MIRAMAR HOTEL(HK:00071)2022-04-26 09:11Financial Performance - The group's total revenue for the fiscal year ended December 31, 2021, was HKD 1,247 million, a decrease of 5.1% compared to HKD 1,315 million in 2020[9]. - Shareholders' profit attributable to the company was HKD 330 million, an increase of 9.3% from HKD 302 million in the previous year[19]. - Basic earnings per share were HKD 0.61, down 7.6% from HKD 0.66 in 2020[15]. - The hotel and serviced apartment business recorded revenue of HKD 286 million, an increase of 41.8% compared to HKD 202 million in 2020[26]. - The EBITDA for the hotel and serviced apartment business was HKD 46 million, recovering from a loss of HKD 53 million in the previous year[26]. - Rental income from the leasing business decreased to HKD 800 million, down 0.6% year-on-year[30]. - The tourism business revenue fell to HKD 13.5 million, a decline of 92.2% from HKD 173.7 million in the previous year[40]. - Total operating costs decreased to HKD 163.3 million from HKD 165.8 million in the previous year[42]. - The group maintained a strong liquidity position with net cash of approximately HKD 5.2 billion as of December 31, 2021[42]. - The group has zero bank loans as of December 31, 2021, compared to HKD 2.99 million in the previous year[42]. Business Development and Strategy - The group is actively seeking investment and business development opportunities despite the ongoing challenges posed by the pandemic[23]. - The group remains optimistic about Hong Kong's resilience and flexibility, anticipating a swift recovery once the pandemic is under control[23]. - The group achieved approximately 95% of its total business revenue from operations in Hong Kong as of December 31, 2021[54]. - The group continues to implement targeted relief measures for tenants affected by the pandemic[32]. - The group provided rental assistance and promotional support to tenants, particularly in the retail and restaurant sectors, during the ongoing pandemic[144]. Environmental, Social, and Governance (ESG) Initiatives - The group actively participates in environmental, social, and governance (ESG) activities, aiming to provide sustainable growth for stakeholders and communities[52]. - The group has been recognized for its sustainability efforts, receiving the "ESG Care Prize" from SocietyNext Foundation in 2021[44]. - The group’s environmental, social, and governance report adheres to the guidelines set by the Hong Kong Stock Exchange, ensuring transparency and accountability[54]. - The group emphasizes risk management and internal control systems, integrating ESG risk assessments into its overall risk management framework[53]. - A total of 17 significant ESG issues were identified, guiding the group's business development and operational strategies[56]. - The group has established a green management team and an energy management team to enhance environmental performance and operational efficiency[96]. - The group has committed to addressing climate change and has integrated environmental considerations into its decision-making processes[95]. - The group has implemented a customer satisfaction survey to gather feedback and improve service quality[57]. - The company has established a comprehensive recycling program for various waste types, including paper, plastic bottles, and electronic waste[112]. Employee and Workplace Practices - The group has a total of 1,105 employees, with 642 males and 463 females[120]. - Employee turnover rate is 25.7%, with a higher rate of 30.5% for females[121]. - The overall vaccination rate among employees reached 88% in 2021 due to the company's proactive vaccination promotion plan[124]. - The training participation rate for employees was 48% as of December 31, 2021, with a total of 11,699 training sessions conducted[126]. - Average training hours per employee were 6.97 hours, with middle managers receiving an average of 7.42 hours[126]. - The company has been awarded the title of "Talent Development Enterprise" annually since 2011 for its commitment to employee training and development[128]. - The company provides special paid leave and bonuses for employees who receive vaccinations[124]. - The company has established various communication channels to encourage open dialogue among employees, including a "Dialogue with the CEO" initiative[130]. - The company supports work-life balance by offering recreational facilities and organizing interactive workshops for employees[129]. Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules for the year ending December 31, 2021[191]. - The board consists of 13 members, including 5 executive directors, 2 non-executive directors, and 6 independent non-executive directors[192]. - The company is committed to maintaining high standards of corporate governance and has reviewed its policies and practices accordingly[196]. - The independent non-executive directors have confirmed their independence and are deemed to provide valuable experience and stability to the board[194]. - The company emphasizes the training and continuous professional development of its directors and senior management[196]. Community Engagement and Support - The group donated a total of 492 kilograms of surplus food in 2021, continuing its partnership with local charities to support those in need[153]. - The group provided venue sponsorship for charity events, including a Christmas cookie sale to support local charities[149]. - The group organized a CPR and AED training course for employees, enhancing their emergency response skills[149]. - The group launched electronic charity vouchers, converting their value into donations for UNICEF based on member points redeemed[150]. - The group has been actively involved in food donation activities, contributing to a more sustainable food system in the community[154].