Financial Performance - The company's revenue for the year ended June 30, 2021, was approximately HKD 51.1 million, a decrease of 5.2% compared to HKD 53.9 million for the year ended June 30, 2020[16]. - The net loss for the year was approximately HKD 22.0 million, significantly reduced from HKD 81.2 million in the previous year, representing a decrease of about HKD 59.2 million[14]. - The loss attributable to the company's owners for the year was approximately HKD 30.4 million, compared to HKD 85.7 million in the previous year, with a loss per share of HKD 0.02[14]. - The impairment loss on properties, classified as property, plant, and equipment, decreased by approximately HKD 43.7 million compared to the previous year[16]. - The fair value loss on investment properties decreased by approximately HKD 12.5 million compared to the previous year[16]. - Administrative expenses increased by approximately HKD 5.3 million due to the expansion of the lending business[16]. - The gaming and entertainment business generated commission income of approximately HKD 196 million for the year ended June 30, 2021, down from approximately HKD 218 million for the year ended June 30, 2020[18]. - Interest income generated for the year ended June 30, 2021, was approximately HKD 25.9 million, an increase of approximately HKD 2 million from approximately HKD 23.9 million for the year ended June 30, 2020[26]. - The hotel operations business recorded a pre-tax loss of approximately HKD 40.2 million for the year ended June 30, 2021, an improvement compared to a loss of approximately HKD 88.9 million for the year ended June 30, 2020[28]. - The property leasing business reported a pre-tax loss of approximately HKD 18,000 for the year ended June 30, 2021, compared to a loss of approximately HKD 11.8 million for the year ended June 30, 2020[32]. Assets and Liabilities - The total assets less total liabilities amounted to HKD 1,170.7 million as of June 30, 2021[11]. - The company’s equity attributable to owners was HKD 1,162.2 million as of June 30, 2021[11]. - The group’s loan receivables amounted to approximately HKD 107.6 million as of June 30, 2021, a decrease of approximately HKD 312.4 million from approximately HKD 420 million as of June 30, 2020[26]. - The group’s total liabilities amounted to approximately HKD 10.4 million as of June 30, 2021, compared to approximately HKD 9.2 million as of June 30, 2020[35]. - The group has no external funding sources and reported no borrowings as of June 30, 2021[35]. - As of June 30, 2021, the group had cash and bank balances totaling approximately HKD 463.6 million, an increase from approximately HKD 160 million as of June 30, 2020[35]. Business Strategy and Operations - The company remains cautiously optimistic about its diversified strategy to navigate through challenges and achieve sustainable growth in the long term[17]. - The group is focusing on diversifying its business operations beyond gaming, including lending, hotel operations, and property leasing[23]. - The group launched an online loan platform to enhance customer experience and expand its lending business[26]. - The company agreed to acquire 51% of Fast Advance Resources Limited for an initial consideration of HKD 74,220,000[40]. - The valuation of the target company's main assets was RMB 492,700,000, approximately HKD 591,240,000 as of June 30, 2021[40]. - The company has no significant contingent liabilities as of June 30, 2021[43]. - There are currently no specific plans for major investments or acquisitions of capital assets[44]. Corporate Governance - The board of directors has adopted the corporate governance code as per the listing rules, ensuring compliance and effective management practices[63]. - The board consists of 2 executive directors, 1 non-executive director, and 3 independent non-executive directors, ensuring a balance of skills and independence[75]. - The company held 16 board meetings and 1 annual general meeting during the fiscal year ending June 30, 2021, with full attendance from the chairman[82]. - The company emphasizes board diversity, considering factors such as gender, age, skills, and industry experience in its nomination policy[82]. - The independent non-executive directors have confirmed their independence according to the listing rules, ensuring compliance with governance standards[77]. - The company has established a framework for the nomination and reappointment of directors, ensuring alignment with business needs and governance policies[79]. - The chairman and CEO roles are distinct, enhancing the leadership and strategic planning capabilities of the company[76]. - The company is committed to reviewing and enhancing its internal controls and procedures in response to regulatory changes[64]. - The board's composition reflects a necessary balance of skills and experience for effective leadership and decision-making[75]. Risk Management - The company has established a risk management framework that includes risk identification, assessment, management measures, and monitoring[109]. - The credit risk involves the potential inability of borrowers or counterparties to fulfill their payment obligations[109]. - The company’s board is responsible for ensuring the establishment and maintenance of effective risk management[109]. Environmental, Social, and Governance (ESG) Initiatives - The company has engaged professional assistance to prepare its environmental, social, and