Financial Performance - For the six months ended June 30, 2024, the company's revenue was approximately HKD 29.56 million, an increase of about 7.2% compared to HKD 27.58 million for the same period in 2023[6]. - The company's loss for the six months ended June 30, 2024, was approximately HKD 5.82 million, representing an increase of about 47.5% from a loss of HKD 3.95 million in the same period of 2023[7]. - The company reported a net loss attributable to equity holders of the parent of HKD 5.76 million for the six months ended June 30, 2024, compared to a loss of HKD 3.91 million in the same period of 2023[8]. - Total comprehensive loss for the period amounted to HKD 7,381,649, significantly higher than the HKD 3,925,198 reported in the previous year, indicating an increase of 88.5%[9]. - The basic and diluted loss per share for the six months ended June 30, 2024, was HKD 3.04, compared to HKD 2.11 for the same period in 2023[8]. - The company reported a pre-tax loss of HKD 5,698,633 for the six months ended June 30, 2024, compared to a pre-tax loss of HKD 4,967,751 for the same period in 2023, reflecting a decline in profitability[31]. - The company declared an interim dividend of HKD 0.10 per share for the six months ended June 30, 2024, down from HKD 0.80 per share for the same period in 2023[7]. Revenue Breakdown - Revenue from client contracts was HKD 16.59 million for the six months ended June 30, 2024, compared to HKD 15.49 million in the previous year[8]. - The segment revenue for the securities and futures brokerage services was HKD 14,293,057, while the financing services segment generated HKD 8,209,567, indicating strong performance in these areas[31]. - The company recorded a significant increase in virtual asset trading revenue, reaching HKD 3,075,021 in 2024, compared to no revenue in 2023[38]. - The virtual asset division generated revenue of approximately HKD 3.08 million for the six months ended June 30, 2024, compared to zero revenue for the same period in 2023, marking the launch of a new business segment[163]. - Brokerage services recorded revenue of approximately HKD 4.02 million, a decrease of about 49.3% from HKD 7.92 million for the same period in 2023, primarily due to reduced trading volume in the Hong Kong stock market[160]. - The placement and underwriting services saw a significant increase in revenue to approximately HKD 4.43 million, up about 697.8% from HKD 0.56 million in the previous year, driven by increased corporate activities[161]. - Asset management services reported revenue of approximately HKD 3.41 million, a slight increase of about 0.9% from HKD 3.38 million in the previous year, mainly due to increased revenue from new clients[165]. Expenses and Costs - Employee costs for the six months ended June 30, 2024, amounted to HKD 17.74 million, an increase of 16.3% from HKD 15.25 million in the previous year[6]. - Commission expenses increased by 29.9% to HKD 3.55 million for the six months ended June 30, 2024, compared to HKD 2.73 million in the previous year[6]. - Other operating expenses decreased by 15.7% to HKD 8.04 million for the six months ended June 30, 2024, from HKD 9.53 million in the previous year[6]. - The company incurred a net loss of HKD 40,822 related to expected credit loss provisions for receivables, a significant decrease from HKD 1,927,960 in the previous year[43]. - Interest income from clients decreased to HKD 8,209,567 in 2024 from HKD 10,819,207 in 2023, a decline of approximately 24.2%[37]. - Interest expenses on bank loans and other borrowings amounted to HKD 2,576,951 for the six months ended June 30, 2024, compared to HKD 2,433,240 in 2023, reflecting an increase of 5.9%[42]. Assets and Liabilities - Non-current assets totaled HKD 71,405,499 as of June 30, 2024, up from HKD 69,870,643 at the end of 2023, reflecting a growth of 2.2%[10]. - Current assets increased to HKD 257,593,595 from HKD 230,883,565, marking an increase of 11.6%[10]. - The company's cash and cash equivalents rose to HKD 36,126,051, compared to HKD 19,459,659 at the end of 2023, representing an increase of 85.5%[10]. - Current liabilities increased to HKD 153,260,294 from HKD 135,180,151, which is an increase of 13.4%[10]. - The company's total liabilities increased, with interest-bearing bank and other borrowings rising to HKD 101,524,927 from HKD 92,798,487, an increase of 9.9%[10]. - The total value of right-of-use assets was HKD 9,284,917, an increase from HKD 7,075,606 in the previous period, showing a growth of about 31.2%[50]. - The total value of leasehold improvements was HKD 5,054,062, consistent with the previous period, indicating stable investment in this area[50]. Cash Flow and Financing - Net cash generated from operating activities for the six months ended June 30, 2024, is HKD 2,189,500, significantly lower than HKD 25,050,071 in the same period last year[17]. - The net cash flow from investing activities shows a net outflow of HKD 7,001,124, compared to an inflow of HKD 2,452,429 in the previous period[18]. - The company reported a significant increase in cash from the sale of financial assets, amounting to HKD 14,615,452, compared to HKD 4,736,883 in the previous year[17]. - The company issued shares resulting in cash inflow of HKD 18,804,240 during the financing activities[18]. - The company raised approximately HKD 17.70 million from the subscription of 7,200,000 new shares, with a net price of about HKD 2.46 per share[180]. - The total amount recognized in profit or loss related to lease liabilities for the six months ended June 30, 2024, was HKD 1,107,401, down from HKD 2,313,349 for the same period in 2023[66]. Corporate Governance and Compliance - The Audit Committee was established on June 14, 2018, and consists of two independent non-executive directors and one non-executive director[198]. - The Audit Committee reviewed the unaudited interim consolidated financial statements for the six months ending June 30, 2024, and confirmed compliance with applicable accounting standards and GEM listing rules[199]. - The company has fully complied with the corporate governance code as per GEM Listing Rules during the six months ended June 30, 2024[197]. - There were no competitive interests held by directors or controlling shareholders in businesses that may compete with the group during the six months ended June 30, 2024[196]. Strategic Initiatives - The company aims to transform into a comprehensive financial service provider to diversify its revenue sources amid a challenging investment atmosphere[153]. - The company has received asset management service licenses in Japan, Singapore, and China, which are expected to play a significant role in future growth[153]. - The company has launched the VictoryX app, the first licensed financial institution app in Hong Kong to offer both securities and virtual asset trading[155]. - The company is applying for a license to develop a dedicated virtual asset trading platform, aiming to provide comprehensive services for retail and professional investors[156]. - The company has established an in-house R&D team to enhance its capabilities in the virtual asset sector, aligning with its strategic goals[155].
胜利证券(08540) - 2024 - 中期财报