6月6日，截至港股收盘，恒生指数下跌0.48%，报23792.54点。紫荆国际金融（08340.HK）收报0.44港 元/股，上涨90.48%，成交量190.92万股，成交额74.51万港元，振幅77.92%。 大事提醒 2025年6月5日，拟配售1111万新股份，占扩大后股本16.67%，每股配售价0.19港元，较前一收市日折价 17.75%(预案) 最近一个月来，紫荆国际金融累计涨幅16.08%，今年来累计跌幅60.07%，跑输恒生指数19.18%的涨 幅。 财务数据显示，截至2024年12月31日，紫荆国际金融实现营业总收入3783.06万元，同比增长143.91%； 归母净利润-229.38万元，同比增长36.94%；资产负债率19.37%。 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，其他金融行业市盈率（TTM）平均值为24.59倍，行业中值-0.13倍。紫荆国际金融市盈 率-5.18倍，行业排名第121位；其他东方汇财证券（08001.HK）为1.93倍、招商局中国基金 （00133.HK）为2.28倍、国银金租（01606.HK）为3.35倍、香港信贷（01273.HK）为 ...

Financial Performance - The group's consolidated revenue for the year ended December 31, 2024, was approximately HKD 40.84 million, a significant increase from HKD 16.73 million in 2023[14]. - Revenue from the online gaming segment contributed HKD 20.67 million, compared to zero in the previous year, with key titles including "Jinxiu Jianghu" generating HKD 14.53 million[18]. - The group reported a loss attributable to shareholders of approximately HKD 2.48 million, a reduction of about 36.9% from a loss of HKD 3.93 million in 2023[18]. - The group established a luxury car fleet for its car rental business, generating revenue of HKD 4.42 million in 2024, up from HKD 0.053 million in 2023[17]. - Total assets increased to approximately HKD 92.70 million as of December 31, 2024, compared to HKD 42.76 million in 2023[19]. - The group's net asset value rose to approximately HKD 74.75 million, up from HKD 24.58 million in 2023[19]. - The group’s cash and cash equivalents amounted to HKD 13.23 million as of December 31, 2024[20]. - The group’s current assets net value and current ratio were HKD 26.70 million and 2.6 times, respectively, compared to HKD 10.91 million and 1.6 times in 2023[20]. - The group’s total borrowings amounted to HKD 11.47 million as of December 31, 2024, down from HKD 16 million in 2023[25]. - The group did not recommend any dividend payment for the year ended December 31, 2024, consistent with the previous year[45]. Business Operations - In 2024, the company completed over 23 projects in the corporate finance advisory sector despite a challenging market environment[7]. - The number of new companies listed on the Hong Kong Stock Exchange's main board in 2024 was 71, a slight increase of approximately 1.4% from 70 in 2023[7]. - The company established two open-ended fund companies, with assets under management reaching HKD 20 million as of December 31, 2024[8]. - The company expanded its car rental business in the Greater Bay Area, operating a fleet of eight luxury vehicles, all successfully rented out[9]. - The company launched six online games, with five released in 2024, including titles like "Jinxiu Jianghu" and "Wulin Xianxia" targeting various international markets[10]. - The group plans to raise up to HKD 53.80 million through a rights issue, with net proceeds allocated for debt repayment, enhancing the car fleet, and expanding the online gaming business[25]. - The group plans to expand its market share in the car rental industry by actively sourcing suitable vehicles to enhance its fleet[35]. - The group aims to diversify its revenue sources by obtaining additional online gaming licenses and establishing an internal team for licensed game operations[35]. - The group will continue to monitor market trends and customer feedback to adjust its products accordingly, ensuring competitiveness in the Greater Bay Area[35]. - The group is focused on improving operational efficiency and effectiveness despite facing intense competition in its business operations[34]. Employee and Management - As of December 31, 2024, the group had 18 employees, with total employee costs amounting to HKD 9.74 million, a decrease from approximately HKD 10.24 million in 2023[27]. - Employee turnover rate increased to 21.7% in 2024 from 13.6% in 2023[133]. - Total number of employees as of December 31, 2024, is 18, with 17 in Hong Kong and 1 in Singapore[134]. - Average training hours per employee remained at 12 hours for male and female employees, with 100% participation in training programs[136]. - Employee benefits include vacation, medical plans, group insurance, and discretionary bonuses[133]. - The company emphasizes continuous professional development, providing on-the-job training and external training opportunities[135]. - The company has adopted a share option scheme to attract and retain qualified personnel, with a maximum share issuance limit of 10% of the total issued shares[55]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report covers all business segments, including financial services in Hong Kong and Singapore, car leasing, and newly launched online gaming business for the fiscal year ending December 31, 2024[86]. - The company emphasizes sustainable development as a core value and has taken significant measures to address ESG challenges and