Financial Performance - Revenue for the three months ended June 30, 2021, was HKD 1,964,000, a decrease of 31.8% compared to HKD 2,880,000 for the same period in 2020[10]. - Revenue for the six months ended June 30, 2021, was HKD 4,013,000, down 34.4% from HKD 6,121,000 in the same period of 2020[10]. - The company reported a loss before tax of HKD 4,899,000 for the three months ended June 30, 2021, compared to a loss of HKD 2,686,000 in the same period of 2020[10]. - The total comprehensive loss for the six months ended June 30, 2021, was HKD 10,650,000, an increase of 33.1% from HKD 7,047,000 in the same period of 2020[10]. - The company reported a total loss of HKD 10,650 thousand for the six months ended June 30, 2021, compared to a loss of HKD 7,047 thousand for the same period of 2020[20]. - The pre-tax loss for the six months ended June 30, 2021, was HKD (12,258,000), compared to a loss of HKD (7,986,000) for the same period in 2020, representing a 53.5% increase in losses[50]. - The group recorded a net loss of approximately HKD 10,700,000 for the period, compared to a net loss of about HKD 7,000,000 for the same period in 2020[78]. Cash and Assets - Cash and cash equivalents decreased to HKD 8,863,000 as of June 30, 2021, from HKD 19,559,000 as of December 31, 2020, representing a decline of 54.7%[13]. - The company's total assets less current liabilities amounted to HKD 23,474,000 as of June 30, 2021, down 35.1% from HKD 36,133,000 as of December 31, 2020[13]. - Non-current assets decreased to HKD 16,734,000 as of June 30, 2021, from HKD 19,200,000 as of December 31, 2020, reflecting a decline of 12.9%[13]. - The company's equity totalled HKD 21,001,000 as of June 30, 2021, down 33.9% from HKD 31,651,000 as of December 31, 2020[15]. - The company's total issued share capital remained at HKD 100,000,000 as of June 30, 2021, unchanged from December 31, 2020[60]. - As of June 30, 2021, the group's current assets and working capital were approximately HKD 6,700,000, down from about HKD 16,900,000 as of December 31, 2020, mainly due to the incurred losses[81]. Income Sources - Commission income from Hong Kong market decreased to HKD 686 million for the three months ended June 30, 2021, down from HKD 1,244 million in the same period of 2020[31]. - Commission income from overseas markets decreased to HKD 1,184 million for the three months ended June 30, 2021, compared to HKD 1,457 million in the same period of 2020[31]. - Total revenue from brokerage commissions for the six months ended June 30, 2021, was HKD 4,013 million, a decrease from HKD 6,121 million in the same period of 2020[31]. - Interest income from margin financing decreased to HKD 26 million for the three months ended June 30, 2021, down from HKD 125 million in the same period of 2020[31]. - Other income, including government grants, was HKD 60 million for the three months ended June 30, 2021, compared to HKD 589 million in the same period of 2020[32]. - Other income and gains decreased significantly from about HKD 1,350,000 to approximately HKD 109,000, primarily due to the absence of a one-time monetary subsidy from the Hong Kong government and rental income[76]. Operational Activities - The net cash used in operating activities for the six months ended June 30, 2021, was HKD 8,904 thousand, compared to HKD 11,707 thousand for the same period in 2020, indicating a reduction in cash outflow[22]. - Net cash used in operating activities for the six months ended June 30, 2021, was HKD (8,904,000), an improvement from HKD (11,707,000) in the same period of 2020, indicating a 23.9% reduction in cash outflow[50]. - The company’s financing activities generated a net cash inflow of HKD 776 thousand during the first half of 2021, compared to no inflow in the same period of 2020[22]. Corporate Governance - The company has complied with the applicable provisions of the corporate governance code, except for the separation of roles between the Chairman and the CEO[110]. - Mr. Pan Guohua serves as both Chairman and CEO, which the board believes is in the best interest of the company[112]. - The board is committed to regularly reviewing and improving its corporate governance practices[113]. - The Audit Committee has been established in accordance with GEM Listing Rules section 5.28 and is responsible for reviewing the company's annual reports, interim reports, and quarterly reports[117]. - The Audit Committee consists of three independent non-executive directors, ensuring compliance with GEM Listing Rules section 5.05(2)[117]. Shareholder Information - As of June 30, 2021, the total issued shares of the company amounted to 800,000,000 shares[99]. - Mr. Pan Guohua holds 559,504,000 shares, representing approximately 69.94% of the company's issued share capital[103]. - The company has not granted any share options under the share option scheme since its adoption on December 19, 2017[106]. - There were no arrangements made that would allow directors or key executives to acquire shares or bonds of the company during the six months ended June 30, 2021[107]. Future Plans and Developments - The company continues to focus on its core business of futures and options brokerage, stock options, and securities brokerage services[30]. - The group has launched a new securities brokerage business and conducted multiple marketing activities to attract potential clients[79]. - The group plans to enhance its IT capabilities to provide more self-service options for clients and strengthen compliance and operational capabilities[89]. - The company has not reported any significant new product developments or market expansions during the reporting period[24]. - There were no significant investments or acquisitions during the period ended June 30, 2021[86].
立桥证券控股(08350) - 2021 - 中期财报