Financial Performance - For the fiscal year ending June 30, 2021, the company reported a net profit attributable to shareholders of HKD 1,357,290,000, a significant recovery from a net loss of HKD 429,401,000 in the previous fiscal year[26]. - The company's consolidated profit from resource investment, commodity business, and major investment and financial services segments was HKD 616,375,000 for the fiscal year[26]. - The company proposed a final dividend of HKD 0.10 per share and a special dividend of HKD 0.10 per share, reflecting strong performance[23]. - The total reserves available for distribution to shareholders as of June 30, 2021, amount to HKD 1,266,534,000, an increase from HKD 989,051,000 in the previous year[118]. - The commodity trading business recorded a profit of HKD 55,905,000 in fiscal year 2021, recovering from a loss of HKD 5,912,000 in 2020[51]. Resource Investment and Commodities - The resource investment segment achieved a profit exceeding HKD 500,000,000, driven by strong iron ore prices, leading to a reversal of impairment losses of HKD 580,014,000 related to Mount Gibson Iron Limited[20]. - The fiscal year saw strong commodity prices supported by pent-up demand as economies began to reopen[20]. - The company highlighted the importance of government fiscal stimulus measures in driving infrastructure spending, which has further supported commodity prices[20]. - Resource investment recorded a fair value gain of HKD 448,111,000 in the fiscal year 2021, compared to HKD 42,317,000 in 2020, resulting in a segment profit of HKD 510,268,000[41]. - The commodity segment reported a fair value gain of HKD 161,539,000, with a book value of HKD 490,627,000 as of June 30, 2021, compared to HKD 189,224,000 in 2020[45]. Economic Outlook - The global economic recovery remains uncertain due to the ongoing impact of COVID-19 variants, but the company maintains a cautiously optimistic outlook[21]. - The company noted that the Chinese economy is facing challenges due to the Delta variant, which has affected manufacturing and exports, as reflected in the weak purchasing manager index[23]. - The company remains optimistic about the medium-term outlook for tin due to increasing demand from the semiconductor and electric vehicle sectors[40]. Investments and Acquisitions - The main strategic investments included Mount Gibson and Tanami Gold, with a share of net profit from these investments amounting to HKD 130,374,000 for the fiscal year[27]. - The group acquired a 29.83% stake in Mabuhay Holdings Corporation for approximately USD 4,000,000 on June 18, 2021, making Mabuhay an associate company[73]. - The group completed the acquisition of Allied Properties Resources Limited for HKD 102,581,817.50, which included a shareholder loan of HKD 412,260,366, on August 13, 2021[74]. Risk Management and Compliance - The group has established a comprehensive risk management framework to address market, credit, and liquidity risks[60]. - The group has implemented various measures to minimize risks related to the COVID-19 pandemic, ensuring business continuity and employee safety[70]. - The company emphasizes compliance with applicable laws and regulations, including the Securities Listing Rules of the Hong Kong Stock Exchange[113]. Corporate Governance - The board consists of eight members, including two executive directors, three non-executive directors, and three independent non-executive directors[177]. - The company has adopted improved corporate governance procedures and has complied with the applicable code provisions for the fiscal year ending June 30, 2021[176]. - The roles of the chairman and CEO are clearly separated, with Arthur George Dew as chairman and Andrew Ferguson as CEO[190]. - The board has established multiple committees, including the nomination committee, remuneration committee, audit committee, and executive committee, each with clearly defined terms of reference[198]. Employee and Compensation - As of June 30, 2021, the group had a total of 15 employees, with total compensation and pension contributions amounting to HKD 64,097,000, a significant increase from HKD 12,868,000 in the previous fiscal year[59]. - The company has established a compensation policy based on employees' education, qualifications, and abilities, following the guidelines of the Listing Rules[155]. Shareholder Information - The company will suspend the transfer of shares and warrants from November 29, 2021, to December 2, 2021, to determine voting eligibility for the annual general meeting[106]. - The company has maintained sufficient public float as per the listing rules as of the report date[170]. - Major shareholders include Shougang Fushan Resources Group Limited with a 17.64% stake and the Union Group with a 39.90% stake[145].
亚太资源(01104) - 2021 - 年度财报