Financial Performance - Total revenue for the six months ended August 31, 2024, was HKD 93,704,000, a significant increase from HKD 12,005,000 in the same period last year, representing a growth of 680.3%[1] - The company reported a loss of HKD 22,889,000 for the period, compared to a profit of HKD 9,347,000 in the previous year, indicating a decline in profitability[2] - Basic and diluted loss per share was HKD 5.72, compared to earnings of HKD 2.34 per share in the same period last year[2] - The company reported a total revenue of HKD 93,704 thousand for the six months ended August 31, 2024, compared to HKD 12,005 thousand for the same period in 2023, indicating a significant increase[15] - The group recorded a total loss and comprehensive expenses of approximately HKD 22.9 million, compared to a total income of about HKD 9.3 million in the same period last year, primarily due to an unrealized net loss of approximately HKD 15.4 million from financial assets[62] Revenue Breakdown - Revenue from corporate finance advisory services increased to HKD 4,347,000 from HKD 1,868,000, marking a growth of 132.5%[2] - Revenue from placement and underwriting services surged to HKD 85,701,000 from HKD 2,719,000, reflecting an increase of 3,058.4%[2] - The income from corporate finance advisory services was HKD 4,347 thousand, up from HKD 1,868 thousand year-over-year, reflecting a growth of approximately 132.5%[15] - The underwriting and placement business saw a revenue increase of approximately 3,051.9%, while the lending business generated a revenue increase of about 52.9% compared to the previous year[62] - The financial and independent financial advisory services generated revenue of approximately HKD 3.0 million, an increase from about HKD 0.6 million last year, with 18 financial advisory projects completed[68] Asset and Liability Overview - Total assets as of August 31, 2024, amounted to HKD 296,449,000, up from HKD 283,600,000 as of February 29, 2024[3] - Current assets totaled HKD 288,106,000, compared to HKD 282,091,000 in the previous reporting period[3] - Non-current assets increased to HKD 8,343,000 from HKD 1,509,000, indicating a growth of 438.5%[3] - The company's net asset value decreased to HKD 187,600,000 from HKD 210,489,000, showing a decline of 10.8%[4] - As of August 31, 2024, the cash and bank balances were approximately HKD 35,154,000, a decrease from HKD 75,121,000 as of February 29, 2024[44] Operational Highlights - The company continues to focus on providing financial and securities services, including corporate finance advisory, placement, underwriting, and asset management services[5] - The company’s advisory services for initial public offerings and compliance consulting generated significant revenue, contributing to overall growth in advisory income[11] - The group completed 18 placement and underwriting projects during the period, generating approximately HKD 85.7 million in revenue, a significant increase from HKD 2.7 million in the same period last year[70] - The group participated in 4 IPO sponsorship projects during the period, generating revenue of approximately HKD 0.3 million, down from HKD 0.7 million last year[67] Employee and Operational Costs - The company reported a decrease in employee costs to HKD 10,837 for the six months ending August 31, 2024, down from HKD 14,976 in the same period last year, representing a reduction of approximately 27%[23] - Other operating expenses increased by approximately 1,460.2% to about HKD 89.0 million, primarily due to expenses related to bond underwriting participation, which were not present in the same period last year[81] Market and Economic Conditions - The geopolitical tensions and inflationary pressures continue to create a challenging business environment, impacting the overall economic recovery in Hong Kong and China[63][64] - The company anticipates a challenging operating environment for the remainder of the fiscal year due to geopolitical uncertainties, inflation pressures, and global economic recession risks[100] - The Hong Kong financial market's performance is closely tied to the recovery of the Chinese economy, with the company focusing on expanding its product range and customer base[102] Future Plans and Strategies - The company plans to raise up to approximately HKD 12.0 million through a rights issue at a subscription price of HKD 0.60 per share, offering a maximum of 20,000,000 shares[104] - The company is committed to exploring business opportunities and diversifying into new business areas, leveraging its overseas resources[102] - The company will continue to enhance risk management and credit control capabilities to mitigate potential market and operational risks[101] Governance and Compliance - The company has established an audit committee to oversee financial reporting and compliance with corporate governance codes[107] - The controlling shareholders have confirmed compliance with the non-competition agreement since the listing date on September 14, 2018[110] - No directors or major executives hold any competing business interests as of the announcement date[110] Shareholder Information - As of August 31, 2024, the company has a total of 400,000,000 shares issued, with the controlling shareholder holding 300,000,000 shares, representing 75% ownership[114] - The board has decided not to declare any interim dividends for the current period, consistent with the previous year[118] - The company maintains the required public float percentage as per listing rules[118]
创升控股(02680) - 2025 - 中期业绩