Revenue and Profit Performance - Total revenue for the period decreased to HKD 185.4 million (2023: HKD 190.3 million), with a net profit of HKD 41.6 million (2023: HKD 45.2 million)[4][5] - Adjusted net profit increased by 6.5% to HKD 99.0 million (2023: HKD 93.0 million), excluding impairment provisions[5] - Total revenue for the six months ended March 31, 2024, was HK$185.386 million, compared to HK$190.344 million in the same period in 2023, representing a decrease of 2.6%[18] - The company reported a profit attributable to owners of HK$41.627 million, down from HK$45.223 million in 2023, a decrease of 8%[18] - Profit before tax for the six months ended March 31, 2024, was HK$41.427 million, down from HK$51.341 million in 2023[31][33] - Basic earnings per share for the six months ended March 31, 2024, were HK$41.627 million, down from HK$45.223 million in 2023[41] Segment Revenue Breakdown - Loan segment revenue was HKD 128.5 million (2023: HKD 136.1 million), accounting for 69.3% of total revenue (2023: 71.5%)[7] - Brokerage services revenue slightly increased to HKD 51.0 million (2023: HKD 49.7 million), representing 27.5% of total revenue (2023: 26.1%)[9] - Corporate finance revenue was HKD 4.0 million (2023: HKD 4.3 million), contributing 2.1% to total revenue (2023: 2.3%)[10] - Placement and underwriting revenue rose to HKD 1.9 million (2023: HKD 0.2 million), making up 1.1% of total revenue (2023: 0.1%)[11] - Commission and fee income decreased to HK$30.751 million in 2024 from HK$34.152 million in 2023[35] - Interest income from loans and advances increased to HK$105.073 million in 2024 from HK$98.189 million in 2023[35] Financial Position and Liquidity - The company's liquid assets stood at HKD 4,382.4 million as of March 31, 2024, with cash and bank balances totaling HKD 1,251.7 million[13] - The company had no bank borrowings as of March 31, 2024, resulting in a debt-to-equity ratio of 0% (2023: 6.2%)[13] - The company has an unused bank financing facility of HKD 1,885.0 million as of March 31, 2024, ensuring sufficient working capital for operations and future development[13] - Total assets as of March 31, 2024, stood at HK$4,382.407 million, compared to HK$4,712.517 million as of September 30, 2023[20] - The company's net asset value increased to HK$3,431.172 million from HK$3,389.545 million in 2023[20] - The company holds trust and independent bank balances of approximately HKD 1,152,000,000 as of March 31, 2024, which are payable to clients and other institutions[56] Loans and Advances - Loans and advances decreased to HK$1,391.992 million from HK$1,615.488 million in 2023[20] - Total loans and advances decreased to HKD 2,604,720 thousand as of March 31, 2024, from HKD 2,772,999 thousand as of September 30, 2023, with a reduction in impairment allowances from HKD 696,292 thousand to HKD 762,141 thousand[42] - Credit-impaired loans and advances increased to HKD 847,000 thousand as of March 31, 2024, from HKD 798,000 thousand as of September 30, 2023, with impairment allowances of HKD 360,000 thousand (HKD 302,000 thousand as of September 30, 2023)[42] - Fixed-rate loans receivable within one year decreased to HKD 871,540 thousand as of March 31, 2024, from HKD 1,071,674 thousand as of September 30, 2023[44] - Floating-rate loans receivable within one year increased to HKD 15,503 thousand as of March 31, 2024, from HKD 4,612 thousand as of September 30, 2023[44] - The actual interest rate for fixed-rate loans ranged from 0.67% to 3.83% per month, while floating-rate loans were based on the prime rate minus 2.5% to the prime rate[46] - Secured loans with first legal charges on properties in Hong Kong and Canada amounted to HKD 1,233,000 thousand as of March 31, 2024, down from HKD 1,596,000 thousand as of September 30, 2023[46] - Loans to independent third parties secured by second or third legal charges on properties in Hong Kong and Canada increased to HKD 784,000 thousand as of March 31, 2024, from HKD 739,000 thousand as of September 30, 2023[47] - The company has initiated legal proceedings to recover loans with a total book value of approximately HKD 334,000,000 (as of March 31, 2024), with impairment provisions of HKD 305,000,000[54] Impairment Provisions and Receivables - Net impairment provisions for loans and advances were HK$65.848 million in 2024, compared to a reversal of HK$21.568 million in 2023[36] - Receivables from securities trading business decreased to HKD 1,966,215 thousand as of March 31, 2024, from HKD 2,153,281 thousand as of September 30, 2023, with impairment allowances of HKD 1,403,604 thousand (HKD 1,641,364 thousand as of September 30, 2023)[50] - Overdue receivables (0-30 days) decreased to HKD 871 thousand as of March 31, 2024, from HKD 1,395 thousand as of September 30, 2023[52] Employee and Shareholder Information - Employee costs increased to HK$36.179 million from HK$35.725 million in 2023, reflecting a 1.3% rise[18] - The company had 86 client managers as of March 31, 2024, up from 84 in 2023, while the total number of employees decreased to 121 from 128[15] - The company adopted a share option scheme to provide incentives or rewards to employees[15] - No interim dividend was declared for the period (2023: none)[16] - No interim dividend was declared for the period ended March 31, 2024, consistent with the previous year[41] - The company's issued and fully paid ordinary shares remained unchanged at 6,740,846 shares with a nominal value of HKD 67,408,000 as of March 31, 2024[57] Tax and Legal Proceedings - The company recorded a tax credit of HK$200,000 in 2024, compared to a tax expense of HK$6.118 million in 2023[39] - The company has initiated legal proceedings to recover loans with a total book value of approximately HKD 334,000,000 (as of March 31, 2024), with impairment provisions of HKD 305,000,000[54] Securities and Trading Business - The total accounts payable for securities and futures trading businesses amounted to HKD 1,345,042,000 as of March 31, 2024, compared to HKD 1,537,710,000 as of September 30, 2023[55] - The company's financial assets and liabilities recorded at amortized cost are considered to be close to their fair values as of the reporting date[58] - The company has not repurchased, sold, or redeemed any of its listed securities during the period[63]

