RELIANCE GLOHL(00723)

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信保环球控股(00723) - 2021 - 年度财报
2021-07-29 08:40
Financial Performance - The company reported a revenue increase of 36% to HKD 842,631,000 for the fiscal year ending March 31, 2021, compared to HKD 619,241,000 in the previous year[24]. - Net profit rose by 12% to HKD 38,689,000, up from HKD 34,561,000 in the prior year, with a basic earnings per share of HKD 0.36, slightly down from HKD 0.37[24]. - The overall profit attributable to shareholders was HKD 33,080,000, slightly down from HKD 33,709,000 in the previous year[24]. - The group recorded a profit attributable to the owners of HKD 33,080,000 for the fiscal year 2021, compared to HKD 33,709,000 in 2020, with basic earnings per share of HKD 0.36, down from HKD 0.37[86]. Revenue Sources - The timber supply chain and lending businesses contributed significantly to the profit, generating HKD 30,619,000 and HKD 26,466,000 respectively[24]. - The wood supply chain operations generated revenue of HKD 807,830,000, a 38% increase from HKD 583,584,000, and profit of HKD 30,619,000, up 96% from HKD 15,634,000[35]. - The traditional business model generated revenue of HKD 551,002,000, with a profit of HKD 13,242,000, while the optimized business model produced revenue of HKD 256,828,000 and profit of HKD 17,377,000[37][38]. - The lending business generated revenue of HKD 34,001,000, with operating profit of HKD 26,466,000, although operating profit decreased by 10% due to a 106% increase in loan impairment losses[26]. Timber Operations - The timber supply chain operations in Europe achieved remarkable growth, with revenue increasing by 38% to HKD 807,830,000 and operating profit rising by 96% to HKD 30,619,000[25]. - The volume of timber and wood products traded increased by over 493,000 cubic meters, a 50% rise from 329,000 cubic meters in the previous year[25]. - The company is expanding its wood supply chain operations in Europe, establishing new distribution centers and processing projects in Croatia[28]. - The wood supply chain operations have established distribution centers in Slovenia, Romania, and Croatia, enhancing procurement from various European countries and primarily selling to customers in China and other Asian countries[51]. Management and Strategy - The management team in Europe played a crucial role in the significant business development of the timber supply chain operations[25]. - The company is committed to sustainable forest management and responsible sourcing practices as part of its operational strategy[42]. - The wood supply chain operations are supported by an experienced management team with a robust network of suppliers and customers, driving continuous business growth[34]. - The company plans to continue exploring new business opportunities while managing its wood supply chain and lending operations cautiously due to the unpredictable nature of the pandemic[29]. Financial Position - As of March 31, 2021, the company had current assets of HKD 482,030,000 and cash and cash equivalents of HKD 109,198,000, with a current ratio of approximately 1.9, up from 1.5 in the previous year[76]. - The company’s loan and leasing portfolio had a total book value of HKD 283,904,000 as of March 31, 2021, down from HKD 312,425,000 in 2020, reflecting a focus on maintaining credit quality[57]. - The company’s total borrowings of the group amounted to HKD 112,396,000, a decrease from HKD 116,997,000 in 2020, resulting in a capital-to-debt ratio of 49%, down from 59% in the previous year[78]. - The total assets of the group slightly decreased by HKD 22,658,000 or 4% to HKD 536,414,000 as of March 31, 2021, compared to HKD 559,072,000 in 2020[79]. Corporate Governance - The company has complied with all applicable corporate governance code provisions, except for the absence of the chairman at the annual general meeting[157]. - The board consists of six directors, with three executive directors and three independent non-executive directors, ensuring a diverse skill set and experience[161]. - The company has adopted a nomination policy to ensure the suitability of candidates for the board, considering qualifications, experience, and diversity[178]. - The audit committee is responsible for reviewing the effectiveness of the group's risk management and internal control systems[182]. Environmental and Social Responsibility - The company encourages environmental protection and has implemented green office measures, including reducing waste and minimizing greenhouse gas emissions[96]. - The company is committed to regular reviews of its environmental practices to ensure compliance with applicable regulations and to improve its environmental performance[96]. - The company emphasizes the importance of sustainable business practices, particularly in its forest-related operations[96]. Shareholder Information - The company did not recommend any final dividend for the year ended March 31, 2021, consistent with the previous year[119]. - The company’s total issued share capital as of March 31, 2021, was approximately 9,105,709,503 shares, with a significant shareholder holding 26.84%[138]. - The company’s reserves included a share premium of HKD 67,546,000 and retained earnings of HKD 2,938,375,000 as of March 31, 2021[127]. - The company has established multiple communication channels with shareholders, investors, and other stakeholders, including annual general meetings, annual reports, interim reports, announcements, and the company website[199].
