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Public company info - Goldstone Capital Group Limited , 01160.HK

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Goldstone Capital Group Limited, 01160.HK - Company Profile
Chairman Xu Yanfa
Share Issued (share) 173,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Investments & Assets Management
Corporate Profile Business Summary: The Company is principally engaged in investing in listed and unlisted enterprises established in Hong Kong, the People’s Republic of China and Macau with potential for earnings growth and capital appreciation. Performance for the year: For the year ended 31 March 2021, the Company recorded a loss for the year of approximately HK$8,379,000 (2020: loss of approximately HK$10,215,000), representing a decrease in loss for the year of approximately HK$1,836,000 as compared with the year ended 31 March 2020. Business Review: In June 2020, the Company engaged a new investment manager, INV Advisory Limited, to manage the investment portfolio of the Company. During the Year, the Group focused on managing the existing investment of the Company and made no new investment. In the first quarter of 2021, Hong Kong’s economy recovered remarkably thanks to the very strong growth of exports of goods as well as a significant rebound in global demand. Real Gross Domestic Product (GDP) appreciated and resulted a year-on-year growth of 7.9%, ending six consecutive quarters of contraction. Recovery in the global economy continued led by the strong economic performance of the Mainland and the US. Many economies in Asia improved further amid vibrant regional production and trading activities. Low interest rate environment in the region continued, as the US maintained the target range for the Federal Funds Rate unchanged at the record low level of 0.00-0.25%. Hong Kong dollar interbank interest rates and interest rates on the retail front stayed at low levels. On the other hand, the local stock market showed some volatility. The Hang Seng Index (HSI) retreated to 28,801 on 18 June as market sentiment became cautious on rising inflation expectations in the US and concerns over possible monetary tightening in the Mainland. While the market hoped for a sustained global economic recovery with the rollout of mass COVID-19 vaccination programmes in many economies, rising inflation expectations in the US and concerns over possible monetary tightening in the Mainland retreated investments. Prospects: In the coming financial year, the Group will actively raise capital for the Group’s investment management purpose. Focus would be made on post-vaccine recovery and underperformed investment opportunities. The Group shall cautiously examine the possibility of US interest rate increase and adjust the Group’s investment strategy accordingly.

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