Financial Performance - For the six months ended June 30, 2020, the company reported a total revenue of HKD 34,291,000, a decrease from HKD 132,674,000 in the same period of 2019, representing a decline of approximately 74.1%[2] - The net loss from continuing operations for the period was HKD 169,774,000, compared to a profit of HKD 30,243,000 in the prior year, indicating a significant downturn in performance[3] - The basic loss per share for the period was HKD 56.3 cents, compared to a profit of HKD 8.3 cents per share in the same period last year[3] - The company recorded a fair value loss on investment properties of HKD 21,000,000 during the period[2] - The company reported a net loss from financial assets measured at fair value through profit or loss of HKD 76,850,000, compared to a gain of HKD 21,823,000 in the previous year[2] - The company reported a total comprehensive loss of HKD 182,119,000 for the six months ended June 30, 2020, compared to a loss of HKD 26,902,000 for the same period in 2019[10] - The company reported a loss attributable to equity holders of HKD 169,577,000 for the period, compared to a profit of HKD 25,190,000 in the same period last year[36] - The group reported a total operating loss of HKD (161,496,000) for the six months ended June 30, 2020, compared to a profit of HKD 42,638,000 in the same period of 2019[21] Revenue Breakdown - Total revenue for the six months ended June 30, 2020, was HKD 47,748,000, a decrease of 34.7% compared to HKD 73,075,000 for the same period in 2019[18] - Commission and management income decreased to HKD 13,863,000 from HKD 17,171,000, representing a decline of 19.0%[18] - Revenue from media publishing and financial public relations services dropped to HKD 14,549,000, down 30.5% from HKD 20,931,000[18] - Interest income from loans and trade receivables decreased to HKD 7,797,000 from HKD 10,631,000, a decline of 26.0%[18] - The net loss from trading securities, foreign exchange, and commodity contracts was HKD (29,362,000), compared to a profit of HKD 34,317,000 in the previous year[18] Asset and Liability Changes - Non-current assets increased from HKD 682,764 million to HKD 714,535 million, representing a growth of 4.1%[5] - Total current assets decreased from HKD 1,365,719 million to HKD 1,234,147 million, a decline of 9.6%[5] - Total liabilities decreased from HKD 1,056,412 million to HKD 1,045,243 million, a reduction of 1.1%[7] - Total equity attributable to equity holders decreased from HKD 913,529 million to HKD 651,242 million, a decline of 28.7%[8] - The company’s total liabilities to total assets ratio improved from 55.5% to 55.0%[7] - The company’s total equity increased from HKD 835,819 million to HKD 653,700 million, reflecting a decrease of 21.8%[8] Cash Flow and Financing - The net cash flow from operating activities was HKD 26,371,000, an increase from HKD 25,595,000 year-over-year[12] - The company generated HKD 50,000,000 from the issuance of convertible bonds during the reporting period[12] - The cash and cash equivalents at the end of the period amounted to HKD 83,867,000, up from HKD 28,880,000 at the end of the previous year[12] - The net cash flow from financing activities was HKD 15,198,000, compared to a net outflow of HKD 33,908,000 in the previous year[12] - The company’s investment activities generated a net cash flow of HKD 1,586,000, down from HKD 4,540,000 in the previous year[12] Operational Strategies and Future Outlook - The company plans to focus on expanding its market presence and exploring new strategies to improve financial performance in the upcoming periods[2] - The company has not disclosed specific guidance for future performance but indicated a commitment to enhancing operational efficiency and exploring new business opportunities[2] - The company plans to enhance the sales of wealth management products, including mutual funds, bonds, and insurance products, in response to the recent launch of financial services in the Greater Bay Area and Hong Kong[74] - The company aims to attract new Chinese clients through digital marketing initiatives for its wealth management services[73] Corporate Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors to oversee the financial performance and compliance[94] - The audit committee reviewed the unaudited consolidated results for the period and confirmed compliance with applicable accounting standards[94] - The company has adhered to all corporate governance codes as per the listing rules, with some deviations noted due to the absence of certain directors at the annual general meeting[92] - The company has implemented a standard code for directors regarding securities trading, ensuring compliance with regulations[93] Employee and Shareholder Information - As of June 30, 2020, the total number of employees was 235, with employee costs amounting to approximately HKD 47,200,000[72] - The company’s average number of ordinary shares issued during the period was 301,277,070[36] - The total number of shares outstanding as of June 30, 2020, was 301,277,070[85] - The employee share incentive plan allows the company to purchase up to HKD 20,000,000 worth of shares from the market to reward selected employees[86] - The company adopted a share option plan in June 2012 to incentivize and reward eligible participants for their contributions to the group's success[88]

