New Century Group Hong Kong Limited 新 世 紀 集 園 香 港 有 限 公 司 (Stock Code 股份號 : 234) | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | INTERIM REPORT 2021 中期報告 | | | | | | | | | | | Contents Independent Review Report 1 獨立審閱報告 Condensed Consolidated Statement of Profit or Loss 3 簡明綜合損益表 Condensed Consolidated Statement of ...

Financial Performance - Revenue for the year ended 31 March 2021 was HK$100.4 million, a decrease of 30.9% from HK$145.4 million in 2020[9] - The profit attributable to owners of the Company was a loss of HK$56.7 million, compared to a profit of HK$15.5 million in the previous year[9] - Equity attributable to owners of the Company decreased to HK$1,582.5 million from HK$1,617.2 million in 2020, reflecting a decline of 2.1%[9] - Earnings per share for the year was a loss of HK$0.98, compared to earnings of HK$0.27 per share in 2020[9] - The Group's revenue decreased by 31.0% to HK$100,360,000 compared to HK$145,364,000 last year[27] - The loss attributable to owners was HK$56,712,000, a significant decline from a profit of HK$15,461,000 in the previous year[15] - Other income decreased by 65.7% to HK$4,131,000, primarily due to a drop in bank interest income[27] - The Group recorded a loss attributable to owners of the Company of HK$56,712,000 for the Year, compared to a profit of HK$15,461,000 last year, mainly due to the absence of cruise ship charter service income[35] Economic Outlook - The global economy is expected to grow by 6% in 2021, with Hong Kong's real GDP showing a year-on-year growth of 7.9% in Q1 2021[14] - The ongoing vaccine rollout and government stimulus in Hong Kong are expected to support economic recovery[14] - The near-term outlook for the global economy is closely tied to the development of the COVID-19 pandemic, with a focus on building a diversified portfolio for sustainable growth[21] Business Segments - The Group's focus remains on cruise ship charter services, property investments, securities trading, and money lending[7] - The money lending business recorded a profit increase of 10.9% to HK$61,801,000, providing stable contributions amid uncertainties[15] - The cruise ship charter services segment suffered a loss of HK$112,325,000 due to halted operations since mid-March 2020[20] - The Group's occupancy rate for its properties remained strong at 99.7% despite challenging market conditions[20] - The securities trading segment recorded a gain of HK$9,776,000 for the Year (2020: a loss of HK$8,746,000), primarily due to net realized and unrealized gains on equity investments of HK$8,079,000 (2020: losses of HK$9,735,000)[47] Financial Management - Administrative and operating expenses increased by 49.8% to HK$75,793,000 compared to HK$50,585,000 last year, primarily due to special subsidies of HK$31,153,000 paid to the charterer for cruise ship maintenance[28] - Total gross loan and interest receivables decreased by 4.1% to HK$661,861,000 from HK$690,433,000 in the previous year[36] - Interest income increased by 5.2% to HK$74,303,000 for the Year, compared to HK$70,636,000 last year, driven by an 8.3% increase in interest income from secured mortgage loans[37] - The Group's interest income from money lending increased from HK$70,636,000 last year to HK$74,303,000 for the current year[27] Corporate Governance - The Company has complied with all code provisions of the Corporate Governance Code for the year ended March 31, 2021, except for the chairman's absence at the annual general meeting due to travel restrictions[80] - The Board of Directors consists of nine members, including three independent non-executive directors[87] - The independent non-executive directors have a specific term of three years and are subject to retirement by rotation at least once every three years[89] - The Remuneration Committee comprises five members, including two executive directors and three independent non-executive directors[94] - The Company has received annual confirmations of independence from each independent non-executive director[89] Environmental Impact - The Group's air emissions for Nitrogen Oxides (NOX) decreased from 1.84 kg in 2020 to 0.73 kg in 2021, a reduction of approximately 60.3%[136] - Sulphur Oxides (SOX) emissions reduced from 0.05 kg in 2020 to 0.04 kg in 2021, a decrease of 20%[136] - Particulate Matter (PM) emissions decreased from 