Net-a-Go Technology Company Limited
For the year ended 31 December 2021 ( “the Year”), the Group was principally engaged in three operating segments, (i) environmental maintenance business; (ii) property leasing business; and (iii) securities trading business. The Group recorded a revenue of approximately HK$332,047,000 for the Year, compared
to a revenue of approximately HK$255,443,000 for the year ended 31 December 2020, representing an increase of approximately 30.0%. However, the gross profit ratio for the Year was approximately 24.7%, which was lower than gross profit ratio of approximately 35.6% for the year ended 31 December 2020. The drop in gross profit ratio was mainly attributable from the environmental maintenance business because of:
a) Certain environmental maintenance service contracts with high gross profit margin (Gross profit ratio ranged from 37.0% to 56.0%) were completed and did not renew during the year of 2021.
b) Certain new environmental maintenance service contracts engaged in the year of 2021 have comparative low profit margin (Gross profit ratio ranged from 5.7% to 11.1%).
c) Decrease in relief related to value-added-tax (“VAT Relief”) granted by the local government in the PRC due to the COVID-19 pandemic from the amount of
approximately RMB14,000,000 for the year ended 31 December 2020 to approximately RMB2,100,000 for the Year.
Gross profit for the Year amounted to approximately HK$81,852,000 (2020: Approximately HK$91,033,000). After taking into account of the general and administrative expenses, other income and net other gain, net finance income, income tax expenses and other comprehensive income, the Group recorded total comprehensive income attributable to the equity holders of the Company from continuing operations of approximately HK$48,439,000 (2020: