Financial Performance - For the fiscal year ending December 31, 2024, total revenue was HKD 75,708,000, a decrease of 16% from HKD 90,160,000 in 2023[2] - The company reported a net loss of HKD 83,163,000 for the year, an improvement from a loss of HKD 133,851,000 in the previous year, indicating a reduction in losses by approximately 38%[4] - The basic and diluted loss per share improved to HKD 0.49 from HKD 0.80, showing a 38.75% reduction in loss per share[3] - The group reported a total loss of HKD 83,163,000 for the year, with a significant loss from the share of an associate amounting to HKD 24,545,000[15] - The group reported a total loss of HKD 133,851,000 for the year, with significant losses from brokerage and commission activities[16] - The company recorded a pre-tax loss of HKD 46,215,000 in 2024, a significant decrease from HKD 93,820,000 in 2023[26] - The net loss attributable to the company's owners after tax for the current year was approximately HKD 83,200,000, compared to HKD 133,900,000 in the previous year[51] Revenue Breakdown - For the year ending December 31, 2024, total revenue was HKD 75,708,000, with financial investments and services contributing HKD 38,842,000, brokerage and commission contributing HKD 36,107,000, and other enterprises contributing HKD 759,000[15] - Revenue from external customers in Hong Kong decreased to HKD 74,949,000 in 2024 from HKD 78,170,000 in 2023, a decline of approximately 4.0%[20] - Revenue from external customers in China significantly dropped to HKD 759,000 in 2024 from HKD 11,990,000 in 2023, representing a decline of approximately 93.7%[20] - Revenue from debt capital market services was approximately HKD 5,500,000 for the current year, compared to HKD 39,500,000 for the previous year, reflecting a challenging operating environment in the US dollar bond market in China[51] Expenses and Liabilities - Administrative expenses decreased to HKD 59,296,000 from HKD 165,781,000, reflecting a reduction of 64%[3] - Current liabilities increased to HKD 291,796,000 from HKD 262,812,000, marking an increase of 11%[6] - The total loans receivable increased from HKD 438,619 thousand in 2023 to HKD 520,970 thousand in 2024, a growth of 18.7%[34] - The expected credit loss provision for loans receivable is approximately HKD 20,600,000, significantly higher than HKD 100,000 as of December 31, 2023[78] Assets and Investments - The company’s total assets decreased to HKD 1,027,697,000 from HKD 1,040,024,000, a decline of about 1.2%[5] - The net asset value decreased to HKD 733,127,000 from HKD 776,684,000, a decline of approximately 5.6%[6] - Non-current assets in Hong Kong increased to HKD 577,796,000 in 2024 from HKD 211,293,000 in 2023, a significant increase[20] - The fair value of equity investments through other comprehensive income rose from HKD 2,638 thousand in 2023 to HKD 4,185 thousand in 2024, representing a 58.7% increase[32] Customer Concentration - The company's five largest customers accounted for approximately 28.44% of total revenue in 2024, up from 23.25% in 2023[21] - The largest customer accounted for approximately 6.45% of total revenue, while the top five customers represented 28.44%, indicating a slight increase in customer concentration risk[81] Strategic Initiatives - The group plans to focus on expanding its business in artificial intelligence (AI) and related fields, seeking investment opportunities in leading global AI companies[79] - The group has entered into a conditional agreement to acquire 100% of the equity of Target Company 1 for a total consideration of HKD 60,000,000, which is expected to be completed by March 31, 2025[85] - The group has also agreed to purchase 51% of the equity of Yao Cai Investment Limited for HKD 60,000,000, further expanding its investment portfolio[86] Credit and Risk Management - The company has established a credit committee to oversee lending policies and procedures, ensuring compliance with credit assessments[66] - The company maintains a prudent credit policy and risk management approach to achieve sound financial management and sustainable business development[78] - The credit review process for significant loan transactions (5% or more of total assets) is conducted according to standard business practices[69] Economic Context - The Hong Kong economy grew by 2.5% in 2024, recovering from a contraction of 3.2% in 2023, although private consumption continued to decline[52] - The group anticipates a decrease in the issuance volume of offshore bonds in China due to high USD financing costs and a sluggish real estate market[79]

