Financial Performance - The group recorded a net profit of approximately HKD 82.7 million for the year ended December 31, 2021, a significant increase from HKD 5 million in the same period of 2020 [23]. - Total revenue for the year 2021 was HKD 25,862,000, compared to HKD 23,372,000 in 2020, reflecting a growth of approximately 10.7% [19]. - The group reported a net profit of HKD 80,777,000 for the year ended December 31, 2021, compared to a profit of HKD 4,264,000 in the previous year, representing a significant increase of 1,795% [193]. - Gross profit for 2021 was HKD 24,309,000, up from HKD 21,686,000 in 2020, reflecting a gross margin improvement [188]. - Profit before tax surged to HKD 98,027,000 in 2021, compared to HKD 5,820,000 in the previous year, indicating a significant increase in profitability [188]. - Basic and diluted earnings per share for 2021 were HKD 58.04, compared to HKD 3.06 in 2020, showcasing strong earnings growth [188]. - The company reported a significant increase in other income, which rose to HKD 90,698,000 in 2021 from HKD 2,756,000 in 2020 [188]. Assets and Liabilities - The group’s total assets rose to HKD 492,286,000 in 2021, up from HKD 416,137,000 in 2020, representing an increase of about 18.3% [20]. - The group’s equity attributable to owners increased to HKD 353,048,000 in 2021, compared to HKD 263,849,000 in 2020, reflecting a growth of approximately 33.8% [20]. - The total debt amounted to approximately HKD 19,900,000 as of December 31, 2021, down from HKD 29,200,000 in 2020 [53]. - The asset-to-liability ratio was 5.2% as of December 31, 2021, down from 9.7% in 2020 [55]. - Current liabilities decreased to HKD 112,158,000 in 2021 from HKD 128,285,000 in 2020, indicating improved liquidity [189]. - The company maintained a strong cash position with bank balances and cash totaling HKD 123,471,000 as of December 31, 2021 [189]. Revenue Sources - The brokerage service revenue increased to HKD 3,767,000 in 2021 from HKD 2,463,000 in 2020, marking a growth of approximately 53% [35]. - The interest income from loans granted to corporate and individual clients was approximately HKD 6,300,000, accounting for 24.3% of the group's total revenue, down from 44.4% in 2020 [41]. - The company’s interest income decreased to HKD 18,000 in 2021 from HKD 81,000 in 2020, a drop of 78% [197]. Community Engagement and Corporate Social Responsibility - In response to COVID-19, the group distributed KN95 masks to clients and the public, improving its public image [11]. - The company was awarded the "Caring Company" logo by the Hong Kong Council of Social Service for its community and environmental care efforts [11]. - The group participated in various charitable activities, including the "Million Steps" virtual walking event to promote health and raise funds [12]. - Koala Financial Group served as a major sponsor for the "Cookie Sale Campaign" to support elderly care facilities in Hong Kong [13]. - The company reported a charity donation of HKD 480,000 for the year ended December 31, 2021, compared to HKD 450,000 in 2020, representing an increase of approximately 6.67% [123]. Governance and Compliance - The board of directors consists of 5 members, including 2 executive directors and 3 independent non-executive directors [79]. - The company has adopted a code of conduct for securities trading by directors, which complies with GEM Listing Rules [78]. - The company has maintained compliance with the GEM Listing Rules Corporate Governance Code, except for one provision regarding attendance at the annual general meeting [76]. - The independent non-executive directors possess relevant accounting and financial management expertise, ensuring compliance with GEM Listing Rules [87]. - The company has implemented a continuous professional development program for all directors to enhance their knowledge and skills [88]. Risk Management - The group will continue to monitor credit risks and adopt a prudent approach in assessing each loan due to the ongoing economic challenges posed by COVID-19 [27]. - The overall industry outlook remains challenging, but the group is committed to strict risk control and prudent investment strategies to enhance shareholder returns [29]. - The company has established a risk management and internal control system, which was reviewed and deemed effective during the reporting period [104]. Investment and Future Plans - The group aims to allocate resources towards asset management, which is expected to provide stable and diversified income in the long term [29]. - The group plans to enhance its brokerage and margin financing services, which are expected to become a major growth driver, contributing approximately 74.1% of total revenue in 2021 [35]. - The group is actively seeking suitable commercial properties in Hong Kong to expand its investment property portfolio [46].

