Gelonghui Capital (00804.HK) announced on March 25, that for the year ended December 31, 2023, the total revenue of the Group was approximately HK$20.5 million, an increase of about 4% over HK$19.5 million in 2022. This increase was due to an increase in commission income from securities brokerage services, which was partially offset by a decrease in income from securities mortgage lending services. Commission income from securities brokerage services increased to approximately HK$1.3 million in 2023, compared to HK$200,000 on 31 December 2022. Income from securities mortgage lending services decreased to HK$18.7 million, a decrease of about 3% compared to approximately HK$19.2 million in 2022. The Group recorded revenue of approximately HK$87,000 in placement and underwriting services, but no revenue was recorded in 2022.
For the year ended 31 December 2023, the loss before income tax was reduced to approximately HK$23.5 million, while the loss before income tax was approximately HK$48.3 million in 2022. The net loss for the year ended 31 December 2023 was HK$24.4 million, compared to a net loss of HK$41.5 million in 2022. The loss was mainly due to an impairment loss of approximately HK$28,000,000 on trade receivables and loans receivable from securities mortgage lending services in 2023 (2022: HK$49,600,000).
The basic loss per share for the year ended 31 December 2023 was HK7.08 cents, while the basic loss per share was HK16.51 cents (as restated) for the year ended 31 December 2022.