Financial Performance - For the six months ended September 30, 2022, the company reported a net loss of HKD 5,106,000 compared to a net loss of HKD 3,230,000 for the same period in 2021, representing a 58% increase in losses[8] - Total revenue for the period was HKD 107,000, a significant increase from HKD 11,000 in the previous year, marking a 872% growth[8] - Operating loss for the six months was HKD 5,100,000, compared to an operating loss of HKD 3,225,000 in the prior year, indicating a 58% increase in operating losses[8] - Basic and diluted loss per share for the period was HKD 0.0215, compared to HKD 0.0187 in the previous year, reflecting a 15% increase in losses per share[8] - The company recorded a loss of approximately HKD 5,106,000 for the six months ended September 30, 2022, compared to a loss of approximately HKD 3,230,000 for the same period in 2021, representing an increase in loss of about HKD 1,876,000[53] - The net investment loss for the period was approximately HKD 7,000, while the same period in the previous year reported a net investment gain of approximately HKD 474,000[53] - General and administrative expenses for the period amounted to approximately HKD 5,200,000, an increase of about HKD 1,490,000 compared to the same period last year, primarily due to increased legal and professional fees, director remuneration, and employee costs[53] Cash and Assets - Cash and cash equivalents at the end of the period were HKD 28,307,000, down from HKD 40,091,000 at the beginning of the period, reflecting a decrease of 29.4%[19] - Current assets totaled HKD 33,792,000, a decrease of 16.5% from HKD 40,544,000 as of March 31, 2022[10] - The company's net asset value was HKD 27,322,000, down from HKD 32,428,000, representing a decline of 15.8%[10] - As of September 30, 2022, the company's cash and bank balance was approximately HKD 28.3 million, down from HKD 40.1 million as of March 31, 2022[62] - The company reported a total of HKD 541,000 in deposits and other receivables as of September 30, 2022, compared to HKD 453,000 as of March 31, 2022, reflecting a 19.4% increase[39] Liabilities and Equity - Current liabilities decreased to HKD 6,472,000 from HKD 8,123,000, a reduction of 20.3%[10] - The company has a debt-to-asset ratio of approximately 0.1 as of September 30, 2022, consistent with the ratio as of March 31, 2022[62] - The company has drawn down HKD 4 million from loans provided by a controlling shareholder, with an outstanding loan amount of approximately HKD 4.015 million as of September 30, 2022[62][61] Investments - As of September 30, 2022, the company held investments in U.S. Treasury securities valued at HKD 4,944,000[32] - The company views U.S. Treasury bonds as a low-risk investment and will adjust its holdings based on market conditions[59] - The company’s investment in U.S. Treasury securities is viewed as a low-risk investment, providing stable interest income[35] - The company had approximately HKD 4,944,000 in U.S. Treasury securities measured at fair value, classified as Level 1 in the fair value hierarchy[45] Corporate Actions - The company did not declare an interim dividend for the period, consistent with the previous year[31] - The company has not reported any new product developments or market expansions during this period[21] - The company has not made any acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[59] - The company has not entered into any agreements for significant investments or capital assets during the period, but will consider future opportunities[77] - The company has no capital commitments or contingent liabilities as of September 30, 2022[70][72] - No significant capital expenditures were made during the period, consistent with the previous six months[76] - The company has not repurchased, sold, or redeemed any of its shares during the period[75] - The company will conduct feasibility studies for any potential investment opportunities that may arise in the future[77] Governance and Management - The company changed its name from "Youth Champ Financial Group Holdings Limited" to "Goldstone Capital Group Limited" effective August 19, 2022[91] - The company has complied with the corporate governance code as per the listing rules during the period[89] - There were changes in the board of directors, including new appointments and resignations effective from various dates in 2022[93] - The Audit Committee, consisting of three independent non-executive directors, reviewed the company's accounting principles and financial reporting matters[97] Economic Outlook - The company anticipates that the Hong Kong economy may recover in the third quarter of 2023 after the end of the interest rate hike trend[54] - The Hang Seng Index has recorded a decline of over 25% since the end of the second quarter of 2022 due to weak economic prospects and high borrowing costs[54] - The company’s management expects that the economic recovery in Hong Kong will depend significantly on interest rates in both Hong Kong and the United States[54] - The company’s management highlighted that the financial environment has tightened significantly due to rising interest rates, posing challenges across various sectors[54] Employee Costs - The company’s employee costs, excluding directors' remuneration, increased to HKD 1,484,000 from HKD 1,098,000, representing a 35.2% rise[30] - As of September 30, 2022, the company had 6 employees, with total employee compensation amounting to approximately HKD 1,614,000, an increase from HKD 1,207,000 in the previous six months[81]

Financial Performance - The company recorded an annual loss of approximately HKD 6,035,000 for the year ending March 31, 2022, a decrease of about HKD 2,344,000 compared to the loss of HKD 8,379,000 in the previous year[6] - Net investment income for the year was approximately HKD 474,000, a significant recovery from a net investment loss of approximately HKD 938,000 in the previous year[6] - General and administrative expenses were approximately HKD 7,590,000, a reduction of about HKD 212,000 from the previous year, primarily due to lower consulting, depreciation, and legal fees[6] - The company received a final distribution of approximately HKD 906,000 from the liquidation of its only investment, the招商和騰科技基金II, L.P.