Financial Performance - The group recorded revenue of approximately HKD 74.1 million for the year ended December 31, 2023, compared to HKD 73.0 million in 2022, representing a year-over-year increase of 1.5%[2] - The loss attributable to owners of the company was approximately HKD 104.1 million for the year ended December 31, 2023, a significant improvement from a loss of HKD 171.3 million in 2022, indicating a reduction in losses by 39.2%[2] - The group’s gross profit for the year was HKD 69.7 million, an increase from HKD 67.9 million in 2022, showing a growth of 2.5%[5] - The total administrative expenses for the year were HKD 130.8 million, a decrease from HKD 181.9 million in 2022, indicating a reduction of 28.2%[5] - The group reported a pre-tax loss of HKD 107.1 million for the year, improved from a pre-tax loss of HKD 171.3 million in 2022, marking a 37.5% reduction in losses[5] - The total loss before tax for 2023 was HKD 104,059,000, compared to a loss of HKD 171,280,000 in 2022, indicating an improvement[51] - The group reported a net loss of HKD 172,957,000 across all categories for the year ended December 31, 2023[15] - Total comprehensive income for the year was a loss of HKD 104,061,000, compared to a loss of HKD 170,023,000 in the previous year, representing a 38.8% improvement[180] - Basic loss per share for the year was HKD 3.82, compared to HKD 6.15 in the previous year, indicating a 38.5% reduction in loss per share[180] Assets and Liabilities - The group held financial assets at fair value through profit or loss amounting to approximately HKD 482.3 million as of December 31, 2023, compared to HKD 481.9 million in 2022[2] - The group’s total assets included cash and bank balances of approximately HKD 188.0 million and receivables of HKD 446.3 million as of December 31, 2023[2] - The total assets of the group decreased from HKD 1,472,917,000 in 2022 to HKD 1,325,798,000 in 2023, a decline of approximately 10%[20] - The group’s total liabilities decreased from HKD 53,849,000 in 2022 to HKD 49,159,000 in 2023, a decrease of about 8.3%[20] - The total liabilities for the financial services segment decreased from HKD 17,718,000 in 2022 to HKD 15,580,000 in 2023, a reduction of about 12.1%[20] - The group’s cash position remained strong, with bank balances and cash totaling approximately HKD 188.0 million as of December 31, 2023, down from HKD 220.1 million in 2022[95] - The net current assets amounted to approximately HKD 1,081.6 million, down from HKD 1,274.1 million in 2022[154] - The current ratio was reported at 23.00 times, a decrease from 24.82 times in 2022, indicating a slight decline in liquidity[2] Revenue Segments - Total revenue from external customers for the financial services segment was HKD 14,731,000, with lending contributing HKD 57,164,000, and asset investment generating HKD 1,083,000, totaling HKD 72,978,000[15] - Revenue from financial services increased by HKD 3.3 million, reaching approximately HKD 18.0 million for the year[100] - The financial services segment generated revenue of approximately HKD 18.0 million in the current year, an increase of about 22% from HKD 14.7 million in 2022[105] - The group's lending classification generated revenue of approximately HKD 55.1 million in the current year, accounting for about 74% of total revenue, with operating profit increasing by approximately 806% to HKD 14.5 million[118] Interest Income and Expenses - Interest income from lending was HKD 55.1 million in 2023, down from HKD 57.2 million in 2022, reflecting a decrease of 3.7%[9] - Interest income for the group was HKD 72,801,000, with HKD 17,720,000 from financial services and HKD 55,076,000 from lending[26] - The company reported interest income of HKD 69,997,000 for the year 2023, a significant increase from HKD 5,000 in 2022[39] - The company’s financing costs increased to HKD 934,000 in 2023 from HKD 577,000 in 2022, primarily due to higher interest on bank borrowings[44] Impairment and Provisions - The company incurred impairment losses of HKD 24,114,000 on loans and interest for 2023, down from HKD 28,255,000 in 2022[39] - The impairment provision increased to HKD 81,665,000 in 2023 from HKD 57,551,000 in 2022, reflecting a rise of 41.9%[62] - The impairment loss on receivables and interest was approximately HKD 24.1 million, a decrease from HKD 28.3 million in the previous year[120] - The expected credit loss provision for the total receivables and interest was HKD 81.665 million, resulting in a net receivable amount of HKD 446.266 million[125] Investment Strategy - The group plans to continue focusing on financial services, lending, and asset investment strategies to enhance revenue streams in the upcoming fiscal year[11] - The group is exploring investment opportunities in financial technology, healthcare, and biotechnology sectors, viewing the current market conditions as investment opportunities rather than setbacks[130] - The group's asset investment strategy has been adjusted to allocate more resources to better-performing business activities, resulting in a loss of approximately 124.7 million HKD for the year, an improvement from a loss of 181.2 million HKD in 2022[134] - The group holds investment properties valued at approximately 38.1 million HKD as of December 31, 2023, down from 40.9 million HKD in 2022[138] Corporate Governance and Compliance - The company adopted all provisions of the Corporate Governance Code as its own corporate governance code[174] - The group has adopted the revised Hong Kong Financial Reporting Standards effective from January 1, 2023, impacting the preparation of consolidated financial statements[194] - The group ensures compliance with applicable laws and regulations, particularly those related to money lending and anti-money laundering[116] Market Conditions and Economic Outlook - The International Monetary Fund revised the global economic growth forecast for 2022 from 3.5% to 3.0% due to severe economic challenges faced by many countries[102] - The Hong Kong economy is expected to continue recovering in early 2023, benefiting from inbound tourism and personal consumption[149] - The Hong Kong government has revised its overall economic growth forecast for 2023 down to 3.2%, from a previous estimate of 4% to 5%[149]
嬴集团(00397) - 2023 - 年度业绩