Property Development and Investment - The Group's property development and investment projects, including Guorui Square Block B in the PRC and Juxon House in London, significantly contributed to its growth during the year[11]. - The Group aims to enhance its income base through stable rental incomes generated from properties acquired in recent years[15]. - Future investments will focus on property management and services in core cities globally, leveraging strengths in asset management and community operation[16]. - The Group plans to develop an integrated ecosystem encompassing "intelligent real estate and digital healthcare," targeting family doctors and community healthcare services[16]. - The management team is committed to maintaining a prudent approach in capturing investment opportunities in international markets such as the USA and Europe[15]. - The Group's strategy includes the potential divestment of investments that yield decent returns[15]. - The business portfolio will continue to be optimized and rationalized to support future development and growth[18]. - The Group's focus remains on executing existing projects to enhance operational performance and facilitate development[15]. - The Group's property management services in the PRC have been a significant contributor to its overall performance[12]. - As of December 31, 2024, AOCEAN managed 18 major residential and commercial property projects located in the PRC[23]. - The Santa Monica project has a total site area of approximately 40,615 square feet, with 91% of the commercial area and 97% of the residential area leased out during the year[29]. - The Culver City project allows for the development of 139 residential units, with construction having started in September 2021[30]. - Juxon House, located in London, contributed approximately £5.8 million in rental income for the year[36]. - The Group holds all units in Guorui Square Block B, with a gross floor area of approximately 68,685 square meters for office use[37]. - The property management segment operates primarily in the PRC, while the property development and investment segment operates in the PRC, USA, and UK[22]. - The Group plans to optimize and rationalize its business portfolio by 2025 to drive future growth[20]. - The Group aims to diversify its property development operations in the USA through strategic projects like Culver City[31]. Financial Performance - The Group generated revenue of approximately HK$310,017,000 for the year ended 31 December 2024, a decrease of 12.1% compared to HK$352,640,000 for the year ended 31 December 2023[41]. - The Group recorded a loss of approximately HK$919,344,000 for the year, significantly higher than the loss of approximately HK$129,307,000 in the previous year, primarily due to a fair value loss of investment properties of approximately HK$618,718,000[41][44]. - Total assets decreased to approximately HK$5,423,471,000 as of 31 December 2024, down from HK$6,412,623,000 as of 31 December 2023[40]. - The gearing ratio increased to 110.7% as of 31 December 2024, compared to 74.5% as of 31 December 2023, mainly due to a decrease in net assets[43]. - The outstanding balance of bank and other borrowings was approximately HK$2,605,486,000 as of 31 December 2024, a slight decrease from HK$2,650,828,000 as of 31 December 2023[42]. - Available cash and bank balances decreased to approximately HK$193,151,000 as of 31 December 2024, down from HK$305,556,000 as of 31 December 2023[43]. - The total remuneration for employees increased to approximately HK$86,742,000 for the year, compared to approximately HK$73,376,000 in the previous year, reflecting a growth of 18.5%[47]. - Investment properties and properties held for sale amounted to approximately HK$4,603,293,000 as of 31 December 2024, down from approximately HK$5,483,381,000 as of 31 December 2023[55]. - Certain trade and lease receivables of approximately HK$61,324,000 were pledged to secure bank and other loans as of 31 December 2024, an increase from approximately HK$48,031,000 in the previous year[56]. - The Board resolved not to declare any final dividend for the year, consistent with the previous year[50]. - As of December 31, 2024, the Group had contracted but not provided for commitments for construction in progress for an investment property amounting to approximately HK$59,439,000, down from approximately HK$70,301,000 as of December 31, 2023[58]. - The Group had no material contingent liabilities as of December 31, 2024, consistent with the previous year[60]. - The total number of outstanding share options under the Share Option Scheme is 30,000,000, representing approximately 0.9% of the total number of issued shares of the Company[63]. - No significant investments, acquisitions, or disposals of subsidiaries, associates, and joint ventures were made during the year[61]. - The Group plans to continue focusing on property development and investment, as well as relevant asset management services, to create value for shareholders[71]. Environmental, Social, and Governance (ESG) Initiatives - The Group's ESG report emphasizes the importance of materiality, quantitative analysis, balance, and consistency in its reporting practices[83]. - The Board is responsible for overseeing ESG issues and evaluates the Group's performance against ESG-related targets at least annually[90]. - The Group has established a CSR Policy to integrate corporate social responsibility into its business strategy, focusing on marketplace, workplace, community, and environment[92]. - Environmental targets were set for the first time in 2021, covering emissions reduction, waste management, and resource conservation[92]. - The ESG Working Group, consisting of senior management, is tasked with implementing ESG measures and reporting to the Board at least annually[91]. - The Group aims to achieve carbon neutrality in response to the PRC government's goals and stakeholder expectations[92]. - The report includes a complete index for easy reference, ensuring transparency and accessibility of information[83]. - The Group's approach to ESG reporting has remained consistent with the previous year, with specific changes noted regarding GHG emissions and energy calculations[85]. - The Group has established an Environmental, Social, and Governance (ESG) Working Group that reports to the Board at least annually, responsible for implementing ESG measures and analyzing related data[94]. - The