[10] - The company reported a loss for the fiscal year ending March 31, 2022, with detailed cash flow and financial position available in the financial statements[112] - No dividends were recommended for the fiscal year, consistent with the previous year[113] - The company has no distributable reserves as of March 31, 2022, according to Bermuda company law[118] Capital and Investment Activities - The company successfully raised approximately HKD 41.7 million through a rights issue for investment and operational purposes[7] - The company anticipates utilizing funds raised through the rights issue for future investments and business development goals by March 31, 2023[7] - The company plans to use approximately HKD 27.2 million of the raised funds for future investments and business development, with a deadline for utilization by March 31, 2023[23] - The company has no current plans for significant investments or capital assets but is open to future opportunities funded by internal resources[13] - As of March 31, 2022, the company had drawn down HKD 4,000,000 from loans provided by a controlling shareholder, with an unused loan amount of HKD 9,000,000[14] - The company raised approximately HKD 43.8 million from the rights issue, with a net amount of approximately HKD 41.7 million after expenses[20] - A total of 64,471,250 shares were issued under the rights issue, with a total nominal value of HKD 6,447,125[21] Governance and Board Structure - The company has adopted a director nomination policy to ensure a diverse and qualified board, enhancing governance standards[36] - The board of directors held five meetings during the year, with attendance rates for key members ranging from 50% to 100%[45] - The company has established a nomination committee to regularly review its nomination policies to ensure ongoing effectiveness[38] - The board is responsible for formulating the company's development strategy and monitoring business performance[40] - Independent non-executive directors are tasked with participating in board meetings to make independent judgments on company strategy and performance[49] - The company provides full indemnity for directors against costs and liabilities incurred in the execution of their duties[48] - The board has a clear distinction between its responsibilities and those of the management team, with regular reviews of these arrangements[40] - The company has purchased liability insurance for directors and senior officers to provide protection against potential claims[48] - The nomination committee evaluates candidates based on established criteria to determine their suitability for board positions[37] - All directors are provided with comprehensive information to make informed decisions regarding the company's performance and outlook[41] - The board of directors is responsible for ensuring the financial statements reflect a true and fair view of the company's affairs, confirming adequate resources for continued operations in the foreseeable future[50] Audit and Compliance - The Audit Committee held two meetings this year, with a 100% attendance rate from all members[52] - The Remuneration Committee conducted three meetings this year, focusing on the company's remuneration policies and specific compensation for directors and senior management[57] - The Nomination Committee held three meetings this year, addressing matters related to the appointment, retirement, and re-election of directors[59] - The company has established an audit committee in accordance with Listing Rule 3.21, comprising non-executive directors and four independent non-executive directors to oversee financial reporting and internal control systems[147] - The company confirms that all related party transactions have complied with the relevant provisions of the Listing Rules[144] - The company is required to hold an annual general meeting each year and may hold special meetings as necessary[90] - The company has appointed KPMG as its auditor for the year, with the financial statements audited and eligible for reappointment at the upcoming annual general meeting[150] Environmental, Social, and Governance (ESG) Initiatives - The company is committed to enhancing its environmental, social, and governance (ESG) performance and has established a dedicated ESG function to integrate these elements into its operations[157] - The board is responsible for setting the company's ESG management policies, strategies, and objectives, ensuring the effectiveness of the internal control systems[160] - The company emphasizes stakeholder engagement to understand their perspectives and align business practices with their expectations[162] - The ESG report covers key performance indicators related to the company's operations in Hong Kong, reflecting its commitment to transparency and accountability[152] - The company aims to balance shareholder interests with social responsibilities, enhancing data collection for better ESG performance disclosure[157] - The ESG report was approved by the board on June 29, 2022, confirming its completeness and fairness in presenting the company's ESG performance[153] Employee Relations and Development - The total number of employees increased from 8 in 2021 to 10 in 2022, with a 25% employee turnover rate[174] - Male employees increased from 2 to 5, while female employees decreased from 6 to 5[174] - The employee turnover rate for full-time employees was 25% in 2022, compared to 13% in 2021[174] - The company aims to maintain an acceptable employee turnover rate to effectively accumulate professional knowledge and experience[174] - The company emphasizes competitive compensation and benefits to attract and retain talent[170] - The company has established a standardized management system for employee work hours, holidays, and rest periods[171] - The company strictly adheres to equal opportunity and anti-discrimination laws in its hiring practices[172] - The company prioritizes employee health and safety, providing training and improving career advancement mechanisms[170] - The company provided training to 100% of employees, with an average training duration of 24.5 hours per employee in the reporting year[188] - The average training hours for male employees increased from 15.0 hours in the previous year to 17.0 hours in the reporting year[188] - Female employees received an average of 32.1 training hours, up from 19.5 hours in the previous year[188] Community Engagement and Social Responsibility - Community investment focuses on social welfare and environmental issues, with initiatives to support local community sustainability[200] - Employees are encouraged to participate in community activities and charitable events, with flexible working hours to balance work and family needs[200] - The company supports employee participation in civic duties and encourages donations to non-profit organizations[200] - The company has a commitment to environmental sustainability, including participation in initiatives like Earth Hour 2022[200] - The company evaluates potential investments considering environmental, social, and governance factors to create shared value for the community and stakeholders[199]

