Financial Performance - Revenue for the three months ended December 31, 2021, was HKD 2,441,000, compared to HKD 1,050,000 for the same period in 2020, representing a 132% increase[11]. - The company reported a pre-tax loss of HKD 1,078,000 for the three months ended December 31, 2021, compared to a pre-tax loss of HKD 914,000 for the same period in 2020[11]. - Basic and diluted loss per share for the period was HKD 0.11, compared to HKD 0.09 for the same period in 2020[11]. - The company reported a net loss attributable to ordinary shareholders of HKD 1,078,000 for the period, compared to a net loss of HKD 914,000 in the previous year[11]. - The total comprehensive loss for the period was HKD 1,078,000, compared to HKD 914,000 for the same period in 2020[11]. - The company reported a loss attributable to shareholders of HKD 1,078,000 for the three months ended December 31, 2021, compared to a loss of HKD 914,000 in the same period of 2020, indicating an increase in loss of approximately 17.9%[32]. - The net loss for the three months ended December 31, 2021, was approximately HKD 1.1 million, compared to a net loss of HKD 0.9 million for the same period in 2020[54]. Operating Expenses - Employee benefit expenses decreased to HKD 2,605,000 from HKD 4,533,000 year-on-year, reflecting a 42% reduction[11]. - Other operating expenses decreased to HKD 563,000 from HKD 698,000 year-on-year, indicating a 19% reduction[11]. - Financial costs decreased to HKD 19,000 from HKD 25,000 year-on-year, showing a 24% reduction[11]. - Employee benefit expenses were approximately HKD 2.6 million, a decrease of about HKD 1.9 million compared to HKD 4.5 million for the same period in 2020, primarily due to a reduction in performance-related bonuses[49]. - Other operating expenses for the three months ended December 31, 2021, were approximately HKD 0.6 million, a slight decrease from HKD 0.7 million for the same period in 2020[50]. Income and Revenue Sources - The company recognized other income of HKD 26,000 for the three months ended December 31, 2021, down from HKD 3,650,000 in the same period of 2020[11]. - The company generated advisory fee income of HKD 2,441,000, up from HKD 1,050,000 in the previous year, marking a 132% increase[22]. - Revenue from corporate finance advisory services increased by nearly 118.2% for the three months ended December 31, 2021, compared to the same period last year, indicating significant improvement in performance[39]. - Other income included bank interest income of approximately HKD 0.02 million and dividend income of approximately HKD 0.02 million[48]. Market and Investment Performance - The company achieved a total return of approximately HKD 6.6 million from an initial capital of HKD 12 million in its equity investment fund, resulting in a return rate of about 55.0% since the first investment date[41]. - The Hang Seng Index declined by approximately 10.5% from 26,129.93 points on February 28, 2020, to 23,397.67 points on December 31, 2021, while the company outperformed the market during the same period[41]. - The company anticipates continued volatility in the stock market and will adopt a prudent approach to securities trading investment decisions[60]. - As of December 31, 2021, the company held an equity investment portfolio with a total book value of approximately HKD 21.6 million, compared to HKD 21.2 million as of September 30, 2021[56]. Corporate Governance and Shareholding - As of December 31, 2021, the beneficial owner of Access Cheer Limited holds 750,000,000 shares, representing 75% of the total issued share capital[73]. - Ms. Xie holds a controlled corporation interest in Access Cheer Limited, which is considered as owning the shares held by Access Cheer[70]. - Mr. Lin, as Ms. Xie's spouse, is deemed to have an interest in the shares held by Ms. Xie[71]. - No other directors or senior management held any interests or short positions in the company's shares or related securities as of December 31, 2021[74]. - No major shareholders or other individuals held any interests recorded in the company's register as of December 31, 2021[78]. Dividend Policy - The company did not declare any dividends for the three months ended December 31, 2021, consistent with the previous year[29]. - The company did not recommend the declaration of any dividends for the three months ended December 31, 2021[55]. Audit and Compliance - The audit committee has reviewed the unaudited consolidated results for the three months ended December 31, 2021[82]. - The audit committee consists of three independent non-executive directors, ensuring compliance with GEM listing rules[80]. - The company has established an audit committee in accordance with GEM listing rules, focusing on financial reporting and risk management[80]. - The report was issued on February 8, 2022, by the executive directors including Mr. Lin, who is also the CEO[82]. Business Environment - The company faced challenges in its business environment due to the ongoing COVID-19 pandemic and economic uncertainties, impacting its operational opportunities[36]. - The company has adopted a competitive pricing strategy in the corporate finance advisory sector to maintain high-quality service amidst severe price competition[39]. - The company has not made any tax provisions for Hong Kong profits tax for the three months ended December 31, 2021, as there were no taxable profits[28]. - The company believes that its future performance will depend on the recovery speed from the current pandemic and the successful implementation of its business plans and strategies[47].
宝积资本(08168) - 2022 Q1 - 季度财报