Financial Performance - For the fiscal year ending March 31, 2019, the revenue was approximately HKD 46,311,429, an increase of about 7.2% compared to HKD 43,209,034 for the previous year[9]. - The loss for the reporting period was HKD 17,697,740, compared to a loss of HKD 1,069,348 for the previous year[10]. - The company's revenue for the reporting period was HKD 46,311,429, an increase of HKD 3,102,395 or 7.2% compared to the previous year[30]. - The company reported a pre-tax loss of HKD 16,892,454, compared to a pre-tax profit of HKD 643,186 in the previous year, mainly due to increased expenses[38]. - The net loss for the period was HKD 17,697,740, compared to a loss of HKD 1,069,348 in the previous year, driven by increased operational costs[40]. - The loss per share during the reporting period was HKD 4.06, an increase of HKD 3.77 or 1,300% compared to the loss of HKD 0.29 per share in the same period last year[41]. Research and Development - Research and development expenses increased to HKD 9,322,658, representing a 90.9% increase from HKD 4,882,728 in the previous year[10]. - The company plans to enhance its research and development capabilities by recruiting additional R&D personnel to meet market demands and regulatory requirements[23]. - The company is developing the "China-Hong Kong Connect Data Treasure" and "Trading Counter" products to enhance its trading capabilities and improve order processing efficiency[20]. - The company completed the development of a customized solution for employee stock option management, which was launched in November 2018 with positive market feedback[16]. User Growth and Market Expansion - The number of registered users for the open securities trading platform "TradeGo Public Version" increased to approximately 112,000, up by about 16,000 or 16.7% from 96,000 the previous year[11]. - The company signed new service contracts with 14 Hong Kong brokers during the reporting period, expanding its integrated front office trading system services[15]. - The company aims to strengthen its integrated securities trading platform services by improving existing service offerings and developing new ones, as well as expanding its customer base[21]. - The establishment of the Guangdong-Hong Kong-Macao Greater Bay Area presents unprecedented development opportunities and competitive challenges for the company[15]. Financial Position and Cash Flow - As of March 31, 2019, cash and cash equivalents amounted to HKD 48,918,156, an increase of HKD 40,830,930 or 504.9% compared to HKD 8,087,226 as of March 31, 2018[42]. - The net current assets as of March 31, 2019, were HKD 38,730,100, up from HKD 4,423,273 as of March 31, 2018[44]. - Direct costs decreased to HKD 11,284,212, a reduction of HKD 624,766 or 5.2% from the previous year, primarily due to adjustments in licensing fees paid to data providers[30]. - Other income increased significantly to HKD 435,391, up HKD 301,983 or 226.4% year-on-year, mainly driven by increased interest income and government subsidies[31]. Corporate Governance and Management - The company reported a significant increase in overall management and strategic development under the leadership of its executive directors, with a focus on compliance and financial oversight[60][64]. - The management team has over 10 years of experience in the financial industry, contributing to the company's strategic direction and decision-making processes[60][61]. - The independent directors bring extensive experience in corporate governance, financial management, and legal affairs, enhancing the company's oversight capabilities[65][69][71]. - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[174]. Shareholder Information - As of March 31, 2019, the total number of issued shares was 500,000,000[146]. - Liu Yong holds 228,303,791 shares, representing 45.66% of the total shares[144]. - Maojia Holdings Limited owns 154,264,654 shares, accounting for 30.85% of the total shares[144]. - The total shareholding structure indicates significant control by a few major shareholders[144]. Risk Management - The company faces risks related to rapid changes in the integrated securities trading platform market and potential cybersecurity threats[90]. - The company has established a risk management system to monitor market trends and competitor activities[90]. - The focus on compliance and risk management is critical to maintaining investor confidence and ensuring sustainable growth[64][71]. Employee and Environmental Commitment - The company is committed to environmental protection and seeks to minimize its operational impact on the environment[92]. - The company emphasizes the importance of maintaining good relationships with employees, customers, and suppliers for achieving its goals[88]. - The company has established an incentive plan to reward participants for their contributions to business growth[114]. Audit and Compliance - The independent auditor, KPMG, audited the consolidated financial statements for the year ended March 31, 2019[169]. - The audit committee reviewed the consolidated financial statements and confirmed compliance with applicable accounting standards and GEM listing rules[171]. - The company adhered to the corporate governance code as per GEM listing rules, with an exception noted for code provision A.2.1[173].
捷利交易宝(08017) - 2019 - 年度财报