Economic Environment - The economies of the PRC and Hong Kong are still recovering from the pandemic, with the global economic environment remaining challenging and uncertain[16]. - The global economic environment in 2024 is expected to remain challenging, influenced by geopolitical issues and the ongoing recovery from the pandemic in the PRC and Hong Kong[186]. Business Performance - The Group's revenue decreased by approximately 29.9% to approximately HK$68.1 million for the year ended 31 March 2024, down from HK$97.2 million in 2023[65]. - Revenue from the Wine Business fell by approximately 45.1% to approximately HK$21.9 million, compared to HK$39.9 million in the previous year[70]. - The Loan Financing Business recorded a revenue decrease of approximately 19.4%, amounting to approximately HK$46.2 million, down from HK$57.3 million in 2023[71]. - The Group's loss for the year was approximately HK$17.8 million, an increase of approximately HK$16.4 million compared to a loss of HK$1.4 million in 2023[66]. - The Group's revenue from the Wine Business and Loan Financing Business decreased by approximately HK$18.0 million and HK$11.1 million respectively compared to last year[170]. - The Group's business segments accounted for approximately 32.2% (Wine Business) and 67.8% (Loan Financing Business) of total revenue for the Year[169]. Financial Metrics - The Group's current ratio was approximately 1.3 times, a decrease from 1.4 times in 2023, while the gearing ratio increased to approximately 88.8% from 80.8%[146]. - The distributable reserves of the Company amounted to approximately HK$112.3 million, down from HK$124.1 million in 2023[194]. - The total net impairment loss recognized, including written-off loans, comprised approximately 10.4% of the total amount of loan receivables, up from 6.6% in 2023[101]. Loan Portfolio and Impairment - The size of the Group's loan portfolio decreased to approximately HK$287.2 million from HK$303.5 million in the previous year[72]. - As of 31 March 2024, approximately 31.6% of the loan portfolio was secured by collaterals, down from 42.9% in 2023[78]. - The average loan portfolio decreased from HK$374.9 million in the previous year to HK$295.4 million for the year[72]. - The impairment allowance for loan and interest receivables was approximately HK$29.8 million, an increase from HK$19.9 million in 2023[82]. - The increase in impairment was attributed to economic recovery in the PRC falling short of expectations and a debt crisis among real estate developers, impacting borrowers' repayment abilities[96]. - The Group's loan default rate has risen, leading to a higher historical loss rate and an increase in the impairment allowance[97]. Management and Strategy - The Group aims to optimize its business portfolio and find new directions for potential business collaboration to reduce impacts and create more value for shareholders[16]. - The Group believes in enhancing its fundamental business through diversification, which could lead to additional income streams and long-term increases in shareholder value[17]. - The company expresses confidence in continuing efforts to drive business development and deliver greater returns to shareholders[20]. - The Group plans to enhance its businesses by reviewing its existing portfolio and tightening cost control measures[186]. - The Group will proactively seek investment opportunities to diversify its business portfolio and broaden income sources[186]. Corporate Governance - The Board expresses gratitude to management and staff for their contributions and to shareholders for their continuous support[18]. - Mr. Chu has been an independent non-executive director since September 21, 2015, and is the chairman of the Audit Committee[45]. - Dr. Lau has over 19 years of post-qualification legal experience and has been an independent non-executive director since June 4, 2019[49]. - Mr. Zhou, appointed as an independent non-executive director on August 9, 2022, has a background in software engineering and entrepreneurship, including serving as CEO of a company with over 5,000 software engineers[52]. - The Company has complied with all applicable laws and regulations in the PRC and Hong Kong during the Year[185]. Environmental Commitment - The Group does not produce material waste or emit significant air pollutants, reflecting its commitment to environmental protection[179].

Financial Performance - Total revenue for the year ended March 31, 2024, was HKD 68,087,000, a decrease of 30% from HKD 97,174,000 in 2023[5] - The net loss for the year was HKD 17,790,000, compared to a loss of HKD 1,427,000 in 2023, representing a significant increase in losses[20] - Total revenue for the year was HKD 33,152,000, a decrease of 39.1% from HKD 54,437,000 in 2023[90] - The total loss before tax increased to HKD 19,762,000 in 2024 from a profit of HKD 9,487,000 in 2023[96] - The group reported a total loss of HKD 6,232,000 across all segments in 2024 compared to a profit of HKD 13,471,000 in 2023[96] - The group reported a loss of HKD 16,217 thousand for 2024, compared to a loss of HKD 2,211 thousand in 2023, indicating a significant increase in losses[128] - The group reported a loss of approximately HKD 17,800,000 for the year, an increase of about 11.7 times compared to a loss of HKD 1,400,000 in 2023, driven by increased impairment losses and reduced gross profit[176] Revenue Breakdown - Alcoholic beverage sales contributed HKD 21,921,000, down 45% from HKD 39,896,000 in the previous year[9] - Loan financing services generated HKD 46,166,000, a decline of 19% compared to HKD 57,278,000 in 2023[9] - The group experienced a revenue decrease of approximately HKD 18 million in the wine business and HKD 11.1 million in the loan financing business compared to last year, with no revenue generated from financial services[76] - Total revenue for the loan financing segment decreased from HKD 57,278,000 in 2023 to HKD 46,166,000 in 2024, representing a decline of approximately 19.4%[96] - Total revenue for alcoholic beverage sales dropped from HKD 39,896,000 in 2023 to HKD 21,921,000 in 2024, a decrease of about 45.0%[96] - The wine business generated revenue of