意力国际(00585)发布公告，本公司预期截至2025年6月30日止6个月取得未经审核综合净溢利约400万港 元。此相较于截至2024年6月30日止同期(上一期间)取得的未经审核综合净亏损约1100万港元有所改 善。 公告称，扭亏为盈主要由于拨回应收保证金贷款及应收贷款的减值拨备，而上一期间则取得减值拨备; 及分类为持作买卖上市投资的公平值变动的转变，由上一期间的未变现亏损转为本期间的未变现收益。 ...

格隆汇8月12日丨意力国际(00585.HK)公告，公司预期截至2025年6月30日止6个月录得未经审核综合净 溢利约400万港元。此相较于截至2024年6月30日止同期("上一期间")录得未经审核综合净亏损约1100万 港元有所改善。 财务业绩预期由上一期间亏损转为本期间溢利，主要归因于以下因素：(i)拨回应收保证金贷款及应收贷 款减值拨备，而上一期间则录得减值拨备；及(ii)分类为持作买卖上市投资公平值变动转变，由上一期 间未变现亏损转为本期间未变现收益。 ...

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之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 財務業績預期由上一期間之虧損轉為本期間之溢利，主要歸因於以下因素： — 1 — 正面盈利預告 本公告由意力國際控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據香港聯 合交易所有限公司證券上市規則（「上市規則」）第13.09(2)條及證券及期貨條例（香港法例 第571章）第XIVA部內幕消息條文（定義見上市規則）作出。 本公司董事會（「董事會」）謹此通知本公司股東（「股東」）及潛在投資者，根據對本公司截 至二零二五年六月三十日止六個月（「本期間」）之未經審核綜合管理賬目的初步評估及現 時可得資料，本公司預期錄得未經審核綜合淨溢利約4,000,000港元。此相較於截至二零 二四年六月三十日止同期（「上一期間」）錄得之未經審核綜合淨虧損約11,000,000港元有所 改善。 於本公告日期，董事會成員包括以下董事： 執行董事： Kitchell Osman Bin先生 （主席） 蔡家頴女士 劉簡怡女士 ...

财务数据显示，截至2024年12月31日，意力国际实现营业总收入3615.91万元，同比减少20.37%；归母 净利润-1728.45万元，同比减少45.31%；毛利率95.54%，资产负债率2.43%。 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，其他金融行业市盈率（TTM）平均值为28.2倍，行业中值-0.21倍。意力国际市盈 率-18.01倍，行业排名第95位；其他东方汇财证券（08001.HK）为1.93倍、招商局中国基金 （00133.HK）为2.46倍、维信金科（02003.HK）为3.62倍、香港信贷（01273.HK）为3.69倍、中关村科 技租赁（01601.HK）为4.05倍。 6月27日，截至港股收盘，恒生指数下跌0.17%，报24284.15点。意力国际（00585.HK）收报0.445港元/ 股，上涨9.88%，成交量8.16万股，成交额3.87万港元，振幅8.64%。 最近一个月来，意力国际累计涨幅32.79%，今年来累计涨幅32.79%，跑赢恒生指数21.26%的涨幅。 资料显示，意力国际控股有限公司('意力')是香港联合交易所有限公司主板上市的公司(港交所 ...

