永恒策略2024年报

ANNUAL REPORT2024 Corporate Information2Chairman’s Statement4Management Discussion and Analysis8Corporate Governance Report34Directors’ Report58Biographical Details of Directors76Independent Auditors’ Report79Consolidated Statement of Profit or Loss and Other Comprehensive Income88Consolidated Statement of Financial Position90Consolidated Statement of Changes in Equity92Consolidated Statement of Cash Flows94Notes to the Consolidated Financial Statements97Five-Year Financial Summary328 Corporate Information公司資料 BOARD OF DIRECTORS Executive directors Mr. Lei Hong Wai(Chairman and Chief Executive Officer)Mr. Cheung Kwok Wai EltonMr. Cheung Kwok Fan Independent non-executive directors Mr. Wan Shing ChiMr. Ng Heung YanMs. Leung Man Yee FannyMr. Law Kwok Ho Kenward(appointed on 1 July 2024)Mr. Wong Tak Chuen(resigned on 1 July 2024) COMPANY SECRETARY Ms. Lo Ming Wan(appointed on 8 July 2024)Mr. Chan Kin Wah Billy(resigned on 8 July 2024) AUDIT COMMITTEE Mr. Law Kwok Ho Kenward(Chairman)(appointed on 1 July 2024)Mr. Wong Tak Chuen(Chairman)(resigned on 1 July 2024)Mr. Wan Shing ChiMr. Ng Heung YanMs. Leung Man Yee Fanny REMUNERATION COMMITTEE Mr. Ng Heung Yan(Chairman)Mr. Lei Hong WaiMr. Wan Shing ChiMs. Leung Man Yee Fanny NOMINATION COMMITTEE Mr. Lei Hong Wai(Chairman)Mr. Wan Shing ChiMr. Ng Heung YanMs. Leung Man Yee Fanny FINANCE COMMITTEE Mr. Cheung Kwok Wai Elton(Chairman)Mr. Law Kwok Ho Kenward(appointed on 1 July 2024)Mr. Wong Tak Chuen(resigned on 1 July 2024) REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS 168-2001211 Unit 1211Shun Tak Centre, West Tower168 – 200 Connaught Road CentralHong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Investor Services LimitedShare Registration Public Office17/F, Far East Finance Centre16 Harcourt RoadHong Kong AUDITORS HLB Hodgson Impey Cheng LimitedCertified Public Accountants PRINCIPAL BANKERS DBS Bank (Hong Kong) LimitedHang Seng Bank Limited STOCK CODE 764 764 www.eternityinv.com.hk WEBSITE www.eternityinv.com.hk E-MAIL ADDRESS wanda@eternityinv.com.hk wanda@eternityinv.com.hk Chairman’s Statement主席報告 To our shareholders 41651%(i)137(ii)12(iii)49(iv)(i)95(ii)23 In 2024, we reported a loss attributable to ownersof the Company of HK$416 million, a 51% increasecompared to last year. This increase in loss attributableto owners of the Company was mainly attributable to (i)a HK$137 million increase in impairment loss in respectof goodwill; (ii) a HK$12 million decrease in gain ondisposals of residential serviced apartments under long-term lease agreements treated as finance leases, (iii) aHK$49 million increase in the loss arising on change infair value of investment properties, (iv) which were partlyoffset by (i) a HK$95 million decrease in allowance forexpected credit losses (“ECL”) on loan receivables, and(ii) the recognition of a one-off loss of HK$23 million onthe modification of the terms of the guaranteed securednotes due 2025. 25281%846 We reported a segment loss (before taxation) of HK$25million for our sale of financial assets business in 2024,a 281% increase compared to last year. The increasein segment loss (before taxation) was mainly due tothe recognition of the trading loss of HK$8 millionin the year ended 31 December 2024, in contrast tothe trading gain of HK$4 million in the year ended 31December 2023, and a HK$6 million increase in theloss arising on change in fair value of financial assetsat fair value through profit or loss. As we expect theglobal macroeconomic environment to remain uncertainin 2025, we will cautiously monitor the equity market,adjust our equity securities portfolio from time to time,and realise our equity securities into cash as and whenappropriate. 2012484%84%9510 Our money lending business reported a segment loss(before taxation) of HK$20 million in 2024, a 84%improvement from HK$124 million last year. This 84%improvement in segment results was mainly due toa HK$95 million decrease in allowance for ECL onloan receivables, which was partly offset by a HK$10million decrease in interest income on loans. Given theglobal macroeconomic environment is expected to beuncertain, we intend to maintain the size of the Group’sloan portfolio in 2025. Nevertheless, we will closelymonitor the performance of the Group’s loan portfolio,especially in each customer’s repayment and financialcondition, and make every effort to recover the overdueloan receivables. 1367% Our sale of jewelry products business reported asegment profit (before taxation) of HK$1 million in 2024,a 67% decrease from HK$3 million last year. Due tothe signific