Financial Performance - Revenue for the three months ended March 31, 2021, was approximately HKD 32.67 million, an increase of about 89.1% compared to HKD 17.28 million for the same period in 2020[11]. - Profit for the same period was approximately HKD 9.68 million, representing an increase of about 196.6% from HKD 3.26 million in the prior year[12]. - Total comprehensive income for the period was HKD 13.63 million, compared to HKD 2.58 million in the prior year[19]. - The net profit for the three months ended March 31, 2021, was HKD 9,676,659, compared to HKD 3,262,766 for the same period in 2020, indicating a significant increase of approximately 196%[21]. - Basic earnings per share rose to HKD 50.69 cents, compared to HKD 16.31 cents in the previous year, marking a 211% increase[61]. Revenue Sources - The increase in revenue was attributed to growth in securities and futures brokerage, fee-based services, financing services, asset management services, and employee stock option plan services[11]. - Brokerage services generated revenue of approximately HKD 19.28 million, up 105.5% from HKD 9.38 million in the same period last year, driven by increased trading volume in the Hong Kong stock market[79]. - Financing services recorded interest income of approximately HKD 8.90 million, a significant increase of 133.7% from HKD 3.81 million in the previous year, reflecting a rise in client demand for margin financing[85]. - Asset management services saw revenue rise to approximately HKD 1.12 million, marking a 150.4% increase from HKD 0.45 million in the same period last year, attributed to new client acquisitions[86]. - Commission and brokerage income reached HKD 19,275,106, up 105.5% from HKD 9,379,678 in the previous year[40]. Expenses - Employee costs for the three months ended March 31, 2021, were approximately HKD 7.18 million, up 47.5% from HKD 4.87 million in the same period of 2020[11]. - Other operating expenses increased to approximately HKD 3.94 million, a rise of 31.8% compared to HKD 2.99 million in the previous year[11]. - Financing costs increased to approximately HKD 2.10 million for the three months ended March 31, 2021, compared to HKD 0.89 million in the same period of 2020[99]. - The total tax expense for the period was HKD 1,233,250, a substantial rise from HKD 430,411 in the same period last year, indicating a 186% increase[56]. Dividends and Shareholder Information - The company did not recommend the payment of a dividend for the three months ended March 31, 2021[15]. - The major shareholder, DTTKF, holds 55.09% of the company's issued share capital, with 110,193,750 shares[111]. - No dividends were recommended for the three months ended March 31, 2021, consistent with the previous year[62]. Subsidiaries and Expansion - The company holds a 100% interest in its subsidiary, Victory Securities Limited, which is engaged in securities and futures brokerage services[26]. - The company has established a new subsidiary, Victory Asset Management Japan Limited, registered on January 21, 2021, to expand its asset management services in Japan[26]. - The company’s financial advisory services are provided through its subsidiary, Victory Capital Limited, which has a registered capital of HKD 2,500,000[26]. Market Conditions and Future Outlook - The overall economic outlook for Hong Kong in 2021 may continue to be affected by global and local factors, including the ongoing impact of COVID-19, which could lead to short-term market volatility[71]. - The group will continue to review and assess its business objectives and strategies in light of market uncertainties and risks associated with the ongoing pandemic[70]. - The company plans to launch a major promotional campaign in 2021 to expand its customer base as it prepares to celebrate its 50th anniversary[68]. Corporate Governance - The board confirmed compliance with the trading standards set forth in GEM Listing Rules during the three months ended March 31, 2021[118]. - The company maintained high standards of corporate governance and fully complied with the corporate governance code during the three months ended March 31, 2021[120]. - The audit committee reviewed the unaudited consolidated financial statements for the three months ended March 31, 2021, ensuring compliance with applicable accounting standards[122].
胜利证券(08540) - 2021 Q1 - 季度财报