Financial Performance - For the fiscal year ending March 31, 2022, the group's consolidated revenue was HKD 1,106 million, a decrease from HKD 1,276 million in the previous year[22] - Shareholders' profit attributable to the company was HKD 92 million, down from HKD 122 million in the previous year[22] - Excluding fair value losses on investment properties, the adjusted profit attributable to shareholders would be HKD 172 million, compared to HKD 133 million in the previous year[22] - Basic earnings per share were HKD 0.13, down from HKD 0.17 in the previous year[22] - The revenue from the delivery of the second and third phases of the Yao Yao Oasis project was HKD 633 million for the fiscal year ending March 31, 2022, compared to HKD 957 million in the previous year[34] - The group's revenue decreased by 13% from HKD 1,276,000,000 to HKD 1,106,000,000, with 57.2% from property sales, 39.3% from property leasing, and 3.5% from property and parking management[147] Shareholder Equity and Dividends - As of March 31, 2022, shareholders' equity was HKD 12,264 million, an increase from HKD 11,976 million the previous year[23] - The proposed final dividend for the year ending March 31, 2022, is HKD 0.125 per share, unchanged from the previous year[165] - As of March 31, 2022, the distributable reserves amount to HKD 267,516,000, with HKD 90,054,000 recommended for the final dividend[172] Occupancy Rates and Property Management - The overall occupancy rate of the group's investment properties improved during the year[22] - The average occupancy rate of the Hong Kong City Commercial Center reached 64% as of March 31, 2022, up from 39% in the previous year[36] - The office units in the Shenzhen City Commercial Center had an occupancy rate of 58% as of March 31, 2022, compared to 30% in the previous year[36] - The average occupancy rate of the service apartments in the Shenzhen City Commercial Center remained stable at around 90% despite the impact of COVID-19[40] - The overall average occupancy rate for the integrated buildings in Chongqing was 75% as of March 31, 2022, consistent with the previous year's rate[48] - The average occupancy rate of Chongqing Hanguo Center reached 88% for the fiscal year ending March 31, 2022, consistent with the previous year[49] - The average occupancy rate of the Bao Huan Hotel in Central was approximately 82% for the fiscal year ending March 31, 2022, up from 71% in the previous year[53] - The average occupancy rate of the Bao Huan Hotel in Tsim Sha Tsui was approximately 64% for the fiscal year ending March 31, 2022, slightly down from 66% in the previous year[53] - The average occupancy rate of the Hanguo Jordan Center rose to 88% for the fiscal year ending March 31, 2022, compared to 69% in the previous year[54] Projects and Developments - The Beijing South Road project is expected to be completed in the fiscal year 2023/2024, with residential units planned for pre-sale in 2023[31] - The total floor area of the Beijing South Road project is approximately 77,000 square meters, including a 30-story commercial/residential building and a 32-story commercial/office building[29] - The total floor area of the Yao Yao Oasis project is approximately 273,000 square meters, with the final phase consisting of 19 buildings providing about 550 units[34] - The newly completed data center in Hong Kong has a total floor area of approximately 228,000 square feet and is fully leased to a well-known international data center operator, providing stable rental income[50] Corporate Governance - The company reported a commitment to maintaining high standards of corporate governance and continuously reviewing and improving governance practices[85] - The board of directors held two meetings during the fiscal year, which is below the recommended frequency of at least four meetings per year[92] - The chairman and CEO roles are separated to ensure clear division of responsibilities, with the chairman overseeing the board's functions and overall strategy[94] - The company has adopted a standard code for securities trading by directors, confirming compliance by all directors during the year[86] - The board consists of both executive and independent non-executive directors, ensuring independent opinions on development, performance, and risk management[90] - The company emphasizes the importance of independent non-executive directors, who have confirmed their independence according to listing rules[90] - The company’s governance practices include a requirement for directors to retire and seek re-election at least every three years, although the chairman will not rotate[98] - The company has a structured approach to decision-making, with executive directors responsible for significant corporate decisions and overall business operations[96] - The board is responsible for monitoring the financial performance and internal controls of the group[90] - The company aims to ensure smooth operations through stable