股份代號: 01124 發掘 珍貴未來 二零一九 ／二零年報 目錄 | 釋義 | 2 | | --- | --- | | 公司資料 | 4 | | 股權結構及主要業務 | 5 | | 財務摘要 | 6 | | 主席報告 | 8 | | 管理層討論及分析 | 10 | | 環境、社會及管治報告 | 16 | | 董事簡歷 | 28 | | 企業管治報告 | 31 | | 董事會報告 | 45 | | 獨立核數師報告 | 52 | | 綜合損益及其他全面收益表 | 59 | | 綜合財務狀況表 | 61 | | 綜合權益變動表 | 63 | | 綜合現金流量表 | 65 | | 綜合財務報表附註 | 67 | | 主要物業一覽表 | 162 | 目錄 釋義 於本年報內，除文義另有所指外，下列詞彙具有以下涵義： | 「股東週年大會」 | 指 | 本公司股東週年大會 | | --- | --- | --- | | 「董事會」 | 指 | 本公司董事會 | | 「公司細則」 | 指 | 本公司細則 | | 「企業管治守則」 | 指 | 上市規則附錄十四所載企業管治守則 | | 「CIH」 | 指 | Coastal I ...

Financial Performance - Revenue for the six months ended September 30, 2019, was HKD 21,783,000, a decrease of 86.5% compared to HKD 161,841,000 in the same period of 2018[12] - Gross profit for the same period was HKD 2,236,000, down 81.0% from HKD 11,799,000 year-on-year[12] - The company reported a loss attributable to owners of the company of HKD 133,566,000, compared to a profit of HKD 331,213,000 in the previous year[13] - Total comprehensive income for the period was a loss of HKD 429,504,000, compared to a loss of HKD 801,444,000 in the same period last year[13] - The basic and diluted loss per share for the period was HKD 3.22, compared to earnings per share of HKD 7.91 in the previous year[13] - The company reported a pre-tax loss of HKD 206,190,000, compared to a profit of HKD 303,707,000 in the same period last year[58] - The company reported a total comprehensive income loss of HKD 801,444 thousand for the period, compared to a profit in the previous period[21] Assets and Liabilities - Non-current assets as of September 30, 2019, totaled HKD 684,588,000, a slight increase from HKD 679,150,000 as of March 31, 2019[15] - Current assets increased to HKD 8,700,783,000 from HKD 8,024,757,000, reflecting a growth of 8.4%[15] - As of September 30, 2019, total current liabilities increased to HKD 4,559,423 thousand from HKD 3,437,621 thousand as of March 31, 2019, representing a 32.7% increase[16] - Non-current liabilities rose to HKD 155,897 thousand from HKD 166,717 thousand, indicating a decrease of 6.5%[18] - Net assets decreased to HKD 4,670,051 thousand from HKD 5,099,569 thousand, reflecting a decline of 8.4%[18] - The company's equity attributable to owners decreased to HKD 4,577,905 thousand from HKD 4,991,844 thousand, a drop of 8.3%[18] - The total assets less current liabilities stood at HKD 4,825,948 thousand, down from HKD 5,266,286 thousand, a decrease of 8.4%[16] Cash Flow and Liquidity - The company incurred financial costs of HKD 20,508,000, down 30.9% from HKD 29,731,000 in the previous year[12] - The company’s cash and bank balances increased to HKD 80,881,000 from HKD 35,273,000, indicating improved liquidity[15] - For the six months ended September 30, 2019, net cash generated from operating activities was HKD 570,539,000, a significant improvement compared to a net cash used of HKD 2,696,648,000 in the same period of 2018[25] - The company reported a decrease in cash and cash equivalents of HKD 45,904,000, contrasting with a decrease of HKD 879,603,000 in the previous year[26] - The total cash and cash equivalents at the end of the period were HKD 75,062,000, down from HKD 606,525,000 at the end of the previous year[26] Operational Efficiency and Future Outlook - The company is focusing on enhancing its operational efficiency and exploring new market opportunities to drive future growth[19] - The company plans to invest in new product development and technology to improve its competitive position in the market[19] - Future guidance indicates a cautious outlook due to market conditions, with a focus on cost control and strategic investments[19] Accounting Standards and Changes - The company has adopted the new Hong Kong Financial Reporting Standard 16 on leases, which significantly changes the accounting treatment for lessees[31] - The impact of adopting HKFRS 16 resulted in adjustments to the retained earnings at the initial application date, although prior period comparative information was not restated[32] - The adoption of HKFRS 16 has no significant impact on the financial statements for the company[46] Employee and Management Costs - Employee costs for the six months ended September 30, 2019, were approximately HKD 19.9 million, a significant decrease from HKD 50.4 million in the same period of 2018[119] - The group has approximately 153 employees as of September 30, 2019, down from about 178 employees in 2018[119] - Total remuneration for key management personnel was HKD 3,425,000 for the six months ended September 30, 2019, down from HKD 7,206,000 in the same period of 2018, representing a decline of 52.5%[90] Shareholder Information - Major shareholders include Yang Xunxin with a 36.93% stake and Shenzhen Holdings Limited with a 15.22% stake in the company[127] - The company did not recommend the payment of an interim dividend for the six months ended September 30, 2019, compared to no dividend in 2018[133]