Financial Performance - Revenue for the six months ended June 30, 2024, was HK$26,061,000, a decrease of 68.1% compared to HK$81,577,000 for the same period in 2023[3]. - Gross profit for the period was HK$18,208,000, down 72.2% from HK$65,536,000 in the previous year[3]. - Loss for the period was HK$13,958,000, compared to a loss of HK$30,511,000 for the same period in 2023, representing a 54.3% improvement[3]. - Basic and diluted loss per share attributable to owners of the company was HK(0.08) cent, compared to HK(0.18) cent in the previous year[3]. - Total comprehensive loss for the period was HK$14,760,000, a decrease from HK$33,570,000 in the same period last year[5]. - The company reported a loss before income tax improved to HK$13,958,000 from HK$31,036,000 in the previous year, marking a 55.0% reduction[3]. - The Group recorded a net other comprehensive loss of approximately HK$0.8 million, an improvement from HK$3.1 million in the same period last year[135]. Assets and Liabilities - Total non-current assets increased significantly to HK$527,280,000 as of June 30, 2024, compared to HK$229,577,000 at December 31, 2023, representing a growth of 129.5%[6]. - Total current assets decreased to HK$569,765,000 from HK$810,447,000, a decline of 29.6%[6]. - The Group's total liabilities were HK$321,490,000, with segment liabilities of HK$70,000 in financial investments and services, HK$141,551,000 in brokerage and commission, and HK$8,718,000 in corporate and others[23]. - The Group's gearing ratio as of June 30, 2024, was approximately 22.1%, slightly up from 21.7% as of December 31, 2023, with total borrowings of approximately HK$171.1 million[142][143]. Cash Flow and Financing - The net cash flows used in operating activities for the six months ended June 30, 2023 were HK$5,272,000, a significant decrease from HK$76,199,000 in the same period last year[12]. - The company reported a net cash outflow from investing activities of HK$2,144,000 for the six months ended June 30, 2023, compared to HK$93,075,000 in the previous year[12]. - Cash and cash equivalents at the end of the period were HK$7,976,000, down from HK$27,352,000 at the end of the previous year[12]. - The Group had bank overdrafts of approximately HK$11.4 million and interest-bearing bank borrowings of approximately HK$10 million as of June 30, 2024[136]. Segment Performance - For the six months ended June 30, 2024, the Group's total revenue was HK$26,061,000, with segment revenues of HK$15,932,000 from financial investments and services, HK$9,406,000 from brokerage and commission, and HK$723,000 from corporate and others[23]. - Segment results for financial investments and services showed a profit of HK$18,514,000, while brokerage and commission and corporate and others reported losses of HK$9,141,000 and HK$18,053,000 respectively[23]. - The brokerage and commission segment's revenue decreased from HK$44,571,000 in the six months ended June 30, 2023, to HK$9,406,000 in the same period of 2024, indicating a significant decline[25]. Share Capital and Equity - Share capital increased to HK$172,340,000 from HK$167,573,000, representing a growth of 2.3%[7]. - Total equity attributable to equity shareholders decreased to HK$775,527,000 from HK$776,656,000, a decline of 0.2%[7]. - The total issued and fully paid share capital increased to HK$172,340,000 as of June 30, 2024, from HK$167,573,000 at the end of 2023, reflecting an increase of 2%[65]. Loan and Credit Management - Loan receivables from the money lending business surged to HK$345,391,000, up from HK$30,608,000, marking an increase of 1,128.5%[6]. - The Group's five largest loan receivables accounted for approximately HK$330.9 million or 73.2% of total loan receivables, compared to 75.7% in the previous period[127]. - The Group's management continues to monitor and approve the granting of loans, ensuring strategic alignment with its business objectives[44]. Market Conditions and Strategic Focus - The external environment remains challenging, impacting the Group's DCM services and overall economic growth prospects[129]. - The Group plans to actively seek opportunities in new energy vehicles and artificial intelligence technology to expand its business scope[129]. - The company aims to maintain a prudent credit policy and risk management approach to achieve a sustainable business environment[96]. Corporate Governance and Compliance - The Audit Committee has reviewed the Company's unaudited interim condensed consolidated financial statements for the Period[174]. - The Company confirmed compliance with the Model Code for securities transactions by directors during the Period[177]. - The Company has complied with the Corporate Governance Code throughout the Period[171].

