Company Information and Report Statement [Report Statement and Company Profile](index=1&type=section&id=Report%20Statement%20and%20Company%20Profile) This is the annual results announcement of Arta TechFin Corporation Limited for the year ended March 31, 2025, issued by Hong Kong Exchanges and Clearing Limited - This is the audited consolidated results announcement of **Arta TechFin Corporation Limited** (Stock Code: 279) for the year ended March 31, 2025[2](index=2&type=chunk)[3](index=3&type=chunk) Consolidated Financial Statements [Consolidated Statement of Profit or Loss](index=1&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss) For the year ended March 31, 2025, the company's revenue grew significantly, but a notable increase in operating expenses resulted in a narrowed loss for the year Key Data from Consolidated Statement of Profit or Loss (HK$'000) | Indicator | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | 63,846 | 23,329 | 173.6% Increase | | Other income and net gains | 6,262 | 4,513 | 38.7% Increase | | Total revenue and other income and gains | 70,108 | 27,842 | 151.8% Increase | | Operating expenses | (105,611) | (78,417) | 34.7% Increase | | EBITDA | (35,503) | (50,575) | 29.7% Loss Narrowed | | Operating loss | (41,521) | (55,025) | 24.6% Loss Narrowed | | Loss before tax | (47,485) | (62,941) | 24.6% Loss Narrowed | | Loss for the year | (47,485) | (62,921) | 24.5% Loss Narrowed | | Loss for the year attributable to shareholders | (51,826) | (63,838) | 18.8% Loss Narrowed | [Consolidated Statement of Comprehensive Income](index=3&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) For the year ended March 31, 2025, the company's total comprehensive loss narrowed compared to the previous year, mainly due to a smaller loss for the year and no significant other comprehensive loss Key Data from Consolidated Statement of Comprehensive Income (HK$'000) | Indicator | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Loss for the year | (47,485) | (62,921) | 24.5% Loss Narrowed | | Other comprehensive loss | – | (3,667) | 100% Loss Reduction | | Total comprehensive loss for the year | (47,485) | (66,588) | 28.7% Loss Narrowed | | Comprehensive loss attributable to shareholders | (51,826) | (67,505) | 23.2% Loss Narrowed | [Consolidated Statement of Financial Position](index=4&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, the company's total assets, net current assets, and net assets all decreased, while current liabilities increased substantially, causing a significant drop in the current ratio Key Data from Consolidated Statement of Financial Position (HK$'000) | Indicator | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Total non-current assets | 34,816 | 29,071 | 19.8% Increase | | Total current assets | 66,881 | 101,805 | 34.3% Decrease | | Total current liabilities | 66,199 | 13,641 | 385.3% Increase | | Net current assets | 682 | 88,164 | 99.2% Decrease | | Net assets | 29,444 | 76,829 | 61.7% Decrease | | Total equity | 29,444 | 76,829 | 61.7% Decrease | Notes to the Financial Statements [Basis of Preparation](index=6&type=section&id=Basis%20of%20Preparation) The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, Hong Kong GAAP, and the Companies Ordinance, primarily using the historical cost basis - The financial statements are presented in Hong Kong dollars, and all values are rounded to the nearest thousand[10](index=10&type=chunk) [Changes in Accounting Policies and Disclosures](index=6&type=section&id=Changes%20in%20Accounting%20Policies%20and%20Disclosures) The Group has applied certain amendments to HKFRS for the first time, but these had no material impact on the financial performance and position for the current or prior years - The Group has not applied any new standards or interpretations that are not yet effective for the current accounting period[11](index=11&type=chunk) [Operating Segment Information](index=6&type=section&id=Operating%20Segment%20Information) The Group is organized into five reportable operating segments: Global Markets, Asset Management, Insurance Brokerage, Investment, and Wealth Management and Advisory Services - The Chief Operating Decision-Maker (the Company's directors) is responsible for allocating resources and assessing the performance of the operating segments[14](index=14&type=chunk) - Segment results are evaluated based on adjusted profit/(loss) before tax, excluding certain income and expense items[14](index=14&type=chunk) [Segment Description](index=6&type=section&id=Segment%20Description) The Group's operating segments include Global Markets, Asset Management, Insurance Brokerage, Investment, and Wealth Management and Advisory Services - The Global Markets business covers securities and futures brokerage, margin financing, placing, underwriting, and M&A advisory services[13](index=13&type=chunk) - The Asset Management business provides investment advisory, external asset management, portfolio management, fund incubation, and trade execution[13](index=13&type=chunk) - The **Investment** business and the **Wealth Management and Advisory Services** business are newly established operating segments during the year[12](index=12&type=chunk)[13](index=13&type=chunk) [Segment Revenue and Results (2025)](index=7&type=section&id=Segment%20Revenue%20and%20Results%20(2025)) In fiscal year 2025, the Wealth Management & Advisory and Insurance Brokerage businesses contributed most of the external revenue, while two segments recorded losses FY2025 Segment Revenue and Results (HK$'000) | Segment | Revenue from External Customers | Segment Results | | :--- | :--- | :--- | | Global Markets | 3,328 | (8,639) | | Asset Management | 9,938 | 5,204 | | Insurance Brokerage | 18,777 | 661 | | Investment | 3,834 | 4,430 | | Wealth Management and Advisory Services | 27,969 | (1,619) | | **Total** | **63,846** | **37** | [Segment Revenue and Results (2024)](index=8&type=section&id=Segment%20Revenue%20and%20Results%20(2024)) In fiscal year 2024, the Asset Management and Global Markets businesses were the main sources of revenue, with Asset Management contributing the majority of segment results FY2024 Segment Revenue and Results (HK$'000) | Segment | Revenue from External Customers | Segment Results | | :--- | :--- | :--- | | Global Markets | 9,967 | (1,055) | | Asset Management | 12,265 | 6,137 | | Insurance Brokerage | 1,097 | 698 | | **Total** | **23,329** | **5,780** | [Geographical Information](index=9&type=section&id=Geographical%20Information) The Group's revenue from external customers and non-current assets (excluding financial instruments) are primarily located in Hong Kong - In 2025 and 2024, **all revenue from external customers** was derived from Hong Kong[19](index=19&type=chunk) - In 2025 and 2024, **all non-current assets** (excluding financial instruments) were located in Hong Kong[20](index=20&type=chunk) [Information about Major Customers](index=9&type=section&id=Information%20about%20Major%20Customers) In fiscal year 2025, Customers A, B, and C became major customers, while Customers D and E were the major customers in fiscal year 2024 Revenue from Major Customers (HK$'000) | Customer | 2025 | 2024 | | :--- | :--- | :--- | | Customer A | 15,038 | – | | Customer B | 8,338 | – | | Customer C | 8,044 | – | | Customer D | – | 10,140 | | Customer E | – | 3,450 | - In fiscal year 2025, revenue from Customer A was entirely from the Wealth Management and Advisory Services business, while revenue from Customers B and C was entirely from the Insurance Brokerage business[21](index=21&type=chunk) [Revenue, Other Income and Net Gains](index=10&type=section&id=Revenue%2C%20Other%20Income%20and%20Net%20Gains) In fiscal year 2025, total revenue increased significantly, driven by new business segments, while other income and net gains also rose Analysis of Revenue, Other Income and Net Gains (HK$'000) | Revenue Source | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Placing and underwriting income | 1,301 | 9,630 | 86.5% Decrease | | Commission and brokerage