Financial Performance - Revenue for the six months ended September 30, 2023, was HK$67,520,000, representing an increase of 13.5% from HK$59,642,000 in the same period of 2022[24] - Profit for the period increased to HK$53,165,000, up 37.7% from HK$38,603,000 in the previous year[4] - Basic earnings per share rose to HK1.98 cents, compared to HK1.43 cents for the same period last year, reflecting a growth of 38.5%[2] - The comprehensive income attributable to owners of the Company for the period was HK$49,380,000, up from HK$32,459,000 in the previous year, representing a growth of 52.1%[32] - The Group reported a profit before taxation of HK$57,987,000 for the six months ended September 30, 2023, compared to HK$43,619,000 for the same period in 2022, indicating a growth of around 32.9%[71] Revenue Breakdown - The Company reported a decrease in broking revenue to HK$2,979,000 from HK$3,106,000, a decline of 4.1% year-over-year[46] - Revenue from properties investment leases increased to HK$18,403,000, up 20.5% from HK$15,283,000 in the prior year[46] - Financing interest from margin clients decreased to HK$2,450,000, down 20.4% from HK$3,077,000 in the previous year[46] - Financing segment revenue increased to HK$45,390,000, up from HK$40,124,000, reflecting a growth of about 13.3% year-over-year[71] - Properties investment segment revenue rose to HK$18,403,000, compared to HK$15,283,000 in the previous year, marking an increase of approximately 20.5%[71] Assets and Liabilities - Net assets as of September 30, 2023, were HK$2,757,055,000, slightly down from HK$2,761,140,000 as of March 31, 2023[5] - The total equity attributable to owners of the Company as of September 30, 2023, was HK$2,758,389,000, slightly down from HK$2,762,469,000 as of March 31, 2023[34] - The Company’s reserves decreased to HK$2,731,565,000 from HK$2,735,645,000, reflecting a reduction of 0.15%[34] - The Group's non-current assets as of September 30, 2023, were valued at HK$1,743,124,000, slightly down from HK$1,749,916,000 as of March 31, 2023[73] - The Group's total assets as of September 30, 2023, were HK$817,990,000, compared to HK$825,908,000 at the end of March 2023[84] Cash Flow and Liquidity - Cash and cash equivalents stood at HK$398,513,000, down from HK$459,327,000, a decrease of 13.2%[10] - The Group had bank balances and cash of approximately HK$398.5 million as of September 30, 2023, down from HK$459.3 million as of March 31, 2023[175] - The Group's cash at banks was HK$41,960,000 as of September 30, 2023, down from HK$48,500,000 as of March 31, 2023[126] - Secured bank loans amounted to HK$48,792,000 as of September 30, 2023, down from HK$138,715,000 as of March 31, 2023[154] Dividends and Shareholder Returns - The company did not declare any interim dividend for the period, consistent with the previous year[7] - The company declared an interim dividend of HK$0.02 per share, with a total payout of approximately HK$53,646,000, unchanged from the previous year[140] Economic Environment - The economic environment remains complex, with global economic growth slowing and demand declining due to high inflation and interest rates[141] - The Hong Kong economy has shown signs of recovery, with economic activity improving compared to the previous year, although the recovery foundation is still unstable[142] - The economic outlook for the second half of 2023 is cautiously optimistic, with expectations of steady improvement in the economy of Mainland China and Hong Kong[172] Credit and Risk Management - The Company is closely monitoring credit risk and has implemented regular reviews of collateral values to minimize exposure[148] - The aging analysis of receivables is prepared monthly to minimize credit risk associated with debtors[120] - The Credit Committee meets weekly to monitor loan recoverability and collateral value, reporting regularly to the Board[121] Operational Highlights - The Group's guarantees to financial institutions in respect of facilities granted to subsidiaries amounted to HK$452.0 million as of September 30, 2023[182] - The Group has complied with all covenants throughout the reporting period[129] - The Group recognized tax losses of approximately HK$64,483,000 available for offsetting against future taxable profits, slightly down from HK$64,486,000[77]

Financial Performance - The financing segment recorded revenue of approximately HK$75.9 million, a decrease of approximately HK$8.7 million or 10.3% compared to the previous year[10]. - The segment results for the financing segment were approximately HK$11.4 million, net of impairment loss[10]. - The Group recorded a profit of approximately HK$100.2 million for the financial year 2023, representing a 15.2% increase compared to HK$87.0 million in the previous year[35]. - Revenue decreased by approximately HK$12.1 million, a decline of around 9.5%, from approximately HK$127.0 million in the previous year[35]. - The company's revenue for the year ended March 31, 2023, was HK$114,961,000, a decrease of 9.1% from HK$127,011,000 in 2022[132]. - Profit before taxation increased to HK$107,106,000, up 9.0% from HK$97,450,000 in the previous year[132]. - Profit attributable to owners of the company for the year was HK$100,310,000, representing a significant increase of 15.2% compared to HK$87,036,000 in 2022[132]. - Total assets as of March 31, 2023, were HK$3,047,106,000, down from HK$3,292,975,000 in 2022, reflecting a decrease of 7.4%[132]. - Total liabilities decreased to HK$285,966,000 from HK$574,474,000 in the previous year, a reduction of 50.2%[132]. - Net assets increased to HK$2,761,140,000, compared to HK$2,718,501,000 in 2022, marking a growth of 1.6%[132]. Investment and Financing - As of March 31, 2023, the Group pledged investment properties with a fair value of approximately HK$1,467.0 million to secure banking facilities, an increase from HK$1,386.1 million in 2022[22]. - The Group has provided guarantees to financial institutions amounting to HK$452.0 million for facilities granted to subsidiaries, with HK$138.7 million utilized as of March 31, 2023[23]. - The Group will continue to adopt a prudent investment policy to seize attractive market opportunities and optimize diversification and flexibility[15]. - The Group's cautious financial monitoring approach is in response to the economic downturn in Hong Kong, particularly regarding customer loan recoverability[8]. - The Group expects significant influences on financial performance in the second half of 2023 due to potential U.S. recession and high-interest rates[40]. - The market is anticipated to experience brief but frequent volatility, with