Financial Performance - For the six months ended September 30, 2024, the total revenue and other income amounted to HKD 27,361,000, a decrease of 12.5% compared to HKD 31,218,000 for the same period in 2023[4] - The profit attributable to the owners of the company for the period was HKD 931,000, down 54.1% from HKD 2,029,000 in the previous year[4] - Basic and diluted earnings per share were HKD 0.12, a decrease of 52% from HKD 0.25 in the same period last year[4] - Revenue for the six months ended September 30, 2024, was HKD 26,725,000, a decrease of 12.9% compared to HKD 30,721,000 for the same period in 2023[14] - The company reported a net profit before tax of approximately HKD 931,000 for the six months ended September 30, 2024, compared to HKD 2,029,000 for the same period in 2023[21] - The group recorded a profit of approximately HKD 1.0 million for the six months ended September 30, 2024, compared to HKD 2.0 million for the same period in 2023, reflecting a significant decline due to reduced revenue[48] Assets and Liabilities - The total assets as of September 30, 2024, were HKD 171,169,000, compared to HKD 171,573,000 as of March 31, 2024[5] - The company reported a decrease in trade receivables to HKD 10,063,000 from HKD 11,199,000 as of March 31, 2024[5] - Non-current assets decreased to HKD 1,829,000 from HKD 2,563,000 as of March 31, 2024[5] - The total lease liabilities as of September 30, 2024, amounted to approximately HKD 685,000, a decrease from HKD 1,488,000 as of March 31, 2024[24] - As of September 30, 2024, the current ratio was approximately 18.6 times, up from 14.3 times as of March 31, 2024, indicating strong financial stability[50] Cash Flow - Cash and cash equivalents increased to HKD 60,086,000 from HKD 57,639,000 at the beginning of the period[8] - The net cash generated from operating activities was HKD 2,661,000, a decrease of 55.1% compared to HKD 5,929,000 in the previous year[8] - Cash and bank balances as of September 30, 2024, were approximately HKD 60.1 million, an increase from HKD 57.6 million as of March 31, 2024, demonstrating sufficient resources for operational needs[50] Share Capital and Dividends - The company did not declare or propose any dividends for the six months ended September 30, 2024, consistent with the same period in 2023[20] - The total issued and paid-up share capital as of September 30, 2024, is HKD 8,000,000, with 800,000,000 shares issued[32] - The company has not issued any stock options under the share option plan since its adoption on July 30, 2018, and there are no outstanding options as of September 30, 2024[34] - The share award plan, adopted on April 4, 2019, aims to recognize and reward contributions to the group's growth, with a maximum of 15% of the issued share capital available for awards[35] - The company granted a total of 88,000,000 shares under the share incentive plan, with a total value of HKD 5,984,000[37] Employee Costs and Expenses - Employee costs decreased from approximately HKD 19.4 million to HKD 17.3 million, a reduction of about 10.8%, primarily due to a decline in bonuses corresponding to reduced revenue[44] - Other operating expenses decreased from approximately HKD 8.7 million for the six months ended September 30, 2023, to approximately HKD 8.2 million for the six months ended September 30, 2024, a decline of about 5.7%[46] - Settlement expenses for the six months ended September 30, 2024, were approximately HKD 2.6 million, down from approximately HKD 2.9 million in the same period of 2023, a decrease of 10.3%[46] Credit and Receivables - The aging analysis of trade receivables shows that HKD 4,423,000 (43.9%) is within 30 days, while HKD 2,429,000 (24.1%) is overdue by more than 120 days[29] - The expected credit loss provision for trade receivables decreased from HKD 14,000 as of March 31, 2024, to HKD 12,000 as of September 30, 2024, indicating a reduction of approximately 14.3%[31] - The average credit period extended to customers is 30 days, with credit limits determined based on the credit quality of potential clients[28] - The expected loss rates for trade receivables are 0.01% for current receivables and increase to 0.37% for receivables overdue by more than 90 days[30] - The company has a credit loss provision methodology that considers historical default records and current financial conditions of debtors[30] Corporate Governance - The board believes the company has complied with the corporate governance code during the six months ending September 30, 2024[70] - The company has maintained a high level of corporate governance, which is deemed essential for sustainable growth[70] - The audit committee, established on July 30, 2018, consists of three independent non-executive directors and is responsible for reviewing financial information and risk management systems[75] Business Operations - The company’s main business involves providing brokerage services for derivative instruments, with all revenue generated from commission income[41] - The company has established arrangements with several executing brokers to provide derivative services for listed derivatives on the Singapore Exchange[42] - The company has not made any significant changes to its business and future development since the publication of its annual report for the year ended March 31, 2024[42] - There were no major acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended September 30, 2024[56] Shareholder Information - As of September 30, 2024, major shareholders include Oasis Green Ventures Limited with 278,000,000 shares, representing 34.75% of the company's equity[64] - The total number of shares held by directors and senior management amounts to 68,000,000, which is approximately 8.50% of the company's equity[62] - The beneficial ownership of shares by major shareholders includes 96,000,000 shares held by Jolly Ocean Global Limited, representing 12.00% of the company's equity[64] - The total shares held by the spouse of a major shareholder amount to 16,000,000, representing 2.00% of the company's equity[64] Compliance and Regulations - The company has adopted the trading standards as per GEM Listing Rules 5.48 to 5.67, confirming compliance with no irregularities reported by all directors for the six months ending September 30, 2024[71] - The stock option plan, adopted on July 30, 2018, allows for the issuance of up to 80,000,000 shares, representing 10% of the total issued share capital as of the announcement date, with approximately 4 years remaining in its validity[72] - As of the announcement date, no further awards can be granted under the share award plan, which expired on April 3, 2024, while the stock option plan can still authorize up to 120,000,000 shares, representing 15% of the total issued shares[74]
衍汇亚洲(08210) - 2025 - 中期业绩