Company Overview - Yili International Holdings Limited is listed on the Hong Kong Stock Exchange under stock code 00585.HK and primarily engages in comprehensive financial services, investment holding, computer imaging, and entertainment businesses [2] - The main revenue sources for the company include brokerage and asset management services, guarantee financing services, and lending services [2] Financial Performance - As of December 31, 2024, Yili International reported total revenue of 36.1591 million HKD, a year-on-year decrease of 20.37% [1] - The net profit attributable to shareholders was -17.2845 million HKD, reflecting a year-on-year decline of 45.31% [1] - The gross profit margin stood at 95.54%, and the debt-to-asset ratio was 2.43% [1] Stock Performance - On June 3, the Hang Seng Index rose by 1.53%, closing at 23,512.49 points [1] - Yili International's stock price closed at 0.52 HKD per share, marking a significant increase of 70.49% with a trading volume of 4.0939 million shares and a turnover of 1.7674 million HKD [1] - Over the past month, the stock has seen a cumulative increase of 1.67%, while year-to-date performance shows no change, underperforming the Hang Seng Index by 15.44% [1] Valuation Metrics - Currently, there are no institutional investment ratings for Yili International [2] - The company's price-to-earnings (P/E) ratio is -13.56, ranking 101st in the industry, while the average P/E ratio for other financial sectors is 22.88 [2] - Comparatively, other companies in the sector have P/E ratios ranging from 1.93 to 3.64 [2]

Financial Performance - For the year ended December 31, 2024, the Group recorded a revenue of approximately HK$39 million, representing a decrease of approximately 20% compared to the financial year of 2023[16]. - The net loss attributable to shareholders for the year was approximately HK$19 million, an increase of approximately HK$6 million from approximately HK$13 million for the corresponding period in 2023[16]. - The overall retail market performance remained depressed in 2024, with many retail entities going out of business due to low consumer confidence[16]. - The net loss attributable to shareholders for the year was approximately HK$19 million, an increase from a net loss of approximately HK$13 million in 2023, primarily due to a 38% decrease in revenue from securities brokerage and money lending businesses[89][92]. - The Group's bank balances totaled approximately HK$22 million as of December 31, 2024, down from approximately HK$31 million in 2023, with a current ratio of approximately 26 times compared to 13 times in 2023[94][99]. - The market value of the Company as of December 31, 2024, was approximately HK$253 million, a significant decrease from approximately HK$1,220 million in 2023[104][108]. - The consolidated net asset value attributable to shareholders per share as of December 31, 2024, was approximately HK$0.67, down from approximately HK$0.84 in 2023[105][108]. Business Strategy - The Company plans to focus on consolidating its existing business rather than pursuing rapid expansion, particularly in its integrated financial services business[20]. - The Group's cautious approach to business development will prioritize stability over aggressive growth strategies in the current economic climate[20]. - The Company plans to exit the corporate finance business by surrendering its Type 6 license effective February 11, 2025, due to minimal business activity since inception[25]. - The Group intends to make equity investments for long-term purposes, aiming to realize their performance over the long run[38]. - The Group will continue to monitor market dynamics and adjust strategies accordingly in its financial services expansion[25]. - The management is committed to maintaining momentum in expanding financial services and securities brokerage operations, which are expected to remain core and profitable[54]. Market Outlook - The Group anticipates gradual improvement in the business environment in Hong Kong and China for 2025, driven by easing credit policies and government financial incentives[22]. - The Company expects the high interest rate regime to peak in 2025 and begin to reverse in the second half of the year, which may improve the global economic and financial market environment[22]. - Recent successes in entertainment, such as the "PS5 game-Black Wukong" and the animated film "Ne Zha 2," are expected to positively impact the Chinese market and overall economy[22]. - The securities brokerage and related services sector is expected to improve performance in 2025, remaining a significant contributor to the Group's operations and profits[25]. Financial Services - The Integrated Financial Services remains the core business of the Group, which