Financial Performance - For the year ended December 31, 2024, total revenue increased to HKD 413,551,000, up 19.6% from HKD 345,654,000 in 2023[3] - Net investment income for 2024 was HKD 118,808,000, a significant recovery from a loss of HKD 218,384,000 in 2023[3] - The company reported a net loss attributable to equity holders of HKD 73,367,000 for 2024, compared to a profit of HKD 119,537,000 in 2023, reflecting a decline of 161.4%[4] - Basic and diluted loss per share for 2024 was HKD (1.2), compared to earnings of HKD 1.9 per share in 2023[4] - The reported segment revenue for the year 2024 is HKD 417,738,000, an increase from HKD 353,271,000 in 2023, representing a growth of approximately 18.3%[19] - The reported segment performance for 2024 showed a loss of HKD 86,283,000, compared to a profit of HKD 121,535,000 in 2023, reflecting a decline in profitability[19] - The company’s pre-tax loss for 2024 was HKD 66,049,000, compared to a pre-tax profit of HKD 117,871,000 in 2023, indicating a significant decrease in financial performance[19] - Total tax expense for 2024 amounted to HKD 7,318,000, compared to a tax credit of HKD 1,666,000 in 2023[28] - The company did not declare a final dividend for 2024, while a special dividend of HKD 68,168,000 was paid in 2023[30] Assets and Liabilities - Total assets increased to HKD 4,189,276,000 as of December 31, 2024, compared to HKD 4,064,012,000 in 2023, representing a growth of 3.1%[6] - The company’s liabilities totaled HKD 2,195,917,000 in 2024, a slight increase from HKD 2,002,597,000 in 2023, reflecting a growth of 9.7%[6] - The company’s equity attributable to equity holders decreased to HKD 1,993,359,000 in 2024 from HKD 2,061,415,000 in 2023, a decline of 3.3%[6] - The total accounts payable increased to HKD 1,220,571,000 in 2024 from HKD 1,076,880,000 in 2023, reflecting an increase of approximately 13.3%[42] - The group’s net assets as of the end of 2024 were HKD 1.993 billion, down from HKD 2.061 billion in 2023, resulting in a debt-to-equity ratio of 34% compared to 33% in the previous year[81] Cash Flow and Investments - Cash and cash equivalents rose to HKD 156,675,000 in 2024, up from HKD 122,380,000 in 2023, indicating a 28.0% increase[6] - The company recorded a net expected credit loss reversal of HKD 21,247,000 in 2024, down from HKD 61,954,000 in 2023[4] - The fair value change of investment properties resulted in a gain of HKD 8,580,000 in 2024, compared to a loss of HKD 42,120,000 in 2023[4] - The company completed the sale of 11,739,128 shares of a non-listed equity investment for USD 8,827,000 (approximately HKD 68,848,000) on January 23, 2025[42] - The company’s investment properties are all held in the United States, with a total value of HKD 851,760,000 as of December 31, 2024[39] Revenue Streams - Commission income from corporate finance business decreased significantly to HKD 9,133,000, down 70.9% from HKD 31,322,000 in 2023[21] - Interest income for the year 2024 reached HKD 204,834,000, compared to HKD 433,963,000 in 2023, indicating a decline of about 52.8%[18] - Interest income from credit loans and bonds dropped to HKD 55,094,000, a decline of 80.7% from HKD 285,931,000 in the previous year[21] - The corporate finance business revenue plummeted by approximately 71% from HKD 31 million in 2023 to HKD 9 million in 2024, attributed to delays in clients' IPO timelines[53] - The asset management business revenue decreased from HKD 11 million in 2023 to HKD 9 million in 2024, reflecting a decline in performance[54] - Brokerage business revenue fell by 20% from HKD 81 million in 2023 to HKD 65 million in 2024, while brokerage interest income slightly increased by 1% to HKD 147 million[52] Operational Efficiency - Total operating expenses decreased to HKD 51,301,000 from HKD 57,999,000 in 2023, reflecting a reduction of 11.9%[24] - Direct costs decreased by 22% from HKD 94 million in 2023 to HKD 73 million in 2024, mainly due to reduced commission expenses from lower total commission income[62] - Employee costs reduced by 9% from HKD 174 million in 2023 to HKD 159 million in 2024, attributed to resource streamlining and team optimization[62] Credit and Risk Management - The company has adopted a credit risk policy to manage its lending operations, which includes compliance with applicable laws and regulations, credit assessments of potential borrowers, and evaluation of collateral[68] - The expected credit loss is calculated using the formula: Expected Credit Loss = Default Risk Exposure × Default Probability × (1 - (Recovery Rate × Forward-Looking Factors) Present Value)[67] - The company applies strict procedures for credit approval, including due diligence and credit assessments of potential borrowers[75] - The risk management department reviews loan risk levels daily and submits monthly reports to the executive committee[77] - The group has established a three-tier risk management system to mitigate unexpected market fluctuations[89] Market Outlook - The company remains optimistic about opportunities in 2025 despite facing challenges in 2024, including a decrease in transaction volume and delays in IPO schedules[50] - The company reported a significant improvement in the Hong Kong stock market atmosphere, with the Hang Seng Index and daily trading volume showing positive trends[96] - The company's securities business performance in the second half of 2024 is expected to surpass that of the first half, indicating a recovery from previous lows[96] Compliance and Governance - The company has adopted a standard code of conduct for securities trading by directors, ensuring compliance with the latest listing rules[100] - The company’s audit committee has reviewed the audited annual performance for the year ending December 31, 2024, discussing accounting principles and internal controls[101]