fulfill social responsibilities[90]. - The company aims to minimize environmental impact through responsible resource management and sustainable practices[94]. - The group has implemented a waste management strategy based on the "3R" principles (Reduce, Reuse, Recycle), including the installation of recycling bins in offices[125]. - The group aims to reduce energy consumption and environmental impact through various green operational measures, fostering a culture of sustainability and environmental responsibility[127]. - The group has identified climate change as a significant risk, particularly due to the increasing frequency of extreme weather events, and has implemented comprehensive work arrangements to ensure smooth operations during such events[129]. - The company has conducted a materiality assessment to identify key ESG issues that significantly impact its operations and stakeholders[101]. - Stakeholder engagement is crucial for understanding concerns related to ESG issues, which helps the company identify and assess related risks[97]. - The company focuses on service quality, business integrity, and employee rights as the four main concerns of its stakeholders[106]. Corporate Governance - The company has adhered to the corporate governance code as per GEM Listing Rules Appendix 15 for the fiscal year ending December 31, 2024, with the exception of deviation from code provision A.2.1[147]. - The board of directors held 16 meetings during the fiscal year, with all directors attending all meetings, demonstrating strong governance and oversight[150]. - The company has three independent non-executive directors who ensure compliance with regulatory standards and protect shareholder interests[151]. - The board has established three committees: Nomination Committee, Remuneration Committee, and Audit Committee, to enhance governance practices[152]. - The company is committed to board diversity, considering various factors such as skills, regional and educational background, and industry experience[154]. - All directors have received training on their responsibilities and relevant regulations to ensure compliance with good corporate governance practices[156]. - The company has a policy for re-election of directors, ensuring that all directors are subject to re-election at least every three years[153]. - The independent non-executive directors have confirmed their independence in accordance with GEM Listing Rules, ensuring effective oversight[151]. Audit and Financial Reporting - The independent auditor's report confirms that the consolidated financial statements of the company fairly reflect its financial position as of December 31, 2024[189]. - Key audit matters identified include the assessment of trade receivables impairment, which is significant due to the scale of outstanding balances and the risk of non-recovery[191]. - The auditor's procedures included verifying management's credit control processes and assessing the reasonableness of loss provisions based on historical default data and current economic conditions[194]. - The board of directors is responsible for preparing the financial statements in accordance with applicable accounting standards and ensuring internal controls to prevent material misstatements[197]. - The auditor evaluates the appropriateness of accounting policies adopted by the board and assesses the overall presentation and disclosures in the financial statements[200].

Financial Performance - The group's revenue for the year ended December 31, 2024, was approximately HKD 40.84 million, compared to HKD 16.73 million for the year ended December 31, 2023, representing a growth of 143%[3] - The loss attributable to owners for the year ended December 31, 2024, was approximately HKD 2.48 million, a decrease from a loss of HKD 3.93 million in the previous year, indicating an improvement of 37%[3] - The company reported a basic and diluted loss per share of HKD 0.087 for the year ended December 31, 2024, compared to HKD 0.422 in the previous year, showing a reduction in loss per share[4] - The company recorded a total segment loss before tax of HKD 2,477,000 for the year ended December 31, 2024, compared to a loss of HKD 3,928,000 in 2023, showing an improvement[15] - The group reported a loss attributable to owners of approximately HKD 2.48 million, a decrease of about 36.9% from a loss of HKD 3.93 million in 2023[39] Revenue Breakdown - Revenue from corporate finance advisory and asset management services was HKD 15,259,000, down from HKD 16,200,000 in 2023, a decrease of 5.8%[15] - The network gaming business generated revenue of HKD 20,670,000 in 2024, with no revenue reported in 2023, indicating a new revenue stream[15] - The automotive leasing business reported revenue of HKD 4,421,000, up from HKD 53,000 in 2023, reflecting a substantial growth[15] - Revenue from