Revenue Performance - For the six months ended June 30, 2024, total revenue was HKD 26,061,000, a decrease of 68.1% compared to HKD 81,577,000 for the same period in 2023[1] - Total revenue for the six months ended June 30, 2024, was HKD 26,061,000, compared to HKD 81,703,000 for the same period in 2023, representing a decrease of approximately 68.1%[11] - Revenue for the six months ended June 30, 2024, was HKD 26,061,000, a decrease from HKD 81,577,000 for the same period in 2023, representing a decline of approximately 68.1%[13] - The revenue from debt capital market services was approximately HKD 5,400,000, down from HKD 36,900,000 in the previous year, reflecting a challenging operating environment in the USD bond market in China[43] - The company recorded revenue of approximately HKD 26,100,000 for the six months ended June 30, 2024, a significant decrease of 68.1% compared to HKD 81,600,000 for the same period in 2023[43] Profit and Loss - The company reported a net loss of HKD 13,958,000 for the period, compared to a net loss of HKD 30,511,000 in the previous year, representing a 54.3% improvement[2] - The company reported a loss before tax of HKD 13,958,000 for the six months ended June 30, 2024, compared to a loss of HKD 31,036,000 for the same period in 2023[11][12] - The company reported a pre-tax loss of approximately HKD 13,900,000 for the current period, compared to a pre-tax loss of approximately HKD 31,000,000 for the same period last year[43] - The basic and diluted loss per share for the period was HKD 0.08, an improvement from HKD 0.18 in the same period last year[2] - Basic loss per share for the period was HKD 0.826, based on a weighted average of 16,903,112,755 shares, compared to HKD 1.794 for the same period in 2023[18][19] Expenses and Costs - Brokerage and commission income dropped to HKD 9,406,000, down 78.9% from HKD 44,571,000 year-on-year[1] - Gross profit for the period was HKD 18,208,000, a decline of 72.2% from HKD 65,536,000 in the prior year[1] - Administrative expenses decreased significantly to HKD 33,523,000, down 63.0% from HKD 90,698,000 year-on-year[2] - Other income and gains netted HKD 1,926,000, a decrease of 33.1% compared to HKD 2,878,000 in the previous period[2] - Interest expenses decreased to HKD 4,257,000 for the six months ended June 30, 2024, down from HKD 9,661,000 in the same period of 2023, representing a reduction of approximately 56.0%[15] Assets and Liabilities - The company's total assets as of June 30, 2024, were HKD 776,083,000, slightly down from HKD 777,212,000 at the end of 2023[4] - The total assets as of June 30, 2024, amounted to HKD 1,097,045,000, a decrease from HKD 1,432,571,000 as of June 30, 2023[12] - Current liabilities increased to HKD 320,962,000 from HKD 262,812,000, indicating a rise of 22.1%[4] - The total liabilities as of June 30, 2024, were HKD 321,490,000, compared to HKD 354,852,000 as of June 30, 2023, indicating a reduction of approximately 9.4%[12] - The company's equity attributable to shareholders was HKD 775,527,000, a slight decrease from HKD 776,656,000 at the end of the previous year[6] Lending and Investment Activities - Interest income from lending activities increased to HKD 14,034,000, compared to HKD 13,534,000 in the previous year, reflecting a growth of 3.7%[13] - Total receivables from lending activities amounted to HKD 452,023,000 as of June 30, 2024, an increase from HKD 438,619,000 as of December 31, 2023[21] - The five largest loans accounted for approximately HKD 330,900,000, representing 73.2% of total loans receivable[65] - The company has established a credit committee to oversee lending policies and procedures, ensuring compliance with credit assessments[55] - The lending business is primarily conducted through a wholly-owned subsidiary, which provides both secured and unsecured loans to clients[51] Market and Economic Conditions - The Hong Kong economy showed slight growth in the first half of 2024, driven by inbound tourism and private consumption, despite challenges from geopolitical tensions and high interest rates[44] - The company anticipates a significant decline in the issuance of offshore bonds in China, particularly in the pressured real estate sector[67] - The company believes that the Chinese bond market, being the second largest in the world, presents significant opportunities for returns and expects continued market growth[47] Corporate Governance and Compliance - The company has adopted a code of conduct regarding securities trading by its directors, ensuring compliance with the relevant regulations[79] - The audit committee has reviewed the company's interim financial statements and discussed financial reporting matters[78] - The company continues to maintain its accounting policies consistent with those used in the audited financial statements for the year ended December 31, 2023[8]

