Financial Performance - The company reported revenue of HKD 189,970,000 for the six months ended September 30, 2021, representing an increase of 2.3% compared to HKD 185,537,000 in the same period last year[3]. - The pre-tax profit for the period was HKD 450,316,000, significantly up from HKD 83,266,000 in the previous year, marking a year-over-year increase of 441.5%[3]. - The net profit for the period reached HKD 432,562,000, compared to HKD 70,151,000 in the prior year, reflecting a substantial growth of 516.5%[3]. - Total comprehensive income for the period was HKD 432,586,000, compared to HKD 85,476,000 in the same period last year, representing an increase of 406.5%[5]. - The company declared a dividend of HKD 150,000,000, an increase from HKD 125,000,000 in the previous year, indicating a 20% rise in shareholder returns[5]. Assets and Liabilities - The company's total assets as of September 30, 2021, amounted to HKD 5,013,085,000, up from HKD 4,749,143,000 at the end of the previous reporting period[6]. - The net asset value increased to HKD 4,378,632,000 from HKD 4,021,046,000, reflecting a growth of 8.9%[9]. - The company’s total assets as of September 30, 2021, amounted to HKD 5,347,433 thousand, with total liabilities of HKD 968,801 thousand[23]. - The total assets of the company as of September 30, 2021, amounted to HKD 4,777,344,000, with total liabilities of HKD 756,298,000[26]. - The company’s total liabilities from margin clients increased to HKD 451,752,000 as of September 30, 2021, compared to HKD 295,300,000 as of March 31, 2021[38]. Cash Flow and Operating Activities - The company reported a net cash generated from operating activities of HKD 804,166 thousand for the six months ended September 30, 2021, compared to a net cash used of HKD 385,938 thousand in the same period of 2020[14]. - The company’s cash and cash equivalents in general accounts increased to HKD 1,206,601,000 from HKD 328,186,000, showing a substantial growth of 267.5%[6]. - The company’s financing activities resulted in a net cash used of HKD 79,529 thousand for the six months ended September 30, 2021, compared to a net cash provided of HKD 583,548 thousand in the same period of 2020[14]. - Cash and bank balances reached HKD 1,206,600,000, significantly up from HKD 328,200,000 as of March 31, 2021, primarily due to cash inflows from the sale of subsidiaries and receivables[79]. Shareholder Information - The company declared a final dividend of HKD 0.03 per share for the year ended March 31, 2021, and proposed an interim dividend of HKD 0.03 per share for the six months ended September 30, 2021, totaling HKD 150,000,000 compared to HKD 125,000,000 in the previous year[28]. - The company reported a profit attributable to equity holders of HKD 432,562,000 for the six months ended September 30, 2021, compared to HKD 70,151,000 for the same period in 2020, representing a significant increase[30]. - The company has a total of 1,824,690,171 shares held by Jiekou Holdings, representing 72.99% of the issued share capital[98]. - Honeylink holds 1,824,690,171 shares, also accounting for 72.99% of the issued share capital[98]. - The beneficial owner, Mr. Hong Hanwen, has control over 1,875,000,000 shares, which is 75.00% of the company's shares[98]. Operational Highlights - The brokerage segment generated revenue of HKD 37,310 thousand, while the securities underwriting segment contributed HKD 150,330 thousand for the six months ended September 30, 2021[22]. - The investment segment reported no revenue for the six months ended September 30, 2021, while the corporate finance segment generated HKD 2,330 thousand[22]. - The group completed 5 financial advisory projects during the period, up from 4 projects in 2020, with a profit of approximately HKD 2.1 million[73]. - The group had no significant contingent liabilities as of the reporting date[81]. - The group completed the sale of NobleNet Limited for HKD 457,000,000 on May 24, 2021, with NobleNet no longer being a subsidiary post-sale[84]. Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules during the reporting period[101]. - The audit committee reviewed the unaudited condensed consolidated interim financial statements for the six months ending September 30, 2021[102]. - All directors confirmed compliance with the required standards of the trading code during the review period[103]. - The company’s independent non-executive director, Ms. Wu Youjuan, resigned from her position at another listed company effective July 27, 2021[105]. - The chairman of the company is Mr. Hong Hanwen, with Mr. Cen Jianwei as the managing director and Mr. Hong Ruikun as the CEO[107].

