Financial Performance - For the nine months ended September 30, 2022, revenue was approximately HKD 5,925,000, a decrease of 45.8% compared to HKD 10,910,000 for the same period in 2021[7]. - The loss attributable to owners for the nine months ended September 30, 2022, was approximately HKD 21,460,000, compared to a loss of HKD 12,641,000 for the same period in 2021, representing an increase of 69.8%[7]. - Basic loss per share for the nine months ended September 30, 2022, was approximately HKD 1.82, compared to HKD 1.36 for the same period in 2021, indicating a worsening of 33.8%[7]. - Total comprehensive loss for the three months ended September 30, 2022, was HKD 1,262,000, compared to a loss of HKD 4,248,000 for the same period in 2021[9]. - The company reported a total income from client contracts of HKD 5,925,000 for the nine months ended September 30, 2022, compared to HKD 10,910,000 in the same period of 2021, reflecting a significant decline[21]. - The company incurred a pre-tax loss of HKD 12,997,000 for the nine months ended September 30, 2022, compared to a loss of HKD 13,681,000 in the same period of 2021[24]. - The company’s employee benefit expenses totaled HKD 12,997,000 for the nine months ended September 30, 2022, a slight decrease from HKD 13,681,000 in the same period of 2021[24]. - The company’s interest income from debt securities for the nine months ended September 30, 2022, was HKD 691,000, compared to no income in the previous year[23]. Revenue Breakdown - Brokerage service commission revenue for the nine months ended September 30, 2022, was HKD 1,521,000, down 42.8% from HKD 2,659,000 in the previous year[20]. - Commission from brokerage services dropped by about 42.8% from approximately HKD 2,659,000 to about HKD 1,521,000 due to reduced trading volumes[35]. - Interest income from securities and IPO financing fell by approximately 42.3% from about HKD 3,919,000 to about HKD 2,260,000 due to weak demand[35]. Other Income and Expenses - The company reported other income of HKD 2,411,000 for the nine months ended September 30, 2022, an increase from HKD 1,317,000 in the same period of 2021[9]. - Other income increased by approximately 83.1% from about HKD 1,317,000 to about HKD 2,411,000, mainly due to interest income from non-listed debt securities[38]. - Administrative and other operating expenses for the nine months ended September 30, 2022, were HKD 22,847,000, slightly decreased from HKD 22,888,000 in the previous year[9]. - Administrative and other operating expenses slightly decreased by about 0.2% from approximately HKD 22,888,000 to about HKD 22,847,000[41]. - Financing costs significantly decreased by approximately 94.7% from about HKD 1,513,000 to about HKD 80,000 due to no interest expenses from IPO bank loans[42]. Equity and Shareholder Information - As of September 30, 2022, total equity attributable to owners was HKD 161,108,000, a decrease from HKD 216,353,000 at the beginning of the year[11]. - The company engaged in share buybacks amounting to HKD 33,785,000 during the nine months ended September 30, 2022[11]. - As of September 30, 2022, the company had a total of 960,000,000 issued shares, with major shareholder Mr. Pan holding 540,685,000 shares, representing approximately 56.32% of the total[55][57][58]. - Mr. Pan's shares are held through Autumn Ocean Limited, which he fully owns, thus he is deemed to have an interest in all shares held by the company[56]. - The company repurchased a total of 233,000,000 ordinary shares at a cost of HKD 32,853,000, equating to HKD 0.141 per share, and subsequently cancelled all repurchased shares[69]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance, adhering to the principles and code provisions set out in the GEM Listing Rules[72]. - The company has confirmed compliance with the non-competition agreements during the reporting period, with satisfactory evaluations from the audit committee regarding adherence to these commitments[66][67]. - The audit committee reviewed the group's unaudited condensed consolidated financial statements and found that the performance met applicable accounting standards and GEM listing rules[76]. - The company has not identified any violations of the trading standards by directors during the