Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of HKD 11,407,000, a decrease of 21.3% compared to HKD 14,464,000 for the same period in 2023[6] - The company incurred a pre-tax loss of HKD 17,559,000, compared to a loss of HKD 9,700,000 in the previous year, indicating a significant increase in losses[6] - The total comprehensive loss attributable to owners of the company for the year was HKD 17,558,000, up from HKD 9,562,000 in the prior year, reflecting a 83.5% increase in losses[6] - The company reported a basic and diluted loss per share of HKD 18.29, compared to HKD 9.96 in the previous year, indicating a worsening of financial performance[6] - The group reported a pre-tax loss of HKD 16,462,000 in 2024, compared to HKD 16,886,000 in 2023, indicating a slight reduction in expenses[22] - The net loss for the year was approximately HKD 17,558,000, compared to a loss of approximately HKD 9,562,000 in the previous year[62] - The company reported a pre-tax loss of HKD 17,559,000 for 2024, compared to a loss of HKD 9,700,000 in 2023, reflecting an increase in losses of approximately 81.5% year-over-year[25] Revenue Breakdown - The total revenue for the group in 2024 was HKD 11,407,000, a decrease of 21.3% from HKD 14,464,000 in 2023[19] - The revenue from brokerage services was HKD 2,167,000 in 2024, up by 35.7% from HKD 1,596,000 in 2023[19] - The revenue from corporate finance advisory services decreased to HKD 1,888,000 in 2024 from HKD 2,700,000 in 2023, representing a decline of 30.0%[19] - The revenue from asset management services fell to HKD 221,000 in 2024 from HKD 979,000 in 2023, a decrease of 77.5%[19] - Major clients contributing over 10% of total revenue included Client A with HKD 1,754,000 in 2024, down from HKD 2,001,000 in 2023, and Client B, which contributed HKD 2,560,000 in 2023[22] Assets and Liabilities - The company's total assets decreased to HKD 164,423,000 from HKD 191,062,000, representing a decline of 13.9% year-over-year[8] - The company’s equity attributable to owners decreased to HKD 122,264,000 from HKD 139,822,000, a decline of 12.6%[9] - Current liabilities also decreased to HKD 42,159,000 from HKD 51,239,000, a reduction of 17.7%[9] - Trade receivables from cash clients decreased to HKD 218,000 in 2024 from HKD 794,000 in 2023, while receivables from margin clients fell to HKD 75,509,000 from HKD 88,957,000, showing a decline in both categories[28] - The total value of securities pledged by margin clients as collateral was approximately HKD 201,116,000 in 2024, down from HKD 313,857,000 in 2023, indicating a reduction in collateral value[30] Market and Economic Outlook - The company expects Hong Kong's economy to remain stable, with a projected GDP growth of 3% in 2025, supported by government stimulus policies[63] - The Hang Seng Index increased by approximately 17.7% from about 17,047 points on December 29, 2023, to around 20,060 points on December 31, 2024, reflecting a significant market rebound[38] - The stock and bond markets are expected to remain supported by economic growth, stable inflation, and lower interest rates, with Original Growth SP3 anticipating no recession in 2025[74] - The technology sector is projected to continue delivering strong growth and returns, with the group maintaining a positive outlook on Original Growth SP3's future performance[76] Corporate Strategy and Governance - The company continues to focus on providing financial services, including corporate finance advisory and asset management, as part of its core business strategy[11] - The company is exploring market expansion opportunities and new product development to enhance its service offerings and improve financial performance in the future[11] - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that are not yet effective, indicating a cautious approach to regulatory changes[15] - The company has adhered to the corporate governance code, with the board believing that the current structure provides effective oversight of management[86] - There are no interests held by directors, major shareholders, or their associates in any business that competes directly or indirectly with the group[93] Share Options and Capital Management - As of December 31, 2024, a total of 6,800,000 share options remain unexercised under the share option scheme, representing approximately 7.1% of the company's total issued shares[92] - The total number of share options available for grant under the scheme is 1,200,000, which is about 1.3% of the company's total issued shares[92] - The board has no plans for any significant investments or increases in capital assets as of the announcement date[79] - The company has entered into a loan financing agreement with Weiye Holdings Group Limited, providing a total loan amount not exceeding HKD 192,000,000, with HKD 80,000,000 from its subsidiary Astron Capital Management Limited[84] Future Commitments and Meetings - As of December 31, 2024, the group has future minimum lease payment obligations of approximately HKD 785,000 for office property under non-cancellable operating leases[80] - As of December 31, 2024, the group has no capital commitments[81] - As of December 31, 2024, there are no significant contingent liabilities[82] - The annual general meeting is scheduled for May 23, 2025, with formal notices to be issued in due course[98] - The annual report for the current year will be distributed to shareholders and published on the stock exchange and the company’s website as soon as practicable[103]
阿仕特朗金融(08333) - 2024 - 年度业绩