Education Bureau’s “Module on Artificial Intelligence for Junior Secondary Level”
Expected to Drive Demand for AI Courses in Primary and Secondary Schools

(Hong Kong, 27 December 2023) Expert AI Enabling Limited (“EAI”), a subsidiary of Expert Systems Holdings Limited (“Expert Systems” or the “Group”, HKEX stock code: 8319), a leading information technology (IT) and innovation company in the Asia-Pacific region, recently participated in the “Learning & Teaching Expo 2023” to showcase its diverse range of artificial intelligence (AI) laboratory equipment and related courses – “Laboratory For AI Teaching And Learning” (LAITAL).

The “Learning & Teaching Expo” is a leading education event in the Asia-Pacific region. Over the years, it has received strong support from the Education Bureau of the Hong Kong SAR and the education community. It serves as an important platform for global education suppliers to showcase innovative AI technologies, virtual learning resources, IT hardware and software, STEAM and innovative learning materials, etc. Taking advantage of this annual event in the education sector, EAI presented to education professionals its LAITAL course, a collaboration program established with Lenovo Hong Kong. The course provides a diverse range of scenarios, including Smart Health Care, Smart Retail, Smart Home and Smart Office, allowing students to experience different AI applications in everyday life. The course is divided into three levels and is suitable for students at different levels in primary and secondary schools. Upon completion of the course, students will receive an official certificate issued by Lenovo Hong Kong.

The Hong Kong Government has been actively promoting STEAM education in recent years. The Education Bureau announced the introduction of the “Module on Artificial Intelligence for Junior Secondary Level” in the 2023/24 academic year, which covers topics on AI basics and ethics, computer vision, computer speech and language, virtual reality, robotics, societal impact and future of work, etc. It aims to cultivate students’ interest in and capability of learning innovation and technology from an early age. EAI anticipates a growing demand for AI-related courses among primary and secondary school students as the module is adopted.

In addition to the LAITAL course, EAI has launched a short-term AI course, “A Firsthand Experience of Practical AI”, to provide teachers and students with experience of the upcoming “Module on Artificial Intelligence for Junior Secondary Level” in advance. Participants will learn the basic concepts of AI and real-life applications of relevant technologies, stimulating their interest in the field of AI and preparing them for the new module.

Mr. Andy Lau, CEO and Executive Director of Expert Systems, said, “EAI is thrilled to have the opportunity to showcase our latest AI laboratory equipment and related courses at the ‘Learning & Teaching Expo 2023’. We have established a cooperation plan with Lenovo Hong Kong to become its partner in an AI education plan, under which both parties will jointly launch more advanced and competitive AI-related education products and courses to cultivate more outstanding AI talent. With the support of the Hong Kong Government, AI-related courses are expected to see significant growth and demand. Our team is well prepared to seize the tremendous development opportunities ahead.”

Dr. Keith Chan, Chief Technology Officer of EAI (left) and Mr. Andy Lau, CEO and Executive Director of Expert Systems (right)

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Read the complete press release here: https://www.expertsystems.com.hk/wp-content/uploads/2023/12/Press-ReleaseExpert-AI-Enabling-Limited-Joins-Learning-Teaching-Expo-2023_Clean-20231221.pdf

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Expert Systems Announces Q2FY24 Revenue Surge Approximately 26%
* * * *
Strong Demand for IT Infrastructure Solutions and Management Services

(10 November 2023, Hong Kong) — Expert Systems Holdings Limited (“Expert Systems” or the “Group”; Stock code: 8319), a leading technology and innovation company in the Asia Pacific region, today announced the unaudited interim results of the Company and its subsidiaries (the “Group”) for the six months ended 30 September 2023 (the “Reporting Period”).

During the Reporting Period, the Group recorded a notable increase of 25.7% in revenue to approximately HK$ 517.6 million, which was primarily driven by the increasing demand for both IT infrastructure solutions and IT infrastructure management services. Gross profit during the Reporting Period amounted to approximately HK$75.4 million, representing a growth of 12.3%. The adjusted profit after tax* for the Reporting Period of the Company has remained stable at approximately HK$8.5 million (1HFY23: HK$8.4 million).

Mr. Andy Lau, CEO and Executive Director of Expert Systems, said: “We are delighted to announce that Expert Systems has achieved robust performance in the first half of 2023, showcasing the resilience and strength of our business model. The solid foundation and steady growth in our topline reflects the ever-increasing market demand for our products and services. Our core businesses, IT infrastructure solutions and IT infrastructure management services, have demonstrated exceptional performance, setting the stage for future expansion.

