Financial Performance - The total revenue for the fiscal year ending March 31, 2023, was approximately HKD 36.9 million, a decrease of 2.9% compared to the previous year[11]. - The net profit attributable to shareholders decreased to approximately HKD 12.0 million, primarily due to a reduction in commission and brokerage income from securities trading[11]. - Commission income from the brokerage business decreased by approximately 43.5% to about HKD 7.6 million, accounting for approximately 20.5% of total revenue[13]. - Interest income from margin financing services increased by approximately 26.3% to about HKD 27.8 million, representing approximately 75.5% of total revenue[14]. - The total market fundraising amount for the fiscal year was HKD 207,078 million, a decrease of 64.8% year-on-year[10]. - The total turnover in the securities market decreased by 25.4% to HKD 30,727,191 million compared to the previous year[10]. - Total revenue for the year was approximately HKD 36.9 million, a decrease of about 2.9% from HKD 38.0 million in 2022[18]. - Net profit for the year was approximately HKD 12.0 million, a decrease of about 6.3% from HKD 12.8 million in the previous year[20]. Cost Management and Operational Strategy - The company plans to continue prudent capital management to maintain a solid liquidity position amid future challenges[7]. - The company will continue to control operating costs in a challenging investment environment to create long-term benefits for shareholders[7]. - In an unfavorable investment environment, the group will focus on controlling operational costs to improve cost efficiency and profitability[44]. - Other operating expenses decreased by approximately 25.5% to about HKD 5.8 million, down from HKD 7.8 million in 2022[19]. Shareholder and Dividend Information - The board does not recommend the distribution of a final dividend for the year under review[43]. - The company did not recommend any dividend payment for the review year, consistent with the previous year where no dividends were paid[63]. - As of March 31, 2023, the company's distributable reserves were approximately HKD 59.8 million, down from HKD 62.0 million in 2022[82]. Corporate Governance - The company emphasizes good corporate governance as a framework for effective management and shareholder value enhancement[139]. - The company has adopted a standard code for securities trading by directors, ensuring compliance throughout the review year[153]. - The board consists of six directors, including one non-executive director, two executive directors, and three independent non-executive directors[142]. - The board has confirmed adherence to the corporate governance code throughout the review year[141]. - The company has established a clear process for the appointment, re-election, and removal of directors, requiring one-third of directors to retire at each annual general meeting[150]. Risk Management and Internal Controls - The board is responsible for ensuring effective risk management and internal control systems, which aim to manage rather than eliminate risks associated with achieving business objectives[187]. - The company engaged an independent internal audit service provider to assess the effectiveness of its risk management and internal control systems, with audits conducted annually covering key operational areas[188]. - The board and audit committee believe that the company's risk management and internal control procedures are effective and adequate, with no significant internal control deficiencies identified[188]. Market Position and Future Outlook - The management remains optimistic about the company's prospects, citing Hong Kong's status as a leading financing center and stock market[7]. - The group believes that Hong Kong's financial services industry will maintain its global leading position due to its strong historical foundation, good reputation, supportive policies, and excellent professional talent[44]. - The company aims to explore new collaboration opportunities with other financial service providers to expand its customer base[7]. - The group plans to leverage management team's knowledge and experience to explore new collaborations with other financial service providers and expand its customer base[44]. Employee and Staffing Information - The company employed 15 staff members as of March 31, 2023, unchanged from the previous year, with employee costs approximately HKD 10.4 million, a slight decrease from HKD 10.7 million in 2022[86][88]. Shareholder Rights and Meetings - Shareholders holding at least 10% of the paid-up capital have the right to request the board to convene a special general meeting within two months of the request[198]. - Shareholders can submit written requests to the board and company secretary to propose specific business for discussion at the general meeting, along with supporting documents[199].
富石金融(02263) - 2023 - 年度财报