Financial Performance - The group reported a diluted loss per share of HKD 0.56 for the year ended March 31, 2024, compared to HKD 0.25 in 2023, indicating an increase in losses[31]. - The company reported a total comprehensive loss of HKD 12,257,049 for the year ended March 31, 2023, compared to a loss of HKD 5,557,338 in the previous year, indicating a significant increase in losses[34]. - The company’s total comprehensive loss for the year ended March 31, 2024, is projected to be HKD 13,371,976, reflecting ongoing challenges in the market[34]. - The loss attributable to the company's owners for the year ending March 31, 2024, is approximately HKD 12,300,000, compared to HKD 5,600,000 for the year ending March 31, 2023[53]. - The company recorded a net loss attributable to shareholders of HKD 12,257,049 for the year ending March 31, 2024, compared to a loss of HKD 5,557,338 in 2023[127]. Revenue and Income - Revenue from commission and brokerage fees for securities trading on the Stock Exchange amounted to HKD 4,485,249, up from HKD 3,807,725 in the previous year, reflecting a growth of approximately 17.8%[49]. - The company generated total income of HKD 40,516,830, representing an increase from HKD 37,971,113 in the previous year, which is an increase of approximately 4.3%[49]. - The group's total revenue and investment income for the year amounted to approximately HKD 37,400,000, an increase of about 17.8% compared to HKD 31,700,000 for the year ending March 31, 2023[53]. - Commission income from placement and underwriting increased by approximately 143.8% from HKD 840,994 to HKD 2,050,753[174]. - Interest income from margin clients increased to HKD 13,791,831, a rise of 68.5% compared to HKD 8,204,639 in the prior year[49]. Assets and Liabilities - The group's total assets decreased to HKD 182,712,587 as of March 31, 2024, down from HKD 198,131,781 in 2023, representing a decline of approximately 7.4%[33]. - The group’s net assets decreased to HKD 181,678,837 as of March 31, 2024, down from HKD 195,365,266 in 2023, reflecting a decline of approximately 7%[33]. - The company’s total liabilities amounted to HKD 105,848,801 for the year ending March 31, 2024, compared to HKD 72,776,070 in the previous year[113]. - The group’s secured loans totaled HKD 70,980,572 as of March 31, 2024, down from HKD 95,769,725 in 2023, indicating a reduction of approximately 26%[14]. - The total amount of trade payables for securities trading decreased from HKD 64,015,324 to HKD 28,141,118[159]. Impairment and Credit Losses - The expected credit loss model resulted in impairment losses of HKD 881,977 for the year, an increase from HKD 618,935 in the previous year[23]. - The group recorded a goodwill impairment loss of HKD 30,526,810 in 2024, compared to HKD 17,577,504 in 2023[23]. - The expected credit loss on trade receivables for 2024 is HKD 3,852,949, compared to HKD 202,431 in 2023[73]. - The expected credit loss on loans receivable for 2024 is HKD 30,096,209, compared to HKD 33,849,805 in 2023[73]. - The total receivables impairment loss for the year was HKD 30,096,209, compared to HKD 33,849,805 in the previous year, indicating a decrease of approximately 8.2%[158]. Expenses - The group’s administrative expenses increased to HKD 17,540,267 in 2024 from HKD 16,217,755 in 2023, indicating a rise of about 8.1%[23]. - The pre-tax loss for the year was HKD 11,053,072, reflecting an increase in administrative expenses and financing costs[76]. - The company’s financing costs amounted to HKD 1,223,892, contributing to the overall financial strain[76]. - Administrative expenses for the year were approximately HKD 17,500,000, an increase of about 8.2% from HKD 16,200,000 in the previous year[197]. Market Conditions - The company continues to face high market volatility risks associated with trading on the GEM, which may affect liquidity and trading volume[52]. - The Hong Kong IPO market saw a total fundraising amount of approximately HKD 46.294 billion in 2023, a decline of about 57% compared to 2022[146]. - The Hang Seng Index dropped to 16,541 points as of March 31, 2024, down approximately 18.9% from 20,400 points a year earlier[146]. Client and Borrower Information - The number of clients increased to 29 in 2024, up from 24 in 2023, with personal clients rising from 15 to 18 and corporate clients from 9 to 11[151]. - The company had a significant customer contributing approximately 11.5% of total revenue for the year ending March 31, 2024, up from 10.6% in the previous year[119]. - The company had a total of 29 borrowers as of March 31, 2024, compared to 24 borrowers in the previous year[170]. - The maximum borrower accounted for approximately 36.8% of the total loan portfolio, an increase from 25.1% in the previous year[172].

