新世纪集团(00234) - 2020 - 年度财报

Financial Performance - Revenue for 2020 was HK$145.4 million, a decrease of 16.0$173.0 million in 2019[12]. - Profit attributable to owners of the Company was HK$15.5 million in 2020, down from HK$47.5 million in 2019, representing a decline of 67.4%[13]. - Earnings per share decreased to HK$0.27 in 2020 from HK$0.82 in 2019, a drop of 67.1%[14]. - Revenue for the year decreased by 16.0% to HK$145,364,000, while profit attributable to owners dropped 67.4$15,461,000[21]. - The decrease in revenue was mainly due to a drop in charter service income from HK$79,011,000 to HK$64,175,000 and a decrease in interest income from HK$73,598,000 to HK$70,636,000[44]. - The Group recorded net fair value losses of HK$24,634,000 for investment properties in Hong Kong and Singapore, compared to fair value gains of HK$7,554,000 last year[45]. - The property investments segment recorded a loss of HK$9,146,000 for the Year (2019 (Restated): profit of HK$23,891,000)[59]. - The securities trading segment recorded a loss of HK$8,746,000 for the Year, an increase of 158.8$3,379,000 last year[77]. Business Operations - The Group focuses on cruise ship charter services, property investments, securities trading, and money lending[10]. - Charter service income dropped by 18.8% to HK$64,175,000 due to the impact of COVID-19 and operational suspensions[23]. - The occupancy rate for Hong Kong and Singapore investment properties achieved 96.9$55,714,000 for the Year, compared to HK$56,518,000 in the previous year[53]. Acquisitions and Investments - The acquisition of 60$70,636,000[21]. - The Group completed the acquisition of 60% equity interest in ETC for a total consideration of HK$497,640,000, which has become an indirect non-wholly owned subsidiary[38]. - The Group's equity investments at fair value through profit or loss amounted to HK$14,119,000 as of 31 March 2020 (2019: HK$27,984,000)[69]. - ETC's total loan portfolio was approximately HK$632,554,000 as of September 30, 2020, comprising secured mortgage loans and unsecured personal loans[97]. Corporate Governance - The company is committed to enhancing its corporate governance and environmental, social, and governance practices[2]. - The Company has complied with all code provisions of the Corporate Governance Code for the year ended March 31, 2020[118]. - The Board of Directors is committed to maintaining high standards of corporate governance practices[117]. - The Company has established three board committees: Remuneration Committee, Nomination Committee, and Audit Committee, with clearly defined written terms of reference[130]. - The Company ensures that no director is involved in deciding his own remuneration[136]. - The Company has developed, reviewed, and monitored the code of conduct and compliance manual applicable to employees and directors[185]. Risk Management - The company anticipates continued adverse factors and uncertainty due to escalating Sino-US tensions and social unrest[26]. - The Company will continue to monitor uncertainties, including COVID-19, and take measures to mitigate impacts on business operations[34]. - The Group's total indebtedness, which includes loans from a non-controlling shareholder, was HK$178,945,000 as of March 31, 2020[79]. - The liquidity risk is considered manageable by the management, utilizing a recurring liquidity planning tool[95]. - The Board has conducted a review of the effectiveness of the Group's risk management and internal control systems, considering them effective and adequate[199]. Employee and Director Matters - The Group's employee benefits include a mandatory provident fund scheme, medical insurance, share option scheme, and discretionary bonuses[96]. - The Company is in the process of identifying a suitable candidate with appropriate experience to be the Chief Executive Officer[131]. - The attendance record of directors at various meetings indicates high engagement, with most executive directors attending over 80% of meetings[176]. - The Company Secretary, Ms. Ng, received no less than 15 hours of relevant professional training during the year[200].