Financial Performance - For the nine months ended September 30, 2022, the Group reported revenue of HK$41,662,304, a decrease of 7.3% compared to HK$42,839,032 for the same period in 2021[7]. - The Group incurred a loss from operations of HK$1,426,705 for the nine months ended September 30, 2022, compared to a profit of HK$1,079,588 in the same period of 2021[7]. - The loss before tax for the nine months ended September 30, 2022, was HK$1,932,913, a significant decline from a profit of HK$391,650 in the corresponding period of 2021[7]. - The total comprehensive loss attributable to the owners of the Company for the period was HK$692,374, compared to a profit of HK$7,739,220 in the same period of 2021[7]. - Basic loss per share for the nine months ended September 30, 2022, was HK$0.02, compared to earnings of HK$1.35 per share in the same period of 2021[7]. - The Group reported a net loss before tax of HK$12,973,643 for the three months ended September 30, 2022, compared to a loss of HK$79,872,882 in the same period of 2021[30]. - The Group recorded an unaudited consolidated loss attributable to owners of approximately HK$0.69 million for the Review Period, significantly improved from a loss of approximately HK$7.74 million in the corresponding period in 2021, primarily due to a significant decrease in income tax expense[79]. Expenses and Costs - The Group's administrative expenses for the nine months ended September 30, 2022, amounted to HK$10,237,725, slightly improved from HK$10,942,619 in the same period of 2021[7]. - The Group's other operating expenses for the nine months ended September 30, 2022, totaled HK$15,535,506, compared to HK$8,203,463 in the same period of 2021[7]. - The total finance costs for the three months ended September 30, 2022, were HK$105,869, while for the nine months, they were HK$506,208, compared to HK$229,559 and HK$687,938 in 2021, respectively[27]. - Finance costs for the Review Period were recorded at approximately HK$0.51 million, compared to approximately HK$0.69 million for the same period in 2021, reflecting a decrease in interest expenses[79]. - Other operating expenses decreased to approximately HK$8.20 million for the Review Period, down from approximately HK$11.91 million in the corresponding period in 2021, mainly due to a reduction in legal and professional fees and debt recovery agency service fees[77][78]. Impairment and Recovery - The Group recognized an impairment loss on loans receivables of HK$20,418,495 for the nine months ended September 30, 2022, compared to HK$16,023,473 in the same period of 2021[7]. - The impairment loss on loans receivables for the nine months ended September 30, 2022, was HK$5,282,699, compared to HK$5,384,976 in 2021, indicating a slight improvement[30]. - The increase in reversal of impairment loss was mainly due to recovery of impairment allowances and significant improvement in bad debt control[72]. - The Group performs collective assessment on impairment allowance for loans receivables at least quarterly, based on loan types and their credit risk characteristics[72]. Share Trading and Corporate Governance - As of the date of approval of these financial statements, the trading of shares of the Company remains suspended[12]. - Trading in the shares of the Company has been suspended since November 24, 2017, and will remain suspended until further notice[92]. - The Company is actively communicating with the Securities and Futures Commission (SFC) to address concerns and aims to resume trading of its shares as soon as possible, with the resumption application still pending[94]. - The audit committee consists of four independent non-executive directors, ensuring compliance with applicable accounting standards and GEM listing rules[97]. - The financial information presented has been reviewed and deemed to meet legal requirements and adequate disclosure standards[97]. Operational Environment and Strategy - The company continues to focus on money lending, providing both secured and unsecured loans, despite challenges posed by the COVID-19 pandemic[46]. - The operational environment has been significantly impacted by the fifth wave of COVID-19, affecting customer repayment capabilities[47]. - Most loan applications were processed online during the review period to ensure safety amid the pandemic[48]. - The company is committed to maintaining a prudent approach in loan assessments and monitoring repayment performance closely[48]. - The company is exploring further investment opportunities in listed securities, bonds, and debt instruments, considering market conditions[50]. - The company is actively controlling expenses through budget measures to mitigate the financial impact of the pandemic[49]. Other Income and Grants - Interest income from credit-impaired loans for the nine months ended September 30, 2022, was HK$29,272,326, a decrease of 4.9% from HK$30,771,356 in 2021[19]. - Government grants received amounted to HK$312,800 for the three months ended September 30, 2022, and HK$496,800 for the nine months, with no grants reported in the same periods of 2021[23]. - The Group's total other income for the nine months ended September 30, 2022, was HK$559,682, an increase from HK$425,410 in 2021[23]. - Other income increased from approximately HK$0.43 million to approximately HK$0.56 million, mainly due to government grants received under the Employment Support Scheme[61].

