Financial Performance - The audited consolidated net loss for the year ended September 30, 2024, was approximately HKD 597.1 million, compared to a net loss of HKD 181.7 million in 2023[8]. - The group reported a revaluation loss on investment properties of approximately HKD 626.5 million, up from HKD 214.9 million in the previous year[8]. - The net loss attributable to the group's operating activities, excluding non-operating items, was approximately HKD 41 million, compared to HKD 12 million in 2023[8]. - The company's revenue for the fiscal year 2023 was HKD 5,524 million, representing a 3.5% increase compared to HKD 5,482 million in 2022[28]. - The operating profit attributable to shareholders for 2023 was HKD 154 million, a decrease from HKD 164 million in 2022, indicating a decline of approximately 6.1%[28]. - Future guidance indicates a projected revenue growth of 5% for the fiscal year 2024[28]. Rental Income and Property Management - Rental income from residential properties increased by 5.9%, while rental income from commercial and industrial properties decreased by 5.5%[11]. - The average office rent in Hong Kong has decreased, impacting the rental income from commercial properties[11]. - Rental income from the residential units in Beijing's Chaoyang District decreased by 1% compared to the same period last year[21]. - The group anticipates changes in the tenant mix, particularly from expatriates, due to government talent programs attracting overseas talent[11]. - The performance of Elephant Holdings, which accounted for approximately 23% of the group's total revenue, declined due to lower gross margins and sales volume[13]. - The group aims to maintain stable operating income levels despite challenges in the Hong Kong economy, focusing on long-term tenant relationships and strategic upgrades[23]. Investment and Financial Strategy - The group has invested HKD 34.9 million in the TKO Fund, with an investment valuation of HKD 33 million as of September 30, 2024[16]. - The group has committed USD 7.5 million to the Adams Street Private Income Fund LP, with an investment valuation of USD 5.1 million as of September 30, 2024[17]. - The group has committed USD 2 million to the Hundreds SH Fund LP, with a withdrawal of USD 900,000 and an investment valuation of USD 600,000 as of September 30, 2024[18]. - The group plans to actively allocate financial resources to identify and invest in financial instruments with favorable risk-adjusted return potential[25]. - The group is monitoring external conditions closely to adapt flexibly to changes in the market environment[25]. Sustainability and ESG Initiatives - The company is committed to sustainable development through four pillars: smart technology, healthy development, green initiatives, and community orientation[56]. - The company has received multiple recognitions for its efforts in sustainable development from various reputable organizations[50]. - The company has established a governance framework for environmental, social, and governance (ESG) risk management, overseen by the board of directors[62]. - The company identifies and assesses significant ESG-related risks, including climate-related risks and supply chain risks, with a focus on effective risk management[67]. - The company has achieved a total greenhouse gas emissions density (Scope 1 and 2) of 11.85% calculated per working day[53]. - The company has implemented smart energy-saving IoT systems in properties, allowing tenants to monitor and control their environments via mobile devices[57]. Employee and Workplace Policies - The company has implemented family-friendly arrangements and support programs, including paid family leave and flexible working hours[53]. - The company emphasizes a zero-tolerance policy towards child labor and forced labor, ensuring compliance through strict recruitment practices[115]. - The company has established emergency preparedness procedures to prevent accidents and promote safety in the workplace[110]. - The company provides diverse training programs to enhance employee awareness of occupational health, safety, and sustainability[57]. - The company has implemented policies to ensure a safe working environment and compliance with relevant laws and regulations[162]. Corporate Governance - The board consists of six members, with independent non-executive directors making up 50% of the board, exceeding the requirement of one-third[175]. - The company has adopted all corporate governance code provisions as per the Hong Kong Stock Exchange listing rules[171]. - The nomination committee ensures a balanced gender, age, cultural, and educational background among board members to enhance diversity[183]. - The company has implemented a board diversity policy, emphasizing the importance of diverse backgrounds, including gender, age, culture, and professional experience, to maintain competitive advantage[192]. - The company maintains a commitment to transparency in its remuneration policies, ensuring that directors do not participate in decisions regarding their own compensation[198].
博富临置业(00225) - 2024 - 年度业绩