Reported Earnings • Jul 02
Full year 2026 earnings released: US$0.12 loss per share (vs US$0.088 loss in FY 2025) Full year 2026 results: US$0.12 loss per share (further deteriorated from US$0.088 loss in FY 2025). Revenue: US$51.3m (down 17% from FY 2025). Net loss: US$13.8m (loss widened 42% from FY 2025). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. Independent Non-Executive Director Kenneth Chan was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Jun 19
Contel Technology Company Limited to Report Fiscal Year 2026 Results on Jun 30, 2026 Contel Technology Company Limited announced that they will report fiscal year 2026 results at 12:30 PM, China Standard Time on Jun 30, 2026 New Risk • Jun 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (74% average weekly change). Earnings have declined by 61% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (HK$278.0m market cap, or US$35.5m). New Risk • Jun 09
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 73% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (73% average weekly change). Earnings have declined by 61% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (HK$217.4m market cap, or US$27.7m). New Risk • Apr 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 61% per year over the past 5 years. Market cap is less than US$10m (HK$64.6m market cap, or US$8.24m). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • Jan 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$77.7m (US$9.97m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 61% per year over the past 5 years. Market cap is less than US$10m (HK$77.7m market cap, or US$9.97m). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Reported Earnings • Nov 30
First half 2026 earnings released: US$0.036 loss per share (vs US$0.042 loss in 1H 2025) First half 2026 results: US$0.036 loss per share (improved from US$0.042 loss in 1H 2025). Revenue: US$28.4m (down 21% from 1H 2025). Net loss: US$3.90m (loss narrowed 15% from 1H 2025). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Nov 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$10.4m (US$1.34m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 68% per year over the past 5 years. Market cap is less than US$10m (HK$10.4m market cap, or US$1.34m). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Tillkännagivande • Nov 17
Contel Technology Company Limited to Report First Half, 2026 Results on Nov 27, 2025 Contel Technology Company Limited announced that they will report first half, 2026 results on Nov 27, 2025 New Risk • Oct 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 68% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (HK$109.4m market cap, or US$14.1m). New Risk • Oct 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 68% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (HK$98.8m market cap, or US$12.7m). Tillkännagivande • Oct 10
Contel Technology Company Limited has completed a Follow-on Equity Offering in the amount of HKD 14.2753 million. Contel Technology Company Limited has completed a Follow-on Equity Offering in the amount of HKD 14.2753 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 219,620,000
Price\Range: HKD 0.065
Discount Per Security: HKD 0.002275
Transaction Features: Subsequent Direct Listing Tillkännagivande • Sep 23
Contel Technology Company Limited has filed a Follow-on Equity Offering in the amount of HKD 14.275591 million. Contel Technology Company Limited has filed a Follow-on Equity Offering in the amount of HKD 14.275591 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 219,624,476
Price\Range: HKD 0.065
Discount Per Security: HKD 0.002275
Transaction Features: Subsequent Direct Listing Tillkännagivande • Aug 19
Contel Technology Company Limited, Annual General Meeting, Sep 12, 2025 Contel Technology Company Limited, Annual General Meeting, Sep 12, 2025, at 10:30 China Standard Time. Location: unit a, 13th floor, block 1, leader industrial centre, no. 188-202 texaco road, tsuen wan, Hong Kong Reported Earnings • Aug 03
Full year 2025 earnings released: US$0.009 loss per share (vs US$0.009 loss in FY 2024) Full year 2025 results: US$0.009 loss per share (in line with FY 2024). Revenue: US$61.6m (down 5.5% from FY 2024). Net loss: US$9.71m (loss narrowed 1.0% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 02
Full year 2025 earnings released: US$0.009 loss per share (vs US$0.009 loss in FY 2024) Full year 2025 results: US$0.009 loss per share (in line with FY 2024). Revenue: US$61.6m (down 5.5% from FY 2024). Net loss: US$9.71m (loss narrowed 1.0% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jun 18
Contel Technology Company Limited to Report Fiscal Year 2025 Results on Jun 30, 2025 Contel Technology Company Limited announced that they will report fiscal year 2025 results at 9:30 AM, China Standard Time on Jun 30, 2025 New Risk • Apr 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$76.9m (US$9.89m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 70% per year over the past 5 years. Market cap is less than US$10m (HK$76.9m market cap, or US$9.89m). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Reported Earnings • Mar 01
Full year 2024 earnings released: US$0.007 loss per share (vs US$0.009 loss in FY 2023) Full year 2024 results: US$0.007 loss per share (improved from US$0.009 loss in FY 2023). Revenue: US$62.4m (down 5.9% from FY 2023). Net loss: US$7.95m (loss narrowed 19% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. New Risk • Feb 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$17m free cash flow). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 71% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$124.1m market cap, or US$16.0m). Tillkännagivande • Feb 18