reporting period[68]. - The company has confirmed that the roles of the chairman and CEO are not separated, which is a deviation from the corporate governance code[72]. Market Conditions - The Hang Seng Index fell approximately 26.4% from about 23,398 points on December 31, 2021, to about 17,223 points on September 30, 2022, and further declined to around 14,687 points by October 31, 2022, marking the lowest level since April 2009[44]. - The US, Europe, and UK inflation rates were reported at 8.2%, 9.9%, and 13.2% respectively in September 2022, leading to tightening monetary policies by global central banks[44]. Acquisitions and Changes - The company completed the acquisition of 25% of RS (BVI) for HKD 32,853,000, issuing 233,000,000 shares at HKD 0.141 per share as payment[46]. - The guaranteed profit from RaffAello Holdings for the fiscal year ending March 31, 2022, was set at no less than HKD 15,500,000, but the actual unaudited profit was less than HKD 1,000,000[47][48]. - Following negotiations, the company and RaffAello Holdings agreed to a settlement on June 16, 2022, regarding the acquisition and share repurchase[48]. - The company’s name changed from "RaffAello-Astrum Financial Holdings Limited" to "Astrum Financial Holdings Limited" effective October 10, 2022, with the stock trading symbol changing to "ASTRUM FIN" from "RAFFAELLOASTRUM" on October 13, 2022[52]. - The company proposed a share consolidation on November 1, 2022, merging every ten existing shares into one new share with a par value of HKD 0.1[53].

（股份代號：8333） 有關截至二零二一年十二月三十一日止年度之 年度報告的補充公告 茲提述RaffAello-Astrum Financial Holdings Limited（「本公司」）於二零二二年三月三十日刊發的本公司 截至二零二一年十二月三十一日止年度之年度報告（「二零二一年報」）。除文義另有所指外，本公告所 用詞彙與二零二一年報所界定者具相同涵義。 香港交易及結算所有限公司及香港聯交交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 RaffAello-Astrum Financial Holdings Limited （於開曼群島註冊成立的有限公司） 除二零二一年報提供的資料外，董事欲提供有關截至二零二一年十二月三十一日止年度內授出的購股 權的進一步資料，載於二零二一年報第 37 頁「購股權計劃」一節內。 誠如二零二一年報所披露，本公司根據該計劃向其客戶及一個商業夥伴（即非僱員承授人）授予 24,000,000 份購股權，具體如下： | | 授出之購股 | | | --- | ...

Financial Performance - Revenue for the six months ended June 30, 2022, was approximately HKD 3,931,000, a decrease of 49.1% compared to HKD 7,718,000 for the same period in 2021[8]. - The total loss attributable to owners for the six months ended June 30, 2022, was approximately HKD 22,722,000, compared to HKD 8,393,000 for the same period in 2021, representing a 170.5% increase in losses[8]. - Basic loss per share for the six months ended June 30, 2022, was approximately HKD 1.90, compared to HKD 0.92 for the same period in 2021, indicating a significant decline in performance[8]. - For the six months ended June 30, 2022, the company reported a total comprehensive loss of HKD 22,722,000, compared to a loss of HKD 8,393,000 for the same period in 2021, representing an increase in loss of approximately 171%[15]. - The company reported a pre-tax loss of HKD 22,722,000 for the six months ended June 30, 2022, compared to a loss of HKD 8,393,000 in the same period of 2021[37]. - Total revenue for the three months ended June 30, 2022, was HKD 2,033,000, a decrease of 38% compared to HKD 3,279,000 for the same period in 2021[28]. - Client contract income for the three months ended June 30, 2022, was HKD 1,382,000, a decline of 43% from HKD 2,406,000 in 2021[30]. - Client contract income for the six months ended June 30, 2022, was HKD 2,635,000, down 47% from HKD 4,959,000 in the same period last year[30]. Assets and Liabilities - Non-current assets as of June 30, 2022, totaled approximately HKD 26,106,000, a decrease of 41.5% from HKD 44,584,000 as of December 31, 2021[12]. - Current assets decreased to approximately HKD 200,016,000 as of June 30, 2022, from HKD 288,720,000 as of December 31, 2021, reflecting a decline of 30.7%[12]. - Total assets as of June 30, 2022, were approximately HKD 259,684,000, down from HKD 333,304,000 as of December 31, 2021, representing a decrease of 22.1%[12]. - The company's equity attributable to owners decreased to approximately HKD 193,631,000 as of June 30, 2022, from HKD 216,353,000 as of December 31, 2021, a decline of 10.5%[13]. - Trade receivables as of June 30, 2022, were approximately HKD 67,050,000, down from HKD 81,528,000 as of December 31, 2021, indicating a decrease of 17.8%[12]. - The company's total cash and cash equivalents decreased by HKD 16,428,000 during the period, compared to a decrease of HKD 48,457,000 in the same period of the previous year[17]. - The total cash and bank balances amount to approximately HKD 108,983,000, down from HKD 165,562,000 as of December 31, 2021, primarily due to net withdrawals of HKD 40,151,000 and cash used in operating activities of HKD 15,223,000[87]. - The group has no debt as of June 30, 2022, consistent with the situation as of December 31, 2021, making the debt-to-asset ratio not applicable[87]. Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2022, was HKD 15,223,000, a significant improvement from HKD 505,171,000 used in the same period in 2021[17]. - The company’s financing activities resulted in a net cash outflow of HKD 1,230,000 for the six months ended June 30, 2022, compared to a net inflow of HKD 461,797,000 in the same period of 2021[17]. - The company reported a significant decrease in financing costs, which fell to HKD 40,000 for the six months ended June 30, 2022, compared to HKD 1,201,000 for the same period in 2021[10]. - The company’s total equity as of June 30, 2022, was HKD 193,631,000, a decrease from HKD 216,353,000 as of January 1, 2022, reflecting a decline of approximately 10.5%[15]. Share Capital and Ownership - The company’s share capital increased from HKD 9,600,000 to HKD 11,930,000 due to the issuance of new shares[15]. - The issued and paid-up share capital as of June 30, 2022, was HKD 11,930,000, with 1,193,000,000 ordinary shares issued[56]. - As of June 30, 2022, the total number of issued shares was 1,193,000,000, with significant shareholders holding substantial stakes, including 532,685,000 shares (44.65%) held by Autumn Ocean Limited[101][103]. - Major shareholders include Ms. Liao Mingli with 540,685,000 shares (45.32%) and Mr. Zeng Jianxiong with 233,000,000 shares (19.53%)[101][103]. - The company has a significant concentration of ownership, with the top shareholders holding over 84% of the total shares[101][103]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance, although it has not separated the roles of Chairman and CEO as recommended[117]. - The board currently consists of 6 members, including 3 executive directors and 3 independent non-executive directors, ensuring diverse expertise[119]. - The audit committee reviewed the unaudited consolidated results for the period and confirmed compliance with applicable accounting standards and GEM Listing Rules[122]. - The company has confirmed compliance with non-competition agreements during the specified periods, ensuring adherence to competitive practices[111]. Market Conditions and Future Outlook - The management anticipates continued risks and uncertainties in the global and Hong Kong stock markets due to factors such as the ongoing Russia-Ukraine war and rising global inflation[79]. - The company faced delays in recognizing revenue from RCL-driven income and other underwriting commissions due to adverse operating conditions[128]. - The company anticipates that market trends and conditions will not deviate significantly from general economic forecasts[136]. Impairment and Valuation - The impairment loss on investments in associates amounted to approximately HKD 14.7 million for the fiscal year 2021[129]. - The recoverable amount of the investment in the associate was determined to be lower than its carrying value, necessitating the impairment[129]. - The valuation report indicated that the market method was not appropriate due to the unpredictability of RSL's project portfolio impacted by the COVID-19 pandemic[143]. - The board acknowledged that the income approach is more suitable for evaluating the recoverable amount of the investment in the joint venture under HKAS 36[142].

RaffAello-Astrum FinancialHoldingsLimited 中期報告 2022 RaffAello-Astrum Financial Holdings Limited • 中期報告 2022 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主板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之證券承受較大的市場 波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示概不就因本報告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔 任何責任。 本報告的資料乃遵照聯交所 GEM 證券上市規則（「 GEM 上市規則」）而刊載，旨在提供有關 RaffAello- Astrum Financial Holdings Limited （「本公司」）的資料；本公司的董 ...