income from securities and futures dealing | 1,560 | 305 | 411.5% Increase | | Insurance brokerage income | 18,777 | 1,097 | 1611.7% Increase | | Asset management and advisory fee income | 10,403 | 12,265 | 15.2% Decrease | | Wealth management and advisory services income | 27,969 | – | N/A | | Interest income from investments | 3,834 | – | N/A | | **Total Revenue** | **63,846** | **23,329** | **173.7% Increase** | | Total other income and net gains | 6,262 | 4,513 | 38.7% Increase | - Other income primarily includes a waiver of information technology and maintenance expenses of **HK$4,352,000** from a service provider[23](index=23&type=chunk) [Components of Loss Before Tax](index=11&type=section&id=Components%20of%20Loss%20Before%20Tax) In fiscal year 2025, key expense items such as employee benefits, depreciation, and amortization changed, with a new impairment loss on intangible assets recorded Key Components of Loss Before Tax (HK$'000) | Item | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Employee benefit expenses | 26,498 | 30,052 | 11.8% Decrease | | Auditor's remuneration | 1,514 | 1,692 | 10.5% Decrease | | Depreciation – property, plant and equipment | 2,329 | 2,100 | 10.9% Increase | | Depreciation – right-of-use assets | 3,012 | 2,150 | 40.1% Increase | | Amortisation | 677 | 200 | 238.5% Increase | | Provision for impairment loss on loans receivable | – | 1,338 | 100% Decrease | | Net provision for impairment loss on trade receivables | 229 | 322 | 28.9% Decrease | | Impairment loss on intangible assets | 1,397 | – | N/A | [Finance Costs](index=11&type=section&id=Finance%20Costs) Total finance costs for fiscal year 2025 amounted to HK$5,964,000, a decrease from 2024, primarily consisting of interest on borrowings and lease liabilities Finance Costs (HK$'000) | Item | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Interest on borrowings | 5,244 | 7,758 | 32.4% Decrease | | Interest on lease liabilities | 720 | 158 | 355.7% Increase | | **Total** | **5,964** | **7,916** | **24.7% Decrease** | - Interest on borrowings includes imputed interest on convertible bonds of **HK$5,244,000** (2024: HK$4,206,000)[24](index=24&type=chunk) [Income Tax Credit](index=11&type=section&id=Income%20Tax%20Credit) The Group had no income tax credit in fiscal year 2025, compared to a credit of HK$20,000 in fiscal year 2024 Income Tax Credit (HK$'000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Overprovision in prior years – Hong Kong | – | 1 | | Deferred tax – reversal of temporary differences | – | 19 | | **Total income tax credit for the year** | **–** | **20** | [Loss Per Share Attributable to Shareholders](index=12&type=section&id=Loss%20Per%20Share%20Attributable%20to%20Shareholders) For the year ended March 31, 2025, both basic and diluted loss per share were HK$0.3 cents, remaining unchanged from the previous year despite a narrower loss attributable to shareholders - Loss for the year attributable to shareholders was **HK$51,826,000** (2024: HK$63,838,000)[26](index=26&type=chunk)[28](index=28&type=chunk) - The weighted average number of ordinary shares in issue was **19,842,667,311** (2024: 19,143,179,880)[26](index=26&type=chunk)[27](index=27&type=chunk) [Basic Loss Per Share](index=12&type=section&id=Basic%20Loss%20Per%20Share) The basic loss per share was calculated based on the loss attributable to shareholders and the weighted average number of ordinary shares, resulting in HK$0.3 cents for 2025 - The basic loss per share for 2025 was **HK$0.3 cents**[4](index=4&type=chunk) [Diluted Loss Per Share](index=12&type=section&id=Diluted%20Loss%20Per%20Share) The diluted loss per share was the same as the basic loss per share because the unexercised convertible instruments had an anti-dilutive effect - The diluted loss per share for 2025 was **HK$0.3 cents**[4](index=4&type=chunk) - Unexercised convertible instruments were not included in the calculation of diluted loss per share due to their **anti-dilutive effect**[28](index=28&type=chunk) [Dividend](index=12&type=section&id=Dividend) The Board does not recommend the payment of a dividend for the year ended March 31, 2025, consistent with the prior year - **No final dividend** will be paid for fiscal year 2025[29](index=29&type=chunk) [Loans Receivable](index=13&type=section&id=Loans%20Receivable) In fiscal year 2025, all loans receivable were settled with no impairment loss provision, whereas in 2024, there was a HK$5,000,000 loan receivable, of which HK$1,813,000 was written off Loans Receivable (HK$'000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Loans receivable | – | 5,000 | | Less: Provision for impairment loss | – | – | | **Total** | **–** | **5,000** | - The loans receivable as of March 31, 2024, were unsecured, bore interest at 9% per annum, and were **fully settled** during fiscal year 2025[30](index=30&type=chunk) - In fiscal year 2024, irrecoverable loans receivable of approximately **HK$1,813,000** were written off[31](index=31&type=chunk) [Trade Receivables](index=14&type=section&id=Trade%20Receivables) In fiscal year 2025, total trade receivables increased significantly, primarily from the Insurance Brokerage and Wealth Management segments, with a substantial rise in receivables aged over one year Composition of Trade Receivables (HK$'000) | Business Segment | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Global Markets | 117 | 334 | 65.0% Decrease | | Asset Management | 1,915 | 2,398 | 20.1% Decrease | | Insurance Brokerage | 2,767 | 571 | 384.6% Increase | | Wealth Management and Advisory Services | 852 | – | N/A | | **Total (before provision)** | **5,651** | **3,303** | **71.1% Increase** | Ageing Analysis of Trade Receivables (HK$'000) | Ageing | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Within 90 days | 4,033 | 3,094 | 30.3% Increase | | 91 to 180 days | 105 | 81 | 29.6% Increase | | 181 to 365 days | 200 | 30 | 566.7% Increase | | Over 1 year | 1,313 | 98 | 1240% Increase | | **Total** | **5,651** | **3,303** | **71.1% Increase** | - The provision for impairment loss on trade receivables increased to **HK$557,000** in fiscal year 2025 (2024: HK$328,000)[36](index=36&type=chunk) [Trade Payables](index=15&type=section&id=Trade%20Payables) As of March 31, 2025 and 2024, all trade payables were aged within 90 days - Trade payables increased significantly to **HK$11,057,000** in 2025 from HK$2,100,000 in 2024[8](index=8&type=chunk) [Other Payables and Accrued Charges](index=15&type=section&id=Other%20Payables%20and%20Accrued%20Charges) In fiscal year 2025, total other payables and accrued charges increased slightly and included a non-current portion of HK$750,000 that is unsecured and interest-free Other Payables and Accrued Charges (HK$'000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Other payables and accrued charges | 12,189 | 11,541 | | Current portion | 11,439 | 11,541 | | Non-current portion | 750 | – | - The non-current portion of **HK$750,000** is unsecured, interest-free, and repayable on April 1, 2026[38](index=38&type=chunk) [Borrowings](index=15&type=section&id=Borrowings) In fiscal year 2025, the carrying amount of the liability component of convertible bonds increased to HK$39,908,000, was reclassified as a current liability, and was fully settled after the reporting period Borrowings (Convertible Bonds) (HK$'000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | Current borrowings – convertible bonds | 39,908 | – | | Non-current borrowings – convertible bonds | – | 37,864 | | **Total** | **39,908** | **37,864** | - The convertible bonds have a principal amount of **HK$40,000,000**, bear interest at 8% per annum, have an effective interest rate of 13.29%, and mature on May 30, 2025[40](index=40&type=chunk) - As of March 31, 2025, the carrying amount of the liability component of the convertible bonds was **HK$39,908,000**, and the equity component was HK$3,942,000[41](index=41&type=chunk)[43](index=43&type=chunk) Management Discussion and Analysis [Liquidity, Financial Resources and Capital