FINETGROUP：InterimReport2024-2025.pdf

1、MOVINGFORWARDCHARACTERISTICS OF THE GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED(THE“STOCK EXCHANGE”)GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange.Prospec

2、tive investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated

3、investors.Given the emerging nature of companies listed on GEM are generally small and mid-sized companies,there is a risk that securities traded on GEM may be more susceptible to higher market volatility than securities traded on the Main Board of the Stock Exchange and no assurance is given that t

4、here will be a liquid market in the securities traded on GEM.Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this report,make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss h

5、owsoever arising from or in reliance upon the whole or any part of the contents of this report.This report,for which the directors(the“Directors”)of Finet Group Limited(the“Company”,together with its subsidiaries,the“Group”)collectively and individually accept full responsibility,includes particular

6、s given in compliance with The Rules Governing the Listing of Securities on GEM of the Stock Exchange(the“GEM Listing Rules”)for the purpose of giving information with regard to the Company.The Directors,having made all reasonable enquiries,confirm that,to the best of their knowledge and belief the

7、information contained in this report is accurate and complete in all material respects and not misleading or deceptive,and there are no other matters the omission of which would make any statement herein or in this report misleading.Finet Group Limited-Interim Report 2024-20252CONTENTSCorporate Info

8、rmation3Results Highlights4Unaudited Condensed Consolidated Statement of Profit or Loss5Unaudited Condensed Consolidated Statement of Comprehensive Income6Unaudited Condensed Consolidated Statement of Financial Position7Unaudited Condensed Consolidated Statement of Changes in Equity9Unaudited Conden

9、sed Consolidated Statement of Cash Flows10Notes to the Unaudited Condensed Consolidated Financial Statements11Management Discussion and Analysis25Other Information29Finet Group Limited-Interim Report 2024-20253CORPORATE INFORMATIONBoard of DirectorsExecutive DirectorsMs.LO Yuk Yee(Chairman)Mr.TAI Kw

10、ok Leung,AlexanderIndependent Non-executive DirectorsMr.WONG Wai KinMr.WONG Kwok YinMr.YUK Kai Yao (resigned on 27 August 2024)Mr.LEE Chi Hung,Samuel (appointed on 27 August 2024)Audit CommitteeMr.WONG Wai Kin(Chairman)Mr.WONG Kwok YinMr.YUK Kai Yao (resigned on 27 August 2024)Mr.LEE Chi Hung,Samuel

11、 (appointed on 27 August 2024)Remuneration CommitteeMr.WONG Kwok Yin(Chairman)Mr.WONG Wai KinMs.LO Yuk YeeNomination CommitteeMs.LO Yuk Yee(Chairman)Mr.WONG Wai KinMr.WONG Kwok YinCorporate Governance CommitteeMr.YUK Kai Yao(Chairman)(resigned on 27 August 2024)Mr.LEE Chi Hung,Samuel(Chairman)(appoi

12、nted on 27 August 2024)Mr.WONG Wai KinMr.WONG Kwok YinCompany SecretaryMs.CHEUNG Yin,HKICPAAuthorized RepresentativesMs.LO Yuk YeeMs.CHEUNG YinCompliance OfficerMs.LO Yuk YeeAuditorCrowe(HK)CPA LimitedCertified Public AccountantsRegistered OfficeClarendon House2 Church StreetHamilton HM11BermudaHead

13、 Office and Principal Place of Business in Hong Kong30/F,Fortis Tower7779 Gloucester Road,WanchaiHong KongCompany Websitewww.finet.hkPrincipal BankerThe Hongkong and Shanghai Banking Corporation LimitedStock Code08317Investor RelationsEmail:.hkWebsite:http:/ir.finet.hkFinet Group Limited-Interim Rep

14、ort 2024-20254RESULTS HIGHLIGHTS The Group reported the revenue of approximately HK$4,167,000 for the six months ended 30 September 2024,representing a decrease of approximately 65.8%from approximately HK$9,380,000 for the same period in 2023.The Groups unaudited consolidated loss attributable to ow

15、ners of the Company for the six months ended 30 September 2024 was approximately HK$4,301,000(six months ended 30 September 2023:approximately HK$3,781,000).The Board does not recommend the payment of dividend for the six months ended 30 September 2024.Finet Group Limited-Interim Report 2024-20255Th

16、e board of Directors(the“Board”)is pleased to present the unaudited results of the Group for the six months ended 30 September 2024,together with the comparative unaudited figures for the corresponding period in 2023 as follows:UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSSFor the six

17、months ended 30 September 2024For the six months ended 30 September20242023NotesHK$000HK$000UnauditedUnauditedRevenue34,1679,380Cost of revenue(264)(298)Gross profit3,9039,082Other income and other losses31,6033,633Impairment loss under expected credit loss model(1,878)Selling and marketing expenses