includes securities brokerage, asset management, and money lending services[39]. - The securities brokerage and asset management segment generated total revenue of approximately HK$26 million for the Group[53]. - Imagi Brokerage is a key contributor to the Group's business, expected to generate revenue through various financial services[48]. - The Group aims to attract more customers through acquisitions and strategic alliances with local securities brokerage firms[52]. - The management believes that the securities brokerage operations will continue to be a sustainable business in the foreseeable future[56]. - Imagi Lenders focuses on providing sizeable loans to niche customers, including corporate clients and high-net-worth individuals[58]. - The loan approval process includes a thorough credit assessment based on various factors, including market conditions and borrower financial strength[63]. - Imagi Lenders has established internal control policies to monitor credit risk continuously[60]. - Total interest income generated from the money lending business was approximately HK$6 million, with interest rates ranging from 4% to 12% per annum[73]. - As of December 31, 2024, outstanding loans receivable amounted to approximately HK$154 million, owed by 13 customers[74]. - Approximately HK$11 million impairment allowances were provided on the outstanding loans receivable of approximately HK$154 million as of December 31, 2024[74]. Corporate Governance - The Company has complied with the Corporate Governance Code provisions during the Year under Review, enhancing accountability and transparency[137]. - The Company recognizes the importance of good corporate governance for stakeholders and has adopted the principles outlined in the Corporate Governance Code[136]. - The Company has established a robust corporate governance framework to support its strategic objectives and stakeholder interests[142]. - The Board consists of a minimum of three independent non-executive Directors, representing at least one-third of the Board, ensuring high standards of financial reporting and safeguarding shareholder interests[146]. - Each independent non-executive Director has provided written annual confirmation of their independence, in compliance with Listing Rules[147]. - The Company has established a Board Diversity Policy to enhance decision-making by incorporating diverse perspectives, focusing on measurable objectives[178]. - The Nomination Committee is responsible for reviewing the structure and composition of the Board at least annually to ensure a balanced and diverse profile[186]. - The Company recognizes that gender diversity at the Board level enhances governance and corporate performance[188]. Human Resources - The total staff cost for Directors and employees for the year amounted to approximately HK$17 million, unchanged from 2023[112]. - The Group employed 37 employees as of December 31, 2024, down from 40 employees in the previous year[114]. - The Group's compensation policy is regularly reviewed to ensure compliance with local labor laws and market practices[114]. - Eligible employees may receive bonuses and stock options based on individual performance and the Group's business performance[114]. - The Company is committed to maintaining a competitive compensation structure to attract and retain talent[114]. - Continuous professional development is encouraged for all directors to keep their knowledge and skills relevant[171]. - The Company aims to maintain a minimum percentage of female representation on the Board of at least 25%, with current female Directors representing 33.3% of the total Board members[192]. - As of December 31, 2024, the workforce consists of 46% male employees and 54% female employees, reflecting the Company's commitment to gender diversity[193].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 39,047,000, a decrease of 20.4% compared to HKD 49,033,000 in 2023[4] - Brokerage commission and settlement fee income decreased to HKD 1,058,000 from HKD 1,942,000, representing a decline of 45.4%[2] - Interest income from margin clients dropped to HKD 22,802,000, down 38.1% from HKD 36,809,000 in the previous year[2] - The net gain from the sale of financial assets classified as held for trading was HKD 5,031,000, compared to a loss of HKD 3,685,000 in 2023[4] - The company reported a total operating loss of HKD 18,415,000, an increase of 49.4% from a loss of HKD 12,348,000 in the prior year[4] - The net loss for the year was HKD 18,954,000, compared to a net loss of HKD 15,337,000 in 2023, reflecting a 17.3% increase in losses[4] - The pre-tax consolidated loss for the year ended December 31, 2024, was HKD 18,840,000, compared to a loss of HKD 12,845,000 in 2023, indicating a significant