Financial Performance - Revenue for the nine months ended June 30, 2020, was HKD 12,545,000, representing a 96% increase compared to HKD 6,398,000 for the same period in 2019[10] - Other income increased significantly to HKD 3,409,000 for the nine months ended June 30, 2020, compared to HKD 579,000 in the previous year, marking a 487% increase[10] - The company reported a profit before tax of HKD 4,098,000 for the nine months ended June 30, 2020, compared to a loss of HKD 4,665,000 in the same period of 2019[10] - Basic earnings per share for the nine months ended June 30, 2020, was HKD 0.41, a turnaround from a loss of HKD 0.47 per share in the previous year[10] - The company’s total comprehensive income for the nine months ended June 30, 2020, was HKD 4,098,000, a significant recovery from a total comprehensive loss of HKD 4,665,000 in the previous year[10] - The company recorded a profit attributable to owners of HKD 4,098 thousand for the nine months ended June 30, 2020, compared to a loss of HKD 4,665 thousand in the same period of 2019[29] - The company reported a net profit of approximately HKD 4.1 million for the nine months ended June 30, 2020, compared to a net loss of approximately HKD 4.7 million in the same period last year[43] Equity and Retained Earnings - Total equity as of June 30, 2020, was HKD 43,799,000, an increase from HKD 43,701,000 at the beginning of the period[11] - The company’s retained earnings improved to HKD 2,500,000 as of June 30, 2020, from a cumulative loss of HKD 1,598,000 at the beginning of the period[11] Expenses - The company incurred operating lease expenses of HKD 7,870,000 for the nine months ended June 30, 2020, down from HKD 8,687,000 in the previous year[10] - Financial expenses for the nine months ended June 30, 2020, totaled HKD 92,000, compared to no financial expenses in the same period of 2019[10] - Employee benefit expenses for the nine months ended June 30, 2020, were approximately HKD 7.9 million, a decrease of about HKD 0.8 million from approximately HKD 8.7 million in the previous year[38] - Other operating expenses for the nine months ended June 30, 2020, were approximately HKD 2.6 million, an increase from approximately HKD 2.2 million in the same period last year[42] Business Operations - The company continues to focus on institutional financing advisory services as its primary business operation[15] - The company’s financial advisor service revenue for the nine months ended June 30, 2020, was HKD 11,450 thousand, up from HKD 5,263 thousand in the same period of 2019, reflecting a 117% increase[22] - The number of institutional financing advisory transactions increased to 33 for the nine months ended June 30, 2020, a slight increase of 6.5% from 31 transactions in the same period last year[36] - The company anticipates that its financial services transaction processes will be affected to varying degrees due to the ongoing impact of the COVID-19 pandemic and economic uncertainties[34] - The company plans to adopt a cautious and conservative approach in its asset management business due to the challenging business environment[34] Shareholding and Management - As of June 30, 2020, Ms. Xie holds 750,000,000 shares, representing 75% of the total shares of the company[56] - Mr. Lin, as Ms. Xie's spouse, is also deemed to hold 750,000,000 shares, equivalent to 75% of the total shares[57] - No other directors or senior management have disclosed any interests or short positions in the company's shares as of June 30, 2020[61] - Access Cheer, a related corporation, has 750,000,000 shares held by Ms. Xie, which constitutes 75% of its total issued share capital[62] Audit and Compliance - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing the group's financial reports and overseeing risk management[67] - The unaudited consolidated report for the nine months ending June 30, 2020, has been reviewed by the audit committee[68] Dividends - The company did not declare any dividends for the three months ended June 30, 2020, consistent with the previous year[28] - The board does not recommend the payment of a dividend for the three months ended June 30, 2020[47] Subsidiaries and Licenses - The company has established a wholly-owned subsidiary, Baoji Asset Management, which received a conditional license for regulated activities on May 21, 2020[31] Securities Transactions - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[65]

