香港信贷2025年报

CONTENTSCorporate InformationManagement Discussion and AnalysisCorporate Governance ReportEnvironmental, Social and Governance ReportDirectors and Senior ManagementReport of the DirectorsIndependent Auditor’s ReportConsolidated Statement of Comprehensive IncomeConsolidated Statement of Financial PositionConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to the Financial StatementsSchedule of Investment PropertiesFive-year Financial SummaryGlossary 2415427780909798100101102177178179 2Hong Kong Finance Group LimitedANNUAL REPORT 2025CORPORATE INFORMATIONDIRECTORS AND BOARD COMMITTEESDirectorsExecutive DirectorsChan Koung NamChan Kwong Yin William(Chairman)Tse Pui To(Chief Executive Officer)Chan Siu ChingIndependent Non-executive DirectorsChu Yat Pang TerryCheung Kok CheongWong Kai ManBOARD COMMITTEESAudit CommitteeChu Yat Pang Terry(Chairman)Cheung Kok CheongWong Kai ManRemuneration CommitteeChu Yat Pang Terry(Chairman)Chan Koung NamCheung Kok CheongNomination CommitteeChan Kwong Yin William(Chairman)Chu Yat Pang TerryCheung Kok CheongCOMPANY SECRETARYHui Chun Ho EricREGISTERED OFFICECricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman IslandsHEADQUARTERS ANDPRINCIPAL PLACE OF BUSINESSUnit 3410, 34th Floor,Tower II Lippo Centre89 QueenswayAdmiraltyHong Kong Wong Kai ManWong Kai ManCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands89343410 CORPORATE INFORMATIONPRINCIPAL BANKERSDBS Bank (Hong Kong) LimitedBank of China (Hong Kong) LimitedLEGAL ADVISORSAs to Hong Kong law:Cheung & Choy Solicitors & NotariesAs to Cayman Islands law:Conyers Dill & Pearman (Cayman) LimitedAUDITORPricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity AuditorPRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE IN CAYMAN ISLANDSConyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman IslandsBRANCH SHARE REGISTRAR ANDTRANSFER OFFICE IN HONG KONGUnion Registrars LimitedSuites 3301-04, 33/F.Two Chinachem Exchange Square338 King’s RoadNorth Point, Hong KongSTOCK CODE1273COMPANY’S WEBSITEwww.hkfinance.hk Conyers Dill & Pearman (Cayman) LimitedConyers Trust Company (Cayman) LimitedCricket Square, Hutchins DriveP.O. Box 2681Grand Cayman, KY1-1111Cayman Islands3382333301-041273www.hkfinance.hk 2025 4Hong Kong Finance Group LimitedANNUAL REPORT 2025MANAGEMENT DISCUSSION AND ANALYSISBUSINESS REVIEW AND INDUSTRY OVERVIEWOur Group primarily operates in the money lending sector, specialising inproviding loans to property owners in Hong Kong under the MLO. Our corebusiness revolves in secured property mortgage loans. We also diversify ourservices by providing unsecured property owner loans products to propertyowners, aiming to expand our presence in various money lending marketsegments and enhance our overall interest margin. We offer our loan productsunder our widely recognised brand name “Hong Kong Finance”.During the current year, the economic landscape was marked by significantchallenges and complexities. Although the Hong Kong Government hasfully removed property market cooling measures, the anticipated stimulativeeffects on property prices and transaction volumes have yet to materialize.Both the local residential and commercial property markets have remainedstagnant, with prices and trading volumes persisting at low levels. Despitea decline in global interest rates during the second half of the financialyear, rates remained relatively high, thereby dampening investment andconsumption demand worldwide. Additionally, the new U.S. presidentthreatening to impose further trade tariffs have contributed to heightenedinstability in the global market. These adverse conditions have hinderedmarket recovery, resulting in persistently weak property sentiment and nosignificant improvement in prices or transaction volumes throughout thecurrent year.In light of these prevailing economic uncertainties and substantial challengesencountered, we have consistently adhered to prudent and cautiousstrategies in our operational endeavours. These strategies encompassedthe enforcement of rigorous credit policies, the maintenance of stringentcontrol over loan-to-value ratios, and the implementation of various measuresaimed at safeguarding the quality of our loan portfolio and fostering stableinterest income throughout the current year. Vigilant oversight of customercreditworthiness and repayment capabilities has been a focal point,prompting swift action to recall loans from individuals identified as posingheightened default risks.As a result, our Group’s overall financial performance was steady during thecurrent year, achieving our Group’s interest income of HK$156.3 million (2024:HK$158.9 million), and incurring provision for impairment of loans and interestreceivables and repossessed assets of HK$12.5 million (2024: HK$18.0million). Our profit attributable to our shareholders reached to HK$46.2 million(2024: