Dividends and Shareholder Information - The company plans to declare a final dividend of HKD 0.05 per share on December 4, 2019[5]. - The interim dividend of HKD 0.045 per share was distributed on April 24, 2019[5]. - The proposed final dividend for the fiscal year ending June 30, 2019, is HKD 0.05 per share, with a total annual dividend of HKD 0.095 per share including the interim dividend[13]. - The group plans to offer shareholders the option to receive new shares instead of cash for the final dividend, pending approval at the upcoming annual general meeting[13]. - The company allows shareholders to receive dividends in the form of new shares, providing an opportunity to increase their investment without incurring brokerage fees[77]. - The group will suspend share transfer registration from October 30 to October 31, 2019, to determine the list of shareholders eligible for the proposed final dividend[11]. - The group will suspend share transfer registration from October 21 to October 24, 2019, to determine the list of shareholders eligible to attend the annual general meeting[11]. Financial Performance - For the fiscal year ending June 30, 2019, the group's profit attributable to shareholders was HKD 196.3 million, a 0.6% increase from HKD 195.1 million in the previous year[13]. - Revenue for the year ended June 30, 2019, was HKD 320,653,237, an increase of 2.5% from HKD 313,669,026 in 2018[167]. - Gross profit for the same period was HKD 200,126,345, up from HKD 196,836,225, reflecting a gross margin of approximately 62.4%[167]. - Net profit attributable to shareholders for the year was HKD 196,306,408, compared to HKD 195,127,516 in the previous year, indicating a slight increase[168]. - Basic earnings per share decreased to 17.83 cents from 18.22 cents year-over-year[167]. - The company reported a total comprehensive income of HKD 118,491,726 for the year, compared to a comprehensive loss of HKD 37,859,378 in the previous year[168]. - The total assets as of June 30, 2019, amounted to HKD 4,755,743,091, compared to HKD 4,640,147,442 in 2018, representing a growth of 2.5%[169]. - Cash and cash equivalents increased to HKD 1,203,870,322 from HKD 1,166,725,192, showing a rise of 3.2%[169]. Corporate Governance - The company is committed to maintaining strong corporate governance practices as outlined in the corporate governance report[3]. - The board of directors is committed to maintaining high standards of corporate governance and has adopted a customized corporate governance code[33]. - The board has established four committees, including the remuneration committee, nomination committee, audit committee, and compliance committee, each with specific responsibilities[36]. - The company ensures that all directors dedicate sufficient time and effort to handle company affairs effectively[37]. - The company maintains transparency and accountability to shareholders through its governance practices[33]. - The company has implemented clear guidelines for management to make decisions within defined parameters[35]. - The board is responsible for evaluating the company's financial performance and approving significant matters[35]. Risk Management and Internal Controls - The company has adopted a corporate risk management system to assist the audit committee and board in fulfilling their risk management responsibilities[56]. - The internal audit department employs a risk-based audit approach and develops a three-year internal audit plan for the audit committee's approval[58]. - The audit committee conducts an annual review of the effectiveness of the company's risk management and internal control systems, covering all significant monitoring measures[61]. - The company emphasizes the importance of integrity and regularly provides training and seminars to employees on ethical conduct[56]. - The board received a confirmation letter regarding the effectiveness of the risk management and internal control systems for the financial year ending June 30, 2019, based on management's ongoing work to identify, assess, monitor, and manage existing and emerging risks[62]. Environmental and Social Responsibility - The company is committed to reducing plastic usage and has implemented measures such as replacing plastic water bottles with smart water refill stations[19]. - The group is committed to reducing its ecological footprint by saving energy, reducing waste, and preventing pollution[84]. - The group has established a dedicated committee for employee safety and health management to ensure the implementation of health and safety management principles in daily operations[82]. - The company has implemented a zero-tolerance policy against child labor and forced labor, with no significant violations reported as of June 30, 2019[101]. - The group has committed to reducing single-use plastic by 50% by 2022, using 2017 as the baseline, and has already eliminated plastic straws and stirrers in its restaurants[87]. - The company has established a "Green Procurement Guidelines" since 2014 to encourage partners to assess the environmental impact of their products throughout their lifecycle[102]. Community Engagement - The company has been involved in significant community and charitable initiatives, reflecting its commitment to corporate social responsibility[30]. - The company has served over 44,200 elderly individuals through its "Love Soup Action" program since its inception in 2011, conducting over 330 events[109]. - The company donated 1,212 kilograms of food to food aid organizations in the fiscal year ending June 30, 2019, equivalent to 3,190 nutritious meals[109]. - The company has been involved in the "Soap Hope Project" since 2015, recycling hotel waste soap to support local women's rights and provide employment opportunities[111]. - The company launched the "Full of Happiness Project" to recycle hotel linens and curtains, transforming waste materials into usable items for underprivileged families[111]. Employee Development and Workplace Environment - The group emphasizes employee development through training programs aimed at enhancing service quality and maintaining competitiveness in the hotel industry[19]. - The group has implemented a five-day work week for office employees since June 2016 to promote work-life balance[98]. - The group conducts regular safety training workshops to enhance employee awareness of health and safety issues, aiming for a "zero accidents" goal[99]. - The group emphasizes a fair work environment, providing competitive compensation based on employee performance, experience, and market conditions[96]. - The company has introduced a new training program "FLY" for managerial staff to enhance leadership skills and management techniques[101]. Audit and Financial Reporting - The independent auditor's report confirms that the consolidated financial statements reflect the group's financial position fairly as of June 30, 2019[157]. - The auditor's responsibility includes obtaining reasonable assurance that the consolidated financial statements are free from material misstatement, whether due to fraud or error[162]. - The auditor evaluates the appropriateness of accounting policies adopted by the directors and the reasonableness of accounting estimates and related disclosures[163]. - The company is responsible for preparing the consolidated financial statements in accordance with Hong Kong Financial Reporting Standards and ensuring internal controls are in place to prevent material misstatements due to fraud or error[161]. - The company recognized a customer deposit income of HKD 3,731,492 as contract liabilities upon the first application of HKFRS 15, indicating a shift in accounting treatment[178]. Market and Business Expansion - The company is focused on expanding its business scope beyond real estate development into industrial, hotel, aviation, and tourism sectors[29]. - The company is exploring opportunities for market expansion and new product development in response to changing market dynamics[30]. - The group plans to continue expanding its market presence through its various hotel offerings in prime locations[150].
SINO HOTELS(01221) - 2019 - 年度财报