泛海國際集團有限公司 2021 中期報告 股份代號 : 129 | --- | --- | --- | --- | --- | --- | |-------|---------|-------------------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | 目錄 | | | | | | | | | | | | | | | | | | | | 2 | 公司資料 | | | | | | 3 | 財務摘要 | | | | | | 4 | 管理層討論及分析 | | | | | | 10 | 簡明綜合損益賬 – 未經審核 | | | | | | 11 | 簡明綜合全面收益表 – 未經審核 | | | | | | 12 | 簡明綜合資產負債表 – 未經審核 | | | | | | 14 15 | 簡明綜合現金流量表 – 未經審核 簡明綜合權益變動報表 – 未經審核 | | | | | | 16 | 中期財務資料附註 | | ...

Financial Performance - Total revenue for the year ended March 31, 2021, was HKD 2,459 million, an increase of 4% compared to HKD 2,375 million in 2020[9] - Operating profit rose to HKD 1,912 million, reflecting a significant increase of 29% from HKD 1,480 million in the previous year[9] - Profit attributable to shareholders surged by 86% to HKD 1,353 million, up from HKD 728 million in 2020[9] - Basic earnings per share increased by 87% to HKD 1.03, compared to HKD 0.55 in the prior year[9] - Gross profit for the same period was HKD 2,394 million, up from HKD 2,132 million, reflecting a significant increase of 12.3%[53] Asset and Liability Management - Total assets increased by 11% to HKD 42,320 million, up from HKD 38,235 million in 2020[9] - Net assets rose by 20% to HKD 22,617 million, compared to HKD 18,851 million in the previous year[9] - The net debt decreased by 11% to HKD 15,348 million, down from HKD 17,269 million in 2020[9] - The asset-liability ratio improved to 49%, down from 62% in 2020, indicating a stronger financial position[9] - The company's total liabilities were HKD 19,703 million, slightly up from HKD 19,384 million, indicating a 1.6% increase[53] Property Development and Investment - The property development business showed encouraging performance, with 50% of the units sold in the "Royal Peak" project in Jardine's Lookout by the end of March 2021[20] - The company is focusing on investment opportunities in prime locations in Hong Kong and first-tier cities in China to enhance its reputation and track record in property development[14] - The company plans to launch the residential development project in Hong Kong's Hung Shui Kiu in the second half of 2022[20] - The Beijing Tongzhou residential development project is expected to be completed in the second half of 2022[20] - The group is actively pursuing land exchange applications for various development projects, including a residential project in Tuen Mun[25] Hotel and Tourism Business - The rental income decreased by 10% over the past year, while the hotel business faced significant setbacks due to the pandemic[20] - Hotel and tourism business revenue dropped 87% to HKD 37 million, with visitor numbers to Hong Kong decreasing by over 99% due to COVID-19[30] - The management anticipates a recovery in the hotel business contingent on the successful lifting of inbound travel restrictions, with positive sales performance in joint venture projects in Beijing and Shanghai[39] Environmental and Sustainability Efforts - The company is committed to implementing environmentally friendly measures in property development, aiming for green building certification[65] - The hotel division has initiated various eco-friendly practices, including a program to reduce linen changes to save water[67] - Direct and indirect energy consumption decreased from 19,185 ('000 kWh) in 2020 to 15,587 ('000 kWh) in 2021, representing a reduction of approximately 18%[64] - Fuel consumption also saw a significant decline from 5,211 ('000 MJ) in 2020 to 2,838 ('000 MJ) in 2021, a decrease of about 45%[64] Corporate Governance - The board of directors consists of six executive directors and three independent non-executive directors, ensuring a diverse governance structure[94] - The company has a clear governance policy, focusing on transparency, accountability, and fairness in its operations[93] - The audit committee, chaired by independent non-executive director Mr. Kan Po Ming, reviewed the group's financial reporting procedures and risk management systems, holding two meetings during the year[102] - The company has adopted the standard code for securities trading by directors, confirming compliance for the fiscal year ending March 31, 2021[103] Community Engagement and Social Responsibility - The company donated a total of HKD 260,000 to various charitable organizations during the reporting year[90] - The "Art Child Care" community care program, established in 2009, has been recognized for its contributions to social care, receiving the "10 Years + Business Care" award in 2019[89] - The company suspended its collaboration with the Hong Kong Society for Rehabilitation due to COVID-19 but continued to support them by donating anti-epidemic supplies[89] Future Outlook and Strategic Initiatives - The company is investing $H million in R&D for new technologies aimed at improving service delivery and customer satisfaction[140] - Recent acquisitions are expected to enhance operational efficiency, projected to save the company $G million annually[140] - The management team expressed confidence in achieving long-term growth targets, with a focus on sustainable practices and innovation[140]

2S 泛海國際集團有限公司 2020中期報告 股份代號 : 129 Other Information | --- | --- | --- | --- | --- | |-------|--------------------------|--------------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 目錄 | | | | | | | | | | | 2 | 公司資料 | | | | | 3 | 財務摘要 | | | | | 4 | 管理層討論及分析 | | | | | 10 | 中期財務資料審閱報告 | | | | | 11 | 簡明綜合損 ...

