Financial Performance - Finsoft Financial Investment Holdings Limited reported a significant increase in revenue, achieving a total of HKD 150 million, representing a growth of 25% compared to the previous year[11]. - 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[26]. - 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[142]. - The Group recorded a net loss after tax of approximately HK$28,346,000, an increase of approximately 2.8% from HK$27,566,000 in 2022[144]. - Management has set a performance guidance of HKD 200 million in revenue for the upcoming fiscal year, reflecting a 33% increase[11]. User and Market Expansion - The company’s user base expanded to 200,000 active users, marking a 40% increase year-over-year[11]. - Finsoft plans to expand its market presence in Southeast Asia, targeting a 15% market share within the next two years[11]. - Future outlook indicates a projected revenue growth of 30% for the next fiscal year, driven by new product launches and market expansion strategies[11]. Research and Development - The company is investing HKD 20 million in research and development for new technologies aimed at enhancing user experience and operational efficiency[11]. - The Group established a research and development center in Shenzhen in Q1 2024 to enhance innovation and leverage top-tier talent[43]. - The Group aims to strengthen its research and customer support capabilities to develop new products that meet market trends and industry requirements[192][198]. Operational Efficiency - Operational efficiency improvements are expected to reduce costs by 10% over the next year, contributing to overall profitability[11]. - The Group intends to optimize and revamp operational efficiency while prudently exploring new business opportunities[35]. - The Group is focused on mitigating operational risks through effective monitoring and implementation of risk management policies[184][187]. Financial Position and Liquidity - As of December 31, 2023, the Group's cash and bank balances were approximately HK$9,214,000, a decrease from approximately HK$26,945,000 in 2022[150]. - The current ratio as of December 31, 2023, was approximately 1.9 times, down from 2.3 times in 2022, indicating a decrease in liquidity[150]. - Total borrowing as of December 31, 2023, was approximately HK$1,045,000, a decrease from approximately HK$1,380,000 in 2022, with a gearing ratio of approximately 0.02[151]. Credit and Loan Management - The company conducts credit assessments for potential clients, which include obtaining financial statements and conducting various searches, to minimize credit risks[60]. - Continuous monitoring of loan and interest payments is conducted, with monthly reports on repayment status submitted to the credit committee[68]. - The expected credit loss (ECL) model is used to assess the provision for impairment loss, considering factors such as probability of default and loss given default[73]. Strategic Initiatives - The board of directors has emphasized a commitment to sustainable growth and shareholder value enhancement through strategic initiatives[11]. - The Group plans to engage legal counsel for advice on loan recovery and potential enforcement actions[97]. - The Group aims to enhance its diversification and maintain a competitive edge through stringent financial plans[112]. Investment Activities - The portfolio of the Group's asset investments consists of securities held for trading, recorded as financial assets at fair value through profit or loss as of December 31, 2023[100]. - Total investments held as of December 31, 2023, amounted to HK$9,789,000, with a realized gain of HK$1,745,000 and an unrealized loss of HK$3,300,000[101]. - The Group will continue to adopt a conservative investment approach in trading listed securities in the Hong Kong stock market[114]. Employee and Operational Changes - 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[181][185]. - The Group did not conduct any fundraising activities through issuing new shares during the Year[156]. Economic Outlook - The improving economic conditions in Hong Kong are expected to support domestic demand, although high global interest rates may impose constraints[34]. - The Hong Kong economy is expected to return to positive growth, supported by the relaxation of quarantine controls and initiatives to boost domestic consumption[191][196].
汇财金融投资(08018) - 2023 - 年度财报