Financial Performance - Revenue for the three months ended March 31, 2023, was approximately HKD 2,275,000, compared to HKD 1,898,000 for the same period in 2022, representing an increase of 19.88%[6] - The total comprehensive loss attributable to owners for the three months ended March 31, 2023, was approximately HKD 6,074,000, a significant decrease from HKD 19,827,000 for the same period in 2022, reflecting a reduction of 69.32%[6] - Basic loss per share for the three months ended March 31, 2023, was approximately HKD 0.0633, compared to HKD 0.1662 for the same period in 2022, indicating an improvement of 61.91%[6] - The company recorded a loss attributable to shareholders of approximately HKD 6,074,000, an improvement from a loss of HKD 19,827,000 in the same period last year[28] - The net loss for the period was approximately HKD 6,074,000, an improvement compared to a net loss of HKD 19,827,000 in the same period last year[38] Expenses and Costs - The company’s administrative and other operating expenses for the three months ended March 31, 2023, were approximately HKD 6,895,000, down from HKD 7,858,000 in the same period of 2022, a decrease of 12.24%[7] - Administrative and other operating expenses decreased by approximately 12.3% from HKD 7,858,000 to HKD 6,895,000, attributed to a reduction in employee benefits expenses[35] - Financing costs increased significantly by approximately 4.5 times from HKD 22,000 to HKD 120,000 due to interest expenses from unsecured revolving loans[36] Income Sources - Total income from other sources increased from HKD 349,000 to HKD 401,000, with notable growth in interest income from debt securities[20] - The company reported a total income of HKD 2,275,000, which includes client contract income and other income sources[18] - Other income rose by approximately 14.9% from HKD 349,000 to HKD 401,000, primarily due to interest income from non-listed debt securities increasing from HKD 177,000 to HKD 285,000[32] Dividends - The company’s board of directors did not recommend the payment of an interim dividend for the three months ended March 31, 2023, consistent with the same period in 2022[6] - The company did not declare an interim dividend for the period ending March 31, 2023, consistent with the previous year[26] - The board of directors did not recommend the payment of an interim dividend for the three months ended March 31, 2023[41] Shareholder Information - As of March 31, 2023, the major shareholder, Ms. Liao Mingli, holds 54,068,500 shares, representing approximately 56.32% of the total issued shares of 96,000,000[46][47] - The company’s weighted average number of ordinary shares decreased from 119,300,000 to 96,000,000 due to a share consolidation effect[27] - The company has granted a total of 8,000,000 share options to 11 eligible participants, with an exercise price of HKD 0.96 per share, effective for five years from January 4, 2021[48] - As of March 31, 2023, there are 6,800,000 unexercised share options remaining, with no options exercised or expired during the period[49] Compliance and Governance - The financial statements were prepared in accordance with the Hong Kong Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[13] - The company has confirmed compliance with the non-competition agreement by Mr. Pan and Autumn Ocean Limited for the period from January 1, 2023, to March 31, 2023[52] - The company has adhered to the GEM Listing Rules regarding the trading of securities by directors, with no violations reported during the period[54] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the period[55] - The company has maintained compliance with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by Mr. Pan since 2007[56] Market and Economic Context - The Hong Kong economy showed signs of recovery with a year-on-year GDP growth of approximately 2.7% in Q1 2023, ending a four-quarter decline[39] Operational Focus - The company continues to focus on providing brokerage services, underwriting and placement services, corporate finance advisory services, financing services, and asset management services[11] - The company’s operational headquarters is located in Hong Kong, indicating a strategic focus on the local market for its financial services[11] Financial Assets - The fair value changes of financial assets measured at fair value through profit or loss for the three months ended March 31, 2023, were a loss of HKD 1,735,000, compared to a loss of HKD 14,100,000 for the same period in 2022, showing a significant improvement[7] - The fair value loss on financial assets measured at fair value through profit or loss was approximately HKD 1,735,000, a significant reduction from HKD 14,100,000 in the previous period[33] - The company has not made any provisions for Hong Kong profits tax as there were no taxable profits generated in Hong Kong during the reporting period[25] Revenue Streams - Brokerage service commission decreased significantly by approximately 56.1% from HKD 679,000 to HKD 298,000 due to reduced trading volume amid a sluggish market sentiment[29] - Corporate finance advisory service fees increased by approximately 13.2% from HKD 265,000 to HKD 300,000 due to an increase in the number of projects from two to four[30] - Interest income from securities and IPO financing surged by approximately 116.6% from HKD 645,000 to HKD 1,397,000 driven by increased client demand[30] - Asset management service fees slightly decreased by about 9.4% from HKD 309,000 to HKD 280,000, with no performance fees recognized during the period[30] - The company experienced a decrease in administrative service income from HKD 48,000 to HKD 3,000, indicating a significant decline in this revenue stream[20]
阿仕特朗金融(08333) - 2023 Q1 - 季度财报