Financial Performance - For the six months ended September 30, 2021, the net investment income was HKD 474,000, compared to a loss of HKD 9,000 in the same period of 2020, indicating a significant recovery [15]. - Total revenue for the period was HKD 485,000, down 63.46% from HKD 1,310,000 in the previous year [15]. - Operating loss for the period was HKD 3,225,000, an improvement from a loss of HKD 4,112,000 in the same period of 2020, reflecting a 21.56% reduction in losses [15]. - The company reported a loss before tax of HKD 3,230,000, compared to a loss of HKD 4,126,000 in the prior year, showing a 21.69% improvement [15]. - Basic and diluted loss per share was HKD 1.87, an improvement from HKD 2.39 in the same period of 2020 [15]. - The company reported a net loss of approximately HKD 3,230,000 for the six months ended September 30, 2021, compared to a net loss of HKD 4,126,000 for the same period in 2020, representing a 21.8% improvement in losses year-over-year [33]. - The company recorded other income of HKD 11,000 for the six months ended September 30, 2021, compared to HKD 130,000 in the same period of 2020, indicating a decrease of approximately 91.5% [5]. - The company incurred legal and professional fees of HKD 531,000 for the six months ended September 30, 2021, down from HKD 795,000 in the same period of 2020, a decrease of approximately 33.3% [43]. - General and administrative expenses for the period were approximately HKD 3,710,000, a decrease of about HKD 523,000 compared to the previous year [80]. Assets and Liabilities - Total current liabilities decreased to HKD 3,547,000 from HKD 5,521,000 as of March 31, 2021, indicating improved liquidity [20]. - The total assets less current liabilities showed a net liability of HKD 2,449,000, an improvement from HKD 3,223,000 in the previous period [20]. - Non-current liabilities increased to HKD 4,004,000, reflecting new borrowings from a holding company [20]. - The company's capital deficit increased to HKD 6,453,000 from HKD 3,223,000, indicating ongoing financial challenges [20]. - The company’s total liabilities as of September 30, 2021, amounted to HKD 6,453,000, indicating a significant financial obligation [33]. - The company's debt-to-asset ratio was approximately 3.6 as of September 30, 2021, compared to 1.5 as of March 31, 2021 [90]. - The company’s loan from a parent company increased to HKD 4,004,000 as of September 30, 2021, compared to HKD 3,500,000 as of March 31, 2021 [72]. - The loans from the controlling shareholder amounted to approximately HKD 4,004,000 as of September 30, 2021, an increase from HKD 3,500,000 as of March 31, 2021, and are due for repayment by December 31, 2022 [90]. Cash Flow and Liquidity - The company’s cash and cash equivalents decreased by HKD 616,000 during the period, with a closing balance of HKD 711,000 compared to HKD 4,105,000 at the beginning of the period, reflecting a 82.7% reduction in cash reserves [26]. - Cash and cash equivalents decreased to HKD 711,000 as of September 30, 2021, down from HKD 1,327,000 as of March 31, 2021, reflecting a decline of approximately 46.5% [56]. - The company has an unused loan amount of HKD 8,500,000 from its controlling shareholder, Renown Future Limited, which is expected to support future liquidity needs [33]. Investment Activities - The company’s operations are primarily focused on investment activities, with all revenue and performance contributions derived from these activities mainly conducted in Hong Kong [38]. - The company held no investments as of September 30, 2021, following the liquidation of its investment in the fund [51]. - The company exited its investment in the closed-end fund, realizing approximately USD 117,000 (equivalent to about HKD 906,000) from the liquidation of the investment [82]. - The company confirmed a net realized investment gain of approximately HKD 474,000 from the liquidation of its investment in the fund during the period [50]. - The company received a final distribution of approximately HKD 906,000 from the liquidation of the investment in the fund during the period [85]. Corporate Governance - The company has adopted corporate governance principles in compliance with the corporate governance code [116]. - The audit committee consists of three independent non-executive directors who reviewed the company's accounting principles and financial reporting [120]. - The audit committee reviewed the unaudited interim financial statements for the period [121]. - The company has complied with the standards of the "Code of Conduct for Directors" throughout the period [119]. - The company is committed to maintaining high levels of corporate governance practices [116]. Future Outlook and Strategies - The company is focusing on improving operational efficiency and exploring new investment opportunities to enhance future performance [12]. - The company is considering various fundraising activities to strengthen its capital base, including private placements and public offerings [34]. - The board is considering various fundraising activities to strengthen the company's capital base, including private placements and public offerings [93]. - The company maintained a cautious investment approach due to uncertainties in the local stock market and global economic conditions [81]. - Forward-looking statements in the report are based on current market conditions and may differ significantly due to risks and uncertainties [122]. Shareholder Information - Major shareholders include Renown Future Limited with 51.00% ownership, and Treasure Isle Global Limited with 15.02% ownership [114]. - Renown Future Limited holds a beneficial interest of approximately 20% in the company [110]. - The total number of issued ordinary shares as of September 30, 2021, was 172,800,000, unchanged from March 31, 2021 [97]. - The company’s total issued and fully paid ordinary shares remained at 172,800,000 shares with a par value of HKD 0.10 each [59]. - The company did not declare an interim dividend for the period, consistent with the previous year [46]. - The company did not recommend any interim dividend for the reporting period [100]. Miscellaneous - The company has not adopted any new accounting standards that would significantly impact its financial performance for the current period [38]. - The company has not made any significant capital expenditures during the reporting period [95]. - The company has no major contingent liabilities or capital commitments as of September 30, 2021 [94][96]. - The company has not disclosed any other individuals with significant shareholdings as of September 30, 2021 [115]. - No share option scheme was in place during the reporting period [123].

Financial Performance - The company recorded an annual loss of approximately HKD 8,379,000 for the year ended March 31, 2021, a decrease of about HKD 1,836,000 compared to a loss of HKD 10,215,000 for the previous year[11]. - Net investment losses for the year were approximately HKD 938,000, compared to HKD 1,104,000 in the previous year, primarily due to unrealized fair value changes of financial assets measured at fair value through profit or loss[11]. - General and administrative expenses amounted to approximately HKD 7,802,000, a decrease of about HKD 1,308,000 from the previous year, mainly due to reduced employee costs and legal and professional fees[11]. - As of March 31, 2021, the company had cash and bank balances of approximately HKD 1,327,000, down from HKD 4,105,000 in 2020[25]. - The company has secured loans from a controlling shareholder, Renown Future Limited, totaling HKD 3,500,000, which must be repaid within one year[23]. - The company's debt-to-asset ratio is approximately 1.5, calculated based on total borrowings against total assets[25]. - The company does not recommend paying dividends for the current year, consistent with the previous year[24]. - The company reported a loss for the fiscal year ending March 31, 2021, with detailed financial performance available on pages 62 to 101 of the financial statements[134]. - No dividends were recommended for the fiscal year, consistent with the previous year[135]. Investment Management - The company held a 2.84% equity interest in the招商和騰科技基金II, L.P, with a fair value of approximately HKD 432,000, representing about 18.8% of the company's total assets[16]. - The company confirmed an unrealized investment loss of approximately HKD 938,000 related to its equity interest in招商和騰 for the year[16]. - No new investments were made during the year, focusing instead on managing existing investments[12]. - The company plans to actively raise funds for its investment management business in the next fiscal year, focusing on post-vaccine recovery and underperforming investment opportunities[13]. - The company has changed its investment manager and signed a new investment management agreement with INV Advisory Limited, effective from June 1, 2020, for an initial term of three years[20]. - The company has entered into a new investment management agreement with INV Advisory Limited, with an annual fee of HKD 1,620,000[163]. - The investment management agreement with EYDA was terminated on June 1, 2020, after an annual fee of HKD 800,000[163]. - The total management fees paid to INV Advisory during the year amounted to HKD 1,350,000[164]. - The custodian fees paid to DBS Bank for the year totaled HKD 46,500[168]. Corporate Governance - The board of directors held four meetings during the year, with a 100% attendance rate for all executive and independent non-executive directors[50]. - The company confirmed that it has sufficient resources to continue its operations for the foreseeable future, adhering to the going concern basis for financial statement preparation[59]. - The board is responsible for establishing and reviewing corporate governance policies and practices to ensure compliance with listing rules[58]. - Independent non-executive directors are tasked with participating in board meetings to make independent judgments on company strategy and performance[55]. - The company has purchased liability insurance for directors and senior officers to provide full indemnity for costs and liabilities incurred during their duties[54]. - The board is accountable for approving and implementing all investment decisions in line with the company's investment objectives and policies[49]. - The company has established an audit committee in accordance with Listing Rule 3.21, comprising non-executive directors and three independent non-executive directors, to review and supervise the financial reporting process and internal control systems[174]. - The company has established a governance structure in place, including various committees led by experienced directors[121][122]. - The roles of the Chairman and CEO are clearly separated to enhance independence and accountability within the company[98]. - The company provides ongoing training to directors on the latest developments in listing rules and corporate governance practices[102]. Risk Management - The company has implemented a continuous risk assessment and management approach to identify and manage significant risks affecting its objectives[95]. - An independent consultant was hired to review the effectiveness of the risk management and internal control systems, with no significant deficiencies found[96]. - The company has established a clear framework for risk management, including defined management structures and reporting methods[92]. - The risk management system aims to protect the company's assets from unauthorized use and ensure compliance with applicable laws and regulations[92]. - The company has a risk rating model to prioritize risk management resources based on the assessed significance and likelihood of risks[95]. ESG (Environmental, Social, and Governance) - The company is committed to enhancing its environmental, social, and governance (ESG) performance and has established a dedicated ESG function to integrate these elements into its business operations[188]. - The board of directors is responsible for formulating the company's ESG management policies, strategies, and objectives, ensuring the effectiveness of the ESG management and internal control systems[190]. - The senior management is tasked with guiding the company's ESG efforts, assessing risks and opportunities, and reporting significant ESG-related issues to the board[193]. - The company aims to improve its ESG performance by enhancing data collection and disclosing more relevant information on sustainable development[188]. - The ESG report covers the fiscal year ending March 31, 2021, and outlines the company's responsibilities and governance structure related to ESG[183]. - The company has adopted the principles and benchmarks set out in the ESG Reporting Guide under Appendix 27 of the Listing Rules to ensure a comprehensive understanding of its ESG efforts[182]. - The company is focused on identifying and verifying significant ESG issues through stakeholder engagement activities[185]. - The company has established a clear ESG governance structure with defined responsibilities to enhance systematic and standardized management of ESG matters[189]. Stakeholder Engagement - Stakeholder communication is crucial for understanding potential risks and opportunities, ensuring alignment with stakeholder needs and expectations[199]. - Key stakeholders include investors, employees, suppliers, government and regulatory bodies, the natural environment, and the community[199]. - The company engages with stakeholders through various channels to provide updates on development and operational direction[199]. - Investor engagement includes financial reports, shareholder meetings, and regular disclosures on business performance and governance[199]. - Employee development initiatives focus on training, career advancement, and improving health and safety standards[199]. - The company is committed to addressing labor rights and enhancing compensation and benefits systems for employees[199].