0.14 kg in 2020 to 0.05 kg in 2021, representing a reduction of about 64.3%[136] - The Group has implemented energy-saving initiatives as part of its resource usage strategy[139] - The Group has not reported any non-compliance with laws and regulations regarding air and greenhouse gas emissions during the reporting period[139] Employee Welfare - The Group offers competitive remuneration and benefits to attract and retain talent, with compensation determined by factors such as educational background and industry salary levels[158] - The Group has a zero-tolerance policy for sexual harassment or abuse in the workplace[161] - Benefits plans include mandatory provident fund (MPF) schemes, medical insurance, group life insurance, and discretionary bonuses[161] - The employee turnover rate for 2021 was 1 male employee, with no turnover among females or employees under 30[155] - The Group is committed to creating a diverse and inclusive workplace, ensuring equal opportunities free from discrimination[161] Social Responsibility - The Group made donations of HK$65,000, including the purchase of 1,000 boxes (50,000 pieces) of adult medical face masks for charitable organizations[198] - Certain companies in the Group have been awarded the "Caring Company" logo for ten consecutive years by the Hong Kong Council of Social Service, recognizing their contributions to society[198] - The Group aims to maximize its social investments to create a more favorable environment for the community[198]

Financial Performance - Revenue for the six months ended September 30, 2020, was HK$41,858,000, a decrease of 47.5% compared to HK$79,857,000 in the same period of 2019[27] - Gross profit for the period was HK$32,556,000, down 54.0% from HK$70,607,000 year-on-year[27] - The company reported a loss before tax of HK$76,419,000, compared to a profit of HK$37,592,000 in the previous year[27] - Profit for the period attributable to owners of the company was a loss of HK$59,072,000, compared to a profit of HK$12,018,000 in the same period last year[27] - Basic and diluted loss per share was HK$1.02 cents, compared to earnings of HK$0.21 cents per share in the previous year[27] - Other income decreased to HK$2,566,000 from HK$9,152,000, reflecting a decline of 71.9%[27] - Administrative and operating expenses increased to HK$36,747,000 from HK$24,576,000, an increase of 49.4%[27] - The company reported a loss of HK$81,392,000 for the six months ended September 30, 2020, compared to a profit of HK$32,680,000 in the same period of 2019[28] - Total comprehensive loss for the period amounted to HK$67,949,000, with owners of the company attributing a loss of HK$48,206,000[28] - The company recorded an exchange difference gain of HK$13,275,000 from foreign operations, compared to a loss of HK$7,270,000 in the previous year[28] - The total comprehensive income for the period was a loss of HK$48,206,000, which includes an exchange difference of HK$10,378,000 from foreign operations[33] - The company reported a deficit on the revaluation of cruise ships amounting to HK$479,000[33] - The Group's profit before tax for the six months ended 30 September 2020 was a loss of HK$59,072,000, compared to a profit of HK$12,018,000 for the same period in 2019[93] Assets and Liabilities - Non-current assets decreased to HK$989,420,000 as of September 30, 2020, down from HK$1,024,658,000 as of March 31, 2020[29] - Current assets totaled HK$1,137,444,000, slightly down from HK$1,143,998,000 in the previous period[29] - Current liabilities increased to HK$156,088,000 from HK$129,171,000, indicating a rise in short-term financial obligations[29] - Net current assets decreased to HK$981,356,000 from HK$1,014,827,000, reflecting a decline in liquidity[31] - Total assets were reported at HK$1,970,776,000, down from HK$2,039,485,000, indicating a reduction in overall asset base[31] - The company's equity attributable to owners decreased to HK$1,569,021,000 from HK$1,617,227,000, showing a decline in shareholder equity[31] - Cash and cash equivalents at the end of the period were HK$412,091,000, down from HK$546,192,000 in 2019, reflecting a decrease of approximately 24.6%[74] - The Group's total indebtedness was HK$217,893,000, with an aggregate carrying amount of pledged assets including land and buildings at HK$311,121,000, trade receivables at