Financial Performance - The Group recorded a revenue of approximately HK$90.2 million for the year ended December 31, 2023, a decrease of 67.5% compared to HK$277.8 million for the year ended December 31, 2022[12]. - The net loss before income tax for the year was approximately HK$133.8 million, compared to a net loss of approximately HK$103.3 million for the previous year, indicating a worsening financial performance[12]. - The net loss after income tax for the year was approximately HK$133.9 million, compared to HK$106.1 million for the year ended December 31, 2022, reflecting a significant increase in losses[13]. - Basic loss per share attributable to owners of the Company for the year was approximately HK0.80 cents, compared to a basic loss of approximately HK0.67 cents for the previous year[13]. - The Group's other comprehensive loss for the year was approximately HK$221.7 million, primarily due to a decrease in fair value of equity investments[111][113]. - The Group reported a loss before income tax of HK$133,756,000 for 2023, compared to a loss of HK$103,318,000 in the previous year[150]. - The Group's net assets as of December 31, 2023, were HK$776,684,000, down from HK$1,105,074,000 in 2022, indicating a decrease of 29.8%[152]. - The Group does not recommend the payment of any dividend for the year ended December 31, 2023[139]. Economic Environment - The Hong Kong economy showed a real GDP growth of 3.2% for the year, recovering from a contraction of 3.7% in 2022, driven by inbound tourism and private consumption[14]. - The unemployment rate in Hong Kong remained at 2.9% in the fourth quarter of 2023, indicating gradual improvement in the labor market despite external challenges[15]. - Total exports of goods decreased by 7.8% and imports decreased by 5.7% over 2022, impacted by a weaker global economy[16]. - The Hang Seng Index dropped from 19,570 points to 17,047 points during the year, reflecting deteriorating investor sentiment amid high interest rates and geopolitical tensions[20]. Debt and Lending Operations - The Group recorded unrealized losses on equity, fund, and debt investments at fair value through profit or loss of approximately HK$5.4 million[43]. - The Group will continue to strengthen its services and broaden its service range to provide one-stop service to customers[28]. - As of December 31, 2023, the Group had 14 outstanding loans to individual customers totaling approximately HK$421,611,400 with interest rates ranging from 5% to 7% and 5 outstanding loans to corporate customers totaling approximately HK$75,700,000 at an interest rate of 7%[47]. - The total principal amount of outstanding loans is approximately HK$497,311,400, reflecting the Group's active lending portfolio[52]. - The interest income from the money lending business for the year was approximately HK$27.4 million[97][110]. - The Group recognized expected credit loss allowances (ECLs) on loan receivables of approximately HK$0.1 million, a significant decrease from HK$13.2 million in the previous year[98][102]. Assets and Liabilities - The total assets of the Group as of December 31, 2023, were HK$1,040,024,000, down from HK$2,053,900,000 in 2022, representing a decline of 49.5%[152]. - Total liabilities decreased to HK$263,340,000 in 2023 from HK$948,826,000 in 2022, a reduction of 72.2%[152]. - The Group's cash and bank balances decreased to approximately HK$22.6 million from HK$62.4 million in the previous year[116]. - The Group's gearing ratio was approximately 21.7% as of December 31, 2023, slightly up from 20.5% in the previous year[119]. Share Options and Corporate Governance - The company terminated the 2013 Share Option Scheme on June 8, 2023, and no further options will be granted under this scheme[189]. - A new share option scheme, the 2023 Share Option Scheme, was adopted on June 8, 2023, to provide incentives to eligible participants[190]. - The total number of share options outstanding as of December 31, 2023, is 1,996,930,000, after accounting for options granted, exercised, and lapsed during the year[196]. - The company has received annual independence confirmation from its independent non-executive directors, who are still considered independent as of the report date[176]. - There were no significant transactions or contracts involving directors or their connected entities during the year[180]. Future Outlook and Strategic Initiatives - The Group plans to explore opportunities in new energy vehicles and artificial intelligence technology sectors due to increasing environmental awareness[108][112]. - The Group's performance analysis and future developments are discussed in the "Chairman's Statement and Management Discussion and Analysis" section of the annual report[138].