a focus on identifying undervalued industries and firms[42]. Corporate Governance and Management - The Group has established a Compliance and Risk Steering Committee to enhance corporate governance and support future expansion[46]. - The Company has maintained directors and officers liability insurance for protection against legal actions[115]. - The Company’s organizational structure and governance are supported by various committees including the Audit Committee and Remuneration Committee[98]. - The independent non-executive Directors' term lasts until retirement by rotation as per the Company's Articles of Association[54]. - The Company received confirmation of independence from each independent non-executive Director for the year ended 31 March 2023[52]. Employee and Workforce Development - The total employee costs for the Group were approximately HK$15.0 million, representing 13.1% of the Group's revenue for the fiscal year 2023[27]. - The Group is focused on enhancing workforce capabilities through regular training to improve technical skills and industry knowledge[25]. Shareholder Information - The board declared a final dividend of HK$0.02 per ordinary share for the year[128]. - The Group's five largest clients accounted for approximately 31.63% of total revenue for the year ended March 31, 2023, down from 38% in 2022, with one customer contributing over 10% of total revenue[76]. - The company's reserves available for distribution amounted to approximately HK$370.0 million as of March 31, 2023, unchanged from 2022[74]. Market Conditions and Risks - The ongoing geopolitical tensions and high inflation are expected to create uncertainty in the financial markets, impacting recovery efforts[7]. - The company continues to face significant risks and uncertainties, as discussed in the annual report, particularly in financial performance and market conditions[127]. - Future outlook remains cautious due to market volatility and economic conditions, with ongoing assessments of strategic opportunities[127]. Business Segments - The Group operates across six key business streams: Brokerage, Financing, Corporate Financial Advisory, Assets Management, Properties Investment, and Precious Metal Trading[197]. - The Company’s subsidiaries are engaged in various financial services including money lending and asset management[101]. - The principal activities of the Company include securities broking, futures broking, and corporate finance advisory[101].

Financial Performance - For the year ended March 31, 2023, Upbest Group Limited reported a profit of HK$100,236,000, an increase from HK$86,993,000 in the previous year, representing a growth of approximately 15.7%[7] - Revenue for the year ended March 31, 2023, was HK$114,961,000, a decrease of 9.1% from HK$127,011,000 in 2022[28] - Profit for the year increased to HK$100,236,000, up 15.1% from HK$86,993,000 in the previous year[29] - Total comprehensive income for the year was HK$95,935,000, compared to HK$89,531,000 in 2022, marking a 7.4% increase[31] - Basic earnings per share rose to HK3.7 cents, compared to HK3.2 cents in 2022, reflecting a 15.6% increase[29] Shareholder Information - Proposed final dividend remains unchanged at HK$53,646,000, with a dividend per share of HK2.0 cents[28] - As of the announcement date, CCAA Group Limited holds 1,992,721,496 shares of Upbest Group, accounting for approximately 74.29% of the issued share capital, unchanged from the previous year[11] Financial Position - Net assets as of March 31, 2023, totaled HK$2,761,140,000, an increase from HK$2,718,501,000 in 2022[32] - Cash and cash equivalents decreased to HK$459,327,000 from HK$568,386,000, a decline of 19.2%[32] - Total trade receivables decreased to HK$50,173,000 from HK$73,372,000, while interest-bearing loan receivables fell to HK$640,176,000 from HK$822,271,000[100] - Total cash and cash equivalents decreased to HK$405,444,000 in 2023 from HK$464,551,000 in 2022, a decline of 12.7%[131] - The Group has total borrowings of approximately HKD 139.3 million as of March 31, 2023, down from HKD 234.6 million in 2022[200] Revenue Breakdown - Total revenue from contracts with customers decreased to HK$8,117,000 in 2023 from HK$13,679,000 in 2022, representing a decline of approximately 40.5%[60] - Brokerage income from securities decreased to HK$4,392,000 in 2023 from HK$6,522,000 in 2022, a decrease of about 32.6%[60] - Corporate finance revenue significantly dropped to HK$152,000 in 2023 from HK$3,176,000 in 2022, indicating a decline of approximately 95.2%[62] - Revenue from asset management, including precious metal trading, was HK$1,584,000 in 2023, down from HK$1,735,000 in 2022, a decrease of approximately 8.7%[62] - Revenue from leases increased to HK$30,969,000 in 2023 from HK$28,757,000 in 2022, marking an increase of about 7.6%[62] Expenses and Costs - Administrative and other operating expenses significantly increased to HK$74,900,000 from HK$21,000,000, indicating a rise of 256.2%[29] - The total staff cost for 2023 was HK$15,042,000, a slight decrease from HK$15,471,000 in 2022[90] - The Group's administrative and operating expenses for the fiscal year were approximately HK$25.8 million, a decrease of about HK$0.6 million from the previous year, with administrative expenses accounting for approximately 22.5% of revenue[192] Taxation - The Group's effective tax rate remained stable at 16.5% for both 2023 and 2022, with current year Hong Kong profits tax recorded at HK$6,711,000 in 2023, down from HK$11,154,000 in 2022[69] - The company operates under a two-tiered profits tax regime in Hong Kong, with the first HK$2 million taxed at 8.25%[92] Investment Properties - The company has investment properties held for rental purposes, situated in Macau under medium-term leases[97] - Fair value of investment properties increased to HK$1,697,000,000, with a net increase of HK$74,900,000 recognized in the consolidated income statement[96] - As of 31 March 2023, the fair value of the Group's investment properties was approximately HK$1,697.0 million, with a net fair value increase of approximately HK$74.9 million recorded during the year[186] Economic Outlook - The economic outlook remains uncertain due to potential U.S. recession and geopolitical tensions, which may impact financial performance in the second half of 2023[162] - Real GDP in Hong Kong is expected to grow by 3.5% to 5.5% in the latter half of 2023, following a 3.5% decline in 2022[150] - The Hong Kong economy is expected to rebound significantly in the second half of 2023, with real GDP growth projected between 3.5% to 5.5%[181] Compliance and Reporting - The consolidated financial statements are prepared in accordance with HKFRSs, and all values are rounded to the nearest thousand (HK$'000)[12] - The Group's financial reporting adheres to the standards issued by the HKICPA, ensuring compliance and accuracy in financial disclosures[24] - The Group continues to adopt the going concern basis in preparing the consolidated financial statements, expecting sufficient resources for the foreseeable future[26] Risk Management - The Group maintained a cautious approach in evaluating loan recoverability, ensuring competitiveness while managing risks[183] - The Group implemented a more prudent treasury control approach due to the downturn in the Hong Kong economy[144]

