Financial Performance - Revenue for the six months ended September 30, 2023, was HK$73,154,000, a decrease of 4.2% from HK$76,772,000 in the same period of 2022 [16]. - Operating profit decreased to HK$36,023,000, down 16.9% from HK$43,315,000 year-over-year [16]. - Profit attributable to owners of the Company for the period was HK$20,709,000, a decline of 23.3% compared to HK$27,016,000 in the prior year [16]. - Basic and diluted earnings per share decreased to 4.99 HK cents, down from 6.51 HK cents in the previous year [16]. - Profit before income tax was HK$25,493,000, down from HK$33,299,000, indicating a decline of 23.5% [50]. - The total comprehensive income attributable to owners of the Company for the period was HK$20,709,000, compared to HK$27,016,000, a decrease of 23.2% [50]. - The Group recorded other income of HK$0.6 million, down from HK$2.1 million in the previous period, primarily due to a decrease in rental income from investment properties [132]. - The current high interest rate environment and weakening economy in Mainland China have negatively impacted the Hong Kong economy and property market, leading to cautious investor behavior [180]. Financial Position - Total assets as of September 30, 2023, were HK$1,110,715,000, a decrease from HK$1,126,206,000 as of March 31, 2023 [17]. - Total equity attributable to owners of the Company increased to HK$800,029,000 from HK$784,715,000 at the end of March 2023 [17]. - Current liabilities decreased to HK$306,025,000 from HK$337,008,000 as of March 31, 2023 [18]. - Net current assets improved to HK$299,355,000, up from HK$263,368,000 at the end of March 2023 [18]. - Segment assets as of September 30, 2023, totaled HK$1,110,715,000, compared to HK$1,126,206,000 as of March 31, 2023 [52]. - Segment liabilities as of September 30, 2023, were HK$310,686,000, down from HK$341,491,000 [52]. - The Group's loans receivable, net of provision, was HK$831,530,000 as of September 30, 2023, down from HK$872,271,000 as of March 31, 2023, a decrease of about 4.7% [86]. Cash Flow - Cash generated from operating activities decreased to HK$62,198,000 in 2023 from HK$91,621,000 in 2022, representing a decline of 32% [22]. - Net cash generated from operating activities was HK$49,896,000, down 39% from HK$81,575,000 in the previous year [22]. - The total cash and cash equivalents at the end of the period stood at HK$41,704,000, down from HK$90,060,000 in 2022, a decrease of 54% [22]. - The Group's financing activities resulted in a net cash outflow of HK$38,027,000, compared to HK$2,225,000 in the prior period, reflecting increased repayment of borrowings [22]. Dividends and Shareholder Information - The Company declared dividends of HK$5,395,000, consistent with the previous year [16]. - A final dividend of HK1.3 cents per share, totaling HK$5,395,000, was declared in September 2023 [73]. - As of September 30, 2023, Chan Koung Nam holds 300,000 ordinary shares, representing 72.29% of the issued share capital of the company [186]. - Chan Kwong Yin William holds 305,760 ordinary shares, representing 73.68% of the issued share capital of the company [186]. - Tin Ching Holdings, a substantial shareholder, holds 300,000 ordinary shares, also representing 72.29% of the issued share capital [192]. - Head and Shoulders Global Investment Fund SPC holds 20,772 ordinary shares, representing 5.01% of the issued share capital [193]. Impairment and Provisions - For the six months ended September 30, 2023, the total provision for impairment and write-off of loans receivable and repossessed assets amounted to HK$4,060,000 [57]. - The provision for impairment of loans receivable included a reversal of HK$81,000 for Stage 1, a provision of HK$675,000 for Stage 2, and a provision of HK$2,934,000 for Stage 3, totaling HK$3,528,000 [57]. - The provision for impairment increased to HK$30,523,000 as of September 30, 2023, compared to HK$26,995,000 as of March 31, 2023, indicating a rise of about 9.4% [86]. - The total write-off of loans receivable for the six months ended September 30, 2023, was HK$88,000, compared to