v3.25.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION

 

3. SEGMENT INFORMATION

 

The Company has two reportable segments: securities related services and asset management services. Segments were identified based on the Company’s internal reporting and how the chief operating decision maker (“CODM”) assesses the performance of the business. The CODM of the Company is the Chief Executive Officer. The securities related services segment generated commission by offering securities dealing and brokerage services, securities underwriting and placing services and other financing services. The asset management services segment generated asset management fee by providing asset management services and investment advisory services. All assets of the Company are located in Hong Kong and all revenues are generated in Hong Kong.

 

Key financial performance measures of the segments are as follows:

 

Year ended December 31, 2022

 

  

Securities

related

services

segment

  

Asset

management

services

segment

   Corporate   Total 
   HKD’000   HKD’000   HKD’000   HKD’000 
Revenues:                    
Revenues – excluding interest income   5,688    6,599    -    12,287 
Revenues – interest income   6,990    -    -    6,990 
Total revenues   12,678    6,599    -    19,277 
                     
Expenses:                    
Compensation and benefits   -    -    (8,732)   (8,732)
Commission expense   (458)   (3,522)   -    (3,980)
Lease expense   -    -    (1,398)   (1,398)
Legal and professional fee   (1,045)   (27)   (1,637)   (2,709)
Other general and administrative   (3,016)   (418)   (61)   (3,495)
Total expenses   (4,519)   (3,967)   (11,828)   (20,314)
                     
Other income – interest income   17    -    -    17 
Other income   364    44    -    408 
Total other income   381    44    -    425 
                     
Income (loss) before income taxes   8,540    2,676    (11,828)   (612)
                     
Total assets   107,613    9,464    6,337    123,414 
Total liabilities   (37,634)   (3,356)   (2,346)   (43,336)
                     
Net assets   69,979    6,108    3,991    80,078 

 

 

PLUTUS FINANCIAL GROUP LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

Year ended December 31, 2023

 

  

Securities

related

services

segment

  

Asset

management

services

segment

   Corporate   Total 
   HKD’000   HKD’000   HKD’000   HKD’000 
                 
Revenues:                    
Revenues – excluding interest income   12,011    3,947    -    15,958 
Revenues – interest income   5,981    -    -    5,981 
Total revenues   17,992    3,947    -    21,939 
                     
Expenses:                    
Compensation and benefits   -    -    (7,550)   (7,550)
Commission expense   (42)   (1,995)        (2,037)
Advertising and marketing   -    -    (2,254)   (2,254)
Lease expense   -    -    (1,261)   (1,261)
Legal and professional fee   (1,703)   (413)   (240)   (2,356)
Provision for allowance of expected credit losses on loans to customers   (10,944)   -    -    (10,944)
Other general and administrative   (2,439)   (291)   (86)   (2,816)
Total expenses   (15,128)   (2,699)   (11,391)   (29,218)
                     
Other income – interest income   164    4    -    168 
Other income   39    -    -    39 
Total other income   203    4    -    207 
                     
Income (loss) before income taxes   3,067    1,252    (11,391)   (7,072)
                     
Total assets   92,313    8,604    5,727    106,644 
Total liabilities   (41,654)   (1,993)   (2,255)   (45,902)
                     
Net assets   50,659    6,611    3,472    60,742 

 

Year ended December 31, 2024

 

  

Securities

related

services

segment

  

Asset

management

services

segment

   Corporate   Total   Total 
   HKD’000   HKD’000   HKD’000   HKD’000   US$’000 
Revenues:                         
Revenues – excluding interest income   2,494    4,195    -    6,689    861 
Revenues – interest income   3,059    -    -    3,059    394 
Total revenues   5,553    4,195    -    9,748    1,255 
                          
Expenses:                         
Compensation and benefits   -    -    (8,633)   (8,633)   (1,111)
Commission expense   (36)   (2,502)   -    (2,538)   (327)
Advertising and marketing   

-

    

-

    (608)   (608)   (78)
Lease expense   -    -    (1,250)   (1,250)   (161)
Legal and professional fee   (1,610)   (152)   (315)   (2,077)   (267)
Reversal of (provision for) allowance of expected credit losses on loans to customers   1,427    (24)   -    1,403    181 
Other general and administrative   (2,938)   (282)   (57)   (3,277)   (422)
Total expenses   (3,157)   (2,960)   (10,863)   (16,980)   (2,185)
                          
Other income – interest income   475    18    -    493    63 
Other income   103    -    -    103    13 
Total other income   578    18    -    596    76 
                          
Income (loss) before income taxes   2,974    1,253    (10,863)   (6,636)   (854)
                          
Total assets   54,106    8,308    9,315    71,729    9,232 
Total liabilities   (12,259)   (2,125)   (2,126)   (16,510)   (2,124)
                          
Net assets   41,847    6,183    7,189    55,219    7,108 

 

 

PLUTUS FINANCIAL GROUP LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS