Financial Performance - Total revenue for the six months ended June 30, 2022, was HKD 35,706,000, a decrease of 36% compared to HKD 55,772,000 in the same period of 2021[5] - Interest income decreased to HKD 8,092,000, down 46% from HKD 15,019,000 year-on-year[5] - The company reported a loss before tax of HKD 35,004,000, compared to a loss of HKD 19,029,000 in the previous year, representing an increase in loss of 84%[5] - Basic and diluted loss per share was HKD 13.40, compared to HKD 7.69 in the same period last year[8] - The company reported a total loss before tax of HKD 35,004,000 for the six months ended June 30, 2022, compared to a loss of HKD 19,029,000 in the same period of 2021[44] - The company reported a net loss of approximately HKD 35 million for the six months ended June 30, 2022, compared to a net loss of approximately HKD 19 million in the same period last year[83] - The net loss for the period was HKD 35.0 million, representing an increase of 84.2% from a net loss of HKD 19.0 million in the previous year[97] Assets and Liabilities - Non-current assets decreased to HKD 71,683,000 from HKD 76,181,000 as of December 31, 2021[11] - Current assets decreased to HKD 1,163,689,000 from HKD 1,219,396,000 at the end of 2021[11] - Total liabilities increased to HKD 850,636,000 from HKD 814,301,000 year-on-year[14] - Net current assets decreased to HKD 313,053,000 from HKD 405,095,000 as of December 31, 2021[14] - The company’s total equity decreased to HKD 378,048,000 from HKD 412,368,000 year-on-year[14] - Total assets decreased by 39.4% to HKD 1,235.4 million from HKD 2,038.4 million year-on-year[97] Cash Flow - The net cash inflow from operating activities for the six months ended June 30, 2022, was HKD 79,134,000, compared to a net outflow of HKD 719,773,000 in the same period of 2021[20] - The total net cash increase for the period was HKD 98,674,000, up from HKD 33,959,000 in the previous year[20] - The cash and cash equivalents at the end of the period increased to HKD 302,254,000 from HKD 242,818,000 at the end of the previous year[20] - The company's cash and bank balances increased slightly to HKD 909.4 million as of June 30, 2022, from HKD 864.6 million as of December 31, 2021[84] Revenue Segments - Revenue from financial services for the six months ended June 30, 2022, was HKD 35,705,000, with a segment loss of HKD 30,414,000[36] - Brokerage income decreased by approximately 45.7% or HKD 11.8 million, reflecting a significant decline in the average daily trading volume in the Hong Kong securities market, which fell by 26.5%[80] - Wealth management service revenue increased by 33.8% or HKD 2.5 million to approximately HKD 9.9 million, driven by increased demand for wealth management products and services[80] - Non-brokerage and non-wealth management service revenue decreased by approximately 51.3% or HKD 3.9 million, primarily due to a 75.8% decline in asset management revenue[81] Operational Efficiency and Strategy - The company plans to focus on enhancing operational efficiency and exploring new market opportunities in the upcoming periods[5] - The company continues to implement cost rationalization measures, resulting in a 20.7% reduction in other operating expenses[83] - The company has tightened its credit policy in response to the global economic downturn and rising interest rates[102] - The company is focused on maintaining a strong financial position to navigate the current global economic challenges[105] Employee and Corporate Governance - Employee compensation totaled HKD 25.7 million as of June 30, 2022, with 135 employees hired by the company[109] - The company has adhered to the corporate governance code but deviated from the guideline that the roles of Chairman and CEO should be separated, with Dr. Kwan holding both positions[131] Stock Options and Shareholder Information - The company granted stock options under its stock option plan, with a total of 49,667,477 shares available for issuance, representing approximately 19.02% of the issued shares[126] - The stock options vest in multiple tranches, with 25% vesting from May 1, 2019, to April 30, 2020, and 50% vesting from May 1, 2021, to April 30, 2022[120] - Major shareholders include Hobart Assets Limited, Cash Guardian Limited, and others, each holding 102,928,854 shares, representing 39.41% ownership[128] Future Outlook - The company anticipates a challenging market outlook due to rising import inflation and interest rates, which may dampen investor sentiment and trading volumes[106] - The introduction of new listing regulations for technology companies and opportunities in cross-border capital markets is expected to lead to a resurgence in market sentiment with large IPOs[105] - The company has no significant future investment or asset acquisition plans[95]