approximately HKD 21,900,000, representing a decrease of about 45.1% compared to HKD 39,900,000 in 2023[155] Assets and Liabilities - Total assets less current liabilities amounted to HKD 115,344,000, down from HKD 155,538,000 in 2023[24] - The total assets of the group decreased from HKD 432,278,000 in 2023 to HKD 350,808,000 in 2024, a reduction of about 18.8%[107] - The total liabilities decreased from HKD 282,705,000 in 2023 to HKD 237,524,000 in 2024, a decline of approximately 16.0%[104] - The group has no outstanding liabilities as of March 31, 2024 (2023: none)[50] Equity and Financial Ratios - The total equity attributable to owners of the company was HKD (38,875,000), compared to HKD (12,418,000) in 2023, indicating a decline in equity[24] - The current ratio as of March 31, 2024, was approximately 1.3 times, down from 1.4 times in 2023[36] - The leverage ratio was approximately 88.8%, an increase from 80.8% in the previous year[36] Impairment and Financing Costs - The impairment of receivables was approximately HKD 29,800,000, an increase from HKD 19,900,000 in 2023[33] - The financing costs decreased from HKD 20,569,000 in 2023 to HKD 13,481,000 in 2024, a reduction of approximately 34.3%[96] - The impairment loss on loans and interest recognized amounted to HKD 29,775,000 in 2024[105] Operational Strategies and Challenges - The economic environment for 2024 is expected to be challenging with uncertainties due to geopolitical issues, and the group will review its business portfolio and tighten cost control measures[55] - The group aims to diversify its revenue sources by actively seeking investment opportunities in other areas[55] - The company is implementing multiple strategies to enhance cash flow, including managing the receivables portfolio[84] - Major risks include inventory obsolescence in the wine business and potential litigation risks in the financial services sector[78] Employee and Corporate Governance - The group employed 113 staff as of March 31, 2024, down from 120 in 2023, and offers competitive compensation packages[60] - The company has complied with the corporate governance code throughout the year[79] Other Financial Information - The group did not recommend the payment of a final dividend for the year (2023: none)[43] - The group has established a system to closely monitor the recoverability of its loan portfolio, including regular assessments of collateral value and communication with borrowers regarding their financial status[173] - The group has not implemented any foreign currency hedging policies but monitors foreign exchange risks and will consider hedging significant risks as necessary[178] - The audit committee has reviewed the audited consolidated financial statements for the year and confirmed compliance with applicable accounting standards and GEM listing rules[190] - There are no significant events related to the company's business or financial performance that have come to the attention of the directors after the reporting period[195]

Interim Report Compliance and Structure - The interim report is prepared in compliance with the GEM Listing Rules of the Stock Exchange of Hong Kong, with the Directors accepting full responsibility for its accuracy and completeness[5] - The interim report includes condensed consolidated financial statements, management discussion and analysis, and corporate governance information[9] - The interim financial statements were reviewed by the Company's audit committee but not audited by the independent auditor[45][48] Company Information - The company's principal place of business in Hong Kong is located at Units 26-28, 8/F, One Island South, 2 Heung Yip Road, Wong Chuk Hang[14] - The company's principal bankers are The Hongkong and Shanghai Banking Corporation Limited and China Construction Bank (Asia) Corporation Limited[15] - The company's stock code on the Stock Exchange of Hong Kong is 08057[15] - The company's website is www.madison-group.com.hk[15] - The company's registered office is located in the Cayman Islands[14] - The company's authorized representatives are Ms. Kuo Kwan and Ms. Chan Yuet Kwai[14] - The company's auditor is Prism Hong Kong and Shanghai Limited, Certified Public Accountants[14] Financial Performance - Revenue for the six months ended 30 September 2023 was HK$34.68 million, a decrease of 32% compared to HK$51.02 million in the same period in 2022[17] - Net profit for the six months ended 30 September 2023 was HK$1.91 million, a significant decline from HK$24.29 million in the same period in 2022[19] - Loan financing services revenue for the six months ended 30 September 2023 was HK$22.06 million, down 25% from HK$29.37 million in the same period in 2022[17] - Alcoholic beverages sales revenue for the six months ended 30 September 2023 was HK$12.62 million, a decrease of 42% compared to HK$21.65 million in the same period in 2022[17] - Total comprehensive expense for the six months ended 30 September 2023 was HK$18.37 million, compared to HK$18.89 million in the same period in 2022[19] - Basic loss per share for the six months ended 30 September 2023 was HK$0.22, compared to earnings per share of HK$2.23 in the same period in 2022[19] - Profit for the period was HK$-1.4 million, contributing to a total comprehensive expense of HK$-12.6 million for the six months ended 30 September 2023[24] - Exchange differences arising from translation of foreign operations resulted in a loss of HK$11.2 million for the six months ended 30 September 2023[24] - Revenue for the three months ended 30 September 2023 was HK$15.452 million, a decrease from HK$24.676 million in the same period in 2022[61] - Total segment loss for the three months ended 30 September 2023 was HK$990 thousand, compared to a segment profit of HK$9.865 million in the same period in 2022[61] - Loan financing services generated HK$11.174 million in revenue for the three months ended 30 September 2023, down from HK$13.430 million in 2022[61] - Sales of alcoholic beverages revenue for the three months ended 30 September 2023 was HK$4.278 million, a significant decrease from HK$11.246 million in 2022[61] - Revenue from the PRC for the three months ended 30 September 