海港企业(00051) - 2021 - 年度财报

Financial Performance - The group's consolidated revenue increased by 35% to HKD 4.484 billion, compared to HKD 3.313 billion in 2020[13]. - Operating profit rose by 15% to HKD 588 million, up from HKD 510 million in the previous year[13]. - The group recorded a net loss of HKD 24 million, a significant improvement from a net loss of HKD 11.19 billion in 2020[13]. - The group's basic net profit decreased to HKD 40 million, down from HKD 413 million in 2020, with hotel losses reduced by 14% to HKD 287 million[23]. - The company reported a net profit of HKD 32 million for the year, a significant recovery from a loss of HKD 1,085 million in 2020[169]. - Total comprehensive income for the year was HKD 254 million, compared to a loss of HKD 1,382 million in the prior year[169]. - The company incurred a loss of HKD 67 million related to hotel property impairment, a decrease from a loss of HKD 1,051 million in the previous year[168]. - The company reported a tax expense of HKD 323 million, compared to a tax benefit of HKD 175 million in the previous year[168]. Hotel Operations - The hotel revenue increased to HKD 580 million, compared to HKD 381 million in 2020[13]. - Revenue for the hotel segment increased by 52%, while operating losses narrowed, indicating some recovery despite ongoing challenges in the local market[19]. - The Hong Kong hotels managed to turn a profit, with the Hong Kong Meili Hotel achieving a positive operating profit[12]. - The Suzhou Niccolo Hotel opened in April 2021 and has recorded monthly operating profits since its opening[12]. - The group is in the process of selling the loss-making Changzhou Marco Polo Hotel, which has since closed[12]. Development and Investment Properties - Development property revenue increased to HKD 3.555 billion in 2021, up from HKD 2.534 billion in 2020, with operating profit rising to HKD 555 million from HKD 448 million, primarily due to sales recognition from the Suzhou International Financial Center[14]. - Investment property revenue decreased to HKD 193 million in 2021, down from HKD 238 million in 2020, with operating profit falling to HKD 161 million from HKD 207 million[14]. - The total value of hotel properties owned by the group in Hong Kong and mainland China was HKD 7.17 billion as of December 31, 2021[158]. - The carrying value of completed investment properties as of December 31, 2021, was HKD 5,138 million, down from HKD 5,148 million in 2020[198]. Financial Position and Cash Flow - The group's total assets amounted to HKD 20.526 billion, with a net asset value per share of HKD 22.03, reflecting a 1% increase from HKD 21.84 in 2020[17]. - The total equity of the group was HKD 15.937 billion, with a debt-to-equity ratio of 2.3%, down from 9.5% in the previous year, indicating improved financial stability[17]. - Net cash inflow reached HKD 1.615 billion, mainly from the Suzhou International Financial Center[14]. - The net cash inflow from operating activities was HKD 1.13 billion, significantly up from HKD 0.17 billion in 2020, primarily from the sale of properties[39]. - The company reported a net cash decrease of HKD 242 million in 2021 compared to HKD 681 million in 2020[173]. Corporate Governance - The board of directors consists of eight members, with five being independent non-executive directors, ensuring a strong independent element in decision-making[58]. - The company has adopted a formal Nomination Policy to ensure a balanced skill set, experience, and diversity in the board composition[61]. - The audit committee consists of three independent non-executive directors, all of whom have sufficient experience in reviewing audited financial statements[66]. - The company emphasizes the importance of character, integrity, and relevant skills in the nomination and evaluation of potential directors[61]. - The company has established an effective board of directors, ensuring decisions align with the company's interests and monitoring changes in regulations and accounting standards[62]. Risk Management and Compliance - The company is committed to risk management and internal control systems, reviewing these processes with the support of the risk management committee[71]. - The board is responsible for overseeing environmental, social, and governance risks, as well as climate-related risks and opportunities[62]. - The company actively monitors regulatory changes to mitigate legal and compliance risks, ensuring adherence to local laws and regulations[148]. - The company has mechanisms in place for employees to report concerns regarding financial reporting and internal controls confidentially[74]. Sustainability and Community Engagement - The company maintains a sustainable development policy aimed at minimizing environmental and social impacts while creating value for the community[43]. - The company aims to reduce greenhouse gas emissions by 30% by 2030, using 2014 as the baseline year[45]. - The company actively participates in community activities focused on education, environmental protection, and youth development[50]. - The company has not reported any violations related to environmental issues during the reporting year[46]. Shareholder Communication - The company emphasizes constructive and transparent communication with shareholders to create higher value[95]. - The company has adopted a Shareholder Communication Policy to ensure timely and fair disclosure of key information, including financial performance and strategic goals[95]. - The company will hold its annual general meeting on May 4, 2022, via a hybrid format due to ongoing COVID-19 concerns, allowing shareholders to participate electronically[97].