Financial Performance - Total revenue for the year ended March 31, 2021, was HK$301.855 million, a decrease from HK$1,116.20 million in 2020[15] - Gaming revenue was HK$209.075 million, down from HK$872.21 million in the previous year[15] - Hotel revenue decreased to HK$92.780 million from HK$211.56 million in 2020[15] - The Group reported a gross loss of HK$103.443 million compared to a gross profit of HK$1.10 million in 2020[15] - Loss attributable to owners of the Company was HK$177.576 million, compared to a profit of HK$221.21 million in the previous year[15] - Basic loss per share was HK$(0.15), a decline from earnings of HK$0.21 per share in 2020[15] - Final dividend per share was HK$0.015, down from HK$0.040 in the previous year[15] - The loss for the year attributable to the owners of the Company was HK$1,000,000 (2020: Profit of HK$200,000,000) with a basic loss per share of HK$0.10 (2020: Basic earnings per share of HK$0.21) [20] - Total revenue for the year was HK$301,000,000 (2020: HK$1,112,200,000), with a 12% increase in revenue in the second half compared to the first half, indicating a strong recovery [23] Gaming Operations - Total gaming revenue decreased by 69.3% to HK$201,100,000 (2020: HK$1,221,000,000), accounting for 69.3% of the Group's total revenue [33] - The mass market gross win was HK$242,100,000 (2020: HK$1,113,800,000), with revenue from the mass market hall at HK$138,000,000 (2020: HK$623,200,000), contributing 66.0% of total gaming revenue [37] - The VIP room generated revenue of HK$55,600,000 (2020: HK$267,900,000), contributing 26.6% of total gaming revenue, with a rolling amount of HK$2.4 billion (2020: HK$10.2 billion) [38] - The Group's VIP room turnover was HK$2.4 billion, a decrease of 76.5% from HK$10.2 billion in 2020, with VIP room revenue at HK$55.6 million, down 79.3% from HK$267.9 million in 2020, accounting for 26.6% of total gaming revenue[40] - Slot machine gross win was HK$32.7 million, down 56.5% from HK$75.1 million in 2020, with revenue of HK$15.5 million, a decrease of 56.6% from HK$35.7 million, representing 7.4% of total gaming revenue[42] Visitor Statistics - Visitor arrivals in Macau decreased by 87.1% during the year, significantly impacting business operations [21] - The resumption of the Individual Visit Scheme for Mainland China residents contributed to improved visitor numbers in Macau[19] - The Individual Visit Scheme from Mainland China to Macau resumed in September 2020, leading to a gradual improvement in visitation since the fourth quarter of 2020 [22] Hotel Operations - The Group's flagship hotel, Grand Emperor Hotel, has a gross floor area of approximately 300,000 square feet and offers 511 guest rooms [28] - The Group operates two hotels in Macau, with the second hotel, Inn Hotel Macau, having a gross floor area of approximately 200,000 square feet and 212 guest rooms [31] - Hotel revenue amounted to HK$92.8 million, down 57.1% from HK$216.4 million in 2020, accounting for 30.7% of total revenue[43] - Average room rates for GEH and IHM were HK$479 and HK$280, down 42.3% and 44.5% respectively from HK$830 and HK$504 in 2020, with occupancy rates at 53% and 56%[43] Dividends and Shareholder Returns - The Group paid an interim dividend of HK$1,227,000 for the Year, with an interim dividend of HK$0.01 per share, compared to HK$0.00 per share in 2020[1] - The Directors recommended a final dividend of HK$0.01 per share for the Year, subject to shareholder approval at the upcoming AGM[1] - The Group declared a special dividend of HK$0.050 per share, totaling approximately HK$59.9 million, to be paid on June 25, 2021[48] - The Group's distributable reserves as of March 31, 2021, amounted to HK$1,009,755,000, an increase from HK$349,775,000 in 2020[1] Financial Position - The Group maintained a strong financial position with bank balances and cash totaling HK$1,000.1 million as of March 31, 2021[55] - As of March 31, 2021, the Group's current assets were HK$3,458.1 million, down from HK$3,762.3 million in 2020, while current liabilities decreased to HK$357.3 million from HK$443.7 million[58] - The Group maintained a