increase in losses[34] - Pre-tax loss attributable to the company was HKD 18,665,000 for 2024, compared to HKD 12,845,000 in 2023, reflecting an increase in loss of 45%[43] - The net loss attributable to shareholders for the review year was approximately HKD 19,000,000, compared to a net loss of approximately HKD 13,000,000 in the corresponding fiscal year 2023, primarily due to a 38% decrease in revenue from securities brokerage and lending businesses[92] Assets and Liabilities - Total assets decreased to HKD 1,080,005,000 from HKD 1,286,554,000, a decline of 16.0%[10] - The company's net asset value fell to HKD 687,474,000 from HKD 832,988,000, a decrease of 17.4%[12] - The total assets as of December 31, 2024, amounted to HKD 704,562,000, down from HKD 869,254,000 in 2023, representing a decrease of 19.0%[34] - The total liabilities decreased to HKD 17,088,000 from HKD 36,266,000, a reduction of 52.9% year-over-year[34] - Accounts payable decreased to HKD 10,290,000 in 2024 from HKD 23,189,000 in 2023, showing a reduction in liabilities related to securities brokerage activities[69] - The group has no bank or other borrowings as of December 31, 2024, resulting in a debt-to-equity ratio of zero[93] Revenue Segments - The brokerage and asset management segment generated revenue of HKD 25,869,000, down 38.0% from HKD 41,774,000 in the previous year[33] - The financing segment reported a revenue of HKD 6,290,000, a decrease from HKD 10,198,000, reflecting a decline of 38.5%[35] - Total other income for the year ended December 31, 2024, was HKD 1,084,000, a decrease of 66% from HKD 3,184,000 in 2023[38] - The lending business generated total interest income of approximately HKD 6,000,000, with interest rates ranging from 4% to 12%[85] - The securities investment segment recorded realized gains of approximately HKD 5,000,000 from the sale of listed equity investments, with unrealized losses of approximately HKD 3,000,000[87] Expenses - The company experienced a significant increase in administrative expenses, totaling HKD 39,599,000, compared to HKD 39,022,000 in 2023[4] - Total employee costs for 2024 were HKD 17,108,000, slightly up from HKD 17,061,000 in 2023[41] - Total employee costs for the review year were approximately HKD 17,000,000, consistent with the previous year[114] Investments and Financing - The company held trading investments valued at HKD 13,396,000 as of December 31, 2024, down from HKD 22,260,000 in 2023, indicating a significant decrease in trading investment holdings[67] - The company has unused loan commitments of HKD 10,000,000 as of December 31, 2024, significantly down from HKD 32,900,000 in 2023, indicating a tightening of credit availability[71] - The total outstanding loans as of December 31, 2024, amounted to HKD 154,154,000, up from HKD 85,184,000 in 2023[60] - The largest single loan accounted for 10% of the total outstanding loans, increasing from 16% in 2023[62] - The company has not utilized its margin financing amounting to approximately HKD 2,392,000 as of December 31, 2024, down from HKD 5,589,000 in 2023[67] Corporate Strategy and Future Outlook - The company plans to exit the corporate finance advisory service line by relinquishing its license in February 2025 due to underperformance in that segment[76] - The company continues to focus on its core business of integrated financial services, which includes securities brokerage and related financial advisory services, asset management, and lending services[76] - The company has decided to develop its film distribution rights business starting from 2023, which will be reported under the entertainment segment[76] - The company remains optimistic about the long-term prospects of the film industry despite the cautious approach to future film investment opportunities[90] - The company anticipates improvements in the financial services business environment in Hong Kong and China, driven by regulatory relaxations and government stimulus measures[103] Regulatory and Reporting Changes - The group has adopted revised Hong Kong Financial Reporting Standards and Hong Kong Accounting Standards effective from January 1, 2024, which do not have a significant impact on the financial position and performance for the current and prior years[17] - The amendments clarify the classification of liabilities as current or non-current based on rights existing at the end of the reporting period, regardless of management's intentions[24] - The revised standards require disclosure of supplier financing arrangements to assess their impact on liabilities and cash flows, enhancing transparency for financial statement users[21] - The accounting impact of the cancellation of the MPF offsetting mechanism for long service payments will not have