Financial Performance - The company recorded total revenue of approximately HKD 30,300,000 for the fiscal year, representing an increase of about 2.6% compared to the previous fiscal year[11]. - The loss attributable to the company's owners was approximately HKD 9,500,000, a significant reduction from the previous year's loss of HKD 53,100,000[11]. - The financial assets measured at fair value through profit or loss generated a net gain of approximately HKD 3,100,000, compared to a net loss of HKD 19,100,000 in the previous year[16]. - The cost of sales and services provided was approximately HKD 8,100,000, a decrease of about 7.7% from HKD 8,800,000 in the previous year, due to cost control measures[15]. - Other income increased significantly to approximately HKD 3,800,000, up about 320.1% from HKD 900,000 in the previous year, primarily due to waived interest expenses[15]. - Administrative expenses were approximately HKD 17,400,000, a reduction of about 18.4% from HKD 21,300,000 in the previous year, also attributed to cost control measures[15]. - Revenue from asset advisory and valuation services decreased from approximately HKD 18,700,000 to approximately HKD 17,600,000, a decline of about 5.8%[18]. - Revenue from corporate services and consulting services increased to approximately HKD 7,100,000, representing a growth of about 67.9% compared to a projected revenue of HKD 4,200,000 for 2024[20]. - The financial services segment contributed approximately HKD 4,900,000 to the group's revenue, a decrease of about 16.7% compared to a projected revenue of HKD 5,900,000 for 2024[23]. - The net loss for the year was HKD 9,493,000, a substantial reduction from HKD 53,101,000 in 2024, showcasing a turnaround in financial performance[174]. - The total comprehensive loss for the year was HKD 9,506,000, down from HKD 53,541,000 in 2024, indicating a significant improvement in overall financial health[176]. Assets and Liabilities - As of March 31, 2025, the group's net loan portfolio was approximately HKD 38,200,000, with loans ranging from HKD 300,000 to HKD 10,000,000[26]. - The expected credit loss provision for receivables was confirmed at approximately HKD 16,900,000 due to economic downturn and uncertainty in the economic outlook[28]. - The group had 18 individual borrowers, with outstanding loans due within one year amounting to approximately HKD 35,700,000[23]. - The largest borrower accounted for approximately HKD 10,000,000, representing about 26.1% of the group's receivables[26]. - Total loans classified as Stage 3 amount to approximately HKD 20,300,000 due to overdue repayments and unsecured nature of loans[30]. - The group's cash and bank balances increased to approximately HKD 8,900,000 as of March 31, 2025, compared to HKD 3,400,000 in 2024[35]. - The net current assets as of March 31, 2025, are approximately HKD 45,800,000, up from HKD 12,900,000 in 2024[35]. - The current ratio improved to approximately 1.7 as of March 31, 2025, compared to 1.3 in 2024[35]. - The total borrowings amount to approximately HKD 37,900,000 as of March 31, 2025, down from HKD 38,700,000 in 2024[35]. - The company's equity attributable to owners decreased from HKD 27,679,000 in 2024 to HKD 23,569,000 in 2025, a decline of approximately 14.8%[179]. Governance and Compliance - The board of directors held a total of 4 meetings and 1 annual general meeting during the year[65]. - All directors confirmed compliance with the trading code for securities transactions throughout the year[61]. - The board consists of 2 executive directors and 3 independent non-executive directors, ensuring a balance of power[64]. - The company has adopted the GEM Listing Rules regarding the independence of non-executive directors, with at least one possessing relevant professional qualifications[67]. - Independent non-executive directors are required to confirm their independence annually according to GEM Listing Rules[67]. - The company has mechanisms in place to ensure the board receives independent viewpoints and opinions[68]. - The roles of chairman and CEO are currently held by the same individual, which the board believes provides strong and consistent leadership[70]. - The company has established a comprehensive onboarding process for new directors to enhance their understanding of the group's culture and operations[74]. - The company has adopted a board diversity policy, which includes considerations of gender, age, cultural background, and professional experience[83]. - The company has established anti-bribery and corruption policies to promote compliance with relevant laws and regulations[92]. - The company has complied with all relevant laws and regulations in Hong Kong and China during the year[107]. Risk Management - The company’s risk management and internal control systems were deemed effective and adequate by the Audit Committee this year[82]. - The group has established a risk management policy and adopted a three-tier risk management approach to identify, assess, and manage various risks[91]. - The board conducts an annual review of the effectiveness of the risk management and internal control systems, covering significant financial, operational, and compliance monitoring[91]. - The independent auditor identified the impairment of trade receivables and loans receivable as a key audit matter due to the significant judgment involved in assessing credit quality and expected credit losses[162]. Shareholder Information - The company raised approximately HKD 4,700,000 through a subscription agreement, with a net amount of HKD 4,600,000 allocated for general working capital[111]. - The company did not recommend the payment of a final dividend for the year 2024, consistent with the previous year[103]. - As of March 31, 2025, the company has approximately HKD 1,000 available for distribution to its owners, a decrease from approximately HKD 2,300,000 in 2024[116]. - The company maintains a high level of transparency and has established a shareholder communication policy to facilitate interaction with shareholders[97]. - The company has not redeemed any of its GEM listed shares during the year, nor has it purchased or sold any related shares[114]. Employee Information - The group employed 22 employees as of March 31, 2025, an increase from 18 employees in 2024, with total employee costs amounting to approximately HKD 6,600,000, down from HKD 7,100,000 in 2024[51]. - As of March 31, 2025, the group has a total of 22 employees, with a gender composition of approximately 50% male and 50% female[85]. - The company emphasizes continuous professional development for all directors to enhance their knowledge and skills[74]. Financial Reporting Standards - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from April 1, 2024, including HKAS 1 amendments on classification of liabilities[189]. - The group does not expect significant impact on its consolidated financial position and performance from the newly adopted standards for the current and prior periods[189]. - The group is currently evaluating the impact of HKFRS 18 on the presentation and disclosure of its consolidated financial statements[194]. - The new HKFRS 18 will replace HKAS 1 and introduce significant changes to the structure of the income statement and performance metrics disclosure[193].
亚太金融投资(08193) - 2025 - 年度财报