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]