Astrum Financial Holdings Limited 阿仕特朗金融控股有限公司 第一季度報告 2019 • 阿仕特朗金融控股有限公司 概要 第一季度 報告 2019 阿仕特朗金融控股有限公司 • 第一季度報告 2019 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 ...

Financial Performance - The total revenue for the year 2018 was approximately HKD 50.0 million, a decrease of about 13.9% compared to the previous fiscal year[10]. - The profit attributable to the owners of the company for the year was approximately HKD 22.5 million, a decrease of about 1.7% year-on-year[10]. - Total revenue for the year was approximately HKD 50.0 million, a decrease of about 13.9% compared to HKD 58.1 million in the previous year[28]. - Profit for the year decreased by approximately HKD 0.4 million or about 1.7% to approximately HKD 22.5 million from approximately HKD 22.9 million in the same period last year[34]. - The company achieved a pre-tax profit of HKD 26.8 million, a slight decrease of about 2.9% from HKD 27.6 million in the previous year[26]. - Net profit attributable to owners for the year was HKD 22,485,000, compared to HKD 22,865,000 in the previous year, a decrease of 1.7%[194]. - Profit before tax for 2018 was HKD 26,785,000, slightly down by 2.9% from HKD 27,597,000 in 2017[194]. - Basic and diluted earnings per share for 2018 were HKD 2.81, down from HKD 2.86 in 2017[194]. Market Activity - The number of new listed companies in Hong Kong increased by 25% to 218 in 2018, with total funds raised soaring by 124.1% to HKD 288 billion[12]. - The average daily turnover in the Hong Kong securities market rose by 21.8% to HKD 107.4 billion in 2018[12]. - The Hang Seng Index fell by 13.6% to 25,846 points by the end of 2018, marking the worst performance in seven years[9]. - The number of placement transactions decreased by 23.5% to 235, with total funds raised dropping by 58.7% to HKD 140.3 billion[12]. Revenue Sources - Brokerage service commission income decreased by approximately 34.5% to about HKD 7.2 million from HKD 11.0 million in the previous year[29]. - The number of completed placements and underwriting appointments dropped from 20 to 11, resulting in a revenue decrease from approximately HKD 31.9 million to HKD 27.2 million, a decline of about 14.7%[29]. - Corporate finance advisory service fees increased by approximately 191.9% to about HKD 10.8 million, driven by an increase in appointments from 15 to 23[29]. - Interest income from securities and IPO financing decreased by approximately 69.7% to about HKD 2.7 million from HKD 8.9 million in the previous year due to weak demand[29]. Assets and Liabilities - Total assets decreased to approximately HKD 226.6 million from approximately HKD 266.8 million in the previous year, primarily due to a decrease in trust bank balances by approximately HKD 40.9 million[40]. - Current assets decreased by approximately 15.7% to HKD 211.9 million from HKD 251.3 million in the previous year[26]. - The group's net current assets were approximately HKD 168.8 million, with a current ratio of about 4.9 times, up from approximately 2.7 times in the previous year[47]. - Trade receivables dropped significantly from HKD 74,627,000 in 2017 to HKD 39,744,000 in 2018, representing a decrease of about 47%[196]. - Cash and cash equivalents in general accounts increased from HKD 99,198,000 in 2017 to HKD 135,099,000 in 2018, an increase of about 36%[196]. - Trade payables decreased from HKD 92,089,000 in 2017 to HKD 38,349,000 in 2018, a decline of approximately 58%[196]. Dividends - The company declared an interim dividend of HKD 0.005 per share for the first three quarters of 2018[10]. - The company declared dividends totaling HKD 12,000,000 for the year 2018, compared to HKD 8,000,000 in 2017, representing a 50% increase in dividends paid[198]. - The company has no predetermined dividend payout ratio, and any declaration of interim or final dividends is subject to board approval based on various factors including financial performance and capital requirements[94]. - The company declared a first-quarter dividend of HKD 0.005 per share, totaling HKD 4 million, consistent with the previous year[112]. - The second-quarter dividend was also set at HKD 0.005 per share, amounting to HKD 4 million, which was an increase from the previous year where no dividend was declared[112]. - The third-quarter dividend remained at HKD 0.005 per share, totaling HKD 4 million, unchanged from the prior year[113]. - The board did not recommend a final dividend for the year, contrasting with the previous year where no final dividend was declared[114]. Corporate Governance - The company has adopted and complied with the corporate governance code as per GEM Listing Rules Appendix 15, except for deviation from code provision