Get Nice Financial Group Limited 結好金融集團有限公司 (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） Stock code 股份代號 : 1469 | --- | --- | --- | |---------------|-------|-------| | | | | | Annual Report | | | | 2021 年 報 | | | | | | | | | | | | | | | | | | | CONTENTS 目 錄 CORPORATE INFORMATION 2 公司資料 CHAIRMAN'S STATEMENT AND MANAGEMENT DISCUSSION AND ANALYSIS 4 主席報告書及管理層討論及分析 BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT 12 董事及高級管理層履歷 CORPORATE GOVERNANCE REPORT 15 企業管治報告 DIRECTOR ...

Financial Performance - Total revenue for the six months ended September 30, 2020, was HKD 185,537,000, a decrease of 3.6% from HKD 191,701,000 in the same period last year[8]. - The net profit for the period was HKD 70,151,000, representing an increase of 18.8% compared to HKD 59,026,000 in the previous year[8]. - The company reported a total comprehensive income of HKD 85,476,000, up from HKD 59,918,000, marking a year-on-year increase of 42.6%[11]. - Basic and diluted earnings per share increased to HKD 2.8 from HKD 2.4, an increase of 16.7%[11]. - The group reported a segment profit of HKD 88,362,000 for the combined operations, reflecting strong performance across its business segments[41]. - Profit attributable to the company's owners for the period was approximately HKD 70.2 million, an increase from HKD 59 million in 2019, primarily due to reduced financing costs from convertible bonds[86]. - Basic earnings per share increased to HKD 2.8, up from HKD 2.4 in 2019, reflecting the increase in profit[87]. Revenue Breakdown - Segment revenue for brokerage was HKD 31,110,000, while the revenue from margin financing was HKD 153,567,000, contributing to a total segment revenue of HKD 185,537,000[41]. - Revenue from the brokerage segment increased by 46.7% to approximately HKD 31.1 million, compared to HKD 21.2 million in the previous fiscal period[94]. - Interest income from securities margin financing decreased by 9.8% to approximately HKD 153.6 million, down from HKD 170.3 million in 2019[95]. Assets and Liabilities - Total assets as of September 30, 2020, were HKD 5,054,006,000, compared to HKD 4,294,585,000 at the end of the previous period[13]. - The total assets of the group as of September 30, 2020, amounted to HKD 5,197,504,000, with total liabilities of HKD 1,230,555,000, indicating a healthy asset-liability ratio[44]. - The company’s total liabilities as of September 30, 2020, were HKD 487,807,000, with allocated liabilities primarily in securities and margin financing[47]. - As of September 30, 2020, the total accounts payable from securities trading amounted to HKD 581,170,000, an increase from HKD 478,475,000 as of March 31, 2020, representing a growth of approximately 21.5%[63]. Cash Flow - For the six months ended September 30, 2020, the net cash used in operating activities was HKD (385,938,000), compared to HKD (280,923,000) in 2019, indicating a significant increase in cash outflow[27]. - The net cash generated from financing activities was HKD 583,548,000, a substantial increase from HKD 84,105,000 in the previous year, reflecting improved financing conditions[27]. - Total cash and cash equivalents at the end of the period increased to HKD 410,690,000 from HKD 226,067,000 in the prior year, showing a positive cash flow trend[27]. - Bank balances and cash on hand increased to HKD 410,700,000 from HKD 260,900,000 as of March 31, 2020, primarily due to cash inflow from loans from the ultimate holding company[103]. Dividends and Retained Earnings - The company declared a dividend of HKD 125,000,000, down from HKD 175,000,000, indicating a decrease of 28.6%[11]. - The group’s retained earnings decreased by HKD 100,000,000 due to dividend distributions during the period[25]. - The interim dividend proposed is HKD 75,000,000, maintaining the same per share dividend of HKD 0.03 as in 2019[50]. Employee and Management Information - The total remuneration for directors and key management personnel for the six months ended September 30, 2020, was HKD 1,792,000, a decrease from HKD 1,949,000 in 2019, representing a decline of approximately 8.1%[82]. - The group had a total of 58 full-time employees as of September 30, 2020, down from 59 as of March 31, 2020[110]. Corporate Governance - The company has adhered to the corporate governance code as per the listing rules during the period ending September 30, 2020[133]. - The audit committee reviewed the unaudited condensed consolidated interim financial statements for the six months ending September 30, 2020[136]. - All directors confirmed compliance with the standard code for securities trading throughout the review period[137]. - There have been no changes in director information since the publication of the annual report for the year ending March 31, 2020[138].

