Financial Performance - The company's revenue for the three months ended December 31, 2019, was HKD 9,130,000, a decrease of 40.2% compared to HKD 15,311,000 for the same period in 2018[8]. - For the nine months ended December 31, 2019, the total revenue was HKD 36,918,000, down 26.5% from HKD 50,252,000 in the previous year[8]. - The company reported a loss before tax of HKD 2,590,000 for the three months ended December 31, 2019, compared to a profit of HKD 374,000 in the same period of 2018[8]. - The net loss attributable to owners of the company for the nine months ended December 31, 2019, was HKD 2,554,000, compared to a loss of HKD 605,000 in the previous year[8]. - Basic and diluted loss per share for the three months ended December 31, 2019, was HKD 0.30, compared to earnings of HKD 0.02 per share in the same period of 2018[8]. - Total comprehensive loss for the nine months ended December 31, 2019, was HKD 2,554,000, reflecting a significant increase in losses compared to HKD 605,000 in the same period of 2018[9]. - The company reported a pre-tax loss of HKD 4,082,000 for the nine months ended December 31, 2019, compared to a loss of HKD 1,702,000 for the same period in 2018, indicating a significant increase in losses[21]. - The group recorded a loss of approximately HKD 2.6 million for the nine months ended December 31, 2019, compared to a profit of HKD 4.4 million for the same period in 2018, indicating a significant decline in performance[37]. - The increase in loss was primarily attributed to a decrease in revenue and an increase in other operating expenses after deducting reduced employee costs[37]. Revenue Breakdown - Revenue for the nine months ended December 31, 2019, was approximately HKD 36.9 million, a decrease of about 26.6% from HKD 50.3 million for the same period in 2018[28]. - The revenue breakdown for the nine months ended December 31, 2019, included HKD 28.2 million (76.4%) from the Hong Kong Stock Exchange, HKD 4.8 million (13.0%) from the Singapore Exchange, and HKD 3.9 million (10.6%) from over-the-counter transactions[31]. - The decrease in revenue was primarily due to a reduction in trading volumes on the Hong Kong Stock Exchange and the Singapore Exchange[29]. Employee Costs and Expenses - The company incurred employee costs of HKD 6,880,000 for the three months ended December 31, 2019, down 28.4% from HKD 9,606,000 in the previous year[8]. - Employee costs decreased from approximately HKD 28.9 million for the nine months ended December 31, 2018, to about HKD 21.7 million for the same period in 2019, a reduction of approximately 24.9%[32]. - Other operating expenses increased from approximately HKD 15.4 million for the nine months ended December 31, 2018, to about HKD 15.9 million for the same period in 2019, an increase of approximately 3.2%[33]. Share Capital and Issuance - The company issued 200,000,000 shares at a price of HKD 0.255 per share, raising a total of HKD 51,000,000 before expenses[12]. - As of December 31, 2019, the issued share capital of the company was HKD 8 million, divided into 800,000,000 ordinary shares[42]. - The company’s capital structure remained unchanged since its listing on August 27, 2018, with only ordinary shares issued[41]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules during the nine months ending December 31, 2019[64]. - The audit committee was established on July 30, 2018, and consists of three independent non-executive directors, responsible for reviewing financial information and internal controls[71]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2019[72]. Shareholding Structure - Oasis Green Ventures Limited holds 278,000,000 shares, representing 34.75% of the company's total issued shares[59]. - Jolly Ocean Global Limited, controlled by Liu Mingkang, holds 96,000,000 shares, accounting for 12.00% of the total[59]. - The shareholding structure indicates that Yip Shui Chi Rowena holds an equivalent interest of 278,000,000 shares through her spouse, representing 34.75%[59]. - Dense Jungle Limited holds 54,000,000 shares, which is 6.75% of the total shares[59]. Dividends and Incentives - The company did not declare or propose any dividends for the nine months ended December 31, 2019, consistent with the same period in 2018[23]. - The board decided not to declare an interim dividend for the nine months ended December 31, 2019[52]. - The company adopted a share incentive plan on April 4, 2019, aimed at recognizing and rewarding eligible participants for their contributions to the group's growth and development[68]. - Since the adoption of the share incentive plan, the company has not granted any share rewards under this plan[70]. Operational Issues - The significant loss of approximately HKD 2.7 million was attributed to a major human error transaction recorded by the subsidiary De Riva during the review period[33]. - A significant human error transaction on May 21, 2019, resulted in a loss of approximately HKD 2.7 million due to the execution broker's unfamiliarity with a new system implemented by the Hong Kong Futures Exchange[39]. Other Information - The company has not disclosed any new product developments or market expansion strategies during this reporting period[7]. - There were no significant mergers or acquisitions reported in the current financial period[7]. - The company did not have any significant investments or acquisitions during the review period, nor any major contingent liabilities[44][48]. - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ending December 31, 2019[63]. - The total number of stock options that may be granted under the share option scheme is 80,000,000 shares, which is 10% of the total issued share capital as of the report date[66]. - The company has not granted any stock options under the share option scheme since its adoption[67]. - The company has appointed Red Sun Capital Limited as its compliance advisor, with no reported interests related to the group[62]. - The group maintained a prudent inventory policy and a stable liquidity position, monitoring cash flow daily to meet funding needs and regulatory requirements[40].