leadership by maintaining the chairman's continuous term[98] Risk Management and Market Conditions - The company continues to face risks related to the property market in mainland China, including policy changes and currency fluctuations[159] - The company closely monitors interest rate fluctuations to mitigate risks associated with variable rate borrowings[161] - The company has established procedures to manage contractor performance to minimize risks related to project delays and cost overruns[162] Strategic Initiatives and Future Outlook - The company is exploring new business opportunities and implementing cost control measures amid challenging market conditions[53] - The company remains cautiously optimistic about the economic outlook while being vigilant about global market volatility[59] - The company provided a positive outlook for the next fiscal year, projecting revenue growth of BB% and an increase in user engagement metrics[66] - New product launches are expected to contribute an additional $CC million in revenue, with a focus on innovative technology solutions[66] - The company is expanding its market presence in Asia, targeting a growth rate of DD% in that region over the next two years[66] - Strategic acquisitions are planned to enhance the company's portfolio, with an estimated investment of $EE million in the upcoming quarter[66] - The company is investing in research and development, allocating $FF million to new technology initiatives aimed at improving operational efficiency[66] - The management team emphasized the importance of sustainability in their future strategies, aiming for a reduction in carbon footprint by GG% by 2025[66] - The company has set a goal to increase its market share by HH% in the next fiscal year through targeted marketing campaigns[66] - Overall, the company remains optimistic about its growth trajectory, with a commitment to delivering shareholder value and enhancing customer satisfaction[66] Financial Position and Debt - As of March 31, 2022, the total interest-bearing debt was approximately HKD 5,570,000,000, with 56% classified as current liabilities[148] - The group's cash and bank balances amounted to approximately HKD 1,877,000,000, including restricted bank deposits of HKD 85,000,000[148] - The total equity of shareholders increased to approximately HKD 12,264,000,000, primarily due to retained earnings and asset appreciation[151] - The debt-to-equity ratio was calculated at 30%, down from 31% the previous year[151] - The group has committed but undrawn bank credit facilities totaling approximately HKD 1,458,000,000 available for operational funding[148] - The group has pledged properties with a total book value of approximately HKD 16,238,000,000 as collateral for bank credit[154] - The group aims to generate sufficient recurring rental income to cover operational expenses, including administrative costs, financial costs, and dividends[143] Supplier and Procurement - The top five suppliers accounted for 65% of total procurement, with the largest supplier alone representing 25%[173] Shareholder Information - The company will suspend share transfer registration from August 22 to August 25, 2022, for the upcoming annual general meeting[166] - The final date for trading shares with entitlement to the proposed final dividend is August 29, 2022[167] - As of March 31, 2022, Dr. Wang holds 502,262,139 ordinary shares, representing 69.72% of the company's issued shares[186] - Dr. Wang's controlled company, Lucky Year, owns 490,506,139 shares, accounting for 68.09% of the company's issued shares[195] - The shares held by Dr. Wang are primarily through controlled companies, indicating a significant concentration of ownership[189]

Financial Performance - The group's unaudited consolidated revenue for the six months ended September 30, 2021, was HKD 608 million, a decrease from HKD 749 million in 2020[17] - Shareholders' net profit for the same period was HKD 122 million, up from HKD 92 million in 2020, excluding fair value losses on investment properties[17] - Basic earnings per share increased to HKD 0.17 from HKD 0.13 in the previous year[17] - The group reported a revenue of HKD 608,375,000 for the six months ended September 30, 2021, a decrease of 18.8% compared to HKD 749,378,000 for the same period in 2020[75] - The gross profit for the same period was HKD 349,818,000, representing an increase of 6.6% from HKD 328,025,000 in the previous year[75] - The net profit for the period was HKD 122,193,000, an increase of 31.9% compared to HKD 92,606,000 in the prior year[75] - The total comprehensive income for the period was HKD 244,993,000, compared to HKD 309,826,000 in the previous year[78] - The group's profit before tax for the six months was HKD 216,513,000, compared to HKD 230,832,000 for the same period last year, indicating a decrease of about 6.2%[102][108] Revenue Breakdown - Revenue from property development was HKD 377,046,000, while property