Financial Performance - For the three months ended June 30, 2023, the company recorded an unaudited revenue of approximately HKD 9,900,000, a decrease of about 13.9% compared to HKD 11,500,000 for the same period in 2022[4] - The unaudited profit attributable to owners of the company for the same period was approximately HKD 4,100,000, compared to HKD 3,900,000 in the previous year[4] - Basic and diluted earnings per share for the period were approximately HKD 0.19, up from HKD 0.18 for the same period in 2022[4] - The company reported a pre-tax profit of HKD 4,819,211, compared to HKD 5,167,037 in the prior year[5] - The total comprehensive income attributable to owners for the period was HKD 4,369,985, compared to HKD 3,275,228 in the same period last year[5] - The company's profit attributable to owners for the three months ended June 30, 2023, was HKD 4,083,982, compared to HKD 3,866,789 for the same period in 2022, reflecting an increase of approximately 5.6%[19] - The company recorded a profit attributable to owners of approximately HKD 4,100,000 for the three months ended June 30, 2023, compared to HKD 3,900,000 for the same period in 2022, representing an increase of about 5.13%[30] - Earnings per share for the three months ended June 30, 2023, was approximately HKD 0.19, up from HKD 0.18 for the same period in 2022, indicating a growth of 5.56%[30] Expenses and Losses - Administrative expenses increased to HKD 4,613,990 from HKD 3,904,613 year-on-year[5] - The net loss from financial assets measured at fair value through profit or loss was HKD 693,996, compared to a loss of HKD 6,700,068 in the previous year[5] - Total operating expenses increased by approximately 18.2% to HKD 4,600,000 from HKD 3,900,000 in the same period last year[29] - The company’s interest income from loans and financing activities was approximately HKD 4,100,000, down from HKD 7,400,000 in the same period last year[26] - The administrative expenses increased due to higher trading volumes, impacting costs related to central clearing system fees and commission payments[29] Revenue Sources - The total revenue and investment income for the three months ended June 30, 2023, was approximately HKD 9,800,000, an increase of about 6.1% or HKD 600,000 compared to approximately HKD 9,200,000 for the same period in 2022[23] - Commission and brokerage fees from securities trading amounted to approximately HKD 1,000,538, a decrease of about 20.5% from HKD 1,258,602 in the same period last year[13] - Interest income from cash and margin clients increased by approximately 75.1% to HKD 3,339,545 from HKD 1,907,413 year-on-year[24] - The total trading volume for securities transactions increased by approximately 8.0% to HKD 18,224,000,000 from HKD 16,878,600,000 year-on-year[24] Equity and Shareholder Information - The company’s total equity as of June 30, 2023, was HKD 199,612,709, a decrease from HKD 201,078,195 a year earlier[6] - Major shareholder Zillion Profit Limited holds 1,500,000,000 shares, representing 68.18% of the company's total issued share capital[46] - The total number of options granted but not exercised under the previous share option plan was 80,000,000 shares, all of which were canceled as of June 30, 2023[39] - As of June 30, 2023, the company has not granted any unexercised share options to directors, totaling 60,000,000 options that were not exercised during the period[44] Corporate Governance - The company has established an audit committee to review and supervise its financial reporting procedures and internal controls, consisting of three independent non-executive directors[56] - The company has complied with all corporate governance code provisions as per GEM Listing Rules, with a noted deviation regarding the separation of roles between the chairman and the CEO[52] - The company has not established a chairman position, with daily operations managed by the CEO and executive directors[53] - No competitive business interests were reported by directors or major shareholders that could conflict with the company's operations during the three months ending June 30, 2023[49] - The company has confirmed that all directors adhered to the prescribed trading rules during the three months ending June 30, 2023[51] - The company plans to elect a new chairman when appropriate[54] - The company has not disclosed any other individuals with significant interests in its shares or related securities as of June 30, 2023[47] Business Strategy and Outlook - The company continues to focus on its core business of providing securities, futures, and options brokerage services, as well as margin and loan financing services[9] - The group has no major investment or acquisition plans as of June 30, 2023, but will actively seek investment opportunities to enhance profitability[31] - The outlook suggests that the peak of the U.S. interest rate cycle is favorable for the development of the Hong Kong property and stock markets, despite global economic challenges expected in 2023[32] - The company aims to expand its client base and strengthen its trading platform to develop its brokerage and underwriting businesses[32] - The company is committed to exploring potential business opportunities to generate new revenue sources and further enhance profitability[34] - The company will continue to expand its margin and loan financing business as well as its securities advisory services to meet customer needs[32] Share Option Plan - The new share option plan allows for the grant of options up to a total of 220,000,000 shares, which is equivalent to 10% of the total shares in issue as of June 30, 2023[35] - The fair value of the options granted under the new share option plan was calculated to be HKD 8,275,000 based on various assumptions including a volatility of 55.019% and a risk-free rate of 2.106%[41] Dividend Policy - The board of directors did not recommend the payment of an interim dividend for the three months ended June 30, 2023, consistent with the previous year[4] - The company did not recommend the distribution of an interim dividend for the three months ended June 30, 2023[17] Securities Transactions - No purchases, sales, or redemptions of the company's listed securities occurred during the three months ending June 30, 2023[48]
昌利控股(08098) - 2024 Q1 - 季度财报