信保环球控股(00723) - 2021 - 中期财报
2020-12-29 08:02
Interim Report 2020 中期報告 Reliance Global Holdings Limited 信保環球控股有限公司 | --- | --- | |-----------------|-----------------------| | | | | | | | | | | Reliance Global | | | | | | | Holdings Limited | | | | | | | | | 信保環球控股有限公司* | Interim Report 2020 * For identication purpose only Reliance Global Holdings Limited 信保環球控股有限公司* 中 期 報 告 2020 * 僅 供 識 別 l 175 目錄 3 | --- | |--------------------------------| | | | 公司資料 | | 管理層討論及分析 | | 簡明綜合中期財務報表之審閱報告 | | 簡明綜合損益及其他全面收益表 | | 簡明綜合財務狀況表 | | 簡明綜合權益變動表 | | 簡明綜合現金流量表 | | 簡明綜 ...
信保环球控股(00723) - 2020 - 年度财报
2020-07-29 10:20
Reliance Global Holdings Limited 信保環球控股有限公司* (於百慕達註冊成立之有限公司) ( 股份代號:723) 年 報 2019/20 * 僅 供 識 別 kas 1 公司資料3 主席報告4 管理層討論及分析6 董事及高級管理層履歷 18 董事會報告 22 企業管治報告 30 環境、社會及管治報告 40 獨立核數師報告 58 綜合損益及其他全面收益表 63 綜合財務狀況表 65 綜合權益變動表 67 綜合現金流量表 68 綜合財務報表附註 70 五年財務摘要 156 目錄 信 保 環 球 控 股 有 限 公 司 年 報 2019/20 2 簡稱 於本年報內,除文義另有所指外,下列簡稱具有以下涵義: | --- | --- | --- | |--------------------|-------|--------------------------------------------------------| | | | | | | | | | 「董事會」 | 指 | 本公司之董事會 | | 「本公司」 | 指 | 信保環球控股有限公司 | | 「董事」 | 指 | 本公司之 ...
信保环球控股(00723) - 2019 - 年度财报
2019-07-30 09:22
Financial Performance - The company reported a revenue of HKD 589,114,000 for the fiscal year ending March 31, 2019, a significant increase of 21.7 times compared to HKD 25,920,000 in the previous year[11]. - The profit attributable to the company's owners was HKD 26,372,000, representing a 21% increase from HKD 21,865,000 in the previous year[11]. - Basic earnings per share increased by 16% to HKD 0.29, up from HKD 0.25 in the previous year[11]. - The lending business generated revenue of HKD 22,319,000 and profit of HKD 18,958,000, compared to HKD 5,821,000 and HKD 5,123,000 respectively in the previous year[12]. - The sales of timber and wood products saw revenue of HKD 562,777,000 and profit of HKD 12,134,000, a substantial increase from HKD 16,196,000 and HKD 351,000 in the previous year[12]. - For the fiscal year 2019, the company reported a significant revenue increase to HKD 589,114,000, up 21.7 times from HKD 25,920,000 in 2018[25]. - The net profit attributable to the company's owners for 2019 was HKD 26,372,000, representing a 21% increase from HKD 21,865,000 in 2018[25]. - The lending business generated revenue of HKD 22,319,000, a 2.8 times increase from HKD 5,821,000 in 2018, and profit of HKD 18,958,000, up 2.7 times from HKD 5,123,000[26]. - The sales of timber and wood products saw revenue of HKD 562,777,000, a 33.7 times increase from HKD 16,196,000 in 2018, and profit of HKD 12,134,000, up 33.6 times from HKD 351,000[32]. - The overall profit attributable to the company's owners was HKD 26,372,000 in FY2019, compared to HKD 21,865,000 in FY2018, with basic earnings per share increasing to HKD 0.29 from HKD 0.25[46]. - The company achieved a significant improvement in performance, with total profits from four business segments amounting to HKD 36,500,000, an increase of HKD 27,878,000 or 3.2 times from the previous year[46]. Business Operations - The company has entered into an eight-year cooperation agreement for logging and timber sales in Suriname, covering over 28,000 hectares of forest assets[13]. - The company has commenced logging activities in January 2019, with sales contracts signed for two batches of timber shipped in June 2019[14]. - A new forest project in Suriname, covering approximately 40,000 hectares with an estimated timber resource of 17,200,000 cubic meters, is in the late planning stage[14]. - The company expects continued strong performance in its lending and forest-related businesses for the fiscal year ending March 31, 2020[12]. - The management is optimistic about the profitability of the timber sales project due to high demand from buyers in China, India, and Vietnam[14]. - The company plans to expand its lending business, focusing on residential and commercial mortgage markets, aiming for stable and favorable income sources[31]. - The average loan amount in the lending and financing lease portfolio is approximately HKD 7,900,000, with 85% secured by collateral[34]. - The company has established a high-capacity trading business through effective use of trade credit financing, expecting significant financial returns[33]. - The company plans to expand its lending business, focusing on residential and commercial mortgage markets with loan terms of two to three years, aiming for stable and favorable income sources[37]. - The sustainable forest management business generated revenue of HKD 3,244,000 in FY2019, a 3% increase from HKD 3,153,000 in FY2018, with profit rising 5.8 times to HKD 2,634,000[41]. - Property leasing business provided