2023 was HK$9.541 million, down from HK$13.430 million in 2022[73] - Hong Kong revenue for the three months ended 30 September 2023 was HK$5.911 million, compared to HK$11.246 million in 2022[73] - Net loss attributable to the owners of the Company for the three months ended 30 September 2023 was HK$3,505,000, compared to a profit of HK$6,178,000 in the same period in 2022[93] Financial Position - Bank balances and cash decreased to HK$37.85 million as of 30 September 2023 from HK$72.91 million as of 31 March 2023[20] - Loan and interest receivables stood at HK$255.82 million as of 30 September 2023, slightly down from HK$257.40 million as of 31 March 2023[20] - Total current liabilities decreased to HK$254.16 million as of 30 September 2023 from HK$276.74 million as of 31 March 2023[20] - Non-current assets decreased to HK$44.60 million as of 30 September 2023 from HK$58.24 million as of 31 March 2023[20] - Net current assets decreased from HK$97.3 million to HK$89.7 million as of 30 September 2023[22] - Total assets less current liabilities declined from HK$155.5 million to HK$134.3 million as of 30 September 2023[22] - Equity attributable to owners of the company decreased from HK$-12.4 million to HK$-25.0 million as of 30 September 2023[22] - Non-controlling interests decreased from HK$162.0 million to HK$156.2 million as of 30 September 2023[22] - Total segment assets as of 30 September 2023 were HK$328.971 million, a decrease from HK$336.914 million as of 31 March 2023[67] - Total segment liabilities as of 30 September 2023 were HK$26.977 million, a decrease from HK$34.727 million as of 31 March 2023[70] - Non-current assets in Hong Kong as of 30 September 2023 were HK$15.438 million, down from HK$17.920 million as of 31 March 2023[74] - Non-current assets in the PRC as of 30 September 2023 were HK$712 thousand, a decrease from HK$1.378 million as of 31 March 2023[74] - Trade receivables increased to HK$2,074,000 as of 30 September 2023, up from HK$1,862,000 as of 31 March 2023[108] - Net trade receivables rose to HK$1,601,000 as of 30 September 2023, compared to HK$1,389,000 as of 31 March 2023[108] - Total other receivables and deposits grew to HK$33,804,000 as of 30 September 2023, up from HK$28,556,000 as of 31 March 2023[108] - Trade and other receivables and deposits increased to HK$35,405,000 as of 30 September 2023, compared to HK$29,945,000 as of 31 March 2023[108] - The Group's right-of-use assets decreased to HK$5,007,000 as of 30 September 2023, down from HK$7,932,000 as of 31 March 2023[116] - Lease liabilities reduced to HK$10,292,000 as of 30 September 2023, compared to HK$15,055,000 as of 31 March 2023[122] - The Group recognized finance lease receivables of approximately HK$1,270,000 during the six months ended 30 September 2023[117] - The Group did not enter into new lease agreements during the six months ended 30 September 2023, resulting in no new lease liabilities being recognized[123] - The carrying amount of lease liabilities was HK$10,292,000 as of 30 September 2023, down from HK$15,055,000 as of 31 March 2023[124] - Net investment in the lease decreased from HK$10,654,000 as of March 31, 2023, to HK$7,382,000 as of September 30, 2023, reflecting a reduction in lease receivables[128] - The Group's sublease arrangements for office space have an average effective interest rate of 9.21% per annum, unchanged from March 31, 2023[131] - Trade payables increased from HK$3,831,000 as of March 31, 2023, to HK$5,203,000 as of September 30, 2023, indicating higher outstanding payments[138] - The Group's loan from a non-controlling shareholder decreased from HK$80,838,000 as of March 31, 2023, to HK$77,100,000 as of September 30, 2023, with a fixed interest rate of 2% per annum[142] - Other borrowings as of 30 September 2023 amounted to HK$39,992,000, with a fixed interest rate of 12.0% per annum, repayable within one year[154][156][157] - The company's issued and fully paid ordinary shares as of 30 September 2023 totaled 623,127,227 shares, with a share capital of HK$6,231,000[161] - Interest expenses on the loan from SRA Holdings amounted to HK$6,625,000 for the six months ended 30 September 2023[164] - The Group's secured loans amounted to HK$74,758,000 as of 30 September 2023, a decrease from HK$90,207,000 as of 31 March 2023[97] - Unsecured loans as of 30 September 2023 totaled HK$189,215,000, up from HK$180,465,000 as of 31 March 2023[97] - The Group held collaterals valued at approximately HK$238,926,000 as of 30 September 2023, down from HK$291,216,000 as of 31 March 2023[102] - Loans secured by real estate in the PRC amounted to HK$72,319,000 as of 30 September 2023, a decrease from HK$86,458,000 as of 31 March 2023[101] - Loans secured by motor vehicles totaled HK$2,438,000 as of 30 September 2023, down from HK$3,749,000 as of 31 March 2023[101] - Loans guaranteed by guarantors (including related parties) amounted to HK$68,458,000 as of 30 September 2023, compared to HK$76,760,000 as of 31 March 2023[101] - Net loans and interest receivables within 90 days as of 30 September 2023 were HK$101,700,000, up from HK$44,007,000 as of 31 March 2023[106] - Net loans and interest receivables over 365 days as of 30 September 2023 were HK$126,812,000, down from HK$137,524,000 as of 31 March 2023[106] Cash Flow - The Group's net cash used in operating activities was HK$27.4 million for the six months ended 30 September 2023, compared to HK$7.7 million in the same period of 2022[31] - Net cash from investing activities decreased to HK$4.7 million for the six months ended 30 September 2023, down from HK$6.0 million in the same period of 2022[31] - Net cash used in financing activities increased to HK$7.7 million for the six months ended 30 September 2023, compared to HK$6.9 million in the same period of 2022[31] - The Group's cash and cash equivalents decreased by HK$30.5 million to HK$37.9 million as of 30 September 2023, compared to HK$45.4 million as of 30 September 2022[31] Shareholder and Share Option Information - Royal Spectrum Holding Company Limited directly holds approximately 31.44% of the Company's issued share capital as of 30 September 2023[33] - Mr. Ting Pang Wan Raymond