Financial Performance - For the year ended December 31, 2024, the Group's revenue was approximately HK$38.9 million, a decrease of approximately 41.4% compared to HK$66.3 million in 2023[8]. - The gross profit for the year was approximately HK$11.2 million, down approximately 26.0% from HK$15.2 million in 2023[9]. - The Group reported a net loss of approximately HK$45.5 million, primarily due to a provision for expected credit loss of approximately HK$27.0 million[9]. - Interest income from the money lending business was approximately HK$11.8 million for the year[10]. - The revenue from trading used computer-related components was approximately HK$26.9 million, with a net loss of HK$5.8 million for that segment[23]. Assets and Liabilities - The total outstanding loan receivables amounted to approximately HK$91.7 million, with an interest rate of 8-10%[29]. - The Group had cash and bank balances of approximately HK$29.9 million and net current assets of approximately HK$199.2 million as of December 31, 2024[27]. - The Group's current ratio was 7.2 and the gearing ratio was 0.003 as of December 31, 2024[27]. - As of December 31, 2024, the total market value for financial assets at fair value through profit or loss (FVTPL) was approximately HK$80.9 million, an increase from HK$78.3 million in 2023[66]. - The Group's total assets as of December 31, 2024, amounted to HK$231,468,000[72]. Loan Portfolio - The largest borrower accounted for approximately HK$9.6 million, representing about 10.5% of total loan receivables, while the top five borrowers accounted for approximately HK$37.8 million, or 41.2% of total loan receivables[32]. - The expected credit loss (ECL) for loan receivables included an impairment loss of approximately HK$34.8 million due to certain receivables being transferred to stage 3[45][46]. - The Group's loan portfolio consisted of 40 borrowers, including 3 corporate borrowers and 37 personal borrowers[37]. - The Group's funding for money lending transactions is primarily sourced from internal resources, with all loan receivables maturing within twelve months[39]. Corporate Strategy and Development - The Group is evaluating different business segments and repositioning its strategy to focus on more optimistic areas[15]. - The Group aims to broaden its income stream through potential investments and business opportunities[15]. - The net proceeds from the placing amounted to approximately HK$56.2 million, intended for the further development and operations of the virtual asset trading platform[56][58][62]. - The Group plans to utilize approximately HK$18.0 million for web application development, HK$11.0 million for equipment acquisition, and HK$8.4 million for staff costs and consultancy fees[62][64]. - Approximately HK$18.3 million of the net proceeds remained unutilized as of the last reporting period, which the Group intends to reallocate to general working capital[62][65]. Corporate Governance - The company emphasizes high standards of corporate governance, focusing on a quality board, sound internal controls, transparency, independence, and accountability to all shareholders[106]. - The group applied the principles of the Corporate Governance Code during the year ended December 31, 2024, ensuring compliance with the Listing Rules[107]. - The company conducts periodic reviews of its corporate governance practices to meet ongoing requirements of the Corporate Governance Code[108]. - The board is responsible for promoting the success of the company by providing leadership and supervising the control of the business[108]. - The company has a commitment to diversity in hiring, considering gender diversity among other factors[88]. Board Composition and Meetings - The Board consists of 2 Executive Directors and 3 Independent Non-Executive Directors, meeting the Listing Rules requirement of at least three independent directors, representing one-third of the total Board members[113][115]. - The Company conducted 4 Board meetings during the year ended December 31, 2024, with all Directors attending all meetings[128][130]. - The Audit Committee held 2 meetings during the year ended December 31, 2024, with all members attending both meetings[146]. - The Remuneration Committee held 1 meeting during the year ended December 31, 2024, with all members in attendance[149]. - The Nomination Committee, established on April 1, 2012, also held one meeting in the same period, with all members present[154]. Risk Management and Internal Controls - The Company maintains an effective risk management and internal control system to ensure operational efficiency and compliance with laws[166]. - The Group's risk management and internal control systems are designed to provide reasonable assurance against material misstatement or loss, rather than absolute assurance[179]. - An external consultant was engaged to review the internal control system and risk management, with no significant areas of concern identified that could affect financial, operational, compliance, control, and risk management[178]. - The Board confirmed that the Group's risk management and internal control systems were adequate and effective[179]. - The Group does not have an internal audit department but conducts annual reviews to assess the necessity of establishing one[177]. Shareholder Communication and Dividends - The Board does not recommend the payment of a final dividend for the year ended December 31, 2024, consistent with 2023[85]. - The Company has implemented a Dividend Policy aimed at enhancing transparency and facilitating informed investment decisions since January 2019[198]. - Factors considered for declaring interim and final dividends include the Group's actual and expected financial performance, working capital requirements, and retained earnings[200]. - The Board maintains ongoing communication with shareholders, providing at least 21 days' notice for annual general meetings and 14 days for other meetings[192]. - The Company has a dedicated website for shareholder communication, which has been reviewed for effectiveness during the year ended December 31, 2024[197].
新确科技(01063) - 2024 - 年度业绩