Financial Performance - The company recorded unaudited revenue of approximately HKD 25,800,000 for the six months ended September 30, 2021, a decrease of about 7.1% compared to HKD 27,800,000 for the same period in 2020[5]. - The reported and underlying profit for the first half of the fiscal year 2022 was approximately HKD 3,700,000, an improvement from a reported net loss of approximately HKD 500,000 in the first half of fiscal year 2021[5]. - Basic and diluted earnings per share for the first half of fiscal year 2022 were HKD 0.41, compared to HKD 0.54 for the same period in fiscal year 2021[5]. - The net profit for the second quarter of fiscal year 2022 was HKD 1,754,000, compared to a net loss of HKD 2,399,000 in the second quarter of fiscal year 2021[9]. - Total income for the first half of fiscal year 2022 was HKD 25,820,000, while total income for the first half of fiscal year 2021 was HKD 27,782,000[9]. - The company reported a total comprehensive income of HKD 531,000 for the first half of fiscal year 2022, compared to HKD 7,183,000 for the same period in fiscal year 2021[13]. - The company reported a total comprehensive income of HKD 465,635 thousand for the period ending September 30, 2021, compared to HKD 464,163 thousand for the previous period, indicating a marginal increase[19]. - The company reported a basic profit of approximately HKD 3,700,000 for the first half of fiscal year 2022, down from approximately HKD 4,800,000 in the same period of fiscal year 2021[117]. - The adjusted profit for the first half of the fiscal year 2022 was HKD 3,742,000, a decrease of approximately 22.7% compared to HKD 4,838,000 in the first half of the fiscal year 2021, primarily due to reduced income from corporate financing and consulting services[130][131]. Dividends - The company did not recommend the payment of any interim dividend for the first half of fiscal year 2022[6]. - The company did not recommend any interim dividend for the first half of fiscal year 2022, compared to an interim dividend of HKD 0.001 per share in the first half of the previous year[59]. - The board did not recommend any interim dividend for the first half of the fiscal year 2022[141]. Expenses and Costs - Administrative and operating expenses for the first half of fiscal year 2022 were HKD 11,441,000, down from HKD 12,922,000 in the first half of fiscal year 2021[9]. - The total employee costs, excluding directors' remuneration, were HKD 4,778,000 for the first half of fiscal year 2022, down 20.5% from HKD 6,010,000 in the same period last year[56]. - Property expenses decreased by approximately 7.0% to about HKD 6,400,000 in the first half of fiscal year 2022, mainly due to reduced maintenance costs and the absence of agency fees for Hong Kong rental properties[126]. - The financial costs for the first half of fiscal year 2022 amounted to HKD 2,212,000, a decrease of 8% from HKD 2,405,000 in the first half of the previous year[53]. - The company's employee costs decreased due to a reduction in overall headcount, which partially offset the decline in revenue[119]. Assets and Liabilities - As of September 30, 2021, total non-current assets amounted to HKD 667,927 thousand, a slight decrease from HKD 671,988 thousand as of March 31, 2021, reflecting a 0.5% decline[15]. - Current assets totaled HKD 38,790 thousand as of September 30, 2021, down from HKD 41,490 thousand as of March 31, 2021, indicating a decrease of approximately 6.5%[15]. - Total liabilities decreased from HKD 81,296 thousand as of March 31, 2021, to HKD 78,722 thousand as of September 30, 2021, representing a reduction of about 3.2%[15]. - The company's equity attributable to owners increased slightly from HKD 449,634 thousand as of March 31, 2021, to HKD 450,571 thousand as of September 30, 2021, showing a growth of 0.2%[17]. - Non-current liabilities decreased from HKD 168,019 thousand to HKD 162,360 thousand, reflecting a decline of approximately 3.9%[17]. - Total assets as of September 30, 2021, were HKD 706,717,000, a slight decrease from HKD 713,478,000 as of March 31, 2021[47]. - Total liabilities as of September 30, 2021, were HKD 241,082,000, down from HKD 249,315,000 as of March 31, 2021[47]. - The group's current assets as of September 30, 2021, were HKD 38,790,000, while current liabilities were HKD 78,722,000, resulting in a current ratio of 0.5[133]. - The capital debt ratio decreased from approximately 43.5% as of March 31, 2021, to approximately 41.4% as of September 30, 2021, mainly due to net repayments of existing loans amounting to about HKD 8,200,000[136]. Cash Flow - For the first half of the fiscal year 2022, the net cash generated from operating activities was HKD 10,960,000, compared to HKD 9,954,000 in the same period of fiscal year 2021, representing an increase of approximately 10.1%[26]. - The net cash used in investing activities for the first half of fiscal year 2022 was HKD (486,000), a significant improvement from HKD (1,854,000) in the first half of fiscal year 2021[26]. - The net cash used in financing activities increased to HKD (10,513,000) in the first half of fiscal year 2022, compared to HKD (7,904,000) in the same period of fiscal year 2021, indicating a rise of approximately 33%[26]. - As of the end of the first half of fiscal year 2022, cash and cash equivalents decreased to HKD 35,984,000 from HKD 40,979,000 at the end of the first half of fiscal year 2021, reflecting a decline of about 12.1%[26]. - The total cash and cash equivalents at the beginning of the period were HKD 36,640,000, which was impacted by a foreign exchange loss of HKD (617,000)[26]. - The group recorded a foreign exchange loss of approximately HKD 2,700,000 for the first half of the fiscal year 2022, compared to a foreign exchange gain of approximately HKD 9,100,000 in the same period of the previous year[144]. Revenue Sources - Revenue from corporate financing and consulting services for the second quarter of the fiscal year 2022 was HKD 3,812,000, a decrease of 16% compared to HKD 4,540,000 in the same period of the previous year[34]. - Total rental income from investment properties for the second quarter of the fiscal year 2022 was HKD 9,262,000, down 5.9% from HKD 9,845,000 in the same quarter of the previous year[35]. - Net rental income for the first half of the fiscal year 2022 was HKD 12,332,000, compared to HKD 12,857,000 in the first half of the previous year, reflecting a decrease of 4.1%[35]. - The company's self-investment income fell by approximately 5.1% to about HKD 18,700,000 in the first half of fiscal year 2022, attributed to a decrease in the occupancy rate of the Japanese property portfolio and recent depreciation of the yen[116]. - The rental income from the Japanese property portfolio decreased, primarily due to a decline in occupancy rates and recent yen depreciation[123]. - Other income fell from approximately HKD 1,400,000 in the first half of fiscal year 2021 to