贝森金融二零二三年年报

2023Annual Report年報 CONTENTS Letter from the Board2Operational Review5Financial Highlights16Financial Review17Profiles of Directors28Directors’ Report31Corporate Governance Report44Environmental, Social andGovernance Report68Financial Report102Five-Year Financial Summary206Corporate Information208 LETTER FROM THE BOARD Dear Shareholders, Onbehalf of the board(the “Board”)ofdirector s(the“Directors”) of Bison Finance Group Limited (the “Company”together with its subsidiaries, collectively the “Group”), I herebypresent to the shareholders of the Company (the “Shareholders”)the annual report of the Company for the year ended 31 December2023. RESULTS FOR THE YEAR 35,600,00041,000,00013.2% For the year ended 31 December 2023, the Group reportedrevenue of approximately HK$35.6 million, representing a decreaseof approximately 13.2% from the revenue of approximatelyHK$41.0 million of the previous year. 20,600,000123,100,00083.2% For the year ended 31 December 2023, the Group reported a lossattributable to owners of the Company of approximately HK$20.6million (2022: approximately HK$123.1 million), representing adecrease in loss of approximately 83.2% as compared to previousyear. Such decrease in loss was mainly attributable to: (i) (i)Reduction in provision for impairmentlosses on non-current assets anddepreciation and amortisation 43,900,0001,000,00015,400,000(a)(b)43,900,000 The provision for impair ment losses on non-currentassets for the year ended 31 December 2023 amounted toHK$nil (2022: approximately HK$43.9 million), whereasthe depreciation and amortisation for the year ended 31December 2023 amounted to approximately HK$1.0 million(2022: approximately HK$15.4 million). Such reductionwas mainly due to no impairment losses on intangible assetsand property and equipment and right-of-use assets beingrecognised for the year ended 31 December 2023 (2022:approximately HK$43.9 million) as (a) intangible assetsof the Company were fully impaired and (b) property andequipment and right-of-use assets of the Company were closeto fully impaired during the year ended 31 December 2022. (ii) (ii) Reduction in net realised and unrealisedlosses on financial assets at fair valuethrough profit or loss 5,400,00039,700,0005,600,00036,800,000 The net realised and unrealised losses on financial assetsat fair value through profit or loss for the year ended 31December 2023 amounted to approximately HK$5.4 million(2022: approximately HK$39.7 million). Such reductionwas mainly due to the net unrealised loss on investment ina private equity fund having decreased to approximatelyHK$5.6 million for the year ended 31 December 2023 (2022:approximately: HK$36.8 million). (iii) (iii) Reversal of provision for impairment losseson financial assets, net 20,600,000600,000(a)14,300,0001,800,000(b)2,900,0003,500,000 The reversal of provision for impairment losses on financialassets, net for the year ended 31 December 2023 amountedto approximately HK$20.6 million, whereas provision forimpairment losses on financial assets, net for the year ended31 December 2022 amounted to approximately HK$0.6million. Such reversal was mainly due to a decrease in loansreceivable and loan to a related company as a result of therepayment from these borrowers during the year ended 31December 2023 and hence (a) a reversal of provision forimpairment losses on loans receivable of approximatelyHK$14.3 million (2022: approximately HK$1.8 million) wasrecognised for the year ended 31 December 2023, and (b) areversal of provision for impairment loss on loan to a relatedcompany of approximately HK$2.9 million (2022: provisionfor impairment loss of approximately HK$3.5 million) wasrecognised for the year ended 31 December 2023. FINAL DIVIDEND The Directors do not recommend the payment of a final dividendfor the year ended 31 December 2023 (2022: Nil). BUSINESS REVIEW 1469 The Group was principally engaged in the provision of financialservices with the licenses to carry out Type 1 (dealing in securities),Type 4 (advising on securities), Type 6 (advising on corporatefinance) and Type 9 (asset management) regulated activities underthe Securities and Futures Ordinance (“SFO”) (collectively, the“Financial Services Business”) during the reporting period. (1) (1)Financial Services Business (i)(ii)(iii)(iv)(v) As at 31 December 2023, the Financial Services Business ofthe Group mainly consists of (i) external asset management(“EAM”) services; (ii) fund management services; (iii)securities services; (iv) investment advisory services to fundmanagement; and (v) corporate finance advisory services. (2) (2)Other Investments B e i Ta iInvestment LP72,000,00072,000,00071.0%71.0%23,900,00029,500,000 The Group has been continuously exploring opportunitiesfor investments to diversify income stream and maximisereturns for the Shareholders. As disclosed in the Company’sannouncement dated 22 February 2019, the Group subscribedfor limited partner interests in BeiTai