Financial Performance - The Group recorded a loss on listed securities of approximately HK$194.8 million for the fiscal year 2017/18, a significant reduction from the loss of approximately HK$525.5 million in the previous year[10]. - For the fiscal year ended September 30, 2018, the Group reported a negative turnover of approximately HK$179.8 million, a decrease from HK$516.2 million in the previous year[36]. - The net loss attributable to equity holders of the Company was approximately HK$244.4 million, down from HK$588.0 million in the previous year[36]. - The loss on financial asset investments decreased from HK$525.5 million in the previous year to HK$194.8 million in the current year, reflecting a reduction of approximately HK$330.7 million[36]. - The Group recorded a loss of approximately HK$41.8 million related to unlisted investments, slightly down from HK$41.9 million in the previous year[37]. Investment Activities - The Group disposed of 29% of the share capital of Uni-Venture International Investment Limited for HK$40.0 million, resulting in a gain of HK$5.5 million[11]. - The Group acquired two bonds during the year, one with a size of HK$30 million and a coupon of 11%, and another with a size of HK$30 million and a coupon of 12%[11]. - The fair value of the Group's bond investments was approximately HK$120.3 million, which is expected to provide steady income flows[11]. - The Group's investment in bonds issued by Rich Circle Investment Limited matured in August 2018, and the bond was redeemed at a 4% coupon rate[11]. - The Group's investment in Kendervon Profits Inc. was affected by the keen competition in the gold trading market in Hong Kong, leading to a loss in fair value[16]. Market Conditions - The Hang Seng Index peaked at over 33,000 points in January 2018 but fell to 27,788 points by the end of the fiscal year, reflecting market instability[10]. - The Group anticipates a challenging global investment environment due to the ongoing US-China trade war, which is expected to impact capital markets and economic growth[21]. - The Group's investment strategy will continue to be cautious due to the changing global investment environment influenced by the trade war between China and the United States[18]. Corporate Governance - The Board consists of two executive directors and three independent non-executive directors, with all members confirming their independence according to the Listing Rules[74]. - The Company has a strong corporate governance structure to ensure effective oversight of management and decision-making processes[81]. - The Audit Committee, chaired by Mr. Cheung Wai Kin, is responsible for overseeing the Group's financial reporting and risk management systems[90]. - The Company ensures compliance with the latest Listing Rules and regulatory requirements through continuous training for all directors[87]. - The Board has adopted a board diversity policy considering factors such as gender, age, cultural background, and professional experience to achieve board diversity[102]. Risk Management - The Board is committed to implementing effective risk management and internal control systems to safeguard shareholders' interests and the Group's assets[111]. - The internal control procedures are designed to safeguard assets against unauthorized use, control capital expenditure, and maintain proper accounting records[112]. - The Audit Committee reviewed the efficiency and effectiveness of the Group's risk management and internal control systems, covering revenue and receipt cycle, cash management, and financial reporting cycle[125]. - The management provided an action plan to address identified deficiencies in the risk management and internal control systems in a timely manner[126]. - The Group's risk management and internal control processes are adequate for the current business environment and will continue to be reviewed and updated as necessary[127]. Employee and Stakeholder Engagement - The Group emphasizes the importance of employee well-being and community contributions in its operations[156]. - The Company views employees as its most valuable asset, emphasizing the importance of a respectful and fair work environment[200]. - Recruitment and promotion opportunities are open and fair for all employees, regardless of various personal factors[200]. - Employee feedback on improving workplace productivity and harmony is carefully considered[200]. - The Group encourages shareholder participation in annual general meetings to facilitate direct communication with the Board[134]. Environmental, Social, and Governance (ESG) Initiatives - The Environmental, Social and Governance (ESG) Report highlights the Group's commitment to sustainable development and minimizing environmental impact[148]. - The Group's sustainability strategy includes ongoing communication with stakeholders to align business practices with their expectations[161]. - The Group is committed to environmental protection and energy-saving equipment usage, contributing to sustainability efforts[172]. - The Group's core business does not directly generate significant air emissions, hazardous waste, or wastewater discharge, with greenhouse gas emissions primarily from electricity consumption and fuel used in vehicles[170]. - The company promotes green initiatives among employees, encouraging practices such as switching off lights and appliances when not in use[182].
首都创投(02324) - 2018 - 年度财报