Financial Performance - Total revenue for the year ended 30 September 2023 was HK$441.0 million, a decrease of 13.9% from HK$512.8 million in 2022[11]. - Net impairment allowances decreased to HK$403.6 million from HK$590.1 million, leading to a narrowed net loss of HK$160.6 million compared to HK$299.2 million in the previous year[13]. - Basic loss per share improved to HK2.38 cents from HK4.44 cents year-on-year[11]. - The Group's financing revenue was HK$323.1 million, down from HK$418.5 million in 2022, reflecting a decline of 22.8%[11]. - Brokerage services revenue increased to HK$98.2 million, up 28.7% from HK$76.4 million in 2022[11]. - The Group's financing segment revenue decreased to HK$323.1 million in 2023 from HK$418.5 million in 2022, accounting for 73.3% of total revenue[24]. - Revenue from the brokerage services segment increased to HK$98.2 million in 2023 from HK$76.4 million in 2022, representing 22.2% of total revenue[26]. - Corporate finance segment revenue rose to HK$13.3 million in 2023 from HK$11.1 million in 2022, making up 3.0% of total revenue[31]. - Revenue from the placing and underwriting segment was HK$6.5 million in 2023, slightly down from HK$6.8 million in 2022, accounting for 1.5% of total revenue[33]. Economic Environment - The macro-economic environment was volatile due to global events, affecting investment sentiment and business confidence[14]. - The cautious approach of banks and money lenders led to tightened credit control, impacting the financing market significantly[15]. - The Hang Seng Index fluctuated between a low of 14,687 and a high of 22,689 during the year, closing at 17,810 on 29 September 2023[15]. Strategic Initiatives - The Group launched the eGOi app to enhance customer trading experience and optimize retail market competitiveness[26]. - The Group plans to strengthen its wealth solutions team and expand its high net worth customer base with tailored solutions[40]. - The Group aims to optimize its eGOi application to strengthen its competitiveness in the retail market segment[41]. - The Group plans to enhance its wealth management solutions and expand its high-net-worth client base through tailored solutions and improved product offerings[41]. - The Group's strategic position in Hong Kong as a gateway to the Greater Bay Area is expected to benefit its business development amid global economic interconnectivity[41]. - The Group will maintain a prudent approach and adopt appropriate strategies to seize opportunities while ensuring stable business growth in a challenging economic environment[41]. Impairment and Risk Management - The total impairment allowances recognized for the year amounted to HK$403.6 million, a decrease from HK$590.1 million in 2022, primarily related to margin clients and borrowers[50]. - The net provision for impairment of accounts receivable from margin financing was approximately HK$204.4 million, with total gross carrying amounts of HK$1,336.8 million assessed as credit-impaired[52]. - An additional impairment allowance of approximately HK$94.9 million was recognized for eight loans, with a total gross carrying amount of approximately HK$440.8 million as of September 30, 2023, due to a decrease in fair value of pledged securities and properties[55]. - Loans and advances to twenty-six borrowers, totaling approximately HK$434.9 million, were assessed as credit-impaired, leading to impairment allowances of approximately HK$124.3 million for the year[55]. - The Group has established debt recovery procedures, including issuing demand letters and engaging external legal advisors for overdue loans[56]. - Legal proceedings on credit-impaired loans are ongoing, indicating active management of impaired assets[57]. - The Group's cautious approach includes stringent credit risk management to minimize default risks[24]. Corporate Governance - The Company is committed to high standards of corporate governance, ensuring accountability and transparency towards stakeholders[174]. - The Company complied with the Corporate Governance Code provisions, except for the separation of roles between the chairman and CEO[175]. - The Directors' remuneration policy is aligned with business strategy and market best practices, ensuring no individual determines their own remuneration[166]. - Employee remuneration is based on individual performance and market pay levels, including various components such as basic salaries and discretionary bonuses[167]. - The Board consists of six Directors, including three Executive Directors and three Independent Non-Executive Directors (INEDs), ensuring a diverse mix of skills and experience[183][188]. - The Board's gender diversity is relatively high, with three female directors, representing 50% of the Board, exceeding the target of at least 25% female directors[195][198]. - The Board has established mechanisms to ensure independent views are available, including annual meetings between the Chairperson and all INEDs without the presence of other Directors[188]. - The INEDs have confirmed their independence, and the Board considers each of them to be independent based on the annual review conducted by the Nomination Committee[197][198]. - The Company adopted a Board Diversity Policy to achieve a diverse Board with a balance of skills, experience, and perspectives relevant to the business[189]. Shareholder Information - The Board has resolved not to recommend any final dividend for the year, consistent with the previous year[60]. - The Company did not pay any interim dividend for the Year, and no final dividend was recommended, consistent with the previous year[83]. - As of September 30, 2023, the Company's reserves available for distribution to shareholders amounted to approximately HK$102.0 million in contributed surplus and HK$303.7 million in accumulated losses, compared to HK$102.0 million and HK$460.9 million respectively in 2022[96]. - The aggregate turnover attributable to the Group's five largest customers accounted for 6% of the total turnover, down from 15% in 2022, with the largest customer contributing 2% compared to 5% in the previous year[107]. Employment and Workforce - As of September 30, 2023, the Group employed 83 account executives and 139 employees, with total staff costs of approximately HK$72.0 million[58]. - The total workforce is composed of 45% female and 55% male, while senior management comprises 44% female and 56% male, reflecting appropriate gender diversity[196][198]. Related Party Transactions - The Company had transactions with connected persons during the year, where a Director had material interests[141]. - The Company confirmed compliance with the disclosure requirements under the Listing Rules regarding non-exempt CCTs, with no significant transactions involving Directors or their connected entities during the year[161]. - The Company has complied with the relevant disclosure requirements regarding related party transactions under Chapter 14A of the Listing Rules[158].