Financial Performance - The company reported a comprehensive income of HKD 150 million for the year 2021, representing a 10% increase compared to the previous year[4]. - Revenue from corporate financing services increased by 30%, contributing significantly to the overall financial performance[4]. - The company recorded revenue of HKD 96.9 million for the year ending December 31, 2021, a decrease of 6.6% compared to HKD 103.7 million in 2020[20]. - The group's total revenue for 2021 was HKD 96.9 million, a decrease of 6.5% from HKD 103.7 million in 2020[28]. - The company experienced a net loss of HKD 53.5 million for the year, compared to a net loss of HKD 39.1 million in the previous year[22]. - The net loss for 2021 was HKD 53.5 million, representing a 36.8% increase compared to a net loss of HKD 39.1 million in 2020[29]. - The company's asset management business saw a growth of 62.2% despite the decline in the Hong Kong stock market[21]. - Wealth management business grew by 116.0% due to a strategic shift towards diversified investment and wealth management expertise[21]. User Growth and Client Engagement - User data showed a 25% growth in active clients, reaching a total of 50,000 clients by the end of 2021[6]. - The average annual brokerage fee income per active client decreased by 7.3% to HKD 3.8 thousand in 2021 from HKD 4.1 thousand in 2020[29]. - The company aims to expand its client base through IPO subscription and margin financing, capitalizing on the ongoing demand for IPO brokerage services[40]. Strategic Initiatives and Future Plans - The company plans to expand its wealth management centers in the Greater Bay Area and Yangtze River Delta, aiming to establish at least 5 new centers by 2023[8]. - The company is exploring strategic alliances and potential acquisitions to enhance its service offerings in the region[8]. - The company plans to hire over 200 frontline wealth management professionals in the Greater Bay Area by the end of 2022 to enhance service quality[35]. - The company expects to launch its first public fund and private fund in the second half of 2022, which is projected to increase managed assets and contribute positively to the group in 2023[41]. - The company plans to open a new wealth management center in the New Territories in the second half of 2022 to cater to the Greater Bay Area clients[40]. Technology and Innovation - A new version of the Alpha i trading app was launched in 2021, enhancing user experience with advanced data analytics and AI technology[9]. - The company upgraded its online trading platform and launched a new trading app "Alpha i 2.0" to cater to tech-savvy millennials[17]. - The company aims to enhance its online trading platform and mobile trading app functionalities to improve user experience and attract more investors[40]. - The upgraded trading application "Alpha i 2.0" was launched in December 2021, providing seamless real-time market data for US stocks and dark pool markets[36]. Market Conditions and Economic Outlook - The Hong Kong stock market saw a decline, with the Hang Seng Index closing at 23,398 points, down 14.08% from the previous year[21]. - The unemployment rate in Hong Kong decreased from a peak of 7.2% in December 2020 to 3.9% in October-December 2021, with expectations for further decline as economic activity continues to recover[31]. - The company anticipates a gradual recovery of the economy in mainland China and Hong Kong, supported by further monetary and fiscal measures from policymakers[38]. Risk Management and Governance - The company has established a nomination committee to enhance corporate governance, ensuring compliance with the corporate governance code[71]. - The board consists of seven directors, including four executive directors and three independent non-executive directors, ensuring a balanced distribution of power and authority[73]. - The company has a strong focus on risk management and operational efficiency in asset management, with over 20 years of experience in the securities industry[67]. - The company has established a comprehensive anti-money laundering (AML) policy and procedures to ensure compliance with regulatory requirements[125]. - The board has confirmed that the risk management and internal control systems are established and operating effectively as of December 31, 2021[130]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report outlines the group's initiatives and performance in sustainability, covering activities up to December 31, 2021[146]. - The total greenhouse gas emissions for the reporting period were 130.68 tons of CO2 equivalent, a decrease from 179.11 tons in the previous year, representing a reduction of approximately 27.0%[160]. - The company received multiple awards for its environmental efforts, including the "Hong Kong Environmental Excellence Award" and "Waste Reduction Certificate" at the excellence level[156]. - The company has established a committee to oversee environmental, social, and governance matters, ensuring compliance with relevant laws and regulations[149]. Employee Engagement and Development - The total employee compensation for the year was HKD 58.5 million, with 130 employees as of December 31, 2021[44]. - The employee turnover rate for 2021 is approximately 54.48%, significantly higher than the 37.11% turnover rate in 2020, primarily due to operational restructuring[186]. - The group achieved a total of 1,510 training hours during the reporting period[196]. - The company has implemented various training policies and courses to enhance employee skills and overall competitiveness[195]. - The company emphasizes a family-friendly work environment and has established various employee support programs[190].

