Financial Performance - For the six months ended September 30, 2023, the company recorded an unaudited revenue of approximately HKD 19,400,000, a decrease of about 16.9% compared to the same period last year[4]. - The company reported an unaudited loss attributable to owners of approximately HKD 10,700,000 for the six months ended September 30, 2023, primarily due to expected credit loss impairment on receivables[4]. - Basic and diluted loss per share for the six months ended September 30, 2023, was approximately HKD 0.48, compared to a basic earnings per share of HKD 0.80 for the same period last year[4]. - The company experienced a loss of HKD 10,666,937 during the period, compared to a profit of HKD 17,559,307 in the same period last year[9]. - The company reported a net loss of HKD 10,666,937,000 for the six months ended September 30, 2023, compared to a net profit of HKD 17,559,307,000 for the same period in 2022[27]. - For the six months ended September 30, 2023, the total income from various sources was HKD 211,233,000, a decrease of 83.9% compared to HKD 1,314,983,000 for the same period in 2022[21]. Dividends and Equity - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2023, consistent with the previous year[4]. - The company did not declare any dividends during the period, maintaining a focus on cash preservation amid challenging market conditions[9]. - The company’s total equity attributable to owners decreased to HKD 183,735,552 as of September 30, 2023, down from HKD 201,078,197 a year earlier[9]. Assets and Liabilities - Total assets as of September 30, 2023, amounted to HKD 240,354,871, compared to HKD 248,588,536 as of March 31, 2023[6]. - Current liabilities decreased to HKD 98,378,414 as of September 30, 2023, from HKD 103,082,286 as of March 31, 2023[8]. - The company’s net asset value as of September 30, 2023, was HKD 183,735,552, down from HKD 195,365,266 as of March 31, 2023[8]. - Total liabilities as of September 30, 2023, were HKD 98,886,804,000, an increase from HKD 82,338,489,000 as of September 30, 2022[29]. Cash Flow - The company reported a net cash inflow from operating activities of HKD 18,738,101 for the six months ended September 30, 2023, compared to a cash outflow of HKD 37,459,774 in the same period last year[11]. - The company generated a net cash inflow from investing activities of HKD 7,226,063, compared to a cash outflow of HKD 5,862,834 in the previous year[11]. - The company’s financing activities resulted in a net cash outflow of HKD 15,739,093, contrasting with a net inflow of HKD 17,894,702 in the previous year[11]. Credit Loss and Impairment - The company reported a significant impairment loss of HKD 17,171,270 under the expected credit loss model for the six months ended September 30, 2023[5]. - The expected credit loss under the impairment model for loans receivable was HKD (17,208,270,000) for the six months ended September 30, 2023, with no such loss reported in the same period of 2022[22]. - The provision for expected credit losses on receivables increased to HKD 17,208,270 from HKD 33,849,805, indicating a reduction of 49.2%[54]. Revenue Sources - Total revenue from continuing operations for the six months ended September 30, 2023, was HKD 19,372,695, a decrease of 17.5% from HKD 23,300,745 in the previous year[19]. - The company reported a significant increase in interest income from cash and margin clients, totaling HKD 6,329,984 for the six months ended September 30, 2023, compared to HKD 3,808,645 in the previous year[19]. - The company’s commission and brokerage fees from securities trading on the exchange amounted to HKD 2,129,636 for the six months ended September 30, 2023, slightly up from HKD 2,049,741 in the previous year[19]. Operational Highlights - The company plans to continue expanding its client base and enhancing its trading platform to develop its brokerage and underwriting businesses[91]. - The company aims to become a leading financial services group in Hong Kong and will actively seek investment opportunities to enhance profitability[91]. - The company has established credit policies and continuously monitors credit risk to mitigate potential losses from receivables[92]. Corporate Governance - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with GEM listing rules during the six months ending September 30, 2023[113]. - The company has adhered to all corporate governance code provisions as per GEM listing rules, with a noted deviation regarding the separation of roles between the chairman and CEO[114]. - The board is responsible for the overall internal control framework and acknowledges the necessity of risk management and internal control systems[119].
昌利控股(08098) - 2024 - 中期财报