Financial Performance - The group recorded a net profit of approximately HKD 82.7 million for the year ended December 31, 2021, a significant increase from HKD 5 million in the same period of 2020 [23]. - Total revenue for the year 2021 was HKD 25,862,000, compared to HKD 23,372,000 in 2020, reflecting a growth of approximately 10.7% [19]. - The group reported a net profit of HKD 80,777,000 for the year ended December 31, 2021, compared to a profit of HKD 4,264,000 in the previous year, representing a significant increase of 1,795% [193]. - Gross profit for 2021 was HKD 24,309,000, up from HKD 21,686,000 in 2020, reflecting a gross margin improvement [188]. - Profit before tax surged to HKD 98,027,000 in 2021, compared to HKD 5,820,000 in the previous year, indicating a significant increase in profitability [188]. - Basic and diluted earnings per share for 2021 were HKD 58.04, compared to HKD 3.06 in 2020, showcasing strong earnings growth [188]. - The company reported a significant increase in other income, which rose to HKD 90,698,000 in 2021 from HKD 2,756,000 in 2020 [188]. Assets and Liabilities - The group’s total assets rose to HKD 492,286,000 in 2021, up from HKD 416,137,000 in 2020, representing an increase of about 18.3% [20]. - The group’s equity attributable to owners increased to HKD 353,048,000 in 2021, compared to HKD 263,849,000 in 2020, reflecting a growth of approximately 33.8% [20]. - The total debt amounted to approximately HKD 19,900,000 as of December 31, 2021, down from HKD 29,200,000 in 2020 [53]. - The asset-to-liability ratio was 5.2% as of December 31, 2021, down from 9.7% in 2020 [55]. - Current liabilities decreased to HKD 112,158,000 in 2021 from HKD 128,285,000 in 2020, indicating improved liquidity [189]. - The company maintained a strong cash position with bank balances and cash totaling HKD 123,471,000 as of December 31, 2021 [189]. Revenue Sources - The brokerage service revenue increased to HKD 3,767,000 in 2021 from HKD 2,463,000 in 2020, marking a growth of approximately 53% [35]. - The interest income from loans granted to corporate and individual clients was approximately HKD 6,300,000, accounting for 24.3% of the group's total revenue, down from 44.4% in 2020 [41]. - The company’s interest income decreased to HKD 18,000 in 2021 from HKD 81,000 in 2020, a drop of 78% [197]. Community Engagement and Corporate Social Responsibility - In response to COVID-19, the group distributed KN95 masks to clients and the public, improving its public image [11]. - The company was awarded the "Caring Company" logo by the Hong Kong Council of Social Service for its community and environmental care efforts [11]. - The group participated in various charitable activities, including the "Million Steps" virtual walking event to promote health and raise funds [12]. - Koala Financial Group served as a major sponsor for the "Cookie Sale Campaign" to support elderly care facilities in Hong Kong [13]. - The company reported a charity donation of HKD 480,000 for the year ended December 31, 2021, compared to HKD 450,000 in 2020, representing an increase of approximately 6.67% [123]. Governance and Compliance - The board of directors consists of 5 members, including 2 executive directors and 3 independent non-executive directors [79]. - The company has adopted a code of conduct for securities trading by directors, which complies with GEM Listing Rules [78]. - The company has maintained compliance with the GEM Listing Rules Corporate Governance Code, except for one provision regarding attendance at the annual general meeting [76]. - The independent non-executive directors possess relevant accounting and financial management expertise, ensuring compliance with GEM Listing Rules [87]. - The company has implemented a continuous professional development program for all directors to enhance their knowledge and skills [88]. Risk Management - The group will continue to monitor credit risks and adopt a prudent approach in assessing each loan due to the ongoing economic challenges posed by COVID-19 [27]. - The overall industry outlook remains challenging, but the group is committed to strict risk control and prudent investment strategies to enhance shareholder returns [29]. - The company has established a risk management and internal control system, which was reviewed and deemed effective during the reporting period [104]. Investment and Future Plans - The group aims to allocate resources towards asset management, which is expected to provide stable and diversified income in the long term [29]. - The group plans to enhance its brokerage and margin financing services, which are expected to become a major growth driver, contributing approximately 74.1% of total revenue in 2021 [35]. - The group is actively seeking suitable commercial properties in Hong Kong to expand its investment property portfolio [46].
树熊金融集团(08226) - 2021 - 年度财报