Core Viewpoint - Bedes Financial (PLUT) experienced a significant intraday increase of 10.74%, closing at $2.99 per share with a total market capitalization of $45.898 million [1] Financial Performance - As of December 31, 2024, Bedes Financial reported total revenue of HKD 9.748 million, representing a year-on-year decrease of 55.57% [1] - The company recorded a net profit attributable to shareholders of HKD -5.523 million, which is an increase of 8.16% year-on-year [1] Business Overview - Bedes Financial Group Limited primarily engages in asset management, utilizing offshore fund structures and discretionary accounts to tailor investment strategies based on investors' backgrounds and needs [1] - The company focuses on developing various types of funds, including real estate funds, high-yield fixed income funds, multi-strategy funds, and private direct investment funds [1]

Group 1 - The core viewpoint of the article highlights the financial performance and stock movement of Bedes Financial (PLUT), which saw a 3.52% increase in stock price, reaching $2.795 per share, with a total market capitalization of $42.9032 million [1] - As of December 31, 2024, Bedes Financial reported total revenue of HKD 9.748 million, a significant year-on-year decrease of 55.57%, while the net profit attributable to shareholders was HKD -5.523 million, reflecting a year-on-year increase of 8.16% [1] - Bedes Financial Group Limited primarily engages in asset management, utilizing offshore fund structures and discretionary accounts to develop investment strategies tailored to investors' backgrounds and needs [1] Group 2 - The company focuses on developing various categories of funds, including real estate funds, high-yield fixed income funds, multi-strategy funds, and private direct investment funds [1]

Group 1 - The core viewpoint of the article highlights the financial performance and stock movement of Bedes Financial (PLUT), which saw a 3.57% increase in stock price, reaching $2.9 per share, with a total market capitalization of $44.515 million [1] - As of December 31, 2024, Bedes Financial reported total revenue of HKD 9.748 million, a significant decrease of 55.57% year-on-year, while the net profit attributable to shareholders was HKD -5.523 million, reflecting a year-on-year increase of 8.16% [1] - Bedes Financial Group Limited primarily engages in asset management, utilizing offshore fund structures and discretionary accounts to tailor investment strategies based on investor backgrounds and needs [1] Group 2 - The company focuses on developing various categories of funds, including real estate funds, high-yield fixed income funds, multi-strategy funds, and private direct investment funds [1]

Core Viewpoint - Bedes Financial (PLUT) experienced a stock price increase of 3.24% on July 30, closing at $3.025 per share, with a total market capitalization of $46.4338 million [1] Financial Performance - As of December 31, 2024, Bedes Financial reported total revenue of HKD 9.748 million, a year-on-year decrease of 55.57% [1] - The company recorded a net profit attributable to shareholders of HKD -5.523 million, reflecting a year-on-year increase of 8.16% [1] Business Operations - Bedes Financial Group Limited primarily engages in asset management, utilizing offshore fund structures and discretionary accounts to tailor investment strategies based on investor backgrounds and needs [1] - The company focuses on developing various categories of funds, including real estate funds, high-yield fixed income funds, multi-strategy funds, and private direct investment funds [1]