about HKD 60,000 in the first half of fiscal year 2022, mainly due to the absence of government subsidies under the employment support scheme[124]. Shareholder Information - As of September 30, 2021, Mr. Ye holds a total of 558,450,000 shares, representing approximately 69.5% of the company's issued share capital[158]. - Mr. Ye is a trust beneficiary with 557,200,000 shares, accounting for 69.4% of the company's issued share capital[158]. - KHHL, through its wholly-owned subsidiary Flying Castle Limited, is deemed to hold 557,200,000 shares in the company, representing 69.4% of the issued share capital[158]. - Ms. Chen, as the founder of the trust, holds 557,200,000 shares and an additional 1,250,000 shares, totaling 69.4% and 0.2% respectively[158]. - Yuanta Asia Investment Limited holds 44,250,000 shares, which is approximately 5.5% of the company's issued share capital[158]. - The total number of shares held by Mr. Zeng is 22,400,000, which represents 2.8% of the company's issued share capital[158]. - Ms. Liang holds 9,400,000 shares, accounting for 1.2% of the company's issued share capital[158]. - The company has no disclosed interests or positions held by directors or senior management in any of its subsidiaries or associated companies as of September 30, 2021[156]. - The company has no other disclosed interests or positions held by major shareholders or other individuals in the company's shares or related securities as of September 30, 2021[158]. Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the first half of the 2022 financial year[170]. - The audit committee, composed of three independent non-executive directors, reviewed the group's unaudited consolidated results for the first half of the 2022 financial year[175]. - The company has not provided any loans to any entities or associated companies[170]. - The company has not received any notifications of non-compliance from directors during the reporting period[171]. - The company maintained the public float required by GEM listing rules throughout the first half of the 2022 financial year[164]. - No share options were granted during the first half of the 2022 financial year, and there were no unexercised share options as of September 30, 2021[167]. Financing Activities - The group obtained secured bank loans of HKD 30,000,000 in the first half of the 2022 fiscal year, compared to HKD 19,864,000 in the same period of the previous year, marking an increase of about 51.4%[79]. - The group repaid approximately HKD 38,152,000 of secured bank loans in the first half of the 2022 fiscal year, up from HKD 24,182,000 in the same period of the previous year, representing an increase of about 57.8%[79]. - The group entered into a financing agreement with Dah Sing Bank for a revolving loan of HKD 60,000,000 for investment and working capital purposes[174].

Financial Performance - For the first quarter of the fiscal year 2022, Altus Holdings Limited reported unaudited revenue of approximately HKD 12,700,000, a decrease of about 4.9% compared to HKD 13,400,000 in the same period of the previous year[4]. - The group recorded a reported and underlying net profit of approximately HKD 2,000,000 for the first quarter of fiscal year 2022, compared to HKD 1,900,000 in the first quarter of fiscal year 2021, indicating a slight improvement in profitability[4]. - The total comprehensive income for the first quarter of fiscal year 2022 was HKD 1,541,000, compared to HKD 2,893,000 in the same period of the previous year[12]. - The group’s pre-tax profit for the first quarter of fiscal year 2022 was HKD 3,126,000, slightly up from HKD 3,028,000 in the first quarter of fiscal year 2021[8]. - The total comprehensive income for the period was HKD 1,636,000, showing a consistent performance[16]. - For the first quarter of the fiscal year 2022, the profit attributable to the company's owners was HKD 1,756,000, compared to HKD 1,636,000 in the same period of the previous year, representing an increase of approximately 7.35%[59]. Revenue Breakdown - Revenue from corporate finance and other consulting services for Q1 2022 was HKD 3,265,000, a decrease of 6.5% from HKD 3,494,000 in Q1 2021[35]. - Total rental income from investment properties for Q1 2022 was HKD 9,481,000, down 4.3% from HKD 9,903,000 in Q1 2021[36]. - Revenue from self-investment activities contributed approximately 74.4% of total revenue in the first quarter of fiscal year 2022[81]. - The total revenue for the consulting and advisory segment in Q1 2022 was HKD 3,265,000, compared to HKD 3,494,000 in Q1 2021[43]. - The self-operated investment segment generated revenue of HKD 9,481,000 in Q1 2022, down from HKD 9,903,000 in Q1 2021[43]. - Income from self-investment decreased by approximately 4.3% to about HKD 9,500,000, mainly due to a decline in occupancy rates[84]. Expenses and Costs - Employee costs decreased to approximately HKD 2,500,000 in the first quarter of fiscal year 2022 from approximately HKD 3,600,000 in the same period of the previous year, attributed to a reduction in overall headcount[4]. - The group’s financial costs decreased to HKD 1,037,000 in the first quarter of fiscal year 2022 from HKD 1,231,000 in the same period of the previous year[8]. - Total employee costs, excluding directors' remuneration, were HKD 2,466,000 for the first quarter of fiscal year 2022, down from HKD 3,600,000 in the same period last year, a decrease of approximately 31.39%[56]. - The company incurred a depreciation expense of HKD 261,000 for property, plant, and equipment in the first quarter of fiscal year 2022, down from HKD 292,000 in the same period last year, a decrease of approximately 10.62%[56]. Shareholder Information - Major shareholder Flying Castle Limited holds 557,200,000 shares, representing 69.4% of the company's issued share capital[96]. - KHHL, controlled by Ms. Chan and the Hecico 1985 Trust, also holds 557,200,000 shares, equating to 69.4%[96]. - Ms. He holds 1,250,000 shares in I Corporation, representing 20.0% ownership[99]. - Yuanta Asia Investment Limited owns 44,250,000 shares, accounting for 5.5% of the company[96]. Corporate Governance and Compliance - The company complies with GEM listing rules regarding corporate governance and has not provided any loans to related entities[108]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for Q1 of fiscal year 2022, ensuring compliance with applicable accounting principles[113]. - The company has adopted the trading regulations as per GEM Listing Rules sections 5.48 to 5.67, confirming compliance by all directors for the fiscal year 2022 Q1[109]. Market Outlook - The board anticipates continued weakness in the underwriting business due to a downturn in the overall market atmosphere for initial public offerings[86]. - The company expects that the value or income contribution from its property investment portfolio in Japan will not experience significant changes in the future[87].