Financial Performance - Total revenue for the six months ended June 30, 2021, was HKD 55,772,000, an increase of 10.5% compared to HKD 50,502,000 in the same period of 2020[7] - Interest income rose to HKD 15,019,000, up 26.4% from HKD 11,844,000 year-on-year[7] - The company reported a loss before tax of HKD 19,029,000, a significant improvement from a loss of HKD 28,124,000 in the previous year[7] - Basic and diluted loss per share improved to HKD 7.69 from HKD 11.35 in the prior year[10] - The total comprehensive income for the six months ended June 30, 2021, was HKD 444,787,000, compared to HKD 475,674,000 for the same period in 2020, reflecting a decrease of approximately 6.5%[22] - The net loss for the six months ended June 30, 2021, was HKD 19,000,000, an improvement from a net loss of HKD 28,100,000 in the previous year[87] - The group recorded a net loss of HKD 19.0 million for the six months ended June 30, 2021, an improvement of 32.4% compared to a net loss of HKD 28.1 million in the same period of 2020[102] Assets and Liabilities - Non-current assets decreased to HKD 77,553,000 from HKD 85,578,000 as of December 31, 2020[13] - Current assets increased significantly to HKD 1,960,892,000 from HKD 1,382,890,000 at the end of 2020, driven by a rise in accounts receivable[13] - Total liabilities increased to HKD 1,587,384,000 from HKD 1,004,135,000, primarily due to a rise in bank borrowings[16] - The company’s net assets decreased to HKD 444,787,000 from HKD 453,880,000[16] - The total assets as of June 30, 2021, amounted to HKD 1,000,000,000, compared to HKD 950,000,000 as of June 30, 2020, showing an increase of approximately 5.3%[22] - The company’s total liabilities as of June 30, 2021, were HKD 555,000,000, compared to HKD 500,000,000 as of June 30, 2020, reflecting an increase of approximately 11%[22] - The group’s cash and bank balances decreased from HKD 966.2 million to HKD 891.1 million, attributed to a reduction in client trading volume[88] - The current ratio decreased from 1.38 times to 1.24 times, while the debt-to-equity ratio increased from 24.4% to 193.4% due to increased bank borrowings[89] Revenue Streams - The wealth management services revenue increased to HKD 7,370,000 in the first half of 2021, up from HKD 3,150,000 in the same period of 2020, representing a growth of approximately 134.5%[36] - Brokerage commission income decreased by 11.3% due to reduced trading activity among retail clients amid market volatility[85] - Brokerage income decreased by 11.3% to HKD 25.8 million, while wealth management income increased by 131.3% to HKD 7.4 million[101] Operational Highlights - The company plans to focus on market expansion and new product development in the upcoming quarters[5] - The company continues to control operating costs through staff streamlining and organizational structure reviews[85] - The company incurred operational expenses of HKD 19,102,000, a decrease from HKD 21,367,000 in the previous year[48] - The company’s advertising and promotional expenses rose to HKD 1,470,000 from HKD 1,213,000 in the previous year[48] Shareholder Information - As of June 30, 2021, the company had a total of 97,960,854 shares outstanding, with the largest shareholder holding 38.45% of the shares[122] - The company granted stock options under its stock option plan, with a total of 18,552,000 options exercised at an exercise price of HKD 0.48[133] - The total number of stock options outstanding as of June 30, 2021, was 13,602,000[133] - The company reported a total of 97,960,854 shares held by major shareholders, representing 37.50% of the total shareholding[139] Corporate Governance - The company has complied with the corporate governance code as per the listing rules, except for the establishment of a nomination committee[142] - All directors confirmed compliance with the trading code during the review period[143] - The chairman and CEO of the company, Dr. Kwan, holds dual roles, which is deemed important for effective leadership and decision-making[142] Market Outlook - The group anticipates a strong IPO activity throughout the year, particularly in the new economy sector, due to the recovery from the pandemic[107] - The group is optimistic about the economic recovery in Hong Kong and expects local activities and cross-border flows to normalize in the short term[111]

