新意网集团(01686) - 2021 - 年度财报

Financial Performance - Revenue from continuing operations increased by 9% year-on-year to HKD 1,874 million, driven by demand for data center services, particularly from hyperscale and cloud customers [15]. - EBITDA from continuing operations rose by 15% year-on-year to HKD 1,360 million [14]. - Basic profit attributable to shareholders increased by 11% year-on-year to HKD 788 million [14]. - The company reported a profit from continuing operations of HKD 399,066 million for the period [9]. - The gross profit for the first half of 2021 was HKD 560,211 million, compared to HKD 543,951 million in the same period of 2020 [9]. - Operating profit for the first half of 2021 was HKD 490,743 million, an increase from HKD 470,478 million in the previous year [9]. - Operating profit from continuing operations increased by 11% year-on-year to HKD 961 million [27]. - Net profit attributable to shareholders rose by 1% year-on-year to HKD 788 million, excluding a fair value gain of HKD 74 million from the sale of investment properties [27]. - Financial costs decreased by 38% year-on-year to HKD 22 million due to lower interest rates [27]. - The company reported a profit of HKD 787,727 thousand for the year, slightly down from HKD 783,249 thousand in the previous year, indicating a marginal decrease of about 0.6% [164]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to HKD 16,471,609 million, up from HKD 15,181,752 million in 2020 [10]. - Total liabilities increased to HKD 12,021,277 million in 2021 from HKD 10,856,529 million in 2020 [10]. - The company’s total equity as of June 30, 2021, was HKD 4,450,332 million, compared to HKD 4,325,223 million in 2020 [10]. - The debt-to-equity ratio was 229%, which would be 155% excluding the long-term unsecured shareholder loan from Sun Hung Kai Properties [30]. - Non-current assets increased to HKD 15,694,200 thousand in 2021 from HKD 14,419,009 thousand in 2020, representing a growth of approximately 8.8% [162]. - Current assets rose to HKD 15,697,910 thousand in 2021, up from HKD 14,422,719 thousand in 2020, indicating an increase of about 8.8% [162]. - Total liabilities decreased from HKD 1,455,241 thousand in 2020 to HKD 1,144,950 thousand in 2021, a reduction of approximately 21.3% [162]. Dividends - The board proposed a final dividend of HKD 0.194 per share for the year ended June 30, 2021, to be distributed on November 25, 2021, pending shareholder approval [16]. - The company reported a final dividend of HKD 0.194 per share for the year ended June 30, 2021, an increase from HKD 0.175 per share in 2020, totaling HKD 0.194 for the full year [58]. - The board's dividend policy aims to provide stable distributions to shareholders, contingent on financial performance, capital needs, future investment plans, cash flow, and overall business and economic conditions [58]. Data Center Expansion - The company aims to expand its data center services to meet increasing customer demand in the cloud sector [15]. - The new data center MEGA IDC (TKOTL 131) in Tseung Kwan O is expected to be completed by the end of 2022, with advanced infrastructure and ultra-high power density [17]. - The total floor area of the company's data centers in Hong Kong will expand from 1.4 million square feet to nearly 3 million square feet, with power capacity increasing from 70 MW to 280 MW upon completion of three new projects [24]. - MEGA-i currently has approximately 15,000 fiber optic interconnections, enhancing its position as a major network hub in Asia [21]. - The company has completed optimization projects that increased power capacity by 40%, receiving very positive feedback from customers [21]. - A new single-user data center project announced on July 7, 2021, will become the company's eighth data center in Hong Kong, fully leased by a major hyperscale customer [23]. - The new data centers are strategically positioned to meet the growing demand for high-end data center facilities in Hong Kong [24]. Governance and Management - The company has a governance structure that includes a remuneration committee to oversee compensation matters [33]. - The company emphasizes the importance of market performance and individual contributions in determining director remuneration and bonuses [34][35]. - The board conducts annual reviews of director remuneration to ensure alignment with market standards and company performance [34]. - The company has established a service contract with the Executive Director since March 1, 2003, which is also subject to a three-year term and can be terminated with six months' notice [35]. - The company has a governance structure with various committees including audit, remuneration, and nomination committees [39]. - The board consists of 17 members, including 5 executive directors and 6 independent non-executive directors, ensuring a balanced governance structure [121]. - The company has adopted major corporate governance practices to uphold high standards of business ethics and corporate governance [117]. - The board is responsible for setting corporate goals, monitoring performance, and approving significant acquisitions and disposals [123]. Risk Management - The group has implemented a risk management policy that includes identifying, assessing, mitigating, reporting, and monitoring key business risks [143]. - The board has ensured that resources, employee qualifications, and training related to accounting and internal control functions are adequate [144]. - The group aims to manage rather than eliminate risks that may prevent achieving business objectives [144]. - The group has established procedures for handling and disclosing inside information in compliance with securities regulations [145]. - The group has identified key risks including the timely completion of two new data centers and upgrading existing ones to meet market demand [142]. Share Options and Remuneration - The company has a stock option plan that allows for the granting of options without performance targets or minimum holding periods prior to exercise [6]. - The company’s share options plan aims to attract, retain, and incentivize high-performing participants for future development and expansion [79]. - The company’s remuneration policy includes regular market benchmarking to ensure competitiveness [84]. - The group implements a performance-based culture with discretionary bonuses based on overall performance and individual contributions [85]. Compliance and Legal Matters - The company is committed to ensuring compliance with various legal regulations, which incurs significant internal resources and additional operational costs [60]. - The company has maintained compliance with public float requirements as per the listing rules [116]. - All independent non-executive directors have confirmed their independence according to the listing rules [66]. - The company has no relationships with any of its directors that could affect their independence [47][48]. Financial Reporting and Standards - The company’s financial performance and operational results are detailed in the audited consolidated financial statements for the year ended June 30, 2021 [57]. - The independent auditor confirmed that there were no significant uncertainties regarding the company's ability to continue as a going concern [157]. - The company’s consolidated financial statements are prepared based on historical cost, except for investment properties and certain financial instruments measured at fair value [176]. - The group recognizes revenue upon the transfer of control of goods or services to customers, with specific performance obligations defined [180].