18、(4)(33)General and administrative expenses(9,525)(12,815)Finance costs5(110)(33)Loss before income tax6(4,133)(2,044)Income tax expense7Loss for the period(4,133)(2,044)(Loss)/profit attributable to:Owners of the Company(4,301)(3,781)Non-controlling interests1681,737(4,133)(2,044)Loss per share for

19、loss attributable to owners of the Company during the period9 Basic and diluted(in HK cents)(0.43)(0.47)Finet Group Limited-Interim Report 2024-20256UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFor the six months ended 30 September 2024For the six months ended 30 September202420

20、23NotesHK$000HK$000UnauditedUnauditedLoss for the period(4,133)(2,044)Other comprehensive expenseCurrency translation differences(963)(79)Other comprehensive expense for the period(963)(79)Total comprehensive expense for the period(5,096)(2,123)Attributable to:Owners of the Company(5,264)(3,860)Non-

21、controlling interests1681,737(5,096)(2,123)Finet Group Limited-Interim Report 2024-20257UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAt 30 September 202430 September 202431 March 2024NotesHK$000HK$000Unaudited AuditedASSETS AND LIABILITIESNon-current assetsProperty,plant and equip

22、ment749790Right-of-use assets3,2704,806Investment properties23,90023,900Statutory deposits and other assets19615528,11529,651Current assetsTrade receivables104,9955,836Prepayments,deposits and other receivables1,4171,525Amounts due from related companies24,29820,383Client trust bank balances147168Ca

23、sh and cash equivalents1118,3078,55149,16436,463Total assets77,27966,114Finet Group Limited-Interim Report 2024-2025830 September 202431 March 2024NotesHK$000HK$000Unaudited AuditedCurrent liabilitiesAccounts payable122,7662,795Contract liabilities1,8051,805Accruals and other payables6,0443,503Amoun

24、t due to a related company5Bank borrowings1311,082Loan from a shareholder7,7813,600Lease liabilities1,5503,06031,02814,768Net current assets18,13621,695Total assets less current liabilities46,25151,346Non-current liabilitiesLease liabilities1,7991,799Deferred tax liabilities5,7065,7057,5057,504Net a

25、ssets38,74643,842EQUITYCapital and reserves attributable to owners of the CompanyShare capital149,9989,998Reserves35,60939,32045,60749,318Non-controlling interests(6,861)(5,416)Total equity38,74643,842Finet Group Limited-Interim Report 2024-20259UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES

26、IN EQUITYFor the six months ended 30 September 2024Attributable to owners of the CompanyShare capitalShare premiumMerger reserveEmployee compensation reserveOther reserveTranslation reserveProperty revaluation reserveAccumulated lossesTotalNon-controlling interestsTotal equityHK$000HK$000HK$000HK$00

27、0HK$000HK$000HK$000HK$000HK$000HK$000HK$000As at 1 April 2023(Audited)6,665320,0954,8701,7283,7572,0169,989(323,374)25,746(6,692)19,054Profit/(loss)for the period(3,781)(3,781)1,737(2,044)Other comprehensive incomeCurrency translation differences(79)(79)(79)Total comprehensive(expense)/income(79)(3,

28、781)(3,860)1,737(2,123)Rights issues2,33328,85132,18432,184Employee compensation reserveAs at 30 September 2023(Unaudited)9,998348,9464,8701,7283,7571,9379,989(319,583)54,072(4,955)49,115As at 1 April 2024(Audited)9,998348,9464,8701,7283,7571,9019,989(331,871)49,318(5,476)43,842Profit/(loss)for the

29、period(4,301)(4,301)168(4,133)Other comprehensive incomeCurrency translation differences(963)(963)(963)Total comprehensive(expense)/income(963)(4,301)(5,264)168(5,096)Employee compensation reserveAs at 30 September 2024(Unaudited)9,998348,9464,8701,7283,757(963)9,989(336,172)44,054(5,308)38,746Finet

30、 Group Limited-Interim Report 2024-202510UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWSFor the six months ended 30 September 2024For the six months ended 30 September20242023NotesHK$000HK$000UnauditedUnauditedNet cash outflow from operating activities(4,419)(868)Net cash inflow from invest

31、ing activities21143Proceeds from bank loan11,082Proceed from Rights Issue32,185Repayment of loans from shareholder4,720(25,637)Repayment of borrowings,interest and principal elements of lease payments(1,646)(2,084)Net cash inflow from financing activities14,1564,464Net increase in cash and cash equi

32、valents9,7583,739Cash and cash equivalents,at beginning of the period8,7198,022Effect of exchange rate changes,net(170)(222)Cash and cash equivalents,at end of the period1118,30711,539Finet Group Limited-Interim Report 2024-202511NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS1.Ge

33、neral InformationThe principal activity of Finet Group Limited(the“Company”)is investment holding.The Company and its subsidiaries(together the“Group”)are principally engaged in(i)the development,production and provision of financial information,advertising and investor relationship service and tech