Financial Performance - For the six months ended September 30, 2020, the company reported a net investment loss of HKD (9,000) thousand, compared to a loss of HKD (11,000) thousand in the same period of 2019[18]. - Other income increased to HKD 130 thousand from HKD 33 thousand year-on-year, representing a growth of 295.5%[18]. - General and administrative expenses decreased to HKD (4,233) thousand from HKD (4,899) thousand, a reduction of 13.5%[18]. - The operating loss for the period was HKD (4,112) thousand, slightly improved from HKD (4,877) thousand in the previous year[18]. - The total comprehensive loss for the period was HKD (4,126) thousand, compared to HKD (4,897) thousand in the same period of 2019, indicating a year-on-year improvement of 14.0%[18]. - The company reported a pre-tax loss of approximately HKD 4,126,000 for the six months ended September 30, 2020, compared to a loss of HKD 4,897,000 for the same period in 2019[51]. - The company recorded a loss of approximately HKD 4,126,000 for the six months ended September 30, 2020, a decrease of about HKD 771,000 compared to a loss of HKD 4,897,000 for the same period last year[88]. - General and administrative expenses for the period were approximately HKD 4,233,000, a reduction of about HKD 666,000 compared to the same period last year, primarily due to decreased employee costs and legal and professional fees[88]. Assets and Cash Flow - The company's total assets decreased to HKD 1,030 thousand from HKD 5,156 thousand, a decline of 80.0%[20]. - The net asset value per share was HKD 0.006, down from HKD 0.03 in the previous year[20]. - Cash and cash equivalents decreased to HKD 581 thousand from HKD 4,105 thousand, a decline of 85.8%[20]. - The net cash used in operating activities was HKD (3,248) thousand, compared to HKD (4,678) thousand in the same period of 2019, showing an improvement of 30.6%[32]. - The company reported a total cash decrease of HKD (3,524) thousand for the period, compared to HKD (4,895) thousand in the previous year, reflecting a reduction of 28.0%[33]. - As of September 30, 2020, the cash and cash equivalents amounted to HKD 581,000, compared to HKD 7,953,000 as of March 31, 2020[35]. - As of September 30, 2020, the company's cash and bank balances were approximately HKD 581,000, down from HKD 4,105,000 as of March 31, 2020[102]. - The company's net asset value as of September 30, 2020, was approximately HKD 1,030,000, a decrease from HKD 5,156,000 as of March 31, 2020[102]. Investments - The company confirmed an unrealized investment loss of approximately HKD 9,000 for the period related to financial assets measured at fair value[88]. - The company held no cash dividends from its investment in the招商和騰 fund during the reporting period[55]. - As of September 30, 2020, the company's investment in the招商和騰科技基金II, L.P. was approximately HKD 11,193,000, representing a 2.84% equity stake, with a fair value of HKD 1,361,000, accounting for about 51% of the company's total assets[93]. - The company recorded an unrealized investment loss of approximately HKD 9,000 during the reporting period related to its equity in招商和騰[93]. - The company's only financial instrument measured at fair value was an unlisted fund investment valued at approximately HKD 1,361,000 as of September 30, 2020, down from HKD 1,370,000 as of March 31, 2020[71]. - The estimated impact of a 5% increase or decrease in related asset values could lead to a loss reduction or increase of approximately HKD 60,000 as of September 30, 2020[72]. - Investment management fees for the six months ended September 30, 2020, were HKD 673,000, an increase from HKD 400,000 in the same period of 2019[48]. Corporate Governance and Shareholder Information - The company did not recommend any interim dividend for the period, consistent with the previous year[51]. - The company aims to maintain high standards of corporate governance practices in the best interests of the company and its shareholders[133]. - The company has complied with the corporate governance code, except for the attendance of certain independent non-executive directors at the annual general meeting held on August 27, 2020[133]. - The audit committee has reviewed the unaudited interim financial report for the period[136]. - The company has not implemented any share option schemes during the reporting period[138]. - There are no arrangements that allow directors or key executives to acquire shares or bonds of the company[119]. - The company has a total issued share capital of 172,800,000 shares as of September 30, 2020[129]. - Renown Future Limited holds a significant stake of 51.00% in the company, with 88,129,080 shares issued[124]. - The second-largest shareholder, Treasure Isle Global Limited, owns 15.02% of the company, equating to 25,954,878 shares[125]. Future Outlook and Economic Environment - The local GDP recorded a year-on-year decline of 3.5% in the third quarter of 2020, despite some consolidation in the local stock market[89]. - The unemployment rate in the region reached 6.4% following the atypical pneumonia outbreak, reflecting poor local consumer sentiment and declining consumer spending[89]. - The company remains confident in the long-term investment environment in Hong Kong and China, despite challenges from the COVID-19 pandemic and geopolitical tensions[92]. - The company is cautiously seeking investment opportunities that offer sustainable returns with manageable risks in preparation for a strong economic recovery post-COVID-19[92]. Capital Management - The company has entered into two loan agreements with Renown Future, providing a total of HKD 12,500,000 in loans to support general working capital[100][101]. - The board is considering various fundraising activities to strengthen the company's capital base, including private placements and public offerings[105]. - The company has not made any significant capital expenditures during the reporting period[107]. - The company has no significant contingent liabilities or pledged assets as of September 30, 2020[106]. - The company has not signed any agreements related to significant investments or capital assets during the reporting period[111]. - The company has not adopted any new accounting standards that would significantly impact its financial performance for the current reporting period[43]. Employee Information - As of September 30, 2020, the company had 4 employees, with total employee compensation amounting to approximately HKD 1,493,000, a decrease of about 11.8% compared to HKD 1,692,000 for the same period in 2019[113].