Financial Performance - Total revenue for the six months ended March 31, 2023, decreased to HKD 190,344,000 from HKD 244,810,000 in 2022, representing a decline of approximately 22%[4] - Net profit for the period was HKD 45,223,000, a turnaround from a net loss of HKD 35,013,000 in the previous year[4] - The group reported a pre-tax profit of HKD 51,341,000, compared to a loss of HKD 27,468,000 in the previous year[35] - The company reported a profit of HKD 45,223,000 for the period, compared to a loss of HKD 35,013,000 in the previous period, indicating a turnaround in performance[41] - The company reported a profit before tax of HKD 51,341,000 for the six months ended March 31, 2023, compared to a loss of HKD 27,468,000 in the same period of 2022[63] Revenue Breakdown - Loan income for the group was HKD 136,075,000, accounting for 71.5% of total revenue, down from 83.1% in 2022[10] - Brokerage services revenue increased to HKD 49,725,000, representing 26.1% of total revenue, compared to 14.7% in the previous year[11] - Corporate finance revenue rose to HKD 4,315,000, making up 2.3% of total revenue, up from 1.6% in 2022[14] - Commission and fee income for the same period was HKD 34,152,000, down from HKD 39,332,000, representing a decline of 5.5%[35] - Interest income decreased to HKD 156,192,000 from HKD 205,478,000, reflecting a decline of 23.9%[35] Asset and Liability Management - As of March 31, 2023, the group's current assets were HKD 4,953,800,000, while current liabilities were HKD 1,947,200,000[18] - The company's total liabilities decreased to HKD 1,947,212,000 as of March 31, 2023, compared to HKD 2,134,485,000 as of September 30, 2022, reflecting a reduction of about 8.8%[39] - The group's bank borrowings decreased to HKD 310,000,000 from HKD 430,000,000, with a debt-to-equity ratio of 8.6%[18] - The company's equity increased to HKD 3,595,564,000 as of March 31, 2023, compared to HKD 3,550,341,000 as of September 30, 2022, marking an increase of about 1.3%[39] Cash Flow and Investments - The net cash generated from operating activities for the six months ended March 31, 2023, was HKD 85,749,000, down from HKD 173,532,000 in the same period of 2022, representing a decline of approximately 50.5%[43] - The cash used in investing activities was HKD (2,265,000) for the six months ended March 31, 2023, compared to HKD (1,507,000) in the same period of 2022, indicating an increase in cash outflow[43] - The net cash and cash equivalents at the end of the period were HKD 824,280,000, down from HKD 860,796,000 at the beginning of the period, indicating a decrease of approximately 4.2%[43] Risk Management - The group has implemented risk management processes including risk identification, assessment, and monitoring to mitigate various risks[21] - The company has a credit impairment policy in place to mitigate credit risk, with assessments based on recoverability estimates and aging analysis[83] - The company’s management regularly reviews credit limits for individual clients to manage credit risk effectively[84] Employee and Management Information - The total employee costs for the period were approximately HKD 35,725,000, down from HKD 41,567,000, indicating a reduction of 14.1%[32] - The group has a total of 84 client managers and 128 employees as of March 31, 2023, compared to 78 and 141 respectively in 2022[32] - The total remuneration paid to key management personnel for the six months ended March 31, 2023, was HKD 2,757,000, down from HKD 4,429,000 in the previous year, representing a decrease of 38%[94] Corporate Governance - The company has complied with the corporate governance code, except for the separation of roles between the Chairman and CEO, which are held by the same individual[102] - The interim financial statements have not been audited or reviewed by the company's auditor but have been reviewed by the audit committee[106] Shareholder Information - The company has not declared any interim dividend for the period, consistent with the previous year[33] - The company’s issued and paid-up share capital remained unchanged at HKD 67,408,000 as of March 31, 2023, with 6,740,846,000 shares issued[89] - As of March 31, 2023, Yang Shoucheng Capital Holdings holds 2,879,521,438 shares, representing 42.72% of the voting rights[99] - CDM Trust, as a discretionary trustee, also holds 2,879,521,438 shares, equating to 42.72% of the voting rights[99]

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，概不對因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：717） 2022/2023年度之中期業績公告 英皇資本集團有限公司（「本公司」）之董事會（「董事會」或「董事」）宣佈本公司及 其附屬公司（統稱為「本集團」）截至2023年3月31日止6個月（「本期間」）之未經審 核綜合業績。 財務概要 千港元 截至3月31日止6個月 2023年 2022年 總收入 190,344 244,810 貸款 136,075 203,361 經紀服務 49,725 35,961 企業融資 4,315 4,010 ...

