ж wonderfulsky 皓 天 財 經 集 團 皓天財經集團控股有限公司 (於関曼群島註冊成立之有限公司) 股份代號 : 01260 | --- | --- | --- | --- | |-------------|-------|-------|-------| | | | | | | | | | | | 2022 | | | | | 中 期 報 告 | | | | | | | | | 目錄 公司資料 2 簡明綜合損益及其他全面收益表 3 簡明綜合財務狀況表 5 簡明綜合現金流量表 7 簡明綜合權益變動表 8 簡明中期財務資料附註 9 管理層討論及分析 29 其他資料 32 公司資料 董事會 執行董事 劉天倪（主席兼行政總裁） 劉 琳 獨立非執行董事 李灵修 林映融 梁子榮 審核委員會 梁子榮（主席） 李灵修 林映融 提名及薪酬委員會 李灵修（主席） 劉天倪 林映融 梁子榮 公司秘書 李立菊 獨立核數師 中審眾環（香港）會計師事務所有限公司 執業會計師 香港灣仔 港灣道18號 中環廣場42樓 主要往來銀行 中國銀行（香港）有限公司 香港上海滙豐銀行有限公司 中國建設銀行（亞洲）股份有限公司 主要股份過 ...

Financial Performance - The company reported a loss of approximately HKD 128.9 million for the year ended March 31, 2022, compared to a profit of approximately HKD 118.3 million for the previous year, representing a decrease of about 209.0%[17]. - Revenue decreased from approximately HKD 371.1 million for the year ended March 31, 2021, to approximately HKD 303.6 million for the year ended March 31, 2022, a decline of about 18.2%[19]. - The profit before tax for the year ended March 31, 2022, was a loss of HKD 125.3 million, compared to a profit of HKD 135.2 million in the previous year[5]. - The group recorded a loss of approximately HKD 42.9 million from the sale of debt instruments measured at fair value through other comprehensive income, compared to a gain of HKD 11.2 million in 2021[25]. - The net loss from fair value changes of debt instruments recognized in other comprehensive income amounted to approximately HKD 313.4 million, compared to a net gain of HKD 32.4 million in 2021[25]. - The group recognized impairment losses related to debt instruments measured at fair value through other comprehensive income of approximately HKD 183.1 million, significantly higher than HKD 5.0 million in 2021[25]. Revenue Breakdown - The financial communications services segment generated revenue of approximately HKD 302.4 million for the year ended March 31, 2022, down about 16.9% from approximately HKD 363.9 million in the previous year[21]. - The international roadshow services segment saw a significant revenue drop of approximately 83.6%, with revenue of about HKD 1.2 million for the year ended March 31, 2022, compared to approximately HKD 7.2 million in the previous year[24]. Assets and Liabilities - Total assets decreased to approximately HKD 1,548.8 million as of March 31, 2022, from HKD 2,004.7 million in the previous year[8]. - Total liabilities decreased to approximately HKD 157.6 million as of March 31, 2022, compared to HKD 361.0 million in the previous year[8]. - The company’s equity attributable to owners was approximately HKD 1,391.1 million as of March 31, 2022, down from HKD 1,643.6 million in the previous year[8]. Dividend Policy - The company did not recommend a final dividend for the year ended March 31, 2022, consistent with the previous year where no dividend was paid[18]. - The board recommends not to declare a final dividend for the year ending March 31, 2022, maintaining the previous year's dividend of zero[60]. Strategic Initiatives - The group has expanded its presence in mainland China with established offices in Beijing, Shanghai, Shenzhen, and Chengdu, enhancing service capabilities for regional clients[38]. - The group launched the Haotian Cloud App to provide a one-stop online roadshow and earnings meeting live streaming service amid the ongoing COVID-19 pandemic[37]. - The group aims to leverage its experience and online technology to create new growth drivers and strengthen its leadership position in the industry[38]. Corporate Governance - The audit committee consists of three independent non-executive directors, responsible for reviewing financial reporting and internal controls[122]. - The board of directors held four meetings during the fiscal year ending March 31, 2022[129]. - All independent non-executive directors have confirmed their independence in accordance with the listing rules[92]. - The company has adhered to all corporate governance codes, with a noted exception regarding the separation of the roles of Chairman and CEO[127]. Risk Management - The company has identified key risks including operational and market risks, influenced by macroeconomic conditions and financial instability[65]. - The risk management and internal control systems are structured in three levels, with the board responsible for establishing the framework and ensuring effective communication across departments[147]. - The compliance department conducted an assessment of the company's risk management and internal control, indicating no significant weaknesses[148]. Environmental and Social Responsibility - The company emphasizes environmental protection, implementing initiatives like a paperless office and using LED lighting to reduce energy consumption[61]. - The company has implemented a green office program aimed at reducing energy consumption and improving resource efficiency in daily operations[163]. - The company has not reported any significant non-compliance issues regarding air and greenhouse gas emissions, wastewater discharge, or waste generation during the fiscal year[170]. - The group aims to fulfill its corporate social responsibility by participating in charitable donations and encouraging employee involvement in community activities[188]. Employee Relations - The company prioritizes employee development through competitive compensation and performance evaluation systems[67]. - The company has provided competitive compensation and medical insurance to its employees, adhering