Financial Performance - The company recorded an unaudited revenue of approximately HKD 22,500,000 for the six months ended September 30, 2024, representing an increase of about 16.4% compared to the same period last year[3]. - The profit attributable to the owners of the company for the same period was approximately HKD 24,800,000, primarily due to the reversal of impairment losses on trade receivables and loans under the expected credit loss model[3]. - Basic and diluted earnings per share for the six months ended September 30, 2024, were approximately HKD 1.13, compared to a basic loss per share of HKD 0.48 for the same period last year[3]. - The company reported a pre-tax profit of approximately HKD 27,466,616 for the six months ended September 30, 2024, compared to a pre-tax loss of HKD 9,626,544 for the same period last year[4]. - The company’s total comprehensive income for the period was approximately HKD 24,732,781, compared to a total comprehensive loss of HKD 11,629,714 for the same period last year[4]. - The company reported a net loss of HKD 10,666,937 for the six months ended September 30, 2024, compared to a net profit of HKD 24,786,049 for the same period in 2023[7]. - The total revenue from ongoing operations for the six months ended September 30, 2024, was HKD 22,541,160, an increase from HKD 19,372,695 in 2023, reflecting a growth of about 11%[13]. Assets and Liabilities - Total assets as of September 30, 2024, were approximately HKD 214,863,102, compared to HKD 200,588,652 as of March 31, 2024[5]. - Current liabilities amounted to approximately HKD 43,956,621 as of September 30, 2024, down from HKD 66,629,893 as of March 31, 2024[6]. - The net asset value of the company as of September 30, 2024, was approximately HKD 206,411,618, compared to HKD 181,678,837 as of March 31, 2024[6]. - The company reported a total asset value of HKD 251,432,371 as of September 30, 2024, with total liabilities amounting to HKD 45,020,753[20]. - As of September 30, 2024, the group's net current assets were approximately HKD 170.9 million, an increase from approximately HKD 134.0 million as of March 31, 2024[63]. - The current ratio as of September 30, 2024, was approximately 4.9 times, up from approximately 3.0 times as of March 31, 2024[63]. - The debt-to-equity ratio as of September 30, 2024, was approximately 2.2%, a significant decrease from approximately 15.6% as of March 31, 2024[63]. Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 15,489,209, compared to HKD 18,738,101 for the same period in 2023, representing a decrease of approximately 12%[8]. - The financing activities resulted in a net cash outflow of HKD 25,006,998 for the six months ended September 30, 2024, compared to HKD 15,739,093 in the previous year, indicating a significant increase in cash used for financing[8]. - The total cash and cash equivalents at the end of the period were HKD 1,022,509, a significant decrease from HKD 16,726,756 at the end of September 2023[8]. Revenue Sources - The company recorded a decrease in commission and brokerage fees from securities trading on the Stock Exchange, amounting to HKD 1,868,703, down from HKD 2,129,636 in the prior year, a decline of approximately 12%[13]. - Interest income from cash and margin clients was HKD 8,293,745 for the six months ended September 30, 2024, compared to HKD 6,329,984 in 2023, marking an increase of about 31%[13]. - The company reported interest income from loan financing of approximately HKD 8,300,000 for the six months ending September 30, 2024, unchanged from the same period in 2023[55]. - The company’s total income from other sources was HKD 18,437,998, contributing significantly to overall revenue[18]. Dividends - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2024, consistent with the previous year[3]. - The company did not recommend any interim dividend for the six months ending September 30, 2024, consistent with the previous year[26]. Impairment and Credit Loss - The expected credit loss on trade receivables was HKD 4,563,578 for the six months ended September 30, 2024, indicating a significant impairment compared to the previous year[15]. - The impairment loss for trade receivables was HKD 4,563,577 for the six months ended September 30, 2024, compared to HKD 3,852,949 as of March 31, 2024[36]. - The impairment provision for receivables decreased to HKD 67,178,241 as of September 30, 2024, from HKD 79,842,250 as of March 31, 2024[38]. - The company maintained a robust credit quality with no significant changes in the credit risk profile of its clients[36]. Corporate Governance - The company has adopted a code of conduct for directors' securities transactions, ensuring compliance with the GEM Listing Rules[89]. - The company has adhered to all corporate governance code provisions during the six months ending September 30, 2024, with some deviations noted regarding the separation of roles between the chairman and CEO[90]. - The audit committee consists of three independent non-executive directors, ensuring oversight of the group's financial reporting and internal controls[96]. - The board is responsible for the overall internal control framework and acknowledges the necessity of risk management and internal control systems to protect shareholders' interests[95]. Future Plans - The group plans to expand its brokerage and underwriting businesses by broadening its customer base and enhancing its trading platform[69]. - The group aims to become a leading financial services group in Hong Kong and will continue to explore potential opportunities to enhance profitability[69].
昌利控股(08098) - 2025 - 中期业绩