Revenue Performance - The group's total revenue increased by approximately 10.5% from about HKD 61.0 million for the year ended March 31, 2023, to about HKD 67.4 million for the year ended March 31, 2024[5]. - Revenue generated from financial advisory and independent financial advisory services was approximately HKD 43.0 million, accounting for about 63.8% of total revenue, compared to approximately HKD 33.6 million and 55.1% in the previous year[5]. - The corporate finance advisory segment generated revenue of approximately HKD 67.4 million, with a pre-tax segment loss of approximately HKD 1.7 million, an improvement from a loss of approximately HKD 3.5 million in the previous year[10]. - Compliance advisory revenue decreased to approximately HKD 24.2 million, representing 35.9% of total revenue, down from 44.6% in 2023 due to a reduction in IPO activities in the Hong Kong market[14]. - The group's total revenue for the year is approximately HKD 67.4 million, an increase of about 10.5% from HKD 61.0 million in 2023[12]. Profitability and Loss - The group recorded a pre-tax loss of approximately HKD 3.6 million, a decrease from a loss of approximately HKD 6.9 million in the previous year, due to increased revenue from corporate finance advisory services[10]. - Adjusted pre-tax profit was approximately HKD 0.8 million, compared to an adjusted pre-tax loss of approximately HKD 5.9 million in the previous fiscal year[8]. - The group reported a net loss of HKD 3,613,000 for the year, improving from a net loss of HKD 6,953,000 in 2023[48]. - The pre-tax loss for 2024 was HKD 3,580,000, an improvement from a loss of HKD 6,863,000 in 2023[76]. - The company incurred a total segment loss of HKD 2,790,000 for the year ended March 31, 2024, compared to HKD 4,833,000 for the previous year, showing a reduction of approximately 42.4%[63]. Employee Costs - Employee benefit costs increased by approximately HKD 3.4 million, impacting overall profitability despite revenue growth[10]. - Employee benefit costs for the year were approximately HKD 53.4 million, up from HKD 50.0 million in 2023, reflecting a 4.8% increase[43]. - The total employee benefit costs for 2024 amounted to HKD 53,357,000, an increase from HKD 50,007,000 in 2023[73]. - The group distributed discretionary bonuses of approximately HKD 3.8 million to employees in recognition of their hard work during challenging times[7]. Asset and Financial Position - Net asset value decreased from approximately HKD 85.0 million to approximately HKD 78.5 million, primarily due to the current year's loss and the distribution of approximately HKD 3.6 million in dividends[5]. - As of March 31, 2024, the group's net current assets were approximately HKD 73.9 million, with a current ratio of 10.7 times, up from 8.7 times in 2023[30]. - The group has no bank financing or borrowings as of March 31, 2024, indicating a strong financial position[30]. - The total assets decreased to HKD 81,523,000 from HKD 84,210,000 in 2023, reflecting a decline of 3.2%[52]. - The company has not early adopted any new Hong Kong Financial Reporting Standards that are yet to be effective, indicating a stable approach to financial reporting[60]. Investment Income - Investment income increased by approximately HKD 1.9 million, primarily due to rising interest rates and fair value gains from derivative financial instruments[17]. - Investment income for the year ended March 31, 2024, was HKD 2,481,000, significantly higher than HKD 894,000 reported in the previous year[63]. - Investment income for 2024 was HKD 3,013,000, significantly higher than HKD 1,069,000 in 2023, with interest income rising to HKD 1,828,000 from HKD 662,000[71]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM listing rules, enhancing stakeholder confidence[102]. - The audit committee held four meetings during the year to review and assess the financial statements and internal controls[107]. - The company has no significant uncertainties regarding its ability to continue as a going concern[108]. - The company plans to continue reviewing and enhancing its corporate governance practices to meet stakeholder expectations[102]. Share Capital and Dividends - The board proposed a final dividend of HKD 0.025 per share, consistent with the previous year, subject to shareholder approval[5]. - The total issued and paid-up share capital increased from HKD 1,434,000 in 2023 to HKD 1,455,000 in 2024, reflecting an increase due to exercised share options[99]. - The company proposed a final dividend of HKD 0.025 per share for the year ending March 31, 2024, consistent with the previous year[78]. Risks and Market Outlook - The outlook for the corporate finance market in Hong Kong remains uncertain, with expectations of improvement in the second half of the fiscal year ending March 31, 2025[46]. - The group faced significant risks including reliance on corporate finance advisory services, which are subject to economic fluctuations and regulatory changes[40]. - The group faces minimal foreign exchange risk as most revenues are denominated in HKD[32].
新百利融资(08439) - 2024 - 年度业绩