Revenue, Other Income And Other Gain (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of disaggregation of revenue from contracts with customers [line items]

An analysis of revenue is as follows:

	For the year ended December 31,
	2020			2021			2022
	HK$			HK$			HK$

Revenue from contracts with customers
Capital market solutions
Underwriting commission		165,472,605			29,051,940			94,528,263
Financial advisory fee		210,852,275			568,045,723			427,723,245
Management fee and performance-based incentive fee		196,352,216			57,230,194			16,791,083
Brokerage and handling fees		33,359,007			25,356,917			42,313,366
Others		1,227,022			792,862			576,736

		607,263,125			680,477,636			581,932,693

Digital solutions and other services
Insurance brokerage services commission		—			—			8,145,147
Digital solutions fees		—			—			175,427,849

		—			—			183,572,996
Fashion and luxury media advertising and marketing services
Fashion and luxury magazines and advertising services income		—			—			28,254,167
Fashion and luxury media licensing and marketing services income		—			—			31,424,904

		—			—			59,679,071
Revenue from other sources
Strategic investment
Dividend income		88,078,159			48,711,208			50,213,509
Gain related to disposed investments		82,948,508			125,112,176			173,129,345

		171,026,667			173,823,384			223,342,854
Net fair value changes on financial assets at fair value through profit or loss
-from listed equity shares, at quoted price		(371,305,326	)		54,008,047			(378,012,020	)
-from unlisted equity shares and movie income right investments (note a)		313,561,520			543,543,197			216,605,145
-from unlisted equity linked notes		26,688,861			—			—

Total net fair value changes on financial assets at fair value through profit or loss		139,971,722			771,374,628			61,935,979

Net fair value changes on derivative financial assets
-from derivative financial assets		371,305,326			(54,008,047	)		484,760,273

		511,277,048			717,366,581			546,696,252

Total revenue		1,118,540,173			1,397,844,217			1,371,881,012

Note:

(a)

For the year ended December 2020, 2021 and 2022, net fair value gain arising from investments in equity securities of related parties are HK$336,403,752, HK$545,199,207and HK$213,791,063, respectively (Note 29(A)(ii)).

Summary of revenue from contracts with customers

For the year ended December 31, 2020


Segments	Capital market solutions		Strategic investment			Total
	HK$		HK$			HK$

Revenue from contracts with customers
Capital market solutions
Underwriting commission		165,472,605		—			165,472,605
Financial advisory fee		210,852,275		—			210,852,275
Management fee and performance-based incentive fee		196,352,216		—			196,352,216
Brokerage and handling fee s		33,359,007		—			33,359,007
Others		1,227,022		—			1,227,022

Sub-total		607,263,125		—			607,263,125
Revenue from other sources

Strategic investment
Net fair value changes on financial assets at fair value through profit or loss		—		(31,054,945	)		(31,054,945	)
Net fair value changes on derivative financial assets		—		371,305,326			371,305,326
Gain related to disposed investments		—		82,948,508			82,948,508
Dividend income		—		88,078,159			88,078,159

Total		607,263,125		511,277,048			1,118,540,173

For the year ended December 31, 2021


Segments	Capital market solutions		Strategic investment			Total
	HK$		HK$			HK$
Revenue from contracts with customers
Capital market solutions
Underwriting commission		29,051,940		—			29,051,940
Financial advisory fee		568,045,723		—			568,045,723
Management fee and performance-based incentive fee		57,230,194		—			57,230,194
Brokerage and handling fee s		25,356,917		—			25,356,917
Others		792,862		—			792,862

Sub-total		680,477,636		—			680,477,636
Revenue from other sources

Strategic investment
Net fair value changes on financial assets at fair value through profit or loss		—		597,551,244			597,551,244
Net fair value changes on derivative financial assets		—		(54,008,047	)		(54,008,047	)
Gain related to disposed investments		—		125,112,176			125,112,176
Dividend income		—		48,711,208			48,711,208