Financial Performance - Total revenue for the nine months ended September 30, 2021, was HKD 17,046,000, a decrease of 8.4% compared to HKD 18,609,000 in the same period of 2020[4] - Gross profit for the nine months was HKD 15,996,000, down 8.2% from HKD 17,423,000 year-on-year[4] - The company reported a significant increase in profit before tax to HKD 114,543,000 for the nine months, compared to HKD 5,129,000 in the previous year, representing a growth of 2,237%[4] - Net profit attributable to owners for the nine months was HKD 94,753,000, a substantial increase from HKD 3,732,000 in the same period last year, marking a growth of 2,440%[4] - Basic and diluted earnings per share for the nine months were HKD 68.09, compared to HKD 2.68 in the previous year, reflecting a significant increase of 2,440%[4] Revenue Sources - Revenue from securities placement and brokerage services for the nine months was HKD 11,443,000, an increase of 21.5% from HKD 9,419,000 in 2020[14] - The securities brokerage business generated revenue of approximately HKD 11,400,000, an increase of about HKD 2,000,000 from HKD 9,400,000 in the same period of 2020, accounting for 67.1% of the group's total revenue[22] - Interest income from loans receivable decreased to HKD 5,322,000 for the nine months, down 39.5% from HKD 8,726,000 in the previous year[14] - The lending business recorded interest income of approximately HKD 5,300,000, down from HKD 8,700,000 in the same period of 2020, representing 31.2% of the group's total revenue[25] - The rental income from property investment was approximately HKD 300,000, down from HKD 500,000 in the same period of 2020, accounting for 1.6% of the group's total revenue[27] Unrealized Gains - The company recorded unrealized gains on listed securities of HKD 99,430,000 for the nine months, compared to unrealized losses of HKD 8,682,000 in the same period last year[4] - The group reported unrealized gains from listed equity investments of approximately HKD 99,400,000, a significant increase from a loss of HKD 8,700,000 in the same period of 2020[29] - The group held a fair value of approximately HKD 128,200,000 in listed equity investments as of September 30, 2021[26] Expenses and Management - Administrative expenses increased slightly to HKD 10,890,000 for the nine months, compared to HKD 10,671,000 in the previous year, indicating a rise of 2%[4] - The board plans to continue developing existing businesses while actively exploring new business areas and investment opportunities[30] - The group will maintain strict risk control and enhance internal management to provide better returns for shareholders[30] Shareholder Information - As of September 30, 2021, Ms. Huang Jiawen holds 26,533,363 ordinary shares, representing 19.07% of the company's issued share capital[33] - The company has no unexercised share options as of September 30, 2021, following the termination of the 2002 share option plan and the adoption of a new share option plan effective from June 15, 2012[35] Audit and Compliance - The audit committee, composed solely of independent non-executive directors, reviewed the unaudited financial results for the nine months ended September 30, 2021, confirming compliance with applicable accounting standards[40]

Financial Performance - Total revenue for the six months ended June 30, 2021, was HKD 9,307,000, a decrease of 28.5% compared to HKD 13,024,000 for the same period in 2020[4] - Gross profit for the same period was HKD 8,534,000, down 30.5% from HKD 12,254,000 in 2020[4] - The company reported a significant increase in realized gains from listed securities, totaling HKD 11,270,000, compared to HKD 5,229,000 in the previous year, representing a 115.4% increase[4] - The net profit attributable to owners for the six months was HKD 80,141,000, a substantial increase from HKD 697,000 in 2020[4] - Basic and diluted earnings per share for the period were HKD 57.59, compared to HKD 0.50 in the same period last year[4] - The adjusted profit before tax for the six months ended June 30, 2021, was HKD 96,054,000, a significant increase from HKD 1,576,000 in the same period of 2020[23] - The company reported a profit of HKD 80,368,000 for the six months ended June 30, 2021, compared to HKD 1,289,000 in the same period of 2020, indicating a substantial increase[23] Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 403,764,000, an increase from HKD 350,837,000 at the end of 2020[5] - The company's net asset value increased to HKD 352,550,000 from HKD 272,628,000 at the end of 2020, reflecting a growth of 29.3%[7] - The company’s cash and cash equivalents in ordinary