Financial Performance - The Group recorded a loss of approximately HK$22.1 million on listed investments for the year, a decrease from approximately HK$109.9 million in the previous year[12]. - For the year ended September 30, 2024, the Group reported a negative revenue of approximately HK$2.3 million, a significant decrease from HK$93.9 million in the previous year[40]. - The net loss attributable to equity holders of the Company was approximately HK$19.9 million, compared to HK$149.1 million in the previous year[40]. - The loss on listed investments decreased from HK$109.9 million in the previous year to HK$22.1 million in the current year[41]. - The net unrealised loss for the year was approximately HK$22.7 million, consisting of an unrealised gain of approximately HK$35.8 million and an unrealised loss of approximately HK$58.5 million[47]. - The Group recorded a net loss of approximately HK$19.9 million for the year, a significant decrease from the net loss of approximately HK$149.1 million in the previous year[53]. Investment Portfolio - The Group will continue to adopt cautious measures to manage its investment portfolio in light of the ongoing US-China tensions and high interest rates[20]. - The Group anticipates a challenging investment environment in the coming year due to ongoing tensions in US-China relations and high US interest rates[22]. - The Group's strategic focus remains on careful investment management and exploring potential market opportunities despite the current economic challenges[22]. - The Group's listed investments were approximately HK$172.6 million as of 30 September 2024, indicating manageable currency and interest rate risks[68]. - The Group's bond investments include significant holdings in Gold Medal Hong Kong Limited and Hao Wen Holdings Limited, with fair values of HK$62.2 million and HK$43.8 million respectively[73]. Financial Position - As of September 30, 2024, the Group held total assets of approximately HK$353.0 million, down from HK$378.6 million in 2023, with cash and cash equivalents of HK$25.2 million[54]. - The current ratio decreased from 6.5 as of September 30, 2023, to 4.6 as of September 30, 2024, indicating a healthy liquidity position[54]. - The gearing ratio improved to 14.0% from 17.2% in the previous year, reflecting a low level of financial leverage[55]. - The Group is actively seeking fundraising opportunities to strengthen its financial position and support future investments[60]. - The net proceeds from the CB Placing amounted to approximately HK$20.5 million, fully utilized for general working capital and future investments[65]. Risk Management - The Group identifies and assesses significant risks that may affect its business operations, prioritizing them based on impact and likelihood[166]. - The risk management strategies are regularly monitored and revised in response to significant changes in the business environment[166]. - The Company engaged an independent professional adviser to conduct an annual review of the adequacy and effectiveness of the Group's risk management and internal control systems[169]. - The Board was satisfied that the Group's risk management and internal control processes are adequate for the current business environment[173]. Corporate Governance - The Board comprises two Executive Directors and three Independent Non-executive Directors as of the fiscal year ended September 30, 2024[119]. - The Company has a strong corporate governance structure to ensure effective oversight of management[132]. - The Audit Committee, chaired by Mr. Cheung Wai Kin, held three meetings during the year to review the financial reporting system and risk management[140]. - The Remuneration Committee is responsible for reviewing and determining the compensation of Directors and senior management, ensuring compliance with CG Code Provisions[144]. - The Board has adopted a diversity policy considering factors such as gender, age, and professional experience to enhance Board diversity[146]. Future Outlook - The management discussion highlighted the importance of adapting to market conditions and maintaining investor confidence moving forward[40]. - The company anticipates that the confidence in China's property market will continue to recover in 2024, driven by economic improvements and favorable policies[82]. - Japan Symbiosis Group aims to leverage its unique advantages and resources to explore real estate opportunities in Eurasia and collaborate with Japanese companies for mergers and acquisitions to enhance profitability[81]. Shareholder Communication - The Company prioritizes effective communication with shareholders and provides relevant information in its interim and annual reports[181]. - The Company has established procedures for shareholders to convene extraordinary general meetings, requiring at least one-tenth of the paid-up capital[184]. - The Company does not recommend the payment of a final dividend for the Period[195].
首都创投(02324) - 2024 - 年度财报