RaffAello-Astrum FinancialHoldingsLimited 第一季度報告 2022 RaffAello-Astrum Financial Holdings Limited • 第一季度報告 2022 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主板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之證券承受較大的市場 波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示概不就因本報告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔 任何責任。 本報告的資料乃遵照聯交所 GEM 證券上市規則（「 GEM 上市規則」）而刊載，旨在提供有關 RaffAello- Astrum Financial Holdings Limited （「本公司」）的資料；本公 ...

Financial Performance - The company recorded a total loss and comprehensive expenses of approximately HKD 8.9 million for the year ended December 31, 2021, compared to a loss of about HKD 2.1 million for the year ended December 31, 2020[11]. - Revenue from placement and underwriting commissions decreased by approximately HKD 30.9 million due to reduced IPO activity and market pessimism[9]. - The total revenue for the year ended December 31, 2021, was approximately HKD 12.9 million, a decrease of about 73.0% compared to HKD 47.8 million for the year ended December 31, 2020[26]. - The group reported a pre-tax loss of HKD 8.4 million for the year, an increase of 327.6% compared to a loss of HKD 1.97 million in 2020[24]. - The revenue from asset management services decreased by approximately 26.1% to HKD 1.7 million from HKD 2.3 million in 2020[27]. - Other income decreased by approximately 26.9% to HKD 1.9 million, primarily due to the absence of government subsidies received in the previous year[28]. - Interest income from securities and IPO financing was approximately HKD 4.6 million, a decrease of about 39.5% from HKD 7.6 million in the previous year[21]. - The company recorded a net gain of approximately HKD 23.1 million from fair value changes of financial assets, compared to HKD 0.5 million in the previous period[30]. - The total cash and bank balances amounted to approximately HKD 165.6 million in 2021, down from HKD 196.6 million in 2020, due to cash used in operating activities of approximately HKD 12.9 million and purchases of debt securities totaling HKD 12.0 million[53]. - The company recorded a loss of approximately HKD 8.9 million for the year, compared to a loss of HKD 2.1 million in the previous period[36]. Business Strategy and Operations - The company plans to focus on placement and underwriting services and corporate finance advisory services while continuing to support brokerage services and IPO financing as ancillary services[13]. - The company completed the acquisition of 25% of RS (BVI) Holdings Limited for HKD 32,853,000, aiming to expand its placement and underwriting business through collaboration with RS (BVI)'s subsidiaries[10]. - The company’s subsidiary, New Power Capital Limited, obtained a money lending license in December 2021 to diversify income sources[37]. - The group completed 7 placement mandates in the year, generating revenue of approximately HKD 1.4 million, down from HKD 1.9 million in 2020[19]. - The company has changed its English name to "RaffAello-Astrum Financial Holdings Limited" and its stock abbreviation to "RAFFAELLOASTRUM" effective from October 29, 2021[61]. - The group’s main business remains unchanged, focusing on investment holding and providing brokerage, underwriting, corporate finance advisory, financing, and asset management services[135]. Market Conditions - The Hang Seng Index fell by approximately 14.1% by the end of 2021, reflecting the overall performance challenges in the Hong Kong financial market[9]. - The number of new listed companies in Hong Kong decreased by approximately 36.4% to 98 in 2021, with total fundraising amounting to approximately HKD 331.3 billion, down 17.2% from the previous year[24]. - The global economic growth is projected to slow to 4.4% in 2022 from 5.9% in 2021, influenced by various factors including the pandemic and inflation[39]. Risk Management - The group faces various financial risks, including credit risk and liquidity risk, with a focus on minimizing potential adverse impacts on financial performance[67]. - To mitigate credit risk, the management has established a team to set trading limits and monitor receivables, significantly reducing credit risk[68]. - The group complies with regulatory liquidity requirements and has monitoring systems in place to ensure sufficient liquidity for business obligations[69]. - The board is responsible for assessing the nature and extent of risks