investment generated HKD 212,102,000, and management and other services contributed HKD 19,227,000[102] - The company reported a significant increase in revenue from Hong Kong, rising to HKD 93,467,000 from HKD 40,391,000 year-on-year, reflecting an increase of approximately 131.5%[130] - Revenue from mainland China decreased to HKD 514,908,000 from HKD 708,987,000, representing a decline of about 27.4%[130] - Total revenue from customer contracts for the six months ended September 30, 2021, was HKD 399,495,000, comprising property sales of HKD 377,046,000, property management income of HKD 22,449,000, and other income of HKD 848,000[134] - Total revenue from other sources, including rental income, was HKD 208,880,000, leading to a total disclosed revenue of HKD 608,375,000 for the period[134] Property Development and Investment - Property development revenue for the six months was HKD 377 million, down from HKD 609 million in 2020, primarily due to fewer units delivered[19] - Property investment revenue increased to HKD 212 million from HKD 127 million in the previous year, with a significant contribution from a newly leased data center[25] - The total floor area of the Yao Yao Green Oasis project is approximately 273,000 square meters, with future sales expected to generate revenue of RMB 552 million[20] - The group has commenced construction on a mixed-use development project in Yuexiu District, with a total floor area of approximately 77,000 square meters[23] Financial Position - The group's total assets as of September 30, 2021, were approximately HKD 17,114,097,000, a decrease from HKD 17,993,841,000 as of March 31, 2021[80] - The group's equity attributable to shareholders increased to HKD 12,124 million from HKD 11,976 million as of March 31, 2021[17] - The debt-to-equity ratio remained stable at 31% as of September 30, 2021, consistent with the previous period[69] - As of September 30, 2021, the total interest-bearing debt of the group was approximately HKD 5,463,000,000, a decrease from HKD 5,727,000,000 as of March 31, 2021, with 39% classified as current liabilities[66] Cash Flow and Financing - Operating cash flow for the six months ended September 30, 2021, was HKD 218,843 thousand, compared to HKD 76,961 thousand for the same period in 2020, representing an increase of approximately 185%[89] - The company incurred financing cash outflows of HKD 496,974 thousand, compared to HKD 329,160 thousand in the previous year, indicating an increase of about 50.9%[91] - The company has entered into a loan agreement for a maximum principal of HKD 100,000,000 with a Hong Kong bank, intended for refinancing existing bank financing[54] - The loan financing agreement of HKD 1,500,000,000 is for refinancing existing loans of HKD 440,000,000 and general corporate funding needs[50] Corporate Governance - The board did not recommend an interim dividend for the six months ended September 30, 2021[18] - The company has adopted the standard code of conduct for securities trading as per the listing rules, confirming compliance for the six months ending September 30, 2021[58] - The company has deviated from the corporate governance code by having the same individual serve as both Chairman and CEO, which is believed to provide stable leadership[59] - The company has established a nomination committee, which includes a majority of independent non-executive directors, to comply with corporate governance standards[62] - The company has not established a remuneration committee that meets the minimum requirements of the corporate governance code, as it only reviews the remuneration of directors[64] Risk Management - The company emphasizes risk management and operational capability enhancement rather than aggressive growth strategies in the current market environment[35] - The group has no significant concentration of credit risk in trade receivables, which are spread across a large number of different customers[154] - The group has made full provisions for irrecoverable debts in trade receivables, indicating proactive risk management[154] - The group has no collateral or other credit enhancement tools held against its trade receivables balance, reflecting a straightforward credit policy[154]

