Financial Performance - For the nine months ended September 30, 2022, revenue was approximately HKD 5,925,000, a decrease of 45.8% compared to HKD 10,910,000 for the same period in 2021[7]. - The loss attributable to owners for the nine months ended September 30, 2022, was approximately HKD 21,460,000, compared to a loss of HKD 12,641,000 for the same period in 2021, representing an increase of 69.8%[7]. - Basic loss per share for the nine months ended September 30, 2022, was approximately HKD 1.82, compared to HKD 1.36 for the same period in 2021, indicating a worsening of 33.8%[7]. - Total comprehensive loss for the three months ended September 30, 2022, was HKD 1,262,000, compared to a loss of HKD 4,248,000 for the same period in 2021[9]. - The company reported a total income from client contracts of HKD 5,925,000 for the nine months ended September 30, 2022, compared to HKD 10,910,000 in the same period of 2021, reflecting a significant decline[21]. - The company incurred a pre-tax loss of HKD 12,997,000 for the nine months ended September 30, 2022, compared to a loss of HKD 13,681,000 in the same period of 2021[24]. - The company’s employee benefit expenses totaled HKD 12,997,000 for the nine months ended September 30, 2022, a slight decrease from HKD 13,681,000 in the same period of 2021[24]. - The company’s interest income from debt securities for the nine months ended September 30, 2022, was HKD 691,000, compared to no income in the previous year[23]. Revenue Breakdown - Brokerage service commission revenue for the nine months ended September 30, 2022, was HKD 1,521,000, down 42.8% from HKD 2,659,000 in the previous year[20]. - Commission from brokerage services dropped by about 42.8% from approximately HKD 2,659,000 to about HKD 1,521,000 due to reduced trading volumes[35]. - Interest income from securities and IPO financing fell by approximately 42.3% from about HKD 3,919,000 to about HKD 2,260,000 due to weak demand[35]. Other Income and Expenses - The company reported other income of HKD 2,411,000 for the nine months ended September 30, 2022, an increase from HKD 1,317,000 in the same period of 2021[9]. - Other income increased by approximately 83.1% from about HKD 1,317,000 to about HKD 2,411,000, mainly due to interest income from non-listed debt securities[38]. - Administrative and other operating expenses for the nine months ended September 30, 2022, were HKD 22,847,000, slightly decreased from HKD 22,888,000 in the previous year[9]. - Administrative and other operating expenses slightly decreased by about 0.2% from approximately HKD 22,888,000 to about HKD 22,847,000[41]. - Financing costs significantly decreased by approximately 94.7% from about HKD 1,513,000 to about HKD 80,000 due to no interest expenses from IPO bank loans[42]. Equity and Shareholder Information - As of September 30, 2022, total equity attributable to owners was HKD 161,108,000, a decrease from HKD 216,353,000 at the beginning of the year[11]. - The company engaged in share buybacks amounting to HKD 33,785,000 during the nine months ended September 30, 2022[11]. - As of September 30, 2022, the company had a total of 960,000,000 issued shares, with major shareholder Mr. Pan holding 540,685,000 shares, representing approximately 56.32% of the total[55][57][58]. - Mr. Pan's shares are held through Autumn Ocean Limited, which he fully owns, thus he is deemed to have an interest in all shares held by the company[56]. - The company repurchased a total of 233,000,000 ordinary shares at a cost of HKD 32,853,000, equating to HKD 0.141 per share, and subsequently cancelled all repurchased shares[69]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance, adhering to the principles and code provisions set out in the GEM Listing Rules[72]. - The company has confirmed compliance with the non-competition agreements during the reporting period, with satisfactory evaluations from the audit committee regarding adherence to these commitments[66][67]. - The audit committee reviewed the group's unaudited condensed consolidated financial statements and found that the performance met applicable accounting standards and GEM listing rules[76]. - The company has not identified any violations of the trading standards by directors during the reporting period[68]. - The company has confirmed that the roles of the chairman and CEO are not separated, which is a deviation from the corporate governance code[72]. Market Conditions - The Hang Seng Index fell approximately 26.4% from about 23,398 points on December 31, 2021, to about 17,223 points on September 30, 2022, and further declined to around 14,687 points by October 31, 2022, marking the lowest level since April 2009[44]. - The US, Europe, and UK inflation rates were reported at 8.2%, 9.9%, and 13.2% respectively in September 2022, leading to tightening monetary policies by global central banks[44]. Acquisitions and Changes - The company completed the acquisition of 25% of RS (BVI) for HKD 32,853,000, issuing 233,000,000 shares at HKD 0.141 per share as payment[46]. - The guaranteed profit from RaffAello Holdings for the fiscal year ending March 31, 2022, was set at no less than HKD 15,500,000, but the actual unaudited profit was less than HKD 1,000,000[47][48]. - Following negotiations, the company and RaffAello Holdings agreed to a settlement on June 16, 2022, regarding the acquisition and share repurchase[48]. - The company’s name changed from "RaffAello-Astrum Financial Holdings Limited" to "Astrum Financial Holdings Limited" effective October 10, 2022, with the stock trading symbol changing to "ASTRUM FIN" from "RAFFAELLOASTRUM" on October 13, 2022[52]. - The company proposed a share consolidation on November 1, 2022, merging every ten existing shares into one new share with a par value of HKD 0.1[53].
阿仕特朗金融(08333) - 2022 Q3 - 季度财报