Financial Performance - In Q1 2019, ZZ Capital International Limited reported corporate advisory income of HKD 2,640,000, compared to zero in Q1 2018[9]. - Interest income from lending activities reached HKD 370,000 in Q1 2019, also compared to zero in the same period last year[9]. - The company incurred a net investment loss of approximately HKD 1,270,000 in Q1 2019, a decline from a net income of HKD 590,000 in Q1 2018[9]. - Interest income from bank deposits increased significantly to approximately HKD 3,520,000, up from HKD 580,000 in Q1 2018[9]. - The total comprehensive loss for Q1 2019 was HKD 10,920,000, a substantial decrease from HKD 104,680,000 in Q1 2018[9]. - Operating expenses were significantly reduced to HKD 9,240,000 in Q1 2019, down from HKD 102,400,000 in the same quarter of 2018[9]. - The basic loss per share for Q1 2019 was HKD 0.32, compared to HKD 2.94 in Q1 2018[9]. - The company experienced a net loss of HKD 11,271,000 for the first fiscal quarter of 2019, compared to a loss of HKD 104,417,000 in the same period of 2018[43]. - The company reported a fair value loss of HKD 1,273,000 on financial assets measured at fair value through profit or loss for the three months ended June 30, 2019[31]. Dividend Policy - The company did not recommend the payment of dividends for Q1 2019, consistent with the previous year[9]. - The company did not recommend any dividend payment for the first fiscal quarter of 2019, consistent with the previous year[44]. Asset Management - As of June 30, 2019, the net asset value was HKD 694,230,000, a slight decrease from HKD 705,180,000 as of March 31, 2019[9]. - The company’s tax losses amounted to approximately HKD 541,756,000 as of June 30, 2019, with no deferred tax asset recognized due to unpredictable future profits[42]. - The company’s basic loss per share for the first fiscal quarter of 2019 was calculated based on 3,550,496,836 shares, the same as in 2018[43]. Business Development - The company anticipates uncertainty in business opportunities in consulting, financing, and asset management due to the economic slowdown and trade tensions[60]. - The company aims to continue developing investment consulting and explore diversification opportunities[60]. - The company added three institutional clients in Q1 2019, contributing to improved business development[55]. Corporate Governance - The audit committee has reviewed the first-quarter financial statements, confirming compliance with applicable accounting standards[99]. - The company has a structured audit committee consisting of three independent non-executive directors[99]. - The company has disclosed all relevant information as required by the GEM listing rules[100]. Shareholder Information - The company holds a controlling interest of 73.66% in the shares, amounting to 2,615,372,627 shares[75]. - The major shareholders include Xizang Kangbang, Changzhou Jingjiang, and Zhongzhi Capital, each holding the same number of shares[75]. - The company is indirectly owned 73.66% by Zhongzhi Capital through its wholly-owned subsidiaries[98]. - The company does not foresee any competition or conflicts of interest with its major shareholders as of June 30, 2019[98]. Compliance and Accounting - The company’s financial statements were prepared in accordance with Hong Kong Financial Reporting Standards and the GEM Listing Rules[2]. - The company’s accounting policies remained consistent with those used in the annual financial statements for the year ended March 31, 2019[21]. - No purchases, sales, or redemptions of the company's listed securities occurred during the first fiscal quarter[95].

Company Overview - ZZ Capital International Limited is an investment and corporate investment advisory services firm headquartered in Hong Kong, listed on GEM of The Stock Exchange of Hong Kong Limited[13]. - The Group's principal operating subsidiary, ZZCI Corporate Finance Limited, is licensed for type 1, type 4, type 6, and type 9 regulated activities, providing a diversified range of corporate advisory and asset management services[15]. - The Group established a subsidiary in 2016, approved as a Qualified Foreign Limited Partnership, to enhance its business operations in Shenzhen[16]. - The Group's wholly-owned subsidiary, ZZCI Credit Limited, holds a money lenders license, allowing it to provide financing against marketable securities[17]. - The company was formerly known as Asian Capital Holdings Limited and changed its name following its acquisition by Zhongzhi Capital in 2016[14]. Financial Performance - The report includes a consolidated statement of profit or loss and other comprehensive income, which is essential for assessing the Group's financial performance[61]. - The report also features a consolidated statement of financial position, providing insights into the Group's assets and liabilities[62]. - The Group's five-year financial summary is included, offering a historical perspective on its financial performance[156]. - The Group reported a revenue of HK$1.63 million from corporate advisory services provided to four new institutional clients during the Year[45]. - The Group's revenue for the Year dropped to approximately HK$3.94 million, down from HK$246.45 million in 2018, primarily due to the expiration of the investment advisory and management agreement with Zhongzhi Capital[57][58]. - A net investment loss on financial assets amounted to approximately HK$84.99 million, compared to a net investment income of HK$6.28 million in the previous year, largely due to a fair value loss on convertible loan receivable[59][61]. - Interest income from bank deposits increased to approximately HK$9.01 million, up from HK$1.02 million in 2018[59][61]. - Operating expenses decreased to approximately HK$186.90 million from HK$229.24 million, with significant reductions in staff costs and rental expenses[60][62]. - The pre-tax loss for the Year was approximately HK$283.90 million, compared to a pre-tax profit of approximately HK$26.82 million in the last financial year[61][62]. - Total comprehensive loss for the Year amounted to approximately HK$285.23 million, compared to total comprehensive income of HK$18.17 million recorded in the last financial year[65][66]. Assets and Liabilities - The Group's net assets value decreased to approximately HK$705.18 million as at 31 March 2019, down from HK$990.41 million in 2018[67][69]. - The Group maintained net current assets of approximately HK$685.99 million as at 31 March 2019, compared to HK$508.70 million in 2018, with a current ratio of approximately 71.71[72]. - The Group had no borrowings, resulting in a nil gearing ratio as at 31 March 2019[73]. - The capital source of the Company comprises only ordinary shares, with total equity attributable to owners amounting to approximately HK$705.18 million as at 31 March 2019[75]. - The total equity attributable to owners as of March 31, 2019, was approximately HK$705.18 million, down from HK$990.41 million in 2018, primarily due to a decrease in retained earnings during the year[77]. - The Group's operating lease commitment decreased to HK$11.13 million as of March 31, 2019, from HK$100.99 million in the previous financial year, due to the termination of lease agreements in the US and UK[78]. - The Group had no material contingent liabilities as of March 31, 2019, consistent with the previous year[82]. Strategic Initiatives - The Company aims to leverage Hong Kong's geographical advantages under the Greater Bay Area plan to optimize resources and develop sustainable growth strategies[51]. - The Group actively adjusted its overseas strategy, focusing on project divestiture, team restructuring, and cost reduction due to the PRC government's foreign exchange policy[35]. - The Group plans to leverage its strategic location in Hong Kong and connectivity with Mainland China to diversify across geographies, sectors, and asset classes[87]. - The Group aims to pursue investment and lending opportunities to enhance profitability, despite having no plans for significant investments or acquisitions of capital assets[89]. - The Group's revenue improved in the second half of the year following the first stage of internal reorganization and new business strategy implementation[143]. Governance and Management - The Board of Directors confirms the accuracy and completeness of the information contained in the report, ensuring transparency for investors[6]. - The Group has engaged Corporate Governance Professionals Limited as its internal auditor to enhance corporate governance and internal control processes[50]. - The Group's governance structure was further improved with the appointment of a non-executive director in March 2019[43]. - The Company is focused on expanding its market presence and enhancing its investment strategies through experienced leadership[107]. - The management team includes professionals with advanced degrees from prestigious universities, enhancing the Company's governance and strategic direction[98][100]. - The Group has established a competitive remuneration structure to attract and retain talent, with no major recruitment or operational disruptions reported[158]. Risks and Challenges - The Group faced operational risks due to reliance on a significant external client, which impacted profitability during the Year[139]. - The Group is facing challenges related to talent retention and may not cover long-term capital expenditure and technology upgrades with future revenue[143]. - Compliance with relevant laws and regulations is a cornerstone of the Group's operations, with ongoing challenges due to changes in laws and regulations[151]. - The Group's operational flexibility is affected by China's capital control restrictions and exchange rate fluctuations between Renminbi and Hong Kong dollar[143]. - The Group's deposits with licensed banks in Hong Kong pose counterparty risks, although these are with well-capitalized institutions[145]. Shareholding Structure - As of March 31, 2019, Jinhui Capital Company Limited holds 2,159,552,102 shares, representing approximately 60.82% of the company's shareholding[198]. - Jinhui Capital Company Limited is identified as the beneficial owner of the shares held[198]. - Zhongzhi Capital (HK) Company Limited and Shenzhen Qianhai Zhongzhi Jinhui Investment Management Partnership also have interests in the same number of shares, indicating controlled corporation interests[198].

