Financial Performance - The group's total revenue for the year ended December 31, 2023, was HKD 214,649,000, compared to HKD 208,171,000 in 2022, representing a growth of approximately 3.5%[6] - Interest income increased to HKD 10,847,000 in 2023 from HKD 3,822,000 in 2022, marking a significant rise of 184%[5] - The group reported a net profit of HKD 39,409,000 for the year, compared to HKD 4.2 million in the previous year, indicating a substantial increase[5] - The group’s operating profit for the year was HKD 17,746,000, reflecting a recovery from previous losses[5] - The company’s profit for the year ended December 31, 2023, was HKD 39,409,000, a significant decrease of 91.4% compared to HKD 456,969,000 in 2022[84] - Basic and diluted earnings per share for 2023 were HKD 6.60, down from HKD 76.51 in 2022, indicating a decline of 91.4%[90] - The total comprehensive income for the year was a loss of HKD 120,268,000, compared to a loss of HKD 380,380,000 in 2022[84] - Shareholders' profit attributable to the company decreased by 91.4% to HKD 39.41 million[100] - The company's profit attributable to shareholders for 2023 was HKD 39.41 million, a decrease of HKD 41.76 million or 91.4% compared to HKD 456.97 million in 2022[175] Assets and Liabilities - The total assets of the company and its subsidiaries amounted to HKD 9,184,725,000 as of December 31, 2023, compared to HKD 9,168,857,000 in 2022, showing a slight increase[6] - The total liabilities of the group were HKD 6,442,096,000 as of December 31, 2023, down from HKD 6,550,270,000 in 2022, indicating a reduction in debt[6] - The total equity attributable to shareholders decreased to HKD 8,069,450,000 from HKD 8,261,389,000 in 2022, a decline of 2.3%[94] - The impairment provision for credit losses as of December 31, 2023, was HKD 153.24 million, compared to HKD 170.06 million in 2022[193] Dividends - The company proposed a final dividend of HKD 0.09 per share for the year ending December 31, 2023, totaling approximately HKD 53.75 million, a decrease from HKD 0.12 per share in 2022, which amounted to HKD 71.67 million[20] - The company declared a final dividend of HKD 0.09 per share, down from HKD 0.12 per share in the previous year[90] Insurance Operations - The insurance customer expenses were recorded at HKD (163,007,000) in 2023, compared to HKD (160,450,000) in 2022, indicating an increase in costs[5] - The insurance revenue for the year was HKD 191,128,000, compared to HKD 194,998,000 in 2022, reflecting a decrease of 2.0%[90] - Minxin Insurance reported a post-tax profit of HKD 4.87 million in 2023, a decrease of 74.7% compared to HKD 19.25 million in 2022, primarily due to a decline in insurance service performance[60] - The insurance services segment recorded a profit of HKD 11.52 million, a decline of 39.9% from HKD 19.15 million in 2022 due to decreased insurance revenue and increased claims costs[173] Investments and Strategic Plans - The group plans to continue expanding its strategic investments, including in high-tech projects and bonds, to enhance overall performance[3] - The company plans to continue expanding distribution channels and identifying new business opportunities in the competitive insurance market[179] Accounting and Compliance - The initial application of the revised accounting standards is not expected to have a significant impact on the group's financial position or performance[2] - The company adopted HKFRS 17 on January 1, 2023, which established principles for the recognition, measurement, presentation, and disclosure of insurance contracts[137] - The company’s financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards and comply with the applicable disclosure requirements of the Listing Rules[130] Foreign Exchange and Other Financial Matters - The company incurred a net foreign exchange loss of HKD 6.28 million in 2023, a decrease from HKD 27.69 million in 2022[188] - The net foreign exchange loss for 2023 was HKD 6,276,000, significantly improved from HKD 27,689,000 in 2022[128] Employee and Operational Metrics - The company’s total number of employees as of December 31, 2023, was 69, with compensation based on individual performance and qualifications[42] - The company’s indirect expenses related to strategic decisions and central operations are classified under "Corporate Activities" and not allocated to reportable segments[125]
闽信集团(00222) - 2023 - 年度业绩