Financial Performance - The company reported a significant increase in revenue, achieving a total of HKD 150 million, representing a growth of 25% compared to the previous year[9]. - Revenue for 2022 reached RMB 76,671,000, representing a significant increase of 282.2% compared to RMB 20,059,000 in 2021[22]. - For the year ended December 31, 2022, the Group recorded a turnover of approximately RMB 76.7 million, representing a significant increase of approximately 282.2% from approximately RMB 20.1 million in the previous year[118]. - Revenue from financial service platforms amounted to approximately RMB 75.2 million, representing an increase of approximately 282.7%[119]. - Profit attributable to owners of the Company for 2022 was RMB 2,605,000, a turnaround from a loss of RMB 265,276,000 in 2021[22]. - Basic profit per share improved to RMB 7.52 cents from a loss of RMB 766 cents in the previous year[22]. - Profit attributable to the owners of the Company was approximately RMB 2.6 million, a significant recovery from a loss of approximately RMB 265.3 million in the previous year[128]. Operational Developments - User data showed an increase in active users to 1.2 million, up from 1 million, indicating a growth rate of 20% year-over-year[9]. - New product launches are expected to contribute an additional HKD 20 million in revenue, with a focus on enhancing digital financial services[9]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share within the next two years[9]. - A strategic acquisition of a fintech startup was announced, expected to enhance technological capabilities and customer reach[9]. - The Company plans to attract new investors to enhance capital and professional capabilities[29]. - Development of a wide range of to-customer (to C) businesses is a strategic focus moving forward[29]. Corporate Governance and Compliance - The board of directors confirmed that all financial information is accurate and complete, ensuring transparency for investors[6]. - The company is committed to enhancing its corporate governance practices, with new policies being implemented to align with best practices[9]. - The management emphasizes the importance of compliance and business logic for sustainable growth[29]. - The Company has been proactive in addressing the findings of the investigations and is committed to improving its governance and compliance practices[62]. - The Company appointed independent legal advisors to provide opinions on the Investigation Issues as requested by the Stock Exchange[59]. Internal Control and Risk Management - The internal control and risk management systems within the Group were found to be ineffective, leading to unsatisfactory corporate governance practices[61]. - The Company has engaged GRC Chamber Limited to conduct a comprehensive review of its internal control system, policies, and procedures from January 1, 2021, to February 28, 2022[75]. - The Internal Control Review Report identified weaknesses in the internal control system and provided recommendations, which the company has fully adopted and implemented[77]. - The internal control measures implemented by the Company are deemed sufficient to address the main findings of the internal control review[79]. - The Group adopts a conservative approach towards treasury policies to reduce credit risk and closely monitors liquidity to meet funding requirements[186]. Legal and Regulatory Matters - The Company has been actively addressing the Resumption Guidance and has provided quarterly updates on its resumption status on multiple dates, including June 28, 2021, and April 3, 2023[35]. - An Independent Investigation Committee was formed on December 20, 2021, to investigate the custody of certain individuals by the Shenzhen Public Security Bureau related to suspected illegal activities[36]. - The PRC legal advisers concluded that the illegal fundraising activities were controlled by Mr. Zheng and were not considered corporate crimes of the Company, absolving the Company and its existing Directors from criminal and civil liabilities[37]. - The Company received a Delisting Decision from the Stock Exchange on May 6, 2022, due to failure to meet Resumption Guidance by March 28, 2022[12]. - The Company submitted an application to the Listing Review Committee to review the cancellation decision made on November 17, 2022[88]. - On February 17, 2023, the Listing Review Committee overturned the previous cancellation decision, allowing the Company to resume trading[94]. Financial Position and Assets - Total assets decreased by 36.8% to RMB 55,705,000 from RMB 88,205,000 in 2021[22]. - Cash and cash equivalents fell by 65.1% to RMB 4,912,000 from RMB 14,086,000 in 2021[22]. - The Group recorded net assets of RMB 15.5 million as of December 31, 2022, compared to net liabilities of RMB 4.4 million in 2021, with a gearing ratio of approximately 2.8%, representing a year-on-year decrease of 55.6 percentage points[103]. - The Group's total borrowings were approximately RMB 1.5 million, down from RMB 5.6 million in 2021, resulting in a debt-to-asset ratio of about 2.8%, compared to 6.3% in the previous year[139]. - The Group's investments in property development projects were valued at zero as of December 31, 2022, following the completion of the VSD Transaction on June 29, 2022[153][161]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue increase of 30% to reach HKD 195 million[9]. - The Company aims to continuously enhance its capital to seize opportunities in the post-COVID-19 environment[29]. - The Group is undergoing a corporate restructuring, with expectations that its business and financial position will improve post-restructuring, maintaining its listing status[142][145]. - The Group has been actively seeking suitable investment and business opportunities to create long-term value for shareholders[143][146].
汇联金融服务(08030) - 2022 - 年度财报