Environmental and Sustainability Initiatives - The company conducted an environmental, social, and governance (ESG) risk assessment to identify potential impacts of climate change on its business and developed control measures to mitigate climate-related risks[7]. - The company aims to enhance climate resilience and management by implementing preventive measures in property projects and investing in areas less prone to natural disasters[7]. - The company has committed to reducing greenhouse gas emissions and energy consumption by prioritizing energy-efficient products and redesigning air conditioning systems[10]. - The company has implemented various measures to promote sustainability and transition to green buildings, including the installation of solar panels and energy-efficient systems[9]. - The company generated approximately 9,822 kWh of renewable energy from solar panels during the reporting period, a decrease from 10,514 kWh in the previous year[28]. - The company purchased renewable energy certificates, obtaining about 9,822 kWh of energy from local solar and wind power systems during the reporting period, compared to 10,514 kWh in the previous year[28]. - Total greenhouse gas emissions (Scope 1 and 2) decreased to 623.24 tons CO2 equivalent from 708.04 tons, a reduction of approximately 12%[55]. - Total energy consumption was 1,034.05 MWh, down from 1,126.00 MWh, representing a decrease of about 8.2%[55]. - The total amount of harmless waste generated was 1.26 tons, slightly down from 1.30 tons, indicating a reduction of about 3.1%[55]. - The total water usage increased to 9,389.86 cubic meters from 8,792.28 cubic meters, an increase of approximately 6.8%[55]. - The company has implemented various environmental regulations including the Air Pollution Control Ordinance and the Water Pollution Control Ordinance[66]. - The company has set emission reduction targets and outlined steps to achieve these goals in its green initiatives[68]. - The total water consumption and density metrics are disclosed, with a focus on water management strategies[70]. - There were no significant harmful waste generated during the reporting period, indicating effective waste management practices[68]. Financial Performance - The company's revenue for the year was HKD 5,524 million, representing a 3.5% increase compared to HKD 5,482 million in the previous year[44]. - The net operating profit attributable to shareholders was HKD 167 million, a decrease from HKD 180 million in the prior year, indicating a decline of approximately 7.2%[44]. - Earnings per share (EPS) for the year was HKD 0.65, compared to HKD 0.62 in the previous year, reflecting a growth of 4.8%[44]. - The company's total assets reached HKD 5,425 million, with a net asset value per share of HKD 49.2[44]. - The debt ratio was reported at 55.0%, showing a slight increase from 54.0% in the previous year[44]. - The audited consolidated net loss after tax and non-controlling interests for the year ended September 30, 2024, is approximately HKD 597.1 million, compared to a loss of HKD 181.7 million in 2023[135]. - The group reported a revaluation loss on investment properties of approximately HKD 626.5 million, compared to HKD 214.9 million in the previous year[135]. - Total financial costs amounted to approximately HKD 22.4 million, an increase of HKD 4.1 million compared to the same period last year, attributed to high interest rates during the period[184]. Corporate Governance - The company emphasizes the importance of good corporate governance practices to enhance shareholder value and investor confidence[85]. - The board consists of six members, with three executive directors and three independent non-executive directors, ensuring compliance with listing rules[90]. - Independent non-executive directors are actively involved in various committees, providing independent judgment on the group's development and performance[97]. - The company has established mechanisms to ensure the independence of the board, with three out of six directors being independent non-executive directors[97]. - The company is committed to maintaining high standards of corporate governance and regularly reviews its organizational structure[86]. - The board retains decision-making authority on significant matters, including financial reporting and major transactions[87]. - The company has established appropriate insurance coverage for its directors against legal actions[108]. - The board of directors has established three committees: the Remuneration Committee, the Audit Committee, and the Nomination Committee, to oversee specific aspects of the company's affairs[114]. - The Audit Committee is tasked with reviewing financial statements and reports before submission to the board, ensuring the adequacy and effectiveness of the company's financial reporting and internal control systems[124]. - The company has a commitment to transparency in its remuneration policies, ensuring that directors do not participate in determining their own remuneration[116]. Community Engagement and Social Responsibility - The company made charitable donations totaling HKD 18,000 during the reporting period to support environmental protection, sustainable development, and community health and well-being[35]. - The company participated in a fundraising campaign that distributed nearly 13,700 vouchers, raising approximately HKD 1 million for charitable causes[39]. - The company has committed to community engagement and investment, focusing on environmental protection and sustainable development[35]. - The company encourages employee participation in charitable activities and values its social responsibility[200]. - Community engagement initiatives were discussed, focusing on understanding community needs and ensuring business activities consider community interests[165]. Employee and Workforce Development - Employee headcount rose to 76 from 72, reflecting a growth of about 5.6%[57]. - Employee turnover rate significantly decreased to 3% from 31%, a reduction of approximately 90.3%[57]. - Average training hours per employee increased to 2.0 hours from 1.5 hours, an increase of about 33.3%[63]. - The number of suppliers in Hong Kong increased to 187 from 170, representing a growth of about 10%[63]. - The percentage of employees trained was broken down by gender and employee category, showcasing the company's commitment to workforce development[164]. - The company has established policies to prevent child labor and forced labor, ensuring compliance with significant laws and regulations[165]. - The company has implemented safety measures to prevent occupational hazards, complying with relevant laws and regulations[163]. - The report highlighted the number of work-related fatalities and the corresponding rates over the past three years, emphasizing the importance of workplace safety[163]. Market and Investment Strategy - The company plans to maintain its focus on sustainable development and environmental management as part of its ESG initiatives[47]. - The company is committed to enhancing its market presence through strategic initiatives and potential acquisitions in the upcoming fiscal year[44]. - The company aims to enhance its market position through strategic investments and potential acquisitions in the real estate sector[138]. - The group plans to actively allocate financial resources to identify and invest in financial instruments with favorable risk-adjusted return potential[187]. - The company is closely monitoring external conditions to adapt its strategies flexibly in response to market changes[187]. - The company is involved in a real estate investment fund, with a capital commitment of HKD 39 million, targeting properties in Tseung Kwan O[155]. - The overall real estate market in Hong Kong has stagnated, with low transaction volumes due to high interest rates and economic slowdown since 2023[155]. Board Diversity and Composition - The company plans to appoint at least one female director by December 31, 2024, to enhance board diversity[110]. - As of September 30, 2024, the employee gender distribution is 64.3% male and 35.7% female[111]. - The company emphasizes the importance of board diversity as a competitive advantage and will actively seek suitable candidates[110]. - The nomination committee will monitor the implementation of the board diversity policy and propose amendments as necessary[110].
博富临置业(00225) - 2024 - 年度财报