Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 107,313,000, a decrease of 5% compared to RMB 113,132,000 in 2023[2] - The net profit attributable to shareholders for the year was RMB 5,608,000, down 76.7% from RMB 23,173,000 in the previous year[2] - The segment performance showed a profit of RMB 25,275,000 for 2024, compared to RMB 36,680,000 in 2023, indicating a decrease of about 30.9%[24] - The group reported a net profit of RMB 5,608,000 for the fiscal year 2024, down from RMB 23,173,000 in 2023, which is a significant decline of about 75.8%[24] - The company's profit attributable to shareholders for the year ending December 31, 2024, was approximately RMB 5.6 million, a significant decrease from RMB 23.2 million in 2023, mainly due to expected credit loss provisions and increased employee benefit expenses[119] Income and Revenue Sources - Other income increased to RMB 6,085,000 from RMB 4,871,000, representing a growth of approximately 25%[2] - The external revenue from the financing leasing and factoring services segment was RMB 106,509,000 in 2024, compared to RMB 111,821,000 in 2023, showing a decrease of approximately 4.0%[24] - The group’s income from small loans interest was RMB 106,056,000 in 2024, slightly down from RMB 110,395,000 in 2023, representing a decrease of approximately 3.1%[35] - Interest income from small loans provided by the subsidiary Shenzhen Haosen decreased to approximately RMB 106.1 million, down about 3.9% from RMB 110.4 million in 2023[112] Assets and Liabilities - Total assets decreased to RMB 803,149,000 in 2024 from RMB 784,682,000 in 2023, reflecting a slight increase of 2%[5] - The total liabilities increased to RMB 219,235,000 from RMB 209,244,000, a rise of approximately 4.8%[7] - The group’s total liabilities as of December 31, 2024, were RMB 221,759,000, an increase from RMB 210,982,000 in 2023, indicating a rise of about 5.0%[30] - The total net value of receivables and accounts receivable increased to RMB 721,399,000 in 2024 from RMB 702,019,000 in 2023, representing a growth of approximately 2.0%[50] Credit Loss Provisions - The company reported a significant increase in expected credit loss provisions, rising to RMB 48,738,000 from RMB 43,128,000, indicating a 12% increase[2] - The expected credit loss provision for small loans increased to RMB 84,471,000 in 2024 from RMB 63,461,000 in 2023, reflecting a rise of about 33.0%[59] - The total expected credit loss provision for loans was RMB 96.2 million in 2024, up from RMB 89.5 million in 2023, indicating a 7.5% increase[95] Dividends and Shareholder Returns - The proposed final dividend for the year is RMB 4,269,000, compared to RMB 4,154,000 in the previous year, indicating an increase of 2.8%[9] - The proposed final dividend is RMB 4.411 million, reflecting a commitment to shareholder returns[11] - The proposed final dividend per ordinary share remained at 3 HKD for both 2024 and 2023, with total dividends of RMB 4,411,000 in 2024 compared to RMB 4,269,000 in 2023[44] Operational Strategy and Market Focus - The company adjusted its operational strategy to focus on small loan services, particularly in the real estate sector, due to significant market changes[83] - The company plans to focus on the small loan business in the future[113] - The company is continuously optimizing resource allocation to improve operational efficiency in leasing and factoring businesses amid economic uncertainties[83][84] Risk Management - A risk management system has been implemented to mitigate operational risks, including a top-level risk control committee overseeing various departments[128] - The company is adopting stricter monitoring measures for existing customer risks due to recent volatility in the Chinese economy and financial markets[129] - Plans to enhance the information technology system to collect more accurate data and effectively review customers' financial and operational conditions[131] Employee Expenses - Employee benefit expenses decreased to RMB 14,803,000 in 2024 from RMB 17,735,000 in 2023, a decline of approximately 16.4%[38] - Employee benefit expenses rose by approximately RMB 5.6 million or 27.2% to RMB 26.2 million for the year ending December 31, 2024, attributed to stock options granted to employees[116] Share Options and Repurchase - The company repurchased 166,000 shares at an average price of HKD 2.92 per share, with 126,000 shares canceled and 40,000 shares held as treasury stock[80][81] - The company granted 15,000,000 stock options under the 2023 Stock Option Plan, with an exercise price of HKD 2.20, effective from April 23, 2024, to April 22, 2029[142] Compliance and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2024[160] - The company has adopted the standard code for securities transactions by directors, ensuring compliance with relevant regulations[161] - The board of directors includes both executive and independent non-executive members, ensuring diverse oversight[167]
浩森金融科技(03848) - 2024 - 年度业绩