net cash position as of March 31, 2021, resulting in a gearing ratio of zero, consistent with the previous year[58] - Assets with carrying values of approximately HK$2.0 billion were pledged to banks as security for banking facilities totaling HK$20.0 million[65] Corporate Governance - The Board comprises six Directors, including one Non-executive Director, two Executive Directors, and three Independent Non-executive Directors, ensuring a strong independent element[178] - The company fully complied with all code provisions of the Corporate Governance Code during the year[178] - The Independent Non-executive Directors (INEDs) are all professionals with recognized experience in legal, compliance, accounting, or auditing fields[182] - The management is led by the Executive Committee, which has been delegated powers for day-to-day operations and key business decisions[182] - The company is committed to maintaining high standards of corporate governance to ensure accountability, responsibility, and transparency[177] Strategic Initiatives - The Group expects to benefit from the release of suppressed travel and gaming demand from mainland China as the Covid-19 pandemic is contained[49] - A travel bubble or health code is anticipated to be launched soon, which will enhance the Group's marketing strategy for its hospitality business[50] - The company is investing in new technology development, allocating $F million towards R&D initiatives aimed at enhancing operational efficiency[71] - Market expansion plans include entering two new regions, which are expected to generate an estimated $G million in additional revenue over the next two years[71] - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the industry[71] Employee and Director Remuneration - The Directors' remuneration is aligned with the Company's business strategy and market practices[1] - Employee remuneration is determined by individual responsibilities, skills, experience, and performance, with packages including basic salary, bonuses, and competitive benefits[96] - The remuneration policy for directors is based on a written policy that aligns with business strategy and shareholder interests, ensuring competitive pay levels[96] Share Repurchase and Capital Management - During the year, the Company repurchased 24,665,000 shares at an aggregate consideration of HK$27.7 million, reducing the total number of issued shares by approximately 2.0% to 1,209,575,983 shares[59] - The company did not purchase, sell, or redeem any of its listed securities other than the repurchased shares[124] - The repurchases were made to enhance the net asset value and/or earnings per share[123]

Financial Performance - Total revenue decreased by 86.3% to HKD 92,900,000 compared to HKD 677,900,000 in the same period last year[9]. - The company reported a loss attributable to shareholders of HKD 141,800,000, compared to a profit of HKD 177,200,000 in the previous year[9]. - Basic loss per share was HKD 0.12, compared to earnings of HKD 0.14 per share in the prior year[9]. - The group incurred a loss of HKD 174,353,000 for the period, compared to a profit of HKD 200,220,000 in the previous year, indicating a negative swing of approximately 187%[34]. - The group reported a pre-tax loss of HKD 182,182,000 for the period, highlighting the financial impact of the ongoing challenges in the market[61]. - The company reported a pre-tax loss of HKD 141,810,000 for the six months ended September 30, 2020, compared to a profit of HKD 177,200,000 in the same period of 2019[78]. Revenue Breakdown - Gaming revenue fell by 90.9% to HKD 51,100,000, accounting for 55.0% of total revenue, down from 82.5%[9]. - Hotel revenue was HKD 41,800,000, down from HKD 118,400,000, representing 45.0% of total revenue[19]. - The group’s VIP room revenue was HKD 6,000,000, a significant drop from HKD 160,200,000, accounting for 11.8% of total gaming revenue[17]. - The average daily gaming revenue per table in the mass market was approximately HKD 5,300, down from HKD 55,000[16]. - The gaming business generated service income of HKD 51,094,000, down from HKD 600,000,000 in the previous