34、nology solutions to corporate and retail clients in Hong Kong and Peoples Republic of China(the“PRC”);(ii)provision of brokerage,underwriting and asset management;(iii)money lending business;and(iv)property investments.The Company was incorporated and registered as an exempted company with limited l

35、iability in the Cayman Islands under the Companies Law of the Cayman Islands on 24 June 2002.On 16 June 2011,the Company was deregistered in the Cayman Islands and duly continued in Bermuda as an exempted company under the laws of Bermuda.The Companys registered office is situated at Clarendon House

36、,2 Church Street,Hamilton HM11,Bermuda.The Companys principal place of business is situated at 30/F,Fortis Tower,7779 Gloucester Road,Wanchai,Hong Kong.The Companys immediate and ultimate holding company is Maxx Capital International Limited incorporated in the British Virgin Islands(“BVI”)with limi

37、ted liability and Pablos International Limited incorporated in the BVI with limited liability,respectively.The ultimate controlling party is Ms.LO Yuk Yee,the controlling shareholder(as defined in the GEM Listing Rules),who controls Pablos International Limited and is also the Chairman and executive

38、 Director of the Company.The Companys shares have been listed on GEM of The Stock Exchange of Hong Kong Limited(the“Stock Exchange”)since 7 January 2005.The unaudited condensed consolidated financial statements are presented in Hong Kong dollars(“HK$”)unless otherwise stated.These consolidated finan

39、cial statements were approved and authorized for issue by the board of directors on 29 November 2024.Finet Group Limited-Interim Report 2024-2025122.Basis of PreparationThe unaudited condensed consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Stand

40、ards issued by the Hong Kong Institute of Certified Public Accountants(the“HKICPA”)and the disclosure requirements of the GEM Listing Rules.The principal accounting policies and methods of computation used in the preparation of these accounts are consistent with those adopted in the preparation of t

41、he annual report of the Company for the year ended 31 March 2024.The unaudited condensed consolidated financial statements have been prepared under the historical cost convention,as modified by the revaluation of investment properties and certain financial assets,which are carried at fair values.The

42、 unaudited condensed consolidated financial statements do not include all the information and disclosures required in the annual report,and should be read in conjunction with the Groups annual report for the year ended 31 March 2024.In the current reporting period,the Group has applied,for the first

43、 time,certain new standards,amendments to standards and interpretations issued by the HKICPA that are mandatorily effective for its accounting period beginning on 1 April 2024.The adoption of these new and revised HKFRSs did not result in substantial changes to the Groups accounting policies and amo

44、unts reported for the current year and prior year.The Group has not yet applied new standards and amendments to existing standards that have been issued but not yet effective,and will apply such standards when they become effective.The Group anticipates that the application of the such new standards

45、 and amendments to existing standards have no material impact on the results and the financial position of the Group.Finet Group Limited-Interim Report 2024-2025133.Revenue and Other Income and Other LossesRevenue,which is also the Groups turnover,represents total invoiced value of goods supplied an

46、d services rendered.Revenue and other income and other losses recognised during the period are as follows:For the six months ended 30 September20242023HK$000HK$000UnauditedUnauditedRevenueService income from provision of financial information services566111Advertising and investor relationship servi

47、ce income1,7608,661Brokerage commission and service income from securities business12Rental income from investment properties1,8406064,1679,380Other income and other lossesIncome from sharing of administrative expenses1,5902,749Interest income914Gain on disposal of property,plant and equipment200Sun

48、dry income46701,6033,633Finet Group Limited-Interim Report 2024-2025144.Segment InformationThe chief operating decision-maker has been identified as the executive directors of the Company(the“executive Directors”).The executive Directors have reviewed the Groups internal reports in order to assess t

49、he performance and allocate resources;they have also determined the operating segments based on these reports.The executive Directors have further considered the business from product perspective and have assessed the performance of four main business segments:(i)financial information,advertising an

50、d investor relationship services business;(ii)securities business;(iii)money lending business;and(iv)property investment.At 30 September 2024,the Group is organized into four main operating segments:(i)Financial information,advertising and investor relationship service business the development,produ

51、ction and provision of financial information service and technology solutions to corporate and retail clients in Hong Kong and the PRC,this segment also includes results of the media business,providing advertising,investor relationship and branding promotion and communication service;(ii)Securities

52、business that specializes in the provision of brokerage,underwriting and asset management services;(iii)Money lending business;and(iv)Property investment business.Finet Group Limited-Interim Report 2024-202515Segment results for the six months ended 30 September 2024 about these businesses are as fo

53、llows:UnauditedFinancial information,advertising and investor relationship service businessSecurities businessMoney lending businessProperty investment businessGroupHK$000HK$000HK$000HK$000HK$000Revenue2,32611,8404,167Segment results(3,740)(369)(4)90(4,023)Finance costs(110)Loss before income tax(4,

