Financial Performance - The company recorded revenue of approximately HKD 105.8 million and a profit attributable to owners of approximately HKD 306.9 million for the year ended December 31, 2020[7]. - Basic and diluted earnings per share were approximately HKD 0.4785 and HKD 0.3773, respectively[7]. - Revenue for the fiscal year was approximately HKD 105.8 million, down from approximately HKD 174.4 million in 2019[11]. - Profit attributable to owners increased significantly from approximately HKD 23.7 million in 2019 to approximately HKD 306.9 million in 2020[11]. - The company's revenue for the year ended December 31, 2020, was approximately HKD 105.8 million, a decrease of about HKD 68.6 million compared to HKD 174.4 million in 2019[14]. - The profit attributable to owners for the same period was approximately HKD 306.9 million, an increase of about HKD 283.2 million from HKD 23.7 million in 2019[14]. - The property development segment reported revenue of approximately HKD 38.5 million, down from HKD 109.8 million in 2019[16]. - The company confirmed rental income from unsold commercial units at Rainbow Square, generating revenue of approximately HKD 34.3 million[17]. - The revenue from the shared workspace business was approximately HKD 32.4 million, a decrease of about HKD 0.7 million compared to the previous year[24]. - The total carrying value of the investment property portfolio was approximately HKD 1,050.7 million, down from HKD 1,105.4 million in the previous year[24]. - The total equity as of December 31, 2020, was approximately HKD 1,413.7 million, up from approximately HKD 951.9 million in the previous year[33]. - The total current assets as of December 31, 2020, were approximately HKD 2,942.2 million, down from approximately HKD 3,319.6 million in the previous year[33]. - The company reported a cash reserve available for distribution of approximately HKD 665.9 million as of December 31, 2020[187]. Acquisitions and Investments - The company completed a significant acquisition of the lifestyle brand "Metropolitan" group, which is expected to provide stable cash flow and enhance property value through synergy with existing development projects[8]. - The acquisition of Metropolitan Group (BVI) Limited was completed for a total consideration of HKD 460 million, with a 3% annual coupon rate on the issued convertible bonds[38]. - The company has expanded its property development scope to South Korea, in addition to its primary operations in Hong Kong[130]. - The company has initiated construction and renovation business under the "Metropolitan" brand, diversifying its service offerings[130]. Market Outlook and Strategy - The company is optimistic about the property market in Hong Kong for 2021 and aims to provide exceptional value products and services to stand out among competitors[8]. - The company is actively seeking market opportunities and adjusting its business strategies to adapt to the market environment[8]. - The company anticipates a favorable environment for the property market due to low interest rates and a certain level of inflation, as indicated by the Federal Reserve's recent statements[54]. - The company believes that the economic recovery will accelerate as vaccination efforts progress, positively impacting property sales[54]. Corporate Governance - The company has maintained compliance with the corporate governance code as of December 31, 2020, except for the separation of the roles of chairman and CEO[74]. - The board believes that having both roles held by the same individual provides strong and consistent leadership for the company's business strategy[75]. - The company has a commitment to high standards of corporate governance to enhance investor confidence and shareholder returns[73]. - The board consists of 8 members, including 4 executive directors, 1 non-executive director, and 3 independent non-executive directors[78]. - The company has established five permanent committees with specific roles and responsibilities, regularly reviewing and updating their terms of reference to reflect good governance practices[97]. - The audit committee is composed of three independent non-executive directors, ensuring effective oversight of financial reporting and risk management[98]. - The company has adopted a board diversity policy to enhance performance quality, considering factors such as gender, age, cultural background, and professional experience[89]. Risk Management - The company has established a risk control committee to coordinate and address potential risks and uncertainties affecting its business[51]. - The company is facing potential risks including rising construction costs and legislative changes that may impact project completion timelines[50]. - The company has taken measures to monitor employee health and ensure safety protocols are followed on construction sites during the pandemic[53]. - The company has a structured approach to ensure sufficient independence and oversight within the board[75]. - The company has implemented measures to ensure compliance with listing rules regarding stock options, including seeking legal advice before granting options[113]. Employee and Social Responsibility - The company has provided competitive compensation and benefits to employees, adhering to labor laws and regulations[145]. - The company has taken measures to protect employees during the COVID-19 pandemic, including mandatory mask-wearing and providing hand sanitizers[150]. - The company has maintained a zero fatality rate due to work-related accidents over the past three years, with zero lost workdays due to injuries in the year ending December 31, 2020[151]. - The company encourages stakeholder engagement to gather feedback and improve its ESG performance[131]. - The company aims to enhance its social responsibility through community investment and support for local entrepreneurship[170]. Environmental Initiatives - The company has implemented a green office program to encourage energy-saving habits among employees, including turning off idle electronic devices and using natural light[134]. - The company has a commitment to environmental protection and compliance with applicable environmental laws and regulations[135]. - The company has introduced energy-efficient equipment in the office, such as motion sensors to prevent energy waste[140]. - The company has not reported any significant non-compliance issues regarding emissions and waste management laws during the review year[139]. Shareholder Information - The board of directors did not recommend a final dividend for the year ended December 31, 2020, while an interim dividend of HKD 0.02 per share was declared for the six months ended June 30, 2020[180]. - The company has adopted a dividend policy to enhance transparency for shareholders and investors, considering factors such as actual and expected financial performance, shareholder interests, and overall economic conditions[117]. - The board will assess the company's financial performance and liquidity status when determining future dividend declarations[117].
星星集团(01560) - 2020 - 年度财报