
57,047,028 |
|
|
|
116,021,212 |
|
|
|
14,906,429 |
|
| Total liabilities |
|
|
(47,143,875 |
) |
|
|
(64,583,380 |
) |
|
|
(8,297,686 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net assets |
|
|
9,903,153 |
|
|
|
51,437,832 |
|
|
|
6,608,743 |
|
|