Financial Performance - Other operating income for 2024 reached HKD 19,437,000, an increase of 17.7% from HKD 16,486,000 in 2023[1] - Bank interest income rose to HKD 14,209,000 in 2024, up from HKD 8,201,000 in 2023, marking a 73.5% increase[1] - Basic earnings per share decreased to HKD 0.37 in 2024 from HKD 1.90 in 2023, reflecting a significant decline in profitability[10] - The company reported a pre-tax profit of HKD 13,347,000 for Hong Kong operations in 2024, a decrease from HKD 25,363,000 in 2023[3] - Profit attributable to the company's owners for the year was approximately HKD 35.8 million, down from HKD 183.7 million in 2023, primarily due to increased fair value losses on investment properties and equity securities[70] - The pre-tax profit for the year was HKD 86.4 million, significantly lower than HKD 176.1 million in the previous year[115] - Total comprehensive income for the year was HKD 71,196,000, a decrease from HKD 261,135,000 in the previous year, representing a decline of approximately 72.7%[117] Investment Properties - The net loss from fair value changes in investment properties was HKD (53,998,000) in 2024, compared to a loss of HKD (47,055,000) in 2023[1] - The company’s investment properties decreased to HKD 1,105,544,000 from HKD 1,128,688,000, a decline of approximately 2.0%[119] - The total fair value of the investment portfolio as of March 31, 2024, was approximately HKD 303,700,000, down from HKD 388,000,000 in 2023, primarily due to a redemption of a non-listed redeemable note of HKD 30,000,000 and an increase in fair value losses[104] - The property investment segment recorded a loss of approximately HKD 44.4 million for the year, compared to a loss of HKD 33.6 million in 2023, primarily due to a fair value loss of HKD 54 million on investment properties[105] - The group acquired two investment properties in Hong Kong for a total consideration of HKD 35.3 million, with a total fair value of the investment property portfolio at approximately HKD 1,105.5 million as of March 31, 2024, down from HKD 1,128.7 million in 2023[105] Loans and Credit Risk - The total accounts receivable from margin clients was HKD 2,398,817,000, with a provision for losses of HKD 554,775,000, compared to HKD 2,460,098,000 and HKD 426,185,000 in 2023, respectively [20] - The expected credit loss provision for margin clients increased to HKD 128,590,000 in 2024 from HKD 92,088,000 in 2023 [16] - The company confirmed a loss provision of approximately HKD 554,775,000 for accounts receivable from margin clients as of March 31, 2024, compared to HKD 426,185,000 in 2023 [25] - The company experienced an increase in expected credit loss provisions due to difficulties in repayment from margin clients, with additional provisions of approximately HKD 99,716,000 recognized[33] - The aging analysis of receivables shows that overdue loans exceeding 12 months rose to HKD 238,865,000 in 2024, compared to HKD 181,130,000 in 2023, reflecting a 32% increase[50] Employee Costs - Employee costs, including directors' remuneration, decreased to HKD 26,192,000 in 2024 from HKD 27,387,000 in 2023[1] - As of March 31, 2024, the group had a total of 82 full-time employees, down from 89 in 2023, with total employee compensation costs approximately HKD 26,200,000, compared to HKD 27,400,000 in 2023[87] Dividends - The total dividend proposed for 2024 is HKD 48,314,000, consistent with the previous year's dividend[8] - The proposed final dividend is HKD 0.005 per share, bringing the total dividend for the fiscal year to HKD 0.01 per share, consistent with the previous year[68] Market Conditions - The overall residential property market in Hong Kong showed signs of recovery in March 2024, following a period of inactivity, driven by improved market sentiment after the announcement of the budget[75] - The average daily turnover of the main board and GEM was approximately HKD 97.9 billion, a decrease of 18.8% from approximately HKD 120.5 billion in the previous fiscal period[74] Financial Position - The total assets of the company as of March 31, 2024, amounted to HKD 7,231,740,000, with total liabilities of HKD 289,792,000[149] - Current assets decreased to HKD 5,449,218,000 from HKD 5,651,042,000, representing a decline of approximately 3.6%[119] - Total equity decreased to HKD 6,941,948,000 from HKD 7,007,598,000, a decline of approximately 0.9%[121] - The group had no bank borrowings as of March 31, 2024, compared to HKD 89.3 million in 2023, with unutilized bank credit facilities of approximately HKD 478 million[112] Business Segments - The company operates across eight segments, including brokerage, securities margin financing, and asset management, with a focus on enhancing operational performance[142] - The brokerage business recorded a profit of approximately HKD 77.6 million, a significant increase of 382.0% compared to HKD 16.1 million in 2023[80] - The corporate finance segment completed three financial advisory transactions in the year ending March 31, 2024, generating a segment profit of approximately HKD 2,300,000, up from HKD 1,300,000 in 2023[100] - The asset management segment recorded a profit of approximately HKD 600,000 for the year ending March 31, 2024, down from HKD 1,600,000 in 2023, primarily due to asset management income of approximately HKD 600,000, compared to HKD 1,900,000 in 2023[101]
结好控股(00064) - 2024 - 年度业绩