Financial Performance - For the fiscal year ending March 31, 2021, the group's consolidated revenue was HKD 1,276 million, an increase from HKD 638 million in the previous year[21] - The net profit attributable to shareholders was HKD 122 million, compared to a net loss of HKD 36 million in the previous year[21] - The basic earnings per share rose to HKD 0.17, up from a loss of HKD 0.05 per share in the previous year[21] - The group recorded revenue of HKD 957 million from the delivery of units in the Yaya Oasis project, compared to HKD 193 million in the previous year[35] - The group aims to generate sufficient recurring rental income to cover operational expenses, including administrative costs, financial costs, and dividends[131] - The group’s revenue increased by 100% from HKD 638 million to HKD 1,276 million, with 75.0% from property sales, 22.7% from property leasing, and 2.3% from property and parking management[135] - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the latest fiscal year[64] Property Development and Leasing - Revenue from the residential project Yao Yao Oasis in Nanhai, Guangdong, amounted to HKD 957 million, significantly higher than HKD 193 million in the previous year[21] - The property leasing business generated stable revenue of HKD 290 million, slightly up from HKD 281 million in the previous year[21] - The average occupancy rate of the Hong Kong Tower in Guangzhou was approximately 74% during the year, increasing to 96% as of March 31, 2021[30] - The average occupancy rate of the retail section of the Han Guo City Commercial Center in Shenzhen was 78%, up from 64% in the previous year[39] - The occupancy rate of the office building in the group was 84% as of March 31, 2021, compared to 82% in the previous year[46] - The average occupancy rate for the boutique hotel at 11 Healthy Street was approximately 71% for the year ending March 31, 2021, down from 85% in 2020[50] - The average occupancy rate for the serviced apartments at the same location was about 75%, compared to 83% in the previous year[50] Equity and Dividends - As of March 31, 2021, total equity attributable to shareholders was HKD 11,976 million, an increase from HKD 11,311 million the previous year[22] - The net asset value per share increased to HKD 16.62, compared to HKD 15.70 the previous year[22] - The board proposed a final dividend of HKD 0.125 per share, consistent with the previous year's dividend[25] - As of March 31, 2021, the company's distributable reserves amounted to HKD 340,445,000, with HKD 90,054,000 proposed as the final dividend for the year[157] Debt and Financial Position - As of March 31, 2021, the total interest-bearing debt was approximately HKD 5,727 million, with 24% classified as current liabilities[136] - The total cash and bank balances amounted to approximately HKD 1,909 million, including restricted bank deposits of HKD 114 million[136] - The debt-to-equity ratio was calculated at 31%, a slight decrease from 32% in the previous year[137] Corporate Governance - The company has a strong governance structure, with the board meeting at least twice a year to discuss business development, operational performance, and financial status[89] - The board consists of experienced members, including independent non-executive directors who provide independent opinions on the company's development and risk management[89] - The company has adopted the standard code for securities trading by directors, ensuring compliance with regulations throughout the year[85] - The company is committed to maintaining high standards of corporate governance and continuously reviews its governance practices[84] - The company has a structured approach to board meetings, with formal agendas and sufficient notice provided to all directors[89] Market Outlook and Strategy - The real estate market in mainland China is expected to continue growing due to strong demand and government efforts to maintain stability[56] - The company is cautiously optimistic about the local economic growth prospects, with a GDP growth of 7.9% year-on-year in Q1 2021[57] - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next three years[64] - A strategic acquisition is in progress, which is anticipated to enhance the company's product offerings and increase market competitiveness[64] Sustainability and Innovation - The management team emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon footprint by 2025[64] - The company is investing $10 million in research and development for new technologies aimed at improving operational efficiency[64] - The group has implemented measures to save energy consumption and promote the recycling of office supplies and materials[131] Shareholder Communication - The company emphasizes the importance of communication with shareholders through interim reports, annual reports, and other announcements[126] - Shareholders holding at least 5% of total voting rights can request a special general meeting[123] Risk Factors - The group continues to face risks related to the property market in mainland China, including policy changes and currency fluctuations[145]

