Financial Performance - The company's net profit attributable to shareholders reached HKD 87.7 million, an increase of 122.5% compared to the previous year[5] - Basic earnings per share were HKD 14.68, up from HKD 6.60 in the previous year[6] - Total revenue increased to HKD 226.6 million, a rise of 5.4% from HKD 214.6 million[6] - Operating profit improved to HKD 8.2 million, compared to HKD 3.6 million in the previous year[6] - The company reported a significant increase in dividend income, rising to HKD 16.4 million from HKD 2.7 million[6] - The total comprehensive income for the year was a loss of HKD 188.8 million, compared to a loss of HKD 120.3 million in the previous year[7] - The company’s net profit for the year was HKD 87,696,000, compared to HKD 39,409,000 in 2023, marking a significant increase of about 122%[25] - The basic earnings per share for 2024 was HKD 0.1468, up from HKD 0.066 in 2023, representing an increase of HKD 0.0808[47] Assets and Liabilities - Total assets decreased by 2.8% to HKD 8.92 billion[8] - Total equity attributable to shareholders fell by 3.1% to HKD 7.82 billion[9] - The total assets of the company reached HKD 9,184,725,000 in 2024, compared to HKD 8,915,071,000 in 2023, reflecting a growth of approximately 3%[25] - The company’s total liabilities were HKD 1,096,924,000 in 2024, slightly down from HKD 1,115,275,000 in 2023, indicating a decrease of about 1.6%[25] - As of December 31, 2024, total liabilities amounted to HKD 1,096.92 million, a decrease from HKD 1,115.28 million in 2023, representing 14% of total equity (2023: 13.8%)[62] Segment Performance - The group reports its performance based on segments that include financial services, insurance, property investment, and strategic investments[21] - The financial services segment includes banking operations in mainland China, Hong Kong, and Macau, as well as micro-lending activities in mainland China[21] - The insurance segment encompasses general insurance operations in Hong Kong and Macau[21] - The financial services segment recorded an after-tax profit of HKD 107.73 million in 2024, up 93.7% from HKD 55.63 million in 2023[48] - The insurance services segment achieved a profit of HKD 21.42 million for the fiscal year, an increase of 85.9% compared to HKD 11.52 million in 2023[44] Income and Expenses - Interest income for the year was HKD 49,538,000, up from HKD 44,446,000 in 2023, indicating an increase of about 11.8%[26] - The company’s administrative expenses decreased to HKD 53,730,000 in 2024 from HKD 56,566,000 in 2023, a reduction of approximately 5%[25] - The company reported a total of HKD 36,922,000 in other income for 2024, an increase from HKD 34,239,000 in 2023, representing a growth of about 7.9%[26] - The company’s financial costs were reported at HKD 41,366,000 for 2024, a decrease from HKD 44,154,000 in 2023, reflecting a reduction of about 6.4%[25] - The group’s employee costs, including directors' remuneration, decreased to HKD 40,695,000 in 2024 from HKD 42,517,000 in 2023[29] Dividends and Recommendations - The group did not recommend a final dividend for the year ended December 31, 2024, compared to a final dividend of HKD 0.09 per share totaling HKD 53,753,152.68 in 2023[38] - The company did not recommend a final dividend for the fiscal year 2024 due to market challenges and to retain cash for future investment opportunities[42] Financial Reporting and Compliance - The company has submitted consolidated financial statements for the year ending December 31, 2023, and will submit the statements for the year ending December 31, 2024, at an appropriate time[12] - The auditors have issued reports on the consolidated financial statements for both years without any reservations or matters of emphasis[12] - The adoption of the revised Hong Kong accounting standards did not have a significant impact on the group's financial performance or position for the current or prior periods[14] - The group has not early adopted new standards that are not yet effective, which are expected to have no significant impact on the group's financial condition or performance[16] - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and methods adopted by the group[83] Market and Economic Conditions - The group maintained a cautious optimism regarding business growth and financial performance for the fiscal year 2025, focusing on prudent risk management and business diversification[45] - The group is subject to various insurance and financial risks, including market risk, credit risk, and liquidity risk[73] Miscellaneous - The company has not repurchased, sold, or redeemed any of its issued shares during the year[79] - The group employed 70 staff members as of December 31, 2024, with compensation based on individual performance and qualifications[68] - The group had no significant contingent liabilities as of December 31, 2024, and 2023[67]
闽信集团(00222) - 2024 - 年度业绩