Financial Performance - The group's revenue for the year ended December 31, 2024, was approximately HKD 24,000,000, a decrease of about 21.6% compared to HKD 30,600,000 in 2023[14]. - Gross profit for the year was approximately HKD 23,000,000, down from HKD 29,600,000 in 2023[17]. - The net loss for the year was approximately HKD 24,700,000, compared to a net profit of HKD 9,200,000 in 2023[17]. - The financial performance reflects the challenges faced in the market, necessitating strategic adjustments moving forward[17]. - The company reported a net loss of approximately HKD 24,700,000 for the year, a significant decline from a net profit of approximately HKD 9,200,000 in the same period last year[23]. - The company's total revenue decreased to approximately HKD 24,000,000, reflecting a decline of about 21.6% compared to HKD 30,600,000 in 2023[52]. Dividend and Shareholder Matters - The board of directors did not recommend the payment of a final dividend, consistent with the previous year[17]. - The board does not recommend the declaration of a final dividend for the year ending December 31, 2024[122]. - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[123]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to enhance management efficiency and protect shareholder interests[84]. - The company believes it has complied with all provisions of the GEM Corporate Governance Code for the year ending December 31, 2024, except for one provision regarding attendance at shareholder meetings[84]. - The board is committed to accountability and transparency in its operations[84]. - The board of directors is committed to enhancing shareholder value through effective governance and oversight of the company's operations[88]. - The company has established mechanisms for independent directors to express their opinions openly and confidentially[94]. Employee Matters - The employee costs, including director remuneration and retirement benefits, amounted to approximately HKD 6,600,000, an increase from HKD 5,300,000 in the previous year[73]. - The group has a total of approximately 18 employees as of December 31, 2024, down from 20 in the previous year[73]. - The overall employee turnover rate for the reporting period was 16.7%, with 3 employees leaving the company[174]. - The company has a total of 11 male and 7 female employees, reflecting a diverse workforce[172]. - 100% of senior management and other employees received training in the reporting period[183]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development and considers various environmental and social factors in decision-making[130]. - The ESG report outlines the company's measures, plans, and performance in sustainable development, highlighting the importance of integrating ESG principles into risk management[125]. - The company will continuously assess the key environmental, social, and governance aspects of different businesses to determine their inclusion in the ESG report[128]. - Stakeholder engagement is crucial for business development and sustainable practices, with regular activities to maintain ongoing dialogue[132]. - The company has implemented various environmental measures to reduce carbon emissions and improve resource efficiency, including a target to reduce greenhouse gas emissions by 10% by 2030[166]. Risk Management and Compliance - The board is responsible for the effectiveness of the risk management and internal control systems, which were reviewed and deemed effective during the year[112]. - The company has established an anti-corruption policy for all employees, senior officers, and directors to comply with anti-corruption laws[196]. - All employees are prohibited from offering or receiving any form of bribes, commissions, or kickbacks under any circumstances[197]. - The group generally prohibits the payment of facilitation payments, with exceptions requiring prior board approval[198]. Financial Services and Market Position - The company has established a strong reputation in providing comprehensive financial services, including securities brokerage and asset management[12]. - The company aims to leverage its established market position to explore new growth opportunities in the financial services sector[12]. - The company aims to expand its financial services offerings and build long-term client relationships despite facing regulatory changes and intense competition[25]. - The outlook for the industry remains challenging due to economic and regulatory pressures, but the company is committed to risk management and sustainable growth strategies[29]. Asset and Liability Management - The total assets decreased to HKD 474,004,000 from HKD 478,246,000, indicating a decline of 0.5% year-over-year[19]. - The total liabilities decreased significantly to HKD 77,822,000 from HKD 91,241,000, a reduction of 14.7%[19]. - The company recorded loan interest income of approximately HKD 8,000,000 for the year, representing 33.1% of total revenue, an increase from 24.3% in the previous year[44]. - As of December 31, 2024, the company had outstanding loans and interest receivables of HKD 63,300,000, down from HKD 68,800,000 in 2023[44]. Audit and Financial Review - The annual report has been reviewed by the company's audit committee, ensuring compliance with GEM listing rules[3]. - The company is committed to transparency and accuracy in its financial disclosures, as confirmed by the board of directors[3]. - The external auditor's fees for audit services amounted to approximately HKD 700,000 for the year ending December 31, 2024, unchanged from the previous year[110].
树熊金融集团(08226) - 2024 - 年度业绩