Financial Performance - For the fiscal year ending December 31, 2023, the total revenue was HKD 90,160,000, a decrease of 67.5% compared to HKD 277,840,000 in 2022[2] - The company reported a gross profit of HKD 72,880,000, down 54.7% from HKD 160,799,000 in the previous year[3] - The net loss for the year was HKD 133,851,000, compared to a net loss of HKD 106,056,000 in 2022, representing a 26.2% increase in losses[4] - The basic and diluted loss per share was HKD 0.80, compared to HKD 0.67 in the previous year[4] - The company reported a total loss of HKD 133,851,000 for the fiscal year, with a pre-tax loss of HKD 133,756,000[21] - The pre-tax loss for the year was approximately HKD 133.8 million, compared to a pre-tax loss of HKD 103.3 million in the previous year, primarily due to a substantial decrease in revenue from debt capital market services[74] - The company recorded a net loss of approximately HKD 2,967,000 from the step acquisition, including inventory impairment losses of about HKD 2,962,000[67] Revenue Breakdown - For the fiscal year ending December 31, 2023, total revenue was HKD 90,160,000, with contributions from financial investments and services at HKD 24,086,000, brokerage and commission at HKD 54,037,000, and corporate and other at HKD 12,037,000[21] - For the fiscal year ending December 31, 2022, total revenue was HKD 277,840,000, with financial investments and services contributing HKD 81,413,000, brokerage and commission at HKD 187,005,000, and corporate and other at HKD 9,422,000[22] - The company participated in 31 debt issuances during the year, with a total issuance size of approximately USD 2.2843 billion, and earned placement commission income of approximately HKD 39.5 million from debt capital market services[79] Assets and Liabilities - The company's total assets decreased to HKD 1,586,024,000 from HKD 2,053,900,000, a decline of 22.7%[6] - Current assets were reported at HKD 810,447,000, down 42.6% from HKD 1,416,334,000 in the previous year[6] - The total liabilities decreased to HKD 809,340,000 from HKD 1,048,845,000, a reduction of 22.8%[7] - The company's equity decreased to HKD 776,684,000 from HKD 1,105,074,000, a decline of 29.8%[7] - Total assets as of December 31, 2023, amounted to HKD 1,040,024,000, while total liabilities were HKD 263,340,000[21] - The overdue loan balance increased to HKD 267,485,000 in 2023 from HKD 45,278,000 in 2022, while the non-overdue balance was HKD 171,134,000[49] Expenses and Cost Management - Administrative expenses decreased to HKD 165,781,000 from HKD 176,868,000, a reduction of 6.2%[3] - Interest income from lending activities was HKD 27,403 thousand in 2023, down from HKD 31,908 thousand in 2022, a decrease of approximately 14.0%[31] - Total financial expenses decreased to HKD 13,495 thousand in 2023 from HKD 25,838 thousand in 2022, a reduction of about 47.8%[33] - The company’s management fee income decreased to HKD 14,119 thousand in 2023 from HKD 33,894 thousand in 2022, a decline of approximately 58.4%[31] Shareholder Information - The company did not declare any dividends for the fiscal year[3] - The company did not recommend any final dividend for the year, consistent with the previous year[37] - The weighted average number of ordinary shares issued for basic and diluted loss per share was 16,604,689 for the year ended December 31, 2023, compared to 15,980,612 for the previous year[41] - The company’s total issued shares increased to 16,757,250,461 in 2023 from 16,293,850,461 in 2022, an increase of approximately 2.8%[65] Market and Economic Conditions - The Hong Kong economy showed signs of recovery with a GDP growth of 3.2% year-on-year, reversing a contraction of 3.7% in 2022[75] - The Hang Seng Index decreased from 19,570 points at the beginning of the year to 17,047 points at the end of the year, reflecting a significant drop in investor sentiment[76] - The outlook for the global economic recovery remains uncertain due to anticipated U.S. interest rate hikes and geopolitical tensions[108] Strategic Initiatives - The company plans to continue enhancing its services and expanding its service range in the debt capital market sector[79] - The company aims to maintain a prudent credit policy and risk management approach to achieve sustainable business development[78] - The company plans to expand into the rapidly growing sectors of new energy vehicles and artificial intelligence technology[108] Compliance and Governance - The independent auditor, Dahuama Shiyun, confirmed that the preliminary announcement figures align with the audited consolidated financial statements for the year[123] - The board of directors includes key executives such as Chairman Chen Xiaodong and CEO Li Jing, indicating strong leadership[125] - The announcement date is March 27, 2023, reflecting the company's commitment to timely financial reporting[124]

