Financial Performance - For the nine months ended December 31, 2018, the group recorded unaudited revenue of approximately HKD 35.5 million, an increase of about 17.6% compared to HKD 30.2 million for the same period in 2017[5]. - The adjusted profit for the nine months ended December 31, 2018, was approximately HKD 2.4 million, a decrease of 46.7% from HKD 4.5 million for the same period in 2017[5]. - The total comprehensive loss for the nine months ended December 31, 2018, was HKD 10.4 million, compared to a total comprehensive income of HKD 0.058 million for the same period in 2017[9]. - The group reported a revenue of HKD 11.1 million for the three months ended December 31, 2018, compared to HKD 9.4 million for the same period in 2017[9]. - The company’s revenue for the nine months ended December 31, 2018, was approximately HKD 35,489,000, an increase of about HKD 5,303,000 or 17.6% compared to HKD 30,186,000 for the same period in 2017[35]. - The total revenue for the three months ended December 31, 2018, was HKD 11,103,000, an increase from HKD 9,449,000 in 2017, representing a growth of approximately 17.5%[25]. User Growth - The registered user count for the open securities trading platform "TradeGo Public Version" reached approximately 109,000, an increase of about 19.8% from 91,000 as of December 31, 2017[5]. - The number of registered users for the open securities trading platform "Trading Treasure Public Version" increased to approximately 109,000, up by about 18,000 or 19.8% from 91,000 as of December 31, 2017[35]. Losses and Costs - The basic loss per share attributable to owners of the company for the nine months ended December 31, 2018, was HKD 2.32, compared to a basic loss of HKD 0.05 for the same period in 2017[5]. - The group experienced a net loss of HKD 9.68 million for the nine months ended December 31, 2018, compared to a net gain of HKD 1.378 million for the same period in 2017[9]. - Employee costs for the period were approximately HKD 16,240,000, an increase compared to HKD 10,378,000 for the same period in 2017[43]. - Sales, general, and administrative expenses for the period were approximately HKD 5,267,000, an increase from HKD 3,260,000 for the nine months ended December 31, 2017, primarily due to increased professional fees and other administrative expenses[46]. - The group recorded a net loss of approximately HKD 9,683,000 for the period, compared to a loss of approximately HKD 204,000 for the nine months ended December 31, 2017, mainly due to increased listing expenses, sales, general and administrative expenses, and employee costs[47]. Accounting Standards and Adjustments - The impact of the initial application of HKFRS 9 and HKFRS 15 resulted in adjustments to trade and other receivables totaling HKD 11,518,000[18]. - The total liabilities increased by HKD 20,964,000 due to the adjustments from the new accounting standards[18]. - The company recognized an additional expected credit loss of approximately HKD 170,000 due to the adoption of the expected credit loss model under HKFRS 9[20]. - The cumulative loss as of April 1, 2018, increased by a net amount of HKD 4,453,000 due to the transition to HKFRS 15, which includes a delay in revenue recognition[21]. - The company expects that the adoption of HKFRS 15 will not have a significant impact on its future financial position and performance[23]. - The company anticipates that the new classification and measurement regulations under HKFRS 9 will not have a significant impact on the accounting treatment of its financial assets[20]. - The company has assessed the impact of adopting the expected credit loss model and does not expect a significant increase in credit losses for trade receivables[20]. Future Plans and Developments - The company plans to enhance its integrated securities trading platform services and expand its customer base through improved service offerings and marketing activities[40]. - A global futures trading platform is expected to be officially launched in January 2019, integrating front-end and back-end trading systems[40]. - The company initiated the development of the "China-Hong Kong Data Treasure" and plans to officially launch it in the second half of 2019[36]. - The group plans to allocate approximately 14.7% (HKD 6.6 million) of the net proceeds to develop innovative products and enhance R&D capabilities[50]. - Approximately 37.5% (HKD 16.8 million) of the net proceeds will be used to establish a domestic R&D center[50]. Shareholder Information - As of December 31, 2018, the total number of issued shares was 500,000,000[54]. - Major shareholder, Maojia Holdings Limited, holds 154,264,654 shares, representing 30.85% of total shares[57]. - VMI Mega Growth Fund owns 56,250,000 shares, accounting for 11.25% of total shares[57]. - Liu Xiaoming holds a spouse interest in 228,303,791 shares, which is 45.66% of total shares[57]. Corporate Governance - The company has complied with all applicable provisions of the corporate governance code as per GEM Listing Rules, except for the separation of the roles of Chairman and CEO, which are held by Mr. Liu Yong[67]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the nine months ended December 31, 2018, and confirmed compliance with applicable accounting standards and GEM Listing Rules[72]. - The company has adopted a code of conduct for securities trading by directors, which meets the standards set out in GEM Listing Rules[68]. - The company has established a non-competition agreement with key stakeholders to protect its interests[65]. - The company has maintained a balanced distribution of power and authority within the board, with over one-third being independent non-executive directors[67]. - The audit committee has been established to oversee financial reporting procedures and internal control systems[72].
捷利交易宝(08017) - 2019 Q3 - 季度财报