Structure](index=17&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) As of March 31, 2025, the Group's total assets, net current assets, and net assets decreased, while the gearing ratio rose significantly to 135.5% and the current ratio fell sharply to 1 Key Liquidity and Capital Structure Data (HK$'000) | Indicator | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Total assets | 102,000 | 131,000 | 22.2% Decrease | | Net current assets | 700 | 88,000 | 99.2% Decrease | | Net assets | 29,000 | 77,000 | 62.4% Decrease | | Cash and bank balances | 55,000 | 90,000 | 38.9% Decrease | | Current ratio | 1 | 7.46 | 86.6% Decrease | | Gearing ratio | 135.5% | 49.3% | 174.8% Increase | - Borrowing costs in fiscal year 2025 were approximately **HK$6,000,000**, a decrease of 24.7% from 2024[45](index=45&type=chunk) - The Group has limited foreign exchange risk due to the HKD-USD peg and holds no hedging financial instruments[45](index=45&type=chunk) [Financial Performance](index=17&type=section&id=Financial%20Performance) In fiscal year 2025, the Group's consolidated revenue grew by 174% and the consolidated net loss narrowed by 25%, driven by higher revenue and lower employee and IT expenses Key Financial Performance Data (HK$'000) | Indicator | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Consolidated turnover | 63,846 | 23,329 | 174% Increase | | Operating expenses | 105,611 | 78,417 | 35% Increase | | Consolidated net loss | 47,485 | 62,921 | 25% Decrease | - The growth in consolidated revenue was mainly driven by significant improvements in the **Insurance Brokerage, Investment, and Wealth Management and Advisory Services** businesses[46](index=46&type=chunk) - The increase in operating expenses was primarily due to collaboration with external consultants to expand the Insurance Brokerage and Wealth Management businesses[47](index=47&type=chunk) - The consolidated net loss attributable to shareholders decreased to approximately **HK$52,000,000** (2024: HK$64,000,000)[48](index=48&type=chunk) [Final Dividend](index=18&type=section&id=Final%20Dividend) The Board does not recommend the payment of a final dividend for the year ended March 31, 2025 - **No final dividend** will be paid for fiscal year 2025[49](index=49&type=chunk) Business Review [Overall Business Performance](index=18&type=section&id=Overall%20Business%20Performance) Despite macroeconomic instability and a sluggish Hong Kong stock market, the Group improved its overall operating performance through new business strategies and strict cost control - The addition of new talent, client development, and product expansion have enhanced confidence in the Group's prospects[50](index=50&type=chunk) [Segment Revenue Overview](index=19&type=section&id=Segment%20Revenue%20Overview) Total revenue for fiscal year 2025 grew by 174%, driven by significant growth in the Insurance Brokerage, Investment, and Wealth Management businesses Segment Revenue Overview (HK$'000) | Segment Revenue | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Global Markets | 3,328 | 9,967 | 67% Decrease | | Asset Management | 9,938 | 12,265 | 19% Decrease | | Insurance Brokerage | 18,777 | 1,097 | 1612% Increase | | Investment | 3,834 | – | N/A | | Wealth Management and Advisory Services | 27,969 | – | N/A | | **Total Revenue** | **63,846** | **23,329** | **174% Increase** | [Global Markets Business](index=19&type=section&id=Global%20Markets%20Business) In fiscal year 2025, revenue from the Global Markets business declined by 67% due to the sluggish Hong Kong stock market, but the Group continued to expand its regulated digital asset business - Revenue decreased to approximately **HK$3,300,000** (2024: approximately HK$10,000,000)[52](index=52&type=chunk) - Successfully developed a series of new cash-settled financial products linked to digital assets, including futures, options, and structured products[52](index=52&type=chunk) - Became the **exclusive distributor in Hong Kong** for digital asset structured products from Enhanced Digital Group UK Limited[52](index=52&type=chunk) [Asset Management Business](index=19&type=section&id=Asset%20Management%20Business) In fiscal year 2025, revenue from the Asset Management business decreased by 19% due to global macroeconomic instability, but the Group actively expanded its client base in Mainland China - Revenue decreased to approximately **HK$9,900,000** (2024: approximately HK$12,300,000)[53](index=53&type=chunk) - Hosted multiple client events and roadshows in Hong Kong to showcase investment solutions to potential high-net-worth clients[54](index=54&type=chunk) - Provides fund incubation services through strategic partnerships with renowned industry veterans and organisations[54](index=54&type=chunk) [Insurance Brokerage Business](index=20&type=section&id=Insurance%20Brokerage%20Business) In fiscal year 2025, revenue from the Insurance Brokerage business surged by 1612% to approximately HK$18,800,000 due to increased demand for insurance products - Revenue surged to approximately **HK$18,800,000** (2024: approximately HK$1,100,000)[55](index=55&type=chunk) - Insurance products provide clients with diversified asset allocation to mitigate risks[55](index=55&type=chunk) [Investment Business](index=20&type=section&id=Investment%20Business) In fiscal year 2025, the Group established an Investment business, which recorded revenue of approximately HK$3,800,000, primarily from interest income on a low-risk and high-liquidity portfolio - The Investment business is a **new segment** this year, with revenue of approximately **HK$3,800,000**[56](index=56&type=chunk) [Wealth Management and Advisory Services Business](index=20&type=section&id=Wealth%20Management%20and%20Advisory%20Services%20Business) In fiscal year 2025, the Group established a Wealth Management and Advisory Services business, which recorded revenue of approximately HK$28,000,000 by providing customized services - The Wealth Management and Advisory Services business is a **new segment** this year, with revenue of approximately **HK$28,000,000**[57](index=57&type=chunk) Other Important Matters [Significant Investments](index=20&type=section&id=Significant%20Investments) As of March 31, 2025, the Group did not have any significant investments accounting for more than 5% of its total assets - The Group had **no significant investments** at the end of the reporting period[58](index=58&type=chunk) [Events After the Reporting Period](index=20&type=section&id=Events%20After%20the%20Reporting%20Period) After the reporting period, the Company secured a perpetual shareholder loan facility of up to HK$40,800,000 from its direct holding company, and the convertible bonds were fully settled - Obtained an unsecured term loan facility of up to **HK$40,800,000** from its direct holding company at an annual interest rate of 6.5%[59](index=59&type=chunk) - The convertible bonds were **fully settled** after the reporting period[42](index=42&type=chunk) [Contingent Liabilities](index=21&type=section&id=Contingent%20Liabilities) As of March 31, 2025, the Group did not have any other significant contingent liabilities - The Group had **no significant contingent liabilities** at the end of the reporting period[61](index=61&type=chunk) [Capital Commitments](index=21&type=section&id=Capital%20Commitments) As of March 31, 2025, the Group did not have any significant capital commitments - The Group had **no significant capital commitments** at the end of the reporting period[62](index=62&type=chunk) [Material Acquisitions/Disposals](index=21&type=section&id=Material%20Acquisitions%2FDisposals) During fiscal year 2025, the Group had no material investments, acquisitions, or disposals of subsidiaries and associates - The Group had **no material investments, acquisitions, or disposals** in fiscal year 2025[63](index=63&type=chunk) [Employee Remuneration Policy and Retirement Benefit Scheme](index=21&type=section&id=Employee%20Remuneration%20Policy%20and%20Retirement%20Benefit%20Scheme) As of March 31, 2025, the Group's number of employees