Edvance Intl Holdings Limited (Edvance Intl) released its annual report as of March 31, 2024, showing an 8.3% increase in revenue to HKD 625.4 million. Despite market uncertainty, the company's gross profit remained stable at HKD 137 million. Pre-tax profit turned from a loss of HKD 24.5 million last year to a profit of HKD 31 million. The report detailed changes in the board of directors and committees, as well as the company's legal and financial advisors, major banks, and share registrar. In terms of business overview, the company focuses on cybersecurity products and services, digital asset financial services, and investments. Given market uncertainty, the company did not recommend the distribution of final dividends to retain funds for development. In addition, the company repurchased...Show More

Edvance Intl Holdings Limited (Edvance Intl) released its annual report as of March 31, 2024, showing an 8.3% increase in revenue to HKD 625.4 million. Despite market uncertainty, the company's gross profit remained stable at HKD 137 million. Pre-tax profit turned from a loss of HKD 24.5 million last year to a profit of HKD 31 million. The report detailed changes in the board of directors and committees, as well as the company's legal and financial advisors, major banks, and share registrar. In terms of business overview, the company focuses on cybersecurity products and services, digital asset financial services, and investments. Given market uncertainty, the company did not recommend the distribution of final dividends to retain funds for development. In addition, the company repurchased 8,040,000 shares for HKD 3,125,300. Key risks include reliance on distribution authorization, supplier quality control, project-based revenue, potential liabilities, credit risks, currency fluctuations, and dilutive effects of new share issuances. The audit report shows no major misstatements and the financial statements are true and fair. Impairment tests were conducted on exclusive rights valued at HKD 28,795,000, but no impairment was confirmed after evaluation. As for capital management, as of the end of the fiscal year, the company had no significant capital commitments. The report also provides detailed information on equity-based compensation plans, including eligibility and purposes for share incentive plans and share option plans.