HK$33,000 in the same period of 2022 [57]. Business Segments - The Group's primary business segments include property mortgage loans and personal loans, with all revenue generated from external customers in Hong Kong [44]. - Revenue from property mortgage loans was HK$47,196,000, down from HK$50,376,000, representing a decline of 6.4% [54]. - Revenue from personal loans was HK$25,958,000, a slight decrease of 1.7% from HK$26,396,000 [54]. - The mortgage loan business contributed approximately 64.5% of the Group's revenue, while personal loans accounted for about 35.5% [125]. Administrative Expenses - Administrative expenses increased to HK$31,407,000 from HK$26,274,000, reflecting an increase of 19.5% [50]. - Administrative expenses increased by HK$5.1 million or 19.4% to HK$31.4 million, primarily due to higher employee benefit expenses and increased advertising and marketing spending [142]. Market Conditions and Strategy - The current high interest rate environment and weak property market in mainland China have negatively impacted Hong Kong's economy, leading to more cautious investment decisions [183]. - The company plans to closely monitor real estate market trends and adjust strategies accordingly, including diversifying the loan portfolio and tightening credit policies [183]. - The Group plans to diversify its loan portfolio and adjust credit policies in response to market challenges, focusing on high net-worth customers and personal loans with property owners [181]. Compliance and Risk Management - The Group's financial risk management policies have remained unchanged since the year-end, continuing to address market, credit, and liquidity risks [42]. - The Group has established policies to comply with the Money Lenders Ordinance and Anti-Money Laundering regulations, with no objections received regarding the renewal of its money lenders license [166]. - The Group has not experienced any significant foreign exchange risks as its business activities are denominated in Hong Kong dollars [173]. Other Financial Metrics - Current ratio improved to 1.98 as of 30 September 2023, up from 1.78 as of 31 March 2023 [159]. - Gearing ratio decreased to 0.31 as of 30 September 2023, down from 0.38 as of 31 March 2023 [159]. - Interest coverage ratio declined to 3.6 times for the current period, down from 4.8 times in the previous period [159]. - The weighted average effective interest rate on bank borrowings increased to 5.8% for the six months ended September 30, 2023, compared to 5.0% for the same period in 2022 [110].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容而產生或因倚賴該 等內容而引致之任何損失承擔任何責任。 Hong Kong Finance Group Limited 香港信貸集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1273） 截至2023年 9月30日止六個月之 中期業績公佈 香港信貸集團有限公司（「公司」或「本公司」）之董事會（「董事會」或「董事」）欣然公佈本公司及 其附屬公司（統稱「本集團」）截至2023年9月30日止六個月之中期業績，連同去年同期之比較 數字如下： 中期簡明綜合全面收入表 截至2023年9月30日止六個月 截至9月30日止六個月 2023年 2022年 附註 千港元 千港元 （未經審核） （未經審核） 收益 4, 5 73,154 76,772 其他收入 5 636 2,098 重估投資物業之公平值虧損 (2,300) (5,380) 應收貸款及收回資產減值撥備及撇銷淨額 6 (4,060) (3,901) ...

Financial Performance - The mortgage loan business contributed approximately 67.2% to the Group's revenue, with interest income increasing by 5.9% to HK$108.2 million for the current year[9]. - Interest income from the personal loan business increased by 2.7% to HK$52.7 million, contributing about 32.8% to the Group's revenue[9]. - Total interest income from the money lending business rose by HK$7.5 million or 4.9% to HK$161.0 million for the current year[14]. - The group's interest income from lending activities increased by HK$7.5 million or 4.9% to HK$161 million, primarily due to growth in mortgage loan income, which rose by HK$6 million or 5.9% to HK$108.2 million[19]. - Profit attributable to owners decreased by 16.6% to HK$58.9 million, but adjusted profit excluding fair value losses increased by 8.8% to HK$67 million[33]. Asset and Liability Management - The gross mortgage loan portfolio was HK$699.6 million as of March 31, 2023, despite a subdued economic environment[9]. - As of March 31, 2023, net current assets were HK$263.4 million, an increase