Financial Performance - The group's revenue decreased by approximately 6.5% from about HKD 24.1 million for the year ended December 31, 2023, to about HKD 22.6 million for the year ended December 31, 2024[4]. - Profit for the year ended December 31, 2024, decreased by approximately 24.4% to about HKD 6.7 million, down from HKD 8.9 million for the year ended December 31, 2023[4]. - Basic earnings per share for the year ended December 31, 2024, were approximately HKD 0.81, compared to HKD 1.11 for the year ended December 31, 2023[4]. - Revenue and profit after tax decreased by 6.5% and 24.4% to HKD 22.6 million and HKD 6.7 million, respectively[27]. - The group generated a profit of approximately HKD 6.7 million for the year, compared to HKD 8.9 million in the previous year, resulting in a profit margin of 29.8% (previous year: 36.9%)[37]. Assets and Liabilities - Total assets increased to HKD 88.993 million for the year ended December 31, 2024, from HKD 71.674 million for the year ended December 31, 2023[6]. - Current liabilities rose to HKD 36.405 million for the year ended December 31, 2024, compared to HKD 21.465 million for the year ended December 31, 2023[7]. - The company's net asset value increased to HKD 52.588 million for the year ended December 31, 2024, from HKD 7.653 million for the year ended December 31, 2023[7]. - The company's total assets increased from HKD 71.7 million to HKD 89.0 million, and net assets rose from HKD 7.7 million to HKD 52.6 million[26]. Revenue Sources - The group reported segment revenue of HKD 22,577,000 for the year ending December 31, 2024, with brokerage services contributing HKD 18,932,000 and lending services contributing HKD 3,645,000[16]. - Revenue from brokerage services, specifically securities trading, increased to HKD 16,975,000 from HKD 12,841,000, representing a growth of approximately 32.5% year-over-year[17]. - Revenue from brokerage services, related advisory services, and margin financing was approximately HKD 18.9 million, a decrease of about HKD 3.5 million or approximately 15.6% compared to the previous year, primarily due to reduced placement and advisory fee income[29]. Dividends - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2024[4]. - The company did not declare or propose any dividends for the year ended December 31, 2024, consistent with the previous year[20]. - The company does not recommend the payment of a final dividend for the year[52]. Employee Costs - The total employee costs decreased from HKD 6.19 million to HKD 4.87 million, with a significant reduction in director remuneration from HKD 2.04 million to HKD 541,000[19]. - The group employed 7 employees as of December 31, 2024, down from 15 in the previous year, with total employee costs amounting to approximately HKD 4.9 million, a reduction from about HKD 6.2 million[34]. Financial Standards and Reporting - The group adopted revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the current or past financial performance[11]. - The group expects that the implementation of Hong Kong Financial Reporting Standard No. 18 will not have a significant impact on its financial position but may affect the presentation of the income statement and cash flow statement in future reports[13]. - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective, indicating a cautious approach to regulatory changes[12]. - The group's revenue decreased by approximately 6.5% from about HKD 24.1 million to approximately HKD 22.6 million due to a reduction in placement and advisory fee income, partially offset by increases in securities trading brokerage service income and interest income from margin financing and loans[28]. Audit and Governance - The company has established an Audit Committee consisting of three independent non-executive directors[56]. - The Audit Committee is responsible for independent reviews of internal audit functions, financial reporting processes, internal controls, and risk management systems[56]. - The audited financial results for the year ending December 31, 2024, have been reviewed by the Audit Committee[56]. - The annual report for 2024 will be published on the Hong Kong Stock Exchange and the company's website[57]. Future Outlook - The board maintains a cautiously optimistic outlook for 2025, despite ongoing economic uncertainties in Hong Kong, with the Hang Seng Index rising approximately 20% since the beginning of 2025[38]. - The group plans to integrate resources and simplify operations through the "Bridge" platform, aiming for competitive advantages and economies of scale[38]. - The group plans to achieve cost savings in the future by relocating and sharing office space with other businesses of the controlling shareholder after the office lease expires in November 2024[35]. Risk Management - The group does not foresee significant credit risk due to comprehensive credit policies and all bank balances being held in recognized banks in Hong Kong and Macau[39]. - The group has improved its liquidity position through the proceeds from the placement of notes at the beginning of 2023[40]. - The group does not have any significant contingent liabilities as of December 31, 2024[42]. - There are no major investments or capital asset plans disclosed beyond what is mentioned in the management discussion[43].
立桥证券控股(08350) - 2024 - 年度业绩