Financial Performance - Revenue for the six months ended June 30, 2022, was HK$27,783,595, a slight increase of 1.25% compared to HK$27,438,408 in the same period of 2021[19]. - Profit before tax for the six months ended June 30, 2022, was HK$11,691,394, compared to a profit of HK$1,254,584 in the same period of 2021[19]. - For the six months ended June 30, 2022, the total comprehensive income was HK$10,391,558, compared to a total comprehensive expense of HK$56,874,902 for the same period in 2021[25]. - The Group reported a net loss of HK$19,844,422 from financial assets at fair value through profit or loss (FVTPL) for the three months ended 30 June 2022[44]. - The Group recorded an unaudited consolidated profit attributable to owners of approximately HK$10.39 million for the Review Period, a significant improvement from a loss of approximately HK$56.87 million for the six months ended 30 June 2021[158]. Assets and Liabilities - Total non-current assets decreased to HK$283,414,544 as of June 30, 2022, from HK$311,171,195 as of December 31, 2021, representing a decline of approximately 8.9%[22]. - Current assets increased to HK$193,141,915 as of June 30, 2022, compared to HK$160,956,695 as of December 31, 2021, reflecting an increase of about 19.9%[22]. - Total equity as of June 30, 2022, was HK$470,223,939, an increase from HK$459,832,381 as of December 31, 2021, showing a rise of about 2.5%[22]. - The Company reported a retained loss of HK$(313,730,008) as of June 30, 2022, compared to a retained loss of HK$(349,459,498) as of June 30, 2021[25]. - As of June 30, 2022, cash and cash equivalents at the end of the period were HK$14,571,193, down from HK$15,066,117 at the end of June 30, 2021[28]. Operational Efficiency - The company has achieved a 30% reduction in operational costs through efficiency improvements and strategic partnerships[9]. - Administrative expenses for the six months ended June 30, 2022, were HK$6,576,896, a decrease from HK$7,879,535 in the same period of 2021[19]. - The Group's total interest expenses for the six months ended June 30, 2022 were HK$400,339, down from HK$458,379 in 2021, indicating a reduction of 12.7%[46]. - The Group recorded a reversal of impairment loss on loans receivables of approximately HK$33.39 million, a significant decrease from a net impairment loss of approximately HK$63.85 million in the corresponding period of 2021[147]. Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[9]. - Market expansion efforts include targeting Southeast Asia, with an expected increase in market share by 10% within the next two years[9]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market presence, with a focus on companies in the fintech sector[9]. - A new product line is set to launch in Q4 2022, anticipated to contribute an additional $2 million in revenue[9]. Corporate Governance - The Company is committed to high standards of corporate governance, complying with all code provisions of the Corporate Governance Code except for specific provisions related to the chairman's role[187]. - The position of the chairman of the Board has remained vacant since the passing of the former chairman on March 9, 2020[187]. - The Board of Directors is composed of experienced members who can make significant decisions collectively, ensuring effective and efficient operations despite the absence of a Chairman[189]. Market Conditions - The ongoing COVID-19 pandemic has negatively impacted customer repayment and reduced customer visits, leading to uncertainties in business performance[132]. - The Group continues to focus on conducting money lending business, providing both secured and unsecured loans to individuals, corporations, and foreign domestic workers[131]. - The Group has implemented measures to maintain hygiene standards and has processed most loan applications online during the Review Period[133]. Share Trading and Compliance - The trading of the Company's shares remains suspended as of the date of the financial statements approval[31]. - The trading of the Company's shares has been suspended since November 24, 2017, and will remain suspended until further notice[200]. - The Company continues to communicate with the Securities and Futures Commission (SFC) to address concerns and aims for a resumption of trading as soon as possible[200].

Financial Performance - Revenue for the three months ended March 31, 2022, was HK$14,455,165, representing an increase of 11.4% compared to HK$12,981,842 for the same period in 2021[9] - Loss before tax for the period was HK$1,939,022, significantly reduced from a loss of HK$54,426,801 in the previous year, indicating improved financial performance[9] - The loss attributable to owners of the Company for the period was HK$1,327,808, a substantial improvement from HK$56,302,524 in the prior year[9] - Basic and diluted loss per share for the period was HK$0.04, compared to HK$1.55 in the same period last year, reflecting a significant reduction in losses per share[9] - The total comprehensive expense for the period ended March 31, 2022 was HK$1,327,809, compared to HK$56,302,524 for the same period in 2021, indicating a substantial decrease in overall losses[42] - The consolidated loss attributable to owners of the Company was approximately HK$1.33 million for the Review Period, significantly reduced from approximately HK$56.30 million for the same period in 2021[70] Asset Quality and Impairment - Impairment loss on loans receivables, net, was HK$7,642,499, a significant decrease from HK$52,865,407 in the same period last year, indicating improved asset quality[9] - The impairment loss on loans receivables for the three months ended March 31, 2022 was HK$7,642,499, significantly lower than HK$52,865,407 for the same period in 2021, reflecting improved asset quality[30] - The Group performs collective assessments on impairment allowances for loans receivables at least quarterly, categorizing loans by type to calculate expected credit losses (ECL)[65] - Individual assessments for impairment allowances are conducted monthly, considering factors such as expected recovery dates and the fair value of collateral[66] - The Group's effective risk management measures contributed to the significant decrease in impairment loss on loans receivables during the Review Period[65] - The assessment of impairment allowances incorporates forward-looking information, including economic conditions and expected unemployment rates[64] - The Group's approach to impairment assessment includes using a Markov Chain Model to estimate probabilities of default and loss given default[65] Expenses and Cost Management - Administrative expenses decreased to HK$3,222,863 from HK$4,399,177, showing a reduction of approximately 26.7%[9] - Other operating expenses decreased to approximately HK$4.22 million from approximately HK$6.13 million for the three months ended March 31, 2021, mainly due to a reduction in service fees of debt recovery agencies[70] - Total finance costs for the three months ended March 31, 2022 amounted to HK$208,397, a decrease from HK$229,413 in the same period of 2021[27] - Interest on bond payable decreased to HK$177,534 for the three months ended March 31, 2022, down from HK$197,260 in the same period of 2021[27] - The Group's finance costs remained stable at approximately HK$0.21 million for the Review Period, compared to approximately HK$0.23 million for the three months ended March 31, 2021[70] Revenue Sources - Interest income from credit-impaired loans receivables amounted to HK$9,505,808 for the three months ended March 31, 2022, compared to