2019 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公司帶有 較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方 作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於聯交所主板買賣之證券承受較 大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何 聲明，並明確表示概不就因本報告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失 承擔任何責任。 本報告的資料乃遵照《聯交所GEM證券上巿規則》（「GEM上市規則」）而刊載，旨在提供有關衍匯亞洲 有限公司（「本公司」）的資料；本公司董事（「董事」）願就本報告的資料共同及個別地承擔全部責任。 各董事在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要方面均屬準確 完備，沒有誤導或欺詐成分，且並無遺漏任何事項，足以令致本報告所載任何陳述或本報告產生誤 導。 目錄 | 公司資料 | 2 | | -- ...

Financial Performance - The company's revenue for the three months ended June 30, 2019, was HKD 14,305,000, a decrease of 20.5% compared to HKD 17,873,000 for the same period in 2018[8]. - Total income, including other income and gains, was HKD 14,342,000, down from HKD 17,877,000, reflecting a decline of 20.1% year-over-year[8]. - The company reported a loss before tax of HKD 1,169,000, compared to a profit of HKD 205,000 in the previous year, indicating a significant downturn[8]. - The net loss attributable to owners of the company for the period was HKD 1,152,000, compared to a loss of HKD 209,000 in the same quarter of 2018[8]. - Basic and diluted loss per share was HKD 0.14, compared to HKD 0.03 for the same period last year, representing an increase in loss per share[8]. - The company reported a loss of approximately HKD 1.2 million for the three months ended June 30, 2019, compared to a profit of HKD 3.0 million for the same period in 2018, indicating a significant decline in performance[43]. - Revenue decreased by approximately 20.1%, from HKD 17.9 million in the three months ended June 30, 2018, to HKD 14.3 million in the same period of 2019, primarily due to a reduction in trading volume[35]. - The decline in revenue and the increase in other operating expenses contributed to the overall loss for the period, reflecting the challenging market conditions faced by the company[43]. Operating Expenses - Employee costs decreased to HKD 7,626,000 from HKD 9,413,000, a reduction of 19.0% year-over-year[8]. - Other operating expenses increased to HKD 7,171,000 from HKD 4,966,000, reflecting a rise of 44.5% compared to the previous year[8]. - Employee costs decreased by approximately 19.1%, from HKD 9.4 million in Q2 2018 to HKD 7.6 million in Q2 2019, mainly due to a reduction in bonuses[38]. - Other operating expenses increased by approximately 44.0%, from HKD 5.0 million in Q2 2018 to HKD 7.2 million in Q2 2019, driven by increased erroneous transaction costs and legal fees[39]. - Erroneous transaction costs amounted to approximately HKD 3.2 million in Q2 2019, a significant increase of 464.4% compared to HKD 567,000 in Q2 2018, primarily due to a major trading error[39]. Taxation - The estimated Hong Kong profits tax for the three months ended June 30, 2019, was HKD 17,000, compared to a tax expense of HKD (414,000) in 2018, indicating a turnaround[27]. - The company recorded a tax credit of approximately HKD 17,000 for the three months ended June 30, 2019, compared to a tax expense of approximately HKD 414,000 in the same period of 2018[42]. Share Capital and Equity - The company’s total equity attributable to owners decreased to HKD 85,489,000 as of June 30, 2019, down from HKD 86,641,000 at the beginning of the quarter[9]. - The company's issued share capital as of the report date was HKD 8 million, divided into 800,000,000 ordinary shares with a par value of HKD 0.01 each[48]. - Major shareholders include Oasis Green Ventures Limited and Pacific Asset Limited, each holding 278,000,000 shares, representing 34.75% of the company's equity[64]. - Jolly Ocean Global Limited and its controlling entity, Shengtu Global Investment Limited, each hold 96,000,000 shares, accounting for 12.00% of the total equity[64]. Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[70]. - There are no known competitive interests or conflicts of interest among directors or major shareholders as of June 30, 2019[67]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the three months ending June 30, 2019[78]. Compliance and Reporting - The company adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2019, with no significant impact on financial performance[20]. - The group recognized lease liabilities and corresponding right-of-use assets in accordance with the new accounting standards[19]. - The company did not early adopt any new standards that were not yet effective during the reporting period[20]. - The report will be published on the GEM website and the company's website for at least seven days from the publication date[79]. Employee Information - As of June 30, 2019, the company maintained a strong liquidity position and monitored cash flow daily to meet financial needs and regulatory requirements[46]. - As of June 30, 2019, the company had a total of 33 employees, an increase from 25 employees as of June 30, 2018[57]. Share Incentive Plans - The company injected 88,000,000 shares into the share reserve as part of its share incentive plan to attract and retain qualified participants[10]. - The company has adopted a share award plan on April 4, 2019, aimed at recognizing and rewarding contributions to growth, with no shares awarded under this plan since its adoption[74][76]. - The company has a stock option plan that allows for the issuance of up to 80,000,000 shares, which is 10% of the total issued share capital as of the report date[72]. - No stock options have been granted under the stock option plan since its adoption on July 30, 2018[73]. Other Information - The company continues to operate as an investment holding company, with its main operating subsidiary engaged in securities and futures contract trading[11]. - The company did not declare an interim dividend for the three months ending June 30, 2019[58]. - The company has no capital commitments as of June 30, 2019, and June 30, 2018[49]. - The company has no significant contingent liabilities as of June 30, 2019, and June 30, 2018[54]. - The board is unaware of any significant matters related to the company's business or financial performance after the reporting period[51]. - The company has not purchased, sold, or redeemed any of its listed securities during the three months ending June 30, 2019[69]. - The company has appointed Red Sun Capital Limited as its compliance advisor, with no reported interests related to the group as of June 30, 2019[68]. - The executive directors include Liu Mingyang, Cai Wenhao, Li Diwen, Feng Weiyi, and Wu Yuhui[79]. - The non-executive director is Yu Guodong, and the independent non-executive directors are Wen Xianfu, Ke Yanfeng, and Wu Binglin[79].

Financial Performance - The group's revenue for the fiscal year 2019 was approximately HKD 65.1 million, a decrease of about 15.2% compared to HKD 76.8 million in the fiscal year 2018[10]. - The net profit after tax for the fiscal year 2019 was HKD 0.2 million, down from HKD 4.8 million in the fiscal year 2018[10]. - The adjusted profit for the fiscal year 2019, excluding non-recurring listing expenses, was approximately HKD 5.2 million, a decline of 66.2% from HKD 15.4 million in the fiscal year 2018[10]. - The decrease in revenue was primarily attributed to a reduction in trading volume due to uncertainties surrounding the US-China trade war and rising interest rates in the US[10][17]. - For the fiscal year 2019, the total revenue was approximately HKD 65,148,000, a decrease from HKD 76,759,000 in 2018, representing a decline of about 15.0%[18]. - The net profit for the fiscal year 2019 was approximately HKD 0.2 million, down from HKD 4.8 million in 2018, primarily due to non-recurring listing expenses of about HKD 5.0 million in 2019[23]. Expenses and Costs - Employee costs decreased from approximately HKD 42.0 million in 2018 to about HKD 37.2 million in 2019, a reduction of approximately 11.4%[19]. - Other operating expenses increased from approximately HKD 16.6 million in 2018 to about HKD 21.1 million in 2019, an increase of approximately 27.1%[20]. - The total operating expenses for legal and professional fees rose by approximately 550.0% to HKD 1.3 million in 2019, primarily due to expenses related to the listing[20]. - The depreciation expense increased by approximately 280.1% to HKD 574,000 in 2019, attributed to new office renovations and IT