Company Overview - Koala Financial Group Limited is listed on the GEM of the Hong Kong Stock Exchange under stock code 8226, providing various financial services including securities brokerage, underwriting, asset management, lending, and property investment[7]. - The company has established a solid foundation in Hong Kong, becoming one of the major comprehensive financial groups in the region[7]. Community Engagement and Corporate Social Responsibility - The company actively participates in marketing activities to enhance brand awareness, sponsoring online financial media and programs on popular financial broadcasting channels[9]. - During the review period, the company distributed KN95 masks to clients and those in need, enhancing its positive public image amid the COVID-19 pandemic[11]. - The company was awarded the "Caring Company" logo by the Hong Kong Council of Social Service, recognizing its commitment to community, employee, and environmental care over the years[12]. - The company served as a major sponsor for the "Cookie Sale Campaign 2022," supporting elderly care services in Hong Kong[13]. - The company participated in the "Million Walk" event organized by the Community Chest, raising funds for family and child welfare services[16]. - The company was the title sponsor for the "Healthy Walk Online 2022," promoting physical activity during the pandemic[17]. - The company aims to maintain sustainable business development through ongoing community engagement and brand-building initiatives[9]. Financial Performance - The group reported a net loss of approximately HKD 57.9 million for the year ended December 31, 2022, a significant decrease from a net profit of approximately HKD 82.7 million in the previous year[23]. - Interest income from margin financing increased by 59.4% to approximately HKD 10 million in 2022, compared to HKD 6.2 million in 2021[25]. - Total assets decreased to HKD 478,246,000 in 2022 from HKD 493,619,000 in 2021, while total liabilities decreased to HKD 91,241,000 from HKD 130,158,000[20]. - The group's revenue from brokerage services was HKD 2,658,000 in 2022, down from HKD 3,767,000 in 2021[37]. - The group’s total revenue for the year was approximately HKD 19,095,000, a slight decrease from HKD 19,175,000 in the previous year, accounting for 81.3% of total revenue[37]. - The group recognized a realized loss of approximately HKD 79.6 million on listed securities during the year, compared to a fair value gain of approximately HKD 85.3 million in the previous year[23]. - The equity attributable to the owners of the company increased to HKD 379,004,000 in 2022 from HKD 353,048,000 in 2021[20]. - The group's revenue decreased to approximately HKD 23,500,000 for the year ended December 31, 2022, down about 9.3% from HKD 25,900,000 in 2021, primarily due to a decline in lending business revenue from HKD 6,300,000 to HKD 3,900,000[58]. - The group recorded a realized loss of approximately HKD 79,600,000 from the sale of listed securities, compared to a gain of HKD 11,100,000 in the same period of 2021[58]. Asset Management and Investment Strategy - The group plans to continue allocating resources to margin financing, expecting it to become a key growth driver in the future[25]. - The group has initiated asset management services through a subsidiary, aiming to provide stable and diversified income sources in the long term[30]. - The group plans to actively seek suitable commercial properties in Hong Kong to expand its investment portfolio[54]. Governance and Corporate Structure - The board of directors is committed to maintaining high corporate governance standards, ensuring accountability and transparency, and has complied with all provisions of the GEM Listing Rules Appendix 15 for the year ended December 31, 2022[89]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, focusing on enhancing shareholder value and overseeing business management[92]. - The board will review its governance practices at least annually and make necessary adjustments[90]. - The company has adopted a code of conduct regarding securities trading by directors, ensuring compliance with GEM Listing Rules[91]. - The company has established an investment committee responsible for formulating investment policies and reviewing the investment portfolio[118]. - The board is responsible for the effectiveness of the risk management and internal control systems, which were reviewed and deemed effective during the year[119]. Employee Relations and Development - As of December 31, 2022, the group had approximately 17 employees, with employee costs amounting to HKD 5,200,000, a decrease from HKD 6,200,000 in 2021[79]. - The company emphasizes competitive compensation, adjusting employee salaries based on individual performance, qualifications, experience, and labor market conditions[79]. - The company is dedicated to providing suitable ongoing training for employees to equip them for future developments[79]. - The percentage of trained employees in senior management was 100%, while only 43% of management and other employees received training