accounts increased to HKD 147,056,000 from HKD 126,065,000, indicating a 16.6% rise[5] - Non-current assets decreased to HKD 63,400,000 from HKD 65,300,000, a decline of 2.9%[5] - The total assets increased to HKD 467,164,000 as of June 30, 2021, from HKD 416,137,000 as of December 31, 2020, representing a growth of approximately 12.0%[24] - The total liabilities decreased to HKD 114,614,000 as of June 30, 2021, from HKD 143,509,000 as of December 31, 2020, a reduction of about 20.1%[24] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2021, was HKD 33,302,000, compared to a net cash used of HKD 5,590,000 in the same period of 2020[11] - The cash and cash equivalents at the end of the period increased to HKD 147,056,000 from HKD 91,965,000, marking a rise of approximately 60.0%[11] - The company’s financing activities used net cash of HKD 12,321,000 for the six months ended June 30, 2021, compared to HKD 1,080,000 in the same period of 2020[11] Revenue Sources - The securities brokerage business generated revenue of approximately HKD 5,400,000 for the period, down from HKD 7,200,000 in the same period of 2020, accounting for about 57.9% of total revenue[48] - Loan interest income from lending activities was approximately HKD 3,600,000 for the period, down from HKD 5,600,000 in 2020, representing about 38.7% of total revenue[51] - Rental income for the period was approximately HKD 300,000, maintaining the same level as in 2020, and accounted for about 3.3% of the group's total revenue[55] Investments - The company completed the acquisition of 49% equity in a subsidiary for HKD 200,000, which is no longer considered a related party[9] - The group recorded realized gains from the sale of listed securities of approximately HKD 11,300,000, up from HKD 5,200,000 in the same period of 2020[56] - The unrealized gains from listed securities amounted to approximately HKD 84,100,000, a significant increase from a loss of HKD 8,100,000 in 2020, primarily due to the investment in Hong Kong Aerospace Technology Group Limited, which contributed approximately HKD 82,500,000[56] - As of June 30, 2021, the group held listed equity investments with a fair value of approximately HKD 108,700,000, up from HKD 41,200,000 as of December 31, 2020[66] Corporate Governance - The audit committee, composed solely of independent non-executive directors, reviewed the unaudited financial results for the six months ended June 30, 2021, confirming compliance with applicable accounting standards[85] - The company has adhered to the corporate governance code throughout the six-month period ending June 30, 2021, except for the absence of two independent non-executive directors at the annual general meeting[82] - The company has not authorized any director or senior management to profit from acquiring the company's shares or bonds during the reporting period[77] - The company has no interests held by directors or management shareholders in any competing businesses[78] Shareholder Information - As of June 30, 2021, Ms. Huang Jiawen holds 26,533,363 shares, representing 19.07% of the company's issued share capital[74] - The company has no unexercised share options as of June 30, 2021, following the termination of the 2002 Share Option Scheme and the adoption of a new scheme effective from June 15, 2012[75] - The new share option scheme will remain effective for a period of ten years from its adoption date[75] - The company has not received any notifications of other interests or short positions in its issued share capital as of June 30, 2021[74]

Financial Performance - Total revenue for the first quarter of 2021 was HKD 4,444,000, a decrease of 44.5% compared to HKD 7,969,000 in the same period of 2020[4] - Gross profit for the first quarter of 2021 was HKD 3,947,000, down 47.9% from HKD 7,588,000 year-on-year[4] - The company reported a profit before tax of HKD 4,070,000, compared to a loss of HKD 3,214,000 in the first quarter of 2020[4] - Net profit for the period was HKD 3,396,000, a significant recovery from a loss of HKD 3,214,000 in the previous year[4] - Basic and diluted earnings per share for the first quarter of 2021 were HKD 2.56, compared to a loss per share of HKD 2.80 in the same quarter of 2020[4] - Other income, gains, and losses totaled HKD 4,800,000, a turnaround from a loss of HKD 6,954,000 in the first quarter of 2020[4] - The company recorded a net profit of approximately HKD 3,400,000 for the first quarter of 2021, a significant improvement from a net loss of HKD 3,200,000 in the same period of 2020[31] Revenue Breakdown - Total revenue for the first quarter of 2021 decreased to