Financial Performance - Total revenue for the six months ended September 30, 2024, was HKD 167,906,000, a slight decrease of 0.2% compared to HKD 168,244,000 in the same period last year[3] - Profit before tax for the period was HKD 80,054,000, down 22% from HKD 102,614,000 in the previous year[5] - Net profit for the period was HKD 71,814,000, a decrease of 16.5% compared to HKD 85,957,000 in the same period last year[5] - Basic and diluted earnings per share were 2.9 HK cents, down from 3.4 HK cents year-on-year[5] - The company declared a dividend of HKD 75,000,000, down from HKD 150,000,000 in the previous year[5] - The company's profit attributable to equity holders for the six months ended September 30, 2024, was HKD 71,814,000, a decrease of 16.4% compared to HKD 85,957,000 for the same period in 2023[40] - Earnings per share decreased to HKD 0.029 from HKD 0.034 in the previous year[68] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 4,480,774,000, a decrease from HKD 4,545,373,000 as of March 31, 2024[9] - Total liabilities increased to HKD 356,911,000 from HKD 260,522,000 as of March 31, 2024[11] - The group reported a total of HKD 4,613,766,000 in total assets as of September 30, 2024, compared to HKD 4,598,963,000 as of March 31, 2024[28] - The group’s liabilities totaled HKD 273,096,000, with a significant portion attributed to margin financing and brokerage activities[28] - The group’s non-current assets amounted to HKD 199,631,000 as of September 30, 2024, compared to HKD 60,248,000 as of March 31, 2024, indicating a substantial increase in long-term investments[29] Cash Flow - The net cash generated from operating activities for the six months ended September 30, 2024, was HKD 286,801,000, an increase of 22.8% compared to HKD 233,471,000 for the same period in 2023[15] - The net cash used in investment activities was HKD (162,984,000), a significant decrease from HKD 9,190,000 in the previous year, indicating a shift in investment strategy[15] - The total cash and cash equivalents increased to HKD 2,480,112,000 from HKD 2,399,097,000, reflecting a growth of 3.4% year-over-year[15] - The company’s cash and cash equivalents in general accounts and cash amounted to HKD 2,480,112,000, slightly up from HKD 2,434,035,000 as of March 31, 2024[9] Impairment and Credit Risk - The company reported a net impairment loss on receivables of HKD 59,186,000, compared to HKD 45,905,000 in the previous year, indicating a significant increase in credit risk[3] - The net impairment loss on receivables for the period was HKD 59.2 million, compared to HKD 45.9 million in the previous year[67] - The group faced a net credit risk primarily from the carrying value of confirmed financial assets, with ongoing monitoring and risk assessment conducted quarterly[58] Market and Business Operations - The company continues to focus on expanding its financial services, including securities trading, asset management, and corporate finance[17] - The group operates primarily in Hong Kong and the UK, with all revenue generated from the Hong Kong market[28] - The Hong Kong economy continued to expand in the second and third quarters of 2024, although at a slower pace, impacted by geopolitical tensions affecting international trade and capital flows[69] - The average daily trading volume on the main board and GEM increased by 20.4% to approximately HKD 121.1 billion compared to the previous fiscal period's HKD 100.6 billion[71] Shareholder Information - As of September 30, 2024, Mr. Hong Hanwen holds 1,824,690,171 shares of the company, representing 72.99% of the issued share capital[87] - Mr. Hong Hanwen is deemed to have an interest in 6,388,365,872 shares of Honeylink, which constitutes 66.11% of Honeylink's issued share capital[91] - Major shareholders owning 5% or more of the issued share capital include Honeylink and Mr. Hong Hanwen, both holding 1,824,690,171 shares[98] Corporate Governance - The company has adhered to the corporate governance code principles and applicable provisions during the reporting period[102] - The audit committee reviewed the group's unaudited condensed consolidated interim financial statements for the six months ended September 30, 2024[103] - No changes in director information since the publication of the annual report for the year ending March 31, 2024[106] - The executive directors are Mr. Chan Kin Wai (Managing Director) and Mr. Hung Sui Kwan (Chief Executive Officer)[106] - The non-executive director is Mr. Hung Han Man (Chairman)[106] - Independent non-executive directors include Ms. Ng Yau Kwan, Mr. Cheung Chi Keung, and Mr. Chan Ka Kit[106] Employee Compensation - The total employee compensation cost for the period was HKD 9.3 million, down from HKD 10.1 million in the previous year[86]
结好金融(01469) - 2025 - 中期财报