Total		680,477,636		717,366,581			1,397,844,217

For the year ended December 31, 2022



Segments	Capital market solutions		Digital solutions and other services		Fashion and luxury media advertising and marketing services		Strategic investment			Total
	HK$		HK$		HK$		HK$			HK$
Revenue from contracts with customers
Capital market solutions
Underwriting commission		94,528,263		—		—		—			94,528,263
Financial advisory fee		427,723,245		—		—		—			427,723,245
Management fee and performance-based incentive fee		16,791,083		—		—		—			16,791,083
Brokerage and handling fee s		42,313,366		—		—		—			42,313,366
Others		576,736		—		—		—			576,736

Digital solutions and other services
Insurance brokerage services		—		8,145,147		—		—			8,145,147
Digital solutions fees		—		175,427,849		—		—			175,427,849

Fashion and luxury media advertising and marketing services
Fashion and luxury magazines and advertising services income		—		—		28,254,167		—			28,254,167
Fashion and luxury media licensing and marketing services income		—		—		31,424,904		—			31,424,904

Sub-total		581,932,693		183,572,996		59,679,071		—			825,184,760
Revenue from other sources

Strategic investment
Net fair value changes on financial assets at fair value through profit or loss		—		—		—		(161,406,875	)		(161,406,875	)
Net fair value changes on derivative financial assets		—		—		—		484,760,273			484,760,273
Gain related to disposed investments		—		—		—		173,129,345			173,129,345
Dividend income		—		—		—		50,213,509			50,213,509

Total		581,932,693		183,572,996		59,679,071		546,696,252			1,371,881,012

Summary of other income


	For the year ended December 31,
	2020		2021		2022
	HK$		HK$		HK$

Bank interest income		67,783		15,174		12,332
Other interest income (note a)		—		—		51,304,121
Interest income from the immediate holding company (Note 2 9 (A)(iv)) (Note 2 9 (B)(i))		101,159,079		116,028,045		75,991,943
Government grant (note b)		3,061,665		—		1,184,000
Others		7,578,941		9,494,952		12,969,150

		111,867,468		125,538,171		141,461,546

Notes:

(a)

Included in the other interest income

$45,272,261

derived from loan notes due from independent third parties related to the disposal of investments during the year ended December 31, 2022.

(b)

During the year ended December 31, 2022, the Group recognized government grants of HK$

1,184,000

(2021:

Nil

; 2020: HK$

3,061,665)

rom the Employment Support Scheme provided by the Hong Kong Government in connection with the COVID-19 related subsidies.

Summary of timing of revenue recognition


Segments	Capital market solutions
	HK$
Timing of revenue recognition
Services transferred at a point in time		200,058,634
Services transferred over time		407,204,491

Total revenue from contracts with customers		607,263,125


Segments	Capital market solutions
	HK$
Timing of revenue recognition
Services transferred at a point in time		623,008,452
Services transferred over time		57,469,184

Total revenue from contracts with customers		680,477,636


Segments	Capital market solutions		Digital solutions and other services		Fashion and luxury media advertising and marketing services		Total
	HK$		HK$		HK$		HK$
Timing of revenue recognition
Services transferred at a point in time		565,141,610		8,145,147		28,254,167		601,540,924
Services transferred over time		16,791,083		175,427,849		31,424,904		223,643,836

Total revenue from contracts with customers		581,932,693		183,572,996		59,679,071		825,184,760

Digital Solutions And Serivces [Member]

Disclosure of disaggregation of revenue from contracts with customers [line items]

Summary of transaction prices allocated to the remaining performance obligations

The transaction prices allocated to the remaining performance obligations of digital solutions services (unsatisfied or partially unsatisfied) as of December 31, 2021 and December 31, 2022 are as follows:

For digital solutions services


	As of December 31,
	2021		2022
	HK$		HK$



Within one year		—		204,702,968
More than one year		—		101,443,644

		—		306,146,612