(Incorporated in Bermuda with limited liability) Stock Code: 952 FLOURISH IN THE CHANGING WORLD Interim Report 2024 中期報告 2024 Interim Report (於百慕達註冊成立之有限公司) 股份代號: 952 迎變而生 創新立業 2024 中期報告 -- - - c3本報告以環保紙印製 目錄 簡明綜合損益表 2 3 簡明綜合損益及其他全面收益表 4 簡明綜合財務狀況表 5 簡明綜合現金流量表 7 簡明綜合權益變動表 簡明綜合中期財務報表附註 9 42 管理層討論及分析 54 其他資料 74 公司資料 75 釋義 簡明綜合損益表 | --- | --- | --- | --- | |-----------------------------------------|-------|-----------------------------------------------------------|---------------------------------------------- ...

Financial Performance - Total revenue for the six months ended June 30, 2024, was HKD 368,700,000, a decrease from HKD 4,138,942,000 in the same period of 2023[1] - Commission income was HKD 40,859,000, down 30.5% from HKD 58,763,000 year-on-year[2] - Interest income calculated using the effective interest method was HKD 42,109,000, significantly lower than HKD 205,800,000 in the previous year[1] - Net investment loss was HKD (1,799,000), compared to a gain of HKD 47,484,000 in the same period last year[1] - Pre-tax profit decreased to HKD 11,760,000 from HKD 115,201,000 year-on-year, representing a decline of 89.8%[2] - Net profit attributable to equity holders was HKD 11,162,000, down 90% from HKD 111,269,000 in the previous year[3] - Basic and diluted earnings per share were both HKD 0.2, a decrease from HKD 1.8 in the same period last year[2] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 4,293,599,000, compared to HKD 4,064,012,000 at the end of 2023[4] - Total liabilities increased to HKD 2,218,148,000 from HKD 2,002,597,000 at the end of the previous year[4] - Total equity attributable to equity holders was HKD 2,075,451,000, a slight increase from HKD 2,061,415,000 at the end of 2023[4] Revenue Breakdown - The company reported segment revenue for the corporate finance division at HKD 4,570,000 and for the asset management division at HKD 6,526,000 for the six months ended June 30, 2024[9] - Brokerage segment revenue reached HKD 105,339,000, while interest income for the same segment was HKD 24,910,000 for the six months ended June 30, 2024[10] - Revenue from related parties for the six months ended June 30, 2024, was HKD 30,485,000, down from HKD 162,589,000 in the previous year[12] - Corporate finance business revenue decreased from approximately HKD 9 million in the first half of 2023 to approximately HKD 4 million in the first half of 2024, representing a decline of about 56%[40] - Asset management business revenue fell from approximately HKD 5 million in the first half of 2023 to approximately HKD 3 million in the first half of 2024, a decrease of 40%[41] Operating Expenses - Total operating expenses for the six months ended June 30, 2024, were HKD 27,236,000, down from HKD 29,487,000 in the previous year, a reduction of 7.6%[16] - Tax expense for the six months ended June 30, 2024, was HKD 598,000, compared to HKD 3,932,000 for the same period in 2023, reflecting a decrease of 84.8%[19] - The company incurred a loss of HKD 12,203,000 due to modifications in credit loan terms, which was not present in the previous year[14] - Legal and professional fees amounted to HKD 5,585,000, a decrease from HKD 9,067,000 in the previous year, indicating a reduction in professional service costs[16] Credit and Loans - Margin loans to clients amounted to HKD 520,434 as of June 30, 2024, down from HKD 547,986 as of December 31, 2023[23] - Total unsecured credit loans increased to HKD 4,021,751 as of June 30, 2024, compared to HKD 3,854,279 as of December 31, 2023[24] - The expected credit loss provision for secured credit loans was HKD 502,588 as of June 30, 2024, compared to HKD 558,615 as of December 31, 2023[24] - The net amount of credit loans after expected credit loss provisions decreased from approximately HKD 422.18 million to about HKD 354 million, reflecting a decline of 16.1%[57] Employee and Operational Management - The company employed 181 full-time employees in Hong Kong as of June 30, 2024, down from 193 as of December 31, 2023[62] - The company actively conducts briefings to enhance employee risk awareness and has established internal procedures and control guidelines[67] - The company has adopted a credit risk policy to manage its lending business, which includes assessing potential borrowers and their assets, ensuring compliance with applicable laws and regulations[54] Dividends and Shareholder Returns - The company declared a special dividend of HKD 0.011 per ordinary share for the six months ended June 30, 2023, totaling HKD 68,168, while no interim dividend was declared for the six months ending June 30, 2024[22] - The board has decided not to declare an interim dividend for the six months ending June 30, 2024, compared to a special dividend of HKD 0.011 per share in 2023[69] Risk Management and Compliance - The company has a business continuity policy and a special committee to address any potential operational risks[67] - The company continues to monitor and assess market risk conditions and reports significant risks to senior management[65] - The company has committed to complying with evolving regulatory requirements to protect investor interests and maintain market integrity[68]

