Annual General Meeting and Shareholder Matters - The company plans to hold its 28th Annual General Meeting on June 4, 2019, to discuss the financial statements for the year ending December 31, 2018[3]. - The financial statements and reports from the board and auditors for the year ending December 31, 2018, will be accepted at the meeting[4]. - The company will propose a final dividend at the meeting, pending shareholder approval[4]. - The board will seek authorization to issue new shares up to 20% of the company's existing share capital[5]. - The company will also seek approval to buy back shares, with a maximum value not exceeding 10% of the total issued share capital[5]. - The company will suspend share transfer registration from May 28 to June 4, 2019, to determine eligibility for attending the meeting[8]. - The re-election of retiring directors, including Dr. Kuo Chi-pao and Mr. Kuo Chi-yi, will be discussed at the meeting[8]. Financial Performance and Revenue - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[16]. - User data showed an increase in active users, reaching Z million, which is a growth of A% year-over-year[16]. - The company provided guidance for the next quarter, expecting revenue to be between $B million and $C million, indicating a projected growth rate of D%[16]. - New product launches are anticipated to contribute an additional $E million in revenue, with a focus on innovative technology solutions[16]. - The company is expanding its market presence in region F, aiming to capture an additional G% market share by the end of the fiscal year[16]. - Recent acquisitions are expected to enhance operational efficiency and are projected to add $H million to the annual revenue[16]. - The company is investing $I million in research and development to drive future growth and innovation in product offerings[16]. - A new strategic partnership has been established, which is expected to generate an additional $J million in revenue over the next two years[16]. - The company reported a net profit margin of K%, reflecting improved cost management and operational efficiencies[16]. - The board of directors remains committed to shareholder returns, with plans to increase dividends by L% in the upcoming fiscal year[16]. Financial Results for 2018 - For the year ended December 31, 2018, the group's revenue decreased by 1.8% to HKD 1,462.8 million, down from HKD 1,489.4 million in 2017[25]. - The profit attributable to shareholders for 2018 was HKD 1,697.7 million, a decrease of 36.1% compared to HKD 2,657.2 million in 2017, primarily due to reduced valuation gains on investment properties[25]. - Basic earnings per share for 2018 were HKD 577.7 cents, down 36.1% from HKD 903.1 cents in 2017; excluding investment property valuation gains, basic earnings per share decreased by 34.9% to HKD 128.6 cents[25]. - The board proposed a final dividend of HKD 0.42 per share for 2018, down from HKD 0.68 per share in 2017, resulting in a total dividend of HKD 0.70 per share for 2018[25]. - As of December 31, 2018, the group's equity attributable to shareholders was HKD 19,080.4 million, an increase of 7.0% from HKD 17,800.0 million as of December 31, 2017[27]. - The group had cash and listed securities of approximately HKD 3,399.5 million as of December 31, 2018, providing sufficient liquidity for capital commitments and operational needs[27]. Business Strategy and Market Position - The current business strategy focuses on operating the department store business and enhancing rental income from commercial properties, both of which are core profit contributors[26]. - The group aims to strengthen its core business and seek expansion opportunities to improve profitability[26]. - The management is confident that the department stores can continue to satisfy customer needs despite changing market demands[26]. - The group engages in securities investments primarily in blue-chip stocks listed on major exchanges and professionally managed investment funds[26]. Corporate Governance and Board Matters - The board of directors consists of 9 members, including the chairman and CEO, with a commitment to high standards of corporate governance[75][79]. - All directors confirmed compliance with the standards set forth in the company's securities trading guidelines for the fiscal year ending December 31, 2018[76]. - The company has adopted the corporate governance code applicable to the Hong Kong Stock Exchange for the fiscal year ending December 31, 2018[75]. - The board held 5 meetings during the fiscal year, ensuring timely communication of agendas and related documents to all directors[79]. - The remuneration committee reviewed the performance of all executive directors and senior management to determine their compensation for the fiscal year ending December 31, 2018[92]. - The proposed director's remuneration for 2019 is HKD 238,000, to be presented at the upcoming annual general meeting on June 4, 2019[92]. - The Nomination Committee reviewed the board's structure, size, and diversity, ensuring a balanced composition with 5 independent non-executive directors possessing diverse experiences[95]. Risk Management and Compliance - The board established a risk management policy to ensure consistent measurement, control, monitoring, and reporting of risks across departments[102]. - The company actively monitors changes in laws and regulations that may impact operations and seeks external advice when necessary[54]. - The company has established a policy for handling and disclosing insider information, ensuring appropriate internal controls and reporting systems are in place[104]. Investment Properties and Market Conditions - Property investment income increased by 8.5% to HKD 461.4 million for the year ended December 31, 2018, compared to HKD 425.4 million in 2017[33]. - The rental income from commercial properties in Hong Kong rose by 8.1% to HKD 348.3 million, driven by higher rental rates and improved occupancy[33]. - The overall occupancy rate of the group's commercial properties in Hong Kong increased to approximately 98% as of December 31, 2018, compared to 94% in 2017[33]. - The group anticipates that the retail environment in Hong Kong will remain challenging in 2019 due to ongoing trade disputes between China and the United States[37]. Accounting Policies and Financial Reporting - The company adopted HKFRS 9 and HKFRS 15 starting January 1, 2018, with no restatement of comparative figures for HKFRS 9[113]. - The company confirmed that the adoption of new accounting policies did not affect net profit or net assets[144]. - Revenue is recognized when control of goods or services is transferred to customers, with amounts expected to be received net of returns and trade discounts[189]. - The company recognizes rental income from operating leases on a straight-line basis over the lease term, unless another basis better reflects the income pattern generated by the leased asset[191].