港通控股(00032) - 2021 - 年度财报

Financial Performance - The company reported a loss attributable to shareholders of HKD 492 million for the year ended December 31, 2021, compared to a profit of HKD 725.2 million in 2020, primarily due to a net loss in financial management operations of HKD 529.3 million[12]. - The earnings per share for the year was HKD 0.13, down from earnings of HKD 1.95 per share in 2020[12]. - Total revenue for the year was HKD 699.7 million, a decrease from HKD 760.5 million in 2020, primarily due to a decline in financial management business revenue[52]. - The financial management business incurred a net loss of HKD 529.3 million, significantly worsening from a profit of HKD 288.1 million in 2020[53]. - Revenue from the driving school operations increased by 13.3% to HKD 537.8 million, driven by higher demand for driving courses[55]. - The profit attributable to the company's share of the Hong Kong Western Tunnel increased by 10.3% to HKD 460.2 million, with toll revenue rising by 13.9% to HKD 1,697.4 million due to a 15.8% increase in traffic flow[55]. Dividends - A final dividend of HKD 0.24 per share has been proposed, bringing the total dividend for the year to HKD 0.42 per share, amounting to a total of HKD 156.5 million[13]. - The total dividend for the year was HKD 0.42 per share, amounting to approximately HKD 156.5 million, consistent with the previous year[183]. - The proposed final dividend is HKD 0.24 per share, totaling HKD 89,445,000, consistent with the previous year's dividend[186]. Economic Environment - The local GDP of Hong Kong rebounded by 6.4% in 2021, supported by the stabilization of local pandemic conditions and strong recovery in the Chinese economy[14]. - The unemployment rate in December 2021 dropped to 3.9%, with retail sales increasing by 6.1% year-on-year[14]. - The company anticipates that the global economy will face uncertainties due to the ongoing COVID-19 pandemic and geopolitical tensions, which may hinder stable recovery[14]. - The group anticipates continued severe impacts from COVID-19 in 2022, with economic pressures from new variants and global inflation affecting financial and investment markets[25]. Operations and Strategy - The driving school operations showed improvement with increased revenue due to a rise in the number of driving courses offered and higher unit fees[16]. - The company plans to continue effective marketing strategies and market segmentation to maintain its leading position in the driving training market[16]. - The operational leases for driving schools in Kwun Tong, Ap Lei Chau, and Siu Lek Yuen will expire in July 2023, August 2023, and February 2028, respectively, which may impact future operations[16]. - The company will closely monitor the pandemic's progress and take necessary actions to protect customers and employees, ensuring business continuity[16]. - Autotoll operates 52 automatic toll lanes across ten different toll roads and tunnels in Hong Kong, with a net increase in tagged users primarily from motorcycle tags despite challenges from COVID-19 and competition[17]. - The average daily traffic for the Western District Tunnel increased by 15.8% to 57,231 vehicles, while the average toll per vehicle decreased from HKD 82.3 to HKD 81.3, resulting in a market share increase to 23.4%[20]. Investment Portfolio - The group recorded a fair value decrease of HKD 1,472.8 million in its investment portfolio for 2021, compared to a fair value increase of HKD 1,216.9 million in 2020, due to significant price volatility in the new energy vehicle sector[24]. - The group has diversified its investment portfolio by increasing non-listed fund investments while reducing exposure to the Chinese real estate sector to mitigate risks associated with the debt crisis[24]. - The company recorded a net fair value loss of HKD 1,572.2 million on financial assets measured at fair value through other comprehensive income[54]. - The loss from fair value of equity securities was HKD 496 million, primarily due to losses from China Evergrande Group[53]. - The group maintains a cautious outlook on the performance of Hong Kong and overseas financial markets, expecting significant fluctuations in the value of its investment portfolio[24]. - The group’s investment strategy aims to enhance shareholder returns by diversifying investments across liquid listed equity securities, stable income-generating listed debt securities, and high-growth non-listed fund investments[61]. Risk Management and Governance - The company has established a risk management committee to oversee compliance with licensing conditions related to electronic payment tools[67]. - The company’s business strategy focuses on creating long-term value and sustainable returns for shareholders[66]. - The company is committed to enhancing risk monitoring and management mechanisms across its business segments[68]. - The company has maintained a commitment to good corporate governance principles, emphasizing effective board management and robust risk management systems[74]. - The board is responsible for ensuring compliance with the Corporate Governance Code and has conducted annual reviews of governance policies and practices[75]. - The company has a dedicated disclosure team to oversee and coordinate the handling of inside information, ensuring compliance with the Securities and Futures Ordinance[76]. - The board has reviewed the training and continuous professional development of directors, ensuring adherence to legal and regulatory compliance[75]. - The company has a strong focus on balancing the interests of various stakeholders while improving overall performance[74]. Environmental, Social, and Governance (ESG) Initiatives - The company has adopted a comprehensive Corporate Social Responsibility policy to ensure sustainable development and social responsibility[126]. - The company is accelerating its low-carbon transition in response to the government's climate action plan to achieve carbon neutrality by 2050, including the establishment of a dedicated team to identify climate impacts and solutions[128]. - New greenhouse gas emission reduction targets have been set as part of the company's roadmap for operational decarbonization, alongside commitments to energy saving, water conservation, and waste reduction[128]. - The company has conducted a materiality assessment to identify key ESG issues that significantly impact its business and stakeholders, prioritizing these for strategic planning and resource allocation[133]. - The company is committed to enhancing stakeholder awareness of environmental protection through sustainable practices in its offices and workplaces[135]. - The group aims to reduce its greenhouse gas emission intensity by 3% over the next five years, using 2021 as the baseline year[136]. - The group has implemented measures to monitor vehicle emissions and adhere to emission control measures[136]. - The group promotes environmental awareness among employees through various initiatives, including recycling and the use of eco-friendly stationery[139]. Employee Management - The employee turnover rate increased to 28% from 19.5% in 2020, primarily affecting frontline staff and technical personnel[37]. - The total number of employees decreased from 690 in 2020 to 662 in 2021, representing a reduction of approximately 4.06%[153]. - Employee turnover rate for 2021 was approximately 20.85%, with male turnover at 18.78% and female turnover at 26.74%[155]. - The company provided various employee benefits including medical insurance, retirement plans, and training subsidies to attract and retain talent[159]. - Approximately 73.11% of employees participated in training in 2021, with an average training duration of 6.52 hours per employee[163]. - The company emphasizes the importance of occupational health and safety, implementing measures to manage workplace hazards and ensure a safe working environment[161]. Supplier and Customer Relations - The company has maintained strong relationships with suppliers, ensuring timely services at favorable prices[31]. - The company collaborated with 96 local suppliers and 2 overseas suppliers, focusing on the automotive and parts, printing materials, and office equipment sectors[167]. - The company implemented supplier hiring practices for all suppliers in 2021, ensuring compliance with ethical and legal standards[167]. - In 2021, there were no significant claims or complaints from customers, and the costs arising from corrective actions were not substantial[168]. Compliance and Legal Matters - The company reported no significant violations of anti-corruption laws in 2021, including the Prevention of Bribery Ordinance[171]. - The company has established strict management requirements for protecting customer privacy and confidential information[168]. - The company has a policy in place to ensure compliance with health and safety, advertising, labeling, and privacy matters[168].