HK$1,396,000, and equity investments at HK$64,467,000[182] - The Group's net current assets were HK$981,356,000, and equity attributable to owners of the Company was HK$1,569,021,000 as of September 30, 2020[182] Cash Flow and Investments - Cash generated from operations was a negative HK$17,697,000, a decrease from HK$236,850,000 in the same period of 2019[71] - Net cash flows used in investing activities amounted to HK$12,161,000, compared to HK$246,591,000 in 2019, indicating a reduction in investment outflows[72] - The acquisition of a subsidiary in 2019 resulted in cash outflows of HK$457,640,000, which did not recur in 2020[72] - The Group's loan and interest receivables increased to HK$722,986,000 as of 30 September 2020, up from HK$690,433,000 as of 31 March 2020[115] - The fair value of equity investments at fair value through profit or loss increased to HK$64,467,000 as of September 30, 2020, up from HK$14,119,000 as of March 31, 2020[139] Segment Performance - The Group is organized into four reportable operating segments: money lending, cruise ship charter services, property investments, and securities trading[81] - Revenue from secured mortgage loans and unsecured personal loans increased to HK$37,008,000 in 2020 from HK$35,720,000 in 2019, representing a growth of 3.6%[87] - Cruise ship charter service income was HK$8,423,000 in 2020, down from HK$37,459,000 in 2019, indicating a decline of 77.5%[87] - The cruise ship charter services segment recorded a loss of HK$80,040,000 for the current period, a significant decline from a profit of HK$26,963,000 in the previous period[175] - Rental relief of at least 10% was granted to tenants, leading to a 16.6% decrease in segment revenue from property investments to HK$8,423,000 for the current period[176] Government Support and Subsidies - The company recognized government subsidies of HK$1,461,000 during the period, which were part of the Employment Support Scheme[86] - The Group received a government subsidy of HK$705,000 under the Employment Support Scheme, compared to Nil in 2019[173] Share Capital and Equity - The total number of issued shares of the Company was 5,780,368,705[199] - The Group had 386,640,000 share options outstanding at the end of the reporting period, which represented approximately 6.7% of the total issued shares[130] - The Group's total staff costs for the period amounted to HK$10,020,000, slightly down from HK$10,059,000 in 2019[190] - Directors' total interests in shares and underlying shares amounted to 3,881,125,691, representing 67.14% of the Company's issued share capital[195] Risk Management - The Group is exposed to equity price risk from trading equity investments, which are valued at quoted market prices at the end of the reporting period[185] - Credit risk is mitigated by conducting transactions with high-quality customers and obtaining sufficient collaterals where appropriate[186] - The Group's management considers the credit risk from secured mortgage loans to be significantly mitigated by the properties held as collateral[190]

Financial Performance - Revenue for 2020 was HK$145.4 million, a decrease of 16.0% from HK$173.0 million in 2019[12]. - Profit attributable to owners of the Company was HK$15.5 million in 2020, down from HK$47.5 million in 2019, representing a decline of 67.4%[13]. - Earnings per share decreased to HK$0.27 in 2020 from HK$0.82 in 2019, a drop of 67.1%[14]. - Revenue for the year decreased by 16.0% to HK$145,364,000, while profit attributable to owners dropped 67.4% year-on-year to HK$15,461,000[21]. - The decrease in revenue was mainly due to a drop in charter service income from HK$79,011,000 to HK$64,175,000 and a decrease in interest income from HK$73,598,000 to HK$70,636,000[44]. - The Group recorded net fair value losses of HK$24,634,000 for investment properties in Hong Kong and Singapore, compared to fair value gains of HK$7,554,000 last year[45]. - The property investments segment recorded a loss of HK$9,146,000 for the Year (2019 (Restated): profit of HK$23,891,000)[59]. - The securities trading segment recorded a loss of HK$8,746,000 for the Year, an increase of 158.8% compared to HK$3,379,000 last year[77]. Business Operations - The Group focuses on cruise ship charter services, property investments, securities trading, and money lending[10]. - Charter service income