Financial Performance - For the six months ended September 30, 2023, the company recorded an unaudited revenue of approximately HKD 19,400,000, a decrease of about 16.9% compared to the same period last year[4]. - The company reported an unaudited loss attributable to owners of approximately HKD 10,700,000 for the six months ended September 30, 2023, primarily due to expected credit loss impairment on receivables[4]. - Basic and diluted loss per share for the six months ended September 30, 2023, was approximately HKD 0.48, compared to a basic earnings per share of HKD 0.80 for the same period last year[4]. - The company experienced a loss of HKD 10,666,937 during the period, compared to a profit of HKD 17,559,307 in the same period last year[9]. - The company reported a net loss of HKD 10,666,937,000 for the six months ended September 30, 2023, compared to a net profit of HKD 17,559,307,000 for the same period in 2022[27]. - For the six months ended September 30, 2023, the total income from various sources was HKD 211,233,000, a decrease of 83.9% compared to HKD 1,314,983,000 for the same period in 2022[21]. Dividends and Equity - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2023, consistent with the previous year[4]. - The company did not declare any dividends during the period, maintaining a focus on cash preservation amid challenging market conditions[9]. - The company’s total equity attributable to owners decreased to HKD 183,735,552 as of September 30, 2023, down from HKD 201,078,197 a year earlier[9]. Assets and Liabilities - Total assets as of September 30, 2023, amounted to HKD 240,354,871, compared to HKD 248,588,536 as of March 31, 2023[6]. - Current liabilities decreased to HKD 98,378,414 as of September 30, 2023, from HKD 103,082,286 as of March 31, 2023[8]. - The company’s net asset value as of September 30, 2023, was HKD 183,735,552, down from HKD 195,365,266 as of March 31, 2023[8]. - Total liabilities as of September 30, 2023, were HKD 98,886,804,000, an increase from HKD 82,338,489,000 as of September 30, 2022[29]. Cash Flow - The company reported a net cash inflow from operating activities of HKD 18,738,101 for the six months ended September 30, 2023, compared to a cash outflow of HKD 37,459,774 in the same period last year[11]. - The company generated a net cash inflow from investing activities of HKD 7,226,063, compared to a cash outflow of HKD 5,862,834 in the previous year[11]. - The company’s financing activities resulted in a net cash outflow of HKD 15,739,093, contrasting with a net inflow of HKD 17,894,702 in the previous year[11]. Credit Loss and Impairment - The company reported a significant impairment loss of HKD 17,171,270 under the expected credit loss model for the six months ended September 30, 2023[5]. - The expected credit loss under the impairment model for loans receivable was HKD (17,208,270,000) for the six months ended September 30, 2023, with no such loss reported in the same period of 2022[22]. - The provision for expected credit losses on receivables increased to HKD 17,208,270 from HKD 33,849,805, indicating a reduction of 49.2%[54]. Revenue Sources - Total revenue from continuing operations for the six months ended September 30, 2023, was HKD 19,372,695, a decrease of 17.5% from HKD 23,300,745 in the previous year[19]. - The company reported a significant increase in interest income from cash and margin clients, totaling HKD 6,329,984 for the six months ended September 30, 2023, compared to HKD 3,808,645 in the previous year[19]. - The company’s commission and brokerage fees from securities trading on the exchange amounted to HKD 2,129,636 for the six months ended September 30, 2023, slightly up from HKD 2,049,741 in the previous year[19]. Operational Highlights - The company plans to continue expanding its client base and enhancing its trading platform to develop its brokerage and underwriting businesses[91]. - The company aims to become a leading financial services group in Hong Kong and will actively seek investment opportunities to enhance profitability[91]. - The company has established credit policies and continuously monitors credit risk to mitigate potential losses from receivables[92]. Corporate Governance - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM listing rules during the six months ending September 30, 2023[113]. - The company has adhered to all corporate governance code provisions as per GEM listing rules, with a noted deviation regarding the separation of roles between the chairman and CEO[114]. - The board is responsible for the overall internal control framework and acknowledges the necessity of risk management and internal control systems[119].

Financial Performance - For the three months ended June 30, 2023, the company recorded an unaudited revenue of approximately HKD 9,900,000, a decrease of about 13.9% compared to HKD 11,500,000 for the same period in 2022[4] - The unaudited profit attributable to owners of the company for the same period was approximately HKD 4,100,000, compared to HKD 3,900,000 in the previous year[4] - Basic and diluted earnings per share for the period were approximately HKD 0.19, up from HKD 0.18 for the same period in 2022[4] - The company reported a pre-tax profit of HKD 4,819,211, compared to HKD 5,167,037 in the prior year[5] - The total comprehensive income attributable to owners for the period was HKD 4,369,985, compared to HKD 3,275,228 in the same period last year[5] - The company's profit attributable to owners for the three months ended June 30, 2023, was HKD 4,083,982, compared to HKD 3,866,789 for the same period in 2022, reflecting an increase of approximately 5.6%[19] - The company recorded a profit attributable to owners of approximately HKD 4,100,000 for the three months ended June 30, 2023, compared to HKD 3,900,000 for the same period in 2022, representing an increase of about 5.13%[30] - Earnings per share for the three months ended June 30, 2023, was approximately HKD 0.19, up from HKD 0.18 for the same period in 2022, indicating a growth of 5.56%[30] Expenses and Losses - Administrative expenses increased to HKD 4,613,990 from HKD 3,904,613 year-on-year[5] - The net loss from financial assets measured at fair value through profit or loss was HKD 693,996, compared to a loss of HKD 6,700,068 in the previous year[5] - Total operating expenses increased by approximately 18.2% to HKD 4,600,000 from HKD 3,900,000 in the same period last year[29] - The company’s interest income from loans and financing activities was approximately HKD 4,100,000, down from HKD 7,400,000 in the same period last year[26] - The administrative expenses increased due to higher trading volumes, impacting costs related to central clearing system fees and commission payments[29] Revenue Sources - The total revenue and investment income for the three months ended June 30, 2023, was approximately HKD 9,800,000, an increase of about 6.1% or HKD 600,000 compared to approximately HKD 9,200,000 for the same period in 2022[23] - Commission and brokerage fees from securities trading amounted to approximately HKD 1,000,538, a decrease of about 20.5% from HKD 1,258,602 in the same period last year[13] - Interest income from cash and margin clients increased by approximately 75.1% to HKD 3,339,545 from HKD 1,907,413 year-on-year[24] - The total trading volume for securities transactions increased by approximately 8.0% to HKD 18,224,000,000 from HKD 16,878,600,000 year-on-year[24] Equity and Shareholder Information - The company’s total equity as of June 30, 2023, was HKD 199,612,709, a decrease from HKD 201,078,195 a year earlier[6] - Major shareholder Zillion Profit Limited holds 1,500,000,000 shares, representing 68.18% of the company's total issued share capital[46] - The total number of options granted but not exercised under the previous share option plan was 80,000,000 shares, all of which were canceled as of June 30, 2023[39] - As of June 30, 2023, the company has not granted any unexercised share options to directors, totaling 60,000,000 options that were not exercised during the period[44] Corporate Governance - The company has established an audit committee to review and supervise its financial reporting procedures and internal controls, consisting of three independent non-executive directors[56] - The company has complied with all corporate governance code provisions as per GEM Listing Rules, with a noted deviation regarding the separation of roles between the chairman and the CEO[52] - The company has not established a chairman position, with daily operations managed by the CEO and executive directors[53] - No competitive business interests were reported by directors or major shareholders that could conflict with the company's operations during the three months ending June 30, 2023[49] - The company has confirmed that all directors adhered to the prescribed trading rules during the three months ending June 30, 2023[51] - The company plans to elect a new chairman when appropriate[54] - The company has not disclosed any other individuals with significant interests in its shares or related securities as of June 30, 2023[47] Business Strategy and Outlook - The company continues to focus on its core business of providing securities, futures, and options brokerage services, as well as margin and loan financing services[9] - The group has no major investment or acquisition plans as of June 30, 2023, but will actively seek investment opportunities to enhance profitability[31] - The outlook suggests that the peak of the U.S. interest rate cycle is favorable for the development of the Hong Kong property and stock markets, despite global economic challenges expected in 2023[32] - The company aims to expand its client base and strengthen its trading platform to develop its brokerage and underwriting businesses[32] - The company is committed to exploring potential business opportunities to generate new revenue sources and further enhance profitability[34] - The company will continue to expand its margin and loan financing business as well as its securities advisory services to meet customer needs[32] Share Option Plan - The new share option plan allows for the grant of options up to a total of 220,000,000 shares, which is equivalent to 10% of the total shares in issue as of June 30, 2023[35] - The fair value of the options granted under the new share option plan was calculated to be HKD 8,275,000 based on various assumptions including a volatility of 55.019% and a risk-free rate of 2.106%[41] Dividend Policy - The board of directors did not recommend the payment of an interim dividend for the three months ended June 30, 2023, consistent with the previous year[4] - The company did not recommend the distribution of an interim dividend for the three months ended June 30, 2023[17] Securities Transactions - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ending June 30, 2023[48]