54、133)Income tax expenseLoss for the period(4,133)Finet Group Limited-Interim Report 2024-202516Segment results for the six months ended 30 September 2023 about these businesses are as follows:UnauditedFinancial information,advertising and investor relationship service businessSecurities businessMoney

55、 lending businessProperty investment businessGroupHK$000HK$000HK$000HK$000HK$000Revenue8,77226069,380Segment results(1,545)(742)(2)278(2,011)Finance costs(33)Loss before income tax(2,044)Income tax expenseLoss for the period(2,044)Finet Group Limited-Interim Report 2024-202517For the six months ende

56、d 30 September20242023HK$000HK$000UnauditedUnauditedRevenue from contracts with customers Service income from provision of financial information services566111 Advertising and investor relationship service income1,7608,661 Brokerage commission and services income from securities business122,3278,774

57、Represented by:Timing of revenue recognition At a point in time1,7618,663 Over time5661112,3278,774Revenue from other sources Rental income from investment properties1,8406061,8406064,1679,380Finet Group Limited-Interim Report 2024-202518The segment assets and liabilities at 30 September 2024 are as

58、 follows:UnauditedFinancial information,advertising and investor relationship service businessSecurities businessMoney lending businessProperty investment businessGroupHK$000HK$000HK$000HK$000HK$000Assets46,9945,0273925,21977,279Liabilities30,2461598,12838,533The segment assets and liabilities at 31

59、 March 2024 are as follows:AuditedFinancial information,advertising and investor relationship service businessSecurities businessMoney lending businessProperty investment businessGroupHK$000HK$000HK$000HK$000HK$000Assets34,8655,0774026,13266,114Liabilities13,2191808,87322,272Finet Group Limited-Inte

60、rim Report 2024-2025195.Finance CostsFor the six months ended 30 September20242023HK$000HK$000UnauditedUnauditedInterest expenses on bank borrowings110 lease liabilities33110336.Loss Before Income TaxFor the six months ended 30 September20242023HK$000HK$000UnauditedUnauditedLoss before income tax is

61、 arrived at after charging:Expenses related to short-term leases/operating lease charges in respect of rental premises4502,084Depreciation of property,plant and equipment72130Depreciation of right-of-use assets1,5362,148Employee benefits expense(including directors emoluments)5,9717,001Finet Group L

62、imited-Interim Report 2024-2025207.Income Tax ExpenseNo Hong Kong profits tax has been provided for the six months ended 30 September 2024(2023:Nil)as the Group had no assessable profit arising in or derived from Hong Kong for the period.Under the law of the PRC on Enterprise Income Tax(the“EIT Law”

63、)and Regulations on the Implementation of the EIT Law,the PRC subsidiaries are subject to Enterprise Income Tax of tax rate of 25%.No Enterprise Income Tax for the PRC subsidiary has been provided during the six months ended 30 September 2024(six months ended 30 September 2023:Nil).The PRC income ta

64、x of nil during the six months ended 30 September 2024(six months ended 30 September 2023:Nil)was mainly attributable to the net rental income from the investment properties of the Company in the PRC.8.DividendThe Board does not recommend the payment of dividend for the six months ended 30 September

65、 2024(six months ended 30 September 2023:Nil).9.Loss Per Share a)BasicThe calculation of basic loss per share is based on the loss attributable to owners of the Company for the six months ended 30 September 2024 of approximately HK$4,301,000(six months ended 30 September 2023:loss of approximately H

66、K$3,781,000)and on the weighted average number of 999,808,161 shares in issue during the six months ended 30 September 2024(six months ended 30 September 2023:weighted average number of 797,661,156 shares in issue).b)DilutedThe computation of diluted loss per share for the six months ended 30 Septem

67、ber 2024 and 2023 did not assume the exercise of the Companys outstanding share options during those periods since they are anti-dilutive,as their exercise would result in a decrease in loss per share.Finet Group Limited-Interim Report 2024-20252110.Trade Receivables30 September 202431 March 2024HK$

68、000HK$000UnauditedAuditedTrade receivables(i)4,9955,836(i)The credit terms granted by the Group to its customers range from 10 days to 90 days.An aging analysis of trade receivables by invoice day as at the end of the reporting period is as follows:30 September 202431 March 2024HK$000HK$000Unaudited

69、Audited030 days628523160 days1806190 days19Over 90 days4,7344,9844,9955,83611.Cash and Cash EquivalentsFor the purpose of the statement of cash flow,cash and cash equivalents comprise the following at 30 September 2024:30 September 202431 March 2024HK$000HK$000UnauditedAuditedCash at banks and on ha

70、nd18,3078,551Finet Group Limited-Interim Report 2024-20252212.Accounts Payable30 September 202431 March 2024HK$000HK$000UnauditedAuditedAccounts payable arising from securities broking Clients148168Other accounts payable2,6182,6272,7662,795An aging analysis of accounts payable to suppliers of financ