Financial Performance - The company reported a revenue of HKD 2,375 million for the year ending March 31, 2020, representing an 8% increase from HKD 2,207 million in 2019[7] - Operating profit decreased by 22% to HKD 1,480 million, down from HKD 1,900 million in the previous year[7] - Profit attributable to shareholders fell by 48% to HKD 728 million, compared to HKD 1,389 million in 2019[7] - Basic earnings per share decreased by 48% to HKD 0.55 from HKD 1.05 in the prior year[7] - Total assets increased by 1% to HKD 38,235 million, up from HKD 37,913 million[7] - The group recorded revenue of HKD 2,375,000,000 for the fiscal year, an increase of 8% compared to HKD 2,207,000,000 in the previous year[21] - Shareholders' profit attributable to the company was HKD 728,000,000, down from HKD 1,389,000,000 in the previous year due to investment property revaluation losses[21] - Revenue for the year ended March 31, 2020, was HKD 2,375 million, an increase of 7.6% from HKD 2,207 million in 2019[50] - Gross profit for the same period was HKD 2,132 million, up from HKD 1,919 million, reflecting a growth of 11.1%[50] - Total liabilities rose to HKD 19,384 million from HKD 17,481 million, an increase of 10.9%[50] Asset Management - Total assets increased to HKD 38,235 million from HKD 37,913 million, a growth of 0.8%[50] - The group's total assets were approximately HKD 38.2 billion, with net assets valued at HKD 18.9 billion, down from HKD 20.4 billion in the previous year[35] - The group's revalued total assets were approximately HKD 47.1 billion, down from HKD 47.3 billion in the previous year[35] - The net asset value after revaluation was HKD 27,734 million, a decrease from HKD 29,784 million[50] - As of March 31, 2020, the group's net property assets amounted to HKD 17.9 billion, an increase from HKD 16.5 billion in 2019[39] Investment and Sales - The company achieved over HKD 1 billion in contracted sales for the "皇第" project in Hong Kong by the end of May 2020[11] - The group achieved contract sales of approximately RMB 1.7 billion for the residential project in Beijing Tongzhou, with pre-sales starting in July 2019[25] - The group reported contract sales of approximately RMB 900 million for the final phase of the high-end villa and apartment project in Shanghai, with over 90% sold[25] - The investment portfolio's income rose to HKD 1.82 billion from HKD 1.42 billion, attributed to further debt securities investments[34] - The group anticipates strong sales performance in its Beijing and Shanghai projects as the mainland property market stabilizes[39] Financial Position and Liquidity - The company is in a strong financial position with sufficient liquidity to seize potential development and investment opportunities[12] - Net debt increased to HKD 17.3 billion from HKD 15.7 billion, resulting in a net debt to revalued net asset ratio of approximately 62%[36] - Cash and undrawn bank financing exceeded HKD 6 billion, down from HKD 7.3 billion in the previous year[35] - The group maintains a robust financial position with a strong liquidity status and prudent financial management policies to manage risks[17] Corporate Governance - The board consists of six executive directors and three independent non-executive directors, with the chairman and CEO being different individuals[97] - The board held three meetings during the year, with all directors attending 100% of the meetings[101] - The audit committee, composed entirely of independent non-executive directors, held two meetings to review the financial reporting processes and internal controls[106] - The company confirmed compliance with the standard code for securities trading by all directors during the fiscal year[108] - The board has a diversity policy that considers various factors such as gender, age, and industry experience when evaluating its composition[102] Social Responsibility and Compliance - The company provided a total of HKD 1,220,000 in donations to various charitable organizations during the reporting year[92] - The company has complied with all relevant laws and regulations regarding health and safety, with no significant violations reported during the year[82] - The company has established compliance procedures to ensure adherence to applicable laws and regulations, with no reported cases of corruption or bribery[85] - The company has received recognition for its ongoing contributions to social responsibility, including the "10 Years + Business Caring Award" from the Hong Kong Council of Social Service[92] Operational Challenges - Overnight visitors to Hong Kong decreased by 42.5% to approximately 17.3 million, with mainland visitors dropping by 43%[32] - Hotel revenue fell by 45% to HKD 297 million, down from HKD 543 million in the previous year, with an average occupancy rate of 61% compared to 93% in the prior year[32] - The group took measures to reduce operating costs and delay capital expenditure plans in response to the pandemic[32] Employee Management - The group employed about 240 employees as of March 31, 2020, down from 350 in 2019[39] - The company offers educational assistance for employees to participate in external professional courses[73] - The company has provided comprehensive training for new employees on workplace safety procedures[72] Environmental Initiatives - The company has implemented energy-saving measures and upgraded equipment to enhance efficiency and reduce emissions[62] - The total amount of non-hazardous waste generated was 1,843 tons, significantly reduced from 4,749 tons in the previous year[58] - The company has a commitment to environmental procurement by prioritizing organic and sustainably sourced products[76] Shareholder Engagement - The company has a process for shareholders to propose resolutions at the annual general meeting, requiring a minimum of 1/20 of the total voting rights or at least 100 shareholders to submit a request[122] - The company is committed to providing fair market compensation to attract and retain high-quality employees[106] - The company’s website provides timely information for shareholders, investors, and the public[133]

