Financial Performance - The group reported a loss attributable to shareholders of approximately HKD 572.3 million, an increase of about 31.1% compared to the previous year's loss of HKD 436.6 million[6]. - The basic and diluted loss per share for the reporting year was HKD 0.5104, compared to HKD 0.3796 in the previous year[12]. - The company reported a net loss of HKD 560,986 thousand for the year ended December 31, 2023, compared to a net loss of HKD 430,813 thousand in 2022[40]. - The company reported a loss attributable to equity holders of HKD 572,306,000 for 2023, compared to a loss of HKD 436,597,000 in 2022, indicating a worsening of approximately 31%[88]. - The total reported income for 2023 was HKD 493,894 thousand, down from HKD 801,981 thousand in 2022, representing a decrease of approximately 38.3%[39]. Assets and Liabilities - The group's total assets as of December 31, 2023, were approximately HKD 4.45 billion, a significant decrease from HKD 10.74 billion in 2022[30]. - The company's total assets as of December 31, 2023, amounted to HKD 4,559,550 thousand, compared to HKD 10,849,997 thousand as of December 31, 2022[41]. - Total liabilities decreased to HKD 3,306,848 thousand in 2023 from HKD 9,250,639 thousand in 2022, reflecting a reduction of approximately 64.3%[41]. - The net current assets as of December 31, 2023, were HKD 1,188,632,000, compared to HKD 1,565,201,000 in 2022, a decrease of approximately 24%[47]. - The total assets less current liabilities decreased to HKD 1,302,409,000 in 2023 from HKD 1,676,086,000 in 2022, a decline of about 22.3%[47]. Investment and Income - The group's self-managed investment assets totaled approximately HKD 3.5 billion, down from HKD 8.7 billion in 2022, with bond investments accounting for about HKD 2.7 billion[8]. - The investment portfolio generated total income of approximately HKD 267.8 million, a decrease from HKD 538.8 million in the previous year, primarily due to lower interest income from debt securities[120]. - The total income from other sources, including interest income from loans and financing, was HKD 267,778 thousand in 2023, down from HKD 538,839 thousand in 2022, indicating a decrease of approximately 50.4%[38]. - The group's revenue and net investment income decreased by approximately 70.0% to about HKD 155.7 million, down from HKD 519.9 million in the previous year, primarily due to a downturn in the Hong Kong capital market[141]. - The group recorded a net loss of approximately HKD 170.9 million in other investment and financing income, an increase from a loss of approximately HKD 132.8 million in the previous year, primarily due to decreased interest income and declining fair value of investments[160]. Financing and Costs - The group's financing costs amounted to HKD 260.2 million, slightly down from HKD 266.1 million in the previous year[12]. - The total administrative expenses and financing costs amounted to approximately HKD 403.3 million, a decrease from HKD 434.3 million in the previous year[193]. - The total employee costs decreased from HKD 95,046,000 in 2022 to HKD 62,822,000 in 2023, a reduction of approximately 34%[86]. - The group has implemented strict controls over its receivables and has established procedures to assess the credit quality of its clients[93]. - The group has taken multiple steps to recover loans, including initiating legal proceedings and filing for liquidation against borrowers who failed to repay[177]. Credit Risk and Provisions - The expected credit loss for the first stage as of January 1, 2023, was HKD 449,000, while the total expected credit loss for all stages was HKD 141,649,000, indicating a total increase in credit risk provisions[69]. - The expected credit loss provision for margin clients was assessed, with approximately 23% of the balance secured by sufficient collateral as of December 31, 2023, down from 39% in 2022[94]. - The expected credit loss provision was HKD 2,713,000 for both years, indicating stable credit risk management[97]. - The expected credit loss provision for receivable loans was approximately HKD 231,603,000, up from HKD 141,649,000 in the previous year, indicating a significant increase in anticipated credit losses[125]. - The impairment loss recognized for receivables from securities trading was HKD 39,033,000 in 2023, a decrease from HKD 59,599,000 in 2022[95]. Market and Strategic Focus - The company plans to focus on expanding its market presence and enhancing its service offerings in the upcoming fiscal year[36]. - The group actively seeks investment opportunities in high-growth sectors within the Greater China region, focusing on industries with strong competitive advantages[116]. - The group has a rigorous risk management strategy, ensuring that no single bond holding exceeds 5% of the total portfolio at the time of purchase, promoting diversification across different issuers[121]. - The group has maintained a flexible and high liquidity asset allocation strategy, focusing on short to medium-term financing for its loan business[122]. - The group has adopted a cautious development strategy for its securities brokerage and margin financing businesses, focusing on risk control[144]. Shareholder Actions - The company repurchased a total of 12,961,000 shares at prices ranging from HKD 0.27 to HKD 1.70, costing approximately HKD 9,245,000, with 3,498,000 shares canceled during the reporting period[1]. - The company did not declare or pay any dividends for the year ended December 31, 2023[65]. - The group’s total equity attributable to shareholders was approximately HKD 1,252.7 million, down from HKD 1,599.4 million in the previous year[194]. - The average number of ordinary shares for calculating basic and diluted loss per share was 1,121,224,000 in 2023, down from 1,150,093,000 in 2022[88]. - The group has reduced its stake in the Medical Fund from 66.6% to 0%, resulting in the termination of the fund and the redemption of all participating shares[136].