Financial Performance - For the year ended March 31, 2020, the Group's revenue was approximately HK$369.4 million, a decrease of 8.0% compared to HK$401.6 million in the previous year[22]. - Profit attributable to owners of the Company was approximately HK$139.7 million, an increase from HK$133.0 million in 2019, mainly due to reduced finance costs and no loss on redemptions of convertible bonds during the year[23]. - Basic earnings per share increased to HK6 cents from HK5 cents in 2019, reflecting the increase in profit[24]. - The Group recorded net impairment losses on accounts receivable from margin clients of HK$110.9 million, significantly higher than HK$20.1 million in the previous year[23]. - The decrease in revenue was primarily due to a reduction in brokerage commission resulting from lower turnover during the year[22]. - Total interest income from securities margin financing dropped by 4.4% to approximately HK$325.2 million, with total gross accounts receivable from margin clients at approximately HK$3,692.3 million[36]. - The broking business reported a profit of approximately HK$4.0 million for the year, a decrease of 77.4% from HK$17.7 million in 2019, with revenue from broking decreasing by 25.8% to approximately HK$43.9 million[36]. - The corporate finance business completed 2 financial advisory transactions during the year, down from 5 in 2019, reporting a segment profit of approximately HK$0.2 million[39]. Market Conditions - The Hong Kong stock market experienced volatility, with the Hang Seng Index reaching a high of 30,280 points in April 2019 before a sharp decline due to trade negotiation breakdowns[29]. - The Hang Seng Index closed at 23,603 points at the end of March 2020, a decrease of 18.8% compared to 29,051 points at the end of March 2019[36]. - Average daily turnover on the Main Board and GEM during the year ended 31 March 2020 was approximately HK$92.2 billion, a decrease of 4.4% from approximately HK$96.4 billion for the prior financial year[36]. - The management expects the overall economy and stock market in Hong Kong to remain weak due to disruptions from COVID-19 and potential US-China trade war[40]. Cost Management and Strategy - Operating expenses were generally in line with revenue, indicating effective cost management despite the revenue decline[22]. - The Group's strategic focus remains on managing finance costs and improving asset quality to enhance profitability in the future[23]. - The Group plans to regularly review and adjust business strategies with a prudent risk management approach[42]. - The Group is positioned to expand its services to affluent and high-net-worth clients to maximize returns and value for shareholders[42]. Financial Position - As of March 31, 2020, equity attributable to owners of the Company was approximately HK$3,931.5 million, a decrease of approximately HK$34.3 million or 0.9% from the previous year[46]. - The Group's net current assets amounted to HK$3,810.7 million, with a current ratio of 8.88 times, significantly up from 3.67 times in 2019[46]. - Bank balances and cash on hand decreased to HK$260.9 million, primarily due to cash outflows of HK$262.5 million for the redemption of convertible bonds[46]. - The Group had no bank borrowings as of March 31, 2020, and its gearing ratio was zero, compared to 0.06 in the previous year[46]. Employee and Remuneration - The total remuneration cost for employees was HK$19.9 million, an increase from HK$18.9 million in 2019[51]. - The remuneration package for directors includes basic salary, discretionary bonuses, retirement scheme contributions, and share options[184]. - The annual remuneration for senior management was disclosed by band, with three members earning up to HK$1,000,000 and one member earning between HK$1,000,001 and HK$2,000,000[189]. - The primary aim of the remuneration policy is to motivate and retain executive directors and senior management by aligning their performance with corporate goals[184]. Corporate Governance - The company emphasizes the importance of corporate governance through its various committees[84]. - The Board comprises six members, with half being non-executive and independent, ensuring a balance of skills and experience[112]. - The Company has complied with the Corporate Governance Code provisions during the year ended March 31, 2020[101]. - The Board has established three committees: Nomination Committee, Remuneration Committee, and Audit Committee, to oversee various aspects of corporate governance[168]. - The Company ensures compliance with the Listing Rules by maintaining at least three independent non-executive Directors, with one possessing appropriate professional qualifications in finance[161]. - The Company has adopted a dividend policy to maintain adequate cash reserves for future growth, with the Board having full discretion to declare dividends subject to shareholder approval[162]. Board Structure and Meetings - The Board consists of six members, with three being independent non-executive directors, complying with the listing rules[115]. - The Board meets at least four times a year to discuss business development and financial performance[137]. - The company has arranged liability insurance for its directors and officers, reviewed annually to ensure adequate protection[124]. - The Nomination Committee held two meetings during the year ended March 31, 2020, focusing on the evaluation of independent non-executive directors' independence and reviewing the board's structure and diversity[178]. Audit and Financial Reporting - The Audit Committee is responsible for overseeing the financial reporting process and has independent communication with external auditors[192]. - The Directors confirmed their responsibility for preparing the financial statements for the year ended March 31, 2020, ensuring compliance with applicable regulatory requirements and accounting standards[197]. - The financial statements for the year ended March 31, 2020, were prepared on a going concern basis, with no material uncertainties identified[197]. - The Audit Committee reviewed connected transactions and compliance with relevant disclosures during the year[194].

