Financial Performance - The company reported a revenue increase of 17% to approximately HKD 41,613,000 for the year ended December 31, 2018, compared to HKD 35,545,000 in 2017[7]. - The net loss attributable to the company's owners significantly reduced to approximately HKD 437,330,000, down from HKD 922,661,000 in 2017[7]. - The total comprehensive loss for the year was HKD 522,853,000, down from HKD 912,738,000 in the previous year, reflecting a decrease of approximately 42.7%[195]. - Basic and diluted loss per share improved to HKD 14.23 in 2018 from HKD 31.66 in 2017, showing a reduction of about 55.1%[195]. - The company's equity attributable to owners decreased to HKD 1,443,927,000 in 2018 from HKD 2,009,327,000 in 2017, reflecting a decrease of about 28.1%[200]. Revenue Sources - Interest income from the newly introduced bond investment business amounted to approximately HKD 13,877,000, representing 33% of total revenue[8]. - The lending business has seen significant growth, with revenue reaching approximately HKD 20,340,000, a nearly fivefold increase compared to HKD 3,511,000 in 2017[15]. - The financial services segment generated revenue of approximately HKD 7,396,000, a decrease from HKD 32,034,000 in 2017, with a net loss of approximately HKD 24,072,000[12]. - New income from bond investments generated approximately HKD 13,877,000, accounting for about 33% of total revenue for the year[16]. Asset Management - The outstanding principal amount of receivable loans as of December 31, 2018, was approximately HKD 402,207,000, up from HKD 27,560,000 in 2017[15]. - As of December 31, 2018, the financial assets at fair value through profit or loss amounted to approximately HKD 248,004,000, down from HKD 765,733,000 in 2017[17]. - The group’s significant receivables and interest amounted to approximately HKD 404,849,000, representing about 26.21% of the group's total assets[176]. - Approximately 88.84% of the receivables and interest are secured by collateral[176]. Investment Strategy - The company aims to further expand its loan portfolio and actively explore other potential investment opportunities to generate more stable recurring income[8]. - The company is actively exploring potential investment opportunities to diversify income sources and generate more stable revenue streams[16]. - The introduction of new investment strategies aims to enhance the company's overall financial performance and mitigate risks associated with market volatility[16]. - The company plans to adjust its investment portfolio in response to market changes and may consider acquiring other potential investments[31]. Risk Management - The company is enhancing its risk management policies to mitigate credit, liquidity, market, and information technology risks[35]. - The board has established a risk management framework to identify and assess risks, ensuring that significant risks are monitored at least annually[152]. - The company has engaged external professionals to review its internal control and risk management systems annually, aiming to enhance their effectiveness[154]. - The company has adopted a "three lines of defense" governance structure for risk management, combining operational management, financial compliance teams, and independent internal audits[154]. Corporate Governance - The company has adopted the Corporate Governance Code and complied with all applicable provisions during the year ended December 31, 2018[121]. - The board consists of five members, including two executive directors and three independent non-executive directors[123]. - The company has maintained good corporate governance standards to enhance accountability to shareholders and creditors[120]. - The company has arranged suitable insurance coverage for its directors to protect against legal actions[107]. Shareholder Information - The company did not recommend the payment of a final dividend for the year[68]. - The company has adopted a dividend policy aimed at sharing profits with shareholders while retaining liquidity for future growth opportunities[165]. - Shareholders holding at least 1/20 of the total voting rights or 100 shareholders can submit a request for a resolution at the annual general meeting, with costs borne by the requesting shareholders[164]. - The independent auditor's report confirms that the consolidated financial statements reflect the group's financial position as of December 31, 2018, in accordance with Hong Kong Financial Reporting Standards[168]. Employment and Training - The group employed 36 staff members as of December 31, 2018, and provides regular training to enhance employee capabilities[51]. - The company secretary has completed no less than 15 hours of relevant professional training during the year[160].
嬴集团(00397) - 2018 - 年度财报