Financial Performance - The group recorded a net loss of approximately HKD 2.6 million for the three months ended June 30, 2019, compared to a net profit of approximately HKD 0.3 million in the same period last year [8]. - Total revenue for the period was approximately HKD 15.4 million, a decrease of about 7.8% from approximately HKD 16.7 million in the same period last year [12]. - Revenue from financial advisory and independent financial advisory services was approximately HKD 10.3 million, accounting for about 66.9% of total revenue, down from 82.0% in the previous year [12]. - Revenue from compliance advisory services increased significantly to approximately HKD 4.2 million, representing about 27.3% of total revenue, compared to 11.4% in the previous year [12]. - Revenue from sponsorship and underwriting services was approximately HKD 0.4 million, accounting for about 2.6% of total revenue, down from 6.0% in the previous year [12]. - The group recorded a pre-tax loss of approximately HKD 2.6 million for the current period, compared to a pre-tax profit of approximately HKD 0.5 million in 2018 [24]. - The group experienced a decrease in total comprehensive income, recording a total comprehensive loss of HKD 2.64 million compared to a gain of HKD 288,000 in the previous year [28]. - The basic and diluted loss per share for the current period was HKD 1.76, compared to earnings of HKD 0.21 per share in the previous year [30]. - Income from financial advisory fees was HKD 3,115 thousand, down 50% from HKD 6,237 thousand in the previous year [44]. - Revenue decreased from HKD 16.73 million in the three months ended June 30, 2018, to HKD 15.45 million in the current period, representing a decline of about 7.7% [28]. Operating Expenses - Operating expenses increased to approximately HKD 18.6 million, a rise of about 19.2% compared to the same period last year, primarily due to the inclusion of EISAL in the consolidated accounts [8]. - Employee benefits costs increased by approximately 8.8% from about HKD 11.3 million in the three months ended June 30, 2018, to about HKD 12.3 million in the current period [18]. - Depreciation expenses and other operating expenses rose by approximately 43.9% from about HKD 4.1 million in the three months ended June 30, 2018, to about HKD 5.9 million in the current period [22]. - Other operating expenses decreased from HKD 3.91 million in the three months ended June 30, 2018, to HKD 3.35 million in the current period [28]. Corporate Governance - The company has adhered to the corporate governance code as per GEM Listing Rules Appendix 15, with the exception of the separation of roles between the Chairman and CEO, which remains unfilled [56]. - The company has a strong corporate governance structure to effectively supervise management and respond to changing environments [56]. - The company will continue to review its board structure to ensure effective decision-making [56]. - The audit committee reviewed the unaudited consolidated results for the three months ended June 30, 2019, ensuring compliance with applicable accounting standards [79]. - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management [79]. Shareholder Information - As of June 30, 2019, Sabine Martin Nevil holds 93,833,350 shares, representing 66.55% of the total shares, and an additional 2,233,440 shares, representing 1.58% [64]. - Major shareholder New Bailey Group Limited holds 93,833,350 shares, representing 66.55% of the total issued shares [73]. - Dr. Sabine Maureen Alice, spouse of Mr. Sabine, holds 96,066,790 shares, equating to 68.14% of the total issued shares [73]. - The company has a total of 96,066,790 shares held by Mr. Fletcher and his spouse, representing 68.14% of the total issued shares [73]. - The company has a total of 645,717 shares held by various spouses, each representing 0.46% of the total issued shares [73]. Market Outlook - The group anticipates continued challenges in the corporate finance market until at least September 30, 2019, reflecting a slowdown in M&A activities [9]. - The acquisition of EISAL is expected to broaden the group's business scope and enhance its capabilities in participating in IPOs and developing the equity market [6]. - The group remains a market leader in compliance advisory services, particularly for new biotech companies listed in Hong Kong [12]. Dividend and Investments - The group did not recommend the payment of an interim dividend for the current period, consistent with the previous year [26]. - The company did not hold any significant investments during the current period, consistent with the previous year [25]. - The company did not purchase, sell, or redeem any of its listed securities during the reporting period [62]. - There were no significant post-reporting events related to the company or its group after June 30, 2019 [83]. Compliance and Regulations - The company has complied with GEM listing rules regarding the appointment of compliance advisors during the reporting period [78]. - The company has not engaged any external compliance advisors after June 28, 2019 [78]. - There were no known competitive interests from directors or major shareholders during the reporting period [59]. - The board of directors confirmed compliance with the trading code during the reporting period [58].
新百利融资(08439) - 2020 Q1 - 季度财报