approximately HKD 4,400,000, a decline of about 44% from HKD 8,000,000 in 2020, primarily due to the impact of the COVID-19 pandemic[31] - The securities brokerage, underwriting, and placement segment generated revenue of approximately HKD 2,000,000, down from HKD 5,300,000 in the previous year, accounting for 44.1% of total revenue[23] - Loan interest income from lending activities was approximately HKD 2,300,000, compared to HKD 2,500,000 in 2020, representing 52.4% of total revenue[26] - The property investment segment generated rental income of approximately HKD 200,000, unchanged from the previous year, accounting for 3.5% of total revenue[28] Expenses - The company incurred administrative expenses of HKD 4,410,000, an increase of 23% from HKD 3,588,000 in the previous year[4] - Financial expenses for the quarter were HKD 267,000, slightly up from HKD 260,000 in the same period last year[15] - Administrative expenses increased by approximately 22.9% to HKD 4,400,000, primarily due to higher employee costs and marketing expenses[31] Taxation - The effective tax rate applied was based on the two-tiered profits tax system, with a tax expense of HKD 674,000 for the quarter[16] Dividends - The company did not declare or recommend any dividends for the period ending March 31, 2021, consistent with the previous year[20] Investments and Acquisitions - The company acquired 49% of the equity in a subsidiary for HKD 200,000, which is now no longer a related party[6] - The fair value of listed equity investments held by the company was approximately HKD 36,200,000, down from HKD 39,300,000 in 2020, with unrealized gains of HKD 2,200,000 compared to a loss of HKD 8,700,000 in the previous year[27] Future Plans - The company plans to continue developing existing businesses while actively exploring new business areas and investment opportunities[32] Governance - The audit committee reviewed the unaudited financial results for the three months ending March 31, 2021, and confirmed that the financial statements were prepared in accordance with applicable accounting standards[39] - The board of directors consists of five members, including three independent non-executive directors[39] - The report will be published on the GEM website and the company's website for at least 7 days[39]

Financial Performance - The company recorded a net profit of approximately HKD 5,000,000 for the year ended December 31, 2020, a decrease from HKD 10,100,000 in the same period of 2019[9]. - Total revenue for 2020 was HKD 23,372,000, down from HKD 38,957,000 in 2019, reflecting a decline of approximately 40%[6]. - The company's gross profit for 2020 was HKD 21,686,000, compared to HKD 36,696,000 in 2019, indicating a decrease of about 41%[6]. - The group reported a net profit of approximately HKD 5,000,000 for the year ended December 31, 2020, a decrease from approximately HKD 10,100,000 in 2019[32]. - The net profit for the year was HKD 5,001,000, a decrease of 50% from HKD 10,062,000 in 2019[168]. - Basic and diluted earnings per share for 2020 were HKD 3.06, down from HKD 6.50 in 2019, representing a decline of 53%[168]. - The company reported a loss of HKD 9,046,000 for the year, compared to a loss of HKD 4,264,000 in 2020, indicating a worsening of approximately 112%[173]. Assets and Liabilities - Total assets increased to HKD 416,137,000 in 2020 from HKD 378,907,000 in 2019, representing a growth of approximately 10%[7]. - Total liabilities rose to HKD 143,509,000 in 2020, up from HKD 111,280,000 in 2019, marking an increase of about 29%[7]. - The group’s debt-to-equity ratio was 9.7% as of December 31, 2020, compared to 6.0% in 2019[35]. - Current liabilities increased to HKD 128,285,000 in 2020 from HKD 90,867,000 in 2019, indicating a rise of 41%[170]. - Total non-current liabilities decreased from HKD 20,413,000 in 2019 to HKD 15,224,000 in 2020, a reduction of approximately 25%[171]. - Net assets increased from HKD 267,627,000 in 2019 to HKD 272,628,000 in 2020, reflecting a growth of about 1.5%[171]. Cash Flow and Financial Management - The company reported a significant increase in cash and cash equivalents, with HKD 126,065,000 in 2020 compared to HKD 98,594,000 in 2019[170]. - Operating cash flow for 2020 was HKD 20,594,000, a significant improvement from a cash outflow of HKD 17,446,000 in 2019[175]. - Cash and cash equivalents increased from HKD 98,594,000 at the beginning of 2020 to HKD 126,065,000 at the end of the year, representing a rise of about 28%[177]. - The company’s financing activities generated a net cash inflow of HKD 7,953,000 in 2020, compared to a cash outflow of HKD 2,435,000 