to human resources practices that comply with applicable laws and regulations[175]. - The company has established occupational safety and health guidelines to ensure a safe working environment for employees, complying with relevant regulations[176]. Shareholder Information - As of March 31, 2022, the company had a total of 815,616,000 shares held by Liu Tianqi, representing 70.83% of the issued share capital[100]. - Sapphire Star holds 750,000,000 shares, accounting for 65.14% of the company's issued share capital[110]. - Fidelity Fund Limited holds 62,388,000 shares, representing 5.42% of the company's issued share capital[110]. - Fidelity China Special Situations Fund holds 61,952,000 shares, representing 5.38% of the company's issued share capital[110]. Compliance and Legal Matters - The company recognizes the importance of compliance with regulatory requirements and has maintained a good working relationship with regulators[64]. - The group has implemented a strict anti-corruption policy and has not reported any cases of corruption during the fiscal year ending March 31, 2022[187]. - The group is committed to protecting human rights and complies with all relevant laws regarding forced labor and child labor[181].

Financial Performance - Revenue for the six months ended September 30, 2021, was HKD 188,925,000, representing an increase of 5.6% compared to HKD 179,386,000 for the same period in 2020[6] - Gross profit for the same period was HKD 100,694,000, up from HKD 83,828,000, indicating a significant improvement in profitability[6] - The pre-tax profit decreased to HKD 38,441,000 from HKD 66,209,000, reflecting a decline of 42.1% year-on-year[6] - Net profit for the period was HKD 29,336,000, down from HKD 55,338,000, a decrease of 47.0% compared to the previous year[6] - Total comprehensive income for the period was a loss of HKD 73,613,000, compared to a gain of HKD 120,978,000 in the same period last year[9] - Basic and diluted earnings per share were HKD 0.025, down from HKD 0.048 in the previous year[9] - The profit before tax for the six months ended September 30, 2021, was HKD 38,441,000, compared to HKD 63,299,000 for the same period in 2020, indicating a decrease of about 39.3%[29][33] - The company reported a decrease in total income from financial assets measured at fair value through profit or loss, with non-current assets valued at HKD 49,297,000 as of September 30, 2021, down from HKD 130,870,000[49] - The company’s profit decreased from approximately HKD 55.3 million for the six months ended September 30, 2020, to approximately HKD 29.3 million for the six months ended September 30, 2021, a decrease of about 47.0%[100] Assets and Liabilities - Non-current assets as of September 30, 2021, totaled HKD 1,088,148,000, a decrease from HKD 1,512,902,000 as of March 31, 2021[11] - Current assets increased to HKD 645,341,000 from HKD 491,772,000, indicating a growth in liquidity[11] - Total liabilities decreased to HKD 2,787,000 for deferred tax liabilities, remaining stable compared to the previous period[13] - Total equity as of September 30, 2021, was HKD 1,570,378,000, down from HKD 1,643,639,000 as of March 31, 2021[13] - Trade receivables, net of provision, increased to HKD 107,041,000 as of September 30, 2021, compared to HKD 87,065,000 as of March 31, 2021, reflecting a growth of 22.9%[43] - The fair value of listed equity investments was HKD 1,260,000 as of September 30, 2021, significantly down from HKD 19,831,000 as of March 31, 2021, indicating a decline of 93.6%[46] - As of September 30, 2021, the fair value of listed debt instruments was HKD 519,665,000, down from HKD 823,104,000 as of March 31, 2021, representing a decrease of approximately 37%[53] - Contract liabilities amounted to HKD 9,252,000 as of September 30, 2021, down from HKD 23,931,000 as of March 31, 2021, representing a decrease of approximately 61%[63] Cash Flow and Investments - The cash inflow from operating activities for the six months ended September 30, 2021, was HKD 175,908,000, a significant improvement from the cash outflow of HKD 40,580,000 in the same period of 2020[15] - The company’s cash and cash equivalents at the end of the period were HKD 160,247,000, down from HKD 176,622,000 at the end of September 2020, reflecting a decrease of approximately 9.2%[15] - Interest income from bond securities amounted to HKD 44.1 million for the six months ended September 30, 2021, compared to HKD 40.3 million for the same period in 2020[103] - The company’s bond investments include those listed on the Hong Kong Stock Exchange and the Singapore Exchange, with a cautious investment approach and regular performance reviews[103] Shareholder and Equity Information - The company’s major shareholder, Mr. Liu Tian Ni, transferred 750,000,000 shares, representing approximately 65.13% of the total issued share capital, to a family trust for wealth and succession planning purposes[20] - Liu Tianqi holds a total equity of 815,616,000 shares, representing 70.83% of the company's issued share capital[70] - Liu Tianqi and his spouse transferred a total of 750,000,000 shares to a family trust, equivalent to approximately 65.13% of the company's issued share capital[81] - The company has a stock option plan that allows for the issuance of up to 30% of the company's issued share capital, with 8,790,000 options granted but not yet exercised, representing 0.76% of the issued shares[89] - The company did not recommend