71、ial information services business as at the end of the reporting period is as follows:30 September 202431 March 2024HK$000HK$000UnauditedAudited030 days863160 days1036190 days63Over 90 days2,6182,3752,6182,627Finet Group Limited-Interim Report 2024-20252313.Bank Borrowing30 September 202431 March 20

72、24HK$000HK$000UnauditedAuditedBank loan11,082At 30 September 2024,the Group had approximately HK$11.1 million loan(as at 31 March 2024:Nil)advanced from the bank in PRC.The bank loan was obtained to finance the Groups operations.The loan is secured by certain property,plant and equipment of the Grou

73、p with an aggregate carrying value of approximately HK$20.8 million,carrying interest at 3.25%per annum and repayable in five years.14.Share Capital30 September 202431 March 2024Number of sharesAmount HK$000Number of sharesAmount HK$000Authorized:Ordinary shares of HK$0.01 each15,000,000,000150,0001

74、5,000,000,000150,000 Issued and fully paid:At the beginning of the year999,808,1619,998666,538,7746,665Issue of shares upon rights issue333,269,3873,333At the end of the period999,808,1619,998999,808,1619,998Finet Group Limited-Interim Report 2024-20252415.Related Party TransactionsIn addition to th

75、e transactions and balances disclosed elsewhere in the unaudited condensed consolidated financial statements,the Group had the following related party transactions during the period:For the six months ended 30 September20242023HK$000HK$000UnauditedUnauditedIncome from financial information services

76、received from Top 100 Hong Kong Listed Company Research Centre Company Limited(note i)7203,000Incomes from sharing of administrative expenses received from International Links Limited (note i)360360Incomes from sharing of administrative expenses and marketing received from Maxx Capital Finance Limit

77、ed(note i)680907Income from sharing of administrative expenses received from China Hong Kong Finance Group Limited(note i)9141,122Rental expenses paid to Cyber Feel Limited (note i)1,6201,620Income from management services received from PR Smart Limited(note i)960960Note:(i)International Links limit

78、ed,Maxx Capital Finance Limited,Top 100 Hong Kong Listed Companies Research Centre Company Limited,China Hong Kong Finance Group Limited,Cyber Feel Limited and PR Smart Limited are beneficially owned by Ms.LO Yuk Yee,the chairman and the executive Director of the Company.16.Event After the Reporting

79、 PeriodSave as disclosed above,there were no any significant events subsequent to period end and up to the date of this report.Finet Group Limited-Interim Report 2024-202525MANAGEMENT DISCUSSION AND ANALYSISOverviewFinancial Information,Advertising and Investor Relationship Service BusinessThe servi

80、ce income generated from advertising and investor relationship business continues to be the major source of revenue of our Group.Service income from provision of financial information service business was relatively insignificant in recent years.Media BusinessIn addition to the production and distri

81、bution of programmes through the branding“FinTV”,the Group also engaged in investor relationship business and creative advertising.For the purpose of segment reporting in this annual results,the results of the media business has been included in the“Financial information,advertising and investor rel

82、ationship service business”segment.Securities Brokerage and Assets Management BusinessThe Group through its wholly-owned subsidiary,Finet Securities Limited,holds licence under the SFC(“Licence”),to engage in Type 1,4 and 9 regulated activities.The Group focuses on securities brokerage,underwriting

83、and asset management businesses.Property Investment BusinessThe investment properties in the PRC continued to provide income and result a positive contribution to the financial results of the Group.Money Lending BusinessThe Group holds Money Lenders Licence to engage in money lending business for pr

84、oviding loan and financing to customers.In order to minimize the default risk of loan receivable,we need to tighten our internal works of credit control measurement.The difficulties in granting loan became higher and relevant income is insignificant in recent years.Financial ReviewThe Group reported

85、 the revenue of approximately HK$4,167,000 for the six months ended 30 September 2024,representing a decrease of approximately 55.6%from approximately HK$9,380,000 for the same period in 2023.Finet Group Limited-Interim Report 2024-202526During the six months ended 30 September 2024,the Group record

86、ed cost of revenue amounting to approximately HK$264,000,representing a decrease of approximately 11.4%from approximately HK$298,000 for the same period in 2023.Other income and other losses of the Group recorded approximately HK$1,603,000 for the six months ended 30 September 2024(six months ended

87、30 September 2023:gain of approximately HK$3,633,000).General and administrative expenses of the Group for the six months ended 30 September 2024 was approximately HK$9,525,000(six months ended 30 September 2023:approximately HK$12,815,000),which represented a decrease of approximately 25.7%when com

88、pared to the same period of 2023.The decrease was mainly due to the decrease in staff costs and professional fee.Finance costs for the six months ended 30 September 2024 was approximately HK$110,000(six months ended 30 September 2023:approximately HK$33,000),which represented interest expenses on ba