Financial Performance - The group's revenue for the year ended December 31, 2020, was HKD 103.7 million, a decrease of 3.5% from HKD 107.5 million in 2019[21]. - Wealth management business revenue increased by 141.9% despite the pandemic and border closures, highlighting a shift in client interest towards wealth management products[22]. - The group recorded a net loss of HKD 39.1 million for the year, an improvement from a net loss of HKD 116.9 million in the previous year[23]. - Total equity as of December 31, 2020, was HKD 453.9 million, down from HKD 503.8 million as of December 31, 2019, primarily due to reported losses and fair value losses on financial assets[24]. - Total revenue for 2020 was HKD 103.7 million, a decrease from HKD 107.5 million in 2019, with brokerage income down 16.4% and wealth management income up 141.9%[36]. - The net loss for 2020 was HKD 39.1 million, significantly improved from a loss of HKD 116.9 million in 2019[36]. - As of December 31, 2020, the group's cash and bank balances increased slightly to HKD 966.2 million from HKD 957.9 million as of December 31, 2019[26]. - The group's current ratio decreased to 1.38 from 1.41 year-on-year, while the capital debt ratio improved to 24.4% from 29.7% due to a reduction in bank borrowings[26]. Strategic Initiatives - The company is transitioning from a rate-driven brokerage model to a value-added wealth management expert[17]. - The company aims to become a leader in comprehensive wealth management consulting[17]. - The company has established new wealth management centers in Guangzhou and Dongguan, with plans for further expansion in the Greater Bay Area and Yangtze River Delta[10]. - The group plans to launch a new cross-border wealth management program within the year, allowing residents of the Greater Bay Area to invest in financial products in Hong Kong and vice versa[18]. - The group aims to deepen its customer and partner network in the Greater Bay Area, anticipating significant growth in its customer base[19]. - The company has restructured its operations and introduced new wealth management products to enhance support for frontline sales[18]. - The company is focused on continuous quality improvement (CQI) to enhance adaptability, productivity, and employee morale through process automation[45]. - The company is committed to digital transformation and automation to enhance customer experience and operational efficiency, leveraging its strong internal fintech team[45]. Technology and Innovation - The company has been focusing on FinTech development, enhancing operational efficiency and customer satisfaction through innovative technology[11]. - The company has launched the Alpha i mobile trading application, utilizing big data and AI technologies[11]. - The group aims to enhance operational efficiency by expanding its fintech platform and establishing a new middle office to support its sales team[40]. - The company is investing in new technology development, allocating approximately $10 million towards fintech innovations in the upcoming year[75]. - The company has introduced a new online sales management system to enhance real-time communication with customers, improving customer satisfaction and engagement[41]. Cost Management - The company successfully reduced overall operating costs by 27.6% during the year[17]. - The group has successfully controlled operating costs through staff streamlining and relocating its headquarters, significantly reducing rental expenses[23]. - The company has implemented cost-cutting measures that are expected to save $JJ million annually, improving overall profitability[55]. - The company achieved a 10% reduction in operational costs through efficiency improvements in logistics and administration[80]. Governance and Compliance - The board of directors is responsible for leading and monitoring the group, making strategic decisions, and overseeing financial and management performance[85]. - The company has established a risk management and internal control system, which was reviewed for effectiveness during the year[101]. - The audit committee consists of three independent non-executive directors, ensuring oversight and compliance with financial regulations[99]. - The company has a policy for determining director remuneration based on internal and external market conditions, which is subject to regular review[108]. - The board has confirmed compliance with the securities trading code throughout the year[125]. Environmental and Social Responsibility - The company received the "Service and Trade Industry Excellence Award" from the Hong Kong Environmental Excellence Awards in 2019, recognizing its commitment to environmental management[158]. - The company actively seeks opportunities to save energy, utilize resources efficiently, and reduce waste as part of its "Green Vision" initiative[157]. - The company has complied with the "comply or explain" provisions of the environmental, social, and governance guidelines during the reporting period[156]. - The company has been recognized with various environmental certifications, including the Hong Kong Green Organization Certification[158]. - The company promotes a family-friendly work environment, offering benefits such as family leave and health seminars[20]. Future Outlook - The company maintains a cautious optimism regarding future growth, particularly with the anticipated reopening of cross-border travel and business activities[19]. - The company anticipates an increase in IPO financing demand, driven by strong growth in new listings and the trend of Chinese companies seeking secondary listings in Hong Kong[44]. - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[71]. - The company plans to launch three new products in the next quarter, anticipating a combined revenue of $3 million from these launches[82].