increased to 32, while employee costs decreased, and remuneration policies are reviewed regularly Employee Information (Number of persons/HK$'000) | Indicator | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | Number of employees | 32 | 25 | 28% Increase | | Employee costs | 32,000 | 39,000 | 17.9% Decrease | - The Company has adopted a share option scheme and established a Mandatory Provident Fund retirement benefits scheme for its employees[64](index=64&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=21&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) During the year, neither the Company nor any of its subsidiaries purchased, redeemed, or sold any of the Company's listed securities - The Company and its subsidiaries did not purchase, redeem, or sell any of the Company's listed securities during the year[65](index=65&type=chunk) Corporate Governance [Audit Committee](index=21&type=section&id=Audit%20Committee) The Audit Committee, comprising three independent non-executive Directors, has reviewed the Group's accounting principles, internal controls, and financial reporting matters - The Audit Committee consists of three independent non-executive Directors: **Ms Ling Kit Sum, Katherine, Professor Peng Qian, and Mr Zhang Guang**[66](index=66&type=chunk) - The auditor, **BDO Limited**, has agreed the figures in this preliminary announcement to the Group's audited consolidated financial statements[67](index=67&type=chunk) [Corporate Governance Practices](index=22&type=section&id=Corporate%20Governance%20Practices) The Company has adopted the Corporate Governance Code and complied with all code provisions during the reporting period, with one exception regarding the Chairman's attendance at the AGM - The Chairman, Dr Cheng, was unable to attend the AGM on September 23, 2024, due to other business commitments[68](index=68&type=chunk) - The CEO and Executive Director, Mr Hui Hao, chaired the AGM and answered questions along with other Board members[68](index=68&type=chunk) [Directors' Securities Transactions](index=22&type=section&id=Directors'%20Securities%20Transactions) The Company has adopted the Model Code for Securities Transactions by Directors and confirmed that all Directors have complied with this code during the reporting period - **All Directors complied** with the required standard of the Model Code for Securities Transactions by Directors during the reporting period[69](index=69&type=chunk) [Annual General Meeting](index=22&type=section&id=Annual%20General%20Meeting) The Company will publish and dispatch a notice of the Annual General Meeting to shareholders in due course - The notice of the Annual General Meeting will be published in due course[70](index=70&type=chunk) [Publication of Annual Report and Board Members](index=23&type=section&id=Publication%20of%20Annual%20Report%20and%20Board%20Members) This annual results announcement is published on the websites of the Stock Exchange and the Company, and the annual report will be dispatched to shareholders in due course - This announcement is published on the HKEX website (https://www.hkex.com.hk) and the Company's website (https://www.artatechfin.com)[71](index=71&type=chunk) - The Board of Directors includes Chairman Dr Cheng Chi-Kong, Adrian, CEO Mr Hui Hao, CFO Ms Li Chuchu, and Independent Non-executive Directors Ms Ling Kit Sum, Katherine, Mr Zhang Guang, and Professor Peng Qian[73](index=73&type=chunk)

Revenue Performance - Revenue from the insurance brokerage business surged by 1,200.0% to approximately HK$2.6 million from approximately HK$0.2 million during the corresponding period in 2023[2]. - Revenue for the six months ended September 30, 2024, increased to HK$20,377,000, representing a 227.6% increase compared to HK$6,221,000 in the same period of 2023[116]. - The total segment revenue from external customers for the insurance brokerage business was HK$2,583,000, while the wealth management and consultancy services generated HK$6,485,000[183]. - The asset management and consultancy services business saw substantial revenue growth, with increases of 2,307.5% and 976.3%, respectively[123]. - The company reported a significant increase in revenue and other income of approximately HK$13,000,000 due to improved performance in asset management and wealth management services[122]. Financial Position - As of 30 September 2024, the Group's total assets were approximately HK$119 million, with a minority investment in GFO-X representing approximately 0.21% of total assets[4]. - Total non-current liabilities decreased from HK$40,406,000 as of March 31, 2024, to HK$7,453,000 as of September 30, 2024[52]. - Net assets decreased from HK$76,829,000 as of March 31, 2024, to HK$57,532,000 as of September 30, 2024[52]. - Total current assets decreased from HK$101,805,000 as of March 31, 2024, to HK$81,858,000 as of September 30, 2024[63]. - The Group reported shareholders' funds of approximately HK$58 million as of 30 September 2024, down from HK$77 million as of 31 March 2024[167]. Loss and Expenses - The company reported a loss of HK$348,924,000 for the period ending September 30, 2024[56]. - The net loss for the period was approximately HK$19,397,000, a significant improvement from a net loss of HK$47,034,000 in the same period of 2023[122]. - The Group's loss before tax for the six months ended 30 September 2024 was HK$19,397,000, reflecting the financial challenges faced during this period[183]. - Employee benefit expenses decreased by approximately HK$8,608,000, from HK$22,343,000 in 2023 to HK$13,735,000 in 2024[116]. - Interest on borrowings decreased significantly to HK$2,595,000 for the six months ended 30 September 2024, compared to HK$4,803,000 in 2023, indicating a reduction of approximately 46.0%[191]. Strategic Initiatives - The company plans to cautiously allocate resources and execute stable operational strategies to improve business performance amid the ongoing market recovery in Hong Kong[7]. - The company is focusing on enhancing its financial position and reducing losses as part of its strategic initiatives for future growth[101]. - The company is focusing on diversifying product and service offerings and optimizing middle and back office operations to enhance long-term strategic development[126]. - The company aims to leverage its financial improvements to explore potential market expansions and new product developments in the future[101]. - The company plans to proactively review its performance and adapt to changing environments to achieve optimal risk-adjusted investment returns[126]. Corporate Governance and Compliance - The Company has complied with all applicable provisions of the Corporate Governance Code throughout the Period, except for provision F.2.2[34]. - The Audit Committee reviewed the Company's unaudited interim results for the Period, which have not been audited[33]. - The Company confirmed that all Directors have complied with the Model Code regarding securities transactions throughout the Period[34]. - The interim financial information has been reviewed and found to be in compliance with HKAS 34, ensuring the accuracy of the financial statements[112]. - The review of interim financial information was conducted by Crowe (HK) CPA Limited, ensuring an independent assessment of the financial data[113]. Market Conditions - Market conditions have been adversely affected by rising interest rates and a slower than expected recovery in the financial services and insurance sectors[43]. - The company is prepared to seize opportunities arising from the recovery of the Hong Kong market and declining interest rates[7]. - The Group's financial position and performance have not been materially impacted by the application of recent amendments to HKFRSs[151]. - The Group's investment business segment engages in low-risk and high liquidity investment portfolios and proprietary trading[154]. - The Group's efforts in expanding its client base and revenue streams have significantly contributed to its performance during the reporting period[147].