89、nk borrowings and lease liabilities.Finance costs for the six months ended 30 September 2024 included interest expenses on bank borrowing.The Groups unaudited consolidated loss attributable to the owners of the Company for the six months ended 30 September 2024 was approximately HK$4,301,000(six mon

90、ths ended 30 September 2023:loss of approximately HK$3,781,000).Liquidity and Financial ResourcesAt 30 September 2024,the net current assets of the Group was approximately HK$18,136,000(At 31 March 2024:approximately HK$21,695,000);the total equity of the Group was approximately HK$38,746,000(At 31

91、March 2024:approximately HK$43,842,000);the cash and cash equivalents of the Group was approximately HK$18,307,000(At 31 March 2024:approximately HK$8,551,000);and no unutilised banking facilities of the Group(At 31 March 2024:Nil).Charges of AssetsAt 30 September 2024,certain property,plant and equ

92、ipment of the Group with aggregate carrying value of approximately HK$20,834,000(At 31 March 2024:Nil)were pledged as securities for the borrowing facilities of the Group.Gearing RatioThe Groups gearing ratio,representing net debt(bank and other borrowings and lease liabilities less cash and cash eq

93、uivalents)divided by total equity,was approximately 90.0%as at 30 September 2024(At 31 March 2024:approximately 98%).Finet Group Limited-Interim Report 2024-202527ProspectWe will continue to allocate our resources to strengthen our leading position in providing financial news services.With our compe

94、titive edge and strength arising from our integrated multiple platforms in our three vertical websites and two mobile App(Finet.hk,FinTV.hk,F,FinTV APP,Finet Finance Pro APP),we can achieve a further improvement in our market share in the media industry in China and Hong Kong,and further strengthen

95、our digital marketing business development.We will continue to strengthen our sales and marketing team to boost and diversify the Group revenue.Moreover,FinTV is expected to provide strong support to our investor relationship business(“IR business”).IR business is expected to become our profitable s

96、tream of the Group in the coming years.IR business will both cover the listed companies and pre-IPO assignments.The services that we have been providing include the followings:(1)production of promotional videos;(2)arrangement of press conferences and celebration events;(3)arrangement of investor me

97、etings;(4)preparing of investor relationship articles;(5)news distribution for the listed companies and pre-IPO assignments;and(6)online results announcement.Our outstanding FinTV production team will continue to support the growth and expansion of our IR business.The Group continues to host the TOP

98、 100 HK Listed Companies selection events that created a strong foundation for us to develop the event management business and to achieve lots of reputation and recognition in China including Hong Kong.Meanwhile,Finet Securities Limited(“Finet Securities”),our securities arm,continue to expand our s

99、ervices including discretionary portfolio management,investment advisory and management of private funds.Finet Securities is expected to generate satisfactory management fee and performance fee income from fund management business in near future.Significant Investments Held,Material Acquisitions and

100、 Disposals of Subsidiaries and Associated CompaniesAs at 30 September 2024,there was no significant investments held which exceed 5%of the total assets of the Group.The Group did not have any material acquisitions and disposals of subsidiaries and associated companies during the reporting period.Exp

101、osure to Fluctuation in Exchange RatesThe Group holds investment properties in Renminbi.The Group is therefore exposed to currency risks,as the rental income will fluctuate due to change in exchange rates.Finet Group Limited-Interim Report 2024-202528Contingent LiabilitiesDuring the year ended 31 Ma

102、rch 2008,three libel actions were brought by a company and an individual(collectively the“Plaintiffs A”)against the Group in respect of the publication of words alleged to be defamatory and concerning articles published on the Groups website in 2007.The Plaintiffs A sought,among other things,injunct

103、ive relief and unliquidated damages.The Executive Directors of the Company are of the opinion that the Group has a meritorious defense against such claims and therefore filed defense on 13 November 2007 and 9 April 2008 against all three libel actions consecutively.No further steps have been taken b

104、y the Plaintiffs A since the filing of the defense.During the year ended 31 March 2022,a way of a writ of summons by a company and a statement of claim were filed by a company(the“Plaintiff B”)on 10 October 2021 and 18 January 2022 respectively,the Plaintiff B commenced high court action 1578 of 202

105、1 against the Group alleging the Group having published/participated in the publication of defamatory statements against it.The Group has filed a defense on 19 April 2022 and the Plaintiff B has filed their reply on 27 July 2022.No further steps have been taken by Plaintiff B since the filing of the

106、 reply.Accordingly,the Executive Directors of the Company are of the opinion that these claims would not have any material adverse effect on the Group,and no provisions have been made in the consolidated financial statements in respect thereof.Disclosure Under Chapter 17 of the GEM Listing RulesThe

107、Directors confirmed that they were not aware of any circumstances which would give rise to disclosure requirement under Rules 17.15 to 17.21 of the GEM Listing Rules.Employee InformationAt 30 September 2024,the Group had 32(At 31 March 2024:52)full-time employees(including directors)in Hong Kong and

