Financial Performance - The company reported total revenue of HKD 58,874,000 for the year ended December 31, 2022, compared to HKD 36,954,000 in the previous year, representing a 59% increase[92]. - The group’s total revenue from external customers was HKD 58,874,000, with no inter-segment revenue reported[127]. - The company reported a net loss attributable to shareholders of approximately HKD 11,000,000 for the review year, a decrease from a net loss of approximately HKD 33,700,000 in the previous fiscal year[52]. - The company incurred a net loss of HKD 14,579,000 for the year, an improvement from a net loss of HKD 36,243,000 in the prior year[95]. - The company reported a loss attributable to owners of the company of HKD 10,972,000 for the year ended December 31, 2022, compared to a loss of HKD 33,699,000 in the previous year, representing a 67.4% improvement[99]. - The group reported a consolidated pre-tax loss of HKD 10,853,000 for the period[126]. - The company reported a basic and diluted loss per share of HKD 1 for 2022, improving from a loss of HKD 4 per share in 2021[99]. - The company’s basic loss per share improved to HKD 0.0132 in 2022 from HKD 0.0406 in 2021, reflecting a decrease in loss per share of approximately 67.5%[170]. Loan and Receivables - The total receivables from loans increased to HKD 174,625,000 in 2022 from HKD 127,835,000 in 2021, reflecting a growth of approximately 36.5%[8]. - The company provided loans ranging from HKD 2,500,000 to HKD 75,000,000 in 2022, compared to HKD 10,000,000 to HKD 42,000,000 in 2021, indicating an expansion in lending capacity[8]. - The company reported that the largest single loan and the top five loans accounted for approximately 43% and 79% of total receivables, respectively, compared to 21% and 83% in 2021[9]. - As of December 31, 2022, overdue loans exceeding one month but not exceeding three months amounted to HKD 5,037,000, with overdue loans exceeding six months but not exceeding one year totaling HKD 17,694,000[11]. - The provision for expected credit losses as of December 31, 2022, was HKD 22,731,000, up from HKD 3,994,000 in the previous year, reflecting a significant increase of approximately 469.5%[20]. - The outstanding margin loans from the securities brokerage business amounted to approximately HKD 476,900,000, with a provision for expected credit losses of about HKD 6,900,000[44]. - The company’s interest income from receivable loans increased to HKD 15,785,000, up 33% from HKD 11,825,000 in the previous year[92]. Investments and Acquisitions - The company completed the acquisition of 51% of Supreme China Securities Limited for a cash consideration of HKD 21,594,000, which is expected to expand its business scope and reduce operational costs[27]. - Since the acquisition, Supreme China contributed HKD 3,007,000 to the company's revenue and accounted for a loss of HKD 2,507,000 for the year ended December 31, 2022[27]. - The company acquired a 30% stake in Hope Capital Limited and its wholly-owned subsidiary for HKD 48,000,000, aiming to enhance operational synergies in the financial services sector[197]. - The company completed the sale of 6.28% of its subsidiary, Imagi Fin Group Limited, for HKD 55,000,000, reducing its ownership from 100% to approximately 93.72%[80]. - The company recognized a loss of approximately HKD 6,858,000 from the sale of an associate during the review period[88]. Financial Position - As of December 31, 2022, total risk for loans was HKD 174,625,000, an increase from HKD 127,835,000 as of December 31, 2021, representing a growth of approximately 36.5%[20]. - The company’s total liabilities decreased to HKD 755,150,000 in 2022 from HKD 768,846,000 in 2021, showing a reduction of 1.2%[103]. - The company’s non-current assets totaled HKD 184,003,000 in 2022, an increase from HKD 134,122,000 in 2021, indicating a growth of 37.2%[102]. - Current assets increased significantly to HKD 785,109,000 in 2022 from HKD 157,659,000 in 2021, marking a substantial rise of 396.5%[103]. - The total equity attributable to the group as of December 31, 2022, was HKD 169,121,000[193]. - The company’s cash and cash equivalents, including bank balances, amounted to HKD 785,109,000 in 2022, a significant increase from HKD 782,324,000 in 2021, indicating improved liquidity[103]. Operational Highlights - The company is focusing on its core business of integrated financial services, which includes securities brokerage and related financial advisory services, asset management, and margin financing[41]. - The brokerage and related financial services generated total revenue of approximately HKD 49,200,000 during the review year[44]. - The company believes that brokerage commissions, underwriting fees, and asset management fees will continue to significantly contribute to its operations and profitability[42]. - The company is currently evaluating the potential impacts of new accounting standards that have been announced but are not yet effective[38]. - The company plans to maintain minimal resources in the computer imaging business until there is a substantial improvement in its potential and outlook[51]. Employee and Administrative Costs - The group employed 28 staff members as of December 31, 2022, compared to 21 in 2021, with total employee costs amounting to approximately HKD 15 million, up from HKD 13 million in 2021[78]. - The company’s administrative expenses were HKD 35,510,000, slightly reduced from HKD 38,176,000 in the previous year[95]. - Total employee costs increased to HKD 15,239,000 in 2022, up from HKD 13,123,000 in 2021, reflecting a rise of about 16.1%[164]. Market Outlook - The company expects significant improvement in the overall business environment in Hong Kong and China in 2023, driven by the easing of COVID-19 restrictions and regulatory relaxations[60]. - The brokerage and related services business is anticipated to continue improving in 2023, contributing significantly to the group's operations and profits[61].
元汇集团(00585) - 2022 - 年度业绩