Financial Performance - Total revenue increased by 42% from HKD 143,900,000 in 2018 to HKD 204,100,000 in 2019[6] - Net loss after tax decreased by 66% from HKD 228,000,000 in 2018 to HKD 77,500,000 in 2019[6] - Brokerage commission income fell by 22.4% from HKD 42,500,000 in 2018 to HKD 33,000,000 in 2019[8] - Margin financing balance decreased by 48% from HKD 264,200,000 in 2018 to HKD 136,800,000 in 2019[9] - Revenue from corporate advisory and underwriting dropped by 21.3% from HKD 30,000,000 in 2018 to HKD 23,600,000 in 2019[10] - Asset and wealth management revenue increased by 25% from HKD 2,800,000 in 2018 to HKD 3,500,000 in 2019[11] - Media business revenue decreased from HKD 54,900,000 in 2018 to HKD 49,100,000 in 2019[12] - Operating loss in the media segment increased from HKD 29,100,000 in 2018 to HKD 38,000,000 in 2019[12] - The average daily trading volume on the Hong Kong Stock Exchange fell by 19% from HKD 107,400,000,000 in 2018 to HKD 87,200,000,000 in 2019[8] - The number of new listings on the Hong Kong Stock Exchange decreased by approximately 16.1% from 218 in 2018 to 183 in 2019[10] - The group's investment portfolio decreased from HKD 431,200,000 as of December 31, 2018, to HKD 414,300,000 as of December 31, 2019[14] - The group reported a profit of HKD 19,000,000 from trading and investment activities for the year ended December 31, 2019, compared to a loss of HKD 52,700,000 for the previous year[14] - The fair value loss of financial assets was HKD 13,400,000 for the year ended December 31, 2019, significantly lower than the loss of HKD 146,900,000 for the year ended December 31, 2018[14] - The fair value of investment properties increased from HKD 529,000,000 as of December 31, 2018, to HKD 550,000,000 as of December 31, 2019, reflecting a revaluation gain of HKD 21,000,000, or 4%[16] - Total rental income increased by 7.6% to HKD 12,800,000 for the year ended December 31, 2019, compared to HKD 11,900,000 for the previous year[16] - The debt-to-capital ratio was approximately 36.3% as of December 31, 2019, compared to 36.8% as of December 31, 2018[19] - The group had cash reserves of HKD 89,500,000 as of December 31, 2019, down from HKD 108,500,000 the previous year[19] Workforce and Employee Management - The total number of employees decreased from 280 as of December 31, 2018, to 240 as of December 31, 2019[23] - Employee costs for the year were approximately HKD 117,400,000, a decrease from HKD 119,500,000 in the previous year[23] - The group has reduced its overall workforce by approximately 14% to align resources with labor demands and maximize output[35] - The company has implemented health and safety measures, including regular disinfection of common areas and providing hand sanitizers at office entrances[187] - The company aims to maintain competitive compensation packages, including personal and life insurance, paid leave, and educational scholarships[180] - The company has established policies to ensure fairness in recruitment and to enhance applicant diversity[180] - The company conducted performance evaluations for eligible employees, which are reviewed annually in December[180] - The average turnover rate for 2019 was approximately 2.68%, compared to 3.47% in 2018[182] - The company provided internal training programs, including onboarding and on-the-job training, to support employee development[188] - The company has a clear policy against discrimination based on age, gender, marital status, pregnancy, family status, race, nationality, religion, and disability[180] - In 2019, there was one reportable work injury, resulting in one lost workday, while there were no reported occupational diseases[186] - The company provided training on anti-money laundering and counter-terrorist financing to employees, emphasizing its importance[189] - Average training hours per employee in 2019 were 4.75 hours for male general staff and 4.25 hours for female general staff[191] - The company strictly adheres to the Employment Ordinance, prohibiting child labor and forced labor[192] - No incidents of child labor were reported in 2019 or 2018[193] Corporate Governance - The company has adopted a dividend policy to ensure sufficient reserves for future growth while distributing profits to shareholders[56] - The board will consider various factors, including financial performance and capital commitments, when determining dividend payments[57] - The company has adopted a board diversity policy since August 2013, considering factors such as gender, age, cultural background, and