108、 the PRC.The total staff costs(including Directors remuneration)for the six months ended 30 September 2024 was approximately HK$5,971,000(six months ended 30 September 2023:approximately HK$7,001,000).Other benefits provided by the Group to the employees include contribution to the mandatory provide

109、nt fund under the Mandatory Provident Fund Schemes Ordinance and medical coverage.Events After the Reporting PeriodSave as disclosed above,there were no other significant events subsequent to the period end and up to the date of this report.Finet Group Limited-Interim Report 2024-202529OTHER INFORMA

110、TIONDirectors and Chief Executives Interests and Short Positions in the Shares and Underlying SharesSo far as is known to the Directors,as at 30 September 2024,the interests and short positions of the Directors and the chief executives of the Company in the shares,underlying shares and debentures of

111、 the Company or any of its associated corporations(within the meaning of Part XV of the Securities and Futures Ordinance(the“SFO”)as recorded in the register required to be kept under section 352 of the SFO or as otherwise notified to the Company and the Stock Exchange pursuant to the required stand

112、ard of dealings by directors of listed issuers as referred to in Rule 5.46 to 5.67 of the GEM Listing Rules,were as follows:Long Positions in the Shares and Underlying Shares of the Company and its Associated CorporationsNumber of shares and capacity in which the shares were heldName of DirectorName

113、 of Group member/associated corporationsBeneficial ownerInterest of controlled corporation%of shares in issue(Note 2)Executive Director:Ms.LO Yuk Yee (“Ms.LO”)The Company79,349,087(L)594,340,889(L)67.38%Ms.LOMaxx Capital International Limited(“Maxx Capital”)(Note 1)2 ordinary shares100%Ms.LOPablos I

114、nternational Limited(“Pablos”)(Note 1)1,000 ordinary shares100%(L)denotes long positionsNotes:1.594,340,889 ordinary shares were held by Maxx Capital which was wholly-owned by Pablos,and Pablos was wholly owned by Ms.LO.Accordingly,Ms.LO were deemed by virtue of the SFO to be interested in 673,689,9

115、76 ordinary shares.2.As at 30 September 2024,the Company had 999,808,161 ordinary shares in issue.Finet Group Limited-Interim Report 2024-202530Save as disclosed above,as at 30 September 2024,none of the Directors or chief executives of the Company nor their respective associates had any interests o

116、r short positions in the shares,underlying shares and debentures of the Company or any of its associated corporations(within the meaning of Part XV of the SFO)as recorded in the register required to be kept under section 352 of the SFO or as otherwise notified to the Company and the Stock Exchange p

117、ursuant to the required standard of dealings by directors of listed issuers as referred to in Rule 5.46 of the GEM Listing Rules.Substantial Shareholders Interest and Short Position in the Shares of the CompanyAs at 30 September 2024,so far as the Directors are aware,persons other than Directors or

118、chief executives of the Company who had interests or short positions in the shares or underlying shares of the Company as recorded in the register required to be kept under section 336 of the SFO,were as follows:Long Positions in the Shares and Underlying Shares of the CompanyName of ShareholdersCap

119、acityNumber of Shares heldApproximate percentage of existing shareholding(Note 2)Substantial shareholdersPablos(Note 1)Interest of Controlled Corporation594,340,889(L)59.45%Maxx Capital(Note 1)Beneficial Owner594,340,889(L)59.45%Broadgain International LimitedBeneficial Owner47,052,000(L)7.06%Wang Y

120、uanBeneficial Owner39,000,000(L)5.85%(L)denotes long positionsNotes:1.594,340,889 ordinary shares were held by Maxx Capital,which was wholly-owned by Pablos and Pablos was wholly-owned by Ms.LO,a director of the Company.Ms.LO is a director of each of Maxx Capital and Pablos.2.As at 30 September 2024

121、,the Company had 999,808,161 ordinary Shares in issue.Finet Group Limited-Interim Report 2024-202531Other Persons who are Required to Disclose Their InterestsSave as disclosed above,the Directors are not aware of other person who,as at 30 September 2024,had interests or short positions in the shares

122、 or underlying shares of the Company as recorded in the register required to be kept under section 336 of the SFO.Change in Information of Directors and Chief ExecutivesChange in Directors information since the date of approval on the Annual Report 2024 of the Company,which is required to be disclos

123、ure pursuant to Rule 17.50A(1)of the GEM Listing Rules,is set out below:With effect from 27 August 2024,Mr.YUK Kai Yao resigned as an independent non-executive Director,chairman of the Corporate Governance Committee and a member of the Audit Committee and Mr.LEE Chi Hung,Samuel appointed as an indep

124、endent non-executive Director,chairman of the Corporate Governance Committee and a member of the Audit Committee.Save as disclosed above,during the six months ended 30 September 2024 and up to the date of this interim report,there has been no change in Directors of the Company,and there is no other