Financial Performance - For the fiscal year 2022 to 2023, the total revenue and investment income recorded by the company was approximately HKD 31,700,000, representing an increase of about 27.4% compared to the previous fiscal year[8]. - The loss attributable to the owners of the company for the fiscal year was approximately HKD 5,600,000, a decrease of about 30.6%[8]. - The total revenue and investment income for the year amounted to approximately HKD 31,700,000, an increase of about 27.4% or approximately HKD 6,800,000 compared to HKD 24,900,000 in 2022[12]. - Commission and brokerage fees from securities trading decreased by approximately 55.7% from HKD 8,600,000 in 2022 to HKD 3,800,000 in 2023[13]. - Interest income from margin clients increased by approximately 1.5% to HKD 8,200,000 from HKD 8,100,000 in the previous year[14]. - Interest income from loan financing services was approximately HKD 22,200,000, up from HKD 20,100,000 in 2022, representing an increase of about 10.5%[15]. - The total trading volume for securities decreased by approximately 51.3% from HKD 100,149,100,000 in 2022 to HKD 48,754,700,000 in 2023[13]. - Placement and underwriting commissions decreased by approximately 81.5% from HKD 4,500,000 in 2022 to HKD 800,000 in 2023[19]. Investment Portfolio - As of March 31, 2023, the value of the company's investment portfolio was approximately HKD 18,400,000, down from approximately HKD 23,400,000 in the previous fiscal year[8]. - As of March 31, 2023, the value of the investment portfolio, including listed securities, equity-linked notes, and debt instruments, was approximately HKD 18,400,000, a decrease of about 17.1% from HKD 22,300,000 in 2022[21]. - The expected credit loss on receivables was approximately HKD 33,900,000, compared to HKD 13,200,000 in the previous year[17]. - The expected credit loss on trade receivables and loans was approximately HKD 4,900,000 and HKD 10,600,000, respectively, compared to zero and HKD 4,500,000 in 2022[23]. Business Strategy and Growth - The company continues to diversify its revenue sources, including interest income and non-interest income, despite economic uncertainties[8]. - The company aims to expand its customer base and enhance its trading platform to drive business growth[8]. - The company plans to explore new business opportunities and expand its core business to provide optimal returns to shareholders[9]. - The company aims to expand its client base and enhance its trading platform to develop brokerage and underwriting businesses[40]. - The company is committed to expanding its margin and loan financing business as well as securities advisory services to meet customer needs[40]. - The company continues to explore potential business opportunities to generate new revenue streams and enhance profitability[40]. Economic Environment - The financial market faced significant volatility and uncertainty during the review period, influenced by geopolitical conflicts, inflation concerns, and the ongoing COVID-19 pandemic[11]. - The initial public offering market in Hong Kong was quiet during the fiscal year[11]. - The company anticipates that the global economy will face ongoing challenges in 2023 due to interest rate cycles and high inflation[40]. Corporate Governance - The board of directors is responsible for formulating the company's strategy and overseeing performance and risk management[44]. - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with GEM listing rules[45]. - The board has established three committees: audit, remuneration, and nomination to assist in overseeing management responsibilities[44]. - The company currently has no chairman, with daily operations managed by the CEO, ensuring balanced power and efficient decision-making[56]. - The company will arrange for the re-election of a new chairman at an appropriate time[57]. - All directors have received training on their responsibilities and relevant regulations to enhance governance practices[53]. - The board consists of experienced individuals who regularly discuss operational matters affecting the company[56]. - The company has established a clear division of responsibilities between the chairman and the CEO, as per governance codes[55]. - The audit committee held four meetings during the fiscal year ending March 31, 2023, with all members attending all meetings[63]. - The independent non-executive directors have confirmed that the ongoing connected transactions were conducted in the ordinary course of business and on normal commercial terms[184]. Environmental, Social, and Governance (ESG) - The company is committed to enhancing its ESG performance and data collection to address stakeholder concerns[79]. - The ESG report covers the fiscal year from April 1, 2022, to March 31, 2023, focusing on the company's core business in Hong Kong[80]. - The board has established an ESG organizational structure to oversee sustainability initiatives and risk management[82]. - The company emphasizes the importance of transparency and consistency in its ESG reporting principles[81]. - The company has implemented energy-saving measures, including setting air conditioning to 25.5 degrees Celsius and encouraging employees to turn off unused equipment[98]. - The company has established an ESG working group to manage ESG affairs and monitor key performance indicators[85]. - The company has identified three key ESG issues: employee welfare, occupational health and safety, and anti-corruption policies[87]. - The company has engaged third-party ESG professionals to assist in assessing the importance of ESG issues[86]. - The company has adopted multiple waste reduction measures, resulting in minimal overall waste generation[93]. - The company has complied with relevant laws and regulations regarding gas and greenhouse gas emissions, as well as waste management[94]. Employee and Workplace Policies - The overall employee turnover rate for the year was 7%, a significant decrease from 21.4% in the previous year, indicating a healthy turnover rate[114]. - The company recorded zero work-related injury cases over the past three years, resulting in no lost workdays[115]. - The company provides competitive compensation and benefits, including mandatory MPF contributions for eligible employees[114]. - The company has established a non-discrimination policy applicable to all employment activities, ensuring equal treatment of employees regardless of various personal characteristics[111]. - The company has implemented measures to protect personal data, ensuring that data is not inadvertently deleted or lost[126]. - The company has maintained compliance with laws and regulations related to advertising, labeling, and privacy, with no serious violations reported this year[128]. - The company has provided flexible work arrangements, including remote work and staggered hours, as needed[117]. - The company has encouraged employees to maintain good posture and proper visual levels while working to reduce physical stress and strain[25]. - The company aims to achieve 100% training coverage for anti-corruption training over a four-year period, starting with directors, management, and frontline sales personnel[120]. - The company provided 21.5 hours of training focused on operational and professional areas per employee, averaging over 1 hour of training per person this year, compared to 30 hours in the previous year[120]. Financial Position and Compliance - As of March 31, 2023, the group's cash and bank balances were approximately HKD 16,500,000, a decrease of about 58.1% from HKD 39,400,000 in 2022[25]. - The current ratio as of March 31, 2023, was approximately 2.4 times, down from 3.1 times in 2022[25]. - The debt-to-equity ratio at the end of the reporting period was 14.8%, compared to 9.9% in 2022[26]. - The group reported a total of 15 full-time employees, with a turnover rate of 7% for the year 2023, a significant decrease from 21.4% in 2022[134]. - The independent auditor has confirmed that the consolidated financial statements fairly represent the group's financial position as of March 31, 2023, in accordance with Hong Kong Financial Reporting Standards[193]. - The company has maintained the required public float as per GEM listing rules as of the report date[189]. - The independent auditor will be proposed for reappointment at the annual general meeting, ensuring continuity in audit oversight[190]. - The group has maintained compliance with relevant laws and regulations, with no legal actions taken against the group or its employees[132].