year, indicating a decrease of about 91.5%[61]. - Hotel room revenue was HKD 15,138,000, compared to HKD 50,509,000 in the prior year, reflecting a decline of approximately 70%[56]. Operational Metrics - Average room rates for the flagship hotel were HKD 536, down from HKD 846, with an occupancy rate of 34% compared to 94% last year[19]. - The group operates two hotels, with a total of 598 rooms, aiming to capture the potential of the Macau hotel market[12]. - The total employee cost for the period was HKD 154,100,000, a decrease from HKD 225,000,000 in 2019, reflecting a reduction of approximately 31.6%[28]. Financial Position - The group maintained a strong financial position with cash and bank deposits totaling HKD 3,442,800,000 as of September 30, 2020, down from HKD 3,544,300,000 as of March 31, 2020[22]. - The capital debt ratio was zero as of September 30, 2020, indicating a net cash position, consistent with the previous reporting period[24]. - The net cash position was maintained at zero debt ratio, indicating a strong financial condition despite the ongoing pandemic[48]. - The net current assets as of September 30, 2020, were HKD 3,171,446, a decrease from HKD 3,318,619 as of March 31, 2020[39]. - The total assets as of September 30, 2020, were HKD 3,608,940, a decrease from HKD 3,762,292 as of March 31, 2020[39]. Shareholder Actions - The company repurchased 16,715,000 shares at an average price of HKD 1.139 per share, reducing the total issued shares by approximately 1.35%[25]. - The board declared an interim dividend of HKD 0.015 per share, down from HKD 0.030 per share in 2019, representing a 50% reduction[29]. - The total issued and paid-up share capital as of September 30, 2020, was HKD 121,000,000, reflecting a decrease in the number of shares due to buybacks[102]. - The company aims to enhance net asset value and/or earnings per share through share repurchases[132]. Market Conditions and Future Outlook - The group expects a rebound in visitor numbers and spending as pent-up leisure demand is released, contingent on the effective control of the pandemic[21]. - The group is actively monitoring the market conditions and adjusting its strategies to navigate the ongoing uncertainties in the hospitality and gaming industries[58]. - The group plans to strictly control daily operations and capital expenditures to mitigate the financial impact of the ongoing pandemic[48]. Impairment and Credit Risk - Trade receivables as of September 30, 2020, amounted to HKD 39,632,000, with a provision for impairment of HKD 20,899,000, compared to HKD 76,340,000 and HKD 52,741,000 respectively in March 2020[86]. - The expected credit loss for a specific gaming customer was HKD 79,000, down from HKD 265,000 in the previous year, indicating a significant reduction in credit risk[91]. - The total impairment provision for trade receivables as of September 30, 2020, was HKD 20,899,000, down from HKD 52,741,000 as of March 31, 2020, reflecting improved collection expectations[92]. Compliance and Governance - The company has complied with all provisions of the Corporate Governance Code during the reporting period[127]. - The interim financial statements have not been audited or reviewed by the company's auditors but have been reviewed by the audit committee[130]. - The company has adopted a securities trading code for directors that meets or exceeds the standards set out in the Listing Rules[128].

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-----------------------------------------------------------------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 英皇娛樂酒店有限公司 | ...

英皇娛樂酒店有限公司 Emperor Entertainment Hotel Limited 於百發建註冊成立之有限公司(股份代號:296) 2019/2020 中期報告 | --- | --- | |------------------------------|-------| | | | | 目錄 | | | 財務亮點 | 2 | | 管理層討論及分析 | 3 | | 中期股息 | 8 | | 簡明綜合損益及其他全面收益表 | 9 | | 簡明綜合財務狀況表 | 11 | | | | | 簡明綜合權益變動表 | 13 | | 簡明綜合現金流量表 | 14 | | 簡明綜合財務報表附註 | 15 | | 董事及主要行政人員之證券權益 | 48 | | 其他人士之證券權益 | 51 | | | | | 企業管治及其他資料 | 52 | 財務亮點 | --- | --- | --- | --- | |----------------------|-------------------------------------------------------------|---------------------- ...

