v3.25.1
Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2024
HKD ($)
Dec. 31, 2023
HKD ($)
Dec. 31, 2022
HKD ($)
Cash flows from operating activities        
Net loss $ (710) $ (5,523,000) $ (6,014,000) $ (944,000)
Adjustment:        
Depreciation 45 350,000 8,000 33,000
Provision for (reversal of) allowance for expected credit losses (181) (1,403,000) 10,944,000
Changes in operating assets and liabilities:        
Loans to customers 2,575 20,003,000 11,104,000 15,369,000
Receivables from customers and broker-dealers 1,355 10,525,000 (7,812,000) (790,000)
Prepaid expenses and other current assets 32 248,000 (26,000) 43,000
Income taxes recoverable (89) (692,000)
Deferred tax assets (126) (982,000) (1,791,000) 15,000
Refundable deposits (28) (218,000)
Payables to customers and clearing organizations (3,927) (30,501,000) 5,670,000 27,463,000
Repayment to related parties       (150,000)
Accruals and other current liabilities 158 1,228,000 (831,000) (2,828,000)
Accrued commission expenses 5 42,000 (1,714,000) 2,999,000
Income taxes payable (150) (1,165,000) 664,000 (5,258,000)
Cash provided by (used in) operating activities (1,041) (8,088,000) 10,202,000 35,952,000
Cash flows from investing activities        
Purchase of property and equipment (167) (1,300,000) (19,000)
Cash flows used in investing activities (167) (1,300,000) (19,000)
Cash flows from financing activities        
Deferred IPO cost (135) (1,052,000) (161,000) (4,089,000)
(Advance to) repayment from a related party 64 494,000 (7,013,000) (1,114,000)
Cash used in financing activities (71) (558,000) (7,174,000) (5,203,000)
Net change in cash, cash equivalents and cash segregated for regulatory purpose (1,279) (9,946,000) 3,009,000 30,749,000
Cash, cash equivalents and cash segregated for regulatory purpose at beginning of the year   50,533,000 47,524,000 16,775,000
Cash, cash equivalents and cash segregated for regulatory purpose at beginning of the year 6,504      
Cash and cash equivalents and cash segregated for regulatory purpose at the end of the year   40,587,000 50,533,000 47,524,000
Cash and cash equivalents and cash segregated for regulatory purpose at the end of the year 5,225      
Supplementary cash flows information        
Cash paid for income taxes (222) (1,727,000) (69,000) (5,553,000)
Supplemental schedule of non-cash investing and financing activities:        
Dividends made through reduction in amount due from the shareholder (13,322,000) (24,451,000)
Initial recognition of lease obligations related to right-of-use assets 284 2,208,000
Reconciliation to amounts on consolidated balance sheets:        
Cash and cash equivalents 3,942 30,618,000 12,048,000 12,694,000
Cash segregated for regulatory purpose 1,283 9,969,000 38,485,000 34,830,000
Total cash, cash equivalents and cash segregated for regulatory purpose $ 5,225 $ 40,587,000 $ 50,533,000 $ 47,524,000