Financial Performance - The company reported revenue of HKD 275,060,000 for the six months ended September 30, 2019, a decrease of 1.8% compared to HKD 280,567,000 in the same period last year[4]. - The company experienced a net loss of HKD 55,432,000 in impairment losses on receivables, significantly higher than HKD 5,719,000 in the previous year, indicating a 868.5% increase[4]. - The pre-tax profit for the period was HKD 135,647,000, down 18.3% from HKD 165,932,000 in the prior year[4]. - The net profit for the period was HKD 109,067,000, a decrease of 13.2% compared to HKD 125,546,000 in the same period last year[4]. - The total comprehensive income for the period was HKD 94,820,000, down 21.9% from HKD 121,687,000 in the previous year[8]. - Basic earnings per share decreased to HKD 0.96 from HKD 1.14, reflecting a decline of 15.8%[8]. - The company reported a total revenue of HKD 6,670,118 thousand for the period ending September 30, 2019[20]. - The profit attributable to equity holders for the six months ended September 30, 2019, was HKD 92,775,000, a decrease of 15.7% compared to HKD 110,075,000 in 2018[54]. - The brokerage business recorded a loss of approximately HKD 1.4 million, a decline of 124.1% compared to a profit of HKD 5.8 million in 2018, with revenue decreasing by 36.2% to approximately HKD 19.9 million[110]. Assets and Liabilities - The company’s non-current assets totaled HKD 1,661,678,000 as of September 30, 2019, compared to HKD 1,652,917,000 as of March 31, 2019, showing a slight increase of 0.5%[11]. - The company’s total assets amounted to HKD 1,279,422 thousand, reflecting a stable asset base[20]. - The total assets as of September 30, 2019, amounted to HKD 7,988,188,000, compared to HKD 8,318,165,000 as of March 31, 2019, indicating a reduction of 3.9%[40]. - The company’s liabilities were reported at HKD 5,474,836 thousand, indicating a significant leverage position[20]. - The total liabilities as of September 30, 2019, were HKD 1,384,124,000, a decrease from HKD 1,685,283,000 as of March 31, 2019, reflecting a decline of 17.9%[40]. - The company’s cash and cash equivalents in customer accounts decreased to HKD 796,312,000 from HKD 1,143,120,000, a decline of 30.4%[11]. - The company reported a bank loan of HKD 250,000 thousand, significantly up from HKD 50,000 thousand, indicating a 400% increase[13]. - The total loans and advances as of September 30, 2019, amounted to HKD 868,007,000, down from HKD 1,086,200,000 as of March 31, 2019[65]. - The total liabilities from accounts payable decreased from HKD 1,196,203,000 to HKD 914,413,000, showing improved liquidity management[78]. Cash Flow - For the six months ended September 30, 2019, the net cash used in operating activities was HKD (31,815) thousand, a significant decrease from HKD 248,475 thousand in the same period of 2018[25]. - The net cash generated from investing activities was HKD 119,156 thousand, compared to a net cash used of HKD (153,839) thousand in the previous year[25]. - The net cash used in financing activities was HKD (189,138) thousand, an improvement from HKD (346,957) thousand in the same period of 2018[25]. - The total cash and cash equivalents decreased by HKD (101,797) thousand, compared to a decrease of HKD (252,321) thousand in the prior year[25]. - As of September 30, 2019, the cash and cash equivalents balance was HKD 404,165 thousand, down from HKD 496,966 thousand at the end of the previous year[25]. Dividends and Share Capital - The company declared dividends of HKD 169,097,000, down from HKD 193,254,000 in the previous year, representing a decrease of 12.5%[8]. - The proposed interim dividend for the six months ended September 30, 2019, is HKD 0.75 per share, compared to HKD 1.00 per share in the same period of 2018[47]. - The total issued and paid-up share capital as of September 30, 2019, was 9,662,706 thousand shares, amounting to HKD 966,270 thousand[83]. - The company has a stock option plan that allows for the issuance of up to 671,021,393 shares, representing 10% of the issued shares as of August 20, 2015[143]. - As of September 30, 2019, Mr. Hong Han-man held 2,898,049,874 shares, representing 29.99% of the company's issued share capital[135]. Risk Management - The company maintains a rigorous risk management policy, focusing on capital risk management to optimize debt and equity balance for maximum shareholder returns[86]. - The company faces cash flow interest rate risk due to accounts receivable, loans, and bank borrowings, with no current interest rate hedging policy in place[87]. - Credit risk is managed by setting limits on exposure to borrowers and monitoring their repayment capabilities regularly[91]. - The company faces liquidity risk due to timing differences in settlements with clearing houses and clients, which is managed through close collaboration between treasury and settlement departments[94]. - The company does not face significant currency risk as most transactions are conducted in HKD, with a potential 5% fluctuation in the HKD to GBP exchange rate deemed not materially impactful[90]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules, with some deviations noted regarding the appointment of non-executive directors[151]. - The audit committee reviewed the unaudited condensed consolidated interim financial statements for the six months ended September 30, 2019[152]. - All directors confirmed compliance with the required standards of the securities trading code throughout the review period[154]. - The company continues to maintain a balanced power structure within the board, ensuring effective governance despite some deviations from the corporate governance code[151]. - The company has not been informed of any other relevant interests or short positions in its issued share capital as of September 30, 2019[149].