holds approximately 41.55% of the Company's issued share capital as of 30 September 2023 and controls Royal Spectrum[33] - The company granted 18,100,000 share options on 17 December 2015, with an exercise price of HK$8.00 per share[170][173] - After a share subdivision on 8 November 2016, the number of shares to be issued increased to 181,000,000 with an adjusted exercise price of HK$0.80 per share[173] - On 3 April 2018, the company granted 219,000,000 share options with an exercise price of HK$1.89 per share[176] - On 17 August 2018, the company refreshed the scheme mandate limit, allowing the issuance of up to 428,330,871 shares, representing 10.0% of the then issued shares[177] - On 13 December 2018, the company granted 48,000,000 share options with an exercise price of HK$1.12 per share[178] - On 6 December 2019, the company granted 355,400,000 share options with an exercise price of HK$0.207 per share[179] - On 31 July 2020, the company refreshed the scheme mandate limit again, allowing the issuance of up to 519,272,689 shares, representing 10.0% of the then issued shares[182] - The company adjusted the exercise price and number of shares for outstanding share options following the share consolidation effective on 20 January 2022, with details provided in the announcement dated 18 January 2022[184][185][186] - On 9 August 2022, shareholders approved a refresh of the share option scheme mandate, allowing the issuance of up to 62,312,722 shares, representing 10.0% of the total issued shares at that time[187] - On 23 August 2022, the company granted 85,922,330 option shares to SRA Holdings at an exercise price of HK$1.03 per share, which expired on 30 September 2023 without any options being exercised[188][189] - As of 30 September 2023, 50,370,000 share options remained outstanding under the Share Option Scheme, representing 8.1% of the total issued shares, unchanged from 31 March 2023[189] - The 85,922,330 option shares granted under the Specific Mandate expired on 30 September 2023, reducing the outstanding options from 13.8% to 0% of the total issued shares[189] - No share-based payment expenses were recognized for the six months ended 30 September 2023 and 2022 related to the share options granted by the company[192] - Shareholders held 2,100,000 outstanding share options as of 30 September 2023, with an exercise price of HK$8.00 per share[194] - Consultants held 16,000,000 outstanding share options as of 30 September 2023, with an exercise price of HK$8.00 per share[194] - Directors held 560,000 outstanding share options as of 30 September 2023, with an exercise price of HK$18.90 per share[194] - Employees held 570,000 outstanding share options as of 30 September 2023, with an exercise price of HK$18.90 per share[194] - Directors were granted 750,000 share options on 6 December 2019, with an exercise price of HK$2.07 per share, and all options remain outstanding as of 30 September 2023[197] - Consultants were granted 2,595,000 share options on 6 December 2019, with an exercise price of HK$2.07 per share, and all options remain outstanding as of 30 September 2023[197] - Employees were granted 625,000 share options on 6 December 2019, with an exercise price of HK$2.07 per share, and 600,000 options remain outstanding as of 30 September 2023[197] - The ultimate holding company of a non-controlling shareholder was granted 85,922,330 share options on 23 August 2022, with an exercise price of HK$1.03 per share, and all options remain outstanding as of 30 September 2023[197] Business Segments and Operations - The Group's major operating subsidiaries are engaged in alcoholic beverage sales, loan financing services, and financial services[34] - The Group's reportable segments include sales of alcoholic beverages, loan financing services, and financial services[58] - Revenue from alcoholic beverage sales decreased to HK$12.62 million for the six months ended 30 September 2023, compared to HK$21.65 million in the same period in 2022[51] - Loan referral services income decreased to HK$5.29 million for the six months ended 30 September 2023, compared to HK$6.55 million in the same period in 2022[51] - Interest income from micro loans decreased to HK$13.52 million for the six months ended 30 September 2023, compared to HK$18.49 million in the same period in 2022[51] - Total revenue decreased to HK$34.68 million for the six months ended 30 September 2023, compared to HK$51.02 million in the same period in 2022[51] - Revenue recognized at a point in time decreased to HK$17.91 million for the six months ended 30 September 2023, compared to HK$28.21 million in the same period in 2022[54] Regulatory and Compliance - The statutory reserve transfer requirement in the PRC mandates at least 10.0% of statutory annual profits after tax to be transferred until the reserve reaches 50.0% of registered capital[27] - The application of new and amended Hong Kong Financial Reporting Standards had no material impact on the Group's financial performance and positions[44][46] Miscellaneous - Approximately HK$76.2 million was capitalized as the share capital of Bartha International Limited, with HK$33.4 million and HK$42.9 million recognized in merger reserves and non-controlling interests respectively[29] - The companies listed on GEM are generally small and mid-sized, which may result in higher market volatility and lower liquidity compared to the Main Board[3] - No dividend was paid, declared, or proposed for the six months ended 30 September 2023[89] - For the six months ended 30 September 2023, the Company acquired plant and equipment worth approximately HK$91,000, compared to HK$

Madison Holdings Group Limite d 麥 迪 森 控 股 集 團 有 限 公司 （於開曼群島註冊成立的有限公司） 08057 （股份代號： ） 2023 9 30 6 截至 年 月 日止 個月之中期業績公告 GEM 香港聯合交易所有限公司（「聯交所」） 的特色 GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所主板上市 的公司帶有較高投資風險。有意投資者應了解投資於該等公司的潛在風險，並應經過審慎周 詳的考慮後方可作出投資決定。 GEM GEM 由於 上市公司普遍為中小型公司，在 買賣的證券可能會較於主板買賣之證券承受 GEM 較大的市場波動風險，同時無法保證在 買賣的證券會有高流通量的市場。 香港交易所及結算有限公司及聯交所對本中期公告之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示概不就因本中期公告全部或任何部分內容而產生或因依賴該等 內容而引致之任何損失承擔任何責任。 GEM GEM 本公告乃遵照聯交所 證券上市規則（「 上市規則」）而刊載，旨在提供有關麥迪森控股 集團有限公司（「本公司」）的資料，本公司的董事（「董事」）願就此共同及個 ...