professional experience when nominating candidates for board positions[118] - The board ensures that independent non-executive directors participate in discussions and voting on transactions involving potential conflicts of interest[120] - The company has established a whistleblowing policy to ensure confidentiality for employees reporting misconduct[141] - The company has received annual confirmations of independence from its independent non-executive directors[71] - The board confirmed the adequacy and effectiveness of the risk management and internal control systems, with no significant control failures reported during the year[134] - The audit committee consists of three independent non-executive directors, ensuring oversight of external auditor independence and audit effectiveness[139] - The company has established procedures for identifying, assessing, and managing significant risks, with ongoing enhancements to risk management practices[132] - The company has not identified any material uncertainties that may cast significant doubt on its ability to continue as a going concern[136] - The company maintains sufficient public float as per listing rules throughout the year[93] - The company has not entered into any management contracts for the overall or any significant part of its business during the year[86] - The company has disclosed related party transactions as required by the listing rules[95] - The company has implemented guidelines to prevent money laundering and terrorist financing, improving risk management and internal controls[132] Environmental Impact - Total greenhouse gas emissions decreased by approximately 15.6% to 236.4 tons in 2019 from 280.2 tons in 2018, attributed to reduced electricity and business travel consumption[171] - Electricity consumption accounted for 187.5 tons of indirect emissions in 2019, down from 197 tons in 2018[170] - Business travel emissions decreased to 19.7 tons in 2019 from 50.9 tons in 2018[170] - Paper consumption emissions reduced to 23.3 tons in 2019 from 25 tons in 2018, with 5.9 tons of emissions avoided through paper recycling[170] - The company has implemented various measures to reduce paper consumption, including an electronic leave application system and double-sided printing[169] - The company has no harmful waste generation and arranges for independent third-party recycling of electronic equipment[172] - The company promotes environmental protection through initiatives encouraging the use of public transport and virtual meetings to reduce greenhouse gas emissions[167] Shareholder Communication - The company maintains communication with shareholders through various channels, including annual general meetings and reports[157] - The company provides regular updates on its performance and financial status to all directors, ensuring they fulfill their responsibilities effectively[152] - The company’s website contains the latest data and information for shareholders and potential investors[164] - Shareholders holding at least 5% of the total voting rights can request a special general meeting, with specific procedures outlined for such requests[160]

Financial Performance - For the six months ended June 30, 2019, the company reported a total revenue of HKD 132,674,000, a significant increase from HKD 66,988,000 in the same period of 2018, representing a growth of approximately 98%[2] - The net profit for the period was HKD 30,243,000, compared to a net loss of HKD 111,554,000 in the previous year, indicating a turnaround in financial performance[3] - The company recorded a fair value gain on financial assets of HKD 21,823,000, a substantial improvement from a loss of HKD 98,418,000 in the prior year[2] - The total other income for the period was HKD 1,449,000, down from HKD 2,069,000 in the previous year, reflecting a decrease of approximately 30%[2] - Basic earnings per share for the period were HKD 10.0 cents, compared to HKD 37.0 cents in the same period last year, indicating a decline in earnings per share[3] - The company reported a profit of HKD 25,165,000 for the period, compared to a loss of HKD 111,554,000 in the previous year[10] - Total comprehensive income for the period amounted to HKD 26,902,000, while the previous year's total comprehensive loss was HKD 115,162,000[10] - The net cash flow from operating activities was HKD 25,595,000, a significant improvement from a cash outflow of HKD 111,806,000 in the prior year[12] Revenue Breakdown - Customer contract revenue for the six months ended June 30, 2019, was HKD 73,075,000, compared to HKD 57,542,000 in 2018, reflecting an increase of 27%[25] - The revenue from commission and management services was HKD 17,171,000, down from HKD 24,161,000 in the previous year, indicating a decline of 29.5%[25] - Revenue from media publishing and financial public relations services was HKD 20,931,000, up from HKD 18,188,000, showing an increase of 9.6%[25] - Revenue from jewelry product sales