Financial Performance - Finsoft Financial Investment Holdings Limited announced its annual results for the year ending December 31, 2023[2]. - The company reported a total revenue of HKD 150 million, representing a 15% increase compared to the previous year[2]. - The Group recorded revenue of approximately HK$52,326,000 for the year ended December 31, 2023, a decrease of approximately 14.0% compared to HK$60,823,000 in the previous year[31]. - Gross profit decreased to approximately HK$31,146,000, down approximately 24.0% from HK$40,978,000 in 2022, with a gross profit margin of 59.5% compared to 67.4% in the previous year[147]. - The Group recorded a net loss after tax of approximately HK$28,346,000 for the Year, an increase of approximately 2.8% from HK$27,566,000 in 2022[149]. - The basic and diluted loss per share for the year was approximately HK16.58 cents, compared to approximately HK15.97 cents in 2022[31]. User Growth and Market Expansion - User data showed an increase in active users by 20%, reaching a total of 500,000 users by year-end[2]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 25% increase in market share in the region[2]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 20%[2]. Research and Development - New product development initiatives are underway, focusing on enhancing digital financial services and expanding the product line[2]. - The company plans to invest approximately HKD 30 million in research and development for new technologies in the upcoming year[2]. - The Group established a research and development center in Shenzhen in the first quarter of 2024 to enhance innovation and product development capabilities[48]. Operational Efficiency - Finsoft aims to improve operational efficiency by 15% through process optimization and technology integration[2]. - The Group aims to optimize operational efficiency and explore new business opportunities moving forward[40]. - The Group intends to optimize operational efficiency while prudently exploring new business opportunities[199]. Credit Risk Management - The Group will continue to strengthen its credit control strategy and loan management policies to mitigate credit risks and improve debt collection[33]. - The provision for impairment loss on loan and interest receivables increased to approximately HK$7,057,000 in 2023, up from approximately HK$749,000 in 2022, indicating a rise of approximately HK$6,308,000[55]. - The Group's credit risk assessment includes monitoring external market indicators and any significant adverse changes in the borrower's environment[82]. Investment Performance - The Group recorded a fair value gain of approximately HK$1,965,000 from securities investments, compared to a fair value loss of approximately HK$6,756,000 in the previous year[34]. - The realized gain from investments was HK$1,745,000, while the unrealized gain was HK$9,789,000 as of December 31, 2023[106]. - The Group's investment in Square Box resulted in a loss of approximately HK$276,000 for the year, compared to a loss of approximately HK$361,000 in the previous year[125]. Economic Outlook - The Hong Kong government's initiatives, such as the "Night Vibes Hong Kong" campaign, are expected to support tourism and private consumption, aiding economic recovery[39]. - The Hong Kong economy is expected to return to positive growth, supported by the relaxation of quarantine controls and initiatives to boost domestic consumption, although global economic conditions remain a key uncertainty[196]. Employee and Administrative Expenses - As of December 31, 2023, the Group had 69 employees, a decrease from 74 in 2022, with total employee benefits expense approximately HK$42,936,000, down from HK$47,589,000 in 2022[186][190]. - Administrative expenses decreased to approximately HK$51,787,000, down approximately 11.8% from HK$58,743,000 in 2022, primarily due to reduced staff and marketing costs[148]. Compliance and Governance - The company has implemented measures to ensure compliance with relevant laws and regulations, including those related to credit risk and client due diligence[69]. - The Group emphasizes ethical values and has established a whistleblower program to mitigate operational risks effectively[189][192].
汇财金融投资(08018) - 2023 - 年度业绩