Customer Concentration and Revenue - For the year ended December 31, 2024, two customers accounted for 18% and 17% of total revenues, while in 2023, two customers accounted for 33% and 10%[70]. - The company has encountered risks related to customer concentration, with a few major customers accounting for a substantial portion of revenues[71]. - The Company has a concentration of credit risk, with Customer A contributing HKD 1,771,000 (approximately US$229,000) in revenue for 2024[565]. - The company has not disclosed any significant customers that represent a substantial percentage of revenues or payables for any year presented[567]. Financial Performance and Revenue Sources - The company's brokerage commission income and handling charge income for the years ended December 31, 2023 and 2024 amounted to HK$12,011,000 and HK$2,494,000, representing 55% and 26% of total revenues respectively[79]. - Revenues from interest income derived from margin financing businesses for the years ended December 31, 2023 and 2024 were HK$5,981,000 and HK$3,059,000, representing 27% and 31% of total revenues respectively[90]. - The Company primarily derives its income from commissions, securities underwriting, and asset management fees, with no material amount of investment securities held for its own account[160]. Operating History and Market Risks - The company has a limited operating history since its subsidiaries began operations in 2018, which increases investment risks due to uncertainties in future growth and market acceptance[63]. - The company faces significant competition in the online brokerage industry, with larger competitors potentially having better resources and market presence[68]. - The company’s business growth may be affected by changes in global and regional macroeconomic conditions, including uncertainties in the Chinese economy[81]. - The online brokerage service industry in Hong Kong is at an early stage, and applicable laws may change, impacting the Company's operations and compliance costs[134]. Regulatory and Compliance Risks - The Company is subject to extensive regulatory requirements in Hong Kong, and non-compliance may result in penalties or revocation of licenses, adversely affecting its business and financial condition[133]. - The Company is classified as a "foreign private issuer," leading to less frequent reporting obligations compared to U.S. domestic companies[58]. - The Company may face increased costs if it loses its foreign private issuer status, requiring compliance with more extensive U.S. reporting requirements[173]. - The enactment of the Hong Kong National Security Law could impact the Company's operations, with potential sanctions affecting its business[138]. Cybersecurity and Operational Risks - The Company has not experienced any material cybersecurity breaches in the past, but it remains vulnerable to potential attacks that could compromise user information[110]. - The Company faces risks from unexpected network interruptions and system failures that could disrupt its services and affect customer satisfaction[107]. - The Company relies on third-party service providers for critical infrastructure and market information, and any failures in these services could adversely affect its operations[112]. Management and Governance - The company is classified as a "controlled company," with founders owning approximately 52.52% of ordinary shares, which may exempt it from certain Nasdaq corporate governance requirements[59]. - The Company's founder and CEO own an aggregate of 71.59% of the total voting power of the Company's outstanding Ordinary Shares, which may lead to conflicts of interest with minority shareholders[121]. - The Company is dependent on key executives and highly qualified managers, with a significant risk associated with their recruitment and retention[119]. Capital and Liquidity - A significant decrease in the company's liquidity could negatively affect its business and financial management, reducing customer confidence[93]. - The Company may need additional capital and could sell more Ordinary Shares or incur debt, leading to potential dilution for shareholders[167]. - The Company does not expect to pay dividends in the foreseeable future, intending to retain available funds for business development[164]. Risk Management and Internal Controls - The Company has invested significantly in developing risk management policies, but these may not be fully effective in all market environments or against all types of risks[103]. - As of December 31, 2024, the Company's management assessed its internal controls over financial reporting as effective[178]. - The Company has retained an external consultant to assist in maintaining its internal controls over financial reporting[178]. Changes in Customer Behavior and Market Adaptation - The company must adapt to evolving customer needs to maintain trading volume and customer retention, which is critical for its financial performance[75]. - The Company emphasizes the importance of timely and cost-effective responses to user needs, as failure to do so may materially affect its business and results of operations[100]. - The Company must continue to invest in new service offerings to remain competitive, but there are risks associated with the development and market acceptance of these services[102].

Plutus Financial Group Limited Registration No. 333-276791 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1 Amendment No. 10 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) 8/F, 80 Gloucester Road Wan Chai, Hong Kong (852) 2968 1192 (Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices) The ...

Registration No. 333-276791 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1 Amendment No. 9 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Plutus Financial Group Limited (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) 8/F, 80 Gloucester Road Wan Chai, Hong Kong (852) 2968 1192 (Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices) The ...

Registration No. 333-276791 (Exact name of Registrant as specified in its charter) Not Applicable (Translation of Registrant's name into English) FORM F-1 Amendment No. 8 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Plutus Financial Group Limited UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Cayman Islands 6200 Not Applicable 8/F, 80 Gloucester Road Wan Chai, Hong Kong (852) 2968 1192 (Address, including zip code, and telephone number, including area code, of Registrant' ...

Registration No. 333-276791 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1 Amendment No. 7 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Plutus Financial Group Limited 8/F, 80 Gloucester Road Wan Chai, Hong Kong (852) 2968 1192 (Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices) The Crone Law Group P.C. 500 Fifth Ave, Suite 938 New York, NY 10110 Phone: (646) 861-7891 (Name, address, including zip c ...

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Plutus Financial Group Limited (Exact name of Registrant as specified in its charter) Registration No. 333-276791 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM F-1 Amendment No. 6 Not Applicable (Translation of Registrant's name into English) 8/F, 80 Gloucester Road Wan Chai, Hong Kong (852) 2968 1192 (Address, including zip code, and telephone number, including area code, of Registrant's principal executive offices) The ...