Financial Performance - For the year ended March 31, 2019, the Group's revenue was approximately HK$561.9 million, a decrease of 3.9% compared to HK$584.8 million in the previous year[7] - Profit attributable to owners of the Company was approximately HK$195.1 million, down from HK$297.1 million in 2018, primarily due to decreased revenue and increased finance costs[7] - Basic earnings per share for the year were HK2.02 cents, compared to HK3.34 cents in 2018, reflecting the decrease in profit[7] - The Group recorded imputed interest expenses of HK$96.7 million from convertible bonds issued by Get Nice Financial Group Limited, an increase from HK$57.7 million in the previous year[7] - Loss on redemptions of convertible bonds amounted to HK$38.9 million during the year, with total principal amounts of HK$262.5 million[7] - Impairment losses on loans to securities margin clients and loans and advances were HK$20.1 million and HK$16.5 million, respectively, compared to nil in the previous year[7] - The decrease in revenue was mainly attributed to a reduction in brokerage commission due to lower turnover during the year[7] - Interest income from margin financing, money lending, debt securities, and property rental income recorded an increase compared to the last financial year[7] - The Group's financial performance was impacted by the loss on redemptions and recognition of impairment losses during the current year[7] - The slight decrease in revenue was offset by increases in interest income from various business segments[7] Market Conditions - The Hang Seng Index closed at 29,051 points at the end of March 2019, down from 30,093 points at the end of March 2018, reflecting a decline in market performance[10] - The average daily turnover on the Main Board and GEM during the year ended 31 March 2019 was approximately HK$96.4 billion, a decrease of 9.2% compared to approximately HK$106.2 billion for the previous year[10] - The Hong Kong stock market experienced a decline in monthly turnover trends during the current year, reflecting global economic and political issues[10] - Concerns over decelerating economic activity in China contributed to increased market pessimism and a decline in credit to the real economy[10] Business Segments Performance - The broking business reported a profit of approximately HK$15.2 million for the year ended 31 March 2019, a decrease of 76.6% from HK$64.9 million in 2018[12] - Revenue from broking decreased by 41.8% to approximately HK$56.6 million in 2019, down from HK$97.2 million in 2018[12] - The underwriting, placing, and proof of funds business contributed approximately HK$12.7 million in 2019, compared to HK$26.1 million in 2018, due to a decrease in the number of deals[12] - Money lending business recorded profit before tax of HK$85.6 million for the year ended 31 March 2019, compared to HK$99.3 million in 2018[15] - The investments division reported a profit of HK$59.2 million for the year, up from HK$29.8 million in 2018[17] Investment and Property - The Group's portfolio of investment properties had a total fair value of HK$881.9 million as at 31 March 2019, an increase from HK$788.1 million in 2018[17] - The investment portfolio's total fair value decreased to HK$815.1 million as at 31 March 2019, down from HK$894.3 million in 2018[17] - The Group acquired two investment properties in Hong Kong for a total consideration of HK$40 million during the year[17] - Rental income increased to HK$12.6 million in 2019, compared to HK$8 million in 2018[17] Corporate Governance - The Company has complied with the Corporate Governance Code provisions throughout the year ended 31 March 2019, except for a deviation from Code Provision A.4.1 regarding the appointment term of independent non-executive Directors[47] - The independent non-executive Directors are subject to retirement by rotation and re-election at least once every three years, rather than being appointed for a specific term[47] - The roles of the chairman and CEO are performed by the same individual, which is a non-compliance with Code Provision A.2.1, but the Board believes this structure does not impair the balance of power[51] - The Company is committed to good corporate governance practices to maintain and promote investor confidence[47] - The Board has established a Nomination Committee, Remuneration Committee, and Audit Committee with defined terms of reference[82] Risk Management - The Board established a risk management policy and risk appetite statement, defining the types of risks the Group is prepared to pursue, retain, or tolerate[110] - A risk register was maintained to document risks and actions for ongoing management, ensuring effective communication to the Board and senior management[110] - Senior management is responsible for maintaining and reviewing the effectiveness of the Group's risk control to minimize operational risks[110] Environmental, Social, and Governance (ESG) - The Group's commitment to environmental issues is reflected in its acknowledgment of being part of the 'global village' and its efforts to utilize resources more efficiently[141] - The Group's ESG report is prepared in accordance with the "Comply or Explain" provisions, focusing on key performance indicators and material issues[141] - The Group emphasizes the importance of sustainable development as a key element of its vision and aims to reduce its environmental impact[141] - The Group has implemented measures to promote stakeholder relations and communications, including issuing annual and interim reports and arranging stakeholder meetings[139] Employee Welfare and Diversity - The Group had 78 full-time employees at the end of the Reporting Period, indicating a commitment to hiring talent with financial experience from various countries[178] - Employee gender distribution shows 42% male and 58% female, reflecting a diverse workforce[180] - The Group emphasizes equal employment opportunities regardless of gender, race, or disability, ensuring fair treatment in recruitment and promotion[183] - The Group encourages female participation in top management and managerial roles, promoting diversity in leadership[185] Future Outlook - The Group remains cautiously optimistic about future business development despite a competitive environment, with opportunities expected from the Greater Bay Area and China's Belt & Road initiative[24] - Management plans to continue seeking quality investment properties in Asia and Europe, as well as securities with good potential to enhance the investment portfolio[23]