Financial Performance - Total revenue for the six months ended June 30, 2020, was HKD 50,502,000, a decrease of 15.6% compared to HKD 59,957,000 in the same period of 2019[4] - The company reported a loss before tax of HKD 28,124,000, compared to a loss of HKD 27,018,000 in the previous year, indicating a slight deterioration in performance[4] - The company reported a net loss of HKD 28,124,000 for the six months ended June 30, 2020, compared to a loss of HKD 27,018,000 in the same period of 2019[12] - Total comprehensive expenses for the period amounted to HKD 28,124,000, reflecting a significant increase from the previous year's total of HKD 27,679,000[12] - The company reported a basic and diluted loss per share of HKD 28,124,000 for the six months ended June 30, 2020, compared to HKD 27,018,000 for the same period in 2019[36] - The net loss for the six months ended June 30, 2020, was HKD 28,100,000, compared to a net loss of HKD 27,000,000 in the same period last year[66] Revenue Breakdown - Total revenue for the six months ended June 30, 2020, was HKD 38,658,000, down 23.1% from HKD 50,278,000 in the same period of 2019[23] - Brokerage services generated revenue of HKD 29,123,000, a decline of 20.7% from HKD 36,640,000 in the prior year[23] - Investment banking services revenue decreased by 52.2% to HKD 3,601,000 from HKD 7,536,000 year-on-year[23] - The company noted a 20.5% decrease in brokerage commission income compared to the previous year due to a conservative approach from retail investors amid market volatility[65] Assets and Liabilities - Non-current assets decreased from HKD 116,400,000 as of December 31, 2019, to HKD 97,665,000 as of June 30, 2020[8] - Current assets increased slightly from HKD 1,387,207,000 to HKD 1,378,433,000 during the same period[8] - Total liabilities decreased from HKD 980,493,000 to HKD 986,461,000, indicating a stable liability position[11] - The company's net assets decreased from HKD 503,798,000 to HKD 475,674,000, reflecting a decline in overall equity[11] - The total equity as of June 30, 2020, was HKD 475,700,000, down from HKD 503,800,000 as of December 31, 2019, primarily due to reported losses during the period[68] Cash Flow and Expenses - Cash and cash equivalents decreased by HKD 40,159,000, ending the period at HKD 248,033,000, compared to HKD 139,061,000 at the end of the previous year[15] - The company reported a net cash outflow from operating activities of HKD 49,780,000, compared to HKD 210,265,000 in the previous year[15] - The company’s total operating expenses decreased to HKD 21,367,000 for the six months ended June 30, 2020, from HKD 30,806,000 in the same period of 2019, reflecting a reduction of approximately 30%[32] - The company reported a significant decrease in advertising and promotional expenses, which fell to HKD 1,213,000 in 2020 from HKD 2,130,000 in 2019[32] Strategic Focus and Future Plans - The company continues to focus on its core business segments, including brokerage, investment banking, and asset management services[24] - The management has indicated that the financial performance is under review, with potential strategies for market expansion and new product development being considered[28] - The company is focusing on wealth management services, launching various one-stop service products for clients in Hong Kong and mainland China, particularly in the Greater Bay Area and Yangtze River Delta regions[65] - The company plans to enhance its investment banking capabilities and adjust team composition despite the current market challenges[88] - The company aims to implement a digitalization plan within the next two years to improve operational efficiency and customer engagement[91] Stock Options and Corporate Governance - The company granted stock options under the new stock option plan, with a total of 566,400,000 options available, of which 70,500,000 were forfeited during the period[110] - The exercise price for options granted on April 29, 2020, is set at HKD 0.024, with a total of 247,500,000 options available[110] - The company reported that no stock options were exercised or canceled during the period[107] - The company has adhered to the corporate governance code as per the listing rules, with no significant deviations reported[120] - The board of directors is responsible for reviewing the structure and composition of the board to ensure it meets the company's business needs[120]