Financial Performance - The group's unaudited consolidated revenue for the six months ended September 30, 2020, was HKD 749 million, compared to HKD 375 million in 2019, representing a 99.87% increase[17]. - The net profit attributable to shareholders for the same period was HKD 92 million, down from HKD 224 million in 2019, indicating a decrease of 58.92%[17]. - Basic earnings per share were HKD 0.13, compared to HKD 0.31 in 2019, reflecting a decline of 58.06%[18]. - Gross profit for the same period was HKD 328,025,000, up from HKD 263,828,000, indicating a gross margin improvement[81]. - The net profit for the period was HKD 92,606,000, a decrease of 61.3% from HKD 239,431,000 in the previous year[81]. - The company reported a pre-tax profit of HKD 230,832,000 for the six months ended September 30, 2020, compared to HKD 331,078,000 for the same period in 2019, indicating a decrease of approximately 30.2%[106][110]. - The total tax expense for the period was HKD 138,226,000, compared to HKD 91,647,000 in the previous year, reflecting an increase of 50.73%[130]. Property Development - Property development revenue for the six months was HKD 609 million, significantly up from HKD 218 million in 2019, marking an increase of 179.36%[20]. - The group recorded a pre-tax profit of HKD 229 million from property development, compared to HKD 163 million in 2019, an increase of 40.49%[20]. - The group has a contracted but unrecognized property sales amounting to RMB 602 million as of September 30, 2020[23]. - The total floor area of the Yao Yao Oasis project is approximately 273,000 square meters, with the third phase expected to complete internal decoration by the end of 2020[23]. Property Investment - Rental income from property investment was HKD 127 million, down from HKD 140 million in 2019, a decrease of 9.29%[26]. - The pre-tax profit from property investment was HKD 68 million, compared to HKD 191 million in 2019, indicating a decline of 64.42%[26]. - The total floor area of completed investment properties in Hong Kong is approximately 474,000 square feet, with an average occupancy rate of 72% for the six months ended September 30, 2020, down from 85% in 2019[27]. - The total floor area of completed investment properties in mainland China is approximately 446,000 square meters, with an average occupancy rate of 63% for the six months ended September 30, 2020, down from 74% in 2019[30]. - The average occupancy rate for the retail portion of the Han Guo City Commercial Center is 69%, while the office units have been rented out at 42%[31]. Financial Position - The total interest-bearing debt as of September 30, 2020, was approximately HKD 5,790,000,000, with 41% classified as current liabilities[71]. - Cash and bank balances totaled approximately HKD 1,931,000,000, down from HKD 2,168,000,000, primarily due to loan repayments and construction costs[72]. - The debt-to-equity ratio was 33% as of September 30, 2020, compared to 32% as of March 31, 2020[73]. - The total equity attributable to shareholders increased to approximately HKD 11,515,000,000 from HKD 11,311,000,000, mainly due to retained earnings and asset revaluation[72]. - The company’s total assets amounted to HKD 19,896,946,000, with property development assets valued at HKD 2,329,366,000 and property investment assets at HKD 15,140,857,000[114]. Shareholder Information - Dr. Wang holds a total of 502,262,139 shares, representing 69.72% of the company's issued shares[47]. - Lucky Year Finance Limited owns 490,506,139 shares, accounting for 68.09% of the issued shares[47]. - The company has a significant concentration of ownership, with Dr. Wang and related entities controlling over 68% of the shares[48]. Corporate Governance - The company has complied with the corporate governance code, except for deviations regarding the roles of the chairman and CEO, which are held by the same individual[64]. - The company’s non-executive directors do not have a specified term of appointment, but they are subject to rotation and re-election according to the company's articles of association[65]. - The company confirmed compliance with the standards set out in the code for securities trading by directors during the reporting period[63]. Loans and Financing - The company entered into a loan agreement for HKD 1,500,000,000 with a syndicate for refinancing existing loans and general corporate funding[52]. - The domestic loan financing amounts to RMB 450,000,000, primarily for refinancing existing bank financing and general operating funds[53]. - The repayment period for the domestic loan financing is five years from the first drawdown[53]. - The company secured a term loan financing of HKD 100,000,000 from a Hong Kong bank for refinancing existing bank loans, with a repayment period of five years[56]. Employment and Staff - The company employed approximately 320 staff members as of September 30, 2020, a decrease from 330 as of March 31, 2020[77]. - Short-term employee benefits for management totaled HKD 13,953,000 for the six months ended September 30, 2020, down from HKD 14,619,000 for the same period in 2019[152]. Market Conditions - The GDP growth rate in mainland China for Q2 2020 was 3.2%, indicating a rapid recovery post-pandemic[36]. - The unemployment rate in Hong Kong rose to 6.4% as of September 2020, with a year-on-year GDP decline of 3.5% in Q3 2020[37]. - The company maintains a cautious optimism regarding the property market outlook in both Hong Kong and mainland China despite ongoing challenges from the pandemic[36].