Business Strategy and Operations - The company has restructured its consulting and advisory services, focusing on corporate finance and capital market services as core offerings [26]. - The investment services are particularly aimed at providing advice related to the Japanese real estate market, contributing to financial stability [26]. - The company has established a new entity and specialized platform, Altus.ST, to address specific market needs [26]. - The investment portfolio in Japan has provided reliable and stable contributions to the company's financial performance [26]. - The company acknowledges the efforts of its employees and Japanese partners in maintaining operations during challenging conditions [26]. - The company plans to continue identifying suitable opportunities to expand its investment portfolio [26]. - The company focused on expanding its investment in real estate and securities to generate rental and dividend income, aiming for capital gains [34]. - The company has temporarily shelved its property portfolio expansion strategy due to travel restrictions preventing due diligence, but will continue to seek investment opportunities in the market [85]. - The company aims to enhance awareness of its existing and new services among current and potential clients [80]. Financial Performance - Revenue for the fiscal year 2021 was HKD 59,266,000, a decrease of 0.7% from HKD 59,666,000 in fiscal year 2020 [29]. - Pre-tax profit increased significantly to HKD 11,790,000 in fiscal year 2021 from HKD 3,920,000 in fiscal year 2020, representing a growth of 200.5% [29]. - Basic profit attributable to owners of the company for fiscal year 2021 was HKD 6,294,000, compared to HKD 494,000 in fiscal year 2020, marking a substantial increase [29]. - Total assets as of March 31, 2021, were HKD 713,478,000, a slight decrease from HKD 730,309,000 in the previous year [31]. - Total liabilities decreased to HKD 249,315,000 in fiscal year 2021 from HKD 264,115,000 in fiscal year 2020, a reduction of 5.6% [31]. - Revenue from corporate finance and other consulting services was approximately HKD 19,600,000 in fiscal year 2021, down 10.8% from HKD 22,000,000 in fiscal year 2020 [35]. - The number of effective corporate finance projects decreased, leading to a reduction in sponsorship project revenue, which was HKD 5,203,000 in fiscal year 2021, down from HKD 10,829,000 in fiscal year 2020 [36]. - Financial advisory project revenue increased by 69.6% to approximately HKD 8,900,000 in fiscal year 2021, driven by an increase in project numbers and average fees [37]. - The total revenue for the fiscal year 2021 was approximately HKD 59,300,000, a slight decrease of about 0.7% compared to HKD 59,700,000 in the previous fiscal year [50]. - The income from corporate finance and other consulting services decreased from approximately HKD 22,000,000 in fiscal year 2020 to approximately HKD 19,600,000 in fiscal year 2021, a decline of about 10.8% [51]. - The group recorded dividend income and gains from the sale of financial assets of approximately HKD 100,000 and HKD 300,000, respectively, for the fiscal year 2021 [42]. - Annual profit increased from approximately HKD 1,500,000 in fiscal year 2020 to approximately HKD 7,100,000 in fiscal year 2021, primarily due to increased rental income and a reduction in administrative and operating expenses [60]. Assets and Liabilities - The net asset value remained stable at HKD 464,163,000 in fiscal year 2021 compared to HKD 466,194,000 in fiscal year 2020 [31]. - The average occupancy rate of the investment properties in Japan slightly decreased from 94.3% in fiscal year 2020 to 93.8% in fiscal year 2021 [52]. - Property expenses for the fiscal year 2021 were approximately HKD 13,600,000, a decrease from HKD 15,400,000 in fiscal year 2020 [52]. - The valuation of the group's investment property in Hong Kong was HKD 76,000,000 as of March 31, 2021 [42]. - The market value of the group's securities investment portfolio in Hong Kong was approximately HKD 1,200,000 as of March 31, 2021 [42]. - The total interest-bearing loans decreased from approximately HKD 217,800,000 as of March 31, 2020, to approximately HKD 201,800,000 as of March 31, 2021, reflecting regular loan principal repayments [72]. - The cash and bank balance as of March 31, 2021, was approximately HKD 34,800,000, down from HKD 39,400,000 as of March 31, 2020, with approximately HKD 25,900,000 held in Japanese yen [70]. - The capital-to-debt ratio improved to 43.5% as of March 31, 2021, from 46.7% as of March 31, 2020, due to a reduction in total interest-bearing loans [69]. - The net current liabilities as of March 31, 2021, were approximately HKD 39,800,000, compared to approximately HKD 38,600,000 as of March 31, 2020 [68]. Market Conditions and Outlook - The total fundraising amount in the Hong Kong stock market reached HKD 416 billion in the first five months of 2021, with HKD 184 billion coming from initial public offerings (IPOs), representing over 7 times and about 3 times the fundraising amounts in the same period of 2020, respectively [80]. - The number of IPOs decreased from 55 in the first five months of 2020 to 39 in the same period of 2021, indicating a trend that may continue in the short term, affecting the company's underwriting business focused on small and medium enterprises [80]. - The actual rent in the Central business district of Hong Kong decreased by 14.1% year-on-year and 1.1% month-on-month as of April 2021, which may exert downward pressure on the value of the company's investment properties [82]. - The company expects rental income to remain stable in the upcoming fiscal year, contributing to improved profitability, with no significant changes anticipated in the value of the property portfolio [85]. - The company has adopted a cautious outlook for its advisory and consulting business segment for the next fiscal year due to the ongoing uncertainties caused by the COVID-19 pandemic [80]. - The board believes that despite the ongoing pandemic, the global economy and financial markets have stabilized, but the outlook for the company's two business segments remains uncertain [86]. Corporate Governance - The board consists of three executive directors and three independent non-executive directors, ensuring strong independence in decision-making [96]. - The audit committee is composed entirely of independent non-executive directors, with a focus on financial reporting and risk management [103]. - The remuneration committee held two meetings in the fiscal year to review the compensation policies for directors and senior management [107]. - The nomination committee is responsible for evaluating the board's structure and identifying suitable candidates for board membership [108]. - The company has not appointed a CEO, with the chairman leading the board and overseeing daily operations [96]. - The board regularly reviews corporate governance policies and practices, expressing satisfaction with the effectiveness achieved in the fiscal year [101]. - Independent non-executive directors have confirmed their independence in accordance with GEM listing rules [99]. - The audit committee reviewed financial statements for the fiscal year and provided recommendations on external auditor appointments [103]. - The remuneration committee is tasked with establishing a transparent process for performance-related pay [104]. - The company has established three committees to oversee specific aspects of governance, ensuring adequate resources and authority [100]. - The board of directors held a total of 8 meetings in the fiscal year 2021, with all directors attending all meetings [117]. - The total remuneration paid to auditors for the fiscal year 2021 amounted to HKD 803,000, including HKD 700,000 for audit services and HKD 103,000 for non-audit services [126]. - The company has adopted a board diversity policy, recognizing the benefits of a diverse skill set, experience, and perspectives among board members [112]. - The company secretary has complied with the relevant training requirements under GEM Listing Rule 5.15 during the fiscal year 2021 [121]. - The company has a total of 7 senior management personnel, with 3 earning between HKD 0 to 1,000,000, 3 earning between HKD 1,000,001 to 2,000,000, and 1 earning above HKD 2,000,000 [130][132]. - The nomination committee held one meeting in the fiscal year 2021 to review the re-election of directors and assess the independence of non-executive directors [110]. - The board is satisfied with the contributions made by directors during the fiscal year 2021 [112]. - The company continues to adopt a going concern basis in preparing its consolidated financial statements, with no significant uncertainties identified as of March 31, 2021 [132]. - The company has implemented continuous professional development for all directors to ensure they remain informed and can contribute effectively to the board [120]. - The company will have one executive director and one independent non-executive director retiring and seeking re-election at the upcoming annual general meeting [113]. Risk Management - The board is responsible for maintaining a sound and effective risk management and internal control system to protect shareholders' interests [143]. - An independent internal control consultant has been appointed to review the effectiveness of the internal control system and perform internal audit functions [143]. - The company has established a series of risk management policies and measures to identify key risks associated with its business, industry, and market [143]. - The board will continue to regularly evaluate and review the effectiveness of