Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 18,863,000, a decrease of 48.1% compared to HKD 36,233,000 in 2023[5] - Other income and gains for the same period were HKD 5,177,000, down 48.3% from HKD 10,017,000 in the previous year[5] - Loss before tax for the year was HKD 16,753,000, compared to a loss of HKD 1,617,000 in 2023, representing a significant increase in losses[5] - The net loss for the year was HKD 19,786,000, which is a 115.5% increase from HKD 9,196,000 in the previous year[5] - Basic loss per share for the year was HKD 18.63, compared to HKD 12.18 in 2023, reflecting a 53.7% increase in loss per share[5] - Customer loan interest income for 2024 was HKD 9,163 thousand, down from HKD 36,233 thousand in 2023, indicating a decrease of 74.7%[29] - The group reported a net loss before tax, with significant finance costs and employee expenses contributing to the overall financial performance[30] Assets and Liabilities - Total assets as of December 31, 2024, were HKD 117,753,000, down 36% from HKD 183,950,000 in 2023[7] - Current liabilities decreased to HKD 74,666,000 from HKD 127,570,000 in 2023, a reduction of 41.5%[8] - The company's net asset value decreased to HKD 72,148,000 from HKD 89,512,000, a decline of 19.4%[8] - The total amount of customer loans was HKD 153,890,000 in 2024, down from HKD 199,439,000 in 2023, indicating a significant contraction in lending activity[42] - The net amount of customer loans decreased from HKD 89,833,000 in 2023 to HKD 48,784,000 in 2024, reflecting a significant decline[42] Provisions and Expenses - The expected credit loss provision increased to HKD 5,257,000, up 101.5% from HKD 2,607,000 in 2023[5] - The company incurred a loss of HKD 8,819 thousand during the year, contributing to a cumulative loss of HKD 1,095,958 thousand[9] - The company expects to report a loss of HKD 16,905 thousand, which will further increase the cumulative loss to HKD 1,106,796 thousand[10] - Employee costs (excluding directors' remuneration) totaled HKD 13,643 thousand in 2024, slightly down from HKD 14,176 thousand in 2023, a decrease of 3.8%[30] - The company's administrative and other expenses decreased from approximately HKD 29,302,000 in 2023 to about HKD 23,172,000 in 2024, a reduction of approximately HKD 6,130,000[43] Share Capital and Equity - The issued share capital increased to HKD 938,000 from HKD 782,000, reflecting a growth of 19.9%[8] - For the year ended December 31, 2023, the company reported a total equity of HKD 89,512 thousand, down from HKD 101,315 thousand in the previous year, reflecting a decrease of approximately 11.6%[9] - The company issued new shares during the year, raising HKD 4,119 thousand through a placement[9] - The total net proceeds from the placement of 15,640,000 shares at HKD 0.5 per share amounted to approximately HKD 7,511,000, which was fully utilized to repay short-term debts[59] Taxation - The income tax expense for the year ended December 31, 2024, is HKD 3,033,000, a decrease of 60% from HKD 7,579,000 in 2023[35] - The company's deferred tax expense for the year ended December 31, 2024, is HKD 283,000, compared to a tax credit of HKD 1,084,000 in 2023[35] - The total income tax expense for the year includes withholding tax on dividends of HKD 1,629,000, slightly down from HKD 1,650,000 in 2023[35] Financial Stability - The debt-to-equity ratio improved to approximately 1.9 in 2024 from 2.2 in 2023, indicating better financial stability[48] - As of December 31, 2024, the company had no outstanding bank borrowings, maintaining a debt-free status compared to the previous year[51] - The company has no significant contingent liabilities as of December 31, 2024, similar to the previous year[64] Corporate Governance - The company has adhered to the GEM Listing Rules Appendix C1 Corporate Governance Code throughout the year ended December 31, 2024[69] - The company has adopted a code of conduct for directors' securities transactions equivalent to GEM Listing Rules 5.48 to 5.67, confirming compliance for the year ended December 31, 2024[70] - The audit committee reviewed the audited consolidated financial statements for the year ended December 31, 2024, and provided recommendations to the board[71] - The external auditor confirmed that the financial figures in the announcement are consistent with the audited consolidated financial statements for the year ended December 31, 2024[72] Future Plans - The company plans to upgrade its service platform by incorporating technologies such as big data analytics and artificial intelligence to enhance operational efficiency and customer satisfaction[47] - The company aims to diversify its revenue sources by actively seeking potential merger and acquisition opportunities in China and/or Hong Kong[47]
首都金融控股(08239) - 2024 - 年度业绩