external customers in Hong Kong was HKD 40,775,000 in 2024, compared to HKD 15,261,000 in 2023, marking a growth of 167%[18] - The network gaming segment contributed HKD 20.67 million to the total revenue, with five games generating revenue for the first time, compared to zero in the previous year[38] Assets and Equity - Non-current assets increased significantly to HKD 49.23 million as of December 31, 2024, from HKD 13.67 million as of December 31, 2023, reflecting a growth of 260%[5] - The total equity of the company reached HKD 74.75 million as of December 31, 2024, up from HKD 24.58 million in the previous year, representing a growth of 204%[5] - The total assets of the group increased to approximately HKD 92.70 million as of December 31, 2024, up from approximately HKD 42.76 million in 2023[40] - The net asset value of the group was approximately HKD 74.75 million, compared to approximately HKD 24.58 million in the previous year[40] Share Capital and Dividends - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2024[3] - The company issued new shares, increasing its share capital to HKD 53.76 million as of December 31, 2024, from HKD 8.96 million in the previous year[6] - The company did not recommend the payment of a final dividend for the years ended December 31, 2024, and 2023[26] Business Expansion - The company expanded its business operations in the automotive leasing and online gaming sectors during the year ended December 31, 2024[7] - The company has expanded its operations to include a new segment in automotive leasing and network gaming, increasing the number of operating segments from three to four[14] - The automotive leasing business expanded in the Greater Bay Area, with a fleet of eight luxury vehicles successfully rented out by December 31, 2024[31] - The company plans to focus on expanding its car rental business in the Greater Bay Area, anticipating increased demand due to government policies[55] Financial Management - The company incurred interest expenses of HKD 1,491,000 in 2024, a significant increase from HKD 402,000 in 2023[5] - The company recorded a depreciation expense of HKD 7,239,000 for owned properties and equipment in 2024, compared to HKD 587,000 in 2023[5] - The total employee costs for the year amounted to HKD 9.74 million, down from approximately HKD 10.24 million in 2023[48] - The company utilized available tax losses to offset taxable profits for the year, resulting in no provision for Hong Kong profits tax[20] Future Outlook - The company anticipates future revenue from customer contracts, although specific figures are not disclosed due to the nature of the contracts[13] - The management maintains a cautiously optimistic outlook for 2025, despite uncertainties in trade policies and geopolitical factors[54] - Future outlook includes potential growth opportunities in emerging markets[60] - The company is exploring new product development and technological advancements[60] - The group aims to enhance its online gaming business by obtaining additional licenses and building an internal team for game operations[55] Corporate Governance and Transparency - The board emphasizes the importance of corporate governance and compliance[60] - The company is committed to transparency and timely disclosure of financial information to stakeholders[60] - The financial results and performance metrics will be detailed in the upcoming reports[60] - The company plans to engage with investors to discuss performance and strategies[60]

| --- | --- | |------------------------|----------------------------| | | | | ZIJING INTERNATIONAL | | | | FINANCIAL HOLDINGS LIMITED | | | | | 紫荊國際金融控股有限公 | 司 | INTERIM REPORT 2024 ZIJING INTERNATIONAL FINANCIAL HOLDINGS LIMITED 紫荊國際金融控股有限公 司 ( 於 開曼 群岛註 賽成立的有限公司 ) 股份代號 : 8340 中期報告 2024 1 紫荊國際金融控股有限公司 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 主板本交易所上市的公司帶有較高投資風險的公司提供一個上市的市場。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新興的性質所然，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 ...

Corporate Financing and Business Development - The company focused on corporate financing services, including advisory, placement, underwriting, and asset management, while also venturing into new businesses such as car leasing and online gaming[8]. - The company completed over 25 projects by December 31, 2023, despite a competitive pricing environment affecting overall performance[11]. - The company anticipates continued growth in the car leasing market due to the Chinese government's Greater Bay Area development plan[14]. - The group plans to expand its online gaming business, which is expected to contribute revenue for the year ending December 31, 2024[15]. - A new car rental business was launched in the Guangdong-Hong Kong-Macao Greater Bay Area at the end of 2023 to meet increasing cross-border transportation demand[38]. Financial