Financial Performance - The company recorded revenue of approximately HKD 265.2 million for the reporting period, representing a year-on-year decline of about 36.4%[132]. - The total income from financial investments, including interest income from debt securities, was HKD 55,811, down from HKD 156,617, a decrease of 64%[35]. - The total investment and financing classification income and net investment loss amounted to approximately -HKD 6.1 million, significantly improved from -HKD 97.7 million in the previous period[151]. - The company reported a total comprehensive loss of HKD 115,841 thousand for the period, compared to a loss of HKD 250,501 thousand in the previous period[49]. - The company reported a pre-tax loss of HKD 275,250 thousand, compared to a loss of HKD 126,544 thousand in the previous year, indicating a significant increase in losses[81]. Assets and Liabilities - As of June 30, 2023, the group's current assets were approximately HKD 7,566.2 million, down from HKD 10,739.1 million as of December 31, 2022[1]. - The group's total assets decreased to HKD 6,117,231 thousand from HKD 9,173,911 thousand as of December 31, 2022, representing a decline of approximately 33.5%[48]. - The company’s total liabilities decreased to HKD 4,636,644 thousand as of June 30, 2023, from HKD 5,574,553 thousand as of December 31, 2022, a decrease of approximately 16.8%[48]. - The group's liquid assets, excluding cash held on behalf of clients, totaled approximately HKD 5,641.7 million, a decrease from HKD 8,536.3 million as of December 31, 2022[1]. - Current liabilities, specifically accounts payable, decreased to HKD 228,571 thousand from HKD 261,375 thousand, a reduction of about 12.5%[48]. Employee and Operational Costs - The total employee cost for the reporting period was approximately HKD 30.6 million, a decrease from HKD 38.9 million in the previous period[7]. - The group had 75 employees as of June 30, 2023, down from 82 employees a year earlier[7]. Investment and Financing Activities - The group issued money market funds during the reporting period, enriching the variety of asset management products and filling gaps in cash management offerings[122]. - The group adapted to market changes by broadening the types of bond underwriting products offered, despite a slight decrease in the number and scale of bond underwriting compared to the previous period[119]. - The group continues to enhance risk control measures in financing operations to achieve an overall balance of risk and return amid a challenging market environment[156]. - The group’s expected credit loss provisions for certain high-yield bonds were increased due to a challenging external environment, including high inflation and rising interest rates[169]. - The group has maintained a steady development of its bond underwriting business despite external pressures, demonstrating resilience in adapting to market conditions[119]. Revenue Streams - The revenue from brokerage and related services increased to HKD 667, compared to HKD 141 in the previous year, representing a growth of 373%[35]. - The revenue from asset management fees, investment advisory services, and performance fees rose to HKD 73,518, up from HKD 63,533, marking a 23% increase[35]. - The asset management segment recorded revenue of approximately HKD 73.5 million, an increase from HKD 63.5 million in the previous period, driven by a rise in average management fees[157]. - The corporate finance and advisory segment reported revenue of approximately HKD 6.4 million, down from HKD 18.2 million in the previous period, resulting in a loss of approximately HKD 3.0 million[158]. Shareholder and Equity Information - The total equity as of June 30, 2023, was HKD 1,480,587 thousand, compared to HKD 1,599,358 thousand as of December 31, 2022, reflecting a decline of around 7.4%[49]. - The total equity attributable to shareholders was approximately HKD 1,480.6 million as of June 30, 2023, down from HKD 1,599.4 million as of December 31, 2022[180]. - The company’s accumulated losses increased to HKD 2,070,965 thousand as of June 30, 2023, compared