the risk management and internal control systems [143]. Shareholder Relations - The company maintains a balanced dividend policy to ensure sufficient capital for business development while rewarding shareholders [137]. - The company’s annual general meeting provides a platform for communication between the board and shareholders [136]. - Shareholders holding at least 10% of the voting rights can request a special general meeting to discuss specific matters [136]. - The company’s website provides updated information regarding the group for effective communication with shareholders [136]. - The board considers various factors, including the group's financial condition and future cash needs, when deciding on dividend payments [137]. Management Team - Mr. Zeng has been with the group since February 2001, overseeing overall operations, strategic direction, and business development [153]. - Ms. Liang has over 30 years of experience in corporate finance consulting and has held executive positions in several Hong Kong listed companies [154]. - Mr. Zhao serves as the chairman of the nomination committee and is a member of the audit and remuneration committees [157]. - Mr. Chen has over 25 years of experience in accounting, auditing, banking, and corporate secretarial roles [158]. - Mr. Li has over 20 years of experience in real estate, corporate finance, investment, and management [161]. - The group has multiple subsidiaries with various directors overseeing operations and compliance matters [156]. - The management team is composed of experienced professionals with backgrounds in investment banking and real estate [160]. - The company maintains independence among its board members and senior management [162]. - The management team is actively involved in strategic planning and business development initiatives [154]. Business Operations - The main business of the company remains investment holding, providing corporate finance and other consulting services, as well as proprietary investments [174]. - The company maintains good relationships with customers, suppliers, and employees, ensuring regular reviews of employee compensation [180]. - The company is registered in the Cayman Islands, with its main operating location in Central, Hong Kong [175]. - The company has not reported any significant changes in the nature of its main business during the fiscal year 2021 [174]. - The company’s financial performance, assets, and liabilities summary for the last five years are detailed in the financial summary section of the annual report [181]. - The company’s property, plant, and equipment changes for the fiscal year 2021 are detailed in the audited consolidated financial statements [182]. - The company’s properties held as of March 31, 2021, are detailed on pages 140 to 142 of the annual report [183]. - The company’s management team includes experienced professionals with backgrounds in finance and investment management [166][167][168]. - The fair value change of investment properties was approximately HKD 4,065,000, which has been deducted from the consolidated profit and loss and other comprehensive income statement [184]. - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the fiscal year [191]. - The company did not purchase, sell, or redeem any of its listed shares during the fiscal year [190]. - As of March 31, 2021, the company had no distributable reserves available for distribution to shareholders [189]. - There were no major contracts entered into by the group related to its business that involved significant interests held by directors or related entities during the fiscal year [198]. - The company has maintained its independent non-executive directors' independence confirmations as per GEM Listing Rules [193]. - The service contracts for executive directors are effective for an initial period of three years from the listing date, with a notice period of three months for termination [196]. - The company has purchased insurance for potential legal proceedings against directors during the fiscal year [197]. - The company has not disclosed any significant changes in reserves during the fiscal year [187]. - Details regarding changes in the company's share capital during the fiscal year are available in the audited consolidated financial statements [186].

Financial Performance - The company recorded unaudited revenue of approximately HKD 44,800,000 for the nine months ended December 31, 2020, a decrease of about 3.0% compared to HKD 46,200,000 for the same period in 2019[6]. - Other income decreased from approximately HKD 5,200,000 for the nine months ended December 31, 2019, to approximately HKD 1,900,000 for the same period in 2020, primarily due to a one-time insurance compensation of HKD 2,500,000 in 2019[6]. - The company reported a basic underlying profit of approximately HKD 8,500,000 for the nine months ended December 31, 2020, compared to HKD 4,700,000 for the same period in 2019[7]. - The reported profit for the nine months ended December 31, 2020, was approximately HKD 1,100,000, down from HKD 4,700,000 for the same period in 2019[7]. - Basic and diluted earnings per share for the nine months ended December 31, 2020, were HKD 0.0099 and HKD 0.0098, respectively, compared to HKD 0.0050 for the same period in 2019[9]. - The company reported a profit before tax of HKD 4,208,000 for the nine months ended December 31, 2020, down from HKD 7,860,000 for the same period in 2019[12]. - The company’s total profit for the nine months ended December 31, 2020, was HKD 1,147,000, compared to HKD 4,657,000 for the same period in 2019[12]. - The profit for the period was HK$1,671,000, compared to HK$1,189,000 in the third quarter of 2020, reflecting a growth of 40.49%[16]. - The company reported a basic underlying earnings per share of HK$0.45, compared to HK$0.13 in the previous year, indicating a substantial increase of 246.15%[14]. - The company’s total comprehensive income attributable to owners was HK$9,265,000, compared to a loss of HK$3,502,000 in the same period last year[16]. Revenue and Income Sources - Total revenue for the nine months ended December 31, 2020, was HK$466,194,000, compared to HK$451,774,000 for the same period in 2019, showing a growth of 3.06%[18]. - Revenue for Q3 2021 was HKD 17,053,000, an increase from HKD 15,538,000 in Q3 2020, representing a growth of 9.7%[33]. - Corporate finance service revenue for Q3 2021 was HKD 6,912,000, compared to HKD 6,321,000 in Q3 2020, reflecting an increase of 9.3%[33]. - Rental income from investment properties for Q3 2021 was HKD 10,141,000, up from HKD 9,217,000 in Q3 2020, marking a growth of 10.0%[33]. - The total rental income from investment properties for the nine months ended December 31, 2020, was HKD 29,889,000, compared to HKD 28,374,000 in the same period of 2019, an increase of 5.3%[43]. - The company’s property investment income increased by approximately 10.0% to about HKD 10,100,000 in the third quarter of fiscal year 2021, compared to HKD 9,200,000 in the same period of fiscal year 2020[77]. Expenses and Costs - Administrative and operating expenses decreased from HKD 28,153,000 for the nine months ended December 31, 2019, to HKD 20,537,000 for the same period in 2020[12]. - Total employee costs, excluding directors' remuneration, were 2,905,000 HKD in Q3 2021, down from 3,815,000 HKD in Q3 2020, reflecting a decrease of approximately 23.8%[55]. - The company recognized other income of 457,000 HKD in Q3 2021, compared to 1,560,000 HKD in the same period last year, representing a decline of about 70.7%[47]. - The financial cost for Q3 2021 was 1,122,000 HKD, slightly down from 1,169,000 HKD in Q3 2020, showing a decrease of approximately 4%[51]. - The income tax expense for Q3 2021 totaled 733,000 HKD, compared to 362,000 HKD in Q3 2020, marking an increase of about 102%[51]. Shareholder Information - The major shareholder, Flying Castle Limited, holds 557,200,000 shares, accounting for 69.65% of the company's issued share capital[91]. - Mr. Ye is a trustee beneficiary of 557,200,000 shares, which constitutes 69.65% of the company's issued share capital[91]. - The total shares held by major shareholders and related parties indicate a significant concentration of ownership within the company[91]. - The company has not engaged in any arrangements allowing directors or executives to benefit from purchasing shares during the nine months ending December 31, 2020[89]. - The company maintains compliance with the Securities and Futures Ordinance regarding the disclosure of interests and holdings[88]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the group's unaudited consolidated results for the nine months ended December 31, 2020[110]. - The company confirmed compliance with the corporate governance code during the nine months ended December 31, 2020[105]. - The company has not provided any advances to any entities or associated companies as per GEM listing rules[105]. - The main shareholders have not pledged any shares held in the company as of December 31, 2020[105]. Market Outlook and Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[17]. - The company anticipates a weak IPO market for small and medium-sized enterprises in Hong Kong, which may lead to lower income contributions from IPO sponsorship activities[81]. - The overall vacancy rate for Grade A office space in Hong Kong increased from 6.0% in December 2019 to 8.9% in December 2020, with average monthly rents decreasing by 18.9% during the same period[82]. - The company expects the residential occupancy rate in Japan to remain stable unless other adverse events occur, while maintaining vigilance towards potential market changes[83].