HK$8,958,831 in 2021, reflecting a year-over-year increase of 6.1%[20] - For the three months ended 31 March 2022, the Group's revenue increased to approximately HK$14.46 million, up from approximately HK$12.98 million for the same period in 2021, primarily due to an increase in overdue interest from loans receivables[51] - Revenue from past due loans less than 3 months was approximately HK$0.65 million, while revenue from loans overdue for more than 3 months but not impaired was approximately HK$1.45 million during the Review Period[51] Compliance and Governance - The financial results were prepared in accordance with applicable Hong Kong Financial Reporting Standards and GEM Listing Rules, ensuring compliance and accuracy[14] - The Group has adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2022, with no significant impact on the financial statements[15] - The audit committee comprises four independent non-executive Directors, and the financial information has been reviewed for compliance with applicable accounting standards[94] Strategic Focus and Future Outlook - The Company continues to focus on improving operational efficiency and reducing costs to enhance profitability in future periods[9] - The Group will continue to adopt prudent approaches in loan assessment and approval processes to maintain its loan portfolio amidst challenging market conditions[51] - The Group expects that the ongoing COVID-19 pandemic may continue to adversely impact loan demand and market risks in the short term[47] - The Group will closely monitor its capital base to ensure sufficient funding for capturing potential opportunities in the competitive money lending industry[51] - The Group's risk management measures will be continuously evaluated to ensure a proper balance between return and risk in the long run[47] Shareholder and Director Information - As of March 31, 2022, no Directors or chief executives had any interests or short positions in the shares of the Company[78] - As of March 31, 2022, the Company did not have a share option scheme[87] - During the review period, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[87] - The Company has been under a trading suspension since November 24, 2017, as directed by the Securities and Futures Commission[89] - The Company's application for trade resumption is still pending, with no concrete timeframe provided at this stage[90] - The Company confirmed that there were no competing interests among the Directors and their close associates during the review period[87] - The Company did not have any controlling shareholder during the review period, eliminating issues of competing interests from controlling shareholders[87]

Financial Performance - The company's revenue for 2021 was HKD 210.95 million, representing a 41% increase compared to the previous year[2]. - The Group's revenue for the year ended December 31, 2021, was approximately HK$60.24 million, representing an increase of approximately 58.46% from HK$38.02 million in 2020[54]. - The increase in revenue was mainly due to the rise in accrued interest from credit-impaired loans receivables during the year[54]. - The revenue from unsecured loans totaled HK$57.01 million in 2021, up from HK$32.32 million in 2020[57]. - The Group recorded a consolidated loss attributable to owners of approximately HK$31.54 million for the year ended December 31, 2021, a significant decrease from approximately HK$367.61 million for the year ended 31 December 2020[100]. Assets and Liabilities - The total assets of the company amounted to HKD 149.16 million as of the end of 2021[2]. - As of December 31, 2021, the Group's bank and cash balances were approximately HK$23.43 million, indicating sufficient funds to maintain operations under the current economic environment[45]. - The Group's net current assets amounted to approximately HK$149.32 million as of December 31, 2021, down from approximately HK$237.71 million as of December 31, 2020, with a current ratio of approximately 13.84 times[105]. - The Group recorded a net cash position of approximately HK$11.13 million as of December 31, 2021, compared to a net debt of approximately HK$2.20 million as of December 31, 2020, resulting in no gearing ratio as of December 31, 2021[113]. Risk Management - The adverse financial and economic conditions caused by the COVID-19 pandemic have negatively impacted the repayment ability of the Group's customers, which may continue to affect business performance in the short term[45]. - The Group will continue to evaluate its risk management measures to ensure a proper balance between return and risk in the long run[45]. - The Group's credit risk assessments included identity checks and financial background checks on borrowers, ensuring satisfaction with their creditworthiness and repayment ability[84]. - The Group will continue to monitor the credit risk of loans receivables and adjust credit assessments as necessary[54]. Corporate Governance - The Company has complied with GEM Listing Rules, ensuring at least three independent non-executive Directors, representing at least one-third of the Board[128]. - The Board is responsible for the strategic development of the Company, aiming to maximize long-term shareholder value while balancing broader stakeholder interests[128]. - The audit committee is chaired by Mr. Choy Sze Chung Jojo, ensuring oversight of financial reporting[37]. - The Company confirmed compliance with the CG Code provisions regarding director training and development during the review year[155]. Operational Changes - Most loan applications have been processed online during the year under review, reflecting a shift in operational practices due to the pandemic[45]. - The Group has implemented various budget control measures to manage expenses in response to the negative impacts of COVID-19[47]. - The Group has taken extra care to raise hygiene standards in its premises to protect the health of customers and employees[45]. Board Composition and Meetings - The Company has five independent non-executive directors, each appointed for a term of two years[143]. - Regular board meetings are scheduled quarterly, with at least 14 days' notice provided to directors[144]. - The audit committee held four meetings during the year ended December 31, 2021, with all members attending all meetings[159]. - The nomination committee held two meetings during the year ended December 31, 2021, with all members attending both meetings[165]. Financial Management - The Group's average loan balance decreased from approximately HK$941.11 million as of December 31, 2020, to approximately HK$834.50 million as of December 31, 2021, representing a decline of about 11.3%[45]. - The Group recorded a reversal of impairment loss on loans receivables of approximately HK$10.81 million for the year ended December 31, 2021, compared to a net impairment loss of approximately HK$360.19 million for the corresponding period in 2020[74]. - The Group's total impairment loss on loans receivables for the year was recorded at a net amount of HK$10.81 million, a significant reduction compared to the previous year[90]. Compliance and Regulations - The compliance committee is responsible for ensuring the Group's compliance with relevant laws and regulations, including the Money Lenders Ordinance and GEM Listing Rules[182][187]. - The compliance committee identified no material compliance issues during the review year and made several recommendations to the Board and management[194]. - The Company has acted and will continue to act on the recommendations of the compliance committee[194].

