Revenue Performance - Total revenue (excluding investment funds) decreased from approximately HKD 64.9 million for the six months ended September 30, 2023, to approximately HKD 16.0 million for the current period[1]. - Total revenue (including investment funds) decreased from approximately HKD 63.6 million for the six months ended September 30, 2023, to approximately HKD 8.6 million for the current period[1]. - For the six months ended September 30, 2024, the total revenue was HKD 12,245,000, a decrease from HKD 58,670,000 in the same period of 2023, representing a decline of approximately 79.1%[28][34]. - The total revenue of the group decreased from approximately HKD 63.6 million for the six months ended September 30, 2023, to about HKD 8.6 million for the current period, representing a decline of approximately 86.5%[86]. Revenue Breakdown - Revenue from corporate finance advisory services for the current period was approximately HKD 11.3 million, accounting for about 131.9% of total revenue (compared to 77.4% in 2023)[1]. - Revenue from securities and financing services for the current period was approximately HKD 4.6 million, accounting for about 54.2% of total revenue (compared to 20.7% in 2023)[1]. - The revenue from corporate finance advisory services was HKD 11,311,000, down from HKD 49,219,000, indicating a decrease of about 77% year-over-year[29][34]. - Revenue from financial and independent financial advisory services was approximately HKD 11.1 million for the current period, compared to about HKD 43.3 million in 2023, with 49 financial advisory projects and 17 independent financial advisory projects undertaken[78]. Financial Losses - The group recorded a loss of approximately HKD 17.6 million for the current period, compared to a profit of approximately HKD 10.9 million in 2023[1]. - The group recorded a loss attributable to owners of approximately HKD 17.5 million for the period, compared to a profit of approximately HKD 11.0 million in 2023, primarily due to a decrease in revenue[96]. - The group recorded a loss of approximately HKD 7.5 million from investment fund income, compared to a loss of about HKD 1.3 million in 2023[85]. Employee Costs - Employee costs for the current period were HKD 16.95 million, down from HKD 29.695 million in 2023[3]. - The group reported a total employee cost of HKD 16,950,000 for the six months ended September 30, 2024, down from HKD 29,695,000 for the same period in 2023, reflecting a decrease of approximately 42.9%[45]. - Employee costs decreased by approximately 42.7% to about HKD 17.0 million for the current period, down from approximately HKD 29.7 million for the six months ended September 30, 2023[89]. Assets and Liabilities - The group's net assets as of September 30, 2024, were HKD 116.33 million, compared to HKD 133.75 million as of March 31, 2024[10]. - The group's cash and bank balances as of September 30, 2024, were HKD 33.723 million, down from HKD 41.273 million as of March 31, 2024[7]. - The group’s total liabilities as of September 30, 2024, were HKD 77.17 million, compared to HKD 97.418 million as of March 31, 2024[7]. - As of September 30, 2024, the group's current assets net value was approximately HKD 105.3 million, down from approximately HKD 125.0 million on March 31, 2024, with a current ratio of approximately 2.4 times[98]. Credit and Risk Management - The company did not provide any credit facilities to its margin clients, indicating a conservative approach to credit risk management[56]. - The company’s management assessed the recoverability of loans based on the credit quality of margin clients, collateral values, and past collection records[55]. - The group regularly assesses the recoverability and adequacy of impairment for receivables based on various factors, including credit risk and historical settlement records[93]. - The expected credit loss assessment for receivables is based on a full-period expected credit loss model due to significant increases in credit risk from certain securities[92]. Market and Economic Outlook - The outlook for the future anticipates gradual recovery in Hong Kong's economy and financial markets, although volatility may persist due to various global uncertainties[110]. - The group plans to enhance its marketing efforts to explore new business opportunities not only in Hong Kong and China but also in Southeast Asia, Oceania, Europe, and the Americas[112]. - The group believes its comprehensive financial services provide a competitive advantage in acquiring new mandates and maintaining a healthy project pipeline[111]. Compliance and Governance - The audit committee consists of three independent non-executive directors, ensuring clear responsibilities and accountability[117]. - The group has adopted accounting principles and practices that comply with relevant standards and regulations as of September 30, 2024[119]. - The group continues to adhere to strict risk management and compliance policies to provide quality services to clients[112]. Dividends and Shareholder Information - The group did not declare or pay any interim dividends for the six months ended September 30, 2024, compared to HKD 10,149,000 in 2023[48]. - No interim dividend has been declared for the six months ending September 30, 2024, compared to HKD 0.025 per share in 2023[120]. - The interim results announcement is published on the Hong Kong Stock Exchange website and the company's website for shareholder access[122].
LFG投资控股(03938) - 2025 - 中期业绩