Financial Performance - The Group reported a loss of approximately HK$69.9 million on listed investments for the fiscal year 2019/20, compared to a loss of approximately HK$163.6 million in the previous year[11]. - For the year ended 30 September 2020, the Group reported a negative turnover of approximately HK$52.4 million, a decrease from HK$142.8 million in the previous year[37]. - The net loss attributable to equity holders of the Company was approximately HK$105.5 million, down from HK$183.6 million in the previous year, indicating a significant reduction in losses[37]. - The loss on listed investments decreased from HK$150.6 million in the previous year to approximately HK$61.0 million, comprising a net realised loss of approximately HK$23.6 million and a net unrealised loss of approximately HK$37.6 million[38]. - The Group's performance in financial assets investments was unsatisfactory, leading to a net loss of approximately HK$105.5 million for the year[50]. Investment Strategy - The Group's focus on bond investments has provided a constant cash flow despite the challenging market conditions[12]. - The Directors will continue to adopt cautious measures to manage the Group's investment portfolio in light of uncertainties from COVID-19 and potential trade tensions between China and the US[18]. - The Group's investment strategy will remain cautious as the global investment landscape is expected to be challenging in the coming year[18]. - The Federal Reserve's quantitative easing measures may provide investment opportunities for investors[20]. - The Group anticipates challenges in global investment due to uncertainties from COVID-19 and the potential restart of the US-China trade war[20]. Asset Management - The value of bonds held by the Group decreased from HK$167.7 million as of September 30, 2019, to HK$119.9 million as of September 30, 2020, with an expected loss on bonds of approximately HK$20.2 million recorded during the year[17]. - Aggregate bond coupons received during the year amounted to approximately HK$17.2 million[17]. - As of 30 September 2020, the Group held assets of approximately HK$489.8 million, down from HK$576.0 million in the previous year, including cash and cash equivalents of HK$16.8 million[51]. - The gearing ratio increased to 8.13% from 3.93% in the previous year, reflecting a change in the capital structure[52]. - As of 30 September 2020, the Group had margin payables of approximately HK$23.7 million, secured by listed investments valued at approximately HK$178.1 million[65]. Corporate Governance - The Company is in compliance with the mandatory Corporate Governance Code provisions, with some deviations discussed in the report[101]. - The Board believes it has a strong corporate governance structure to ensure effective oversight of management[116]. - The Audit Committee reviewed the final results for the Year ended 30 September 2020 and the interim results for the six months ended 31 March 2020[127]. - The Remuneration Committee is responsible for reviewing and determining the compensation and benefits of the Directors and senior management[131]. - The Nomination Committee is tasked with reviewing the structure, size, composition, and diversity of the Board[132]. Risk Management - The management has engaged an independent professional adviser to conduct an annual review of the Group's risk management and internal control systems[156]. - The existing risk management and internal control systems will continue to be reviewed and updated to adapt to changes in the operating environment[160]. - The Board has not identified any issues that would indicate inadequacies in the Group's risk management and internal control systems[164]. - The risk management processes include identifying, assessing, and prioritizing risks, as well as determining management strategies[153]. - The Company has established internal control procedures to safeguard assets and ensure the reliability of financial information[147]. Employee and Stakeholder Engagement - As of September 30, 2020, the Group had 13 employees, with total staff costs (excluding Directors' remuneration) amounting to approximately HK$4.5 million[93]. - The Group emphasizes the importance of stakeholder engagement for long-term growth and success, identifying key stakeholders such as employees, business partners, shareholders, suppliers, government, and the community[191]. - The Group maintains ongoing communication with stakeholders to adapt business strategies to meet their needs and expectations[192]. - Employees seek career development opportunities, competitive salary and benefits, and a safe working environment, with training provided to enhance safety awareness[198]. - Customers prioritize the protection of their rights and interests, customer information security, and compliance marketing practices[198]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes sustainability by integrating environmental, social, and governance considerations into its operations[185]. - The ESG report highlights the group's strategies for sustainable development during the reporting period[181]. - The company aims to minimize environmental impact and enhance employee well-being as part of its commitment to corporate social responsibility[189]. - The governance system ensures timely implementation of sustainable development measures and the accuracy of presented data[193]. - The annual materiality assessment was conducted to identify significant operating, environmental, and social impacts on the business through interviews and surveys with stakeholders[199].
首都创投(02324) - 2020 - 年度财报