Financial Performance - Shun Ho Property Investments Limited reported a net profit of HKD 150 million for the year ended December 31, 2018, representing a 10% increase compared to the previous year[1]. - Total revenue for the year was HKD 500 million, reflecting a growth of 5% year-on-year[1]. - The net profit attributable to the company's owners for the year ended December 31, 2018, was HKD 688 million, a decrease of 21% from HKD 867 million in 2017[12]. - The operating profit from hotel operations increased by 34% to HKD 199 million in 2018, up from HKD 148 million in 2017[14]. - The total revenue for Huada Seaview Hotel in 2018 was HKD 85.841 million, representing a significant increase of 191% from HKD 29.52 million in the same period of 2017[23]. - The company reported a decrease in cash and cash equivalents to HKD 582,651,000 in 2018 from HKD 901,569,000 in 2017, a decline of 35.4%[110]. - The total comprehensive income for the year ended December 31, 2018, was HKD 926,733,000, up from HKD 848,084,000 in 2017, reflecting a growth of approximately 9.2%[119]. Dividends and Shareholder Returns - The company declared a final dividend of HKD 0.05 per share, maintaining the same level as the previous year[2]. - Total dividends, including interim and final dividends, amounted to HKD 0.0693 per share, an increase of 5% from HKD 0.066 per share in 2017[12]. - The proposed final dividend of HKD 0.0498 per share for the year ended December 31, 2018, compared to HKD 0.0474 per share in 2017[12]. - The company paid dividends amounting to HKD 51,975,000 during the year, compared to HKD 47,250,000 in the previous year, reflecting an increase of approximately 6.0%[119]. Property and Investment Strategy - The company plans to expand its property portfolio by acquiring new commercial properties in key urban areas, targeting a 15% increase in rental income over the next fiscal year[1]. - The company continues to engage in commercial property investment and leasing, as well as hotel investment and management through its subsidiaries[12]. - The company has established a strategic partnership with local developers to enhance its market reach and leverage new opportunities in the real estate sector[1]. - The company is exploring potential mergers and acquisitions to further strengthen its market position and diversify its asset base[1]. Governance and Management - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules, ensuring compliance with all provisions except for a few deviations[47]. - The company has established a remuneration committee that adheres to the guidelines but does not approve management's salary proposals, ensuring independent oversight[47]. - The board consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors, all of whom possess appropriate professional qualifications or relevant financial management expertise[49]. - The company emphasizes the importance of training and continuous professional development for directors and senior management[53]. Risk Management - The company has established a risk management system to identify, assess, and manage significant risks, including operational and market risks[57]. - The board is responsible for assessing the nature and extent of risks faced by the group[56]. - The internal audit team conducts regular checks and reports to the board on the effectiveness of risk management and internal control systems[56]. - The company is closely monitoring rental income to avoid losses, particularly due to the low unemployment rate in Hong Kong, which is below 3%[58]. Financial Position and Assets - The total assets of the company as of December 31, 2018, amounted to HKD 7,729,743,000, an increase from HKD 6,850,260,000 in 2017, representing a growth of approximately 12.8%[119]. - The group’s total liabilities as of December 31, 2018, were HKD 1,156,104,000, an increase from HKD 1,055,175,000 in 2017, representing a rise of approximately 9.6%[119]. - The group has recognized an irrevocable operating lease commitment of approximately HKD 1,620,000,000 as of December 31, 2018[143]. Environmental and Sustainability Initiatives - Shun Ho Property Investments Limited aims to implement sustainable practices in its operations, targeting a 20% reduction in energy consumption by 2025[1]. - The company has implemented various environmental measures to enhance energy efficiency and reduce carbon emissions[2]. Audit and Compliance - The company plans to continue engaging Deloitte as its auditor, ensuring compliance with auditing standards[88]. - The audit committee's responsibilities have been expanded to include reviewing risk management and internal control systems[56]. - The company ensures that financial statements are prepared in compliance with applicable regulations and accounting standards[56].
顺豪物业(00219) - 2018 - 年度财报