Financial Performance - The company recorded revenue of approximately HKD 24.1 million for the year ended December 31, 2023, representing an increase of about 244% from approximately HKD 7.0 million for the year ended December 31, 2022[6]. - Profit for the year ended December 31, 2023, was approximately HKD 8.9 million, a turnaround from a loss of approximately HKD 12.7 million for the year ended December 31, 2022[6]. - Basic earnings per share for the year ended December 31, 2023, was approximately HKD 1.11, compared to a basic loss per share of approximately HKD 1.59 for the previous year[6]. - Total revenue for the year ended December 31, 2023, was HKD 24,143,000, a significant increase from HKD 7,022,000 in 2022, representing a growth of 244%[32]. - Brokerage services generated revenue of HKD 22,434,000 in 2023, compared to HKD 4,102,000 in 2022, marking an increase of 447%[34]. - The company reported a pre-tax profit of HKD 11,402,000 for 2023, a turnaround from a pre-tax loss of HKD 14,384,000 in 2022[32]. - Basic earnings attributable to shareholders for 2023 were HKD 8,909,000, compared to a loss of HKD 12,740,000 in 2022[43]. - The company incurred total employee costs of HKD 6,190,000 in 2023, slightly up from HKD 6,125,000 in 2022[41]. - Other income for the year was approximately HKD 0.1 million, a decrease from HKD 0.8 million in the previous year due to the absence of government subsidies[64]. - The company generated a tax expense of approximately HKD 2.5 million for the year, compared to a tax credit of approximately HKD 1.6 million in the previous year due to profitability[69]. Assets and Liabilities - Total assets less current liabilities increased to HKD 50.2 million as of December 31, 2023, compared to HKD 40.8 million as of December 31, 2022[9]. - Non-current assets increased to HKD 25.2 million as of December 31, 2023, from HKD 16.2 million as of December 31, 2022[9]. - Current liabilities decreased to HKD 21.5 million as of December 31, 2023, from HKD 25.4 million as of December 31, 2022[9]. - The company reported a net asset value of HKD 7.7 million as of December 31, 2023, compared to a net liability of HKD 1.3 million as of December 31, 2022[9]. - The company reported a total of HKD 30,619,000 in accounts receivable for 2023, a significant increase from HKD 16,766,000 in 2022[43]. - The group's accounts receivable and interest amounted to approximately HKD 839,000,000, compared to HKD 137,000,000 in 2022[45]. - The group's accounts receivable and interest, after deducting expected credit losses, was approximately HKD 13.8 million for the year, down from HKD 27.8 million in 2022[58]. - The group reported a fixed-rate receivable loan and interest of HKD 14,959,000 in 2023, down from HKD 29,254,000 in 2022[46]. - The expected credit loss ratio for corporate loans is 9.1%, while the expected credit loss ratio for personal loans is 0%[60]. Operational Efficiency - The increase in revenue was primarily driven by increased trading volume from collaboration with another Hong Kong brokerage and higher income from placement fees and consultancy fees[6]. - The company experienced a reduction in other operating and administrative expenses from HKD 10.1 million for the year ended December 31, 2022, to HKD 8.0 million for the year ended December 31, 2023[6]. - General and administrative expenses decreased by approximately 22% to HKD 8.0 million from HKD 10.2 million in the previous year[67]. - IT and communication expenses accounted for approximately 49.2% of general and administrative expenses, totaling about HKD 3.9 million, an increase of approximately 11.7% from the previous year[67]. - Legal and professional fees amounted to approximately HKD 1.0 million, an increase of about 11.1% from HKD 0.9 million in the previous year due to one-time costs related to a change in the ultimate holding company[68]. Corporate Governance and Compliance - The company changed its name from "駿溢環球金融控股有限公司" to "立橋證券控股有限公司" as approved in a special shareholders meeting on December 29, 2023[10]. - The company adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, with no significant impact on the financial position and performance[15]. - The company first applied the revised Hong Kong Accounting Standard 8, clarifying the definition of accounting estimates, with no impact on the consolidated financial statements[16]. - The company first adopted the revised Hong Kong Accounting Standard 12 regarding deferred tax assets and liabilities, with no impact on the consolidated financial statements[18]. - The group has not early adopted any new or revised Hong Kong Financial Reporting Standards that have been issued but are not yet effective[30]. - The board is committed to good corporate governance practices and has adhered to the corporate governance code throughout the year[79]. - The company has maintained the required public float as per GEM listing rules as of December 31, 2023[87]. - There are no significant events occurring after the report date[85]. Future Outlook and Strategy - The group plans to reinvest profits from the previous year into technology development to enhance trading platforms and improve user experience[53]. - The group aims to maintain a loan scale between approximately HKD 5 million and HKD 20 million to ensure appropriate risk diversification relative to total assets[57]. - The group plans to control costs while increasing resources for market promotion to expand its customer base following a change in major shareholders in 2023[53]. - The group faced a challenging year in 2024 due to high interest rates and geopolitical factors affecting the Hong Kong economy[52]. - The group’s cash flow improved in the second half of 2023, but the board remains cautious and continues to monitor liquidity[53]. - The company is focused on expanding its market presence and exploring new business opportunities[93]. - The board emphasizes the importance of innovation and technology development in driving growth[93]. - The company will continue to monitor market trends and adjust strategies accordingly[93]. - Stakeholder engagement remains a priority for the company in its strategic planning[93].
立桥证券控股(08350) - 2023 - 年度业绩