an interim dividend for the six months ended September 30, 2021, consistent with the previous year[38] - The company has not declared any dividends for the six months ending September 30, 2021, consistent with the previous year[115] Employee and Operational Information - Employee costs, including contributions to retirement benefit plans, amounted to HKD 10,812,000 for the six months ended September 30, 2021[29] - As of September 30, 2021, the group had a total of 143 full-time employees, with total employee costs (including directors' remuneration) amounting to approximately HKD 34.2 million for the six months ended September 30, 2021[129] - The company is participating in a mandatory provident fund scheme, contributing a minimum of 5% of relevant salary costs, with a maximum of HKD 1,500 per employee per month[96] Strategic Plans and Market Conditions - The group plans to allocate approximately HKD 124.9 million for strategic mergers and acquisitions, with a focus on public relations and investor relations[116] - Approximately HKD 423.0 million is earmarked for creating a mobile internet professional service platform, "HaoTian Cloud," for clients[119] - The group aims to adopt a more cautious investment strategy in response to challenges in the Chinese real estate sector, ensuring capital safety while seeking investment opportunities[113] - The management is closely monitoring currency risks, particularly with the lack of a RMB hedging policy, while maintaining a stable exchange rate environment[107] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group for the six months ended September 30, 2021[136] - The company has adopted the standard code of conduct for securities transactions as per listing rules, with all directors confirming compliance for the six months ended September 30, 2021[134] - The chairman and CEO roles are currently held by the same individual, Liu Tianqi, who has over 20 years of experience in the financial investment and public relations industries[133] - The company has maintained the required public float as per listing rules throughout the year ended September 30, 2021[128]

Financial Performance - The company's profit attributable to owners increased from approximately HKD 75.7 million for the year ended March 31, 2020, to approximately HKD 118.3 million for the year ended March 31, 2021, representing an increase of about 56.3%[16] - Revenue decreased from approximately HKD 450.5 million for the year ended March 31, 2020, to approximately HKD 371.1 million for the year ended March 31, 2021, a decrease of about 17.6%[18] - The financial public relations services segment generated revenue of approximately HKD 363.9 million for the year ended March 31, 2021, down about 2.5% from HKD 373.2 million in the previous year[20] - The international roadshow services segment's revenue decreased by approximately 90.7% to about HKD 7.2 million for the year ended March 31, 2021, compared to HKD 77.3 million in the previous year due to the global pandemic[23] - The profit before tax for the year ended March 31, 2021, was approximately HKD 135.2 million, compared to HKD 95.1 million for the year ended March 31, 2020[5] Assets and Liabilities - Total assets increased to HKD 2,004.7 million as of March 31, 2021, from HKD 1,899.3 million as of March 31, 2020[8] - Total liabilities decreased to HKD 361.0 million as of March 31, 2021, from HKD 414.9 million as of March 31, 2020[8] - As of March 31, 2021, the group's cash and bank balances totaled approximately HKD 151.7 million, up from HKD 108.0 million in 2020[28] - The group's debt-to-equity ratio decreased to 0.2% as of March 31, 2021, down from 8.5% in 2020, indicating improved financial stability[28] Dividends and Shareholder Value - The company did not declare a final dividend for the year ended March 31, 2021, consistent with the previous year[17] - The board recommended not to pay a final dividend to ordinary shareholders for the fiscal year ending March 31, 2021, consistent with the previous year[58] - The company aims to enhance shareholder value by promoting business development for sustainable profit growth while providing stable dividends[71] Strategic Focus and Market Expansion - The company plans to focus on enhancing its financial public relations services amid ongoing market challenges[19] - The company aims to explore new strategies for market expansion and product development in response to changing market conditions[19] - The group plans to continue expanding its market presence in Hong Kong and overseas while deepening its footprint in mainland China[36] Investments and Income - The group's investment income from bond securities was HKD 79.1 million for the year ended March 31, 2021, compared to HKD 44.4 million in 2020, reflecting a significant increase[24] - The group recorded a gain of HKD 11.2 million from the sale of debt instruments measured at fair value through other comprehensive income, compared to a loss of HKD 3.9 million in 2020[24] - The company has significant investments, including HKD 111.2 million in Silver Grant International Holdings Limited, representing 5.5% of total assets[24] Risk Management and Compliance - The company identified operational and market risks as key challenges, influenced by macroeconomic conditions and financial market volatility[63] - The company has maintained compliance with regulatory requirements, including the Securities and Futures Ordinance and listing rules[62] - The