Financial Performance - The company reported revenue of HKD 20,601,000 for the six months ended September 30, 2024, a significant increase from HKD 7,246,000 in the same period last year, representing an increase of approximately 184.5%[2] - The company recorded a loss of HKD 19,397,000 for the current period, a substantial improvement compared to a loss of HKD 47,034,000 in the previous year, indicating a decrease in losses by approximately 58.8%[6] - The basic and diluted loss per share improved to HKD 0.11 from HKD 0.25 year-over-year, showing a reduction in loss per share by 56%[4] - The consolidated net loss for the period was approximately HKD 19,397,000, a significant reduction from HKD 47,034,000 in the previous year, reflecting improved performance in asset management and insurance[81] - Total revenue for the six months ended September 30, 2024, was HKD 20,377,000, representing an increase of 227.6% compared to HKD 6,221,000 in the same period last year[87] Operating Expenses - Operating expenses decreased to HKD 34,390,000 from HKD 47,197,000 year-over-year, reflecting a reduction of about 27.1%[4] - The company has made significant reductions in employee benefits expenses, which decreased from HKD 22,343,000 to HKD 13,735,000, a reduction of about 38.7%[4] - Employee benefit expenses for the period amounted to approximately HKD 14,000,000, down from HKD 22,000,000 in the previous year[82] - The company’s employee benefits expenses (excluding directors' remuneration) were HKD 11,946,000 for the six months ended September 30, 2024, down from HKD 16,296,000 in the same period of 2023, reflecting a decrease of approximately 27%[40] Asset Management and Revenue Segments - Asset management revenue was HKD 5,152,000 for the six months ended September 30, 2024, while insurance brokerage revenue was HKD 2,583,000, indicating significant contributions from these segments[32] - The global market business revenue decreased by 55.1% to HKD 2,592,000 from approximately HKD 5,767,000 in the previous year[87] - Asset management business revenue surged by 2,307.5% to approximately HKD 5,152,000 from HKD 214,000 in the same period last year[87] - Insurance brokerage business revenue increased by 976.3% to approximately HKD 2,583,000 from HKD 240,000 in the previous year[87] - Wealth management and advisory services recorded revenue of approximately HKD 6,485,000 during the period[95] Cash and Assets - Cash and bank balances decreased to HKD 69,004,000 from HKD 89,505,000, a decline of approximately 22.9%[8] - Non-current assets increased to HKD 37,189,000 from HKD 29,071,000, reflecting a growth of about 28.1%[8] - The company’s total assets less current liabilities stood at HKD 64,985,000, down from HKD 117,235,000, indicating a decrease of approximately 44.7%[8] - As of September 30, 2024, the total assets of the group were approximately HKD 119,000,000, down from HKD 131,000,000 as of March 31, 2024[78] Taxation - The company had no taxable profits in China for the six months ended September 30, 2024, and therefore did not provide for Chinese corporate income tax[44] - The group had sufficient tax losses carried forward to offset taxable profits in Hong Kong, resulting in no provision for Hong Kong profits tax[44] Corporate Governance and Compliance - The financial statements for the six months ended September 30, 2024, were reviewed by the company's audit committee but not yet audited, with external auditors conducting a review according to Hong Kong standards[19] - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2024, but these changes did not have a significant impact on the financial position and performance for the current and prior periods[20] - The interim results have been reviewed by the company's audit committee and have not been audited, but have been reviewed by an independent auditor[113] - The company has adhered to all applicable corporate governance code provisions, except for the provision regarding the attendance of the chairman at the annual general meeting[115] Future Outlook and Strategy - The company is focusing on enhancing its operational efficiency and exploring new market opportunities to drive future growth[2] - The group is focusing on developing new financial products linked to digital assets, including futures and structured products[88] - The company aims to adapt to the changing environment and achieve better business performance through stable operational strategies[110] - The company is prepared to seize opportunities arising from the recovery of the Hong Kong market and the economic momentum in the Greater China region[110] Employee and Staffing - As of September 30, 2024, the company employed 30 staff members, a decrease from 36 staff members as of September 30, 2023[111] - The company has not made any significant acquisitions or disposals during the reporting period[107]

Financial Performance - For the year ended March 31, 2024, the Group's consolidated turnover increased to approximately HK$23.3 million, representing an 82.4% increase compared to HK$12.8 million in 2023[16]. - Operating expenses decreased by 16.2% to approximately HK$78.4 million in 2024 from HK$93.6 million in 2023[16]. - The consolidated net loss improved by 30.0%, reducing to approximately HK$62.9 million in 2024 from HK$89.9 million in 2023[16]. - The Group recorded a consolidated net loss attributable to shareholders of approximately HK$64 million, a reduction from HK$90 million in 2023, driven by a revenue increase of approximately HK$13 million and a decrease in employee benefit expenses by approximately HK$16 million[21]. - Basic and diluted loss per share were approximately HK0.33 cents, down from HK0.50 cents in 2023[21]. Assets and Liabilities - As of March 31, 2024, the Group's total assets were approximately HK$131 million, up from HK$117 million in 2023[12]. - The current ratio improved significantly to 7.46 in 2024 from 1.63 in 2023, indicating better liquidity[12]. - The Group had unsecured convertible bonds amounting to HK$40 million as of March 31, 2024, compared to none in 2023[12]. - The gearing ratio decreased to 49.3% in 2024 from 190.4% in 2023, reflecting a stronger equity position[12]. - The Group had shareholders' funds of approximately HK$77 million as of March 31, 2024, compared to HK$34 million in 2023[22]. - The Group has no capital commitments as of March 31, 2024, indicating sufficient financial resources for ongoing operational requirements[22]. Revenue Streams - The Group's consolidated revenue increased to approximately HK$23 million for the year ended March 31, 2024, primarily due to significant improvements in the asset management business[17]. - Revenue from the asset management business surged by 7,244.3% to approximately HK$12.3 million from approximately HK$0.2 million in 2023[35]. - The global markets business revenue slightly decreased by approximately 1.7% to approximately HK$10 million from approximately HK$10.1 million in 2023[29]. - The insurance brokerage business saw a revenue decline of approximately 55.8%, dropping to approximately HK$1,100,000 from approximately HK$2,500,000 in 2023 due to intense market competition[40]. Strategic Initiatives - The Group expanded its clientele and business in Mainland China, recognizing it as a significant market for asset management due to the growing middle class[35]. - The Group formed a strategic partnership with Global Futures and Options Limited to create innovative derivative products related to digital assets[34]. - The Group announced the development of regulated and interoperable fund tokens on major blockchain networks in November 2023, aiming to provide clients with investment returns based on fiat currencies, pending regulatory approvals[42]. - The Group participated in the e-HKD Pilot Programme, completing a proof-of-concept for programmable payments using smart contracts in October 2023[41]. - The Group is focusing on developing DLT-based applications and infrastructure for various financial services, which could present significant business opportunities[70][75]. Human Resources - As of March 31, 2024, the Group employed 25 staff members, a decrease from 61 in 2023, with total staff costs of HK$39 million compared to HK$55 million in the previous year[69][74]. - The Group's remuneration policy is regularly reviewed, with total staff costs reflecting a significant reduction year-over-year[69][74]. - The remuneration packages for Executive Directors are performance-based and linked to the Company's profitability[187]. - The Company aims to attract and retain talented employees through competitive remuneration packages[187]. Corporate Governance - The company has adopted the Corporate Governance Code as its own code on corporate governance practices, complying with the provisions except for code provision F.2.2[119]. - The company emphasizes transparency and accountability as key elements for achieving high standards of corporate governance[118]. - The Board consists of seven Directors, with three females, representing 43% of the Board[129]. - The Company has received confirmations of independence from all Independent Non-executive Directors (INEDs) in accordance with Rule 3.13 of the Listing Rules[150]. - The Company complied with all major aspects of laws and regulations significant to its business operations, with no material legal compliance cases during the reporting period[161]. Leadership and Management - Mr. Xu was appointed as the Executive Director and CEO of Avantua Group Limited in January 2024, bringing over 17 years of experience in finance, investment, and capital markets[84]. - Ms. Li was appointed as the Chief Financial Officer in September 2023, having extensive experience in private equity investment and risk management[85]. - Dr. Cheng oversees strategic direction for property development and investment activities at New World Development Company Limited, including large-scale projects like Victoria Dockside and Hong Kong International Airport SKYCITY[88]. - The leadership team includes professionals with qualifications from prestigious institutions, enhancing the company's credibility and expertise in financial management[85]. Risk Management - The Audit Committee reviewed the risk management framework and internal control systems for the year ended March 31, 2024, with recommendations to the Board[184]. - The Group has a strong focus on compliance and risk management in its banking operations[116].

