Financial Performance - For the nine months ended September 30, 2019, the total revenue was approximately HKD 18,225,000, a decrease of about 51.5% compared to HKD 37,636,000 for the same period last year[15]. - The brokerage commission income for the nine months was approximately HKD 18,200,000, down from HKD 37,600,000, reflecting a decrease of about 51.7%[15]. - The group recorded a loss of approximately HKD 5,634,000 for the three months ended September 30, 2019, compared to a profit of HKD 8,871,000 for the same period last year[20]. - The total comprehensive income for the nine months was HKD (5,550,000), compared to HKD 13,816,000 for the same period last year[20]. - The basic and diluted loss per share for the nine months was HKD (0.69), compared to earnings of HKD 1.75 for the same period last year[20]. - For the three months ended September 30, 2019, the company reported a basic and diluted loss per share of (0.70) HKD, compared to a profit of 1.11 HKD for the same period in 2018[36]. - For the nine months ended September 30, 2019, the company reported a basic and diluted loss per share of (0.69) HKD, compared to a profit of 1.75 HKD for the same period in 2018[36]. - The company reported a loss of HKD 5,550,000 for the period, contributing to a retained earnings deficit of HKD 8,826,000[21]. Revenue Sources - The average commission fee from index futures and options trading was approximately HKD 12,900,000, down from HKD 22,100,000 in the previous year[15]. - Commission income from futures and options trading in the Hong Kong market was HKD 6,089,000 for the nine months ended September 30, 2019, down from HKD 7,888,000 in the same period of 2018, representing a decrease of 22.7%[29]. - Total commission income from overseas markets for the same period was HKD 11,804,000, a decline of 60.3% compared to HKD 29,748,000 in 2018[29]. - The company generated interest income from margin financing of HKD 238,000 for the nine months ended September 30, 2019, compared to no income in the same period of 2018[29]. Expenses - Operating and administrative expenses increased by approximately HKD 4,600,000 or about 33.9%, primarily due to increased marketing expenses of about HKD 3,000,000[17]. - Salary and other benefits increased by 15.6% due to business expansion since the beginning of 2019[16]. - Employee costs for the nine months ended September 30, 2019, totaled HKD 5,945,000, an increase of 15.7% from HKD 5,141,000 in 2018[31]. - The company incurred operating lease expenses of HKD 1,999,000 for the nine months ended September 30, 2019, compared to HKD 1,949,000 in the same period of 2018[33]. Market Conditions - The company experienced a significant decline in client investment sentiment due to the escalation of the US-China trade war and local political conflicts in Hong Kong[18]. - The company anticipates that the challenging market conditions may continue to impact financial performance in the fourth quarter of 2019 and potentially into the first quarter of 2020[18]. Equity and Shareholder Information - For the nine months ended September 30, 2019, the total equity amounted to HKD 64,384,000, a decrease from HKD 81,067,000 as of January 1, 2019[21]. - The company’s major shareholders, Mr. Pan Guohua and Mr. Chen Yingliang, collectively hold 69.94% of the issued share capital[42]. - The total number of issued shares of the company as of the report date is 800,000,000 shares[51]. Corporate Governance - The audit committee has reviewed the unaudited results for the nine months ended September 30, 2019, and confirmed compliance with applicable accounting standards and GEM listing rules[63]. - The company has adhered to the corporate governance code, except for a deviation regarding the separation of roles between the chairman and CEO[58]. - The company is committed to regularly reviewing and improving its corporate governance practices[60]. - The company has established an audit committee to oversee financial reporting, risk management, and internal controls[63]. Business Operations - The company has not engaged in any business activities since its establishment in July 2016, except for a group reorganization in October 2017[23]. - As of September 30, 2019, the company had two subsidiaries, Excalibur Finance Limited and Shenzhen Qianhai Excalibur Investment Consulting Limited, which had no actual business operations[23]. - The company did not declare any dividends for the three months ended September 30, 2019, while a dividend of 0.01 HKD per share was declared for the same period in 2018[38]. - The company has not purchased, sold, or redeemed any of its listed securities during the nine months ended September 30, 2019[61]. - The company has not granted any stock options under the stock option plan adopted on December 19, 2017, up to the date of this report[53]. - As of September 30, 2019, there were no arrangements that would give directors or key executives rights to acquire securities of the company or its affiliates[54]. - No directors or major shareholders had interests in any competing businesses as of September 30, 2019[55]. - The compliance advisor has confirmed that there are no interests in the company's equity by its employees or directors as of September 30, 2019[57].
立桥证券控股(08350) - 2019 Q3 - 季度财报