Financial Performance - Total revenue for the year ended 30 September 2022 decreased to HK$512.8 million, down 24.3% from HK$676.8 million in 2021[10]. - Net loss attributable to owners of the Company narrowed to HK$299.2 million, compared to a loss of HK$576.1 million in 2021, representing a 48.0% improvement[12]. - Basic loss per share improved to HK4.44 cents, down from HK8.55 cents in the previous year[12]. - The Group's financing segment generated revenue of HK$418.5 million in the year, a decrease from HK$548.4 million in 2021, accounting for 81.6% of total revenue[20]. - Revenue from brokerage services was HK$76.4 million, down from HK$99.3 million in 2021, representing 14.9% of total revenue[25]. - The placing and underwriting segment's revenue decreased to HK$6.8 million from HK$16.3 million in 2021, accounting for 1.3% of total revenue[29]. - Corporate finance segment revenue was HK$11.1 million, slightly down from HK$12.7 million in 2021, making up 2.2% of total revenue[31]. Market Conditions - The average daily turnover in the Hong Kong securities market decreased by 26.5% year-on-year during the first half of 2022[13]. - The Hang Seng Index dropped 29.9% from 24,576 on 30 September 2021 to 17,223 on 30 September 2022[13]. - The number of corporate exercises, including initial public offerings, significantly decreased amid volatile market conditions[13]. - The global macroeconomic environment has been challenging due to geopolitical tensions, supply chain disruptions, and inflationary pressures[13]. - The outlook indicates potential challenges due to economic uncertainties, but the reopening of borders is expected to benefit Hong Kong's capital market[36]. Asset and Liability Management - As of September 30, 2022, the Group's current assets were HK$4,984.9 million, down from HK$6,106.3 million in 2021, while current liabilities decreased to HK$2,134.5 million from HK$2,942.3 million[41]. - The Group's total borrowings decreased to HK$430.0 million from HK$869.1 million in 2021, resulting in a reduced gearing ratio of 12.1% compared to 22.6% in the previous year[42]. - The Group's available unutilized banking facilities were HK$2,049.0 million, down from HK$2,301.2 million in 2021, indicating sufficient working capital for operations and future development[45]. Impairment and Provisions - Impairment allowances for margin loans and other loans decreased to HK$590.1 million, a reduction of 37.1% from HK$939.3 million in 2021[12]. - The Group recognized an impairment of HK$590.1 million for the year, down from HK$939.3 million in 2021, primarily related to margin clients and borrowers[48]. - The net provision for impairment of loans and advances amounted to approximately HK$318.1 million, with an additional impairment allowance of approximately HK$293.7 million recognized for twenty-four loans assessed as credit-impaired[51]. - The impairment provision for eight margin financing clients was approximately HK$383.2 million, primarily due to a decline in the market price of pledged securities[50]. Corporate Governance - The Board is composed of five Directors, including two Executive Directors and three Independent Non-executive Directors, ensuring a balance of power and expertise[180]. - The Company complied with all code provisions of the Corporate Governance Code except for the separation of the roles of chairman and chief executive officer[178]. - Each independent non-executive director has confirmed their independence, and the Board considers them independent based on the factors outlined in Rule 3.13 of the Listing Rules[188]. - The Company has arranged appropriate insurance coverage for legal actions against the Directors, ensuring protection for their responsibilities[198]. - The Company has implemented a procedure for Directors to seek independent professional advice at the Company's expense to assist them in performing their duties[192]. Employee and Operational Costs - Total staff costs, including directors' remuneration, were approximately HK$72.9 million, a decrease from HK$77.9 million in 2021, with the number of employees increasing slightly to 207[55]. - The total employee cost, including directors' remuneration, was approximately HKD 72,900,000 for the year ending September 30, 2022, compared to HKD 77,900,000 in 2021, reflecting a decrease of about 6.4%[58]. Dividends and Shareholder Information - The Group did not recommend any payment of final dividend for the year ended September 30, 2022, consistent with the previous year[56]. - The Group did not pay any interim dividend for the Year, and no final dividend was recommended, consistent with the previous year[79]. - The reserves available for distribution to Shareholders as of September 30, 2022, included a contributed surplus of approximately HK$101.9 million and accumulated losses of HK$460.9 million[88]. - The Group's five largest customers accounted for 15% of total turnover, with the largest customer contributing 5%[100]. Related Party Transactions - The Group has agreed to provide brokerage services, wealth management, and financial advisory services under the Emperor Group FSA[150]. - The maximum margin loan amount to the Yeung Family was HK$58,660,000[156]. - The Company has complied with the disclosure requirements under Chapter 14A of the Listing Rules for related party transactions[159]. - The Group's auditor issued an unqualified letter regarding the Disclosed Continuing Connected Transactions (CCTs) in accordance with the Listing Rules[161]. Charitable Contributions - The Group made charitable donations amounting to HK$22,000 during the Year[170].