to HKD 1,800,440 thousand previously, indicating a rise in financial strain[49]. Future Outlook and Strategy - The company plans to focus on market expansion and new product development to enhance future growth prospects[101]. - The company plans to enhance performance by optimizing its bond investment portfolio and expanding licensed business projects such as underwriting and sponsorship[125]. - The company aims to balance risk control with steady development by implementing a "three lines of defense" risk management policy and optimizing asset quality[126]. - The company expects continued volatility in the stock market in the second half of the year but remains committed to solid preparation and enhancing underwriting capabilities[137]. - The company is actively seeking investment opportunities in high-growth industries with strong competitive barriers, particularly in technology and healthcare sectors[148].

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。 民銀資本控股有限公司 CMBC CAPITAL HOLDINGS LIMITED （於百慕達註冊成立之有限公司） :1141 （股份代號 ） 截至二零二三年六月三十日止六個月之 中期業績 民銀資本控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）宣佈本公司及其 附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月（「報告期間」）之簡 明綜合業績，連同截至二零二二年六月三十日止六個月（「上一期間」）之比較數字 載列如下： ...

Economic Overview - In 2022, the global economic growth began to slow down due to the ongoing COVID-19 pandemic and the Russia-Ukraine conflict, leading to persistent inflation and rising commodity prices[7]. - The Hong Kong economy showed weak performance in 2022, with external trade facing challenges and retail services under pressure despite government relief measures[7]. - The labor market stabilized, resulting in a declining unemployment rate, but global economic slowdown weakened overseas demand[7]. - Infrastructure investment remained a key driver for stabilizing economic growth, while the real estate market continued its downward trend[7]. - Future outlook indicates cautious optimism with potential recovery signs in domestic economic activities[7]. - Financial conditions tightened due to significant interest rate hikes by major central banks, impacting local demand[7]. - The outlook for 2023 anticipates continued high interest rates and economic uncertainty, with a focus on risk management and compliance[15]. Company Performance - The group's total revenue for the reporting year was approximately HKD 519.9 million, a decrease of about 36.2% from HKD 815.0 million in the previous year[14]. - The group reported a net loss of approximately HKD 436.6 million, compared to a profit of approximately HKD 291.2 million in the previous year[14]. - Total assets decreased by approximately 25.4% from HKD 145.4 billion at the end of 2021 to approximately HKD 108.5 billion at the end of 2022[14]. - The average daily trading volume of Hong Kong stocks fell by 25% year-on-year to HKD 124.9 billion[8]. - The total amount raised from initial public offerings in the Hong Kong stock market decreased by 68% to approximately HKD 104.6 billion, down from about HKD 331.3 billion in 2021[8]. - The total fundraising amount in the Hong Kong market, including placements and IPOs, was approximately HKD 251.9 billion, a decrease of 67% from about HKD 773.3 billion in 2021[8]. Investment and Financing Strategy - The company is focusing on new product development and technology innovation to enhance market competitiveness[1]. - The company plans to expand its market presence through strategic partnerships and acquisitions[1]. - The company is focusing on investment opportunities in high-growth sectors with strong competitive barriers, particularly in technology innovation and healthcare[26]. - The company is adopting a risk-controlled strategy for financing, offering customized financing solutions including asset-backed loans and acquisition financing[26]. - The company aims to maintain a prudent development strategy for its securities brokerage and margin financing businesses[24]. - The company has increased expected credit loss provisions due to market conditions, including rising interest rates and geopolitical instability, impacting bond investment