Financial Performance - As of March 31, 2024, the total revenue and investment income recorded by the company was approximately HKD 37.4 million, representing an increase of about 17.8% compared to the previous fiscal year[7]. - The company reported a loss attributable to owners of approximately HKD 12.3 million for the fiscal year 2023 to 2024, a reduction of about 135.8%[7]. - The value of the company's investment portfolio as of March 31, 2024, was approximately HKD 16.1 million, down from approximately HKD 27.6 million in the previous fiscal year[7]. - The total revenue and investment income for the year amounted to approximately HKD 37,400,000, an increase of about 17.8% from approximately HKD 31,700,000 in 2023[11]. - Commission and brokerage fees from securities trading increased by 17.8% to approximately HKD 4,485,249, with total trading volume rising by 50.3% to approximately HKD 73,281,500,000[12]. - Interest income from margin clients reached approximately HKD 13,791,831, a 68.1% increase from approximately HKD 8,204,639 in the previous year[12]. - Interest income from loan clients decreased to approximately HKD 16,117,891, down 27.5% from HKD 22,235,828 in 2023[13]. - Placement and underwriting commissions surged by 143.8% to approximately HKD 2,050,753 from HKD 840,994 in the previous year[17]. Market Conditions - The Hong Kong IPO market saw a total fundraising amount of approximately HKD 46.294 billion in 2023, a decrease of about 57% compared to 2022, marking a new low in nearly 10 years[10]. - The first quarter of 2024 saw an IPO fundraising amount of approximately HKD 4.7 billion, a decrease of about 30% compared to the same period in 2023[10]. - The Hang Seng Index closed at 16,541 points on March 31, 2024, down approximately 18.9% from 20,400 points on March 31, 2023[10]. Business Strategy - The company aims to expand its customer base and enhance its trading platform despite economic uncertainties[8]. - The company plans to continue exploring new business opportunities to provide optimal returns to shareholders[8]. - The company aims to expand its client base by attracting customers affected by local brokerage closures and enhancing its trading platform[41]. - The company is committed to becoming a leading financial services group in Hong Kong by exploring new revenue sources to improve profitability[41]. Investment and Financial Management - The company maintains a balanced investment portfolio through stable income investments such as investment properties, listed securities, and debt instruments[7]. - The expected credit loss on receivables was approximately HKD 30,100,000, a decrease from HKD 33,900,000 in the previous year[15]. - The total amount of loans classified as Stage 3 was approximately HKD 28,000,000, an increase from HKD 26,200,000 in 2023, due to borrowers failing to respond to legal collection letters[22]. - Cash and bank balances as of March 31, 2024, were approximately HKD 8,600,000, a decrease of about 47.8% from HKD 16,500,000 in 2023[25]. - The net current assets decreased from approximately HKD 145,500,000 in 2023 to about HKD 134,000,000 in 2024, a reduction of approximately 7.9%[25]. - The debt-to-equity ratio as of March 31, 2024, was approximately 15.6%, compared to 14.8% in 2023[25]. Corporate Governance - The board of directors is responsible for formulating strategies and overseeing performance, ensuring sound corporate governance practices[46]. - The company has adopted a code of conduct for directors' securities trading, confirming compliance with relevant regulations throughout the fiscal year[47]. - All independent non-executive directors have confirmed their independence according to GEM listing rules, ensuring compliance with governance standards[53]. - The board has established procedures to ensure that directors can seek independent professional advice when necessary[55]. - The board meets regularly, with all directors attending all meetings held during the year[54]. - The audit committee includes three independent non-executive directors, with the chairman possessing appropriate professional qualifications and experience in financial matters[64]. Environmental, Social, and Governance (ESG) Initiatives - The company has established an ESG working group comprising senior management and external advisors to enhance ESG awareness across the organization[89]. - The company is committed to disclosing significant ESG matters transparently, adhering to principles of materiality and consistency[85]. - The total greenhouse gas emissions recorded for the year were 35,823 kg CO2 equivalent for Scope 2 and 463.3 kg CO2 equivalent for Scope 3, a decrease from 55,881.72 kg and 1,197.60 kg respectively in the previous year[96]. - The company has implemented multiple waste reduction measures, resulting in negligible amounts of non-hazardous waste generated during operations[97]. - The company has complied with all relevant environmental laws and regulations, including those related to gas and greenhouse gas emissions[98]. Employee and Workplace Policies - The overall employee turnover rate for the year was 6.7%, down from 7% in the previous year, indicating a healthy and normal turnover rate[118]. - The company recorded zero work-related injury cases over the past three years, resulting in no lost workdays, demonstrating a strong commitment to workplace safety[119]. - The company has implemented a series of occupational safety measures and maintains a clean and environmentally friendly work environment[120]. - The company is committed to providing competitive compensation and benefits, including mandatory contributions to a provident fund for eligible employees[116]. - The company has a non-discrimination policy applicable to all employment activities, ensuring equal treatment regardless of race, gender, or other factors[114]. Compliance and Risk Management - The group has established a whistleblowing policy to detect fraud and corruption risks, encouraging employees and stakeholders to report any suspicious activities[137]. - The group’s compliance with relevant laws and regulations includes adherence to the Prevention of Bribery Ordinance and the Anti-Money Laundering and Counter-Terrorist Financing Ordinance[136]. - The management has significantly reduced the credit risk associated with accounts receivable by implementing credit limits and monitoring procedures[37]. Shareholder Information - The group’s distributable reserves as of March 31, 2024, amount to approximately HKD 159.7 million, which includes a share premium of about HKD 130.9 million[154]. - The group does not recommend any dividend payment for the current year, consistent with the previous year[149]. - Major shareholders include Zillion Profit Limited and Ms. Au Shuk Ming, each holding 1,500,000,000 shares, which accounts for 68.18% of the total issued shares[189].
昌利控股(08098) - 2024 - 年度财报