Financial Performance - Total revenue for the year ended March 31, 2025, was HKD 432,098,000, an increase of 5.3% from HKD 410,015,000 in the previous year[3] - Profit before tax rose to HKD 102,358,000, a 18.5% increase compared to HKD 86,413,000 in the previous year[3] - Net profit for the year was HKD 76,032,000, slightly down by 1.4% from HKD 77,112,000[3] - Basic earnings per share increased to HKD 0.42, up from HKD 0.37 in the previous year[4] - The total revenue for 2025 was HKD 432,098,000, up from HKD 410,015,000 in 2024, representing a growth of approximately 5%[32] - The profit attributable to the company's owners for the year was approximately HKD 41.2 million, up from HKD 35.8 million in 2024[66] Revenue Breakdown - The brokerage segment generated revenue of HKD 128,223,000, while the financing segment contributed HKD 199,556,000, showing a slight decrease in the financing segment compared to HKD 204,969,000 in the previous year[24][25] - The property investment segment reported a revenue of HKD 40,047,000, significantly up from HKD 22,182,000 in the previous year, indicating an increase of approximately 80.6%[20][25] - Revenue from Hong Kong increased to HKD 403,466,000 in 2025 from HKD 398,254,000 in 2024, while revenue from the UK rose significantly from HKD 11,761,000 to HKD 28,632,000[32] Assets and Liabilities - Total assets as of March 31, 2025, were HKD 5,517,675,000, compared to HKD 5,449,218,000 in the previous year[5] - Non-current assets decreased to HKD 1,806,168,000 from HKD 1,782,522,000[5] - Current liabilities increased significantly to HKD 696,065,000 from HKD 285,692,000[6] - Total equity decreased to HKD 6,623,650,000 from HKD 6,941,948,000[6] - Total assets as of March 31, 2025, amounted to HKD 7,323,843,000, a slight increase from HKD 7,231,740,000 in 2024[27][28] - Total liabilities as of March 31, 2025, were HKD 700,193,000, compared to HKD 289,792,000 in 2024, indicating a significant increase[28] Impairment and Provisions - The company reported a net impairment loss provision of HKD 138,429,000 for accounts receivable in 2025[29] - The company reported a net loss of HKD 82,745,000 from other gains and losses in 2025, an improvement from a loss of HKD 109,879,000 in 2024[34] - The provision for expected credit losses increased by approximately HKD 138,429,000 during the year, compared to HKD 128,590,000 in the previous year[46] Credit Risk and Loans - The expected credit loss provision for margin receivables is approximately HKD 621,834,000 as of March 31, 2025, an increase from HKD 554,775,000 in 2024[45] - The total margin receivables as of March 31, 2025, amount to HKD 2,269,468,000, with a net carrying value of HKD 1,647,634,000 after provisions[44] - The provision for loan losses for the year was approximately HKD 30,867,000, significantly up from HKD 10,183,000 in the previous year, indicating a rise of 202.5%[55] - The aging analysis of receivable loans showed that overdue loans exceeding three months increased to HKD 92,614,000 in 2025 from HKD 41,798,000 in 2024[54] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.25 per share for 2025, down from HKD 0.50 per share in 2024, totaling approximately HKD 30,910,000 compared to HKD 48,314,000 in the previous year[38] - The company proposed a final dividend of HKD 0.025 per share for the fiscal year[64] Operational Insights - The company has introduced new disclosure requirements to enhance transparency regarding supplier financing arrangements and their impact on liabilities and cash flow risks[13] - The company maintains a cautious approach to credit control measures in its margin financing business to balance revenue and risk[73] - The management maintains a cautiously optimistic outlook for future business development and overall performance despite external challenges[83] Economic Context - The Hong Kong economy showed a real GDP growth of 2.5% in 2024, down from 3.2% in 2023, reflecting a slowdown in growth[68]
结好控股(00064) - 2025 - 年度业绩