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Public company info - Combest Holdings Ltd. , 08190.HK

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Combest Holdings Ltd., 08190.HK - Company Profile
Chairman -
Share Issued (share) 3,842,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Investments & Assets Management
Corporate Profile Business Summary: The group is principally engaged in three business segments, namely (i) money lending represent provision of credits (ii) advisory services include provision of consultancy services and company secretarial service and (iii) investment management services to investment funds and managed accounts. Performance for the year: During the year, the Group recorded a revenue of approximately HK$71,236,000 (2017: HK$53,570,000)representing an increase of 33.0% as compared to that in previous year. The Group recorded a loss before income tax from continuing operations of approximately HK$31,750,000 for the year ended 30 June 2018, compared to profit approximately HK$15,363,000 in previous year. Business Review: Continuing operations During the year, the Group recorded a revenue of approximately HK$71,236,000 (2017: HK$53,570,000)representing an increase of 33.0% as compared to that in previous year. The Fund Management Services Segment contributed approximately HK$64,646,000 (2017: HK$12,135,000), the Money Lending Segment and the Advisory Services Segment contributed approximately HK$2,830,000 and HK$3,760,000 respectively (2017: HK$14,680,000 and HK$26,755,000). More than 90% turnover is sourced from the Fund Management Service Segment. The turnover of the Money Lending Segment and the Advisory Services Segment are decreased because of the decreased interest income and consultancy fee income. The staff costs for the year were approximately HK$3,666,000 (2017: HK$3,140,000), representing an increase of approximately 16.8% because of the improvement of remuneration policy during the year. The other operating expenses for the year were approximately HK$4,864,000 (2017: HK$10,109,000),representing a decrease of approximately 51.9%. The Group recorded approximately HK$42,716,000 non-capitalized finance costs for the year (2017:HK$24,958,000). The increase in finance costs was mainly due to the increase in cost of borrowings of the Group. Discontinued Operations The Group recorded a profit of approximately HK$41,023,000 because of a disposal gain of approximately HK$48,884,000 arising from the disposal of the Diamond Globe Investment Ltd. and its subsidiaries (the “Diamond Globe Group”) for year ended 30 June 2017. Prospects: As a cumulative effect of the foregoing factors, the Group recorded a loss before income tax from continuing operations of approximately HK$31,750,000 for the year ended 30 June 2018, compared to profit approximately HK$15,363,000 in previous year. It is mainly due to (i) decrease in turnover of the money lending business and the advisory business; (ii) increase in finance cost; and (iii) the impairment of goodwill amounting HK$51,740,000 in the Advisory Services Segment for the year. Income tax expenses from continuing operations increased to approximately HK$6,998,000 for the year ended 30 June 2018 from approximately HK$1,401,000 in previous year. As a result, together with the absence of the gain on disposal of discontinued operations compared to corresponding period of 2017, the Group had recorded a loss after tax of approximately HK$38,748,000 for the year ended 30 June 2018 (2017: profit of approximately HK$54,985,000).

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