Performance - The group recorded a revenue of approximately HKD 16.73 million for the year ended December 31, 2023, a slight decrease of about 0.2% compared to HKD 16.76 million in 2022[18]. - The loss attributable to the owners of the company was approximately HKD 3.93 million, a reduction of about 48.1% from a loss of HKD 7.57 million in 2022[18]. - Employee costs decreased by approximately 26.0% from HKD 13.83 million in 2022 to about HKD 10.24 million in the current year[18]. - The total assets of the group as of December 31, 2023, were approximately HKD 42.76 million, compared to HKD 32.16 million in 2022[20]. - The net asset value of the group was approximately HKD 24.58 million as of December 31, 2023, compared to HKD 24.06 million in 2022[20]. - The group’s cash and cash equivalents amounted to approximately HKD 11.46 million as of December 31, 2023[20]. - The debt-to-equity ratio was 65.1% as of December 31, 2023, indicating a significant reliance on debt financing[55]. - The board does not recommend any dividend payment for the year ended December 31, 2023, consistent with the previous year[54]. Market Environment - In 2023, the number of new listings on the Hong Kong Stock Exchange's main board decreased by approximately 21.3% to 70 companies, compared to 89 in 2022[10]. - The total fundraising amount in Hong Kong in 2023 dropped by about 56% year-on-year, reflecting a challenging market environment[10]. - The company remains cautiously optimistic about the financial market outlook in Hong Kong, supported by gradual economic recovery and new listing reforms[11]. - Management anticipates that the Hong Kong IPO market will gradually stabilize in 2024 due to the reduction of several adverse factors[36]. Corporate Governance - The company reported a commitment to high standards of corporate governance to protect shareholder interests and maintain business integrity[150]. - The board of directors held 21 meetings during the fiscal year ending December 31, 2023, with all executive directors attending all meetings[154]. - The company has three independent non-executive directors who are responsible for developing the group's strategic direction and ensuring compliance with regulatory standards[155]. - The company has established three committees: Nomination Committee, Remuneration Committee, and Audit Committee, all operating under the principles of the corporate governance code[157]. - The board is committed to identifying, monitoring, and managing risks associated with its business activities[190]. Employee Relations and Welfare - The company has established a competitive compensation system and career development opportunities for employees, reflecting its commitment to workforce welfare[106]. - The employee turnover rate decreased to 13.6% in 2023 from 37.0% in 2022[113]. - The company maintained a total of 21 employees, with 18 in Hong Kong and 1 in Singapore as of December 31, 2023[115]. - The average training hours per employee remained at 12 hours for both male and female employees in 2023[117]. - The company emphasizes compliance with labor standards, strictly prohibiting child labor and forced labor[120]. Environmental, Social, and Governance (ESG) Initiatives - The company has implemented significant measures related to employment practices, operational management, and environmental protection to support sustainable development[100]. - The company actively explores green financial services to protect and improve the ecological environment[112]. - The company has implemented a waste management strategy based on the "3R" principle, focusing on reduction, reuse, and recycling[135]. - The group has made steady progress in reducing its carbon footprint, encouraging employees to use public transport and replace unnecessary business travel with conference calls[137]. - The environmental, social, and governance (ESG) report highlights the group's commitment to sustainable practices and community engagement[145]. Risk Management - The group faces significant risks including reliance on key executives, economic and political environment fluctuations, and intense competition in the advisory and car rental markets[48]. - The company has a system in place for internal controls to ensure checks and balances within its governance structure[152]. - The board confirmed that the internal control system is designed to provide reasonable assurance against material misstatements or losses, and is deemed effective[192]. Shareholder Engagement - Shareholders holding at least 10% of the paid-up capital can request a special general meeting within two months of the request[197]. - Procedures for nominating candidates for the board of directors require written notice from a shareholder and acceptance from the nominee[198]. - Shareholders can send written inquiries to the company via fax or mail[200].

