XML 30 R6.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
HKD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
HKD ($)
Dec. 31, 2020
HKD ($)
Cash flows from operating activities        
Net income $ 2,926,893 $ 375,171 $ 2,810,210 $ 1,325,523
Adjustments for:        
Depreciation and amortization 54,714 7,013 36,436 27,231
Expected credit loss expenses 15,619 2,002 3,200 9,075
Share of loss from equity method investments 17,752 2,275   307
Impairment from other non-current assets 77,217 9,898 0 5,888
Foreign exchange losses/(gains) 133,124 17,064 (138,234) 11,493
Share-based compensation 204,529 26,217 98,913 32,573
Realized gain from short-term investments (23,059) (2,956)   (665)
Fair value gain (1,728) (221) (26)  
Deferred income tax benefit (52,112) (6,680) (21,431) (13,146)
Amortisation of right-of-use assets 94,933 12,169 83,695 52,548
Changes in operating assets:        
Net (increase)/decrease in securities purchased under agreements to resell 74,203 9,511 (106,203)  
Net (increase)/decrease in loans and advances 2,858,601 366,417 (10,765,123) (14,645,752)
Net (increase)/decrease in accounts receivable from clients and brokers 1,936,445 248,214 (1,847,898) (5,042,241)
Net increase in accounts receivable from clearing organizations (1,101,912) (141,244) (717,193) (939,848)
Net (increase)/decrease in accounts receivable from fund management companies and fund distributors (6,746) (865) 225,282 (297,622)
Net increase in interest receivable (199,714) (25,599) (30,953) (2,984)
Net decrease/(increase) in prepaid assets (8,904) (1,141) (6,653) 1,048
Net increase in other assets (445,903) (57,156) (105,145) (156,222)
Changes in operating liabilities:        
Net increase/(decrease) in amounts due to related parties 3,690 473 (37,983) 83,429
Net increase in accounts payable to clients and brokers 2,297,647 294,513 16,130,249 33,673,301
Net increase/(decrease) in accounts payable to clearing organizations (341,915) (43,827) 69,516 324,266
Net increase/(decrease) in accounts payable to fund management companies and fund distributors 34,111 4,372 (70,752) 101,061
Net increase in payroll and welfare payable 337,237 43,227 213,981 217,200
Net increase/(decrease) in interest payable (5,495) (704) 9,866 4,974
Net decrease in operating lease liabilities (93,093) (11,933) (79,544) (38,077)
Net increase/(decrease) in securities sold under agreements to repurchase (4,467,861) (572,693) (985,176) 5,451,447
Net increase/(decrease) in other liabilities (843,342) (108,100) 1,242,937 271,910
Net cash generated from operating activities 3,474,931 445,417 6,011,971 20,456,717
Cash flows from investing activities        
Purchase of property and equipment and intangible assets (90,520) (11,603) (70,456) (44,649)
Purchase of short-term investments (4,061,490) (520,604) (1,169,715) (206,793)
Proceeds from disposal of short-term investments 4,590,834 588,455   307,267
Acquisition of long-term investments (235,434) (30,178) (23,394)  
Placement of term deposit       (300,000)
Maturity of term deposit     300,000  
Cash paid for acquisitions, net of cash acquired (109,531) (14,040)    
Net cash used in/generated from investing activities 93,859 12,030 (963,565) (244,175)
Cash flows from financing activities        
Proceeds from public offering, net of issuance costs     10,856,524 2,339,718
Proceeds from exercise of employee share options 16,332 2,093 23,492 16,842
Proceeds from issuance of pre-funded warrants       2,035,104
Purchase of treasury stocks (3,145,810) (403,231) (1,178,755)  
IPO loan borrowings (net)     (300,199) 300,199
Proceeds from other borrowings 70,806,177 9,075,971 53,483,435 23,808,006
Repayment of other borrowings (74,686,220) (9,573,314) (52,313,417) (20,092,973)
Payment of other financing expenses     (16,862)  
Net cash generated from/used in financing activities (7,009,521) (898,481) 10,554,218 8,406,896
Effect of exchange rate changes on cash, cash equivalents and restricted cash (135,196) (17,329) 167,130 (1,117)
Net increase/(decrease) in cash, cash equivalents and restricted cash (3,575,927) (458,363) 15,769,754 28,618,321
Cash, cash equivalents and restricted cash at beginning of the year 59,291,512 7,600,014 43,521,758 14,903,437
Cash, cash equivalents and restricted cash at end of the year 55,715,585 7,141,651 59,291,512 43,521,758
Cash, cash equivalents and restricted cash        
Cash and cash equivalents 5,028,898   4,555,096 1,034,668
Cash held on behalf of clients 50,685,472   54,734,351 42,487,090
Restricted cash 1,215   2,065  
Cash, cash equivalents and restricted cash at end of the year 55,715,585   59,291,512 43,521,758
Supplemental disclosure        
Interest paid (297,998) (38,198) (367,036) (181,706)
Income tax paid (694,973) (89,082) (102,890) (16,250)
Cash paid for amounts include in operating lease liabilities $ (106,497) $ (13,651) $ (89,427) $ (58,686)