Financial Performance - The consolidated net profit for the year ended September 30, 2021, was approximately HKD 137 million, compared to a consolidated loss of HKD 59.5 million in the previous year[17]. - The revaluation surplus of investment properties was approximately HKD 95.2 million, compared to a loss of HKD 114 million in 2020[17]. - The group’s operating profit primarily comes from rental income from investment properties in Hong Kong, which saw a decrease of 3.8% compared to the previous year[20]. - The company reported a net operating profit of HKD 154 million in 2021, compared to HKD 61 million in 2020[37]. - The net asset value per share was HKD 50.1 as of 2021, reflecting a slight increase from HKD 49.4 in 2020[38]. Rental Income - Rental income from residential properties increased by 6.5%, primarily due to the rental income generated after the renovation of The Cove in Q4 2020[20]. - Rental income from commercial and industrial properties decreased by 21.5% due to renovations and the economic slowdown caused by the COVID-19 pandemic[20]. - The occupancy rate and monthly rental income for residential units in Beijing have increased compared to the previous year[28]. - The company anticipates stable rental income for the upcoming year, despite ongoing pressures in the property leasing market due to the pandemic[30]. Investments - The company invested HKD 39 million in the TKO Fund, targeting three properties in Tseung Kwan O with a total built-up area of approximately 300,000 square feet[22]. - As of September 30, 2021, the company's investment in the TKO Fund was valued at HKD 37.6 million, with a total contribution of HKD 34.9 million[22]. - The company has invested USD 7.5 million in the Adams Street Private Income Fund LP, with a valuation of USD 7.1 million as of September 30, 2021[25]. - The company has invested USD 2 million in the Hundreds SH Fund LP, with a valuation of USD 1 million as of September 30, 2021[26]. - The company holds a one-third interest in the Guangzhou Dongyin Plaza project, with ongoing efforts to find satisfactory bids for the sale of equity stakes[27]. Property Management and Development - The company plans to enhance its property management services by integrating smart building management systems in its properties[10]. - The Cove has been transformed into a smart energy-efficient building, becoming the first BREEAM certified residential property of its kind in Asia[10]. - The company aims to maintain its focus on creating ideal living and working environments through ongoing renovations and upgrades[10]. - Management is implementing measures to enhance property appeal, including renovations and flexible rental pricing strategies[31][32]. Environmental, Social, and Governance (ESG) Initiatives - The report covers the company's environmental, social, and governance (ESG) performance from October 1, 2020, to September 30, 2021[59]. - The board is responsible for overseeing the company's sustainable development and has established an ESG working group to handle related issues[54]. - The company aims to enhance its corporate brand image and creditworthiness through sustainable development initiatives[55]. - The ESG report aims to provide transparent and responsible disclosure of the company's sustainability progress and direction[58]. - The company has allocated resources to the ESG working group to ensure effective management of related risks[54]. Employee Welfare and Training - The company has established a fair and equal employment policy, emphasizing diversity and inclusion in its workforce[98]. - The company has not reported any significant violations of employment laws during the reporting period[109]. - The company is committed to creating a safe working environment and requires management to actively participate in safety management initiatives[111]. - The percentage of trained employees in the fiscal year 2020/2021 was 29%, a significant decrease from 94% in the previous year[117]. - The average training hours completed per employee dropped to 1.7 hours in 2020/2021 from 15.4 hours in 2019/2020, primarily due to the impact of the coronavirus pandemic[118]. Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors, with independent non-executive directors making up 50% of the board[159]. - The company has adopted a board diversity policy, emphasizing the importance of diverse backgrounds, skills, and experiences among board members to maintain competitive advantage[163]. - The board is responsible for overseeing the company's business, strategic decisions, and performance, with all major matters requiring board approval[156]. - The company has complied with all corporate governance code provisions, except for specific clauses A.2.1 and A.4.1, which are detailed in the report[155]. - The nomination committee reviews the board's structure and composition to ensure a balanced representation of skills and experiences[164]. Sustainability and Environmental Impact - The total greenhouse gas emissions for the reporting period amounted to 760.38 tons of CO2 equivalent, a significant increase from 25.66 tons in the previous year[81]. - The main source of emissions was from purchased electricity, contributing 736.21 tons of CO2 equivalent, which accounted for 96.82% of total emissions[81]. - The company has implemented various energy efficiency measures, including the installation of solar panels and the use of cloud-based smart home systems[82]. - The company aims to enhance its environmental credentials by considering the implementation of the ISO 14064-1 system for greenhouse gas emissions reporting[88]. - The company has adopted a waste management strategy that emphasizes recycling and reducing paper usage, resulting in a significant reduction in waste generation[84].
博富临置业(00225) - 2021 - 年度财报