Financial Performance - The total revenue for the year ended December 31, 2024, was HKD 26,292,000, representing a significant increase from HKD 7,594,000 in the previous year, marking a growth of approximately 246%[3] - The net profit for the year was HKD 31,886,000, compared to a net loss of HKD 27,768,000 in the previous year, indicating a turnaround in profitability[3] - The company reported a total comprehensive income of HKD 31,888,000 for the year, compared to a comprehensive loss of HKD 27,765,000 in the previous year[3] - The basic and diluted earnings per share for the year were HKD 3.62, recovering from a loss of HKD 4.00 per share in the previous year[3] - The operating profit for the fiscal year 2024 was HKD 49,819,000, compared to a loss of HKD 9,470,000 in 2023, indicating a turnaround in performance[21] - The company reported a net provision for impairment losses of HKD 13,492,000 for accounts receivable in 2024, down from HKD 15,958,000 in 2023[44] Assets and Liabilities - Total assets as of December 31, 2024, amounted to HKD 143,332,000, a slight increase from HKD 137,973,000 in the previous year[4] - The company's equity increased to HKD 116,586,000 from HKD 84,698,000, indicating a strengthening of the financial position[6] - The total liabilities decreased to HKD 30,160,000 in 2024 from HKD 58,348,000 in 2023, showing improved financial health[21] - Current liabilities decreased to HKD 29,162,000 from HKD 55,717,000, reflecting improved liquidity management[6] - The total assets for the reportable segments amounted to HKD 41,950,000 in 2024, compared to HKD 87,997,000 in 2023, showing a decrease of approximately 52%[17][18] Revenue Segments - Total revenue for the reporting segments reached HKD 32,577,000 in 2024, a significant increase from HKD 7,598,000 in 2023, reflecting a growth of approximately 328%[17] - The revenue from external customers for fees and commissions was HKD 26,120,000 in 2024, compared to HKD 7,090,000 in 2023, indicating an increase of about 268%[17][18] - The net profit from the securities brokerage and financial services segment was HKD 12,841,000 in 2024, a recovery from a loss of HKD 3,009,000 in 2023[17][18] - The corporate finance service revenue surged to HKD 8,000,000 in 2024 from HKD 600,000 in 2023, marking a growth of 1233%[26] - The asset management services revenue rose to HKD 12,471,000 in 2024 from HKD 2,959,000 in 2023, an increase of 321%[26] Cash and Financial Management - The company has maintained a cash and cash equivalents balance of HKD 44,043,000, down from HKD 47,166,000 in the previous year[4] - The group maintained cash and bank balances of approximately HKD 44,000,000 as of December 31, 2024, a decrease of about 6.8% from HKD 47,200,000 in 2023[70] - Financing costs for 2024 were HK$204,000, significantly lower than HK$3,831,000 in 2023[36] - Employee costs decreased to HK$7,792,000 in 2024 from HK$10,929,000 in 2023[37] Corporate Governance and Compliance - The company has established a nomination committee in accordance with listing rules, consisting of the chairman and two independent non-executive directors[84] - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance accountability and transparency[86] - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance throughout the reporting period[87] Future Plans and Strategies - The company plans to continue expanding its financial services and asset management offerings in the upcoming year[8] - The company plans to continue its market expansion and product development strategies in the upcoming fiscal years[15] - The group plans to enhance its securities brokerage business by focusing on debt capital markets and equity capital market transactions to increase underwriting revenue[67] - The group aims to establish more diverse types of funds and develop innovative financial products to expand its client base, particularly targeting high-net-worth individuals and professional investors[67] Other Financial Information - The company did not declare any dividends for the years ending 2024 and 2023[40] - The company does not recommend any dividend payment for the year ending December 31, 2024, consistent with the previous year[61] - Other income for the year 2024 amounted to HK$4,011,000, a decrease from HK$4,933,000 in 2023[35] - The total income tax expense for 2024 was HK$3,842,000, compared to HK$307,000 in 2023[39] - The company reported a financial asset impairment loss reversal of HKD 5,044,000 in 2024, compared to a loss of HKD 483,000 in 2023[17][18]
盛源控股(00851) - 2024 - 年度业绩