company is closely monitoring currency risks, particularly related to the RMB, and will consider hedging strategies as necessary[29] - The company is committed to complying with all regulatory requirements as a listed entity on the Hong Kong Stock Exchange[70] - The compliance department conducted an assessment of the company's risk management and internal control, indicating no significant weaknesses in internal controls[146] Corporate Governance - The company has adopted the same standards for securities trading by directors as outlined in the listing rules, confirming compliance for the fiscal year ending March 31, 2021[126] - The audit committee consists of three independent non-executive directors, responsible for reviewing and supervising the group's financial reporting and internal controls[117] - The company is committed to high standards of corporate governance and has adhered to all code provisions during the fiscal year[125] - All independent non-executive directors have confirmed their independence and have been appointed for a three-year term, subject to re-election at the annual general meeting[133] Environmental and Social Responsibility - The company emphasized the importance of environmental protection and has implemented measures such as promoting a paperless office and using energy-efficient appliances[59] - The company has implemented a green office program aimed at reducing energy consumption and improving resource efficiency[161] - The group actively engages in community investment through charitable donations and encourages employee participation in community activities[185] - The company is committed to protecting human rights and complies with all relevant laws regarding forced labor and child labor[179] Employee Relations and Development - The company emphasizes the importance of employees as valuable assets and aims to provide competitive compensation and career development opportunities[65] - The company provided competitive compensation and medical insurance to employees, adhering to labor laws and regulations[173] - The company encourages employees to engage in on-the-job training and skill development to enhance overall efficiency and morale[176] Communication and Stakeholder Engagement - The company has established various channels to enhance communication with clients to improve market penetration and expansion[68] - The company has established a website to facilitate communication with shareholders and investors, providing access to business developments and financial information[155] - The company has maintained effective communication with stakeholders to understand their perspectives and gather feedback[160] Shareholding Structure - As of March 31, 2021, the total equity held by Liu Tian Ni is 815,616,000 shares, representing 70.83% of the issued share capital[96] - Sapphire Star Investments Limited, controlled by Liu Tian Ni, holds 750,000,000 shares, accounting for 65.14% of the company's issued share capital[106] - Liu Tian Ni and Liu Qing jointly own 6,904,000 shares, while Liu Qing holds an additional 58,712,000 shares[107] - Fidelity Fund Limited and Pandanus Associate Inc. each hold 106,208,000 shares, representing 9.22% of the issued share capital[106] Audit and Financial Reporting - The independent auditor confirmed that the financial statements accurately reflect the group's financial position as of March 31, 2021, in accordance with Hong Kong Financial Reporting Standards[188] - The company is responsible for preparing true and fair consolidated financial statements according to the Hong Kong Financial Reporting Standards and the Companies Ordinance[198] - The management is tasked with overseeing the financial reporting process of the group[199] - The auditors aim to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[200]

Financial Performance - For the six months ended September 30, 2020, the company reported revenue of HKD 179,386,000, a decrease of 39.8% compared to HKD 298,025,000 in the same period of 2019[6]. - Gross profit for the same period was HKD 83,828,000, down 37.5% from HKD 134,385,000 year-on-year[6]. - The company recorded other income of HKD 52,286,000, an increase of 86.3% from HKD 28,063,000 in the previous year[6]. - Profit before tax decreased to HKD 66,209,000, down 43.4% from HKD 116,941,000 in the prior year[6]. - The net profit for the period was HKD 55,338,000, a decline of 43.3% compared to HKD 97,492,000 in the same period last year[6]. - Total comprehensive income for the period was HKD 120,978,000, compared to HKD 74,539,000 in the previous year, reflecting an increase of 62.2%[9]. - Earnings per share for the period were HKD 0.048, down from HKD 0.082 in the same period last year[9]. - The group's profit decreased from approximately HKD 975 million for the six months ended September 30, 2019, to approximately HKD 553 million for the six months ended September 30, 2020, a decrease of about 43.3%[104]. - The group's revenue decreased from approximately HKD 2,980 million for the six months ended September 30, 2019, to approximately HKD 1,794 million for the six months ended September 30, 2020, a decrease of about 39.8%[104]. Cash Flow and Investments - For the six months ended September 30, 2020, net cash inflow from operating activities was HKD 185,681, compared to HKD 185,926 for the same period in 2019, representing a decrease of 0.13%[15]. - The total cash and cash equivalents at the end of the period was HKD 