Altus Holdings Limited 浩德控股有限公司 於開曼群島註冊成立之有限公司 股份代號 : 8149 2021 財政年度中期報告 getherness == एक बुटता Saamhorien 香港聯合交易所有限公司（「聯交所」）GEM特色 GEM之定位乃為較其他於聯交所上市的公司帶有較高投資風險的中小型公司提供一個上市市 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。 由於GEM上市公司一般為中小型公司，於GEM買賣的證券可能會較於主板買賣的證券承受較 大的市場波動風險，同時無法保證於GEM買賣的證券會有高流通量的市場。 本報告（浩德控股有限公司（「本公司」）各董事（「董事」）共同及個別對此負全責）乃遵照聯交所 GEM證券上市規則（「GEM上市規則」）的規定而提供有關本公司的資料。董事經作出一切合理 查詢後確認，就彼等所深知及確信，本報告所載資料在各重大方面均屬準確及完整，且無誤導 或欺詐成分；及並無遺漏任何事項致使本報告或其所載任何陳述產生誤導。 1 浩德控股有限公司 • 二零二一財政年度中期報告 財務摘要 － 本公司及其附屬公司（統稱「本集團」） ...

Financial Performance - For the first quarter of the fiscal year 2021, the company reported unaudited revenue of approximately HKD 13,400,000, a decrease of about 18.8% compared to HKD 16,500,000 in the first quarter of the fiscal year 2020[6]. - The company recorded a reported and underlying net profit of approximately HKD 1,900,000 for the first quarter of fiscal year 2021, compared to HKD 200,000 in the same period of fiscal year 2020[6]. - Basic and diluted earnings per share for the first quarter of fiscal year 2021 were HKD 0.20, compared to a loss of HKD 0.01 in the first quarter of fiscal year 2020[12]. - The company’s pre-tax profit for the first quarter of fiscal year 2021 was HKD 3,028,000, compared to HKD 1,220,000 in the first quarter of fiscal year 2020[10]. - The net profit attributable to the owners of the company for the first quarter of fiscal year 2021 was HKD 1,636,000, compared to a loss of HKD 101,000 in the first quarter of fiscal year 2020[10]. - The profit for the period was HKD 1,875,000, a significant increase from a profit of HKD 162,000 in the first quarter of the fiscal year 2020[14]. - The total comprehensive income amounted to HKD 2,893,000, compared to HKD 8,439,000 in the same period of the previous year, representing a decrease of approximately 65.7%[14]. Revenue Breakdown - The total revenue for the first quarter of the fiscal year 2021 was HKD 13,397,000, a decrease of 18.5% compared to HKD 16,494,000 in the first quarter of the fiscal year 2020[36]. - Revenue from corporate finance services was HKD 3,494,000, down 50.7% from HKD 7,145,000 in the previous year[46]. - Income from property investment increased by approximately 5.9% to about HKD 9,900,000 in the first quarter of the fiscal year 2021, compared to approximately HKD 9,300,000 in the same period of the previous year[74]. - Revenue from corporate finance services decreased by approximately 51.1% in the first quarter of the fiscal year 2021, primarily due to a drop in revenue from sponsorship services from about HKD 4,400,000 to approximately HKD 700,000[72]. Cost Management - The reduction in director remuneration and employee costs to approximately HKD 4,300,000 in the first quarter of fiscal year 2021, down from HKD 8,700,000 in the first quarter of fiscal year 2020, contributed to improved profitability[6]. - Total administrative and operating expenses decreased to HKD 6,639,000 in the first quarter of fiscal year 2021 from HKD 11,466,000 in the first quarter of fiscal year 2020[10]. - Total employee costs, excluding directors' remuneration, decreased to HKD 3,600,000 in the first quarter of fiscal year 2021 from HKD 4,053,000 in the same period last year, representing a reduction of approximately 11.2%[54]. - The company incurred property expenses of approximately HKD 3,000,000 in the first quarter of the fiscal year 2021, a decrease from about HKD 5,100,000 in the first quarter of the fiscal year 2020[74]. Dividends and Shareholder Information - The board of directors does not recommend the payment of any interim dividend for the first quarter of fiscal year 2021[7]. - The company did not declare or pay any dividends during the first quarter of fiscal year 2021, consistent with the previous year[55]. - Major shareholder Flying Castle Limited holds 557,200,000 shares, representing 69.6% of the company's issued share capital[93]. - Yuanta Asia Investment Limited owns 44,250,000 shares, accounting for 5.5% of the company's issued share capital[93]. Strategic Focus and Future Outlook - The company is focused on enhancing its investment strategies and exploring new market opportunities to improve future performance[14]. - The financial results indicate a need for strategic adjustments to address the decline in comprehensive income and enhance profitability moving forward[14]. - The company anticipates that its corporate finance service transaction volume will continue to be affected by uncertainties stemming from the COVID-19 pandemic and escalating tensions between the US and China, along with increased market competition[79]. - Despite the impact of the COVID-19 pandemic, residential rental rates and occupancy rates in Japan have remained relatively stable, and this trend is expected to continue[80]. Operational Metrics - The occupancy rate of the property portfolio in Japan remained stable at approximately 94.1% in the first quarter of the fiscal year 2021, compared to about 95.7% in the same period of the previous year[74]. - The company has a total of 26 investment properties in Hong Kong and 1 commercial unit in the first quarter of the fiscal year 2021[74]. - The company recorded a net foreign exchange gain of HKD 1,000 in the first quarter of fiscal year 2021, compared to a gain of HKD 122,000 in the same period last year[54]. Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules[107]. - The audit committee has been established in accordance with GEM Listing Rules and consists of three independent non-executive directors, with Mr. Chen serving as the chairman[114]. - The audit committee's main responsibilities include reviewing and supervising the company's financial reporting processes and risk management systems[114].

