Financial Performance - Total revenue for the six months ended September 30, 2019, was HKD 19,266,000, a decrease of 39.2% compared to HKD 31,708,000 in the same period of 2018[5]. - The company reported a loss attributable to owners of HKD 390,000 for the six months ended September 30, 2019, compared to a profit of HKD 11,568,000 in the same period of 2018[5]. - The basic earnings per share for the six months ended September 30, 2019, was a loss of HKD 0.02, compared to earnings of HKD 0.58 in 2018[5]. - The pre-tax profit for the six months ended September 30, 2019, was a loss of HKD 390,000, compared to a profit of HKD 11,568,000 in the same period of 2018[46]. - No interim dividend was recommended for the six months ended September 30, 2019, consistent with the previous year[48]. Revenue Breakdown - Commission income from securities trading and brokerage services for the three months ended September 30, 2019, was HKD 1,554,000, down 15% from HKD 1,829,000 in 2018[5]. - Revenue from underwriting and placement services for the same period was HKD 9,865,000, an increase of 3.2% from HKD 9,560,000 in 2018[37]. - Asset management services generated revenue of HKD 322,000, down 34.4% from HKD 491,000 in the previous year[36]. - Total customer contract revenue for the six months ended September 30, 2019, was HKD 15,997,000, a decrease of 43.6% from HKD 28,415,000 in 2018[36]. - Interest income from margin financing services for the six months ended September 30, 2019, was HKD 3,269,000, slightly down from HKD 3,293,000 in 2018[36]. Expenses and Costs - The company incurred financing costs of HKD 134,000 for the six months ended September 30, 2019, compared to no financing costs in the same period of 2018[5]. - The company reported a significant increase in commission expenses to HKD 6,721,000 for the six months ended September 30, 2019, compared to HKD 4,245,000 in 2018[5]. - Employee costs for the three months ended September 30, 2019, amounted to HKD 3,532,000, an increase of 43.8% compared to HKD 2,457,000 in the same period of 2018[41]. - The total employee cost for the six months ended September 30, 2019, was approximately HKD 6.0 million, compared to HKD 4.9 million in the second quarter of 2018[90]. Assets and Liabilities - Non-current assets increased to HKD 14,414,000 as of September 30, 2019, from HKD 6,274,000 as of March 31, 2019[6]. - Current assets decreased to HKD 343,558,000 as of September 30, 2019, from HKD 375,542,000 as of March 31, 2019[6]. - The company's net asset value remained stable at HKD 280,025,000 as of September 30, 2019, compared to HKD 280,415,000 as of March 31, 2019[6]. - As of September 30, 2019, accounts receivable from margin clients amounted to HKD 92,327,000, an increase from HKD 77,869,000 as of March 31, 2019[54]. - The total accounts receivable as of September 30, 2019, was HKD 110,521,000, an increase from HKD 103,016,000 as of March 31, 2019[54]. Corporate Governance - The company has established an audit committee in compliance with GEM Listing Rules, consisting of three independent non-executive directors[111]. - The board is committed to high standards of corporate governance and has adhered to all applicable code provisions during the reporting period[110]. - The audit committee reviewed the group's unaudited condensed consolidated results and confirmed compliance with applicable accounting standards and regulations[111]. Market Conditions - Management believes that the uncertainties from the US-China trade war and Brexit will continue to impact business performance across various sectors[77]. - The average daily trading value in the market decreased by about 13.6% compared to the same period in 2018[76].
PF GROUP(08221) - 2020 - 中期财报