acceptable in achieving strategic objectives and ensuring effective risk management and internal control systems are in place[123]. - The group has implemented a risk management framework to identify, assess, and manage key business risks, ensuring effective control in line with the group's risk appetite[124]. Corporate Governance - The company has adopted and complied with the corporate governance code as of December 31, 2021, with the exception of deviation from code provision A.2.1[87]. - The board consists of 7 members, including 4 executive directors and 3 independent non-executive directors, ensuring compliance with GEM listing rules[90]. - The company aims to provide long-term value to shareholders while balancing the interests of a wide range of stakeholders[90]. - The independent non-executive directors bring over 20 years of experience in financial reporting and accounting, enhancing the board's expertise[82]. - The company has a strong internal control and corporate governance framework to promote accountability and transparency[87]. - The company has established three board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee to oversee special matters[98]. - The company has arranged suitable insurance plans covering legal liabilities arising from company activities for its directors and senior officers[178]. Shareholder Relations - The group has adopted a shareholder communication policy to ensure timely and equal access to comprehensive information for shareholders and potential investors[127]. - The group encourages shareholders to actively engage with the board and management during annual general meetings[128]. - The group has established procedures for shareholders to propose resolutions for consideration at special general meetings[132]. - The company has no predetermined dividend payout ratio, and any dividend declaration is subject to board approval based on various financial and operational factors[122]. Employee Relations - As of December 31, 2021, the company had 30 employees, with total employee costs of approximately HKD 17.7 million[42]. - The company maintained strong relationships with employees, customers, and business partners, with no complaints received during the year[165]. Related Party Transactions - The group engaged in related party transactions, including a significant acquisition that constituted a discloseable transaction under GEM listing rules, with a percentage exceeding 5% but below 25%[191]. - The maximum annual limit for financing services provided to the Pan family was set at HKD 80 million, with actual transactions approximating HKD 76.995 million[194]. - The maximum annual limit for interest payments to the Pan family was set at HKD 2.3 million, with actual payments amounting to HKD 682,000[194]. - The company conducted related party transactions that required disclosure and independent shareholder approval, with the total annual limit exceeding HKD 10 million[199]. - The independent shareholders approved the financing service agreements at a special meeting held on September 24, 2020[199]. Environmental Commitment - The company is committed to environmental protection through green office measures, including energy-efficient lighting and resource conservation[164].

RaffAello-Astrum Financial Holdings Limited • 第三季度報告 2021 香港聯合交易所有限公司（「 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM之定位，乃為中小型公司提供一個上市的市場 乃為中小型公司提供一個上市的市場 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主板上市的公司帶有較高 此等公司相比起其他在主板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 有意投資的人士應了解投資於該等公司的潛在風險 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 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， 上市公司普遍為中小型公司，在GEM買賣之證券可能會較於主板買賣之證券承受較大之市場 波動風險，同時無法保證在 同時無法保證在GEM買賣之證券會有高流通量之市場。 買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本報告全部或任何部份內容而產生或因倚賴該等內容而引致的 ...

阿仕特朗金融控股有限公司‧中期報告 2021 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM之定位，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主板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買賣之證券可能會較於主板買賣之證券承受較大之市場波動風險， 同時無法保證在GEM買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確 表示，概不對因本報告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告包括的資料乃遵照 GEM 證券上市規則（「 GEM 上市規則」）的規定而提供有關阿仕特朗金融控股有限公司 （「本公司」）的資料。本公司董事（「董事」）願就本報告共同及個別承擔全部責任。董事在作出一切合理查 詢後確認，就彼等所知及所信，本報告所載的資料在各重大方面均屬準確完整，且無誤導或欺騙成份，及本報告 並無遺漏其他事實致使本報告所載任何陳述或本報告產生誤導。 本報告將於香港聯合交 ...