Financial Performance - The company's consolidated revenue for the year ended March 31, 2020, was HKD 638 million, down from HKD 1,478 million in 2019, representing a decrease of approximately 56.9%[26] - Shareholders' attributable loss for the year was HKD 36 million, compared to a profit of HKD 1,159 million in 2019, marking a significant decline[26] - The basic loss per share was HKD 0.05, compared to earnings of HKD 1.61 per share in the previous year[26] - Shareholders' equity as of March 31, 2020, was HKD 11,311 million, down from HKD 11,874 million in 2019, indicating a decrease of about 4.7%[27] - The fair value loss of investment properties (net of deferred tax) was HKD 105 million, compared to a fair value gain of HKD 707 million in 2019[26] - The shareholders' attributable profit, excluding the fair value loss, would have been HKD 69 million, down from HKD 452 million in the previous year[26] - The proposed final dividend for the year ending March 31, 2020, is HKD 0.125 per share, consistent with the previous year[31] Market Conditions and Business Environment - The company anticipates continued pressure on the business environment due to the impact of the COVID-19 pandemic, which has disrupted cross-border traffic and commercial activities[28] - The decline in revenue was partly due to the cyclical downturn in property sales from development projects, with significant revenue from the Guangzhou Baocui Garden project recognized in prior years[26] - The company will closely monitor market conditions and adjust its market strategies accordingly[28] - The COVID-19 pandemic has caused significant impacts on the local economy, particularly in the retail, dining, and hotel sectors, leading to unprecedented low occupancy rates for the group's hotels[63] - The group anticipates that the negative effects of the COVID-19 pandemic may persist for several years, despite government measures to mitigate economic impacts[62] - The group expects long-term growth in the mainland property market due to strong demand and targeted government measures to stabilize the real estate market[62] Property and Project Performance - The total floor area of the Baoshu Garden project in Guangzhou is approximately 229,000 square meters, with revenue recognized for the final units delivered amounting to HKD 132,000,000, down from HKD 1,035,000,000 in the previous year[35] - The average occupancy rate of the Honghui Building in Guangzhou is approximately 85%[35] - The Yaya Oasis project in Nanhai has a total floor area of about 273,000 square meters, generating revenue of HKD 193,000,000 for the year, slightly up from HKD 189,000,000 the previous year[41] - The contracted but unrecognized property sales amount to RMB 884,000,000 as of March 31, 2020[41] - The total sales revenue from the Qiaochengfang project for the year is RMB 1,497,000,000, down from RMB 1,884,000,000 in the previous year[48] - The net profit attributable to the company from the Qiaochengfang project is HKD 110,000,000, a decrease from HKD 317,000,000 in the previous year[49] - The average occupancy rate of the Chongqing Hanguo Center is 94%, while the Chongqing Jinshan Commercial Center has an office occupancy rate of 82% and a hotel/office occupancy rate of 62%[52] - The average occupancy rate for the boutique hotel in Central is approximately 85%, while the serviced apartments above it have an average occupancy rate of about 83%[57] - The average occupancy rate for the hotel in Tsim Sha Tsui is approximately 62%, with the remaining floors of the building currently being leased for restaurant and commercial purposes[57] Operational Strategies and Initiatives - The company provided rent concessions to tenants based on individual circumstances to support them during the pandemic[28] - The group implemented cost control measures and offered attractive discounts to customers in response to the challenges faced by the hotel business[57] - The company is focused on expanding its capabilities in developing specialized properties to meet high-level construction requirements from corporate clients[56] - The company reported a significant increase in user data, with a year-over-year growth of 25% in active users[73] - Revenue for the fiscal year reached HKD 1.2 billion, representing a 15% increase compared to the previous year[73] - The company has set a future outlook with a revenue growth target of 10-12% for the next fiscal year[73] - New product development initiatives are