Revenue and Financial Performance - Revenue for the nine months ended September 30, 2021, was HK$42,839,032, representing an increase of 65% compared to HK$25,946,071 for the same period in 2020[8]. - Interest income from loan facilities amounted to HK$42,839,032, up from HK$25,946,071 in 2020, with credit-impaired loans contributing HK$30,771,356[13][17]. - The profit before tax for the period was HK$391,650, a turnaround from a loss of HK$198,945,602 in 2020[8]. - Basic loss per share improved to HK$0.21 from HK$5.88 in 2020, reflecting better financial performance[8]. - The total comprehensive loss for the period ended September 30, 2021, was HK$7,739,220, compared to a total comprehensive loss of HK$213,354,848 for the same period in 2020[41]. - The Group recorded a consolidated loss attributable to owners of the Company of approximately HK$7.74 million for the Review Period, significantly reduced from approximately HK$213.35 million for the same period in 2020[92]. - The Group's overall financial performance improved due to increased revenue and a significant decrease in impairment losses during the Review Period[92]. Expenses and Cost Management - Other income decreased significantly to HK$425,410 from HK$1,944,107 in the previous year, primarily due to the absence of government subsidy income in 2021[20]. - Administrative expenses were reduced to HK$10,942,619 from HK$20,087,993, indicating a cost control strategy[8]. - Other operating expenses increased to approximately HK$11.91 million for the Review Period, compared to approximately HK$6.56 million for the nine months ended September 30, 2020, primarily due to increased service fees for debt recovery agencies and legal fees[88]. - Total finance costs for the nine months ended September 30, 2021, amounted to HK$687,938, compared to HK$233,029 in 2020, reflecting an increase of approximately 195%[27]. - The increase in finance costs was primarily due to interest expenses on lease liabilities and consideration payable[92]. Impairment and Credit Risk Management - The Group experienced a reversal of impairment loss on loans receivables of approximately HK$16.02 million, a significant improvement compared to a net impairment loss of approximately HK$197.18 million for the same period in 2020[78]. - The Group's impairment loss on loans receivables significantly decreased during the Review Period due to effective bad debt control policies[81]. - The Group conducts collective assessments of impairment provisions for receivables at least quarterly, categorizing loans by type and calculating expected credit losses based on historical repayment performance and forward-looking data[82]. - The Group performs independent monthly assessments of impairment provisions for receivables, considering expected recovery dates and the fair value of collateral[82]. Shareholder and Market Information - The Group did not recommend any dividend payment to shareholders for the nine months ended September 30, 2021, consistent with the previous year[36]. - As of September 30, 2021, Xiao Guoliang held 1,070,400,000 ordinary shares, representing approximately 29.50% of the Company's issued share capital[99]. - The maximum number of ordinary shares that may be issued under the Share Option Scheme is 362,880,000 shares, representing 10% of the issued ordinary shares of the Company as of the report date[103]. - No share options have been granted under the Share Option Scheme since its adoption on November 24, 2011[103]. - Trading in the shares of the Company has been suspended since November 24, 2017, and will remain suspended until further notice[113]. - The Company is actively communicating with the Securities and Futures Commission (SFC) to address concerns and aims for a resumption of trading as soon as possible[116]. - The Company's trade resumption application is still pending, and no concrete resumption timeframe can be provided at this stage[116]. Future Strategies and Market Opportunities - The Group continues to focus on enhancing its loan facilities and managing credit risks effectively to improve financial outcomes[8]. - Future strategies may include exploring new market opportunities and potential product innovations to drive growth[8]. - The Group is actively exploring further potential investment opportunities, including bonds and listed equity securities, to maximize shareholder value[4]. - The Group will continue to monitor its capital base to ensure sufficient funding for capturing different potential opportunities in the market[4]. - The Group's focus remains on maintaining revenue growth and credit quality in the competitive money lending industry[4]. Compliance and Governance - The Group has adopted all relevant amended Hong Kong Financial Reporting Standards effective from January 1, 2021, with no significant impact on the financial statements[12]. - The Audit Committee, comprising four independent non-executive Directors, has reviewed the Group's unaudited condensed consolidated results for the Review Period[118]. - The Board believes that the preparation of financial information complies with applicable accounting standards and GEM Listing Rules[118]. - The Company did not have any controlling shareholder during the Review Period, thus no competing interests were reported[110]. - The Company has not disclosed any new product or technology developments, market expansions, or mergers during the Review Period[110].