a significant effect on the consolidated financial statements for the years ending December 31, 2024, and December 31, 2023[28] - The management is currently assessing the potential impacts of new and revised Hong Kong Financial Reporting Standards that have not yet come into effect[73] Shareholder Information - The company reported a basic and diluted loss per share of HKD 0.02, unchanged from the previous year[8] - The company did not declare or propose any dividends for the year ended December 31, 2024, consistent with 2023[39] - The board did not recommend the payment of a final dividend for the review year[100] - The company's market capitalization as of December 31, 2024, was approximately HKD 253,000,000, down from approximately HKD 1,220,000,000 in 2023[97] Employment and Corporate Governance - The group employed 37 employees as of December 31, 2024, compared to 40 employees as of December 31, 2023, maintaining 6 directors in both years[114] - The annual general meeting is scheduled for June 19, 2025, with a suspension of share transfer registration from June 16 to June 19, 2025[119] - The annual results announcement and the 2024 annual report will be published on the Hong Kong Stock Exchange and the company's website[121]

Financial Performance - For the six months ended June 30, 2024, Imagi Brokerage generated approximately HK$1.1 million from asset management services and HK$15.3 million in interest income from margin clients[13]. - The Company reported a challenging environment affecting its brokerage's asset management services[13]. - The consolidated net loss attributable to shareholders for the review period was approximately HK$11.5 million, compared to a net profit of approximately HK$4 million in the previous period[35]. - Total revenue for the six months ended June 30, 2024, was HK$26,637,000, a decrease of 19% compared to HK$32,899,000 in the same period of 2023[103]. - The company reported a loss for the period of HK$11,276,000, compared to a profit of HK$4,941,000 in the same period of 2023[105]. - Total comprehensive expense for the period attributable to owners of the Company was HK$117,068,000, compared to HK$30,254,000 in the same period of 2023, representing an increase of 287%[108]. - The loss for the period attributable to owners of the Company was HK$11,459,000, a significant decline from a profit of HK$4,064,000 in 2023[107]. Revenue Breakdown - Revenue from the money lending business decreased by approximately 46% from approximately HK$5.8 million in the previous period to approximately HK$3.1 million in the review period, with an impairment loss of approximately HK$3.9 million recognized[23][25]. - The overall segment revenue for securities brokerage and asset management was approximately HK$18.7 million, down from approximately HK$26.7 million in the previous period, while segment results were approximately HK$6.6 million compared to HK$19.6 million previously[17][20]. - Revenue from the securities brokerage and asset management segment decreased by approximately 30%, while revenue from the provision of finance segment decreased by approximately 46% during the review period[35]. - Interest income on margin clients was HK$17,173,000, down from HK$23,845,000 in 2023, representing a decline of 28.4%[171]. - Asset management fee income decreased to HK$1,086,000 from HK$2,170,000, reflecting a drop of 50%[171]. Asset Management and Investments - The Group's strategic goal focuses on developing Integrated Financial Services, with investments in local financial service firms totaling approximately HK$310.9 million, which recognized unrealized losses of approximately HK$112 million for fair value changes[28]. - The fair value of the investment in Hope Capital Limited was approximately HK$124.8 million, representing about 16.78% of the Group's total assets, with an unrealized loss of approximately HK$70.8 million for fair value changes[28]. - The Group has started engaging in film distribution license rights and variety entertainment shows since the second half of 2023[51]. - The Group invested approximately HK$16.9 million in four proposed films under the Film Investment Agreements, with three films screened and one in post-production[31]. Financial Position - The Group's bank balances as of June 30, 2024, amounted to approximately HK$18 million, down from approximately HK$31 million as of December 31, 2023[37]. - The current ratio remained stable at approximately 13 times as of June 30, 2024, consistent with the previous period[37]. - The Group had no bank or other borrowings as of June 30, 2024, resulting in a gearing ratio of zero[37]. - The unaudited consolidated net asset value per share attributable to shareholders was approximately HK$0.70 as of June 30, 2024, down