Financial Performance - The company reported a pre-tax profit of HKD 173.736 million for the fiscal year ending March 31, 2023, compared to HKD 499.720 million in the previous year, representing a decrease of approximately 65.2%[5]. - The total comprehensive income for the year was HKD 149.960 million, down from HKD 466.916 million in the previous year, indicating a decline of about 68.0%[23]. - Basic and diluted earnings per share were HKD 0.06, a decrease from HKD 0.19 in the previous year, reflecting a drop of approximately 68.4%[24]. - Total revenue for the year was HKD 337.012 million, down from HKD 354.827 million, representing a decrease of about 5.0%[20]. - The profit attributable to equity shareholders for the year ended March 31, 2023, was HKD 149,831,000, a decrease of 68% from HKD 466,867,000 in the previous year[75]. - The profit attributable to the company's owners for the year was approximately HKD 149,800,000, down from HKD 466,900,000 in 2022, primarily due to the absence of gains from the sale of subsidiaries[138]. Assets and Liabilities - The company’s non-current assets decreased to HKD 56.729 million from HKD 326.000 million, a decline of approximately 82.6%[25]. - Accounts receivable decreased to HKD 2.079 billion from HKD 2.826 billion, a reduction of about 26.4%[25]. - The company’s total assets less current liabilities stood at HKD 4.338 billion, slightly down from HKD 4.345 billion, indicating a decrease of about 0.2%[25]. - The company’s total assets as of March 31, 2023, were HKD 293,977,000, a slight increase from HKD 290,400,000 in the previous year[58]. - The company’s total liabilities were reported at HKD 364,319 thousand, with segment liabilities for brokerage at HKD 173,443 thousand[40]. - The group maintained a zero debt ratio as of March 31, 2023, with no bank borrowings reported[145]. Revenue Sources - Total segment revenue reached HKD 337,012 thousand, with brokerage contributing HKD 70,479 thousand and securities financing contributing HKD 263,411 thousand[39]. - Brokerage commission revenue decreased significantly to HKD 29,187,000, down 43% from HKD 50,858,000 in the prior year[58]. - Total operating income from other sources was HKD 4,695,000, a decline of 52% compared to HKD 9,894,000 in the previous year[69]. - Securities margin financing interest income decreased by 8.3% to approximately HKD 263.4 million for the year ended March 31, 2023, compared to HKD 287.1 million in 2022[154]. Impairment and Provisions - The company reported a net impairment loss on accounts receivable of HKD 92.088 million, compared to HKD 130.076 million in the previous year, showing an improvement of approximately 29.2%[20]. - The expected credit loss recognized for the year was approximately HKD 92,088,000, a decrease from HKD 130,076,000 in the previous year[106]. - The net impairment loss for margin receivables totaled approximately HKD 92,100,000, with a net provision of HKD 487,000 for the top ten margin clients, excluding directors and their close family members[120]. - As of March 31, 2023, the group recognized a loss provision for margin receivables of approximately HKD 426,185,000, compared to HKD 334,097,000 in 2022, reflecting an increase of 27.5%[109]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.03 per share for the year ended March 31, 2023, totaling HKD 75 million, unchanged from the previous year[74]. - The average number of ordinary shares used for calculating basic and diluted earnings per share remained constant at 2,500,000,000 shares for both years[75]. - The number of issued shares remained unchanged at 2,500 million as of March 31, 2023[161]. Operational Insights - The company’s main business includes providing financial services such as securities trading, brokerage services, and asset management[47]. - The company’s margin client base is subject to credit verification procedures, ensuring that the fair value of pledged securities exceeds the corresponding outstanding loans[126]. - The group has taken various actions to recover overdue receivables, including issuing margin calls and legal actions[141]. - Management holds a cautiously optimistic outlook for future business development and overall performance, focusing on providing comprehensive services to affluent and high-net-worth clients[159]. Market Conditions - The market environment showed significant volatility, with the Hang Seng Index reaching a low of 14,687 on October 31, 2022, the lowest level since April 2009, influenced by external macroeconomic factors[117]. - The average daily turnover for the main board and GEM was approximately HKD 120.5 billion, a decrease of 18.0% from approximately HKD 147.0 billion in the previous fiscal period[140]. Employee and Talent Management - The total employee compensation cost for the group was HKD 21,800,000, down from HKD 24,500,000 in 2022[148]. - The group is committed to recruiting and training financial talent to enhance service quality for clients[159]. Future Plans - The group is prepared to expand its business scope and scale, aiming to create better returns and value for shareholders in the future[159]. - The adoption of new or revised Hong Kong Financial Reporting Standards is not expected to have a significant impact on the group's performance[50].
结好金融(01469) - 2023 - 年度业绩