returns[26]. Risk Management - The group maintained a rigorous risk management strategy, ensuring that no single bond holding exceeded 5% of the total portfolio[33]. - The company has established guidelines to control overall credit and operational risks, monitoring loan recoverability and taking appropriate follow-up actions when financial conditions deteriorate[42]. - The risk management and internal control committee meets semi-annually to review risk management reports and ensure timely improvements[44]. - The management has approved policies to monitor loan recoverability, holding monthly meetings to discuss the repayment progress of each outstanding loan[47]. - The investment committee evaluates the repayment capacity and financial status of borrowers before approving loan transactions, ensuring prudent assessments are made[50]. Corporate Governance - The management team is committed to maintaining transparency and effective communication with stakeholders[1]. - The company has established several committees, including the Nomination Committee, Remuneration Committee, and Development Strategy Committee, to oversee governance and strategic initiatives[93]. - The board includes independent non-executive directors with over 20 years of experience in business operations, capital markets, and accounting[94]. - The company has been recognized for its contributions to the financial sector, with board members receiving various accolades for their professional achievements[93]. - The company has a commitment to maintaining high standards of risk management and internal controls, as evidenced by the establishment of relevant committees[94]. Financial Health - As of December 31, 2022, the group's investment portfolio totaled approximately HKD 8.67 billion, a decrease of about 24.5% from HKD 11.46 billion in 2021[30]. - The group's self-managed investment assets were approximately HKD 8.7 billion, down from approximately HKD 11.5 billion in 2021, with bond investments around HKD 7.5 billion compared to HKD 10 billion in the previous year[32]. - Total income from the investment portfolio for the reporting year was approximately HKD 538.8 million, an increase of about 4.3% from HKD 513.7 million in the previous year[32]. - The total employee cost for the reporting year was approximately HKD 95.0 million, an increase from HKD 93.7 million in the previous year[75]. - The company does not recommend a final dividend for the year ended December 31, 2022, compared to a final dividend of HKD 0.0748 per share in the previous year[73]. Social Responsibility and Sustainability - The group actively participates in social responsibility initiatives and was awarded the "2022 Interbank Market Charity Day Caring Organization" title by several financial institutions[57]. - The company emphasizes environmental protection by encouraging employees to reduce electricity and paper usage, and to use eco-friendly products[135]. - The company encourages clients to issue green bonds and other green financial products, promoting sustainable finance[80]. Shareholder Relations - The company reported a total share buyback of 48,906,500 shares during the fiscal year, with a total cost of approximately HKD 98.1 million, excluding transaction costs[127]. - The board does not recommend the distribution of a final dividend for the reporting year, compared to a final dividend of HKD 0.0748 per share in the previous year[105]. - The company’s dividend policy will depend on various factors, including profitability, financial condition, operational needs, and capital requirements, subject to shareholder approval[106]. - The company confirms that at least 25% of its issued shares are held by the public as of the report date[192].

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，並明確表示不會就本公告全部或任 何部份內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 民銀資本控股有限公司 CMBC CAPITAL HOLDINGS LIMITED （於百慕達註冊成立之有限公司） 1141 （股份代號： ） 截至二零二二年十二月三十一日止年度之 全年業績 民銀資本控股有限公司（「本公司」）之董事（「董事」）會（「董事會」）宣佈本公司及其 附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止年度（「報告年度」）之 綜合業績，連同截至二零二一年十二月三十一日止年度（「上一年度」）之比較數字 載列如下： ...

