Financial Performance - For the fiscal year ending September 30, 2022, the group's revenue was approximately HKD 7.7 million, compared to HKD 5.6 million in 2021, representing a year-over-year increase of about 37.5%[23] - The loss attributable to equity shareholders was approximately HKD 9.3 million for the fiscal year, slightly improved from a loss of HKD 9.4 million in the previous year[23] - The company's revenue for the year ended September 30, 2022, was approximately HKD 7.7 million, an increase of about 37.5% compared to HKD 5.6 million in the previous year, primarily due to an increase in institutional financing advisory transactions[40] - The institutional financing advisory services generated a total of approximately HKD 6.9 million in outstanding contract fees as of December 20, 2022, representing about 123.2% and 89.6% of the revenues for the fiscal years ended September 30, 2021, and 2022, respectively[38] - The company achieved a significant improvement in its corporate finance advisory services, with revenues growing nearly 33.7% for the year ended September 30, 2022[33] - The company reported a net loss of approximately HKD 9.3 million for the year ended September 30, 2022, compared to a net loss of about HKD 9.4 million for the year ended September 30, 2021[49] Impact of COVID-19 - The group faced adverse impacts from the COVID-19 pandemic, including the fifth wave outbreak in Hong Kong and lockdowns in major Chinese cities, which limited business opportunities and reduced transaction volumes[28] - The board noted that several significant transactions pursued by the group were delayed or canceled due to tightened measures in Hong Kong and the pandemic's impact on clients[29] - The group is optimistic about future business prospects as the Hong Kong government significantly relaxed pandemic measures in September 2022, and the Chinese government began easing restrictions in December 2022[29] Cash and Liquidity - As of September 30, 2022, the group's cash and cash equivalents were approximately HKD 17.5 million, down from HKD 18.9 million in 2021[51] - The current ratio was approximately 3.2 times as of September 30, 2022, compared to 3.9 times in 2021[51] - The debt-to-equity ratio increased to approximately 48.0% in 2022 from 31.8% in 2021[51] - The group pledged approximately HKD 14.3 million of listed stocks for loans as of September 30, 2022, down from HKD 21.2 million in 2021[56] - The total value of the equity investment portfolio was approximately HKD 14.3 million as of September 30, 2022, compared to HKD 21.2 million in 2021[62] Corporate Governance - The board is committed to maintaining high corporate governance standards and has complied with all provisions of the GEM Listing Rules throughout the year[93] - The board consists of five executive directors and three independent non-executive directors, ensuring a balanced composition[96] - The company has adopted a dividend policy that requires maintaining sufficient reserves to meet current and future operational and capital requirements[102] - The nomination committee has been established to review the board's structure and composition, ensuring diversity and independence among directors[103] - The company has achieved most measurable targets under its board diversity policy during the year[104] - The Nomination Committee held one meeting during the fiscal year ending September 30, 2022, to consider the re-election of directors and to review the board's structure and composition[107] - The Remuneration Committee, consisting of three members, reviewed the company's remuneration policy and the compensation of executive directors and senior management during one meeting in the fiscal year ending September 30, 2022[112] - The Audit Committee conducted four meetings in the fiscal year ending September 30, 2022, to discuss the reappointment of external auditors and to review the financial statements for the year ended September 30, 2021, and the unaudited financial statements for the three, six, and nine months ending December 31, 2021, March 31, 2022, and June 30, 2022, respectively[115] Risk Management - The company faces significant risks including reliance on key authorized personnel, potential client withdrawals, defaults, and adverse economic conditions affecting financial service transactions[90] - The group has established a risk management system to balance client interests with the safety and soundness of the group[139] - The audit committee reviewed the risk management and internal control systems for the year ended September 30, 2022, and found them sufficient and effective in financial, operational, and compliance controls[143] - The company has not identified any significant control deficiencies based on the risk management and internal control review conducted during the year[144] Employee and Training - Employee benefit expenses for the year ended September 30, 2022, were approximately HKD 8.0 million, a decrease of about HKD 2.5 million from HKD 10.5 million in the previous year[42] - The group employed 13 staff members as of September 30, 2022, down from 16 in 2021[89] - The company views employees as a valuable asset and adheres to labor laws, providing good benefits and ongoing professional training[194] - The company secretary has completed over 15 hours of relevant professional training to update skills and knowledge as required by GEM listing rules[150] Shareholder Communication - The board has established a shareholder communication policy to maintain ongoing dialogue with shareholders and investor groups, ensuring timely access to publicly available information[145] - The company allows shareholders holding at least 10% of the paid-up capital to request a special general meeting within two months of submission[148] Donations and Social Responsibility - The group made donations totaling approximately HKD 0.3 million during the year, down from HKD 0.5 million in 2021[185] Miscellaneous - The company did not recommend the declaration of a final dividend for the year ended September 30, 2022[50] - The group did not have any significant capital commitments or contingent liabilities as of September 30, 2022[59] - The group did not have any specific major investment or capital asset plans as of September 30, 2022[57] - The company has not purchased, sold, or redeemed any of its listed shares during the year[131] - The group reported no issuance of debt securities for the year ended September 30, 2022[184] - The financial performance and position of the group as of September 30, 2022, are detailed in the consolidated financial statements on pages 69 to 71[173] - The group’s reserves underwent changes as detailed in the consolidated statement of changes in equity on page 72[178] - The company has complied with all relevant laws and regulations with no significant violations reported for the fiscal year ending September 30, 2022[193] - The board is responsible for the group's environmental, social, and governance (ESG) strategy and reporting, ensuring compliance with ESG risk management and internal control systems[192] - The remuneration policy for executive directors is based on skills, knowledge, performance, and market conditions[127] - The company has delegated its internal audit function to an independent external verification provider[140] - The board regularly reminds management of the GEM listing rules regarding the handling and disclosure of inside information[140] - The external auditor's fee for audit services provided to the group for the year ended September 30, 2022, was HKD 250,000[124] - The board confirmed its responsibility for preparing the consolidated financial statements for the year ended September 30, 2022, ensuring they reflect the group's financial position fairly and accurately[125] - The group maintained a public float of at least 25% of its total issued shares as required by GEM listing rules[128] - The company has a diverse board with members holding various professional qualifications and extensive experience in finance and corporate governance[159] - The total distributable reserves as of September 30, 2022, amounted to approximately HKD 12.6 million, a decrease from HKD 21.9 million in 2021[179] - The top five customers contributed approximately 65.0% of total revenue for the year ended September 30, 2022, compared to 56.3% in 2021[186] - The largest customer accounted for about 19.4% of total revenue in the year ended September 30, 2022, up from 18.3% in 2021[186] - The company adopted a share option scheme in February 2018, but no options have been granted under the scheme since its adoption[200]
宝积资本(08168) - 2022 - 年度财报