Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 89,280,000, a decrease of 36.4% compared to HKD 140,435,000 for the same period in 2023[3] - Gross profit for the same period was HKD 45,241,000, down 42.9% from HKD 79,252,000 in 2023[3] - Other income increased significantly to HKD 23,369,000, compared to HKD 9,568,000 in the previous year, representing a growth of 144.5%[3] - Profit before tax surged to HKD 31,020,000, compared to HKD 3,395,000 in the same period last year, marking an increase of 814.5%[3] - Net profit for the period was HKD 28,278,000, a substantial rise from HKD 2,835,000 in 2023, reflecting an increase of 895.5%[3] - Basic and diluted earnings per share were both HKD 2.46 cents, compared to HKD 0.25 cents in the previous year, indicating a significant improvement[5] - The company reported a total comprehensive income of HKD 20,058,000 for the period, compared to a loss of HKD 2,679,000 in the previous year[5] - The group’s profit increased from approximately HKD 2.8 million for the six months ended September 30, 2023, to approximately HKD 28.3 million for the six months ended September 30, 2024, representing a growth of about 10.1 times[34] Revenue Breakdown - For the six months ending September 30, 2024, the total revenue was HKD 89,280,000, with a profit of HKD 20,255,000[19] - For the six months ending September 30, 2023, the total revenue was HKD 140,435,000, with a profit of HKD 40,868,000[21] - The financial communications services segment generated revenue of approximately HKD 89.2 million for the six months ended September 30, 2024, down about 36.5% from HKD 140.4 million for the same period in 2023[36] - The international roadshow services segment recorded revenue of HKD 124,000 for the six months ended September 30, 2024, compared to no revenue in the same period in 2023[37] Assets and Liabilities - Total assets as of September 30, 2024, amounted to HKD 1,477,303,000, an increase from HKD 1,457,245,000 as of March 31, 2024[9] - Cash and cash equivalents increased to HKD 226,733,000 from HKD 213,710,000, showing a growth of 6.0%[7] - Trade and other receivables decreased to HKD 26,922,000 from HKD 39,356,000, a decline of 31.5%[7] - Trade receivables (net of provisions) as of September 30, 2024, were HKD 23,199,000, down from HKD 36,079,000 as of March 31, 2024[30] - As of September 30, 2024, the group had no short-term bank loans or overdrafts, maintaining a capital-to-debt ratio of 0%[40] - The group had cash and bank balances of approximately HKD 226.7 million and fixed deposits of approximately HKD 549.5 million as of September 30, 2024[40] Expenses - The company’s total employee costs decreased to HKD 25,653,000 in 2024 from HKD 31,270,000 in 2023[23] - Total employee costs, including director remuneration, amounted to approximately HKD 25.7 million for the six-month period ending September 30, 2024[52] - The company has 180 full-time employees as of September 30, 2024[52] - The company reported a loss of HKD 7,035,000 from financial assets measured at fair value through profit or loss for the six months ending September 30, 2024[25] - The company’s total unallocated corporate expenses were HKD 11,596,000 for the six months ending September 30, 2024[19] Future Outlook and Strategy - The group anticipates an increase in large IPOs in the remaining months of 2024, driven by favorable economic conditions and government support[46] - The group aims to expand its client base and deepen professional services for existing long-term clients during the upcoming market upturn[47] - The company has approximately HKD 124.9 million allocated for potential acquisitions or partnerships with a public company in China by September 30, 2024[49] - The expected use of proceeds from the initial public offering includes approximately HKD 423.0 million for online-to-offline services by December 31, 2024[50] - The expected timeline for the use of proceeds is based on the company's best estimates of future market conditions and strategic developments, subject to change[50] Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring compliance with corporate governance standards[58] - The company has adhered to the corporate governance code as of September 30, 2024, with no deviations reported[53] - The company has established a strong leadership structure with the same individual serving as both Chairman and CEO, which is believed to provide consistent direction[54] - The company plans to issue a mid-term report to shareholders and publish it on its website in a timely manner[59] - The company has not purchased, sold, or redeemed any of its listed securities during the six-month period ending September 30, 2024[56]
皓天财经集团(01260) - 2025 - 中期业绩