Financial Performance - For the three months ended March 31, 2021, the revenue was approximately HKD 4.4 million, a decrease of 50.7% compared to HKD 9.0 million for the same period in 2020[6]. - The loss attributable to owners of the company for the three months ended March 31, 2021, was approximately HKD 4.1 million, compared to a profit of HKD 1.1 million for the same period in 2020[6]. - The basic loss per share for the three months ended March 31, 2021, was approximately HKD 0.47, compared to a basic earnings per share of HKD 0.13 for the same period in 2020[6]. - The total comprehensive loss for the three months ended March 31, 2021, was approximately HKD 4.1 million, compared to a total comprehensive income of HKD 1.1 million for the same period in 2020[7]. - The company reported a significant decrease in client contract income, with revenue recognized at a point in time dropping to HKD 1,428,000 from HKD 7,101,000 year-over-year[20]. - The company recorded a loss of approximately HKD 4.1 million for the period, compared to a profit of approximately HKD 1.1 million in the same period last year[38]. Revenue Breakdown - Total revenue for the three months ended March 31, 2021, was HKD 4,439,000, a decrease of 50.6% compared to HKD 8,978,000 for the same period in 2020[19]. - Brokerage service commission revenue increased to HKD 1,083,000, up 142.5% from HKD 447,000 in the previous year[19]. - Revenue from placement and underwriting services dropped significantly by approximately 95.5% to about HKD 0.3 million, with three placements completed compared to five in the same period last year[31]. - Interest income from securities and IPO financing rose by approximately 72.7% to about HKD 1.9 million, due to increased demand for guaranteed financing services[31]. - Other income for the three months ended March 31, 2021, was HKD 1,006,000, an increase of 57.4% from HKD 639,000 in 2020[22]. - Asset management service fees increased by approximately 22.6% to about HKD 402,000, with performance fees recognized for the Astrum Absolute Return China Fund[32]. Expenses and Costs - The company’s administrative and other operating expenses for the three months ended March 31, 2021, were HKD 8.6 million, slightly higher than HKD 8.3 million for the same period in 2020[7]. - The company incurred total employee benefit expenses of HKD 5,628,000, an increase of 17.7% from HKD 4,778,000 in the previous year[23]. - The company’s financing costs increased to HKD 945,000 for the three months ended March 31, 2021, from HKD 169,000 for the same period in 2020[7]. - Financing costs increased by approximately 459.2% to about HKD 945,000, primarily due to IPO loans from a bank[37]. Dividends and Shareholder Information - The company did not recommend the payment of an interim dividend for the three months ended March 31, 2021, compared to an interim dividend of HKD 0.005 per share for the same period in 2020[6]. - The company does not recommend the distribution of an interim dividend for the period ending March 31, 2021[42]. - As of March 31, 2021, the major shareholder, Ms. Liao Mingli, holds 540,685,000 shares, representing approximately 56.32% of the total issued shares of 960,000,000[48]. - The total number of unexercised share options as of March 31, 2021, is 80,000,000[49]. Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by Mr. Pan Ji[57]. - The audit committee, chaired by an independent non-executive director, has reviewed the unaudited condensed consolidated financial statements for the period and found them compliant with applicable accounting standards[59]. - The company has confirmed compliance with the non-competition agreement during the period from January 1, 2021, to March 31, 2021[53]. - No directors or major shareholders have interests in any business that competes directly or indirectly with the company's operations as of March 31, 2021[52]. - The company has not established any arrangements for directors and senior management to acquire shares or debt securities during the reporting period[51]. - The company has not disclosed any circumstances that would trigger disclosure obligations under GEM Listing Rules as of March 31, 2021[58]. Market Outlook - The management anticipates global growth of 6% in 2021, with China's economic growth target set at 6% or above, but acknowledges ongoing risks and uncertainties[40].

