Financial Performance - Revenue for the six months ended March 31, 2024, was HKD 44,068,000, an increase of 11.7% compared to HKD 39,428,000 for the same period in 2023[9]. - The net loss from continuing operations for the six months was HKD 15,355,000, a reduction of 42.5% from HKD 26,792,000 in the prior year[9]. - Total comprehensive loss for the period was HKD 15,421,000, compared to HKD 21,837,000 in the previous year, indicating a 29.5% improvement[11]. - Basic and diluted loss per share from continuing operations was HKD (0.43), down from HKD (0.86) in the same period last year[11]. - The group reported a loss before tax of HKD 15,350,000 for the six months ended March 31, 2024, compared to a loss of HKD 21,180,000 for the same period in 2023, reflecting an improvement of approximately 27.1%[34][35]. - The group recorded a loss from continuing operations of approximately HKD 15,400,000 for the period, an improvement from a loss of approximately HKD 26,800,000 in the previous period[112]. Revenue Breakdown - The licensed business generated revenue of HKD 14,631,000, while the non-licensed business generated HKD 29,437,000, indicating a shift in revenue distribution[34]. - Revenue from Hong Kong increased to HKD 40,306,000 in 2024 from HKD 34,610,000 in 2023, marking a growth of about 16.5%[36]. - Revenue from licensed businesses rose by approximately HKD 7,300,000 or 107.4% to about HKD 14,100,000, driven mainly by an increase in placement and underwriting services revenue[104]. - Non-licensed business revenue decreased by approximately HKD 2,700,000 or 8.3% to about HKD 30,000,000, primarily due to declines in risk management and ESG consulting services[107]. Expenses and Costs - Administrative and other operating expenses decreased to HKD 55,928,000 from HKD 69,351,000, reflecting a reduction of 19.3%[9]. - Employee costs increased to HKD 33,684,000 from HKD 55,089,000, indicating a reduction of 38.8%[45]. - The financial costs for the six months were HKD 760,000, a decrease from HKD 862,000 in the previous year[43]. - The company recorded a tax expense of HKD 5,000 for the current period, down from HKD 604,000 in the previous year[47]. Assets and Liabilities - Non-current assets totaled HKD 130,159,000 as of March 31, 2024, slightly down from HKD 130,139,000 as of September 30, 2023[12]. - Current assets decreased to HKD 93,264,000 from HKD 142,454,000, a decline of 34.5%[12]. - Current liabilities were reduced to HKD 32,765,000 from HKD 67,123,000, a decrease of 51.2%[12]. - The net asset value decreased to HKD 182,805,000 from HKD 198,226,000, reflecting a decline of 7.8%[13]. - The company’s total liabilities increased, leading to a higher debt-to-equity ratio, reflecting increased financial leverage[20]. Cash Flow - Cash used in operating activities was HKD 11,738,000, an improvement from HKD 18,827,000 in the same period last year[23]. - The company generated a net cash inflow of HKD 5,500,000 from the sale of a subsidiary, compared to HKD 7,000,000 in the previous year[23]. - The company reported a decrease in cash and cash equivalents of HKD 11,726,000, compared to an increase of HKD 8,013,000 in the previous year[23]. Strategic Initiatives - The company plans to continue its market expansion efforts and explore potential acquisitions to enhance its service offerings[24]. - The company has invested in new technology development to improve operational efficiency and service delivery[24]. - The company aims to enhance its asset management services as part of its strategic growth initiatives[24]. - The company is actively exploring new business opportunities, particularly focusing on acquisition targets in the Greater Bay Area to enhance shareholder returns[118]. Share Capital and Options - The total issued and paid-up shares as of March 31, 2024, is 35,681,360, unchanged from the previous period[80]. - The company issued 38,640,000 shares at a price of HKD 386,000 during the reporting period[80]. - The total number of unexercised share options under the share option scheme was 1,767,600, a decrease from 44,600,000 options granted on December 30, 2022[126]. - The company has granted 44,600,000 share options under its share option scheme since its adoption in May 2017, with no expenses recognized in the profit and loss for the period[86]. Governance and Compliance - The company has adopted the corporate governance code as per GEM Listing Rules and has complied with all applicable code provisions during the reporting period[132]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited results for the period and confirmed compliance with applicable accounting standards[134]. - The board of directors includes three executive directors and three independent non-executive directors as of the report date[136].
亦辰集团(08365) - 2024 - 中期财报