Financial Performance - The company reported a loss attributable to equity holders of HKD 28.2 million for the year 2021, compared to a profit of HKD 124.7 million in 2020, representing a significant decline[1]. - Earnings per share for 2021 was HKD (0.05), down from HKD 0.20 in 2020, indicating a substantial drop in profitability[1]. - The group reported a current asset net value of HKD 6,592.7 million in 2021, down from HKD 7,007.3 million in 2020[31]. - The group recorded a loss attributable to equity holders of HKD 282 million, a significant decline from a profit of HKD 1.247 billion in the previous year, mainly due to reduced interest income and a 92% decrease in the performance of a major associate, Consolidated Hotels Limited[93]. - The company’s total comprehensive loss for the year was HKD 25.2 million in 2021, compared to a total comprehensive income of HKD 125.8 million in 2020[106]. - The company reported a total equity of HKD 6,822.9 million in 2021, down from HKD 6,996.3 million in 2020, reflecting a decrease of approximately 2.48%[104]. - The company’s total liabilities totaled HKD 472.4 million as of March 31, 2021, compared to HKD 345.5 million in 2020, indicating an increase of 36.8%[169]. Dividends - The company maintained its dividend at HKD 0.24 per share, consistent with the previous year[1]. - The financial summary indicates no change in dividend distribution despite the loss reported[1]. - The group declared an interim dividend of HKD 0.12 per share, totaling HKD 74.1 million, on January 5, 2021[15]. - The board proposed a final dividend of HKD 0.12 per share, also totaling HKD 74.1 million, for shareholders registered on September 7, 2021[15]. - The total dividend for the year is HKD 0.24 per share, consistent with the previous year's dividend[94]. Assets and Liabilities - Total equity decreased by 2% to HKD 6,822.9 million from HKD 6,996.3 million in the previous year[1]. - The group's total assets less current liabilities were HKD 10,086.7 million in 2021, compared to HKD 10,374.7 million in 2020[31]. - The total assets as of March 31, 2021, amounted to HKD 7,468.7 million, up from HKD 7,168.4 million in 2020[169]. - Current liabilities increased from HKD 191.5 million in 2020 to HKD 293.0 million in 2021, representing an increase of about 53.0%[103]. - Non-current liabilities decreased from HKD 280.9 million in 2020 to HKD 52.5 million in 2021, a significant reduction of approximately 81.3%[103]. Cash Flow and Liquidity - As of March 31, 2021, the group's net cash after deducting loans was HKD 1.907 billion, down from HKD 3.392 billion the previous year[35]. - Cash and cash equivalents decreased from HKD 3,542.6 million at the beginning of the year to HKD 1,980.4 million at the end of the year, a reduction of approximately 44.0%[107]. - The group’s liquidity is supported by existing cash, internally generated cash, and bank borrowings as needed[34]. - The group maintains a strong cash position and a very low debt-to-asset ratio, indicating overall financial stability despite the operational challenges faced during the year[93]. Environmental Initiatives - The group has implemented measures to reduce greenhouse gas emissions, primarily from electricity consumption, and has adopted a climate change policy as of March 2021[75]. - The total greenhouse gas emissions decreased from 14,052.36 tons CO2 equivalent in 2020 to 8,854.54 tons in 2021, representing a reduction of approximately 37.5%[91]. - The total electricity consumption decreased from 23,428.58 MWh in 2020 to 17,785.34 MWh in 2021, a reduction of about 24.1%[91]. - The group promotes water conservation and has adopted measures to reduce water usage, recognizing water as a precious resource[78]. - The group has committed to sustainable development principles and compliance with applicable environmental laws and regulations[74]. Employee Welfare and Development - The group employs a total of 168 staff in Hong Kong and the United States, with employee expenses (excluding director remuneration) amounting to HKD 59.6 million for the fiscal year ending March 31, 2021[41]. - The group provides attractive compensation and benefits, including medical insurance and a mandatory provident fund plan, to retain talent[81]. - The group has been recognized as a "Good Employer" by the Labour Department for its commitment to employee welfare[81]. - The group invests in employee training and development, providing resources for continuous professional development and onboarding training for new hires[84]. Governance and Risk Management - The board of directors consists of a balanced mix of executive and non-executive members, ensuring diverse skills and experiences relevant to the group's operations[48]. - The company has established policies to manage various financial risks, which are regularly reviewed to align with market changes and regulatory requirements[39]. - The group’s financial risk management focuses on minimizing potential adverse impacts on financial performance due to market unpredictability[152]. - The group maintains a conservative level of debt-to-equity ratio to monitor its capital structure, with total equity reported at HKD 6,822.9 million in 2021[157]. Revenue and Sales Performance - The group's revenue increased by 72% to HKD 738 million for the fiscal year ending March 31, 2021, compared to HKD 430 million in the previous year, primarily due to growth in property sales[93]. - The total revenue for the fiscal year ending March 31, 2021, was HKD 738 million, an increase from HKD 430 million in the previous year, representing a growth of 71.4%[101]. - The gross revenue from property sales was HKD 59.0 million in 2021, compared to HKD 30.6 million in 2020, indicating an increase of 93.5%[164]. - The company’s revenue from the United States was HKD 62.8 million in 2021, significantly higher than HKD 32.1 million in 2020, marking an increase of 95.5%[167].
TAI CHEUNG HOLD(00088) - 2021 - 年度财报