Zhitong Finance App News, Bank of Hong Kong Holdings (08162) announced that the Group's two main businesses, namely the metals business and the education management service business, were on the right track as of December 31, 2023 (2023). Performance continued to grow, and showed a good sustainable development trend.

According to information currently held by the board of directors, as of fiscal year 2023, the Group has sold about 7.29 million tons of metal, and the sales contract amount has exceeded HK$10 billion, or HK$10.707 billion. Compared with the revenue of the metals business of about HK$34.5 million as of December 31, 2022 (2022), there was a significant increase of about 30934% (an increase of about 309 times), and the scale of revenue showed a significant increase. Furthermore, in 2023, the Group is confident that the metals business will be able to achieve net profit on its own, laying a solid foundation for further sustainable development.

The main reason for the increase in sales contract amounts in the metals business is, on the one hand, continuing the trend of the Group's metals business recovering in 2023 when global trade is gradually normalized and restored. On the other hand, it successfully broadened the product range and increased international trade in the metals business based on the Group's long-term layout accumulation. In 2023, the Group has successfully established stable business relationships with a number of large state-owned enterprises, large integrated key enterprises and international enterprises in mainland China. The number of customers in the metal business has increased from 4 in 2022 to 9 in 2023, and 1 more customer in January 2024. Currently, the total number of customers has reached 10, and is expected to continue to increase. As a result of these efforts, the Group's metals business achieved substantial improvements and growth in 2023.

In January 2024 alone, the Group has completed a metal sales contract worth no less than HK$2 billion.

The Group's metal business scope is commodity trading in commodities. The main products include London Metal Exchange delivery products, standard metals and metal parts such as copper, aluminum, nickel, etc., and commodities such as copper concentrate, iron ore, nickel, etc.

According to the information currently available to the Board of Directors, the Group expects the revenue of the education management services business to be around HK$33.7 million in 2023. Compared with the 2022 revenue of the education management services business of about HK$13.8 million, this is a significant increase of about 144% (an increase of about 1.44 times). The main reason for the increase in revenue is that in 2023, as domestic education and teaching and extracurricular courses and activities for students gradually return to normal in mainland China, the Group was able to grasp the increase in demand and maintain the stability and sustainable development of the education management service business.

The Group's education management service business is mainly dedicated to providing comprehensive education management and consulting services to various educational institutions in Chengdu, Sichuan Province, China, focusing on arts, sports and humanities quality education management services. In 2023, 9 customers in the education management service business include: 4 arts and sports education and training institutions, 2 kindergartens, 2 humanistic quality nature experience education providers, and 1 educational textbook and book dealer. In the fourth quarter of 2023, the Group added a new humanistic quality nature experience education provider customer.

Furthermore, trading continues to be suspended.