Financial Performance - Total revenue for the year ended September 30, 2022, decreased to HKD 512.8 million, down 24.3% from HKD 676.8 million in 2021[4] - Loan income for the group was HKD 418.5 million, representing 81.6% of total revenue, a decrease of 23.7% from HKD 548.4 million in 2021[9] - Brokerage services revenue fell to HKD 76.4 million, accounting for 14.9% of total revenue, down 23.0% from HKD 99.3 million in 2021[11] - The group reported a net loss of HKD 299.2 million, a significant reduction from a net loss of HKD 576.1 million in 2021[6] - The company reported a loss before tax of HKD 290,581,000 for the year, compared to a loss of HKD 541,560,000 in the previous year[50] - The total loss for the year was HKD 299,234,000, an improvement from a loss of HKD 576,094,000 in the previous year[50] - The company incurred a pre-tax loss of HKD 290,581,000 for the year, compared to a loss of HKD 541,560,000 in 2021[29] - Basic loss per share improved to HKD 4.44 in 2022 from HKD 8.55 in 2021, reflecting a reduction of about 48.0%[78] Market Conditions - The average daily turnover in the Hong Kong securities market decreased by 26.5% year-on-year in the first half of 2022[7] - The Hang Seng Index dropped 29.9% from 24,576 points on September 30, 2021, to 17,223 points on September 30, 2022[7] - The company anticipates that the reopening of borders will act as a catalyst for the Hong Kong capital market[15] Asset and Liability Management - As of September 30, 2022, the group's current assets and current liabilities were HKD 4,984,900,000 and HKD 2,134,500,000, respectively, compared to HKD 6,106,300,000 and HKD 2,942,300,000 in 2021[16] - The total bank borrowings decreased to HKD 430,000,000 in 2022 from HKD 869,100,000 in 2021, resulting in a debt-to-equity ratio of 12.1%, down from 22.6% in the previous year[16] - Total liabilities decreased from HKD 2,942,272 thousand in 2021 to HKD 2,134,485 thousand in 2022, reflecting a reduction of about 27.4%[30] - The company's net asset value decreased from HKD 3,849,642 thousand in 2021 to HKD 3,550,341 thousand in 2022, a decline of approximately 7.8%[30] - The total equity remained stable at HKD 3,550,341 thousand in 2022 compared to HKD 3,849,642 thousand in 2021, indicating a slight decrease of about 7.8%[30] Operational Strategies - The group plans to enhance its digital platform and expand its product offerings, including fixed income, funds, and insurance products[15] - The company aims to increase its client base by targeting more high-net-worth individuals in its wealth management business[15] - The group will adopt a prudent approach to business development while strictly controlling operating costs to mitigate downside risks[15] Financial Reporting and Compliance - The company has applied new and revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial statements for the current and prior years[32] - The company anticipates that any changes in the interest rate benchmarks due to the application of the revised standards will not result in significant gains or losses[36] - The company has not early adopted the newly issued and revised Hong Kong Financial Reporting Standards that are not yet effective, including HKFRS 17 and its amendments, which will take effect on January 1, 2023, and January 1, 2024, respectively[37] - The amendments to HKAS 1 clarify the classification of liabilities as current or non-current, emphasizing that the classification should be based on rights existing at the end of the reporting period[39] - The company is focused on ensuring compliance with the new standards and maintaining transparency in its financial reporting practices[41] Revenue Breakdown - Commission and fee income for the year was HKD 85,459,000, down from HKD 125,343,000 in the previous year, reflecting a decrease of about 31.8%[57] - Interest income for the year was HKD 427,365,000, compared to HKD 551,469,000 in the prior year, indicating a decline of approximately 22.5%[58] - Revenue for the year includes customer contract income of HKD 73,982,000 for 2022, down from HKD 112,205,000 in 2021, representing a decrease of approximately 34.3%[59] Impairment and Provisions - The group reported a net impairment of HKD 590,100,000 for the year, a decrease from HKD 939,300,000 in 2021, primarily related to margin clients and borrowers[20] - The net impairment provision for receivables decreased to HKD 272,022,000 in 2022 from HKD 658,575,000 in 2021, a reduction of about 58.7%[68] - The company reported a net impairment provision for loans and advances of HKD 318,073,000 in 2022, compared to HKD 280,727,000 in 2021, an increase of about 13.3%[68] Employee and Operational Costs - Employee costs totaled approximately HKD 72,900,000, down from HKD 77,900,000 in the previous year, with a workforce of 207 employees[26] - The company incurred financial costs of HKD 26,845,000 for the year, compared to HKD 71,516,000 in the previous year, showing a significant reduction[52] Dividends and Share Capital - The board did not recommend any final dividend for the year ending September 30, 2022, consistent with the previous year[27] - The total issued and paid-up share capital remained unchanged at HKD 67,408,000 as of September 30, 2022, consistent with the previous year[99]

Financial Performance - Total revenue for the six months ended March 31, 2022, decreased to HKD 244.8 million, down 29.4% from HKD 346.6 million in 2021[4] - The group reported a net loss of HKD 35 million, compared to a profit of HKD 53.7 million in the same period of 2021, resulting in a basic loss per share of HKD 0.52[4] - Total revenue for the six months ended March 31, 2022, was HKD 244,810,000, a decrease of 29.4% from HKD 346,586,000 in the same period of 2021[66] - The company reported a loss before tax of HKD 27,468,000 for the six months ended March 31, 2022, compared to a profit before tax of HKD 66,516,000 for the same period in 2021[67] - The total loss for the period ended March 31, 2022, was HKD 35,013,000, reflecting a significant decline from the profit of HKD 53,679,000 reported in the previous year[67] Revenue Breakdown - Loan income for the group was HKD 203.4 million, accounting for 83.1% of total revenue, compared to 81.7% in 2021[8] - Brokerage services revenue fell to HKD 36 million, representing 14.7% of total revenue, down from 15.9% in 2021[10] - The income from the placement and underwriting segment was HKD 1.5 million, accounting for 0.6% of total revenue, a decrease from 1.4% in 2021[11] - Corporate finance segment revenue slightly increased to HKD 4 million, representing 1.6% of total revenue, up from 1.0% in 2021[12] - Commission and fee income dropped to HKD 39,332,000, down 36.5% from HKD 61,818,000 year-on-year[34] Expenses and Costs - Employee costs