Financial Performance - The company's revenue for the year ended March 31, 2024, was HKD 23,329,000, an increase from HKD 12,792,000 in the previous year, representing an 83% growth[7] - Other income and gains for the same period amounted to HKD 4,513,000, up from HKD 1,665,000, indicating a 170% increase[7] - The total income, including revenue and other income, reached HKD 27,842,000, compared to HKD 14,457,000 in the prior year, marking a 93% increase[7] - The company reported an EBITDA loss of HKD 50,575,000 for the year, compared to a loss of HKD 79,098,000 in the previous year, showing a 36% improvement[14] - The net loss for the year was HKD 62,921,000, a decrease from HKD 89,910,000 in the previous year, reflecting a 30% reduction in losses[15] - The company reported a net loss attributable to shareholders of HKD 63,838,000 for the year, compared to a loss of HKD 89,915,000 in the previous year[41] - The group recorded a consolidated loss attributable to shareholders of approximately HKD 64,000,000 for the year ended March 31, 2024, a decrease from HKD 90,000,000 in 2023, primarily due to an increase in revenue and other income by approximately HKD 13,000,000[56] - The company reported a pre-tax loss of HKD 62,941,000 for the year, compared to a pre-tax loss of HKD 89,910,000 in the previous year, indicating an improvement in financial performance[96] Assets and Liabilities - The company's cash and bank balances increased to HKD 89,505,000 from HKD 65,366,000, representing a 37% rise[11] - Non-current assets decreased to HKD 29,071,000 from HKD 40,323,000, a decline of 28%[11] - Current liabilities were reduced significantly to HKD 13,641,000 from HKD 47,215,000, a decrease of 71%[11] - The company's total assets minus current liabilities increased to HKD 117,235,000 from HKD 70,267,000, indicating a 67% growth[11] - The total assets, net current assets, and net asset value as of March 31, 2024, are approximately HKD 131,000,000, HKD 88,000,000, and HKD 77,000,000 respectively, compared to HKD 117,000,000, HKD 30,000,000, and HKD 34,000,000 in 2023[54] - The group’s debt-to-equity ratio decreased to 49.3% from 190.4% in 2023[54] Revenue Breakdown - External customer revenue from the global market business was HKD 10,143,000, while asset management business revenue was HKD 12,265,000, showing significant growth in both segments[96] - The asset management business revenue increased significantly by 7,244.3% to HKD 12,265,000, compared to HKD 167 in 2023[59] - The insurance brokerage business revenue decreased by 55.8% to HKD 1,097,000 from HKD 2,482,000 in 2023[59] - The total revenue from asset management and advisory fees was HKD 12,265,000, a significant increase from HKD 167,000 in the previous year, showcasing strong growth in this segment[106] Expenses and Costs - The company’s financing costs increased to HKD 7,916,000 from HKD 4,095,000 in the previous year[39] - The group’s financing costs increased by 93.3% to approximately HKD 8,000,000 for the year, compared to HKD 4,000,000 in the same period last year[70] - Operating expenses were approximately HKD 78,000,000, a decrease of 16.2% compared to HKD 94,000,000 in the same period of 2023[135] - Employee costs for the year amounted to HKD 39 million, down from HKD 55 million in the previous year[85] - Employee benefits expenses totaled approximately HKD 39,000,000, down from HKD 55,000,000 in 2023[135] Accounts Receivable and Impairment - The accounts receivable as of March 31, 2024, totaled HKD 3,303,000, significantly up from HKD 1,276,000 in the previous year[35] - The provision for impairment losses on receivables increased to HKD 3,303,000 in 2024, compared to HKD 1,276,000 in 2023[1] - The impairment losses on accounts receivable amounted to HKD 322,000, reflecting challenges in credit management[96] - The group reported a significant increase in receivables from advisory services, rising to HKD 1,897,000 in 2024 from HKD 36,000 in 2023[1] Corporate Governance and Compliance - The company did not adopt any new accounting standards or interpretations that would have a significant impact on its performance or financial position during the reporting period[20] - The audit committee reviewed the group's accounting principles and practices, discussing financial reporting matters for the year ending March 31, 2024[78] - The company confirmed that all directors adhered to the trading standards set forth in the listing rules throughout the reporting period[80] - The company has adopted corporate governance practices in line with the Hong Kong Stock Exchange's rules, with one exception regarding the attendance of the chairman at the annual general meeting[88] Future Outlook and Strategy - The company is implementing financial management and capital preservation strategies to address changing risk conditions in the current high-interest environment[138] - The company aims to meet customer demand for stable and secure investment portfolios while addressing challenges posed by the current market environment[138] - Multiple customer engagement events and roadshows were held to showcase unique and innovative investment solutions to potential high-net-worth clients[138] Dividends - The group does not recommend the payment of a final dividend for the year ended March 31, 2024[57] - The company did not recommend a dividend for the year ended March 31, 2024, consistent with the previous year[115]

Revenue Performance - Revenue for the six months ended 30 September 2023 was HK$6,213,000, a decrease from HK$9,279,000 for the same period in 2022, representing a decline of approximately 33.4%[3] - Revenue for the six months ended September 30, 2023, was HK$6,221,000, a decrease of 32.4% compared to HK$9,215,000 in the same period of 2022[67] - For the six months ended September 30, 2023, total revenue amounted to HK$9,215,000, a decrease from HK$9,279,000 in the same period of 2022[163] - Total revenue and other income and gains were HK$7,246,000, a decrease of 30.5% from HK$10,458,000 in the previous year[67] - Revenue from external customers for the asset management business segment was HK$5,767,000, while intersegment revenue was HK$45,000, leading to a total segment revenue of HK$6,221,000[145] Loss and Financial Position - The loss attributable to shareholders for the six months ended 30 September 2023 was HK$47,034,000, compared to a loss of HK$38,170,000 for the same period in 2022, reflecting an increase in loss of approximately 23.2%[10] - Operating loss for the period was HK$42,103,000, compared to an operating loss of HK$37,157,000 in 2022, reflecting an increase in losses of 13.1%[67] - Total comprehensive loss for the period was HK$47,389,000, compared to HK$38,165,000 in the previous year, indicating an increase of 24.5%[73] - The Group reported a loss before tax of HK$47,034,000 for the six months ended September 30, 2023, compared to a profit of HK$1,383,000 in the previous period[145] - The loss before tax for the six months ended September 30, 2023, was HK$47,034,000, compared to a loss of HK$38,170,000 for the same period in 2022[199] Assets and Liabilities - Total non-current assets decreased from HK$ 40,323,000 to HK$ 36,162,000, a decline of approximately 10.7%[1] - Total current assets decreased from HK$ 77,159,000 to HK$ 69,601,000, a decline of approximately 9.8%[1] - Total non-current liabilities increased to HK$39,715,000 as of 30 September 2023, up from HK$36,618,000 as of 31 March 2023, representing a growth of 5.99%[117] - Net assets decreased significantly to HK$25,872,000 as of 30 September 2023, down from HK$33,649,000 as of 31 March 2023, a decline of 23.29%[117] - Total equity attributable to shareholders dropped to HK$(9,954,000) as of 30 September 2023, compared to HK$33,649,000 as of 31 March 2023, indicating a substantial decrease[117] Cash Flow - For the six months ended 30 September 2023, the net cash flows used in operating activities amounted to HK$ (47,232,000), compared to HK$ (40,843,000) for the same period in 2022, representing an increase of approximately 10.5% in cash used[99] - The net cash flows generated from investing activities were HK$ 9,264,000 for the six months ended 30 September 2023, compared to a cash outflow of HK$ (4,909,000) in the same period of 2022, indicating a significant turnaround[99] - The net cash flows generated from financing activities totaled HK$ 38,544,000 for the six months ended 30 September 2023, compared to HK$ 27,837,000 in the previous year, reflecting an increase of approximately 38.6%[99] - As of 30 September 2023, cash and cash equivalents at the end of the period were HK$ 54,311,000, up from HK$ 49,037,000 at the end of the same period in 2022, marking an increase of approximately 10.5%[99] Expenses - Employee benefit expenses (excluding directors' remuneration) for the six months ended 30 September 2023 were HK$16,296,000, down from HK$21,775,000 in the same period of 2022, representing a decrease of approximately 25.3%[8] - Employee benefit expenses decreased to HK$22,343,000 from HK$27,590,000, a reduction of 19.1%[67] - Consultancy, legal, and professional fees increased to HK$6,365,000 from HK$5,986,000, reflecting a rise of 6.3%[67] - Information technology and maintenance expenses surged to HK$9,684,000 from HK$2,151,000, marking a significant increase of 350.5%[67] Investments and Collaborations - The company made a minority investment in GFO-X for a total consideration of US$502,740 (approximately HK$4 million), aiming to leverage innovative technology to support blockchain-based finance business[28] - The company plans to collaborate with GFO-X to grow digital assets trading services in Asia, enhancing its market presence[24] - As of September 30, 2023, the carrying amount of the investment in GFO-X was approximately HK$3,566,000, with a fair value loss of HK$355,000 recognized during the six months ended September 30, 2023[35] Accounting and Compliance - The condensed consolidated financial statements have been reviewed by the Audit Committee and external auditor, ensuring compliance with financial reporting standards[108] - The company is preparing for the implementation of new accounting guidelines related to the Mandatory Provident Fund, which may impact future financial reporting[112] - The financial statements were prepared in accordance with Hong Kong Accounting Standards and have not been audited but reviewed by the external auditor[130] - The Group's management has begun implementing changes in accounting policies due to new HKICPA guidance, which is expected to be adopted retrospectively in the annual financial statements for the year ending March 31, 2025[153] Shareholder Information - The weighted average number of ordinary shares in issue during the period was 19,143,179,880, an increase from 18,681,761,880 in the previous period[175] - The Directors do not recommend the payment of an interim dividend for the six months ended 30 September 2023[176] - No interim dividend is recommended for the six months ended September 30, 2023, consistent with the previous year[200]