Financial Performance - For the year ended December 31, 2023, the group's revenue was approximately HKD 16.73 million, a slight decrease from HKD 16.76 million in 2022[5] - The loss attributable to owners for the year ended December 31, 2023, was approximately HKD 3.93 million, compared to a loss of HKD 7.57 million in 2022, representing a 48% improvement[5] - The group reported a pre-tax loss of approximately HKD 3,928,000 for the year 2023, compared to a loss of HKD 7,569,000 in 2022, indicating a reduction in losses[33] - The company recorded other income of HKD 0.016 million for the year, a significant decrease from HKD 0.233 million in 2022[6] - The company received government subsidies totaling HKD 231,000 in 2022, which were not repeated in 2023, impacting overall revenue[18] Assets and Liabilities - The total assets less current liabilities as of December 31, 2023, amounted to HKD 24.58 million, a decrease from HKD 28.43 million in 2022[7] - The company's cash and cash equivalents as of December 31, 2023, were HKD 11.46 million, down from HKD 13.51 million in 2022[7] - The total assets of the group as of December 31, 2023, were approximately HKD 42.76 million, an increase from HKD 32.16 million in 2022[51] - The group’s total borrowings reached HKD 16 million as of December 31, 2023, compared to none in the previous year[58] Employee Costs - The group reported a decrease in employee costs to HKD 10.24 million in 2023 from HKD 13.83 million in 2022, reflecting a 26% reduction[6] - The group had 19 employees as of December 31, 2023, with total employee costs of approximately HKD 10.24 million[59] Revenue Segments - Revenue from corporate finance advisory services was HKD 16,200,000, down from HKD 16,764,000 in the previous year, while the segment profit increased to HKD 6,867,000 from HKD 5,924,000[22] - Revenue from external customers in Hong Kong increased to HKD 15,261,000 in 2023 from HKD 14,388,000 in 2022, while revenue from Singapore decreased to HKD 1,472,000 from HKD 2,376,000[28] - The automotive leasing segment reported a loss of HKD 202,000 in 2023, while the securities and asset management advisory services segment incurred a loss of HKD 695,000[22] Strategic Initiatives - The company generated new revenue streams from the automotive leasing business and online gaming services in mainland China, marking the establishment of new operating segments[21] - The company plans to issue up to 448,000,000 rights shares at a subscription price of HKD 0.120 per share, aiming to raise a maximum of approximately HKD 53.8 million, with net proceeds estimated at HKD 52.8 million[66] - Approximately HKD 30 million of the net proceeds from the rights issue will be used to repay the group's borrowings, HKD 13 million to enhance the vehicle fleet, HKD 7 million for expanding the online gaming business, and HKD 2.8 million for general operations[66] - The company has established a vehicle rental business in the Guangdong-Hong Kong-Macao Greater Bay Area, anticipating increased demand for private car usage due to policies promoting cross-border traffic[69] - The online gaming business is expected to contribute revenue in the fiscal year ending December 31, 2024, as the group seeks more exclusive gaming licenses[47] Market Conditions - The number of new listings on the Hong Kong Stock Exchange decreased by approximately 21.3% in 2023, with only 70 new companies listed compared to 89 in 2022[42] - The total fundraising amount in Hong Kong dropped by about 56% year-on-year in 2023, reflecting a challenging market environment[42] - Management believes that the Hong Kong IPO market will gradually stabilize in 2024, with increased market liquidity and valuations expected after the end of the interest rate hike cycle[67] Corporate Governance - The company remains committed to maintaining high standards of corporate governance to protect shareholder interests[72] - The company continues to enhance the efficiency and effectiveness of its corporate finance advisory business amid intense competition[67] Accounting and Compliance - The company applied new accounting standards effective from January 1, 2023, but these did not have a significant impact on the financial statements[15] - The company continues to review its accounting estimates and assumptions, which may affect future financial results[13] Dividends - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023[5] - The company did not declare a final dividend for the years ended December 31, 2023, and December 31, 2022[38] Impairment and Receivables - The impairment loss on trade receivables increased to HKD 0.91 million in 2023 from HKD 0.58 million in 2022[6] - Trade receivables increased significantly to HKD 18,239,000 in 2023 from HKD 9,865,000 in 2022, with a net trade receivable of HKD 16,684,000 after accounting for provisions[35]

Financial Performance - For the nine months ended September 30, 2023, the group recorded revenue of approximately HKD 10.56 million, a decrease of about 23.64% compared to HKD 13.83 million for the same period in 2022[7]. - The loss attributable to owners of the company for the nine months ended September 30, 2023, was approximately HKD 4.21 million, compared to a loss of approximately HKD 2.83 million for the same period in 2022[7]. - For the three months ended September 30, 2023, the loss attributable to owners of the company was approximately HKD 0.56 million, contributing to an overall loss of approximately HKD 4.21 million for the nine months[7]. - The group reported a pre-tax loss of approximately HKD 4.21 million for the nine months ended September 30, 2023, compared to a pre-tax loss of approximately HKD 2.83 million for the same period in 2022[10]. - The total comprehensive loss for the nine months ended September 30, 2023, was approximately HKD 4.28 million, compared