Financial Performance - For the fiscal year ending June 30, 2021, the group reported a loss attributable to shareholders of HKD 95.3 million, compared to a loss of HKD 76.3 million in the previous year[8]. - The group's revenue for the fiscal year was HKD 112.3 million, down from HKD 160.7 million in the previous fiscal year, representing a decline of approximately 30%[8]. - The loss per share for the fiscal year was HKD 0.0834, compared to HKD 0.0675 in the previous year[8]. - Due to the loss recorded, the board decided not to declare a final dividend for the fiscal year, and no interim dividend was declared either[9]. - There were no significant changes compared to the annual report for the year ending June 30, 2020, aside from the aforementioned matters[14]. Visitor Statistics - The number of visitors to Hong Kong dropped by 99.6% year-on-year to 86,554, with visitors from mainland China decreasing by 99.7% to 49,420[10]. Hotel Operations - The group implemented a two-year bulk leasing arrangement for hotel rooms and facilities to mitigate the impact of the pandemic[11]. - The group focused on attracting local guests with promotional offers and long-term stay packages during the pandemic[11]. - Despite the ongoing pandemic, hotel occupancy rates improved in the second half of the fiscal year as the situation in Hong Kong generally improved[11]. - The average room occupancy rate for City Garden Hotel was 92.8% for the fiscal year, compared to 41.7% in the previous year, with rental income of HKD 68 million, a decrease of 45.8% year-on-year[15]. - The average room occupancy rate for Hong Kong Harbour Grand Hotel was 19.5%, down from 34.8% the previous year, with rental income of HKD 59.9 million, a decrease of 27.2% year-on-year[15]. - The average room occupancy rate for Royal Pacific Hotel was 30.5%, down from 44% the previous year, with rental income of HKD 42.2 million, a decrease of 36.8% year-on-year[15]. Financial Stability - The group remains financially stable and is prepared to seize opportunities during the economic recovery[11]. - The fair value of the investment in Hong Kong Shanghai Hotels Limited was approximately HKD 690.3 million as of June 30, 2021, with unrealized gains of HKD 98.4 million recorded for the fiscal year[15]. - The total investment cost for Hong Kong Shanghai Hotels Limited was approximately HKD 702.51 million[15]. - The group held cash and bank deposits totaling HKD 954.54 million as of June 30, 2021, with no outstanding debts[15]. Sustainability Initiatives - The group committed to sourcing 60% of seafood from sustainable sources by 2025, with 50% of seafood supplied as of June 30, 2021, already having eco-labels and certifications[20]. - The group launched a meal donation program in August 2020, providing 3,000 hot meal boxes to underprivileged families[22]. - The group initiated a "Plastic Reduction Action" in April 2018, aiming to reduce single-use plastics by 50% by 2022 based on 2017 levels[20]. - The group has installed solar panels at City Garden Hotel to promote renewable energy in Hong Kong[19]. - The total greenhouse gas emissions for the year ended June 30, 2021, were 6,943.45 tons of CO2 equivalent, a decrease from 8,672.12 tons in the previous year, representing a reduction of approximately 20%[42]. - Scope 1 emissions increased to 434.58 tons of CO2 equivalent for the year ended June 30, 2021, compared to 41.10 tons in the previous year, indicating a significant rise due to expanded reporting[42]. - Scope 2 emissions decreased to 6,439.83 tons of CO2 equivalent from 8,511.70 tons, reflecting a reduction of about 24%[42]. - The company aims to reduce electricity consumption by 30% by 2030, using 2012 levels as a baseline[45]. - Over 90% of the lighting in hotels has been upgraded to energy-efficient fixtures, contributing to improved energy efficiency[41]. - The company has set a target to reduce greenhouse gas emissions by 30% from 2012 levels by 2030[43]. - The greenhouse gas emissions intensity was reported at 0.02 tons of CO2 equivalent per guest night, down from 0.04 tons in the previous year[42]. - The group aims to reduce water consumption by 20% from 2018 levels by 2030 through various water-saving measures[59]. - The group actively participates in recycling programs, including aluminum capsule recycling and waste oil collection, with a total of 3,120 liters of waste oil recycled in the year ended June 30, 2021[54]. Employee Management - The total number of employees decreased from 579 to 398 from June 30, 2020, to June 30, 2021, representing a reduction of approximately 31.2%[66]. - Employee turnover rates increased significantly, with male turnover rising to 42.5% and female turnover to 55.8% as of June 30, 2021, compared to 28.4% and 25.2% respectively in the previous year[67]. - The average training hours per employee increased to 28.14 hours for males and 30.47 hours for females in 2021, compared to 24.88 and 28.41 hours in 2020, respectively[72]. - The group has maintained a zero record for work-related fatalities over the past three years, with no significant violations of health and safety regulations reported[69]. - The group has established an internal risk and safety team to promote a safe working environment and achieve the goal of "zero accidents"[69]. Corporate Governance - The board consists of nine directors, including four executive directors, two non-executive directors, and three independent non-executive directors[98]. - The company adheres to a customized corporate governance code, complying with all provisions of the Hong Kong Stock Exchange Listing Rules[96]. - The board is responsible for the company's future development direction, overall strategy, and financial performance assessment[100]. - The company emphasizes high levels of corporate governance practices and internal control measures to enhance financial performance and shareholder value[97]. - The company has established four board committees: the Remuneration Committee, Nomination Committee, Audit Committee, and Compliance Committee, each with defined responsibilities[103]. Risk Management - The company has established a risk management system to assist the board in fulfilling its risk management responsibilities[114]. - The internal audit department conducts annual risk assessments and develops a three-year internal audit plan for approval by the audit committee[118]. - The company conducts an annual self-assessment of internal controls based on the COSO framework to evaluate the effectiveness of current monitoring measures[119]. - The risk management function continuously reviews and optimizes the enterprise risk management framework and proposes amendments to the risk and control committee and audit committee[150]. - The group conducts a comprehensive risk assessment annually and a mid-term assessment semi-annually to update the execution progress of risk treatment plans[159]. Community Engagement - The group has conducted over 360 soup distribution events under the "Warm Soup Action" initiative, providing over 47,390 servings of soup to elderly residents since its inception in 2011[92]. - The group has been involved in the "Soap Hope Project" since 2015, recycling discarded hotel soap to promote employment for local women in Hong Kong[93]. - The "Food Donation Program" has been in collaboration with food aid organizations since 2011, distributing carefully prepared meals to local underprivileged families weekly[95]. - The group has dedicated approximately 625 hours to volunteer services in Hong Kong as of June 30, 2021[90]. Compliance and Transparency - The company maintains high transparency and regularly communicates with shareholders to ensure they have access to comprehensive and understandable information[137]. - The company emphasizes the importance of protecting shareholder privacy and will not disclose shareholder information without consent[142]. - The company's website is regularly updated with investor information and complies with listing rules for timely disclosures[144]. - The company has established a comprehensive risk management system to identify, assess, and report risks that may affect its strategic goals[148].
SINO HOTELS(01221) - 2021 - 年度财报