Financial Performance - For the fiscal year ending July 31, 2021, the group's revenue from continuing operations was HKD 835.3 million, a decrease of approximately 10.1% compared to HKD 929.2 million in the previous year[17]. - Gross profit fell by approximately 39.0% to HKD 184.1 million, down from HKD 301.9 million in 2020[17]. - The net loss attributable to the company from continuing operations was approximately HKD 351.1 million, an improvement from a net loss of HKD 926.4 million in 2020[18]. - The loss per share from continuing operations was HKD 0.235, compared to a loss of HKD 0.621 per share in the previous year[18]. - The decline in revenue was primarily due to reduced earnings from the film and television segment[17]. - The company reported a net loss attributable to shareholders of approximately HKD 351.1 million for the year ended July 31, 2021, a significant decrease from HKD 8,585.4 million in 2020[20]. - The loss per share attributable to shareholders was HKD 0.235, compared to a loss of HKD 5.755 per share in 2020[20]. - As of July 31, 2021, the equity attributable to shareholders was HKD 1,263.4 million, down from HKD 1,597.4 million in 2020[20]. - The company did not recommend the payment of a dividend for the year ended July 31, 2021, consistent with the previous year[21]. - The cinema operations segment recorded revenue of HKD 213 million for the year ended July 31, 2021, down from HKD 229.3 million in 2020, with a loss of HKD 151 million compared to a loss of HKD 535 million in the previous year[54]. - The media and entertainment segment generated revenue of HKD 321.1 million for the year ended July 31, 2021, compared to HKD 326.6 million in 2020, with a loss of HKD 17.4 million versus a loss of HKD 5.8 million in the previous year[57]. - The film and television production segment recorded revenue of HKD 298.9 million, down from HKD 370.2 million in 2020, with a loss of HKD 94.9 million compared to a loss of HKD 80.1 million in the previous year[61]. Operational Developments - The company continues to focus on media and entertainment, music production and distribution, and cinema operations in Hong Kong and mainland China[16]. - The company operates a total of 17 cinemas in Hong Kong and mainland China through its subsidiaries[11]. - The cinema operations continued to be disrupted, with theaters in Hong Kong required to suspend operations for a total of 105 days during the fiscal year[25]. - The company opened three new cinema locations, including K11 Art House with 12 screens and a total of 1,708 seats, featuring advanced IMAX technology[26]. - The company is investing in original quality film production in China, with projects like the psychological thriller "失衡凶間" currently in post-production[29]. - The company is developing new television series and negotiating with various Chinese online platforms for production opportunities[30]. - The company continues to explore new artist development and collaborations in the Greater China region to strengthen its talent pool[30]. Financial Position - The group's consolidated cash position as of July 31, 2021, was HKD 1,640,900,000, down from HKD 1,819,100,000 in 2020, indicating a decrease of approximately 9.8%[37]. - The total assets as of July 31, 2021, were HKD 3,717.1 million, a decrease from HKD 3,869.7 million in the previous year[45]. - Total liabilities increased to HKD 2,393.7 million from HKD 2,299.5 million year-over-year[45]. - The company's net asset value attributable to shareholders was HKD 1,263.4 million, down from HKD 1,597.4 million in the previous year[45]. - The debt-to-equity ratio as of July 31, 2021, was approximately 30.3%, up from 24.7% in 2020, indicating increased leverage[37]. - The current ratio decreased to 2.2 from 2.5 year-over-year[45]. - The group utilized approximately HKD 637,000,000 from the net proceeds of capital raising, with HKD 264,000,000 allocated for theater operations development and improvement[34]. Employee and Governance - The group employed approximately 580 employees as of July 31, 2021, an increase from 540 employees in 2020[69]. - The company maintains competitive salary levels and provides various benefits, including stock option plans and medical allowances[69]. - The group emphasizes the importance of employees as a key factor for success and adheres strictly to employment laws and regulations applicable in Hong Kong and mainland China[94]. - The group has signed the "Good Employer Charter" from the Hong Kong Labour Department, committing to provide a supportive work environment and attractive employee benefits[99]. - The group actively promotes employee health and safety, providing masks and disinfectants at all operational sites during the COVID-19 pandemic[102]. - The group conducts annual performance evaluations to review employee performance and consider promotions for outstanding employees[106]. - The company is committed to high levels of corporate governance in accordance with the Hong Kong Stock Exchange listing rules[164]. - The board consists of nine members, including four executive directors and four independent non-executive directors, exceeding the minimum requirement of independent non-executive directors as per listing rules[176]. Environmental, Social, and Governance (ESG) - The group is committed to environmental, social, and governance (ESG) issues, which are considered significant for long-term business development[75]. - The company has committed to integrating environmental considerations into its business planning and decision-making processes[84]. - The company has implemented measures to manage its emissions, energy consumption, and waste generation effectively[84]. - The company has engaged third-party consultants for climate risk assessments to identify potential risks in its operations[86]. - The total greenhouse gas emissions for the year 2021 were 1,601 metric tons of CO2 equivalent, a decrease of 9.7% from 1,773 metric tons in 2020[135]. - The company has not reported any violations of environmental regulations during the reporting year[84]. - The company actively supports community initiatives, including donations of daily necessities to the elderly and those in need[133]. - The company has implemented a whistleblowing procedure to monitor and control compliance with ethical standards[127]. Customer Relations and Safety - The group received approximately 120 customer complaints during the reporting year, primarily related to ticketing, membership programs, and special operational arrangements during the COVID-19 pandemic[114]. - The group implemented a series of measures to ensure customer and employee health, strictly adhering to government regulations regarding social distancing and sanitation[115]. - The group ensures food safety by sourcing food only from licensed suppliers and closely monitoring government regulations[117]. - The group has established a robust relationship with suppliers who adhere to strict quality control and high service standards[124]. - The group collects customer personal data solely for managing membership and ensures compliance with privacy regulations[122]. - The group has implemented data protection measures and network security policies to maintain data safety[120].
丰德丽控股(00571) - 2021 - 年度财报