Financial Performance - The company's revenue decreased by approximately 21.1% from about HKD 14.5 million in the previous year to about HKD 11.4 million this year[11]. - The net loss attributable to shareholders increased from approximately HKD 9.6 million in the previous year to about HKD 17.6 million this year[11]. - The total revenue for the group decreased by 21.1% from HKD 14,464,000 in 2023 to HKD 11,407,000 in 2024[23]. - The pre-tax loss increased by 81.0% from HKD 9,700,000 in 2023 to HKD 17,559,000 in 2024[22]. - The net loss for the year was approximately HKD 17,558,000, compared to a loss of approximately HKD 9,562,000 in the previous year[30]. - The total equity decreased by 12.6% from HKD 139,822,000 in 2023 to HKD 122,264,000 in 2024[22]. - The company reported a fair value loss of approximately HKD 2.7 million on financial assets measured at fair value through profit or loss this year[11]. - Other income decreased by approximately 3.3% to about HKD 2,858,000 from approximately HKD 2,955,000 in the same period last year, primarily due to a drop in commission income and the absence of rental income from a yacht[26]. - The group reported a significant decrease in distributable reserves, approximately HKD 46,402,000 as of December 31, 2024, down from HKD 63,193,000 in the previous year[127]. - The company did not recommend the distribution of dividends for the current year, consistent with the previous year where no dividends were distributed[119]. Market Conditions - The economic growth in Hong Kong for 2024 was approximately 2.5%, down from 3.2% in 2023, primarily due to a slight decline in private consumption expenditure[9]. - The Hang Seng Index recorded an annual increase of approximately 17.7%, closing at around 20,060 points by the end of 2024[10]. - The average daily turnover in the Hong Kong securities market increased by 25.5% from HKD 105 billion in 2023 to HKD 131.8 billion in 2024[15]. - The total capital raised from initial public offerings (IPOs) rose by 89.6% from HKD 46.3 billion in 2023 to HKD 87.8 billion in 2024[15]. Business Strategy - The company plans to focus on placement and underwriting services as well as corporate finance advisory services moving forward[12]. - The company aims to explore new business opportunities and maximize returns for shareholders in the coming year[12]. - The company will continue to monitor regulatory updates and compliance requirements in the Hong Kong financial market[12]. - The company will regularly review and adjust its business strategies using a prudent and balanced risk management approach[12]. Client and Revenue Dynamics - The number of active clients decreased from 173 in 2023 to 146 in 2024, with the top ten clients contributing approximately 64.3% of commission income[17]. - Commission income from brokerage services increased by 35.8% to approximately HKD 2,167,000 in 2024, compared to HKD 1,596,000 in 2023[23]. - The income from asset management services dropped by 77.4% from HKD 979,000 in 2023 to HKD 221,000 in 2024 due to the termination of the Astrum China Fund[25]. Corporate Governance - The company is committed to maintaining high levels of corporate governance to protect stakeholder interests and enhance confidence and support[60]. - The company has adopted all code provisions of the corporate governance code as set out in the GEM Listing Rules[60]. - The board consists of 6 members, including 3 executive directors and 3 independent non-executive directors, ensuring compliance with GEM listing rules[65]. - The company has established three board committees: the remuneration committee, nomination committee, and audit committee, to oversee specific matters[72]. - The board is responsible for leading and monitoring the group, aiming to maximize long-term shareholder value while balancing stakeholder interests[65]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes responsible investment and aims to reduce its carbon footprint while creating a diverse and inclusive workplace[62]. - The board has established an Environmental, Social, and Governance (ESG) working group to manage ESG matters across the company's business sectors[62]. - The company has implemented green office measures to reduce energy and natural resource consumption[140]. - The company has adopted a "green office" policy to reduce energy consumption and waste, including the use of energy-efficient LED lighting[193]. - The company provides regular ESG training and guidance to employees to enhance awareness and integration of ESG initiatives[186]. Risk Management - The group faces various financial risks, including credit and liquidity risks, with a focus on minimizing potential adverse impacts on financial performance[47][49]. - The company has a risk management and internal control system in place to ensure compliance with applicable laws and regulations[68]. - The board is responsible for evaluating the nature and extent of risks acceptable in achieving strategic objectives and ensuring effective risk management and internal control systems are in place[96]. Employee Relations - The total employee costs for the year were approximately HKD 16,462,000, a decrease from approximately HKD 16,886,000 in the previous year[32]. - The company has maintained harmonious relationships with employees, customers, and business partners, with no complaints received during the year[141]. - The company promotes a healthy work-life balance and organizes various employee activities to foster a harmonious work environment[198]. - The total number of employees remained stable at 24 for both 2023 and 2024, with no part-time employees reported[200]. Related Party Transactions - The group conducted ongoing related party transactions, including financing service agreements with Mr. Pan and Mr. Kwan, which required compliance with GEM Listing Rules[159]. - The financing service agreements with Mr. Pan and Mr. Kwan exceeded the thresholds requiring independent shareholder approval, which was obtained at a special meeting[164][165]. - Independent non-executive directors reviewed and confirmed that the ongoing related party transactions were conducted on normal commercial terms and in the best interest of shareholders[168].
阿仕特朗金融(08333) - 2024 - 年度财报