from HK$244.7 million in 2022[35]. - The group had unutilized banking facilities amounting to HK$238.5 million as of March 31, 2023, with no significant capital expenditure commitments[37]. - The current ratio improved to 1.78 from 1.56 in 2022[42]. - The gearing ratio decreased to 0.38 in 2023 from 0.55 in 2022[42]. Impairment and Provisions - Provision for impairment and write-off of loans receivable was HK$5.8 million for the current year, a decrease from HK$6.5 million in the previous year[18]. - The provision for impairment and write-off of loans receivable was HK$5.8 million, a decrease from HK$6.5 million in 2022[22]. Market Conditions - The Centa-City Leading Index for the Hong Kong property market dropped from 179.36 in March 2022 to 156.37 in December 2022, reflecting a year-to-year decrease of 6.6%[10]. - The property market in Hong Kong showed signs of a mild rebound in early 2023, which may lead to an increase in property prices and demand for property loan products[80]. - There is a risk of interest rate hikes due to continued monetary policy tightening in the United States, which could pressure investment activities and the property market in Hong Kong[81]. Corporate Governance - The Board consists of seven Directors, including four executive Directors and three independent non-executive Directors, ensuring a balance of skills in various fields such as accounting, business, and finance[114]. - The independent non-executive Directors have confirmed their independence in writing for the year ended March 31, 2023, in accordance with Rule 3.13 of the Listing Rules[121]. - The Company has complied with Listing Rules requiring at least three independent non-executive Directors, representing at least one-third of the Board[123]. - The Board's main task is to supervise and direct the management to maximize shareholder value while balancing stakeholder interests[126]. - The Group's management is tasked with developing and reviewing corporate governance policies and practices, ensuring compliance with legal and regulatory requirements[130]. Board Composition and Diversity - As of March 31, 2023, the Board consisted of one female and six male directors, reflecting the company's commitment to gender diversity[197]. - The company appointed Ms. Chan Siu Ching as its first female executive director on November 1, 2022, as part of its Board Diversity Policy[197]. - The Nomination Committee is responsible for ensuring a balance of skills and experience on the Board and maintaining the minimum number of independent non-executive directors as required by Listing Rules[190]. - The company aims to uphold the principle of merit-based appointments while adhering to its Board Diversity Policy[197]. Risk Management - The Group has implemented sufficient internal control and risk management procedures as part of its corporate governance framework[131]. - The company ensured that employees could confidentially raise concerns about financial reporting and internal control matters through a whistleblowing policy[157]. Audit and Compliance - The Audit Committee was established to oversee the company's financial statements, risk management, and internal control systems, ensuring compliance with Listing Rules[149]. - The company confirmed that all Directors complied with the Model Code for securities transactions throughout the year under review[148]. - The external auditor, PricewaterhouseCoopers, was paid HK$740,000 for the audit of the annual consolidated financial statements for the year ended 31 March 2023, down from HK$800,000 in 2022[165].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部分內容而產生或因倚賴該 等內容而引致之任何損失承擔任何責任。 Hong Kong Finance Group Limited 香港信貸集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1273） 截至2023年 3月31日止年度之 末期業績公佈 香港信貸集團有限公司（「公司」或「本公司」）之董事會（「董事會」或「董事」）欣然公佈本公司及 其附屬公司（統稱為「本集團」）截至2023年3月31日止年度之經審核綜合末期業績，連同去年 同期之比較數字如下： 綜合全面收入表 截至2023年3月31日止年度 截至3月31日止年度 2023年 2022年 附註 千港元 千港元 收益 5 160,974 153,488 其他收入 5 3,277 1,394 重估投資物業之公平值（虧損）╱收益 (8,130) 8,980 應收貸款減值撥備及撇銷淨額 6 (5,758) (6,513) 行政開支 7 (57,226) (53,060) 經營溢利 93,137 104,289 ...

