亚洲金融(00662) - 2020 - 年度财报

Financial Performance - The company reported a profit attributable to shareholders of HKD 337.9 million, a decrease of 17.4% compared to the previous year[5]. - Earnings per share were HKD 0.354, down 16.1% year-on-year[12]. - The group recorded a profit attributable to shareholders of HKD 337.9 million for the year ended December 31, 2020, a decrease of 17.4% compared to the previous year[13]. - The earnings per share for 2020 was HKD 0.354, with a total dividend of HKD 0.08 per share declared for the year[13]. - The return on equity was 3.2%, down from 4.2% in 2019[12]. - The group's cash and cash equivalents amounted to HKD 2.802 billion as of December 31, 2020, down from HKD 3.366 billion in 2019[15]. Investment Strategy - The company’s investment portfolio experienced realized losses due to market volatility, but unrealized investments recorded profits[5]. - The group plans to continue adjusting its investment portfolio in response to market fluctuations and focus on long-term benefits rather than short-term market value changes[25]. - The company aims to leverage potential opportunities arising from the Greater Bay Area integration plan and increased demand for health insurance post-pandemic[21]. - The investment performance for 2021 is expected to be cautiously optimistic due to the pandemic's impact on the economy[24]. Insurance Business - The insurance business remains cautiously optimistic, with a focus on maintaining a prudent and flexible core investment strategy[9]. - The insurance subsidiary, Asia Insurance, reported a profit attributable to shareholders of HKD 189.6 million, a decrease of 0.6% year-on-year, despite a 3% increase in revenue[20]. - Asia Insurance's underwriting profit increased by 2%, maintaining a healthy trend in the local insurance industry[20]. - The company anticipates positive prospects for its core underwriting business in Hong Kong and Macau in 2021 and beyond[21]. Economic Outlook - The overall economic outlook for 2021 remains uncertain, influenced by geopolitical risks and the ongoing pandemic[7]. Employee and Workplace Policies - The total number of employees as of December 31, 2020, was 299, an increase from 291 in 2019, with compensation based on performance and industry standards[41]. - The employee turnover rate in Hong Kong for 2020 was 6.08%, compared to the Hong Kong average of 3.5% in the first half of 2020[72]. - There were no work-related injuries reported in 2020, resulting in zero lost workdays[76]. - The company had 0 confirmed COVID-19 cases among employees, with 96 instances of quarantine totaling 505 days[79]. - The company provided medical and life insurance plans as part of employee benefits, along with mandatory and voluntary pension contributions[63]. - The employee age distribution showed 110 employees aged 51 and above, indicating a significant portion of the workforce is in this age group[70]. - The company implemented strict health and safety measures in response to the COVID-19 pandemic, including mandatory mask-wearing and social distancing[80]. - The company ensures compliance with all relevant employment laws and maintained a non-discriminatory work environment[66]. Environmental, Social, and Governance (ESG) Initiatives - The board emphasizes the importance of environmental, social, and governance (ESG) issues as a core part of the company's daily operations[47]. - The company conducts annual reviews of its ESG report and future strategy recommendations in March, and checks progress on semi-annual targets in August[50]. - The company aims to create sustainable value for stakeholders by understanding and managing ESG risks[47]. - The company is continuously reviewing and expanding its reinsurance coverage in response to climate change risks[56]. - The company has established protective measures and guidelines to minimize the risk of COVID-19 infection among employees[55]. - The company has received the "Caring Company" logo for 18 consecutive years, reflecting its commitment to social responsibility and sustainable development[43]. - Greenhouse gas emissions were reduced from 975 tons to 807.58 tons despite business growth, demonstrating a commitment to environmental sustainability[96]. - The company has implemented a carbon footprint management strategy, achieving a greenhouse gas emission density of 0.46 tons per HKD 1 million in revenue[99]. - The company plans to enhance its risk assessment related to climate change and is awaiting regulatory guidance to set quantifiable targets[92]. Corporate Governance - The board consists of nine members, including four executive directors (44.4%), two non-executive directors (22.2%), and three independent non-executive directors (33.3%) as of December 31, 2020[145]. - The board has a commitment to diversity, considering factors such as gender, age, cultural background, and professional experience in member selection[144]. - The company has established a nomination policy to ensure a structured process for selecting and recommending candidates for the board[149]. - The board is responsible for setting the overall corporate goals, business strategies, and operational policies of the group[150]. - The roles of the chairman and president are separated, with Dr. Chen Youqing as the executive chairman and Mr. Chen Zhisi as the president and executive director[151]. - The board has established a risk committee to oversee the effectiveness of the risk management system and is assisted by the Chief Risk Officer[177]. - The company has adopted a Risk Management Policy to identify, measure, monitor, and control various risks, including credit risk, cash flow risk, interest rate risk, and market risk[175]. Training and Development - The average training hours per employee increased from 10.84 hours in 2019 to 12.15 hours in 2020, with a projected 10% increase in 2021[83]. - The percentage of employees receiving training was 74.8% for male employees and 87.1% for female employees[86]. - The company continues to invest in employee development through training programs and educational subsidies[85]. - The average training hours for senior management was 22.33 hours, while for general employees it was 9.28 hours[90]. Community Engagement - The group reported a total donation and sponsorship amount of approximately HKD 1.59 million in 2020, significantly lower than the previous year due to reduced fundraising activities caused by the COVID-19 pandemic[130]. - The group emphasizes the importance of community service, with 32 volunteer service participants contributing a total of 155 hours in 2020[134].