Financial Performance - Total revenue for the fiscal year 2020 was HKD 59.666 million, a decrease of 23.1% from HKD 77.655 million in 2019[16] - Pre-tax profit for the fiscal year 2020 was HKD 3.920 million, down 89.3% from HKD 36.754 million in 2019[16] - Net profit after tax for the fiscal year 2020 was HKD 1.450 million, a decline of 95.3% compared to HKD 30.689 million in 2019[16] - Corporate finance service revenue for the fiscal year 2020 was approximately HKD 22,000,000, a decrease of 46.3% compared to 2019[21] - The group recorded a net decrease in the fair value of investment properties of HKD 5.3 million in fiscal year 2020, compared to a net increase of HKD 19.4 million in fiscal year 2019[46] - The group's net profit after tax dropped from approximately HKD 30.7 million in fiscal year 2019 to approximately HKD 1.5 million in fiscal year 2020[48] - The company reported a significant increase in revenue, achieving a total of $1.2 billion for the fiscal year, representing a 15% year-over-year growth[142] Assets and Liabilities - Total assets as of March 31, 2020, were HKD 730,309,000, an increase from HKD 695,499,000 in 2019[18] - Total liabilities increased to HKD 264,115,000 in 2020 from HKD 232,460,000 in 2019, representing a growth of 13.6%[18] - Net assets slightly increased to HKD 466,194,000 in 2020 from HKD 463,039,000 in 2019, showing a marginal growth of 0.5%[18] - As of March 31, 2020, the company's debt-to-equity ratio was approximately 46.7%, up from 41.0% on March 31, 2019, due to an increase in interest-bearing loans from approximately HKD 189.8 million to approximately HKD 217.8 million[55] Investment and Property Management - The company completed the construction of a group home in Sapporo, expanding its nursing home investment portfolio to a total of three properties[14] - The company acquired a new restaurant building in Kumamoto's main retail area and a residential building near downtown Sapporo, enhancing cash flow and diversifying financial advisory service risks[14] - The company highlighted the stability of rental income from its property investment portfolio in Japan as a pillar of business stability[14] - Rental income from the property investment portfolio was approximately HKD 37,700,000 for the fiscal year 2020[26] - The investment property portfolio included 25 properties in Japan and 1 in Hong Kong as of March 31, 2020[26] - The average occupancy rate for the investment properties in Japan was reported at 92% as of March 31, 2020[26] - Property investment income increased due to the addition of Relife GH and KD Shinshigai Building, resulting in increased rental income from Japan[41] Corporate Governance - The company adopted the corporate governance code as per GEM Listing Rules Appendix 15 for the fiscal year 2020[71] - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced composition[73] - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific aspects of the group[81] - Independent non-executive directors account for over one-third of the board, confirming their independence as per GEM Listing Rules[80] - The board has reviewed and is satisfied with the effectiveness of its corporate governance policies and practices for the fiscal year 2020[82] Risk Management - The company faces key risks related to corporate financing activities, including financial performance volatility and regulatory compliance challenges[62] - The board is responsible for maintaining a sound and effective risk management and internal control system to protect shareholders' interests[125] - In the fiscal year 2020, the board reviewed the effectiveness of the risk management and internal control system, concluding it was adequate and effective[125] - The group has established a series of risk management policies and measures to identify key risks related to its business, industry, and market[125] Future Outlook and Strategy - The company plans to adapt to new business operation models due to COVID-19, utilizing technology and digitalization to expand its client base[66] - The company anticipates that its corporate finance service transaction volume will be severely impacted in the upcoming quarters due to market uncertainties and increased competition[67] - The company has established a strategy to maintain and promote recurring income streams through the expansion and diversification of its property portfolio[68] - The company is exploring partnerships with other firms to enhance service delivery and expand its customer base[142] Shareholder Engagement and Dividends - The company proposed a final dividend of HKD 0.1 per share for the fiscal year 2020, compared to a final dividend of HKD 0.02 and a special dividend of HKD 0.02 for the fiscal year 2019[160] - The board of directors has recommended a distribution of dividends based on the financial performance for the fiscal year 2020, reflecting the company's commitment to returning value to shareholders[160] - The company maintains a balanced dividend policy, considering factors such as overall financial condition and future cash needs when determining dividend payouts[120] Employee and Management Structure - The company had 26 employees as of March 31, 2020, down from 31 employees on March 31, 2019[189] - The management team includes experienced professionals with backgrounds in finance and corporate governance, enhancing the company's operational capabilities[150][151][152] - The company has a total of 7 senior management personnel, reflecting its organizational structure[116]

Financial Performance - The company recorded unaudited revenue of approximately HKD 46,200,000 for the nine months ended December 31, 2019, a decrease of about 21.0% compared to approximately HKD 58,500,000 for the same period in 2018[4] - The group reported a basic net profit of approximately HKD 4,700,000 for the nine months ended December 31, 2019, down from approximately HKD 10,300,000 for the same period in 2018, indicating a significant decline in profitability[4] - Basic and diluted earnings per share for the nine months ended December 31, 2019, were HKD 0.50 and HKD 0.49 respectively, compared to HKD 1.21 for the same period in 2018[5] - The group reported a pre-tax profit of HKD 2,025,000 for the third quarter of the fiscal year 2020, a decrease from HKD 7,374,000 in the same quarter of the previous year[9] - The total comprehensive income attributable to owners of the company for the third quarter of the fiscal year 2020 was HKD 1,025,000, down from HKD 5,797,000 in the same quarter of the previous year[9] - The company reported a profit of HKD 1,189,000 for the third quarter of the fiscal year 2020, a significant decrease of 80.4% compared to HKD 6,056,000 in the same quarter of the previous year[13] - Total comprehensive income for the third quarter was HKD (3,488,000), down from HKD 17,751,000 year-over-year, indicating a decline of 119.7%[13] - The company reported a basic underlying profit of HKD 1,025,000 for the third quarter, compared to HKD 5,797,000 in the same period last year[62] Revenue Sources - The company experienced a significant reduction in income from corporate financing services, which contributed to the decline in profitability[4] - For the third quarter of the fiscal year 2020, the company reported revenue from corporate finance services of HKD 6,321,000, a decrease of 45.6% compared to HKD 11,604,000 in the same period of the previous year[34] - Total revenue for the third quarter of fiscal year 2020 was HKD 15,538,000, down 25.0% from HKD 20,671,000 