Financial Performance - The group's consolidated revenue for the year ended March 31, 2021, was HKD 168 million, an increase from HKD 111 million in 2020, primarily due to the exit and cashing out of property development projects in the UK and the US[13]. - The group recorded a profit of HKD 31 million for the year, compared to a loss of HKD 85 million in 2020, mainly attributed to a one-time gain from the sale of interests in a subsidiary and foreign exchange gains[13]. - Basic and diluted earnings per share for the year were HKD 0.01, a recovery from a loss of HKD 0.162 per share in 2020[13]. - The board declared a final dividend of HKD 0.03 per share, compared to no dividend in 2020[14]. - The company's available distributable reserves as of March 31, 2021, include a share premium of HKD 400,859,000 and retained earnings of HKD 1,025,272,000, totaling HKD 1,426,131,000[181]. Assets and Liabilities - The total asset value of the company as of March 31, 2021, was HKD 15.49 billion, down from HKD 18.04 billion in 2020[12]. - Current assets amounted to HKD 8.52 billion, compared to HKD 12.07 billion in the previous year, with a current ratio of 3.16 times, up from 2.65 times in 2020[12]. - The equity attributable to ordinary shareholders was HKD 12.77 billion, a decrease from HKD 13.23 billion in 2020[12]. - The group's cash and bank deposits as of March 31, 2021, amounted to HKD 370 million, representing 23.9% of total assets, up from 13.4% in 2020[18]. - The total bank borrowings amounted to HKD 241 million as of March 31, 2021, down from HKD 305 million in the previous year[33]. - The group's net asset liability ratio was zero as of March 31, 2021, compared to 5.0% in the previous year, with a cash net amount of HKD 129 million[32]. Corporate Governance - The company has adopted a corporate governance manual to ensure compliance with the corporate governance code and has maintained adherence to all relevant provisions throughout the fiscal year ending March 31, 2021[40]. - The board of directors consists of a mix of executive and independent non-executive directors, ensuring compliance with the requirement of having at least three independent non-executive directors[47]. - The chairman and CEO roles are held by the same individual, which deviates from the corporate governance code, but the board believes this arrangement serves the company's best interests[49]. - The company has a board diversity policy that considers various factors such as gender, age, education, and professional experience to promote sustainable and balanced development[46]. - The independent non-executive director, Mr. Du, has served since 2009 and will be presented for re-election at the 2021 annual general meeting, maintaining compliance with independence guidelines[52]. Risk Management - The board is responsible for assessing the nature and extent of risks the company is willing to take to achieve its strategic objectives[75]. - The company has adopted risk management policies aimed at managing risks rather than eliminating them[75]. - The board believes that the risk management and internal control systems are effective and adequate, with ongoing monitoring in place[77]. - The company has established a robust risk management system, including risk identification, analysis, assessment, and treatment procedures to monitor and address significant risks continuously[76]. - An external consultant was hired to conduct internal control reviews, and the results were discussed and approved by management[75]. Employee and Training - The total employee compensation for the year was HKD 25 million, a decrease from HKD 41 million in the previous year[37]. - Employee training participation rates are high, with 80% of management and 94.44% of non-management staff receiving training in the office[119]. - The average training hours for management in the office is 28.55 hours, while non-management staff receive an average of 6.26 hours[119]. - The company provides an annual training subsidy of up to HKD 6,000 for employees to pursue relevant external training courses[117]. - The company has maintained a record of zero fatal accidents and zero injury cases in office operations over the past three years[129]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report is prepared according to the guidelines set by the Hong Kong Stock Exchange, ensuring compliance with regulatory requirements[91]. - The report includes quantifiable key performance indicators related to the company's environmental and social performance[92]. - The company emphasizes sustainable development as crucial for long-term growth, integrating environmental and social considerations into daily operations[97]. - The company aims for zero accidents on construction sites and emphasizes compliance with health and safety regulations[101]. - The company has implemented measures to reduce carbon emissions by optimizing resource usage in office operations, particularly in electricity and fuel consumption[140]. Business Development and Strategy - The company is actively seeking new high-potential real estate redevelopment projects in Hong Kong while maintaining its existing projects[10]. - The company is expanding its asset, investment, and fund management business, which provides stable recurring income throughout the year[7]. - Future projects in Hong Kong, such as the Wanchai and Wong Chuk Hang projects, are on schedule for delivery in the first half of the following year[6]. - The company plans to explore new growth opportunities in Australia, Europe, and Southeast Asia post-COVID-19[28]. - The company is committed to creating a fair and transparent work environment, adhering to employment-related laws and regulations[114].
宏基资本(02288) - 2021 - 年度财报