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Public company info - Da Yu Financial Holdings Limited , 01073.HK
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Da Yu Financial Holdings Limited, 01073.HK - Company Profile
Chairman Li Chi Kong
Share Issued (share) 1,139,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Securities
Corporate Profile Business Summary: The Group is a licensed corporation under the Hong Kong Securities and Futures Ordinance and principally engaged in activities including dealing in securities, advising on securities, advising on corporate finance and asset management. Performance for the year: For the six-month period from 1 July 2019 to 31 December 2019, the Group’s revenue was approximately HK$46.8 million (year ended 30 June 2019: Nil). Profit attributable to the owners of the Company in the six-month period from 1 July 2019 to 31 December 2019 was approximately HK$842.3 million (year ended 30 June 2019: loss of approximately HK$13.9 million). Business Review For the six-month period from 1 July 2019 to 31 December 2019 (the “Current Reporting Period”), Da Yu Financial Holdings Limited (the “Company”) and its subsidiary (the “Group”) are principally engaged in the provision of corporate finance advisory services and asset management services through its wholly-owned subsidiary, Yu Ming Investment Management Limited (“Yu Ming”). Yu Ming is a financial services provider engaged in the provision of corporate finance advisory services and asset management services. Yu Ming is licensed to carry out Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance) and Type 9 (asset management) regulated activities under the Securities and Futures Ordinance. During the Current Reporting Period, the corporate finance advisory services provided by Yu Ming mainly included the following: (i) acting as financial adviser to advise listed issuers, shareholders and investors of listed issuers and entities on specific transactions in respect of the Listing Rules, the GEM Listing Rules and/or the Takeovers Code; (ii) acting as independent financial adviser to listed issuers to provide independent advice required under the Listing Rules, the Takeovers Code or other specific circumstances; and (iii) acting as financial adviser to listed issuers on retainer basis to advise listed issuers on corporate strategies and compliance with the Listing Rules, the GEM Listing Rules and the Takeovers Code. Prospects: Yu Ming has been active in its corporate finance and asset management business since its inception in 1997. Though Yu Ming has secured significant mandates in January and February, the repercussions of the PRC travel restrictions caused by the coronavirus create low visibility to The Group’s corporate finance advisory operations:– 1. Since face to face meetings have been the common interface with clients, the challenges Yu Ming faces in 2020 will be the difficulties of meeting PRC clients in the corporate finance business, where client instructions and professional parties’ discussions are most effective in physical meetings. 2. Some of The Group’s works involve reviewing recommendations or decisions of the Stock Exchange where The Group and clients physically attend to make effective representation at listing committee hearings. The imposition of a 14-day quarantine on PRC clients travelling to Hong Kong with a standard seven-day stay permit make it impossible for them to attend those hearings physically. If hearings are postponed, the income recognition of such mandates would likewise be postponed. If the hearings are held with a conference call, the clients would not be able to make an effective representation face-to-face with the listing committee members. Therefore, the travel restrictions are expected to affect revenue, but the extent is too early to conclude. Other than the coronavirus, the aggressive regime adopted by the Stock Exchange in the past two years in delisting listed companies created new business opportunities for Yu Ming. The Group will continue to maintain The Group’s presence in assisting listed companies to minimise procedural abuses in the delisting process.

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