Financial Performance - The company recorded a pre-tax profit of approximately HKD 6.6 million for the six months ended September 30, 2020, compared to a pre-tax loss of approximately HKD 1.6 million in the same period last year[4]. - The group recorded a pre-tax profit of approximately HKD 6.6 million, a turnaround from a pre-tax loss of about HKD 1.6 million in the previous year[30]. - The company reported a net profit of HKD 6,470,000 for the six months ended September 30, 2020, compared to a loss of HKD 1,592,000 in the same period of 2019[58]. - The total comprehensive income for the six months ended September 30, 2020, was HKD 6,630,000, compared to HKD 1,035,000 in the same period of 2019[58]. - The company reported a pre-tax profit of HKD 6,574,000 for the six months ended September 30, 2020, compared to a loss of HKD 1,642,000 in the same period of 2019, indicating a significant turnaround in performance[69]. - Revenue for the six months ended September 30, 2020, was HKD 36,096,000, an increase of 4% compared to HKD 34,668,000 for the same period in 2019[55]. - Revenue from financial advisory services rose to approximately HKD 28.0 million, accounting for about 77.6% of total revenue, compared to 63.1% in the previous year[18]. - The group's total revenue increased by approximately 4.0% from about HKD 34.7 million to approximately HKD 36.1 million for the six months ended September 30, 2020[18]. Segment Performance - The corporate finance consulting segment generated revenue of approximately HKD 35.8 million, an increase from HKD 34.6 million in 2019, with a pre-tax profit of approximately HKD 3.0 million compared to HKD 1.3 million in the previous year[13]. - The asset management segment reported revenue of approximately HKD 0.2 million, up from HKD 0.1 million in 2019, but incurred a pre-tax loss of approximately HKD 0.8 million, reflecting the early development stage of this business[14]. - The corporate finance division recorded a profit of approximately HKD 3.0 million, attributed to increased advisory service revenues and reduced operating expenses[16]. - Total segment revenue for corporate finance consulting services was HKD 35,848,000, an increase from HKD 34,562,000 in the prior year, indicating growth in this service area[85]. Assets and Liabilities - As of September 30, 2020, the company's net asset value was approximately HKD 104 million, with cash and cash equivalents of about HKD 63 million[5]. - Total assets as of September 30, 2020, were HKD 100,950,000, an increase from HKD 94,410,000 as of March 31, 2020[62]. - Current liabilities increased to HKD 13,280,000 as of September 30, 2020, from HKD 12,395,000 as of March 31, 2020[62]. - Total liabilities as of September 30, 2020, were HKD 15,554,000, down from HKD 19,821,000 as of March 31, 2020[87]. - The group had no bank financing or borrowings as of March 31, 2020, and September 30, 2020, indicating a strong financial position[31]. Cash Flow and Management - Operating cash flow before changes in working capital was HKD 5,303,000, up from HKD 3,575,000 year-on-year, reflecting improved operational efficiency[69]. - The company reported a net cash decrease of HKD (4,295,000) for the period, significantly improved from HKD (19,175,000) in the previous year, indicating better liquidity management[71]. - The net cash used in financing activities was HKD (6,935,000), a decrease from HKD (11,248,000) in the prior year, suggesting improved cash management[71]. - The company received government grants amounting to HKD 1,358,000 during the period, which was not recorded in the previous year, contributing positively to cash flow[71]. Employee and Operational Costs - Employee benefit costs were approximately HKD 24.6 million, slightly down from HKD 24.7 million in the previous period, mainly due to the absence of share-based payments[22]. - Depreciation and other operating expenses decreased by approximately 10.9% from about HKD 11.9 million to approximately HKD 10.6 million[28]. - The group employed 51 employees as of September 30, 2020, with employee benefit costs amounting to approximately HKD 24.6 million, slightly down from HKD 24.7 million in 2019[44]. Investments and Fair Value Gains - The company achieved an unrealized fair value gain of approximately HKD 5.6 million from investments during the period[4]. - The group achieved an unrealized fair value gain of approximately HKD 5.6 million on investments in CIAF during the period[16]. - The investment in CIAF is viewed as a long-term development fund, expected to yield substantial returns in the long run despite initial unfavorable market conditions[37]. - The company acquired 28,000 units of CIAF shares, representing a 26.6% equity interest, with a fair value of approximately HKD 23.3 million as of September 30, 2020, up from HKD 17.7 million as of March 31, 2020[37]. Corporate Governance and Shareholder Information - The company has adhered to the corporate governance code as per GEM Listing Rules Appendix 15, with the exception of the separation of the roles of Chairman and CEO, which remains unfilled[156]. - Major shareholders, excluding directors or executives, have disclosed interests in the company's shares as required by the Securities and Futures Ordinance[175]. - The company believes that its current board structure allows for swift decision-making and effective response to changing environments[156]. - The board will periodically review the current board structure to ensure its effectiveness[156]. - The company has a strong corporate governance structure to ensure effective oversight of management[156]. Share Capital and Options - The company’s issued and fully paid share capital increased to 141,829 thousand shares with a total value of 1,418 thousand HKD as of September 30, 2020, compared to 141,319 thousand shares valued at 1,413 thousand HKD as of March 31, 2020[133]. - The company has a total of 5,706,602 share options available for exercise as of September 30, 2020, after exercising 510,318 options during the period[145]. - The company has not granted any share options under the share option plan since its adoption[188]. - The average closing price per share before the exercise date of the share options was approximately HKD 1.00[186].
新百利融资(08439) - 2021 - 中期财报