Financial Performance - The company's revenue for the year ended March 31, 2020, was approximately HKD 137,199,000, an increase of about 75.8% compared to HKD 78,064,000 in 2019[5] - The loss attributable to shareholders for the year was approximately HKD 529,070,000, a decrease of about 11.9% from HKD 600,252,000 in 2019[5] - The total revenue for the year increased by 75.8% to approximately HKD 137,199,000, primarily due to the growth in agricultural business and the absence of losses from financial asset sales[24] - The group reported a loss of approximately HKD 529,111,000, a reduction of about 12.5% from the previous year's loss of HKD 604,960,000[24] Property Investment - The total value of the investment properties was estimated at approximately HKD 1,155,100,000 as of March 31, 2020, down from HKD 1,282,094,000 in 2019[7] - Rental income from the property investment business was approximately HKD 47,831,000, accounting for 34.9% of total revenue, a decrease from HKD 53,249,000 in 2019[8] - The company recorded a loss of approximately HKD 40,337,000 in the property investment segment, compared to a profit of HKD 35,623,000 in 2019[8] - The group's investment properties were valued at approximately HKD 631,766,000 as of March 31, 2020, down from HKD 655,294,000 in the previous year[29] Hotel Operations - The average occupancy rate of the hotel property was approximately 62% for the year, down from 80% in 2019[10] - Revenue from the hotel business was approximately HKD 27,734,000, representing 20.2% of total revenue, a decrease from HKD 35,242,000 in 2019[12] - The hotel segment recorded a goodwill impairment loss of approximately HKD 45,738,000 due to the decline in recoverable amounts[12] - The hotel business in Shanghai has a building area of 15,997 square meters, contributing to the group's operations in China[99] Agricultural Business - The agricultural business in Bolivia had a total farmland area of approximately 17,500 hectares, with a book value of approximately HKD 371,962,000 as of March 31, 2020[14] - The group recorded revenue from agricultural operations of approximately HKD 61,634,000, representing a 28% increase compared to the previous year[15] - The number of cattle increased to 1,925, a growth of approximately 90% year-on-year, although the cattle business continues to incur losses[15] - The agricultural operations in Bolivia produced approximately 28,145,580 kilograms of crops during the reporting period, with a land area of 123,857,345 square meters[99] Financial Position - The group's cash and bank deposits as of March 31, 2020, were approximately HKD 16,188,000, down from HKD 79,975,000 the previous year[26] - The group's equity reached approximately HKD 1,989,547,000, a decrease from HKD 2,584,656,000 the previous year[26] - As of March 31, 2020, the total borrowings of the group amounted to approximately HKD 818,232,000, a decrease from HKD 893,906,000 as of March 31, 2019[27] - The group has a short-term repayment obligation of approximately HKD 675,594,000 due within one year, compared to HKD 888,158,000 in the previous year[27] Corporate Governance - The board emphasized the importance of corporate governance, adhering to the guidelines set forth by the Hong Kong Stock Exchange, ensuring transparency and accountability[49] - The company confirmed compliance with the securities trading code, with all directors adhering to the established standards throughout the fiscal year[54] - The board of directors held four meetings and one annual general meeting during the review year, with all executive directors attending 100% of the board meetings[59] - The company has three independent non-executive directors, all of whom have been confirmed to maintain their independence according to listing rules[66] Risk Management - The company has implemented a new risk management framework, which is expected to reduce operational risks by 30% over the next fiscal year[49] - The group has established a clear risk management framework to identify, assess, and manage significant risks, with operational units taking measures to mitigate risks during daily operations[87] - The external consultants have conducted an independent review of the group's risk management and internal control systems, with the report approved by the audit committee[89] Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report covers the group's overall environmental and social performance across four key businesses during the reporting period from April 1, 2019, to March 31, 2020[99] - The total greenhouse gas emissions amounted to 5,823.47 tons of CO2 equivalent, with a density of 0.03 kg CO2 equivalent per square meter and 41.60 tons CO2 equivalent per employee[112] - The company is committed to sustainable development and will consider environmental impacts in future investment decisions[102] - The group has implemented energy efficiency measures, including the replacement of lighting with LED and encouraging guests to participate in energy-saving initiatives[134] Employee Engagement and Welfare - The group employed approximately 158 staff as of March 31, 2020, a slight decrease from 160 in the previous year[35] - The overall employee turnover rate during the reporting period was 26.7%, with turnover rates of 43.3% in Bolivia and 12.7% in China[157] - 71% of hotel employees received training, with 78% of male employees and 68% of female employees trained[168] - The company promotes equal opportunities in hiring, training, and promotions, ensuring no discrimination based on various factors[150] Community Engagement - The group is committed to community investment, supporting local communities through various initiatives, including donations from charity product sales[196] - The group donates 10 RMB for each charity product sold under the Holiday Inn Express brand to the IHG Foundation[196] - The group allocates 50% of the revenue from hotel coin-operated laundry facilities to the Hope Project, providing educational opportunities for impoverished children in rural China[196]
润中国际控股(00202) - 2020 - 年度财报