Financial Performance - For the six months ended June 30, 2022, the revenue was approximately HKD 35.54 million, a decrease of about 35.9% compared to HKD 55.46 million for the same period in 2021[6]. - The loss for the six months ended June 30, 2022, was approximately HKD 4.78 million, a decline of about 134.9% compared to a profit of HKD 13.70 million for the same period in 2021[7]. - The basic loss per share for the six months ended June 30, 2022, was HKD (2.55), compared to earnings of HKD 7.29 for the same period in 2021[6]. - The diluted loss per share for the six months ended June 30, 2022, was HKD (2.58), compared to earnings of HKD 7.29 for the same period in 2021[10]. - The company reported a loss before tax of HKD 7,783,729 for the three months ended June 30, 2022, compared to a profit of HKD 4,754,133 in the same period of 2021[11]. - The net loss for the six months ended June 30, 2022, was HKD 4,782,646, a significant decrease from a profit of HKD 13,698,257 in the same period of 2021[13]. - The group reported a total revenue of HKD 35,536,821 for the six months ended June 30, 2022, with a net loss of HKD 4,588,915[64]. - Total revenue for the six months ended June 30, 2022, was HKD 20,860,652, a decrease of 45.3% compared to HKD 38,113,651 for the same period in 2021[69]. - Client contract revenue for the three months ended June 30, 2022, was HKD 7,803,781, down 46.1% from HKD 14,520,724 in the same period of 2021[76]. - Commission and brokerage income for the six months ended June 30, 2022, was HKD 14,493,983, a decline of 50.7% from HKD 29,311,182 in the same period of 2021[76]. Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.01 per share for the six months ended June 30, 2022, down from HKD 0.013 per share for the same period in 2021[7]. - The interim dividend declared for the six months ended June 30, 2022, was HKD 2,000,420, down from HKD 2,600,546 for the same period in 2021, representing a decrease of approximately 23.1%[93]. Expenses and Costs - Commission expenses for the six months ended June 30, 2022, were HKD 4.30 million, a decrease from HKD 9.37 million for the same period in 2021[6]. - Employee costs for the six months ended June 30, 2022, were HKD 14.07 million, slightly up from HKD 14.01 million for the same period in 2021[6]. - Other operating expenses for the six months ended June 30, 2022, were HKD 8.97 million, compared to HKD 8.31 million for the same period in 2021[6]. - Interest expenses on bank loans, overdrafts, and other loans decreased to HKD 741,425 for the three months ended June 30, 2022, compared to HKD 1,126,844 for the same period in 2021, representing a reduction of approximately 34.2%[85]. - The total interest expense on financial liabilities not measured at fair value was HKD 889,510 for the three months ended June 30, 2022, down from HKD 1,638,255 in the same period of 2021, indicating a decrease of about 45.7%[87]. Assets and Liabilities - Non-current assets totaled HKD 78,763,383 as of June 30, 2022, an increase from HKD 76,172,153 as of December 31, 2021[16]. - Current assets decreased to HKD 323,983,335 as of June 30, 2022, down from HKD 420,315,663 as of December 31, 2021[17]. - The company’s total liabilities decreased from HKD 270,720,614 to HKD 179,242,185, reflecting a reduction of approximately 33.9%[17]. - The equity attributable to shareholders was HKD 211,129,791 as of June 30, 2022, down from HKD 215,794,066 as of December 31, 2021[20]. - The company reported a net cash position of HKD 40,723,743 as of June 30, 2022, compared to HKD 17,932,054 at the end of 2021, indicating a significant increase in liquidity[17]. - The group’s total receivables amounted to HKD 260,248,888 as of June 30, 2022, compared to HKD 380,078,131 at the end of 2021[162]. - The group’s cash and cash equivalents from client accounts were HKD 34,036,386 as of June 30, 2022, down from HKD 46,134,725 at the end of 2021[159]. Credit Loss Provisions - The expected credit loss provision increased during the period, contributing to the overall loss reported[7]. - The group reported a provision for expected credit losses of HKD 13,254,145 as of June 30, 2022, compared to HKD 8,300,206 at the end of 2021[160]. - The group incurred a net loss provision of HKD 4,778,846 for the three months ended June 30, 2022, compared to HKD 973,369 for the same period in 2021, indicating a significant increase in loss provisions[87]. Market Conditions and Business Operations - The company experienced a decrease in revenue primarily from securities/futures brokerage services, commission services, financing services, financial advisory services, and insurance advisory services due to poor market conditions in the first half of 2022 compared to 2021[6]. - The company operates as an investment holding company with subsidiaries engaged in securities, futures, and insurance brokerage, as well as asset management and financial advisory services[41]. - The group operates five reportable segments: securities/futures brokerage, financing services, asset management, insurance consulting, and financial advisory services[62]. - The company plans to continue focusing on expanding its market presence and enhancing its service offerings in the financial advisory and asset management sectors[68]. Accounting and Reporting Standards - The group’s financial statements for the six months ended June 30, 2022, are prepared in accordance with Hong Kong Accounting Standards and are unaudited[48]. - The company has adopted new accounting policies effective from January 1, 2022, in line with revisions to Hong Kong Financial Reporting Standards[55]. - The group has applied the revised Hong Kong Financial Reporting Standards from January 1, 2022, with no identified impact on financial performance[58]. - The financial report does not include all disclosures required by annual financial statements, and should be read in conjunction with the group’s audited financial statements for the year ended December 31, 2021[48]. Property and Valuation - The fair value of investment properties as of June 30, 2022, was HKD 50,100,000, up from HKD 48,300,000 as of December 31, 2021[104]. - The estimated price per square foot for investment properties increased to HKD 19,307 from HKD 18,613 as of December 31, 2021, indicating a significant rise in property valuation[112]. - The carrying value of right-of-use assets for office properties increased to HKD 4,074,148 as of June 30, 2022, up from HKD 3,017,738 as of December 31, 2021[124]. - The company engaged an external valuer quarterly to assess property valuations, ensuring adherence to professional standards and market knowledge[114]. Joint Ventures and Investments - As of June 30, 2022, the total assets of the group’s joint ventures amounted to HKD 6,005,104, with non-current assets at HKD 4,157,842 and current assets at HKD 100[150]. - The group’s share of net assets from joint ventures was HKD 2,889,853 as of June 30, 2022, reflecting a significant investment in these entities[143]. - The total revenue generated by the joint ventures was HKD 1,150,312, while the total loss for the period was HKD 10,747,702[150].
胜利证券(08540) - 2022 - 中期财报