Financial Performance - Revenue for the six months ended March 31, 2025, was HKD 4,629,000, a decrease of 19.3% compared to HKD 5,735,000 for the same period in 2024[3] - Other income decreased to HKD 358,000 from HKD 496,000, representing a decline of 28% year-over-year[3] - The net loss before tax for the period was HKD 2,898,000, compared to a loss of HKD 2,663,000 in the previous year, indicating a 8.8% increase in losses[3] - Basic and diluted loss per share was HKD 0.25, slightly higher than HKD 0.24 for the same period last year[3] - Total revenue for the six months ended March 31, 2025, decreased by approximately 19.3% to about HKD 4.6 million compared to HKD 5.7 million for the same period in 2024[42] - The net loss for the six months ended March 31, 2025, increased by approximately 7.4% to about HKD 2.9 million, compared to HKD 2.7 million for the same period in 2024[46] - Corporate finance advisory services revenue decreased by approximately 35.1% to about HKD 3.7 million, primarily due to a reduction in the total number of advisory transactions[37] Assets and Cash Flow - Total assets as of March 31, 2025, were HKD 25,905,000, an increase of 15.8% from HKD 22,520,000 as of September 30, 2024[4] - Cash and cash equivalents increased to HKD 19,556,000 from HKD 17,665,000, reflecting a growth of 10.6%[4] - The net cash used in operating activities was HKD 3,700,000, compared to a net cash inflow of HKD 6,219,000 in the previous year[6] - Trade receivables as of March 31, 2025, amounted to HKD 9,804,000, an increase from HKD 7,809,000 as of September 30, 2024[20] - The group’s cash and cash equivalents as of March 31, 2025, were approximately HKD 19.6 million, compared to HKD 17.7 million as of September 30, 2024[47] Share Capital and Equity - The company issued new shares, raising net proceeds of HKD 5,960,000 during the period[7] - The total issued and paid-up ordinary shares increased to 1,204,700,000 as of March 31, 2025, from 1,100,000,000 on October 1, 2024, reflecting a growth of approximately 9.55%[26] - The weighted average number of ordinary shares increased to 1,148,898,000 shares from 1,100,000,000 shares, resulting in a basic loss per share of HKD 0.00253[18] - The company completed three independent subscription agreements on January 6, 2025, issuing 104,700,000 new shares at a subscription price of HKD 0.057 per share, raising approximately HKD 5.97 million for general working capital[57] Employee and Management Expenses - The company reported a decrease in employee benefit expenses to HKD 6,257,000 from HKD 6,558,000, a reduction of 4.6%[3] - The total remuneration for key management personnel for the six months ended March 31, 2025, was HKD 2,958,000, a decrease of 20.87% from HKD 3,738,000 for the same period in 2024[28] - As of March 31, 2025, the group employed 20 employees, a decrease from 25 in 2024[54] Corporate Governance and Compliance - The board confirmed compliance with the corporate governance code during the six months ending March 31, 2025, with some deviations explained[61] - No significant contracts were entered into by directors or their close associates that would constitute a conflict of interest with the group's business during the period[63] Dividends and Shareholder Information - The company had no declared dividends for the six months ended March 31, 2025, consistent with the previous year[18] - Major shareholders include Access Cheer, holding 562,000,000 shares, representing 46.65% of the total shares[70] Share Options and Plans - A total of 100,000,000 share options were granted under the share option plan on September 20, 2024, to 18 eligible participants, including directors and senior management[29] - The fair value of the share options granted to directors was HKD 329,000, while the fair value for employees was HKD 1,343,000, both reflecting new issuances in 2024[29] - The company adopted a new share option plan on February 18, 2025, which will remain effective for ten years unless revoked or amended[33] - As of March 31, 2025, the total number of stock options available for grant under the new stock option plan is 120,470,000, with a potential issuance of 100,000,000 shares upon exercise, representing approximately 8.70% of the weighted average issued shares of 1,148,898,352[75] Business Operations - The group primarily provides institutional financing advisory services and investment advisory services in Hong Kong, regulated under the Securities and Futures Ordinance[35] - The company’s operations include acting as financial advisors for public listings and mergers, and providing independent financial advisory services to independent boards and shareholders[35] - The company does not hold client assets and only provides services to professional investors through its subsidiaries[35] - The group is actively engaging with new clients regarding the establishment of financial asset investment funds, indicating a focus on expanding asset management advisory services[38] Other Financial Metrics - The current ratio as of March 31, 2025, was approximately 17.0 times, up from 14.4 times as of September 30, 2024[47] - The debt-to-equity ratio as of March 31, 2025, was approximately 4.5%, down from 7.5% as of September 30, 2024[47] - Other income for the six months ended March 31, 2025, included a reversal of trade receivables provision of approximately HKD 0.2 million and bank interest income of approximately HKD 0.2 million[43] Investments and Acquisitions - No significant investments, acquisitions, or disposals of subsidiaries or capital assets occurred during the reporting period[55] - The company did not purchase, sell, or redeem any of its listed securities during the period[71]
宝积资本(08168) - 2025 - 中期业绩