Financial Performance - Total revenue for the six months ended September 30, 2025, was HK$12,346,000, a decrease of 31.2% compared to HK$17,934,000 for the same period in 2024[9]. - Commission income from securities dealing and brokerage services was HK$1,061,000, down 61.7% from HK$2,766,000 in 2024[9]. - Supply chain financing revenue increased to HK$8,695,000, up 35.6% from HK$6,412,000 in the previous year[9]. - Loss before tax for the period was HK$4,720,000, an improvement from a loss of HK$9,786,000 in the same period last year[11]. - Total comprehensive loss for the period was HK$5,470,000, compared to HK$10,486,000 in 2024, indicating a reduction of 47.8%[11]. - Basic loss per share improved to HK(11.30) cents from HK(25.46) cents in the previous year[11]. - The company reported a loss of HK$5,377,000 for the six months ended September 30, 2025, compared to a loss of HK$10,334,000 for the same period in 2024, indicating a 47.9% improvement[19]. - For the six months ended 30 September 2025, the total expenses amounted to HK$4,806,000, a decrease of 29% compared to HK$6,754,000 for the same period in 2024[46]. - The loss attributable to owners of the Company for the period was HK$5,378,000, a reduction from HK$10,334,000 in the same period last year[56]. Assets and Liabilities - Non-current assets decreased to HK$12,184,000 from HK$14,356,000 as of March 31, 2025[14]. - Current assets increased to HK$240,597,000 from HK$232,326,000 as of March 31, 2025[14]. - Total current liabilities increased to HK$75,618,000 as of September 30, 2025, up from HK$64,053,000 as of March 31, 2025, representing a 17.8% increase[16]. - Net current assets decreased slightly to HK$164,979,000 from HK$168,273,000, a decline of 1.7%[16]. - Total equity attributable to owners decreased to HK$139,716,000 as of September 30, 2025, down from HK$145,093,000, a decline of 3.7%[19]. - Cash and bank balances increased to HK$34,865,000 in house accounts from HK$27,060,000[14]. - The company reported a significant reduction in impairment of assets, down to HK$5,278,000 from HK$8,423,000 in the previous year[11]. - Accounts receivable from supply chain financing increased to HK$151,694,000 from HK$147,533,000, while total accounts receivable decreased to HK$164,513,000 from HK$175,357,000[64]. - Provision for loss allowance decreased significantly to HK$1,421,000 from HK$19,922,000, indicating improved credit quality[64]. Cash Flow - Net cash generated from operating activities was HK$13,838,000 for the six months ended September 30, 2025, compared to a cash outflow of HK$11,395,000 in the previous year[22]. - Cash and cash equivalents at the end of the period increased to HK$34,865,000 from HK$20,455,000, reflecting a significant growth of 70.7%[22]. - Total cash outflow for leases was HK$1,214,000, down from HK$2,539,000 in the previous year, indicating cost management efforts[62]. Revenue Sources - The Group did not recognize any revenue from placing and underwriting services in the current period, compared to HK$5,814,000 in the previous year[38]. - Advisory fee income was HK$0, down from HK$160,000 in the same period last year[38]. - The Group's net investment income was HK$0, compared to a loss of HK$398,000 in the previous year[38]. - Interest income from loan financing, margin financing, and money lending services decreased by approximately 38.4% from HK$1,691,000 to HK$1,042,000 due to a reduction in margin loans[104]. - The Group did not record any fee income from asset management services for the reporting period, down from approximately HK$493,000 in the corresponding period[107]. Operational Developments - The Group launched a new trading system and smartphone applications on February 26, 2024, aimed at enhancing user experience and reducing operational costs[96]. - The Group initiated a brand re-building program to attract new clients and re-engage existing ones[96]. - The Group is committed to expanding its VIP client base to boost revenue[97]. - The Group provides a range of services including securities dealing, brokerage, placing, underwriting, and asset management[92]. - The Group's securities dealing and brokerage services are licensed under Type 1, Type 4, and Type 9 regulated activities[93]. Shareholder Information - Ms. Hsieh Ching Chun holds 23,992,800 shares, representing 50.41% of the company's shareholding[179]. - Mega Wise Group Limited holds 6,000,000 shares, representing 12.60% of the company's shareholding[185]. - The issued share capital of CWIL is beneficially owned as to 30% by Mr. Fok and 70% by Ms. Hsieh[181]. - As of September 30, 2025, the total number of shares available for issue under the share option scheme is 4,000,000, representing approximately 8.40% of the issued shares of the Company[191]. Compliance and Governance - The unaudited financial statements are prepared in accordance with HKFRS Accounting Standards, ensuring compliance with regulatory requirements[27]. - The Group's policy for impairment allowance is based on the evaluation of collectability and management's judgment regarding creditworthiness and collateral[73]. - All Directors confirmed compliance with the Required Standard of Dealings throughout the reporting period[196].
高裕金融(08221) - 2026 - 中期财报