Financial Performance - Revenue for the six months ended June 30, 2022, was HKD 3,241,000, a decrease of 19.2% compared to HKD 4,013,000 for the same period in 2021[9] - The net loss for the six months ended June 30, 2022, was HKD 6,022,000, compared to a net loss of HKD 10,650,000 for the same period in 2021, representing a 43.5% improvement[9] - The company reported a total comprehensive loss of HKD (6,022,000) for the six months ended June 30, 2022, compared to a loss of HKD (10,650,000) for the same period in 2021, showing an improvement of approximately 43.5%[20] - The company reported a significant improvement in overall profitability, with a profit of HKD 1,199,000 for the six months ended June 30, 2022, compared to a loss of HKD 2,532,000 in the same period of the previous year[35] - The company incurred a pre-tax loss of HKD 6,956,000 for the six months ended June 30, 2022, an improvement from a pre-tax loss of HKD 12,258,000 in the same period of the previous year[35] Cash Flow and Liquidity - Cash and cash equivalents increased to HKD 8,340,000 as of June 30, 2022, from HKD 5,637,000 as of December 31, 2021, reflecting a 47.7% increase[12] - Cash used in operating activities for the six months ended June 30, 2022, was HKD (35,554,000), a significant increase from HKD (8,904,000) for the same period in 2021, representing a deterioration of approximately 299.5%[22] - The net cash generated from financing activities was HKD 38,481,000 for the six months ended June 30, 2022, compared to a cash outflow of HKD (1,443,000) in the same period of 2021[22] - As of June 30, 2022, the company's cash and cash equivalents amounted to HKD 8,340,000, an increase from HKD 5,637,000 as of December 31, 2021[58] Assets and Liabilities - Total assets less current liabilities amounted to HKD 57,616,000 as of June 30, 2022, compared to HKD 24,532,000 as of December 31, 2021, indicating a significant improvement in financial position[12] - The company’s total liabilities increased to HKD 52,154,000 as of June 30, 2022, from HKD 13,048,000 as of December 31, 2021, indicating a significant rise in financial obligations[12] - As of June 30, 2022, total equity decreased to HKD 5,462,000 from HKD 11,484,000 as of December 31, 2021, reflecting a decline of approximately 52.3%[13] - The accumulated losses increased to HKD 67,748,000 as of June 30, 2022, compared to HKD 61,726,000 as of December 31, 2021, indicating a rise of about 9.8%[13] Revenue Segments - Total revenue for the brokerage and margin financing segment was HKD 2,109,000 for the six months ended June 30, 2022, while the debt issuance segment generated HKD 1,132,000, leading to a total of HKD 3,241,000[31] - The company’s total revenue from brokerage commissions for the six months ended June 30, 2022, was HKD 3,241,000, a decrease from HKD 4,013,000 in the previous year[42] - Interest income from margin financing for the six months ended June 30, 2022, was HKD 224,000, compared to HKD 52,000 in the previous year, indicating a substantial increase[42] - Interest income from the newly established lending business amounted to approximately HKD 1,100,000, accounting for about 34.9% of the total revenue for the period[82] Expenses - The company reported a decrease in operating and administrative expenses to HKD 6,423,000 for the six months ended June 30, 2022, down from HKD 11,190,000 in the same period of 2021, a reduction of 42.5%[9] - The company’s total operating and administrative expenses for the six months ended June 30, 2022, were HKD 5,193,000, down from HKD 6,124,000 in the previous year[35] - Other operating and administrative expenses decreased to approximately HKD 6,400,000, primarily due to a reduction in marketing expenses by HKD 3,000,000 following the cessation of most marketing activities in China[85] Shareholder Information - The major shareholders, including Mr. Pan Guohua and Mr. Chen Yingliang, collectively hold approximately 69.94% of the company's issued share capital[104] - The total number of issued shares as of the report date is 800,000,000 shares[112] - The controlling shareholders collectively own 69.94% of the issued share capital of the company[112] Compliance and Governance - The audit committee has reviewed the unaudited results for the six months ended June 30, 2022, and confirmed compliance with applicable accounting standards and GEM listing rules[126]

Financial Performance - For the first quarter ended March 31, 2022, the total revenue recorded was approximately HKD 1,563,000, a decrease of about HKD 400,000 or 19.5% compared to HKD 2,049,000 in the same period last year[12][17]. - The group reported a loss of approximately HKD 3,734,000 for the period, an improvement from a loss of HKD 6,455,000 in the same period last year, representing a reduction of about 42.3%[12][17]. - For the three months ended March 31, 2022, the company reported a total loss of HKD 3,734,000, compared to a loss of HKD 6,455,000 for the same period in 2021, representing a 42.5% improvement in loss[19]. - Total revenue for the three months ended March 31, 2022, was HKD 1,563,000, down 23.7% from HKD 2,049,000 in the same period of 2021[27]. - The company reported a basic and diluted loss per share of HKD 0.47 for the three months ended March 31, 2022, an improvement from HKD 0.81 in the same period of 2021[33]. Expenses and Cost Management - Salary and other benefits decreased by approximately HKD 707,000 or 31.7%, primarily due to cost-cutting measures implemented in the previous year[12][14]. - Other operating and administrative expenses decreased by approximately HKD 3,000,000 or 42.2%, mainly due to a reduction in marketing expenses of about HKD 2,700,000[12][14]. - Total operating and administrative expenses for the three months ended March 31, 2022, were HKD 1,525,000, down from HKD 2,232,000 in the same period of 2021, indicating a reduction of 31.6%[29]. Income Sources - Interest income from the newly launched lending business was approximately HKD 300,000 during the period[11]. - Interest income from margin financing increased to HKD 110,000, up from HKD 26,000 in the same period last year, marking a significant growth[27]. - The lending business is anticipated to continue growing, providing stable interest income that will benefit the group's financial performance[15]. Shareholder Information - As of March 31, 2022, the company had a total issued share capital of 800,000,000 shares[49]. - Mr. Pan Guohua holds 559,504,000 shares, representing approximately 69.94% of the