Financial Performance - For the fiscal year ending December 31, 2024, interest income increased to HKD 281,597,000 from HKD 248,734,000, representing a growth of 13.0%[2] - Net profit for the year rose to HKD 63,754,000, compared to HKD 51,566,000 in the previous year, marking a significant increase of 23.5%[4] - Basic and diluted earnings per share decreased slightly to HKD 12.75 from HKD 13.42, reflecting a decline of 5.0%[4] - Total revenue for 2024 reached HKD 281,597,000, up from HKD 248,734,000 in 2023, indicating an increase of 13.2%[15] - The profit attributable to equity holders for the year ended December 31, 2024, was HKD 63,754,000, an increase from HKD 51,566,000 in 2023, representing a growth of approximately 23.3%[21] - Profit for the reporting period reached HKD 63.8 million, up from HKD 51.6 million in 2023[46] Dividends - The board proposed a final dividend of HKD 0.20 per share and a special dividend of HKD 2.5 per share, compared to no special dividend in the previous year[2] - The company proposed a final dividend of 3.0 HKD cents per share and a special dividend of 2.5 HKD cents per share for a total of HKD 27,500,000, pending shareholder approval[25] - The interim dividend declared for the year was 3.4 HKD cents per share, totaling HKD 17,000,000, which was paid on October 20, 2024[24] - The company’s total dividend for the year 2023 was HKD 100,000,000, which was not declared in 2024[23] Assets and Liabilities - Total assets as of December 31, 2024, amounted to HKD 1,449,835,000, up from HKD 1,241,597,000, indicating an increase of 16.8%[5] - Total liabilities increased to HKD 532,235,000 from HKD 360,707,000, which is a rise of 47.5%[5] - The total loans and advances to customers amounted to HKD 1,349,315,000 in 2024, up from HKD 1,073,847,000 in 2023, marking an increase of about 25.6%[26] - The total amount of receivables pledged as collateral for bank and other borrowings was HKD 547.6 million, down from HKD 821.1 million in 2023[71] Income and Expenses - The net interest income rose to HKD 250,561,000, up from HKD 223,552,000, reflecting an increase of 12.1%[4] - The company reported a significant increase in other income, which rose to HKD 9,629,000 from HKD 4,959,000, a growth of 94.5%[4] - Employee benefits expenses totaled HKD 104,825,000 in 2024, slightly down from HKD 105,623,000 in 2023, reflecting a decrease of 0.8%[17] - Advertising and marketing expenses surged to HKD 23,205,000 in 2024, compared to HKD 11,409,000 in 2023, marking an increase of 103.4%[17] - The total tax expense for 2024 was HKD 10,272,000, down from HKD 15,174,000 in 2023, indicating a decrease of 32.4%[19] Loans and Advances - The company provided unsecured loans totaling HKD 1,037,042,000, with non-overdue loans amounting to HKD 597,163,000, which is an increase from HKD 363,312,000 in 2023[28] - Unsecured homeowner loans accounted for approximately 72.0% of the group's revenue, up from 68.7% in 2023, with interest income rising by 18.5% to HKD 202.6 million[34] - Interest income from unsecured homeowner loans increased to HKD 202.6 million, driven by an average loan balance growth of 20.3% to HKD 910.5 million[38] - The average loan size for unsecured owner-occupied loans increased to HKD 372.0 thousand in 2024 from HKD 319.2 thousand in 2023[54] Credit Loss and Impairment - The expected credit loss for the year was HKD 77,364,000, compared to HKD 55,757,000 in 2023, which is an increase of approximately 38.7%[27] - The impairment provisions increased to HKD 116,935,000 in 2024 from HKD 109,455,000 in 2023, representing a rise of about 6.5%[58] Financial Ratios - The asset-to-liability ratio significantly increased to 0.45 in 2024 from 0.16 in 2023, indicating a substantial rise in leverage[59] - The return on assets improved to 4.7% in 2024 compared to 4.4% in 2023, while the return on equity rose to 7.1% from 6.4%[59] Strategic Initiatives - The company launched the PayKool platform, which supports instant issuance of virtual cards and various electronic wallet transactions, enhancing customer experience[36] - The company launched a "Buy Now, Pay Later" service and began offering credit card advances during the reporting period, aiming to capture growth opportunities in the market[63] - The company completed the first phase of the K Cash GO platform's digital transformation project, enhancing business processes and technology components[65] - The company plans to upgrade its artificial intelligence credit model by 2025 to provide more accurate personalized risk-based pricing[67] Market Outlook - The outlook remains cautious due to weak consumer sentiment and a sluggish property market, although government measures are expected to boost the market in the short term[64] Compliance and Governance - The company has maintained compliance with all relevant laws and regulations affecting its lending business during the reporting period[85]
K Cash集团(02483) - 2024 - 年度业绩