Financial Overview - The interim financial information includes the consolidated statement of financial position as of September 30, 2022, and the comprehensive income statement for the six-month period then ended[9]. - The company reported compliance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" in the preparation of its interim financial information[10]. - PricewaterhouseCoopers conducted the review of the interim financial information and found no significant issues[10]. - The report outlines the responsibilities of the board of directors in preparing the interim financial information[9]. - Total assets as of September 30, 2022, amounted to HK$1,207,343,000, an increase from HK$1,177,075,000 as of March 31, 2022, representing a growth of 2.6%[16]. - Total equity attributable to owners of the Company increased to HK$758,241,000 from HK$736,620,000, reflecting a rise of 2.9%[16]. - Current liabilities totaled HK$444,625,000, slightly up from HK$436,239,000, indicating an increase of 1.0%[18]. - Cash and cash equivalents rose significantly to HK$90,060,000 from HK$24,882,000, marking an increase of 262.5%[16]. - Loans receivable decreased to HK$569,008,000 from HK$621,809,000, a decline of 8.5%[16]. Revenue and Profitability - Revenue for the six months ended September 30, 2022, was HK$76,772,000, an increase from HK$74,902,000 in the same period of 2021, representing a growth of 2.5%[14]. - Operating profit decreased to HK$43,315,000, down from HK$52,794,000 in the previous year, reflecting a decline of 17.9%[14]. - Profit attributable to owners of the Company for the period was HK$27,016,000, compared to HK$35,515,000 in 2021, a decrease of 23.8%[14]. - Basic and diluted earnings per share were both HK$6.51, down from HK$8.56 in the prior year, indicating a decline of 24.0%[14]. - Revenue from property mortgage loans was HK$50,376,000, up from HK$48,295,000, indicating a growth of 4.3%[38]. - Revenue from personal loans was HK$26,396,000, slightly down from HK$26,607,000, reflecting a decrease of 0.8%[38]. Expenses and Costs - For the six months ended September 30, 2022, employee benefit expenses increased to HK$12,217,000 from HK$10,473,000 in the same period of 2021, representing a 16.7% increase[46]. - Advertising and marketing expenses rose to HK$5,523,000, up from HK$3,637,000, reflecting a 51.9% increase year-over-year[46]. - Total finance costs for the six months ended September 30, 2022, were HK$10,135,000, a decrease from HK$10,837,000 in the previous year[48]. - The total administrative expenses for the six months ended September 30, 2022, were HK$26,274,000, an increase from HK$22,890,000 in the previous year[46]. Cash Flow and Investments - Net cash generated from operating activities for the six months ended September 30, 2022, was HK$81,575,000, compared to a net cash used of HK$27,253,000 in the same period of 2021, indicating a significant improvement[22]. - Total cash used in investing activities was HK$14,172,000, up from HK$873,000 in the prior year, indicating increased investment activity[22]. - The Group invested HK$14,000,000 in a joint venture during the reporting period, compared to no investment in the same period of the previous year[22]. Governance and Management - The company appointed new directors and committee members as of November 1, 2022, indicating a potential shift in governance[3]. - The management discussion and analysis section is included in the report, providing insights into the company's performance[2]. - The audit committee reviewed the unaudited interim results in conjunction with the management and independent auditors[189]. Shareholder Information - The Company declared dividends of HK$5,395,000, consistent with the previous year, maintaining a stable dividend policy[14]. - A final dividend of HK1.3 cents per share was declared, amounting to HK$5,395,000, related to the year ended March 31, 2022[59]. - The Company declared an interim dividend of HK1.3 cents per share for the current period, consistent with the previous year[190]. Risk Management - The Group's financial risk management includes exposure to market risk, credit risk, and liquidity risk, which are critical for maintaining financial stability[30]. - The Group has not made any changes to its risk management policies since year-end[32]. - The Group did not use derivative financial instruments to hedge against foreign exchange risks, as business activities were denominated in Hong Kong dollars[139]. Market Conditions and Outlook - The outlook for the second half of the financial year is expected to remain challenging, with potential interest rate increases by the Federal Reserve of 0.5% to 0.75%[142]. - The Centa-City Leading Index decreased by 8.1% from 179.36 in March 2022 to 164.78 in November 2022, indicating a correction in the Hong Kong property market[103].

