Financial Performance - The group's total revenue for the year ended December 31, 2023, was approximately HKD 76,100,000, representing a growth of about 4% compared to HKD 73,300,000 in the same period of 2022[8]. - The group recorded a loss attributable to shareholders of approximately HKD 287,800,000 for the year, compared to a loss of approximately HKD 178,100,000 in 2022[8]. - The group reported a net loss of HKD 288,198,000 for the year ended December 31, 2023, compared to a net loss of HKD 178,092,000 for the previous year, indicating an increase in losses of approximately 62%[122]. - The group recorded a total segment loss of HKD 252,408,000, compared to a loss of HKD 164,362,000 in the previous year[37]. - The group reported a pre-tax loss of HKD 293,597,000, compared to a loss of HKD 178,166,000 in the previous year[37]. Revenue Sources - The group's main revenue sources from traditional brokerage and financing businesses accounted for approximately 79% of total revenue[17]. - The brokerage and financing segment generated revenue of HKD 59,674,000, accounting for 79% of total revenue, down from 87% in the previous year[36]. - The digital asset sales and promotion business achieved a revenue growth of 37%, reaching HKD 2,823,000 compared to HKD 2,062,000 in 2022[36]. - Corporate financing and advisory services generated revenue of approximately HKD 4,800,000 and a post-tax loss of approximately HKD 5,800,000 for the year ended December 31, 2023, compared to revenue of approximately HKD 7,000,000 and a post-tax loss of approximately HKD 3,200,000 in the prior year[84]. - The asset management business recorded revenue of approximately HKD 2,200,000 for the year ended December 31, 2023, with a post-tax loss of approximately HKD 600,000, showing improvement from a loss of HKD 1,700,000 in the previous year[85]. Market Conditions - The Hong Kong stock market experienced a decline of 14% during the reporting year, marking the fourth consecutive year of decline for the Hang Seng Index[24]. - The IPO market in Hong Kong recorded only 73 cases during the reporting year, a decrease of 19% compared to 2022, with total fundraising amounting to HKD 46.3 billion, down 56% from the previous year[24]. - The group anticipates a stabilization in the Hong Kong IPO market in 2024, with an expected 80 companies to list and total fundraising exceeding HKD 100 billion[45]. Business Development and Strategy - The group is actively seeking diversified business development opportunities to expand its business portfolio in response to the negative impact of the local securities market[5]. - The group plans to strategically allocate resources to develop its asset management business, expecting significant returns in the near future[34]. - The group aims to enter the private equity fund sector in 2024 to accelerate the growth of its asset management business[34]. - The group completed the acquisition of Huaying International Asset Management Limited in April 2023, which has started to generate revenue for the asset management business[18]. Impairment and Credit Losses - The group recorded a loss attributable to shareholders for 2023, primarily due to an increase in receivables impairment losses of approximately HKD 127,400,000[36]. - The total expected credit loss provision was HKD 171.7 million as of December 31, 2023, compared to HKD 78.3 million in 2022[73]. - The second stage (doubtful) loans' expected credit loss increased to HKD 93.1 million in 2023 from HKD 21.7 million in 2022[73]. - The third stage (default) loans' expected credit loss rose to HKD 78.5 million in 2023 from HKD 56.1 million in 2022[73]. - The group incurred an additional impairment loss of approximately HKD 43,400,000 on receivables from brokerage business clients, significantly higher than HKD 1,100,000 in the previous year[39]. Employee and Administrative Costs - Employee costs for the year amounted to HKD 57,417,000, up from HKD 43,062,000 in the previous year, reflecting an increase of approximately 33%[121]. - Unallocated administrative costs were approximately HKD 38,300,000 for the year ended December 31, 2023, an increase of approximately HKD 14,900,000 from HKD 23,400,000 in the prior year[101]. - The total number of employees increased to 74 as of December 31, 2023, from 72 a year earlier, with 64 employees based in Hong Kong and 10 in China[115]. Assets and Liabilities - The group’s total assets, excluding client independent accounts, decreased by approximately 31% to HKD 513,300,000 as of December 31, 2023, from HKD 747,700,000 a year earlier[126]. - The group’s net assets as of December 31, 2023, amount to HKD 513,282,000, down from HKD 747,650,000 as of December 31, 2022[138]. - The group held trading financial assets valued at approximately HKD 155,100,000, representing a 48% decrease in market value compared to the previous year due to poor stock market performance[26]. - The group’s current ratio remained at approximately 9 times as of December 31, 2023[118]. - As of December 31, 2023, the company's debt-to-equity ratio is approximately 6%, up from 5% as of December 31, 2022[129]. Shareholder Information - The group successfully completed a placement of 300,000,000 new shares at an issue price of HKD 0.12 per share, raising a total of HKD 36,000,000[30]. - The company reported a loss per share, with no dividends proposed for the year ending December 31, 2023[173][175]. - The company does not recommend the distribution of a final dividend for the year ended December 31, 2023, compared to no dividend in 2022[193]. Governance and Compliance - The company is committed to maintaining high standards of corporate governance and has complied with the Corporate Governance Code as per the listing rules[200]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the year ended December 31, 2023[132].
汇盈控股(00821) - 2023 - 年度业绩