company's issued share capital[48]. - Mr. Chen Yingliang also holds 559,504,000 shares, representing approximately 69.94% of the company's issued share capital[48]. - The beneficial ownership of Mr. Pan includes 271,504,060 shares directly held and 287,999,940 shares attributed through Mr. Chen[51]. Corporate Governance - The company has complied with the applicable provisions of the corporate governance code, except for a deviation regarding the separation of roles between the chairman and the CEO[56]. - Mr. Pan Guohua serves as both the chairman and CEO, responsible for overall strategic planning and business development[58]. - The company will regularly review and improve its corporate governance practices[59]. - No directors or major shareholders have interests in competing businesses as of March 31, 2022[54]. - The company has adopted the trading regulations standards as per GEM Listing Rules 5.48 to 5.67 for directors' securities transactions[60]. Audit and Compliance - The Audit Committee has reviewed the unaudited performance of the group for the three months ended March 31, 2022, and confirmed compliance with applicable accounting standards and GEM Listing Rules[62]. - The company did not declare any dividends for the three months ended March 31, 2022, consistent with the previous year[36]. - The net foreign exchange loss for the three months ended March 31, 2022, was HKD 42,000, compared to a loss of HKD 2,000 in the same period last year[27]. - The company’s total equity as of March 31, 2022, was HKD 7,750,000, down from HKD 11,484,000 as of January 1, 2022[19]. - The company’s total accumulated losses increased to HKD 65,460,000 as of March 31, 2022, from HKD 61,726,000 as of January 1, 2022[19]. Securities Transactions - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries for the three months ended March 31, 2022[60]. - There were no arrangements made that would allow directors or key executives to acquire shares or bonds of the company during the three months ending March 31, 2022[53]. - The company has not granted any share options under the share option plan since its adoption on December 19, 2017[52].

Financial Performance - The company's revenue decreased from approximately HKD 10,600,000 in the previous year to about HKD 6,600,000, representing a decline of approximately 37.8%[8] - The group's revenue for the year ended December 31, 2021, was approximately HKD 6,600,000, a significant decrease of about 37.8% compared to HKD 10,600,000 for the previous year[29] - The group recorded a loss of approximately HKD 20,200,000 for the year, compared to a loss of HKD 21,700,000 in the previous year, indicating a reduction in losses[30] - The loss attributable to equity shareholders for the year was approximately HKD 20,200,000, down from HKD 21,700,000 in the previous year[30] - The basic and diluted loss per share for the year was approximately HKD 0.0252, compared to HKD 0.0272 in the previous year[30] - The decline in revenue was primarily due to weak market conditions in Hong Kong and overseas, leading to reduced brokerage income from the futures market[29] - The brokerage commission income from futures and options trading decreased significantly, with a total of HKD 6,017,000, down 38.5% from HKD 9,791,000 in the previous year[36] - Other net income for the year was approximately HKD 300,000, a significant decrease from HKD 2,500,000 in the previous year, mainly due to the absence of a one-time government subsidy[44] Business Strategy and Opportunities - In January 2022, the company completed the placement of notes amounting to approximately HKD 40,000,000 to support future growth in existing and new lending businesses[9] - The management is exploring various business opportunities to diversify revenue sources beyond just futures and securities brokerage income[9] - The company aims to continue seeking opportunities to enhance shareholder value and expand its revenue sources in 2022[9] - The company has implemented measures to develop new distribution channels and provide futures and options brokerage services to other licensed securities and futures brokers[8] - The group plans to diversify its product offerings and develop new distribution channels to improve financial performance over the next 24 months[71] Operational Challenges - The ongoing COVID-19 pandemic, particularly the Omicron variant, has significantly impacted the company's operations and the broader brokerage industry in Hong Kong[9] - The ongoing mandatory quarantine measures for non-Hong Kong residents were identified as a significant barrier for potential clients in China to complete account opening procedures[29] - The company implemented several measures to mitigate the decline in the number of Chinese clients since mid-2020, but total revenue was still significantly impacted[29] - Active customers decreased to 286, down 6.5% from 306 active customers as of December 31, 2020, primarily due to a reduction in trading activity from clients in China[43] Cost Management - The management has strictly controlled operating expenses to navigate the challenging business environment[8] - Employee costs decreased due to a one-time bonus of HKD 2,000,000 paid to executive directors in the previous year[30] - Other operating and administrative expenses decreased by approximately HKD 8,500,000, mainly due to reduced marketing expenses[30] - General and administrative expenses were approximately HKD 17,900,000, a decrease of about 32.2% from HKD 26,400,000 in the previous year[46] - Marketing expenses for the year amounted to approximately HKD 3,500,000, a significant decrease of about HKD 7,600,000 compared to the previous year, representing 19.4% of general and administrative expenses[50] Corporate Governance - The board of directors is committed to ensuring the accuracy and completeness of the information presented in the annual report[3] - The company has adopted the GEM Listing Rules Appendix 15 Corporate Governance Code and has complied with applicable provisions, except for a deviation regarding the separation of roles between the Chairman and CEO[73] - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring compliance with GEM Listing Rules[79] - The company has received annual confirmations of independence from all independent non-executive directors, affirming their status as independent individuals[83] - The board is responsible for leading and controlling the company, overseeing business strategies and performance, and making objective decisions in