from approximately HK$0.84 as of December 31, 2023[38]. - The total assets less current liabilities decreased to HK$712,509,000 from HK$833,527,000, a decline of 14.5%[113]. Operational Changes and Strategy - The Company will continue to suspend production efforts in the CGI business while maintaining distribution efforts, indicating a strategic shift in focus[29]. - The Group is adopting a cautious approach towards new business ventures and expansion plans due to the uncertain economic environment, including high interest rates and geopolitical tensions[18][21]. - The Company plans to expand its Integrated Financial Services businesses, including securities brokerage, futures trading, and corporate finance advisory services[45]. - The Company intends to enter the mass market in its next phase of expansion to diversify its business portfolio[50]. Shareholder Information - The total number of issued shares as of June 30, 2024, is 829,921,572[76]. - The Board does not recommend the payment of an interim dividend for the period under review, consistent with the previous year where no interim dividend was paid[68][69]. - As of June 30, 2024, Oshidori International Holdings Limited holds 141,882,200 shares, representing 17.1% of the company's issued share capital[75]. Accounting and Compliance - The financial statements have been prepared in accordance with the same accounting policies as the 2023 annual financial statements, ensuring consistency in reporting[122]. - The Company has amended and restated its bye-laws to align with the latest regulatory requirements and to provide flexibility for hybrid and electronic meetings, effective from June 26, 2024[65][67]. - The Group has changed its accounting policy regarding LSP liability due to the abolition of the MPF-LSP offsetting mechanism, with no material impact on the consolidated financial statements for the year ended December 31, 2023, and the six months ended June 30, 2024[146]. Fair Value Measurements - The fair value of listed equity securities in Hong Kong is HK$136,672,000, classified as Level 1 based on quoted market closing prices in an active market[158]. - The fair value of unlisted equity securities as of June 30, 2024, is HK$124,844,000, compared to HK$222,294,000 as of December 31, 2023, indicating a significant decrease[160]. - The Group's fair value loss for the six months ended June 30, 2024, was HK$79,854,000, compared to a fair value loss of HK$32,093,000 for the year ended December 31, 2023[168].

Financial Performance - Total revenue for the six months ended June 30, 2024, was HKD 26,637,000, a decrease of 19% compared to HKD 32,899,000 for the same period in 2023[2] - Brokerage commission and settlement fee income decreased to HKD 445,000 from HKD 685,000, representing a decline of 35%[1] - Asset management fee income fell to HKD 1,086,000, down 50% from HKD 2,170,000[1] - Interest income from margin clients decreased to HKD 17,173,000, a decline of 28% from HKD 23,845,000[1] - The company reported an operating loss of HKD 11,096,000 compared to an operating profit of HKD 6,187,000 in the previous year[2] - The net loss for the period was HKD 11,276,000, compared to a profit of HKD 4,941,000 in the same period last year[2] - Total comprehensive expenses for the period amounted to HKD 123,024,000, significantly higher than HKD 32,948,000 in the previous year[3] - The adjusted pre-tax loss for the group was HKD 11,276,000, reflecting a significant increase in total expenses, including employee costs of HKD 8,618,000[18] - The group reported a pre-tax profit of HKD 5,941,000 for the six months ended June 30, 2023, indicating a year-on-year performance improvement[21] - The group’s other income for the six months ended June 30, 2024, was HKD 910,000, a decrease from HKD 2,666,000 in the same period of 2023[24] - The company reported a basic loss per share of HKD 11,459,000 for the six months ended June 30, 2024, compared to a profit of HKD 4,064,000 for the same period in 2023[31] - The company reported a net loss attributable to shareholders of approximately HKD 11,500,000, compared to a net profit of approximately HKD 4,000,000 in the previous period, primarily due to a 30% and 46% decrease in revenue from the securities brokerage and asset management segments, respectively[67] Assets and Liabilities - The company's total assets decreased to HKD 712,509,000 from HKD 833,527,000, reflecting a reduction in net current assets[5] - Non-current liabilities increased, with lease liabilities rising to HKD 2,545,000 from HKD 539,000[5] - The company's equity attributable to owners decreased to HKD 583,025,000 from HKD 700,093,000[5] - The total assets of the group as of June 30, 2024, amounted to HKD 743,959,000, with segment assets distributed