Financial Performance - Revenue for the three months ended December 31, 2020, was HKD 1,050,000, a decrease of 85% compared to HKD 7,010,000 for the same period in 2019[11] - The company reported a loss of HKD 914,000 for the three months ended December 31, 2020, compared to a profit of HKD 1,880,000 in the same period of 2019[11] - Basic and diluted loss per share was HKD 0.09 for the current period, down from earnings of HKD 0.19 per share in the previous year[11] - The company’s total comprehensive loss for the period was HKD 914,000, compared to a total comprehensive income of HKD 1,880,000 in the same period of 2019[11] - The net loss for the three months ended December 31, 2020, was approximately HKD 0.9 million, compared to a net profit of HKD 1.9 million for the same period in 2019[41] Other Income and Gains - Other income and gains for the same period amounted to HKD 3,650,000, significantly up from HKD 159,000 in 2019[11] - Other income included approximately HKD 3.1 million in realized and unrealized gains on financial assets measured at fair value, and HKD 0.3 million from the Hong Kong government's employment support scheme[35] - Foreign exchange gains contributed HKD 213,000 to other income, which was not reported in the same period of 2019[20] Equity and Investments - The total equity as of December 31, 2020, was HKD 44,410,000, a decrease from HKD 45,324,000 at the end of the previous period[13] - The total value of the equity investment portfolio held by the company was approximately HKD 15.0 million as of December 31, 2020[43] - The total value of financial assets measured at fair value through profit or loss increased by 31.9% from HKD 12,958,000 to HKD 15,035,000[52] - The significant investments in JD.com and Blue Moon Group accounted for less than 0.1% of the total assets, with JD.com valued at HKD 8,000,000 and Blue Moon Group at HKD 175,000,000[52] - The realized fair value gains for JD.com were HKD 134,000 and for Blue Moon Group were HKD 71,000, while other investments generated HKD 928,000 in realized gains[54] - The total unrealized fair value gains for the period amounted to HKD 2,077,000, indicating a strong performance compared to bank deposit interest income[54] - The major investments in the portfolio showed a return exceeding bank deposit interest income during the reporting period[54] Operating Expenses - The company incurred employee benefit expenses of HKD 4,533,000, an increase from HKD 3,904,000 in the previous year[11] - Employee benefit expenses increased to approximately HKD 4.5 million for the three months ended December 31, 2020, up from approximately HKD 3.9 million in 2019, primarily due to an increase in performance-related bonuses[36] - Other operating expenses for the three months ended December 31, 2020, were approximately HKD 0.7 million, a slight decrease from approximately HKD 1.0 million in 2019[37] Corporate Governance - The board of directors confirmed compliance with the GEM Listing Rules regarding corporate governance, with some deviations explained[57] - The audit committee has been established in accordance with GEM Listing Rules, consisting of three independent non-executive directors[74] - The audit committee is responsible for reviewing the group's annual, semi-annual, and quarterly reports, as well as providing recommendations on the appointment and dismissal of external auditors[74] - The unaudited consolidated performance for the three months ending December 31, 2020, has been reviewed by the audit committee[76] Market Conditions and Future Outlook - The company anticipates facing pressure in its operating environment due to the ongoing COVID-19 pandemic and geopolitical tensions, which may adversely affect its activities and transaction processes[32] - The management believes that providing high-quality advisory services will continue to create value for shareholders despite the challenging environment[32] - The company expects continued volatility in the stock market and will maintain a cautious approach to investment decisions to balance risk and return[54] Dividends - The company did not declare any dividends for the three months ended December 31, 2020, compared to HKD 0.004 per share in 2019[26] Advisory Services - The company generated advisory fees of HKD 980,000 from financial advisory services, down from HKD 6,260,000 in the prior year[19] - The number of institutional financing advisory transactions decreased to seven during the three months ended December 31, 2020, down approximately 66.7% from 21 transactions in the same period of 2019[34] Shareholding Structure - The major shareholder, Ms. Xie, holds a 75% stake in the company through Access Cheer Limited[64]
宝积资本(08168) - 2021 Q1 - 季度财报