Company Overview - The company is listed on the GEM of the Hong Kong Stock Exchange under stock code 8226, focusing on providing comprehensive financial services including securities brokerage, underwriting, asset management, lending, and property investment[11]. - The company has established a strong reputation in the financial industry, positioning itself as a leading comprehensive financial group in Hong Kong[11]. - The company is an investment holding company, with details of its subsidiaries' main businesses included in the consolidated financial statements[200]. Financial Performance - The group's revenue for the year was approximately HKD 30,600,000, representing an increase of about 30.2% compared to HKD 23,500,000 in 2022[16]. - The net profit for the year was approximately HKD 9,200,000, a significant improvement from a net loss of HKD 57,900,000 in 2022[21]. - The total revenue for the year increased to approximately HKD 30,600,000, a growth of about 30.2% compared to HKD 23,500,000 in 2022[51]. - The company reported a net profit of approximately HKD 9,200,000 for the year, a significant recovery from a net loss of HKD 57,900,000 in the previous year[53]. - The group's total assets decreased slightly to HKD 474,004,000 in 2023 from HKD 478,246,000 in 2022[18]. - The total liabilities decreased to HKD 77,822,000 in 2023 from HKD 91,241,000 in 2022[18]. - The interest income from the margin financing business increased significantly, contributing to the overall profit growth[24]. - The brokerage service revenue for 2023 was HKD 1,061,000, down from HKD 2,658,000 in 2022[34]. - The margin financing revenue increased to HKD 18,534,000 in 2023 from HKD 9,958,000 in 2022[34]. - The company recorded loan interest income of approximately HKD 7,400,000 for the year, representing 24.3% of total revenue, an increase from 16.6% in the previous year[43]. - The company has made a provision for impairment losses of approximately HKD 4,400,000, compared to HKD 2,700,000 in the previous year, reflecting a more cautious approach to credit risk management[43]. - The company's cash and bank balances were approximately HKD 105,400,000, a decrease from HKD 161,200,000 in 2022[54]. - The company's debt-to-equity ratio was 1.4% as of December 31, 2023, down from 2.6% in the previous year, indicating improved financial stability[55]. Governance and Management - The board of directors consists of six members, including two executive directors and four independent non-executive directors, ensuring a diverse governance structure[3]. - The company emphasizes the importance of accurate and complete information disclosure in compliance with GEM listing rules, confirming that all statements are free from misleading elements[3]. - The board is committed to high standards of corporate governance, enhancing management efficiency and protecting shareholder interests[83]. - The company has adopted a code of conduct for directors' securities transactions, adhering to GEM listing rules[85]. - The independent non-executive directors possess relevant financial management expertise, ensuring proper oversight[93]. - The company has maintained a board diversity policy, achieving a gender ratio of 1:1 between male and female directors[102]. - The board reviews its practices annually and makes necessary adjustments to improve governance[84]. - The company has established mechanisms for independent directors to express their opinions openly and confidentially[94]. - The company has purchased appropriate liability insurance for directors to provide protection during legal proceedings[90]. - The company emphasizes continuous professional development for all directors to ensure informed contributions[97]. - The company has no CEO role; responsibilities are undertaken by board members[97]. Corporate Social Responsibility - The company is committed to corporate social responsibility, recently participating in the "2022/2023 Annual Million Walk" organized by the Hong Kong Community Chest[13]. - The company aims to attract new customers and ensure stable business flow through various advertising and public relations activities[13]. - The company has collaborated with local artists to support community engagement and enhance brand image, exemplified by the partnership with artist He Boxin for the illustration "Koala Trader"[14]. - The company emphasizes effective communication with shareholders to strengthen investor relations[124]. - The environmental, social, and governance (ESG) report outlines the company's commitment to sustainable development and risk management integration[127]. - Stakeholder engagement is considered essential for business development and sustainable practices[134]. - The company believes that a thriving work environment and community development contribute to sustained business growth[198]. Environmental Impact - Total greenhouse gas emissions for the reporting period were approximately 43.8 tons, with a per-employee emission of 2.19 tons[144]. - Gasoline consumption accounted for 29.90 tons of direct emissions, while electricity consumption contributed 10.69 tons of indirect emissions[144]. - The company implemented measures to reduce energy consumption, including turning off air conditioning at night and using LED lighting[144]. - The total amount of paper used per employee decreased from 0.21 tons to 0.16 tons[144]. - The group has set a target to reduce greenhouse gas emissions by 10% by the end of 2030 through measures to decrease gasoline consumption[161]. - The group aims to reduce paper and packaging usage by 30% by the end of 2030 through various automation processes[161]. - The group has implemented a "paperless system" concept by promoting electronic communications and workflows[154]. - The company has established environmental policies and procedures to manage resource usage effectively[153]. - The company has not produced any hazardous waste during its business activities[152]. - The group has adopted various environmental measures to minimize its operational impact, including energy conservation and waste management[158]. Employee and Labor Practices - Employee costs, including director remuneration and retirement benefits, amounted to approximately HKD 5,300,000 as of December 31, 2023, compared to HKD 5,200,000 in 2022[72]. - The group has increased its workforce to approximately 20 employees as of December 31, 2023, up from 17 in 2022[72]. - The employee turnover rate for the reporting period was zero, with a total of 20 employees at the end of the period, an increase from 17 employees in 2022[167]. - 100% of senior management and 100% of management and other employees received training in 2023, compared to 43% in 2022 for the latter group[175]. - Average training hours for male employees increased from 7.5 hours in 2022 to 10.3 hours in 2023, while female employees saw an increase from 6.6 hours to 14.7 hours[175]. - The company adheres to labor laws prohibiting child and forced labor, with no violations reported during the reporting period[177]. - The company maintains compliance with all relevant employment and labor regulations in Hong Kong during the reporting period[166]. Risk Management - The board is responsible for the risk management and internal control systems, which have been reviewed and deemed effective[112]. - The internal audit department evaluates the risk management and internal control systems through interviews and operational effectiveness tests[112]. - The group has implemented internal control measures for its lending business, including credit risk assessment and monitoring of loan portfolios[64][65]. - The group has a structured loan approval process, with senior management reviewing and approving loan applications based on creditworthiness[68]. - The company maintains a comprehensive risk management process that includes risk identification, assessment, valuation, and handling[112]. Compliance and Ethics - The company has established an anti-corruption policy to ensure compliance with anti-corruption laws across all employees and directors[187]. - No incidents of bribery, extortion, fraud, or money laundering were reported during the business operations in the reporting period[192]. - The company maintains strict compliance with product/service liability laws and regulations in Hong Kong[181]. - Customer assets are safeguarded in independent accounts, with strict adherence to regulatory measures for handling and protecting these assets[182].
树熊金融集团(08226) - 2023 - 年度业绩