Financial Performance - Revenue for the six months ended September 30, 2022, was HK$59,642,000, a decrease of 15.5% from HK$70,582,000 in the same period of 2021[9]. - Profit for the period attributable to owners of the Company was HK$38,603,000, down 18.3% from HK$47,211,000 in the previous year[12]. - Basic earnings per share decreased to 1.43 HK cents from 1.76 HK cents, reflecting a decline of 18.8%[7]. - Total comprehensive income for the period was HK$32,459,000, a decrease of 32.7% compared to HK$48,245,000 in the prior year[13]. - The overall profit before taxation for the six months ended September 30, 2022, was HK$43,619,000, a decrease of 19.2% from HK$54,005,000 in 2021[94]. - The Group's profit attributable to owners for the six months ended 30th September 2022 was approximately HK$38,459,000, compared to HK$47,234,000 in 2021, reflecting a decrease of 18.5%[135]. Revenue Breakdown - For the six months ended September 30, 2022, total revenue from contracts with customers was HK$4,235,000, a decrease of 47.7% compared to HK$8,102,000 in the same period of 2021[84]. - Revenue from broking services was HK$3,106,000, down 39.7% from HK$5,156,000 in the previous year[83]. - Corporate finance revenue significantly decreased to HK$152,000 from HK$1,933,000, representing a decline of 92.1%[83]. - Assets management revenue was HK$746,000, slightly down from HK$807,000, a decrease of 7.5%[83]. - Precious metal trading revenue increased to HK$231,000 from HK$206,000, marking an increase of 12.1%[83]. - Margin clients' interest revenue decreased to HK$3,077,000 from HK$4,569,000, a decline of 32.7%[86]. - Money lending revenue decreased to HK$35,223,000 from HK$41,897,000, a decline of 16.1%[86]. - Financing segment revenue decreased by 16.3% to HK$40,124,000 from HK$47,857,000 year-on-year[92]. - Corporate finance segment revenue significantly dropped by 92.1% to HK$152,000 compared to HK$1,933,000 in the previous year[92]. - Properties investment segment revenue increased by 4.5% to HK$15,283,000 from HK$14,623,000 in 2021[92]. Expenses and Liabilities - Administrative and other operating expenses were HK$13,544,000, slightly reduced from HK$13,960,000 in the previous period[9]. - Total current liabilities decreased to HK$539,323,000 as of September 30, 2022, from HK$574,474,000 as of March 31, 2022, representing a reduction of approximately 6.1%[14]. - Net cash used in financing activities was HK$67,845,000, compared to HK$40,622,000 in the same period last year, indicating a significant increase of approximately 66.9%[58]. - Interest paid for borrowings increased to HK$2,442,000 in the current period from HK$1,864,000 in the previous period, marking an increase of about 30.9%[55]. Assets and Cash Flow - The Group's non-current assets totaled HK$1,763,286,000 as of September 30, 2022, compared to HK$1,778,759,000 as of March 31, 2022[24]. - Trade receivables amounted to HK$81,329,000, down from HK$89,251,000, indicating a decrease of 8.5%[21]. - Bank balances and cash decreased to HK$520,875,000 from HK$568,386,000, a decline of 8.4%[27]. - Cash and cash equivalents at the end of the period were HK$467,390,000, down from HK$515,549,000 at the beginning of the period, a decrease of about 9.3%[59]. - The Group's total current assets as of September 30, 2022, are HK$948,465,000, slightly up from HK$941,657,000 as of March 31, 2022[165]. Dividends and Shareholder Returns - The Company did not declare any interim dividend for the period[7]. - The company paid dividends of HK$53,646,000 during the period, compared to HK$26,823,000 in the previous year, reflecting an increase of approximately 100%[54]. Taxation and Losses - Hong Kong profits tax for the current period is HK$5,016,000, down from HK$6,794,000 in the previous period, reflecting a decrease of approximately 26.2%[142]. - The Group has unutilised tax losses of approximately HK$65,392,000 available for offsetting against future taxable profits, slightly down from HK$65,407,000 as of March 31, 2022[145]. Operational Overview - The company continues to engage in a wide range of financial services including securities broking, futures broking, and corporate finance advisory[1]. - The Group's operations are primarily located in Hong Kong, Macau, and the People's Republic of China, with administration conducted in Hong Kong[123]. - The Group's geographical revenue breakdown shows HK$43,182,000 from Hong Kong, HK$16,460,000 from Macau, and no revenue from the PRC for the six months ended 30th September 2022[126]. Lending Portfolio - The company reported a total of 5 corporate loans amounting to HK$256,229,000 with interest rates ranging from 12% to 18%[190]. - There were 46 mortgage loans issued, totaling HK$546,076,000, with terms from 6 months to 30 years and interest rates of P+ to 24%[190]. - The consumer finance segment provided loans to individuals, totaling an unspecified amount, with terms from 3 months to 8 years and interest rates between 5.5% and 18%[190]. - The company issued 2 small business loans amounting to HK$845,176,000, with terms of 2 to 4 years and interest rates ranging from 12% to 36%[190]. - The structured loans category included loans with terms of up to 4 years and 10 months, with guarantees and/or corporate guarantees involved[190]. - The total number of loans across all categories indicates a diverse lending portfolio, catering to both corporate and individual borrowers[190]. - The company emphasizes the importance of securities and guarantees in its lending practices, enhancing risk management[190]. - The interest rates offered reflect a competitive range, potentially attracting a variety of borrowers[190]. - The company is focused on expanding its loan offerings, particularly in the mortgage and consumer finance sectors[190]. - Future strategies may include further market expansion and the introduction of new financial products to meet customer needs[190].