Financial Performance - The company reported revenue of HKD 10,210,000 for the six months ended March 31, 2020, representing a 133% increase compared to HKD 4,389,000 for the same period in 2019[15]. - The net profit attributable to the owners of the company for the six months ended March 31, 2020, was HKD 1,870,000, compared to a loss of HKD 3,939,000 in the same period of 2019[15]. - Basic earnings per share for the six months ended March 31, 2020, was HKD 0.19, a significant improvement from a loss of HKD 0.39 in the previous year[15]. - The company reported a net profit of HKD 1,870,000 for the six months ended March 31, 2020, compared to a loss of HKD 3,939,000 in the same period of the previous year, indicating a significant turnaround[22]. - Operating cash flow before tax profit/loss was HKD 2,501,000 for the six months ended March 31, 2020, compared to a loss of HKD 4,275,000 in the prior year[22]. - The company recorded a net profit of approximately HKD 1.9 million for the six months ended March 31, 2020, compared to a net loss of HKD 3.9 million in the same period last year[68]. Assets and Liabilities - The company’s total assets as of March 31, 2020, were HKD 43,642,000, slightly down from HKD 44,364,000 as of September 30, 2019[17]. - Cash and cash equivalents decreased to HKD 32,765,000 as of March 31, 2020, from HKD 39,532,000 as of September 30, 2019[17]. - The company’s total equity as of March 31, 2020, was HKD 41,571,000, a decrease from HKD 43,701,000 as of September 30, 2019[17]. - The company’s total liabilities included lease liabilities of approximately HKD 3,200,000 as of October 1, 2019, reflecting the new accounting standard[30]. - The company’s total liabilities decreased from HKD 1,569 million as of September 30, 2019, to HKD 241 million as of March 31, 2020[14]. Income and Expenses - The company incurred employee benefit expenses of HKD 5,781,000 for the six months ended March 31, 2020, down from HKD 6,739,000 in the same period of 2019[15]. - The company’s operating lease expenses for the six months ended March 31, 2020, were HKD 107,000, down from HKD 382,000 in the same period of 2019[15]. - Other operating expenses for the same period were approximately HKD 1.9 million, an increase from HKD 1.5 million in the previous year[66]. - The company recognized right-of-use assets of approximately HKD 3,200,000 upon the adoption of HKFRS 16[30]. Revenue Sources - Revenue from financial advisory services for the six months ended March 31, 2020, was HKD 9,400,000, an increase of 168% compared to HKD 3,509,880 for the same period in 2019[33]. - The company reported other income of HKD 278,000 for the six months ended March 31, 2020, down from HKD 406,000 in the same period of 2019[15]. - The company’s other income for the six months ended March 31, 2020, was approximately HKD 0.3 million, slightly down from HKD 0.4 million in the previous year[64]. Shareholder Information - The company paid dividends amounting to HKD 4,000,000 during the reporting period[24]. - The board did not recommend a dividend for the three months ended March 31, 2020[81]. - The group declared a dividend of HKD 0.004 per share, totaling HKD 4 million for the three months ended December 31, 2019[80]. Strategic Developments - The company established a wholly-owned subsidiary, Baoji Asset Management, to diversify its services and expand its revenue base, with an application for regulatory approval currently under review[58]. - The company is exploring potential acquisitions to strengthen its position in the fintech sector[113]. - A new strategic partnership was announced, expected to generate an additional HKD 150 million in revenue over the next year[113]. Market and Operational Insights - The number of institutional financing advisory transactions increased to 28, representing a growth of approximately 33.3% compared to 21 transactions in the same period last year[63]. - The number of corporate fundraising transactions increased to 108, up approximately 22.7% from 88 transactions in the same period last year[60]. - The company anticipates a challenging business environment due to tightened regulatory measures and economic uncertainties, particularly from the COVID-19 pandemic[61]. Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules, with some deviations explained[89]. - The audit committee consists of three independent non-executive directors, responsible for reviewing the group's financial reports and risk management[111]. - The audit committee has reviewed the unaudited consolidated report for the six months ended March 31, 2020[112].