Financial Performance - The company reported revenue of HKD 1,260 million for the six months ended September 30, 2019, representing a 22% increase from HKD 1,031 million in 2018[9]. - Shareholders' profit attributable to the company decreased by 30% to HKD 635 million, down from HKD 909 million in the previous year[9]. - The operating profit for the period was HKD 1,036 million, a decline of 6% compared to HKD 1,103 million in 2018[9]. - The net profit for the period was HKD 679.4 million, a decrease from HKD 931.5 million in the previous year, representing a decline of approximately 27%[45]. - The basic earnings per share for the period was HKD 0.48, down from HKD 0.69 in the previous year, indicating a decrease of about 30.4%[45]. - The company's profit for the six months ended September 30, 2019, was HKD 679,376,000, a decrease of 27% compared to HKD 931,464,000 in 2018[12]. - The total comprehensive income for the period was HKD 679,376,000, down from HKD 931,464,000 in the previous year, reflecting a decline of approximately 27%[59]. - The company reported a net loss of HKD 82,678,000 for the period, compared to a loss of HKD 35,087,000 in 2018, indicating a worsening of 135.0%[106]. Assets and Liabilities - The total asset value as of September 30, 2019, was HKD 37,329 million, reflecting a 2% decrease from HKD 37,913 million[9]. - The group's total assets were approximately HKD 37.3 billion, with net assets remaining stable at HKD 20.4 billion[27]. - The company's total assets pledged to banks as collateral for financing amounted to HKD 16.4 billion as of September 30, 2019, slightly down from HKD 16.5 billion on March 31, 2019[31]. - The company's total liabilities decreased to 9,534,092 thousand HKD as of September 30, 2019, from 10,000,000 thousand HKD as of March 31, 2019[184]. - The company’s total equity decreased slightly to HKD 20,358,237,000 from HKD 20,431,837,000 as of March 31, 2019[52]. - The company reported a total equity of 19,609,751 thousand HKD, a decrease from 19,677,761 thousand HKD as of March 31, 2019[176]. Investment Activities - The company plans to continue investing in debt securities to enhance investment income[14]. - The company achieved contract sales exceeding RMB 700 million for its residential project in Beijing Tongzhou, with the first phase of pre-sales starting in mid-July 2019[14]. - The group has achieved a contract sales amount of CAD 140 million for the "Landmark on Robson" project, which includes two residential towers with a total floor area of approximately 400,000 square feet[18]. - The company reported a fair value loss of HKD 583,905,000 on financial assets measured at fair value through other comprehensive income as of September 30, 2019[59]. - The company has terminated recognition of 6 debt securities and 4 equity securities during the period, indicating active portfolio management[101]. Market and Operational Insights - The average occupancy rate for Hong Kong hotels decreased to 80%, down from 95% in the previous year, with an average room rate decline of 17%[23]. - The management anticipates continued performance in property sales in Beijing and Shanghai, expecting stability in the mainland property market for the second half of the fiscal year[35]. - The company is adopting a cautious approach in light of the local political events affecting its leasing business, particularly in the retail sector[35]. - The company operates in four main business segments: property sales, property leasing, hotel and tourism, and financial investments[84]. Financial Risks and Management - The company continues to face various financial risks, including market risk, credit risk, and liquidity risk, with no significant changes in overall risk management since the last fiscal year[72]. - The group regularly conducts credit assessments on customers to manage credit risk associated with trade receivables[136]. Employee and Operational Costs - Employee benefits expenses increased to HKD 104,283,000 from HKD 95,765,000, reflecting an increase of 8.0%[110]. - The total cost of sold properties and goods was HKD 3,340,000, a decrease from HKD 6,009,000 in 2018, representing a decline of 44.4%[110]. - The company did not recommend an interim dividend for the six months ended September 30, 2019, consistent with the previous year[120].

98 泛海國際集團有限公司 2019 年報 股份代號 : 129 目錄 25 企業管治報告 34 董事及高級管理層 37 董事會報告書 53 獨立核數師報告 61 綜合損益賬 62 綜合全面收益表 63 綜合資產負債表 65 綜合現金流量表 66 綜合權益變動報表 67 財務報表附註 1 公司資料 2 財務摘要 3 主席報告書 6 業務模式及策略 8 管理層討論及分析 14 主要物業 17 五年財務摘要 18 環境、社會及管治報告 公司資料 2 公司資料 泛海國際集團有限公司 二零一九年年報 | --- | --- | --- | --- | |-------------------------|------------|-----------------------------|--------------------------| | | | | | | 董事 | | 註冊辦事處 | 法律顧問 | | 執行董事 | | Victoria Place, | 羅夏信律師事務所 | | 馮兆滔先生 （主席） | 5th Floor, | | 香港 | | 潘政先生 （董事總經理兼 | | 31 Victoria ...