governance report[127]. - The group operates in four main segments: gaming and entertainment, hotel operations, lending, and property leasing[134]. - The group emphasizes effective communication with stakeholders to understand risks and opportunities[136]. - Key stakeholders include government, shareholders, employees, customers, industry organizations, and the community, each with specific expectations and engagement channels[139]. - The group adheres to the "Environmental, Social and Governance Reporting Guidelines" and reports on key performance indicators[140]. - The management has identified and prioritized significant environmental, social, and governance issues through stakeholder discussions[145]. - The group is committed to corporate social responsibility and has established policies and measures to enhance reporting disclosures[134]. - The company aims to reduce air pollutant emissions by approximately 5% to 15% by 2025[160]. - Total greenhouse gas emissions for the year amounted to 340.38 tons of CO2 equivalent, an increase from 323.45 tons in the previous year[164]. - The company reported a total of 27.06 tons of greenhouse gas emissions from hotel operations, up from 22.59 tons in the previous year[164]. - The company strictly complied with all relevant environmental laws and regulations in Hong Kong during the reporting period[157]. - The board is responsible for overseeing the effectiveness of environmental, social, and governance (ESG) risk management[148]. - The ESG working group conducts annual assessments to identify and prioritize significant ESG issues based on stakeholder feedback[151]. - The company has established a mechanism for ongoing communication with stakeholders to address their concerns regarding ESG matters[151]. - The company has set practical and achievable strategic goals for the next three to five years to align with its aspirations[153]. - The company encourages employees to use alternative communication methods to reduce air pollution from transportation[160]. - The company monitors its environmental performance continuously to minimize negative impacts[157]. - The total energy consumption for the year 2021 was 956.15 MWh, an increase from 904.41 MWh in 2020, primarily due to an increase in local staycation guests[175]. - The company aims to reduce electricity and gas consumption by approximately 15% and 5% respectively by 2025[174]. - The total water consumption for 2021 was 2,516 cubic meters, up from 2,390 cubic meters in 2020, attributed to an increase in local staycation guests[180]. - The company plans to reduce water consumption by approximately 5% by 2025[176]. - The energy consumption density for 2021 was 0.0187 MWh per HKD 1,000 revenue, compared to 0.0168 MWh in 2020[175]. - The company has implemented waste management measures to minimize waste generation and environmental impact, with a focus on recycling and resource conservation[169]. - The company promotes energy-saving strategies, including the use of daylight for lighting and energy-efficient bulbs[174]. - The company has established a green office management initiative to enhance environmental performance and reduce carbon footprint[172]. - The company is committed to integrating environmental, social, and governance (ESG) issues into its operations, including climate change risks[182]. - The company encourages employees to use reusable containers and reduce waste in the workplace[171]. - The company aims to reduce external electricity consumption and gas usage by 15% and 5% respectively by 2025[187]. - The company is implementing a comprehensive energy-saving policy globally to promote genuine carbon reduction[187]. - The company recognizes the risks associated with climate change and is developing new strategies to address these risks[191]. - The company anticipates that increased carbon pricing will lead to higher procurement and operational costs[186]. - The company is monitoring its carbon and energy footprint in daily operations to better understand climate risks and opportunities[192]. - The company has identified acute physical risks from climate change, such as extreme weather events, which may increase operational and maintenance costs[194]. - The company is taking steps to mitigate risks from extreme weather, including backup storage of important documents[194]. - The company plans to maintain energy-efficient practices, such as keeping room temperatures at 25 degrees Celsius[194]. - The company is engaging with government and relevant organizations to stay informed about regulatory and financial changes related to climate risks[191]. - The company is committed to achieving net-zero carbon emissions through strategic responses to energy consumption[187]. - The group faces increased operational costs due to high compliance costs and rising insurance premiums[198]. - Capital investment and R&D expenditures are increasing due to the development of low-carbon energy-saving materials and technologies[198]. - The group is monitoring the latest developments in climate-related environmental policies to avoid unnecessary costs and expenses[198]. - The implementation of stricter environmental, social, and governance reporting standards may require significant time and resources[198]. - The group is assessing the feasibility and benefits of applying the latest low-carbon energy-saving technologies in its operations[198].
金粤控股(00070) - 2021 - 年度财报