Furthermore, we are thrilled to share the exciting news of our collaboration with Lenovo Hong Kong in advancing Artificial Intelligence (“AI”) education. We firmly believe that our AI segment holds immense potential for generating substantial returns for our shareholders in the long term. To that end, we will continue to work closely together to develop advanced and competitive AI-related education products and courses, nurturing a new generation of outstanding AI talents.”

Business Review
The Group operates through three distinct brands: “Expert Systems”, which provides IT infrastructure solutions; “ServiceOne”, which offers IT infrastructure management services; and “Expert AI Enabling” (“EAI”), which focuses on developing innovative AI products, solutions and services.

IT Infrastructure Solutions
During the Reporting Period, to capitalise on market opportunities, Expert Systems continued to strengthen strategic relationship with suppliers while enhancing specialised technical expertise and domain know-how on the latest and proven infrastructure solutions to deliver larger-scale projects. The Group also strived to develop a more diversified customer base across private and public sectors.

To capture the growing demand, Expert Systems’ long-term plan includes a strong emphasis on 1) Hybrid Cloud, Multi-Cloud & “as-a-Service”, 2) Cyber Security, and 3) Data & Application Solutions. These areas of focus enable the Group to provide higher-value, more comprehensive total solutions to its customers as they navigate their digital transformation journeys.

IT Infrastructure Management Services
The Group’s IT infrastructure management services business foresees sustained demand across the Asia-Pacific region. This includes IT outsourcing, helpdesk support, workflow automation services, and IT hardware maintenance. The expansion in Kuala Lumpur last year strengthens geographical resources, ensuring resilience amidst global economic uncertainties. The Group remains committed to exceptional services, meeting evolving IT needs, and exploring merger and acquisition opportunities for sustainable growth.

ServiceOne aims to expand its customer base in the Asia-Pacific region, targeting new industries. To achieve this, it has expanded its service portfolio to include consulting and vertical retail solutions. Additionally, 10 new branches have been established in key cities in mainland China this year, including Nanjing, Shenzhen, and Wuxi. .

AI Business
During the Reporting Period, the Group remained dedicated to the development and provision of products, solutions, and services that empower customers to leverage the power of AI across various business sectors and enterprises. With the market witnessing robust demand for AI, the Group firmly believes that its AI offerings will enrich its comprehensive IT solutions portfolio and align with Expert Systems’ growth strategy.

Capitalizing on this trend, the Group announced the establishment of a cooperative plan with Lenovo Hong Kong, wherein it will serve as a key partner in an AI education initiative. The Group aims to launch a series of AI laboratory equipment and related courses specifically designed for primary and secondary schools, and deliver enhanced value to its clients and further solidify its position in the industry.

Mr. Andy Lau, CEO and Executive Director of Expert Systems, concluded: “Moving forward, Expert System’s dedication to our core businesses remains unwavering as we strive to deliver innovative and integrated products, solutions, and services to both private and public sectors throughout the Asia-Pacific region. We have taken significant steps to strengthen the Group, ensuring resilience in navigating the evolving business landscape as the local and global economy gradually recovers. Given the ‘new normal’ business environment, we will maintain a cautious approach in managing business risks. We are well-prepared to tackle the challenges presented by the ever-changing economic and business landscape.”

Read the announcement of the detailed results here: https://www.expertsystems.com.hk/wp-content/uploads/2023/11/EW08319-ann.pdf

*Adjusted net profit after tax represents net profit after tax for the period excluding government grants received during the period of approx. HK$0.2 million (six months ending 30 September 2022: approx. HK$4.7 million).

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Embraces AI Development Trend
Promotes AI education in Primary and Secondary Schools

(Hong Kong, 13 September 2023)  Expert AI Enabling Limited (“EAI”), a subsidiary of Expert Systems Holdings Limited (“Expert Systems” or the “Group”, HKEX stock code: 8319), a leading information technology company in the Asia-Pacific region, is pleased to announce today that it has established a cooperation plan with Lenovo Hong Kong whereby it will become its partner in an Artificial Intelligence (“AI”) education plan, under which both parties will jointly launch a series of AI laboratory equipment and related courses specifically designed for primary and secondary schools.

