Financial Performance - For the nine months ended September 30, 2020, revenue was approximately HKD 50.65 million, an increase of about 14.5% compared to HKD 44.23 million for the same period in 2019[11]. - The profit for the nine months ended September 30, 2020, was approximately HKD 15.86 million, a significant increase of about 129.9% from HKD 6.90 million in the same period of 2019[12]. - The fair value gains on financial assets recorded for the nine months ended September 30, 2020, were approximately HKD 5.03 million, compared to a loss of about HKD 0.63 million in the same period of 2019[12]. - Total comprehensive income for the three months ended September 30, 2020, was HKD 21.13 million, compared to HKD 10.68 million for the same period in 2019[17]. - The company recorded a net loss of HKD 983,137 for the three months ended September 30, 2019, while achieving a profit of HKD 5.72 million for the same period in 2020[16]. - The total comprehensive income for the period was HKD 4,020,680, compared to a loss of HKD 1,903,129 in the previous period[21]. - The company reported a total comprehensive loss of HKD 3,647,739 for the nine months ended September 30, 2020, compared to a total comprehensive income of HKD 6,759,119 in the same period last year[21]. - The company's pre-tax profit for the nine months ended September 30, 2020, was HKD 15,858,406, significantly higher than HKD 6,898,718 for the same period in 2019[63]. Revenue Breakdown - For the three months ended September 30, 2020, customer contract revenue was HKD 13,166,420, compared to HKD 8,328,377 for the same period in 2019, representing a growth of 58.5%[45]. - For the nine months ended September 30, 2020, customer contract revenue reached HKD 37,462,717, an increase from HKD 33,493,357 in the same period of 2019, reflecting a growth of 8.8%[46]. - Interest income from customers for the nine months ended September 30, 2020, was HKD 13,111,064, up from HKD 10,407,900 in the same period of 2019, indicating a growth of 26.0%[45]. - Commission and brokerage income for the three months ended September 30, 2020, was HKD 8,450,425, an increase of 21% compared to HKD 6,992,205 for the same period in 2019[47]. - Total revenue from underwriting and placement commissions was HKD 1,291,159 for the three months ended September 30, 2020, compared to HKD 8,680 in the same period last year[47]. - The securities and futures brokerage services generated revenue of HKD 33,601,000, up 6.8% from HKD 31,463,000 in the previous year[76]. - Financing services revenue rose by 26.0% to HKD 13,111,000 from HKD 10,408,000 year-on-year[76]. - Asset management services saw a significant increase of 138.1%, reaching HKD 1,150,000 compared to HKD 483,000 in the prior year[76]. - The financial advisory services revenue surged by 1,695.0% to HKD 1,813,000 from HKD 101,000 in the previous year[76]. - Insurance consulting services revenue decreased by 44.9% to HKD 979,000 from HKD 1,776,000 year-on-year[76]. Expenses and Costs - Other operating expenses decreased to approximately HKD 9.66 million for the nine months ended September 30, 2020, down from HKD 11.68 million in the same period of 2019[12]. - Employee costs increased to approximately HKD 15.25 million for the nine months ended September 30, 2020, compared to HKD 13.01 million in the same period of 2019[13]. - Financing costs rose to approximately HKD 3.41 million for the nine months ended September 30, 2020, from HKD 2.33 million in the same period of 2019[13]. - Total operating expenses decreased by approximately 17.3% to HKD 9.66 million from HKD 11.68 million for the same period in 2019, mainly due to reductions in transaction and settlement costs[93]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance and fully complied with the corporate governance code[123]. - The board has confirmed compliance with the GEM Listing Rules regarding securities trading standards[120]. - The audit committee, established on June 14, 2018, consists of a majority of independent non-executive directors and has reviewed the unaudited consolidated financial statements for the nine months ended September 30, 2020[126]. - The audit committee confirmed that the financial statements were prepared in accordance with applicable accounting standards and GEM listing rules[126]. - The company terminated the compliance advisory agreement with Pulse Capital Limited due to significant disputes over fees, effective August 16, 2020[124]. - The company appointed Zhongzhou International Financial Holdings Limited as the new compliance advisor, effective August 16, 2020[124]. Strategic Plans and Market Position - The company plans to expand its market presence through new product offerings and strategic partnerships in the upcoming quarters[49]. - The company plans to launch a major marketing campaign in 2021 to expand its customer base as it celebrates its 50th anniversary[73]. - The company is applying for multiple new asset management licenses to expand its asset management division by the end of 2020[73]. - The company aims to continue exploring acquisition opportunities selectively within the asset management sector[73]. Impact of COVID-19 - The impact of COVID-19 on the company's financial performance will depend on the effectiveness of measures taken to control the virus and the duration of the pandemic[74]. - The group has not experienced any significant changes in lease terms due to COVID-19, and thus the related accounting standards revisions did not affect its financial performance[41]. Shareholder Information - DTTKF holds 110,193,750 shares, representing 55.09% of the company's issued share capital[104]. - Dr. TT Kou's family owns approximately 75.57% of DTTKF, with significant stakes held by other family members[104]. Financial Reporting - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and are presented in HKD[30]. - The financial statements for the nine months ended September 30, 2020, have not been audited but have been reviewed by the company's audit committee[36]. - The group’s financial statements are prepared consistently with the accounting policies applied in the previous financial year[38]. - The company has adopted revised Hong Kong Financial Reporting Standards, which clarified the definition of a business and did not impact the financial position or performance of the group[39].
胜利证券(08540) - 2020 Q3 - 季度财报