Financial Performance - The interim financial report for First Credit Finance Group Limited shows a total revenue of 26,465.54 million for the period ending June 30, 2021[1]. - Revenue for the six months ended June 30, 2021, was HK$27,438,408, representing a 30.2% increase from HK$21,066,098 in the same period of 2020[19]. - Profit before tax for the six months ended June 30, 2021, was HK$1,254,584, compared to a loss of HK$53,172,217 in the same period of 2020[19]. - Loss attributable to owners of the Company for the period was HK$56,874,902, a significant improvement from a loss of HK$159,584,965 in the prior year[19]. - The Group reported a profit before tax of HK$10,984,002 for the six months ended June 30, 2021, compared to a loss of HK$159,416,918 in 2020[57]. - The unaudited consolidated loss attributable to owners of the Company was approximately HK$56.87 million for the Review Period, a decrease from approximately HK$159.58 million for the same period in 2020[134]. Assets and Liabilities - Total non-current assets as of June 30, 2021, amounted to HK$268,874,482, an increase from HK$256,269,234 as of December 31, 2020[22]. - Current assets decreased to HK$181,696,902 as of June 30, 2021, down from HK$252,247,435 at the end of 2020[22]. - Net current assets were HK$167,533,889, a decrease from HK$237,709,673 at the end of 2020[22]. - Total equity as of June 30, 2021, was HK$435,068,449, down from HK$491,943,351 at the end of 2020[22]. - Total loans receivables amounted to HK$956,835,935 as of June 30, 2021, a decrease from HK$966,628,879 as of December 31, 2020[71]. - The impairment allowance on individual assessment increased to HK$441,053,690 as of June 30, 2021, compared to HK$360,257,902 as of December 31, 2020[71]. Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2021, was HK$20,246,853, a significant increase from HK$3,241,857 in the same period of 2020[29]. - Net cash used in investing activities was HK$18,049,091, compared to HK$492,970 in the prior year, indicating increased investment activity[29]. - Cash and cash equivalents at the end of the period were HK$15,066,117, down from HK$16,877,964 at the end of the previous period[29]. - The net increase in cash and cash equivalents for the six months was HK$688,162, contrasting with a decrease of HK$203,926 in the same period of 2020[29]. Corporate Governance - The directors of the company accept full responsibility for the accuracy and completeness of the information provided in the report[5]. - The Company has complied with all code provisions of the Corporate Governance Code except for A.2.1 to A.2.9 due to the vacancy of the chairman position[168]. - The Board received adequate information and relevant documents before meetings, ensuring informed discussions and prompt decision-making[169]. - The Company is committed to maintaining high standards of corporate governance to safeguard shareholders' interests[168]. Market and Investment Risks - The company acknowledges the higher investment risks associated with small and mid-sized companies listed on GEM, which may lead to increased market volatility[2]. - There is no assurance of a liquid market for securities traded on GEM, highlighting potential challenges for investors[3]. - The Group is actively exploring potential investment opportunities, including bonds and equity securities, to maximize shareholder value[102]. - The Group will continue to monitor its capital base to ensure sufficient funding for various potential opportunities[102]. Operational Highlights - The report does not disclose any new product developments or technological advancements during the reporting period[1]. - There are no mentions of market expansion or mergers and acquisitions in the interim report[1]. - The company has not provided specific future outlook or performance guidance in the available content[1]. - The company maintained strict control over outstanding loans receivables to minimize credit risk, with overdue balances regularly reviewed by management[73]. Shareholder Information - The Group's issued and fully paid share capital consisted of 3,628,800,000 ordinary shares at HK$0.02 each as of June 30, 2021[90]. - The maximum number of ordinary shares that may be issued under the Share Option Scheme is 362,880,000, representing 10% of the issued ordinary shares as of the report date[167]. - No share options have been granted under the Share Option Scheme since its adoption on November 24, 2011[167]. - The Company has not purchased, sold, or redeemed any of its listed securities during the Review Period[167]. Trading Status - The Company has been suspended from trading since November 24, 2017, under the direction of the Securities and Futures Commission of Hong Kong and will remain suspended until further notice[187]. - The Company continues to communicate with the SFC to address concerns and aims for a resumption of trading as soon as possible, with the resumption application still pending[190].

Financial Performance - Revenue for the three months ended March 31, 2021, was HK$12,981,842, a decrease of 8% compared to HK$14,095,207 for the same period in 2020[9] - The Group reported a loss before tax of HK$54,426,801, compared to a loss of HK$17,309,701 in the previous year, indicating a significant increase in losses[9] - The loss attributable to owners of the Company for the period was HK$56,302,524, compared to HK$14,225,550 in the previous year[9] - Basic loss per share for the period was HK$1.55, compared to HK$0.39 for the same period in 2020[9] - The total comprehensive loss for the period ended 31 March 2021 was HK$56,302,524, contributing to a retained loss of HK$348,887,120 as of the same date[50] - The consolidated loss attributable to owners of the Company for the Review Period was approximately HK$56.30 million, compared to approximately HK$14.23 million for the same period in 2020, driven by increased impairment losses and operating expenses[81] Impairment and Losses - Impairment loss on loans receivables, net, was HK$52,865,407, which is more than double the HK$23,199,905 reported in the same period last year[9] - The impairment loss on loans receivables, net, was HK$52,865,407 for the three months ended 31 March 2021, significantly higher than HK$23,199,905 in the same period of 2020[35] - The Group recorded an impairment loss on loans receivables of approximately HK$52.87 million for the Review Period, a significant increase from approximately HK$23.20 million for the corresponding period in 2020, reflecting a rise in overdue loans[68] - The significant increase in impairment loss is attributed to a rise in overdue loans and uncertainty in repayment performance from certain customers[74] - The COVID-19 pandemic has led to a significant increase in credit risk, contributing to the rise in impairment losses on loans receivables during the Review Period[74] Expenses and Costs - Administrative expenses decreased to HK$4,399,177 from HK$6,344,189, reflecting a reduction of approximately 30.7%[9] - Interest expenses on bond payable amounted to HK$197,260 for the three months ended 31 March 2021, with total finance costs reaching HK$229,413, compared to HK$20,611 in the previous year[29] - Other operating expenses increased to approximately HK$6.13 million for the Review Period, compared to approximately HK$1.84 million for the three months ended 31 March 2020, primarily due to higher debt recovery agency service fees and legal fees[78] - Finance