XML 19 R12.htm IDEA: XBRL DOCUMENT
v3.23.1

Revenue, Other Income And Other Gain | 12 Months Ended
--- | ---
Dec. 31, 2022
Disclosure of disaggregation of revenue from contracts with customers [abstract] |
Revenue, Other Income And Other Gain |
5. | REVENUE, OTHER INCOME AND OTHER GAIN
A. Revenue 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$213,791,063, respectively (Note 29(A)(ii)).
| (i) | Disaggregated revenue information
The Company assesses revenues based upon the nature or type o f goods or services it provides and the operating segments of the related businesses. For more information on the operating segments, see Note 4, “Operating Segment Information”. The following tables present disaggregated revenue information: For the year ended December 31, 2020
Segments |  | Capital market solutions |  |  | Strategic investment |  |  | Total |
|  | HK$ |  |  | 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 |
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 |
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 |
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 |
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 |
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 |
The following table shows the amount of revenue recognized in the current period that were included in the contract liabilities at the beginning of the reporting period:
|  | For the year ended December 31, |
|  | 2021 |  |  | 2022 |
|  | HK$ |  |  | HK$ |
Revenue recognized that was included in contract liabilities at the beginning of the reporting period |  |  |  |  |  |  |  |
Capital market solutions |  |  | 46,640,036 |  |  |  | 630,962 |
| (ii) | 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 |
The performance obligations expected to be recognized in more than one year relate to upfront fee that are to be satisfied within two years. All the other remaining performance obligations are expected to be recognized within one year. B. 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 is HK $45,272,261 derived from loan notes due from independent third parties related to the disposal of investments during the year ended December 31, 2022.
| (b) | During the year ended December 31, 2022, the Group recognized government grants of HK$ 1,184,000 (2021: Nil ; 2020: HK$ 3,061,665) f rom the Employment Support Scheme provided by the Hong Kong Government in connection with the COVID-19 related subsidies.
C. Other gain Other gain of HK$153,487,985 consists of (i) gain on bargain purchase of HK$37,966,405 with details inc luded in Note 34; and (ii) gain on disposal of subsidiaries of HK$115,521,580. During the year ended December 31, 2022, the Group disposed of certain subsidiaries at a cash consideration of HK$350,000,000 , which is included in other receivables and settled in January 2023, to certain independent third part ies . The net assets of these subsidiaries, in aggregate, are HK$248,235,650 , which mainly consisted of cash and cash equivalents of HK$ 144,050,060 , accounts receivable of HK$200,036,799, other assets of HK$598,415,823 and accounts payable of HK$690,228,623 .

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for revenue. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_10_e&doctype=Standard -URIDate 2022-03-24 + Details
Name: | ifrs-full_DisclosureOfRevenueExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration