Financial Performance - Total revenue decreased by approximately 25.9% from about HKD 32.4 million for the six months ended September 30, 2023, to about HKD 24.0 million for the six months ended September 30, 2024[4]. - Revenue from financial advisory and independent financial advisory services was approximately HKD 7.6 million (2023: HKD 8.8 million) and HKD 7.6 million (2023: HKD 12.0 million) respectively, accounting for about 63.3% of total revenue[4]. - Revenue from compliance advisory services was approximately HKD 8.8 million (2023: HKD 11.6 million), representing about 36.7% of total revenue[4]. - The group recorded a pre-tax loss of approximately HKD 11.7 million (2023: HKD 1.0 million) and a post-tax loss of approximately HKD 11.7 million (2023: HKD 0.9 million)[4]. - Investment income for the six months ended September 30, 2024, was approximately 937,000 HKD, a decrease of 51% from 1,914,000 HKD in the same period of 2023[13]. - The group reported a pre-tax loss of HKD 11,707 thousand, compared to a pre-tax loss of HKD 979 thousand in the previous year, indicating a significant decline in performance[38]. - The company reported a net loss attributable to the owners of the company of HKD 11,698 thousand, compared to a loss of HKD 839 thousand in the same period last year, representing a substantial increase in losses[40]. - The total comprehensive loss for the period was HKD 11,703 thousand, compared to HKD 898 thousand in the previous year, indicating a significant deterioration in overall financial health[40]. Asset and Equity Changes - Net asset value decreased from approximately HKD 78.5 million as of March 31, 2024, to about HKD 64.2 million as of September 30, 2024, primarily due to the loss incurred during the period[4]. - Current assets decreased to HKD 64,516 thousand from HKD 81,523 thousand, reflecting a decline of 20.9%[42]. - The group's cash and cash equivalents were HKD 53,625 thousand, down from HKD 60,163 thousand, indicating a decrease of 10.1%[42]. - The total equity attributable to owners of the company decreased to HKD 64,144 thousand from HKD 78,443 thousand, a decline of 18.2%[44]. - The company’s retained earnings decreased to HKD 5,921,000 as of September 30, 2024, from HKD 17,631,000 as of April 1, 2024[47]. Operational Changes and Cost Management - A cost optimization plan has been initiated to modernize employee compensation schemes and strengthen operational cost control, targeting a reduction of HKD 1 million in monthly recurring operating costs starting from 2025[9]. - Employee benefit costs increased by approximately 3.1% to 26,256,000 HKD for the six months ended September 30, 2024, from 25,485,000 HKD in the same period of 2023[17]. - Depreciation and other operating expenses decreased by approximately 13.2% to 7,945,000 HKD for the six months ended September 30, 2024, from 9,137,000 HKD in the same period of 2023[20]. Market Environment - The market environment for corporate financing transactions remains challenging, with companies adopting a cautious approach to initiating new transactions[9]. - The group experienced significant pressure on fees and profit margins due to intense price competition in the corporate financing market[9]. Shareholder and Capital Management - The board does not recommend the payment of any dividends for the period (2023: none)[4]. - The company issued 161,000 shares after exercising stock options during the period[47]. - The company recognized a dividend distribution of HKD 3,679,000 during the period[47]. - The company aims to enhance shareholder value through share repurchases, which are expected to increase net asset value and earnings per share[98]. Employee and Talent Management - The company granted 11,700,000 stock options under the 2023 stock option plan at an exercise price of HKD 0.72 per share[106]. - The 2023 stock option plan is designed to attract and retain top talent within the group[105]. - The company aims to reward and incentivize employees contributing to its operations and development through stock options[105]. Audit and Compliance - The company has established an audit committee consisting of three independent non-executive directors, responsible for reviewing financial reports and overseeing risk management[116]. - The external auditor, Grant Thornton, has reviewed the group's unaudited condensed consolidated financial statements and found no significant issues[118]. - The company plans to publish its interim report for the six months ending September 30, 2024, which will include all information required by GEM listing rules[119].
新百利融资(08439) - 2025 - 中期业绩