Financial Performance - The total net revenue for the year ended December 31, 2020, was 8.81 billion (HKD 68.6 billion) for the year ended December 31, 2019[6]. - The group reported a loss of 2.03 billion (HKD 15.83 billion) for the year ended December 31, 2019[6]. - Adjusted property EBITDA loss for the year ended December 31, 2020, was 3.19 billion (HKD 24.87 billion) for the year ended December 31, 2019[6]. - Total net revenue decreased by 80.8% to 1,170,000,000 in 2020 from 144,000,000 in 2020 from 269,000,000 in 2020 from 861,000,000 as of December 31, 2020, and available credit of $2,020,000,000[71]. Visitor Engagement and Tourism Recovery - The company focused on local tourism recovery during the COVID-19 pandemic, launching initiatives like the "Sands Carnival" to support local tourism and consumption measures[7]. - The total number of visitors to the company's properties in 2020 reached 30.8 million, averaging approximately 84,000 visitors per day[10]. - The company hosted 237 events, attracting around 522,000 visitors, including exhibitions, trade shows, and corporate activities[9]. - The company’s properties offered approximately 1.7 million square feet of meeting and exhibition space, making it a leader in the MICE (Meetings, Incentives, Conferences, and Exhibitions) sector in the region[12]. - The company organized promotional activities in 11 major cities in Greater China to enhance its MICE offerings and attract more visitors[8]. - The company participated in major promotional events in Beijing and Qingdao to promote Macau and its hotels to the Chinese market[8]. - The company achieved significant engagement through live streaming events, with over 13 million views recorded during two "Boss Live" events in collaboration with Ctrip[7]. Operational Adjustments and Digital Transformation - The company accelerated its digital transformation to enhance customer experience and safety, introducing features like electronic room vouchers and contactless ticketing solutions[7]. - Payment transactions via Alipay and WeChat Pay showed a significant recovery in Q4 2020, reaching 90% of the consumption amount from the same period last year[7]. - The company provided approximately 2,000 hotel rooms for quarantine purposes to support the Macao government's COVID-19 response[69]. - The company has implemented cost-cutting measures and capital expenditure reductions to mitigate cash outflows during the current environment[71]. Awards and Recognitions - The company received multiple awards in 2020, recognizing its efforts in customer service and sustainable development[15]. - The company received multiple awards in 2020, including the Forbes Travel Guide Four-Star Rating for the St. Regis Macao and the World Spa Awards for the Best Hotel Spa in Macao[17]. - The Venetian Macao was recognized as the Best Hotel Suite in Macao by the World Travel Awards in 2020[16]. - The company achieved a ranking of 5th in the DestinAsian Readers' Choice Awards for Best Hotel in Macao[19]. Management and Governance - The company has a board of directors consisting of eight members, with four being independent non-executive directors[20]. - Robert Glen Goldstein was appointed as the Chairman and CEO of the company effective January 27, 2021[21]. - The company has a governance framework that emphasizes the importance of good corporate governance in creating shareholder value and managing stakeholder interests[161]. - The board consists of eight directors, including three executive directors and five non-executive directors, ensuring a balanced mix of skills and experience[167]. - The board's responsibilities include setting strategic goals, ensuring resources are available to achieve these goals, and maintaining high ethical standards[165]. Community Engagement and Sustainability - The company is actively involved in community and cultural initiatives, with its president holding several prominent positions in Hong Kong's cultural and film sectors[22]. - The company donated over 650,000 pieces of epidemic prevention materials and provided financial support to 500 underprivileged families[157]. - Sands China has been recognized for its contributions to the community, including providing services to 100 elderly residents for the Lunar New Year and donating 40,000 hygiene kits to families in need in the Philippines[158]. - The company aims to reduce Scope 1 and Scope 2 emissions by 17.5% by 2025 compared to the 2018 baseline[151]. Future Outlook and Strategic Plans - The company aims to accelerate capital investment plans to support Macau's long-term development as a leading leisure and business travel destination in Asia[34]. - The company is optimistic about future growth driven by increasing demand for tourism and entertainment in Asia post-pandemic[36]. - The company plans to expand its Cotai integrated resorts, developing four resorts and additional retail, dining, and entertainment facilities to meet diverse market needs[40]. - The company believes that the Macau market will recover and benefit from significant infrastructure investments in the Greater Bay Area[35]. Risks and Challenges - The company faces potential competition if the Macau government grants additional gaming licenses, as it currently holds one of the three operating rights[43]. - The company’s gaming concession agreement is set to expire on June 26, 2022, and failure to renew it could result in the loss of all gaming revenue from its properties[120]. - The company is exposed to risks related to fraud or cheating by customers, which could adversely affect its financial performance and reputation[118]. - The company faces significant risks related to construction projects, including potential cost overruns and delays due to unforeseen events, which could adversely impact financial performance and cash flow[120].
金沙中国有限公司(01928) - 2020 - 年度财报