Financial Performance - The company recorded a consolidated loss attributable to shareholders of approximately HKD 10 million for the year, compared to a consolidated loss of approximately HKD 112 million for the previous year[12]. - Revenue from continuing operations decreased to HKD 925 million for the year ended March 31, 2020, down from HKD 2,554 million in 2019, with the food business contributing 85% of total revenue[17]. - The group recorded a profit of HKD 440 million from its investment in LAAPL, a significant turnaround from a loss of HKD 112 million in 2019, primarily due to gains from the sale of Aquamarina[26]. - The food business segment reported revenue of HKD 785 million, a significant decrease from HKD 2.397 billion in 2019, mainly due to the sale of food distribution and dining center businesses[28]. - The group recorded a net fair value loss of HKD 82 million on investment properties, compared to a gain of HKD 30 million in the previous year, mainly due to a downturn in the Hong Kong property market[20]. Dividends and Shareholder Returns - The company proposed a final cash dividend of HKD 0.05 per share, bringing the total dividend for the year to HKD 0.09 per share, including an interim dividend of HKD 0.04 per share[12]. - The total dividend for the year will be HKD 0.09 per share, amounting to approximately HKD 44.4 million, compared to HKD 39.5 million the previous year[59]. - The company aims to provide stable and sustainable returns to shareholders through a progressive dividend policy, approved by the board in January 2019[168]. Strategic Developments - The company sold its entire issued shares in Food Junction Management Pte Ltd, generating a non-recurring gain of approximately HKD 287 million[9]. - The company increased its stake in Jin Di Commercial Real Estate Group Limited to approximately 24% as part of its strategy to expand into the Chinese real estate market[8]. - OUE Lippo Healthcare Limited, a subsidiary of the company, acquired a 70% stake in Wuxi Lippo Xinan Hospital Limited in China and minority stakes in three hospitals and two clinics in Myanmar[10]. - Following the merger of OUE C-REIT and OUE Hospitality Trust, OUE C-REIT has become one of the largest and most diversified real estate investment trusts listed in Singapore[8]. - The group plans to rebrand the Marina Mandarin Singapore to Hilton Singapore Orchard, set to reopen in 2022, enhancing its hotel portfolio[24]. Operational Adjustments - The company is adjusting its asset portfolio and creating recurring income sources in response to the uncertainties caused by the COVID-19 pandemic[12]. - The company has implemented various measures to enhance its services during the pandemic, including teleconsultations and home delivery of medications for chronic patients[10]. - The group provided rental concessions to tenants in response to the economic downturn caused by the COVID-19 pandemic, impacting rental income[20]. Risk Management and Governance - The company has identified various risks and uncertainties that may impact its financial condition and operational performance[124]. - The company has adopted a risk management and internal control system, which is reviewed annually for effectiveness, covering financial, operational, and compliance monitoring[161]. - The board is responsible for overseeing the risk management and internal control systems, ensuring their adequacy and effectiveness at least annually[181]. - The company is committed to high-quality corporate governance practices to enhance investor confidence[133]. Employee and Community Engagement - The group employed 1,005 full-time employees as of March 31, 2020, down from 1,099 a year earlier, with employee costs amounting to HKD 413 million[53]. - Charitable and other donations made by the group during the year were HKD 4,650,000, a decrease from HKD 10,407,000 in 2019[69]. - The company emphasizes maintaining good relationships with employees, suppliers, and customers to achieve short-term and long-term goals[121]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers the performance of the group for the year ending March 31, 2020[197]. - The report highlights the group's commitment to sustainable development and stakeholder engagement[197]. - The group aims to continuously optimize internal data collection processes and gradually expand the disclosure scope[198]. Board Composition and Director Remuneration - The board of directors consists of seven members, including two executive directors and five non-executive directors, with a majority being independent[137]. - The total remuneration paid to the company's directors for the year was HKD 246,000, with additional fees for non-executive directors serving on various committees[84]. - The remuneration committee is responsible for assessing the performance of executive directors and determining their compensation packages, including salaries and bonuses[146].
力宝(00226) - 2020 - 年度财报