costs rose to approximately HK$0.23 million for the Review Period, up from approximately HK$0.02 million for the three months ended 31 March 2020, mainly due to interest expenses on consideration payable and a one-year bond issued by a subsidiary[80] Shareholder Information - Xiao Guoliang holds 1,070,400,000 ordinary shares, representing 29.50% of the company's issued share capital[92] - Ng Kam Lung Volais holds 1,013,040,000 ordinary shares, representing 27.92% of the company's issued share capital[92] - The maximum number of ordinary shares that may be issued under the Share Option Scheme is 362,880,000, which is 10% of the issued ordinary shares as of the report date[97] - No share options have been granted under the Share Option Scheme since its adoption on November 24, 2011[100] - The company did not purchase, sell, or redeem any of its listed securities during the review period[98] - Trading in the company's shares has been suspended since November 24, 2017, and will remain suspended until further notice[110] - The company has made further submissions to the SFC on April 13, 2021, regarding the resumption of trading[110] Corporate Governance - The audit committee comprises four independent non-executive directors and has reviewed the unaudited condensed consolidated results for the review period[113] - The company confirms that there are no competing interests among directors or their close associates during the review period[106] - The company has no controlling shareholder, thus no issues of competing interests from controlling shareholders[106] Market Conditions and Strategy - The Company continues to face high market volatility risks associated with being listed on the GEM of the Stock Exchange[4] - The Group expects that the challenging economic environment due to COVID-19 may continue to affect loan demand and lending risks in the short term[55] - The Group aims to maintain revenue growth and credit quality while ensuring a proper balance between return and risk in the long run[55] - The Group will explore further potential investment opportunities in various financial instruments, including bonds and equity securities, to maximize shareholder value[55] - The Group will maintain a prudent approach in loan assessment and approval processes to safeguard its loan portfolio[55] - The Group will keep monitoring the repayment performance of its loan portfolio and evaluate the repayment ability of its customers[55] Financial Reporting Standards - The Group has adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2021, with no significant impact on the financial statements[17] Credit Risk Management - The Group will continue to monitor credit risk and modify its credit assessments and control measures as necessary to manage loan receivables[58] - The Group performs collective assessments on impairment allowances for loans receivables at least quarterly, using a provision matrix based on loan types and their credit risk characteristics[72] - Individual assessments for impairment allowances are conducted monthly, considering factors such as expected recovery dates and the fair value of collateral[73] - The measurement of impairment allowances considers the probability of default and loss given default, adjusted for economic conditions and expected unemployment rates[72]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $XX million, representing a YY% growth compared to the previous year[1]. - Revenue for the year ended December 31, 2020, was approximately HK$38.02 million, representing a decrease of approximately 57.23% from HK$88.88 million for the year ended December 31, 2019[24]. - The Group's total loans decreased from approximately HK$88.88 million in 2019 to approximately HK$38.02 million in 2020, representing a decline of about 57.25%[31]. - The Group recorded a consolidated loss attributable to owners of approximately HK$367.61 million for the year ended 31 December 2020, a significant increase from a loss of approximately HK$132.89 million in 2019[80]. - Other income increased significantly from approximately HK$0.04 million in 2019 to approximately HK$1.94 million in 2020, primarily due to government subsidies received under the Employment Support Scheme[43]. User Engagement - User data showed an increase in active users, reaching a total of ZZ million, which is an increase of AA% year-over-year[2]. - Customer satisfaction ratings improved, with a reported increase of GG% in positive feedback from users[8]. Strategic Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of BB% driven by new product launches and market expansion strategies[3]. - The company is planning to expand its market presence in the Asia-Pacific region, targeting a market share increase of DD% over the next two years[5]. - A strategic acquisition was announced, which is expected to contribute an additional EE million in annual revenue starting next year[6]. Operational Efficiency - The company has implemented new strategies to improve operational efficiency, aiming for a reduction in costs by FF%[7]. - Investment in new technology development increased by CC%, focusing on enhancing service efficiency and customer experience[4]. Risk Management - The Group will continue to monitor credit risk and modify credit assessments and control measures as necessary[26]. - The Group actively monitors loan repayment status and has enhanced collection procedures, especially during the COVID-19 pandemic[63][64]. - Credit risk assessments are conducted before each loan is advanced, considering various factors including the borrower's financial background and repayment ability[61][62]. Compliance and Governance - The management emphasized the importance of maintaining compliance with regulatory standards, ensuring a robust governance framework[10]. - The Company has complied with all provisions of the Corporate Governance Code except for specific deviations noted in the report[107]. - The Company ensures compliance with GEM Listing Rules through the Company Secretary and provides access to independent professional advice for Directors[115]. Board Structure and Meetings - The Company has a balanced composition of executive and non-executive Directors, with at least three independent non-executive Directors[112]. - The total number of board meetings held during the year ended 31 December 2020 was 9, with 1 general meeting[139]. - The audit committee held 4 meetings during the year ended 31 December 2020, with all members attending all meetings[150]. Employee Management - The Group employed a total of 31 staff as of December 31, 2020, down from 43 staff in 2019, with total employee remuneration of approximately HK$15.88 million[89]. - Employment expenses within administrative costs decreased from approximately HK$17.42 million in 2019 to approximately HK$16.21 million in 2020, reflecting a decline of about 6.93%[47]. Financial Health - The Group's bank and cash balances were approximately HK$14.38 million as of December 31, 2020, indicating sufficient funds to maintain operations[17]. - The Group's net current assets decreased to approximately HK$237.71 million as of December 31, 2020, compared to approximately HK$668.87 million in 2019, with a current ratio of approximately 17.35 times[86]. - The Group recorded a net debt of approximately HK$2.20 million as of December 31, 2020, compared to net cash of approximately HK$8.19 million in 2019, resulting in a gearing ratio of approximately 0.44%[93].