Loan Portfolio - The total receivable loans of the group at the end of the reporting year amounted to approximately HKD 894,441,000, with the largest borrower accounting for about 22% of this total [15]. - The loans issued ranged from USD 5,000,000 to USD 30,000,000, with annual interest rates between 3% and 12%, and repayment terms of approximately 3 to 12 months [14]. - At the end of the reporting year, the group had issued loans to nine market participants across various industries, including sports, technology, real estate, education, and finance [14]. - The group does not issue loans to individual clients, focusing solely on corporate borrowers [13]. Credit Risk Management - The group has established an expected credit loss model to measure the credit risk associated with loans, with a provision for loan losses amounting to approximately HKD 53,281,000 [16]. - The group monitors the financial status of borrowers and collateral regularly, taking appropriate actions if there are signs of financial deterioration [17]. - The group evaluates the recoverable amount of receivables and incorporates it into the expected credit loss model [25]. - Sufficient impairment losses are recognized for irrecoverable amounts, reviewed by auditors at each reporting date [25]. Borrower Assessment - The group assessed potential borrowers based on their financial stability and operational consistency, with no specific quantitative benchmarks for age, occupation, or minimum income [12]. - The group has no agreements or arrangements with related parties regarding the issuance of loans to borrowers, ensuring independence in its lending practices [14]. Team Composition - The business team consists of 6 members with an average of 7.3 years of experience in the financial industry, while the risk team has 5 members with an average of 8.3 years of experience [17]. Loan Oversight - Management is responsible for overseeing the loan repayment progress and the completion of any milestone events [25]. - The group relies on a three-year unsecured loan from Minsheng International to conduct its financing business, with interest rates set at 3.5% and 2.5% for different periods in 2021 [12].

Financial Performance - The company recorded revenue of approximately HKD 417.1 million for the reporting period, representing a year-on-year decline of about 9.5%[12]. - The net loss for the period was approximately HKD 278.6 million, compared to a net profit of approximately HKD 201.2 million in the previous period[12]. - The group’s revenue decreased by approximately 9.5% from about HKD 461.0 million to approximately HKD 417.1 million due to a downturn in the Hong Kong capital market and reduced financing in the USD bond and IPO markets[28]. - The basic and diluted loss per share was HKD 0.2393, while the previous period's basic and diluted earnings per share were HKD 0.1691 (restated)[25]. - The company reported a loss attributable to shareholders of approximately HKD 278.6 million during the reporting period, compared to a profit of approximately HKD 201.2 million in the previous period[25]. - The net loss before tax for the period was HKD 275,250,000, compared to a profit of HKD 233,808,000 in the previous year[92]. - The company reported a total comprehensive loss of HKD 791,629,000 for the six months ended June 30, 2022, compared to a total comprehensive income of HKD 303,737,000 for the same period in 2021[102]. Asset Management and Investment - The asset management business experienced over 20% growth compared to December 31, 2021, benefiting from an increase in directly managed assets and investment advisory services[15]. - The company aims to enhance asset quality and duration management in its asset management strategy to mitigate the impact of credit events on net asset value[15]. - The group is focusing on core technology companies and those in growth cycles within the Greater China region, particularly in technology innovation and healthcare sectors[32]. - The group maintained a diversified investment strategy, ensuring that no single bond holding exceeds 5% of the total portfolio[40]. - The group reported total employee costs of approximately HKD 38.9 million for the period, compared to HKD 38.6 million in the previous period, with a total of 82 employees as of June 30, 2022[60]. Risk Management - The company increased expected credit loss provisions for bond investments, loans, and structured financing due to heightened credit risks in the market[13]. - The company plans to strengthen credit and market risk management in response to the complex economic environment and ongoing market volatility[24]. - The company emphasizes the importance of compliance and risk control, continuously enhancing its risk management system to ensure steady development[24]. - The group has improved multiple risk management policies and procedures, covering various business areas, to enhance its risk management capabilities[62]. - The company reported a significant increase in impairment losses, with provisions for loans and advances rising to HKD 35,258 thousand from HKD 21,391 thousand year-over-year[138]. Market Conditions - The capital