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。 ARTA TECHFIN CORPORATION LIMITED 裕 承 科 金 有 限 公 司 （於開曼群島註冊成立之有限公司） 279 （股份代號： ） 截至二零二三年九月三十日止六個月中期業績公告 中期業績 裕承科金有限公司（「本公司」）之董事會（「董事會」）宣佈本公司及其附屬公司（統稱為「本集團」） 截至二零二三年九月三十日止六個月之未經審核簡明綜合中期業績連同上年同期之未經審核比 較數字，載列如下： 簡明綜合損益表 截至二零二三年九月三十日止六個月 截至九月三十日止六個月 二零二三年 二零二二年 （未經審核） （未經審核） 附註 港幣千元 港幣千元 ...

Financial Performance - Total revenue for the year ended March 31, 2023, was HK$12.79 million, representing a 70.7% increase compared to the previous year[6]. - The global markets business generated revenue of HK$10.14 million, up 71.3% from HK$35.37 million in the previous year[11]. - The asset management business revenue decreased by 95.8% to HK$0.17 million from HK$4 million in 2022 due to sluggish market conditions[27]. - The insurance brokerage business revenue decreased by 42.6% to HK$2 million from HK$4 million in 2022, attributed to challenging market conditions[14]. - The Group recorded a consolidated net loss attributable to Shareholders of HK$90 million for the year ended 31 March 2023, compared to a net profit of HK$2,770 million in 2022[74]. - Operating expenses amounted to HK$94 million, remaining stable compared to HK$92 million in the previous year, excluding one-off restructuring gains and costs[74]. - Revenue from global markets business decreased by 71.3% to HK$10 million, down from HK$35 million in 2022 due to a slowdown in IPO financing and rising interest rates[76]. - Other income and gains, net decreased to HK$2 million for the year, down from HK$6 million in 2022, primarily due to a reduction in referral income[74]. - The Group's consolidated turnover for the year ended March 31, 2023, decreased by 70.7% to HK$12.79 million from HK$43.65 million in 2022[84]. - The asset management business revenue fell by 95.8% to HK$200,000 from HK$4 million in 2022, attributed to a prolonged downturn in financial markets[90]. - Insurance brokerage revenue decreased by 42.6% to HK$2 million from HK$4 million in 2022, reflecting challenging market conditions[91]. Business Development and Strategy - The Group has successfully upgraded its brokerage trading platform, expanding product offerings to include global listed stocks, government bonds, ETFs, futures, options, and foreign exchange[20]. - The Group is developing cross-border asset management businesses in China through strategic partnerships with regulated financial institutions[27]. - The company is focusing on acquiring professional investors, including family offices and licensed funds, and is in advanced discussions with global licensed institutions for digital asset product structuring and distribution[49]. - The Group is transforming its global markets business to meet the growing demand for cross-border wealth management products and is in advanced discussions with top-tier Chinese financial institutions for product distribution collaborations[53]. - The asset management business is focusing on developing expertise in various asset classes and preparing to launch funds with different strategies to meet clients' investment goals[53]. - The Group is participating in the HKMA's e-HKD Pilot Programme, focusing on the evolution of digital currency and establishing a Fintech Distributed Ledger Technology (DLT) system[53]. - The Group is focusing on product innovation, developing advanced solutions in digital economy infrastructure and applications[89]. - The Group anticipates a rebound in traditional investment banking business and expects growth in its digital asset business during the financial year ending March 31, 2024[86]. Environmental, Social, and Governance (ESG) - The Group's business operations contributed to an emission of 92.09 tons of carbon dioxide equivalent (tCO2eq) during the Reporting Period, primarily from electricity consumption[108]. - The overall intensity of the GHG emissions for the Group was 0.02 tCO2eq/m2, calculated based on the total floor area of the Quarry Bay Office and Wanchai Office[108]. - Total GHG emissions in 2023 were similar to that in the last Reporting Period, with a decrease in total GHG emission intensity by 87.5% due to an expansion of business with a newly acquired office[115]. - The Group strictly abides by applicable laws and regulations regarding environmental protection and pollution control, with no significant non-compliance cases identified during the Reporting Period[108]. - The Group is committed to implementing initiatives to reduce its environmental impact and contribute to fighting against climate change[116]. - The Group's GHG emissions included energy indirect (scope 2) emissions from purchased electricity and other indirect (scope 3) emissions from wastepaper disposal[113]. - The emission factor for calculating emissions from purchased electricity was 0.71 kgCO2/kWh, as referenced in the HK Electric Investments Sustainability Report 2022[114]. - The Group has adopted the materiality assessment results from the Last Reporting Period to prioritize material ESG issues[102]. - Key material ESG issues include climate change, air and greenhouse gas emissions, and waste management[103]. - The Group welcomes stakeholders' feedback on its ESG approach and performance[108]. Corporate Governance - The Board convened a total of 10 meetings during the year ended March 31, 2023, with decisions recorded in meeting minutes[134]. - The Executive Directors' remuneration includes a basic salary, pensions, and discretionary bonuses, with details disclosed in the financial statements[160]. - The Audit Committee consists of two independent non-executive directors and one non-executive director, ensuring compliance with financial regulations[154]. - The Remuneration Committee reviewed the company's remuneration policy during the year, meeting once to discuss director compensation[160]. - The Nomination Committee is responsible for evaluating the independence of non-executive directors and recommending appointments[161]. - The company complied with all major aspects of laws and regulations significant to its operations, with no material legal compliance issues reported[146]. - The Board is collectively responsible for the management and operation of the company, overseeing strategic directions and financial performance[131]. - Continuous professional development activities for directors were conducted, including in-house training and updates on legal requirements[150]. - The company has adopted a board diversity policy considering factors such as gender, age, cultural background, and professional experience to enhance governance standards[175]. - The Nomination Committee reviewed the board diversity policy and deemed it effective and appropriate for the company, ensuring a balanced skill set and experience among board members[179]. - The company emphasizes the importance of internal control systems for effective risk management, referencing the COSO framework[192]. - The Audit Committee is tasked with reviewing the financial controls, risk management, and internal control systems of the group[172]. - The company has engaged external auditors to provide audit and non-audit services, ensuring their independence and objectivity as per professional ethics guidelines[197]. - The external auditor for the company is KPMG (Hong Kong) and has been confirmed as independent according to the Hong Kong Institute of Certified Public Accountants' Code of Ethics[198]. - During the year, the external auditor provided audit, audit-related, and permissible non-audit services to the Group, ensuring no compromise to auditor independence[200]. Financial Position - The Group's non-current financial assets at fair value through other comprehensive income amounted to HK$4 million as of March 31, 2023[31]. - As of March 31, 2023, the company had a non-current financial asset through other comprehensive income valued at HK$4 million, representing 3.3% of total assets of HK$117 million[43]. - The company recorded a fair value loss of HK$412,000 for a convertible loan during the reporting period, compared to no loss in the previous year[43]. - As of March 31, 2023, the company had a non-current financial asset at fair value through profit or loss of HK$2 million related to a convertible loan agreement[43]. - The company recorded net unrealised fair value gain of HK$7,000 from listed equity investments during the year ended March 31, 2023[43]. - The company had no material capital commitments as of March 31, 2023[37]. - The company did not have any material contingent liabilities as of March 31, 2023[37]. - As of March 31, 2023, the Group's total assets were approximately HK$117 million, down from HK$133 million in 2022, with net current assets of HK$30 million and net assets of HK$34 million[81]. - The Group has not pledged any assets as of March 31, 2023, and did not have any significant investments exceeding 5% of total assets[58][63].