Financial Performance - The company recorded an annual loss of approximately HKD 10,215,000 for the year ended March 31, 2020, an increase of about HKD 797,000 compared to a loss of HKD 9,418,000 in the previous year[9]. - Net investment loss for the year was approximately HKD 1,104,000, significantly higher than the previous year's loss of about HKD 137,000, primarily due to unrealized fair value changes of financial assets[9]. - The company reported a loss attributable to equity shareholders of approximately HKD 10,215,000 for the year ended March 31, 2020, compared to a loss of HKD 9,418,000 in 2019[25]. - As of March 31, 2020, the company's cash and bank balance was approximately HKD 4,105,000, a decrease from HKD 12,848,000 in 2019[24]. - The company's net asset value as of March 31, 2020, was approximately HKD 5,156,000, down from HKD 15,371,000 in 2019[25]. - Employee compensation for the year was approximately HKD 3,310,000, a decrease from HKD 3,963,000 in 2019, with four employees as of March 31, 2020[30]. - The company did not recommend any dividend payment for the year, consistent with the previous year[23]. - The company has adopted a dividend policy allowing for the declaration and distribution of dividends to shareholders, contingent upon financial performance and other factors[117]. - The board will consider various factors, including financial performance and capital needs, when deciding on dividend declarations[117]. - The company emphasizes that the dividend policy does not constitute a legal commitment to pay any specific amount[117]. Investment Strategy - The company did not make any new investments during the year and continued to manage its existing portfolio[10]. - The global economic outlook remains uncertain due to the ongoing US-China trade tensions and the impact of the COVID-19 pandemic, prompting the company to adopt a cautious investment management approach[11]. - The company will continue to focus on equity investments in the domestic Chinese market while closely monitoring market conditions[11]. - The company has no plans or agreements for significant investments or capital assets as of the report date, but will consider future opportunities[17]. - The board is considering various fundraising activities to strengthen the company's capital base, including private placements and public offerings[25]. Corporate Governance - The company has established policies and practices regarding corporate governance, including regular reviews of compliance with listing rules[62]. - The board consists of six directors, three of whom are female, reflecting a commitment to diversity[78]. - The company has adopted a board diversity policy, considering various measurable factors such as gender and professional background[83]. - The roles of the Chairman and CEO are clearly separated to enhance independence and accountability, with the current Chairman and CEO being different individuals[101]. - The company has established an audit committee to review and oversee its financial reporting processes and internal control systems[181]. - The independent non-executive directors confirmed that the ongoing related party transactions were conducted in the ordinary course of business and on normal commercial terms[178]. - The auditor issued an unqualified opinion regarding the company's ongoing related party transactions as disclosed in the annual report[179]. Risk Management - The company has implemented a continuous risk assessment and management approach to identify and manage significant risks affecting its objectives[98]. - An independent consultant was hired to review the effectiveness of the risk management and internal control systems, with no significant deficiencies found[99]. - The company ensures compliance with applicable laws and regulations through its risk management and internal control systems[95]. - The company has established a risk register for ongoing assessment and management of identified risks, prioritizing resources based on risk ratings[98]. Management and Operations - The company appointed a new executive director, Ms. Chan Mei Sin, on June 1, 2020[18]. - The company has entered into a new investment management agreement with INV Advisory Limited, with a maximum annual fee of HKD 1,620,000, effective from June 1, 2020[19]. - The previous investment management agreement with 安永達投資管理有限公司 had an annual fee of HKD 800,000 and was terminated on June 1, 2020[173]. - The company has maintained appropriate directors and officers liability insurance for potential legal actions[164]. - The company has no significant contracts with directors that cannot be terminated within one year without compensation[162]. Stakeholder Engagement and ESG - The company is committed to enhancing its environmental, social, and governance (ESG) performance and reporting[192]. - Stakeholder engagement is considered crucial for the company to understand potential risks and opportunities[193]. - The company aims to balance shareholder interests with social responsibilities in its ESG strategy[192]. - The company will continue to strengthen data collection efforts to improve ESG performance and disclose more relevant information[192]. - The company has complied with all relevant environmental and social policies during the fiscal year[140]. Shareholder Matters - Shareholders holding at least 5% of total voting rights or 100 shareholders can submit written requests for resolutions to be considered at the annual general meeting[116]. - Written requests must be signed and submitted at least six weeks prior to the annual general meeting[116]. - If a written request is valid, the board will include the resolution in the agenda or circulate the statement, subject to reasonable costs being covered by the requesting shareholders[116]. - The company’s governance practices include provisions for special meetings when necessary, ensuring shareholder engagement[115]. - The annual general meeting is scheduled for August 27, 2020[143].