Financial Performance - For the six months ended 30 June 2023, total revenue decreased to HK$81,577,000 from HK$189,788,000 for the same period in 2022, representing a decline of approximately 57%[10] - Brokerage and commission income fell significantly to HK$44,571,000, down 70% from HK$148,648,000 in the previous year[10] - Loss for the period was HK$30,511,000, an improvement compared to a loss of HK$57,286,000 in the same period last year, indicating a reduction in losses by approximately 47%[11] - Gross profit decreased to HK$65,536,000, down from HK$96,051,000, reflecting a decline of about 32%[10] - Total comprehensive loss for the period was HK$33,570,000, compared to HK$43,404,000 in the same period last year, showing an improvement of about 23%[11] - The loss per share attributable to owners of the Company was HK(0.18) cent, compared to HK(0.36) cent in the previous year[10] - The Group reported a loss before tax of HK$29,496,000 for the six months ended June 30, 2023, compared to a loss of HK$57,286,000 for the same period in 2022[59] - The net loss after tax for the Period was approximately HK$30.5 million, compared to a net loss after tax of approximately HK$57.3 million for the same period in 2022[135] Revenue Breakdown - The financial investments and services segment generated revenue of HK$14,039,000, while the brokerage and commission segment contributed HK$44,571,000, and corporate and others segment brought in HK$22,967,000[41] - Commission income from placing decreased significantly to HK$36,866,000, down 71.3% from HK$128,471,000 in the previous year[47] - Management fee income dropped to HK$11,031,000, a decline of 53.3% from HK$23,641,000 in the prior year[47] - Interest income from money lending business decreased to HK$13,534,000, down 17.0% from HK$16,370,000 in the previous year[53] - Commission income from Debt Capital Market (DCM) services was approximately HK$36.9 million during the Period[134] Assets and Liabilities - As of June 30, 2023, total non-current assets amounted to HK$638,608,000, a slight increase from HK$637,566,000 as of December 31, 2022[14] - Current assets decreased significantly to HK$793,963,000 from HK$1,416,334,000, representing a decline of approximately 44%[14] - Total current liabilities decreased to HK$353,640,000 from HK$945,171,000, a reduction of approximately 63%[16] - Equity attributable to owners of the company was HK$1,077,719,000, a decrease from HK$1,105,740,000 as of December 31, 2022[16] - Total assets as of June 30, 2023, amounted to HK$1,432,571,000, down from HK$1,833,132,000 as of June 30, 2022, reflecting a decrease of approximately 21.9%[41] Cash Flow and Investments - Total cash flows from operating activities for the six months ended June 30, 2023, were HK$76,199,000, compared to a cash outflow of HK$1,256,000 for the same period in 2022[30] - Net cash used in investing activities amounted to HK$93,075,000, significantly higher than HK$414,000 in the previous year, primarily due to acquisitions[30] - Cash and bank balances decreased to HK$44,375,000 from HK$62,388,000, a decline of approximately 29%[14] - The investment in an associate increased significantly to HK$170,531,000 from HK$87,006,000, representing a growth of about 96%[14] - The Group's money lending business had 14 outstanding loans to individual customers with an aggregate principal amount of approximately HK$421.6 million, with interest rates ranging from 5% to 7%[173][174] Segment Performance - Segment results showed that the financial investments and services segment had a profit of HK$12,528,000, while the brokerage and commission segment and corporate and others segment reported losses of HK$10,951,000 and HK$23,936,000 respectively[41] - The Group's share of profits from an associate was HK$2,886,000, while it incurred a loss of HK$562,000 from a joint venture[41] - The Group's bank interest income for the period was HK$53,000, while unallocated expenses were HK$1,024,000 and finance costs were HK$9,661,000[41] Market Conditions - The local stock market remains uncertain due to pessimistic investor sentiment amid economic recession and rising inflation expectations[141] - The China offshore US dollar bonds new issuance dropped significantly due to tightened policies and higher offshore financing costs[144] - The seasonally adjusted unemployment rate in Hong Kong decreased to 2.9% for April to June 2023, down from 3.0% in the previous period[137] Corporate Governance and Compliance - The Group adopted new and revised accounting standards, which had no material impact on the financial statements for the current period[38] - The Group has complied with relevant requirements regarding the grant and renewal of outstanding loans as per the Listing Rules[173][174] - The credit committee reviews due diligence results and finalizes loan amounts and terms on a case-by-case basis[197]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：139） 截至二零二三年六月三十日止六個月之 中期業績公告 中達集團控股有限公司（「本公司」）董事會（「董事會」）謹此公佈本公司及其附屬 公司（「本集團」）截至二零二三年六月三十日止六個月（「本期間」）之未經審核業 績連同截至二零二二年六月三十日止六個月之比較數字如下： 簡明綜合損益表 截至 截至 二零二三年 二零二二年 六月三十日止 六月三十日止 六個月 六個月 （未經審核） （未經審核） 附註 千港元 千港元 ...

