Financial Performance - Total revenue for the first quarter of 2021 was HKD 1,785,000, a decrease of 65.0% compared to HKD 5,109,000 in the same period of 2020[6] - Commission income from securities trading and brokerage services was HKD 810,000, down 56.6% from HKD 1,865,000 year-on-year[6] - Interest income from margin and loan financing services decreased by 57.3% to HKD 952,000 from HKD 2,220,000 in the previous year[6] - The company reported a pre-tax loss of HKD 4,994,000, an improvement of 22.9% compared to a loss of HKD 6,480,000 in the first quarter of 2020[6] - Basic loss per share for the first quarter was HKD 0.25, compared to HKD 0.32 in the same quarter of the previous year[6] - Other income and losses amounted to HKD 258,000, down from HKD 931,000 in the previous year[6] - The group reported a loss of approximately HKD 5.0 million for the period, a reduction of about HKD 1.5 million or 22.9% compared to a loss of HKD 6.5 million in the first quarter of 2020[36] Equity and Assets - Total equity attributable to owners decreased to HKD 173,131,000 from HKD 178,125,000 at the beginning of the quarter[7] - As of June 30, 2021, the group's net current assets were approximately HKD 157.7 million, down from HKD 169.3 million as of March 31, 2021[37] - The total equity attributable to owners of the company was approximately HKD 173.4 million as of June 30, 2021, down from HKD 178.1 million as of March 31, 2021[39] Employee Costs - Employee costs for the quarter were HKD 2,358,000, a significant decrease from HKD 8,048,000 in the first quarter of 2020[6] - The total employee cost for the period was approximately HKD 2.0 million, significantly lower than HKD 8.0 million in the first quarter of 2020[40] Business Operations - The company did not report any income from asset management services in the first quarter of 2021, compared to HKD 453,000 in the same period of 2020[6] - The company had no asset management clients, down from 7 clients in the first quarter of 2020, and the total net asset value managed was zero, compared to HKD 4.2 billion in the previous year[31] - The company did not complete any placement and underwriting mandates during the period, resulting in a 100% decrease in related commission income to zero from HKD 66,000 in the first quarter of 2020[29] - The company continues to focus on its core services, including securities trading, underwriting, and asset management, while exploring opportunities for market expansion[9] Market and Future Outlook - The management remains cautiously optimistic about the company's future business development and overall performance despite ongoing economic uncertainties[32] - The company plans to adopt a prudent and balanced risk management approach to review and adjust its business strategies in response to future challenges[32] - The company aims to enhance its visibility and operational scale in the Hong Kong capital market to capture a larger market share[32] Shareholder Information - As of June 30, 2021, the major shareholders include: 1,199,640,000 shares (59.98%) held by Smart Investment, and 300,000,000 shares (15.00%) held by Baier, with the same amount held by Ms. Zhou as spouse[50] - Smart Investment is beneficially owned by Mr. Huo (30%) and Ms. Xie (70%), who are spouses, thus they are deemed to hold the shares[51] - Baier is wholly owned by Dr. Li, who is deemed to hold the shares through Baier[52] Corporate Governance - The audit committee, consisting of three independent non-executive directors and one non-executive director, reviewed the unaudited consolidated results for the period[58] - No directors or major shareholders have any interests in businesses that directly or indirectly compete with the group during the period[55] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[41] - The group had no significant contingent liabilities as of June 30, 2021[44] - The company has not granted any share options since the adoption of the share option plan on December 5, 2016, until June 30, 2021[53] - There were no purchases, sales, or redemptions of the company's listed securities during the reporting period[54]
PF GROUP(08221) - 2022 Q1 - 季度财报