to HKD 2.84 million for the same period in 2022[10]. - The basic and diluted loss per share for the nine months ended September 30, 2023, was HKD 6.1 cents, compared to HKD 4.4 cents for the same period in 2022[10]. Equity and Dividends - The board of directors does not recommend the payment of a dividend for the nine months ended September 30, 2023, consistent with the previous year[7]. - The group has not declared any dividends for the nine months ended September 30, 2023, consistent with the previous year[20]. - As of September 30, 2023, the total equity attributable to owners of the company was approximately HKD 22.30 million, down from HKD 28.60 million as of September 30, 2022[11]. - The group issued ordinary shares amounting to HKD 1.28 million during the reporting period, increasing total equity[11]. - The total number of ordinary shares of the group as of September 30, 2023, was 76,800,000 shares[27]. Market Conditions and Future Outlook - Hong Kong's IPO activity remains low, with only 42 companies raising approximately USD 3.13 billion in the first nine months of 2023, a 65% year-on-year decline, marking the lowest level since 2003[21]. - Management expects improvements in the Chinese economy in the fourth quarter of 2023 and 2024, which may benefit the group's business performance[24]. - The group has faced challenges in marketing and due diligence due to the COVID-19 pandemic, impacting its operational performance[22]. - The group has maintained frequent communication with existing and potential clients regarding corporate financing opportunities despite a competitive environment[22]. Corporate Governance - The audit committee reviewed the financial statements for the nine months ended September 30, 2023, and confirmed compliance with applicable accounting standards[41]. - The company has established a remuneration committee to review and recommend remuneration policies for directors and senior management[39]. - The company has a nomination committee responsible for developing nomination policies and making recommendations to the board[40]. - The board has maintained a governance structure in compliance with GEM listing rules[38]. - No conflicts of interest were reported among directors and management regarding competitive businesses[33]. Shareholding Structure - Mr. Li Junwei holds 13,879,000 shares, representing 18.07% of the company's equity[31]. - Kerry Investment holds 18,790,000 shares, accounting for 24.47% of the company's equity[32]. - No share options were granted during the reporting period[34]. - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended September 30, 2023[35].

Financial Performance - For the six months ended June 30, 2023, the group recorded revenue of approximately HKD 6.22 million, a decrease of 39.5% compared to HKD 10.35 million for the same period in 2022[7] - The loss attributable to owners of the company for the six months ended June 30, 2023, was approximately HKD 3.65 million, compared to a loss of HKD 1.24 million for the same period in 2022, representing an increase of 194.4%[7] - For the three months ended June 30, 2023, the loss attributable to owners was approximately HKD 1.22 million, contributing to the overall loss for the six months[7] - The company’s total comprehensive expenses for the six months ended June 30, 2023, were approximately HKD 3.81 million, compared to HKD 1.27 million for the same period in 2022[10] - The basic and diluted loss per share for the six months ended June 30, 2023, was HKD 5.6 cents, compared to HKD 2.0 cents for the same period in 2022[10] - The company reported a total loss of HKD (3,647,000) for the six months ended June 30, 2023, compared to a loss of HKD (1,239,000) in the same period of 2022[21] Equity and Cash Position - As of June 30, 2023, the total equity amounted to HKD 22.77 million, a decrease from HKD 24.06 million as of December 31, 2022[11] - The net cash and cash equivalents as of June 30, 2023, were HKD 8.65 million, down from HKD 13.51 million at the end of 2022[11] - Cash and cash equivalents decreased to HKD 8,645,000 at the end of June 30, 2023, from HKD 16,112,000 at the end of June 30, 2022[13] - The company's net current assets as of June 30, 2023, were approximately HKD 18.74 million, slightly down from approximately HKD 19.89 million as of December 31, 2022[42] - The company has maintained a healthy cash position and sufficient operating funds as of June 30, 2023[42] Revenue Breakdown - The segment revenue from corporate finance advisory services decreased to HKD 5,892,000, a decline of 43.5% compared to HKD 10,347,000 in the prior year[21] - Revenue from external customers in Hong Kong was HKD 4,748,000, down 49.3% from HKD 9,345,000 in the same period of 2022[25] - The company incurred a segment loss of HKD (1,050,000) from corporate finance advisory services for the six months ended June 30, 2023, compared to a profit of HKD 5,934,000 in the same period of 2022[21] Shareholder Information - The company did not recommend the payment of any dividend for the six months ended June 30, 2023, consistent with the previous year[7] - The basic loss per share for the six months ended June 30, 2023, was HKD (0.054) based on a weighted average of 67,235,165 shares[28] - The company issued ordinary shares amounting to HKD 2.56 million during the reporting period, increasing the share capital to HKD 7.68 million[12] - As of June 30, 2023, Mr. Li Junwei held 13,879,000 shares, representing an 18.07% stake in the company[53] Operational Insights - The net cash used in operating activities for the six months ended June 30, 2023, was HKD (5,938,000), an improvement from HKD (7,915,000) in the same period of 2022[13] - The company completed a placement of 12,800,000 new shares at a price of HKD 0.20 per share, raising approximately HKD 2.53 