in 2019[177]. Business Strategy and Operations - The company plans to expand its customer base and explore new clients to achieve long-term growth despite the challenges posed by COVID-19[10]. - The lending business has been expanded in response to strong demand for short-term loans, alongside a focus on long-term loans[11]. - The company is increasing resource allocation towards asset management services to secure stable and diversified income in the long term[15]. - Marketing efforts include hiring a celebrity spokesperson and launching various promotional activities to enhance brand awareness and diversify the customer base[14]. - The group will continue to focus on risk control and prudent investment strategies in response to the ongoing challenges posed by COVID-19[17]. Governance and Compliance - The company maintained high standards of corporate governance, complying with all GEM listing rules except for one instance regarding independent non-executive directors' attendance at the annual general meeting[56]. - The board of directors held a total of 4 meetings during the year ending December 31, 2020, with attendance rates of 100% for some directors[61]. - The company has appointed 3 independent non-executive directors, ensuring at least one possesses appropriate accounting or financial management expertise[67]. - The company has implemented a code of conduct for securities trading by directors, which has been adhered to throughout the year[58]. - The company has adopted various procedures to ensure compliance with insider trading regulations and timely disclosure of inside information[88]. Audit and Financial Reporting - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and fairly reflect the group's financial position as of December 31, 2020[148]. - The audit was conducted under the standards set by the Hong Kong Institute of Certified Public Accountants, ensuring the integrity of the financial reporting process[149]. - The company engaged external valuers to conduct impairment assessments for loans and interest receivables[156]. - The audit identified key audit matters related to goodwill and intangible asset impairment assessments, highlighting the complexity of the estimates involved[149]. - The independent auditor for the financial statements is Zhongzheng Tianheng CPA Limited, which will retire at the upcoming annual general meeting but is eligible and willing to be reappointed[143]. Shareholder Information - The company reported no final dividend for the year ended December 31, 2020, consistent with the previous year[97]. - The board will review the dividend policy periodically, but there is no guarantee of dividends being proposed or declared in any specific period[90]. - As of December 31, 2020, the major shareholder, Ms. Huang Jiawen, holds 530,667,261 shares, representing 19.07% of the issued share capital[118]. - The company allows shareholders holding at least 10% of the paid-up capital to request a special general meeting within two months of submission[83]. Investment and Asset Management - The group aims to manage its investment portfolio prudently in light of recent market volatility, seeking positive returns in the near future[40]. - The group held approximately HKD 41,200,000 in equity investments as of December 31, 2020, with a total loss of HKD 6,212,000 from these investments[37]. - The fair value of listed equity investments held by the group was approximately HKD 41,200,000 as of December 31, 2020, down from HKD 47,800,000 in 2019[25]. - The company has not received any dividends from its major investments during the year[38]. Employee and Director Information - The group employed about 20 staff members as of December 31, 2020, with total employee costs amounting to approximately HKD 7,100,000[45]. - The company’s remuneration policy for employees is based on their value, qualifications, and capabilities[133]. - The company has purchased appropriate directors and officers liability insurance for its directors and senior management[131]. - The company has a structured approach to continuous professional development for its directors to ensure they remain informed and effective[68].

（於開曼群島註冊成立之有限公司） 股份代號 : 8226 第三季度業績報告 2020 Third Quarterly Report 2020 (Incorporated in the Cayman Islands with limited liability y ) Stock Code : 8226 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主板買賣的證券承受 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市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並表明不會就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 之任何損失承擔任何責任。 本報告（樹熊金融集團有限公司（「本公司」）各董事（「董事」）願共同及個別對此負全責）乃遵 照《GEM證券上市規則》（「GEM上市規則」） ...

