International Genius Company (33) H2 2023 earnings summary

Executive summary

• Revenue increased by 12.99% year-over-year to HK$333.96 million, driven by a strong recovery in the trading of commodities post-pandemic.

• Net loss attributable to equity shareholders was HK$38.71 million, reversing from a profit of HK$41.38 million in the prior year, mainly due to the absence of revenue from securities brokerage and asset management.

• Operating expenses decreased by 17.57% to HK$39.36 million due to stringent cost controls.

Financial highlights

• Gross profit dropped sharply to HK$3.18 million from HK$50.83 million year-over-year.

• Loss per share was HK$7.21 cents, compared to earnings per share of HK$7.70 cents last year.

• No final dividend was recommended or paid for the year.

• Cash and bank balances stood at HK$89.08 million as of 30 June 2023.

Outlook and guidance

• The Group plans to accelerate restructuring, focus on stable profits, and deepen research in program trading and AI trading technology for sustainable long-term growth.