dropped by 18.8% to HK$64,175,000 due to the impact of COVID-19 and operational suspensions[23]. - The occupancy rate for Hong Kong and Singapore investment properties achieved 96.9% during the year[24]. - The company plans to renew charter agreements for cruise ships at lower daily charter fees effective from July 1, 2020[27]. - Temporary rental reductions of at least 10% have been granted to tenants of Hong Kong investment properties since September 2019[24]. - The Group's segment profit slightly decreased by 1.4% to HK$55,714,000 for the Year, compared to HK$56,518,000 in the previous year[53]. Acquisitions and Investments - The acquisition of 60% equity interest in ETC Finance Limited, a licensed money lender in Hong Kong, was completed, generating interest income of HK$70,636,000[21]. - The Group completed the acquisition of 60% equity interest in ETC for a total consideration of HK$497,640,000, which has become an indirect non-wholly owned subsidiary[38]. - The Group's equity investments at fair value through profit or loss amounted to HK$14,119,000 as of 31 March 2020 (2019: HK$27,984,000)[69]. - ETC's total loan portfolio was approximately HK$632,554,000 as of September 30, 2020, comprising secured mortgage loans and unsecured personal loans[97]. Corporate Governance - The company is committed to enhancing its corporate governance and environmental, social, and governance practices[2]. - The Company has complied with all code provisions of the Corporate Governance Code for the year ended March 31, 2020[118]. - The Board of Directors is committed to maintaining high standards of corporate governance practices[117]. - The Company has established three board committees: Remuneration Committee, Nomination Committee, and Audit Committee, with clearly defined written terms of reference[130]. - The Company ensures that no director is involved in deciding his own remuneration[136]. - The Company has developed, reviewed, and monitored the code of conduct and compliance manual applicable to employees and directors[185]. Risk Management - The company anticipates continued adverse factors and uncertainty due to escalating Sino-US tensions and social unrest[26]. - The Company will continue to monitor uncertainties, including COVID-19, and take measures to mitigate impacts on business operations[34]. - The Group's total indebtedness, which includes loans from a non-controlling shareholder, was HK$178,945,000 as of March 31, 2020[79]. - The liquidity risk is considered manageable by the management, utilizing a recurring liquidity planning tool[95]. - The Board has conducted a review of the effectiveness of the Group's risk management and internal control systems, considering them effective and adequate[199]. Employee and Director Matters - The Group's employee benefits include a mandatory provident fund scheme, medical insurance, share option scheme, and discretionary bonuses[96]. - The Company is in the process of identifying a suitable candidate with appropriate experience to be the Chief Executive Officer[131]. - The attendance record of directors at various meetings indicates high engagement, with most executive directors attending over 80% of meetings[176]. - The Company Secretary, Ms. Ng, received no less than 15 hours of relevant professional training during the year[200].

New Century Group Hong Kong Limited 新 世 紀 集 團 香 港 有 限 公 司 (Stock Code 股份代號 : 234 ) .......... HILLOWOOD TTHE THUN Interim Report 期報告 Contents 目錄 Independent Review Report 1 獨立審閱報告 Condensed Consolidated Statement of Profit or Loss 3 簡明綜合損益表 Condensed Consolidated Statement of Comprehensive Income 5 簡明綜合全面收益表 Condensed Consolidated Statement of Financial Position 7 簡明綜合財務狀況表 Condensed Consolidated Statement of Changes in Equity 9 簡明綜合權益變動表 Condensed Consolidated Statement of Cash Flows 11 簡明綜合現金流量表 Notes to ...

2019 #NUAL REPORT New Century Group Hong Kong Limited 新 世 紀 集 團 香 港 有 限 公 司 (Stock Code 股份代號:234) | --- | --- | |-------------------------------------------------------------------------------|-------| | | | | | | | | | | | | | | | | Contents 目錄 | | | | | | Corporate Information 公司資料 | 2 | | Group Structure 集團架構 | 4 | | Key Financial Highlights | | | 重要財務撮要 | 5 | | Chairman's Statement 主席報告書 | 6 | | Management Discussion and Analysis | 9 | | 管理層討論與分析 | | | Corporate Governance Report | 22 | | 企業管治報告 Environ ...