Financial Performance - The profit attributable to owners of Wong's International Holdings for the year ended December 31, 2021, was HK$89.5 million, compared to a loss of HK$761.7 million in the previous financial year[13]. - Earnings per share for the year was HK$0.19, compared to a loss per share of HK$1.59 for the last financial year[13]. - The Group's revenue for the year was HK$3,256.7 million, slightly up from HK$3,224.6 million in the previous year[13]. - Operating profit for the year was HK$120.3 million, a turnaround from an operating loss of HK$375.1 million in the last financial year[13]. - The profit after income tax for 2021 was HK$89 million, a significant recovery from a loss of HK$762 million in 2020[49]. - The operating profit margin improved to 3.7% in 2021 from a loss margin of 11.6% in 2020, reflecting a 15.3 percentage point increase[62]. - The net profit margin for 2021 was 2.7%, a recovery from a loss margin of 23.6% in 2020, representing a 26.3 percentage point improvement[62]. - Profit before income tax for 2021 was HK$126,662, compared to a loss of HK$735,630 in the previous year[64]. Property and Asset Management - The decrease in the value of properties held by the Group and its joint ventures was HK$25.5 million, significantly reduced from a decrease of HK$866.0 million in the last financial year[13]. - The Group's properties are primarily for leasing purposes, which did not impact cash flow despite unrealized property value decreases[13]. - The improvement in operating results was driven by the reduction in the decrease of property values held by the Group[13]. - The Group continues to focus on property management and leasing strategies to enhance revenue streams[13]. - The Group's total assets as of 2021 were HK$7,747 million, compared to HK$7,586 million in 2020[52]. - The Group's total liabilities decreased slightly to HK$3,269 million in 2021 from HK$3,252 million in 2020[52]. Banking and Financial Position - As of December 31, 2021, the Group's total banking facilities amounted to HK$3,621.5 million, an increase from HK$3,221.7 million in 2020, with total bank borrowings at HK$2,075.7 million[19]. - The Group's cash and cash equivalents, short-term bank deposits, and restricted cash were HK$1,414.9 million as of December 31, 2021, slightly down from HK$1,422.1 million in 2020[19]. - The net gearing ratio for the Group as of December 31, 2021, was 0.16, compared to 0.15 in 2020, calculated as net debt divided by total equity[23]. Employee and Remuneration - The Group employed approximately 3,500 employees as of December 31, 2021, with a remuneration policy based on job nature, qualifications, and experience[32]. - The Group's employee benefit expenses to revenue ratio increased to 14.9% in 2021 from 13.8% in 2020[62]. - The total emoluments for Mr. Wong Chung Mat, Ben, is HK$4,506,749, while Ms. Wong Yin Man, Ada, receives HK$2,406,222[127]. Strategic Outlook and Development - Future outlook includes monitoring market conditions and potential opportunities for property acquisitions and expansions[13]. - The Group is focused on developing a new manufacturing facility in Vietnam with a floor area of 30,000 square meters, expected to be completed in 2022[38]. - The Group plans to closely collaborate with customers to find alternative sources of materials due to current supply chain difficulties[38]. - The business review highlights future development plans and risks, emphasizing the importance of strategic partnerships[83]. Customer and Supplier Relationships - The largest customer accounted for 40% of sales, indicating a significant reliance on key clients[88]. - The largest supplier accounted for 8% of the Group's purchases, while the five largest suppliers combined accounted for 29%[94]. - The largest customer represented 44% of the Group's sales, and the five largest customers combined accounted for 76%[94]. - The Group aims to build long-term relationships with suppliers to ensure high-quality product delivery[90]. Environmental and Social Responsibility - The company is committed to environmental responsibility, actively working to reduce emissions and waste[81]. - The Group's performance on environmental and social matters is outlined in the Environmental, Social and Governance Report of the Annual Report[195]. - The Board regularly assesses and reviews environmental, social, and governance risks and opportunities, formulating strategies to ensure effective control systems are in place[200]. - The Group's ESG Strategy aims for high-level positive outcomes in five major areas, including ethical governance and providing high-quality, safe products[200]. Shareholder Information - Mr. Wong Chung Mat, Ben, holds 136,828,569 shares, representing approximately 28.60% of the issued shares[134]. - Ms. Wong Yin Man, Ada, holds 1,000,000 shares, representing approximately 0.21% of the issued shares[134]. - Salop Hong Kong Limited, a company wholly owned by Mr. Wong Chung Mat, Ben, holds 135,828,569 shares, representing approximately 28.39% of the issued shares[140]. - The Company adopted a share option scheme on June 26, 2020, but no options have been granted under this scheme as of December 31, 2021[151].
王氏国际(00099) - 2021 - 年度财报