Financial Performance - Revenue for the three months ended June 30, 2023, was HK$19,225,000, a decrease of 27% compared to HK$26,348,000 in the same period of 2022[17]. - Sales of alcoholic beverages contributed HK$8,342,000, down from HK$10,407,000, representing a decline of 20% year-over-year[17]. - Loan financing services revenue decreased by 32% to HK$10,883,000 from HK$15,941,000 in the previous year[17]. - Profit before tax for the period was HK$6,218,000, a decrease of 63% compared to HK$16,918,000 in the same period last year[17]. - Profit for the period was HK$4,327,000, down 68% from HK$13,588,000 in the prior year[17]. - Other income for the quarter was HK$9,223,000, a decrease of 45% from HK$16,620,000 in the same period of 2022[17]. - Total comprehensive expense for the period was HK$14,416,000, significantly higher than HK$6,794,000 in the prior year, indicating an increase of approximately 112.0%[19]. - Profit for the period attributable to owners of the Company decreased to HK$2,139,000 for the three months ended June 30, 2023, compared to HK$7,706,000 in the same period of 2022, representing a decline of approximately 72.3%[19]. - Total segment profit for the period was HK$5,153,000, down 36% from HK$8,096,000 in the previous year[46]. - The Group's profit for the Period was approximately HK$4.3 million, representing a decrease of approximately 68.4% from HK$13.6 million in the same period last year[107]. Revenue Breakdown - Revenue from the sale of alcoholic beverages was HK$8,342,000, down 20% from HK$10,407,000 in the previous year[36]. - Loan referral services income decreased to HK$2,591,000 from HK$4,130,000, representing a decline of 37%[36]. - Interest income from micro loans was HK$6,676,000, down 29% from HK$9,419,000 in the prior year[36]. - Interest income from other loans decreased to HK$1,616,000 from HK$2,392,000, a drop of 32%[36]. - The Group's revenue from contracts with customers totaled HK$10,933,000, a decrease of 25% compared to HK$14,537,000 in the same quarter of 2022[39]. - Revenue from the Wine Business decreased by approximately 20.2% to approximately HK$8.3 million, down from HK$10.4 million in the previous year[106]. - Revenue from the Loan Financing Business decreased by approximately 31.4% to approximately HK$10.9 million, compared to HK$15.9 million in the prior year[106]. Cost Management - Staff costs were reduced to HK$7,546,000, down from HK$8,494,000, reflecting a decrease of 11%[17]. - Finance costs decreased to HK$4,725,000 from HK$6,705,000, a reduction of 30%[17]. - Administrative and other operating expenses were approximately HK$2.1 million, a decrease of approximately 12.5% or HK$0.3 million from HK$2.4 million in 2022[117]. - Finance costs for the Period amounted to approximately HK$4.7 million, down from HK$6.7 million in 2022, mainly due to the expiration of certain debts[118]. Share Options and Equity - The Company has adopted a share option scheme to incentivize and retain high-caliber employees, with a total of 18,100,000 share options granted on December 17, 2015[70]. - As of June 30, 2023, the number of outstanding share options under the Share Option Scheme was 50,620,000, representing approximately 8.1% of the total shares issued[90]. - The maximum number of ordinary shares that can be allotted and issued under the refreshed scheme mandate limit as of July 31, 2020, is 519,272,689 shares, representing 10.0% of the total issued shares at that time[83]. - The total number of share options granted and outstanding as of June 30, 2023, remained unchanged at 85,922,330 under the Specific Mandate[90]. - The exercise price for share options granted on December 17, 2015, was adjusted to HK$8.00 per share after the share consolidation[86]. - The total outstanding share options as of June 30, 2023, were 136,542,330, with a weighted average exercise price of HK$5.0[102]. Market Conditions - The investment atmosphere was described as pessimistic, reflected by a drop in the Hang Seng Index of approximately 3,000 points compared to the previous year[106]. - The Group's financial performance was impacted by external market conditions affecting demand for premium wines[106]. - The Board anticipates that additional time is needed for the Group's operations to get back on track due to the economic situation in Hong Kong and the PRC[126]. Corporate Governance and Shareholding - The company is committed to corporate governance and transparency regarding shareholding interests[145]. - The company continues to monitor and comply with the Securities and Futures Ordinance regarding shareholding disclosures[148]. - The total number of shares held by substantial shareholders indicates a strong concentration of ownership within the company[149][151]. - The data reflects a diverse range of substantial shareholders, indicating potential stability and varied interests in the company's performance[149][151].

Madison Holdings Group Limite d 麥 迪 森 控 股 集 團 有 限 公司 （於開曼群島註冊成立的有限公司） 08057 （股份代號： ） 2023 6 30 截至 年 月 日止三個月之 第一季度業績公告 GEM 香港聯合交易所有限公司（「聯交所」） 的特色 GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所主板上市 的公司帶有較高投資風險。有意投資者應了解投資於該等公司的潛在風險，並應經過審慎周 詳的考慮後方可作出投資決定。 GEM GEM 由於 上市公司普遍為中小型公司，在 買賣的證券可能會較於主板買賣之證券承受 GEM 較大的市場波動風險，同時無法保證在 買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公告之內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引 致之任何損失承擔任何責任。 GEM GEM 本公告乃遵照聯交所 證券上市規則（「 上市規則」）而刊載，旨在提供有關麥迪森控股 集團有限公司（「本公司」）的資料，本公司的董事（「董事」）願就此共同及個別地承 ...