in the same quarter of the previous year[34] - Revenue from corporate finance services decreased by approximately 45.5% in the third quarter of the fiscal year 2020, dropping from about HKD 9,500,000 in the previous year to approximately HKD 3,700,000[71] - Property investment revenue increased by approximately 1.7% to about HKD 9,200,000 in the third quarter of the fiscal year 2020, compared to HKD 9,100,000 in the same period of the previous year[73] Expenses and Costs - The group’s administrative and operating expenses for the nine months ended December 31, 2019, were HKD 28,153,000, compared to HKD 32,043,000 for the same period in 2018, indicating a reduction in costs[9] - The company’s financial costs for the nine months ended December 31, 2019, were HKD 3,569,000, down from HKD 4,194,000 for the same period in 2018, reflecting improved financial management[9] - Total employee costs, excluding directors' remuneration, amounted to HKD 3,815,000, an increase of 6.9% from HKD 3,569,000 in the same quarter last year[53] - The company reported a net other income and expenses of HKD (4,379,000) for Q3 2020, compared to HKD (4,504,000) in Q3 2019[41] - Interest expenses for Q3 2020 amounted to HKD (1,171,000), a decrease from HKD (1,361,000) in Q3 2019[47] Shareholder Information - As of December 31, 2019, Mr. Ye holds 559,700,000 shares, representing approximately 70.0% of the company's issued share capital[80] - Mr. Zeng and Ms. Leung hold 22,400,000 shares and 9,400,000 shares respectively, accounting for 2.8% and 1.2% of the company's issued share capital[80] - KHHL, through its wholly-owned subsidiary Flying Castle Limited, is deemed to own 557,200,000 shares, which is approximately 69.7% of the company's issued share capital[82] - The total beneficial ownership of Mr. Ye, including trust and spouse interests, amounts to 557,200,000 shares, which is approximately 69.7%[89] - Yuanta Asia Investment Limited holds 44,250,000 shares, representing 5.5% of the company's issued share capital[89] Corporate Governance - The company has complied with corporate governance codes as per GEM listing rules during the nine months ended December 31, 2019[102] - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting[108] - The audit committee confirmed that the unaudited consolidated performance for the nine months ending December 31, 2019, complied with applicable accounting principles and regulations[109] - The board of directors includes three executive directors and three independent non-executive directors, ensuring a balanced governance structure[110] Market Conditions and Future Outlook - The company’s financial performance reflects a challenging market environment, particularly in corporate finance services, which saw a significant decline in revenue[34] - The company anticipates that the corporate finance advisory business will continue to experience a slow trend in the coming months due to ongoing market volatility and uncertainties related to the Covid-19 pandemic[75] - The company plans to continue expanding and diversifying its property investment portfolio despite the negative impacts of the ongoing Covid-19 pandemic on the Hong Kong property market[77] - The company expects that the valuation of its property investment portfolio, particularly in Hong Kong, may be adversely affected due to the ongoing economic disruptions caused by Covid-19[77] Capital and Financing - The company has secured revolving loan financing of HKD 47,650,000 from Hang Seng Bank and HKD 60,000,000 from Dah Sing Bank for investment and operational purposes[107] - The company has not engaged in any arrangements that would allow directors or senior management to benefit from purchasing shares or related securities within the nine months ending December 31, 2019[87] - The company maintained a public float in compliance with GEM listing rules as of December 31, 2019[95] Other Information - The company has not reported any new product launches or significant market expansion strategies during this period[20] - The company has not granted any share options under the share option scheme as of December 31, 2019[100] - The company repurchased 1,340,000 shares at a total cost of approximately HKD 400,000 as of December 31, 2019[59] - The company repurchased an additional 690,000 ordinary shares after the nine-month period, totaling 2,030,000 shares repurchased[96]

Financial Performance - The company recorded unaudited revenue of approximately HKD 30,700,000 for the first half of the fiscal year 2020, a decrease of about 19.0% compared to HKD 37,900,000 for the same period in fiscal year 2019[4]. - The company reported a basic net profit of approximately HKD 3,500,000 for the first half of fiscal year 2020, down from HKD 4,300,000 in the same period of fiscal year 2019[4]. - Basic and diluted earnings per share for the first half of fiscal year 2020 were HKD 0.37, compared to HKD 0.49 for the same period in fiscal year 2019[5]. - The total profit for the first half of fiscal year 2020 was HKD 3,466,000, down from HKD 13,284,000 in the first half of fiscal year 2019[8]. - The company reported a profit before tax of HKD 4,614,000 for the second quarter of fiscal year 2020, compared to HKD 16,736,000 for the same quarter in fiscal year 2019[8]. - The company’s net profit attributable to owners for the first half of fiscal year 2020 was HKD 2,947,000, compared to HKD 12,908,000 for the same period in fiscal year 2019[8]. - The adjusted profit for the first half of fiscal year 2020 was HKD 3,669,000, a decrease of approximately 39.6% compared to HKD 6,075,000 in the same period of 2019[119]. Revenue Breakdown - The decrease in revenue was primarily due to a reduction in income from corporate finance services, offset by a decrease in expenses related to the proposed transfer of the company's listing status to the main board of the Stock Exchange, reduced to approximately HKD 200,000 from HKD 1,800,000 in the previous year[4]. - Revenue from corporate finance services for the second quarter of fiscal year 2020 was HKD 4,389,000, down 66% from HKD 12,916,000 in the same period of fiscal year 2019[40]. - Revenue from corporate finance services decreased by approximately 41.0%, from about HKD 14,000,000 in the first half of fiscal year 2019 to approximately HKD 6,100,000 in the first half of fiscal year 2020[103]. - Revenue from property investment increased by approximately 4.6% to about HKD 19,200,000 in the first half of fiscal year 2020, compared to HKD 18,300,000 in the first half of fiscal year 2019[104]. - The total external revenue and segment revenue for property investment in the first half of fiscal year 2020 was HKD 19,157,000, an increase of 5% from HKD 18,316,000 in the first half of fiscal year 2019[42]. Expenses and Costs - The company’s administrative and operating expenses for the first half of fiscal year 2020 were HKD 19,339,000, a decrease from HKD 23,072,000 in the same period of fiscal year 2019[8]. - The company’s financial costs for the first half of fiscal year 2020 were HKD 2,398,000, down from HKD 2,833,000 in the first half of fiscal year 2019[8]. - The company reported a total employee cost of HKD 6,995,000 for the first half of fiscal year 2020, down from HKD 7,766,000 in the same period of 2019[54]. - Property expenses increased by approximately 53.3% to about HKD 8,300,000, primarily due to repair and maintenance costs following a fire incident at a property in Suginami, Japan[115]. Dividends - The company proposed an interim dividend of