Financial Performance - The company reported revenue of HKD 191,701,000 for the six months ended September 30, 2019, a decrease of 7.4% compared to HKD 206,841,000 in the same period last year[3]. - The pre-tax profit was HKD 76,532,000, down 8.5% from HKD 83,656,000 year-on-year[3]. - The net profit for the period was HKD 59,026,000, representing an increase of 7.3% compared to HKD 54,765,000 in the previous year[3]. - The total comprehensive income for the period was HKD 59,918,000, compared to HKD 56,339,000 in the same period last year, indicating a growth of 4.6%[4]. - The group reported a profit attributable to equity holders of HKD 58,957,000 for the six months ended September 30, 2019, compared to HKD 54,765,000 for the same period in 2018, reflecting an increase of approximately 4.4%[22]. - Profit attributable to the company's owners for the period was approximately HKD 59 million, an increase from HKD 54.8 million in 2018, primarily due to reduced financing costs[49]. - Basic earnings per share increased to HKD 0.024 from HKD 0.022 in 2018, reflecting the rise in profit[50]. Dividend and Shareholder Returns - The company declared a dividend of HKD 175,000,000, up from HKD 150,000,000 in the prior year, reflecting a 16.7% increase[4]. - The company declared an interim dividend of HKD 3.0 per share, totaling HKD 75,000,000, consistent with the previous year's interim dividend[20]. - The interim dividend declared for the six months ended September 30, 2019, is HKD 0.03 per share, payable on or around December 27, 2019[47]. Assets and Liabilities - The company’s total assets amounted to HKD 5,188,121,000, slightly down from HKD 5,283,929,000 at the end of March 2019[6]. - The total assets of the company as of September 30, 2019, amounted to HKD 5,312,053,000, while total liabilities were HKD 1,386,204,000[18]. - The company’s total equity as of September 30, 2019, was HKD 3,925,849,000, reflecting a decrease from HKD 4,025,849,000 in the previous year[18]. - The group’s liabilities totaled HKD 1,442,040,000 as of September 30, 2019, with total equity holders' funds amounting to HKD 3,965,931,000[19]. - The company’s equity attributable to owners was approximately HKD 3,925,800,000, a decrease of about HKD 40,100,000 or 1.0% compared to March 31, 2019[58]. Cash Flow and Financing - The company reported a net cash outflow from operating activities of HKD (280,923,000) for the six months ended September 30, 2019, compared to a net inflow of HKD 468,355,000 in the same period of 2018[9]. - The company’s cash and cash equivalents decreased by HKD 196,875,000, ending the period with HKD 226,067,000 compared to HKD 399,247,000 at the end of the previous year[9]. - The company had a bank balance and cash on hand of HKD 226,100,000, a decrease from HKD 422,900,000 as of March 31, 2019, mainly due to an increase in receivables[59]. - The capital debt ratio as of September 30, 2019, was 0.11 times, an increase from 0.06 times on March 31, 2019, primarily due to increased bank borrowings and loans from the ultimate holding company[60]. Operational Challenges - The company’s impairment loss on receivables increased significantly to HKD 55,432,000 from HKD 5,719,000 in the previous year, highlighting potential challenges in credit management[3]. - The brokerage segment generated revenue of HKD 21,165,000, down from HKD 32,487,000 in the previous year, indicating a decline of approximately 34.9%[17]. - The company’s financing segment reported a profit of HKD 114,897,000, compared to HKD 167,320,000 in the same period last year, a decrease of about 31.3%[17]. - The brokerage business recorded a loss of approximately HKD 100,000, a decline of 101.4% from a profit of HKD 7.1 million in 2018, due to reduced trading volume and fewer large corporate financing transactions[53]. - Interest income from securities margin financing decreased by 1.6% to approximately HKD 170.3 million, compared to HKD 173 million in 2018[54]. Employee and Corporate Governance - The total employee compensation cost for the group during the period was HKD 10,000,000, an increase from HKD 9,300,000 in the previous year[66]. - The group employed 61 full-time employees as of September 30, 2019, an increase from 59 as of March 31, 2019[66]. - The company has adhered to the corporate governance code as per the listing rules during the period ending September 30, 2019[77]. - All directors confirmed compliance with the standards set out in the "Model Code" for securities transactions during the review period[81]. Risk Management and Future Outlook - The group plans to adopt a prudent and balanced risk management approach to navigate future challenges and maintain client confidence[57]. - The management remains cautiously optimistic about future business development, leveraging the opportunities from the Greater Bay Area and the Belt and Road Initiative[56].