totaled approximately HKD 41,600,000, an increase of 4.5% from HKD 39,800,000 in 2021[34] - The company reported a significant increase in administrative expenses related to IT services paid to related companies, which rose to HKD 9,191,000 from HKD 6,502,000, marking an increase of 41.0%[114] Assets and Liabilities - As of March 31, 2022, the group's current assets and current liabilities were HKD 5,970,700,000 and HKD 2,822,400,000 respectively, compared to HKD 6,106,300,000 and HKD 2,942,300,000 as of September 30, 2021[16] - The total bank borrowings increased to HKD 460,000,000 as of March 31, 2022, up from HKD 370,000,000 as of September 30, 2021, while total borrowings decreased to HKD 725,100,000 from HKD 869,100,000, resulting in a debt-to-equity ratio of 19.0%[17] - The group had cash and bank deposits totaling HKD 1,043,800,000 as of March 31, 2022, compared to HKD 1,024,100,000 as of September 30, 2021[16] - The total assets decreased slightly to HKD 6,106,262,000 from HKD 6,106,262,000 as of September 30, 2021[41] - The company’s total equity as of March 31, 2022, was HKD 3,814,629,000, a slight decrease from HKD 3,849,642,000 at the end of the previous period[41] Risk Management - The group has identified several significant risks, including credit risk, liquidity risk, and operational risk, and has implemented measures to manage these risks effectively[20] - The credit risk committee regularly reviews overdue accounts and ensures timely action is taken to recover outstanding debts[21] - The group has established policies to monitor customer concentration risk and stock concentration risk, conducting stress tests to assess credit risk and capital adequacy[23] - The group maintains sufficient liquidity to meet its operational obligations and has adequate backup financing arrangements[27] Corporate Governance - The company has complied with all provisions of the Corporate Governance Code during the reporting period, except for the separation of roles between the Chairman and the CEO[127] - The interim financial statements included in the report have not been audited or reviewed by the company's auditor, Deloitte[130] Shareholder Information - The company’s major shareholder, Ms. Yang Dai Shi, holds 42.72% of the voting rights in the company, with 2,879,521,438 shares attributed to her[118] - The total issued and paid-up share capital remained unchanged at 6,740,846,000 shares as of March 31, 2022[110] Future Outlook - The outlook for the financial market remains uncertain due to ongoing international events, but Hong Kong's position in the global capital market is expected to strengthen[14] - The company expects that the application of all other new and revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[53]

Financial Performance - Total revenue for the six months ended March 31, 2022, decreased to HKD 244.81 million, down 29.4% from HKD 346.59 million in 2021[3]. - The company reported a net loss of HKD 35.01 million, compared to a profit of HKD 53.68 million in the previous year[3]. - Total revenue for the six months ended March 31, 2022, was HKD 244.8 million, a decrease of 29.4% from HKD 346.6 million for the same period in 2021[23]. - The company reported a loss attributable to shareholders of HKD 35.0 million for the period, compared to a profit of HKD 53.7 million in the previous year[23]. - The company reported a pre-tax loss of HKD 35,013,000 for the six months ended March 31, 2022, compared to a profit of HKD 53,679,000 for the same period in 2021, indicating a significant decline in performance[52]. Revenue Breakdown - Loan income for the same period was HKD 203.36 million, representing 83.1% of total revenue, compared to 81.7% in 2021[7]. - Brokerage service revenue was HKD 35.96 million, accounting for 14.7% of total revenue, down from 15.9% in 2021[10]. - The income from the placement and underwriting segment was HKD 1.48 million, representing 0.6% of total revenue, down from 1.4% in 2021[11]. - Corporate finance segment revenue slightly increased to HKD 4.01 million, accounting for 1.6% of total revenue, up from 1.0% in 2021[12]. - Commission and fee income dropped to HKD 39.3 million, down 36.5% from HKD 61.8 million in the previous year[23]. - Interest income decreased to HKD 205.5 million, down 28.0% from HKD 284.8 million year-on-year[23]. Asset and Liability Management - As of March 31, 2022, the company's current assets were HKD 5.97 billion, while current liabilities were HKD 2.82 billion[15]. - The company's bank borrowings increased to HKD 460 million as of March 31, 2022, compared to HKD 370 million as of September 30, 2021, resulting in a total debt of HKD 725.1 million, down from HKD 869.1 million[18]. - The equity-to-debt ratio decreased to 19.0% as of March 31, 2022, from 22.6% as of September 30, 2021[18]. - The total value of loans and receivables as of March 31, 2022, was HKD 3,846,396,000, an increase from HKD 3,537,461,000 as of September 30, 2021, showing a growth of approximately 8.7%[56]. - The company’s total assets as of March 31, 2022, were HKD 2,602,084,000, compared to HKD 2,511,012,000 as of September 30, 2021, indicating an increase of approximately 3.6%[54]. Impairment and Credit Risk - Impairment provisions for loans increased to HKD 161.81 million from HKD 140.10 million in 2021[7]. - The impairment provision for credit losses was HKD 1,126,000,000 as of March 31, 2022, compared to HKD 1,187,000,000 as of September 30, 2021, showing a reduction of approximately 5.1%[73]. - The overdue receivables amounted to HKD 2,918,000 as of March 31, 2022, compared to HKD 2,420,000 as of September 30, 2021, which is an increase of about 20.6%[72]. - The company has established a credit policy to ensure all loans and receivables are subject to credit risk assessment and ongoing monitoring[59]. - The company has ongoing legal proceedings related to credit impairment loans totaling approximately HKD 574,000,000, with a provision for impairment of about HKD 487,000,000 as of March 31, 2022[59]. Corporate Governance and Future Plans - The company aims to maintain stable business development while controlling operating costs and reducing downside risks[15]. - The company plans to strengthen its wealth management business by offering more unique and high-quality investment products[15]. - The board has resolved not to declare any interim dividend for the fiscal year ending September 30, 2022[21]. - The company has complied with all provisions of the Corporate Governance Code as per the Listing Rules, except for the separation of roles between the Chairman and the CEO, which are held by the same individual[81]. - The company has adopted its own securities trading code for directors, which meets or exceeds the standards set out in the Listing Rules[82].