Financial Performance - For the six months ended September 30, 2019, the company reported a net investment loss of HKD (11,000) compared to a loss of HKD (511,000) in the same period of 2018, representing a significant improvement[25]. - Total other income for the same period was HKD 33,000, slightly down from HKD 43,000 in 2018[25]. - General and administrative expenses decreased to HKD (4,899,000) from HKD (5,003,000) year-over-year, indicating a reduction in operational costs[25]. - The operating loss for the period was HKD (4,877,000), an improvement from HKD (5,471,000) in the previous year[25]. - The pre-tax loss for the period was HKD (4,897,000), consistent with the operating loss trend[25]. - The total comprehensive loss for the period was HKD (4,897,000), compared to HKD (5,471,000) in the same period last year, showing a reduction in overall losses[25]. - Basic and diluted loss per share for the period was HKD (2.83), an improvement from HKD (3.17) in the prior year[25]. - The loss for the period was HKD 4,897,000, compared to a loss of HKD 5,471,000 in the previous period[34][37]. - For the six months ended September 30, 2019, the company reported a pre-tax loss of approximately HKD 4,897,000, compared to a loss of HKD 5,471,000 for the same period in 2018, representing a decrease in loss of about 10.5%[82]. - The company recorded a loss of approximately HKD 4,897,000 for the six months ended September 30, 2019, a decrease of about HKD 574,000 compared to a loss of HKD 5,471,000 in the same period last year[122]. Assets and Liabilities - As of September 30, 2019, the total non-current assets amounted to HKD 45,965,000, a decrease from HKD 58,000,000 as of March 31, 2019[28]. - Current assets totaled HKD 10,782,000, down from HKD 15,799,000, indicating a decline of approximately 31.9%[28]. - The net current assets were HKD 9,822,000, a significant decrease of 35.5% compared to HKD 15,313,000 as of March 31, 2019[28]. - The total equity decreased to HKD 10,474,000 from HKD 15,371,000, reflecting a decline of 31.8%[28]. - Cash and cash equivalents at the end of the period were HKD 7,953,000, down from HKD 12,848,000, representing a decrease of 38.3%[42]. - The company’s net asset value as of September 30, 2019, was approximately HKD 10,474,000, a decrease from HKD 15,371,000 as of March 31, 2019[131]. - Total liabilities, including accrued expenses and other payables, decreased to HKD 383,000 as of September 30, 2019, from HKD 486,000 as of March 31, 2019, showing a reduction of about 21.2%[96]. Investment and Market Activity - The company has not reported any new product developments or market expansions during this period[25]. - There were no significant mergers or acquisitions mentioned in the financial report[25]. - The company did not make any new investments during the period and continued to manage its existing portfolio[123]. - The company remains cautious in its investment management due to the lack of domestic capital liquidity and the negative effects of ongoing social instability in Hong Kong[123]. - The GDP growth rate in China decreased from 6.4% in Q1 to 6.0% in Q3 2019, indicating a downward trend in economic growth[123]. - The company plans to closely monitor market conditions and continue to seek investment opportunities in the domestic equity market[123]. Accounting Standards and Policies - The company has adopted new accounting standards, including HKFRS 16 "Leases," which may impact future financial reporting[50]. - The company adopted Hong Kong Financial Reporting Standard 16 "Leases" starting from April 1, 2019, which requires lessees to recognize all leases as right-of-use assets and lease liabilities, excluding short-term leases and low-value asset leases[51]. - The initial recognition of lease liabilities is based on the present value of lease payments due over the lease term, discounted using the interest rate implicit in the lease or the company's incremental borrowing rate[57]. - The company chose not to apply the standard to leases with a remaining lease term of 12 months or less as of the date of initial application[65]. - The transition to HKFRS 16 did not have a significant impact on the company's financial position as of April 1, 2019[65]. - The new definition of leases under HKFRS 16 applies only to contracts entered into or modified after April 1, 2019[54]. - The company capitalizes all leases, including those previously classified as operating leases under HKAS 17, except for short-term and low-value asset leases[57]. - The company assesses the likelihood of exercising renewal options based on various factors, which may affect the amount of lease liabilities and right-of-use assets recognized in future periods[62]. - The company will remeasure lease liabilities when there are changes in lease payments due to index or rate changes, or if there are changes in the assessment of options to purchase, extend, or terminate the lease[61]. - The company has not restated comparative information and continues to report under HKAS 17 for prior periods[51]. Corporate Governance and Shareholder Information - The company changed its name to Youth Champ Financial Group Holdings Limited, effective April 26, 2019[127]. - The company reported a significant shareholder, Blue Canary Consulting Company Limited, holding 14,916,042 shares, representing 8.63% of the total issued share capital as of September 30, 2019[156]. - The total number of shares issued by the company as of September 30, 2019, was 172,800,000[158]. - The company has maintained high standards of corporate governance and has complied with the corporate governance code during the reporting period[162]. - The audit committee reviewed the interim financial report for the period and received an unqualified review report from the auditors[165]. - The company did not maintain any share option schemes during the reporting period[166]. Employee and Operational Expenses - The total remuneration paid to employees, including executive directors, for the period was approximately HKD 1,692,000, compared to HKD 2,293,000 for the previous period[142]. - The company’s total operating expenses, including legal and professional fees, were HKD 1,001,000 for the six months ended September 30, 2019, compared to HKD 1,035,000 in the same period of 2018, reflecting a decrease of about 3.3%[81]. - Investment management fees increased to HKD 400,000 for the six months ended September 30, 2019, up from HKD 286,000 in the same period of 2018, reflecting an increase of approximately 39.8%[81]. - The company did not declare an interim dividend for the period, consistent with the previous year where no dividend was declared[82]. - There were no significant capital expenditures during the reporting period[133].

