Financial Performance - The loss for the year ended June 30, 2019, attributable to shareholders was approximately HK$154.9 million, compared to HK$156.8 million in 2018, with a basic loss per share of approximately 0.99 HK cents[10]. - The net loss for the year was approximately HK$168.9 million, compared to a net loss of approximately HK$157.5 million in 2018, with a loss attributable to owners of the Company of approximately HK$154.9 million[13]. - Basic loss per share was approximately 0.99 HK cent, a decrease from approximately 2.72 HK cents in 2018[13]. - The increase in net loss was mainly due to the absence of a gain on the change in fair value of financial liabilities at fair value through profit or loss, amounting to approximately HK$131.2 million[10]. - Impairment loss on loans receivable increased by approximately HK$124.7 million during the year[10]. Business Segment Performance - The hotel hospitality business recorded a turnover of approximately HK$33.2 million for the year, down from HK$37.4 million in 2018, resulting in a segment loss of approximately HK$6.8 million[10]. - The money lending services business turnover was approximately HK$22.3 million, an increase from HK$10.9 million in 2018, but recorded a segment loss of approximately HK$106.5 million due to increased impairment losses[10]. - The liquor and wine business turnover was approximately HK$0.9 million, down from HK$3.9 million in 2018, with a segment loss of approximately HK$3.1 million compared to a profit of approximately HK$12.3 million in the previous year[11]. - The turnover for the new energy business for the year ended June 30, 2019, was approximately HK$6.4 million, a decrease from approximately HK$7.7 million in 2018, while the segment loss improved to approximately HK$29.9 million from approximately HK$146.2 million in 2018[19]. Strategic Outlook - The Group is optimistic about the potential growth in tourism in Japan driven by the Tokyo Olympics 2020, which is expected to generate satisfactory income in the future[10]. - The management is optimistic about the potential growth in the hotel and resort industry in Japan, driven by the Tokyo Olympics 2020[13]. - The Group plans to further expand the scale of the money lending business with more cautious credit assessment[17]. - The Group will continue to explore more sales opportunities to improve the revenue stream of the liquor and wine business[11]. Corporate Governance - The Company has complied with the Corporate Governance Code except for deviation from code provision A.4.1, which requires non-executive directors to be appointed for a specific term[80]. - The Board consists of seven Directors, including three executive Directors and three independent non-executive Directors[81]. - The Company has adopted the full set of Model Code for Securities Transactions by Directors, confirming compliance by all directors during the year[80]. - The Board is responsible for overseeing the Group's businesses and strategic decisions, ensuring effective leadership and control[81]. Risk Management - The Company engaged a professional advisory firm for internal control review to ensure effective risk management and internal control systems[134]. - The Audit Committee was satisfied with the ongoing process for identifying and managing significant risks faced by the Group[134]. - The risk management process includes periodic risk identification and analysis, assessing consequences and likelihood, and developing mitigation plans[128]. - Ongoing and periodic monitoring of risks is performed to ensure effective management and reporting[133]. Environmental Responsibility - The Group is committed to reducing carbon emissions and protecting the environment through various operational strategies[200]. - The Group actively promotes pollution prevention and waste reduction initiatives, focusing on recycling and sustainable practices[200]. - The Group has implemented environmental management based on local requirements and standards to mitigate environmental impacts[200]. - Regular communication with stakeholders, including shareholders and employees, is maintained to address ESG concerns[194]. Shareholder Relations - The Company emphasizes effective communication with shareholders to enhance investor relations and understanding of its business[123]. - Shareholders holding at least one-tenth of the paid-up capital can requisition a Special General Meeting if the Board does not convene one within 21 days[121]. - Shareholders representing at least one-twentieth of total voting rights can propose resolutions at general meetings, requiring a written requisition and a statement of no more than 1,000 words[121]. Employee Management - The remuneration policy for senior employees is based on merit, qualifications, and market statistics, with a share option scheme adopted as an incentive[169]. - The management regularly reviews employee remuneration packages to ensure competitiveness in the market[172]. - The company is committed to providing continuing professional development for directors to keep them updated on statutory and regulatory developments[103].
德泰新能源集团(00559) - 2019 - 年度财报