Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 35,566,000, a decrease of 13.3% from HKD 40,957,000 in 2022[4] - Net loss for the year was HKD 20,638,000, significantly improved from a loss of HKD 123,092,000 in the previous year, representing a reduction of 83.2%[4] - Basic and diluted loss per share for the year was 1.45 HKD cents, down from 8.66 HKD cents in 2022[4] - The company reported a pre-tax loss of HKD 20,609,000 for 2023, compared to a pre-tax loss of HKD 43,905,000 in 2022[24] - The total tax expense for the year was HKD 7,000, compared to a tax credit of HKD 3,640,000 in the previous year[30] - The company did not declare a final dividend for the year ending December 31, 2023, consistent with the previous year[31] - The loss attributable to the company's owners for the year ended December 31, 2023, was approximately HKD 20,600,000, a significant reduction of about 83.2% from a loss of HKD 123,100,000 in 2022[53] Asset and Liability Management - Total current assets decreased to HKD 176,075,000 from HKD 203,620,000, a decline of 13.6%[6] - Total non-current assets increased to HKD 10,564,000 from HKD 4,164,000, an increase of 154.5%[6] - Total liabilities increased to HKD 128,000,000 from HKD 116,697,000, an increase of 9.3%[6] - The company's equity attributable to shareholders decreased to HKD 58,641,000 from HKD 79,277,000, a decline of 26.0%[8] - Cash and cash equivalents decreased to HKD 112,436,000 from HKD 124,139,000, a decrease of 9.0%[6] - The group's net current assets were approximately HKD 52,000,000 as of December 31, 2023, down from HKD 86,900,000 in 2022[70] - The group's debt, including acceptances and lease liabilities, was approximately HKD 103,200,000 as of December 31, 2023, down from HKD 110,400,000 in 2022[69] Revenue Breakdown - Client contract revenue decreased to HKD 34,392,000 in 2023 from HKD 39,529,000 in 2022, representing a decline of 12.8%[21] - Fund management service revenue dropped significantly to HKD 5,428,000 in 2023 from HKD 13,615,000 in 2022, a decrease of 60%[21] - External asset management advisory commission revenue increased to HKD 27,032,000 in 2023 from HKD 24,651,000 in 2022, an increase of 9.6%[21] - The total assets under external asset management increased to approximately HKD 4.1 billion as of December 31, 2023, up from HKD 3.8 billion in 2022, with external asset management service revenue rising by about 9.7% to HKD 27,000,000[58] - Fund management service revenue decreased by approximately 60.1% to HKD 5,400,000 in 2023 from HKD 13,600,000 in 2022, primarily due to tighter liquidity affecting the ability to pay management fees[60] - Institutional advisory service revenue increased by approximately 62.4% to HKD 1,900,000 in 2023 from HKD 1,200,000 in 2022, driven by increased demand for advisory services post-COVID-19[61] Impairment and Reversal - Financial assets impairment reversal amounted to HKD 20,609,000, compared to a loss of HKD 615,000 in 2022[4] - The company recognized an impairment loss of HKD 20,487,000 for property, plant, and equipment, with no impairment provision for the year ending December 31, 2023[33] - The company confirmed an impairment loss of HKD 23,418,000 for intangible assets, property, and equipment, reducing their carrying amount to a recoverable amount of HKD 1,055,000[37] - The group recognized a reversal of impairment losses on receivables amounting to approximately HKD 14,258,000 for the year ended December 31, 2023, compared to HKD 1,801,000 in 2022[47] - The company recorded a net reversal of impairment losses on financial assets of approximately HKD 20,600,000 for the year ended December 31, 2023, compared to HKD 600,000 in 2022[55] Employment and Costs - The total employee cost for the year ended December 31, 2023, was approximately HKD 22,800,000, down from HKD 23,500,000 in 2022[80] - The company employed 26 full-time employees as of December 31, 2023, down from 31 in 2022[80] - As of December 31, 2023, there were 34,220,000 unexercised stock options under the stock option plan, a decrease from 49,220,000 in 2022[82] Governance and Compliance - The audit committee reviewed the group's annual performance and confirmed compliance with relevant accounting standards and regulations for the year ended December 31, 2023[89] - The independent auditor's report for the year ended December 31, 2023, included a qualified opinion due to limitations in the audit scope regarding the fair value of certain investments[91] - The board of directors includes executive and independent non-executive members, ensuring governance and oversight[102] Market and Future Outlook - The company plans to continue exploring opportunities in emerging financial markets to further develop its financial services business[64] - The management remains optimistic about benefiting from the economic recovery in Hong Kong despite challenges and uncertainties in the financial services sector[63] Investment and Fair Value - The fair value of financial assets measured at fair value through profit or loss totaled HKD 23,850,000 for the year, down from HKD 30,366,000 in the previous year[39] - The fair value of the investment fund's assets decreased to approximately HKD 23,900,000 as of December 31, 2023, down from HKD 29,500,000 in 2022, accounting for about 12.8% of the group's total assets[66] - The fair value of the company's equity in the Metaverse bond as of December 31, 2023, is approximately HKD 11,443,000[96] - The company recognized an unrealized fair value loss of approximately HKD 5,793,000 related to the Metaverse bond and shares for the year ended December 31, 2023[96] - The fair value of the company's equity in the Conglomerate bond as of December 31, 2023, is approximately HKD 5,979,000, resulting in an unrealized gain of approximately HKD 682,000 for the year ended December 31, 2023[99] Miscellaneous - The company has not received sufficient financial information from the issuer of the Conglomerate bond since December 31, 2021, affecting the assessment of the bond's fair value[99] - The company's shares were suspended from trading on the stock exchange from April 1, 2022, and resumed trading on November 6, 2023[95] - The company has not published any financial information for the six months ending June 30, 2021, as of the report date[95] - The company plans to publish its annual report for 2023 on its website and the stock exchange's website in due course[101]
贝森金融(00888) - 2023 - 年度业绩