the best interest of the company[87] Environmental, Social, and Governance (ESG) Practices - The company is committed to sustainable development, emphasizing the importance of environmental, social, and governance (ESG) practices in its operations[144] - The company has established a governance framework for environmental, social, and governance (ESG) commitments, integrating these into decision-making processes[153] - The ESG working group, composed of senior management, is responsible for collecting and analyzing ESG data and ensuring compliance with relevant laws and regulations[153] - The company reported a carbon emission of 90 tons of CO2 equivalent for the year 2021, compared to 86 tons in 2020, indicating a slight increase in emissions[160] - The company aims to maintain or reduce the total greenhouse gas emission intensity (tons of CO2 equivalent per employee) over the next three years[159] Employee Management and Culture - The company promotes a "people-oriented" corporate culture, focusing on creating a safe working environment and providing equal opportunities for all employees[178] - The employee turnover rate for the year was approximately 37%, a significant increase from 5% in 2020[184] - The company has a zero-tolerance policy towards workplace harassment and discrimination, ensuring equal opportunities for all employees[180] - The company provides a minimum of 7 days of annual leave along with additional leave types, including maternity and compassionate leave[184] - The company conducts annual performance evaluations to assess employee progress and determine promotions based on merit[183]

Financial Performance - Total revenue for the nine months ended September 30, 2021, was approximately HKD 5,400,000, a decrease of about HKD 3,200,000 or 37.2% compared to approximately HKD 8,600,000 for the same period last year[18]. - The group recorded a loss of approximately HKD 13,900,000 for the nine months, an increase of about HKD 1,300,000 or 10.3% compared to a loss of approximately HKD 12,600,000 for the same period last year[18]. - The group’s revenue for the third quarter was HKD 1,345,000, down from HKD 2,521,000 in the previous quarter[21]. - Basic and diluted loss per share for the nine months was HKD 1.74, compared to HKD 1.57 for the same period last year[21]. - The company reported a total loss of HKD 12,576,000 for the nine months ended September 30, 2021, compared to a loss of HKD 19,811,000 for the same period in 2020, indicating a reduction in losses by approximately 36%[23]. - For the nine months ended September 30, 2021, the loss attributable to equity shareholders was HKD 13,912,000, which is a 10.6% increase from a loss of HKD 12,576,000 in the same period of 2020[40]. - The company reported a loss attributable to equity shareholders of HKD 3,262,000 for the three months ended September 30, 2021, compared to a loss of HKD 5,530,000 for the same period in 2020, representing a 41% improvement[40]. Revenue Sources - Brokerage commission income from futures and options trading in the Hong Kong market was HKD 2,442,000 for the nine months ended September 30, 2021, down 36.8% from HKD 3,864,000 in the same period of 2020[31]. - Total revenue for the nine months ended September 30, 2021, was HKD 5,358,000, a decrease of 38.5% compared to HKD 8,643,000 for the same period in 2020[31]. - Interest income from margin financing decreased to HKD 80,000 for the nine months ended September 30, 2021, compared to HKD 389,000 in the same period of 2020[31]. Cost Management - Salary and other benefits expenses decreased by approximately HKD 2,200,000 or 26.9%, mainly due to a one-time discretionary bonus of HKD 2,000,000 paid to executive directors in the previous year[18]. - Other operating and administrative expenses decreased by approximately HKD 2,100,000 or 12.3%, primarily due to reduced marketing expenses during the period[18]. - Strict cost control measures will be implemented, particularly focusing on rental and employee costs[19]. - The company incurred employee costs of HKD 6,093,000 for the nine months ended September 30, 2021, down 26.8% from HKD 8,333,000 in the same period of 2020[34]. Strategic Initiatives - The company plans to enhance revenue by increasing the products and services offered to existing and potential clients over the next 24 months[19]. - Development of new distribution channels and provision of brokerage services for other securities and futures companies in Hong Kong is part of the company's strategy[19]. - The company continues to focus on expanding its brokerage services in the Hong Kong, US, Japan, Singapore, and UK markets[25]. Shareholder Information - As of September 30, 2021, the company had a total issued share capital of 800,000,000 shares[57]. - Major shareholders, including Mr. Pan Guohua and Mr. Chen Yingliang, collectively hold 69.94% of the company's issued share capital, amounting to 559,504,000 shares[44][59]. - The board of directors did not declare any dividends for the nine months ended September 30, 2021, consistent with the previous year[41]. - No share options have been granted under the company's share option scheme since its adoption on December 19, 2017[60]. Compliance and Governance - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, ensuring compliance with applicable provisions, except for the separation of roles between the Chairman and CEO[64]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited results for the nine months ended September 30, 2021, and confirmed compliance with applicable accounting standards and GEM Listing Rules[69]. Other Information - The company has not indicated any new product launches or significant technological advancements during this reporting period[30]. - There were no significant events related to the company's business or financial performance known to the directors after the reporting period[46]. - The company has not established any arrangements that would allow directors or key executives to acquire shares or bonds of the company or its affiliates during the nine months ended September 30, 2021[61]. - No directors or major shareholders had interests in any competing businesses as of September 30, 2021[62]. - As of September 30, 2021, the company has not purchased, sold, or redeemed any of its listed securities during the nine-month period[67]. - The company reported a net foreign exchange loss of HKD (66,000) for the nine months ended September 30, 2021, compared to a gain of HKD 324,000 in the same period of 2020[33].

