Financial Performance - The company's revenue from corporate financing and financial advisory services increased by 144.2% compared to 2024[13]. - The virtual asset brokerage business experienced a significant growth, becoming the main growth engine with a revenue increase of 588.6% compared to 2024[13]. - The company's revenue for the year ended December 31, 2025, was approximately HKD 209.44 million, an increase of about 179.4% compared to HKD 74.96 million for the year ended December 31, 2024[18]. - The net profit for the year ended December 31, 2025, was approximately HKD 59.11 million, a turnaround from a loss of approximately HKD 2.32 million for the year ended December 31, 2024, primarily due to increased revenue from major operating segments[19]. - Revenue from virtual asset trading and related services represented 47.0% and 19.1% of total revenue for the years ending December 31, 2025, and 2024, respectively[34]. - The total revenue for the group increased by 179.4% to approximately HKD 209.44 million for the year ending December 31, 2025, compared to HKD 74.96 million for the previous year[47]. Operational Highlights - The traditional brokerage and margin financing business showed stable growth, with an expanding customer base and improved service quality and trading efficiency[13]. - The company is focused on deepening its market presence in Hong Kong while connecting with mainland and global markets[12]. - The overall business and financial performance exceeded expectations amid a volatile global financial market[7]. - The average daily trading volume on the Hong Kong Stock Exchange was HKD 2,498.0 billion for the year ending December 31, 2025, a 90% increase from HKD 1,318.0 billion for the year ending December 31, 2024[38]. - The company has become the first licensed entity in Hong Kong to hold a license for virtual asset trading, consultation, and asset management services[33]. Cost and Expenses - Commission expenses increased by 500.3% to HKD 56.65 million for the year ended December 31, 2025, compared to HKD 9.44 million for the previous year[18]. - Employee costs rose by 42.0% to HKD 55.82 million for the year ended December 31, 2025, compared to HKD 39.30 million for the previous year[18]. - Other operating expenses increased by 204.4% to HKD 68.06 million for the year ended December 31, 2025, compared to HKD 22.36 million for the previous year[18]. Strategic Initiatives - The company aims to enhance digital services, risk management, and customer experience through increased technology investment[14]. - The company plans to embrace change with an open mindset and enhance competitiveness through solid execution[12]. - The company aims to develop a niche market in the lending sector to better meet investors' financing needs and provide tailored liquidity solutions for corporate and retail clients[29]. - The company is committed to becoming a comprehensive financial service provider, diversifying its revenue sources to mitigate risks associated with market volatility[39]. - The company is focused on business development and strategic planning, with key personnel responsible for overseeing these areas[87]. Governance and Compliance - The company is committed to maintaining compliance and risk management principles to ensure sustainable business growth[14]. - The company emphasizes strong corporate governance, with independent directors providing oversight and independent opinions to the board[104]. - The board consists of seven members, including three executive directors, one non-executive director, and three independent non-executive directors[108]. - The company has fully complied with the corporate governance code as per GEM Listing Rules for the year ending December 31, 2025[106]. - The company has established mechanisms to ensure that the board receives independent opinions and input, with all committees chaired by independent non-executive directors[113]. Risk Management - The risk management system is designed to manage financial and non-financial risks, including liquidity, credit, market, operational, regulatory, and legal risks[169]. - The board is responsible for establishing an effective risk management environment, including identifying, assessing, and managing risks[170]. - The company has a comprehensive governance framework to systematically identify, assess, manage, and monitor risks that could adversely affect its strategic and business objectives[168]. - The company is actively monitoring global and local regulatory changes to mitigate strategic risks and ensure business performance[172]. - Cybersecurity measures are being strengthened through the adoption of globally recognized standards and regular crisis response drills[173]. Human Resources - The group employed 96 full-time employees as of December 31, 2025, an increase from 65 employees as of December 31, 2024[81]. - The company emphasizes equal opportunities in its hiring practices, ensuring no discrimination based on race, gender, age, or other factors[158]. - The gender distribution in senior management is 60% male and 40% female, while the overall team (excluding senior management) has a distribution of 63% male and 37% female[162][163]. Technology and Innovation - The group launched the VictoryX app, the first licensed financial institution app in Hong Kong to offer both securities and virtual asset trading[45]. - The group has established its own R&D team to enhance its service offerings in the virtual asset space, aligning with its strategic goals[42]. - The company has implemented multiple key strategies to address the complexities associated with cryptocurrency reporting, including hiring qualified candidates and improving transaction tracking tools[178].
胜利证券(08540) - 2025 - 年度财报