Financial Performance - The Group recorded a profit of approximately HK$87.0 million for the year, an 88.0% increase compared to HK$46.2 million in the previous year[12]. - Revenue increased by approximately HK$8.0 million, representing a 6.5% increase from HK$119.0 million in the prior year[12]. - Earnings per share increased to HK$3.2 cents from HK$1.7 cents year-on-year[8]. - Profit before taxation increased significantly to HK$97,450,000, up 69.9% from HK$57,349,000 in the previous year[104]. - Profit for the year attributable to owners of the Company was HK$87,036,000, representing an increase of 88.2% compared to HK$46,227,000 in 2021[104]. Revenue Breakdown - The financing segment generated revenue of HK$84.6 million and operating results of HK$54.6 million during the year[12]. - The broking segment reported a revenue of HK$8.34 million, down from HK$11.379 million in the previous year[8]. - Corporate finance segment revenue increased to HK$3.176 million from HK$1.076 million year-on-year[8]. - The properties investment segment revenue was HK$28.757 million, slightly up from HK$27.075 million in the previous year[8]. - The brokerage segment's revenue decreased to approximately HK$8.3 million, down by approximately HK$3.1 million or 26.7% from HK$11.4 million in the prior year[24]. Assets and Liabilities - Total assets amounted to HK$3,292.975 million, a decrease from HK$3,468.281 million in the previous year[8]. - Net assets increased to HK$2,718.501 million from HK$2,655.793 million year-on-year[8]. - Total liabilities decreased to HK$574.474 million from HK$812.488 million in the previous year[8]. - The Group's borrowings decreased to approximately HK$234.6 million from HK$263.4 million as of March 31, 2021, resulting in a gearing ratio of approximately 8.6% compared to 9.9% in 2021[49]. Economic Outlook - The Group anticipates that the global and Hong Kong economic conditions will remain stable in the coming quarters of 2022, considering factors such as the US Fed's interest rate hike and ongoing geopolitical tensions[37]. - Despite economic headwinds, there is optimism for recovery in the global and Hong Kong economies, supported by ongoing vaccination efforts and government stimulus policies aimed at boosting consumption and industry growth[38]. - Mainland China's GDP grew by approximately 4.8% year-on-year in Q1 2022, with a 1.3% increase compared to the previous quarter, which is expected to contribute to Hong Kong's economic recovery[39]. Corporate Governance - The Group has established a Compliance and Risk Steering Committee and a Strategy Management Committee to enhance corporate governance and support future expansion[66]. - The Company is committed to maintaining high standards of corporate governance as evidenced by its independent non-executive directors[89]. - The Company has established an Audit Committee to review and supervise the financial reporting process and internal control system[184]. - The corporate governance principles and practices of the Company are detailed in the Corporate Governance Report, which spans pages 30 to 47 of the Annual Report[196]. Shareholder Information - The proposed final dividend is HK$2.0 cents per ordinary share, an increase from HK$1.0 cent per ordinary share in 2021, subject to shareholder approval[62]. - The Company has maintained directors' and officers' liability insurance throughout the year to cover legal actions against its directors and officers[133]. - The annual general meeting (AGM) is scheduled for August 26, 2022, with the notice to be published on the Company's and the Stock Exchange's websites[70]. Management and Team - Ms. Cheng Wai Ling, the Chief Executive Officer, oversees daily operations and holds a degree in Business Administration (Accounting and Finance) from the University of Hong Kong[83]. - The Company has a strong management team with members holding degrees from reputable institutions such as the University of Hong Kong and Monash University[89]. - The Company has a diverse board with members experienced in finance, construction, and corporate communications[91]. Environmental and Social Responsibility - The Group is committed to reducing its environmental impact and complying with environmental protection laws[135]. - Environmental policies and performance are discussed in the "Environmental, Social and Governance Report" from pages 48 to 77 of the annual report[101].

