AV CONCEPT HOLD年报2023

Pages Financial Highlights財務重點 財務重點Financial Highlights Corporate Information公司資料 BOARD OF DIRECTORS Dr. So Yuk Kwan(Chairman and Chief Executive Officer)Mr. So Kevin Chi HengMr. So Chi Sun Sunny PhDSBSCharles Edward Chapman Independent Non-Executive Directors Dr. Lui Ming Wah,PhD, SBS, JPMr. Charles Edward ChapmanMr. Lai Yat Hung Edmund CHIEF FINANCIAL OFFICER ANDCOMPANY SECRETARY Mr. Chan Chi Hang AUDIT COMMITTEE PhDSBSCharles Edward Chapman Mr. Lai Yat Hung Edmund(Chairman)Dr. Lui Ming Wah,PhD, SBS, JPMr. Charles Edward Chapman REMUNERATION COMMITTEE PhDSBSCharles Edward Chapman Dr. Lui Ming Wah,PhD, SBS, JP(Chairman)Mr. Charles Edward ChapmanMr. Lai Yat Hung Edmund NOMINATION COMMITTEE Mr. Charles Edward Chapman(Chairman)Dr. Lui Ming Wah,PhD, SBS, JPMr. Lai Yat Hung Edmund Charles Edward ChapmanPhDSBS CORPORATE GOVERNANCE COMMITTEE PhDSBSCharles Edward Chapman Dr. Lui Ming Wah,PhD, SBS, JP(Chairman)Mr. Charles Edward ChapmanMr. Lai Yat Hung Edmund REGISTERED OFFICE P. O. Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands P. O. Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands 公司資料Corporate Information HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS 396 6th FloorEnterprise Square Three39 Wang Chiu RoadKowloon BayHong Kong PRINCIPAL BANKERS The Hongkong and Shanghai Banking Corporation LimitedStandard Chartered Bank (Hong Kong) LimitedHang Seng Bank LimitedUnited Overseas Bank LimitedDBS Bank (Hong Kong) LimitedChong Hing Bank Limited LEGAL ADVISOR Angela Ho & Associates AUDITOR Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor CAYMAN ISLANDS SHARE REGISTRAR Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands HONG KONG SHARE REGISTRAR ANDTRANSFER OFFICE (BRANCH REGISTRAR) 1617 Tricor Tengis Limited17th Floor, Far East Finance Centre,16 Harcourt Road,Hong Kong 595 STOCK CODE595 www.avconcept.com WEBSITEwww.avconcept.com CHAIRMAN’SSTATEMENT 主 席 致 辭 Chairman’s Statement主席致辭 On behalf of the Board of Directors, I am honored to present the annualresults of AV Concept Holdings Limited (“AV Concept” or the “Company”)together with its subsidiaries (collectively referred to as the “Group”) for theyear ended 31 March 2023 (the “year under review”). During the year under review, we found ourselves navigating a particularlychallenging and volatile operating landscape. The headline inflation rate inthe United States declined but stayed high, prompting the Federal Reserveto persistently increase interest rates. Europe grappled with its own financialsystemic risks and geopolitical instability, leading the European Central Bankto also raise interest rates to combat inflationary pressures. Furthermore, theUkrainian-Russian conflict showed little signs of resolution, sparking energyand supply chain crises that wreaked havoc in markets across the globe.Amid these complexities, the COVID-19 pandemic remained an unpredictablevariable, with sporadic local outbreaks and new variants posing consistentchallenges. As countries worldwide enter a challenging phase of economicreadjustment, the International Monetary Fund predicts a decrease in globaleconomic growth from 3.4% in 2022 to 2.8% in 2023. This slowdown isanticipated to be particularly significant in advanced economies, with growthexpected to decelerate from 2.7% in 2022 to a mere 1.3% in 2023. In lightof these circumstances, the Group’s performance for the year under reviewrevealed a revenue of approximately HK$660.0 million (2022: HK$1,042.4million). The profit attributable to the Company’s owners amounted toapproximately HK$40.7 million (2022: HK$231.0 million), with the gross profitaround HK$4.3 million (2022: HK$37.8 million). Dr. So Yuk KwanChairman AV Concept Holdings LimitedAVConcept 20223.4%20232.8%20222.7%20231.3%660,000,0001,042,400,00040,700,000231,000,0004,300,00037,800,000 Chairman’s Statement主席致辭 Gartner, Inc.202320225,9965,32011.3% As global economic headwinds persist, there is a spreading slump in theelectronics demand from not just consumers, but also businesses, making theinvestment climate increasingly unpredictable. Additionally, the oversupply ofmicrochips has led to swelling inventories and a drop in chip prices, quickeningthe downturn in the semiconductor market for this year. Gartner Inc., aninternational research and consulting firm, further forecasts a bleak short-term future for the semiconductor market. By 2023, the global semiconductorrevenue is projected to plummet from US$599.6 billion in 2022 to US$532.0billion, marking a decline of 11.3%. The report also highlights that recenttrade tensions have accelerated the de-globalization trend, giving rise totechnological nationalism. Governments around the world are proactivelybuilding self-reliant semiconductor and electronic suppl