Revenue and Loan Portfolio - The mortgage loan business contributed approximately 66.6% to the Group's revenue, with interest income decreasing by 6.8% to HK$102.2 million[7]. - The gross mortgage loan portfolio increased to HK$766.1 million as of March 31, 2022[7]. - Interest income from unsecured personal loans rose by 12.0% to HK$51.3 million, accounting for about 33.4% of the Group's revenue[7]. - The gross personal loan portfolio was HK$186.3 million as of March 31, 2022[7]. - Interest income from the money lending business decreased by HK$2.0 million or 1.3% from HK$155.5 million to HK$153.5 million, primarily due to a decrease in mortgage loan interest income[9]. - Interest income from the mortgage loan business decreased by HK$7.5 million or 6.8% from HK$109.7 million to HK$102.2 million, while personal loan interest income increased by HK$5.5 million or 12.0% from HK$45.8 million to HK$51.3 million[9]. Economic Environment and Challenges - The ongoing COVID-19 pandemic and geopolitical tensions have created significant economic uncertainties impacting the Hong Kong economy[7]. - The Group's performance was affected by the fifth wave of COVID-19, which severely impacted business activities in early 2022[7]. - The economic environment remains challenging, necessitating a cautious approach to lending and credit management[7]. - The economic recovery in Hong Kong is expected to be influenced by the pandemic's development and government recovery strategies, with ongoing uncertainties from global factors such as the Russia-Ukraine conflict and U.S. interest rate hikes[40]. - The Group anticipates that the global and Hong Kong economic outlook will remain sluggish, posing challenges to mortgage and personal loan products[40]. Strategic Initiatives - The Group adopted prudent measures, including strict credit policies and loan-to-value ratio controls, to maintain its loan portfolio and generate stable interest income[7]. - The Group's strategy includes diversifying into unsecured personal loan products to enhance overall interest margins[7]. - The Group plans to implement cautious credit policies and increase business with high net-worth customers, focusing on personal loans for property owners[41]. - The Group aims to leverage its brand and experience in the money lending industry to stabilize its position and prepare for future economic recovery[41]. Financial Performance - Profit attributable to owners decreased by 3.6% to HK$70.6 million from HK$73.2 million last year[19]. - As of March 31, 2022, the Group recorded net current assets of HK$244.7 million, a decrease from HK$286.7 million in 2021[23]. - Cash and cash equivalents amounted to HK$24.9 million as of March 31, 2022, down from HK$80.0 million in 2021[23]. - Interest-bearing bank and other borrowings increased to HK$293.8 million in 2022 from HK$177.1 million in 2021[23]. - The current ratio decreased to 1.56 in 2022 from 1.72 in 2021[28]. - The gearing ratio increased to 0.55 in 2022 from 0.48 in 2021[28]. - The return on equity ratio was 9.6% for the year ended March 31, 2022, compared to 10.8% in 2021[28]. Corporate Governance - The Company has adopted and complied with the Code Provisions during the year ended 31 March 2022[47]. - The Board conducts ongoing comprehensive reviews of the Group's business strategies and policies to adapt to major market changes and seize long-term business opportunities[51]. - The Company has established a whistleblowing policy to ensure employees can report misconduct confidentially without fear of retaliation[52]. - The Group's culture of accountability is supported by strong leadership from the Board and clear objectives set in business plans and budgets[50]. - The Company has implemented an Anti-Corruption and Bribery Policy to guide employees in recognizing and dealing with bribery and corruption[60]. Risk Management - The Board acknowledges its duty to oversee the Company's risk management and internal control systems on an ongoing basis, reviewing their effectiveness at least annually[148]. - During the year, no significant risks were identified under financial and compliance risk categories, with principal risks classified into strategic and operational risks[150]. - The Group maintains a risk register to track identified risks, providing a profile of major risks and management's actions to mitigate them[149]. - The prolonged COVID-19 situation in Hong Kong poses operational risks, potentially disrupting normal business operations if employees are quarantined[152]. - The decline in the value of mortgaged properties increases the risk of recovering the full amount of loans, impacting the Group's financial stability[152]. Stakeholder Engagement - The Group emphasizes the importance of stakeholder insights for business activities[199]. - Key stakeholders have been identified, and various communication channels have been established[200]. - The Group is committed to developing mutually beneficial relationships with stakeholders[198]. Shareholder Communication - The company has established a Shareholders' communication policy to ensure timely access to balanced and understandable information regarding financial performance and strategic goals[165]. - The company has committed to a proactive investor relations policy, maximizing the use of its website for timely disclosures to shareholders and stakeholders[168]. - The company encourages shareholders to attend meetings to stay informed about business developments and express concerns to management[168].

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*香 港 信 貸 Hong Kong Finance 香 港 信 貸 集 團 有 限 公 司 Hong Kong Finance Group Limited (Incorporated in the Cayman Islands with limited liability) Stock Code: 1273 (於同曼群島註冊成立之有限公司）股份代號：1273 ANNUAL REPORT 年報 O o O CONTENTS 目錄 2 Corporate Information 公司資料 4 Management Discussion and Analysis 管理層討論及分析 | --- | --- | --- | |-------|-----------------------------------------------------|----------------------| | | | | | | | | | | 12 Corporate Governance Report | 企業管治報告 | | | 35 Environmental, Social and Governance Report ...

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