underway, focusing on sustainable building materials, expected to launch in Q3 2024[73] - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[73] - A strategic acquisition of a local competitor is in progress, projected to enhance market capabilities and increase revenue by 5% annually[73] - The company has invested HKD 200 million in technology upgrades to improve operational efficiency[73] - The management team emphasized the importance of community engagement, with plans to increase corporate social responsibility initiatives by 30%[73] - The company aims to enhance shareholder value through a proposed dividend increase of 10%[73] Corporate Governance - The board of directors has approved a new strategic plan focusing on digital transformation and innovation[73] - The board of directors is committed to maintaining high standards of corporate governance and continuously reviewing and improving governance practices[90] - The company has adopted the standard code for securities transactions by directors, confirming compliance by all directors during the year[91] - The board held at least two meetings during the year to discuss business development, operational performance, and financial status[96] - The chairman also serves as the CEO, which the board believes provides stable and consistent leadership for the company's long-term strategy[98] - Non-executive directors are not appointed for a specific term, but they must retire at the annual general meeting and are eligible for re-election[99] - The company ensures that one-third of the directors must retire at each annual general meeting, except for those holding executive chairman or managing director positions[99] - The company has received written confirmations from independent non-executive directors regarding their independence as per listing rules[95] - The board is responsible for the overall development strategy and monitoring the financial performance and internal controls of the group[95] - The company has not complied with the corporate governance code regarding the separation of the roles of chairman and CEO[98] - The board will review the effectiveness of the current structure to balance power and authority between the board and management[98] - The company has established a remuneration committee consisting of two independent non-executive directors and one executive director, with the committee reviewing the remuneration of directors[105] - The audit committee held two meetings during the review year, with the independent auditor present at all meetings, focusing on financial reports and internal controls[112] - The independent auditor received a total fee of HKD 2,735,000, which includes HKD 2,700,000 for audit services and HKD 35,000 for non-audit services[117] - The company has not established a nomination committee; the board collectively considers suitable candidates for directorship[115] - The company emphasizes diversity in board member selection based on various factors, including gender, age, and professional experience[115] - The board is collectively responsible for corporate governance duties, including policy formulation and compliance monitoring[105] - The company encourages continuous professional development for all directors to enhance their knowledge and skills[103] - The audit committee's responsibilities include reviewing financial reports and assessing the effectiveness of the group's financial and internal control systems[108] - The company maintains training records for directors, summarizing their participation in training sessions for the fiscal year[103] Financial Position and Debt Management - As of March 31, 2020, the total interest-bearing debt of the group was approximately HKD 5,880,000,000, an increase from HKD 5,028,000,000 in 2019, with 32% classified as current liabilities[142] - The group's cash and bank balances totaled approximately HKD 2,168,000,000 as of March 31, 2020, up from HKD 1,963,000,000 in 2019[142] - The net interest-bearing debt was approximately HKD 3,712,000,000, resulting in a debt-to-equity ratio of 32% compared to 25% in 2019[145] - The total equity attributable to shareholders decreased to approximately HKD 11,311,000,000 from HKD 11,874,000,000 in 2019, primarily due to losses attributable to shareholders[143] - The group has committed but undrawn bank credit facilities amounting to approximately HKD 1,412,000,000 available for working capital[142] - The group has pledged properties with a total book value