Financial Performance - The group's revenue for the three months ended December 31, 2019, was HKD 7,010,000, a significant increase of 240% compared to HKD 2,059,000 in the same period of 2018[11] - The group reported a profit before tax of HKD 1,880,000, compared to a loss of HKD 3,576,000 in the same period last year, indicating a turnaround in performance[11] - Basic earnings per share for the period was HKD 0.19, compared to a loss per share of HKD 0.36 in the previous year[11] - The total comprehensive income attributable to owners of the company for the period was HKD 1,880,000, compared to a total comprehensive loss of HKD 3,576,000 in the same period last year[11] - The company reported a profit attributable to owners of HKD 1.88 million for the three months ended December 31, 2019, compared to a loss of HKD 3.58 million in the same period of 2018[31] - Net profit for the three months ended December 31, 2019, was approximately HKD 1.9 million, compared to a net loss of approximately HKD 3.6 million for the same period in 2018, primarily due to an increase in revenue of about HKD 5.0 million[43] Revenue Sources - The company generated advisory fee income of HKD 7.01 million, with financial advisory fees contributing HKD 6.26 million and independent financial advisory fees contributing HKD 0.75 million[24] - Other income for the period was HKD 159,000, a slight decrease from HKD 191,000 in the previous year[11] - Other income, primarily from bank interest, was approximately HKD 0.16 million for the three months ended December 31, 2019, compared to HKD 0.19 million in the same period of 2018[25] Employee Expenses - Employee benefit expenses decreased to HKD 3,904,000 from HKD 4,812,000, reflecting a reduction of approximately 19%[11] - Employee benefits expenses amounted to approximately HKD 3.9 million, a decrease of about HKD 0.9 million compared to HKD 4.8 million in the same period of 2018[40] Dividends - The board declared a dividend of HKD 0.004 per share for the three months ended December 31, 2019, compared to no dividend in the same period of 2018[28] - The board declared a dividend of HKD 0.004 per share for the three months ended December 31, 2019, compared to no dividend in 2018[44] Business Operations - The company continues to focus on institutional financing advisory services as its primary business operation[15] - The number of institutional financing advisory transactions increased to 21 during the three months ended December 31, 2019, a 50% increase from 14 transactions in the same period of 2018[38] - The number of transactions related to the Takeovers Code increased by approximately 7.7% to about 140 transactions from 130 transactions in the same period of 2018[35] - The company plans to diversify its business by establishing a wholly-owned subsidiary, Baoji Asset Management, to provide asset management services, pending regulatory approval[33] Regulatory and Economic Environment - The company anticipates challenges in its business environment due to tightened regulatory measures and economic uncertainties, including the impact of the COVID-19 outbreak[36] - The company expects overall business uncertainty and adverse impacts due to the weak economic conditions in Hong Kong[36] Assets and Liabilities - The group recognized right-of-use assets amounting to approximately HKD 3.2 million upon adopting the new accounting standard for leases[20] - Lease liabilities were recorded at approximately HKD 1.2 million and HKD 2 million under other payables and non-current liabilities, respectively[20] - The group’s total equity as of December 31, 2019, was HKD 41,581,000, down from HKD 45,267,000 a year earlier[12] - As of December 31, 2019, the group had no significant investments[46] Corporate Governance - The company complied with the corporate governance code during the three months ended December 31, 2019, with some exceptions noted[48] - The Audit Committee consists of three independent non-executive directors, chaired by Mr. Zeng Chong[65] - The main responsibilities of the Audit Committee include reviewing the group's annual, semi-annual, and quarterly reports, and providing recommendations on the appointment and dismissal of external auditors[67] - The Audit Committee has reviewed the unaudited consolidated performance of the group for the three months ended December 31, 2019[68] Other Information - The company did not purchase, sell, or redeem any of its listed securities during the period[63] - The company has not disclosed any new product developments or market expansion strategies in the provided content[47] - The company recorded an increase in depreciation of property, plant, and equipment of approximately HKD 0.4 million, with HKD 0.3 million attributed to the application of the new and revised Hong Kong Financial Reporting Standard 16[43]

