Financial Performance - The company's revenue for the year ended December 31, 2022, increased by 38.3% to approximately HKD 59.9 million, compared to HKD 43.3 million for the previous year[6]. - The company reported a loss of approximately HKD 5.8 million for the year ended December 31, 2022, compared to a profit of approximately HKD 4.7 million for the previous year[6]. - The total revenue of Sheng Yuan Financial Services Group Limited increased by approximately 16.6% to about HKD 48.5 million for the year ended December 31, 2022, up from HKD 41.6 million in the previous year[10]. - Revenue from securities brokerage and financial services surged by 125.2% to approximately HKD 27.7 million for the year ended December 31, 2022, compared to HKD 12.3 million in the previous year[10]. - The asset management division recorded a revenue of approximately HKD 20.8 million for the year ended December 31, 2022, a decrease of about 29.2% from HKD 29.4 million in the previous year[13]. - The company experienced a significant decline in asset management profits, which fell by approximately 72.2% to about HKD 6.2 million for the year ended December 31, 2022, compared to HKD 22.3 million in the previous year[13]. - The proprietary trading segment recorded a loss of approximately HKD 1,000,000 for the year ended December 31, 2022, compared to a profit of approximately HKD 1,100,000 in 2021[14]. - The trading business segment achieved a profit of approximately HKD 100,000 for the year ended December 31, 2022, recovering from a loss of approximately HKD 200,000 in 2021[15]. - The company recorded a post-tax loss of approximately HKD 5,800,000 for the year ended December 31, 2022, compared to a post-tax profit of approximately HKD 4,700,000 in 2021[89]. - The net cash inflow from operating activities was approximately HKD 10,700,000 for the year ended December 31, 2022, up from approximately HKD 6,600,000 in 2021[89]. Customer and Account Growth - The number of customer accounts at Sheng Yuan Securities increased to 723 as of December 31, 2022, up from 653 accounts a year earlier[8]. - Customer trust bank accounts increased by 172% to approximately HKD 82.4 million as of December 31, 2022, compared to HKD 30.3 million a year earlier[8]. - The balance of trust and independent accounts increased by approximately 171.9% to about HKD 82,400,000 from approximately HKD 30,300,000 in the previous year[20]. Asset Management and Liabilities - The asset management division's total managed assets decreased by 62.8% to approximately HKD 706 million as of December 31, 2022, down from approximately HKD 1.9 billion in the previous year[13]. - Trade and other receivables decreased by approximately 37.1% to about HKD 18,000,000 from approximately HKD 28,600,000 in 2021, primarily due to increased provisions for losses in asset management and underwriting services[20]. - The group’s current assets and current liabilities as of December 31, 2022, were approximately HKD 198,700,000 and HKD 251,800,000, respectively, compared to HKD 131,300,000 and HKD 47,600,000 in 2021[20]. - The company had total liabilities of approximately HKD 99,700,000 and convertible bonds amounting to HKD 149,000,000[89]. Corporate Governance - The board consists of two executive directors, two non-executive directors, and three independent non-executive directors as of December 31, 2022[42]. - The company maintained compliance with the Corporate Governance Code, with a deviation regarding the separation of roles between the Chairman and CEO[39]. - The board held three regular meetings during the reporting period, which is below the required four meetings per year[40]. - The company has a balanced distribution of executive and non-executive directors to ensure robust independence in decision-making[44]. - The independent non-executive directors accounted for over one-third of the board during the reporting period, ensuring compliance with listing rules[44]. - The company is committed to high standards of corporate governance to protect shareholder interests and enhance accountability[39]. - The company has adopted the standard code of conduct for securities trading by directors, ensuring compliance throughout the year[41]. - The company has appointed independent non-executive directors with appropriate professional qualifications and experience as required by listing rules[44]. - The company has experienced leadership changes, with the appointment of Zhao Yun as CEO on May 20, 2022[43]. - The company has a diverse board with members possessing extensive experience in finance, law, and corporate governance[36][37][39]. Sustainability and ESG Initiatives - The company is committed to sustainability, integrating environmental, social, and governance (ESG) principles into its business strategy[100]. - The ESG report outlines the company's initiatives and performance in sustainability, highlighting its commitment to responsible management of ESG matters[100]. - The company has formed an ESG working group responsible for collecting relevant data and reporting on ESG risks and performance[101]. - The report covers the company's operations in Hong Kong, including securities brokerage, asset management, proprietary trading, and trading business[102]. - The total greenhouse gas emissions for the year 2022 were 63.15 tons of CO2 equivalent, a decrease from 71.34 tons in 2021, reflecting a reduction of approximately 11.5%[121]. - The total energy consumption in 2022 was 88.94 MWh, down from 100.48 MWh in 2021, maintaining a similar energy consumption density of 3.87 MWh per employee[133]. - The total water consumption for the company in 2022 was 26 cubic meters, significantly reduced from 60 cubic meters in 2021, resulting in a water intensity of 1.13 cubic meters per employee compared to 2.31 cubic meters in 2021[137]. - The company has implemented policies to promote environmental management practices, focusing on waste reduction, reuse, and recycling[118]. - The company aims to conduct at least one waste reduction activity in 2023 to enhance employee awareness of waste reduction[126]. - The company has committed to using certified paper from the Forest Stewardship Council to minimize environmental impact[128]. Employee Engagement and Training - The employee turnover rate for the year 2022 was 41%, a decrease from 56% in 2021[155]. - The company had a total of 23 full-time employees as of December 31, 2022, down from 26 the previous year[153]. - The percentage of employees receiving training was approximately 35%, down from 50% in 2021, with an average training duration of 7.11 hours per employee, compared to 3.31 hours in 2021[167]. - The management team had a 100% training participation rate in 2022, up from 85% in 2021, with an average training duration of 20.44 hours[167]. - The company actively promotes work-life balance through various employee engagement activities[157]. Compliance and Risk Management - The company adheres to strict compliance and auditing measures to ensure the protection of client assets and personal data[175]. - The company has established a risk assessment framework for different financial products, ensuring appropriate product recommendations based on clients' risk tolerance[179]. - The company has implemented a robust anti-corruption culture, with no significant violations of bribery, extortion, fraud, or money laundering laws reported during the period[180]. - The company conducts annual training and seminars on anti-corruption for employees and directors to enhance awareness and compliance[183]. - The company has developed comprehensive policies and procedures for anti-money laundering, including a designated officer responsible for investigations[184]. Community Engagement - The company has not participated in community investment activities in 2022 due to the COVID-19 pandemic, but plans to engage with the community once the situation stabilizes[186]. - The company encourages employees to donate to recognized charities to support vulnerable groups and proposes areas for contribution based on their community experiences[186]. - The company has established policies to foster a corporate culture of social responsibility and community engagement as part of its strategic development[186].
盛源控股(00851) - 2022 - 年度财报