market faced significant challenges due to high inflation, interest rate hikes, and geopolitical tensions, impacting the company's business development[12]. - The company expects that the ongoing geopolitical tensions and the impact of the COVID-19 pandemic will add uncertainty to the global economy and financial markets[19]. - The company anticipates continued volatility in the stock market in the second half of the year, but will maintain solid preparations[18]. - The overall market sentiment remains negative, with significant volatility in asset prices impacting the group's bond investment returns[32]. Corporate Governance - The company is currently seeking a suitable candidate to fill the chairman position following the resignation of the previous chairman[76]. - The independent auditor's review concluded that there were no significant issues with the financial statements prepared in accordance with Hong Kong Accounting Standards[89]. - The company has adopted the standard code of conduct for securities trading by its directors, confirming compliance during the reporting period[79]. - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2022, compared to no dividend in the previous period[63]. Shareholder Information - Major shareholder China Minsheng holds 760,535,477 shares, representing approximately 66.48% of the issued share capital[72]. - The company repurchased a total of 29,325,500 shares at prices ranging from HKD 1.44 to HKD 3.91, with a total cost of approximately HKD 66,306,000[186]. - The total number of issued and fully paid shares as of June 30, 2022, was 1,144,022,000, a decrease from 1,174,467,000 as of December 31, 2021[186]. - The company plans to continue evaluating market conditions for potential future share repurchases and capital management strategies[187]. Financial Position - As of June 30, 2022, the group's current assets were approximately HKD 14,942.8 million, up from HKD 14,405.4 million as of December 31, 2021, with a current ratio of approximately 1.1 compared to 1.2 previously[47]. - The group’s debt amounted to approximately HKD 12,285.0 million, an increase from HKD 10,772.8 million as of December 31, 2021, with a capital debt ratio of approximately 87.1% compared to 79.6% previously[49]. - The company reported a significant impairment loss of HKD 357,433,000, up from HKD 34,768,000 in the prior year[92]. - The company’s accumulated losses increased to HKD (1,610,727,000) as of June 30, 2022, compared to HKD (1,308,540,000) at the beginning of the year[102].

Economic Performance - In 2021, China's GDP grew by 8.1% compared to 2020, ranking among the top in major economies globally[10] - Hong Kong's economy rebounded with a growth of 6.4% in 2021 after a decline of 6.5% in 2020[10] - The global economic recovery faced challenges due to new COVID-19 variants and resulting restrictions, leading to instability in the market environment[10] - The overall economic activity and global trade trends showed improvement, despite ongoing challenges in certain sectors[10] - The fiscal policies implemented have contributed to a recovery in consumer demand[10] Company Financials - The group's total revenue for the reporting year was approximately HKD 815.0 million, a decrease of about 23.6% from HKD 1,067.0 million in the previous year[18] - Net profit for the reporting year was approximately HKD 291.2 million, down about 26.0% from HKD 393.2 million in the previous year[18] - Total assets increased by approximately 30.2% from about HKD 11.17 billion at the end of 2020 to about HKD 14.54 billion at the end of 2021[18] - The group's profit attributable to shareholders for the reporting year was approximately HKD 291.2 million, a decrease of 26.0% from approximately HKD 393.2 million in the previous year[24] - Total revenue, including net investment gains or losses, decreased by 23.6% to approximately HKD 815.0 million, down from approximately HKD 1,067.0 million in the previous year[24] Investment and Fundraising Activities - The total fundraising amount in the Hong Kong capital market was approximately HKD 770.7 billion, an increase of 3.2% compared to about HKD 747.0 billion in 2020[12] - The number of new IPO applications submitted to the Hong Kong Stock Exchange was 5, with 4 successful listings during the reporting year[16] - The group has successfully completed over 163 offshore bond issuances for 129 issuers during the reporting year[16] - The group completed 163 bond underwriting transactions for 129 enterprises, with investment-grade bonds accounting for approximately 76.77% of the total underwriting volume, up from 62.21% in the previous year[28] Revenue and Profit Segments - Revenue from the securities segment was approximately HKD 104.7 million, an increase from approximately HKD 87.2 million in the previous year, while segment profit decreased to approximately HKD 58.5 million from approximately HKD 60.0 million[28] - Direct fixed income investment revenue was approximately HKD 274.9 million, down from approximately HKD 435.0 million in the previous year, with a recorded loss of approximately HKD 10.3 million compared to a profit of approximately HKD 