Financial Performance - For the fiscal year ending September 30, 2019, the group's revenue was approximately HKD 10.7 million, a decrease from HKD 22.2 million in 2018, representing a decline of about 52.1%[29] - The company reported a loss attributable to owners of approximately HKD 4.7 million, compared to a profit of HKD 1.0 million for the fiscal year ending September 30, 2018[29] - Revenue for the year ended September 30, 2019, was approximately HKD 10.7 million, a decrease of about HKD 11.5 million or 51.8% compared to approximately HKD 22.2 million for the same period last year[35] - The group recorded a net loss of approximately HKD 4.7 million for the year, compared to a profit of approximately HKD 1.0 million in the previous year[41] - Cash and cash equivalents as of September 30, 2019, were approximately HKD 39.5 million, down from approximately HKD 45.8 million in 2018[43] - The total distributable reserves as of September 30, 2019, amounted to approximately HKD 33.5 million, an increase from HKD 22.8 million in 2018[165] Advisory Services and Market Conditions - The group primarily provides institutional financing advisory services in Hong Kong, regulated under the Securities and Futures Ordinance[30] - The company acts as a financial advisor for public listings and mergers and acquisitions, focusing on compliance with the Stock Exchange's listing rules[30] - Regulatory tightening and economic uncertainties, including China's capital outflow controls and US-China trade conflicts, have adversely affected merger and acquisition activities and corporate fundraising in Hong Kong[31] - The number of institutional financing advisory transactions decreased from 47 to 36, representing a decline of approximately 23.4% year-on-year[35] Operating Expenses and Employee Benefits - Employee benefits expenses increased to approximately HKD 10.9 million, a rise of about HKD 0.9 million or 9.0% compared to approximately HKD 10.0 million last year[38] - Other operating expenses rose to approximately HKD 4.2 million from approximately HKD 3.6 million, mainly due to increased fees paid to professionals[39] Corporate Governance - The company has complied with all corporate governance codes, with a balanced composition of executive and independent non-executive directors on the board[72] - The board of directors remains unchanged this year, consisting of 4 executive directors and 3 independent non-executive directors, ensuring a balanced composition in terms of skills and experience[75] - The company has adopted a dividend policy that requires maintaining sufficient reserves to meet current and future operational and capital requirements, with no predetermined dividend payout ratio[81] - The nomination committee, established in February 2018, is responsible for reviewing the board's structure and composition, and has met once during the fiscal year ending September 30, 2019[82][87] - The remuneration committee, also established in February 2018, has reviewed the company's remuneration policy and the compensation of executive directors and senior management during the fiscal year[89][90] Risk Management - The group recognizes that risk is an inherent part of its business activities, particularly in providing institutional financing advisory services, and aims to balance client interests with the group's safety and stability[114] - The risk management approach covers multiple areas, including credit, market, liquidity, operational, compliance, legal, capital, and reputational risks, with controls established for each area[115] - The audit committee has reviewed the risk management and internal control systems and found them sufficient and effective in financial control, operational, and compliance control[120] - No significant control deficiencies were identified during the risk management and internal control review conducted during the year[121] Future Plans and Growth Strategy - The company plans to establish a wholly-owned subsidiary, Baoji Asset Management, to diversify its services and expand its revenue base, pending regulatory approval[68] - The company is optimistic about future growth, projecting a revenue increase of 20% for the next fiscal year[138] - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[138] - The management team has identified potential acquisition targets to bolster service offerings and client base[138] - The company has implemented new strategies to improve operational efficiency, aiming for a 10% reduction in costs[138] Shareholder Communication and Compliance - The board has established a shareholder communication policy to maintain ongoing dialogue with shareholders and investment groups[122] - The company complied with all relevant laws and regulations during the year, with no significant violations reported[179] - The company has maintained a public float of at least 25% of its total issued shares as required by GEM listing rules[105] Donations and Dividends - The group made donations totaling approximately HKD 0.5 million during the year, a decrease from HKD 1.1 million in 2018[172] - The group did not recommend any final dividend for the year[160]