million after expenses, which remains unused as of June 30, 2023[45] - The company has no borrowings as of June 30, 2023, maintaining a debt ratio that is not applicable[42] Governance and Compliance - The company has established a remuneration committee to review and recommend the remuneration policies for directors and senior management[64] - The company has complied with the corporate governance code, with a noted deviation regarding the roles of the chairman and CEO being held by the same individual due to the company's relatively small size[60] - The audit committee reviewed the financial statements for the six months ended June 30, 2023, and confirmed compliance with applicable accounting standards and full disclosure[68] - The board of directors consists of executive directors Li Junwei and Ji Yi, non-executive director Dr. Liang Jianchang, and independent non-executive directors Cai Dehui, Li Peizhen, and Liu Meixue[69] - The company is committed to adhering to the corporate governance code as per GEM Listing Rules Appendix 15[68] Future Outlook - The company plans to adopt a conservative and prudent business strategy to support daily operations while exploring other potential opportunities for diversification and new revenue sources[40] - The company expects the Hong Kong IPO market to recover in the second half of 2023, supported by favorable regulations and improved economic conditions in China[40] Other Information - There were no significant contingent liabilities as of June 30, 2023[49] - The group did not hold any significant investments as of June 30, 2023[50] - There were no major acquisitions or disposals during the six months ending June 30, 2023, and no specific future plans for significant investments or capital assets[51] - The company had no major events occurring after June 30, 2023, up to the report date[52] - As of June 30, 2023, the group had 15 employees, with total employee costs amounting to approximately HKD 5.8 million, a decrease from HKD 8.42 million in the previous year[48] - The company did not buy, sell, or redeem any of its listed securities during the six months ending June 30, 2023[58]

Financial Performance - For the three months ended March 31, 2023, the group recorded revenue of approximately HKD 2.91 million, a decrease of 42.5% compared to HKD 5.08 million for the same period in 2022[7] - The loss attributable to owners of the company for the three months ended March 31, 2023, was approximately HKD 2.43 million, compared to a profit of approximately HKD 0.12 million for the same period in 2022[7] - The basic and diluted loss per share for the current quarter was HKD 3.79, compared to earnings of HKD 0.18 per share in the same quarter of 2022[10] - Operating expenses for the three months ended March 31, 2023, were HKD 5.34 million, an increase of 7.6% from HKD 4.96 million in the same period of 2022[10] - The group experienced increased operating expenses due to the establishment of a new representative office in Singapore and the leasing of two new offices in Hong Kong and Singapore, leading to higher depreciation and employee costs[25] - As of March 31, 2023, the total equity amounted to approximately HKD 21.85 million, down from HKD 24.05 million as of January 1, 2023[21] Dividend Policy - The group did not recommend the payment of any dividend for the three months ended March 31, 2023[7] - The company does not recommend any dividend payment for the three months ended March 31, 2023, consistent with the previous year[19] Business Operations - The group’s main activities involve providing financial services in Hong Kong, with revenue derived from corporate finance advisory services[15] - The group reported a foreign exchange gain of HKD 0.22 million from the translation of overseas operations[10] - The group has no significant contingent liabilities as of March 31, 2023[27] Corporate Governance - The company has adopted a code of conduct for directors' securities trading that is not more lenient than the GEM Listing Rules[37] - The company has complied with the corporate governance code and report during the three months ended March 31, 2023, with some deviations noted[39] - The roles of Chairman and CEO are held by the same individual due to the company's size, which is deemed appropriate[40] - The company has established a remuneration committee to review and recommend the remuneration policies for directors and senior management[42] - The company has formed a nomination committee to develop nomination policies and make recommendations regarding director appointments[44] - The audit committee has reviewed the unaudited condensed consolidated results for the three months ended March 31, 2023, ensuring compliance with applicable accounting standards and GEM Listing Rules[45] Future Outlook - Management remains optimistic about the medium to long-term prospects of the financial services industry in Hong Kong despite uncertainties in the post-pandemic recovery[23] - The group plans to adopt a conservative and prudent business strategy to support daily operations and address recent economic uncertainties[23] - Management highlighted the potential for new business opportunities arising from the new listing regime for specialized technology companies effective from March 31, 2023[23] Share Information - The weighted average number of ordinary shares in issue during the period was 64 million shares, unchanged from the same period in 2022[17] - The total number of ordinary shares as of March 31, 2023, was 64,000,000 shares[26] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2023[36]

