Financial Performance - The company recorded unaudited revenue of approximately HKD 34,600,000 for the nine months ended December 31, 2019, a decrease of about 5.7% compared to the same period last year [3] - The unaudited profit attributable to the owners of the company for the nine months ended December 31, 2019, was approximately HKD 28,300,000, an increase of about 48.3% year-on-year [3] - Basic and diluted earnings per share for the nine months ended December 31, 2019, were approximately HKD 1.29, compared to HKD 0.87 for the same period in 2018 [3] - For the three months ended December 31, 2019, the company reported revenue of HKD 10,057,216, down from HKD 13,051,893 in the same quarter of 2018 [5] - The company achieved a pre-tax profit of HKD 16,480,989 for the three months ended December 31, 2019, compared to HKD 4,188,724 for the same period in 2018 [5] - The total comprehensive income attributable to the owners of the company for the three months ended December 31, 2019, was HKD 15,370,422, significantly higher than HKD 3,868,899 in the previous year [5] - The company reported a profit attributable to owners of the company of HKD 28,275,044 for the nine months ended December 31, 2019, compared to HKD 19,061,920 for the same period in 2018 [23] - The basic earnings per share for the nine months ended December 31, 2019, was calculated based on a weighted average of 2,200,000,000 ordinary shares issued during the period [23] Dividends - The company did not recommend the payment of an interim dividend for the nine months ended December 31, 2019, consistent with the previous year [3] - The company did not recommend the distribution of an interim dividend for the nine months ended December 31, 2019 [22] Revenue Sources - The group's revenue from operations for the nine months ended December 31, 2019, was approximately HKD 34,600,000, a decrease of about 11.3% or HKD 4,400,000 compared to approximately HKD 39,000,000 in the same period of 2018 [26] - Securities and futures brokerage income decreased by approximately 18.1% from about HKD 7,200,000 for the nine months ended December 31, 2018, to about HKD 5,900,000 for the same period in 2019 [27] - Total trading volume for securities transactions was approximately HKD 37,186,600,000 for the nine months ended December 31, 2019, compared to approximately HKD 138,996,200,000 in the same period of 2018, indicating a significant decline [27] - Interest income from customer securities and margin accounts or futures accounts increased by approximately 6.3%, reaching about HKD 9,300,000 for the nine months ended December 31, 2019, compared to approximately HKD 8,800,000 in the same period of 2018 [27] Expenses - The company reported total administrative expenses of HKD 4,495,516 for the three months ended December 31, 2019, compared to HKD 6,128,735 in the same period of 2018 [5] - The group's administrative expenses for the nine months ended December 31, 2019, were approximately HKD 13,000,000, a decrease of about 26.5% compared to approximately HKD 17,700,000 for the same period in 2018 [36] Other Income and Gains - The company recorded other income and gains of approximately HKD 9,834,062 for the nine months ended December 31, 2019, compared to HKD 1,311,147 in the same period of 2018 [19] - Other income, gains, and losses for the nine months ended December 31, 2019, amounted to approximately HKD 9,900,000, an increase of about HKD 8,600,000 from approximately HKD 1,300,000 for the same period in 2018 [35] Share Options and Corporate Governance - As of December 31, 2019, the total number of shares that can be granted under the share option plan is capped at 110,000,000 shares, representing 5% of the company's total shares [43] - The total number of unexercised share options granted under the share option plan as of December 31, 2019, is 100,000,000 shares, equivalent to approximately 4.55% of the company's issued share capital [44] - The fair value of the granted share options on the grant date is HKD 8,275,000, calculated using the Black-Scholes model [47] - The expected volatility used in the fair value calculation is 55.019% [47] - Major shareholder Zillion Profit Limited holds 1,500,000,000 shares, representing 68.18% of the company's shares [53] - The company did not purchase, sell, or redeem any of its listed securities during the nine months ended December 31, 2019 [55] - The company has adopted a code of conduct for directors' securities transactions, which complies with GEM Listing Rules [58] - The total number of share options granted to directors as of December 31, 2019, is 60,000,000 shares [50] - Any further grant of share options exceeding the 1% limit must be approved by shareholders at a general meeting [43] - The exercise price of any designated share options cannot be lower than the highest of the closing price on the grant date or the average closing price over the five trading days preceding the grant date [44] - The company has complied with all corporate governance code provisions as per GEM Listing Rules Appendix 15 for the nine months ending December 31, 2019, with a noted deviation regarding the separation of roles between the Chairman and the CEO [62] - The company currently does not have a Chairman position, with daily operations managed by the CEO and executive directors, ensuring a balanced distribution of power and authority [60] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated results for the nine months ending December 31, 2019, confirming compliance with applicable accounting standards and regulations [63] - The company plans to elect a new Chairman when appropriate circumstances arise [61] - The board is composed of experienced individuals who regularly meet to discuss operational matters affecting the company [60] Future Plans - The group plans to continue expanding its margin and loan financing business as well as its securities advisory services to meet customer needs [40] - The group has no significant investment or acquisition plans as of December 31, 2019, but will actively seek investment opportunities to enhance profitability [39] - The group aims to become a leading financial services group in Hong Kong and will continue to explore potential opportunities for new revenue sources [40] Market Performance - The Hang Seng Index closed at approximately 28,190 points on December 31, 2019, a decrease of about 3.0% from approximately 29,051 points on March 31, 2019 [25] Fair Value Changes - The company recorded a net fair value change of HKD 1,274,609 for the three months ended December 31, 2019, compared to a loss of HKD 2,817,440 in the same quarter of 2018 [5] - The group experienced a trading loss of approximately HKD 300,000 from financial assets measured at fair value through profit or loss for the nine months ended December 31, 2019 [32]
昌利控股(08098) - 2020 Q3 - 季度财报