176,622, down from HKD 342,590 at the end of the same period in 2019, indicating a decrease of 48.5%[15]. - The net cash outflow from investing activities was HKD 40,580, compared to a cash inflow of HKD 16,993 in the previous year, reflecting a significant change in investment strategy[15]. - The net cash outflow from financing activities was HKD 76,399, compared to an outflow of HKD 18,659 in the same period last year, indicating increased financing activities[15]. - The company reported a net loss from foreign exchange of HKD 354,000 for the six months ended September 30, 2020, compared to a gain of HKD 309,000 in the previous year[40]. - The group plans to hold equity investments for long-term strategic purposes, indicating a focus on stability and growth in its investment strategy[55]. Assets and Liabilities - Non-current assets increased to HKD 1,388,134,000 as of September 30, 2020, up from HKD 1,229,096,000 as of March 31, 2020[11]. - Current liabilities rose to HKD 383,097,000, compared to HKD 412,830,000 in the previous period[13]. - The company's total equity increased to HKD 1,605,363,000 from HKD 1,484,385,000 year-on-year[13]. - Trade receivables, net of provisions, decreased to HKD 67,488,000 as of September 30, 2020, from HKD 81,038,000 as of March 31, 2020, representing a decline of approximately 16.7%[52]. - The aging analysis of trade receivables shows that as of September 30, 2020, HKD 44,907,000 (66.5%) was overdue between 91 days to 1 year, compared to HKD 60,054,000 (74.1%) as of March 31, 2020[52]. - The fair value of listed equity investments in Hong Kong decreased to HKD 20,315,000 as of September 30, 2020, from HKD 21,089,000 as of March 31, 2020, a decrease of approximately 3.7%[54]. - The fair value of non-current assets increased to HKD 27,121,000 as of September 30, 2020, compared to HKD 25,242,000 as of March 31, 2020, an increase of approximately 7.5%[54]. - The fair value of non-listed bonds increased to HKD 112,844,000 as of September 30, 2020, from HKD 106,952,000 as of March 31, 2020, an increase of approximately 5.4%[57]. - The total fair value of listed bonds and non-listed fund bonds was HKD 778,827,000 as of September 30, 2020, compared to HKD 839,266,000 as of March 31, 2020, a decrease of approximately 7.2%[60]. - The amount receivable from related parties was HKD 1,256,000 as of September 30, 2020, down from HKD 1,496,000 as of March 31, 2020, a decrease of approximately 16.1%[65]. - Bank borrowings as of September 30, 2020, amounted to HKD 163,319,000, a decrease from HKD 198,164,000 as of March 31, 2020, representing a reduction of about 17.6%[72]. - Contract liabilities increased to HKD 68,008,000 as of September 30, 2020, compared to HKD 35,338,000 as of March 31, 2020, reflecting an increase of approximately 92.6%[73]. Business Segments - The group’s main business includes providing financial public relations services and coordinating international roadshow services, indicating a focus on service expansion[20]. - The profit from the financial public relations segment was HKD 65,885,000, while the international roadshow segment reported a loss of HKD 2,586,000, leading to a combined segment profit of HKD 63,299,000[36]. - The financial public relations segment reported revenue of approximately HKD 177.1 million for the six months ended September 30, 2020, a decrease of about 23.9% compared to HKD 232.6 million for the same period in 2019[106]. - The international roadshow services segment experienced a significant revenue decline of approximately 96.5%, with earnings of about HKD 2.3 million for the six months ended September 30, 2020, down from HKD 65.4 million in the previous year[107]. - The group's bond securities generated investment income of HKD 40.3 million for the six months ended September 30, 2020, compared to HKD 26.7 million for the same period in 2019, reflecting a growth of approximately 50.7%[107]. Shareholder Information - Major shareholder Sapphire Star holds 750,000,000 shares, representing 65.14% of the issued share capital as of September 30, 2020[85]. - Liu Tian Ni holds a total equity of 815,616,000 shares, which is 70.83% of the issued share capital as of September 30, 2020[86]. - Fidelity Fund Limited and Pandanus Associate Inc. each hold 106,208,000 shares, representing 9.22% of the issued share capital[86]. - The issued and fully paid ordinary shares remained at 1,151,454,000 shares as of September 30, 2020, unchanged from March 31, 2020[74]. Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring oversight of financial reporting and internal controls[142]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance for the six months ending September 30, 2020[141]. - The company has maintained the required public float as per listing regulations throughout the reporting period[139]. - The chairman and CEO roles are held by the same individual, Liu Tianqi, to provide consistent leadership[133]. Future Outlook - The outlook for the global economy remains weak due to the COVID-19 pandemic, with expectations for challenges ahead, but the company aims to maintain its leading market share in the Hong Kong IPO market[118]. - The company plans to utilize proceeds from its IPO for strategic acquisitions and investments, including HKD 19.8 million for acquiring a 5.11% stake in Wieconwena Group Limited[123]. - The company is focused on expanding its operations and enhancing service capabilities in response to market conditions[118].

