Financial Performance - Total revenue for the six months ended December 31, 2022, was HKD 18,855,000, a decrease of 50.5% compared to HKD 38,012,000 for the same period in 2021[10]. - The company reported a loss before tax of HKD 46,350,000, compared to a loss of HKD 24,509,000 in the previous year, representing an increase in losses of 89.1%[10]. - Basic and diluted loss per share was HKD 6.30, compared to HKD 3.65 in the prior year, indicating a 72.9% increase in loss per share[10]. - The company recorded a net loss of HKD 67,064,000 for the period, compared to a net loss of HKD 22,046,000 in the previous year, marking an increase in total comprehensive loss of 204.5%[13]. - The company reported a total comprehensive loss of HKD 66,720,000 for the period ending December 31, 2022, compared to a loss of HKD 21,807,000 for the same period in 2021, indicating a significant increase in losses[17]. - The cash flow from operating activities showed a net outflow of HKD 20,547,000 for the six months ending December 31, 2022, a decline from a net inflow of HKD 96,321,000 in the previous year[20]. - The group recorded a post-tax loss of HKD 46 million in the first half of the 2023 fiscal year, compared to a loss of HKD 26 million in the same period of 2022[94]. - Total comprehensive expenses for the first half of the 2023 fiscal year amounted to HKD 66 million, up from HKD 22 million in the first half of 2022[94]. Asset and Liability Management - Non-current assets decreased from HKD 587,537,000 as of June 30, 2022, to HKD 513,002,000 as of December 31, 2022, a decline of 12.6%[15]. - Total assets decreased from HKD 1,078,165,000 to HKD 977,659,000, reflecting a reduction of 9.3%[15]. - The company’s total equity attributable to shareholders decreased to HKD 835,981,000 as of December 31, 2022, from HKD 963,086,000 at the end of 2021[17]. - The company’s total reserves decreased to HKD 762,942,000 as of December 31, 2022, down from HKD 891,141,000 at the end of 2021[18]. - The company reported a decrease in bank balances and cash, which amounted to HKD 177,254,000, down from HKD 199,346,000 in the previous year[20]. - The company’s total other payables and accrued liabilities amounted to HKD 478,111,000 as of December 31, 2022, down from HKD 591,509,000 on June 30, 2022, a decrease of approximately 19.2%[65]. - The total amount of secured borrowings was approximately HKD 66 million, funding the group's investment portfolio[108]. Revenue Sources - Commission and fee income from brokerage services decreased to HKD 3,649,000, down 66.2% from HKD 10,802,000 year-on-year[34]. - Corporate finance income dropped to HKD 2,485,000, a decline of 82.3% compared to HKD 14,020,000 in the previous year[34]. - Interest income from bank deposits increased significantly to HKD 3,981,000, up from HKD 297,000, marking a growth of 1,239.4%[34]. - The total income from contract customers was HKD 8,145,000, with significant contributions from brokerage services and corporate finance[37]. - The brokerage and lending department's total revenue decreased to HKD 12 million in the first half of 2023 from HKD 20 million in the same period of 2022[97]. - The corporate finance and capital markets department's total revenue fell to HKD 3 million in the first half of 2023 from HKD 14 million in the same period of 2022[98]. - The asset management department's total revenue was HKD 2 million in the first half of 2023, down from HKD 3 million in the same period of 2022[99]. Investments and Future Plans - The company plans to continue focusing on its core values to drive future business growth[5]. - The company has committed to invest RMB 330 million in a joint venture in Chongqing, China, which will focus on regulated securities brokerage and asset management services[74]. - The company is actively pursuing market expansion in Southeast Asia, with plans to open three new offices by the end of the fiscal year[139]. - The firm has introduced a new asset management product, which has already attracted HKD 300 million in investments within the first month of launch[139]. - The company is exploring the promotion of investment funds focused on Vietnam to generate additional revenue[99]. Market Conditions and Economic Impact - The average monthly total turnover on the main board and GEM decreased by 23% to HKD 235.6 billion in the first half of the fiscal year 2023, down from HKD 306.9 billion in the same period of fiscal year 2022[93]. - The local GDP in Hong Kong contracted by 4.2% year-on-year in Q4 2022, following a 4.6% decline in Q3 2022[93]. - The geopolitical tensions between the US and China remain a concern, impacting market conditions[105]. Corporate Governance and Compliance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules and confirmed compliance during the review period[122][128]. - The audit committee reviewed the financial reporting and risk management systems, ensuring compliance with accounting principles[130]. - The independent review report confirmed that the interim financial information complies with Hong Kong Accounting Standards[134].
新华汇富金融(00188) - 2023 - 中期财报