廖创兴企业(00194) - 2019 - 年度财报

Financial Performance - Profit for the year attributable to owners of the Company was HK$429,984,000 in 2019, a decrease of 57.6$1,014,267,000 in 2018[7]. - Basic earnings per share decreased to HK$1.14 in 2019 from HK$2.68 in 2018, reflecting a decline of 57.5%[7]. - The Group recorded a profit of HK$446.5 million for the year ended 31 December 2019, representing a decrease of 57$1,276.5 million, down 30% from HK$1,836.2 million in 2018[89]. - The dividend per share for 2019 was HK$0.60, a decrease of 14% from HK$0.70 in 2018[89]. - The dividend payout ratio for 2018 was 53$14,885,044,000 in 2019, up from HK$14,513,521,000 in 2018, representing a growth of 2.57$2,414,824,000 in 2019, an increase from HK$2,116,453,000 in 2018, marking a rise of 14.1$12,470,220,000 in 2019, compared to HK$12,397,068,000 in 2018, showing a slight growth of 0.59$32.94 in 2019, up from HK$32.75 in 2018[7]. Market and Economic Conditions - The overall economic environment in 2019 posed challenges, but the company remains optimistic about future growth opportunities[13]. - In 2019, the global economic growth was 2.9$1.3 billion from the sale of remaining residential units, car parks, and shops in the future[29]. - The management has scheduled to commence construction of the "Elegance Garden" project in Q4 2020, which has a total GFA of 139,515 sq.m.[30]. Rental and Property Management - Gross rental revenue for the year was approximately HK$355 million, a slight decrease of 0.2$355.7 million in 2018[95]. - The overall occupancy rate of major investment properties was maintained at 78.1% as of December 31, 2019[95]. - Rental revenue from Chong Hing Square was approximately HK$113.7 million, slightly down from HK$113.9 million in 2018, with an occupancy rate of 92%[95]. - The rental revenue from Chong Hing Finance Center in Shanghai was approximately HK$127.7 million, representing a decrease of 9.6% due to increased competition and oversupply in the market[108]. Shareholding and Governance - As of December 31, 2019, Mr. Liu Lit Chi holds a total of 201,307,000 shares, representing approximately 53.17% of the issued share capital of the company[50]. - The top 10 largest shareholders held a total of 358,990,935 shares, representing 94.82% of the Company's issued share capital as of December 31, 2019[61]. - The Company has not received any notifications of other shareholders holding 5% or more of the shares as of December 31, 2019, apart from the disclosed interests[54]. - The Company has established various committees, including the Audit Committee and Nomination Committee, to ensure effective governance[138]. Risk Management and Internal Controls - The Company is committed to safeguarding its assets and preventing fraud through proper accounting records and internal controls[65]. - The Audit Committee is responsible for overseeing the relationship with external auditors and reviewing the company's interim and annual financial statements[159]. - The company has established a sound internal control system to safeguard shareholder interests and protect its assets[160]. - The management actively monitors interest rate movements to minimize potential negative impacts on the Group's financial position[123]. Corporate Social Responsibility and ESG - The Group is committed to integrating corporate social responsibility into its corporate ethos while promoting initiatives that benefit the environment, staff, and community[199]. - The ESG report is prepared in accordance with the "Environmental, Social and Governance Reporting Guide" as set out in Appendix 27 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[199]. - The reporting period for the ESG report is from January 1, 2019, to December 31, 2019[199].