Financial Performance - For the six months ended September 30, 2021, the revenue was HK$70,582,000, an increase of 13.0% compared to HK$61,990,000 for the same period in 2020[12]. - Profit for the period was HK$47,211,000, representing a 20.3% increase from HK$39,219,000 in the previous year[12]. - Basic and diluted earnings per share increased to HK$1.76 from HK$1.46, reflecting a growth of 20.5%[12]. - Total comprehensive income attributable to owners of the Company was HK$48,268,000, compared to HK$40,634,000 in the prior year, marking a 18.5% increase[15]. - The profit before taxation for the period was HK$54,005,000, up from HK$45,229,000 in the previous year, representing a growth of 19.5%[71]. - The profit for the period increased to HK$47,211,000, compared to HK$39,219,000 in 2020, marking a rise of 20.8%[71]. - Profit attributable to owners of the Company for the period was approximately HK$47,234,000, up from HK$39,229,000 in 2020, representing a growth of 20.5%[125]. Revenue Breakdown - Commission and brokerage income from securities broking was HK$3,880,000, down 13.9% from HK$4,511,000 in the previous year[63]. - Rental income and interest income from margin clients totaled HK$62,462,000, up 14.1% from HK$54,599,000 in the prior year[63]. - The financing segment reported revenue of HK$47,857,000, a significant increase of 18.5% from HK$40,265,000 in 2020[71]. - Corporate finance revenue was HK$1,933,000, up from HK$740,000, reflecting a growth of 161.1%[71]. - Assets management revenue increased to HK$807,000 from HK$836,000, showing a slight decrease of 3.5%[71]. - Properties investment revenue remained stable at HK$14,623,000, compared to HK$14,432,000 in the previous year, indicating a growth of 1.3%[71]. - Precious metal trading reported a revenue of HK$206,000, up from HK$120,000, representing a growth of 71.7%[71]. Assets and Liabilities - The Group's non-current assets totaled HK$1,759,243,000 as of September 30, 2021, compared to HK$1,742,198,000 as of March 31, 2021[18]. - The total liabilities decreased to HK$553,700,000 from HK$812,488,000, indicating a reduction of approximately 32%[21]. - The Group's total liabilities as of September 30, 2021, were HK$250,391,000, compared to HK$278,906,000 as of March 31, 2021[112]. - The Group's borrowings as of September 30, 2021, included secured bank loans of HK$246,694,000, down from HK$258,629,000 as of March 31, 2021[190]. - The carrying amount of the Group's investment properties remained stable at approximately HK$1,394,100,000 as of both September 30, 2021, and March 31, 2021[198]. Cash Flow - Net cash generated from operating activities for the six months ended September 30, 2021, was HK$64,689,000, a decrease of 59.4% compared to HK$159,313,000 for the same period in 2020[24]. - The company reported a net cash used in investing activities of HK$36,000 for the six months ended September 30, 2021, compared to HK$14,000 in 2020[24]. - The cash and cash equivalents at the end of the period increased to HK$515,549,000 from HK$504,605,000, showing a growth of 2.0%[40]. - Cash at bank as of September 30, 2021, was HK$351,537,000, a decrease from HK$369,570,000 as of March 31, 2021[175]. - The Group's non-pledged short-term bank deposits amounted to HK$581,459,000 as of September 30, 2021, compared to HK$816,192,000 as of March 31, 2021[187]. Dividends - The interim dividend declared was nil, consistent with the previous year[12]. - The company paid dividends of HK$26,823,000, consistent with the previous period[35]. - The proposed dividend for the period was not applicable, as it was not declared[21]. Operational Segments - The Group is organized into seven reportable operating segments: broking, financing, corporate finance, assets management, properties investment, precious metal trading, and investment holding[65]. - The Group's financing segment includes securities margin financing and money lending, contributing significantly to overall revenue growth[66]. Taxation - Hong Kong profits tax provision for the period was HK$6,794,000, compared to HK$5,760,000 in 2020, reflecting an increase of 17.9%[129]. - The Group has unutilized tax losses of approximately HK$67,375,000 as of the reporting date, which can be carried forward indefinitely[131]. - The Group reported unutilised tax losses of approximately HK$67,375,000 as of 30th September 2021, a slight decrease from HK$69,284,000 as of 31st March 2021[133]. Strategic Outlook - The company has plans for market expansion and new product development to sustain growth in the upcoming periods[71].

Financial Performance - The Group recorded a profit of approximately HK$46.2 million for the year ended March 31, 2021, which is similar to the profit of approximately HK$46.4 million in the previous year[13]. - Revenue decreased by approximately 31.8% to HK$119.2 million compared to HK$174.8 million in the previous year[13]. - Profit before taxation for the Group was HK$57,349,000, down 7.4% from HK$62,273,000 in the previous year[99]. - The profit attributable to owners of the Company for the year was HK$46,227,000, a slight decrease of 3.2% from HK$47,738,000 in 2020[99]. - The Group's revenue for the year ended 31st March 2021 was HK$119,221,000, a decrease of 31.8% compared to HK$174,831,000 in 2020[99]. Assets and Liabilities - Total assets increased to HK$3,468.3 million from HK$3,238.2 million in the previous year[9]. - Total liabilities rose to HK$812.5 million from HK$605.1 million in the previous year[9]. - The net assets of the Group were HK$2,655,793,000, slightly up from HK$2,633,091,000 in 2020, indicating a growth of 0.9%[99]. - The total equity attributable to owners of the Company amounted to approximately HK$2,657.0 million as of March 31, 2021, compared to HK$2,634.3 million in 2020[46]. Segment Performance - The financing segment generated revenue of approximately HK$77.8 million and segment results of approximately HK$48.8 million during the year[14]. - The broking segment's revenue was approximately HK$11.4 million, reflecting an 18.8% increase from HK$9.6 million in the previous year, with segment profit rising to approximately HK$243,000[26]. - The financing segment's revenue decreased by approximately 17.8% to HK$77.8 million, while segment results increased by approximately 9.4% to HK$48.8 million[31]. - The properties investment segment recorded revenue of approximately HK$27.1 million, a decrease of approximately HK$37.5 million, with segment results dropping to approximately HK$23.8 million from HK$58.7 million[31]. Economic Environment - The Group's performance was impacted by high unemployment and low wage growth in Hong Kong, affecting private consumption and investment[15]. - The Hong Kong property market showed resilience amid the COVID-19 pandemic, stabilizing after previous declines[16]. - Private consumption spending in Hong Kong only increased by 1.6% year-on-year, primarily due to social-distancing measures[22]. - Hong Kong's economy expanded by 7.8% year-on-year in Q1 2021, following six consecutive quarters of decline[22]. Corporate Governance - The Company is committed to maintaining high standards of corporate governance through its board structure and committee functions[84]. - The Company has established an Audit Committee according to guidelines from the Hong Kong Institute of Certified Public Accountants[157]. - The Board comprises seven committees, including Audit, Remuneration, and Nomination Committees, to oversee various aspects of corporate governance[181]. - The Company has independent non-executive directors who contribute to the Audit, Remuneration, and Nomination Committees[76][78]. Management and Employees - The Group has 40 employees, with staff costs amounting to approximately HK$16.6 million, representing 13.9% of the Group's revenue for the financial year 2021[58]. - The Group continues to enhance employee capabilities through regular training to improve technical skills and industry knowledge[58]. - The Company emphasizes meritocracy in Board appointments, considering diversity as a key element in achieving strategic objectives[199]. Investment Strategy - The company plans to maintain a cautious approach to business strategies and seek new investment opportunities for long-term benefits to shareholders[37]. - The Group is committed to exploring other investment opportunities to enhance long-term economic benefits for shareholders[40]. - The Group's strategy includes regular reviews and timely adjustments to business strategies in response to complex investment environments[40]. Shareholder Information - The proposed final dividend is HK1.0 cent per ordinary share for the year ended March 31, 2021, unchanged from the previous year[58]. - The Company has maintained directors' and officers' liability insurance throughout the year to provide appropriate coverage against legal actions[118]. - The Company did not repurchase, sell, or redeem any of its listed securities during the year ended March 31, 2021[142]. Compliance and Risk Management - The Group practices a tight credit control policy overseen by a credit committee composed of two executive Directors[58]. - A Compliance and Risk Steering Committee and a Strategy Management Committee have been established to maintain good corporate governance[58]. - The independent non-executive Directors have reviewed and confirmed that connected transactions were conducted in the ordinary course of business and on normal commercial terms[146].