Financial Performance - Total revenue for the year ended September 30, 2021, decreased to HK$676.8 million, down 26.2% from HK$917.4 million in 2020[10] - Financing revenue was HK$548.4 million, a decline of 29.5% compared to HK$779.2 million in the previous year[11] - Net loss attributable to owners of the Company was HK$576.1 million, an improvement from a loss of HK$689.7 million in 2020[14] - Basic loss per share improved to HK8.55 cents from HK10.23 cents in the prior year[11] - The Group's financing segment revenue was HK$548.4 million, down from HK$779.2 million in 2020, accounting for 81.0% of total revenue[22] - Revenue from brokerage services decreased to HK$99.3 million from HK$115.6 million in 2020, representing 14.7% of total revenue[25] - The placing and underwriting segment's revenue increased to HK$16.3 million from HK$13.4 million in 2020, accounting for 2.4% of total revenue[29] - Corporate finance segment revenue rose to HK$12.7 million from HK$9.1 million in 2020, making up 1.9% of total revenue[31] Impairment and Risk Management - Impairment allowances for margin loans and other loans decreased to HK$939.3 million from HK$1,327.3 million in 2020, reflecting a reduction of 29.4%[14] - An impairment of HK$939.3 million was recognized during the year, down from HK$1,327.3 million in 2020, primarily related to margin clients and borrowers[51][54] - The net provision for impairment of accounts receivable from margin financing amounted to approximately HK$659 million, with eleven advances assessed as credit-impaired totaling approximately HK$1,492 million[51][57] - The total gross carrying amount of loans and advances assessed as credit-impaired stage was approximately HK$259 million, with an impairment provision of about HK$238 million recognized during the year[60] - The total net impairment allowance for loans and advances was approximately HK$280 million[61] - The Group will actively review its loan portfolio and receivables to mitigate default risks amid an uncertain economic outlook[39] - The Group's proactive credit risk management includes tightening loan approval procedures and adjusting interest rates and loan-to-value ratios[22] Market Conditions and Outlook - The overall global economic environment improved, but regional capital market development was hindered by geopolitical tensions and credit crises among major property developers[15] - The Company faced a tough business operating environment, leading to a significant revenue decrease[14] - Future outlook remains cautious due to ongoing geopolitical issues and market volatility[15] - The economic outlook remains gloomy with market instability expected to persist, prompting the Group to review its loan portfolio and conduct comprehensive collateral assessments[38] - The Group will adopt a prudent approach to mitigate risks while seeking opportunities for steady business development[38] Corporate Governance and Management - Daisy Yeung has over 25 years of management experience in the financial industry, focusing on corporate strategy and business development[75] - Louisa Choi has over 23 years of experience in the finance industry, covering securities, futures, and corporate finance[80] - Pearl Chan has more than 20 years of experience in corporate finance and was previously a practicing lawyer in Hong Kong[81] - The Board includes independent non-executive directors with extensive experience in banking, finance, and corporate governance[85][86][87] - The Company confirmed that all Independent Non-executive Directors are independent as per Rule 3.13 of the Listing Rules[186] Shareholder Information - The Company's reserves available for distribution to Shareholders as of September 30, 2021, amounted to approximately HK$101.9 million and HK$442.1 million in accumulated loss[98] - As of September 30, 2021, Ms. Daisy Yeung held a total of 2,879,521,438 shares, representing approximately 42.72% of the issued voting shares[120] - Ms. Choi Suk Hing, Louisa, and Ms. Pearl Chan held 4,680,000 shares (0.07%) and 2,925,000 shares (0.04%) respectively[120] - The aggregate turnover from the Group's five largest customers accounted for 18% of total turnover, an increase from 14% in 2020[111] - The largest customer contributed 4% to the Group's total turnover, down from 5% in 2020[111] Related Party Transactions - The company has a continuing connected transaction relationship with Emperor International, controlled by a private discretionary trust established by Dr. Albert Yeung[155] - Ms. Daisy Yeung, a director, has a deemed interest in the transactions due to her status as an eligible beneficiary of the trust controlling Emperor International[155] - The financial services agreement with AY Holdings is effective from October 1, 2018, to September 30, 2021, providing brokerage, wealth management, and financial advisory services[158] - The total commission, brokerage, fees, and interest income from listed members under AY Holdings for the year amounted to HK$39,000[161] - The financial advisory fee from the listed members of the Emperor Group was HK$2,730,000 for the year[161] Employee and Director Remuneration - The emoluments of the Directors are determined by the Board based on a written remuneration policy aligned with business strategy and shareholder interests[187] - The remuneration package for