Financial Performance - For the fiscal year ending March 31, 2019, the company reported total revenue of HKD 200,508,000, a significant decrease of 88.8% compared to HKD 1,791,404,000 in the previous year[18] - The company recorded a profit attributable to owners of the company of HKD 132,475,000 for the fiscal year 2019, down from HKD 231,077,000 in 2018, representing a decline of 42.7%[18] - Total assets decreased to HKD 8,703,907,000 in 2019 from HKD 15,802,415,000 in 2018, reflecting a reduction of 44.0%[19] - Total liabilities also decreased to HKD 3,604,338,000 in 2019 from HKD 10,194,135,000 in 2018, a decline of 64.7%[19] - The company reported a loss in property development segment of HKD 762,032,000 for 2019, compared to a loss of HKD 97,745,000 in 2018[21] - Rental income increased to HKD 1,904,000 in 2019 from HKD 914,000 in 2018, marking a growth of 108.5%[21] - The company’s financial costs decreased significantly to HKD 48,950,000 in 2019 from HKD 179,653,000 in 2018, a reduction of 72.8%[21] - The company’s interest income decreased to HKD 15,875,000 in 2019 from HKD 73,779,000 in 2018, a decline of 78.5%[21] - The company’s equity attributable to owners decreased to HKD 4,991,844,000 in 2019 from HKD 5,474,403,000 in 2018, a decrease of 8.8%[19] - The company did not declare any dividends for the fiscal year 2019, consistent with the previous years[18] Sales and Contract Performance - Contract sales amounted to HKD 116 million in fiscal year 2019, significantly lower than HKD 4.334 billion in fiscal year 2018[28] - The total construction area for contract sales was approximately 18,000 square meters in fiscal year 2019, compared to 319,000 square meters in fiscal year 2018[28] - The confirmed sales revenue from property sales was HKD 187.7 million, down about 89% from HKD 1.7487 billion, with a total delivered building area of 21,000 square meters, also a decrease of 89%[58] Environmental Impact - The total greenhouse gas emissions decreased from 5,025.29 tCO2 equivalent in 2018 to 115.88 tCO2 equivalent in 2019, representing a reduction of approximately 97.7%[89] - Direct greenhouse gas emissions (Scope 1) dropped from 252.14 tCO2 equivalent in 2018 to 15.36 tCO2 equivalent in 2019, a decrease of about 93.9%[89] - Indirect greenhouse gas emissions (Scope 2) fell from 4,773.15 tCO2 equivalent in 2018 to 100.52 tCO2 equivalent in 2019, a reduction of approximately 97.9%[89] - The total water consumption decreased significantly from 53,681.27 tons in 2018 to 1,253.29 tons in 2019, a reduction of about 97.7%[98] - The company promoted recycling, with paper recycling amounting to 20.42 kg in 2019 compared to 38.03 kg in 2018, indicating a decrease of approximately 46.8%[92] - The company reported a significant reduction in hazardous waste, with fluorescent tube disposal decreasing from 2,795 units in 2018 to 273 units in 2019, a reduction of about 90.2%[92] - The company implemented energy-saving measures, with electricity consumption reported at 15.73 MWh in 2019, down from 11,591.17 MWh in 2018, indicating a substantial decrease[96] Corporate Governance - The board consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors[154] - The company emphasizes the importance of good corporate governance practices and has adopted the corporate governance code[150] - The chairman and CEO roles are held by the same individual, Jiang Ming, which deviates from the corporate governance code but is deemed not to harm the balance of power[150] - The company has confirmed that all directors complied with the standard code of conduct for securities trading during the reporting period[152] - The board will regularly review its composition to ensure it possesses the necessary expertise and experience to meet the group's business needs[154] Employee Management - Employee costs for the fiscal year were approximately HKD 99 million, an increase from HKD 86 million in 2018, with a significant reduction in employee count from 250 to 152[80] - The company has established a comprehensive performance evaluation system to guide work details and identify both underperforming and high-performing organizations and employees[112] - The company provides various employee benefits, including major accident insurance, annual health check-ups, and holiday benefits, and was recognized as one of the "Best Employers in China" for 2007-2008[115] - The company emphasizes employee health and safety, providing free annual health check-ups and accident insurance[119] - The company implements a comprehensive training management system to enhance employee development and skills[120] Risk Management - The company faces significant operational and financial risks due to its concentration in the Chinese property market, which is influenced by political, social, economic, and legal factors[197] - Financial risks related to currency, interest rates, credit, and liquidity are present in the company's daily operations, with detailed management policies outlined in the financial statements[198] - The company emphasizes the importance of feasibility studies and risk appetite assessments before land or project acquisitions to minimize investment risks[197] - The company regularly reviews its internal control systems and has not identified any significant issues that would adversely affect its risk management effectiveness[196] Social Responsibility - The company actively contributes to the construction of local housing security systems in cities like Beijing and Anshan, addressing urgent housing needs for low-income groups[133] - The company has donated several million RMB to various social welfare programs over the past 28 years, including significant contributions to the China Youth Development Foundation and the Tsinghua University Scholarship Program[136] - The company has committed to building harmonious and sustainable communities, focusing on understanding residents' needs through effective communication mechanisms[133] - The company has a core value of social responsibility, integrating it into its operations since its establishment[136]