Financial Performance - The total revenue for 2022 was HKD 108.3 million, a decrease of 39.0% from HKD 177.3 million in 2021[11]. - The company reported a loss of HKD 2,983.8 million for the year 2022, compared to a profit of HKD 312.4 million in 2021, indicating a significant decline in performance[181]. - The company's profit attributable to shareholders for the year was HKD (2,983.8) million, compared to HKD 262.4 million in the previous year[145]. - The company reported a total revenue and other income of HKD (585.7) million for the year, down from HKD 1,642.6 million in the previous year[145]. - The self-trading loss was HKD 1,275.1 million in 2022, a decrease of HKD 1,814.2 million or 336.5% from a self-trading profit of HKD 539.1 million in 2021[187]. Asset Management and Loans - In 2022, the total assets under management decreased by 26.3% to approximately HKD 24,177.8 million from HKD 32,823.1 million in 2021[16]. - The company faced a total of 13 clients with loan impairments, with the total outstanding principal owed by stage three borrowers amounting to HKD 1,084.7 million, representing approximately 44.9% of total loans[25]. - Total loans granted to the top five clients amounted to HKD 1.617 billion, representing 66.9% of the total loans granted during the year, with the largest single client receiving HKD 528 million, accounting for 21.8%[44]. - The total amount of margin loans decreased to HKD 1,696.8 million as of December 31, 2022, down from HKD 2,173.5 million in the previous year, representing a decline of approximately 21.9%[157]. - The average monthly balance of margin accounts fell to HKD 1,799.8 million in 2022, a decrease of 32.1% from HKD 2,649.5 million in 2021[157]. Impairment and Provisions - The company reported a significant increase in impairment provisions, totaling HKD 1,195.2 million, which accounted for 49.1% of total operating expenses[22]. - The group confirmed impairment provisions totaling HKD 1,645.4 million, an increase of HKD 1,195.2 million compared to the previous year, primarily due to market volatility and a downturn in the real estate sector[166]. Financing and Costs - The total financing costs increased by 109.5% to HKD 478.3 million from HKD 228.5 million in 2021[22]. - Financing costs increased by 109.3% due to rising average interest rates[165]. - The operating expenses and financing costs for the year amounted to HKD 2,433.6 million, an increase of 88.0% compared to HKD 1,294.7 million in 2021[190]. Liquidity and Borrowings - The liquidity position deteriorated, with net current assets decreasing by HKD 10,202.9 million to HKD 600.1 million, resulting in a current ratio of approximately 1.0 times[26]. - As of December 31, 2022, the total borrowings of the group amounted to HKD 18,315.7 million, a decrease from HKD 22,110.6 million as of December 31, 2021[78]. - The group’s total borrowings included bank and other borrowings, repurchase agreements, and issued debt securities[78]. Market and Client Focus - The company focused on key national areas such as the Yangtze River Delta and the Greater Bay Area to enhance business layout and actively respond to market impacts[146]. - The group has actively adjusted its client structure and enhanced internal resource collaboration, particularly in expanding local clients in Hong Kong[155]. - The company aims to provide comprehensive financial services to high-growth enterprises in strategic emerging industries, including artificial intelligence and biotechnology[186]. Awards and Recognition - The company received several awards in 2022, including "Best PE Institution of the Year" and "Best Financial Services Award in the Guangdong-Hong Kong-Macao Greater Bay Area" among others[36]. Strategic Goals and Development - The company aims to enhance its professional capabilities and improve service quality to create value for shareholders and investors in 2023[36]. - The company aims to build a comprehensive financial service institution with global influence and regional market competitiveness as a long-term strategic development goal[142]. - The group is committed to creating value for shareholders and investors through its financial services in the real economy[87]. Risk Management - The company has adopted structural adjustments to strengthen risk management in response to rising credit risks and market volatility[40]. - The group is committed to strengthening comprehensive risk management and internal control compliance to improve operational quality[166]. - The company has established a series of credit policies and procedures to mitigate credit risk and ensure ongoing monitoring[81]. Digital Transformation - The group is focused on digital empowerment and improving risk management capabilities to drive high-quality development[87]. - The group continues to focus on digital transformation and risk management capabilities to navigate market challenges[153].
交银国际(03329) - 2022 - 年度财报