Economic Environment and Business Outlook - The Group's wine and loan financing businesses are still under pressure due to COVID-19 variants and an uncertain economic environment[19] - The company anticipates gradual economic recovery in Hong Kong and mainland China post-COVID-19, although the wine and loan financing businesses remain under pressure due to ongoing threats from COVID-19 variants and an uncertain economic environment[22] - The Board anticipates gradual economic recovery in the PRC and Hong Kong in 2023, which is expected to benefit the Group's business operations[192] - The board anticipates a gradual economic recovery in China and Hong Kong in 2023, which will benefit the group's business development and operations[196] Business Strategy and Diversification - The Group aims to optimize its business portfolio and explore new collaborations to mitigate impacts and create shareholder value[19] - The company aims to optimize its business portfolio and explore new business directions and potential collaborations to mitigate impacts and enhance shareholder value[22] - The company believes that business diversification will enhance its fundamental business and provide additional income streams[20] - The company believes that business diversification will create synergies, consolidate existing core businesses, and provide additional revenue sources while reducing the impact of rising cost structures in a competitive environment[23] - The Group's management is focused on tightening cost control measures and seeking new investment opportunities to diversify its business portfolio[192] - The company aims to actively seek investment opportunities in other sectors to diversify its revenue sources[196] Financial Performance - The Group's revenue from continuing operations decreased by approximately 25.5% to approximately HK$97.2 million for the year ended 31 March 2023, down from HK$130.5 million in 2022[65] - Revenue from the Wine Business decreased by approximately 39.0% to approximately HK$39.9 million, while the Loan Financing Business revenue decreased by approximately 12.0% to approximately HK$57.3 million[65][71] - The Group's loss from continuing operations was approximately HK$1.4 million, representing a decrease of approximately 91.2% compared to a loss of HK$15.9 million in 2022[66] - The Group recorded a segment profit of approximately HK$19.9 million for the year, up from HK$4.0 million in 2022, after deducting impairment and operating costs[101] - The total net impairment loss recognized, including written-off loans, was approximately 6.6% of the total amount of loan receivables, down from 8.0% in 2022[101] - Other income from continuing operations increased to approximately HK$20.1 million, primarily due to gains from the disposal of a subsidiary and equipment[147] Loan Financing and Credit Management - The size of the Group's loan portfolio was significantly reduced to approximately HK$303.5 million, down from HK$446.3 million in 2022[72] - As of 31 March 2023, approximately 42.9% of the carrying amount of the loan portfolio was secured by collaterals, compared to 32.5% in 2022[77] - The Group aims to provide loans covered by sufficient collaterals, preferably properties and assets with good quality[72] - The Group's management has been prudent in granting new loans in light of the prevailing economic conditions in Hong Kong and PRC[72] - The impairment allowance for loan and interest receivables was approximately HK$19.9 million in 2023, a decrease from HK$35.6 million in 2022, including HK$10.9 million attributed to Expected Credit Loss (ECL) and HK$9.0 million written off[82] - The Group's credit monitoring measures include regular collateral reviews and communication with borrowers to assess their financial positions[81] - The Group continues to recover Stage 3 loans through established internal control and recovery procedures[95] Management and Board - The Board expresses gratitude to management and staff for their contributions and to shareholders for their support[21] - Mr. Ji has approximately 9 years of experience in the secured financing industry since participating in the establishment of Shanghai Yintong in 2003[39] - Mr. Chu served as an executive director responsible for investor relations and financial management at Chinese People Holdings Company Limited from December 2008 to September 2020[41] - Dr. Lau has over 18 years of post-qualification legal experience and has been a solicitor at Cheung & Co. since July 2017[49] - Mr. Zhou worked at Microsoft Corporation as a software engineer and technical director from 1991 to 2000 before becoming an entrepreneur in the IT sector[52] - Mr. Zhou was the CEO of Shanghai Wicresoft Co. Ltd. from 2009 to 2014, a company with over 5,000 software engineers[52] Operational Metrics - The Group's loan default rate has increased, raising the historical loss rate and amplifying the valuation of the allowance for impairment[99] - The total amount of overdue loans was approximately HK$24.7 million, representing 8.1% of the overall loan portfolio, a decrease from 20.0% in 2022[86] - The average outstanding amount of Stage 3 loans was approximately HK$104,000, with a total outstanding amount of HK$24.7 million, representing 8.14% of the overall loan portfolio, down from 11.49% in 2022[93] - The Group's loan collection department reviews the risk level of each loan weekly and submits a report to the general manager at least monthly[132] - Legal actions may be initiated against borrowers for overdue payments, with formal reminders and legal demand letters issued for overdue accounts[135] Shareholder and Market Information - The Group had a total of 623,127,227 issued shares as of March 31, 2023[169] - The Group employed 120 employees as of March 31, 2023, a decrease from 124 employees in 2022[186] - No final dividend was recommended for the Year, consistent with 2022[167] - The Group has no significant investments, acquisitions, or disposals during the Year[174] - The Group has complied with all applicable laws and regulations in the PRC and Hong Kong during the Year[191] Environmental and Social Responsibility - The Group is committed to environmental protection and does not produce material waste or emit significant air pollutants[189]

Madison Holdings Group Limite d 麥 迪 森 控 股 集 團 有 限 公司 （於開曼群島註冊成立的有限公司） 08057 （股份代號： ） 2023 3 31 截至 年 月 日止年度之全年業績公告 GEM 香港聯合交易所有限公司（「聯交所」） 的特色 GEM 的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所主板上市 的公司帶有較高投資風險。有意投資者應了解投資於該等公司的潛在風險，並應經過審慎周 詳的考慮後方可作出投資決定。 GEM GEM 由於 上市公司普遍為中小型公司，在 買賣的證券可能會較於主板買賣之證券承受 GEM 較大的市場波動風險，同時無法保證在 買賣的證券會有高流通量的市場。 香港交易所及結算有限公司及聯交所對本公告之內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引 致之任何損失承擔任何責任。 GEM GEM 本公告乃遵照聯交所 證券上市規則（「 上市規則」）而刊載，旨在提供有關麥迪森控股 集團有限公司（「本公司」）的資料，本公司的董事（「董事」）願就此共同及個別地承擔全部責 ...

