HK FERRY (HOLD)(HK:00050)2019-04-17 13:27Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the latest financial year, reaching HKD 1.2 billion[3]. - The company's revenue for 2018 was HKD 1,089 million, representing a 143.1% increase from HKD 448 million in 2017[46]. - Shareholders' profit attributable to the company was HKD 345 million, up 10.9% from HKD 311 million in the previous year[46]. - The basic earnings per share increased to HKD 0.97, reflecting an 11.5% growth from HKD 0.87 in 2017[46]. - The group's consolidated profit after tax for the year ended December 31, 2018, was approximately HKD 345 million, an increase of 11% compared to HKD 311 million in 2017[59]. - Earnings per share for the year were HKD 0.97, up from HKD 0.87 in the previous year[59]. - The board has set a performance guidance of 12% growth in net profit for the next financial year, reflecting confidence in ongoing projects and market conditions[9]. Market Expansion and Strategic Initiatives - Future outlook includes plans for market expansion into new regions, aiming for a 20% increase in market share over the next three years[5]. - The company is investing in new product development, with a budget allocation of HKD 100 million for innovative technologies in the upcoming fiscal year[6]. - A strategic acquisition is planned to enhance operational capabilities, with an estimated investment of HKD 500 million[7]. - The company is focused on expanding its market presence and enhancing its product offerings through strategic initiatives[46]. Customer Engagement and Satisfaction - The management highlighted a 10% increase in user data engagement, indicating a positive trend in customer interaction and satisfaction[4]. - The group regularly conducts customer satisfaction surveys to gather feedback and improve service performance[100]. - The company is exploring partnerships with technology firms to enhance service delivery, which is expected to increase efficiency by 15%[10]. Environmental, Social, and Governance (ESG) Practices - The company aims to improve its environmental, social, and governance (ESG) practices, targeting a 30% reduction in carbon emissions by 2025[8]. - The group is committed to integrating sustainable development elements into daily operations and has conducted carbon audits for two subsidiaries with high fuel consumption since 2011[93]. - The group upgraded one of its vehicles to meet the new EU Stage 6 emission standards as part of its efforts to improve roadside air quality[93]. - The group has installed a second rainwater collector at its shipyard to further reduce water consumption[93]. Shareholder Information - As of December 31, 2018, Dr. Li Ka-shing holds a total of 119,816,310 shares, representing approximately 33.63% of the total issued shares[142]. - Mr. Li Ning holds 119,017,090 shares, which accounts for approximately 33.41% of the total issued shares[139]. - The company has a significant shareholder, Henderson Land Development Company Limited, with 119,017,090 shares, also representing 33.41% of the total issued shares[139]. - The total number of shares held by major shareholders exceeds 50% of the total issued shares, indicating strong control over the company[139]. Corporate Governance - The company is committed to maintaining high standards of corporate governance, as detailed in the corporate governance report[188]. - The board believes that good corporate governance practices are fundamental to effective management and enhancing shareholder value[194]. - The company has adhered to the corporate governance code provisions as of December 31, 2018[194]. - The board has established several committees, including audit, remuneration, and nomination committees, to assist in fulfilling its functions[197]. Operational Highlights - The joint venture project in Tuen Mun, which the group holds a 50% stake, is progressing well and consists of six residential buildings providing approximately 1,635 units with a total floor area of about 663,000 square feet, expected to be completed in 2022[2]. - The group achieved a profit of approximately HKD 238 million from the sale of residential units in various projects, including "海柏匯" which was fully sold by the end of 2018[62]. - The group's gross rental income from shops was approximately HKD 99 million, with occupancy rates for "港灣豪庭" and "逸峯廣場" at 99% and 91% respectively[66]. - The group won a land bid for a redevelopment project in Kowloon, covering an area of approximately 16,038 square feet, with a total floor area of about 144,345 square feet planned[66].