during the reporting period, down from 72% the previous year[180]. - The company supports employees in obtaining professional qualifications and certifications, including registered accountants[180]. Environmental, Social, and Governance (ESG) Initiatives - The company recognizes the integration of environmental, social, and governance principles into its risk management system as crucial for sustainable development[132]. - The company is committed to sustainable development and considers various environmental and social factors in decision-making[145]. - The total greenhouse gas emissions for the reporting period were approximately 38.26 tons, with a per-employee emission of 2.25 tons[149]. - The company has implemented measures to reduce energy consumption, such as turning off air conditioning at night and maintaining office temperatures at 25 degrees Celsius during summer[149]. - The company aims to reduce greenhouse gas emissions by 10% by the end of 2030 through various energy-saving initiatives[166]. Compliance and Risk Management - The company has established an anti-corruption policy to ensure compliance with anti-corruption laws across all employees and directors[192]. - All employees are prohibited from offering or receiving any form of bribes or commissions under any circumstances[193]. - The company has implemented a reporting policy for misconduct, ensuring confidentiality and sensitivity to protect whistleblowers[196]. - The company strictly adheres to applicable laws and regulations regarding product/service liability in Hong Kong[186]. Customer Relations - The company maintains clear and continuous communication channels with customers, actively listening to feedback and responding promptly to complaints[185]. - Customer assets are safeguarded in independent accounts, with transactions conducted only upon customer consent or contractual obligations[187].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公佈全部或任 何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：8226） 截至二零二二年十二月三十一日止年度 末期業績公佈 樹熊金融集團有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然宣佈本公 司及其附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止年度的經審核 綜合業績。 本公佈列載本集團二零二二年年度報告全文，並符合香港聯合交易所有限公司（「聯 交所」）GEM證券上市規則（「GEM上市規則」）中有關年度業績初步公佈附載之資 料之要求。載有GEM上市規則規定資料之本公司二零二二年年度報告之印刷本將 於適當時候寄發予本公司股東。 本公司的末期業績公佈已登載於聯交所網站「www.hkexnews.hk」及本公司網站 「www.koala8226.com.hk」。 承董事會命 樹熊金融集團有限公司 ...

Financial Performance - Total revenue for the nine months ended September 30, 2022, was HKD 16,581,000, a decrease of 2.73% compared to HKD 17,046,000 for the same period in 2021[4] - Gross profit for the nine months ended September 30, 2022, was HKD 15,195,000, down from HKD 15,996,000 in 2021, reflecting a decline of 5.01%[4] - The company reported a loss before tax of HKD 52,750,000 for the nine months ended September 30, 2022, compared to a profit of HKD 114,543,000 in the same period of 2021[4] - The net loss attributable to owners of the company for the nine months ended September 30, 2022, was HKD 45,364,000, compared to a profit of HKD 94,753,000 in 2021[6] - The basic and diluted loss per share for the nine months ended September 30, 2022, was HKD 26.41, compared to earnings of HKD 68.09 per share in 2021[6] - The group's net loss for the nine months ended September 30, 2022, was approximately HKD 44,100,000, a significant decrease from a net profit of approximately HKD 95,800,000 in the same period of 2021[35] Revenue Breakdown - The revenue from securities brokerage, underwriting, and related services for the nine months ended September 30, 2022, was HKD 7,281,000, compared to HKD 7,248,000 in 2021, showing a slight increase[16] - The securities brokerage segment contributed approximately 83.5% of total revenue for the nine months ended September 30, 2022, up from 67.1% in 2021[28] - Rental income during the period was approximately HKD 400,000, representing 2.3% of the group's total revenue, up from 1.6% in the previous year[33] Investment and Financing - The company issued 278,335,994 shares at a subscription price of HKD 0.3 per share, raising approximately HKD 83,500,000 before expenses[8] - Interest income from margin financing increased to HKD 6,557,000 for the nine months ended September 30, 2022, up from HKD 4,195,000 in 2021, representing a growth of approximately 56.4%[16] - Interest income from loans for the nine months ended September 30, 2022, was HKD 2,365,000, a significant decrease from HKD 5,322,000 in 2021, reflecting a decline of approximately 55.6%[16] - As of September 30, 2022, the outstanding loans and interest receivable amounted to HKD 33,600,000, down from HKD 38,300,000 in 2021[30] Unrealized and Realized Losses - The unrealized loss on listed securities for the nine months ended September 30, 2022, was HKD 59,339,000, compared to a gain of HKD 99,430,000 in the same period of 2021[4] - The fair value loss on listed equity investments for the nine months ended September 30, 2022, was approximately HKD 59,300,000, compared to a gain of HKD 99,400,000 in 2021[32] - The group recorded a realized loss of approximately HKD 1,300,000 from the