Business
Annual Financial Report
Annual Financial Report.
About this update from Rc365 Holding Plc
[{"type":"text","content":"\n\n26 July 2023\nRC365 Holding Plc\n(\"RC365\" or the \"Company\")\nAnnual Financial Report\nRC365 Holding Plc (\"RC365\"), a company focusing on payment gateway solutions and IT support, is pleased to announce the publication of its audited Annual Report and Accounts for the year ended 31 March 2023.\nFinancial highlights\n• Revenue up by 109% to HKD16.9m (2022: HKD8.1m)\n• Loss for the year up by 38% to HKD5.4m (2022: HKD3.9m)\n• Net assets up 63% to HKD31.0m (2022: HKD19.0m)\n• Cash and cash equivalents of HKD9.5m as at 31 March 2023 (2022: HKD23.4m)\nOperational highlights\n• Launch of RC ERP and RC POS products in Q4 of FY23\n• Acquisition of RCPAY Limited (Hong Kong), Regal Crown Technology (Singapore) Pte Limited and RCPAY Limited (UK) during the year\n• White-Label Application Development Agreement with WCHING Technology Limited for the development of a mobile application product\n• Entered into a 10% Convertible Loan for an aggregated principle amount of HKD5m and convertible into new ordinary shares in HK Easy Charge, a provider of shared wireless power bank rental stations in Hong Kong.\nThe Board continues to be optimistic about the outlook for FY24 given the Group's growing pipeline of potential opportunities for further growth. The Group's cash position was approximately HKD20 million at the date of this report.\nFor further information please contact:\n\n\n\n\nRC365 Holding plc\nChi Kit LAW, Chief Executive Officer\n\n\nT: +852 2251 1621\nE: [email protected]\n\n\n\n\nGuild Financial Advisory Limited - Financial Adviser\nRoss Andrews\n\n\nT: +44 (0)7973 839767\nE: [email protected]\n\n\n\n\n \n \nCHAIRMAN'S STATEMENT\nI have great pleasure in presenting our audited financial statements to the shareholders of RC365 Holding Plc (\"RC365\" or the \"Group\") for the year ended 31 March 2023.\nThe Group delivered revenues during the year of HK$16,883k (2022: HK$8,069k). The Group continued to support its clients by providing competitive fintech solutions, helping them to adapt and to stay ahead...