Revenue and Profit - Revenue for the six months ended September 30, 2020, was HK$61,990,000, a decrease of 20.5% compared to HK$78,119,000 for the same period in 2019[13] - Profit for the period was HK$39,219,000, down 7.0% from HK$42,161,000 in the previous year[13] - Earnings per share decreased to HK$0.0146 from HK$0.0161, reflecting a decline of 9.3%[13] - The net profit before taxation for the period was HK$45,229,000, compared to HK$50,445,000 in the previous year, reflecting a decrease of 10.4%[62] - The profit before taxation for the same period was HK$39,229,000, down from HK$43,059,000 in 2019, reflecting a decrease of approximately 6.4%[83] - Profit for the period decreased to 39,219 from 42,161, reflecting a decline of approximately 4.5%[63] Comprehensive Income - Total comprehensive income attributable to owners of the Company was HK$40,624,000, compared to HK$39,877,000 in the prior period, indicating an increase of 1.9%[17] - Other comprehensive income for the period was HK$1,405,000, compared to a loss of HK$2,284,000 in the previous year[15] Cash and Bank Balances - The Group's cash and bank balances increased to HK$620,736,000 from HK$480,212,000, representing a growth of 29.2%[20] - Cash and cash equivalents at the end of the period stood at HK$504,605,000, up from HK$362,093,000 in 2019, representing an increase of approximately 39.2%[27] - As of September 30, 2020, cash and cash equivalents amounted to HK$504,605,000, an increase of 30.5% from HK$386,934,000 as of March 31, 2020[123] - The Group's cash in hand increased to HK$82,000 from HK$3,000, showing a significant rise[123] Assets and Liabilities - Non-current assets remained stable at HK$1,642,000,000, unchanged from March 31, 2020[20] - The Group's total assets as of September 30, 2020, were HK$1,774,861,000, compared to HK$1,807,154,000 as of March 31, 2020, reflecting a decrease of 1.8%[20] - As of September 30, 2020, net current assets increased to HK$872,031,000 from HK$825,937,000 as of March 31, 2020, reflecting a growth of approximately 5.5%[22] - Total assets less current liabilities rose to HK$2,646,892,000, compared to HK$2,633,091,000 in the previous period, indicating a slight increase of about 0.5%[22] - The Group's investment properties had a fair value of approximately HK$1,642,000,000 as of 30th September 2020, down from HK$1,686,000,000 at the beginning of the period[95] - The Group's investment properties had a carrying amount of approximately HK$1,434,000,000 as of both September 30, 2020, and March 31, 2020, remaining stable[132] Receivables and Impairments - Trade receivables decreased to HK$89,325,000 from HK$122,105,000, a decline of 26.8%[20] - The total impairment loss on trade receivables was HK$192,075,000 as of September 30, 2020, slightly down from HK$192,096,000 as of March 31, 2020, indicating a negligible change[111] - Trade receivables classified as neither past due nor impaired amounted to HK$647,783,000 as of September 30, 2020, compared to HK$709,701,000 as of March 31, 2020, a decrease of approximately 8.7%[114] - Receivables that were past due over one year increased to HK$146,220,000 as of September 30, 2020, from HK$116,728,000 as of March 31, 2020, representing an increase of about 25.3%[114] - The company assessed that no further impairment loss is necessary for receivables as there has not been a significant change in credit quality, indicating stability in the receivables portfolio[111] Dividends and Equity - The Group did not declare an interim dividend for the period, consistent with the previous year[13] - The total equity attributable to owners of the company increased to HK$2,648,075,000 as of September 30, 2020, compared to HK$2,634,264,000 at the end of March 2020, marking a growth of approximately 0.5%[30] - The company’s reserves grew to HK$2,621,251,000 from HK$2,580,617,000, indicating an increase of about 1.6%[22] - The company paid dividends of HK$26,823,000 in the previous period, down from HK$53,646,000 in 2019, reflecting a reduction of about 50%[28] Segment Performance - Commission and brokerage income from securities broking was HK$4,511,000, down 11.7% from HK$5,108,000 in 2019[48] - Financing segment revenue decreased to HK$40,265,000 from HK$44,257,000, representing a decline of 9.0% year-over-year[59] - Corporate finance revenue dropped significantly to HK$740,000 from HK$3,700,000, a decrease of 80%[59] - Property investment revenue fell to HK$14,432,000 from HK$22,691,000, a decline of 36.5%[59] - The segment revenue for broking was approximately HK$5.6 million, representing a decrease of HK$0.6 million or 10.2%[187] - The corporate finance segment revenue was approximately HK$0.7 million, with profit also at approximately HK$0.7 million during the half-year period[190] - The precious metal trading segment recorded a loss of approximately HK$277,000, similar to the loss in the preceding financial period[194] Operating Expenses - The administrative and operating expenses amounted to approximately HK$12.8 million, accounting for approximately 20.7% of the Group's revenue[196] - Administrative and operating expenses for the fiscal period reached approximately HKD 12.8 million, accounting for about 20.7% of the group's revenue[199] Financing Activities - The company reported a net cash generated from operating activities of HK$159,313,000 for the six months ended September 30, 2020, a significant recovery from a cash outflow of HK$184,842,000 in the same period of 2019[25] - The company reported a net cash used in financing activities of HK$41,628,000, a significant decrease from a net cash generated of HK$237,848,000 in the previous period[27] - Borrowings decreased slightly to HK$275,863,000 from HK$283,655,000, showing a reduction of about 2.7%[22] - The current portion of secured bank borrowings was HK$270,340,000, a decrease of 3.1% from HK$281,204,000 as of March 31, 2020[125] - The total borrowings as of September 30, 2020, were HK$275,863,000, down from HK$283,655,000 as of March 31, 2020, indicating a reduction of 2.7%[125] Taxation - Income tax expenses for the period were HK$6,010,000, down from HK$8,284,000 in 2019[62] - The Hong Kong profits tax provision for the period was HK$5,760,000, a decrease of 30.5% from HK$8,284,000 in 2019[87] - The Group has unutilised tax losses of approximately HK$33,543,000 available for offsetting against future taxable profits, down from HK$68,805,000 as of 31st March 2020[91] Market Performance - The average daily turnover for the first nine months of 2020 was HK$125.7 billion, an increase of approximately 38.9% compared to HK$90.5 billion for the same period last year[182] - The Hang Seng Index recorded at 23,275 points on the last trading date in September 2020, having moved within the range of 24,000 to 26,000 points during the third quarter[181]

