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首都金融控股(08239) - 2019 Q3 - 季度财报
CAPITAL FINCAPITAL FIN(HK:08239)2019-11-13 08:30

Financial Performance - For the three months ended September 30, 2019, the company reported revenue of HKD 12,164,000, a decrease of 58.6% compared to HKD 29,374,000 in the same period of 2018[3]. - The net loss for the three months ended September 30, 2019, was HKD 30,443,000, compared to a profit of HKD 1,909,000 in the same period of 2018[4]. - Total comprehensive loss for the nine months ended September 30, 2019, was HKD 70,724,000, compared to HKD 23,635,000 in the same period of 2018[4]. - The total income for the nine months ended September 30, 2019, was HKD 42,129,000, down from HKD 66,489,000 in the same period of 2018, representing a decline of 36.6%[3]. - The company reported a basic and diluted loss per share of HKD 2.36 for the three months ended September 30, 2019, compared to earnings of HKD 0.15 per share in the same period of 2018[3]. - The company reported a loss attributable to owners of approximately HKD 56,424,000, a significant decline from a profit of HKD 2,790,000 in 2018, primarily due to reduced revenue from the slowdown in China's economic growth and increased expected credit loss provisions[38]. Expenses and Liabilities - The expected credit loss provision for the three months ended September 30, 2019, was HKD 25,931,000, significantly higher than HKD 4,423,000 in the same period of 2018[3]. - The company incurred administrative and other expenses of HKD 9,147,000 for the three months ended September 30, 2019, an increase from HKD 8,248,000 in the same period of 2018[3]. - Administrative and other expenses increased by approximately HKD 3,166,000 to about HKD 27,368,000, compared to HKD 24,202,000 in 2018[38]. - The company’s total liabilities increased, leading to a significant impact on equity, with a total comprehensive loss attributable to owners of HKD 73,918,000 for the nine months ended September 30, 2019[4]. Income Sources - For the three months ended September 30, 2019, customer loan interest income was HKD 12,160,000, a decrease of 31.3% from HKD 17,753,000 in the same period of 2018[26]. - Financial advisory income for the same period was HKD 4,000, a significant drop from HKD 11,621,000 in 2018, representing a decline of 99.7%[26]. - Total net income from short-term financing services for the three months ended September 30, 2019, was HKD 12,164,000, down 58.6% from HKD 29,374,000 in 2018[26]. - The group generated all its revenue from China for the nine months ended September 30, 2019, and September 30, 2018[24]. Accounting Policies and Adjustments - The adoption of HKFRS 16 "Leases" on January 1, 2019, resulted in a cumulative adjustment of HKD 200,000 recorded as an adjustment to accumulated losses, including depreciation of right-of-use assets of HKD 5,395,000 and interest expense on lease liabilities of HKD 515,000[7]. - The cumulative impact of adopting HKFRS 9 "Financial Instruments" on January 1, 2018, was recorded as an adjustment to accumulated losses amounting to HKD 56,519,000, primarily related to expected credit loss provisions[8]. - The financial statements for the third quarter were prepared based on historical cost, with all values rounded to the nearest thousand Hong Kong dollars[10]. - The company’s accounting policies for the third quarter are consistent with those adopted in the annual report, except for the first-time adoption of HKAS 40 "Investment Property" and HKFRS 16 "Leases"[12]. Shareholder Information - As of September 30, 2019, Exuberant Global Limited held 1,384,571,429 shares, representing 106.41% of the issued share capital[46]. - Time Prestige Holdings Limited owned 161,142,857 shares, accounting for 12.38% of the issued share capital[46]. Corporate Governance - The company has adopted a code of conduct for directors' securities trading that is no less stringent than the GEM Listing Rules[48]. - The unaudited condensed consolidated financial statements were reviewed by the audit committee, ensuring compliance with applicable accounting standards and GEM listing rules[51]. - The report will be published on the GEM website and the company's website for at least seven consecutive days from the publication date[52]. Future Outlook - The board believes that strengthening credit risk monitoring will help improve the company's financial performance[38]. - The board anticipates that small and medium-sized enterprises (SMEs) will continue to develop steadily, aligning with the overall growth of China's economy[41]. - The company aims to benefit from strong demand for short-term financing services from SMEs and will continue to seek opportunities to diversify revenue sources[41].