Financial Performance - For the six months ended September 30, 2024, the company recorded an unaudited revenue of approximately HKD 22,500,000, representing an increase of about 16.4% compared to the same period last year[3]. - The unaudited 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 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[4]. - The company reported a net loss from expected credit loss model on trade receivables of HKD 4,563,578 for the six months ended September 30, 2024, compared to no losses in the same period of 2023[16]. - The profit attributable to owners for the six months ended September 30, 2024, is HKD 24,786,049, compared to a loss of HKD 10,666,937 for the same period in 2023[30]. - The total revenue for the six months ended September 30, 2024, was approximately HKD 22,500,000, an increase of about 16.4% compared to approximately HKD 19,400,000 for the same period in 2023[55]. Dividends and Share Capital - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2024, consistent with the previous year[4]. - The group did not recommend an interim dividend for the six months ended September 30, 2024[28]. - The total issued and paid-up share capital remained at 2,200,000,000 shares with a par value of HKD 0.01 per share as of September 30, 2024[45]. Assets and Liabilities - As of September 30, 2024, total assets amounted to HKD 214,863,102, an increase from HKD 200,588,652 as of March 31, 2024[5]. - Current liabilities as of September 30, 2024, were HKD 43,956,621, a decrease from HKD 66,629,893 as of March 31, 2024[6]. - The net asset value of the company as of September 30, 2024, was HKD 206,411,618, compared to HKD 181,678,837 as of March 31, 2024[6]. - The group reported a total asset value of HKD 251,432,371 as of September 30, 2024, with total liabilities of HKD 45,020,753[22]. - The company's net current assets as of September 30, 2024, were approximately HKD 170,900,000, an increase from approximately HKD 134,000,000 as of March 31, 2024[66]. - The current ratio as of September 30, 2024, was approximately 4.9 times, up from approximately 3.0 times as of March 31, 2024[66]. - The company's debt-to-equity ratio as of September 30, 2024, was approximately 2.2%, significantly reduced from approximately 15.6% as of March 31, 2024[66]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 15,489,209, a decrease of 17.5% compared to HKD 18,738,101 in the same period of 2023[8]. - The company reported a financing cost of HKD 647,169 for the six months ended September 30, 2024, compared to HKD 712,912 for the same period last year[4]. - The company’s 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 same period of 2023[8]. - The company’s cash and cash equivalents decreased by HKD 2,349,420, ending at HKD 1,022,509 as of September 30, 2024, compared to HKD 16,726,756 at the end of the previous year[8]. Customer and Trade Receivables - Trade receivables as of September 30, 2024, were HKD 117,595,443, an increase from HKD 109,271,568 as of March 31, 2024[5]. - Major customers accounted for approximately 12% of total revenue for the six months ended September 30, 2024, compared to 11% for the same period in 2023[26]. - Trade receivables from cash clients increased to HKD 8,783,102 as of September 30, 2024, from HKD 5,618,079 as of March 31, 2024[34]. - The impairment loss for trade receivables as of September 30, 2024, was HKD 15,018,216, compared to HKD 15,984,639 as of March 31, 2024[37]. - The expected credit loss provision for the period was HKD 4,563,577, up from HKD 3,852,949 as of March 31, 2024[38]. Operational Performance - The company generated interest income from cash and margin clients amounting to HKD 9,561,771, an increase of 51.5% from HKD 6,329,984 in the previous year[13]. - The company’s total other income, gains, and losses for the six months ended September 30, 2024, was HKD 343,274, an increase from HKD 269,934 in the previous year[15]. - The company’s dividend income increased to HKD 159,052 for the six months ended September 30, 2024, up from HKD 137,223 in the same period of 2023[15]. - The total trading volume for securities transactions decreased by approximately 19.7%, from about HKD 37,220,900,000 for the six months ended September 30, 2023, to about HKD 29,907,600,000 for the same period in 2024[56]. Corporate Governance - The company has adopted a code of conduct for directors regarding securities trading, which complies with GEM listing rules[94]. - The company has complied with all corporate governance code provisions as per GEM Listing Rules Appendix 15 for the six months ending September 30, 2024, with the exception of not having a designated chairman[95]. - Following the resignation of independent non-executive directors Mr. Wang and Mr. Song on August 6, 2024, the company did not meet the requirement of having at least three independent non-executive directors on the board[96]. - On August 9, 2024, Ms. Liu was appointed as an independent non-executive director and chair of the nomination committee, restoring compliance with GEM Listing Rules regarding the composition of the nomination committee[97]. - Mr. Lin was appointed as an independent non-executive director and chair of the remuneration committee on November 5, 2024, ensuring compliance with GEM Listing Rules for the remuneration committee[98]. Future Plans - The company aims to expand its brokerage and underwriting business by broadening its customer base and enhancing its trading platform[74]. - The company plans to explore potential investment opportunities to enhance profitability[74].
昌利控股(08098) - 2025 - 中期财报