香港交易及結算所有限公司以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，並明確表示概不就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。 CL GROUP (HOLDINGS) LIMITED 昌 利 （ 控 股 ） 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：8098） 截至二零二三年三月三十一日止年度之全年業績公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM乃為較於聯交所上市的其他公司帶有更高投資風險的公司提供上市的市 場。有意投資者應了解投資於該等公司的潛在風險，並應經過審慎周詳考慮後 方作出投資決定。GEM的較高風險及其他特色表示GEM較適合專業及其他經 驗豐富的投資者。 由於GEM上市公司的新興性質使然，在GEM買賣的證券可能會承受較於主板 買賣的證券為高的市場波動風險，同時亦無法保證在GEM買賣的證券會有高 流通量的市場。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）之規定而提供有關 昌利（控股）有限公司（「本公司」）的資料。本公司各董事（「董事」）願就本公佈 共同及個別承擔全部責 ...

Financial Performance - For the nine months ended December 31, 2022, the company recorded unaudited revenue of approximately HKD 36,300,000, a decrease of about 10.8% compared to the same period last year[5]. - The unaudited profit attributable to owners for the nine months ended December 31, 2022, was approximately HKD 24,500,000, representing a decrease of about 46.6% year-on-year[5]. - Basic and diluted earnings per share for the nine months ended December 31, 2022, were approximately HKD 1.11, down from HKD 2.08 for the same period in 2021[5]. - For the three months ended December 31, 2022, the company reported revenue of HKD 13,018,408, compared to HKD 14,388,698 for the same period in 2021[6]. - The company experienced a net loss of HKD 1,196,865 from financial assets measured at fair value through profit or loss for the nine months ended December 31, 2022[6]. - The company reported a pre-tax profit of HKD 30,143,041 for the nine months ended December 31, 2022, compared to HKD 53,417,505 for the same period in 2021[6]. - Total comprehensive income attributable to owners for the nine months ended December 31, 2022, was HKD 24,568,730, down from HKD 40,688,716 in the previous year[6]. - The group's revenue for the nine months ended December 31, 2022, was approximately HKD 28,500,000, a decrease of about 62.5% or approximately HKD 47,400,000 compared to approximately HKD 75,900,000 in the same period of 2021[22]. - The group reported a net profit attributable to shareholders of HKD 24,450,811 for the nine months ended December 31, 2022, compared to HKD 45,814,072 for the same period in 2021, reflecting a decline of approximately 46.6%[19]. - The group recorded commission and brokerage fees from securities trading of HKD 2,863,025 for the nine months ended December 31, 2022, down from HKD 6,827,608 in the same period of 2021, representing a decrease of approximately 58.1%[13]. - Interest income from loan clients increased to HKD 24,638,905 for the nine months ended December 31, 2022, compared to HKD 16,284,064 in the same period of 2021, marking an increase of approximately 51.5%[13]. - The effective tax expense for the nine months ended December 31, 2022, was HKD 5,692,230, a decrease from HKD 7,603,433 in the same period of 2021[16]. - Total revenue for the nine months ending December 31, 2022, was approximately HKD 36,300,000, a decrease of about 10.8% from HKD 40,600,000 in the same period last year[29]. - Administrative expenses decreased by approximately 19.9% to HKD 11,900,000 from HKD 14,800,000 in the previous year[30]. - The company recorded a profit attributable to owners of approximately HKD 24,500,000, down about 46.6% from HKD 45,800,000 in the same period last year[30]. Dividends - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2022[5]. - The group did not recommend the payment of an interim dividend for the nine months ended December 31, 2022, compared to no dividend in the same period of 2021[17]. Share Options and Equity - The new share option plan allows for the grant of options up to 220,000,000 shares, representing 10% of the total shares as of December 31, 2022[34]. - As of December 31, 2022, the total number of stock options granted under the new stock option plan is 100,000,000, with 80,000,000 remaining unexercised[38]. - The fair value of the granted stock options on the grant date was HKD 8,275,000, calculated using the Black-Scholes model[39]. - The exercise price of the stock options is set at HKD 0.2275, which is approximately 55.3% lower than the stock price of HKD 0.410 on the grant date[39]. - Major shareholder Zillion Profit Limited holds 1,500,000,000 shares, representing 68.18% of the total issued share capital[44]. - The total number of stock options granted to directors as of December 31, 2022, is 60,000,000, which accounts for approximately 2.73% of the total issued shares[41]. - The expected volatility used in the option pricing model is 55.019%[39]. - The expected life of the stock options is 9 years, with a risk-free interest rate of 2.106%[39]. - The company has a dividend yield of 5.860% as part of the assumptions for the stock option valuation[39]. Corporate Governance - The company has adopted a code of conduct for directors' securities trading, ensuring compliance with GEM Listing Rules from December 31, 2022[49]. - The company has adhered to all corporate governance code provisions as per GEM Listing Rules Appendix 15 for the nine months ending December 31, 2022, with a noted deviation regarding the separation of roles between the Chairman and CEO[50]. - The company currently does not have a Chairman position, with daily operations managed by the CEO and executive directors, ensuring balanced power distribution[51]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the nine months ending December 31, 2022, confirming compliance with applicable accounting standards and regulations[54]. - The company plans to elect a new Chairman when appropriate circumstances arise[52]. Market Conditions - The Hang Seng Index recorded a decline of approximately 10.1%, closing at 19,781 points on December 31, 2022, compared to 21,996 points on March 31, 2022[21]. - Total trading volume for securities transactions was approximately HKD 42,239,300,000, down from HKD 75,212,600,000 in the same period last year, representing a significant decline[23]. - Securities and futures brokerage income decreased by approximately 56.6% from HKD 7,200,000 to HKD 3,100,000 for the nine months ending December 31, 2022[23]. - Interest income from customer securities and margin accounts decreased by about 9.2% to approximately HKD 6,000,000 compared to HKD 6,600,000 in the previous year[23]. - Interest income from loans and financing services increased to approximately HKD 24,600,000, up from HKD 16,300,000, marking a growth of about 51.4%[25]. Future Outlook - The company has no major investment or acquisition plans but will actively seek investment opportunities to enhance profitability[32]. - The management anticipates further improvement in the local economy in Q1 2023, aiming to expand margin and loan financing services as well as securities advisory services[33].

