XML 26 R6.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
HKD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
HKD ($)
Dec. 31, 2019
HKD ($)
Cash flows from operating activities        
Net income $ 2,810,210 $ 360,302 $ 1,325,523 $ 165,664
Adjustments for:        
Depreciation and amortization 36,436 4,672 27,231 16,547
Expected credit loss expenses 3,200 410 9,075  
Share of loss from equity method investments     307 543
Impairment from equity method investments     5,888  
Foreign exchange losses/(gains) (138,234) (17,723) 11,493 7,539
Share-based compensation 98,913 12,682 32,573 15,967
Realized gain from short-term investments     (665) (707)
Fair value gain from short-term investments (26) (3)    
Deferred income tax benefit (21,431) (2,748) (13,146) (1,576)
Amortization of right-of-use assets 83,695 10,731 52,548 49,553
Changes in operating assets:        
Net increase in securities purchased under agreements to resell (106,203) (13,616)    
Net increase in loans and advances (10,765,123) (1,380,215) (14,645,752) (1,101,785)
Net increase in accounts receivable from clients and brokers (1,847,898) (236,922) (5,042,241) (927,260)
Net increase in accounts receivable from clearing organizations (717,193) (91,953) (939,848) (128,125)
Net (increase)/decrease in accounts receivable from fund management companies and fund distributors 225,282 28,884 (297,622)  
Net decrease/(increase) in interest receivable (30,953) (3,969) (2,984) 32,535
Net (increase)/decrease in prepaid assets (6,653) (853) 1,048 (3,660)
Net decrease/(increase) in other assets (105,145) (13,484) (156,222) 20,860
Changes in operating liabilities:        
Net increase/(decrease) in amounts due to related parties (37,983) (4,870) 83,429 25,037
Net increase in accounts payable to clients and brokers 16,130,249 2,068,087 33,673,301 3,697,534
Net increase in accounts payable to clearing organizations 69,516 8,913 324,266  
Net increase/(decrease) in accounts payable to fund management companies and fund distributors (70,752) (9,071) 101,061 26,381
Net increase in payroll and welfare payable 213,981 27,435 217,200 33,990
Net (decrease)/increase in interest payable 9,866 1,265 4,974 (1,886)
Net decrease in operating lease liabilities (79,544) (10,199) (38,077) (38,704)
Net increase/(decrease) in securities sold under agreements to repurchase (985,176) (126,311) 5,451,447 1,590
Net increase in other liabilities 1,242,937 159,359 271,910 79,397
Net cash generated from operating activities 6,011,971 770,803 20,456,717 1,969,434
Cash flows from investing activities        
Proceeds from disposal of property and equipment and intangible assets       9
Purchase of property and equipment and intangible assets (70,456) (9,033) (44,649) (118,341)
Purchase of short-term investments (1,169,715) (149,971) (206,793) (285,784)
Proceeds from disposal of short-term investments     306,602 250,061
Realized gain received from short-term investments     665 707
Acquisition of long-term investments (23,394) (2,999) 0 (6,709)
Placement of term deposits     (300,000)  
Maturity of term deposits 300,000 38,464    
Net cash used in investing activities (963,565) (123,539) (244,175) (160,057)
Cash flows from financing activities        
Proceeds from public offering, net of issuance costs 10,856,524 1,391,933 2,339,718 1,259,317
Proceeds from exercise of employee share options 23,492 3,012 16,842 969
Proceeds from issuance of Pre-Funded warrants     2,035,104  
Purchase of treasury stock (1,178,755) (151,130)    
IPO loan borrowings (net) (300,199) (38,489) 300,199  
Proceeds from other borrowings 53,483,435 6,857,202 23,808,006 6,764,524
Repayment of other borrowings (52,313,417) (6,707,192) (20,092,973) (6,873,188)
Payment of other financing expenses (16,862) (2,162)    
Net cash generated from financing activities 10,554,218 1,353,174 8,406,896 1,151,622
Effect of exchange rate changes on cash, cash equivalents and restricted cash 167,130 21,428 (1,117) (44,666)
Net increase in cash, cash equivalents and restricted cash 15,769,754 2,021,866 28,618,321 2,916,333
Cash, cash equivalents and restricted cash at beginning of the year 43,521,758 5,579,999 14,903,437 11,987,104
Cash, cash equivalents and restricted cash at end of the year 59,291,512 7,601,865 43,521,758 14,903,437
Cash, cash equivalents and restricted cash        
Cash and cash equivalents 4,555,096   1,034,668 362,574
Cash held on behalf of clients 54,734,351   42,487,090 14,540,863
Restricted cash 2,065      
Cash, cash equivalents and restricted cash at end of the year 59,291,512   43,521,758 14,903,437
Non-cash financing activities        
Accretion to preferred shares redemption value       12,309
Supplemental disclosure        
Interest paid (367,036) (47,058) (181,706) (89,238)
Income tax paid (102,890) (13,192) (16,250) (15,117)
Cash paid for amounts include in operating lease liabilities $ (89,427) $ (11,466) $ (58,686) $ (50,629)