sale of listed securities, compared to a gain of approximately HKD 11,100,000 in the same period of 2021[35] - The group experienced an unrealized loss of approximately HKD 59,300,000 on listed securities, a significant decline from a gain of approximately HKD 99,400,000 in the same period of 2021[35] Administrative and Other Expenses - Administrative expenses for the nine months ended September 30, 2022, were HKD 9,123,000, down from HKD 10,890,000 in 2021, indicating a reduction of 16.19%[4] - The company recorded other income and gains of HKD 2,421,000 for the nine months ended September 30, 2022, compared to HKD 92,000 in 2021[4] Shareholder Information - The total equity attributable to owners of the company as of September 30, 2022, was HKD 389,100,000, a decrease from HKD 356,112,000 at the end of 2021[7] - The average number of ordinary shares for the nine months ended September 30, 2022, was 171,793,000, an increase from 139,168,000 in 2021 due to a share consolidation adjustment[21] - The company did not recommend any interim dividend for the nine months ended September 30, 2022, compared to no dividend in 2021[23] - As of September 30, 2022, the major shareholder, Ms. Wong Ka Man, held 79,600,089 shares, representing 19.07% of the issued share capital[39] Future Plans and Strategies - The board plans to continue developing existing businesses while actively exploring new business areas and seeking suitable investment opportunities[36] - The group aims to strictly control risks, strengthen internal management, and formulate prudent investment strategies to enhance shareholder returns[36] - The board is actively seeking suitable commercial properties in Hong Kong to expand the investment property portfolio[33] - The group is looking to diversify its investment property portfolio by exploring opportunities in Hong Kong's retail and industrial properties[33]

Financial Performance - The company reported total revenue of HKD 12,985,000 for the six months ended June 30, 2022, representing a 39.5% increase compared to HKD 9,307,000 in the same period of 2021[4] - Gross profit for the six months ended June 30, 2022, was HKD 11,816,000, up 38.5% from HKD 8,534,000 in the previous year[4] - The company recorded a loss before tax of HKD 26,129,000 for the six months ended June 30, 2022, compared to a profit of HKD 96,054,000 in the same period of 2021[4] - The company reported a basic and diluted loss per share of HKD 16.61 for the six months ended June 30, 2022, compared to earnings of HKD 57.59 in the same period of 2021[5] - The company reported a comprehensive income of HKD 15,906,000 for the three months ended June 30, 2022, compared to HKD 76,972,000 in the same period of 2021[5] - The group reported a segment loss of HKD 19,888,000 for the six months ended June 30, 2022, compared to a profit of HKD 103,580,000 in the same period of 2021, indicating a significant decline in performance[24] - The group incurred a pre-tax loss of HKD 26,129,000 for the six months ended June 30, 2022, compared to a profit of HKD 96,054,000 in the same period of 2021[25] - The net loss for the six months ended June 30, 2022, was approximately HKD 22,000,000, compared to a net profit of approximately HKD 80,400,000 in the same period of 2021[63] Assets and Liabilities - The net asset value decreased to HKD 341,420,000 as of June 30, 2022, down from HKD 363,461,000 at the end of 2021[8] - Total liabilities decreased to HKD 108,664,000 as of June 30, 2022, from HKD 112,158,000 at the end of 2021[8] - The company’s total assets decreased to HKD 395,898,000 as of June 30, 2022, from HKD 424,207,000 at the end of 2021[7] - The group’s total assets decreased to HKD 461,837,000 as of June 30, 2022, down from HKD 492,286,000 at the end of 2021, representing a decline of 6.2%[28] - The total liabilities decreased to HKD 120,417,000 as of June 30, 2022, down from HKD 128,825,000 at the end of 2021, reflecting a decline of 6.5%[28] Cash Flow and Financial Position - The company’s cash and cash equivalents increased to HKD 131,895,000 as of June 30, 2022, compared to HKD 123,471,000 at the end of 2021[7] - The total cash and cash equivalents at the end of the period increased to HKD 131,895,000 from HKD 147,056,000, reflecting a decrease of 10.3% year-on-year[12] - The net cash generated from operating activities for the six months ended June 30, 2022, was HKD 9,660,000, a decrease of 70.0% compared to HKD 33,302,000 for the same period in 2021[12] Revenue Sources - Revenue from securities placement, underwriting, and brokerage services increased to HKD 11,005,000, up 104.9% from HKD 5,393,000 in 2021[24] - Total revenue from brokerage services for the six months ended June 30, 2022, was HKD 11,005,000, an increase of approximately 84.8% compared to HKD 5,393,000 in 2021[55] - Interest income from loans for the six months ended June 30, 2022, was HKD 1,700,000, a decrease from HKD 3,600,000 in 2021, representing 13.3% of total revenue[57] Expenses and Costs - The company’s administrative expenses for the six months ended June 30, 2022, were HKD 6,614,000, a