Loan Receivables and Interest Income - As of December 31, 2021, the net value of loans receivable related to the lending business was approximately HKD 432.4 million, a decrease from approximately HKD 480.2 million in 2020[7]. - The total interest income from loans for the year ended December 31, 2021, was approximately HKD 101.7 million, down from approximately HKD 132.9 million in 2020[11]. - The largest customer accounted for approximately HKD 312.3 million, representing 72.2% of the receivables, an increase from 34.9% in 2020[7]. - The interest rates for loans ranged from 8% to 18% per annum, consistent with the previous year[6]. Impairment and Other Receivables - The company recognized a significant impairment loss of approximately HKD 330 million for the year ended December 31, 2021, compared to an impairment loss of approximately HKD 1.5 million in 2020[12]. - The company’s other receivables had a net value of approximately HKD 1,513.9 million as of December 31, 2021, up from approximately HKD 891.4 million in 2020[8]. Lending Business and Policies - The lending business primarily targets individual clients with net worth or collateral of approximately HKD 5 million or above, and corporate loans ranging from approximately HKD 1 million to HKD 400 million[3]. - The company has established internal controls for credit approval and monitoring of loan recoverability, involving assessments by experienced credit managers[13]. - The company’s lending policy includes a credit verification process that evaluates the creditworthiness and financial status of potential borrowers[5]. - The company has implemented adjustments to loan sizes, terms, and interest rates based on specific borrower factors, including their financial strength and background[14]. - Continuous monitoring of receivable loans' recoverability is conducted, considering past repayment records and economic environment changes[14]. - As of December 31, 2021, the company complied with relevant regulations under Chapter 14 and Chapter 14A of the Listing Rules when granting loans[15]. Acquisition Plans - The company is in the process of acquiring a 51% stake in a subsidiary of Baoshin Land Group, which includes property development projects in Guangdong Province, China[12].
中泽丰(01282) - 2022 Q3 - 季度财报