Financial Performance - Total revenue for the year ended February 28, 2025, was HKD 167,677,000, a significant increase from HKD 32,727,000 in the previous year, representing a growth of 412%[3] - The company reported a net loss of HKD 35,287,000 for the year, compared to a profit of HKD 1,775,000 in the previous year, indicating a decline in profitability[4] - Earnings per share (EPS) for the year was a loss of HKD 68.78, compared to a profit of HKD 3.66 in the previous year[4] - The company generated HKD 151,467,000 from placement and underwriting services, a substantial increase from HKD 10,913,000 in the previous year, marking a growth of 1,283%[4] - The company reported other income of HKD 5,408,000, compared to HKD 4,638,000 in the previous year, showing an increase of 16.6%[4] - The company reported a loss attributable to owners of the company of HKD (35,287) thousand for 2025, compared to a profit of HKD 1,775 thousand in 2024, resulting in a basic and diluted loss per share of (68.78) cents, down from 3.66 cents[27] - The group recorded a total loss and comprehensive expenses of approximately HKD 35.3 million, compared to a total income of about HKD 1.8 million in the previous year[56] Assets and Liabilities - The total assets of the company as of February 28, 2025, amounted to HKD 353,027,000, up from HKD 283,600,000 in the previous year, reflecting an increase of 24.5%[5] - Current assets increased to HKD 350,483,000 from HKD 282,091,000, representing a growth of 24.2%[5] - The company’s current liabilities rose to HKD 165,905,000 from HKD 73,111,000, indicating an increase of 126%[5] - The company’s equity decreased to HKD 186,873,000 from HKD 210,489,000, a decline of 11.3%[6] - The company’s total accounts receivable increased to HKD 43,331 thousand in 2025, up from HKD 29,851 thousand in 2024, indicating growth in receivables across various services[29] - The company’s total loans receivable increased to HKD 29,797 thousand in 2025, up from HKD 19,478 thousand in 2024, indicating growth in lending activities[32] - Accounts payable from securities trading and brokerage services increased significantly to HKD 162,815,000 in 2025, compared to HKD 59,072,000 in 2024, reflecting a growth of 175%[40] Revenue Sources - The income from corporate finance advisory services decreased to HKD 8,495,000 in 2025 from HKD 11,734,000 in 2024, a decline of about 28.5%[17] - Placement and underwriting service income surged to HKD 151,467,000 in 2025, compared to HKD 10,913,000 in 2024, marking an increase of approximately 1,284%[17] - Commission income from securities trading and brokerage services slightly decreased to HKD 2,866,000 in 2025 from HKD 3,002,000 in 2024, a decline of about 4.5%[17] - Interest income from margin clients was HKD 2,609,000 in 2025, down from HKD 5,523,000 in 2024, reflecting a decrease of approximately 52.8%[17] - The group participated in 23 financial advisory projects this year, generating approximately HKD 4.5 million in revenue, with a forecast of 10 projects and HKD 2.0 million for 2024[61] - The group engaged in 9 compliance advisory projects this year, resulting in revenue of about HKD 2.0 million, with expectations of 7 projects and HKD 1.5 million for 2024[62] - The group completed 33 placement and underwriting projects this year, generating revenue of approximately HKD 151.5 million, with a forecast of 12 projects and HKD 10.9 million for 2024[63] Employee Costs - The company’s employee costs decreased to HKD 22,162,000 from HKD 41,368,000, a reduction of 46.4%[4] - Total employee costs decreased to HKD 22,162 thousand in 2025 from HKD 41,368 thousand in 2024, with significant reductions in bonuses and other employee benefits[8] - Employee costs decreased by approximately 46.4% to about HKD 22.2 million, attributed to optimized employee compensation plans[77] Market and Economic Conditions - The average daily trading volume in the Hong Kong stock market increased by approximately 53.7% to about HKD 152.7 billion[54] - The Hang Seng Index rose by approximately 38.9% during the year, closing at 22,941 points[54] - The number of new companies listed on the main board increased by about 5.9% to 72, with total funds raised amounting to approximately HKD 93.6 billion, an increase of about 110.0%[54] - The global GDP growth rate remained stable at around 5.0% for China in 2024, aligning with government targets despite challenges[52] Strategic Outlook - The group recognizes the complex and challenging business environment for the upcoming fiscal year and will focus on risk management and cost control strategies[99] - The group aims to strengthen core businesses, expand product offerings, and enhance service quality while exploring diversification opportunities for long-term growth[100] - The group is committed to aligning with national strategies and leveraging its overseas network to promote cross-border business expansion[101] Compliance and Governance - The audit committee has reviewed the group's consolidated financial statements for the year, ensuring compliance with accounting principles[105] - The group's auditor, BDO Limited, confirmed that the preliminary announcement figures align with the audited consolidated financial statements[106] - The company maintains the required public shareholding percentage as per listing rules[108] - The annual performance announcement and annual report will be published on the Hong Kong Stock Exchange website and the company's website[109]
创升控股(02680) - 2025 - 年度业绩