Acquisitions - The company completed two acquisitions in June 2022, acquiring 70% of FGA Holdings Limited and 60% of First Achiever Ventures Limited, which have already started contributing significant revenue and profit [12]. - The acquisition of First Achiever Ventures Limited was completed on June 6, 2022, for a total consideration of 3,000,000 USD, focusing on developing a smart digital sales platform [158]. - The company acquired 70% of FGA Holdings Limited for a total consideration of 35,000,000 USD (approximately 271,600,000 HKD), completed on June 6, 2022 [167]. - The identifiable net assets acquired from FGA Holdings amounted to HKD 296,961,000, with goodwill of HKD 228,298,000 recognized in the acquisition [177]. - First Achiever Group contributed revenue of 2,101,000 HKD and a net loss of 1,603,000 HKD since the acquisition date [164]. - The company’s total identifiable net assets acquired from First Achiever Group were valued at 15,948 thousand HKD [164]. Financial Performance - The company reported revenue of HKD 97,137,000 for the six months ended September 30, 2022, compared to HKD 63,760,000 for the same period in 2021, representing a year-over-year increase of 52.3% [25]. - Total revenue for the six months ended September 30, 2022, was HKD 97,137 million, an increase from HKD 63,760 million in the same period of 2021, representing a growth of approximately 52.2% [86]. - The company recorded a pre-tax profit of HKD 4,463,000, a significant recovery from a pre-tax loss of HKD 12,028,000 in the prior year [25]. - The net profit for the period was HKD 2,586,000, compared to a net loss of HKD 13,358,000 in the same period last year [27]. - The company reported a basic and diluted earnings per share of HKD 0.04, recovering from a loss of HKD 0.22 per share in the prior year [27]. - The company recorded a profit of approximately HKD 2,600,000 for the six months ended September 30, 2022, compared to a loss of approximately HKD 13,400,000 in the same period last year [200]. Revenue Breakdown - Securities brokerage commission income decreased by 53.1%, while total revenue slightly increased by approximately 1.3% to about HKD 15,500,000 for the six months ended September 30, 2022, compared to HKD 15,300,000 in the previous year [13]. - The insurance brokerage segment processed over 650 new policies for 985 clients, accumulating an annualized first-year premium of over HKD 98,000,000, up from HKD 78,900,000 in the previous year [16]. - The insurance brokerage service revenue increased to HKD 29,665 million from HKD 25,442 million year-on-year, reflecting a growth of approximately 8.7% [86]. - The fur business generated approximately HKD 8,700,000 in revenue, representing a 26% increase or HKD 1,800,000 compared to the same period last year [18]. - The lending segment contributed approximately HKD 15,700,000 in revenue and HKD 15,800,000 in profit, compared to HKD 12,000,000 and HKD 12,100,000 in the previous year, reflecting a significant increase [194]. - The asset management service revenue was HKD 2,504 million, down from HKD 4,073 million in the previous year, indicating a decline of approximately 38.7% [86]. Cash Flow and Assets - The net cash generated from operating activities for the six months ended September 30, 2022, was HKD 71,415,000, compared to a net cash used of HKD 233,549,000 in the previous year [36]. - The company reported a net cash outflow from investing activities of HKD 44,486,000 for the six months ended September 30, 2022, compared to HKD 106,345,000 in the previous year [36]. - The financing activities resulted in a net cash outflow of HKD 11,891,000 for the six months ended September 30, 2022, contrasting with a net inflow of HKD 467,353,000 in the previous year [36]. - The company’s total assets as of September 30, 2022, were HKD 1,110,967,000, an increase from HKD 849,182,000 as of March 31, 2022 [29]. - The cash and cash equivalents as of September 30, 2022, were HKD 139,549,000, down from HKD 170,706,000 a year earlier [36]. - The company’s total liabilities included a significant amount of HKD 337,613,000 as of September 30, 2022 [34]. Expenses and Liabilities - Administrative expenses increased by approximately 42.9% to about HKD 69,300,000, up from HKD 48,500,000 in the previous year, primarily due to administrative costs from two newly acquired businesses [196]. - The total tax expense for the six months ended September 30, 2022, was HKD 1,877,000, an increase from HKD 1,330,000 in the same period of 2021 [96]. - The company’s total liabilities included trade and other payables of 4,170 thousand HKD related to the acquisition of First Achiever Group [164]. - The total segment liabilities amounted to HKD 693,005 million, with the securities segment accounting for HKD 223,354 million [81]. Market Outlook and Strategy - The company anticipates continued growth in its debt issuance business due to strong demand for capital [21]. - The newly acquired membership business is expected to become a new revenue driver for the group, aiding diversification in Hong Kong and China [21]. - The company plans to continue its market expansion and product development strategies in the upcoming quarters [34]. - The group aims to leverage the reputation of the Forbes brand through the acquisition of FGA Group to enhance its position as a reliable provider of quality financial services [171].
京基金融国际(01468) - 2023 - 中期财报