Financial Performance - The Group reported a net loss of approximately HK$25.7 million for the year ended 31 December 2023, a decrease from HK$27.8 million in 2022[13]. - Basic and diluted loss per share for continuing operations was approximately HK$0.044, down from HK$0.057 in 2022[13]. - Overall operating costs decreased by approximately HK$2.2 million, contributing to the reduction in net loss[13]. - The Group's continuing operations recorded revenue of approximately HK$18.9 million in 2023, an increase from approximately HK$18.2 million in 2022, while the loss attributable to owners decreased to approximately HK$25.7 million from HK$27.8 million[41]. - The net loss attributable to equity holders for the year was approximately HK$25,700,000, a decrease from HK$27,800,000 in 2022, primarily due to a reduction in overall operating costs of approximately HK$2,200,000[45]. Revenue Breakdown - The financial services business generated revenue of approximately HK$11.4 million, with a segment profit of approximately HK$3.3 million, compared to revenue of HK$11.9 million and segment profit of HK$2.3 million in 2022[14]. - Corporate financial advisory services revenue increased to approximately HK$8.4 million, representing about 44.4% of the Group's total revenue, up from HK$5.2 million in 2022[15]. - The corporate consulting business recorded revenue of approximately HK$4.0 million in 2023, down from HK$4.7 million in 2022, but segment profit increased to approximately HK$2.3 million from HK$1.9 million[21][25]. - The digital business generated revenue of approximately HK$3.5 million in 2023, significantly up from HK$1.6 million in 2022, although it incurred a segment loss of approximately HK$3.5 million compared to a loss of HK$2.5 million in the previous year[23][26]. Loans and Interest Income - Loans receivable amounted to approximately HK$5.2 million as of 31 December 2023, an increase from HK$4.7 million in 2022[20]. - Interest income from loans receivable was approximately HK$0.5 million for the year ended 31 December 2023, down from HK$0.6 million in 2022[20]. - Individual loans receivable accounted for approximately 61.7% of total gross loans receivable, down from 78.5% in 2022, while corporate loans accounted for approximately 38.3%, up from 21.5%[51]. - The interest rates for individual loans ranged from 8% to 15%, compared to 8% to 12% in 2022, while corporate loans maintained a rate of 12%[51]. - The expected credit loss (ECL) rates for loans receivable ranged from 12.15% to 35.89%, depending on the nature and risk characteristics of the loans[56]. Digital Business and Technology - The Group is engaged in financial services, corporate consulting, and digital business leveraging blockchain and AI technologies[12]. - The Group aims to leverage blockchain technology to develop a comprehensive ecosystem for creators, enhancing their ability to store, manage, and access content on the blockchain[32][34]. - The Group's digital business projects faced delays due to market sentiment issues stemming from the collapse of major cryptocurrency platforms and banks in early 2023[68][72]. - The Group aims to leverage blockchain technology for IP asset management, having acquired NOIZChain in July 2022 to create a digital wallet and metaverse[86]. Corporate Governance and Strategy - The Group expects a significant increase in demand for governance-related services in the corporate consulting sector in the near future[21][25]. - The Group anticipates ongoing demand for corporate governance services from Hong Kong listed issuers due to increased global awareness[93]. - The Group is negotiating for asset management opportunities under the Capital Investment Entrant Scheme (CIES) to enhance financial services performance[88]. - The Group plans to transition to the main organizer of live events in Hong Kong, Macau, and Taiwan, enhancing control over associated IP assets[87]. Financial Position and Capital Structure - As of December 31, 2023, the company recorded cash and bank balances of approximately HK$14.2 million, down from approximately HK$34.8 million in 2022[112]. - The net current assets value as of December 31, 2023, was approximately HK$15.6 million, an increase from approximately HK$10.3 million in 2022[112]. - The company's gearing ratio as of December 31, 2023, was approximately 1.37, compared to approximately 1.08 in 2022, indicating an increase in leverage[113]. - Total interest-bearing debts, including convertible bonds, amounted to approximately HK$77.9 million as of December 31, 2023, down from approximately HK$85.1 million in 2022[113]. Shareholder and Board Information - The board did not recommend the payment of any dividend for the year ended December 31, 2023, consistent with 2022[111]. - Ms. Ng Ka Sim, Casina and Ms. Yeung Mo Sheung, Ann are recommended for re-election as independent non-executive Directors at the AGM[189]. - Mr. Cheung Wai Yin, Wilson resigned as an executive Director effective March 31, 2023[196]. - The Nomination Committee believes that the independent non-executive Directors will continue to contribute positively to the Board[189]. Market and Operational Insights - Several digital business projects have been delayed due to a decline in market sentiment, influenced by the collapse of financial institutions and cryptocurrency exchanges[23][26]. - The Group's largest customer accounted for 21.44% of total sales in 2023, down from 29.55% in 2022[177]. - The total sales from the five largest customers represented 55.55% of the Group's sales in 2023, compared to 53.88% in 2022[177]. - The Group made charitable contributions of approximately HK$39,800 in 2023, a decrease from approximately HK$120,000 in 2022[180].
声扬集团(08163) - 2023 - 年度财报