Financial Performance - For the fiscal year ended September 30, 2023, the Group reported a negative turnover of approximately HK$92.3 million, compared to HK$25.1 million for the fiscal year 2022[41]. - The net loss attributable to equity holders of the Company was approximately HK$149.1 million, an increase from HK$88.1 million in the previous year[41]. - The Group recorded a net loss of approximately HK$149.1 million for the Year, an increase from the net loss of approximately HK$88.1 million in Year 2022[55]. - The Group's financial performance indicates a deteriorating trend in investment returns, necessitating a review of investment strategies moving forward[41][42]. Investment Activities - The Group's loss on listed investments increased from approximately HK$40.9 million in the year ended September 30, 2022, to approximately HK$109.9 million in the fiscal year 2022/23[13]. - The loss on listed investments for the year included a net realized loss of approximately HK$24.4 million and a net unrealized loss of approximately HK$86.4 million, net of dividend income of approximately HK$0.9 million[42]. - The Group subscribed to four unsecured bonds with coupon rates between 8% and 12% during the fiscal year[17]. - The Group redeemed a bond with a principal of HK$30 million and collected approximately HK$33.4 million during the year[17]. - A bond investment with a principal of HK$18 million was written off during the year, resulting in a loss of approximately HK$18.6 million[17]. - The Group received approximately HK$16.1 million in aggregate bonds interest during the fiscal year[18]. - The Group has adopted a prudent approach on the valuation of its bond investments and outstanding receivables due to the overall increase in interest rates since the second half of Year 2022[54]. - The Group plans to adopt cautious measures to manage its investment portfolio in the coming year[19]. Asset Management - As of 30 September 2023, the Group held assets of approximately HK$378.6 million, down from HK$511.7 million in 2022, with cash and cash equivalents increasing to HK$33.1 million from HK$16.7 million[56]. - The current ratio decreased from 15.0 as of 30 September 2022 to 6.5 as of 30 September 2023, indicating a maintained healthy level of liquidity[56]. - The gearing ratio increased to 17.2% from 8.1% in 2022, which is still considered low by the Board[57]. - The Group recorded a loss on written off of approximately HK$2.1 million for unlisted equity investments during the Year[53]. - The total market value of the company's bonds investments includes HK$59.9 million in Gold Medal Hong Kong Limited, representing 15.8% of total assets[78]. - The company holds significant investments, including HK$23.7 million in WLS Holdings Limited, which represents 6.3% of the company's total assets as of September 30, 2023[78][80]. - The investment in Fullsun International Holdings Group Co., Limited is valued at approximately HK$21.3 million, accounting for 5.6% of the company's total assets as of September 30, 2023[78][83]. Corporate Governance - The Board comprises two Executive Directors and three Independent Non-executive Directors as of September 30, 2023[125]. - The Board is committed to maintaining high standards of corporate governance, emphasizing transparency and accountability[122]. - The Company believes that the separation of the roles of Chairman and Chief Executive enhances decision-making efficiency[139]. - The Board will regularly review its composition to maintain an appropriate balance of skills and expertise[137]. - All Directors are required to retire and submit themselves for re-election at annual general meetings, ensuring accountability[138]. - The Company has adopted a board diversity policy considering various factors such as gender, age, and professional experience[156]. Risk Management - The Group's risk management and internal control systems are designed to provide reasonable assurance against material misstatement or loss[165]. - The Company engaged an independent professional adviser to conduct an annual review of the risk management and internal control systems[176]. - The Audit Committee reviewed the efficiency and effectiveness of the Group's risk management and internal control systems with the assistance of the System Adviser[178]. - The management provided an action plan to mitigate identified deficiencies in the risk management and internal control systems[179]. - The risk management and internal control systems were deemed sufficient to meet the current operational environment, with ongoing reviews planned[183]. Shareholder Communication - The Company emphasizes effective communication with shareholders, providing information in interim and annual reports[187]. - The annual general meetings serve as a platform for direct communication between the Board and shareholders, with all Directors and senior management making efforts to attend[188]. - Shareholders holding at least 10% of the paid-up capital can requisition an extraordinary general meeting[190]. - The Company is committed to addressing shareholder queries and encourages attendance at meetings for direct communication[192].
首都创投(02324) - 2023 - 年度财报