天安(00028) - 2020 - 年度财报

Financial Performance - The Group's revenue for the year ended December 31, 2020, was HK$2,359.4 million, an increase of 6% compared to HK$2,221.9 million in 2019[8]. - Profit attributable to owners of the Company decreased by 54% to HK$618.0 million from HK$1,345.9 million in 2019, primarily due to a decrease in the share of results of joint ventures by HK$560.2 million[8]. - Earnings per share for 2020 amounted to HK$0.41, down from HK$0.89 in 2019, while the net asset value per share was HK$17.10, compared to HK$16.16 in 2019[8]. - The Board declared an interim dividend of HK$0.20 per share for the year ended December 31, 2020, consistent with the interim dividend declared in 2019[8]. - The Group experienced a decrease in fair value of investment properties by HK$166.5 million, compared to an increase of HK$246.6 million in 2019[8]. - The company reported a loss of HK$56.7 million for the year ended December 31, 2020, compared to a profit of HK$58.0 million in 2019[15]. - Revenue from property development increased from HK$1,543.1 million in 2019 to HK$1,740.2 million in 2020, reflecting a growth of approximately 12.8%[36]. - Rental income decreased from HK$513.8 million to HK$477.4 million, representing a decline of about 7.1%[41]. Operational Challenges and Strategies - The Group's operational review highlighted challenges faced in joint ventures and investment properties, impacting overall profitability[8]. - Future outlook includes a focus on strategic investments and potential market expansions to recover from the current downturn[8]. - The financial summary indicates a need for strategic adjustments to improve performance in the upcoming fiscal year[6]. - The company plans to adjust the quality of its landbank through acquisitions and disposals to balance short-term returns and long-term capital appreciation[16]. - The company aims to responsibly increase project leverage rather than overutilizing equity to enhance return on equity[16]. - The company will focus on developing cyberparks and urban renewal projects, which are expected to be well-received by the government and local market[16]. Landbank and Development Projects - The Group's landbank totals approximately 10,590,700 m², with 5,972,400 m² attributable to the Group, including 920,400 m² of completed investment properties and 5,052,000 m² under development[46]. - Total attributable registered sales for 2020 amounted to 406,200 m², an increase of 120% compared to 184,400 m² in 2019[15]. - Total attributable gross floor area completed in 2020 was approximately 210,000 m², a decrease of 57% from 487,600 m² in 2019[15]. - Total attributable gross floor area under construction at year-end 2020 was approximately 1,647,400 m², representing a 74% increase from 947,800 m² in 2019[15]. - The Group's properties under development in Southern China total 1,414,100 m², with 782,300 m² for commercial use and 631,800 m² for residential use[47]. Financial Position and Borrowings - As of December 31, 2020, the total bank balances and cash reserves of the Group were approximately HK$4,893.5 million, an increase from HK$3,546.6 million in 2019[49]. - The total borrowings of the Group amounted to approximately HK$8,122.2 million, up from HK$6,715.3 million in 2019, with a gearing ratio of 12%[49]. - Approximately 67% of the Group's outstanding borrowings will mature within 2 years, with most bank borrowings denominated in Renminbi[49]. - The Group intends to obtain bank borrowings with reasonable pricing terms to maintain flexible cash flow for land acquisition and project development[49]. - The increase in finance costs is mainly due to the increase in borrowings[49]. Corporate Governance - The company emphasizes high standards of corporate governance, focusing on transparency, accountability, and independence[114]. - The Board has had four Independent Non-Executive Directors (INEDs) representing not less than one-third of the Board throughout the year[122]. - The Board's responsibilities include overall strategy, annual operating budget, and approval of Directors' appointments[125]. - The Company has adopted a board diversity policy in December 2013 to achieve balanced diversity at the Board, considering criteria such as gender, age, and professional experience[132]. - The roles of Chairman and Chief Executive are clearly separated, with Mr. Lee Seng Hui as Chairman and Mr. Patrick Lee Seng Wei as Chief Executive, ensuring effective governance[134]. Sustainability and Environmental Practices - The Company has adopted a Sustainability Policy that encompasses principles in employment, business integrity, and environmental and community responsibilities[173]. - The Group is committed to preventing/minimizing air and greenhouse gas emissions, discharges into water and land, and the generation of hazardous and non-hazardous waste[176]. - The Group focuses on efficient use of resources, including energy, water, and other raw materials[176]. - The Group's total electricity consumption in 2020 was approximately 18.7 million kWh, down from 28.5 million kWh in 2019[179]. - The Group encourages the use of energy-saving systems and facilities, such as solar panels and LED lights, in its property development projects[180]. Employee Welfare and Training - The Group employs 1,337 staff, a decrease from 1,427 in 2019, indicating a focus on efficiency in resource consumption[179]. - Employee training totaled 3,984 hours in 2020, down from 5,000 hours in 2019[191]. - The Group emphasizes a culture of continuous learning, with training programs designed to meet workplace demands[191]. - The Group provides a safe and pleasant working environment, along with well-being programs promoting work-life balance[186]. - The Group actively prevents child and forced labor as part of its employment policy[186].