infrastructure improvements[21]. - The income tax expense decreased from approximately HKD 3.0 million in 2018 to about HKD 1.1 million in 2019, a reduction of approximately 63.3%[22]. Financial Health and Ratios - As of March 31, 2019, the current ratio was approximately 18.0 times, significantly up from 4.0 times in 2018, indicating strong financial health[25]. - The interest coverage ratio for 2019 was approximately 44.3 times, down from 206.3 times in 2018, reflecting the impact of listing expenses[25]. - Cash and bank balances increased to approximately HKD 59.1 million in 2019 from HKD 21.4 million in 2018[25]. Business Operations and Strategy - The main business of the group is derivative brokerage, with all revenue generated from commission income for providing these services[14]. - The company aims to leverage its listing status and funds raised to expand its product portfolio and enhance profitability[11]. - The company is preparing to face potential volatile conditions in 2020 due to ongoing macroeconomic risks[11]. - The company has established arrangements with several executing brokers to provide derivative services for listed derivatives on the Singapore Exchange and single stock options on the Hong Kong Stock Exchange[15]. - The company is expanding its market presence in Asia, targeting a 20% increase in market share within the next two years[57]. Employee and Training - The group had a total of 31 employees as of March 31, 2019, an increase from 25 employees as of March 31, 2018[43]. - 43% of female employees and 63% of male employees received training during the year[164]. - 75% of senior management, 69% of middle management, and 30% of other employees participated in training programs[164]. - Average training hours per employee were 3 hours for females and 6 hours for males, with senior management receiving an average of 8 hours[164]. - The employee turnover rate was 8% for males and 43% for females, with a total employee count of 31, including 7 females and 24 males[161]. Governance and Compliance - The board of directors consists of five executive directors, one non-executive director, and three independent non-executive directors, fulfilling the GEM listing rules requirements[86]. - The company has maintained compliance with the corporate governance code since its listing date, ensuring transparency and accountability[83]. - The company has established appropriate policies and practices to promote business growth and effective operation[82]. - The board is responsible for assessing and managing risks associated with achieving strategic objectives, maintaining effective risk management and internal control systems[125]. - The company has established risk management procedures and guidelines, ensuring compliance through annual self-assessments across departments[125]. Environmental and Social Responsibility - Total greenhouse gas emissions for the year amounted to 55 tons of CO2 equivalent, with scope 1 direct emissions at 4 tons, scope 2 indirect emissions at 49 tons, and scope 3 other indirect emissions at 2 tons[154]. - The company generated 1,470 kg of non-hazardous waste, averaging 47.42 kg per employee, while hazardous waste produced was 600 grams, averaging 19.36 grams per employee[154]. - The company has a commitment to environmental protection, complying with local environmental laws and regulations[153]. - The company promotes green office strategies to minimize resource consumption and waste generation[157]. - The company encourages employee participation in charitable activities to foster a supportive community atmosphere[176]. Future Outlook - The company anticipates a revenue growth of 15% for the next fiscal year, projecting total revenues to reach approximately $120 million[55]. - New product launches are expected to contribute an additional $10 million in revenue, with a focus on innovative derivatives products[56]. - A strategic acquisition of a smaller competitor is in progress, which is expected to enhance the company's product offerings and client base[58]. - The company plans to enhance its digital marketing strategies, aiming for a H% increase in customer engagement metrics[68].