迎變而生 創新立業 FLOURISH IN THE CHANGING WORLD \\\\\\ 公司資料 2 4 6 8 10 27 60 64 企業活動 企業管治報告 本人謹代表本公司董事會向 閣下提呈華富建業國際金融有限公司（「本集團」）截至二零二三年十二月三十一日止 年度之年報。 本人謹代表董事會向全體員工的奉獻及努力，以克服挑戰並適應我們瞬息萬變的環境表示由衷謝意。本人亦謹此 感激股東及持份者的持續支持。我們將繼續同心協力，為本公司投資者及持份者創造長期價值。 6 華富建業國際金融有限公司 我們欣然宣佈，952.HK現已更名為華富建業國際金融有限公司，於二零二三年五月完成其強制無條件現金要約， 並已轉虧為盈。二零二三年的業績復甦縱然緩慢，但仍然可見，伴隨當前很可能於二零二四年內持續的不確定宏 觀環境，我們必須密切監察復甦進展。 我們認為，宏觀環境往往會加劇市場波動。此外，目前存在的地緣政治緊張局勢（特別是中美關係），將繼續對中 國出口驅動型經濟產生負面影響。我們亦意識到正在進行的區域戰爭威脅以及任何潛在後果或衝突擴大；政府及 經濟調整的引入以及任何由此產生的擺動效應，不論是單獨還是綜合起來，都會影響投 ...

董事會議決不宣派截至二零二三年十二月三十一日止年度的末期股息（二零二二年：無）。 於二零二三年 於二零二二年 十二月三十一日 十二月三十一日 千港元 千港元 給予保證金客戶之貸款 — 按公平值計量並計入損益 547,986 670,496 由於並無已發行潛在具攤薄性普通股，故截至二零二二年十二月三十一日止年度之每股攤薄虧 損與每股基本虧損相同。 11 股息 本年度之應付予本公司股權持有人應佔股息： 12 給予保證金客戶之貸款 附註： 保證金客戶須向本集團質押證券抵押品，以就證券買賣取得信貸融資。授予彼等之信貸融資款項乃 按綜合分析釐定，包括但不限於貸款對市場及貸款對可保證價值比率（「借貸比率」）、集中度風險、 非流通抵押品及整體可動用資金。本集團對尚未償還保證金貸款進行持續監察，以觀察實際借貸比 率是否已經超出預先釐定水平，作為信貸風險監控機制。倘超出任何借貸比率，則會導致催繳證券 保證金，客戶須補上不足數額。於二零二三年十二月三十一日，保證金客戶向本集團質押作為抵押 品之證券市值為58.33億港元（二零二二年十二月三十一日：48.48億港元），如客戶未能支付催繳證券 保證金，本集團獲准出售客戶提供之抵押品。 ...