Financial Performance - The Group recorded a revenue of approximately HK$277.8 million for the year ended December 31, 2022, an increase of 13.9% from HK$243.8 million in 2021[12]. - The net loss before tax for the year was approximately HK$102.7 million, significantly improved from a net loss of approximately HK$369.5 million in 2021[12]. - The net loss after income tax for the year was approximately HK$105.4 million, compared to a net loss of approximately HK$371.3 million in the previous year[13]. - Basic loss per share attributable to owners of the Company was approximately HK0.67 cents, an improvement from HK2.32 cents in 2021[13]. - The Group recorded unrealized losses on equity, fund, and debt investments of approximately HK$49.4 million, alongside realized gains of approximately HK$5.4 million[42]. - The Group's other comprehensive income for the year was approximately HK$60.8 million, down from HK$204.5 million the previous year, mainly due to a decrease in fair value of equity investments[118]. - The Group's net asset value as of December 31, 2022, was approximately HK$1,105.7 million, a slight decrease from HK$1,122.4 million in the previous year[118]. - The Group's liquidity position is closely monitored by the Board to ensure it meets funding requirements[131]. Revenue Sources - Commission income from Debt Capital Market (DCM) services contributed approximately HK$165.3 million to the revenue[12]. - The revenue primarily consisted of commission income from placing (approximately HK$165.3 million), interest income from money lending (approximately HK$31.9 million), and management fee income (approximately HK$34.6 million)[117]. - Commission income from securities and futures dealing was approximately HK$8.5 million, a decrease of 24.1% from HK$11.2 million in the previous year[27]. - Interest income from securities margin financing increased to approximately HK$13.1 million, up 3.1% from HK$12.7 million in the previous year[27]. - Interest income from debt investments amounted to approximately HK$6.3 million for the year[48]. - The interest income from the money lending business for the year was approximately HK$31.9 million[94]. Market Conditions - The local stock market, represented by the Hang Seng Index, dropped from 23,510 points to 19,781 points by the end of 2022, reflecting worsening investor sentiment[19]. - Hong Kong's economy contracted by 3.5% in 2022, with the unemployment rate at approximately 3.5% in the fourth quarter[15]. - The Guangdong and Hainan Provincial Governments issued a total of RMB12 billion in offshore bonds, marking the first issuance of blue bonds and sustainable development bonds by a Chinese local government in the international capital market[21]. - The Group believes the China's bond market will continue to grow and transform, becoming more capital market-oriented and open to foreign investors[32]. Business Operations - The Group's brokerage and margin financing business is conducted through its wholly-owned subsidiary Instant Achieve Limited, which owns 100% of Central Wealth Securities Investment Limited and Central Wealth Futures Limited[22]. - The Group aims to strengthen its services and broaden its service range to provide one-stop service to customers[30]. - The Group's money lending business is conducted through Top Billion Finance Limited, which provides secured and unsecured loans[43]. - The Group has diversified its business into livestreaming e-commerce, focusing on customized clothing and beauty brands for internet celebrities and artists[115]. - A strategic cooperation framework agreement was signed with Guangzhou Jiafan for the establishment of a joint venture company to develop beauty products, enhancing the Group's market position in the live streaming industry[108]. Loan Management - The Group had 14 outstanding loans to individual customers totaling approximately HK$421.6 million, with interest rates ranging from 5% to 7%[46]. - The total outstanding loans amount to approximately HK$492.1 million, with all borrowers being independent of the company and its connected persons[52]. - The credit committee, comprising two executive directors, oversees the credit policy and procedures for the money lending business[62]. - Loan applications constituting 5% or more of the total assets of the group undergo a detailed credit review process[65]. - Significant loan transactions representing 5% or more of total assets undergo a rigorous credit review process[69]. - All existing customers are either business contacts or referrals with good standings, minimizing default risks[72]. - Loan disbursement is conducted via crossed or personal cheques to prevent fraud and money laundering[80]. - Post-loan monitoring includes interim and annual reviews to assess borrowers' financial status[81]. - Early repayment of loans requires at least one business day's prior written notice from the customer[84]. - Overdue repayments are monitored, with actions taken if payments are more than 14 days late[90]. - The credit committee may initiate legal actions for loan recovery if necessary[87]. - Loan write-offs as bad loans require approval