Financial Performance - The Group's revenue for FY2020 was approximately HK$106.4 million, representing a decline of approximately HK$313.4 million or 74.7% compared to FY2019 revenue of approximately HK$419.8 million[13]. - The Group recorded a net loss of approximately HK$223.8 million for FY2020, compared to a net loss of approximately HK$223.9 million for FY2019, with basic loss per share of HK$2.09 cents[13]. - Revenue from the property development business dropped by approximately HK$240.6 million for FY2020, representing a decline of 71.2% over FY2019[13]. - Revenue from the foundation piling segment dropped by approximately HK$75.7 million for FY2020, representing a decrease of 92.5% over FY2019[13]. - The Group recorded revenue of approximately HK$106.4 million for FY2020, representing a decrease of approximately HK$313.4 million or 74.7% compared to FY2019 revenue of approximately HK$419.8 million[28]. - The Group's property sales launched in 2017 generated revenue of approximately HK$97.3 million for FY2020, a decline of 71.2% compared to FY2019, primarily due to the pandemic and weakened financial conditions of potential homebuyers[25]. - Gross profit for FY2020 was approximately HK$10.8 million, compared to a gross loss of approximately HK$10.4 million for FY2019[30]. - Other income and losses increased from losses of approximately HK$15.2 million in FY2019 to losses of approximately HK$53.7 million in FY2020[30]. - The net loss for FY2020 was approximately HK$223.8 million, compared to approximately HK$223.9 million for FY2019[39]. Strategic Focus and Future Outlook - The demand for wellbeing-related goods and services is expected to continue increasing, providing opportunities for the Group's sustainable expansion in property development and healthcare holiday resort operations[13]. - The Group expects the remaining properties to be sold out by the second half of 2020, with a continued focus on residential property development as a core business[25]. - The Group has developed a resort project in Shanghai with a total site area of approximately 150,602 square meters and a gross floor area of approximately 77,213 square meters, providing health preservation and elderly care services[25]. - The Group's long-term growth strategy focuses on property development in tourism, health preservation culture, and medical health as core business areas[19]. - The Group plans to explore different financing channels to acquire land reserves or property development companies to improve revenue and profitability[39]. - The Group plans to acquire land reserves to secure future saleable resources, viewing this as a key success factor in the PRC property market[41]. Environmental, Social, and Governance (ESG) Initiatives - Environmental, Social, and Governance (ESG) initiatives are being prioritized, with a commitment to reduce carbon emissions by 30% over the next five years[73]. - The Group's NOx emissions decreased by 76.36% from 2,200 kg in FY2019 to 520 kg in FY2020[95]. - The Group's SOx emissions reduced by 76.92% from 13 kg in FY2019 to 3 kg in FY2020[95]. - The Group's PM emissions fell by 76.22% from 164 kg in FY2019 to 39 kg in FY2020[95]. - Direct CO2 emissions (Scope 1) decreased by 71.15% from 9,057 tonnes in FY2019 to 2,613 tonnes in FY2020[95]. - Indirect CO2 emissions (Scope 2) dropped by 73.81% from 126 tonnes in FY2019 to 33 tonnes in FY2020[95]. - The Group aims to ensure compliance with all applicable environmental legislation and has not reported any non-compliance during the ESG Reporting Year[86]. - The Group has implemented an internal environmental protection awareness program to encourage employees and clients to improve environmental performance[88]. - The Group's carbon footprint for the ESG Reporting Year was 2,646 tonnes of CO2 equivalent, a reduction of 71.18% compared to the previous year (9,183 tonnes)[99]. Corporate Governance - The Company held 9 Board meetings during the year ended 31 March 2020[175]. - The Board is responsible for leadership and control of the Company and oversees the Group's businesses, strategic decisions, and performance[166]. - The Company complied with the applicable code provisions of the CG Code except for the deviation from code provision A.2.1, where the roles of chairman and chief executive are not separated[163]. - The composition of the Board is well balanced with each Director having sound board level experience and expertise relevant to the business operations and development of the Group[169]. - The Company has established an Audit Committee to oversee financial reporting, internal control procedures, and risk management systems[184]. - The Audit Committee's primary duties include assisting the Board with financial reporting effectiveness and overseeing the audit process[184]. - The Company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience in recommending candidates for the Board[189]. Employee and Labor Practices - The Group adheres to all applicable employment and labor laws, ensuring compliance in its operations in mainland China[116]. - The Group's remuneration policy ensures competitive compensation, including performance bonuses, to attract and retain talent[120]. - Employees are entitled to Mandatory Provident Fund (MPF) contributions based on a percentage of their basic salaries, which are charged to the Group's profit or loss as they become payable[123]. - The Group emphasizes equal opportunities in recruitment, promotion, training, and all employment practices, prohibiting discrimination based on various factors[127]. - The employee gender distribution is 54% male and 46% female, indicating a balanced workforce[128]. - The Group has implemented a strict occupational health and safety policy, ensuring a safe working environment and promoting work-life balance through various employee activities[136]. Management and Leadership - Mr. Dai Dong Xing has been appointed as the chairman of the Board and an executive Director since August 14, 2017, with extensive experience in property operation and management[62]. - The company has a history of stability in its executive team, with key appointments dating back to 1999[62]. - The management team has a strong educational background, with degrees in business administration and engineering[62]. - The leadership team has experience in navigating complex financial environments, which is crucial for future growth[65].
保集健康(01246) - 2020 - 年度财报