Financial Performance - The Group recorded a profit of approximately HK$46.4 million for the year ended March 31, 2020, which is approximately 82.3% lower than the HK$262.5 million recorded in the previous year[12]. - The decrease in profit was primarily due to a net decrease in fair value of approximately HK$44.0 million recognized by investment properties, compared to a net increase of approximately HK$175.0 million in the previous year[12]. - Excluding the effect of the change in net fair value of investment properties, the Group's profit for the year was approximately HK$90.4 million, representing a slight increase of approximately 3.3% compared to HK$87.5 million recorded last year[12]. - Total revenue for the year was HK$174.8 million, down from HK$191.6 million in the previous year, reflecting a decrease of approximately 8.8%[8]. - Earnings per share decreased to HK$1.8 cents from HK$9.5 cents in the previous year, representing a decline of approximately 81.1%[8]. - Profit before taxation for the year was HK$62.3 million, down 78.6% from HK$290.6 million in the previous year[93]. - Profit attributable to owners of the Company was HK$47.7 million, a decline of 81.3% compared to HK$254.6 million in 2019[93]. Revenue Breakdown - The corporate finance segment generated additional income from placing and underwriting activities, benefiting other segments such as broking and financing[13]. - The broking segment revenue increased to HK$9.6 million from HK$8.1 million, an increase of approximately 18.0%[8]. - The financing segment generated revenue of approximately HK$94.6 million, representing an increase of approximately HK$21.5 million or 29.4% compared to the previous year, with segment results amounting to HK$76.3 million, an increase of approximately 17.9%[22]. - The corporate finance segment contributed revenue and results of approximately HK$3.7 million each, primarily due to increased commission income from corporate finance services[26]. - The asset management segment recorded revenue of approximately HK$2.1 million and results of approximately HK$0.4 million, consistent with market conditions[27]. - The properties investment segment reported revenue of approximately HK$64.6 million, a decrease of approximately HK$41.9 million, with segment results of approximately HK$58.7 million, down by approximately HK$41.6 million compared to the previous year[30]. Assets and Liabilities - Total assets increased to HK$3,238.2 million from HK$2,903.6 million, marking an increase of approximately 11.5%[8]. - Net assets decreased slightly to HK$2,633.1 million from HK$2,642.9 million, a decrease of approximately 0.4%[8]. - Total liabilities increased significantly to HK$605.1 million from HK$260.8 million, reflecting an increase of approximately 132.5%[8]. - The Group's bank balance and cash amounted to approximately HK$480.2 million as of March 31, 2020, an increase from HK$371.1 million in 2019[46]. - The Group's borrowings increased significantly to approximately HK$283.7 million from HK$2.8 million as of March 31, 2019, resulting in a gearing ratio of approximately 10.8%[46]. Market Conditions - The COVID-19 pandemic significantly impacted market conditions, leading to a drastic reduction in consumer spending and investment activities[15]. - The average daily turnover of the Hang Seng Index for the period from April 2019 to March 2020 was approximately HK$279.3 billion, an increase of approximately 0.5% compared to HK$277.9 billion in the previous year[22]. - The Group anticipates a slow economic recovery starting in the second half of 2020, contingent on the stabilization of the political environment in Hong Kong[38]. Corporate Governance - The Company has established seven board committees, including the Audit Committee, Remuneration Committee, Nomination Committee, Credit Committee, Executive Committee, Supervisory and Risk Management Committee, and Strategic Management Committee[183]. - The Board comprises seven committees, including Audit, Remuneration, and Nomination Committees, which perform distinct roles according to their terms of reference[179]. - The Company has adopted the Model Code for Securities Transactions by Directors, with all Directors confirming compliance throughout the year[161]. - The Company has taken sufficient measures to ensure that its corporate governance practices are no less exacting than those in the Corporate Governance Code[172]. - The independent non-executive Directors confirmed that connected transactions were conducted in the ordinary course of business and on normal commercial terms[144]. Employee and Operational Insights - The Group's staff costs for the year ended March 31, 2020, amounted to approximately HK$15.3 million, representing 8.8% of the Group's revenue, down from 8.1% in 2019[55]. - The Company values the knowledge and skills of its employees and provides favorable career development opportunities[116]. - The Group continues to enhance workforce capabilities through regular training to improve technical skills and industry knowledge[55]. - The Company had 39 employees as of March 31, 2020, a decrease from 43 employees in 2019[55]. Shareholder Information - The Board proposed a final dividend of HK1.0 cent per ordinary share for the year ended March 31, 2020, down from HK2.0 cents per share in 2019[55]. - The Company recommended a final dividend of HK1.0 cent per ordinary share for the year[93]. - The Group's five largest clients accounted for approximately 33% of total revenue, an increase from 24% in 2019[100]. - As of March 31, 2020, CCAA Group Limited holds 1,992,721,496 shares, representing approximately 74.29% of the issued share capital of the Company[131]. Future Outlook - The Group aims to seek other investment opportunities to contribute to long-term economic benefits for shareholders amid a complicated investment environment[39]. - The Company continues to explore opportunities for growth in the financial services sector, aiming for sustainable development[86]. - The Group is committed to environmental protection and compliance with relevant laws and regulations[114].