With the rapid advancement of AI, it has emerged as a pivotal factor in enhancing global competitiveness, the cultivation of talent is essential for driving this progress forward. The demand for AI talents is growing across various sectors, AI education has become a key area of highly sought-after field worldwide. EAI understands the growing importance of AI education in supporting comprehensive learning of the next generation and preparing them for future challenges. Therefore, since its establishment mid-last year, EAI has been dedicated to developing innovative AI education products that are specifically designed and suitable for primary and secondary schools, with over HK$10 million investment in research and development. Lenovo Hong Kong, which has been a partner of EAI’s parent company, Expert Systems for many years, also shares the same vision, and this shared belief has facilitated collaboration between both parties.

The cooperation arrangement includes co-marketing with Lenovo Hong Kong of a series of AI laboratory equipment and related courses, which will be sold to primary and secondary schools through Lenovo Hong Kong. EAI will lead the research and development of related laboratory equipment, course design and provision of training; while Lenovo Hong Kong will advise sales strategies, provide marketing support and align sales channels, and offer relevant technical equipment used for experiments and courses, such as AI Edge Computing Devices and Servers etc., as well as professional advice throughout the cooperation project. Both parties hope to enhance students’ interest in learning AI through diversified, interesting and highly interactive experiments and courses, which will help to lay a solid foundation for them as they apply AI in their studies or work in the future.

With the widespread use of AI in various fields and sectors, the Hong Kong government has explicitly expressed support to schools to promote AI education. This is aimed at cultivating local AI talents by actively allocating resources to organize AI-related activities, and enhancing AI equipment and facilities within schools. These initiatives highlight the government’s support for and emphasis on STEAM education, including AI education, in primary and secondary schools. Furthermore, Dr. Keith Chan, the Chief Technology Officer of EAI, will lead his research team in the development and design of laboratory equipment and curriculum etc. He was ranked among the top 2% of scientists in the world in the field of AI and image processing on Stanford University’s list of top scientists. With over thirty years of experience in developing AI-related curriculum planning, course development, teaching and research, Dr. Chan is one of the pioneers in AI education.

Mr. Andy Lau, CEO and Executive Director of Expert Systems, said, “EAI is greatly honoured and delighted to jointly promote AI education in Hong Kong and other areas in Asia Pacific with Lenovo, one of the top global technology and innovation corporates. The education sector has been vigorously promoting STEAM education, and the widespread promotion and popularization of AI education have become imperative. In fact, governments worldwide, including Mainland China, the United States, and Singapore, have already formulated and implemented AI education strategies, which include introducing relevant courses at the primary and secondary school levels. We will strive to jointly launch more advanced and competitive AI-related education products and courses to cultivate more excellent AI talents. Therefore, I believe that our collaboration with Lenovo Hong Kong is meaningful.

Mr. Jonathan Cheng, Head of Strategy and Sales (Hong Kong and Macau) of Lenovo Hong Kong, said, “Lenovo has always been committed to achieving ‘Smarter Technology for All’, hoping to bring smarter technology to the new generation of educators and students. We believe that every educator should have access to the most advanced tools and resources to unleash their creativity and expertise in teaching. Similarly, every student should have equal opportunities to experience the best learning outcomes in digital classrooms. Our collaboration with EAI aligns perfectly with this vision, as we leverage innovative educational solutions to empower educational institutions in fully utilizing AI technology. Lenovo Group also plans to invest an additional US$1 billion over the next three years to accelerate the use of AI among global enterprises.”

From left to right: Dr. Keith Chan, Chief Technology Officer of EAI, Mr. Andy Lau, CEO and Executive Director of Expert Systems, Ms. Fan Ho, General Manager (Hong Kong and Macau) of Lenovo Hong Kong and Mr. Jonathan Cheng, Head of Strategy and Sales (Hong Kong and Macau) of Lenovo Hong Kong at the signing ceremony.

EAI has established a cooperation plan with Lenovo Hong Kong whereby it will become its partner in an AI education plan, under which both parties will jointly launch a series of AI laboratory equipment and related courses specifically designed for primary and secondary schools.

Dr. Keith Chan, the Chief Technology Officer of EAI (1st from the left), will lead his research team in the development and the design of laboratory equipment and curriculum etc. He was ranked among the top 2% of scientists in the world in the field of AI and image processing on Stanford University’s list of top scientists. Dr. Chan is one of the pioneers in AI education.

