Financial Performance - Revenue for the year reached HKD 205,038,000, representing a 21.55% increase from HKD 168,680,000 in the previous year[10] - EBITDA increased to HKD 100,733,000, a growth of 56.09% compared to HKD 64,534,000 in the prior year[11] - Net profit for the year was HKD 52,883,000, marking a significant rise of 73.14% from HKD 30,544,000 in 2019[12] - Cash and cash equivalents rose to HKD 85,914,000, up 64.38% from HKD 52,267,000 year-on-year[14] - Trade receivables decreased by 58.84%, falling to HKD 191,000 from HKD 464,000[15] - Net assets increased to HKD 196,230,000, reflecting a growth of 13.41% from HKD 173,027,000[16] Revenue Breakdown - Revenue from elderly care services rose from approximately HKD 126.77 million to about HKD 153.66 million, an increase of approximately 21.21%[46] - Revenue generated from the Social Welfare Department's rental of beds under the Improvement Purchase Scheme increased from approximately HKD 34.73 million to about HKD 38.36 million, a growth of approximately 10.47%[47] - Revenue from individual clients renting beds rose from approximately HKD 91.46 million to about HKD 111.65 million, reflecting an increase of approximately 22.07%[49] - Revenue from the sale of elderly-related products and health services increased from approximately HKD 41.91 million to about HKD 51.38 million, a growth of approximately 22.59%[54] Operational Developments - The company plans to enhance its information technology capabilities to facilitate better communication for elderly residents[20] - The company aims to provide more quality accommodations for the elderly, ensuring a comfortable living environment[21] - The company plans to continue expanding its elderly care home network in strategic locations in Hong Kong to serve more elderly residents[27] - The crisis response team was established to monitor the situation of elderly homes amid the COVID-19 pandemic, with no adverse impact on business operations reported[28] - The company has implemented special measures to enhance infection control, including reducing visiting hours and ensuring adequate supplies of protective equipment for staff and residents[28] Employee and Management - Employee costs rose from approximately HKD 60.04 million to about HKD 75.34 million, an increase of approximately 25.47% due to the growth in the number of elderly homes operated[55] - The group employed 381 staff as of December 31, 2020, an increase from 340 employees in 2019, and provided competitive compensation and benefits[66] - The management team is committed to continuous training and development of healthcare professionals to improve operational efficiency[77] - The company has established a fair and competitive compensation system based on principles of fairness, competition, and legality, providing a competitive salary package that includes fixed salary and annual performance bonuses[195] Corporate Governance - The company emphasizes the importance of corporate governance and has established various committees to oversee business strategies and compliance[80] - The board consists of four executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced skill set and experience[96] - The company has adopted and complied with the corporate governance code as per GEM listing rules, enhancing governance standards[94] - The board believes that the risk management and internal control systems are adequate and effective, complying with corporate governance codes[124] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes sustainable development as a core part of its business strategy, focusing on environmental, social, and governance (ESG) matters[142] - The company has established a dedicated ESG working group to manage and report on its ESG performance, which regularly reports to the board[143] - The company conducts annual materiality assessments to understand stakeholder expectations and concerns regarding its ESG performance[154] - The company aims to enhance stakeholder engagement through constructive dialogue and strategic adjustments based on feedback[152] Environmental Impact - The total greenhouse gas emissions increased by approximately 34% due to the addition of a new elderly care home during the reporting period[162] - The total waste generated was approximately 1,389.92 tons in 2020, up from 901.21 tons in 2019, marking a significant increase[172] - Total energy consumption increased by approximately 31% during the reporting period, primarily due to the addition of a new elderly care facility, with total energy consumption reaching 3,016.56 MWh compared to 2,302.15 MWh in 2019[181] Stakeholder Communication - The company maintains extensive communication channels with stakeholders, including annual general meetings and financial reports[139] - The company has a structured approach to stakeholder communication, ensuring compliance with relevant laws and regulations[152]
恒智控股(08405) - 2020 - 年度财报