REGAL INT'L(HK:00078)2022-04-27 10:20Financial Performance - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[4]. - The company reported a significant increase in operating loss, which was HKD 309.1 million for 2021, compared to HKD 357.0 million in 2020[172]. - The net loss attributable to equity holders of the parent company was HKD 494.4 million, a reduction from a loss of HKD 885.9 million in the previous year, indicating a 44.1% improvement[172]. - The total comprehensive loss for the year was HKD 790.6 million, compared to HKD 36.0 million in 2020, showing a substantial increase in losses[173]. - Gross profit for the same period was HKD 235.5 million, up from HKD 85.8 million, reflecting a significant improvement in profitability[172]. - The company's total liabilities decreased significantly from HKD 10,500.9 million in 2020 to HKD 2,587.8 million in 2021, indicating improved financial stability[174]. - The company's total net assets were HKD 14,131.3 million as of December 31, 2021, down from HKD 15,156.1 million in 2020, indicating a decrease of 6.8%[190]. Market Expansion and Growth Strategy - User data showed an increase in active users, reaching Z million, which is a growth of A% year-over-year[4]. - Future outlook indicates a strong commitment to market expansion, particularly in the Asia-Pacific region, aiming for a 15% growth in market share over the next fiscal year[10]. - Market expansion plans include entering F new markets, with an estimated investment of G million to establish a presence[4]. - New product launches are anticipated to contribute an additional D million in revenue, with a focus on enhancing customer experience[4]. - The company is considering strategic acquisitions to enhance its portfolio, targeting companies with complementary services valued at H million[4]. Corporate Governance and Sustainability - The board emphasized the importance of corporate governance and sustainability initiatives, committing to reduce carbon emissions by K% by 2025[4]. - The board includes independent directors with extensive experience in finance and management, ensuring robust governance and oversight[10]. - The company has established indemnity provisions for its directors and has purchased directors' liability insurance[126]. - The company’s independent non-executive directors confirmed their independence according to listing rules, ensuring adherence to governance standards[155]. - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules, with no separation of roles between the Chairman and CEO[153]. Operational Efficiency and Technology Development - The company is investing in new technology development, allocating E million towards R&D initiatives aimed at improving operational efficiency[4]. - Recent strategic initiatives have been implemented to improve operational efficiency, targeting a 5% reduction in costs by the end of the fiscal year[9]. - The company is actively involved in new product and technology development, focusing on enhancing operational efficiency and customer experience[9]. Financial Position and Cash Flow - The group has a cash balance of HKD 2,233.7 million as of December 31, 2021, down from HKD 2,748.8 million in 2020[112]. - The net cash flow from operating activities for the year was HKD 174.3 million, a significant decrease from HKD 1,089.7 million in 2020, representing a decline of approximately 84%[180]. - The total cash and cash equivalents at the end of the year were HKD 1,871.7 million, down from HKD 2,337.8 million in 2020, a decrease of about 20%[180]. - The company reported a total distributable reserve of HKD 4,930,500,000 as of December 31, 2021, alongside a share premium account of HKD 404,700,000[150]. Real Estate and Property Development - The group completed the development of the second hotel at Hong Kong International Airport, with 1,208 rooms, which began trial operations in December 2021[15]. - The group plans to renovate a historic building in London into a boutique city hotel, with interior design work currently underway[15]. - The group is conducting a commercial/residential redevelopment project in Sham Shui Po, with legal proceedings ongoing for property ownership consolidation[22]. - The group anticipates that the fifth wave of the pandemic will negatively impact Hong Kong's economy at least through the first half of 2022, delaying plans for the gradual resumption of international travel and reopening of mainland borders[24]. Shareholder and Ownership Structure - The company holds 622,855,261 shares of ordinary stock, representing approximately 69.33% of the total issued shares as of December 31, 2021[128]. - The company has a significant interest in Paliburg Holdings Limited, with 740,860,803 shares, accounting for 74.55% of the issued shares[129]. - Major shareholders include YSL International Holdings Limited, Grand Modern Investments Limited, and Century City, each holding approximately 69.30% of the issued ordinary shares as of December 31, 2021[137]. Risk Management and Compliance - The company conducted a review of its risk management and internal control systems, confirming their effectiveness in managing business risks[167]. - The board of directors is responsible for overseeing the effectiveness of the risk management and internal control systems[167]. - The company has established policies to ensure timely and fair disclosure of inside information in accordance with applicable laws and regulations[168]. Future Outlook and Guidance - The company provided guidance for the next fiscal year, projecting revenue growth of B% and an expected EBITDA margin of C%[4]. - The company has outlined a performance guidance of a 10% increase in revenue for the upcoming quarter, driven by new project launches[9].