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Read the complete press release here: https://www.expertsystems.com.hk/wp-content/uploads/Press-Release

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Expert Systems’ Q1 FY24 Revenue Surge Around 25% y-o-y
* * * *
Driven by Growing Demand for both
IT Infrastructure Solutions and IT Infrastructure Management Services

(8 Aug 2023, Hong Kong) — Expert Systems Holdings Limited (“Expert Systems” or the “Group”; Stock code: 8319), a leading technology and innovation company in the Asia Pacific region, announced the unaudited financial results of the Company and its subsidiaries (the “Group”) for the three months ended 30 June 2023 (the “Reporting Period”).

During the Reporting Period, the Group’s revenue increased notably by 25.3% year-on-year to approximately HK$227.5 million, which was primarily driven by the increase in demand for both IT infrastructure solutions and IT infrastructure management services. Gross profit during the Reporting Period amounted to approximately HK$36.4 million, representing a increase of 14.2%. The profit for the Reporting Period was registered approximately at HK$3.7 million, representing a growth of about 17.6% as compared to the adjusted profit* for the corresponding period of 2022.

Business Review
The Group operates through three distinct brands: “Expert Systems”, which provides IT infrastructure solutions; “ServiceOne”, which offers IT infrastructure management services; and “Expert AI Enabling” (“EAI”), which focuses on developing innovative AI products, solutions and services.

IT Infrastructure Solutions
During the Reporting Period, to capitalise on market opportunities, Expert Systems continued to strengthen strategic relationship with suppliers while enhancing specialised technical expertise and domain know-how on the latest and proven infrastructure solutions to deliver larger-scale projects. The Group also strived to develop a more diversified customer base across private and public sectors.

To capture the growing demand, Expert Systems’ long-term plan includes a strong emphasis on 1) Hybrid Cloud, Multi-Cloud & “as-a-Service”, 2) Cyber Security, and 3) Data & Application Solutions. These areas of focus enable the Group to provide higher-value, more comprehensive total solutions to its customers as they navigate their digital transformation journeys.

IT Infrastructure Management Services
IT infrastructure management services business of the Group anticipates continued demand for high-quality services across the Asia-Pacific region. This includes IT outsourcing, helpdesk support, workflow automation services, and IT hardware maintenance. ServiceOne’s recent expansion in Kuala Lumpur, Malaysia strengthens its resources’ geographical distribution, ensuring resilience in serving customers amidst the global economic uncertainties. The Group remains committed to providing exceptional services and meeting the evolving IT needs of enterprises and institutions in the region.

ServiceOne is committed to exploring new business opportunities – it aims to expand its customer base by targeting new industries across the Asia-Pacific region, while also creating additional value for its existing customers. To achieve such goals, ServiceOne has expanded its services portfolio to include consulting services and vertical retail solutions, to better meet the evolving needs of its customers and provide them with a more comprehensive suite of services. Furthermore, ServiceOne plans to establish 10 additional branches in key cities in mainland China, including Nanjing, Shenzhen and Wuxi etc., by the end of this year.

AI Business
During the Reporting Period, the Group remained dedicated to the development and provision of products, solutions, and services that empower customers to leverage the power of AI across various business sectors and enterprises. With the market witnessing robust demand for AI, the Group firmly believes that its AI offerings will enrich its comprehensive IT solutions portfolio and align with Expert Systems’ growth strategy. By capitalizing on this trend, the Group aims to deliver enhanced value to its clients and further solidify its position in the industry.

Mr. Andy Lau, CEO and Executive Director of Expert Systems, concluded: “Looking forward, we remain committed to our core businesses in providing innovative and integrated products, solutions and services to both private and public sectors across the Asia-Pacific region. We are dedicated to reinforcing the resilience of our organization to effectively navigate the evolving business landscape as the local and global economy gradually recovers. Our commitment to innovation fuels our passion for providing exceptional value and driving success for our customers.”

Read the announcement of the detailed results here: https://www.expertsystems.com.hk/wp-content/uploads/2023/08/20230808-FirstQuarterReport2024.pdf

* Excluding the one-off subsidy under Employment Support Scheme launched by the Hong Kong Government of about HK$2.4 million for the three months ended 30 June 2022.

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Expert Systems’ FY23 Revenue and Net Profit Surge Around 30%
* * * *
Solid Performance Bolstered by IT Infrastructure Management Services’ Demand
Recommended Final Dividend of HK1.00 Cent per Share

(21 June 2023, Hong Kong) — Expert Systems Holdings Limited (“Expert Systems” or the “Group”; Stock code: 8319), a leading technology and innovation company in the Asia Pacific region, today announced the audited annual results of the Company and its subsidiaries (the “Group”) for the year ended 31 March 2023 (the “Reporting Year”).

