| Fiscal Year Ended March 31, 2024 | ||||||||
| $’000 | % | |||||||
| Biogts Green Energy Co Limited | 1,232 | 29 | % | |||||
| Scienjoy Holding Corporation | 1,100 | 26 | % | |||||
| Solomon Capital Fund SPC | 815 | 19 | % | |||||
| For the years ended March 31, | ||||||||||||||||
| 2024 | 2023 | |||||||||||||||
| (in thousands) | % of revenue | (in thousands) | % of revenue | |||||||||||||
| Securities brokerage commissions and handling income | 51 | 1 | % | 74 | 2 | % | ||||||||||
| Investment advisory fees | 2,860 | 67 | % | 2,515 | 56 | % | ||||||||||
| Corporate consultancy service income | 120 | 3 | % | 951 | 21 | % | ||||||||||
| Asset management income | 871 | 20 | % | 389 | 9 | % | ||||||||||
| Interest income | 128 | 3 | % | 27 | 1 | % | ||||||||||
| Referral income | 261 | 6 | % | 497 | 11 | % | ||||||||||
| Total | 4,291 | 100 | % | 4,453 | 100 | % | ||||||||||
| For the years ended March 31, | ||||||||||||
| 2024 | 2023 | 2022 | ||||||||||
| $’000 | $’000 | $’000 | ||||||||||
| Revenues | ||||||||||||
| Securities brokerage commissions and handling income | 51 | 74 | 1,844 | |||||||||
| Investment advisory fees | 2,860 | 2,515 | 728 | |||||||||
| Corporate consultancy service income | 120 | 951 | - | |||||||||
| Asset management income - related parties | 871 | 389 | 333 | |||||||||
| Interest income | 128 | 27 | 351 | |||||||||
| Referral income | 261 | 497 | - | |||||||||
| Total revenues | 4,291 | 4,453 | 3,256 | |||||||||
| Expenses | ||||||||||||
| Marketing and promotion expenses | 927 | 329 | 51 | |||||||||
| Marketing and promotion expenses - related parties | - | 115 | 652 | |||||||||
| Commission and handling expenses | 15 | 7 | 1,370 | |||||||||
| Professional fee | 774 | 371 | 199 | |||||||||
| Information technology expenses | 383 | 439 | 332 | |||||||||
| Office expenses | 342 | 227 | 231 | |||||||||
| Allowance for expected credit losses | 854 | 18 | 99 | |||||||||
| Employee benefits expenses | 5,043 | 1,289 | 944 | |||||||||
| Interest expenses | - | - | 229 | |||||||||
| Share of results of an associate | 3 | - | - | |||||||||
| Other general and administrative expenses | 383 | 370 | 325 | |||||||||
| Total expenses | 8,724 | 3,165 | 4,432 | |||||||||
| Other income | ||||||||||||
| Interest income | 29 | - | 1 | |||||||||
| Other income | 3 | 61 | 196 | |||||||||
| Total other income | 32 | 61 | 197 | |||||||||
| (Loss) income before income tax expense | (4,401) | 1,349 | (979) | |||||||||
| Income tax expense | 155 | - | - | |||||||||
| Net (loss) income | (4,556) | 1,349 | (979) | |||||||||
| Other comprehensive (loss) income | ||||||||||||
| Foreign currency translation adjustment | 16 | (8) | (5) | |||||||||
| Total comprehensive (loss) income | (4,540) | 1,341 | (984) | |||||||||
| Basic and diluted net (loss) income per share* | (0.33) | 0.11 | (0.09) | |||||||||
| Weighted average number of shares outstanding - basic and diluted* | 13,724,658 | 12,000,000 | 10,364,300 | |||||||||
| Ordinary shares | Additional | Accumulated other | Total | |||||||||||||||||||||
| Number of shares* | Amount | paid-in capital | Accumulated losses | comprehensive losses | shareholders’ equity | |||||||||||||||||||
