Financial Performance - The company reported a revenue of HKD 3,386.9 million, representing a year-on-year increase of 21.2%[14] - Gross profit increased by 10.0% to HKD 811.1 million, with an overall gross margin of 23.9%[14] - EBITDA rose by 32.7% to HKD 1,131.9 million[14] - Profit attributable to shareholders increased by 82.1% to HKD 516.3 million[14] - Total revenue for the year ended December 31, 2020, was approximately HKD 3,386.9 million, an increase from HKD 2,794.0 million in 2019, representing a growth of 21.2%[21] - The gross profit for the year was approximately HKD 811.1 million, an increase of 10.0% from HKD 737.2 million in the previous year, with a gross margin decrease from 26.4% to 23.9%[38] - The pre-tax profit for the year ended December 31, 2020, was approximately HKD 582.4 million, an increase of 80.3% compared to HKD 323.1 million in 2019[39] - Profit attributable to owners for 2020 was approximately HKD 516.3 million, an increase of about 82.1% from HKD 283.6 million in the previous year, with basic earnings per share rising to HKD 0.1997 from HKD 0.1112[46] Business Development and Strategy - The company aims to expand its distributed energy business in Southeast Asia, China, the UK, and the Middle East[15] - A joint venture with China Technology Import and Export Corporation was established to enter the liquefied natural gas power generation market[15] - The company plans to invest in clean technologies such as combined heat and power, hybrid generation, and renewable energy[16] - The company strengthened its partnership with Rolls-Royce Power Systems AG to expand into the Chinese commercial shipping market[13] - The company has successfully built a diversified project portfolio utilizing various fuels including natural gas, biogas, and biodiesel[15] - The company is committed to reducing its carbon footprint and enhancing its capabilities in distributed power generation[16] - The company is entering the liquefied natural gas (LNG) power generation market through a joint venture, aiming to expand its capabilities in LNG power generation and the surrounding supply chain[26] Financial Stability and Cash Flow - The company maintained a strong cash flow and successfully reduced net debt levels following a share placement completed in July 2020[18] - As of December 31, 2020, total current assets were HKD 3,348.1 million, down from HKD 3,956.0 million in 2019, while cash and cash equivalents increased to HKD 978.2 million from HKD 772.4 million[47] - The company's debt-to-asset ratio was 61.9% as of December 31, 2020, a decrease from 68.1% in 2019, indicating improved financial stability[47] - The company raised approximately HKD 293.3 million from the placement of 83,000,000 shares at a price of HKD 3.75 per share, which is a discount of about 12.99% from the closing price of HKD 4.31 on July 14, 2020[52] Corporate Governance - The company has complied with all provisions of the Corporate Governance Code as of December 31, 2020[68] - The board consists of 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors, ensuring a diverse governance structure[73] - The company has established three board committees: audit, remuneration, and nomination, each with defined roles and responsibilities[80] - The board is responsible for corporate governance and has adopted the principles of the Corporate Governance Code, reviewing policies and practices regularly[88] - The company emphasizes the importance of board diversity, considering factors such as gender, cultural background, and industry experience in selecting directors[87] Risk Management - The company has established a corporate risk management framework to effectively assess and monitor strategic, investment, financial, operational, and business risks[141] - The board of directors oversees the overall management of risks, while internal audit assists in reviewing and monitoring key risks[142] - The company is committed to identifying, monitoring, and managing risks associated with its business activities, aiming to provide reasonable assurance against material misstatements or losses[90] - The internal audit department provides independent assurance on the effectiveness of the company's risk management and internal control systems[150] Sustainability and Environmental Commitment - The company is committed to sustainability and will publish its sustainability report within three months after the annual report[139] - The company has established an environmental management system and has obtained ISO 14001 and ISO 9001 certifications for its facilities in Shenzhen and several projects in Indonesia[101] - The company has not identified any significant violations related to environmental protection during the year ended December 31, 2020[102] - The company has implemented long-term plans to address climate change risks, including measures to reduce greenhouse gas emissions through its electricity business[144] Shareholder Engagement and Dividends - The company emphasizes the importance of safeguarding shareholder rights, allowing shareholders to attend meetings and propose candidates for the board[95] - The company proposed a final dividend of HKD 0.0345 per share for the year ended December 31, 2020, subject to shareholder approval at the annual general meeting on June 11, 2021[106] - A mid-term cash dividend of HKD 0.0151 per share was distributed, totaling HKD 39,967,000 for the year ended December 31, 2020[107] - As of December 31, 2020, the company's distributable reserves amounted to HKD 2,152.2 million, with HKD 91.3 million proposed for the final dividend[111] Employee and Management Structure - As of December 31, 2020, the company had 628 employees, an increase from 466 employees in 2019[53] - The management team is committed to driving overall business development and improving customer service[64] - The diverse expertise of the board and management team supports the company's strategic objectives and operational efficiency[60][61][62][63][64][65] Financial Reporting and Compliance - The group’s financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, with all values presented in Hong Kong dollars (HKD) rounded to the nearest thousand[176] - The company has adopted revised Hong Kong Financial Reporting Standards, including those related to business definitions and interest rate benchmark reforms, with no significant impact on the group's financial position and performance[178] - The group has several interest-bearing bank loans based on the Hong Kong Interbank Offered Rate (HIBOR) and the London Interbank Offered Rate (LIBOR) as of December 31, 2020[183]
伟能集团(01608) - 2020 - 年度财报