Financial Performance - The Group's revenue for the year ended June 30, 2020, was HK$231.5 million, representing a 10.0% increase compared to HK$210.4 million in 2019[11]. - The loss attributable to owners of the Company for the year ended June 30, 2020, was HK$260.5 million, an improvement from a loss of HK$360.9 million in 2019[11]. - Profit from player transfer activities for the year ended June 30, 2020, amounted to approximately HK$115.5 million, which was HK$73.4 million more than the previous year[27]. - The basic loss per share for the year ended June 30, 2020, was approximately HK1.47 cents, compared to approximately HK2.66 cents for the year ended June 30, 2019[28]. - The Group recorded rental income of approximately HK$24.8 million from investment properties during the year ended 30 June 2020[35]. - Other income for the year was approximately HK$14.6 million, an increase of about 66.4% compared to the previous year, mainly due to government subsidies received[59]. - The Group's reserves available for distribution as of June 30, 2020, amounted to approximately HK$127,240,000, down from approximately HK$229,224,000 in 2019[93]. - The Group incurred a loss of approximately HK$22.4 million due to changes in fair value of its investment properties during the same period[36]. - The total comprehensive expense for the year attributable to owners of the company was HK$272,955,000, down from HK$371,005,000 in 2019[169]. Business Operations - The Group operates in three main business segments: operation of Birmingham City Football Club, investment in properties, and provision of lottery system and online payment system service solutions[8]. - The Club finished at the 20th position in the English Football League Championship Division for the 2019/20 season, marking its 9th consecutive season in this division[9]. - The management aims to improve the overall game performance of the Club and achieve a higher ranking in the league for the 2020/21 season[9]. - The Group's investment in properties remains a key focus area for future growth[10]. - The Group acquired a system service provider for lottery and online payment systems, aiming to capitalize on the significant development potential in this industry[16]. - The Group completed the acquisition of a medical service business in Japan in July 2020, aiming to enhance market share and position[44]. - The medical service business will focus on attracting high net worth customers from China for medical services in Japan[44]. - The Group's operations include a football club in the UK, property investment in Cambodia, and provision of lottery and online payment system services[70]. Financial Position and Risks - The ongoing COVID-19 pandemic has significantly impacted global economic activities, affecting the Group's operations and market conditions[21]. - The Group's current liabilities exceeded current assets by approximately HK$573.5 million as of June 30, 2020, compared to HK$187.0 million in 2019[62]. - The gearing ratio increased to 59.9% as at June 30, 2020, compared to 26.4% in 2019, reflecting higher leverage[61]. - The ratio of total liabilities to total assets was 71.7% as at June 30, 2020, up from 44.4% in 2019, indicating increased financial risk[61]. - The Group is exposed to financial risks relating to interest rate, foreign currency, credit, and liquidity risk in its ordinary course of business[76]. - The Group's financial condition and results of operations may be influenced by fluctuations in the global economy or specific markets[74]. Management and Strategy - The management is optimistic about the potential for revenue growth in the upcoming fiscal year[12]. - The Group continues to explore opportunities for market expansion and strategic partnerships[12]. - The Company is focused on enhancing its operational efficiency and financial performance moving forward[12]. - The Group's management will continue to streamline operations and implement stringent cost control measures to enhance competitiveness[24]. - The management plans to diversify the Group's business and broaden revenue streams while exploring cooperation opportunities with business partners[23]. Corporate Governance - The Company aims to achieve a high standard of corporate governance to safeguard shareholders' interests[117]. - The Board comprises a total of nine members, including five Executive Directors and three Independent Non-executive Directors[118]. - The Company has received written annual confirmation from each Independent Non-executive Director regarding their independence[119]. - The Company is committed to providing tailored induction for newly appointed Directors to ensure understanding of business operations and responsibilities[119]. - The Company has established a range of communication channels with shareholders, including annual general meetings and reports available on its website[162]. Accounting Policies - The Group's financial statements include significant accounting policies that ensure accurate measurement and reporting of assets and liabilities[195]. - Investment properties are measured initially at cost, including all direct costs, and are subsequently stated at fair value based on external independent valuation[196]. - The Group's amortization expense for intangible assets is recognized in profit or loss and included in administrative and operating expenses[198]. - The Group must recognize impairment charges for intangible assets if applicable, even if amortization is suspended upon reclassification[198]. - The Group's financial statements continue to report under HKAS 17 for comparative information, without restating prior periods[184].
大象未来集团(02309) - 2020 - 年度财报