Financial Performance - The interim financial report for First Credit Finance Group Limited shows a total revenue of 26,465.54 million for the period ending June 30, 2021[1]. - Revenue for the six months ended June 30, 2021, was HK$27,438,408, representing a 30.2% increase from HK$21,066,098 in the same period of 2020[19]. - Profit before tax for the six months ended June 30, 2021, was HK$1,254,584, compared to a loss of HK$53,172,217 in the same period of 2020[19]. - Loss attributable to owners of the Company for the period was HK$56,874,902, a significant improvement from a loss of HK$159,584,965 in the prior year[19]. - The Group reported a profit before tax of HK$10,984,002 for the six months ended June 30, 2021, compared to a loss of HK$159,416,918 in 2020[57]. - The unaudited consolidated loss attributable to owners of the Company was approximately HK$56.87 million for the Review Period, a decrease from approximately HK$159.58 million for the same period in 2020[134]. Assets and Liabilities - Total non-current assets as of June 30, 2021, amounted to HK$268,874,482, an increase from HK$256,269,234 as of December 31, 2020[22]. - Current assets decreased to HK$181,696,902 as of June 30, 2021, down from HK$252,247,435 at the end of 2020[22]. - Net current assets were HK$167,533,889, a decrease from HK$237,709,673 at the end of 2020[22]. - Total equity as of June 30, 2021, was HK$435,068,449, down from HK$491,943,351 at the end of 2020[22]. - Total loans receivables amounted to HK$956,835,935 as of June 30, 2021, a decrease from HK$966,628,879 as of December 31, 2020[71]. - The impairment allowance on individual assessment increased to HK$441,053,690 as of June 30, 2021, compared to HK$360,257,902 as of December 31, 2020[71]. Cash Flow - Net cash generated from operating activities for the six months ended June 30, 2021, was HK$20,246,853, a significant increase from HK$3,241,857 in the same period of 2020[29]. - Net cash used in investing activities was HK$18,049,091, compared to HK$492,970 in the prior year, indicating increased investment activity[29]. - Cash and cash equivalents at the end of the period were HK$15,066,117, down from HK$16,877,964 at the end of the previous period[29]. - The net increase in cash and cash equivalents for the six months was HK$688,162, contrasting with a decrease of HK$203,926 in the same period of 2020[29]. Corporate Governance - The directors of the company accept full responsibility for the accuracy and completeness of the information provided in the report[5]. - The Company has complied with all code provisions of the Corporate Governance Code except for A.2.1 to A.2.9 due to the vacancy of the chairman position[168]. - The Board received adequate information and relevant documents before meetings, ensuring informed discussions and prompt decision-making[169]. - The Company is committed to maintaining high standards of corporate governance to safeguard shareholders' interests[168]. Market and Investment Risks - The company acknowledges the higher investment risks associated with small and mid-sized companies listed on GEM, which may lead to increased market volatility[2]. - There is no assurance of a liquid market for securities traded on GEM, highlighting potential challenges for investors[3]. - The Group is actively exploring potential investment opportunities, including bonds and equity securities, to maximize shareholder value[102]. - The Group will continue to monitor its capital base to ensure sufficient funding for various potential opportunities[102]. Operational Highlights - The report does not disclose any new product developments or technological advancements during the reporting period[1]. - There are no mentions of market expansion or mergers and acquisitions in the interim report[1]. - The company has not provided specific future outlook or performance guidance in the available content[1]. - The company maintained strict control over outstanding loans receivables to minimize credit risk, with overdue balances regularly reviewed by management[73]. Shareholder Information - The Group's issued and fully paid share capital consisted of 3,628,800,000 ordinary shares at HK$0.02 each as of June 30, 2021[90]. - The maximum number of ordinary shares that may be issued under the Share Option Scheme is 362,880,000, representing 10% of the issued ordinary shares as of the report date[167]. - No share options have been granted under the Share Option Scheme since its adoption on November 24, 2011[167]. - The Company has not purchased, sold, or redeemed any of its listed securities during the Review Period[167]. Trading Status - The Company has been suspended from trading since November 24, 2017, under the direction of the Securities and Futures Commission of Hong Kong and will remain suspended until further notice[187]. - The Company continues to communicate with the SFC to address concerns and aims for a resumption of trading as soon as possible, with the resumption application still pending[190].
FIRST CREDIT(08215) - 2021 - 中期财报