Business Operations and Strategy - The company established a new representative office in Singapore to enhance communication with existing and potential clients in Southeast Asia[9] - The company was granted licenses for regulated activities in asset management and securities advisory, which are expected to provide stable management fee income[9] - The company anticipates a recovery in business operations following the lifting of COVID-19 restrictions in early 2023, which is expected to facilitate business expansion[11] - The company aims to strengthen its core business by improving service quality, expanding its business scope, and focusing on high-quality clients[14] - The company is focused on providing corporate finance-related services, including advisory, placement, and underwriting[9] - The group will continue to focus on corporate financing advisory services and IPO-related projects to ensure sustainable business operations[33] - The management plans to adopt a conservative and prudent business strategy to navigate economic uncertainties[33] - The company is exploring other business opportunities in the financial services sector to enhance shareholder value[33] Financial Performance - The group's revenue for the year ended December 31, 2022, was approximately HKD 16.76 million, a decrease of about 9.8% compared to HKD 18.58 million in 2021[15] - The loss attributable to the owners of the company for the year was approximately HKD 7.57 million, compared to a profit of HKD 5.83 million in 2021[15] - The expected credit loss provision for trade receivables increased to approximately HKD 645,000, reflecting a significant rise in credit risk since initial recognition[16] - As of December 31, 2022, the total assets of the group were approximately HKD 32.16 million, down from HKD 38.51 million in 2021[16] - The net asset value of the group as of December 31, 2022, was approximately HKD 24.06 million, compared to HKD 31.44 million in 2021[47] - The group's current assets net value was HKD 19.89 million, a decrease from HKD 27.71 million in 2021[47] - The current ratio of the group was 6.3 times as of December 31, 2022, compared to 6.8 times in 2021[47] - The company proposed a share consolidation, merging every ten existing shares into one share with a par value of HKD 0.10, which was approved by shareholders[19] - The group has maintained a zero debt ratio, indicating a strong financial position with no borrowings[18] Employee and Workforce Management - The total employee costs for the year amounted to approximately HKD 13.83 million, an increase from HKD 8.14 million in 2021, with 17 employees as of December 31, 2022[23] - The employee turnover rate for the year ended December 31, 2022, was 37.0%, a significant increase from 17.4% in 2021[107] - The company had a total of 17 employees as of December 31, 2022, with 15 based in Hong Kong and 2 in Singapore[107] - The company provides competitive compensation and benefits, including medical plans and mandatory provident fund contributions[107] - The company has established a mechanism for employee promotion and career development[99] - The company has implemented a training program to enhance employee safety awareness[100] - In 2022, all professional employees received an average training duration of 12 hours, achieving a 100% training participation rate across gender and employment categories[109] Compliance and Governance - The company recognizes the importance of compliance with regulatory requirements and has not experienced any significant violations during the year[77] - The board of directors includes a beneficial owner holding 21.69% of the company's shares, totaling 13,879,000 shares[72] - The company has maintained appropriate directors' liability insurance, which is currently in effect[90] - The board has established three committees: Nomination Committee, Remuneration Committee, and Audit Committee, all adhering to corporate governance principles[154] - The company has a system in place for internal controls to ensure checks and balances within the governance structure[149] - The company is committed to maintaining high levels of transparency and timely disclosure of relevant information to shareholders[186] - The board encourages ongoing dialogue with shareholders through various means, including annual general meetings and reports[188] Environmental and Social Responsibility - The company is committed to sustainable development and has implemented significant measures regarding employment practices, operational management, and environmental protection[94] - The company aims to integrate environmental and social factors into its business considerations to promote sustainable development[102] - The company has made steady progress in reducing its carbon footprint by encouraging employees to use public transport and minimizing unnecessary business travel[134] - The company has implemented a waste management strategy based on the "3R" principles, focusing on reducing, reusing, and recycling office waste[130] - The company reported a total greenhouse gas emissions reduction target, with specific steps outlined to achieve these goals[138] - The company has not reported any significant violations regarding waste and greenhouse gas emissions regulations in Hong Kong and Singapore[133] Customer Relations and Service Quality - The company emphasizes high-quality service delivery, believing that market reputation and customer confidence are key to success[115] - There were no service-related complaints reported in 2022, indicating a strong customer satisfaction level[117] - The company has a robust anti-corruption policy in place, with no legal cases related to corruption or misconduct reported in the year[122] Audit and Financial Reporting - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2022, in accordance with Hong Kong Financial Reporting Standards[197] - Key audit matters identified include revenue recognition related to corporate finance advisory services and the assessment of impairment for trade receivables[199]