Financial Performance - For the nine months ended September 30, 2020, the Group reported a revenue of HK$25,946,071, a decrease from HK$67,790,024 in the same period of 2019, representing a decline of approximately 61.8%[9] - The loss before tax for the nine months ended September 30, 2020, was HK$198,945,602, compared to a loss of HK$58,037,175 for the same period in 2019, indicating a significant increase in losses[9] - The total comprehensive loss attributable to owners of the Company for the period was HK$213,354,848, compared to HK$49,899,630 in the previous year, reflecting an increase of approximately 327.5%[9] - Basic loss per share for the nine months ended September 30, 2020, was HK$5.88, compared to HK$1.38 for the same period in 2019, indicating a substantial increase in loss per share[9] - The Group's total comprehensive loss for the period was HK$213,354,848, compared to a loss of HK$49,899,630 for the same period in 2019[49] Income and Expenses - Administrative expenses for the nine months ended September 30, 2020, totaled HK$20,087,993, compared to HK$22,428,594 in the same period of 2019, showing a decrease of approximately 10.4%[9] - Other income for the nine months ended September 30, 2020, was HK$1,944,107, a decrease from HK$38,447 in the same period of 2019[9] - The Group's finance costs for the nine months ended September 30, 2020, were HK$6,557,162, compared to HK$8,105,276 in the same period of 2019, reflecting a decrease of approximately 19.2%[9] - Government subsidy income for the nine months ended September 30, 2020, was HK$1,944,000, significantly higher than no income reported in 2019[22] - The Group's total other income for the nine months ended September 30, 2020, was HK$1,944,107, compared to HK$38,447 in 2019, indicating a substantial increase[22] Impairment and Losses - Impairment loss on loans receivable for the nine months ended September 30, 2020, was HK$20,087,993, compared to HK$22,428,594 in the previous year, indicating a reduction in impairment losses[9] - The impairment loss on loans receivable for the nine months ended September 30, 2020, was HK$11,610,008, compared to HK$11,912,752 for the same period in 2019[32] - The Group recorded an impairment loss on loans receivable of approximately HK$197.18 million, a significant increase from approximately HK$88.58 million for the corresponding period in 2019[82] Shareholder Information - The Group did not recommend any dividend payment to shareholders for the nine months ended September 30, 2020, and 2019[39] - As of September 30, 2020, the maximum number of ordinary shares that may be issued under the Share Option Scheme is 362,880,000, representing 10% of the issued ordinary shares[111] - No share options have been granted under the Share Option Scheme since its adoption on November 24, 2011[114] - The interests of substantial shareholders include Xiao Guoliang with 1,070,400,000 shares (29.50%) and Ng Kam Lung Volais with 1,013,040,000 shares (27.92%) as of September 30, 2020[106] Operational Adjustments - The Group's loan portfolio management will continue to adopt prudent approaches, especially during the loan assessment and approval process, in response to the adverse economic conditions caused by COVID-19[54][58] - The Group will explore potential investment opportunities in bonds, debt instruments, and listed equity securities to maximize shareholder value[56][59] - The Group's capital base will be closely monitored to ensure sufficient funding is maintained for capturing potential opportunities[57][59] - The adverse financial conditions have negatively impacted the repayment ability of the Group's customers, leading to increased lending risks[54] - The Group will continue to implement budget control measures to manage expenses in light of the financial impacts of the COVID-19 pandemic[55] Compliance and Governance - The Group has adopted all amended Hong Kong Financial Reporting Standards relevant to its operations effective from January 1, 2020, with no significant impact on the financial statements[14] - The Audit Committee, comprising four independent non-executive Directors, has reviewed the Group's unaudited condensed consolidated results for the Review Period[123] - The Board believes that the financial information preparation complies with applicable accounting standards and GEM Listing Rules[124] Trading Status - The Company has been suspended from trading since November 24, 2017, and will remain suspended until further notice[121]

Financial Reporting and Compliance - The interim financial information as of June 30, 2020, has been prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" [14] - The report includes the condensed consolidated statement of financial position and the related condensed consolidated statement of profit or loss for the six-month period ended June 30, 2020 [7] - The directors confirm that the information contained in the report is accurate and complete in all material respects [5] - The report is compliant with the GEM Listing Rules of the Stock Exchange of Hong Kong Limited [5] - The independent review report indicates no significant matters that would lead to a belief that the interim financial information is not prepared properly [14] - The report emphasizes the responsibility of the directors for the preparation and presentation of the interim financial information [7] - The review conducted is less extensive than an audit, and therefore does not provide assurance of identifying all significant matters [9] - The report was issued by Elite Partners CPA Limited, certified public accountants in Hong Kong [15] - The review was completed on August 7, 2020, confirming the financial information's compliance with relevant standards [15] Financial Performance - Revenue for the six months ended June 30, 2020, was HK$6,970,891, a decrease from HK$21,066,098 for the same period in 2019, representing a decline of approximately 66.9% [17] - Loss before tax for the six months ended June 30, 2020, was HK$137,212,463, compared to a loss of HK$154,522,164 for the same period in 2019, indicating a slight improvement [17] - Total comprehensive loss attributable to owners of the Company for the period was HK$145,359,415, significantly higher than the loss of HK$17,498,554 in the previous year [17] - Basic loss per share for the six months ended June 30, 2020, was HK$(4.01), compared to HK$(0.48) for the same period in 2019 [17] - The Group reported a loss before tax of HK$159,584,965 for the six months ended June 30, 2020, compared to a loss of HK$13,114,113 for the same period in 2019, indicating a significant increase in losses [69] - Basic