Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 881,083,621, representing a 62.2% increase from HKD 543,354,617 in 2023[3] - Commission and fee income increased to HKD 301,859,422, up 80.7% from HKD 166,897,751 in the previous year[3] - Net trading and investment income rose to HKD 420,357,867, a 64.9% increase compared to HKD 254,606,269 in 2023[3] - Profit before tax for the year was HKD 134,267,821, which is an 83.6% increase from HKD 73,157,762 in 2023[3] - Net profit for the year reached HKD 108,088,890, doubling from HKD 54,564,283 in the previous year[3] - Basic and diluted earnings per share increased to HKD 0.0231 from HKD 0.0136, reflecting a 70.8% growth[3] - Total comprehensive income for the year was HKD 127,936,255, slightly down from HKD 129,064,496 in 2023[5] Revenue Breakdown - The wealth management segment generated revenue of HKD 196,130,503 in 2024, compared to HKD 141,480,410 in 2023, which is an increase of approximately 38.7%[19][21] - The asset management and investment segment reported a revenue of HKD 543,053,774 in 2024, significantly higher than HKD 346,182,408 in 2023, representing a growth of about 56.8%[19][21] - Corporate finance revenue surged by 219.84% to HKD 130.59 million, primarily due to a rebound in the capital markets and significant growth in bond underwriting[79] - Financial products and investment revenue increased by 56.87% to HKD 543.05 million for the year ended December 31, 2024, up from HKD 346.18 million in 2023[84] Assets and Liabilities - Non-current assets totaled HKD 964,100,192, up from HKD 594,717,619 in the previous year[7] - Current liabilities decreased to HKD 10,316,187,272 from HKD 11,521,766,372 in 2023, indicating improved financial stability[8] - Total equity increased to HKD 4,236,078,453 from HKD 4,123,942,198, showing a growth of 2.7%[8] - Total assets decreased by 4.95% to HKD 15,732.77 million as of December 31, 2024, down from HKD 16,552.02 million in 2023[85] - Total liabilities decreased by 7.49% to HKD 11,496.69 million as of December 31, 2024, compared to HKD 12,428.08 million in 2023[85] Cash Flow and Dividends - Net cash inflow for the year ended December 31, 2024, was HKD 69.14 million, a significant improvement from a cash outflow of HKD 811.80 million in 2023[86] - The proposed final dividend for the year ending December 31, 2024, is HKD 0.01 per share, totaling HKD 40,000,000, subject to shareholder approval[65] - The board proposed a final dividend of HKD 0.01 per share for the year ended December 31, 2024, compared to no dividend in 2023[95] Risk Management - The group implements a risk preference, limit management, and authorization management system to ensure risks are controlled within a reasonable range[100] - The group closely monitors credit risk exposure and conducts regular stress tests to mitigate potential losses[101] - The liquidity risk management system is in place to ensure sufficient funds are available to meet obligations and operational needs[103] - The operational risk management framework aims to reduce the frequency and impact of operational risk events[107] - A robust compliance and legal risk management framework is in place to ensure adherence to evolving regulations[110] Market Position and Strategy - The company was among the first to obtain the "Cross-Border Wealth Management Connect" pilot qualification, enhancing its wealth management business prospects[72] - The company issued 42 green bonds, raising over HKD 80 billion, significantly higher than previous years, showcasing its commitment to ESG principles[75] - The company ranked 9th among Chinese brokers in Hong Kong for bond underwriting volume, improving its market position[81] - The company plans to enhance wealth management services and explore innovative business models in asset management for 2025[89] Employee and Governance - The total number of full-time employees decreased to 209 as of December 31, 2024, from 230 in 2023, with total compensation rising to HKD 238.85 million from HKD 196.92 million[93] - The company adhered to the corporate governance code, with the exception of one independent non-executive director's absence from the special general meeting due to other commitments[121] - The audit committee reviewed the group's annual performance for the year ending December 31, 2024, and confirmed compliance with applicable accounting standards and regulations[124]
兴证国际(06058) - 2024 - 年度业绩