Financial Performance - For the six months ended 30 June 2023, the Group reported revenue of approximately HK$20.9 million, representing an increase of approximately 13.5% compared to HK$18.4 million for the same period in 2022[4]. - The loss for the period attributable to owners of the Company was approximately HK$18.8 million, a decrease from approximately HK$25.3 million in the same period of 2022, primarily due to a reduction in depreciation and amortization[5]. - Revenue from the Financial Services Business for the six months ended June 30, 2023, was approximately HK$20.9 million, an increase from approximately HK$18.4 million for the same period in 2022[42]. - The Group's financial services business recorded revenue of approximately HK$20.9 million for the six months ended June 30, 2023, compared to HK$18.4 million for the same period in 2022, representing a growth of about 8.1%[45]. - Revenue generated from fund management services amounted to approximately HK$6.4 million for the six months ended June 30, 2023, compared to HK$5.3 million for the same period in 2022, marking an increase of approximately 20.8%[49]. - Revenue from corporate finance advisory services for the six months ended June 30, 2023, was approximately HK$1.1 million, up from HK$0.3 million for the same period in 2022, representing a 266.7% increase[68]. - Total revenue for the six months ended June 30, 2023, was HK$20,897,000, compared to HK$18,411,000 for the same period in 2022, reflecting a growth of 13.5%[174]. - Total comprehensive loss for the period was HK$18,755,000, compared to HK$25,274,000 for the same period in 2022, indicating a decrease of 25.9%[135]. - Basic and diluted loss per share attributable to owners of the Company was HK(1.32) cents, an improvement from HK(1.78) cents in the previous year[135]. Cash and Indebtedness - As at 30 June 2023, the Group's cash and cash equivalents amounted to approximately HK$118.0 million, down from approximately HK$124.1 million as of 31 December 2022[20]. - The Group's total indebtedness comprised promissory notes and lease liabilities of approximately HK$106.1 million, with a gearing ratio of 175.4% as at 30 June 2023, compared to 139.3% at the end of 2022[21]. - The Group's total debt was approximately HK$106.1 million as of June 30, 2023, down from approximately HK$110.4 million as of December 31, 2022, with a capital-to-debt ratio of 175.4%[22]. - The net decrease in cash and cash equivalents for the period was HK$6,156,000, an improvement from a decrease of HK$10,204,000 in the prior year[150]. - The company paid HK$1,172,000 in interest, a decrease from HK$5,610,000 in the same period of 2022, suggesting reduced debt servicing costs[150]. Asset Management - The Group's external asset management (EAM) services managed assets totaling approximately HK$4.1 billion as of June 30, 2023, up from approximately HK$3.8 billion as of December 31, 2022[43]. - Assets under external asset management reached approximately HK$4.1 billion as of June 30, 2023, up from HK$3.8 billion as of December 31, 2022, indicating an increase of approximately 7.9%[46]. - Revenue generated from EAM services during the six months ended June 30, 2023, amounted to approximately HK$12.7 million, compared to approximately HK$12.1 million for the same period in 2022[43]. - External asset management advisory commission income was HK$12,677,000 for the six months ended June 30, 2023, compared to HK$12,070,000 in 2022, marking a growth of 5.0%[177]. Investment Fund - As of June 30, 2023, the Group's investment in the Investment Fund was HK$72.0 million, accounting for approximately 71% of the total capital contribution of the Investment Fund[79]. - The fair value of the Investment Fund as of June 30, 2023, was approximately HK$24.1 million, which represented about 13.0% of the Group's total assets[79]. - The Group recorded a net unrealized loss on financial assets at fair value through profit or loss of approximately HK$5.4 million for the six months ended June 30, 2023, compared to a loss of approximately HK$1.9 million for the same period in 2022[79]. - The Group's share of unrealized fair value losses for the six months ended June 30, 2023, was approximately HKD 5,400,000, primarily from the bonds and shares of 合众威加 and 一元宇宙[82]. - The Group has been closely monitoring the liquidation process of the Investment Fund, which was initiated on February 22, 2022, to maximize returns for the Company and its shareholders[97]. Operational Efficiency - The Group will continue to review and adjust its strategies for the Financial Services Business to achieve corporate goals and develop future plans[40]. - The Group aims to broaden its customer base and support the continuous development of the external asset management business by leveraging stable relationships with financial institutions and a management team with extensive experience[48]. - The company’s cash used in operations improved significantly, indicating better operational efficiency and cost management[147]. - Staff costs for the six months ended June 30, 2023, were approximately HK$12.1 million, a slight decrease from approximately HK$12.6 million for the same period in 2022[35]. - The principal portion of lease payments decreased to HK$4,275,000 from HK$5,838,000 year-over-year, indicating a reduction in financing costs[150]. Governance and Compliance - The independent auditor provided a qualified conclusion in its review report for the six months ended June 30, 2023[105]. - The Group's financial reporting is in compliance with Hong Kong Accounting Standard 34, ensuring transparency and accuracy in financial disclosures[112]. - The Group continues to focus on maintaining compliance with relevant rules and regulations in its securities margin financing services[58]. - The management believes that the impact of the Audit Qualification will cease to exist by the end of 2023 if the Investment Fund can realize its Bonds and distribute proceeds to the Group[100]. Management Changes - Dr. MA Weihua resigned as the non-executive Director and chairman of the Company effective September 1, 2023[106]. - Dr. Ma Weihua has resigned as a non-executive director and chairman effective September 1, 2023[110].
贝森金融(00888) - 2023 - 中期财报