as follows: HKD 298,367,000 for securities brokerage, HKD 83,664,000 for asset management, HKD 304,613,000 for financing, and HKD 10,753,000 for entertainment[20] - The total liabilities of the group as of June 30, 2024, were HKD 33,995,000, with segment liabilities including HKD 27,318,000 for securities brokerage and HKD 1,215,000 for financing[20] - As of June 30, 2024, the total value of receivables was HKD 92,040,000, with expected credit loss provisions amounting to HKD 8,488,000[52] - The total margin loans receivable as of June 30, 2024, was HKD 281,354,000 (down from HKD 297,075,000 as of December 31, 2023), with a provision for impairment of HKD 19,161,000[44] - The expected credit loss rate for margin clients increased to 6.81% as of June 30, 2024, compared to 3.33% as of December 31, 2023[46] Investments - The company's investment in listed equity securities in Hong Kong was valued at HKD 136,672,000 as of June 30, 2024, a slight decrease from HKD 137,670,000 at the end of 2023[33] - The total value of non-listed equity investments was HKD 174,198,000 as of June 30, 2024, down from HKD 254,052,000 at the end of 2023[33] - The investment in Hope Capital Limited represented 16.78% of the company's total assets as of June 30, 2024, with a fair value of HKD 124,844,000[38] - The fair value of the investment in Hope Capital Limited was approximately HKD 124,800,000, representing about 16.78% of the group's total assets[65] Revenue Streams - The total segment revenue for securities brokerage and asset management was approximately HKD 18,700,000 and HKD 6,600,000, respectively, compared to HKD 26,700,000 and HKD 19,600,000 in the previous period[62] - Revenue from the lending business dropped by approximately 46% to about HKD 3,100,000 from HKD 5,800,000 in the previous period, with an impairment loss of approximately HKD 3,900,000 recognized[64] - The entertainment business generated revenue of approximately HKD 400,000 from film distribution rights during the review period[66] Operational Insights - The company continues to engage in comprehensive financial services, including securities brokerage and related financial advisory services[60] - The company maintains a cautious approach towards new business ventures and expansion plans due to the current unstable market conditions[62] - The company plans to enhance its integrated financial services business, focusing on expanding its underwriting and corporate finance advisory services while cautiously approaching market expansion due to challenging financial conditions[76][77] Cash Flow and Financing - As of June 30, 2024, the company's cash balance was approximately HKD 18,000,000, down from HKD 31,000,000 as of December 31, 2023, with a current ratio of approximately 13 times[68] - The company has not engaged in any capital raising activities during the review period[69] - As of June 30, 2024, the company had no bank borrowings, resulting in a debt-to-equity ratio of zero[68] - New loan financing issued by the company ranged from HKD 12,000,000 to HKD 20,000,000 in the six months ending June 30, 2024, with an interest rate of 7%[48] Accounting and Compliance - The company has not applied any new accounting standards or interpretations that have not yet come into effect during the reporting period[10] - The company expects to reflect changes in accounting policies in the annual financial statements for the year ending December 31, 2024[8] - The company has implemented revisions to accounting standards regarding the classification of liabilities and supplier financing arrangements, which will enhance financial statement disclosures[11] - The company has not recognized any tax provisions for the Hong Kong profits tax for the six months ended June 30, 2024, due to immaterial amounts[29] - The Dutch subsidiary is subject to a corporate tax rate of 19% on the first EUR 200,000 of taxable profits and 25.8% on the remaining profits, but no taxable profits were estimated for the period[29] Shareholder Information - No dividends were declared or proposed for the six months ended June 30, 2024, consistent with the previous year[30] - The company did not recommend any interim dividend for the review period, consistent with the previous period[75] - The total issued shares as of June 30, 2024, were 829,921,572, with a market capitalization of approximately HKD 324,000,000, significantly down from HKD 1,220,000,000 as of December 31, 2023[69]