70.9 million in the previous year[32] - Other investment and financing revenue was approximately HKD 242.7 million, down from approximately HKD 359.4 million in the previous year, with segment profit decreasing to approximately HKD 113.4 million from approximately HKD 264.5 million[34] Strategic Development and Risk Management - The company is focused on strategic development and risk management to navigate the complex international landscape[10] - The company aims to leverage market opportunities arising from the gradual recovery of production levels post-pandemic[10] - The group plans to continue exploring acquisition opportunities beneficial for long-term development[22] - The group aims to enhance its financial technology platform and explore a networked, data-driven business system[22] - A comprehensive risk management framework has been established to address various risks, including credit, market, legal compliance, operational, and liquidity risks[73] Corporate Governance and Management - The company has a strong management team with extensive experience in the banking and finance sectors, including members with over 20 years of experience in capital market operations and accounting[82][84] - The company has appointed several independent non-executive directors with significant expertise in finance and law, enhancing its governance structure[82][85] - The company’s board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[118] - The board consists of eight directors, including three executive directors, two non-executive directors, and three independent non-executive directors[177] - The company has established six board committees, including the Audit Committee and the Remuneration Committee, to oversee specific areas of corporate governance[192] Employee Relations and Compensation - The company emphasizes the importance of employee relations and provides competitive compensation and a favorable working environment[114] - The total employee cost for the reporting year was approximately HKD 93.7 million, up from HKD 89.1 million in the previous year[66] - The remuneration range for senior management (excluding directors) during the reporting year included one individual earning between HKD 2,000,001 and HKD 3,000,000 and one individual earning between HKD 3,000,001 and HKD 4,000,000[199] - The company’s remuneration policy is based on individual performance and is regularly reviewed, with discretionary bonuses potentially awarded based on profitability[199] Compliance and Regulatory Matters - The company has implemented measures to ensure compliance with applicable laws and regulations, including regular training and internal inspections[112] - The company is required to comply with the listing rules for transactions exceeding 5% in applicable percentage ratios, necessitating independent shareholder approval[137] - The auditor issued an unqualified opinion regarding the ongoing related transactions, confirming compliance with the relevant annual caps approved by independent shareholders[153] Future Outlook and Strategic Focus - The management remains optimistic about the long-term growth of the Hong Kong and mainland China economies despite the challenges posed by the COVID-19 pandemic[68] - The company will adopt a cautious approach to address potential risks in 2022 while pursuing further business development[68] - The company aims to enhance domestic and international resource integration and collaboration, focusing on joint marketing to strengthen investment banking project sales[69] - The company is committed to becoming the preferred investment bank for clients "going global," striving to reach advanced international industry standards[71]

Financial Performance - The group recorded revenue of approximately HKD 461.0 million, a year-on-year decrease of about 8.1%[10] - Net profit for the period was approximately HKD 201.2 million, an increase of about 21.6% compared to the previous period[10] - The company's profit attributable to shareholders increased to approximately HKD 201.2 million, a rise of about 21.6% compared to the previous period's profit of approximately HKD 165.5 million[23] - Total revenue for the reporting period decreased by approximately 8.1% to about HKD 461.0 million, down from approximately HKD 501.6 million in the previous period[24] - Basic and diluted earnings per share for the period were HKD 0.42, up from HKD 0.35 in the previous year, reflecting a growth of 20%[87] - The total comprehensive income for the period was HKD 303,737,000, significantly higher than HKD 47,578,000 in the prior year[90] - The company reported a pre-tax profit of HKD 201,189 thousand for the six months ended June 30, 2021, compared to HKD 165,450 thousand for the same period in 2020, reflecting a growth of 21.6%[140] Asset Management and Investment - The group achieved significant growth in overseas bond underwriting, with the issuance of investment-grade bonds accounting for over 50% of the total underwriting scale[12] - The group's first public bond fund, the Minsheng Ronghui Greater China Selected Bond Fund, achieved a net value increase of 2.89% (Class I USD) and 