Financial Performance - The company recorded an unaudited revenue of approximately HKD 23,300,000 for the six months ended September 30, 2022, representing a decrease of about 11.3% compared to the same period last year[3]. - The profit attributable to the owners of the company for the six months ended September 30, 2022, was approximately HKD 17,600,000, primarily due to a reversal of impairment losses under the expected credit loss model[3]. - Basic and diluted earnings per share for the six months ended September 30, 2022, were approximately HKD 0.80, compared to HKD 0.62 for the same period last year[3]. - The company reported a net loss from fair value changes of financial assets at fair value through profit or loss of approximately HKD 10,468,374 for the six months ended September 30, 2022[5]. - The company’s total comprehensive income for the six months ended September 30, 2022, was HKD 16,955,155, compared to HKD 11,556,288 for the same period last year[5]. - The net profit for the period was HKD 17,559,307, down from HKD 13,696,151 in the previous year, indicating a decrease of about 22.5%[36]. - The total revenue from major customers accounted for approximately 21% of total revenue for the six months ended September 30, 2022, up from 9% in the previous year[45]. Dividends and Shareholder Returns - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2022, consistent with the previous year[3]. - The company did not declare an interim dividend for the six months ended September 30, 2022, consistent with the previous year[47]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to HKD 237,720,806, an increase from HKD 224,171,977 as of March 31, 2022[7]. - As of September 30, 2022, the total current liabilities amounted to HKD 79,691,935, an increase from HKD 72,567,168 as of March 31, 2022, representing a growth of approximately 9%[9]. - The total assets less current liabilities reached HKD 220,679,906 as of September 30, 2022, up from HKD 204,919,675 as of March 31, 2022, reflecting a growth of about 7.5%[9]. - The company's equity attributable to owners was HKD 218,033,352 as of September 30, 2022, an increase from HKD 201,078,195 as of March 31, 2022, representing a growth of approximately 8.4%[9]. - The total non-current liabilities decreased to HKD 2,646,554 from HKD 3,841,480, indicating a reduction of about 31%[9]. Cash Flow and Financing - The net cash used in operating activities for the six months ended September 30, 2022, was HKD (37,459,774), compared to HKD (7,096,952) for the same period in 2021, indicating a significant increase in cash outflow[18]. - The financing activities generated a net cash inflow of HKD 17,894,702 for the six months ended September 30, 2022, compared to a net cash outflow of HKD (562,428) in the same period of the previous year[18]. - The company reported a net cash outflow from investment activities of HKD (5,862,834) for the six months ended September 30, 2022, compared to HKD (8,728,872) in the same period of 2021, showing an improvement in cash flow management[18]. - The cash and cash equivalents at the beginning of the period were HKD 29,373,093, compared to HKD 11,001,700 at the beginning of the same period in 2021, indicating a significant increase in available cash[18]. Credit and Risk Management - The group has established a credit risk management policy to assess client credit ratings and repayment capabilities, ensuring limited credit risk due to a diverse client base[77]. - The group believes that the impairment provision for trade receivables is adequate based on the current credit quality and recoverability assessments[73]. - The management regularly reviews credit limits for each client, with any increase requiring approval based on established criteria[77]. - The group has established a credit policy to monitor credit risk, with a focus on timely settlement of receivables within T+2 days[123]. Corporate Governance - The company has established an audit committee to review and supervise financial reporting procedures and internal controls, consisting of three independent non-executive directors[152]. - The company is committed to high standards of corporate governance and has adhered to all applicable codes during the reporting period, with some deviations noted[146]. - The company has a risk management and internal control system in place, which is reviewed by the board to ensure the protection of shareholder interests[150]. Acquisitions and Investments - The group acquired 100% equity of Shenzhen Bifuda Business Consulting Co., Ltd. for a cash consideration of HKD 5,007,591 on September 26, 2022[85]. - The identifiable assets and liabilities acquired had a fair value of HKD 8,786,843, resulting in goodwill of HKD 1,084,232[86]. - The group did not recognize any revenue or loss from the newly acquired subsidiary from the acquisition date to September 30, 2022[86]. Market and Operational Insights - The group aims to expand its client base and enhance its trading platform to develop its brokerage and underwriting businesses[121]. - The group is committed to becoming a leading financial services group in Hong Kong and will continue to explore potential business opportunities to enhance profitability[121]. - The group currently has no foreign currency hedging policy but monitors foreign exchange risks and considers hedging when necessary[127].

