Financial Performance - For the financial year ended 30 June 2022, the Group reported total revenue of HK$86,892,000, a slight increase from HK$86,719,000 in 2021[11]. - Gross profit for the year was HK$61,927,000, reflecting a 6% increase compared to HK$58,614,000 in the previous year, with a gross profit margin improvement to 71% from 68%[11]. - The profit attributable to shareholders was HK$31,152,000, a significant increase of approximately 321% from a loss of HK$14,065,000 in 2021, with basic earnings per share of HK$0.131[13]. - The overall revenue and results were primarily derived from property rental operations in mainland China, benefiting from improved infrastructure and stable business conditions before the pandemic resurgence[19]. - The significant rise in profit indicates a recovery trajectory for the Group following the previous year's losses[13]. Comprehensive Income and Expenses - The other comprehensive expense amounted to HK$60,881,000, compared to other comprehensive income of HK$198,816,000 in 2021, resulting in total comprehensive expense attributable to shareholders of HK$28,574,000[14]. - The Group's comprehensive expense due to exchange differences amounted to HK$60,881,000, compared to other comprehensive income of HK$198,816,000 in the previous year[30]. - The fair value decrease of investment properties recognized in profit or loss amounted to HK$1,006,000[136]. Investment Properties - The Group recognized a decrease in the fair value of investment properties totaling HK$17,223,000, down from HK$22,069,000 in the previous year[12]. - The fair value of the Group's investment properties depreciated by RMB14,267,000, translating to HK$17,223,000, compared to RMB18,800,000 in 2021[21]. - The Group's investment properties include shopping malls, car parks, and office units, with performance impacted by subdued market sentiment[21]. - As of June 30, 2022, the Group's investment properties amounted to HK$2,005,063,000, representing approximately 75% of the Group's total assets[198]. Rental Income - The rental income from investment properties in mainland China improved, contributing to the overall gross profit margin increase[11]. - The Group's rental income from investment properties in Shanghai and Beijing was RMB71,978,000, a decrease of 3% compared to RMB73,874,000 in 2021, with total revenue presented as HK$86,892,000[20]. - In Beijing, rental income from the community mall improved, totaling RMB26,675,000, a 7% increase year-on-year, accounting for 37% of total revenue[23]. - In Shanghai, rental income decreased by 7% to RMB45,303,000, representing 63% of total revenue, with an average occupancy rate of 87%[23]. Dividends - The Board has recommended a final dividend of 0.5 Hong Kong cents per share, down from 1 Hong Kong cent in 2021, resulting in a total dividend of 1 Hong Kong cent per share for the year[18]. - The total dividend is subject to approval at the upcoming annual general meeting scheduled for December 9, 2022[18]. - The Group's retained earnings available for distribution to shareholders amounted to HK$146,385,000 as of June 30, 2022[140]. Financial Position - As of June 30, 2022, the equity attributable to owners amounted to RMB 1,825,456,000, an increase from RMB 1,802,869,000 on June 30, 2021, with a net asset value per share of RMB 7.70[28]. - Total bank borrowings were approximately HK$ 91,833,000 as of June 30, 2022, down from HK$ 95,667,000 on June 30, 2021, with a gearing ratio of 4.3%[30]. - The net current assets amounted to HK$ 112,553,000 with a current ratio of 1.48 as of June 30, 2022, compared to 2.28 a year earlier[31]. Management and Governance - The Board of Directors comprises six Executive Directors and four Independent Non-executive Directors, ensuring more than one-third of the Board is independent[62]. - The Company has established an Internal Corporate Governance Code to facilitate compliance with the Corporate Governance Code[60]. - The Company has adopted a code for securities transactions by Directors, confirming compliance by all Directors for the year ended 30 June 2022[61]. - The Company has received annual written confirmations of independence from all Independent Non-executive Directors, affirming their compliance with independence guidelines[77]. Market Conditions and Risks - The resurgence of COVID-19 in Beijing is expected to impact retail market consumption and leasing demands, but recovery is anticipated once the pandemic is under control[36]. - The ongoing threat of COVID-19 has led to a slow economic recovery and a downward trend in rental performance, creating market uncertainty[131]. - The uncertain economic environment in China due to the COVID-19 pandemic may weaken customer spending power, adversely affecting the property leasing market[135]. Stakeholder Relations - The Group has established a close relationship with stakeholders, including shareholders, employees, and customers, to enhance collaboration[130]. - The Company maintains communication with shareholders through various channels, including annual general meetings and corporate communications on its website[105]. Audit and Compliance - The independent auditor's report confirms that the consolidated financial statements present a true and fair view of the Group's financial position as of June 30, 2022[193]. - The Audit Committee is responsible for reviewing the financial reporting system and the effectiveness of the audit process[94]. - The Group's risk management and internal control systems are continuously monitored and reviewed by the Board to ensure effectiveness[96].
达力集团(00029) - 2022 - 年度财报