Financial Performance - For the third quarter of 2018, ZZ Capital International Limited reported investment consulting and management fee income of HKD 480,000, a significant decrease from HKD 224,940,000 in 2017[6]. - The company did not recognize any corporate advisory income for the nine months ended December 31, 2018, compared to HKD 16,150,000 in 2017[6]. - The total comprehensive loss for the nine months ended December 31, 2018, was HKD 181,814,000, compared to a profit of HKD 81,130,000 in 2017[6]. - The basic loss per share for the nine months ended December 31, 2018, was HKD 5.11, compared to earnings of HKD 2.33 in 2017[6]. - The company reported a pre-tax loss of HKD 184,061,000 for the nine months ended December 31, 2018, compared to a profit in the previous year[22]. - The group reported a total loss of HKD 181,810,000 for the nine months ended December 31, 2018, compared to a profit of HKD 81,130,000 in 2017[51]. - The group reported a basic loss per share of HKD 0.0511 for the nine months ended December 31, 2018, compared to earnings of HKD 0.0233 in 2017[51]. Revenue and Income - The company's revenue for the three months ended December 31, 2018, was a loss of HKD 3,254,000, compared to revenue of HKD 225,997,000 for the same period in 2017[19]. - For the nine months ended December 31, 2018, the total revenue was a loss of HKD 8,009,000, down from HKD 250,717,000 in the previous year[19]. - Investment advisory and management income for the three months ended December 31, 2018, was HKD 475,000, significantly lower than HKD 224,941,000 in the same period of 2017[19]. - The total revenue and other losses for the nine months ended December 31, 2018, amounted to a loss of HKD 8,010,000, compared to revenue of HKD 250,720,000 in 2017[6]. Operating Expenses - Operating expenses for the third quarter of 2018 were HKD 34,890,000, down from HKD 62,390,000 in 2017, primarily due to significant reductions in professional fees and employee costs following layoffs in the US and UK[6]. - Operating expenses for the third fiscal quarter were HKD 34,890,000, down from HKD 62,390,000 in 2017, primarily due to significant reductions in professional fees and employee costs following office closures in the US and UK[50]. Tax and Equity - The tax credit for the nine months ended December 31, 2018, was HKD 2,640,000, compared to an expense of HKD 1,340,000 in 2017[6]. - As of December 31, 2018, the company's total equity attributable to ordinary shareholders was HKD 808,600,000, down from HKD 1,053,372,000 in 2017[10]. Foreign Exchange - The company reported a foreign exchange gain of HKD 2,080,000 for the third quarter of 2018, contrasting with a loss of HKD 380,000 in 2017[6]. - The group incurred a foreign exchange loss of HKD 13,590,000 for the nine months ended December 31, 2018, compared to a gain of HKD 1,130,000 in 2017[50]. Dividends - The board of directors did not recommend the payment of any dividends for the nine months ended December 31, 2018[6]. - The group did not declare any dividends for the nine months ended December 31, 2018, consistent with the previous year[54]. - The company did not recommend any dividend for the nine months ended December 31, 2018, consistent with the previous year[42]. Business Segments - The company has three main reportable segments: corporate advisory services, asset management, and proprietary investment and lending[21]. - The company experienced a significant loss in the "other" segment, amounting to HKD 176,940,000 for the nine months ended December 31, 2018[22]. Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the third-quarter financial statements and confirmed compliance with applicable accounting standards[70]. - The company has established an audit committee in accordance with GEM listing rules to oversee financial reporting and risk management[70]. - The audit committee has confirmed that the financial statements are adequately disclosed and comply with applicable accounting standards[71]. Shareholding Structure - The company has a controlling interest of 73.66% held by Zhongzhi Capital Management Limited and its subsidiaries, amounting to 2,615,372,627 shares[62]. - The company’s controlling shareholder, Zhongzhi Capital, is indirectly owned through its wholly-owned subsidiaries, Jinhui and Kangbang[67]. - No other individuals were reported to have interests in the company's shares that require disclosure under the Securities and Futures Ordinance as of December 31, 2018[64]. Strategic Focus - The group has completed adjustments to its overseas business and is focusing on development opportunities in the Greater China region, particularly in Hong Kong and domestic markets[52]. - The group aims to leverage its financial advantages to provide guarantee loans to quality enterprises while also investing in consulting and management services[52].