of approximately HKD 14,854,000,000 as collateral for certain bank credit facilities[147] - The five largest suppliers accounted for 86% of total procurement, with the largest supplier alone accounting for 59%[165] - The group has no significant foreign exchange risk as of March 31, 2020, with no foreign exchange contracts or other hedging instruments[146] - The group continues to face risks related to the property markets in mainland China and Hong Kong, including policy changes and economic conditions[152][153] Shareholder Structure and Related Transactions - The company reported a significant ownership structure, with Dr. Wang holding 502,262,139 shares, representing 69.72% of the issued shares[180] - Dr. Wang also has substantial interests in associated companies, including 341,439,324 shares in Jianye Industrial, accounting for 61.93% of its registered capital[180] - The company has a diverse board composition, with independent non-executive directors contributing to its governance and decision-making processes[168] - The board has recommended the re-election of Dr. Ma as an independent non-executive director, citing his valuable contributions and diverse background[172] - The company has received annual confirmations of independence from all independent non-executive directors, ensuring compliance with listing rules[168] - The remuneration of directors is subject to shareholder approval and is reviewed based on the company's performance and market statistics[175] - The company has no significant transactions or contracts involving directors that could impact its business operations[176] - The board's assessment of Dr. Ma's performance indicates a strong capability to provide independent and balanced opinions[172] - The company has a commitment to diversity in its board composition, considering various factors such as gender, age, and professional experience[172] - No directors were granted rights to purchase shares or bonds during the year, ensuring no conflicts of interest in this regard[186] - The company entered into a management contract with Jianye Industrial, incurring management fees of HKD 13,140,000 for the year, compared to HKD 12,327,000 in 2019[187] - As of March 31, 2020, major shareholders include Dr. Wang with 502,262,139 shares (69.72% of issued shares) and Lucky Year with 490,506,139 shares (68.09% of issued shares)[189] - Total development costs paid to Jianrong Foundation for the year ending March 31, 2020, amounted to HKD 10,500,000[195] - The company paid HKD 6,480,000 to Shun Cheung Data Center for consultancy services during the year ending March 31, 2020[195] - Total development costs paid to Jianye Construction for the data center project reached HKD 578,413,000 for the year ending March 31, 2020[198] - The framework agreement with Jianye Construction for the data center project has a total contract amount not exceeding HKD 757,800,000[197] - The company has a significant ownership concentration, with Jianye Industrial holding approximately 68.09% of the issued shares[190] - The management contract with Jianye Industrial does not specify a term and can be terminated with two months' written notice[187] - The company’s related transactions have been approved by independent shareholders as required by listing rules[197] - The company’s financial dealings with related parties are subject to disclosure and approval regulations due to the significant ownership stakes involved[197]

股份代號: 160 2019/20 中期報告 目 錄 公司資料 . 2 主席報告 . 3 一般資料 . 8 簡明綜合損益表 17 簡明綜合全面收益表 . 18 簡明綜合財務狀況表 . 19 簡明綜合權益變動表 . 21 簡明綜合現金流量表 . 22 簡明中期綜合財務報表附註 24 頁次 瀵國置業 中期報告 2019/20 1 公司資料 核數師 安永會計師事務所 股份過戶登記處 卓佳登捷時有限公司 香港皇后大道東183號 合和中心54樓 註冊辦事處 香港干諾道中111號 永安中心23樓 | --- | --- | --- | |----------|-------|----------------------------| | | | | | 電話 | ： | (852) 2523 7177 | | | | | | 圖文傳真 | ： | (852) 2845 1629 | | 電郵 | ： | general@chinneyhonkwok.com | 股份代號 香港聯交所160 網站 http://www.honkwok.com.hk | --- | --- | |---------------|------- ...

股份代號: 160 2018/19 年報 目 錄 | --- | --- | |-------------------------|-------| | | 頁次 | | 公司资料 ... | 2 | | 財務搞要 . | 3 | | 於中國大陸之物業項目 . | 4 | | 主席報告 . | 5 | | 董事及高級管理人員履歴. | 13 | | 企業管治報告 ... . | 17 | | 董事會報告 | 28 | | 獨立核數師報告 | 41 | | | | | 綜合損益表 . | 47 | | 綜合全面收益表 | 48 | | 综合財務狀況表 | 49 | | 綜合權益變動表 | 51 | | 綜合現金流量表 | 52 | | 財務報表附註 . | 54 | | 五年財務摘要 . | 150 | | 物業之詳細資料 | 151 | | 股東週年大會通告 | 156 | 漢國置業 2018/19 年報 1 公司資料 | --- | --- | |----------|----------| | | | | | | | 王世榮 | （主席） | | 王承偉 | | | 李曉平 | | | 林炳麟 | | | ...