Financial Performance - The group recorded a consolidated gross profit margin of approximately 74.0%, a notable improvement compared to the previous period [6]. - Total revenue from continuing operations was HKD 63,758,000, a decrease from HKD 124,844,000 in the same period last year [9]. - The company reported a total comprehensive income of HKD 25,311,000 for the six months ended September 30, 2025, compared to a loss of HKD 17,817,000 in the previous year [10]. - The company reported a net loss of HKD 38,260,000 for the six months ended September 30, 2025, compared to a net profit of HKD 6,806,000 for the same period in 2024, indicating a significant decline in performance [15]. - The total comprehensive income for the period ended September 30, 2025, was HKD 27,349,000, compared to a total comprehensive loss of HKD 13,704,000 for the previous period, showing a turnaround in overall financial performance [15]. - The group recorded a loss from continuing operations of approximately HKD 19,800,000 for the six months ended September 30, 2025, compared to a profit of approximately HKD 22,000,000 in 2024 [110]. Revenue Breakdown - The lending business generated stable revenue of approximately HKD 27,500,000 during the period, reflecting ongoing demand in a competitive market [5]. - Securities and asset management segment revenue for the six months ended September 30, 2025, was approximately HKD 15,700,000 and HKD 400,000, respectively, compared to approximately HKD 10,000,000 and HKD 2,900,000 in 2024, indicating a significant increase in securities revenue by approximately HKD 5,700,000 [89]. - Revenue from the insurance brokerage business was approximately HKD 11,700,000 for the six months ended September 30, 2025, compared to approximately HKD 52,300,000 in 2024, reflecting a significant decline [92]. - Interest income from lending services increased to HKD 27,539,000 for the six months ended September 30, 2025, up from HKD 13,464,000 in 2024 [36]. - The total revenue from asset management services for the six months ended September 30, 2025, was HKD 350,000, down from HKD 2,947,000 in 2024 [35]. Operational Changes - The group has terminated operations in the fur segment and the trading segment due to the sale of Trade Region Limited and Jingji Financial Limited, respectively [27]. - The group aims to redirect financial and management resources towards strengthening and expanding its financial services platform following the sale of the fur business, aligning with global trends in sustainability and responsible investment [94]. - The group is exploring strategic collaboration opportunities in finance, environmental, social, governance, and technology sectors to create long-term value and support sustainable growth [94]. - The group continues to provide asset management services, securities brokerage, insurance brokerage, and lending services as part of its ongoing operations [28]. Asset and Liability Management - Non-current assets totaled HKD 410,169,000 as of September 30, 2025, a decrease from HKD 240,695,000 as of March 31, 2025 [13]. - Current assets amounted to HKD 789,903,000, down from HKD 944,644,000 in the previous reporting period [13]. - Current liabilities increased to HKD 293,652,000 from HKD 273,059,000, indicating a rise in short-term financial obligations [14]. - The company's total equity was HKD 879,919,000 as of September 30, 2025, compared to HKD 924,879,000 at the end of the previous reporting period [14]. - The company’s total liabilities decreased from HKD 202,831,000 as of March 31, 2025, to HKD 195,840,000 as of September 30, 2025, a reduction of approximately 3.9% [69]. Strategic Investments and Acquisitions - The company is in the process of acquiring 80% equity interest in Jakota Capital AG for a maximum consideration of HKD 103 million, with the issuance of up to 705,479,452 new shares as payment [84]. - The company has extended the deadline for the completion of the acquisition of Jakota Capital AG from September 30, 2025, to December 31, 2025 [85]. - The group sold its entire equity interest in Trade Region Limited for HKD 10 million, with a net cash inflow of HKD 9.261 million after accounting for cash and cash equivalents sold [80][81]. Financial Health Indicators - The company’s accumulated losses as of September 30, 2025, stood at HKD 2,260,822,000, reflecting ongoing challenges in profitability [15]. - The company’s debt-to-asset ratio was 3.7%, down from 6.1% on March 31, 2025 [119]. - The company ensures that all licensed subsidiaries maintain sufficient liquidity to support business operations and meet potential increases in cash flow requirements [120]. - The company has no assets pledged as collateral as of September 30, 2025 [122]. Employee and Governance - As of September 30, 2025, the group employed 55 full-time employees, a decrease from 65 employees as of March 31, 2025 [137]. - The company has adopted a standard code of conduct for directors regarding securities trading, with no known violations during the reporting period [136]. - The audit committee consists of three independent non-executive directors, including the chairperson, Ms. Mai Runzhu, and has reviewed the financial reports and internal controls [142].
嘉高达资本(01468) - 2026 - 中期业绩