Contel Technology Company Limited to Report Fiscal Year 2024 Results on Feb 28, 2025 Contel Technology Company Limited announced that they will report fiscal year 2024 results on Feb 28, 2025 Reported Earnings • Oct 03
First half 2024 earnings released: US$0.003 loss per share (vs US$0.002 loss in 1H 2023) First half 2024 results: US$0.003 loss per share (further deteriorated from US$0.002 loss in 1H 2023). Revenue: US$30.8m (down 7.0% from 1H 2023). Net loss: US$2.83m (loss widened 4.5% from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Tillkännagivande • Aug 16
Contel Technology Company Limited to Report First Half, 2024 Results on Aug 28, 2024 Contel Technology Company Limited announced that they will report first half, 2024 results on Aug 28, 2024 New Risk • Jul 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: HK$78.0m (US$9.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (38% average weekly change). Earnings have declined by 63% per year over the past 5 years. Market cap is less than US$10m (HK$78.0m market cap, or US$9.99m). New Risk • Jun 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Hong Kong stocks, typically moving 37% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (37% average weekly change). Earnings have declined by 63% per year over the past 5 years. Minor Risk Market cap is less than US$100m (HK$115.3m market cap, or US$14.8m). Reported Earnings • Mar 27
Full year 2023 earnings released: US$0.009 loss per share (vs US$0.002 loss in FY 2022) Full year 2023 results: US$0.009 loss per share (further deteriorated from US$0.002 loss in FY 2022). Revenue: US$66.3m (down 46% from FY 2022). Net loss: US$9.75m (loss widened US$8.17m from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Tillkännagivande • Mar 15
Contel Technology Company Limited to Report Fiscal Year 2023 Results on Mar 26, 2024 Contel Technology Company Limited announced that they will report fiscal year 2023 results on Mar 26, 2024 Reported Earnings • Sep 04
First half 2023 earnings released: US$0.002 loss per share (vs US$0.002 profit in 1H 2022) First half 2023 results: US$0.002 loss per share (down from US$0.002 profit in 1H 2022). Revenue: US$33.1m (down 55% from 1H 2022). Net loss: US$2.71m (down 293% from profit in 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Tillkännagivande • Aug 19
Contel Technology Company Limited to Report First Half, 2023 Results on Aug 31, 2023 Contel Technology Company Limited announced that they will report first half, 2023 results on Aug 31, 2023 Tillkännagivande • Jul 01
Contel Technology Company Limited Announces Board Changes The board of directors of Contel Technology Company Limited announced that Mr. NF Chan has resigned as an independent non-executive Director, the chairman of the audit committee, a member of the nomination committee of the Board, all with effect from 30 June 2023. The Board announced that Mr. Kenneth Chan has been appointed as an independent non-executive Director, the chairman of the Audit Committee, and a member of the Nomination Committee, all with effect from 30 June 2023. Mr. Kenneth Chan, aged 45, obtained a bachelor's degree of art in accountancy from the Edinburgh Napier University, United Kingdom, and a higher diploma in accountancy from the City University of Hong Kong in February 2008 and August 2002, respectively. Mr. Kenneth Chan has over 20 years of experience in accounting, auditing, and financial management, as well as merger and acquisition of listing entities and private sectors in Hong Kong, Singapore, and the PRC. Mr. Kenneth Chan joined Premier Accounting and Corporate Services Limited as a senior consultant since January 2022. He served in several international accounting firms since 2004 and became a senior manager in assurance and audit services of BDO Limited since October 2011 until he resigned in November 2015. He joined Moore CPA Limited as a senior manager, assurance and audit service in December 2015, and was promoted as a deputy director, consulting service in April 2018 until he resigned in November 2021. Reported Earnings • Mar 31
Full year 2022 earnings released: US$0.015 loss per share (vs US$0.003 profit in FY 2021) Full year 2022 results: US$0.015 loss per share (down from US$0.003 profit in FY 2021). Revenue: US$121.7m (down 45% from FY 2021). Net loss: US$1.58m (down 173% from profit in FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 15 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Ngai Fan Chan was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Oct 07
Contel Technology Company Limited Provides Group Revenue Guidance for the Year Ending 31 December 2022 Contel Technology Company Limited provided group revenue guidance for the year ending 31 December 2022. The Board foresees that the Group's revenue for the year ending 31 December 2022 will be lower compared to USD 222 million achieved in 2021. Reported Earnings • Sep 02
First half 2022 earnings released: EPS: US$0 (vs US$0.002 in 1H 2021) First half 2022 results: EPS: US$0 (down from US$0.002 in 1H 2021). Revenue: US$72.8m (down 40% from 1H 2021). Net income: US$1.40m (down 16% from 1H 2021). Profit margin: 1.9% (up from 1.4% in 1H 2021). The increase in margin was driven by lower expenses. Tillkännagivande • Aug 23
Contel Technology Company Limited to Report First Half, 2022 Results on Aug 31, 2022 Contel Technology Company Limited announced that they will report first half, 2022 results on Aug 31, 2022 Tillkännagivande • May 02