During the Reporting Year, the Group’s revenue increased notably by 30.0% to approximately HK$886.5 million, which was primarily driven by the net effect of increased demand from customers and additional contribution from the IT infrastructure management services. Gross profit amounted to approximately HK$139.3million for the Reporting Year, representing a significant increase of 32.8%. Profit for the year of the Company surged by 34.5% to approximately HK$22.7million for the Reporting Year.

The Board recommends a final dividend of HK1.00 cent (FY2022: HK0.77 cent) per ordinary share, resulting in a dividend payout ratio of 40.88%. The payment of the final dividend is subject to the approval of the shareholders at the forthcoming annual general meeting (the “AGM”).

Mr. Andy Lau, CEO and Executive Director of Expert Systems, said: “We are pleased to announce that Expert Systems has delivered a satisfactory performance in FY2023, which is a testament to the resilience and strength of the company’s business model. Our revenue and net profit have recorded satisfactory increases, indicating a healthy growth trend. Also, our two core businesses, namely IT infrastructure solutions and IT infrastructure management services, have exhibited strong performance, reflecting a solid foundation for further development. Furthermore, we believe that the recent addition of our AI segment has the potential to generate significant returns for our shareholders in the future. We remain optimistic about the opportunities that this new addition presents, and we are committed to maximizing its potential through continued investment and strategic planning.”

Business Review
The Group operates through three distinct brands: “Expert Systems”, which provides IT infrastructure solutions; “ServiceOne”, which offers IT infrastructure management services; and “Expert AI Enabling” (“EAI”), which focuses on developing innovative AI products, solutions and services.

IT Infrastructure Solutions
During the Reporting Year, the IT infrastructure solutions segment was driven by the ongoing trend of digital transformation among enterprises and institutions, which seeks to enhance operational efficiency, optimize data utilization for business analytics and decision-making, and create new digital business models through online channels.
To capture the growing demand, Expert Systems’ long-term plan includes a strong emphasis on 1) Hybrid Cloud, Multi-Cloud & “as-a-Service”, 2) Cyber Security, and 3) Data & Application Solutions. These areas of focus enable the Group to provide higher-value, more comprehensive total solutions to its customers as they navigate their digital transformation journeys.

IT Infrastructure Management Services
During the Reporting Year, the IT infrastructure management services business of the Group set up the second service desk centre in Kuala Lumpur, Malaysia, strengthens its resources geographically and ensures resilience in serving customers amid the uncertain global economy. The Group anticipates a growing market demand for high-quality IT infrastructure management services across the Asia-Pacific region, including IT outsourcing, helpdesk, workflow automation, and hardware maintenance.

Expert Systems is committed to exploring new business opportunities – it aims to expand its customer base by targeting new industries across the Asia-Pacific region, while also creating additional value for its existing customers. To achieve such goals, the Group has expanded its services portfolio to include consulting services and vertical retail solutions, to better meet the evolving needs of its customers and provide them with a more comprehensive suite of services.

AI Business
During the Reporting Year, Expert Systems established EAI – a joint venture with Dr. Keith Chan, a former Professor of Computing Science, which focuses on developing innovative products, solutions and services that help schools, enterprises, and government organizations effectively leverage AI in their operations. In view of the growing demand for AI, EAI specialises in machine learning, data analytics, image and speech processing, and natural language processing (NLP) and more. With its newly-opened R&D lab, one of the current developing products by EAI is based on NLP technology to provide ChatGPT-like experience for enterprises and institutions.

Mr. Andy Lau, CEO and Executive Director of Expert Systems, concluded: “Looking forward, we remain committed to our core businesses in providing innovative and integrated products, solutions and services to both private and public sectors across the Asia-Pacific region. With the pandemic subsiding and economic activities resuming normal, we are confident in the future development of the Group and aim to capitalize on emerging opportunities in the market. We strive to remain at the forefront of innovation in the IT industry, providing cutting-edge products, solutions and services that enable its customers to achieve their business goals and optimize their operations.”

