Financial Performance - For the fiscal year ending June 30, 2020, the group reported a loss attributable to shareholders of HKD 76.3 million, compared to a profit of HKD 196.3 million in the previous year[8]. - The average room occupancy rate for City Garden Hotel was 41.7%, down from 85.7% in the previous year, with rental income decreasing by 67.8% to HKD 62 million[8]. - The average room occupancy rate for Hong Kong Park Lane Hotel was 34.8%, down from 89.3% in the previous year, with rental income of HKD 139.8 million, a decrease from HKD 455.5 million[8]. - The group's food and beverage revenue for the fiscal year was HKD 61.9 million, down from HKD 88.9 million in the previous year[8]. - Room rental revenue decreased by 73.3% to HKD 88.1 million, compared to HKD 329.5 million in the previous year[10]. - Food and beverage revenue was HKD 71.3 million, down from HKD 102.5 million in the previous year[10]. - The group reported a loss per share of HKD 0.675, compared to earnings per share of HKD 1.783 in the previous year[8]. - The company reported a total distributable reserves of HKD 2,025,518,881 as of June 30, 2020[154]. - The interim dividend distributed during the year was HKD 0.01 per share, totaling HKD 11,385,031 to shareholders[152]. - The company did not declare a final dividend for the fiscal year[152]. Impact of COVID-19 - The COVID-19 pandemic significantly impacted the tourism industry, with visitor numbers to Hong Kong dropping from 69.4 million to 24.5 million, a decline of approximately 64.6%[8]. - The pandemic led to a nearly 90% decrease in visitor numbers in the second half of the fiscal year due to government travel restrictions and quarantine measures[8]. - The group anticipates ongoing challenges in the hospitality sector due to the uncertain recovery of the tourism industry[8]. Sustainability and Environmental Initiatives - The group emphasizes sustainable development and corporate social responsibility, integrating these principles into its operations[13]. - The group identified 11 key sustainability issues based on stakeholder engagement, including greenhouse gas emissions, energy consumption, waste management, and customer satisfaction[24]. - As of June 30, 2020, the total greenhouse gas emissions were 8,672.12 tons CO2 equivalent, a decrease from 10,512.08 tons CO2 equivalent in the previous year, representing a reduction of approximately 17.5%[29]. - The group achieved a 25.07% reduction in carbon emissions compared to 2012 levels, equivalent to planting 126,145 trees[30]. - The energy consumption for the group's operations is being actively managed, with a focus on improving energy efficiency and implementing sustainable energy measures[32]. - The group installed 72 solar panels at the City Garden Hotel, generating a total power output of 21.6 kW to promote renewable energy[32]. - The group aims to reduce single-use plastic by 50% by 2022, using 2017 as the baseline year[38]. - The group installed 49 smart water refill stations, saving 294,997 plastic bottles in the year ended June 30, 2020[38]. - Total waste generated for the year ended June 30, 2020, was 1,259 tons, a decrease from 1,542 tons in the previous year[39]. - The group collected 37,078 kg of food waste in the year ended June 30, 2020, down from 70,984 kg in the previous year[44]. - Water consumption for the year ended June 30, 2020, was 152,689 cubic meters, a decrease from 224,845 cubic meters in the previous year[45]. - The group has committed to responsible waste management, focusing on recycling and reducing waste generation[36]. Employee and Workplace Initiatives - The total number of employees as of June 30, 2020, was 1,162, with 317 males and 262 females[51]. - The group aims for a "zero accident" goal in workplace safety, supported by regular reviews and risk assessments[51]. - The group has adopted a "Diversity and Inclusion Policy" to ensure a discrimination-free work environment[50]. - The group has implemented strict occupational health and safety regulations in compliance with local laws[50]. - The group provides various internal and external training opportunities to enhance employees' professional knowledge and skills[52]. - Total training hours for employees reached 15,329.83 hours, with an average training time of 27.50 hours per employee[54]. - 100% of male and female employees received training, with 317 males averaging 24.88 hours and 262 females averaging 28.41 hours[54]. Corporate Governance - The company emphasizes high levels of corporate governance practices and has adopted a customized corporate governance code[67]. - The board consists of nine directors, including four executive directors, two non-executive directors, and three independent non-executive directors[69]. - The company has established a business ethics committee to ensure compliance with ethical standards and protect customer privacy[60]. - The board established four committees: the Remuneration Committee, Nomination Committee, Audit Committee, and Compliance Committee, each with specific responsibilities[75]. - The company has implemented a whistleblowing policy to protect employees reporting unethical behavior, ensuring confidentiality[60]. - The company has established appropriate directors and officers liability insurance for its directors and senior management, which remains effective[166]. Risk Management - The company has implemented a comprehensive enterprise risk management system to identify, assess, respond to, and report risks that may affect its strategic objectives[132]. - The risk management framework follows the "three lines of defense" model, involving the Board, Audit Committee, and Risk and Control Committee for oversight and leadership[133]. - The audit committee conducts at least one annual review of the effectiveness of the risk management and internal control systems, covering all significant monitoring measures[103]. - The company faces major risks including strategic risks from macroeconomic changes and government policy shifts, which could reduce visitor numbers[146]. - Compliance risks related to health and safety regulations due to the COVID-19 pandemic are managed by setting guidelines for employees and ensuring adherence to new regulations[148]. Future Outlook and Strategic Initiatives - The company provided an optimistic outlook, projecting a revenue growth of 10-12% for the next fiscal year[188]. - New product launches are expected to contribute an additional $50 million in revenue over the next year[187]. - The company is investing in new technology development, allocating $30 million for R&D in the upcoming fiscal year[186]. - Market expansion plans include entering two new international markets by Q3 2024[185]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million allocated for potential deals[188].
SINO HOTELS(01221) - 2020 - 年度财报