CONTENTS

  1. Corporate Information
  2. Financial Highlights
  3. Management Discussion and Analysis

15 Condensed Consolidated Statement of

  Profit or Loss and Other Comprehensive Income

17 Condensed Consolidated Statement of Financial Position

  1. Condensed Consolidated Statement of Changes in Equity
  2. Condensed Consolidated Statement of Cash Flows
  3. Notes to the Interim Condensed Consolidated   Financial Statements

52 Other Information

CORPORATE INFORMATION

BOARD OF DIRECTORS

Executive Directors

Mr. Chu, Nicholas Yuk-yui(Chairman) Mrs. Chu Yuet Wah

  • (Chief Executive Officer) Mr. Chu, Kingston Chun Ho Mr. Ho Chi Ho

Independent Non-executive Directors

Mr. Lau Man Tak

Ms. Lo, Miu Sheung Betty

Mr. Chiu Sin Nang, Kenny

COMPANY SECRETARY

Mr. Chan Chun Lam

  • (resigned on 10 August 2021) Mr. Cheung Kai Fung
  • (appointed on 10 August 2021 and
  • resigned on 18 November 2021) Mr. Wong Wai Ming
  • (appointed on 18 November 2021)

AUDIT COMMITTEE

Mr. Lau Man Tak (Chairman)

Ms. Lo, Miu Sheung Betty

Mr. Chiu Sin Nang, Kenny

REMUNERATION COMMITTEE

Ms. Lo, Miu Sheung Betty (Chairman)

Mr. Lau Man Tak

Mr. Chiu Sin Nang, Kenny

NOMINATION COMMITTEE

Mr. Chiu Sin Nang, Kenny (Chairman)

Mr. Lau Man Tak

Ms. Lo, Miu Sheung Betty

AUDITORS

BDO Limited

25th Floor Wing On Centre

111 Connaught Road Central

Hong Kong

PRINCIPAL BANKERS

The Hongkong and Shanghai Banking

  Corporation Limited

The Bank of East Asia, Limited

Chong Hing Bank Limited

Hang Seng Bank Limited

BERMUDA LEGAL ADVISERS

Conyers Dill & Pearman

Room 2901, One Exchange Square

8 Connaught Place, Central

Hong Kong

REGISTERED OFFICE

Clarendon House

2 Church Street

Hamilton HM11

Bermuda

PRINCIPAL PLACE OF BUSINESS IN HONG KONG

72/F, The Center

99 Queen's Road Central

Central, Hong Kong

PRINCIPAL SHARE REGISTRARS AND TRANSFER OFFICE

MUFG Fund Services (Bermuda) Limited 4th floor North Cedar House

41 Cedar Avenue

Hamilton HM12 Bermuda

BRANCH SHARE REGISTRARS AND TRANSFER OFFICE IN HONG KONG

Tricor Abacus Limited

Level 54, Hopewell Centre

183 Queen's Road East

Hong Kong

STOCK CODE

1031

WEBSITE

http://www.kingston.com.hk

2

Kingston Financial Group Limited

Interim Report 2021

FINANCIAL HIGHLIGHTS

  • Turnover for the six months ended 30 September 2021 decreased by approximately 10% to approximately HK$913,132,000 when compared to approximately HK$1,009,211,000 in the corresponding period of last year.
  • Profit attributable to the owners of the Company for the six months ended 30
    September 2021 decreased significantly by approximately 99% to approximately HK$2,478,000 when compared to approximately HK$169,015,000 in the corresponding period of last year. The decrease was primarily attributable to an increase in impairment loss on advances to customers in margin financing.
  • Earnings per share for the six months ended 30 September 2021 decreased by approximately 99% to approximately HK0.01 cents when compared to approximately HK0.97 cents in the corresponding period of last year.

Kingston Financial Group Limited

3

Interim Report 2021

MANAGEMENT DISCUSSION AND ANALYSIS

On behalf of the board of directors (the "Board") of Kingston Financial Group Limited (the "Company"), I am pleased to announce the interim results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 September 2021 (the "Period").

OVERVIEW

The Group is principally engaged in the provision of a wide range of financial services including securities brokerage, underwriting and placements, margin and initial public offering ("IPO") financing, corporate finance advisory services and futures brokerage services. The Group also provides gaming and hospitality services in Macau.

Total unaudited revenue recorded by the Group for the Period amounted to approximately HK$913,132,000, representing a decrease of approximately 10% as compared to approximately HK$1,009,211,000 for the six months ended 30 September 2020 (the "Previous Period").

The unaudited profit attributable to owners of Company for the Period amounted to approximately HK$2,478,000, representing a decrease of approximately 99% as compared to approximately HK$169,015,000 for the Previous Period. The decrease was primarily attributable to an increase in impairment loss on advances to customers in margin financing. Basic earnings per share for the Period decreased by approximately 99% to approximately HK0.01 cents as compared to approximately HK0.97 cents in the Previous Period.

BUSINESS AND FINANCIAL REVIEW

During the Period, countries encouraged vaccination in response to the spread of the novel coronavirus (COVID-19), but the evolving COVID-19 variants continued to affect the global economy and supply chain, while central banks had to face rising inflation and slow employment growth. The local outbreak has been relatively under control and the retail market has been picking up, but preventive measures and isolation policies are still in place. The Census and Statistics Department announced that gross domestic product (GDP) rose by approximately 5.4% year-on-year in the third quarter of this year, compared to approximately 7.6% in the second quarter. The more moderate growth in the third quarter was mainly due to the base effect and the stronger-than-expected performance of the economy in the first half of the year.

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Kingston Financial Group Limited

Interim Report 2021

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Disclaimer

Kingston Financial Group Ltd. published this content on 23 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2021 12:16:05 UTC.