Financial Performance - For the three months ended June 30, 2022, the company recorded an unaudited revenue of approximately HKD 11,500,000, representing an increase of about 1.3% compared to HKD 11,400,000 for the same period in 2021[3]. - The unaudited profit attributable to owners for the same period was approximately HKD 3,900,000, a decrease from HKD 12,300,000 in the previous year[3]. - Basic and diluted earnings per share for the three months ended June 30, 2022, were both approximately HKD 0.18, down from HKD 0.56 for the same period in 2021[3]. - The company reported a pre-tax profit of approximately HKD 5,167,037 for the period, compared to HKD 13,769,384 in the prior year[6]. - Total comprehensive income attributable to owners for the period was approximately HKD 3,275,228, down from HKD 12,314,691 in the previous year[6]. - The total revenue and investment income for the three months ended June 30, 2022, was approximately HKD 9,200,000, a decrease of about 49.4% or HKD 9,100,000 compared to approximately HKD 18,300,000 in the same period of 2021[27]. - The profit attributable to the company's owners for the three months ended June 30, 2022, was approximately HKD 3,900,000, down from approximately HKD 12,300,000 in the same period of 2021[34]. - Earnings per share for the three months ended June 30, 2022, was approximately HKD 0.18, compared to HKD 0.56 in the same period of 2021[34]. Dividend Policy - The board of directors did not recommend the payment of an interim dividend for the three months ended June 30, 2022, consistent with the previous year[3]. - The company did not recommend the distribution of an interim dividend for the three months ended June 30, 2022, compared to no dividend in the same period of 2021[18]. Revenue Sources - The company generated commission and brokerage fees from securities trading on the exchange amounting to HKD 1,258,602, a decrease from HKD 1,546,778 in the previous year[14]. - The company reported interest income from various sources totaling HKD 7,412,449, compared to HKD 5,649,227 in the previous year[14]. - The interest income from loans and financing for the three months ended June 30, 2022, was approximately HKD 7,400,000, an increase from approximately HKD 5,600,000 in the same period of 2021[30]. - The interest income from customer securities and margin accounts increased by approximately 12.1% to about HKD 1,900,000 for the three months ended June 30, 2022, compared to approximately HKD 1,700,000 in the same period of 2021[28]. Trading and Investment Activity - The company experienced a net loss of HKD 6,700,068 from financial assets measured at fair value through profit or loss, compared to a gain of HKD 6,901,170 in the previous year[6]. - The total trading volume for securities transactions decreased by approximately 41.2% to about HKD 16,878,600,000 for the three months ended June 30, 2022, compared to approximately HKD 28,689,400,000 in the same period of 2021[28]. - The value of the investment portfolio, including listed securities and debt securities, was approximately HKD 19,500,000 as of June 30, 2022, down from approximately HKD 22,300,000 as of March 31, 2022[31]. Administrative Expenses - Administrative expenses decreased by approximately 10.4% to about HKD 3,900,000 for the three months ended June 30, 2022, from approximately HKD 4,300,000 in the same period of 2021[33]. Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[60]. - The company has complied with all corporate governance code provisions except for the separation of the roles of Chairman and CEO, which are currently held by the same individual[56]. - The company has not identified any competitive business interests among its directors or major shareholders that could conflict with the group's business[53]. - The company has not established a Chairman position, with daily operations managed by the CEO and executive directors[57]. - The company plans to elect a new Chairman when appropriate[58]. - The company confirmed that all directors complied with the trading code during the three months ending June 30, 2022[55]. - The company’s independent directors have reviewed the unaudited condensed consolidated results for the three months ending June 30, 2022, ensuring compliance with applicable accounting standards[60]. Future Plans and Strategies - The company has no plans for significant investments or acquisitions of capital assets as of June 30, 2022, but will actively seek investment opportunities to enhance profitability[35]. - The company aims to expand its customer base and enhance its trading platform to develop its brokerage and underwriting businesses[36]. - The company is committed to expanding its margin and loan financing business as well as its securities advisory services to meet customer needs[36]. - The company plans to explore potential business opportunities to generate new revenue sources and enhance profitability[38]. - The company will continue to seek new strategies for market expansion and potential acquisitions[38]. Share Options - The new share option plan allows for a total of 220,000,000 shares to be granted, representing 10% of the total shares as of June 30, 2022[39]. - The fair value of the granted share options on the grant date was HKD 8,275,000, calculated using the Black-Scholes model[45]. - The expected volatility used in the option pricing model was 55.019%[45]. - The company has terminated the previous share option plan and adopted a new one to attract and retain talent[39]. - The company has set a limit that the total number of shares issued upon the exercise of options cannot exceed 1% of the issued shares as of the grant date within any 12-month period[42]. - As of June 30, 2022, the company granted a total of 60,000,000 share options to directors, representing 2.73% of the total shares[48]. Major Shareholders - Major shareholder Zillion Profit Limited holds 1,500,000,000 shares, accounting for 68.18% of the company's total shares[50]. Securities Transactions - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ending June 30, 2022[52].

Financial Performance - Total revenue and investment income for the year amounted to approximately HKD 24,900,000, a decrease of about 52.3% compared to the previous fiscal year[8] - The loss attributable to owners of the company was approximately HKD 8,000,000, representing a decrease of about 152.8%[8] - The value of the investment portfolio as of March 31, 2022, was approximately HKD 22,300,000, down from approximately HKD 75,700,000 in the previous fiscal year[8] - Securities trading commission increased by 31.4% to HKD 8,603,730 for the year ended March 31, 2022, compared to HKD 6,545,721 for the previous year[17] - Total trading volume rose by 75.5% to approximately HKD 100,149,100,000 for the year ended March 31, 2022, from approximately HKD 57,059,000,000 in the prior year[17] - Interest income from margin accounts increased by 29.5% to approximately HKD 8,086,719 for the year ended March 31, 2022, compared to HKD 6,246,091 for the previous year[18] - Loan financing interest income was approximately HKD 20,128,856 for the year ended March 31, 2022, slightly up from HKD 19,679,716 in the previous year[19] - Placement and underwriting commission surged by 131.1% to approximately HKD 4,538,864 for the year ended March 31, 2022, from HKD 1,964,110 in the prior year[20] - Net trading loss on financial assets at fair value through profit or loss was approximately HKD 1,900,000 for the year ended March 31, 2022, compared to a net gain of approximately HKD 4,400,000 in the previous year[21] - Administrative expenses increased by 16.3% to approximately HKD 19,400,000 for the year ended March 31, 2022, from HKD 16,700,000 in the previous year[25] - Other income and net losses were approximately HKD 100,000 for the year ended March 31, 2022, down from HKD 900,000 in the previous year[22] Economic Environment - The Hang Seng Index dropped to 21,996 points as of March 31, 2022, a decline of approximately 22.5% from 28,378 points a year earlier[12] - The number of IPOs in Hong Kong decreased by approximately 37.0% in 2021 and about 53.1% in the first quarter of 2022[12] - The unemployment rate in Hong Kong rose to 5.0% during the first quarter of 2022 due to the impact of the COVID-19 pandemic[12] - The group expects to face various challenges