Workflow
晋安实业(02292) - 2024 - 年度财报
THING ON ENTTHING ON ENT(HK:02292)2025-03-21 08:40

Financial Performance - The company recorded rental income of approximately HKD 32.4 million for the year ending December 31, 2024, an increase from HKD 31.1 million in 2023, representing a growth of about 4.2%[7] - The company's total revenue for the fiscal year was approximately HKD 37.3 million, reflecting a 5.52% increase from HKD 35.4 million in 2023[36] - The gross profit for the fiscal year was approximately HKD 31.4 million, up from HKD 30.0 million in 2023, indicating a growth of 4.77%[37] - For the fiscal year ending December 31, 2024, the company reported a loss of approximately HKD 96.7 million, compared to a loss of HKD 62.6 million in 2023, primarily due to a fair value loss of investment properties amounting to HKD 116.5 million[30] - The company's distributable reserves as of December 31, 2024, amounted to approximately HKD 372,359,000, compared to HKD 369,353,000 in 2023, reflecting a slight increase of 0.54%[160] Revenue Sources - Office properties contributed approximately HKD 19.1 million or 58.9% of total rental income, while retail properties accounted for approximately HKD 13.3 million or 41.1%[7] - Property management fee income was approximately HKD 4.9 million, up from HKD 4.3 million in 2023, representing an increase of about 13.9%[7] - The property management fee income accounted for approximately 13.2% of total revenue for the year, compared to 12.2% in 2023[7] - The company plans to diversify its revenue sources by exploring opportunities in the financial services and technology sectors[11] Investment Strategy - The company aims to acquire high-quality assets to enhance long-term value and rental income amidst a challenging local property market[8] - The company is exploring new investment opportunities to enhance its portfolio and drive future growth[21] - The company remains vigilant in monitoring market trends and will make strategic adjustments to its asset investment portfolio to optimize returns[11] - The company has no significant capital commitments or major investment plans as of December 31, 2024, indicating a cautious approach to future investments[46] Corporate Governance - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced composition[63] - The company has adopted a board diversity policy, considering various factors such as gender, age, and professional experience to achieve diversity[69] - The company has maintained good corporate governance standards to ensure the integrity, transparency, and quality of information disclosure[58] - The board acknowledges its responsibility for risk management and internal control systems, ensuring they are effective as of December 31, 2024[134] Risk Management - The company has adopted a risk management policy aimed at ensuring stable business growth and proactively addressing business-related risks[135] - The risk assessment process involves discussions with senior management to identify and evaluate major risk factors based on environmental analysis and external benchmarks[136] - The company aims to ensure all significant risks are identified, assessed, quantified, and managed effectively to maintain financial stability and business growth[137] - The board regularly reviews the necessity of hiring independent professional service providers to audit the risk management and internal control systems[139] Employee Relations - As of December 31, 2024, the group had 16 full-time employees, a decrease from 17 in 2023, with employee benefit expenses amounting to approximately HKD 8.3 million, down from HKD 9.0 million in 2023[55] - The company maintained a good relationship with employees, customers, and suppliers, focusing on providing quality service and consumer experience[152] - The gender ratio among employees, including senior management, is approximately 1:2, indicating achieved gender diversity[72] Shareholder Communication - The company is committed to maintaining effective communication with shareholders and potential investors to enhance long-term value[117] - The board adopted a shareholder communication policy on March 8, 2018, ensuring timely and equal access to company information for shareholders[117] - Shareholders are encouraged to participate in the annual general meeting, with arrangements made to facilitate their involvement[126] - The company emphasizes the importance of protecting shareholder privacy and will not disclose shareholder information without consent[129] Audit and Compliance - The audit committee is responsible for monitoring the company's internal control procedures and compliance with legal and regulatory requirements[100] - The company paid HKD 630,000 for audit services and HKD 200,000 for non-audit services, totaling HKD 830,000 for the year ending December 31, 2024[106] - The company confirmed compliance with the standard code of conduct for securities trading by all directors for the year ending December 31, 2024[191] - The company has complied with the disclosure requirements under the Listing Rules regarding related party transactions[177] Share Options and Financing - The company has adopted a share option scheme to incentivize selected participants, with a total of 72,000,000 shares available for issuance, accounting for 10% of the issued shares as of the report date[195] - The company has secured a loan financing of up to HKD 1,000,000,000 from its controlling shareholder, with terms including an unsecured revolving loan of up to HKD 400,000,000 at a rate of HIBOR plus 0.4% and another of up to HKD 600,000,000 at HIBOR plus 2.0%[179] - The loan financing has been extended to December 1, 2026, under the ninth extension agreement, while other key terms remain unchanged[180] Community Engagement - The company has been recognized for its contributions to the community, with board members receiving multiple awards for their service[19] - The company is committed to environmental protection through measures such as energy conservation and recycling initiatives[150] - There were no charitable donations made by the company for the year ending December 31, 2024, mirroring the situation in 2023[156]