Financial Performance - Total revenue for the six months ended June 30, 2020, was HKD 13,024,000, a decrease of 23.4% compared to HKD 16,889,000 in the same period of 2019[4] - Gross profit for the same period was HKD 12,254,000, down 21.5% from HKD 15,581,000 year-on-year[4] - The company reported a profit before tax of HKD 1,576,000, a decline of 38.9% from HKD 2,583,000 in the previous year[4] - Net profit attributable to owners for the six months was HKD 697,000, compared to HKD 2,392,000 in the same period last year, representing a decrease of 70.1%[4] - Basic earnings per share for the period was HKD 0.03, down from HKD 0.09 in the previous year[4] - Adjusted profit before tax for the six months ended June 30, 2020, was HKD 8,926,000, down 42.0% from HKD 15,393,000 in 2019[24] - Net profit for the six months ended June 30, 2020, was HKD 1,289,000, a decline of 40.2% compared to HKD 2,156,000 in 2019[24] - The group recorded a net profit of approximately HKD 1,300,000 for the six months ended June 30, 2020, down from HKD 2,200,000 in the same period of 2019[52] Assets and Liabilities - Total assets as of June 30, 2020, were HKD 299,530,000, a decrease from HKD 318,487,000 at the end of 2019[5] - Total assets as of June 30, 2020, amounted to HKD 365,185,000, a decrease from HKD 378,907,000 as of December 31, 2019[25] - Total liabilities as of June 30, 2020, were HKD 96,269,000, down from HKD 111,280,000 as of December 31, 2019[27] - Current liabilities decreased to HKD 71,618,000 from HKD 90,867,000 at the end of 2019, reflecting a reduction of 21.2%[7] - The company’s net assets increased slightly to HKD 268,916,000 from HKD 267,627,000 at the end of 2019[7] Cash Flow - Cash and cash equivalents at the end of the period were HKD 91,965,000, down from HKD 98,594,000 at the beginning of the period[10] - The company experienced a net cash outflow from operating activities of HKD 5,590,000, compared to HKD 22,964,000 in the same period last year[10] - The group’s cash and bank balances were approximately HKD 92,000,000 as of June 30, 2020, down from HKD 98,600,000 as of December 31, 2019[54] Revenue Breakdown - Revenue from securities placement and brokerage services was HKD 7,160,000, down 24.3% from HKD 9,467,000 in 2019[21] - The securities brokerage, underwriting, and placement segment generated revenue of approximately HKD 7,200,000, a decrease of about HKD 2,300,000 compared to HKD 9,500,000 in 2019, accounting for approximately 55.0% of total revenue[45] - Loan interest income from lending activities was approximately HKD 5,600,000, down from HKD 7,200,000 in 2019, representing about 42.7% of total revenue[46] Investment Performance - The company experienced a loss of HKD 2,823,000 in securities investment for the six months ended June 30, 2020, compared to a profit of HKD 519,000 in 2019[21] - The group reported an unrealized loss of approximately HKD 8,100,000 on listed securities for the six months ended June 30, 2020, compared to a loss of HKD 900,000 in 2019[52] - The group held listed equity investments with a fair value of approximately HKD 39,300,000 as of June 30, 2020, compared to HKD 29,600,000 in 2019[48] - The group reported a total loss of HKD 8,052,000 from its trading investments, which accounted for 100% of the trading investments and approximately 14.6% of net asset value[57] Administrative and Employee Costs - Administrative expenses were approximately HKD 7,100,000, a decrease of about 46.2% from HKD 13,200,000 in 2019, primarily due to reduced employee costs[52] - Employee costs for the group were approximately HKD 3,400,000, a decrease from HKD 7,900,000 in the previous year, with a reduction in the number of employees from 29 to 21[59] Corporate Governance - The company has complied with the corporate governance code throughout the reporting period, except for the absence of two independent non-executive directors at the annual general meeting[74] - The audit committee has reviewed the unaudited financial results for the six months ended June 30, 2020, and believes that the financial statements are prepared in accordance with applicable accounting standards and have made appropriate disclosures[77] - The board of directors consists of five members, including two executive directors and three independent non-executive directors[78] Shareholder Information - Major shareholder Ms. Wong Ka Man holds 530,667,261 shares, representing 19.07% of the issued share capital as of June 30, 2020[65] - As of June 30, 2020, the group had 21,200,000 unexercised share options, representing approximately 0.8% of the issued share capital[67] Risk Management - The board does not foresee any foreign exchange risks as transactions are primarily conducted in HKD[62] Other Information - No interim dividend was declared for the six months ended June 30, 2020, consistent with 2019[35] - The group has not engaged in any major acquisitions or disposals during the six-month period ending June 30, 2020[56] - The group has no significant assets pledged as of June 30, 2020, and no significant contingent liabilities reported[60][61] - The group has adopted a new share option scheme effective from July 8, 2002, with no new options granted under this scheme as of June 30, 2020[67] - The report will be published on the GEM website and the company's website for at least 7 days[78]

（於開曼群島註冊成立之有限公司） 股份代號 : 8226 第一季度業績報告 2020 First Quarterly Report 2020 截至二零二零年三月三十一日止三個月 本報告（樹熊金融集團有限公司（「本公司」）董事（「董事」）願共同及個別對此負全責）乃遵照 《GEM證券上市規則》（「GEM上市規則」）的規定而提供有關本公司的資料。董事經作出一切 合理查詢後確認，就彼等所知及所信：本報告所載資料在所有重大方面均準確完整及沒有 誤導或欺詐成份；及概無遺漏其他事宜，致使本報告中任何聲明或本報告帶有誤導成份。 01 樹熊金融集團有限公司 二零二零年第一季度業績報告 本公司之董事會（「董事會」）謹此呈報本公司及其附屬公司（統稱「本集團」）截至二零二零年 三月三十一日止三個月之未經審核簡明綜合業績連同比較數字如下： 簡明綜合損益及其他全面收益表（未經審核） (Incorporated in the Cayman Islands with limited liability y ) Stock Code : 8226 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 ...