in the Hong Kong economy in 2022, including the impact of the fifth wave of the pandemic and potential uncertainties from U.S. interest rate hikes and COVID-19 in China[43] Strategic Initiatives - The company aims to expand its customer base and enhance its trading platform despite economic uncertainties[8] - The company continues to maintain a balanced investment portfolio through stable income investments such as debt securities[8] - The management expresses confidence in exploring new business opportunities to provide optimal returns to shareholders[9] - The group aims to expand its client base and strengthen its trading platform to develop its brokerage and underwriting businesses[43] - The group will continue to explore potential business opportunities to generate new revenue streams and enhance profitability[43] Corporate Governance - The board of directors is responsible for formulating the group's strategy, supervising performance, and managing risks[53] - The company has adopted a code of conduct for directors' securities trading, confirming compliance with GEM listing rules[49] - All directors attended 100% of board meetings and shareholder meetings during the fiscal year ending March 31, 2022[58] - The board meets quarterly and holds additional meetings for special matters as needed[53] - The company has three independent non-executive directors, ensuring compliance with GEM listing rules regarding independence[57] - The board is tasked with developing operational strategies and reviewing financial performance and internal controls[54] - The company currently does not have a chairman, with daily operations overseen by the CEO[62] - The board believes its operation ensures a balance of power and authority despite the absence of a chairman[64] - Directors receive training on their responsibilities and relevant regulations to ensure compliance and enhance governance awareness[59] - The company will arrange for the re-election of a new chairman at an appropriate time[65] - The Remuneration Committee held one meeting during the fiscal year ending March 31, 2022, with all members present[67] - The Nomination Committee also held one meeting during the fiscal year, with all members present, and focuses on diversity in board member selection[71] - The Audit Committee conducted five meetings in the fiscal year ending March 31, 2022, and reviewed the consolidated financial statements, confirming compliance with applicable accounting standards[74] - The external auditor's fee for statutory audit services was HKD 650,000 for the fiscal year ending March 31, 2022[77] Risk Management and Compliance - The Board is responsible for the overall internal control framework and acknowledges the necessity of risk management systems to protect shareholder interests[81] - The company has implemented appropriate insurance coverage for directors and senior officers to mitigate risks arising from business operations[83] - The company has established a whistleblowing policy to detect fraud and corruption risks[145] - The company has implemented measures to protect personal data and ensure compliance with privacy regulations[142] - There were no violations of anti-corruption laws or regulations during the year[145] Environmental, Social, and Governance (ESG) - The total greenhouse gas emissions recorded for the year amounted to 62,103.70 kg CO2 equivalent, an increase from 40,920.85 kg in the previous year[107] - The company promotes electronic interactions to reduce unnecessary business travel and minimize greenhouse gas emissions[107] - The company has implemented energy-saving measures across its offices to further reduce emissions[107] - The ESG report covers the period from April 1, 2021, to March 31, 2022, and includes key performance indicators related to the company's core business in Hong Kong[93] - The ESG working group consists of three members, including an executive director and senior management from HR and finance, to assist in managing ESG matters[100] - The board is responsible for identifying and assessing ESG-related risks and ensuring effective risk management and internal controls[97] - The company emphasizes the importance of maintaining environmental sustainability in its daily operations[105] - The company strictly adheres to local laws and regulations related to environmental protection and pollutant control[106] - The company has established a top-down ESG organizational structure to implement sustainable development concepts[96] - The board has engaged third-party ESG professionals to assist in conducting materiality assessments on ESG issues[101] - The total energy consumption recorded for the year was 87,470 kWh, an increase from 57,635 kWh in the previous year[112] - The company consumed 374.2 kg of printing paper during its daily operations[111] - The company has implemented multiple waste reduction measures, including defaulting to double-sided printing and encouraging the reuse of stationery[108] - The company has adhered to relevant laws and regulations regarding gas and greenhouse gas emissions, as well as the generation of hazardous and non-hazardous waste[109] - The company aims to maintain reasonable emission rates over the next three years, taking a cautious approach to setting targets[124] - The company encourages employees to use resources efficiently and has integrated environmental protection concepts into its daily operations[114] - The company has not faced any difficulties in obtaining government water supply during the year[113] - The board has assessed climate-related risks and opportunities, indicating that the financial impact of these risks is considered minimal[118] - The company is planning to upgrade its IT systems and enhance digital processes to align with the increasing demand for green financing and paperless securities[123] Human Resources and Employee Welfare - The overall employee turnover rate for the year was 21.4%, compared to 12.5% in the previous year, indicating a significant increase in turnover[129] - The company has recorded zero workplace injury cases over the past three years, resulting in no lost workdays[130] - The company aims to achieve a 100% training coverage rate for anti-corruption training within four years, with over 30 hours of training provided to employees this year[135] - The company provides competitive compensation and benefits, including paid sick leave, annual leave, maternity leave, and discretionary bonuses[129] - The company has implemented strict recruitment policies to ensure equal opportunities regardless of gender, age, race, religion, or disability[128] - The company complies with various local labor laws, including the Employment Ordinance and the Minimum Wage Ordinance, with no significant violations reported this year[133] - The company has established a comprehensive occupational safety program, ensuring all employees are familiar with safety procedures and emergency protocols[130] - The company conducts regular performance evaluations to determine employee training needs based on performance and industry changes[135] - The company has a standardized employee working hours policy, ensuring compliance with local regulations and employee rights[127] - The company has implemented measures to maintain a safe and healthy work environment, including air circulation and social distancing protocols due to COVID-19[133] Customer Relations and Service Quality - There were no significant customer complaints received during the year, and no disciplinary actions taken by government authorities regarding service quality[139] - The company engaged over 12 service providers this year, maintaining the same number as in 2021, all located in Hong Kong[138] - The company regularly reviews its service providers based on performance and quality[138] Shareholder Information - The company reported a total available reserve of approximately HKD 170.8 million as of March 31, 2022, which includes a share premium of about HKD 130.9 million[164] - The largest customer accounted for 9.1% of the total revenue, while the top five customers combined contributed 32.5%[171] - The company did not recommend any dividend payment for the year, compared to a dividend of HKD 0.005 per share in the previous year[158] - The company’s main business nature did not undergo any significant changes