Financial Performance - The company recorded an annual loss of approximately HKD 9,418,000 for the year ended March 31, 2019, a decrease of about HKD 1,020,000 compared to a loss of HKD 10,438,000 in the previous year[11] - The company confirmed a net loss of approximately HKD 877,000 from the sale of its entire holding of 1,231,600 shares of Joyport Holdings Limited[17] - The company recognized a net investment loss of approximately HKD 137,000 from financial assets measured at fair value through profit or loss during the year[11] - The net asset value of the company is approximately HKD 15,371,000 as of March 31, 2019, down from HKD 19,750,000 in 2018[28] - The company reported a loss for the fiscal year ending March 31, 2019, with detailed cash flow and financial status available in the financial statements on pages 47 to 97[150] Expenses and Costs - General and administrative expenses for the year were approximately HKD 9,429,000, an increase of HKD 1,061,000 from the previous year, primarily due to increased employee costs[11] - The increase in administrative expenses was mainly attributed to rising employee costs, indicating a potential focus on talent acquisition or retention strategies[11] - The company has five employees as of March 31, 2019, with total employee compensation of approximately HKD 3,963,000, an increase from HKD 2,813,000 in 2018[33] - The external auditor's fees for the year ending March 31, 2019, included HKD 280,000 for audit services and HKD 120,000 for non-audit services[122] Investments - The company completed the sale of its non-listed equity interest in Tianjin Yishang Youyi Co., Ltd., for a cash consideration of HKD 15,000,000, representing approximately 3.955% of its total equity in the company[18] - The fair value of the company's 2.84% equity interest in the investment fund, Zhaoshang Heteng Technology Fund II, L.P., was approximately HKD 2,474,000, accounting for about 16.1% of the company's net asset value as of March 31, 2019[13] - The company has been actively managing its investment portfolio and has taken opportunities to divest certain investments during the year[12] - The company’s investment management business continues to focus on overseeing its existing portfolio while exploring new investment opportunities[12] - The company has not signed any agreements for significant investments or capital assets as of the report date[22] Governance and Board Activities - The board of directors held a total of four meetings during the year, with attendance rates for executive directors ranging from 50% to 100%[49] - The chairman, Mr. He Luling, attended all four board meetings, achieving a 100% attendance rate[49] - Independent non-executive directors also maintained a 100% attendance rate across all meetings, demonstrating strong engagement[49] - The company has established a comprehensive director's manual outlining the code of conduct and responsibilities for timely disclosure of personal interests and potential conflicts[45] - The board is responsible for approving all investment decisions and formulating the overall investment strategy in line with the company's objectives[48] Risk Management and Internal Controls - The board is responsible for maintaining a robust internal control and risk management system to protect shareholder interests[108] - The company engaged an independent consultant for annual internal control review and risk assessment to ensure effective internal control and risk management systems[111] - Major risks identified include strategic, operational, financial, and information risks, with a qualitative and quantitative assessment conducted to prioritize these risks[112] - The board is satisfied with the effectiveness and adequacy of the internal control and risk management systems as of March 31, 2019[114] Corporate Social Responsibility and ESG - The company is committed to complying with all relevant environmental and social policies[149] - The company has committed to enhancing its environmental, social, and governance (ESG) performance and has established a dedicated ESG function to integrate these elements into its operations[194] - The board of directors is responsible for the company's ESG strategy and reporting, including assessing and determining related risks[194] - The company aims to balance shareholder interests with social responsibilities and is focused on sustainable development[194] - The company has adopted the principles and guidelines of the ESG Reporting Guide as per the Hong Kong Stock Exchange[193] Shareholder Relations and Dividends - The company does not recommend the payment of dividends for the current year, consistent with the previous year[27] - The company has adopted a dividend policy allowing for the declaration and distribution of dividends to shareholders, balancing profit sharing with future growth reserves[131] - The board has absolute discretion to recommend any dividend payments, considering financial performance, overall financial condition, and other relevant factors[131] - The company will continuously review its dividend policy and retains the right to update or modify it at any time[131] Miscellaneous - The company has undergone a name change, with the new name "Youth Champ Financial Group Holdings Limited" registered on April 26, 2019[188] - The annual general meeting is scheduled for August 13, 2019[151] - The company has not engaged in any share option plans during the fiscal year[158] - The company has not made any charitable donations during the fiscal year[156] - The company has not entered into any significant contracts where directors have a direct or indirect interest during the fiscal year[162]