Financial Performance - The company recorded a net profit of approximately HKD 10,100,000 for the year ended December 31, 2019, a decrease from HKD 13,300,000 in the same period of 2018[10]. - The group's revenue decreased to approximately HKD 39,000,000 for the year ended December 31, 2019, down about 6.3% from HKD 41,600,000 in 2018[29]. - Total revenue for the year ended December 31, 2019, was HKD 38,957,000, a decrease of 6.5% from HKD 41,649,000 in 2018[159]. - Gross profit for 2019 was HKD 36,696,000, down from HKD 38,850,000 in 2018, reflecting a decline of 5.5%[159]. - The company reported a net profit of HKD 10,062,000 for 2019, a decrease of 24.5% compared to HKD 13,276,000 in 2018[159]. - Basic earnings per share for 2019 was HKD 0.33, down from HKD 0.44 in 2018, representing a decline of 25%[160]. - The company reported a total comprehensive income of HKD 14,013,000 for the year ended December 31, 2019, compared to a loss of HKD 11,625,000 in the previous year, marking a significant turnaround[166]. - The company experienced a net cash outflow of HKD 19,558,000 in 2019, compared to a net cash outflow of HKD 15,002,000 in 2018, indicating a worsening liquidity position[170]. Revenue Sources - Revenue from securities brokerage, placement, and underwriting services decreased from approximately HKD 27,100,000 in 2018 to about HKD 23,300,000 in 2019[11]. - Loan interest income from lending activities amounted to approximately HKD 14,700,000, an increase from HKD 14,000,000 in 2018, representing about 37.7% of total revenue[20]. - The securities brokerage, underwriting, and placement segment generated revenue of approximately HKD 23,300,000, a decrease of about HKD 3,800,000 compared to HKD 27,100,000 in 2018, accounting for approximately 59.8% of total revenue[19]. Assets and Liabilities - Total assets decreased from HKD 419,122,000 in 2018 to HKD 378,907,000 in 2019[8]. - Total liabilities decreased from HKD 161,557,000 in 2018 to HKD 111,280,000 in 2019[8]. - The group's cash and bank balances were approximately HKD 98,600,000 as of December 31, 2019, down from HKD 118,200,000 in 2018[30]. - The total debt amounted to approximately HKD 17,200,000 as of December 31, 2019, compared to HKD 16,200,000 in 2018[31]. - The company's net assets increased to HKD 267,627,000 in 2019 from HKD 257,565,000 in 2018, reflecting a growth of 3.9%[164]. Corporate Governance - The company maintained high standards of corporate governance, adhering to all provisions of the GEM Listing Rules except for one instance regarding the attendance of independent non-executive directors at the annual general meeting[51]. - The board held a total of six meetings during the year ended December 31, 2019, with all executive directors attending all meetings[56]. - The company has appointed three independent non-executive directors, ensuring at least one possesses appropriate accounting or financial management expertise[61]. - The company has implemented a strict code of conduct for securities trading by directors, in compliance with GEM Listing Rules[53]. - The board aims to enhance shareholder value and is responsible for overseeing the company's business and organizational affairs[54]. Risk Management - The overall industry outlook for the company is challenging, with a focus on risk control and prudent investment strategies[14][15]. - The group will adopt prudent measures to manage its investment portfolio in light of recent market volatility[35]. - The company emphasizes a continuous and proactive risk management process, including risk identification, assessment, and handling[78]. Future Plans and Strategies - The company plans to continue expanding its customer base and exploring new business areas for long-term growth[11]. - The company is developing mortgage loan services to enhance its existing lending business[12]. - Marketing efforts include increased social media advertising and sponsorship of charitable events to enhance brand awareness[13]. Shareholder Information - As of December 31, 2019, the major shareholder Huang Jiawen holds 530,667,261 shares, representing 19.07% of the issued share capital[111]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting within two months of submission[76]. - The company reported no final dividend for the year ended December 31, 2019, consistent with the previous year[90]. Audit and Compliance - The audit opinion confirms that the consolidated financial statements present a true and fair view of the group's financial position as of December 31, 2019[143]. - The company has an internal audit department that evaluates risk management and internal control systems, reporting to the audit committee and board[80]. - The auditor's fees for audit services amounted to approximately HKD 658,000 for the year ended December 31, 2019, compared to HKD 655,000 in 2018[74]. Stock Options and Incentives - The company has a total of 21,200,000 unexercised stock options under the 2002 stock option plan as of December 31, 2019, representing approximately 0.8% of the issued share capital[114]. - The company has adopted a stock option plan as an incentive mechanism for directors and eligible employees[128]. - No stock options were granted under the new stock option plan during the year[114].