| $’000 | $’000 | $’000 | $’000 | $’000 | ||||||||||||||||||||
| Balance as of April 1, 2021 | 8,081,300 | 1 | 3,265 | (1,798) | (4) | 1,464 | ||||||||||||||||||
| Shareholders’ contribution | 3,918,700 | - | ** | 1,520 | - | - | 1,520 | |||||||||||||||||
| Foreign currency translation adjustment | - | - | - | - | (5) | (5) | ||||||||||||||||||
| Net loss | - | - | - | (979) | - | (979) | ||||||||||||||||||
| Balance as of March 31, 2022 | 12,000,000 | 1 | 4,785 | (2,777) | (9) | 2,000 | ||||||||||||||||||
| Foreign currency translation adjustment | - | - | - | - | (8) | (8) | ||||||||||||||||||
| Net income | - | - | - | 1,349 | - | 1,349 | ||||||||||||||||||
| Balance as of March 31, 2023 | 12,000,000 | 1 | 4,785 | (1,428) | (17) | 3,341 | ||||||||||||||||||
| Issuance of ordinary shares through public offering, net | 2,000,000 | - | ** | 6,313 | - | - | 6,313 | |||||||||||||||||
| Share based compensations | 1,500,000 | - | ** | 3,810 | - | - | 3,810 | |||||||||||||||||
| Foreign currency translation adjustment | - | - | - | - | 16 | 16 | ||||||||||||||||||
| Net loss | - | - | - | (4,556) | - | (4,556) | ||||||||||||||||||
| Balance as of March 31, 2024 | 15,500,000 | 1 | 14,908 | (5,984) | (1) | 8,924 | ||||||||||||||||||
| Securities related services segment | Investment advisory services segment | Asset management services segment | Corporate consultancy services segment | Corporate | Total | |||||||||||||||||||
| $’000 | $’000 | $’000 | $’000 | $’000 | $’000 | |||||||||||||||||||
| Revenues - excluding interest income | 312 | 2,860 | 871 | 120 | - | 4,163 | ||||||||||||||||||
| Revenues - interest income | 128 | - | - | - | - | 128 | ||||||||||||||||||
| Total revenues | 440 | 2,860 | 871 | 120 | - | 4,291 | ||||||||||||||||||
| Commission and handling expenses | (15) | - | - | - | - | (15) | ||||||||||||||||||
| General and administrative expenses | (387) | - | 52 | - | (1,517) | (1,852) | ||||||||||||||||||
| Marketing and promotion expenses | - | - | - | - | (927) | (927) | ||||||||||||||||||
| Allowance for expected credit losses | (364) | (21) | (59) | - | (410) | (854) | ||||||||||||||||||
| Depreciation of property and equipment | - | - | - | - | (23) | (23) | ||||||||||||||||||
| Amortization of intangible assets | - | - | - | - | (7) | (7) | ||||||||||||||||||
| Employee benefits expenses | - | - | - | - | (5,043) | (5,043) | ||||||||||||||||||
| Share of results of an associate | - | - | - | - | (3) | (3) | ||||||||||||||||||
| Total expenses | (766) | (21) | (7) | - | (7,930) | (8,724) | ||||||||||||||||||
| Interest income | - | - | - | - | 29 | 29 | ||||||||||||||||||
| Other income | - | - | - | - | 3 | 3 | ||||||||||||||||||
| Total other income | - | - | - | - | 32 | 32 | ||||||||||||||||||
| (Loss) income before income tax expense | (326) | 2,839 | 864 | 120 | (7,898) | (4,401) | ||||||||||||||||||
| Total assets | 7,851 | 619 | 246 | - | 6,685 | 15,401 | ||||||||||||||||||
| Total liabilities | (5,136) | - | - | - | (1,341) | (6,477) | ||||||||||||||||||
| Net assets (liabilities) | 2,715 | 619 | 246 | - | 5,344 | 8,924 | ||||||||||||||||||
