Financial Performance - The company reported total revenue of HKD 261,781,000 for the year ending December 31, 2024, representing a 33.1% increase from HKD 196,609,000 in 2023[3] - Operating profit increased to HKD 42,671,000 in 2024, up from HKD 27,160,000 in 2023, marking a 57.1% growth[3] - Net profit attributable to shareholders rose to HKD 27,075,000, compared to HKD 12,136,000 in the previous year, reflecting a 123.5% increase[3] - Basic and diluted earnings per share improved to HKD 1.01 in 2024, up from HKD 0.45 in 2023, a growth of 124.4%[3] - Total revenue for the year ended December 31, 2024, was HKD 261,781,000, an increase from HKD 196,609,000 in 2023, representing a growth of approximately 33.1%[13] - For the year ended December 31, 2024, the company recorded revenue of HKD 261,781,000 and profit of HKD 27,075,000, compared to revenue of HKD 196,609,000 and profit of HKD 12,136,000 for the year ended December 31, 2023, representing a revenue increase of approximately 33% and a profit increase of approximately 123%[36] Assets and Liabilities - The company's total assets grew to HKD 1,400,616,000 in 2024, up from HKD 1,264,977,000 in 2023, indicating an increase of 10.7%[4] - Non-current assets decreased to HKD 870,480,000 in 2024 from HKD 769,465,000 in 2023, a decline of 13.1%[4] - The company’s total liabilities increased to HKD 307,662,000 in 2024, compared to HKD 184,202,000 in 2023, representing a 67.0% rise[5] - Total assets increased to HKD 1,400,616,000 as of December 31, 2024, from HKD 1,264,977,000 in 2023, reflecting a growth of approximately 10.7%[19] - Total liabilities rose to HKD 307,662,000 in 2024, up from HKD 184,202,000 in 2023, marking an increase of about 67%[19] Income and Expenses - Employee benefits expenses increased to HKD 37,091,000 in 2024 from HKD 24,768,000 in 2023, reflecting a 49.6% rise[3] - The company incurred a net loss of HKD 6,000,000 from fair value losses on investment properties, an improvement from a loss of HKD 9,000,000 in 2023[3] - The company reported a net loss of HKD 2,833,000 from other losses in 2024, compared to a loss of HKD 467,000 in 2023, indicating a deterioration in this area[20] - Research and development expenses amounted to HKD 4,674,000 in 2024, with no corresponding expenses reported in 2023, highlighting a new investment in innovation[20] - The total unallocated expenses for 2024 were HKD 9,086,000, compared to HKD 8,235,000 in 2023, indicating an increase of about 10.4%[13] Customer and Market Information - The company did not have any single customer contributing 10% or more to total revenue for both 2024 and 2023, indicating a diversified customer base[17] - The number of active customers for unsecured loans increased from 13,491 as of December 31, 2023, to 15,523 as of December 31, 2024, contributing to an income of approximately HKD 211,117,000 for the year ending December 31, 2024, up from HKD 157,548,000 in 2023[42] - The top 10 customers accounted for 72% of the total receivables for mortgage loans as of December 31, 2024[43] Loan and Credit Information - Interest income from financial lending operations was HKD 257,469,000 in 2024, compared to HKD 194,529,000 in 2023, showing a growth of approximately 32.4%[20] - The weighted average annual interest rate for unsecured loans is approximately 40%, with loan amounts ranging from HKD 5,000 to HKD 800,000[43] - The group focuses on mortgage loans secured by residential properties in Hong Kong, with approved loan amounts ranging from HKD 80,000 to HKD 100,000,000[43] - The group has established a rigorous control framework for credit approval and renewal processes to mitigate risk concentration[44] - The group utilizes a data-driven approach for loan applications through the X Wallet app, allowing for automated credit assessments[41] Investment and Strategic Initiatives - The group acquired all issued shares of Alpha Moment Technology Limited for approximately HKD 25 million, aiming to enhance its strategic value in the IT sector[49] - The launch of the upgraded X Wallet application, featuring X Lend and X Pay, marks a significant milestone in establishing a leading fintech innovation enterprise in Hong Kong[52] - The group plans to implement strict loan application requirements and enhance risk pricing models to minimize default risks[51] - The group will not explore investment opportunities in the property market in the short term due to the downturn in the Chinese property market[52] - The group aims to promote the X Wallet and X Pay brands through various marketing strategies to increase market awareness[51] Governance and Compliance - The company has adhered to the corporate governance code and has revised its articles to ensure that all directors are subject to rotation every three years[60] - The audit committee, chaired by Mr. Shu Huadong, reviews the company's accounting principles and practices at least twice a year to ensure the accuracy and fairness of financial statements[61] - The audit committee has reviewed the audited consolidated financial statements for the year ending December 31, 2024[62] - PwC confirmed that the preliminary financial statements align with the draft figures prepared by the group for the year ending December 31, 2024, but did not provide any assurance or opinion on the preliminary announcement[63] - The company is committed to maintaining the independence of external auditors and overseeing their work[61] Staffing and Employee Benefits - The group employs 112 staff members, providing benefits including insurance and provident fund plans[56]
TERMBRAY IND(00093) - 2024 - 年度业绩