Financial Performance - For the nine months ended June 30, 2019, the total revenue was HKD 6,398,000, a decrease of 61.8% compared to HKD 16,730,000 for the same period in 2018[10]. - The company reported a loss before tax of HKD 4,665,000 for the nine months ended June 30, 2019, compared to a loss of HKD 1,531,000 for the same period in 2018[10]. - The basic and diluted loss per share for the nine months ended June 30, 2019, was HKD (0.47), compared to HKD (0.28) for the same period in 2018[10]. - Total comprehensive loss for the nine months ended June 30, 2019, was HKD (4,665,000), compared to a total comprehensive loss of HKD (2,484,000) for the same period in 2018[10]. - The company incurred a loss attributable to owners of HKD 4,665,000 for the nine months ended June 30, 2019, compared to a loss of HKD 2,484,000 for the same period in 2018[27]. - Net loss for the nine months ended June 30, 2019, was approximately HKD 4.7 million, an increase from a net loss of approximately HKD 2.5 million for the same period last year[39]. - The increase in net loss was primarily due to a decrease in revenue of approximately HKD 10.3 million and a reduction in listing expenses and income tax expenses of approximately HKD 5.5 million and HKD 0.9 million, respectively[39]. Revenue and Income - The company recorded other income of HKD 579,000 for the nine months ended June 30, 2019, significantly higher than HKD 99,000 for the same period in 2018[10]. - Revenue for the nine months ended June 30, 2019, was approximately HKD 6.4 million, a decrease of about HKD 10.3 million or 61.7% compared to HKD 16.7 million for the same period last year[34]. - Other income for the nine months ended June 30, 2019, included bank interest income of approximately HKD 0.6 million, compared to none in 2018[35]. Expenses - Employee benefit expenses decreased to HKD 8,687,000 for the nine months ended June 30, 2019, down 7.4% from HKD 9,383,000 in the previous year[10]. - The company incurred operating lease expenses of HKD 599,000 for the nine months ended June 30, 2019, compared to HKD 579,000 for the same period in 2018[10]. - The company did not incur any listing expenses during the nine months ended June 30, 2019, compared to HKD 5,569,000 in the previous year[10]. - Other operating expenses for the nine months ended June 30, 2019, were approximately HKD 2.2 million, down from approximately HKD 2.7 million for the same period in 2018[37]. - The company’s auditor remuneration decreased to HKD 188,000 for the nine months ended June 30, 2019, compared to HKD 143,000 for the same period in 2018[23]. Equity and Dividends - The company's total equity as of June 30, 2019, was HKD 44,178,000, down from HKD 48,843,000 as of October 1, 2018[11]. - The company did not declare any dividends for the nine months ended June 30, 2019, consistent with the previous year[25]. - The company did not recommend the payment of dividends for the nine months ended June 30, 2019[41]. Market and Strategic Initiatives - The company aims to expand its market presence and enhance its operational capabilities through strategic initiatives in the coming quarters[12]. - The company plans to expand its capabilities in providing quality institutional financing advisory services, which remain its primary source of revenue[31]. - The number of corporate fundraising transactions in Hong Kong decreased to approximately 149, down 39.4% from about 246 transactions in the same period last year[32]. - The company’s advisory service fees further declined due to intensified pricing competition and a weak institutional financing advisory market[32]. - The number of transactions related to the Takeovers Code decreased by approximately 12.7% to about 345 transactions compared to 395 transactions in the same period last year[32]. - The number of institutional financing advisory transactions handled decreased to 31, down approximately 24.4% from 41 transactions in the same period last year[34]. Governance and Compliance - The audit committee consists of three independent non-executive directors, with Mr. Zeng Chong serving as the chairman[58]. - The audit committee's main responsibilities include reviewing the group's annual, semi-annual, and quarterly reports, as well as overseeing risk management and internal control systems[58]. - The group reviewed its unaudited consolidated performance for the nine months ending June 30, 2019[58]. - The company did not adopt any new or revised Hong Kong Financial Reporting Standards that would have a significant impact on its financial statements[20]. Investments - There were no significant investments made during the period[40]. - The company had no purchases, sales, or redemptions of its listed securities during the period[55].

