Financial Performance - Total revenue for 2019 was HK$ 6,893 million, representing a 1.2% decrease from 2018[8] - Profit for the year decreased by 28.0% to HK$ 699 million compared to 2018[9] - Earnings per share fell by 27.9% to HK$ 2.17 from HK$ 3.01 in 2018[10] - Dividends per share decreased by 71.4% to HK$ 0.50 from HK$ 1.75 in 2018[12] - Total segment revenue, including associates and joint ventures, increased by 3% to HK$9,563 million from HK$9,301 million[44] - Profit for the year ended March 31, 2019, increased by 67% to HK$699 million, excluding one-off gains from disposals[44] - Profit attributable to the Company's shareholders was HK$655 million, down from HK$908 million in the previous year, with earnings per share at HK$2.17 compared to HK$3.01[44] Assets and Liabilities - Total equity increased by 3.3% to HK$ 9,642 million from HK$ 9,336 million in 2018[6] - Total assets rose to HK$ 17,093 million, up from HK$ 16,105 million in 2018[27] - Total liabilities increased to HK$ 7,451 million from HK$ 6,769 million in 2018[27] - The carrying value of investment properties decreased by HK$21 million to HK$3,770 million as of March 31, 2019, mainly due to the transfer of a property to assets held for sale[59] - The carrying value of property, plant, and equipment increased by HK$376 million to HK$3,161 million as of March 31, 2019, resulting from the acquisition of ten senior housing properties in the US[59] Revenue by Segment - Segment revenue from construction and engineering was HK$ 4,262 million, an increase from HK$ 4,175 million in 2018[28] - Healthcare investment segment revenue rose to HK$ 866 million from HK$ 598 million in 2018[28] - The Construction and Engineering segment's revenue increased by 2% to HK$4,262 million, while segment profit rose by 71% to HK$294 million[44] - Property Investment segment revenue increased by 3% from HK$136 million to HK$140 million, while profit decreased by 4% from HK$279 million to HK$269 million[47] - Property Development and Operations segment revenue decreased by 8% from HK$1,105 million to HK$1,021 million, and profit decreased by 75% from HK$859 million to HK$218 million[49] Market Outlook and Opportunities - The integration of Hong Kong, Macau, and nine cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is expected to sustain high demand for housing[36] - The Group anticipates numerous opportunities in construction, engineering, property investment, and development due to stable home prices and the end of the current interest rate hike cycle[36] - The demand for healthcare services is expected to grow due to the ageing population and increased health awareness, contributing steady income for the Group[40] - The Group plans to seek investment opportunities in medical office buildings to meet the rising demand for outpatient healthcare services in the United States[40] - Some large-scale public works projects are pending funding approval from the Legislative Council of the HKSAR, which may impact the construction industry[36] Corporate Governance - The Company is in compliance with the corporate governance code provisions, except for deviations regarding the roles of the Chairman and Chief Executive[129] - The Board comprises five Executive Directors, two Non-Executive Directors, and four Independent Non-Executive Directors, meeting six times during the year[131] - The Company has made efforts to comply with increasingly stringent regulatory requirements in corporate governance[130] - The Audit Committee reviews the effectiveness of the Group's risk management and internal control systems annually, covering financial, operational, and compliance controls[172] - The Company aims to maintain a diverse Board based on various perspectives including skills, experience, and gender[159] Sustainability and Corporate Social Responsibility - The Group is committed to high standards of corporate social responsibility and compliance with relevant laws and regulations, focusing on environmental and social reporting[199] - The Group believes in environmental protection and engages in various charitable initiatives to contribute positively to society[199] - The Group's commitment to sustainability is essential for its development and the viability of its business[199] - The Group recorded carbon emissions primarily from its construction sites[200] Management and Leadership - Miss Lily Chow has been with Chevalier Group since 1990 and is responsible for strategic planning and business development[93] - The management profile highlights a blend of academic and practical experience, positioning the company for informed decision-making and strategic growth[109] - The Company provides continuous professional development for Directors to ensure their contributions remain informed and relevant[137] - The Executive Committee, established in 1991, is responsible for implementing business strategies and managing daily operations[166] Financial Management - The Group's liquidity and financing requirements are frequently reviewed to ensure sufficient financial resources for ongoing operations and future expansion[75] - The Group's treasury policies are conservative, focusing on cash and financial management to minimize cost of funds[76] - The Group's cash management policy emphasizes prudent treasury management to achieve better risk management and lower capital costs[78]
CHEVALIER INT'L(00025) - 2019 - 年度财报