Financial Performance - Total revenue for the nine months ended September 30, 2019, was HKD 28,239,000, a decrease of 23.5% compared to HKD 36,944,000 for the same period in 2018[3] - Gross profit for the nine months ended September 30, 2019, was HKD 26,349,000, down 24.5% from HKD 34,788,000 in 2018[3] - Profit before tax for the nine months ended September 30, 2019, was HKD 3,873,000, a decline of 80.4% compared to HKD 19,781,000 in 2018[3] - Net profit for the nine months ended September 30, 2019, was HKD 3,399,000, down 79.5% from HKD 16,547,000 in 2018[3] - Basic and diluted earnings per share for the nine months ended September 30, 2019, were HKD 0.10, compared to HKD 0.55 for the same period in 2018[4] - Total comprehensive income for the nine months ended September 30, 2019, was HKD 3,399,000, down 80.1% from HKD 17,051,000 in 2018[4] - For the nine months ended September 30, 2019, the group's revenue decreased to approximately HKD 28,200,000, a decline of about 23.6% compared to HKD 36,900,000 in the same period of 2018[25] - The group recorded a net profit of approximately HKD 3,400,000 for the nine months ended September 30, 2019, significantly down from HKD 16,500,000 in the same period of 2018[27] Revenue Breakdown - Revenue from securities placement and brokerage services for the nine months ended September 30, 2019, was HKD 14,450,000, a decrease of 44.7% from HKD 26,151,000 in 2018[13] - The securities brokerage, underwriting, and placement segment generated revenue of approximately HKD 14,500,000, down from HKD 26,200,000 in the same period of 2018, accounting for 51.2% of total revenue[20] - Loan interest income from lending activities was approximately HKD 13,400,000, an increase from HKD 10,400,000 in 2018, representing 47.4% of total revenue[21] - Interest income from receivables for the nine months ended September 30, 2019, increased to HKD 13,384,000, up 28.8% from HKD 10,388,000 in 2018[13] Expenses and Management - The company reported a significant increase in administrative expenses, totaling HKD 18,143,000 for the nine months ended September 30, 2019, compared to HKD 17,050,000 in 2018[3] - Administrative expenses for the nine months ended September 30, 2019, were approximately HKD 18,100,000, an increase of about 6.4% compared to HKD 17,100,000 in 2018[25] Shareholder Information - As of September 30, 2019, the major shareholder, Ms. Wong Ka Man, held 530,667,261 shares, representing 19.07% of the issued share capital[30] - As of September 30, 2019, the company had 21,200,000 unexercised share options under the 2002 Share Option Scheme, representing approximately 0.8% of the issued share capital[33] - The group did not declare an interim dividend for the nine months ended September 30, 2019[17] Corporate Governance - The audit committee reviewed the unaudited financial results for the nine months ended September 30, 2019, and confirmed compliance with applicable accounting standards[39] - The audit committee is composed solely of independent non-executive directors[39] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2019[38] - There were no interests held by directors or management shareholders in any competing businesses[37] - The company has not authorized any directors or key executives to profit from acquiring shares or bonds during the reporting period[35] - The company has not established any arrangements that would allow directors to have rights or interests through the acquisition of shares or bonds[35] - The new share option scheme is effective for a period of 10 years starting from June 15, 2012[33] - The company has maintained the same number of unexercised share options from December 31, 2018, to September 30, 2019[33] Future Outlook - The group aims to continue developing existing businesses while actively exploring new business areas and investment opportunities[28] - The group will maintain strict risk control and enhance internal management to provide better returns for shareholders[28] Product Development - The company has not disclosed any new product developments or market expansion strategies during the reporting period[3]