Group's Corporate Social Responsibility (CSR) policy aims to integrate CSR into business strategies, focusing on sustainable value creation in economic, social, and environmental aspects[95]. - The Group set environmental targets in 2021 to align with China's "carbon neutrality" goal, focusing on emissions reduction, waste management, and resource conservation[95]. - The Group engages with stakeholders continuously to understand their views and collect feedback, ensuring sustainable growth and long-term value[100]. - The materiality assessment identifies key ESG issues such as "quality of working environment," "environmental protection," and "community contributions," which are reviewed annually[109]. - The Group's material ESG issues will remain unchanged for 2024, reflecting stable business development and industry standards[114]. - The Group conducts annual reviews of the materiality assessment results, which are approved by the Board and the ESG Working Group[113]. - Key ESG issues influencing stakeholder assessments include emissions control, waste management, energy conservation, and employee remuneration[115]. - The Group emphasizes high-quality services, rigorous supply chain management, and ethical practices as part of its sustainability commitment[97]. - The Group's sustainability strategy is rooted in a people-oriented approach, aiming to enhance environmental sustainability and support disadvantaged community groups[98]. Waste and Resource Management - The Group generated approximately 5.04 kg of non-hazardous waste per 1,000 m² in 2024, down from 5.40 kg per 1,000 m² in 2023[133]. - The Group aims to reduce non-hazardous waste intensity by at least 2% by 2026 compared to the 2020 level of approximately 14.69 kg/1,000 m²[133]. - The total chargeable area for property management increased from approximately 1,539,316.41 m² in 2023 to 1,668,350.55 m² in 2024[127]. - The number of households managed increased from approximately 14,934 units in 2023 to 16,089 units in 2024[127]. - The Group plans to continue monitoring GHG emissions and set new targets for reduction activities[128]. - The Group set a target to reduce non-hazardous waste density by at least 2% from the 2020 level of approximately 14.69 kg/1,000 m² by 2026, achieving a current density of approximately 5.04 kg/1,000 m², down from 5.40 kg/1,000 m² in 2023[134]. - The total amount of non-hazardous waste for 2024 is reported at 8.41 tonnes, a 1% increase from 8.32 tonnes in 2023[136]. - The average non-hazardous waste per household decreased by 6% to 0.52 kg/household in 2024 from 0.56 kg/household in 2023[136]. - The average non-hazardous waste intensity by area decreased by 7% to 5.04 kg/1,000 m² in 2024 from 5.40 kg/1,000 m² in 2023[136]. Energy and Water Management - The Group consumed approximately 17.43 MWh of energy per 1,000 m² chargeable area in the current year, representing a decrease of approximately 5% from 18.44 MWh/1,000 m² in 2023[144]. - The Group encourages employees to classify waste and promotes a "paperless" office initiative to enhance waste reduction awareness[137]. - The Group implements environmental protection policies including green management and the use of environmentally friendly equipment to reduce emissions[139]. - The Group aims to promote waste reduction practices among external stakeholders, encouraging the use of eco-friendly bags and recycling[138]. - The Group has established plans for energy and water saving, including maintaining air conditioning temperatures at 26ºC in summer and 22ºC in winter[141]. - The Group plans to install energy-efficient systems and promote environmental awareness training for employees[143]. - Direct energy consumption decreased significantly, with petrol down 57% to 10.84 MWh and diesel down 67% to 5.31 MWh[146]. - Total energy consumption decreased by 11% to 691.17 MWh, while indirect energy consumption increased by 3% to 28,384.41 MWh[146]. - The average energy consumption per household decreased by 5% to 1.81 MWh[146]. - Water consumption increased by 2% to 218,004 m³, while water consumption intensity per area decreased by 6% to 130.67 m³/1,000 m²[155]. - The Group aims to reduce water consumption intensity by at least 2% by 2026 compared to 2020 levels[152]. - The Group has implemented various water conservation measures, including rainwater recycling and automatic faucets[151]. - The introduction of an IoT system for lighting control aims to improve energy efficiency[149]. - The Group has set a target to organize energy consumption control activities annually to raise employee awareness[148]. Employee and Workplace Management - The Group maintains a workplace culture of equality and diversity, ensuring employee well-being and safety[175]. - There were no reported non-compliance incidents with relevant labor laws in the operating locations during the year[176]. - The Group offers competitive remuneration and welfare packages to attract and retain talent, including various benefits such as social insurance and housing provident fund contributions[181]. - As of December 31, 2024, the Group had a total of 428 employees, up from 305 in 2023, indicating a significant increase in workforce[182]. - The employee turnover rate for the year was approximately 52.80%, a substantial rise from 15.08% in 2023[182]. - The average training hours per employee were approximately 32.07 hours in 2024, slightly down from 36.00 hours in 2023, with 100% of staff receiving training[200]. - The number of days lost due to work injuries increased to 180 days in 2024, compared to 98 days in 2023[193]. - The Group's employee distribution by gender in 2024 was 108 males and 287 females, reflecting a gender ratio of approximately 27% male to 73% female[184]. - The Group's employee distribution by age shows a notable increase in employees aged 21-30, from 66 in 2023 to 90 in 2024[189]. - The Group's senior management category saw an increase from 42 employees in 2023 to 80 in 2024, indicating a focus on strengthening leadership[186]. - The Group has implemented health and safety measures, achieving OHSAS18001:2007 certification, to enhance workplace safety[192]. - The Group did not report any work-related fatalities over the past three years, maintaining a focus on employee safety[193]. - The Group's commitment to a diversified workplace includes regular performance assessments to inform salary adjustments and performance pay[199].
国锐生活(00108) - 2024 - 年度财报