Economic Environment and Market Conditions - The hotel business was adversely affected by global economic instability and geopolitical conflicts, particularly in the PRC, leading to a cautious consumer spending environment[13] - The economic slowdown in sectors like property development has added uncertainties to the PRC's economic development[13] - The overall market sentiment in the PRC hotel industry has declined significantly, impacting consumer spending and occupancy rates[24] - The Group's performance remains steady despite the challenging market conditions[13] Business Strategy and Development - The Group maintained a proactive approach to enhance core competitiveness and adjusted business strategies to manage challenges in the tourism industry[13] - The Group diversified its business into the healthcare and beauty segment, achieving positive initial results[13] - The Group plans to further develop its healthcare and beauty business, focusing on bioregenerative, collagen, and anti-aging skincare products[16] - The Group aims to collaborate with key players in the healthcare and beauty industry for business diversification[16] - The Group is exploring ways to broaden and stabilize its revenue base, particularly through accommodation consultation services, which are more resilient to pandemic impacts[47] Accommodation Operations - The Group currently operates five leased-and-operated accommodation projects[20] - The accommodation operation revenue for the year was approximately HK$35,821,000, representing a decrease of approximately 38.50% compared to the previous financial year due to reduced occupancy rates and contract expirations[24] - The occupancy rate for the accommodation business decreased to 50.82% from 74.38% in the previous year, representing a decline of approximately 23.56%[63] - The average room rate (ARR) decreased from RMB 312.2 to RMB 253.5, a reduction of approximately 18.75%[63] - The Group is implementing flexible sales and marketing plans, including cooperation agreements with new tourism intermediaries and updating existing sales strategies to improve performance[26] - The Group continues to adopt operational improvement schemes, such as enhancing accommodation facilities and implementing staff performance programs to boost revenue[26] Financial Performance - The revenue for the Year was approximately HK$3,785,000, representing a decrease of approximately 59.79% compared to the last financial year[47] - The Group's total comprehensive loss for the Year was approximately HK$37,596,000, a decrease of approximately 39.23% compared to the previous year[57] - The Group's revenue from the accommodation business segment decreased by approximately 41.46% from HK$67,661,000 to HK$39,606,000[57] - Total operating costs decreased by approximately HK$8,347,000 or about 13.16% to approximately HK$55,078,000 for the year ended 31 December 2024 compared to HK$63,425,000 in 2023[68] - Employee benefit expenses decreased by approximately HK$1,779,000 or about 10.04% as a result of effective employee management programs[70] Corporate Governance and Management - The Company has complied with the applicable Corporate Governance Code throughout the Year, with certain specified deviations explained[112] - The Board is responsible for formulating strategies, monitoring performance, and managing risks, supported by three committees: audit, remuneration, and nomination[113] - The Company adopted the Model Code for Securities Transactions, confirming compliance by all Directors and relevant employees throughout the Year[114] - The Board has mechanisms in place to ensure independent views and input are available, which are reviewed annually for effectiveness[137] - The Company ensures that all Directors have the required character, integrity, and expertise to fulfill their roles effectively[140] Diversity and Inclusion - The Company aims to achieve gender parity in its workforce and is actively considering gender diversity during recruitment[160] - The Board has adopted a Board Diversity Policy to enhance diversity in its composition, considering factors such as gender, age, and professional experience[149] - The current Board composition has achieved the objectives of the Board Diversity Policy[173] Environmental and Social Responsibility - The Group emphasizes the importance of environmental protection and respects the legitimate rights of stakeholders, including employees, customers, suppliers, and community members[96] - The Group is committed to corporate social responsibility and will publish specific reports in compliance with the Hong Kong Stock Exchange listing rules[96] Future Outlook - Despite economic challenges, the Group expects the Chengdu Branch to generate sustainable and stable income in the future[31] - The Group plans to raise up to approximately HK$46,300,000 through a rights issue, with approximately HK$24,000,000 allocated for developing the healthcare and beauty business[54] - The Group anticipates that international projects, such as the opening of Legoland theme park in Shenzhen, will increase guest numbers in the Huizhou region, boosting long-term performance[37]
朸浚国际(01355) - 2024 - 年度财报