Financial Performance - Total revenue for the three months ended December 31, 2022, was HKD 1,799,000, a decrease of 26.3% compared to HKD 2,441,000 for the same period in 2021[6] - The company reported a pre-tax loss of HKD 2,979,000 for the three months ended December 31, 2022, compared to a pre-tax loss of HKD 1,078,000 for the same period in 2021, representing an increase in loss of 176.5%[6] - Basic and diluted loss per share for the period was HKD 0.29, compared to HKD 0.11 for the same period in 2021, indicating a significant increase in loss per share[6] - The company reported a loss attributable to shareholders of HKD 2,979,000 for the three months ended December 31, 2022, compared to a loss of HKD 1,078,000 for the same period in 2021[21] - The group recorded a net loss of approximately HKD 3.0 million for the three months ended December 31, 2022, compared to a net loss of HKD 1.1 million for the same period in 2021[41] Employee Expenses - Employee benefit expenses increased to HKD 3,411,000 for the three months ended December 31, 2022, from HKD 2,605,000 in the same period of 2021, reflecting a rise of 30.9%[6] - Employee benefit expenses increased to approximately HKD 3.4 million, up by about HKD 0.8 million from HKD 2.6 million in the same period of 2021, primarily due to increased performance-related bonuses[38] Other Income and Expenses - Other income for the three months ended December 31, 2022, was HKD 216,000, compared to HKD 39,000 in the same period of 2021, showing a substantial increase[16] - The company incurred a net loss of HKD 841,000 from other income and expenses for the three months ended December 31, 2022, compared to a gain of HKD 26,000 in the same period of 2021[16] - Other income included bank interest income of approximately HKD 0.08 million and government subsidies of approximately HKD 0.03 million, while net losses from financial assets amounted to approximately HKD 1.0 million[37] - Other operating expenses for the three months ended December 31, 2022, were approximately HKD 0.4 million, a decrease of HKD 0.2 million from HKD 0.6 million in the same period of 2021[39] Equity and Capital - The company’s total equity as of December 31, 2022, was HKD 29,305,000, an increase from HKD 30,816,000 as of December 31, 2021[8] - The company raised HKD 9,675,000 through the issuance of shares during the period, contributing to the increase in total equity[8] - As of December 31, 2022, the group's equity investment portfolio had a total book value of approximately HKD 1.3 million, down from HKD 14.3 million as of September 30, 2022[43] - The group completed a placement of 100,000,000 new shares at HKD 0.10 per share on December 5, 2022, raising net proceeds of approximately HKD 9.7 million for general working capital[48] - The group will adopt a cautious approach to capital investments in light of ongoing global stock market volatility[47] Business Environment and Strategy - The company faced a challenging business environment due to the COVID-19 pandemic, the war between Russia and Ukraine, and rising interest rates by the US Federal Reserve[25] - The company is actively exploring and expanding new business areas, including asset management advisory services and securities trading advisory services[32] - The company has adopted a competitive pricing strategy while maintaining high-quality service to clients amid intense price competition in the corporate finance sector[29] - The company believes that its current underperformance is temporary and expects gradual improvement in performance as the pandemic recedes and travel restrictions ease[34] - The company’s financial performance indicates a need for strategic reassessment to address the significant increase in losses and declining revenues[6] Corporate Governance - The company has established an Audit Committee in compliance with GEM Listing Rules, focusing on financial reporting and risk management[62] - The Audit Committee, composed of three independent non-executive directors, reviewed the unaudited consolidated results for the three months ended December 31, 2022[64] - The company maintains compliance with the Securities and Futures Ordinance regarding shareholder disclosures[63] - The report was issued on February 13, 2023, indicating ongoing corporate governance practices[65] - The company is led by a diverse board of directors, including both executive and independent non-executive members[65] Dividends and Shareholder Information - The company has not declared any dividends for the three months ended December 31, 2022, consistent with the previous year[19] - The board did not recommend the declaration of a dividend for the three months ended December 31, 2022[42] - No major shareholders or other individuals were reported to have interests in the company's shares as of December 31, 2022[60] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[61] - As of December 31, 2022, Access Cheer holds 750,000,000 shares, representing 68.18% of the total shares[58] - China Economic Special Zone Development Limited and Standard Capital Group Limited each hold 100,000,000 shares, accounting for 9.09% of the total shares[58] Contractual Agreements - The company successfully secured 8 new corporate finance advisory contracts with a total contract value of approximately HKD 3.4 million during the three months ended December 31, 2022[29] - As of February 13, 2023, the total value of unfinished corporate finance advisory contracts reached approximately HKD 9.1 million, exceeding the revenue for the fiscal years ended September 30, 2021, and September 30, 2022[34] - The investment advisory services generated revenue of HKD 300,000 for the fiscal year ended September 30, 2022[30] Future Developments - The company has engaged legal advisors to prepare documentation for an equity investment fund, with negotiations expected to resume in early 2023[32] - The company has not disclosed any new product developments or market expansion strategies in the current report[64]
宝积资本(08168) - 2023 Q1 - 季度财报