Contel Technology Company Limited, Annual General Meeting, Jun 08, 2022 Contel Technology Company Limited, Annual General Meeting, Jun 08, 2022, at 15:00 China Standard Time. Location: Unit A, 13th Floor Block 1, Leader Industrial Centre, No. 188-202 Texaco Road Tsuen Wan Hong Kong Agenda: To receive, consider and adopt the audited consolidated financial statements and the reports of the directors and independent auditor of the Company and its subsidiaries for the year ended 31 December 2021; to re-elect Mr. Qing Haodong as an executive Director; to re-elect Mr. Mai Lu as an executive Director; to re-elect Mr. Dan Kun Lei, Raymond as an independent non-executive Director; to re-elect Mr. Chan Ngai Fan as an independent non-executive Director; to authorize the board of Directors (the "Board") to fix the remuneration of the Directors; to re-appoint Moore Stephens CPA Limited as the independent auditor of the Company and to authorize the Board to fix its remuneration; and to transact other matters. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Ngai Fan Chan was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 03
Full year 2021 earnings released: EPS: US$0.021 (vs US$0.003 in FY 2020) Full year 2021 results: EPS: US$0.021 (up from US$0.003 in FY 2020). Revenue: US$222.0m (up 44% from FY 2020). Net income: US$2.17m (up 7.4% from FY 2020). Profit margin: 1.0% (down from 1.3% in FY 2020). The decrease in margin was driven by higher expenses. Tillkännagivande • Mar 23
Contel Technology Company Limited to Report Fiscal Year 2021 Results on Mar 31, 2022 Contel Technology Company Limited announced that they will report fiscal year 2021 results on Mar 31, 2022 Tillkännagivande • Mar 04
Contel Technology Company Limited Announces Appointment of Chan Ngai Fan as Independent Non-Executive Director, Chairman of the Audit Committee and A Member of the Nomination Committee Contel Technology Company Limited announced that Mr. Chan Ngai Fan ("Mr. Chan") has been appointed as an independent non-executive Director, the chairman of the audit committee and a member of the nomination committee of the Board, all with effect from 2 March 2022. Mr. Chan is a member of the Hong Kong Institute of Certified Public Accountants (Practising), and an associate member of the Hong Kong Institute of Chartered Secretaries since February 2011 and November 2019, respectively. Mr. Chan has approximately 15 years of experience in auditing, accounting and financial management. In the early stage of his career, Mr. Chan worked successively in JBPB & Company (formerly known as Grant Thornton and later merged with BDO Limited), with his last position as an assistant manager in assurance from August 2007 to February 2011. From March 2011 to April 2015, he served as the chief financial officer of a PRC-based mining company. Mr. Chan then acted as the financial controller of KPa-BM Holdings Limited (stock code: 2663) from May 2015 to April 2018. Mr. Chan was the financial controller and company secretary of Heysea Yachts Holdings Company Limited from May 2019 to April 2020. Reported Earnings • Oct 07
First half 2021 earnings released: EPS US$0.002 (vs US$0.002 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: US$121.0m (up 92% from 1H 2020). Net income: US$1.68m (up 1.5% from 1H 2020). Profit margin: 1.4% (down from 2.6% in 1H 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Sep 05
First half 2021 earnings released: EPS US$0.002 (vs US$0.002 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were weaker. First half 2021 results: Revenue: US$121.0m (up 92% from 1H 2020). Net income: US$1.68m (up 1.5% from 1H 2020). Profit margin: 1.4% (down from 2.6% in 1H 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Apr 02
Full year 2020 earnings released: EPS US$0.02 (vs US$0.004 in FY 2019) The company reported a mediocre full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: US$153.9m (up 52% from FY 2019). Net income: US$2.02m (down 20% from FY 2019). Profit margin: 1.3% (down from 2.5% in FY 2019). The decrease in margin was driven by higher expenses. Tillkännagivande • Mar 16
Contel Technology Company Limited to Report Fiscal Year 2020 Results on Mar 31, 2021 Contel Technology Company Limited announced that they will report fiscal year 2020 results on Mar 31, 2021 Is New 90 Day High Low • Jan 22
New 90-day high: HK$0.29 The company is up 24% from its price of HK$0.24 on 23 October 2020. The Hong Kong market is up 20% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Electronic industry, which is up 34% over the same period. Is New 90 Day High Low • Dec 08
New 90-day low: HK$0.21 The company is down 36% from its price of HK$0.33 on 09 September 2020. The Hong Kong market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 7.0% over the same period. Is New 90 Day High Low • Nov 19
New 90-day low: HK$0.22 The company is down 47% from its price of HK$0.41 on 21 August 2020. The Hong Kong market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 7.0% over the same period. Is New 90 Day High Low • Nov 02
New 90-day low: HK$0.22 The company is down 20% from its price of HK$0.28 on 04 August 2020. The Hong Kong market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 13% over the same period. Reported Earnings • Sep 30
First half earnings released Over the last 12 months the company has reported total profits of US$3.76m, up 35% from the prior year. Total revenue was US$127.7m over the last 12 months, up 74% from the prior year. Tillkännagivande • Aug 22
Contel Technology Company Limited to Report First Half, 2020 Results on Aug 28, 2020 Contel Technology Company Limited announced that they will report first half, 2020 results on Aug 28, 2020 