Financial Performance - The company recorded a total loss of approximately HKD 2.1 million for the fiscal year ending December 31, 2020, compared to a profit of HKD 12.0 million for the previous year[7]. - Total revenue for the year ended December 31, 2020, was approximately HKD 47.8 million, an increase of about 5.3% from HKD 45.4 million in the previous year[21]. - The company reported a loss before tax of HKD 1,971,000 compared to a profit of HKD 14,143,000 in 2019, indicating a substantial decline[193]. - The net loss for the year was HKD 2,121,000, a decrease from a profit of HKD 12,012,000 in the previous year[193]. - Basic and diluted loss per share was HKD 0.27, down from earnings of HKD 1.50 per share in 2019[193]. - Other income rose significantly to HKD 2,624,000 from HKD 881,000, marking a 197.3% increase[193]. Market Overview - The average daily turnover in the Hong Kong securities market increased by 48.5% to HKD 129.5 billion in 2020, compared to HKD 87.2 billion in 2019[10]. - The number of new listed companies decreased by 15.8% to 154 in 2020, while the total funds raised increased by 26.5% to HKD 397.5 billion[10]. - The number of placement transactions rose by 52.8% to 275, with total funds raised increasing by 193.9% to HKD 290.7 billion[10]. - The Hang Seng Index fell by 3.4% to 27,231 points as of December 31, 2020[10]. Business Strategy - The company plans to focus on placement and underwriting services as well as corporate finance advisory services moving forward[8]. - The company expressed cautious optimism regarding future business development and overall performance despite ongoing economic challenges[8]. - The company is committed to exploring new business ventures and maximizing returns for shareholders in a challenging year[8]. - The company plans to adopt a prudent and balanced risk management approach to regularly review and adjust its business strategies in response to the uncertain global economic outlook[28]. Financial Position - As of December 31, 2020, the total assets of the group were approximately HKD 282.6 million, an increase from approximately HKD 264.0 million in 2019, primarily due to trade receivables of approximately HKD 22.9 million from the subscription of new shares in the IPO[33]. - The total equity attributable to the owners of the company was approximately HKD 173.4 million, a decrease from approximately HKD 183.5 million in 2019, mainly due to a loss and total comprehensive expenses of approximately HKD 2.1 million and interim dividends of HKD 8.0 million paid during the year[33]. - The net current assets decreased by approximately 6.3% to about HKD 165.7 million, with the current ratio dropping from approximately 3.2 times in 2019 to about 2.5 times in 2020 due to a 37.4% increase in current liabilities[40]. - The total cash and bank balances amounted to approximately HKD 196.6 million, down from approximately HKD 209.7 million in 2019, primarily due to a decrease of approximately HKD 48.6 million in general account balances[40]. Corporate Governance - The company reported a commitment to high levels of corporate governance, adhering to the GEM Listing Rules Appendix 15, with a focus on accountability and transparency[62]. - The board consists of 5 members, including 2 executive directors and 3 independent non-executive directors, ensuring diverse expertise for effective oversight[65]. - The company emphasizes the importance of robust internal controls and effective governance practices to drive long-term shareholder value[62]. - The company has established three board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee to oversee specific aspects of its affairs[74]. Risk Management - The group has implemented a credit risk management team to minimize potential financial losses from counterparty defaults[45]. - The company is committed to ensuring appropriate risk and internal control systems are in place to comply with relevant laws and regulations[68]. - The board believes that the risk management and internal control systems are adequate and effective, with no significant weaknesses identified during the review[92]. Shareholder Information - The company has no predetermined dividend payout ratio, and any interim or final dividend decisions require board approval based on factors such as financial performance and capital requirements[90]. - The company declared a first-quarter dividend of HKD 0.005 per share, totaling HKD 4.0 million, consistent with the previous year[106]. - The second-quarter dividend was set at HKD 0.0025 per share, totaling HKD 2.0 million, down from HKD 4.0 million in the previous year[106]. - The third-quarter dividend remained at HKD 0.0025 per share, totaling HKD 2.0 million, also a decrease from HKD 4.0 million in the previous year[107]. Related Party Transactions - The company confirms compliance with GEM Listing Rules regarding the disclosure of related party transactions[152][158]. - The independent non-executive directors have reviewed the related party transactions and confirmed they are conducted on normal commercial terms and in the interest of shareholders[161]. - The company’s auditor has issued an unqualified opinion on the related party transactions disclosed in the report[160].