Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 89,879,000, an increase of 2.3% from HKD 87,860,000 in 2023[4] - Other income rose to HKD 2,256,000, up 28.5% from HKD 1,756,000 in the previous year[4] - Profit before tax decreased to HKD 55,047,000, down 8.8% from HKD 60,157,000 in the prior year[4] - Net profit attributable to owners of the company was HKD 45,760,000, a decline of 9.4% from HKD 50,304,000 in 2023[4] - Basic earnings per share decreased to HKD 11.4, down from HKD 12.6, reflecting a 9.5% decline[4] - The group's profit and total comprehensive income for fiscal year 2024 was HKD 45,800,000, a decrease of HKD 4,500,000 or 9.0% from HKD 50,300,000 in fiscal year 2023[57] Expenses and Liabilities - Administrative expenses increased to HKD 25,055,000, representing a rise of 10.2% compared to HKD 22,714,000 in 2023[4] - Total employee benefit expenses, including director remuneration, rose to HKD 12,072,000 in 2024, up from HKD 10,722,000 in 2023, reflecting a 12.6% increase[17] - The total tax expense for the year ended December 31, 2024, was HKD 9,287,000, compared to HKD 9,853,000 in 2023, indicating a decrease of 5.7%[22] - The company recorded a credit loss expense of HKD 8,431,000 for the year ended December 31, 2024, compared to HKD 4,683,000 in 2023, reflecting an increase of 79.5%[18] - Total liabilities decreased to HKD 12,847,000 from HKD 15,616,000, indicating a reduction of 17.7%[6] Assets and Cash Flow - Total assets as of December 31, 2024, amounted to HKD 953,731,000, a slight increase from HKD 930,740,000 in 2023[5] - Cash and cash equivalents increased significantly to HKD 181,823,000 from HKD 52,317,000, representing a growth of 248%[5] - The current ratio improved from 44.8 times on December 31, 2023, to 57.7 times on December 31, 2024[62] - The return on total assets decreased from 5.4% on December 31, 2023, to 4.8% on December 31, 2024[64] - The return on equity decreased from 5.5% on December 31, 2023, to 4.9% on December 31, 2024[64] Revenue Sources and Market Conditions - The company's total revenue is generated from mortgage and personal loan businesses in Hong Kong, with no external revenue or assets reported from outside Hong Kong[15] - The local GDP growth in Hong Kong was approximately 2.5%, supported mainly by external factors, while local consumption remained weak[40] - The property price index in Hong Kong decreased by 7.2% from December 2023 to December 2024, indicating a decline in the real estate market[40] Dividends and Shareholder Information - The company plans to propose a final dividend of 5.0 HK cents per share, totaling HKD 20,000,000 for the year ended December 31, 2024[27] - The proposed final dividend is HKD 0.005 per ordinary share, totaling HKD 20,000,000[75] - The company's shareholder register will be temporarily suspended from May 30, 2025, to June 4, 2025, for the upcoming annual general meeting[76] - The final dividend will be paid to shareholders listed on the register as of June 16, 2025, with the register suspended from June 12, 2025, to June 16, 2025[77] Future Outlook and Strategy - The company will focus on enhancing its loan portfolio and reducing exposure to high-risk areas in the uncertain environment[58] - The company has no significant capital expenditure commitments as of December 31, 2024[60] - The company has no major investments or acquisitions during the fiscal year 2024[65] - The company has no significant contingent liabilities as of December 31, 2024[67] Governance and Meetings - The chairman and president of the company is Wang Yao, with other executive and independent non-executive directors listed[80] - The annual performance announcement for the year ending December 31, 2024, will be published on the Hong Kong Stock Exchange and the company's website[78] - The annual general meeting will be held on June 4, 2025, with relevant documents to be published on the company's website[79]
环球信贷集团(01669) - 2024 - 年度业绩