Financial Performance - Revenue for the three months ended June 30, 2021, was HKD 1,964,000, a decrease of 31.8% compared to HKD 2,880,000 for the same period in 2020[10]. - Revenue for the six months ended June 30, 2021, was HKD 4,013,000, down 34.4% from HKD 6,121,000 in the same period of 2020[10]. - The company reported a loss before tax of HKD 4,899,000 for the three months ended June 30, 2021, compared to a loss of HKD 2,686,000 in the same period of 2020[10]. - The total comprehensive loss for the six months ended June 30, 2021, was HKD 10,650,000, an increase of 33.1% from HKD 7,047,000 in the same period of 2020[10]. - The company reported a total loss of HKD 10,650 thousand for the six months ended June 30, 2021, compared to a loss of HKD 7,047 thousand for the same period of 2020[20]. - The pre-tax loss for the six months ended June 30, 2021, was HKD (12,258,000), compared to a loss of HKD (7,986,000) for the same period in 2020, representing a 53.5% increase in losses[50]. - The group recorded a net loss of approximately HKD 10,700,000 for the period, compared to a net loss of about HKD 7,000,000 for the same period in 2020[78]. Cash and Assets - Cash and cash equivalents decreased to HKD 8,863,000 as of June 30, 2021, from HKD 19,559,000 as of December 31, 2020, representing a decline of 54.7%[13]. - The company's total assets less current liabilities amounted to HKD 23,474,000 as of June 30, 2021, down 35.1% from HKD 36,133,000 as of December 31, 2020[13]. - Non-current assets decreased to HKD 16,734,000 as of June 30, 2021, from HKD 19,200,000 as of December 31, 2020, reflecting a decline of 12.9%[13]. - The company's equity totalled HKD 21,001,000 as of June 30, 2021, down 33.9% from HKD 31,651,000 as of December 31, 2020[15]. - The company's total issued share capital remained at HKD 100,000,000 as of June 30, 2021, unchanged from December 31, 2020[60]. - As of June 30, 2021, the group's current assets and working capital were approximately HKD 6,700,000, down from about HKD 16,900,000 as of December 31, 2020, mainly due to the incurred losses[81]. Income Sources - Commission income from Hong Kong market decreased to HKD 686 million for the three months ended June 30, 2021, down from HKD 1,244 million in the same period of 2020[31]. - Commission income from overseas markets decreased to HKD 1,184 million for the three months ended June 30, 2021, compared to HKD 1,457 million in the same period of 2020[31]. - Total revenue from brokerage commissions for the six months ended June 30, 2021, was HKD 4,013 million, a decrease from HKD 6,121 million in the same period of 2020[31]. - Interest income from margin financing decreased to HKD 26 million for the three months ended June 30, 2021, down from HKD 125 million in the same period of 2020[31]. - Other income, including government grants, was HKD 60 million for the three months ended June 30, 2021, compared to HKD 589 million in the same period of 2020[32]. - Other income and gains decreased significantly from about HKD 1,350,000 to approximately HKD 109,000, primarily due to the absence of a one-time monetary subsidy from the Hong Kong government and rental income[76]. Operational Activities - The net cash used in operating activities for the six months ended June 30, 2021, was HKD 8,904 thousand, compared to HKD 11,707 thousand for the same period in 2020, indicating a reduction in cash outflow[22]. - Net cash used in operating activities for the six months ended June 30, 2021, was HKD (8,904,000), an improvement from HKD (11,707,000) in the same period of 2020, indicating a 23.9% reduction in cash outflow[50]. - The company’s financing activities generated a net cash inflow of HKD 776 thousand during the first half of 2021, compared to no inflow in the same period of 2020[22]. Corporate Governance - The company has complied with the applicable provisions of the corporate governance code, except for the separation of roles between the Chairman and the CEO[110]. - Mr. Pan Guohua serves as both Chairman and CEO, which the board believes is in the best interest of the company[112]. - The board is committed to regularly reviewing and improving its corporate governance practices[113]. - The Audit Committee has been established in accordance with GEM Listing Rules section 5.28 and is responsible for reviewing the company's annual reports, interim reports, and quarterly reports[117]. - The Audit Committee consists of three independent non-executive directors, ensuring compliance with GEM Listing Rules section 5.05(2)[117]. Shareholder Information - As of June 30, 2021, the total issued shares of the company amounted to 800,000,000 shares[99]. - Mr. Pan Guohua holds 559,504,000 shares, representing approximately 69.94% of the company's issued share capital[103]. - The company has not granted any share options under the share option scheme since its adoption on December 19, 2017[106]. - There were no arrangements made that would allow directors or key executives to acquire shares or bonds of the company during the six months ended June 30, 2021[107]. Future Plans and Developments - The company continues to focus on its core business of futures and options brokerage, stock options, and securities brokerage services[30]. - The group has launched a new securities brokerage business and conducted multiple marketing activities to attract potential clients[79]. - The group plans to enhance its IT capabilities to provide more self-service options for clients and strengthen compliance and operational capabilities[89]. - The company has not reported any significant new product developments or market expansions during the reporting period[24]. - There were no significant investments or acquisitions during the period ended June 30, 2021[86].