Financial Performance - For the year ended March 31, 2019, revenue decreased by 7.8% to HK$1,381,335,000 compared to HK$1,498,351,000 in 2018[6] - Gross profit for the same period fell by 12.6% to HK$838,191,000 from HK$958,923,000[6] - Profit attributable to owners of the Company decreased by 6.6% to HK$367,492,000, down from HK$393,574,000 in the previous year[6] - Basic earnings per share declined by 3.3% to HK$0.29 from HK$0.30[6] - Total dividends per share slightly decreased by 1.2% to HK$0.082 from HK$0.083[6] - Revenue declined by 7.8% to HK$1,381.3 million compared to HK$1,498.4 million in 2018[13] - Profit attributable to owners decreased by 6.6% to HK$367.5 million from HK$393.6 million in 2018[13] - Basic earnings per share were HK$0.29, down from HK$0.30 in 2018[13] - Total dividends per share for the year were HK$0.082, slightly down from HK$0.083 in 2018[13] Gaming and Tourism - The number of inbound visitors to Macau increased by 13.0% to 37.6 million during the year[11] - Macau's gross gaming revenue rose by 8.5% to MOP302.5 billion, compared to double-digit growth in the previous financial year[12] - The development of Cotai casino resorts has started to mature, impacting the growth of the gaming market[12] - The global economic environment remains volatile, affecting capital flows from mainland China[12] - The Group's gaming revenue decreased slightly to HK$1,136.8 million, down from HK$1,253.4 million in the previous year, reflecting a decline of approximately 9.3%[31] - Revenue from the gaming concourse was HK$664.8 million, accounting for 48.1% of the Group's total revenue, a slight decrease from 48.3% in the previous year[31] - The VIP room generated revenue of HK$429.4 million, representing 31.1% of total revenue, down from 32.8% the previous year[33] - Slot machine revenue increased to HK$42.6 million, accounting for 3.1% of total revenue, up from 2.6% in the previous year[33] - Hotel revenue slightly decreased by 0.2% to HK$244.5 million, accounting for 17.7% of total revenue, an increase from 16.3% the previous year[33] - Approximately 70% of Macau's tourists originate from mainland China, indicating a strong reliance on this market[35] - The operation of the Hong Kong-Zhuhai-Macao Bridge and the promotion of the Greater Bay Area are expected to boost Macau tourism[35] Corporate Strategy and Outlook - The Group aims to expand its share of the premium mass market, which is seen as having long-term potential[36] - The Group is optimistic about the long-term outlook for Macau's gaming market despite short-term global economic volatility and political tensions[35] - The Group plans to enhance competitiveness by offering differentiated, premium services to targeted customer segments[36] - The Group is committed to contributing to Macau's development as a global gaming hub[36] Shareholder and Dividend Information - The Group paid an interim dividend of HK$0.028 per share for the Year, totaling approximately HK$35,871,000, compared to HK$0.026 per share and HK$33,866,000 in the previous year[55] - The Directors recommended a final dividend of HK$0.054 per share for the Year, down from HK$0.057 per share in 2018, subject to shareholder approval[55] - The total dividends paid during the Year amounted to HK$35,871,000, reflecting a year-on-year increase from HK$33,866,000[55] Corporate Governance - The Company has maintained its commitment to corporate governance through the establishment of various committees, including the Audit Committee and Remuneration Committee[55] - The Company confirmed the independence of all independent non-executive directors as per the Listing Rules[95] - The Board consists of six directors, including one non-executive director, two executive directors, and three independent non-executive directors, ensuring a balance of power[137] - The Chairperson has been leading the Board since 2000, ensuring effective governance and timely information dissemination[138] - The Company has arranged appropriate insurance coverage for legal actions against Directors[157] Internal Control and Risk Management - The Board is responsible for ensuring the establishment and maintenance of appropriate and effective internal control systems to manage risks rather than eliminate them[198] - Internal control measures cover operational, financial, and compliance controls, ensuring the completeness, accuracy, and validity of financial records and reports[199] - The Group's internal control policies and procedures are regularly updated to provide guidance on risk management and internal control systems[199] - The Audit Committee oversees the internal control systems and ensures that management performs its duties effectively[200] - The internal control systems aim to safeguard assets and promote adherence to policies, procedures, regulations, and laws[198] - The Group's risk management strategies are formulated based on the nature and extent of significant risks the Company is willing to take[200] Employment and Staff Information - As of March 31, 2019, the Group employed 1,143 staff, a decrease from 1,164 in 2018[37] - Total staff costs for the year amounted to HK$451.7 million, up from HK$441.8 million in 2018, reflecting a year-on-year increase of approximately 2.0%[37] - The share option scheme has been adopted to provide incentives or rewards to staff[38] - Employee remuneration includes basic salary, housing allowances, and discretionary bonuses linked to financial performance[67] Acquisitions and Investments - The Group completed acquisitions increasing its shareholding in Luck United to 80% for a total consideration of HK$615.0 million[27] - The Group invested in high-yield listed corporate bonds with a carrying value of HK$468.8 million as of March 31, 2019, up from HK$423.1 million in 2018[14] - The Group acquired property, plant, and equipment at a cost of HK$75,305,000 during the year[57] Share Repurchase and Capital Structure - The company repurchased a total of 43,720,000 shares at an aggregate consideration of HK$72,377,000 during the year[96] - The share repurchases aimed to enhance the net asset value and/or earnings per share[99] - As of March 31, 2019, the total number of shares in issue was 1,258,825,983, down from 1,302,545,983 in 2018[100]