Financial Performance - For the year ended March 31, 2023, the Group's revenue was approximately HK$337.0 million, a decrease of 5.0% from HK$354.8 million in the previous year[81]. - The Group's profit attributable to owners for the year was approximately HK$149.8 million, down from HK$466.9 million in 2022, primarily due to the absence of gains from the sale of subsidiaries[84]. - Basic earnings per share decreased to HK6 cents from HK19 cents in 2022, reflecting a decline in profit during the year[82]. - The decrease in revenue was mainly due to a reduction in brokerage commission by HK$21.7 million and a decrease in interest income from margin financing by HK$23.7 million[81]. - The Group recorded a net impairment loss on receivables from margin clients of HK$92.1 million, compared to HK$130.1 million in 2022[84]. - The total remuneration cost for employees was HK$21.8 million for the year, down from HK$24.5 million in 2022, with a reduction in full-time employees from 76 to 64[118]. - The Group's total revenue for the year was approximately HK$337 million, a decrease of 5.0% from HK$354.8 million in the previous financial year[101]. Shareholder Information - A final dividend of HK$0.03 per share is proposed for shareholders on the register as of September 1, 2023[41]. - As of March 31, 2023, the reserves available for distribution to shareholders were approximately HK$2,153,246,000, a slight decrease from HK$2,155,869,000 in 2022[63]. - The Directors recommended a final dividend of HK3 cents per share, resulting in total dividends of HK6 cents per share for the financial year[118]. Corporate Governance - The company has established three Board Committees to delegate various responsibilities, ensuring effective governance and oversight[174]. - The Board has met the requirements of the Listing Rules regarding the appointment of independent non-executive directors, maintaining at least three such directors[175]. - The company has implemented measurable objectives to enhance board diversity, with a review process in place to assess progress annually[179]. - The company has a strong focus on compliance with corporate governance practices, adhering to the Corporate Governance Code throughout the fiscal year[173]. - The company expresses gratitude to its clients and shareholders for their continued support, highlighting the dedication of its management and staff[180]. - The Board believes that good corporate governance is crucial for maintaining and promoting investor confidence[196]. - The company has complied with the Corporate Governance Code during the year ended 31 March 2023[197]. - The Board oversees the implementation of policies, strategies, and plans to ensure the healthy growth of the company[198]. Management and Directors - The Directors during the year included Mr. Shum Kin Wai, Frankie (Managing Director) and Mr. Hung Sui Kwan (Chief Executive Officer)[66]. - Mr. Shum Kin Wai, the executive director and managing director, has over 36 years of experience in the securities business[182]. - Mr. Hung Sui Kwan, the chief executive officer, is responsible for overall corporate strategy and daily operations, having joined GN Holdings in August 2000[182]. - Ms. Ng Yau Kuen, an independent non-executive director, has 14 years of experience at PricewaterhouseCoopers and holds multiple degrees in business administration and law[185]. - Mr. Ng Hon Sau, the chief operating officer, has over 30 years of experience in the financial industry, focusing on securities and futures broking[189]. - The company has a senior management team that supports the Board in discharging its responsibilities, ensuring effective management and administration[174]. - The management team has extensive experience in the financial services industry, with key personnel holding relevant qualifications and expertise[160][161][162][163]. Business Operations - The principal activities of the Group include securities dealing, futures and options broking, underwriting, and asset management services[40]. - The Group's interest revenue from bank balances and time-deposits increased by HK$27.2 million during the year[81]. - The corporate finance business completed 4 financial advisory transactions in the year ended March 31, 2023, maintaining the same number as the previous year, and reported a segment profit of approximately HK$1.3 million, down from HK$2.4 million in 2022[136]. - The asset management division reported a profit of approximately HK$1.6 million for the year, down from HK$2.1 million in 2022, primarily due to asset management-related income of approximately HK$1.9 million[136]. - The Group's investment portfolio had a total fair value of approximately HK$18.4 million as of March 31, 2023, a decrease from HK$55.9 million in 2022, resulting in a loss of approximately HK$4.5 million for the year[136]. Market Conditions - The local stock market experienced a sharp correction, with the Hang Seng Index reaching a low of 14,687 on October 31, 2022, the lowest since April 2009[87]. - Investor sentiment improved towards the end of 2022 due to expectations of slower US interest rate hikes and the easing of pandemic-related restrictions in Mainland China[87]. - The performance of the Hong Kong market was largely in line with major overseas markets during the year[87]. - The average daily turnover on the Main Board and GEM during the year was approximately HK$120.5 billion, a decrease of 18.0% compared to approximately HK$147.0 billion in the prior financial period[105]. - The Hang Seng Index closed at 20,400 points at the end of March 2023, down from 21,996 points at the end of March 2022[105]. - The global economic recovery remains uneven, hindered by factors such as US interest rate hikes, inflation, and geopolitical tensions, particularly the ongoing Russia-Ukraine conflict[139]. Risk Management - The company emphasizes risk management and internal controls as part of its overall strategy to drive sustainable growth[173]. - The company has a strong focus on risk management systems and internal controls[198]. - The Group's business activities are not exposed to significant exchange risks, and there were no material contingent liabilities at the end of the year[117].
结好金融(01469) - 2023 - 年度财报