Financial Performance - Total revenue for the first quarter was approximately HKD 2,000,000, a decrease of about HKD 1,200,000 or 37.5% compared to HKD 3,200,000 in the same period last year[11] - The company recorded a loss of approximately HKD 6,500,000 for the quarter, compared to a loss of about HKD 4,700,000 in the previous year, representing an increase in loss of approximately 38.3%[11] - The pre-tax loss for the quarter was HKD 7,359,000, compared to a pre-tax loss of HKD 5,300,000 in the same period last year[16] - Basic and diluted loss per share for the quarter was HKD 0.81, compared to HKD 0.58 in the previous year[16] - The total comprehensive loss for the period was HKD 6,455,000, compared to HKD 4,680,000 in the previous year[16] - For the three months ended March 31, 2021, the total loss was HKD 6,455,000, compared to a loss of HKD 4,680,000 for the same period in 2020, representing an increase in loss of approximately 37.9%[18] - Total revenue for the three months ended March 31, 2021, was HKD 2,049,000, down 36.9% from HKD 3,241,000 in the same period of 2020[26] - The company reported a net loss of HKD 2,232,000 in operating expenses for the three months ended March 31, 2021, compared to HKD 4,150,000 in the same period in 2020, reflecting a reduction of approximately 46.3%[29] Expenses - Salary and other benefits decreased by approximately HKD 1,900,000 or 46.2%, primarily due to a one-time bonus of HKD 2,000,000 paid to executive directors in the previous year[11] - Other operating and administrative expenses increased by approximately HKD 2,400,000 or 52.2%, mainly due to increased marketing expenses of about HKD 2,100,000 during the period[13] - Marketing expenses increased significantly to HKD 2,698,000 for the three months ended March 31, 2021, compared to HKD 592,000 in the previous year, representing a rise of approximately 355.6%[30] Shareholder Information - As of March 31, 2021, the company had a total issued share capital of 800,000,000 shares[51] - Mr. Pan Guohua and Mr. Chen Yingliang each hold 559,504,000 shares, representing approximately 69.94% of the company's issued share capital[50] - Mr. Pan Guohua's shareholding includes 271,504,060 shares he directly holds and 287,999,940 shares attributed to him due to being a concert party with Mr. Chen Yingliang[53] - Mr. Chen Yingliang's shareholding includes 287,999,940 shares he directly holds and 271,504,060 shares attributed to him due to being a concert party with Mr. Pan Guohua[54] Corporate Governance - The company has complied with the applicable code provisions of the Corporate Governance Code, except for a deviation regarding the separation of roles between the Chairman and the CEO[58] - Mr. Pan Guohua serves as both Chairman and CEO, responsible for overall strategic planning and business development[60] - The company emphasizes good corporate governance practices to protect shareholder interests and enhance corporate value[58] - No directors or controlling shareholders had interests in any competing businesses during the reporting period[56] - The company has established an audit committee to review financial reports and ensure compliance with applicable accounting standards and GEM listing rules[64] - The audit committee consists of three independent non-executive directors, ensuring proper oversight of financial reporting and risk management[64] Future Outlook - Management expects an increase in the customer base from China as the Hong Kong government plans to lift quarantine restrictions for non-residents, indicating potential recovery in financial performance for the remainder of the year[14] - The company launched remote authentication services during the quarter to assist potential customers from China in completing account opening procedures[10] Other Information - The company did not declare any dividends for the three months ended March 31, 2021, consistent with the previous year[35] - The company’s total liabilities and equity as of March 31, 2021, were not disclosed but are critical for assessing financial health[38] - There were no significant events related to the company's business or financial performance known to the directors after the reporting period[38] - As of March 31, 2021, the company and its subsidiaries did not purchase, sell, or redeem any listed securities[62] - The company has not granted any share options under the share option scheme adopted on December 19, 2017, up to the report date[54] - There were no arrangements made that would allow directors or key executives to acquire shares or bonds of the company or its affiliates during the three months ended March 31, 2021[55]

Financial Performance - The company's revenue decreased from approximately HKD 18,900,000 in the previous year to about HKD 10,600,000, a decline of approximately 43.9%[8] - The company incurred a loss of approximately HKD 21,700,000 for the year, compared to a loss of about HKD 16,500,000 in the previous year[8] - The marketing efforts in China were severely impacted, leading to a significant drop in commission income from Chinese clients[9] - Commission income from futures and options trading decreased significantly, with total commission income from these activities dropping to HKD 9,791,000, a decrease of 46.7% from HKD 18,384,000 in the previous year[30] - The group recorded a loss of approximately HKD 21,700,000 for the year, compared to a loss of approximately HKD 16,500,000 in the previous year, with a basic and diluted loss per share of approximately HKD 2.72[26] - Other net income for the year was approximately HKD 2,500,000, compared to a net loss of approximately HKD 200,000 in the previous year, largely due to government subsidies and rental income[39] - The group received government subsidies of approximately HKD 1,100,000 under the employment support scheme, which was not present in the previous year[39] - The total reserves available for distribution to equity shareholders as of December 31, 2020, amounted to approximately HKD 6,358,000, a decrease from HKD 24,349,000 in 2019, representing a decline of about 73.9%[176] Customer Base and Market Strategy - The number of new customers decreased by over 50% due to the lack of new clients from China, significantly impacting financial performance[8] - The company expects the adverse effects of the COVID-19 pandemic to eventually dissipate, with hopes of expanding its customer base once border restrictions are lifted[9] - Advertising campaigns and incentive programs will be launched in Hong Kong to enhance the company's image and expand its futures and securities brokerage client base[9] - The company aims to focus on high-net-worth clients to enhance revenue generation despite the increase in active customer numbers[38] - Active customers increased to 306 as of December 31, 2020, representing a 4.1% increase from 294 active customers a year earlier, primarily