Financial Performance - The pre-tax profit for 2023 was HKD 73,157,762, a significant recovery from a loss of HKD 305,283,511 in 2022[8] - The company reported a basic earnings per share of HKD 13.64 for 2023, recovering from a loss of HKD 74.35 per share in 2022[8] - The net profit for 2023 was HKD 54,564,283, a turnaround from a loss of HKD 297,402,416 in 2022[44] - The total comprehensive income for 2023 amounted to HKD 129,064,496, compared to a loss of HKD 392,320,270 in 2022[44] - Total revenue for 2023 reached HKD 543,354,617, a significant increase from HKD 258,004,188 in 2022, representing a growth of approximately 110.5%[43] Revenue Breakdown - Commission and fee income decreased to HKD 166,897,751 in 2023 from HKD 223,210,519 in 2022, a decline of about 25.2%[43] - Interest income surged to HKD 121,850,597 in 2023, compared to HKD 49,393,205 in 2022, marking an increase of approximately 146.3%[43] - The total amount raised in the primary market for Hong Kong equity fundraising was HKD 150.7 billion, a significant decrease of 40.70% year-on-year[137] - The average daily trading volume in the secondary market for Hong Kong stocks was HKD 105 billion, reflecting a year-on-year decline of 15.93%[137] Assets and Liabilities - The company's total assets increased to HKD 15,957,305,356 in 2023 from HKD 11,928,645,856 in 2022, reflecting a growth of approximately 33.4%[35] - Total liabilities rose to HKD 11,521,766,372 in 2023, up from HKD 6,397,295,638 in 2022, indicating an increase of about 80.5%[35] - The net asset value for 2023 was HKD 4,435,538,984, down from HKD 5,531,350,218 in 2022, a decrease of approximately 19.8%[35] - The group's total assets grew by 32.71% to HKD 16,552.02 million as of December 31, 2023, compared to HKD 12,472.18 million in the previous year[177] - The group's total liabilities increased by 46.60% to HKD 12,428.08 million as of December 31, 2023, up from HKD 8,477.30 million in the previous year[177] Employee Costs - Employee costs increased to HKD 196,919,115 in 2023 from HKD 160,103,290 in 2022, reflecting a rise of approximately 23%[1] - As of December 31, 2023, the group employed 230 full-time employees, an increase from 193 employees in the previous year, with total compensation amounting to HKD 196.92 million, up from HKD 160.10 million[183] Impairment and Losses - The impairment loss on collateralized margin loans decreased dramatically to HKD 6,417,671 in 2023 from HKD 81,936,022 in 2022, indicating a reduction of about 92%[4] - The company reported a financial asset impairment loss of HKD 8,416,652 in 2023, a significant reduction from HKD 82,462,673 in 2022[43] - The group recorded a pre-tax loss of HKD 305,283,511 for the year, with significant losses in various segments including asset management and financial products[75] Taxation - The tax expense for 2023 was HKD 18,593,479, compared to a tax credit of HKD 7,881,095 in 2022, indicating a turnaround in tax position[8] - The company reported a current year Hong Kong profits tax of HKD 5,972,862, a substantial increase from HKD 19,354 in the previous year[23] - Deferred tax for the current year amounted to HKD 12,660,544, compared to a negative HKD 11,874,070 in the previous year, indicating a significant turnaround[23] Risk Management - The company aims to strictly control outstanding receivables and monitor credit risk to mitigate potential losses[12] - The group has established a comprehensive risk management structure involving the board, management, and risk management committees to oversee and guide risk management efforts[187] - The group has implemented strict liquidity management measures, including daily monitoring reports and liquidity stress tests, to ensure compliance with capital requirements[192] - The group has developed policies to monitor and control market risks associated with new transactions and business launches[193] Strategic Initiatives - The company plans to offset certain accounts receivable and payable when it has legal rights to do so, indicating a strategic approach to managing its financial position[18] - The group will continue to enhance its professional development and improve profitability through wealth management business transformation and optimizing customer and revenue structure[180] - The group aims to maintain growth in its debt financing business by focusing on high-quality project issuances and enhancing its underwriting ranking[180] - The group continues to focus on enhancing its asset management capabilities and expanding its product offerings[180] Dividends - The company did not recommend any final dividend for the year ended December 31, 2023, consistent with the previous year[104] - The group has not proposed any final dividends for the year ending December 31, 2023[200]
兴证国际(06058) - 2023 - 年度业绩