Financial Performance - For the fiscal year ending December 31, 2025, the company reported total revenue of HKD 21,352,287, a decrease of 47.8% compared to HKD 40,913,965 in 2024[2] - The gross profit for the same period was HKD 816,022, down 21% from HKD 1,032,514 in 2024[2] - The operating profit increased to HKD 754,287, a significant rise from HKD 410,311 in the previous year, reflecting a growth of 83.6%[2] - Net profit for the year was HKD 822,623, which is a 121.5% increase compared to HKD 371,921 in 2024[2] - Earnings per share (EPS) for the year was HKD 5.18, up from HKD 2.20 in 2024, representing a 135.5% increase[3] - The company's net profit for the year ended December 31, 2025, was approximately HKD 822,623,000, compared to HKD 371,921,000 for the year ending December 31, 2024, representing a significant increase[43] - The company's net profit increased from approximately HKD 371,921,000 to approximately HKD 822,623,000, representing a significant growth due to stable development in distribution, trading, processing, and financial services segments[52] Assets and Liabilities - The company's total assets increased to HKD 19,805,280, compared to HKD 16,286,472 in 2024, marking a growth of 21.5%[4] - Current liabilities rose to HKD 14,214,409 from HKD 11,725,820, indicating an increase of 21.3%[4] - The company's net asset value reached HKD 8,401,083, up from HKD 7,236,287 in 2024, reflecting a growth of 16.1%[5] - Total assets as of December 31, 2025, amounted to HKD 22,631,388,000, with distribution and trading segment assets at HKD 11,978,443,000 and financial services segment assets at HKD 7,663,760,000[18] - Total liabilities as of December 31, 2025, were HKD 14,230,305,000, with distribution and trading segment liabilities at HKD 6,710,520,000 and financial services segment liabilities at HKD 5,662,040,000[18] Revenue Breakdown - Revenue from commodity trading and processing sales was HKD 20,516,007, down 48.8% from HKD 40,036,179 in the previous year[10] - Commission income and brokerage fees from financial services increased to HKD 289,402, up 14.5% from HKD 252,719 in the previous year[10] - The segment profit for commodity trading and processing was HKD 490,531, while the financial services segment profit was HKD 248,047, leading to a total segment profit of HKD 738,578[15] - The group’s customer contract revenue for 2025 was HKD 20,794,146, with significant contributions from the Chinese market at HKD 11,105,685[13] - Revenue from Singapore for the year ended December 31, 2025, was HKD 9,983,365,000, a significant decrease from HKD 24,212,330,000 in 2024[21] Operational Issues - The group reported a loss of HKD 167,462,000 for the year ended December 31, 2024, due to misappropriation issues in its Singapore subsidiary[24] - The group has engaged legal professionals to investigate the misappropriation and has reported the matter to the Singapore police[24] - The group has ceased all operations of the Singapore subsidiary since the discovery of the misappropriation[24] - The board believes that the misappropriation issues have been controlled and did not involve other personnel or senior management[26] - The independent auditor, RSM Hong Kong, issued a qualified opinion on the consolidated financial statements for the year ending December 31, 2024, due to insufficient audit evidence related to a Singapore subsidiary[100] Future Plans and Developments - The company plans to adopt new accounting standards effective from January 1, 2026, but expects no significant impact on financial performance[8] - The company plans to focus on the continuous development of its financial services and distribution, trading, and processing businesses through 2026[53] - The company is actively seeking acquisition opportunities in markets such as China, Indonesia, Australia, and Malaysia to expand its business footprint and enhance its resource portfolio[59] - The company plans to allocate approximately 10% to 20% of the raised funds for business expansion in Indonesia through acquisitions or joint ventures[63] Shareholder Information - The company did not declare any interim or final dividends for the years ended December 31, 2025, and December 31, 2024[33] - The board did not recommend the payment of dividends for the year ending December 31, 2025, consistent with 2024[93] - The company changed its name from "Theme International Holdings Limited" to "Deep Source Holdings Limited" to better reflect its future business development[60] Employee and Staffing - The company had a total of 378 employees as of December 31, 2025, across Hong Kong, Singapore, China, and the UK[45] - The group employed a total of 378 staff as of December 31, 2025, a decrease from 399 in 2024[91] Miscellaneous - The company has no significant contingent liabilities as of December 31, 2025[73] - The company has no major acquisitions or disposals to disclose for the year ended December 31, 2025[74] - The company has approximately HKD 725.5 million in restricted deposits used as collateral for bank financing as of December 31, 2025[72] - The company emphasizes that the alleged misappropriation will not significantly impact its cash flow, financial condition, or business operations[69]
至源控股(00990) - 2025 - 年度业绩