Financial Performance - For the six months ended September 30, 2022, the company reported a net loss of HKD 5,106,000 compared to a net loss of HKD 3,230,000 for the same period in 2021, representing a 58% increase in losses[8] - Total revenue for the period was HKD 107,000, a significant increase from HKD 11,000 in the previous year, marking a 872% growth[8] - Operating loss for the six months was HKD 5,100,000, compared to an operating loss of HKD 3,225,000 in the prior year, indicating a 58% increase in operating losses[8] - Basic and diluted loss per share for the period was HKD 0.0215, compared to HKD 0.0187 in the previous year, reflecting a 15% increase in losses per share[8] - The company recorded a loss of approximately HKD 5,106,000 for the six months ended September 30, 2022, compared to a loss of approximately HKD 3,230,000 for the same period in 2021, representing an increase in loss of about HKD 1,876,000[53] - The net investment loss for the period was approximately HKD 7,000, while the same period in the previous year reported a net investment gain of approximately HKD 474,000[53] - General and administrative expenses for the period amounted to approximately HKD 5,200,000, an increase of about HKD 1,490,000 compared to the same period last year, primarily due to increased legal and professional fees, director remuneration, and employee costs[53] Cash and Assets - Cash and cash equivalents at the end of the period were HKD 28,307,000, down from HKD 40,091,000 at the beginning of the period, reflecting a decrease of 29.4%[19] - Current assets totaled HKD 33,792,000, a decrease of 16.5% from HKD 40,544,000 as of March 31, 2022[10] - The company's net asset value was HKD 27,322,000, down from HKD 32,428,000, representing a decline of 15.8%[10] - As of September 30, 2022, the company's cash and bank balance was approximately HKD 28.3 million, down from HKD 40.1 million as of March 31, 2022[62] - The company reported a total of HKD 541,000 in deposits and other receivables as of September 30, 2022, compared to HKD 453,000 as of March 31, 2022, reflecting a 19.4% increase[39] Liabilities and Equity - Current liabilities decreased to HKD 6,472,000 from HKD 8,123,000, a reduction of 20.3%[10] - The company has a debt-to-asset ratio of approximately 0.1 as of September 30, 2022, consistent with the ratio as of March 31, 2022[62] - The company has drawn down HKD 4 million from loans provided by a controlling shareholder, with an outstanding loan amount of approximately HKD 4.015 million as of September 30, 2022[62][61] Investments - As of September 30, 2022, the company held investments in U.S. Treasury securities valued at HKD 4,944,000[32] - The company views U.S. Treasury bonds as a low-risk investment and will adjust its holdings based on market conditions[59] - The company’s investment in U.S. Treasury securities is viewed as a low-risk investment, providing stable interest income[35] - The company had approximately HKD 4,944,000 in U.S. Treasury securities measured at fair value, classified as Level 1 in the fair value hierarchy[45] Corporate Actions - The company did not declare an interim dividend for the period, consistent with the previous year[31] - The company has not reported any new product developments or market expansions during this period[21] - The company has not made any acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[59] - The company has not entered into any agreements for significant investments or capital assets during the period, but will consider future opportunities[77] - The company has no capital commitments or contingent liabilities as of September 30, 2022[70][72] - No significant capital expenditures were made during the period, consistent with the previous six months[76] - The company has not repurchased, sold, or redeemed any of its shares during the period[75] - The company will conduct feasibility studies for any potential investment opportunities that may arise in the future[77] Governance and Management - The company changed its name from "Youth Champ Financial Group Holdings Limited" to "Goldstone Capital Group Limited" effective August 19, 2022[91] - The company has complied with the corporate governance code as per the listing rules during the period[89] - There were changes in the board of directors, including new appointments and resignations effective from various dates in 2022[93] - The Audit Committee, consisting of three independent non-executive directors, reviewed the company's accounting principles and financial reporting matters[97] Economic Outlook - The company anticipates that the Hong Kong economy may recover in the third quarter of 2023 after the end of the interest rate hike trend[54] - The Hang Seng Index has recorded a decline of over 25% since the end of the second quarter of 2022 due to weak economic prospects and high borrowing costs[54] - The company’s management expects that the economic recovery in Hong Kong will depend significantly on interest rates in both Hong Kong and the United States[54] - The company’s management highlighted that the financial environment has tightened significantly due to rising interest rates, posing challenges across various sectors[54] Employee Costs - The company’s employee costs, excluding directors' remuneration, increased to HKD 1,484,000 from HKD 1,098,000, representing a 35.2% rise[30] - As of September 30, 2022, the company had 6 employees, with total employee compensation amounting to approximately HKD 1,614,000, an increase from HKD 1,207,000 in the previous six months[81]
金石资本集团(01160) - 2023 - 中期财报