stable rental income of HKD 774,000 in FY2019, up from HKD 750,000 in FY2018, with a profit of HKD 2,774,000[43]. Financial Position - As of March 31, 2019, the group's current assets increased to HKD 238,063,000 from HKD 150,767,000 in 2018, while cash and cash equivalents rose to HKD 25,433,000 from HKD 24,436,000[48]. - The current ratio significantly dropped to approximately 0.8 from 6.7 in 2018, mainly due to the reclassification of the loan from Champion Alliance as a current liability[48]. - The group's total assets increased by 147% to HKD 470,977,000 as of March 31, 2019, compared to HKD 190,461,000 in 2018[52]. - The equity attributable to owners rose by 19% to HKD 164,930,000 from HKD 138,282,000, driven by profits from debt issuance and forest-related businesses[52]. - The group's capital debt ratio increased significantly to 29% from 8% due to bank borrowings rising to HKD 48,151,000 from HKD 10,848,000[51]. - The group secured a loan financing of HKD 200,000,000 from Champion Alliance to support operational funding needs, primarily for debt issuance and forest-related business development[47]. Risk Management - The group faces significant risks including global economic conditions and competition in the lending and timber sales sectors, which could impact revenue and profitability[64][65]. - The group has implemented management policies to mitigate risks by diversifying its business and investments where applicable[64]. - The group is subject to financial risks related to credit, liquidity, foreign currency, and interest rates, which are managed through established policies[67]. - The company has implemented a risk management system to identify, assess, and mitigate significant risks associated with its business operations[164]. - An independent professional firm was engaged to provide risk management and internal control assessment services for the year ended March 31, 2019[165]. - The board believes that the existing internal control and risk management systems are effective and adequate[167]. Corporate Governance - The company has complied with all applicable provisions of the corporate governance code as of March 31, 2019[136]. - The audit committee reviewed the consolidated financial statements for the year ended March 31, 2019, prior to approval by the board[132]. - The company has adopted the standard code of conduct for securities transactions by directors, confirming compliance for the year ended March 31, 2019[137]. - The board of directors includes independent non-executive directors with extensive experience in finance and accounting, ensuring strong governance[80][81][82]. - The company emphasizes the importance of board diversity for enhancing performance quality[150]. - The company encourages continuous professional development for all directors to enhance their knowledge and skills[141]. - The audit committee held four meetings during the year, with all members attending all sessions[156]. Environmental Commitment - The company is committed to environmental protection and has adopted measures to promote eco-awareness among employees, including reducing greenhouse gas emissions[71]. - The company actively seeks to reduce greenhouse gas emissions and minimize resource consumption through recycling initiatives[196]. - The company's timber and wood product sales operations have minimal direct emissions and environmental impact, primarily arising from office electricity and water usage[198]. - The company has delegated logging rights for its forest assets in Brazil to external operators, who are responsible for logging activities and environmental impacts[198]. - The company has implemented internal controls to ensure effective management of environmental, social, and governance risks[178]. Shareholder Information - The company reported that revenue from its top five customers accounted for approximately 75% of total revenue, with the largest customer contributing about 37%[101]. - The company did not recommend any final dividend for the year ended March 31, 2019, consistent with the previous year[92]. - The company has no provisions in its articles of association regarding preemptive rights for existing shareholders to purchase new shares[97]. - The company has no other distributable reserves as of March 31, 2019, apart from the share premium[100]. - The company has established multiple communication channels with shareholders, including annual general meetings, annual reports, and its website[174]. - The board of directors considers various factors when deciding on dividend recommendations, including actual and expected financial performance, retained earnings, and future expansion plans[175].