was HKD 18,152,000, which was not reported in the previous year, indicating a new revenue stream[25] - Interest income from loans and trade receivables was HKD 10,631,000, down from HKD 13,589,000, reflecting a decrease of 21.7%[25] Assets and Liabilities - Non-current assets increased to HKD 723,188 million in 2019 from HKD 687,026 million in 2018, representing a growth of 5.2%[5] - Current assets decreased slightly to HKD 1,580,256 million in 2019 from HKD 1,600,373 million in 2018, a decline of 1.5%[7] - Total liabilities decreased to HKD 1,176,570 million in 2019 from HKD 1,185,496 million in 2018, a reduction of 0.3%[7] - The company's total assets amounted to HKD 1,126,874 million in 2019, up from HKD 1,101,903 million in 2018, indicating an increase of 2.3%[7] - The net asset value increased to HKD 941,262 million in 2019 from HKD 914,360 million in 2018, reflecting a growth of 2.9%[7] Operational Strategies - The company plans to continue its market expansion and product development strategies to enhance future growth prospects[2] - The company aims to improve its operational efficiency and reduce costs in the upcoming periods to enhance profitability[2] - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its service offerings[2] Corporate Governance - The group reported that the interim financial statements have been reviewed by the audit committee, ensuring compliance with applicable disclosure requirements[1] - The group has adopted the new and revised Hong Kong Financial Reporting Standards effective from January 1, 2019, which may impact financial reporting[19] - The group has not identified any significant financial impact from the adoption of the new standards on the interim financial statements[19] - The group’s auditors have issued a report on the financial statements for the year ended December 31, 2018, without any reservations[15] - The company has established an Audit Committee consisting of three independent non-executive directors, which has reviewed the unaudited consolidated results for the period[101] Shareholder Information - As of June 30, 2019, Mr. Wu holds a total of 88,461,607 shares, representing 29.36% of the total issued shares[85] - Ms. Zhang holds 12,300,311 shares, accounting for 4.08% of the total issued shares[85] - Major shareholders include Fung Shing Group Limited with 23,526,030 shares (7.81%) and Parkfield Holdings Limited with 44,623,680 shares (14.81%)[88] Future Plans and Developments - The company plans to launch a new mobile application for remote account opening in China, aiming to expand its customer base and increase revenue sources[80] - The company has initiated a bond financing business in Q2 2019, targeting high-net-worth clients for marketing and promotion of this new product[79] - The company is in discussions to establish a series of private equity funds to generate additional income through asset management fees and to leverage investment banking-related business[81] - The company will continue to conduct online and offline seminars to educate existing and potential clients on various trading strategies, compensating for reduced income from lower stock market trading volumes[79]

Financial Performance - The group's revenue for the year ended December 31, 2018, was HKD 143,900,000, a decrease of 43.4% from HKD 254,300,000 in 2017[9]. - The operating loss for the core business segments decreased by 19% to HKD 64,600,000 from HKD 79,700,000 in the previous year[9]. - The brokerage commission income fell to HKD 42,500,000 from HKD 52,700,000, with the brokerage segment's operating loss slightly reduced to HKD 24,300,000 from HKD 25,400,000[11]. - The margin financing and credit lending segment recorded revenue of HKD 28,900,000, up from HKD 28,100,000, but profit dropped to HKD 3,800,000 from HKD 9,300,000[15]. - The investment banking segment's revenue increased to HKD 30,000,000 from HKD 26,100,000, achieving a profit of HKD 500,000 compared to a loss of HKD 5,400,000 in the previous year[16]. - The asset and wealth management segment's loss was reduced by 38% to HKD 15,500,000 from HKD 25,000,000, with a focus on cost management and strategic investments[18]. - The total value of the margin financing portfolio decreased to HKD 264,200,000 from HKD 374,800,000 at the end of 2017[15]. - The investment portfolio decreased from HKD 625.2 million as of December 31, 2017, to HKD 431.2 million as of December 31, 2018, resulting in an unrealized fair value loss of HKD 146.9 million for the year[21]. - The fair value of investment properties increased from HKD 480 million to HKD 529 million, with a revaluation gain of HKD 49 million, representing 10% of the fair value as of December 31, 2017[22]. - Rental income increased by 12% from HKD 10.6 million in 2017 to HKD 11.9 million in 2018, with operating profit rising to HKD 59.7 million from HKD 49.9 million[22]. - The debt-to-capital ratio increased to approximately 36.8% as of December 31, 