employees includes basic salaries, discretionary bonuses, and competitive fringe benefits[188] - The Group had 75 account executives and 130 employees as of September 30, 2021, with total staff costs of approximately HK$77.9 million[72] Financial Position - As of September 30, 2021, the Group's current assets were HK$6,106.3 million, down from HK$9,326.0 million in 2020, while current liabilities decreased to HK$2,942.3 million from HK$4,582.6 million[42][45] - The total carrying amount of the Company's outstanding HK$ bonds was approximately HK$499.1 million, a decrease from HK$1,394.6 million in 2020, with a coupon interest rate of 5.25% per annum[43][46] - The Group's total borrowings, excluding IPO financing, decreased to HK$869.1 million from HK$1,394.6 million, resulting in a reduced gearing ratio of 22.6% compared to 31.5% in 2020[44][46] Charitable Contributions - The Group made charitable donations amounting to approximately HK$27,000 during the Year[196] Auditor and Compliance - The auditor Deloitte Touche Tohmatsu will retire and offer itself for re-appointment at the 2022 AGM[197] - The Group's auditor issued an unqualified letter regarding the disclosed continuing connected transactions[183] - The Company has complied with the disclosure requirements under Chapter 14A of the Listing Rules regarding related party transactions[183] - There was sufficient public float of at least 25% of the Company's issued Shares as required under the Listing Rules[195]

Financial Performance - Total revenue for the six months ended March 31, 2021, was HKD 346,586,000, a decrease of 30% compared to HKD 494,453,000 in 2020[7] - The net profit for the period was HKD 53,679,000, a significant turnaround from a net loss of HKD 268,067,000 in 2020[7] - Basic earnings per share were HKD 0.80, compared to a loss per share of HKD 3.98 in 2020[8] - Commission and fee income reached HKD 61,818,000, up from HKD 53,804,000 in the same period of 2020, while interest income decreased to HKD 284,768,000 from HKD 440,649,000[35] - The company reported a profit attributable to owners of HKD 53,679,000, a significant recovery from a loss of HKD 268,067,000 in the previous year[35] - The basic and diluted earnings per share for the period was HKD 7.96, a recovery from a loss per share of HKD 39.73 in the same period last year[79] - The total operating expenses for the period were HKD 41,029,000, slightly up from HKD 40,397,000 in the previous year, indicating a marginal increase of about 1.6%[75] Revenue Breakdown - Loan segment revenue decreased to HKD 283,200,000, accounting for 81.7% of total revenue, down from 86.5% in 2020[12] - Brokerage services revenue was HKD 55,100,000, representing 15.9% of total revenue, an increase from 11.9% in 2020[13] - The placement and underwriting segment generated revenue of HKD 5,000,000, up from HKD 3,100,000 in 2020, accounting for 1.4% of total revenue[14] - Corporate finance segment revenue was HKD 3,400,000, consistent with the previous year, maintaining a 1.0% share of total revenue[16] Asset and Liability Management - As of March 31, 2021, the group's current assets and current liabilities were HKD 7,238,300,000 and HKD 2,769,600,000 respectively, compared to HKD 9,326,000,000 and HKD 4,582,600,000 as of September 30, 2020[19] - The total bank borrowings as of March 31, 2021, were HKD 1,393,000,000, with a debt-to-equity ratio of 31.1%, slightly down from 31.5% as of September 30, 2020[20] - The group had cash and bank deposits totaling HKD 1,324,600,000 as of March 31, 2021, an increase from HKD 852,000,000 as of September 30, 2020[19] - The total amount of receivables from securities trading business was HKD 3,496,377,000 as of March 31, 2021, slightly down from HKD 3,499,512,000 as of September 30, 2020[100] Risk Management - The group has identified significant risks including credit risk and liquidity risk, with measures in place to monitor and manage these risks[24] - The group has established policies to monitor concentration risks related to clients and stocks, conducting stress tests to assess credit risk and capital adequacy[26] - The group maintains a robust internal control system to manage operational risks, ensuring compliance with laws and regulations[29] - The company aims to maintain strict monitoring of receivables from corporate financing to mitigate credit risk[101] Employee and Management Costs - Total employee costs amounted to approximately HKD 39,800,000, an increase from HKD 31,900,000 in 2020, with 76 client managers and 139 employees as of March 31, 2021[32] - The total remuneration paid to key management personnel was HKD 3,250,000 for the six months ended March 31, 2021, compared to HKD 3,821,000 for the same period in 2020[122] Corporate Governance - The company has complied with all provisions of the Corporate Governance Code during the reporting period, except for the separation of the roles of Chairman and CEO[131] - The audit committee, composed of three independent non-executive directors, has reviewed the interim financial statements[135] Shareholder Information - The company did not declare any interim dividend for the fiscal year ending September 30, 2021, consistent with the previous year[33] - The company encourages shareholders to receive the interim report in electronic format to support environmental protection[136]