2.61% (Class R HKD) as of June 30, 2021[13] - The asset management business is diversifying its client base and product structure, enhancing the brand and influence of the group's asset management services[13] - The group is actively engaged in new product development and market expansion to enhance its asset management capabilities[13] - The group's investment portfolio increased to approximately HKD 105 billion from HKD 82 billion, with total investment income of about HKD 244.4 million, down from HKD 288.0 million in the previous period[32] - Asset management revenue rose to approximately HKD 69.6 million from HKD 62.2 million, with profits increasing from HKD 42.9 million to HKD 55.4 million due to an increase in asset management scale[37] Revenue Breakdown - The securities business contributed revenue of approximately HKD 65.3 million, up from HKD 33.7 million in the previous period, with profit increasing to approximately HKD 41.9 million from HKD 18.3 million[25] - The company completed 9 stock underwriting projects during the reporting period, despite market uncertainties, covering sectors such as internet finance and 5G communication products[16] - For the six months ended June 30, 2021, total revenue from customer contracts was HKD 137,255,000, a 46% increase from HKD 94,126,000 in the same period of 2020[115] - Commission income from brokerage and related services was HKD 4,422,000, up from HKD 365,000, reflecting a significant growth[115] - Underwriting and placement commission income rose to HKD 39,439,000 from HKD 17,052,000, marking a 131% increase[115] - Financial advisory, sponsorship services, and arrangement fees income increased to HKD 23,807,000 from HKD 14,483,000, representing a 64% growth[115] - Interest income from financing and securities margin financing was HKD 79,365,000, down from HKD 119,490,000, indicating a decline[115] - Interest income from debt securities investments was HKD 150,942,000, decreased from HKD 237,962,000, reflecting a significant drop[115] Financial Position and Liabilities - As of June 30, 2021, the total equity attributable to shareholders was approximately HKD 2,738.4 million, up from HKD 2,600.0 million at the end of 2020[41] - As of June 30, 2021, the group's current assets amounted to approximately HKD 14,242.2 million, an increase from HKD 10,955.1 million as of December 31, 2020[44] - The total debt as of June 30, 2021, was approximately HKD 10,690.7 million, an increase from HKD 7,735.0 million as of December 31, 2020[45] - The capital debt ratio was approximately 79.6% as of June 30, 2021, compared to 74.8% as of December 31, 2020[45] - The total liabilities of the group as of June 30, 2021, were not explicitly stated but can be inferred to have changed in relation to the significant changes in assets and equity reported[92] - The company’s total liabilities decreased from HKD 8,427,846 to HKD 11,641,977, suggesting improved financial health[95] Risk Management and Compliance - The group holds licenses for various regulated activities, including securities trading and asset management, ensuring compliance with market requirements[10] - The group emphasizes risk management while seizing market opportunities across different business segments[10] - The company will adopt a cautious approach to project selection and risk management, regularly monitoring and assessing project risks[18] - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period, with some deviations explained[69] - The independent auditor confirmed that there were no significant issues with the interim financial statements prepared in accordance with Hong Kong Accounting Standards[73] Shareholder and Corporate Governance - The company did not recommend any interim dividend for the six months ended June 30, 2021[58] - As of June 30, 2021, major shareholders include China Minsheng holding 30,523,539,093 shares, representing 64.14% of the issued share capital[67] - The company repurchased a total of 79,930,000 shares at a total cost of approximately HKD 8.4 million during the six months ending June 30, 2021[74] - The highest price paid per share during the repurchase was HKD 0.129, while the lowest was HKD 0.095[77] - There were no related party transactions that did not comply with the Listing Rules during the year ending December 31, 2020[78] Employee and Management Costs - The total employee cost for the period was approximately HKD 38.6 million, up from HKD 33.6 million in the previous period[53] - Total compensation paid to key management personnel increased to HKD 10,094,000 for the six months ended June 30, 2021, from HKD 7,102,000 in the previous year[194]

CMBC CAPITAL HOLDINGS LIMITED 於百慕達註冊成立之有限公司 股份代號：1141 年報 2020 d- 目錄 | --- | --- | |--------------------------|-------| | | 頁次 | | 簡稱 | 2 | | 公司資料 | 4 | | 主席報告書 | 5 | | 管理層討論及分析 | 10 | | 董事及高級管理層 | 26 | | 董事會報告 | 31 | | 企業管治報告 | 47 | | 環境、社會及管治報告 | 62 | | 獨立核數師報告 | 77 | | 綜合損益及其他全面收益表 | 86 | | 綜合財務狀況表 | 88 | | 綜合權益變動表 | 91 | | 綜合現金流量表 | 93 | | 綜合財務報表附註 | 95 | | 財務概要 | 195 | 簡稱 | --- | --- | --- | |------------------------------------------------------|-------|------------------------------------------------- ...