driven by new clients in Hong Kong's stock options and securities brokerage business[38] Leadership and Governance - The company has a strong leadership team with over 25 years of experience in securities and futures brokerage, led by CEO Mr. Pan Guohua[11] - The financial director, Mr. Luo Weiheng, has over 12 years of experience in financial accounting and is responsible for financial analysis and reporting[20] - The company has a dedicated sales and marketing head, Mr. Yu Jiansheng, with over 18 years of experience in the futures industry, overseeing daily securities and futures activities[22] - The independent non-executive director, Mr. Qian Jinxiang, has over 32 years of experience in accounting and financial management, enhancing the company's governance[16] - The company is focused on strategic planning and business development, with key executives providing insights into overall corporate strategy[12] - The board of directors is responsible for leading and controlling the company, overseeing business strategies and performance[82] Risk Management and Compliance - The company emphasizes internal controls and compliance, with a dedicated team overseeing regulatory activities[13] - The risk management committee includes experienced members, ensuring robust risk oversight and management practices[18] - The company has established risk management policies and procedures to identify, assess, and mitigate operational risks[112] - The board reviewed the effectiveness of risk management and internal control systems with the support of the Audit Committee and independent internal control consultants[113] - The company has implemented strict procedures to prevent unauthorized access and use of information[113] Employee and Community Engagement - The company is committed to community service, as recognized by the honor awarded to independent director Mr. Xiao Miaowen[18] - The company has established a series of employment policies to ensure fair treatment of employees, with competitive compensation and benefits[150] - The company emphasizes employee training and development, encouraging participation in relevant training courses and providing comprehensive self-improvement programs[152] - The company encourages employee participation in community activities, fulfilling its social responsibility to meet community needs[161] Environmental and Social Responsibility - The company’s environmental, social, and governance report for the year ended December 31, 2020, outlines its performance and methods in sustainable development[134] - The total electricity consumption for the reporting period was 96,581 units, an increase of 16.7% compared to the previous period's 82,778 units[142] - The company generated a total of 590 tons of CO2 equivalent emissions during the reporting period, with 86 tons (14.6%) from purchased electricity and 504 tons (85.4%) from paper consumption[141] - The company has implemented various energy-saving policies, including setting computers and printers to energy-saving mode during idle times[142] - The company has adopted the "5R" concept (Reduce, Recycle, Reuse, Repair, Refuse) to minimize environmental impact and greenhouse gas emissions[148] Financial Management and Reporting - The company has established a dividend policy, allowing the board to declare dividends based on various factors including financial performance and cash flow, without a preset payout ratio[131] - The company’s independent auditor's report is included in the annual report, ensuring transparency in financial reporting[119] - The company has not made any changes to its articles of association during the year ended December 31, 2020[130] - The company has not reported any significant changes in property and equipment, with details available in the consolidated financial statements[173] - The total fees paid/owed for audit services provided by Huarong (Hong Kong) CPA Limited and Ho Hoi CPA Limited for the year ended December 31, 2020, amounted to HKD 210,000 and HKD 5,000 respectively[123]

Financial Performance - Total revenue for the period was approximately HKD 8,600,000, a decrease of about HKD 9,600,000 compared to approximately HKD 18,200,000 in the same period last year[16] - The loss for the period was approximately HKD 12,600,000, an increase of about HKD 7,000,000 compared to a loss of approximately HKD 5,600,000 in the same period last year[16] - The company's revenue for the three months ended September 30, 2020, was HKD 2,521,000, a decrease of 20.2% compared to HKD 3,159,000 in the same period of 2019[19] - For the nine months ended September 30, 2020, the revenue was HKD 8,643,000, down 52.5% from HKD 18,225,000 in the same period of 2019[19] - The net loss for the three months ended September 30, 2020, was HKD 5,530,000, slightly improved from a loss of HKD 5,634,000 in the same period of 2019[19] - The net loss for the nine months ended September 30, 2020, was HKD 12,576,000, compared to a loss of HKD 5,550,000 in the same period of 2019[19] - The total comprehensive loss for the nine months ended September 30, 2020, was HKD 12,576,000, reflecting a significant increase from the previous year's loss of HKD 5,550,000[21] - The company reported a basic and diluted loss per share of HKD 0.69 for the three months ended September 30, 2020, compared to HKD 0.70 in the same period of 2019[19] - For the nine months ended September 30, 2020, the total loss attributable to equity shareholders was HK$12,576,000, compared to HK$5,550,000 for the same period in 2019, indicating a significant increase in losses[38] Expenses - Salary and other benefits expenses increased by approximately HKD 2,400,000 or about 40.2%, primarily due to a one-time discretionary bonus of HKD 2,000,000 paid to executive directors[16] - Other operating and administrative expenses decreased by approximately HKD 1,600,000 or about 8.6%, mainly due to reduced marketing expenses and lower trading-related expenses[16] - The total operating and administrative expenses for the three months ended September 30, 2020, were HK$1,542,000, a decrease from HK$1,860,000 in the same period of 2019[33] - The company incurred a total of HK$1,027,000 in right-of-use asset depreciation for the three months ended September 30, 2020, a substantial increase from HK$7,000 in the same period of 2019[33] Government Support - The company received government grants amounting to HKD 1,071,000 during the nine months ended September 30, 2020[29] Shareholder Information - The company’s major shareholders, Mr. Pan Guohua and Mr. Chen Yingliang, collectively hold 69.94% of the issued share capital, amounting to 559,496,000 shares each[43] - The company’s total issued share capital as of the report date is 800,000,000 shares[51] - The weighted average number of ordinary shares for the calculation of basic and diluted loss per share remained constant at 800,000,000 shares