Financial Performance - The company reported a net loss attributable to equity holders of approximately HKD 26 million for the year ended December 31, 2024, compared to a net loss of HKD 1 million for the year ended December 31, 2023[21]. - The company’s main business is investment holding, with detailed performance analysis by operating segment available in the consolidated financial statements[171]. - The group reported no dividend recommendation for the year ending December 31, 2024, consistent with the previous year[173]. - As of December 31, 2024, the company's distributable reserves amount to HKD 911,523,000, slightly up from HKD 910,209,000 in 2023[190]. Market Conditions - The non-residential property market continued to face challenges, with transaction volumes for industrial units, offices, and retail spaces decreasing by 13%, 10%, and 9% year-on-year, respectively[22]. - The overall economic outlook remains challenging, with the Hong Kong government facing significant fiscal deficits for the fiscal year 2024-2025 due to a sluggish asset market and global economic slowdown[26]. - The commercial property market is showing signs of recovery, with monthly transaction volumes increasing towards the end of 2024, driven by user demand and significant price corrections of 28% to 44% in industrial and commercial properties[31]. Business Operations - Despite the difficult market conditions, the company's property leasing business showed resilience, with revenue and profit (excluding fair value losses on investment properties) recording an increase[23]. - The company's lending business remained profitable in 2024, although the overall credit scale decreased due to new loan amounts not offsetting repayments[25]. - The company aims to leverage synergies with the Midland Group to boost sales and enhance collaboration with its mainland commercial property sector[30]. - The company is committed to rejuvenating its sales team to improve productivity as the market recovers[31]. Corporate Governance - The board of directors consists of seven members, including four executive directors and three independent non-executive directors[48]. - The company emphasizes the importance of corporate governance to enhance shareholder value and protect shareholder interests[43]. - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules throughout the fiscal year ending December 31, 2024[44]. - The chairman and CEO roles are distinctly separated to ensure effective governance[50]. - The board held five meetings during the fiscal year to discuss and approve significant matters, including interim and annual results[52]. Risk Management and Compliance - The audit committee held two meetings during the year to review interim and annual reports, assess the independence of external auditors, and evaluate the effectiveness of internal controls and risk management systems[62]. - The company has established arrangements for stakeholders to raise concerns regarding financial reporting and internal controls, along with a whistleblowing policy[62]. - The risk management and internal control systems have been reviewed for the year ending December 31, 2024, with the board confident in their effectiveness and alignment with the group's environmental, social, and governance performance[80]. Environmental, Social, and Governance (ESG) Initiatives - The company integrates environmental, social, and governance (ESG) considerations into its daily operations, demonstrating its commitment to sustainable business practices[109]. - The board of directors is responsible for overseeing the management of environmental, social, and governance (ESG) matters, ensuring long-term sustainability goals are met[112]. - The company has established sustainable development goals to ensure responsible business operations while generating substantial returns for shareholders[111]. - The company has implemented strict anti-bribery and anti-corruption policies, with training provided to employees on compliance and ethical standards[116]. Employee Relations and Development - The company emphasizes employee well-being and has implemented the "Happy Workplace" program to enhance team belongingness and promote a positive work environment[100]. - The company promotes a diverse and inclusive workplace, strictly enforcing anti-discrimination policies[132]. - The company emphasizes employee training and development through specialized training programs tailored to different job roles and levels[134]. - The employee turnover rate improved from 37% in 2023 to 31% in 2024, indicating a decrease of about 16.2%[154]. Community Engagement - The company has been recognized for 18 consecutive years with the "Caring Company" award by the Hong Kong Council of Social Service, highlighting its commitment to social responsibility[96]. - The company has actively participated in various community service activities, including a Mid-Autumn Festival event in collaboration with the Kowloon City District, providing care packages to underprivileged families[95]. - The company donated approximately HKD 85,600 and provided about 45 hours of volunteer service to support local community development in the reporting year[152]. Technology and Innovation - The company utilizes innovative technology and digital applications, such as VR property viewings, to enhance customer experience[128]. - The company developed a digital learning management system to enhance employee training flexibility, featuring bite-sized online courses and live training capabilities[137].
鋑联控股(00459) - 2024 - 年度财报