2018, compared to 24.1% in 2017, with net debt rising to HKD 531.4 million[28]. - The company recorded a significant unrealized loss of HKD 146.9 million due to market sentiment affecting financial assets, compared to an unrealized gain of HKD 11 million in the previous year[21]. Dividends and Shareholder Policies - The company did not declare any interim or final dividends for the year ended December 31, 2018[10]. - The company did not declare an interim dividend for the year ended December 31, 2018, consistent with the previous year[57]. - The board does not recommend the payment of a final dividend for the year ended December 31, 2018, similar to the previous year[57]. - The company has adopted a dividend policy to distribute net profits to shareholders while retaining sufficient reserves for future growth[60]. - The board will consider actual and expected financial performance, business performance, and other factors when determining dividends[61]. - As of December 31, 2018, the company had no distributable reserves[69]. Corporate Governance - The company has established compliance procedures to ensure adherence to applicable laws and regulations, with updates provided to relevant employees[34]. - The board is responsible for the group’s environmental, social, and governance strategies and reporting[55]. - The company has adopted a board diversity policy since August 2013, considering factors such as gender, age, cultural background, and professional experience when nominating candidates[131]. - The company ensures that independent non-executive directors participate in discussions and voting on significant transactions to avoid conflicts of interest[133]. - The company has established effective risk management and internal control systems, with ongoing reviews to safeguard shareholder and asset interests[144]. - The company reviews its corporate governance policies and practices regularly to ensure compliance with relevant codes[158]. - The company has a whistleblowing policy to ensure confidentiality in reporting misconduct by employees or management[160]. Employee and Workplace Practices - The total number of employees increased to 280 as of December 31, 2018, compared to 235 in the previous year, with employee costs approximately HKD 119.5 million[32]. - The average turnover rate for 2017 was approximately 3.18%, while for 2018 it increased to approximately 3.47%[197]. - In 2018, the company reported one recordable work injury, resulting in a loss of 7 workdays, while there were no reported occupational diseases[200]. - The company has implemented various policies to ensure fair recruitment, diversity, and compliance with anti-discrimination laws[195]. - The employee compensation policy is reviewed annually in December, ensuring competitive salary packages based on current market rates[195]. - The company provides a supportive and healthy work environment, emphasizing employee well-being and community building[195]. - The human resources department oversees occupational health and safety matters, ensuring all incidents are reported and investigated[198]. Environmental Initiatives - Total greenhouse gas emissions decreased by approximately 8.4% to 280.2 tons in 2018 from 306.0 tons in 2017, attributed to reduced electricity and business travel consumption[185][186]. - The company promotes environmental protection through initiatives encouraging the use of public transport and reducing business travel[182]. - The company has no hazardous waste generation, and all electronic waste is handled by independent third-party recyclers[187]. - The company implemented measures to reduce paper consumption, including electronic leave applications and internal communications[184]. Strategic Plans and Market Outlook - The company anticipates a slowdown in the global economy by 2.9% in 2019, with ongoing market volatility affecting investor sentiment[40]. - The company plans to diversify its loan portfolio by investing more resources into mortgage loan business, anticipating strong demand[42]. - The company aims to leverage the opportunities presented by the Greater Bay Area and the Belt and Road Initiative to penetrate the Chinese market[40]. - The company is optimistic about its corporate advisory and underwriting business due to favorable policies from the Hong Kong Stock Exchange for dual listings[42]. Shareholder Communication - The company maintains communication with shareholders through annual general meetings, annual reports, interim reports, announcements, and its website[172]. - The company has established a process for shareholders to submit inquiries to the board in writing[176]. - Shareholders holding at least 5% of total voting rights can request a special general meeting, and the request must specify the general nature of the business to be transacted[175]. - The company promotes investor relations and enhances communication with shareholders and potential investors through its website[179].