Financial Performance - Total revenue for the six months ended June 30, 2019, was HKD 61,525, a decrease of 17% compared to HKD 74,931 for the same period in 2018[5] - The company reported a loss before tax of HKD 27,018, significantly improved from a loss of HKD 52,182 in the previous year, indicating a reduction in losses by approximately 48%[5] - Basic and diluted loss per share for the period was HKD 0.6, compared to HKD 1.1 for the same period in 2018, reflecting a 45% improvement[5] - The total segment loss for the six months ended June 30, 2019, was HKD 34,842,000, a significant improvement from a loss of HKD 52,182,000 in the previous year, indicating a reduction of approximately 33.2%[54] - Net loss for the first half of 2019 was HKD 27.0 million, an improvement of 48.3% compared to a net loss of HKD 52.2 million in 2018[96] Revenue Breakdown - The total revenue for the six months ended June 30, 2019, was HKD 57,981,000, a decrease from HKD 72,156,000 in the same period of 2018, representing a decline of approximately 19.7%[44] - Brokerage services generated revenue of HKD 44,497,000, down from HKD 51,677,000 in 2018, reflecting a decrease of about 13.5%[44] - Investment banking services revenue decreased to HKD 2,608,000 from HKD 4,580,000, a decline of approximately 43%[44] - Wealth management services revenue was HKD 5,775,000 in 2018, with no reported revenue for 2019, indicating a significant drop[44] - The total interest income for the six months ended June 30, 2019, was HKD 3,544,000, an increase from HKD 2,775,000 in 2018, representing a growth of approximately 27.7%[44] Assets and Liabilities - Total assets decreased to HKD 1,553,264 as of June 30, 2019, down from HKD 1,680,992 at the end of 2018, representing a decline of approximately 8%[8] - Accounts receivable increased to HKD 347,358, up 22.6% from HKD 283,404 at the end of 2018[8] - Cash and cash equivalents decreased to HKD 139,061 from HKD 376,831, a reduction of 63.1%[28] - The company’s net current assets were HKD 520,949, down from HKD 558,886 at the end of 2018, reflecting a decrease of 6.8%[11] - Total equity as of June 30, 2019, was HKD 596,200,000, down from HKD 623,900,000 as of December 31, 2018, primarily due to reported losses during the review period[84] Operational Insights - The company did not report any new product launches or significant market expansion strategies during this period[5] - The company did not adopt any other new standards or interpretations that have been issued but are not yet effective[43] - The company has no significant future investment or asset acquisition plans as of June 30, 2019[95] - The company anticipates a challenging economic environment in the second half of 2019, with market volatility and competition expected to increase[99] Shareholder Information - As of June 30, 2019, the company recorded a total of 1,667,821,069 shares held by its major shareholder, representing 33.65% of the total equity[112] - The company’s major shareholder, Dr. Kwan, holds a total equity interest of 34.41% in the company through Celestial Investment Group Limited[112] - Major shareholders include Hobart Assets Limited, Cash Guardian Limited, and Shifut Investment, each holding 1,667,821,069 shares, representing 33.65% of the total shares[128] - Heng Yi Group Limited holds 826,000,000 shares, accounting for 16.66% of the total shares[128] Employee and Training Initiatives - The company has implemented various training programs aimed at enhancing employee skills and overall competitiveness, including language skills, product knowledge, and compliance training[108] - The company has established a new employee orientation training program to prepare new hires for their roles and enhance work efficiency[108] - The company’s training initiatives are designed to foster a sense of belonging and collaboration among employees[108] Corporate Governance - The company has complied with corporate governance practices as per the listing rules during the reporting period[131] - All directors confirmed compliance with the trading code during the review period[132] - The unaudited consolidated performance for the six months ended June 30, 2019, has been reviewed by the company's audit committee[134] - There were no changes in the director's information that required disclosure under Listing Rule 13.51B(1)[133]

