Financial Performance - For the six months ended September 30, 2025, total revenue was HKD 11,993,000, an increase of 10.4% from HKD 10,864,000 in the same period of 2024[11] - Gross profit for the same period was HKD 7,905,000, up 33.5% from HKD 5,921,000 year-on-year[11] - The company reported a profit before tax of HKD 26,100,000, compared to a loss of HKD 1,230,000 in the previous year[11] - Net profit attributable to owners of the company was HKD 27,242,000, a significant recovery from a loss of HKD 1,133,000 in the prior period[12] - Basic and diluted earnings per share for the period were HKD 0.097, compared to a loss per share of HKD 0.004 in the same period last year[12] - The company recorded a fair value gain on financial assets of HKD 28,588,000, compared to HKD 718,000 in the previous year[11] - The total comprehensive income for the period was HKD 26,138,000, compared to a total comprehensive loss of HKD 1,573,000 in the same period of 2024[12] - The group recorded a pre-tax profit of HKD 26,100,000 for the six months ended September 30, 2025, compared to a loss of HKD 1,230,000 in 2024[28] - The fair value gain on financial assets recognized in profit or loss was HKD 28,588,000, significantly higher than HKD 718,000 in 2024[28] - The group reported a profit attributable to owners of approximately HKD 27,200,000, a significant turnaround from a loss of HKD 1,100,000 in the same period last year[55] Revenue Breakdown - The asset advisory and valuation services segment generated revenue of HKD 8,897,000, up 28.8% from HKD 6,908,000 in 2024[26] - The financial services segment reported revenue of HKD 2,093,000, a decrease of 15.4% from HKD 2,473,000 in 2024[26] - The group's revenue for the period was approximately HKD 12,000,000, an increase of about 10.1% compared to the same period last year (HKD 10,900,000) due to increased income from asset advisory and valuation services[54] Expenses and Costs - Marketing and administrative expenses increased to HKD 10,695,000 from HKD 7,164,000, reflecting a rise of 49.5%[11] - The total financial costs for the six months ended September 30, 2025, were HKD 1,076,000, slightly lower than HKD 1,095,000 in 2024[27] - The cost of sales decreased by approximately 16.3% to HKD 4,100,000 from HKD 4,900,000 in the same period last year, attributed to cost control measures implemented during the period[54] - Marketing and administrative expenses increased by approximately 48.6% to HKD 10,700,000 from HKD 7,200,000 in the same period last year, primarily due to increased advertising and management costs[54] Assets and Liabilities - As of September 30, 2025, the company's non-current assets totaled HKD 22,180,000, an increase from HKD 3,320,000 as of March 31, 2025[13] - Current assets reached HKD 115,350,000, up from HKD 106,916,000, indicating a growth of approximately 7.5%[13] - The company's net current assets improved to HKD 53,049,000 from HKD 45,771,000, reflecting an increase of about 15.0%[13] - Total liabilities stood at HKD 62,301,000, slightly up from HKD 61,145,000, showing a marginal increase of 1.9%[13] - The net asset value rose significantly to HKD 51,029,000 from HKD 24,891,000, marking a growth of approximately 104.5%[14] - The total accounts receivable as of September 30, 2025, was HKD 60,857,000, compared to HKD 84,169,000 as of March 31, 2025[38] - Trade receivables as of September 30, 2025, totaled HKD 17,467,000, compared to HKD 17,297,000 as of March 31, 2025[36] - The company's non-current portion of loans receivable was HKD 21,586,000 as of September 30, 2025[37] Cash Flow and Liquidity - Cash and cash equivalents decreased to HKD 2,212,000 from HKD 8,926,000, a decline of about 75.7%[16] - The company experienced a net cash outflow from operating activities of HKD 4,748,000, contrasting with a cash inflow of HKD 1,251,000 in the previous year[16] - The group's bank and cash balance was approximately HKD 2,200,000, down from HKD 8,900,000 as of March 31, 2025[81] - The group's net current assets as of September 30, 2025, were approximately HKD 53,000,000, an increase from HKD 45,800,000 as of March 31, 2025[81] - The current ratio as of September 30, 2025, was 1.9, compared to 1.7 as of March 31, 2025[81] - Total borrowings, including loans and promissory notes, were approximately HKD 37,100,000 as of September 30, 2025, slightly down from HKD 37,900,000 as of March 31, 2025[81] - The net debt-to-equity ratio as of September 30, 2025, was 0.7, improved from 1.2 as of March 31, 2025[81] Corporate Governance and Compliance - The company did not adopt any new accounting standards that would significantly impact its financial performance or position during the current or prior periods[19] - The group did not declare any dividends for the period, consistent with the previous year[31] - The company has adopted rules for directors' securities trading in compliance with GEM Listing Rules[97] - The company has complied with the GEM Listing Rules corporate governance code, except for the separation of roles between the chairman and the CEO[103] - The board believes that having the same person serve as both chairman and CEO strengthens leadership and allows for effective business decision-making[103] - The audit committee has reviewed the unaudited condensed consolidated results and confirmed compliance with applicable accounting standards and GEM Listing Rules[105] Employee and Management Information - The total employee cost for the period was approximately HKD 3,100,000, compared to HKD 5,700,000 for the six months ending September 30, 2024[85] - The group employed 21 staff members as of September 30, 2025, down from 22 as of March 31, 2025[85] - The short-term employee benefits for directors and key management personnel increased to HKD 1,002,000 for the six months ended September 30, 2025, from HKD 822,000 in the previous period[43] Shareholder Information - As of September 30, 2025, the total number of shares issued is 279,812,344[90] - Mr. Ye Guoguang holds 3,108,500 shares, representing 1.11% of the issued shares[87] - Laberie Holdings Limited and Caixin Media Group Limited each hold 56,000,000 shares, accounting for 20.01% of the issued shares[89] - Ms. Ru Xiaoge and Mr. Liu Shengnan each hold 46,637,200 shares, representing 16.67% of the issued shares[89] - Huatai Securities Co., Ltd. holds 50,508,421 shares, which is 18.05% of the issued shares[89] - The total number of stock options available for grant under the new plan is 27,981,234 shares, approximately 10% of the issued shares[96] - No stock options were granted, exercised, canceled, or expired during the reporting period[94] - The company did not repurchase any shares listed on GEM during the reporting period[100] - Mr. Ye Guoguang waived a director's fee of HKD 90,000 for the period[101] Risk Management and Strategy - The group maintains a conservative treasury policy to manage liquidity risks and ensure sufficient cash reserves for operational needs[82] - The company has adopted expected credit loss provisions in accordance with HKFRS 9, assessing impairment based on macroeconomic conditions and borrower creditworthiness[53] - The investment strategy focuses on maintaining a diversified portfolio to optimize the use of idle funds and achieve stable returns within acceptable risk levels[68] - The group anticipates stable demand for asset advisory and corporate consulting services in the Greater China region, driven by companies expanding their operations and increasing complexity[57] - The group plans to actively adjust its business strategies in response to changes in the media advertising industry due to frozen marketing expenditures[57]
亚太金融投资(08193) - 2026 - 中期业绩