decrease from HKD 7,006,000 in the previous year[4] - The group’s financial expenses decreased to HKD 121,000 for the six months ended June 30, 2022, down from HKD 494,000 in the same period of 2021, a reduction of 75.6%[30] - As of June 30, 2022, the group had approximately 19 employees, with total employee costs amounting to HKD 2,700,000, a decrease from HKD 3,400,000 in the previous year[76] Shareholder Information - The beneficial owner Huang Jiawen holds 26,533,363 shares, representing 19.07% of the issued share capital[82] - The weighted average number of ordinary shares for basic and diluted earnings per share was 139,168,000 shares for both periods[36] - The current share option plan, effective from July 8, 2002, will not grant any further options after its expiration on June 15, 2022[84] Corporate Governance and Future Plans - The board will continue to explore new business areas and seek suitable investment opportunities while strictly controlling risks and enhancing internal management[64] - The group plans to allocate approximately HKD 70,000,000 from the public offering proceeds to develop its securities business[67] - The audit committee reviewed the unaudited financial results for the six months ended June 30, 2022, and confirmed compliance with applicable accounting standards[92] Other Information - The company did not recommend any interim dividend for the six months ended June 30, 2022, consistent with the previous year[39] - The group has not completed any significant acquisitions or disposals that require disclosure under GEM listing rules during the reporting period[71] - The group reported no significant contingent liabilities as of December 31, 2021, and June 30, 2022[78] - The board does not believe the group is facing any foreign exchange risks, as transactions are primarily denominated in HKD[79]

Financial Performance - Revenue for Q1 2022 was HKD 6,319,000, an increase of 42.2% compared to HKD 4,444,000 in Q1 2021[4] - Gross profit for Q1 2022 was HKD 5,994,000, up 52.0% from HKD 3,947,000 in the same period last year[4] - The company reported a loss before tax of HKD 45,236,000, compared to a profit of HKD 4,070,000 in Q1 2021[4] - Total comprehensive loss for the period was HKD 37,947,000, a significant decline from a profit of HKD 3,396,000 in Q1 2021[4] - Basic and diluted loss per share for Q1 2022 was HKD 27.66, compared to earnings of HKD 2.56 per share in Q1 2021[4] - The company recorded a net loss of approximately HKD 37,900,000 for the three months ended March 31, 2022, compared to a net profit of approximately HKD 3,400,000 for the same period in 2021[34] Other Income and Expenses - Other income, losses, and gains totaled HKD (48,129,000) in Q1 2022, a decrease from HKD 4,800,000 in Q1 2021[4] - Interest income from guaranteed financing was HKD 2,206,000, an increase of 95.0% from HKD 1,130,000 in Q1 2021[13] - The company incurred financial expenses of HKD 108,000, down 59.6% from HKD 267,000 in Q1 2021[15] Equity and Investments - The total equity attributable to owners of the company as of March 31, 2022, was HKD 314,550,000, a decrease from HKD 353,048,000 at the beginning of the year[6] - The fair value of listed equity investments held by the company was approximately HKD 77,200,000 as of March 31, 2022, compared to HKD 36,200,000 as of March 31, 2021[32] - The company reported a realized loss of approximately HKD 400,000 from the sale of listed securities in Q1 2022, compared to a gain of HKD 2,500,000 in Q1 2021[34] - The company recorded a significant unrealized loss of approximately HKD 47,700,000 on listed securities in Q1 2022, compared to a gain of HKD 2,200,000 in Q1 2021, primarily due to losses from investments in Hong Kong Aerospace Technology Group Co., Ltd.[34] Future Outlook - The company plans to expand its investment property portfolio by actively seeking suitable commercial properties in Hong Kong[33] - The company anticipates that the brokerage and margin financing services will become a major growth driver moving forward[24] - The group anticipates that the COVID-19 pandemic may impact its financial performance, including fair value changes in securities investments and expected credit losses on loans and interest[36] Shareholding and Governance - As of March 31, 2022, Ms. Huang Jiawen holds 26,533,363 shares, representing 19.07% of the company's issued share capital[38] - The audit committee has reviewed the unaudited financial results for the three months ended March 31, 2022, and believes that the financial statements are prepared in accordance with applicable accounting standards[45] Revenue Breakdown - The brokerage services revenue was HKD 641,000 in Q1 2022, down from HKD 819,000 in Q1 2021[24] - The interest income from lending activities was approximately HKD 800,000 in Q1 2022, a decrease from HKD 2,300,000 in Q1 2021, accounting for 12.9% of total revenue[29] Dividends - The company did not declare or recommend any dividends for the three months ended March 31, 2022, consistent with the previous year[20]

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].