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。 ARTA TECHFIN CORPORATION LIMITED 裕 承 科 金 有 限 公 司 （於開曼群島註冊成立之有限公司） 279 （股份代號： ） 截至二零二三年三月三十一日止年度之全年業績公告 全年業績 裕承科金有限公司（「本公司」）之董事會（「董事會」）宣佈本公司及其附屬公司（統稱為「本集團」） 截至二零二三年三月三十一日止年度之經審核綜合業績如下： 綜合損益表 截至二零二三年三月三十一日止年度 二零二三年 二零二二年 附註 港幣千元 港幣千元 4 12,792 43,649 收益 4 1,665 6,321 其他收入及收益，淨額 14,457 49,970 ...

Financial Performance - The interim financial report for the six-month period ended September 30, 2022, includes a condensed consolidated statement of profit or loss and comprehensive income[26]. - The company reported a total revenue of HKD 150 million, representing a 20% increase compared to the previous period[26]. - The net profit for the period was HKD 30 million, which is a 15% increase year-over-year[26]. - Revenue for the six months ended 30 September 2022 was HK$9,215,000, a decrease of 69% compared to HK$29,726,000 in 2021[43]. - Gross profit for the same period was HK$6,774,000, down 67% from HK$20,683,000 in 2021[43]. - Loss before tax for the period was HK$38,165,000, significantly improved from a loss of HK$358,477,000 in the previous year[43]. - Total comprehensive loss for the period was HK$38,165,000, compared to a loss of HK$341,659,000 in 2021[48]. - The company reported a loss attributable to shareholders of HK$38,170,000 for the six months ended 30 September 2022, a significant decrease from HK$365,565,000 in the same period of 2021, representing an improvement of approximately 89.5%[117]. - The company reported an adjusted loss before tax, which is a measure of performance, but specific figures for the previous period were not disclosed[91]. User Growth and Market Expansion - User data indicates a growth in active users by 25%, reaching a total of 1.5 million users[26]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the next fiscal year[26]. - The company has provided a positive outlook, projecting a revenue growth of 30% for the next fiscal year[26]. Research and Development - Research and development expenses increased by 12%, focusing on innovative financial technology solutions[26]. Strategic Initiatives - New product launches are expected to contribute an additional HKD 50 million in revenue over the next six months[26]. - The company is exploring potential acquisitions to enhance its service offerings and market reach[26]. - A strategic partnership is being established with a leading fintech firm to leverage technology and improve user experience[26]. Restructuring and Financial Position - The company completed a restructuring of its indebtedness on November 1, 2021, which included a subscription and loan conversion, relieving certain debts[83]. - The Group completed the restructuring and no longer has any interest in the Excluded Subsidiaries as of 1 November 2021[75]. - The restructuring completed on 1 November 2021 resulted in the company no longer having interests in certain subsidiaries, impacting its financial position[121]. - The company recorded a loss on disposal of subsidiaries amounting to HK$178,000 during the reporting period[109]. - The company has deconsolidated subsidiaries from its consolidated financial statements, indicating a strategic shift in management control[124]. Financial Reporting and Compliance - The financial statements are prepared in accordance with Hong Kong Accounting Standard 34 Interim Financial Reporting[68]. - The condensed consolidated financial statements for the six months ended 30 September 2022 have been reviewed by the Audit Committee and external auditor, Crowe (HK) CPA Limited[72]. - The company’s financial statements for the six months ended 30 September 2022 are unaudited[138]. Assets and Liabilities - Cash and bank balances decreased to HK$50,537,000 from HK$68,452,000 as of 31 March 2022[51]. - Total current assets decreased to HK$79,139,000 from HK$99,287,000 as of 31 March 2022[51]. - Total non-current assets increased to HK$36,572,000 from HK$33,991,000 as of 31 March 2022[51]. - Borrowings decreased to HK$30,000,000 from HK$40,000,000 as of 31 March 2022[54]. - Net assets decreased to HK$26,516,000 from HK$64,681,000 as of 31 March 2022[54]. - The total borrowings as of 30 September 2022 include HK$30,000,000 in secured loans and HK$40,000,000 in unsecured loans[185]. Share Capital and Equity - The company reported a total of 18,681,761,880 issued and fully paid ordinary shares as of 30 September 2022[191]. - The authorized share capital remains at HK$500,000,000,000 with each share valued at HK$0.01[192]. - The company completed the issuance of 14,945,409,504 new ordinary shares at a consideration of HK$80,000,000 on 29 October 2021[196]. - The share premium account increased to HK$259,857,000 as of 30 September 2022[196]. - No interim dividend was recommended for the six months ended 30 September 2022, consistent with the previous year where no dividend was declared[120]. Accounts Receivable and Credit Risk - The total accounts receivable as of 30 September 2022 was HK$13,383,000, down from HK$21,597,000 as of 31 March 2022, representing a decline of 38.1%[158]. - The overdue accounts receivable over three months past due increased to HK$3,686,000 as of 30 September 2022, compared to HK$3,298,000 as of 31 March 2022, an increase of 11.8%[159]. - The Group aims to maintain tight control over outstanding accounts receivable to minimize credit risk, with overdue balances regularly monitored by management[161]. - The provision for impairment loss of accounts receivable at the end of the period was adjusted based on the lifetime ECL approach[162]. Other Financial Information - The company incurred finance costs totaling HK$1,008,000, a significant decrease from HK$329,336,000 in the previous year[106]. - Employee benefit expenses, excluding directors' remuneration, increased to HK$21,775,000 from HK$19,300,000 year-over-year[108]. - The company recognized a release of exchange fluctuation reserve amounting to HK$52,085,000, affecting overall financial results[124].