Financial Performance - The revenue from digital assets and blockchain platform business increased by 193.6% to HKD 209.8 million[2] - The loss from continuing operations narrowed significantly by 55.4% to HKD 249.8 million compared to HKD 560.1 million in the previous year[2] - The total comprehensive loss for the year was HKD 265.9 million, compared to HKD 558.1 million in the previous year[7] - Basic and diluted loss per share from continuing operations was HKD 0.58, improved from HKD 1.30[8] - The company reported a net financial income of HKD 6.5 million, compared to a net financial cost of HKD 11.2 million in the previous year[4] - The company reported a net loss attributable to shareholders of HKD 263,862,000 for the year ended December 31, 2023, compared to a loss of HKD 541,038,000 in 2022, indicating an improvement[33] - The basic and diluted loss per share for continuing operations was HKD (0.58) in 2023, compared to HKD (1.30) in 2022, reflecting a reduction in losses[36] Revenue Breakdown - The total revenue from digital asset and blockchain platform business reached HKD 209,837,000 in 2023, up from HKD 71,480,000 in 2022, showing a substantial increase[28] - Digital asset trading revenue significantly increased to HKD 144,755,000 in 2023 from HKD 24,295,000 in 2022, marking a growth of approximately 495.5%[28] - SaaS service revenue decreased to HKD 17,796,000 in 2023 from HKD 30,070,000 in 2022, representing a decline of approximately 40.7%[27] - The revenue from the digital asset technology infrastructure business was HKD 209,980 million, an increase of HKD 138.3 million from HKD 71.5 million in the previous fiscal year[64] Expenses and Cost Management - Administrative and other operating expenses decreased by 41.0% to HKD 336.6 million[2] - The significant reduction in operational losses indicates improved efficiency and cost management strategies implemented by the company[2] - Total employee costs for the year were HKD 188.9 million, down from HKD 313.4 million in the fiscal year 2022, with a reduction in headcount from 209 to 124 employees[70] - OSL's sales expenses for the year were HKD 42.1 million, a reduction of 24.6% from HKD 55.8 million in the previous fiscal year, primarily due to a decrease in the number of employees[67] Assets and Liabilities - Total non-current assets amounted to HKD 263,298,000 as of December 31, 2023, compared to HKD 77,559,000 in the previous year, reflecting a significant increase[10] - Current assets totaled HKD 2,251,001,000, up from HKD 1,363,227,000, indicating a growth of approximately 65% year-over-year[10] - Total liabilities reached HKD 1,855,000,000, a decrease from HKD 1,045,696,000, showing a reduction in financial obligations[12] - The company's equity totaled HKD 395,090,000, down from HKD 659,299,000, indicating a decline in shareholder equity[14] - The company’s total assets were HKD 2,514,299,000, compared to HKD 1,440,786,000, representing an increase of approximately 75% year-over-year[10] Strategic Focus and Future Plans - The company aims to continue its focus on digital asset and blockchain technology development for future growth[3] - The company plans to sell its 90% stake in a subsidiary, Shanghai Jingwei Enterprise Development Co., Ltd., pending shareholder approval and regulatory completion[16] - The company aims to enhance its market position by expanding services to retail clients and solidifying partnerships with banks and financial institutions[52] - The company anticipates a favorable market development trend and sentiment in 2024 following the sale of its commercial park management operations[66] Regulatory and Compliance - The approval of retail trading for Bitcoin (BTC) and Ethereum (ETH) by the Hong Kong Securities and Futures Commission marks a significant regulatory shift, promoting innovation in financial services[54] - The group is committed to compliance with strict regulatory requirements, including anti-money laundering controls and regular financial audits, which may increase operational costs[89] - The group operates in multiple jurisdictions, ensuring compliance with local regulatory environments to provide digital asset solutions[77] Corporate Governance - The company has maintained high standards of corporate governance to protect shareholder interests and enhance corporate value[115] - The Audit Committee consists of three independent non-executive directors, ensuring oversight of financial reporting, risk management, and internal controls[116] - The company emphasizes the importance of effective leadership from the Board of Directors to deliver maximum returns to shareholders[115] Risk Management - The group maintains a cautious approach to financial risk management, not engaging in any significant financial instruments for hedging purposes[80] - The group has established policies to mitigate risks associated with anonymous digital asset transactions, including customer due diligence and ongoing monitoring[93] - The group has implemented strong security measures, including advanced encryption protocols and regular vulnerability assessments, to protect sensitive data[95]
BC科技集团(00863) - 2023 - 年度业绩