K Cash (2483) H2 2024 earnings summary

Executive summary

• FY2024 interest income rose to HK$281.6m from HK$248.7m; profit increased to HK$63.8m from HK$51.6m. Basic and diluted EPS was HK12.75 cents vs HK13.42 cents.

• Loan receivables, net of impairment provisions, reached HK$1,232.4m at 31 Dec 2024 vs HK$964.4m a year earlier.

Financial highlights

• Net interest income was HK$250.6m vs HK$223.6m; operating profit HK$75.2m vs HK$67.2m; profit before tax HK$74.0m vs HK$66.7m.

• Net expected credit losses were HK$77.4m vs HK$55.8m; income tax expense was HK$10.3m vs HK$15.2m.

• Cash and cash equivalents were HK$116.4m at year-end vs HK$218.4m; total equity was HK$917.6m vs HK$880.9m.

Outlook and guidance

• 2025 plans include upgrading AI-based credit models for more precise risk-based pricing and exploring generative AI across departments to improve process efficiency.

• Growth plans rely on expanding funding sources and loan portfolio, while fintech development aims to make lending more efficient and accessible.