Financial Performance - For the fiscal year ending March 31, 2025, the total revenue was approximately HKD 51.6 million, a decrease of about 23.4% compared to HKD 67.4 million in 2024[4] - The group recorded a pre-tax loss of approximately HKD 13.9 million, significantly increasing from a pre-tax loss of HKD 3.6 million in 2024[4] - The adjusted pre-tax loss for the fiscal year was approximately HKD 10.5 million, compared to a profit of HKD 0.843 million in 2024[7] - The company reported a net loss of approximately HKD 13.8 million for the year, compared to a net loss of HKD 3.6 million in 2024, indicating a significant decline in financial performance[41] - The group experienced a total comprehensive loss of approximately HKD 13.8 million for the year, compared to a comprehensive loss of HKD 3.6 million in 2024[42] - The company reported a pre-tax loss of HKD 13,854,000 for the year ended March 31, 2025, compared to a pre-tax loss of HKD 3,580,000 for the previous year, indicating a significant increase in losses[62] Revenue Breakdown - Revenue from financial advisory services was approximately HKD 33.7 million, accounting for about 65.3% of total revenue, down from 63.8% in 2024[4] - Revenue from compliance advisory services was approximately HKD 17.3 million, representing about 33.5% of total revenue, a decrease attributed to a reduction in IPO activity and the loss of existing compliance contracts[13] - The revenue from financial advisory and independent financial advisory services amounted to approximately HKD 33.7 million, accounting for about 65.3% of total revenue, down from 63.8% in 2024[12] - The company reported a decrease in advisory fees from financial consulting, with revenue from acting as a financial advisor dropping to HKD 14,842,000 in 2025 from HKD 20,340,000 in 2024[60] Cost Management - The group implemented a cost optimization plan starting December 2024, aiming to reduce average employee benefits and operating expenses by approximately HKD 1.0 million per month[9] - The group’s total operating expenses decreased due to the cost optimization plan, which partially offset the revenue decline[9] - Employee benefit costs decreased by approximately 7.5% to about HKD 49.4 million from HKD 53.4 million in 2024, primarily due to a revised compensation structure[20] - Depreciation and other operating expenses decreased by approximately 17.3% to about HKD 15.3 million from HKD 18.5 million in 2024, mainly due to enhanced cost control measures[22] Asset and Liability Management - The net asset value decreased from approximately HKD 78.5 million as of March 31, 2024, to approximately HKD 62.5 million as of March 31, 2025, primarily due to the loss incurred during the year[4] - The group's cash and cash equivalents as of March 31, 2025, were approximately HKD 51.6 million, down from HKD 60.2 million in 2024, reflecting a decrease of 11.4%[28] - The current ratio as of March 31, 2025, was 7.6 times, down from 10.7 times in 2024, indicating a decline in liquidity[28] - Total liabilities increased significantly to HKD 9,997,000 in 2025 from HKD 1,402,000 in 2024, marking a rise of 612.4%[44] - Equity attributable to owners decreased to HKD 62,481,000 in 2025 from HKD 78,443,000 in 2024, a decrease of 20.4%[44] Strategic Initiatives - The company is cautiously evaluating various methods to restart its asset management business in light of current market conditions[10] - The company has entered into a supplemental agreement with CoinstreetPro (Global) Limited to further invest in its subsidiary, indicating ongoing strategic initiatives[18] Dividend and Shareholder Information - The board proposed a final dividend of HKD 0.02 per share, down from HKD 0.025 per share in 2024, subject to shareholder approval[4] - The proposed final dividend for the year ending March 31, 2025, is HKD 0.02 per share, down from HKD 0.025 per share in 2024[68] - The basic and diluted loss per share attributable to the company's owners is HKD (13,809,000) for 2025, compared to HKD (3,543,000) for 2024, with a weighted average number of shares of 146,769,000 for 2025[69] Governance and Compliance - The company has adopted the corporate governance code as a benchmark for its governance practices, ensuring compliance throughout the year[85] - The audit committee held four meetings during the year, focusing on reviewing annual and interim financial statements[89] - The audit committee has reviewed the efficiency of the internal control system and the adequacy of accounting and financial reporting resources[93] - The company plans to continue its relationship with the auditor, KPMG, pending shareholder approval at the upcoming annual general meeting[91] Market Conditions and Risks - The group faced significant challenges in the Hong Kong corporate finance market due to economic uncertainties and geopolitical tensions, impacting investor confidence and transaction completion[6] - The group faced significant risks including reliance on its corporate finance advisory segment, which is subject to economic fluctuations and regulatory changes[37]
新百利融资(08439) - 2025 - 年度业绩