(前稱中國通海國際金融有限公司) (於百慕達註冊成立之有限公司) 股份代號: 952 2023 中期報告 目錄 4 簡明綜合財務狀況表 9 簡明綜合中期財務報表附註 74 公司資料 | --- | --- | --- | --- | |------------------------------------------|-------|-------------------------------------------------------------|-----------------------------------------------------------| | | 附註 | 截至 \n二零二三年 六月三十日 止六個月 千港元 （未經審核） | 截至 \n二零二二年 六月三十日 止六個月 千港元 （未經審核） | | | | | | | 費用及佣金收入 利息收入 | 5 | 58,763 | 62,696 | | — 使用實際利率法計算 | 5 | 174,986 | 151,622 | | | | | | | — 使用其他方法計算 | 5 | 56,653 | 65,074 | | | | ...

其後可能重新分類至損益之項目 — 換算外國業務財務報表之匯兌虧損 | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------|-------|------------------------------------------------------|------------------------------------------|--------------------|----------------------------|-----------------------------------------------------------|------------------------| | 資產 | 附註 | 流動 千港元 （未經審核）（未經審核）（未經審核） | 於二零二三年六月三十日 \n非流動 千港元 | \n總額 千港元 | 流動 千港元 （經審核） | 於二零二二年十二月三十一日 \n非流動 千港元 （經審核） | 總額 千港元 （經審核） | | 現金及現金等值項目 | ...

中國通海國際金融有限公司 CHINA TONGHAI INTERNATIONAL FINANCIAL LIMITED (Incorporated in Bermuda with limited liability) (於百慕逵註冊成立之有限公司) Stock Code 股份代號：952 2022年報 Annual Report | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|----------------------|------------|-------|-------| | | | | | | | | | | | | | | | | | | | | Your Growth 與你邁向 | Partner | | | | | | | | 成功的夥伴 | | | | | | | | | | | This report is printed on environmentally friendly paper 本報告以環保紙印製 目錄 釋義 公司資料 主席報告 行政總裁回顧 2 4 6 8 10 26 52 65 管理層討 ...

本集團截至二零二二年十二月三十一日止年度之經審核業績公告分別於披露易網站 www.hkexnews.hk及本公司網站www.tonghaifinancial.com刊載。本公司截至二零二二年 十二月三十一日止年度之年報將於適當時間寄發予本公司股東，並可於上述網站閱覽。 非執行董事： 劉冰先生 趙英偉先生 趙曉夏先生 其後可能重新分類至損益之項目 — 換算外國業務之財務報表之匯兌（虧損）╱收益 (2,846) 980 其後不會重新分類至損益之項目 — 按公平值計量並計入其他全面收益之投資資本分配 1,321 — — 按公平值計量並計入其他全面收益之財務資產 公平值變動 — (3,840) – 4 – 鑒於該等情況，於二零二二年已採取若干措施以改善流動性，如發行有抵押私人票據及無抵押私人 票據。於必要時，本集團向銀行、金融機構及其他交易對手方尋求額外借貸，包括按揭其物業及籌措 額外融資。 準則及詮釋不大可能會對綜合財務報表造成重大影響。 | --- | --- | --- | |--------------------------------------------------------|----------- ...

中國通海國際金融有限公司 CHINA TONGHAI INTERNATIONAL FINANCIAL LIMITED (於百慕遮註冊成立之有限公司) 股份代號：952 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|--------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | + | ↓ | + t ↓ | | | | | | | | | | | | ↓ | | | | | | | | | | | | | | | | | | | | 與你邁向成功的夥伴 | | 1975 本報告以環保紙印製 目錄 簡明綜合損益表 2 簡明綜合損益及其他全面 ...