Company Overview - Finsoft Financial Investment Holdings Limited announced its annual performance for the year ending December 31, 2024[2]. - The company is listed on the GEM of the Stock Exchange of Hong Kong, which is designed for small and mid-sized companies, indicating a higher investment risk[8]. - The company’s headquarters is located in Wanchai, Hong Kong, which serves as its principal place of business[21]. - The stock code for Finsoft Financial Investment Holdings Limited is 8018, which is essential for investors tracking the company's performance[23]. Financial Performance - The Group recorded revenue of approximately HK$49,055,000 for the year ended 31 December 2024, a decrease of approximately 6.3% compared to HK$52,326,000 in the previous year[29]. - Gross profit for the year was approximately HK$27,009,000, a decrease of approximately 13.3% from HK$31,146,000 in 2023, with a gross profit margin of approximately 55.1% compared to 59.5% in 2023[149]. - The Group recorded a net loss after tax of approximately HK$12,338,000 for the year, a decrease of approximately 56.5% from HK$28,346,000 in 2023[151]. - Administrative expenses decreased by approximately 29.1% to approximately HK$36,726,000 from HK$51,787,000 in 2023 due to cost control measures[150]. - The Group's financial software solutions business faced revenue decline due to local economic stagnation and market competition, while the money lending business saw increased revenue[148]. Revenue Sources - The principal operating subsidiary, iAsia, contributed approximately 95.4% of the Group's revenue, with a revenue decrease of approximately 8.3% to HK$46,780,000[30]. - Revenue from the Group's money lending business increased by approximately 73.7% to HK$2,275,000, contributing approximately 4.6% of total revenue[31]. - The revenue from the money lending business division amounted to approximately HK$2,275,000, representing an increase of approximately 73.7% compared to HK$1,310,000 in 2023[55]. Risk Management - The report emphasizes the potential risks associated with investing in GEM-listed companies, advising investors to consider these risks carefully[12]. - The risk appetite for corporate investment and personal consumption is expected to remain conservative due to geopolitical uncertainties and a sluggish property market[37]. - The Group plans to implement stringent cost control measures and improve operational efficiency while exploring new business opportunities[38]. - The Group's management continuously monitors loan and interest receivables balances to minimize credit risks and default risks associated with the money lending business[64]. Loan Management - The Group's loan receivables balance (net of loss allowance) was approximately HK$35,677,000, an increase from approximately HK$24,479,000 in 2023[56]. - The ageing analysis of loan receivables showed that overdue loans amounted to HK$21,073,000, compared to HK$20,806,000 in 2023[63]. - The provision for impairment loss on loan and interest receivables is assessed under the expected credit loss (ECL) model, considering factors such as probability of default, loss given default, and exposure at default[78]. - The company has implemented internal control procedures to minimize credit and default risks associated with lending activities[66]. Corporate Governance - The board of directors confirmed that the information in the report is accurate and complete in all material respects[11]. - The company has a compliance officer and various board committees to ensure governance and regulatory adherence[19]. - The Company complied with all applicable code provisions set out in the Corporate Governance Code during the Year[193]. - All Directors confirmed compliance with the required standard of dealings regarding securities transactions during the Year[194]. Future Plans - The Group aims to diversify its income sources by seeking opportunities in IT services related to artificial intelligence and blockchain technology[47]. - iAsia will continue to strengthen its research and customer support capabilities to develop new products according to market trends[45]. - The Group plans to engage lawyers for advice on loan recovery and enforcement actions[96]. - The Group will continue to focus on strengthening product design and development capabilities to maximize long-term returns for shareholders[118]. Shareholder Information - Shareholders' equity increased to approximately HK$51,709,000 as of December 31, 2024, compared to HK$37,536,000 in 2023[159]. - The group did not recommend any dividend payment for the year, consistent with 2023[171].
汇财金融投资(08018) - 2024 - 年度业绩