for both the three and nine months ended September 30, 2020[38] Corporate Governance - The audit committee has reviewed the unaudited results for the nine months ended September 30, 2020, and confirmed compliance with applicable accounting standards and regulations[65] - The company has adhered to the corporate governance code, except for the separation of roles between the chairman and the CEO, which is deemed appropriate under current circumstances[59] - The company will regularly review and improve its corporate governance practices in line with the latest developments[62] - The company has established an audit committee to oversee financial reporting, risk management, and internal controls[65] Market Outlook - The company anticipates continued impact on performance due to COVID-19 and the U.S. presidential election, with hopes for easing travel restrictions for clients from mainland China[17] - The company expects market volatility to persist for the remainder of 2020 until signs of recovery are observed[17] Strategic Initiatives - The company plans to enhance customer service for high-net-worth clients to encourage more trading activities[14] - Discussions are ongoing with multiple social media platforms to promote services to potential young clients[14] - The company has engaged a vendor to integrate remote verification for potential new clients in China into its online application system[14] Miscellaneous - There were no significant events related to the company's business or financial performance known to the directors after the reporting period[42] - No stock options have been granted under the stock option plan adopted on December 19, 2017, as of the report date[54] - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ended September 30, 2020[63] - No directors or major shareholders have interests in any competing businesses as of September 30, 2020[56] - The company has not established any arrangements that would allow directors or key executives to acquire securities of the company or its affiliates during the nine months ended September 30, 2020[55] - The compliance advisor has confirmed that neither it nor its directors or employees hold any equity interests in the company as of September 30, 2020[58] - The chairman and CEO, Mr. Pan Guohua, has been with the group since September 2000 and is responsible for overall strategic planning and business development[61]

Financial Performance - Revenue for the six months ended June 30, 2020, was HKD 6,121,000, a decrease of 59.3% compared to HKD 15,066,000 for the same period in 2019[14] - The company reported a loss before tax of HKD 7,986,000 for the six months ended June 30, 2020, compared to a profit of HKD 355,000 for the same period in 2019[14] - The company incurred a net loss attributable to equity shareholders of HKD 7,047,000 for the six months ended June 30, 2020, compared to a profit of HKD 84,000 for the same period in 2019[14] - The company reported a total comprehensive loss of HKD 7,047,000 for the six months ended June 30, 2020, compared to a total comprehensive income of HKD 84,000 for the same period in 2019[14] - The company reported a net loss of HKD 7,047,000 for the six months ended June 30, 2020, compared to a net loss of HKD 16,619,000 for the same period in 2019, indicating an improvement in performance[27] - The company reported a pre-tax loss of HKD 7,986,000 for the six months ended June 30, 2020, compared to a profit of HKD 355,000 for the same period in 2019[60] - The company incurred a net loss of approximately HKD 7,000,000 for the period, compared to a net profit of about HKD 100,000 for the same period in 2019[92] Assets and Liabilities - Total assets as of June 30, 2020, amounted to HKD 55,357,000, down from HKD 77,349,000 as of December 31, 2019, representing a decrease of 28.4%[18] - Cash and cash equivalents decreased to HKD 24,532,000 as of June 30, 2020, from HKD 37,973,000 at the end of 2019, a decline of 35.4%[18] - The company’s total equity decreased to HKD 46,352,000 as of June 30, 2020, from HKD 53,399,000 as of December 31, 2019, a decline of 13.0%[18] - As of June 30, 2020, total equity decreased to HKD 46,352,000 from HKD 53,399,000 at the end of 2019, reflecting a decline of approximately 13.5%[26] - The company’s current liabilities were HKD 22,337,000 as of June 30, 2020, down from HKD 32,778,000 at the end of 2019, a decrease of 32.0%[18] - Total receivables decreased to HKD 25,449,000 as of June 30, 2020, down 26.0% from HKD 34,373,000 as of December 31, 2019[52] - The net current assets and working capital decreased to approximately HKD 33,000,000 as of June 30, 2020, from about HKD 44,600,000 as of December 31, 2019, primarily due to the losses incurred during the period[96] Cash Flow - Operating cash flow for the first half of 2020 was negative at HKD 9,949,000, compared to a positive cash flow of HKD 23,853,000 in the same period of 2019[30] - Operating cash flow for the six months ended June 30, 2020, was a net outflow of HKD 11,943,000, a significant decline from a net inflow of HKD 23,224,000 in the previous year[60] - Cash and cash equivalents were approximately HKD 24,500,000 as of June 30, 2020, down from about HKD 38,000,000 as of December 31, 2019[96] - The decrease in cash and cash equivalents was attributed to routine business transactions and the maintenance of independent accounts[57] Revenue Sources - The group’s revenue primarily comes from brokerage commissions for futures, options, stock options, and securities brokerage, as well as interest income from margin financing[38] - Commission income from Hong Kong market decreased to HKD 1,244,000 for the three months ended June 30, 2020, down 37.2% from HKD 1,981,000 in the same period of 2019[39] - Total commission income from overseas markets decreased to HKD 1,457,000 for the three months ended June 30, 2020, down 47.1% from HKD 2,745,000 in the same period of 2019[39] - Interest income from margin financing increased to HKD 125,000 for the three months ended June 30, 2020, compared to HKD 60,000 in the same period of 2019[39] Strategic Decisions - The company declared and paid an interim dividend of HKD 8,800,000 in 2019, which was not repeated in 2020, reflecting a strategic decision to conserve cash[30] - The company has slowed down investments in its Qianhai office and promotional activities in China due to the current market conditions and uncertainties[95] - The board believes that pausing expansion plans in China and improving liquidity will be in the best interest of the company and its shareholders[95] - The company did not declare any interim dividend for the six months ended June 30, 2020, compared to an interim dividend of HKD 800,000 for the same period in 2019[79] Government Support and Economic Impact - The group faced negative impacts on business performance due to COVID-19, particularly affecting client onboarding