from the Board of the Company[88]. - The expected credit loss (ECL) on loan receivables was approximately HK$13.2 million, down from HK$22.9 million in 2021[95]. Acquisitions and Investments - The Group acquired 51% equity interests in Guangdong Youbeiqin Medical Technology Co., Ltd. on February 21, 2022, to diversify into the Chinese medicine clinic sector[96]. - The Group entered into a sale and purchase agreement to acquire 51% of Hangzhou Yiyou Culture Media Co., Ltd. for a total consideration of RMB145.6 million on December 19, 2022[102]. - A joint venture named Central Wealth Zhongqi Joint Venture Co., Ltd. was established, with the Group holding 60% ownership, to engage in celebrity branding and live streaming industry[106]. - The Group's investment in the livestreaming e-commerce business is part of its diversification strategy[101]. Financial Position - The total assets of the Group as of December 31, 2022, were HK$2,053,900,000, up from HK$1,828,312,000 in 2021, indicating a growth of about 12.3%[174]. - Total liabilities increased to HK$948,160,000 in 2022 from HK$705,903,000 in 2021, reflecting a rise of approximately 34.4%[174]. - The net assets of the Group decreased to HK$1,105,740,000 in 2022 from HK$1,122,409,000 in 2021, a decline of about 1.5%[174]. - The Group's current ratio improved to approximately 1.50 times as of December 31, 2022, compared to 1.32 times in the previous year[126]. - The Group's gearing ratio decreased to approximately 20.5% from 34.7% in the previous year, indicating a reduction in financial leverage[127]. - The Group maintained a portfolio of investments with a total carrying amount of approximately HK$457.3 million as of December 31, 2022[135]. Customer Concentration - The Group's largest customer accounted for approximately 8.13% of total revenue, while the five largest customers together accounted for approximately 28.35%[123]. - The Group's five largest customers accounted for approximately 28.35% of total revenue for the year[130]. Corporate Governance - The Company does not recommend the payment of any dividend for the year ended December 31, 2022[168]. - The Company had no reserves available for cash distribution as of December 31, 2022, but had a share premium account and capital reserve totaling approximately HK$4,772,894,000 that may be distributed as fully paid bonus shares[185]. - There were no significant events affecting the Group reported since the end of the financial year[161]. - No management contracts concerning the administration of the business were entered into or existed during the year[199]. - Directors' fees are subject to shareholders' approval at general meetings[200]. - A permitted indemnity provision for the benefit of the directors has been in force throughout the year[198].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：139） 截至二零二二年十二月三十一日止年度之 年度業績公告 中達集團控股有限公司（「本公司」）董事會（「董事會」）公佈，本公司及其附屬公 司（「本集團」）截至二零二二年十二月三十一日止年度（「本年度」）之年度業績， 連同上一期間之比較數字如下： 綜合損益表 截至二零二二年十二月三十一日止年度 二零二二年 二零二一年 附註 千港元 千港元 收入 財務投資及服務 46,779 43,251 ...

Loan Portfolio - As of December 31, 2021, the total outstanding loans for individual clients amounted to approximately HKD 445,611,400, with interest rates ranging from 5% to 7%[3] - The total outstanding loans for corporate clients reached approximately HKD 79,500,000, all at an interest rate of 7%[3] - The total principal amount of outstanding loans across all clients is approximately HKD 525,111,400[8] - The company has 17 individual clients and 4 corporate clients with outstanding loans, indicating a diversified client base[3] Risk Management - The company has established a credit committee to oversee lending policies and procedures, ensuring robust risk management[20] - The credit committee is responsible for reviewing significant loan transactions that account for 5% or more of the group's total assets[23] - The company conducts mid-term and annual reviews of borrowers' financial status to identify potential repayment issues[29] - Loan renewals are contingent upon the borrower's repayment history and current financial strength[30] - The company emphasizes that all existing clients are referred by executive directors, ensuring a network of reliable borrowers[25] - The company does not engage in cash disbursements for loans, minimizing fraud risks and avoiding involvement in money laundering activities[28] Loan Repayment Policies - The company allows customers to repay loans early with a written notice of at least one business day[31] - Accounting personnel monitor each loan for timely repayments, with reminders issued for delays exceeding two days[32] - The company reserves the right to demand repayment of loans and accrued interest with prior written notice[34] Financial Management - Financial expenses related to borrowing at interest rates between 9% to 12% amounted to approximately HKD 5,483,000 in 2021[35] - The company emphasizes a balanced approach in budget management across different business areas to ensure overall efficiency and cost-effectiveness[35] Corporate Governance - The board of directors remains unchanged as of the announcement date, with key members listed[37]