Financial Performance - For the year ended 31 March 2024, the Group's revenue was approximately HK$334.9 million, a decrease of 0.6% compared to HK$337.0 million in the previous financial year[147]. - Profit attributable to owners of the Company was approximately HK$152.7 million, an increase from HK$149.8 million in 2023, primarily due to a gain on disposal of property and a decrease in income tax expenses[148]. - Profit for the year was HK$152,696,000, compared to HK$149,831,000 in 2023, reflecting a growth of 1.2%[172]. - Basic earnings per share remained at HK6 cents, consistent with the previous year[149]. - Total comprehensive income for the year was HK$152,748,000, slightly up from HK$149,960,000 in the previous year[172]. - The company paid dividends totaling HK$150,000,000 to shareholders during the year[172]. Investment and Asset Management - The Group's investment portfolio had a total fair value of approximately HK$17.9 million, a decrease from HK$18.4 million in 2023, with a reported loss of approximately HK$0.6 million for the year[31]. - The asset management division reported a profit of approximately HK$600,000, a decrease from HK$1.6 million in 2023, primarily due to asset management fee income of approximately HK$600,000 compared to HK$1.9 million in the previous year[36]. - The total gross accounts receivable from margin clients as of 31 March 2024 was approximately HK$2,398.8 million, a slight decrease from HK$2,460.1 million in 2023[121]. - The net impairment loss on margin clients receivable was HK$128.6 million for the year, compared to HK$92.1 million in 2023[124]. Corporate Finance and Advisory - The Group's corporate finance segment completed three financial advisory transactions in the year, down from four in 2023, generating a segment profit of approximately HK$2.3 million compared to HK$1.3 million in the previous year[34]. - The corporate finance segment completed 3 financial advisory transactions during the year, generating a segment profit of approximately HK$2.3 million, up from HK$1.3 million in 2023[126]. Market Conditions and Economic Outlook - The external environment for 2024 is expected to be complicated, with geopolitical tensions and the effects of previous monetary tightening impacting global economic growth[44]. - Major central banks are anticipated to cut interest rates later in the year, which may support global economic confidence and activities, although the timing and magnitude remain uncertain[47]. - The local economy in Hong Kong showed positive signs with a real GDP growth of 3.2% and a decrease in unemployment rate to 2.9% by year-end 2023[15]. - The local economy in Hong Kong grew by 3.2% in 2023, with the unemployment rate declining to 2.9%[56]. - The Hang Seng Index closed at 16,541 points at the end of March 2024, down from 20,400 points at the end of March 2023, reflecting a significant decline in market sentiment[58]. - Average daily turnover on the Main Board and GEM decreased by 18.8% to approximately HK$97.9 billion compared to HK$120.5 billion in the prior financial period[58]. Risk Management and Compliance - The Group's major risks include strategic, commercial, operational, and financial risks, which are continuously monitored[109]. - The Group's management will regularly review and adjust business strategies with a prudent risk management approach to address future challenges[41]. - The management has implemented a business continuity plan and monitoring measures to mitigate risks related to financial and reputational losses[111]. - The Group will continue to adopt a cautious approach to credit control in its margin financing business, balancing yield relative to risk[125]. - The Group is facing keen competition from other securities brokers and financial institutions, prompting a cost leadership strategy and diversification of business[82]. Audit and Governance - The directors are responsible for preparing consolidated financial statements that provide a true and fair view in accordance with HKFRSs and HKCO disclosure requirements[165]. - The auditor's objective is to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[167]. - The auditor evaluates the appropriateness of accounting policies and the reasonableness of accounting estimates made by the directors[168]. - The auditor must communicate significant audit findings, including deficiencies in internal control, to those charged with governance[168]. - The auditor concludes on the appropriateness of the going concern basis of accounting used by the directors[168].
结好金融(01469) - 2024 - 年度财报