processes from mainland China[36] - The company has implemented various financial measures and support from the Hong Kong government to mitigate the adverse effects of the pandemic[36] - The management anticipates that the economic recovery may take at least six months, leading to a pessimistic outlook for the second half of 2020[93] Corporate Governance - The company has complied with the corporate governance code, except for the separation of roles between the chairman and the CEO[158] - Mr. Pan Guohua serves as both the chairman and CEO, which the board believes is in the best interest of the company[160] - The company will regularly review and improve its corporate governance practices[161] - The Audit Committee has been established to review the company's annual reports, interim reports, and quarterly reports, ensuring compliance with applicable accounting standards and GEM listing rules[165] Shareholder Information - The major shareholders, Mr. Pan Guohua and Mr. Chen Yingliang, collectively own 69.94% of the company's issued share capital, amounting to 559,496,000 shares each[149] - The total number of issued shares of the company as of the report date is 800,000,000 shares[150] - Mr. Pan Guohua holds 271,496,060 shares directly, while Mr. Chen Yingliang is deemed to own 287,999,940 shares due to their concerted action agreement[152] - Mr. Chen Yingliang holds 287,999,940 shares directly, while Mr. Pan Guohua is deemed to own 271,496,060 shares due to their concerted action agreement[152]

Financial Performance - For the first quarter ended March 31, 2020, the company recorded total revenue of approximately HKD 3,241,000, a decrease of about HKD 7,000,000 compared to HKD 10,239,000 for the same period last year, representing a decline of approximately 68.3%[14] - The company reported a loss of approximately HKD 4,680,000 for the period, compared to a profit of approximately HKD 2,232,000 in the same period last year, indicating a significant shift in performance[19] - The basic and diluted loss per share for the period was HKD 0.58, compared to a profit of HKD 0.28 per share in the same period last year[19] - The company reported a net loss of HKD 4,680,000 for the three months ended March 31, 2020, compared to a profit of HKD 2,232,000 for the same period in 2019[21] - Total revenue for the first quarter of 2020 was HKD 3,241,000, a decrease of 68.3% from HKD 10,239,000 in the first quarter of 2019[29] - Commission income from futures and options trading in the Hong Kong market was HKD 1,631,000, down 41.8% from HKD 2,806,000 in the previous year[29] - The company incurred total expenses of HKD 4,150,000 for the three months ended March 31, 2020, compared to HKD 2,052,000 in the same period of 2019, reflecting a 102.4% increase[32] - Basic and diluted loss per share for the first quarter of 2020 was HKD (0.58), compared to earnings of HKD 0.28 per share in the first quarter of 2019[36] - Interest income from margin financing was HKD 140,000, with no income reported in the same period of the previous year[29] - The company reported a net foreign exchange loss of HKD 33,000 for the first quarter of 2020, an improvement from a loss of HKD 107,000 in the same period of 2019[30] Expenses and Benefits - Salary and other benefits increased by approximately HKD 2,100,000 or about 102.2%, primarily due to a one-time bonus payment of HKD 2,000,000 to executive directors during the period[14] - Other operating and administrative expenses decreased by approximately HKD 800,000 or about 16.1%, mainly due to reduced trading-related expenses from lower transaction volumes[16] Future Outlook and Strategy - The management anticipates continued challenges in the second quarter of 2020, particularly due to government-imposed quarantine measures affecting new account openings for potential clients in China[17] - The company plans to hold more seminars on futures and stock options trading in Hong Kong to attract local clients, aiming to mitigate the financial impact of the pandemic[17] - The management is actively seeking new high-net-worth clients in China to open accounts in Hong Kong once quarantine measures are lifted[17] - The overall financial performance is expected to be adversely affected by the ongoing pandemic, but local marketing strategies are being implemented to minimize the impact[17] - The company is taking all necessary precautions to manage market risks associated with client trading activities during the heightened volatility caused by the COVID-19 pandemic[13] Shareholder Information - As of March 31, 2020, the total issued share capital of the company was 800,000,000 shares[51] - Major shareholders, Mr. Pan Guohua and Mr. Chen Yingliang, collectively hold 559,496,000 shares, representing approximately 69.94% of the issued share capital[43][50] - No share options have been granted under the share option scheme since its adoption on December 19, 2017[54] - No arrangements were made that would allow directors or key executives to acquire shares or bonds of the company during the reporting period[55] - No directors or major shareholders had interests in any competing businesses as of March 31, 2020[56] - The compliance advisor reported no interests in the company's equity as of March 31, 2020[58] Corporate Governance - The company has adopted the corporate governance code as per GEM listing rules, ensuring compliance with applicable provisions, except for the separation of roles between the Chairman and CEO[59] - The Chairman and CEO, Mr. Pan Guohua, has been with the group since September 2000 and is responsible for overall strategic planning and business development[61] - The Audit Committee has reviewed the unaudited performance for the three months ending March 31, 2020, and confirmed compliance with applicable accounting standards and GEM listing rules[65] - The company is committed to regularly reviewing and improving its corporate governance practices in line with the latest developments[62] Dividends - The company declared and paid an interim dividend of HKD (8,000,000) during the period, impacting retained earnings significantly[21] - No dividend was declared for the three months ending March 31, 2020, compared to a dividend of HK$0.001 per share for the same period in 2019[8][41] Other Information - The total equity as of March 31, 2020, was HKD (48,719,000), a decrease from HKD 72,966,000 as of March 31, 2019[21] - The company has not engaged in any substantial business operations since its establishment, focusing primarily on brokerage services for futures, options, and securities[23] - There were no significant matters related to the group's business or financial performance known to the directors as of the report date[42] - No purchases, sales, or redemptions of the company's listed securities were made by the company or its subsidiaries during the three months ending March 31, 2020[63]