Financial Performance - The total revenue and investment income for the year ended March 31, 2025, was approximately HKD 39,100,000, an increase of about 4.6% compared to HKD 37,400,000 for the year ended March 31, 2024[3]. - The pre-tax loss for the year ended March 31, 2025, was approximately HKD 500,000, significantly improved from a loss of HKD 11,100,000 in the previous year[3]. - The loss attributable to owners of the company for the year ended March 31, 2025, was approximately HKD 2,700,000, down from HKD 12,300,000 for the year ended March 31, 2024[3]. - Basic and diluted loss per share for the year ended March 31, 2025, was approximately HKD 0.12, compared to HKD 0.56 for the previous year[3]. - The total comprehensive loss attributable to owners for the year ended March 31, 2025, was approximately HKD 2,672,795, compared to HKD 13,686,429 in the previous year[5]. - The group reported a net loss before tax of HKD 525,563 for the year 2025, compared to a net loss of HKD 11,053,072 in 2024, indicating an improvement in financial performance[29]. - The company reported a loss attributable to shareholders of HKD 2,658,944 in 2025, compared to a loss of HKD 12,257,049 in 2024, indicating a significant improvement[44]. Assets and Liabilities - Total assets less current liabilities as of March 31, 2025, amounted to HKD 181,188,666, a slight decrease from HKD 182,712,587 in the previous year[7]. - Total assets for the year ending March 31, 2025, amounted to HKD 232,934,296, a decrease from HKD 249,342,480 in 2024, representing a decline of approximately 6.6%[33]. - Total liabilities for the year ending March 31, 2025, were HKD 53,928,254, compared to HKD 67,663,643 in 2024, indicating a reduction of about 20.3%[33]. - The total borrowings as of March 31, 2025, were HKD 10,968,832, a decrease from HKD 28,293,898 in 2024, with secured bank loans at HKD 6,468,832 and shareholder loans at HKD 4,500,000[60]. Revenue Sources - Commission income from securities trading on the Hong Kong Stock Exchange increased to HKD 4,847,295 in 2025 from HKD 4,485,249 in 2024, reflecting a growth of about 8.06%[24]. - Interest income from margin clients rose significantly to HKD 18,218,874 in 2025, up from HKD 13,791,831 in 2024, marking an increase of approximately 32.5%[24]. - The total segment revenue for the investment holding segment was HKD 52,500 in 2025, compared to HKD 94,620 in 2024, indicating a decline of approximately 44.5%[29]. - Interest income from loan clients decreased by approximately 32.9% from HKD 16,117,891 in 2024 to HKD 10,808,059 in 2025[69]. Credit Quality and Impairment - The expected credit loss on trade receivables for 2025 was HKD (10,870,446), a substantial increase from HKD (3,852,949) in 2024, highlighting a deterioration in credit quality[26]. - The expected credit loss provision for margin clients increased to HKD 21,109,758 in 2025 from HKD 15,984,639 in 2024, showing a rise of about 32.5%[49]. - The total impairment loss provision for receivables increased by HKD 19,186,630, with contributions from Stage 1, Stage 2, and Stage 3 receivables amounting to HKD 91,794, HKD 12,491,209, and HKD 6,603,627 respectively[54]. - The total impairment losses recognized for trade receivables and loans under the expected credit loss model were approximately HKD 10,900,000 and HKD 19,200,000 for the year ending March 31, 2025, compared to HKD 3,900,000 and HKD 30,100,000 for the year ending March 31, 2024[77]. Cash Flow and Liquidity - The company’s cash and cash equivalents in general accounts amounted to HKD 11,277,168 as of March 31, 2025, compared to HKD 3,618,638 in the previous year[6]. - Cash and bank balances increased by approximately 211.6% to HKD 11,300,000 as of March 31, 2025, compared to HKD 3,600,000 as of March 31, 2024[80]. - The current ratio improved to approximately 3.7 times as of March 31, 2025, compared to approximately 3.0 times as of March 31, 2024[80]. - The company maintains sufficient liquidity to meet both long-term and short-term financial obligations, supported by a monitoring system and backup bank credit lines[91]. Dividends and Shareholder Information - The company reported no proposed dividend for the year ended March 31, 2025, consistent with the previous year[3]. - No dividends are proposed for the fiscal year ending March 31, 2025, and the annual general meeting is scheduled for August 11, 2025[100]. Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, has reviewed the financial results for the year ending March 31, 2025, ensuring compliance with applicable accounting standards[101]. - The preliminary performance figures for the year ending March 31, 2025, have been verified by the auditor, Tianjian International CPA Limited[102]. - The company has not issued any certification regarding the preliminary announcement as it does not constitute an audit engagement under Hong Kong auditing standards[102]. Future Outlook and Strategy - The company aims to expand its client base by attracting customers affected by local brokerage closures and enhancing its trading platform[93]. - The company is committed to becoming a leading financial services group in Hong Kong and will continue to explore new revenue opportunities to enhance profitability[93]. - The group did not have any significant investments or acquisitions planned as of March 31, 2025, but will actively seek investment opportunities to enhance profitability[85].
昌利控股(08098) - 2025 - 年度业绩