Financial Performance - For the year ended June 30, 2022, the revenue was HK$56,738,000, a significant decrease from HK$994,589,000 in 2021, representing a decline of approximately 94.3%[4] - The company reported a loss attributable to owners of the company of HK$149,187,000, compared to a profit of HK$29,370,000 in the previous year[4] - Earnings per share for 2022 was (HK$0.23), down from HK$0.23 in 2021, indicating a shift from profitability to loss[4] - The consolidated loss after income tax for the year ended June 30, 2022, was HK$149,232,000, compared to a profit of HK$149,516,000 in 2021, indicating a significant decline in performance[60] - Gross profit for the year was HK$8,745,000, significantly lower than HK$731,494,000 in the corresponding year[190] - Other income decreased by 55.2% to HK$35,888,000 compared to last year, primarily from dividend and interest income[192] - Loss attributable to owners of the Company for the year was HK$149,187,000, compared to a profit of HK$148,700,000 in the previous year[195] - Basic and fully diluted loss per share was HK$0.23, down from earnings per share of HK$0.23 in the previous year[195] Assets and Equity - The total fixed assets amounted to HK$6,784,458,000, showing a slight increase from HK$6,701,336,000 in 2021[4] - Net current assets decreased to HK$827,341,000 from HK$1,232,161,000 in 2021, reflecting a decline of approximately 32.8%[4] - The net assets of the company were HK$6,868,543,000, down from HK$7,050,739,000 in the previous year, indicating a decrease of about 2.6%[4] - Total equity attributable to owners decreased by HK$182,151,000 or 2.7% to approximately HK$6,691,479,000 as of June 30, 2022[199] - Total equity per share was HK$10.25, a decrease of 2.7% from HK$10.53 as of June 30, 2021[199] Dividends - The company declared a dividend of HK$0.04 per share, down from HK$0.07 per share in 2021[4] - The total dividend for the year is HK3.5 cents per share, a decrease of 30% from HK5.0 cents per share in the previous year[60] - The final dividend of HK2.0 cents per share is proposed, down from HK3.0 cents per share in 2021, to be paid on December 15, 2022, pending shareholder approval[60] - Proposed final dividend of HK$2.0 cents per share, down from HK$3.0 cents in the previous year, totaling HK$3.5 cents for the year compared to HK$5.0 cents previously[196] - The dividend cover ratio was not applicable for 2022, compared to 3.29 times in 2021[4] Shareholder Meeting and Governance - The company plans to hold its Annual General Meeting on November 23, 2022, to discuss the financial results and other matters[8] - The company is authorized to repurchase up to 10% of its issued share capital during the relevant period as per the resolutions passed at the Annual General Meeting[12] - The Company seeks approval for a general mandate to repurchase shares[39] - The Directors have no immediate plans to issue any new shares, seeking approval as a general mandate in compliance with Listing Rules[39] - The aggregate nominal amount of share capital allotted by the Directors shall not exceed 20% of the issued share capital[18] - The "Relevant Period" for the approval extends until the conclusion of the first Annual General Meeting following the passing of the Resolution[22] - Precautionary measures for the AGM include compulsory body temperature checks and mandatory wearing of surgical masks[44] - Shareholders can appoint proxies to attend and vote at the AGM[33] - The Company will not provide refreshments or distribute gifts at the AGM[43] - The AGM will implement social distancing measures in the seating arrangement[41] - Any person with a body temperature of 37.5 degrees Celsius or above will not be allowed access to the AGM venue[44] - The Company will take necessary actions to ensure compliance with health regulations during the AGM[41] Real Estate and Market Conditions - The company highlights the urgency for fully reopening borders and welcoming overseas visitors due to the prolonged pandemic[60] - The demand for hotel and short-term accommodation in Kuala Lumpur has decreased drastically following the COVID-19 outbreak[94] - The Macau property market has been significantly impacted by COVID-19, with new casino license contracts expected to start in early 2023[83] - The tightening policies in Shenzhen have led to a decline in residential property transaction volume and prices[74] - The Hangzhou real estate market is showing signs of stabilization due to new policies that lower taxes and fees[85] - The Macau government anticipates that the new casino licenses will bring innovative proposals that will benefit the tourism sector in the long run[88] Investment and Financial Strategy - As of June 30, 2022, the total investment in the bond market was HK$155,724,000, with HK$2,332,000 redeemed during the year and no new bonds purchased[102] - The market value of investments in Hong Kong stocks as of June 30, 2022, was HK$44,856,000, with HK$11,939,000 in stocks purchased during the year and no stocks sold[103] - The Group has paid land appreciation tax of RMB1,316 million related to Cheuk Nang Garden and plans to claim a refund of income tax[84] - The construction of the Hangzhou project has been completed, and planning acceptance has been approved[82] - The construction of the Cheuk Nang Riverside development is completed, comprising 849 residential units and 22 deluxe villas[86] Management and Leadership - Dr. Cecil Chao has been the Executive Chairman since 1988, with over 50 years of experience in various industries including property and construction[122] - Mr. Lam has over 25 years of experience in investment banking and is currently the Managing Director of an investment bank[123] - Mr. Yung has more than 20 years of experience in the accounting industry and is a Certified Public Accountant[134] - Mr. Lee has 37 years of experience in manufacturing, property development, and investment, with a strong knowledge of international distribution networks[130] - Mr. Chao has been involved in youth development initiatives, promoting economic ties between Hong Kong and Mainland China[142] - Ms. Chao has a background in architecture and has worked on significant projects in Hong Kong and Mainland China[148]
卓能(集团)(00131) - 2022 - 年度财报