Financial Performance - The company recorded a profit of HKD 123.4 million for the year ended December 31, 2018, a decrease of 7.6% from HKD 133.6 million in 2017[19]. - Brokerage business revenue declined by 14.9% in 2018 due to reduced trading activity among retail investors[19]. - Asset management business revenue increased by 55.8% compared to 2017, driven by tailored investment strategies for clients[19]. - The company incurred a net loss of HKD 144.5 million for the year ended December 31, 2018, compared to a net loss of HKD 46.1 million in the previous year[19]. - Total revenue for the group in 2018 was HKD 123.4 million, a decrease of 7.6% from HKD 133.6 million in 2017[24]. - Net loss for the group in 2018 was HKD 144.5 million, representing a significant increase of 213.4% compared to a net loss of HKD 46.1 million in 2017[25]. - Total assets decreased by 6.2% to HKD 1,749.9 million in 2018 from HKD 1,866.1 million in 2017[25]. - The number of active clients generated an annualized average brokerage fee income of HKD 6.8 thousand per client, down 6.8% from HKD 7.3 thousand in 2017[25]. - Cash on hand increased by 35.9% to HKD 402.0 million in 2018, up from HKD 295.7 million in 2017[25]. - Bank borrowings decreased by 19.1% to HKD 106.4 million in 2018 from HKD 131.6 million in 2017[25]. Business Development and Innovation - The company has developed Hong Kong's first mobile trading app, Alpha i, utilizing big data analytics and artificial intelligence[7]. - The company launched Hong Kong's first zero-commission cryptocurrency trading platform, Weever FinTech, targeting tech-savvy younger generations[7]. - The company is applying for a virtual banking license to expand its product and service offerings[19]. - A new mobile trading application, "Alpha i," was launched, integrating AI, big data, and cloud computing technologies[19]. - The company aims to continue expanding its product offerings and enhancing its sales culture to achieve sustainable business and revenue growth[30]. - The company is focusing on enhancing its business platform and optimizing operations to achieve sustainable growth in the coming years[40]. - The company is committed to exploring more fintech solutions to strengthen its investment platform and increase customer loyalty[39]. Market Trends and Challenges - The external environment is expected to remain volatile in 2019, with uncertainties such as corporate and private debt levels, US-China trade negotiations, and Brexit impacting the business landscape[36]. - The overall performance of the securities brokerage business declined by 14.9% compared to 2017 due to market volatility and unclear investment sentiment[30]. - The asset management scale for external clients decreased by approximately 28% at the end of the year compared to 2017, prompting the company to adopt a defensive strategy and attract new potential clients[32]. Awards and Recognition - The company has received multiple industry awards, including the "Hong Kong Service Brand" and "Market Leader Award," recognizing its achievements[8]. - The company has received notable awards for its financial technology innovations, including the 2018 FinTech Awards for startups and big data from ET Net[39]. Corporate Governance and Compliance - The board has implemented new governance policies to ensure compliance with corporate governance codes, enhancing operational transparency[79]. - The company is committed to maintaining a strong risk management framework, with ongoing reviews of internal controls and compliance measures[76]. - The group has established a comprehensive risk management framework to identify, assess, manage, and report various significant risks, including strategic, operational, compliance, reporting, and information technology risks[126]. - The audit committee conducted four meetings and reviewed the group's annual and interim financial statements, as well as risk management and internal control systems[96][97]. Environmental and Social Responsibility - The company has implemented various waste reduction measures, including a green information and communication technology platform[162]. - The company actively seeks opportunities to save energy and reduce waste as part of its "Green Vision" initiative[156]. - The company has complied with all relevant environmental laws and regulations during the reporting period[158]. - The group collaborates with various charitable organizations and has conducted multiple donation activities during the reporting period[192]. Employee Engagement and Development - The company employed 183 staff members as of December 31, 2018, with total employee wage costs amounting to HKD 75.6 million[44]. - The company has implemented various training programs to enhance employee skills and overall competitiveness[46]. - The total number of employees increased from 165 in 2017 to 183 in 2018, representing an increase of approximately 10.9%[176].