Financial Performance - Revenue for the six months ended September 30, 2019, was HK$ 78,119,000, a decrease from HK$ 108,217,000 in the same period of 2018, representing a decline of approximately 27.8%[6] - Profit for the period was HK$ 42,161,000, down from HK$ 74,392,000 in 2018, indicating a decrease of about 43.3%[6] - Basic and diluted earnings per share were HK$ 1.61, compared to HK$ 2.45 in the previous year, reflecting a decline of approximately 34.3%[9] - Total comprehensive income for the period was HK$ 39,877,000, down from HK$ 70,145,000 in 2018, a decrease of around 43.1%[11] - For the six months ended September 30, 2019, the profit before taxation was HK$ 50,445,000, a decrease from HK$ 84,806,000 in the same period of 2018, representing a decline of 40.5%[86] Revenue Breakdown - Commission and brokerage income from securities broking increased to HK$ 5,108,000 from HK$ 3,455,000, reflecting a growth of approximately 47.7%[80] - Rental income for the period was HK$ 15,928,000, compared to HK$ 15,011,000 in the previous year, indicating an increase of about 6.1%[80] - Interest income from margin clients and money lending decreased to HK$ 3,597,000 from HK$ 6,055,000, a decline of approximately 40.5%[80] - The Group's income from precious metals trading was HK$ 6,763,000, a significant decrease from HK$ 42,605,000 in the previous year[80] - The Group's property investment segment reported a revenue of HK$ 22,691,000 in 2019, a significant decrease from HK$ 57,616,000 in 2018, representing a decline of 60.7%[86] Expenses and Costs - Administrative and other operating expenses were HK$ 13,766,000, a reduction from HK$ 17,560,000 in the previous year, showing a decrease of about 21.5%[6] - Finance costs increased to HK$ 4,220,000 from HK$ 72,000, a significant rise indicating a change in financial strategy or market conditions[6] - Dividend paid during the period was HK$ 53,646, a decrease from HK$ 96,564 in the same period of the previous year, reflecting a reduction of approximately 44.5%[22] - The income tax expenses for the period were HK$ 8,284,000, compared to HK$ 10,414,000 in the same period of 2018, reflecting a decrease of 20.5%[86] Assets and Liabilities - Cash and bank balances rose to HK$ 446,964,000 from HK$ 371,127,000, reflecting improved liquidity[15] - As of September 30, 2019, net current assets increased to HK$1,069,254, up from HK$809,846 as of March 31, 2019, representing a growth of approximately 32.1%[17] - Total liabilities increased to HK$2,899,866 as of September 30, 2019, compared to HK$2,642,866 as of March 31, 2019, reflecting an increase of about 9.7%[17] - The Group's total non-current assets as of September 30, 2019, were HK$1,724,687,000, slightly down from HK$1,728,370,000 as of March 31, 2019[93] Cash Flow - The company reported a net cash used in operating activities of HK$184,842 for the six months ended September 30, 2019, compared to HK$110,029 for the same period in 2018, indicating a decline in cash flow from operations[20] - Cash and cash equivalents at the end of the period were HK$362,093, an increase from HK$307,551 at the end of the same period in 2018, marking a growth of approximately 17.7%[23] - The company raised new bank loans amounting to HK$300,000 during the period, contributing to a net cash generated from financing activities of HK$237,848[22] Shareholder Information - The company did not declare any interim dividend for the period, consistent with the previous year[9] - Total equity attributable to owners of the company decreased to HK$2,629,831 as of September 30, 2019, down from HK$2,642,702 as of March 31, 2019, indicating a decline of about 0.5%[17] Market Conditions - The Hong Kong stock market faced significant challenges, with the Hang Seng Index dropping by 11.9% from 29,008 points on 4th July 2019 to 25,552 points on 15th August 2019[195] - The protests in Hong Kong led to a significant decline in visitor arrivals, resulting in the largest monthly decline in retail sales on record[192] - The turnover value of the Hong Kong stock market decreased from approximately HK$5,790,267 million in Q3 2018 to approximately HK$5,005,599 million in 2019, a decline of about 13.6%[196] Accounting Policies - The unaudited condensed consolidated interim financial statements are prepared in accordance with Hong Kong Financial Reporting Standards for the six months ended September 30, 2019[30] - The Group has applied HKFRS 16 for the first time, which supersedes HKAS 17 Leases, impacting the accounting policies related to leases[40] - The application of new and amended HKFRSs has had no material impact on the Group's financial position and performance for the current and prior years[37]