23. RELATED PARTY TRANSACTIONS AND BALANCES Nature of relationships with related parties | Name | | Relationship with the Company | | Grow World LPF (note a) | | Entity controlled by Mr. Lok and Ms. Yao | | Grow World II LPF | | Entity controlled by Mr. Lok and Ms. Yao | | Solomon Capital Fund SPC | | Entity controlled by Mr. Lok and Ms. Yao | | Northstar Futurex SP | | Entity controlled by Solomon Global Select Fund SPC | | Winner Global Select LPF | | Entity controlled by Mr. Lok | | Mr. Lok (note b) | | Shareholder and director of the Company | | Ms. Yao (note c) | | Shareholder and director of the Company | | Mr. Zhu (note d) | | Shareholder and director of the Company | Note: | (a) | On August 2, 2024, Grow World LPF was no longer a related party to the Company, following a transfer of the Grow World LPF’s ownership to a third party. Additionally, the Company ceased to be Grow World LPF’s investment manager on August 6, 2024 and no income was recognized since August 6, 2024. | | (b) | Mr. Lok was a director of the Company and had been appointed as the Chief Executive Officer with effect from March 19, 2025. | | (c) | Ms. Yao was a director of SJFZ from October 2022 to April 2025 and had been appointed as a director of the Company with effect from March 19, 2025. | | (d) | Mr. Zhu has been appointed as a director of the Company, effective from October 15, 2025. | Related party transactions | | | | | For the years ended
March 31, | | | Name | | Nature | | 2026 | | | 2025 | | | 2024 | | | | | | | $’000 | | | $’000 | | | $’000 | | | Grow World LPF | | Asset management income | | | - | | | | 1 | | | | 10 | | | Grow World II LPF | | Asset management income | | | 57 | | | | 127 | | | | 46 | | | Solomon Capital Fund SPC | | Asset management income | | | 536 | | | | 527 | | | | 815 | | | Total asset management income | | | | | 593 | | | | 655 | | | | 871 | | Balance with related parties | | | | | As of March 31, | | | Name | | Nature | | 2026 | | | 2025 | | | | | | | $’000 | | | $’000 | | | Grow World II LPF | | Receivable from customers | | | 47 | | | | 4 | | | Solomon Capital Fund SPC | | Receivable from customers | | | 292 | | | | 42 | | | Total receivable from customers | | | | | 339 | | | | 46 | | | | | | | | | | | | | | | Solomon Capital Fund SPC | | Amount due from related parties | | | 32 | | | | 12 | | | Grow World II LPF | | Amount due from related parties | | | 6 | | | | - | | | Total amount due from related parties | | | | | 38 | | | | 12 | | | | | | | | | | | | | | | Northstar Futurex SP | | Amount due to related parties | | | (22 | ) | | | - | | | Winner Global Select LPF | | Amount due to related parties | | | (2,000 | ) | | | - | | | Total amount due to related parties | | | | | (2,022 | ) | | | - | | | | | | | | | | | | | | | Mr. Lok | | Amount due to directors | | | - | | | | (382 | ) | | Ms. Yao | | Amount due to directors | | | (198 | ) | | | (569 | ) | | Total amount due to directors | | | | | (198 | ) | | | (951 | ) | Amounts due from (to) related parties and directors are unsecured, non-interest bearing and repayable on demand. The nature of amounts due from related parties is payment in advance for certain operating expenses. These balances are non-trade in nature except for approximately $339,000 and $46,000 represented asset management income receivables as of March 31, 2026 and 2025, respectively. Remuneration to senior management for the years ended March 31, 2026, 2025 and 2024 were: | | | For the years ended
March 31, | | | | | 2026 | | | 2025 | | | 2024 | | | | | $’000 | | | $’000 | | | $’000 | | | Salaries and other short term employee benefits | | | 666 | | | | 644 | | | | 518 | | | Payments to defined contribution pension schemes | | | 6 | | | | 10 | | | | 12 | | | Total | | | 672 | | | | 654 | | | | 530 | | During the years ended March 31, 2026, 2025 and 2024, except for these transactions disclosed above, as discussed in note 1 and note 22, the Company also acquired shares of AlloyX Venture Limited (formerly known as Solowin Investment Limited) from Mr. Lok and shares of AlloyX Limited from Mr. Lok and Mr. Zhu. Prior to the combination AlloyX Limited, Mr. Lok Ling Ngai has control over AlloyX Limited. The combination has therefore been accounted for using the predecessor method which the assets and liabilities of AlloyX Limited were recognised at their carrying amounts.
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