Financial Performance - For the three months ended December 31, 2018, the company's revenue was HKD 15,311,000, a decrease of 28.0% compared to HKD 21,268,000 for the same period in 2017[8] - For the nine months ended December 31, 2018, the total revenue was HKD 50,252,000, down 5.5% from HKD 53,134,000 in the previous year[8] - The company reported a pre-tax profit of HKD 374,000 for the three months ended December 31, 2018, compared to a loss of HKD 958,000 in the same period of 2017[8] - The net profit attributable to the owners of the company for the three months ended December 31, 2018, was HKD 131,000, compared to a loss of HKD 1,708,000 in the same period of 2017[8] - Basic and diluted earnings per share for the three months ended December 31, 2018, was HKD 0.02, compared to a loss per share of HKD 0.28 for the same period in 2017[8] - The company reported a loss of approximately HKD 0.6 million for the nine months ended December 31, 2018, compared to a profit of HKD 4.0 million for the same period in 2017, primarily due to non-recurring listing expenses of approximately HKD 5.0 million[34] - Revenue decreased from approximately HKD 53.1 million for the nine months ended December 31, 2017, to approximately HKD 50.3 million for the same period in 2018, representing a decline of about 5.3% attributed to reduced trading volume[27] - The company recorded a total revenue of approximately HKD 50.252 million for the nine months ended December 31, 2018, compared to HKD 53.134 million in 2017[29] Expenses and Costs - The company incurred total operating expenses of HKD 15,447,000 for the nine months ended December 31, 2018, compared to HKD 11,833,000 for the same period in 2017, reflecting a 30.0% increase[8] - The company’s employee costs for the nine months ended December 31, 2018, were HKD 28,870,000, slightly down from HKD 29,145,000 in the previous year[8] - Other operating expenses increased from approximately HKD 11.8 million in 2017 to approximately HKD 15.4 million in 2018, marking an increase of about 30.5% due to rising office rent and professional fees[31] - The operating lease payments for rental properties for the nine months ended December 31, 2018, were HKD 1,546,000, an increase of 114.4% from HKD 722,000 in the same period of 2017[20] - The company’s tax expense decreased by approximately 45% from HKD 2 million in 2017 to HKD 1.1 million in 2018, consistent with the decline in net profit[33] Assets and Capital - The company’s total assets as of December 31, 2018, amounted to HKD 85,871,000, an increase from HKD 38,769,000 as of April 1, 2018[9] - The company had a total issued share capital of HKD 8 million, divided into 800,000,000 ordinary shares with a par value of HKD 0.01 each[38] - The net proceeds from the IPO, after deducting related expenses, amounted to approximately HKD 27.3 million[49] - The net proceeds of approximately HKD 4.6 million from the IPO have been used for office expansion plans[50] Shareholder Information - As of December 31, 2018, Oasis Green Ventures holds 414,000,000 shares, representing 51.75% of the company's equity[57] - Jolly Ocean Global Limited, controlled by Pacific Asset Limited, also holds 96,000,000 shares, accounting for 12.0% of the company's equity[57] - Dense Jungle Limited owns 54,000,000 shares, which is 6.75% of the company's equity[57] - No directors or major shareholders have any competing business interests as of December 31, 2018[60] Corporate Governance - The company has complied with the corporate governance code since its listing on August 27, 2018[63] - The audit committee was established on July 30, 2018, and is composed of three independent non-executive directors[68] - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended December 31, 2018[69] - The company has adopted a share option scheme to encourage contributions from eligible participants[66] - No share options have been granted under the share option scheme since its adoption[67] Other Information - The company completed the acquisition of DLS Capital Limited, which involved issuing shares as part of the transaction[10] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[43] - The company reported no significant contingent liabilities as of December 31, 2018[44] - The company has not made any major investments or capital asset plans beyond those disclosed in the prospectus dated August 14, 2018[42] - The company believes that foreign exchange risk has a minimal impact on its operations, primarily conducted in HKD and USD[45] - The company has not purchased, sold, or redeemed any of its listed securities from the listing date until December 31, 2018[62] - As of December 31, 2018, the company had 29 employees, an increase from 22 employees as of December 31, 2017[47] - No dividends were declared or proposed for the nine months ended December 31, 2018[21] - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from April 1, 2018, with no significant impact on the financial performance and position[13] - The group operates as an investment holding company, with its main operating subsidiary, De Riva, participating in the securities and futures contract trading business[1] - The company was incorporated on November 1, 2017, and its shares were listed on the GEM of the Hong Kong Stock Exchange on August 27, 2018[1] - The functional currency of the group is Hong Kong dollars, consistent with the presentation currency of the financial statements[1] - The group is considered a going concern entity, with no adjustments made to reflect fair value or recognize any new assets or liabilities arising from the reorganization[12]