Financial Performance - Total revenue for the year ended December 31, 2022, was HKD 2,314,917,000, a decrease of 42% compared to HKD 3,966,415,000 in 2021[3] - Commission and fee income dropped by 47% to HKD 866,142,000 from HKD 1,626,079,000 in the previous year[3] - Net interest income decreased by 17% to HKD 1,896,682,000, down from HKD 2,280,539,000 in 2021[3] - The profit attributable to ordinary shareholders was HKD 80,381,000, reflecting a significant decline of 93% from HKD 1,094,743,000 in 2021[3] - The total comprehensive income for the year was HKD 33,847,000, a significant drop from HKD 1,150,265,000 in 2021[4] - The company's net profit attributable to ordinary shareholders for 2022 was HKD 80,381,000, a significant decrease from HKD 1,094,743,000 in 2021, resulting in basic earnings per share of HKD 0.8 compared to HKD 11.4 in the previous year[26][28] Assets and Liabilities - The total assets as of December 31, 2022, amounted to HKD 94,455,086,000, a decrease of 11% from HKD 106,288,093,000 in 2021[3] - Total liabilities decreased by 12% to HKD 79.52 billion as of December 31, 2022, mainly due to a 9% decline in issued debt securities to HKD 41.49 billion[51] - The group's current assets were HKD 77.67 billion as of December 31, 2022, a decrease of 12% from the end of 2021, with cash and cash equivalents increasing to HKD 7.757 billion from HKD 5.278 billion[54] Equity and Dividends - The total dividend declared was HKD 477,700,000, a decrease of 17% compared to HKD 576,259,000 in the previous year[3] - The company proposed a final special dividend of HKD 0.010 per share, bringing the total annual dividend to HKD 0.050 per share, with a payout ratio of 594%[39] - The company's equity attributable to ordinary shareholders decreased from HKD 15,307,361 in 2021 to HKD 14,806,699 in 2022, a decline of 3.3%[7] Operational Highlights - The company operates through five main segments: Wealth Management, Institutional Investor Services, Corporate Finance Services, Investment Management, and Others[13] - The company maintained a strong focus on risk management and operational resilience despite challenging market conditions[39] - The group aims to enhance its core competitiveness through excellent risk management and accelerate digital transformation, focusing on financial technology applications and cross-border wealth management services[58] Cost Management - The company's total expenses for the year included a significant reduction in other commission expenses, which decreased to HKD 42,708,000 from HKD 64,961,000 in 2021[21] - Total costs decreased by 15% year-on-year to HKD 2.293 billion, mainly due to lower financing costs and impairment provisions[48] - The company's employee costs totaled HKD 721,499 thousand in 2022, down from HKD 803,434 thousand in 2021, representing a decrease of about 10.2%[20] Market Conditions - The average daily trading volume in the Hong Kong stock market decreased by 25% year-on-year to HKD 124.9 billion[39] - The total amount raised from IPOs in the Hong Kong stock market dropped by 68% year-on-year to HKD 104.6 billion[39] Compliance and Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all provisions throughout the year 2022[64] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed matters related to auditing, internal control, and financial reporting[66] - The external auditor, KPMG, verified the financial data in the annual performance announcement, which is consistent with the audited consolidated financial statements[66] Shareholder Engagement - The company expressed gratitude to shareholders and customers for their trust and support, as well as to the board and all employees for their hard work and contributions during the year[68] - The annual report for the year ending December 31, 2022, will be sent to shareholders and published on the company's website at an appropriate time[69]
国泰君安国际(01788) - 2022 - 年度业绩