Business Overview - The Group's principal business remains in Integrated Financial Services, investment holdings, CGI business, and entertainment business, with new activities in film distribution license rights and artiste management services introduced during the Year under Review [27]. - The Group's integrated financial services remain the core business, focusing on securities brokerage, margin financing, and asset management [112]. - The Group's entertainment business will seek additional opportunities in film investment and distribution, particularly in local films [82]. - The Group is developing film distribution license rights in Hong Kong/Macau and North America, and is investing in film production and variety shows [169][170]. Financial Performance - For the year ended December 31, 2023, the Group recorded a revenue of approximately HK$49 million, representing a decrease of 17% compared to the financial year of 2022 [74]. - The net loss attributable to the shareholders for the year under review was approximately HK$13 million [74]. - Revenue from interest income on loans receivable decreased from approximately HK$16 million to approximately HK$10 million, while total revenue from the securities brokerage and asset management segment dropped from approximately HK$49 million to approximately HK$42 million [196]. - The Group recorded a net realised loss of approximately HK$3.7 million from sales of listed equity investments and unrealised losses of approximately HK$20.9 million from changes in fair value of listed equity investments classified as held-for-trading for the Year under Review [133]. Dividend Policy - The Directors do not recommend the payment of a dividend for the Year under Review, consistent with the previous year where no dividend was declared [29]. - The Company is committed to balancing sufficient capital maintenance for business operations while rewarding shareholders, as outlined in its Dividend Policy [10]. - The Board will consider liquidity position, return on equity, and relevant financial covenants when determining dividend payments [13]. Risk Management and Internal Controls - The Company confirmed that its risk management and internal control systems are adequate and effective, as acknowledged by the Board following an annual review [4]. - The Company has engaged in ongoing reviews of key financial, operational, and compliance controls, with findings presented to the Audit Committee for endorsement [3]. - The Group has established internal control policies to monitor credit risk in its money lending business [122]. Market Conditions and Future Outlook - The Company anticipates that the overall business environment in Hong Kong and China will gradually improve in 2024 [65]. - The Company expects that the high interest rate regime has peaked and will begin to reverse in the second half of 2024 [65]. - The challenging economic environment was influenced by a plummeting property market in China and high inflation rates globally [74]. - The Group anticipates that the performance of its securities brokerage and related services will continue to improve in 2024, contributing significantly to operations and profits [79]. - The Company expects gradual improvement in the business environment in Hong Kong and China in 2024, driven by easing regulatory measures and stabilizing property markets [103]. Loan and Lending Business - The Group generated total new loan principal of HK$170.2 million and interest income of approximately HK$10 million during the Year under Review [107]. - Outstanding margin loans receivable from the securities brokerage business amounted to approximately HK$297 million as of December 31, 2023, with approximately HK$10 million impairment allowances provided [143]. - The management remains confident that the lending business will continue to provide stable and substantial returns in the future [67]. - The management is confident that the money lending business will continue to provide steady and attractive returns in the future [107]. - The total loan principal drawdown during the Year under Review was HK$170.2 million, with new loan facilities ranging from HK$0.1 million to HK$13 million [160][161]. Impairment and Provisions - Impairment allowances on margin loans receivable and loans receivable increased due to the deteriorating market environment [74]. - The increase in impairment provisions for margin loans and receivables in 2023 was attributed to a weak market environment and expectations [101]. - Impairment allowances of approximately HK$4.6 million were provided on the outstanding loans receivable as of December 31, 2023 [160][161]. Corporate Governance - The Company is committed to enhancing corporate governance and promoting an ethical corporate culture [64]. - The management will take appropriate actions on overdue loans on a case-by-case basis, ensuring effective loan monitoring and repayment collection [128]. Employee Costs - Employee costs for the year amounted to approximately HK$17 million, an increase from approximately HK$15 million in 2022 [187].