A.2.1[67]. - The board consists of 5 members, including 2 executive directors and 3 independent non-executive directors, ensuring compliance with GEM Listing Rules[70]. - The board is responsible for leading and monitoring the group, aiming to maximize long-term value for shareholders while balancing the interests of various stakeholders[70]. - The remuneration committee, chaired by an independent non-executive director, has reviewed the remuneration of directors and senior management, deeming it fair and reasonable for the year[80]. - The nomination committee will continue to review the need for recruiting competent staff to expand the group's business[81]. - The company emphasizes the importance of a diverse board, considering factors such as gender, age, cultural background, and professional qualifications[77]. - The board has established three committees: remuneration, nomination, and audit, to oversee specific aspects of the company's affairs[79]. - The independent non-executive directors have confirmed their independence as per GEM Listing Rules, ensuring no conflicts of interest with the company[75]. - The chairman and CEO roles are combined, which the board believes provides strong and consistent leadership for the group[69]. - The company is committed to maintaining high standards of corporate governance to enhance stakeholder confidence and support[68]. Risk Management - The group faced various financial risks, including credit risk and liquidity risk, focusing on reducing potential adverse impacts on financial performance[51]. - The group faces credit risk, which may lead to financial losses due to counterparties failing to fulfill their obligations[52]. - Management has established a team to set transaction limits and approval processes to minimize credit risk[52]. - The group regularly reviews the recoverable amounts of individual receivables to ensure adequate impairment losses are recognized[52]. - The board is responsible for evaluating the nature and extent of risks acceptable in achieving strategic objectives and ensuring effective risk management and internal control systems are in place[95]. - The internal control system was reviewed by management, and no significant weaknesses were identified during the assessment conducted by external consultants[96]. - The company has been actively enhancing its internal controls and risk management in response to regulatory feedback, with independent reviews conducted[98]. - The board is committed to ensuring effective risk management and internal controls through regular meetings and oversight[96]. Compliance and Regulatory Matters - The company has maintained compliance with all relevant laws and regulations throughout the year[130]. - The company has adopted a shareholder communication policy to ensure timely and comprehensive information dissemination to shareholders and potential investors[100]. - The company has established procedures for shareholders to convene special meetings, ensuring transparency and accessibility[102]. - The company has been proactive in addressing compliance and risk management concerns raised by regulatory authorities[98]. - The company has confirmed compliance with the GEM Listing Rules regarding continuous related party transactions[158]. - The independent auditor, Guo Wei CPA Limited, has been proposed for reappointment at the upcoming 2019 annual general meeting[173]. - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards and reflect a true and fair view of the group's financial position as of December 31, 2018[177]. Shareholder Information - As of December 31, 2018, the distributable reserves available for shareholders were approximately HKD 80.4 million, an increase from HKD 78.8 million in 2017[122]. - The largest customer accounted for approximately 20.2% of the total revenue, while the top five customers represented about 56.7% of total revenue[116]. - The company maintains a sufficient public float of at least 25% as required by GEM listing rules[171]. - No arrangements were made during the year for directors and senior management to acquire shares or bonds of the company or its subsidiaries[167]. - There were no significant transactions or contracts involving directors with substantial interests during the year[169]. - The company has not changed its auditor in the past three years[174]. Employee Relations and Charitable Activities - The group organized various activities to enhance employee relationships, including sports and health events[135]. - Charitable donations made by the group during the year totaled approximately HKD 16,000[136]. - There were no complaints received from customers or business partners during the year[135].