Financial Performance - For the six months ended March 31, 2019, the company reported revenue of HKD 4,389,000, a decrease of 53.8% compared to HKD 9,505,000 for the same period in 2018[16]. - The company incurred a loss before tax of HKD 3,939,000 for the six months ended March 31, 2019, compared to a loss of HKD 4,822,000 for the same period in 2018, representing an improvement of 18.4%[16]. - The total comprehensive loss attributable to owners of the company for the six months ended March 31, 2019, was HKD 3,939,000, compared to HKD 5,114,000 for the same period in 2018, indicating a reduction of 23.0%[16]. - The company reported a total loss of HKD 3,939,000 for the six months ended March 31, 2019, compared to a loss of HKD 4,822,000 for the same period in 2018, representing a 18.3% improvement in loss[19]. - The group reported a net loss of approximately HKD 3.9 million for the six months ended March 31, 2019, a decrease from a net loss of HKD 5.1 million for the same period in 2018, primarily due to reduced revenue and lower listing and tax expenses[83]. Assets and Liabilities - As of March 31, 2019, the company's total assets amounted to HKD 45,681,000, a decrease from HKD 50,983,000 as of September 30, 2018[17]. - The company's net asset value as of March 31, 2019, was HKD 44,904,000, down from HKD 48,843,000 as of September 30, 2018, reflecting a decline of 8.0%[17]. - The company’s total liabilities as of March 31, 2019, were HKD 535,000, a decrease from HKD 1,968,000 as of September 30, 2018, indicating improved financial stability[17]. - The company's total equity as of March 31, 2019, was HKD 44,904,000, down from HKD 48,843,000 as of October 1, 2018, reflecting a decrease of 8.4%[19]. - Trade receivables as of March 31, 2019, were HKD 1,875,000, down from HKD 4,727,000 as of September 30, 2018, reflecting a decrease of 60.3%[61]. Cash Flow and Financing - Operating cash flow for the six months ended March 31, 2019, was a net outflow of HKD 4,240,000, compared to a net outflow of HKD 1,583,000 in the previous year, indicating a worsening cash flow situation[21]. - The company did not generate any cash inflow from financing activities in the six months ended March 31, 2019, compared to an inflow of HKD 40,089,000 in the same period of 2018[23]. - The company’s cash and cash equivalents as of March 31, 2019, were HKD 41,920,000, a decrease from HKD 45,754,000 as of September 30, 2018[17]. - Cash and cash equivalents decreased to HKD 41,920,000 as of March 31, 2019, from HKD 45,754,000 at the beginning of the period, a decline of 8.1%[23]. - The net proceeds from the initial public offering amounted to approximately HKD 29.0 million, with HKD 0.3 million utilized during the review period, leaving approximately HKD 26.5 million in short-term deposits[94]. Employee Expenses - Employee benefit expenses for the six months ended March 31, 2019, were HKD 6,739,000, an increase of 15.9% compared to HKD 5,807,000 for the same period in 2018[16]. - Employee benefit expenses amounted to approximately HKD 6.7 million, an increase of about HKD 0.9 million from approximately HKD 5.8 million in the same period last year, mainly due to salary adjustments and hiring of professional staff[80]. - The group employed 16 staff members as of March 31, 2019, consistent with the previous year, and provided comprehensive training programs for employees[92]. Revenue Recognition and Accounting Standards - The group adopted HKFRS 15 on October 1, 2018, leading to changes in accounting policies with no significant impact on revenue recognition[35]. - The group confirmed revenue upon the transfer of control of goods or services to customers, aligning with the five-step model introduced by HKFRS 15[38]. - The adoption of HKFRS 15 did not have a significant impact on the group's financial performance or position[48]. - The group’s revenue recognition practices now include criteria for recognizing revenue over time based on specific performance obligations[41]. - As of March 31, 2019, adjustments related to HKFRS 15 included a reclassification of contract liabilities amounting to HKD 279,000[45]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix 15 for the six months ending March 31, 2019, with some deviations explained[101]. - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[119]. - The audit committee has reviewed the unaudited consolidated results of the group for the six months ending March 31, 2019[122]. - The company has confirmed compliance with the trading regulations for directors during the reporting period[102]. Market Conditions and Future Outlook - The company anticipates a continued decline in corporate fundraising and merger activities due to tightened regulatory measures and economic uncertainties[76]. - The group has observed a significant decrease in IPO activity, with only 43 successful listings from January to March 2019, down approximately 37.7% from the previous year[98]. - The group plans to delay the establishment of its IPO team until regulatory and economic conditions become clearer, reflecting a prudent approach to its expansion strategy[99].

