Financial Performance - Revenue for the year ended June 30, 2019, was HK$201,541,000, a significant increase from HK$68,350,000 in 2018[5] - Profit attributable to the owners of the Company was HK$572,899,000, compared to HK$606,619,000 in the previous year, reflecting a decrease of approximately 5.5%[5] - Earnings per share for 2019 was HK$0.99, down from HK$1.10 in 2018, indicating a decline of about 10%[5] - The consolidated profit after income tax for the year ended 30 June 2019 is HK$601,653,000, a decrease of 1.7% compared to HK$611,607,000 in 2018[39] - Gross profit for the year was HK$146,206,000, reflecting a 227.7% increase from the previous year[188] - Rental income increased by 31.0% to HK$55,975,000 compared to HK$42,727,000 in 2018[187] - Other income decreased by 23.5% to HK$37,944,000, with a decrease in fair value of financial assets at fair value through profit or loss amounting to HK$558,000[189] - Administrative expenses decreased by 52.3% to HK$68,854,000 compared to the previous year[190] - Finance costs decreased by 5.7% to HK$30,004,000, mainly due to increased interest capitalized into properties under development[190] - Income tax expenses decreased to HK$166,478,000 from HK$437,145,000 in 2018, primarily due to land appreciation tax and profit tax from property sales in Shenzhen[190] - The fair value of investment properties increased by HK$683,397,000, compared to HK$1,131,543,000 in 2018[189] - The company recorded significant growth in both property sales and rental income, indicating a strong performance in the real estate sector[186] Dividends and Equity - The Company declared dividends totaling HK$129,348,000, an increase from HK$115,908,000 in 2018, representing a growth of approximately 11%[5] - The total dividend for the year is HK22.5 cents per share, unchanged from the previous year, consisting of a final dividend of HK15.0 cents and an interim dividend of HK7.5 cents[40] - The Company maintained a dividend cover of 4.50 times, down from 5.50 times in the previous year[5] - Total equity attributable to the owners of the Company increased to approximately HK$6,638,727,000, up by HK$258,526,000 or 4.1% compared to HK$6,380,201,000 in 2018[195] - The total equity attributable to the owners of the Company per share was HK$11.15, a decrease of 0.4% from HK$11.20 as of June 30, 2018[195] Assets and Liabilities - Fixed assets increased to HK$7,698,535,000 from HK$7,132,876,000 in 2018, marking an increase of about 7.9%[5] - Net current assets decreased to HK$402,637,000 from HK$553,436,000 in 2018, a decline of approximately 27.2%[5] - Non-current liabilities rose to HK$1,459,115,000 from HK$1,325,913,000, reflecting an increase of about 10%[5] - Net assets increased to HK$6,829,709,000 from HK$6,542,429,000, showing a growth of approximately 4.4%[5] - The net assets per share remained stable at HK$11.47, slightly down from HK$11.48 in 2018[5] Property Development and Market Trends - The occupancy rate for Villa Cecil Phase III has reached 95%, contributing good rental income to the Group[62] - Phase 1 of One Kowloon Peak has sold 13 out of 49 residential units, with the remaining units mostly rented out[55] - The total marketable gross floor area for Villa Cecil Phase III is 97,000 square feet, with a mix of residential units available for rental[62] - The residential project "New Villa Cecil" has a total marketable gross floor area of approximately 58,000 square feet, with Phase I comprising 19 blocks of 2-storey villas and over 90% leased out since November 2018[5] - The demand for residential properties in Hong Kong remains relatively strong despite economic threats, as reflected in recently launched residential properties[136] - The buying sentiment in Hangzhou remains stable and relatively active, as it is not subject to the Central Government's restrictions on property sales[92] - The transaction volume of properties in first-tier cities in China has slightly decreased, but selling prices have achieved a slight increment for 45 consecutive months[5] Investments and Future Plans - The total investment in the bonds market as of June 30, 2019, is HK$173,548,000, with no bonds purchased or sold during the year[128] - The market value of the company's investment in Hong Kong stocks as of June 30, 2019, is HK$7,938,000, with HK$162,000 in stocks sold and HK$1,530,000 purchased during the year[129] - The investment portfolio increased by a net acquisition of HK$243,808,000 during the year, with a loss on fair value of listed securities of HK$558,000 and a gain on bonds of HK$5,419,000[199][200] - The Group did not have any confirmed future plans for material investment or acquiring capital assets beyond existing projects disclosed in the annual report[196] Management and Leadership - Dr. Sun has over 60 years of experience in marketing, distribution, and manufacturing of wristwatches, and over 30 years in consumer products and electronic goods[156] - Mr. Ting has served as the Chairman and Managing Director of Kader Holdings Company Limited since 2003, and is involved in various trade organizations[158] - Mr. Lee has 35 years of experience in manufacturing, property development, and investment, with a focus on international distribution networks[162] - Miss Ho has over 30 years of experience in the company secretarial field and has been a director since 1996[169] - Mr. Chao has been with the Group since 2006 and holds degrees in Real Estate and Business Management[172] Economic and Regulatory Environment - The ongoing US-China trade war is expected to create pressure on growth, impacting the company's operations[135] - The US-China trade war has led to a depreciation of the Renminbi starting in Q3 2019, impacting the overall economic environment[5] - The Central Government's plan for Shenzhen aims to make it a leader in innovation, public services, and environmental protection by 2025, enhancing its attractiveness to international investors[72] - The Macau economy is expected to progress steadily with the support of the Central Government's policies, following the election of a new Chief Executive[118]
卓能(集团)(00131) - 2019 - 年度财报