Financial Performance - The total revenue for the year ended July 31, 2021, was approximately HKD 712 million, a significant increase from HKD 317.6 million in 2020[7] - Revenue for the year ended July 31, 2021, was HKD 116,147,000, an increase of 15.4% from HKD 100,318,000 in 2020[161] - Gross profit for the same period was HKD 52,378,000, representing a gross margin of 45% compared to 33.5% in the previous year[161] - The company reported a net loss of HKD 29,454,000 for the year, a slight improvement from a net loss of HKD 32,204,000 in 2020[161] - The company reported a loss attributable to owners of HKD 29,497,000 for the year ended July 31, 2021, compared to a loss of HKD 34,068,000 in the previous year, indicating a decrease in losses by approximately 13.5%[171] - The company experienced a pre-tax loss of HKD 17,126,000 for the year, an improvement from a pre-tax loss of HKD 29,745,000 in the previous year, reflecting a reduction of about 42.5%[171] Property Sales and Revenue - Property sales revenue amounted to HKD 109.9 million, up from HKD 66.6 million in the previous year[7] - As of July 31, 2021, the company confirmed property sales revenue of HKD 109,875,000, accounting for 95% of total revenue[150] Financial Position - The group held cash and bank balances of HKD 222.4 million as of July 31, 2021, down from HKD 333.1 million in 2020[9] - The total debt-to-equity ratio was 20.0%, a decrease from 26.5% in the previous year, indicating improved financial stability[9] - Total assets decreased to HKD 1,636,492,000 from HKD 1,641,380,000 in the previous year, reflecting a decline of 0.3%[163] - The company’s equity attributable to owners decreased to HKD 970,498,000 from HKD 983,833,000, a decrease of 1.4%[164] Employee and Compensation - Total employee compensation for the year was approximately HKD 18.3 million (2020: HKD 39.3 million), with about 80 employees as of July 31, 2021[21] - The total number of employees as of July 31, 2021, is 80, with a gender distribution of 46% male and 54% female[78][79] - Employee turnover rate is reported at 0% for both genders, indicating strong employee retention[81][83] - The company’s employee compensation policy is determined by the board based on performance, qualifications, and market statistics[141] Risk Management and Governance - The risk management framework includes a clear governance structure and policies to identify, assess, and manage significant risks[52] - The board of directors is responsible for overseeing the risk management and internal control systems to ensure their effectiveness[52] - The company has engaged independent professional institutions to assist the board and audit committee in continuously monitoring the risk management and internal control systems, ensuring timely reporting of significant internal control deficiencies[55] - The board conducts an annual review of the effectiveness of the risk management and internal control systems, considering various factors including business changes and compliance with listing rules[55] Environmental and Social Responsibility - The group emphasizes the importance of environmental protection and has implemented measures to integrate sustainable development principles into daily operations[71] - The group encourages a paperless work environment and promotes energy-saving practices among employees[71] - The company emphasizes water conservation by regularly inspecting and repairing faulty pipes and valves, and installing sensor-operated faucets in hotel restrooms[74] - The company prioritizes local recruitment and procurement to boost local employment and economic development[100] Audit and Compliance - The independent auditor's report confirmed that the financial statements present a true and fair view of the group's financial position as of July 31, 2021[145] - The company has established internal controls to ensure the accuracy of financial reporting and compliance with relevant accounting standards[153] - The company has ensured compliance with applicable laws and regulations that significantly impact its business operations[139] Shareholding and Capital Structure - As of July 31, 2021, the total shareholding of the chairman, Mr. Siu, is 70,302,450 shares, representing 36.2% of the issued share capital[126] - Major shareholders include Fu Jian with 64,580,625 shares (33.2%), Mr. Xiao with a total of 70,302,450 shares (36.2%), and Supervalue with 25,008,555 shares (12.9%)[134] - The company has no reserves available for distribution to shareholders as of July 31, 2021[120] Customer Relations and Quality Control - The company emphasizes high-quality service and customer satisfaction, implementing personalized arrangements based on customer feedback[93] - The company maintains strict control over food safety and quality, terminating relationships with suppliers upon discovering significant hygiene issues[93] - The company complies with the "China Tourism Hotel Industry Standards" to protect guest rights and privacy[93]
冠中地产(00193) - 2021 - 年度财报