Financial Performance - The Group recorded revenue from continuing operations of approximately HK$70.4 million for the nine months ended December 31, 2022, representing a decrease of approximately 31.5% compared to HK$102.7 million for the same period in 2021[17]. - For the nine months ended December 31, 2022, total revenue decreased to HK$70,419,000 from HK$102,653,000 in the same period of 2021, representing a decline of approximately 31.4%[18]. - Sales of alcoholic beverages for the nine months were HK$29,896,000, down from HK$54,484,000, a decrease of about 45%[18]. - Loan financing services revenue decreased to HK$40,523,000 from HK$48,169,000, reflecting a decline of approximately 15.4%[18]. - The company reported a loss attributable to owners of the Company from continuing operations of HK$2,534,000 for the nine months, compared to a loss of HK$19,319,000 in the same period last year[20]. - The Group's loss before tax for the nine months ended December 31, 2022, was HK$15,875,000, an improvement from a loss of HK$18,463,000 in the previous year[50]. - The total comprehensive expense for the period was HK$25,061,000, compared to HK$6,356,000 in the same period of 2021, indicating a deterioration in overall financial performance[21]. - The company reported a current tax expense of HK$1,479,000 for the nine months, compared to a tax credit of HK$69,000 in the previous year[62]. - The company recorded a loss for the period, with specific figures not disclosed in the provided content[65]. Profitability and Loss - Profit attributable to the owners of the Company from continuing operations for the nine months ended December 31, 2022, amounted to approximately HK$2.5 million, a significant improvement from a loss of HK$19.3 million for the same period in 2021[17]. - The net loss before tax for the nine months was HK$15,875,000, compared to a loss of HK$18,463,000 in the previous year, indicating an improvement[18]. - The basic loss per share for the nine months was HK$0.41, compared to a loss of HK$3.30 in the same period of 2021, indicating an improvement in earnings per share[20]. - The company experienced a net exchange loss of HK$12,019,000 for the nine months, compared to a gain of HK$2,675,000 in the previous year[18]. - The company reported a total comprehensive income attributable to non-controlling interests of HK$503,000 for the three months ended December 31, 2022[21]. - The company reported a loss of HK$20,593,000 for the period, with total accumulated losses reaching HK$860,259,000[23]. Revenue Breakdown - Revenue from the sale of alcoholic beverages for the nine months ended December 31, 2022, was HK$29,896,000, down 45.0% from HK$54,484,000 in the previous year[50]. - Revenue from loan referral services for the three months ended December 31, 2022, was HK$1,555,000, a decrease of 56.7% compared to HK$3,594,000 in the same period of 2021[41]. - Revenue from the PRC for the nine months was HK$34,471,000, down 15.2% from HK$40,608,000 in the previous year[55]. - Revenue from Hong Kong for the nine months was HK$35,948,000, a decline of 42.3% compared to HK$62,045,000 in 2021[55]. - The Group's total revenue from continuing operations decreased by approximately 31.5% to approximately HK$70.4 million from approximately HK$102.7 million in the previous year[134]. Expenses and Costs - Staff costs decreased slightly to HK$24,767,000 from HK$25,229,000, a reduction of about 1.8%[18]. - Administrative and other operating expenses decreased by approximately 44.1% to approximately HK$7.6 million from approximately HK$13.6 million in the previous year[143]. - Finance costs for the nine months decreased to HK$17,853,000 from HK$20,116,000, a reduction of 11.2%[60]. - The total depreciation of plant and equipment and right-of-use assets for the nine months ended December 31, 2022, was HK$3,952,000, down from HK$6,927,000 in the previous year, representing a decrease of 42.5%[79]. - The cost of inventories recognized as an expense for the nine months ended December 31, 2022, was HK$22,189,000, a decrease of 48.0% from HK$42,594,000 in the same period of 2021[69]. Share Options and Equity - The company has conditionally adopted a share option scheme to provide incentives to eligible persons for their contributions to the Group[92]. - A total of 85,922,330 share options were granted under the Specific Mandate at an exercise price of HK$1.03 per share during the nine months ended December 31, 2022[115]. - As of December 31, 2022, the number of outstanding share options under the Share Option Scheme was 50,800,000, representing approximately 8.2% of the total shares issued[112]. - The maximum number of shares that can be allotted and issued upon the exercise of share options was refreshed to 62,312,722 shares, which is 10.0% of the total issued shares as of the resolution date on August 9, 2022[110]. - The total number of share options granted and remained outstanding under the Specific Mandate was 85,922,330 shares, representing 13.8% of the total shares issued as of December 31, 2022[112]. Business Operations and Strategy - The company focuses on retail and wholesale of wine products and other alcoholic beverages, with a particular emphasis on red wine[26]. - The Group's primary business activities include retail and wholesale of wine products and other alcoholic beverages, loan financing, and financial services[129]. - The company aims to actively seek investment opportunities to broaden its income sources and diversify its business portfolio[158]. - The geographical revenue breakdown indicates a significant reliance on the Hong Kong and PRC markets, highlighting the need for market expansion strategies[54]. - The company anticipates a gradual recovery of the economies in the PRC and Hong Kong in 2023, which will benefit the development and operation of its businesses[158]. Corporate Governance - The Directors do not recommend the payment of any dividend for the nine months ended December 31, 2022, consistent with the previous year[17]. - No dividend was paid, declared, or proposed during the nine months ended December 31, 2022, consistent with the previous year[77]. - The company did not have any material acquisition or disposal of significant subsidiaries and affiliated companies during the Period[147]. - There were no arrangements enabling Directors or their close associates to acquire benefits through the acquisition of shares or debentures of the Company or any other body corporate during the period[199].