Financial Performance - The company's profit attributable to owners decreased from approximately HKD 161.5 million for the year ended March 31, 2019, to HKD 75.7 million for the year ended March 31, 2020, representing a decrease of approximately 53.1%[17]. - Revenue declined from approximately HKD 651.4 million for the year ended March 31, 2019, to approximately HKD 450.5 million for the year ended March 31, 2020, a decrease of about 30.8%[19]. - The financial public relations services segment generated revenue of approximately HKD 373.2 million for the year ended March 31, 2020, down approximately 29.2% from HKD 526.9 million in the previous year[21]. - Profit from the financial public relations services segment was approximately HKD 112.9 million for the year ended March 31, 2020, a decrease of about 51.4% from HKD 232.2 million in the previous year[21]. - The international roadshow services segment's revenue decreased by approximately 37.9% to about HKD 77.3 million for the year ended March 31, 2020, down from HKD 124.5 million in the previous year[24]. - The company reported investment income of approximately HKD 52.2 million from debt instruments measured at fair value through other comprehensive income and financial assets measured at fair value through profit or loss, compared to HKD 43.3 million in the previous year[25]. - The company did not recommend a final dividend for the year ended March 31, 2020, compared to a dividend of HKD 0.027 per share in the previous year[18]. Assets and Liabilities - Total assets amounted to HKD 1,899.3 million as of March 31, 2020, compared to HKD 1,932.6 million as of March 31, 2019[8]. - Total liabilities decreased to HKD 414.9 million as of March 31, 2020, from HKD 434.6 million as of March 31, 2019[8]. - Equity attributable to owners of the company was HKD 1,484.4 million as of March 31, 2020, compared to HKD 1,498.0 million as of March 31, 2019[8]. - As of March 31, 2020, the total assets of the group were approximately HKD 1,899 million, with significant investments including HKD 106.95 million in Silverman International Holdings Limited, representing 5.63% of total assets[26]. - The group reported a bank balance and cash totaling approximately HKD 108.0 million as of March 31, 2020, down from HKD 158.9 million in 2019[30]. - The asset-liability ratio increased to 8.5% as of March 31, 2020, compared to 2.6% in 2019, indicating a rise in leverage[30]. Business Operations and Strategy - The group has invested in a diversified portfolio of debt securities, including fixed-rate bonds and high-yield bonds in the Greater China region[27]. - The proprietary app, Haotian Cloud, has over 100,000 verified registered users, including institutional investors and media professionals, enhancing customer engagement[37]. - The group expanded its presence in mainland China by opening offices in Beijing, Shanghai, Shenzhen, and Chengdu in 2019, aiming to provide better services to regional clients[38]. - The group successfully held nearly 100 high-profile events, including IPO ceremonies and industry summits, through the Haotian Cloud platform in 2019[37]. - The group aims to leverage its extensive client base and professional expertise to maintain its competitive advantage and expand its market presence despite global economic uncertainties[38]. Compliance and Governance - The company has a strong focus on maintaining compliance with regulatory requirements and has allocated personnel to ensure ongoing adherence to rules and regulations[62]. - The company is committed to complying with all regulatory requirements as a listed entity on the Hong Kong Stock Exchange[70]. - The company confirmed compliance with the standard code for securities trading by directors for the year ending March 31, 2020[126]. - The board is committed to high standards of corporate governance and has adhered to all relevant codes during the reporting period[124]. - The audit committee consists of three independent non-executive directors, responsible for reviewing financial reporting and internal controls[119]. Risk Management - The company identified key risks including operational and market risks, influenced by macroeconomic conditions and financial instability, particularly due to inconsistent financial policies globally[63]. - The company’s long-term profitability and business growth are affected by fluctuations in macroeconomic conditions, including stock index performance and capital demand[63]. - The company is actively monitoring foreign exchange risks, particularly with the stability of the HKD against the USD, and has no current hedging policy for RMB[31]. - The board is responsible for establishing risk management mechanisms and internal controls to ensure the company's core values and strategic deployment[144]. Employee and Stakeholder Relations - The company provides competitive compensation and medical insurance to its employees, adhering to labor laws and regulations[172]. - The company has established occupational safety and health guidelines to ensure a safe working environment for employees[173]. - The company encourages employees to engage in professional development and training to enhance skills and morale[175]. - The company has maintained effective communication with stakeholders to understand their perspectives and gather feedback[159]. - The company has a competitive compensation package and effective performance evaluation systems to drive employee development and recognize high-performing staff[65]. Environmental Responsibility - The company emphasized the importance of environmental protection and has implemented measures such as promoting a paperless office and using energy-efficient appliances to reduce energy consumption[59]. - The company consumed approximately 681,000 kWh of electricity during the fiscal year, resulting in CO2 equivalent emissions of about 552,000 kg, with an energy consumption intensity of approximately 26.8 kWh per square foot[167]. - The total number of printed sheets used in normal business operations was approximately 1.725 million sheets during the year[167]. - The company has implemented a green office program aimed at reducing energy consumption and improving resource efficiency[160]. Community Engagement - The group actively engages in community investment through charitable donations and encourages employee participation in community activities[184]. Financial Reporting - The company is responsible for preparing true and fair consolidated financial statements according to the Hong Kong Financial Reporting Standards and the Companies Ordinance[197]. - The management is tasked with overseeing the financial reporting process of the group[198]. - The auditors aim to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[199].

Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 298,025,000, a decrease of 14.5% from HKD 348,774,000 in the same period of 2018[24] - Gross profit for the same period was HKD 134,385,000, down 21.7% from HKD 171,605,000 year-on-year[24] - Profit before tax increased to HKD 116,941,000, up 8.0% from HKD 108,214,000 in the previous year[24] - Net profit for the period was HKD 97,492,000, representing an increase of 7.5% compared to HKD 90,900,000 in 2018[26] - Basic and diluted earnings per share were both HKD 0.082, an increase from HKD 0.076 in the prior year[26] - Total comprehensive income for the period was HKD 74,539,000, significantly up from HKD 28,651,000 in the same period last year[26] - The group reported a total segment profit of HKD 122,978,000, with public relations services generating HKD 100,094,000 and international roadshow services generating HKD 22,884,000[53] - The group’s pre-tax profit for the six months ended September 30, 2019, was HKD 116,941,000[53] - Profit increased by approximately 7.3% from HKD 90.9 million to HKD 97.5 million during the same period, mainly due to reduced investment losses[127] Assets and Liabilities - Non-current assets amounted to HKD 1,118,845,000, a decrease from HKD 1,308,747,000 as of March 31, 2019[28] - Current assets totaled HKD 925,367,000, an increase from HKD 623,863,000 as of March 31, 2019[28] - As of September 30, 2019, the total assets minus current liabilities amounted to HKD 1,542,123,000, an increase from HKD 1,499,821,000 as of March 31, 2019, representing a growth of approximately 2.83%[30] - The total equity as of September 30, 2019, was HKD 1,540,330,000, up from HKD 1,498,028,000 as of March 31, 2019, reflecting an increase of approximately 2.83%[30] - The company’s total liabilities as of September 30, 2019, were HKD 502,089,000, compared to HKD 432,789,000 as of March 31, 2019, reflecting an increase of about 15.99%[30] - The total assets of the group as of September 30, 2019, amounted to HKD 2,044,212,000, with public relations services holding HKD 886,389,000 in assets[61] - The total liabilities of the group as of September 30, 2019, were HKD 503,882,000, with public relations services accounting for HKD 111,388,000 of this total[61] Cash Flow and Investments - The net cash inflow from operating activities for the six months ended September 30, 2019, was HKD 185,926,000, compared to HKD 141,893,000 for the same period in 2018, indicating a year-over-year increase of about 31%[32] - The cash and cash equivalents at the end of the period were HKD 342,590,000, significantly higher than HKD 173,891,000 at the end of the same period last year, marking an increase of about 97%[32] - Investment income for the six months ended September 30, 2019, was HKD 26.7 million, down from HKD 39.1 million in the previous period[131] - The company recorded a gain of HKD 4.2 million from investment sales, compared to a loss of HKD 47.2 million in the previous period[131] Dividends and Shareholder Information - The company declared a final dividend of HKD 32,237,000 for the period, which was not present in the previous reporting period[34] - The company has not declared any dividends for the six months ending September 30, 2019, consistent with the previous year[142] - The company holds a significant equity interest of 67.56% in its subsidiary, Sapphire Star Investments Limited[155] - The company has a total of 806,640,000 shares, with 750,000,000 shares held by Mr. Liu Tianqi[155] Employee and Corporate Governance - The group has approximately 291 full-time employees as of September 30, 2019, with a compensation structure based on market terms and individual performance[170] - The company has adopted the standard code of conduct for securities trading as per the listing rules, ensuring compliance by all directors[173] - The audit committee consists of three independent non-executive directors, overseeing accounting principles and internal controls[174] - The company has complied with the corporate governance code, with minor deviations noted[167] Market Outlook and Strategic Initiatives - The company aims to enhance its competitive advantages through a comprehensive service offering and the development of a financial database platform[140] - The company remains confident in the prospects of the Hong Kong IPO market despite global economic uncertainties[140] - The company is focused on expanding its mobile internet professional services, with an investment of approximately HKD 26.1 million allocated for this purpose[149] - The company is actively pursuing market expansion and strategic partnerships to enhance its service offerings[149]