125、information that is required to be disclosed pursuant to Rule 17.50A(1)of the GEM Listing Rules.Movement of OptionsDetails of movements of the share options granted under the share option scheme adopted on 4 September 2014 for the six months ended 30 September 2024 are as follows:Number of share opt

126、ionsName of granteeDate of grant Exercise priceBalance as at 1 April 2024Granted during the periodForfeited during the periodBalance as at 30 September 2024(Note 1)(Note 2)Employee1 December 2020HK$0.55239,618,040(579,400)9,038,640Finet Group Limited-Interim Report 2024-202532Notes:1.For share optio

127、ns granted on 1 December 2020Validity period:From 1 December 2020(“Date of grant”)to 3 September 2024(both days inclusive)Vesting period:2 years after 1 December 2020100%2.Allotment and issue new shares under Rights Issue.Competing InterestsNone of the Directors nor the controlling shareholder of th

128、e Company nor any of their respective close associates(as defined in GEM Listing Rules)had any interest in a business that competed or was likely to compete,either directly or indirectly,with the business of the Group,other than being a director of the Company and/or its subsidiaries.Audit Committee

129、The Company established an audit committee with written terms of reference in accordance with Rule 5.28 and 5.29 of the GEM Listing Rules.The audit committee of the Company comprises three members who are independent non-executive directors,namely,Mr.WONG Wai Kin(Chairman),Mr.WONG Kwok Yin and Mr.LE

130、E Chi Hung,Samuel,with written terms of reference in accordance with code provision D.3.3 and D.3.7 of the CG Code.The principal duties of the audit committee of the Company are to review and supervise the financial reporting process and internal control procedures of the Group.The unaudited condens

131、ed consolidated financial statements of the Group for the six months ended 30 September 2024 have been reviewed by the audit committee of the Company.Directors Interest in ContractsExcept for the transactions stated in Note 15 to the unaudited condensed consolidated financial statements,no contracts

132、 of significance in relation to the Groups business to which the Group was a party and in which any of the Directors had a material interest,whether directly or indirectly,subsisted during or at the end of the six months ended 30 September 2024 or at any time during such period(2023:Nil).Finet Group

133、 Limited-Interim Report 2024-202533Securities Transactions by DirectorsThe Company has adopted the required standard of dealings(“Required Standard of Dealings”)as set out in Rules 5.48 to 5.67 of the GEM Listing Rules as the code of conduct regarding securities transactions by the Directors.Specifi

134、c enquiry has been made with all Directors and Directors have confirmed that they have complied with the Required Standard of Dealings throughout the six months ended 30 September 2024.The Company has adopted a compliance manual for securities transactions by senior management as written guidelines

135、no less exacting that the Required Standard of Dealings for relevant employees(“Written Guidelines”)in respect of dealing in the Companys share.During the six months ended 30 September 2024,the Company is not aware of any incident of non-compliance of the Required Standard of Dealings and Written Gu

136、idelines by the relevant employees.Purchase,Sale or Redemption of the Company Listed SharesNeither the Company nor any of its subsidiaries had purchased,sold or redeemed any of the Companys listed shares during the six months ended 30 September 2024.Corporate Governance PracticesThe Board considers

137、good corporate governance a key element in managing the business and affairs of the Group.The Company has complied with the code provisions as set out in the Code on Corporate Governance Practices(“CG Code”)contained in Appendix C1 to the GEM Listing Rules during the six months ended 30 September 20

138、24,except for the following deviation:Code provision C.2.1 of the CG Code stipulates that the roles of the chairman and the chief executive officer should be separate and should not be the same individual.Ms.LO Yuk Yee is the chairman of our Board and she has been managing the Groups business and su

139、pervising the overall operations of the Group since 2011.The Directors consider that vesting the roles of the chairman of the Board and the chief executive officer of the Company in Ms.LO is beneficial to the management and business development of the Group and will provide a strong and consistent l

140、eadership to the Group.The Board will continue to review and consider separating the roles of the chairman of the Board and the chief executive officer at a time when it is appropriate by taking into account the circumstances of the Group as a whole.Finet Group Limited-Interim Report 2024-202534The

141、Company has not arranged insurance cover in respect of legal action against its directors as the Board considers that the Board adopts prudent management policy.The needs for insurance policy will be reviewed from time to time.AppreciationThe Board would like to take this opportunity to express its

142、sincere gratitude to the Groups customers,business partners and shareholders for their continuous support for and trust in the Group.The Board also wishes to express its heartfelt appreciation to all of the staff of the Group for their dedication and hard work throughout the period.By Order of the Board LO Yuk Yee Chairman and executive DirectorHong Kong,29 November 2024As at the date of this report,the executive Directors are Ms.LO Yuk Yee and Mr.TAI Kwok Leung,Alexander;and the independent non-executive Directors are Mr.WONG Wai Kin,Mr.WONG Kwok Yin and Mr.LEE Chi Hung,Samuel.