Financial Performance - The group's revenue for the six months ended September 30, 2020, was approximately HKD 41,811,000, a decrease of about 15% compared to the same period last year[10]. - Gross profit for the same period was approximately HKD 39,570,000, down from HKD 41,307,000 in the previous fiscal year[10]. - The profit attributable to the owners of the company for the six months was approximately HKD 7,780,000, compared to a loss of HKD 23,872,000 in the same period last year[10]. - Basic and diluted earnings per share for the six months were HKD 0.36, compared to a loss per share of HKD 1.08 in the previous year[20]. - The company reported a total comprehensive income of HKD 15,134,000 for the six months, compared to a loss of HKD 8,841,000 in the same period last year[20]. - The financial services segment revenue reached HKD 27,319,000, while horse services segment revenue was HKD 14,492,000, totaling HKD 41,811,000 for the period ending September 30, 2020[50]. - The financial services segment reported a profit of HKD 31,786,000, whereas the horse services segment incurred a loss of HKD 441,000, resulting in a total profit of HKD 32,227,000[50]. - For the same period in 2019, total revenue was HKD 49,464,000, indicating a decrease of approximately 15.5% year-over-year[59]. - The company reported a pre-tax profit of HKD 7,780,000 for the six months ending September 30, 2020, compared to a pre-tax loss of HKD 23,479,000 for the same period in 2019[58]. Expenses and Costs - Administrative expenses and finance costs for the six months were HKD 39,315,000, a decrease from HKD 65,716,000 in the previous year[13]. - Other operating income for the six months was HKD 2,425,000, down from HKD 4,691,000 in the previous year[13]. - The company experienced a significant reduction in direct costs, which were HKD 2,241,000 for the six months, compared to HKD 8,157,000 in the previous year[13]. - The company’s employee benefits expenses, including directors' remuneration, totaled HKD 11,110,000 for the six months ending September 30, 2020[65]. - The total employee compensation for the six months ended September 30, 2020, was approximately HKD 13,983,000, compared to HKD 14,847,000 in 2019[141]. Assets and Liabilities - As of September 30, 2020, the company's non-current assets totaled HKD 93,067,000, slightly down from HKD 93,475,000 as of March 31, 2020[23]. - The company's current assets increased to HKD 769,903,000 from HKD 465,135,000, reflecting a significant growth in cash and cash equivalents, which rose to HKD 124,760,000 from HKD 110,506,000[23]. - The total equity of the company increased to HKD 125,698,000 from HKD 110,564,000, indicating a positive trend in the company's financial health[26]. - The company's total liabilities decreased to HKD 180,097,000 from HKD 186,156,000, showing improved management of obligations[26]. - The current liabilities increased significantly to HKD 557,175,000 from HKD 261,890,000, suggesting a rise in short-term obligations[23]. - Trade receivables as of September 30, 2020, amounted to HKD 11,328,000, an increase from HKD 5,601,000 as of March 31, 2020[89]. - The expected credit loss provision for trade receivables was HKD (3,788,000) as of September 30, 2020, compared to HKD (5,004,000) as of March 31, 2020[89]. - The balance of property, plant, and equipment as of September 30, 2020, was HKD 99,098,000, up from HKD 86,529,000 as of March 31, 2020[86]. - The accumulated depreciation as of September 30, 2020, was HKD 60,212,000, compared to HKD 52,081,000 as of March 31, 2020[86]. - The net book value of property, plant, and equipment as of September 30, 2020, was HKD 38,886,000, an increase from HKD 34,448,000 as of March 31, 2020[86]. - The group’s trade payables as of September 30, 2020, were HKD 511,706,000, compared to HKD 208,139,000 as of March 31, 2020[96]. Dividends and Shareholder Information - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2020, consistent with the previous year[10]. - The company did not recommend any interim dividend for the six months ending September 30, 2020, consistent with the previous year[70]. - As of September 30, 2020, the company had a total of 1,436,260,290 ordinary shares held by Mr. Zheng Dinggang, representing 66.13% of the issued shares[150]. - The total number of unexercised share options as of September 30, 2020, was 107,263,864, with exercise prices ranging from HKD 0.315 to HKD 1.260[162]. - First Cheer Holdings Limited, which is beneficially owned by Mr. Zheng Dinggang and Mr. Zhou Zhuohua, holds 1,435,009,040 shares, accounting for 66.08% of the issued shares[169]. - Raywell Holdings Limited holds 135,430,000 shares, representing 6.24% of the issued shares[169]. - Raywell Holdings Limited is wholly owned by Mr. Yang Keqin, who is deemed to have an interest in 135,430,000 shares of the company[170]. - The company has not received any notifications regarding any other relevant interests or short positions in the company's shares as of September 30, 2020[170]. Corporate Governance and Compliance - The Audit Committee, consisting of three independent non-executive directors, reviewed the financial results for the six months ended September 30, 2020[177]. - The company has complied with all provisions of the corporate governance code as per GEM Listing Rules, except for one deviation regarding the attendance of the chairman at the annual general meeting[184]. - No purchases, redemptions, or sales of the company's listed securities were made by the company or its subsidiaries during the review period[185]. - The board of directors includes three executive directors and three independent non-executive directors as of the report date[186]. Future Outlook and Strategy - The company aims to improve operational efficiency and explore new market opportunities in the upcoming quarters[10]. - The group has identified additional new business opportunities in the financial services segment while continuing to execute cost control measures[124]. - The group aims to improve operational efficiency and effectiveness while seeking strategic alliances to accelerate business development and enhance financial conditions[131]. - The group anticipates that the current economic situation will pose significant challenges in 2020, particularly due to the impact of the COVID-19 pandemic and trade disputes[131]. - The group believes that the sale of Sun Kingdom Pty Ltd will have a positive impact on its performance[125]. - The group has successfully obtained several authorizations for placement and other corporate financing projects since taking over the target company's business on February 29, 2016[127]. - The group has no assets pledged under finance leases as of September 30, 2020, compared to zero in 2019[133]. - The group has not established any foreign exchange hedging arrangements and must closely monitor foreign currency exchange rate changes to manage foreign exchange risks[134].
帝国金融集团(08029) - 2021 - 中期财报