K CASH集团2024年报告

CONTENTS 2Corporate Information公司資料5Financial Highlights財務摘要6Chairman’s Statement主席報告8Management Discussion and Analysis管理層討論及分析21Directors’ and Senior Management’sBiographies董事及高級管理層履歷27Directors’ Report董事會報告53Environmental, Social and GovernanceReport環境、社會及管治報告109Corporate Governance Report企業管治報告131Independent Auditor’s Report獨立核數師報告 141Financial Statements財務報表 141Consolidated Statement ofComprehensive Income142Consolidated Balance Sheet144Consolidated Statement of Changes inEquity145Consolidated Statement of Cash Flows146Notes to the Historical FinancialInformation 241Definitions釋義 Corporate Information公司資料 BOARD OF DIRECTORS 執行董事 Executive DirectorsMr. Lee Kun Tai StevenMs. Wong Cheuk Sze Non-executive Directors 非執行董事 Mr. Lee Sheung ShingMs. Lee Pik TsongMs. Chan Wing SzeMs. Kan Pui Yan Independent Non-executive Directors 獨立非執行董事 爲 Prof. Hung Wai ManJPMr. Mak Wing Sum AlvinMr. Leung Ka Cheung 爲 AUDIT COMMITTEE Mr. Leung Ka Cheung(Chairman)Prof. Hung Wai ManJPMr. Mak Wing Sum Alvin REMUNERATION COMMITTEE Prof. Hung Wai ManJP(Chairman)Mr. Lee Kun Tai StevenMr. Lee Sheung ShingMr. Mak Wing Sum AlvinMr. Leung Ka Cheung 爲 NOMINATION COMMITTEE Mr. Lee Sheung Shing(Chairman)Mr. Lee Kun Tai StevenProf. Hung Wai ManJPMr. Mak Wing Sum AlvinMr. Leung Ka Cheung 爲 INDEPENDENT BUSINESS OPPORTUNITYASSESSMENT COMMITTEE Mr. Mak Wing Sum Alvin (Chairman)Ms. Wong Cheuk SzeProf. Hung Wai ManJPMr. Leung Ka Cheung 爲 Corporate Information AUTHORISED REPRESENTATIVES Mr. Lee Kun Tai StevenMs. Lai Siu Kuen COMPANY SECRETARYMs. Lai Siu Kuen(FCG, HKFCG) FCG, HKFCG COMPANY WEBSITEwww.kcash.hk www.kcash.hk PRINCIPAL PLACE OF BUSINESSIN HONG KONG 17/F, Wheelock House20 Pedder StreetCentralHong Kong 2017 REGISTERED OFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand CaymanKY1-1111Cayman Islands HONG KONG SHARE REGISTRAR Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 卓佳證券登記有限公司1617 Corporate Information AUDITOR 羅兵咸永道會計師事務所22 PricewaterhouseCoopersCertified Public Accountants andRegistered Public Interest Entity Auditors22/F, Prince’s BuildingCentralHong Kong LEGAL COUNSEL 金杜律師事務所1513 As to Hong Kong LawsKing & Wood Mallesons13/FGloucester TowerThe Landmark15 Queen’s Road CentralCentralHong Kong COMPLIANCE ADVISER 中國光大融資有限公司10812 China Everbright Capital Limited12th FloorEverbright Centre108 Gloucester RoadWan ChaiHong Kong 星展銀行（香港）有限公司9911 PRINCIPAL BANKERS DBS Bank (Hong Kong) Limited11/F, The Center99 Queen’s Road CentralHong Kong 東亞銀行有限公司10 The Bank of East Asia, LimitedBank of East Asia Building10 Des Voeux Road CentralHong Kong STOCK CODE2483 2483 Financial Highlights財務摘要 The following is a summary of the Group’s published results for the pastfive financial years. CONSOLIDATED STATEMENT OF COMPREHENSIVEINCOME Chairman’s Statement主席報告 Dear Shareholders, 親愛的股東： K Cash On behalf of the Board, I am pleased to present the annual report ofK Cash Corporation Limited and its subsidiaries for the year ended 31December 2024. PROFIT FOR THE YEAR 63.851.6 The Group’s profit for the year ended 31 December 2024 amounted toapproximately HK$63.8 million as compared to HK$51.6 million last year,which was mainly attributable to the increase in our loan portfolio. DIVIDEND The Board has resolved to recommend the payment of a final dividendof HK3 cents per Share (2023: HK1.998 cents per Share) and a specialdividend of HK2.5 cents per Share (2023: nil), respectively, for the yearunder review. 31.9982.5 BUSINESS REVIEW The Group’s business activities are principally carried out by two wholly-owned subsidiaries, K Cash Express and K Cash. K Cash Express focuses onthe provision of Unsecured Property Owner Loans, while K Cash focuseson the provision of Personal Loans. KCash ExpressK CashK Cash ExpressK Cash 964.427.8%1,232.410.2%8.7% During the Reporting Period, we have successfully raised external fundsfrom authorized institutions in Hong Kong and a fund provider in Japan.Together with the unutilized net proceeds from the Listing, we have madeuse of such funds to expand our loan portfolio, and our loan receivablesafter deducting provision for impairment has increased by 27.8% fromHK$964.4 million as of 31 December 2023 to HK$1,232.4 million asof 31 December 2024. In particular, we have increased the amount ofUnsecured Property Owner Loans granted which has a larger loan principaland have a lower bad debt risk as compared to other loan products, andour expected loss rates decreased from 10.2% as of 31 December 2023 to8.7