during the year[155] - The company’s charitable donations for the year were zero, down from HKD 10,000 in the previous year[168] - The company’s board of directors includes experienced professionals with over 21 years in securities trading and over 28 years in legal practice[150][151] - The company’s major subsidiaries and their contributions to the overall business are detailed in the financial statements[159] - The company’s bank loans and financial obligations are outlined in the financial statements, indicating a focus on managing debt[161] - The company has maintained a consistent operational strategy without major shifts in its business model[155] - The company’s five-year financial summary is available, providing insights into its performance trends over recent years[170] Stock Options and Director Compensation - A total of 60,000,000 stock options were granted to directors, representing approximately 2.73% of the company's total shares[183] - The exercise price for the stock options is set at HKD 0.2275 per share[183] - As of March 31, 2022, the total number of unexercised stock options under the plan is 100,000,000 shares, equivalent to about 4.55% of the issued share capital[197] - The new stock option plan allows for a maximum of 220,000,000 shares to be granted, which is 10% of the total shares as of March 31, 2022[195] - The company has adopted a stock option plan to incentivize directors and eligible employees, aiming to attract and retain talent[195] - The stock options granted under the new plan must be accepted within seven days from the grant date[195] - The company has no significant contracts in which directors have a direct or indirect substantial interest as of March 31, 2022[189] - There are no service contracts with directors that exceed a term of three years or require more than one year of notice for termination[188] - The remuneration policy for directors is based on their experience, responsibilities, workload, and time dedicated to the company[191] - The company has confirmed the independence of all independent non-executive directors as per the relevant regulations[190] - As of March 31, 2022, a total of 100,000,000 stock options were granted under the share option scheme[200] - The exercise price for the stock options is HKD 0.2275, applicable from April 9, 2014, to April 8, 2023[200] - The weighted average exercise price remains at HKD 0.2275[200] - The total balance of stock options for executive directors is 60,000,000, with no changes during the year[200] - The total balance of stock options for employees is 40,000,000, with no changes during the year[200] - The stock options granted to the executive directors include 20,000,000 each for Guo Jiancong, Yu Lianda, and Liu Jianhan[200] - The stock options are set to expire on April 8, 2023[200] - There were no cancellations or lapses of stock options during the reporting period[200] - The total number of stock options exercised during the year was zero[200] - The company maintains a consistent stock option structure with no significant changes reported[200]

Financial Performance - For the nine months ended December 31, 2021, the company recorded unaudited revenue of approximately HKD 40,600,000, an increase of about 18.2% compared to the same period last year[3]. - The unaudited profit attributable to the owners of the company for the nine months ended December 31, 2021, was approximately HKD 45,800,000, representing an increase of about 51.3% year-on-year[3]. - Basic and diluted earnings per share for the nine months ended December 31, 2021, were approximately HKD 2.08, compared to HKD 1.38 for the same period last year[3]. - For the three months ended December 31, 2021, the company reported a profit attributable to owners of approximately HKD 32,117,926, compared to HKD 8,164,299 for the same period last year[5]. - The company's total comprehensive income for the nine months ended December 31, 2021, was approximately HKD 40,688,716, compared to HKD 33,860,444 for the same period last year[5]. - The company's profit attributable to owners for the nine months ended December 31, 2021, was HKD 45,814,072, compared to HKD 30,273,415 for the same period in 2020[22]. - The net profit attributable to the company's owners for the nine months ended December 31, 2021, was approximately HKD 45,800,000, reflecting a 51.3% increase from approximately HKD 30,300,000 in the same period of 2020[34]. Revenue Sources - Commission and brokerage fees from securities trading on the Stock Exchange amounted to HKD 6,827,608 for the nine months ended December 31, 2021, an increase of approximately 38.4% from HKD 4,936,195 in the same period of 2020[17]. - Interest income from cash and margin clients was HKD 6,631,132 for the nine months ended December 31, 2021, compared to HKD 5,873,628 in the same period of 2020, reflecting an increase of approximately 12.9%[17]. - Securities and futures brokerage income increased by approximately 36.2% from about HKD 5,300,000 to approximately HKD 7,200,000 for the nine months ended December 31, 2021[27]. - Interest income from customer securities and margin accounts rose by about 14.8% to approximately HKD 6,600,000 compared to approximately HKD 5,800,000 in the same period last year[27]. Expenses and Losses - The company experienced a significant increase in administrative expenses, totaling HKD 14,813,490 for the nine months ended December 31, 2021, compared to HKD 11,678,141 for the same period last year[5]. - The company reported a fair value loss on financial assets of approximately HKD 5,125,356 for the nine months ended December 31, 2021[5]. - The company reported a net loss from financing asset impairment of HKD 7,254,655 for the nine months ended December 31, 2021, compared to no such loss in the same period of 2020[19]. Dividends - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2021, consistent with the previous year[3]. - The company did not recommend an interim dividend for the nine months ended December 31, 2021, compared to no dividend in the same period of 2020[21]. Equity and Assets - The total equity of the company as of December 31, 2021, was approximately HKD 262,356,815, an increase from HKD 248,343,778 as of December 31, 2020[8]. - The group's mortgage loan portfolio was approximately HKD 115,300,000 as of December 31, 2021, with interest income from loan and financing activities amounting to approximately HKD 16,300,000[29]. - The total value of the investment portfolio increased to approximately HKD 88,500,000 from approximately HKD 75,700,000 as of March 31, 2021[31]. Corporate Governance - The company has complied with all corporate governance code provisions during the nine months ended December 31, 2021, with some deviations noted[56]. - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with the GEM Listing Rules[55]. - The company currently does not have a chairman position, with daily operations managed by the CEO and executive directors[57]. - The board plans to elect a new chairman when appropriate circumstances arise[58]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the nine months ending December 31, 2021, ensuring compliance with applicable accounting standards and regulations[60]. - The company is focused on maintaining efficient internal controls and financial reporting processes through its audit committee[60]. Future Plans - The group plans to continue expanding its margin and loan financing business as well as securities advisory services to meet customer needs[37]. - The company has no major investment or acquisition plans but will actively seek investment opportunities to enhance profitability[36]. Stock Options - As of December 31, 2021, the total number of stock options granted under the new stock option plan was 60,000,000 shares[46]. - The fair value of the granted stock options on the grant date was HKD 8,275,000, calculated using the Black-Scholes model[43]. - The exercise price of the stock options cannot be lower than the higher of the closing price on the grant date or the average closing price over the five trading days preceding the grant date[42]. - No stock options exceeding 1% of the issued shares can be granted without shareholder approval[42]. - The expected volatility used in the option pricing model was 55.019%[43]. - The expected life of the stock options is 9 years[43].