Read the announcement of the detailed results here: https://www.expertsystems.com.hk/wp-content/uploads/2023/06/420230626-AnnualReport2023.pdf

Highlights:

• Revenue for the year ended 31 March 2023 (the “Reporting Year” or “FY2023”) increased by approximately 30.0% from that for the year ended 31 March 2022 (the “Corresponding Year” or “FY2022”) to approximately HK$886.5 million.
• Gross profit for the Reporting Year increased by approximately 32.8% from the Corresponding Year to approximately HK$139.3 million.
• Profit for the year attributable to owners of the Company for the Reporting Year increased by approximately 29.1% to approximately HK$19.7 million as compared to the Corresponding Year.
• Basic earnings per share increased by approximately 28.9% from approximately HK1.90 cents for the Corresponding Year to approximately HK2.45 cents for the Reporting Year.

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Specializes in Innovative AI-enabled Products and Solutions Enables AI Adoption Across Industries

(28 February 2023, Hong Kong) — Expert Systems Holdings Limited (“Expert Systems” or the “Group”; Stock code: 8319), a leading IT solutions and services provider in Hong Kong, celebrated the grand opening of the new R&D lab of its subsidiary, Expert AI Enabling Limited (“EAI”) on 23 February 2023.

EAI is a joint ventured established by Expert Systems and Dr. Keith Chan, a former Professor of Computing Science, on 21 June 2022. EAI specializes in the development of innovative products and solutions that enable schools, enterprises, and government organizations to make the best use of AI in their business.

Dr. Keith Chan, Chief Technology Officer of EAI, is ranked among the top 2% of scientists in the world in the field of Artificial Intelligence and Image Processing on Stanford University’s list of top scientists. He explained: “We aim to offer unique and customized solutions that are tailored to the needs of continuously evolving industries, enabling everyone to take advantage of advanced analytics methodologies to discover new insights for innovative ideas. We specialize in machine learning, data analytics, image and speech processing, and natural language processing (NLP) and more. In particular, we are currently developing products based on NLP technology such as ChatGPT.

Innovation and technology is among the key policy priorities of the HKSAR Government. In view of the growing demand for AI, I look forward to EAI in developing the most cutting edge solutions and products for clients all over the globe.”

Mr. Andy Lau, CEO and Executive Director of Expert Systems, said: “It is my honor to present the new R&D lab of EAI which marks another significant milestone for the Group. As a tech company, we are committed to investing for the future, and we believe AI is the future which has enormous potential to benefit humanity. As a group, now that we have developed our own products and intellectual properties, we are no longer solely focused on reselling third-party technology products and providing the relevant services. Looking forward, with our extensive technical expertise, business strength and operational capabilities, we’re fully confident of achieving sustainable growth and delivering value to our shareholders in the long run.”

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Read the complete press release here: https://www.expertsystems.com.hk/wp-content/uploads/2023/03/20230228_EAIGrandopening_pressrelease.pdf

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In the first nine months of the current fiscal year, we continued achieving remarkable “Grand Slam” year-over-year growth in terms of revenue, gross profit, net profit and basic earnings per share when compared with the corresponding period of the last fiscal year. We sincerely thank all customers, partners, employees, directors and shareholders for their continued tremendous support!

Expert Systems Holdings Limited third quarterly results for the nine months ended 31 December 2022.

Read the detail results announcement here: https://www.expertsystems.com.hk/wp-content/uploads/2023/02/20230209-3QResultsAnnouncement_Feb23.pdf

Highlights:

• Revenue for the nine months ended 31 December 2022 (the “Reporting Period”) increased by approximately 51.1% from that for the nine months ended 31 December 2021 (the “Corresponding Period”) to approximately HK$667.4 million.
• Gross profit for the Reporting Period increased by approximately 46.9% from the Corresponding Period to approximately HK$105.1 million.
• Profit for the Reporting Period increased by approximately 41.4% to approximately HK$19.9 million as compared to the Corresponding Period. Excluding one-off professional fees of approximately HK$3.1 million in relation to the acquisition of 70% of the issued share capital of ServiceOne International Holdings Limited recorded in the Corresponding Period and the COVID-19 government subsidies of approximately HK$5.2 million received from various governments during the Reporting Period (2021: HK$0.3 million), the adjusted profit for the Reporting Period amounted to approximately HK$14.7 million, representing a decrease of approximately 12.8% from HK$16.9 million in the Corresponding Period.
• Basic earnings per share increased by approximately 32.1% from approximately HK1.56 cents for the Corresponding Period to approximately HK2.06 cents for the Reporting Period.

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