Financial Performance - The group's revenue for the three months ended December 31, 2018, was HKD 2,059,000, a decrease of 52.7% compared to HKD 4,345,000 for the same period in 2017[11] - The group reported a loss before tax of HKD 3,576,000, significantly higher than the loss of HKD 256,000 in the prior year[11] - Basic and diluted loss per share for the period was HKD 0.36, compared to HKD 0.03 for the same period in 2017[11] - The total comprehensive loss for the period attributable to owners of the company was HKD 3,576,000, compared to HKD 239,000 in the previous year[11] - The net loss attributable to shareholders for the three months ended December 31, 2018, was approximately HKD 3.6 million, compared to a net loss of HKD 0.2 million for the same period in 2017[37] Revenue Sources - Other income for the same period was HKD 191,000, compared to no other income reported in the previous year[11] - The group’s financial advisory fees generated revenue of HKD 1,729,000, a decrease of 60.2% from HKD 4,345,000 in the previous year[20] - The independent financial advisory services contributed HKD 330,000 in revenue, with no revenue reported in the same period last year[20] - Revenue for the three months ended December 31, 2018, was approximately HKD 2.1 million, a decrease of about HKD 2.2 million or 51.2% compared to HKD 4.3 million for the same period in 2017[32] Employee Expenses - Employee benefits expenses increased to HKD 4,812,000 from HKD 4,101,000, reflecting a rise of 17.3% year-over-year[11] - Employee benefit expenses amounted to approximately HKD 4.8 million, an increase of about HKD 0.7 million compared to HKD 4.1 million for the same period in 2017[34] Operational Focus - The company’s operational focus remains on providing institutional financing advisory services, with no new products or technologies reported in this quarter[16] - The company anticipates continued market decline and uncertainty affecting its institutional financing advisory services[31] - The number of institutional financing advisory transactions increased to 14 during the period, up 27.3% from 11 transactions in the same period of 2017[32] Shareholder Information - The company’s total equity as of December 31, 2018, was HKD 45,267,000, down from HKD 48,843,000 at the beginning of the period[13] - As of December 31, 2018, Ms. Xie holds 750,000,000 shares, representing 75% of the total shares in the company[47] - Mr. Lin, as Ms. Xie's spouse, also holds 750,000,000 shares, equating to 75% of the total shares[48] Corporate Governance - The company has established an audit committee in compliance with GEM Listing Rules, consisting of three independent non-executive directors[57] - The audit committee reviewed the unaudited consolidated results for the three months ended December 31, 2018[60] - There were no disclosures of interests or short positions in shares or debentures of the company by directors or senior management as of December 31, 2018[50] - No major shareholders or other individuals disclosed interests in the company's shares or related shares as of December 31, 2018[54] - The compliance advisor reported no interests in the company's equity by itself or its close associates as of December 31, 2018[56] Other Information - The company did not declare any dividends for the three months ended December 31, 2018, consistent with the same period in 2017[26] - Other operating expenses for the three months ended December 31, 2018, were approximately HKD 0.8 million, compared to HKD 0.3 million for the same period in 2017[36] - The number of M&A transactions in Hong Kong decreased by approximately 19.6% to about 131 transactions from 163 transactions in the same period of 2017[30] - The company has no significant investments as of December 31, 2018[39] - The company did not purchase, sell, or redeem any of its listed securities during the period[55] - The company has not engaged in any transactions that would constitute competition with its business during the period[47] - No significant contracts were established by directors or their close associates that would impact the group's business during the period[43]