Financial Performance - Total revenue for Q1 2022 was HK$1,592,000, a decrease of 10.8% compared to HK$1,785,000 in Q1 2021[10] - Commission income from securities dealing and brokerage services was HK$355,000, down 56.2% from HK$810,000 in the previous year[10] - Interest income from margin, loan financing, and money lending services increased by 20% to HK$1,142,000 from HK$952,000[10] - Loss before tax for Q1 2022 was HK$3,896,000, an improvement from a loss of HK$4,994,000 in Q1 2021[10] - Basic loss per share for Q1 2022 was HK$0.19, compared to HK$0.25 in Q1 2021[10] - Total comprehensive loss attributable to owners of the Company for Q1 2022 was HK$3,896,000, compared to HK$4,994,000 in the same period last year[10] - For the three months ended June 30, 2022, the Group reported a loss attributable to owners of the Company of HK$3,896,000, compared to a loss of HK$4,994,000 for the same period in 2021, representing a decrease of approximately 22.0%[53] - The loss for the period was approximately HK$3,896,000, an improvement from a loss of approximately HK$4,994,000 in Q1 2021, mainly due to increased bank interest income and reduced commission expenses[87] Revenue Breakdown - Total revenue for the three months ended June 30, 2022, was HK$1,592,000, a decrease of 10.8% compared to HK$1,785,000 for the same period in 2021[33] - Revenue from securities dealing and brokerage services was HK$355,000, down 56.2% from HK$810,000 in the previous year[33] - Interest income from margin financing services increased to HK$818,000, up 18.5% from HK$690,000 in the same period last year[33] - Interest income from loan financing and money lending rose to HK$324,000, an increase of 23.7% compared to HK$262,000 in 2021[33] - Revenue from supply chain services was HK$33,000, which was not reported in the same period last year[33] - Other services generated revenue of HK$62,000, compared to HK$23,000 in the previous year, marking a significant increase[35] - The company reported handling fee income of HK$58,000, a substantial increase from HK$1,000 in the same period last year[35] - Professional service fee income decreased to HK$2,000 from HK$22,000 in the previous year[35] Expenses and Costs - Total other operating expenses for the three months ended June 30, 2022, were HK$2,935,000, a slight decrease from HK$3,064,000 in 2021[44] - Staff costs for the three months ended June 30, 2022, totaled HK$1,982,000, down from HK$2,358,000 in 2021, reflecting a decrease of approximately 15.9%[41] - Legal and professional fees decreased by approximately 64.75% to approximately HK$349,000 in 1Q2022 from approximately HK$990,000 in the corresponding period[85] - Other operating expenses totaled approximately HK$2,935,000 in 1Q2022, down from approximately HK$3,064,000 in 1Q2021[81] Assets and Equity - As of June 30, 2022, equity attributable to owners of the Company was HK$149,438,000, down from HK$153,334,000 as of April 1, 2022[12] - The Group's net current assets as of June 30, 2022, were approximately HK$142,901,000, slightly down from HK$144,278,000 as of March 31, 2022[91] - The current ratio was approximately 3.9 times as of June 30, 2022, compared to 4.3 times as of March 31, 2022[92] - Total equity attributable to owners of the Company amounted to approximately HK$149,438,000 as of June 30, 2022, down from approximately HK$153,334,000 as of March 31, 2022[92] Shareholding and Corporate Governance - As of June 30, 2022, CWIL holds a beneficial interest in 1,199,640,000 shares, representing approximately 59.98% of the company's shareholding[118] - Mega Wise Group Limited and Dr. Lee Chun Pong Bruce each hold 300,000,000 shares, accounting for 15.00% of the company's shareholding[118] - No share options have been granted by the company since the adoption of the share option scheme on December 5, 2016, up to June 30, 2022[121] - The company and its subsidiaries did not purchase, sell, or redeem any of the company's listed securities during the reporting period[122] - There are no competing interests from directors or controlling shareholders that could conflict with the company's business during the reporting period[123] - All directors confirmed compliance with the Required Standard of Dealings throughout the reporting period[128] - The Audit Committee comprises three independent non-executive Directors: Mr. Tong Wing Chi, Ms. Chan Hoi Wuen Katherine, and Mr. Kwan Tsz Chun Sun, with Mr. Tong serving as the chairman[130] - The Board consists of seven Directors, including four executive Directors and three independent non-executive Directors[133] Compliance and Reporting - The report confirms that the information is accurate and complete in all material respects, with no misleading statements[7] - The unaudited condensed consolidated financial statements were approved for issue by the Directors on August 11, 2022[19] - The Group's financial statements have been prepared in accordance with applicable Hong Kong Financial Reporting Standards[20] - The unaudited condensed consolidated results for the Period were reviewed and deemed compliant with applicable accounting standards and GEM Listing Rules[130] Market Activity - The total transaction value for securities trading in 1Q2022 was approximately HK$177,000,000, a decrease of approximately 55.75% compared to approximately HK$400,000,000 in 1Q2021[57] - The Group had 139 active securities trading accounts as of June 30, 2022, down from 197 accounts in 1Q2021[57] - The Group did not complete any placing and underwriting engagements during the three months ended June 30, 2022, resulting in zero fee and commission income from these activities[58] Foreign Exchange and Risk Management - The Group incurred a foreign exchange loss of HK$1,279,000 during the three months ended June 30, 2022, with no such loss reported in the same period of 2021[44] - The Group does not currently have a policy on hedging foreign exchange risk but will monitor exchange rate fluctuations closely[98] - The foreign exchange loss for the period was approximately HK$1,279,000, primarily due to depreciation of the exchange rate related to RMB bank deposits[86] Events After Reporting Period - There were no significant events relevant to the business or financial performance of the Group after the reporting period[100] - There were no material acquisitions or disposals of subsidiaries, associates, or joint ventures during the period[97] - The Group had no significant contingent liabilities as of June 30, 2022[99]
PF GROUP(08221) - 2023 Q1 - 季度财报