Financial Performance - The Group recorded revenue from continuing operations of approximately HK$51.0 million for the six months ended September 30, 2022, representing a decrease of approximately 24.8% compared to HK$67.8 million for the same period in 2021[25]. - For the six months ended September 30, 2022, the Group reported a profit attributable to the owners of approximately HK$13.9 million, a significant increase from a loss of HK$7.9 million in the same period of 2021[27][28]. - The profit before tax for the six months ended September 30, 2022, was approximately HK$31.2 million, compared to a loss of HK$6.9 million in the same period of 2021[31]. - The Group's earnings per share for the six months ended September 30, 2022, was HK$2.23, compared to a loss per share of HK$1.46 in the same period of 2021[33]. - Profit for the period increased to HK$24,287,000 for the six months ended September 30, 2022, compared to a loss of HK$6,886,000 in the same period last year[34]. - The total income tax expense for the six months ended September 30, 2022, was HK$6,883,000, compared to HK$3,288,000 for the same period in 2021, reflecting a significant increase[110]. Revenue Breakdown - The Group's revenue from continuing operations for the six months ended September 30, 2022, was approximately HK$21.7 million, compared to HK$29.4 million for the same period in 2021, reflecting a decrease of about 26.5%[31]. - Total revenue for the six months ended September 30, 2022, was HK$51,024,000, a decrease of 25% compared to HK$67,805,000 for the same period in 2021[84]. - Revenue from the sale of alcoholic beverages for the six months ended September 30, 2022, was HK$21,653,000, down 39% from HK$35,449,000 in the previous year[84]. - Loan financing services income for the six months ended September 30, 2022, was HK$6,554,000, a decline of 23% from HK$8,559,000 in the same period of 2021[84]. - The Group's total revenue from sales of alcoholic beverages and loan financing services for the six months ended September 30, 2022, was approximately HK$21.7 million, down from HK$29.4 million in the same period of 2021, indicating a decline of about 26.5%[31]. Operational Costs - The cost of operations for the six months ended September 30, 2022, was approximately HK$51.0 million, down from HK$67.8 million in the same period of 2021, representing a reduction of about 24.0%[31]. - The Group's financial costs for the six months ended September 30, 2022, were approximately HK$1.4 million, a decrease from HK$6.8 million in the same period of 2021[31]. - Total staff costs for the six months ended September 30, 2022, were HK$16,670,000, an increase of 3.0% from HK$16,176,000 in the same period of 2021[116]. Assets and Liabilities - Non-current assets decreased from HK$63,928,000 as of March 31, 2022, to HK$57,515,000 as of September 30, 2022[36]. - Current assets decreased from HK$554,594,000 as of March 31, 2022, to HK$408,563,000 as of September 30, 2022[36]. - Total liabilities decreased from HK$431,847,000 as of March 31, 2022, to HK$296,861,000 as of September 30, 2022[36]. - Trade and other payables decreased to HK$19,709,000 as of September 30, 2022, from HK$29,459,000 as of March 31, 2022[36]. - The company reported accumulated losses of HK$667,348,000, an increase from HK$856,335,000 as of April 1, 2022[45]. Cash Flow - For the six months ended September 30, 2022, net cash from operating activities was HK$ (7,653,000), a decrease from HK$ 32,230,000 in the same period of 2021[59]. - The net increase in cash and cash equivalents for the six months ended September 30, 2022, was HK$ (8,501,000), compared to an increase of HK$ 5,201,000 in the prior year[59]. - Cash and cash equivalents as of September 30, 2022, amounted to HK$ 45,381,000, down from HK$ 49,738,000 as of April 1, 2022[59]. Shareholder Information - The Group did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[29]. - The company's share capital remained at HK$6,231,000 and share premium at HK$1,311,985,000 as of September 30, 2022[45]. - As of September 30, 2022, Royal Spectrum Holding Company Limited held approximately 31.58% of the issued share capital of the company[63]. Discontinued Operations - The company incurred a loss of HK$1,346,000 from discontinued operations related to the blockchain services business[122]. - The total profit (loss) for the period from continuing operations was a loss of HK$1,274,000, compared to a loss of HK$1,346,000 for the same period in 2021[116]. Other Financial Metrics - The Group recognized equity-settled share-based payment expenses of HK$410,000 during the reporting period[45]. - The translation reserve showed a loss of HK$23,022,000 as of September 30, 2022, indicating foreign exchange impacts on the company's operations[45]. - The statutory reserve is required to be at least 10% of annual profits after tax, which may be used to offset accumulated losses[54].