loss per share for the six months ended June 30, 2020, was HK$0.044, compared to HK$0.004 for the same period in 2019, reflecting a deterioration in financial performance [69] - The Group recorded a consolidated loss attributable to owners of approximately HK$159.58 million for the Review Period, compared to a loss of approximately HK$13.11 million for the same period in 2019, primarily due to decreased revenue and increased impairment losses [128] Assets and Liabilities - Non-current assets decreased to HK$97,465,204 as of June 30, 2020, down from HK$190,687,579 at the end of 2019, reflecting a reduction of approximately 48.9% [19] - Current assets totaled HK$609,239,432 as of June 30, 2020, a decrease from HK$677,758,975 at the end of 2019, representing a decline of about 10.1% [19] - Net current assets were HK$602,997,321, down from HK$668,867,300 at the end of 2019, indicating a decrease of approximately 9.8% [19] - Total equity as of June 30, 2020, was HK$699,969,914, a decrease from HK$859,554,879 at the end of 2019, reflecting a decline of about 18.6% [21] - Loans receivable decreased significantly to HK$60,466,638 as of June 30, 2020, from HK$151,877,137 at the end of 2019, a reduction of approximately 60.2% [19] - The Group's total loans receivable amounted to HK$951,233,533 as of June 30, 2020, a decrease from HK$966,238,754 as of December 31, 2019 [81] - The total impairment allowance on loans receivable was HK$372,085,738 as of June 30, 2020, compared to HK$216,846,703 as of December 31, 2019, highlighting increased credit risk management efforts [81] Cash Flow and Financing Activities - For the six months ended June 30, 2020, the net cash generated from operating activities was HK$3,241,857, a decrease of 72.5% compared to HK$11,788,516 in the same period of 2019 [25] - The net cash used in investing activities increased to HK$492,970 from HK$158,668, representing a rise of 210.5% year-over-year [25] - The net cash used in financing activities was HK$2,952,813, compared to HK$2,490,967 in 2019, indicating an increase of 18.6% [25] - Cash and cash equivalents at the end of the period decreased to HK$16,877,964 from HK$46,494,629, marking a decline of 63.7% [25] - The cash and cash equivalents at the beginning of the period were HK$17,081,890, indicating a decrease in liquidity over the reporting period [25] - As of June 30, 2020, the Group had bank and cash balances of approximately HK$16.88 million, slightly down from approximately HK$17.08 million as of December 31, 2019 [129] - There was no bank borrowing as of June 30, 2020, and December 31, 2019 [131] Operational Segments - The Group operates in two segments: money lending and securities trading, with the former showing substantial losses during the reporting period [47] - The total revenue for the six months ended June 30, 2020, was HK$21,066,098, while the segment loss for money lending was HK$156,622,469, reflecting a significant operational challenge [43] - Segment loss for the money lending division for the six months ended June 30, 2020, was HK$5,322,009, compared to a loss of HK$4,189,139 in 2019 [50] - Total loss of reportable segments for the six months ended June 30, 2020, was HK$157,441,467, significantly higher than the loss of HK$9,511,148 in the same period of 2019 [52] - Segment assets as of June 30, 2020, were HK$673,517,194, down from HK$829,607,721 as of December 31, 2019 [50] - Segment liabilities as of June 30, 2020, were HK$7,078,744, compared to HK$8,547,366 as of December 31, 2019 [50] Management and Governance - The Group did not recommend any interim dividend for the six months ended June 30, 2020, consistent with the previous year [68] - The Group's management continues to maintain strict control over outstanding loans receivable to minimize credit risk, with overdue balances regularly reviewed [76] - The Group's management believes that no provision for impairment on past due loans was necessary, as these loans are expected to be substantially or fully settled [87] - The Group adopted a staff training and development policy to enhance competitiveness in the financial market [150][151] - The Company has complied with all code provisions of the Corporate Governance Code except for deviations related to the chairman's role due to the passing of the former chairman on March 9, 2020 [171] - The Board has continued to function effectively despite the absence of a chairman, with significant decisions made collectively [172] Market and Economic Conditions - There is a risk associated with investing in companies listed on GEM due to their susceptibility to high market volatility [3] - The adverse financial and economic situation caused by the COVID-19 pandemic is expected to negatively impact the financial position and repayment ability of the Group's customers in the short term [102] - The Group will maintain sufficient funding through various means to capture different potential opportunities in the market [105] - Following the cessation of the Securities Brokerage Business in mid-August 2019, the Group will focus on proprietary investments in listed securities and explore further investment opportunities [104] Employee and Shareholder Information - The total employee remuneration for the six months ended June 30, 2020, was approximately HK$8.23 million, a decrease from approximately HK$9.34 million for the same period in 2019 [143][148] - The Group employed a total of 41 staff as of June 30, 2020, down from 43 staff as of December 31, 2019 [143][148] - The interests of substantial shareholders included Xiao Guoliang with 1,070,400,000 shares (29.50%) and Ng Kam Lung Volais with 1,013,040,000 shares (27.92%) as of June 30, 2020 [156] Trading and Share Information - Trading in the shares of the Company has been suspended since November 24, 2017, and will remain suspended until further notice [184] - The Company has been making efforts to procure a resumption of trading of its shares, with its application still pending as of July 31, 2020 [184] - The issued and fully paid ordinary shares remained at 3,628,800,000 shares with a par value of HK$0.02 each as of June 30, 2020 [92] - The Group's authorized share capital remained at 250,000,000,000 ordinary shares as of June 30, 2020 [92] - The maximum number of ordinary shares that may be issued under the Share Option Scheme is 362,880,000, representing 10% of the issued ordinary shares as of the report date [160] - No share options have been granted under the Share Option Scheme since its adoption on November 24, 2011 [164] - The Company did not purchase, sell, or redeem any of its listed securities during the Review Period [161]