HKD 0.02 per share for the first half of fiscal year 2020, consistent with the interim dividend of HKD 0.02 per share in the first half of fiscal year 2019[5]. - The board proposed an interim dividend of HKD 0.02 per share for the first half of the 2020 fiscal year, consistent with the previous year's interim dividend[130]. Assets and Liabilities - Total assets minus current liabilities amounted to HKD 636,578 thousand as of September 30, 2019, compared to HKD 625,492 thousand as of March 31, 2019, reflecting an increase of approximately 1.73%[14]. - The company's current liabilities decreased to HKD 66,045 thousand from HKD 70,007 thousand, showing a reduction of about 5.67%[15]. - The total equity attributable to the owners of the company was HKD 461,078 thousand as of September 30, 2019, up from HKD 450,683 thousand, marking an increase of approximately 2.91%[15]. - The company’s total liabilities were HKD 474,341 thousand, reflecting a slight increase from HKD 463,039 thousand in the previous period[17]. - The total liabilities decreased to HKD 228,282,000 as of September 30, 2019, from HKD 232,460,000 as of March 31, 2019[45]. Cash Flow - Net cash generated from operating activities for the first half of the fiscal year 2020 was HKD 12,118,000, an increase from HKD 10,535,000 in the same period of the previous year[24]. - Cash and cash equivalents at the end of the first half of fiscal year 2020 were HKD 37,805,000, down from HKD 45,246,000 at the end of the previous year[24]. - The company incurred a net cash outflow from investing activities of HKD 270,000 in the first half of fiscal year 2020[24]. - The company paid HKD 2,611,000 in interest during the first half of fiscal year 2020, compared to HKD 2,956,000 in the same period of the previous year[24]. Shareholder Information - As of September 30, 2019, Mr. Ye held a beneficial interest in 572,552,000 shares, representing approximately 71.6% of the company's issued share capital[138]. - KHHL holds an 80% equity interest in the company through its wholly-owned subsidiary, Flying Castle Limited, with Mr. Ye being one of the beneficiaries[145]. - Major shareholder Flying Castle Limited owns 570,052,000 shares, representing 71.3% of the company's issued share capital[148]. - The company maintains a public float as required by GEM listing rules[154]. Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[166]. - The company has complied with GEM Listing Rules regarding corporate governance and has not provided any loans to any entities or affiliates[161].

Financial Performance - For the first quarter of the fiscal year 2020, the company reported unaudited revenue of approximately HKD 16,500,000, an increase of about 3.7% compared to HKD 15,900,000 in the same period of the previous fiscal year[6]. - The net profit for the first quarter of fiscal year 2020 was approximately HKD 200,000, a significant improvement from a net loss of approximately HKD 1,400,000 in the first quarter of fiscal year 2019[6]. - The total comprehensive income for the first quarter of fiscal year 2020 was HKD 8,439,000, compared to a total comprehensive loss of HKD 16,428,000 in the same period of the previous fiscal year[10]. - The company reported a pre-tax profit of HKD 1,220,000 for the first quarter of fiscal year 2020, compared to a pre-tax loss of HKD 1,015,000 in the previous year[9]. - The total revenue for Q1 2020 was HKD 16,494,000, representing an increase of 3.67% compared to HKD 15,908,000 in Q1 2019[26]. - The total profit before tax for Q1 2020 was HKD 1,220,000, a recovery from a loss of HKD 1,015,000 in Q1 2019[33]. Revenue Breakdown - Revenue from corporate finance services in Q1 2020 was HKD 7,145,000, up 7.65% from HKD 6,637,000 in Q1 2019[26]. - Revenue from corporate finance services contributed approximately 43.3% of total revenue in the first quarter of fiscal year 2020, with a 7.7% increase compared to the same period in fiscal year 2019[50]. - Property investment revenue slightly increased by about 0.8% to approximately HKD 9,300,000 in the first quarter of fiscal year 2020, primarily due to an increase in occupancy rates of the Japanese property portfolio[51]. Expenses and Costs - The company incurred administrative and operating expenses of HKD 11,466,000 in the first quarter of fiscal year 2020, a decrease from HKD 12,877,000 in the previous year[9]. - The company’s financial costs for the first quarter of fiscal year 2020 were HKD 1,101,000, down from HKD 1,340,000 in the same period of the previous fiscal year[9]. - The total employee costs, excluding directors' remuneration, were HKD 4,053,000 in the first quarter of fiscal year 2020, down from HKD 4,723,000 in the same period of fiscal year 2019[40]. - The company’s total employee costs included directors' remuneration of HKD 4,683,000 in the first quarter of fiscal year 2020, an increase from HKD 3,439,000 in the same period of fiscal year 2019[40]. - Property expenses rose from approximately HKD 2,800,000 in the first quarter of fiscal year 2019 to approximately HKD 5,100,000 in the first quarter of fiscal year 2020 due to maintenance costs at City Court Suginami[53]. Foreign Exchange and Other Income - The company recorded a foreign exchange gain of approximately HKD 100,000 in the first quarter of fiscal year 2020, compared to a foreign exchange loss in the previous year[6]. - The company received insurance compensation of approximately HKD 2,400,000 related to a fire incident at one of its investment properties in Hokkaido, Japan, which was recorded as other income[51]. - Other income for the first quarter of fiscal year 2020 was HKD 2,493,000, a significant increase from HKD 60,000 in the same period of the previous fiscal year[9]. Dividends and Shareholder Information - The company did not recommend the payment of any interim dividend for the first quarter of fiscal year 2020[7]. - The company did not declare or pay any dividends for the first quarter of fiscal year 2020, consistent with the first quarter of fiscal year 2019[41]. - Major shareholder Flying Castle Limited holds 570,052,000 shares, representing 71.3% of the company's issued share capital[72]. - Major shareholder Yuanta Asia Investment Limited holds 44,250,000 shares, representing 5.5% of the company's issued share capital[72]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated results for the first quarter of the 2020 financial year[92]. - The company has complied with GEM Listing Rules regarding corporate governance and has not provided any loans to any entities[87]. - The company confirmed that no directors or major shareholders have any interests in businesses that directly or indirectly compete with the group[90]. - The company has adopted trading rules for directors in accordance with GEM Listing Rules[89]. Future Outlook and Market Conditions - The board anticipates that the corporate finance business will continue to be adversely affected by uncertainties arising from recent social unrest in Hong Kong and the ongoing US-China trade dispute[55]. - The performance of property investments in Japan is expected to remain stable, while the ongoing political turmoil in Hong Kong may negatively impact the operation and valuation of properties in Hong Kong in the short to medium term[58]. - The company continues to focus on expanding its market presence and enhancing its investment strategies in the upcoming quarters[12]. - The group aims to explore new business opportunities to maintain competitiveness in the industry amidst uncertainties[57].