Financial Performance - The company's profit attributable to owners increased from approximately HKD 134.7 million for the year ended March 31, 2018, to approximately HKD 161.5 million for the year ended March 31, 2019, representing an increase of about 19.9%[14]. - Revenue increased from approximately HKD 479.6 million for the year ended March 31, 2018, to approximately HKD 651.4 million for the year ended March 31, 2019, reflecting an increase of about 35.8%[16]. - The profit for the financial public relations services segment was approximately HKD 232.2 million for the year ended March 31, 2019, an increase of about 55.7% from HKD 149.1 million in the previous year[18]. - The company’s earnings before tax for the year ended March 31, 2019, were HKD 195.8 million, compared to HKD 169.3 million in the previous year[4]. - The company reported a profit of HKD 161,513,000 for the year, compared to HKD 134,706,000 in the previous year, indicating an increase of about 19.8%[197]. - The total comprehensive income for the year was HKD 165,870,000, up from HKD 107,253,000 in 2018, marking an increase of approximately 54.5%[197]. - Basic earnings per share rose to HKD 0.135 from HKD 0.113, representing an increase of about 19.5%[191]. - Profit before tax increased to HKD 195,761,000 from HKD 169,292,000, reflecting a growth of about 15.6%[191]. Revenue Segments - The financial public relations services segment generated revenue of approximately HKD 526.9 million for the year ended March 31, 2019, up approximately 41.9% from HKD 371.3 million in the previous year[18]. - The revenue and profit from the international roadshow services increased by approximately 15.0% to HKD 124.5 million for the year ended March 31, 2018, compared to HKD 108.3 million in 2018, driven by an increase in the number of large IPOs in Hong Kong[23]. - Total revenue for the year ended March 31, 2019, was HKD 651,393,000, an increase from HKD 479,595,000 in the previous year, representing a growth of approximately 36%[191]. Assets and Liabilities - The total assets of the company as of March 31, 2019, were HKD 1,932.6 million, compared to HKD 2,378.9 million in the previous year[7]. - The total liabilities of the company as of March 31, 2019, were HKD 434.6 million, a decrease from HKD 1,026.9 million in the previous year[7]. - The group’s asset-to-liability ratio significantly decreased to 2.6% as of March 31, 2019, from 56.2% in 2018, due to the repayment of bank loans[25]. - The total liabilities decreased from HKD 1,025,887,000 in 2018 to HKD 432,789,000 in 2019, a reduction of approximately 57.8%[194]. - The total equity increased from HKD 1,352,040,000 in 2018 to HKD 1,498,028,000 in 2019, representing a growth of approximately 10.8%[194]. Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.027 per share for the year ended March 31, 2019, subject to approval at the upcoming annual general meeting[15]. - The company reported a final dividend of HKD 0.027 per share for the year ending March 31, 2019, pending shareholder approval[52]. - As of March 31, 2019, the company had approximately HKD 102.6 million available for distribution as reserves[72]. - The company will suspend shareholder registration procedures from October 4 to October 8, 2019, for the purpose of qualifying for the proposed final dividend[36]. Corporate Governance and Compliance - The company emphasizes the importance of compliance with regulatory requirements and has maintained a good working relationship with regulators[54]. - The audit committee consists of three independent non-executive directors, responsible for reviewing and supervising the group's financial reporting and internal controls[102]. - The company has adopted corporate governance practices in line with the listing rules, with a commitment to high standards[108]. - The independent non-executive directors have confirmed their independence according to the company's articles of association[76]. - The company has established a three-tier internal control mechanism to enhance risk management efficiency[126]. Employee and Operational Information - The group has 297 full-time employees as of March 31, 2019, with compensation packages generally based on market terms and individual performance[34]. - The company provides competitive compensation and medical insurance to its employees, adhering to labor laws and regulations[150]. - The company has established occupational safety and health guidelines to ensure a safe working environment for employees[151]. - The company encourages employees to optimize resource usage, including the use of public transportation[147]. Environmental and Social Responsibility - The company has implemented measures to reduce energy consumption, including promoting a paperless office and using energy-efficient appliances[53]. - The company consumed approximately 532,000 kWh of electricity during the fiscal year, resulting in CO2 equivalent emissions of about 419,000 kg, with an energy consumption intensity of approximately 20.9 kWh per square foot[146]. - The company has implemented a green office program aimed at reducing energy consumption and improving resource efficiency[141]. - The group aims to fulfill its corporate social responsibility by participating in charitable donations and encouraging employee involvement in community activities[162]. Risk Management - The company faces operational and market risks influenced by macroeconomic conditions and financial instability[55]. - The compliance department conducted an assessment of the company's risk management and internal control, indicating no significant weaknesses in internal controls[127]. - The company has implemented a strict anti-corruption policy, ensuring ethical standards and conflict of interest management[161].