Financial Performance - Total revenue for the six months ended June 30, 2023, was HKD 13,582,000, an increase of 4.6% compared to HKD 12,985,000 for the same period in 2022[4] - Gross profit for the six months ended June 30, 2023, was HKD 13,163,000, representing a 11.4% increase from HKD 11,816,000 in the previous year[4] - The net profit attributable to the owners of the company for the six months ended June 30, 2023, was HKD 6,911,000, compared to a loss of HKD 23,120,000 in the same period of 2022[6] - Basic and diluted earnings per share for the six months ended June 30, 2023, were HKD 1.66, a significant improvement from a loss of HKD 15.17 in the previous year[6] - The adjusted profit before tax for the six months ended June 30, 2023, was HKD 8,799 thousand, a recovery from a loss of HKD (26,129) thousand in the same period of 2022[26] - The company reported a net profit of HKD 7,642 thousand for the six months ended June 30, 2023, compared to a net loss of HKD (22,041) thousand in the prior year[26] - The group recorded a net profit of approximately HKD 7,600,000 for the six months ended June 30, 2023, a significant improvement from a net loss of HKD 22,000,000 in the same period of 2022[66] - The group’s total revenue increased to approximately HKD 13,600,000 for the six months ended June 30, 2023, a 4.6% increase from HKD 13,000,000 in 2022[66] Assets and Liabilities - Total assets as of June 30, 2023, were HKD 385,709,000, a decrease from HKD 414,053,000 as of December 31, 2022[8] - The company's net asset value increased to HKD 394,647,000 as of June 30, 2023, compared to HKD 387,005,000 at the end of 2022[10] - The company’s total liabilities decreased to HKD 61,383,000 as of June 30, 2023, from HKD 88,024,000 at the end of 2022[10] - The total assets as of June 30, 2023, were HKD 462,236 thousand, down from HKD 478,246 thousand as of December 31, 2022[29] - The total liabilities decreased to HKD 67,589 thousand as of June 30, 2023, from HKD 91,241 thousand at the end of 2022[29] - The total liabilities for accounts payable to clearing houses and cash clients decreased to HKD 48,046,000 as of June 30, 2023, from HKD 68,316,000 as of December 31, 2022, reflecting a reduction of approximately 29.6%[45] Cash Flow and Financing - For the six months ended June 30, 2023, the net cash used in operating activities was HKD (51,496) thousand, a significant decline from HKD 9,660 thousand in the same period of 2022[13] - The company’s financing activities used HKD 5,005 thousand in cash for the six months ended June 30, 2023, compared to HKD (1,247) thousand in the previous year[13] - The company’s cash and cash equivalents decreased by HKD 55,441 thousand during the six months ended June 30, 2023, compared to an increase of HKD 8,424 thousand in the same period of 2022[13] - Interest income from bank deposits for the six months ended June 30, 2023, was HKD 1,050 thousand, a significant increase from HKD 11 thousand in the same period of 2022[26] - For the six months ended June 30, 2023, the total loan interest income was approximately HKD 3,500,000, representing 25.7% of the group's total revenue, compared to HKD 1,700,000 and 13.3% in 2022[61] Revenue Segments - The company’s financial services segment generated revenue of HKD 9,844 thousand for the six months ended June 30, 2023, down from HKD 11,005 thousand in the previous year[25] - Total revenue from brokerage services for the six months ended June 30, 2023, was HKD 9,844,000, a decrease from HKD 11,005,000 in the same period of 2022, reflecting a decline of about 10.6%[54] - Margin financing revenue increased to HKD 8,495,000 for the six months ended June 30, 2023, compared to HKD 4,366,000 in 2022, marking an increase of approximately 94%[54] Accounts Receivable - Accounts receivable from cash clients increased to HKD 38,593,000 as of June 30, 2023, from HKD 18,790,000 as of December 31, 2022, representing a growth of approximately 105.5%[41] - The total accounts receivable from margin clients was HKD 87,084,000 as of June 30, 2023, slightly up from HKD 83,145,000 as of December 31, 2022, indicating an increase of about 4.4%[41] Corporate Governance and Compliance - The audit committee has reviewed the unaudited financial results for the six months ended June 30, 2023, and confirmed compliance with applicable accounting standards[90] - The company has adhered to the corporate governance code throughout the six-month period ending June 30, 2023[88] - There have been no changes in director information that require disclosure since the last annual report[89] - The board of directors consists of six members, including two executive directors and four non-executive directors[91] Strategic Plans and Risk Management - The company plans to expand its margin financing services to enhance revenue from brokerage and margin financing, which is expected to be a key growth driver[56] - The group aims to explore new business areas and investment opportunities while strictly controlling risks and enhancing internal management[67] - The group maintained a cautious approach to lending, focusing on borrowers with good credit ratings due to economic volatility caused by the pandemic[60] Other Information - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[40] - The company reported no significant capital commitments as of June 30, 2023, indicating a stable financial position[49] - The group did not record any bad debts during the reporting period[61] - The company has not authorized any directors or key executives to profit from the acquisition of company shares or bonds during the period[83] - There are no interests held by directors or management shareholders in any competing businesses[84] - The company and its subsidiaries did not purchase, sell, or redeem any listed securities during the period[85] - The company has adopted a code of conduct for directors' securities trading, which complies with the GEM Listing Rules[86] - The report will be published on the Hong Kong Stock Exchange website for at least seven days from the publication date[91]
树熊金融集团(08226) - 2023 - 中期财报