Financial Performance - For the year ended March 31, 2019, the Group's revenue was approximately HK$401.6 million, a decrease of 8.7% compared to HK$440.1 million in the previous year[10]. - Profit attributable to owners of the Company was approximately HK$133.0 million, down from HK$276.9 million in 2018, primarily due to decreased revenue and increased finance costs[11]. - Basic earnings per share for the year were HK5 cents, a decrease from HK11 cents in 2018[12]. - The decrease in revenue was mainly attributed to a decline in brokerage commission due to lower turnover during the year[10]. - The broking business reported a profit of approximately HK$17.7 million for the year ended March 31, 2019, a decrease of 75.3% compared to HK$71.6 million in 2018[24]. - Revenue from broking decreased by 43% to approximately HK$59.2 million, down from HK$103.9 million in the previous year[24]. - Total interest income from securities margin financing increased by 1.6% to approximately HK$340.3 million, compared to HK$334.8 million in 2018[25]. - The total outstanding loan of securities margin financing as of March 31, 2019, was approximately HK$3,732.6 million, down from HK$4,091.5 million a year earlier[25]. Market Conditions - The average daily turnover on the Main Board and GEM during the year was approximately HK$96.4 billion, a decrease of 9.2% compared to approximately HK$106.2 billion in the prior financial year[20]. - The Hang Seng Index closed at 29,051 points at the end of March 2019, down from 30,093 points at the end of March 2018[20]. - The average daily trading volume on the main board and GEM decreased by 9.2% to approximately HK$964 billion compared to HK$1,062 billion in the previous fiscal year[22]. Expenses and Costs - The Group recorded imputed interest expenses from convertible bonds of HK$96.7 million during the year, up from HK$57.7 million in 2018[11]. - Loss on redemptions of convertible bonds amounted to HK$38.9 million, with total principal amounts of HK$262.5 million redeemed during the year[11]. - Impairment losses on loans to securities margin clients were HK$20.1 million, compared to HK$Nil in the previous year[11]. - The Group's operating expenses were generally in line with revenue, indicating stable cost management despite revenue fluctuations[10]. Corporate Governance - The company emphasizes good corporate governance practices to enhance transparency and accountability to shareholders, believing it is crucial for maintaining investor confidence[84][90]. - The board of directors is responsible for major company matters, including policy approval, strategy oversight, and financial information management[87][93]. - The company has complied with the Corporate Governance Code provisions during the year ended March 31, 2019, as per the Listing Rules of the Hong Kong Stock Exchange[86][92]. - The company has a structured approach to risk management and internal controls, ensuring all significant transactions require board approval[88][93]. - The company is committed to continuous improvement in corporate governance to foster a responsible organizational culture[84][90]. Management and Leadership - The chairman of the board is Hung Hon Man, who has over 24 years of experience in the securities industry[63]. - Executive Director and CEO Hung Sui Kwan is responsible for corporate strategy and daily operations[60]. - The company has a strong management team with extensive experience in the securities business[60]. - The company is focused on business development and overall management strategies[60]. - The company has appointed independent non-executive directors with extensive experience in the financial and securities industries, including Mr. Cheung Chi Kong and Mr. Chan Ka Kit, both appointed on March 16, 2016[69][70]. Risk Management - The Group will continue to maintain a balanced risk management approach while adjusting business strategies regularly[34]. - The Company ensures that independent non-executive Directors provide unbiased opinions on business strategy and performance[152]. - The Audit Committee is responsible for overseeing the financial reporting process and has independent communication with external auditors[183]. - The company has implemented procedures to monitor compliance with the non-competition undertaking from GN Holdings[200]. Shareholder Information - The Directors recommended a final dividend of HK4 cents per share, totaling HK7 cents per share for the financial year[50]. - The number of issued shares remained at 2,500,000,000 shares as of March 31, 2019[42]. - The Company has adopted a dividend policy to maintain adequate cash reserves for future growth, with final dividends subject to shareholders' approval[157]. Compliance and Reporting - The Company published its annual and interim results within three months and two months, respectively, after the end of the relevant period, ensuring timely financial information for stakeholders[191]. - The Directors confirmed that there were no material uncertainties affecting the Company's ability to continue as a going concern as of March 31, 2019[191]. - The Company adopted HKFRSs, which conform to International Reporting Standards in all material respects for the financial year ended March 31, 2019[191]. - The Audit Committee reviewed the Company's compliance with relevant disclosures and the effectiveness of internal controls during the year[189].