建滔集团(00148) - 2021 - 年度财报

Financial Performance - Kingboard Holdings reported a record net profit attributable to shareholders of HK$10,778 million for FY 2021, surpassing the HK$10,000 million milestone[16]. - Revenue for FY 2021 reached HK$56,755.3 million, representing a 30% increase from HK$43,510.3 million in FY 2020[11]. - EBITDA for FY 2021 was HK$17,559.9 million, a significant increase of 75% compared to HK$10,059.2 million in FY 2020[11]. - The underlying net profit for FY 2021 was HK$10,565.4 million, reflecting a 125% increase from HK$4,685.8 million in FY 2020[11]. - Basic earnings per share based on underlying net profit increased by 125% to HK$9.537 from HK$4.241 in FY 2020[11]. - The Group achieved a record annual net profit attributable to shareholders of HK$10,778 million, surpassing HK$10 billion for the first time[18]. - Revenue increased by 30% to HK$56,755.3 million, with underlying net profit (excluding non-recurring items) rising significantly by 125% to HK$10,565.4 million[20][21]. Dividends - The company proposed a final dividend of HK$0.56 per share and a special final dividend of HK$2.44 per share, marking a 144% increase from the previous year[11]. - The Board proposed a final dividend of HK$2.44 per share, subject to shareholder approval[20][21]. - An interim dividend of HK56 cents per ordinary share was declared, amounting to HK$620,924,000, with a proposed final dividend of HK244 cents per share, totaling HK$2,705,452,000[91]. - The Board will review the dividend policy periodically, considering financial results, distributable reserves, and future development plans[95]. Business Segments Performance - The Chemicals Division saw considerable price increases in major products, contributing to strong results driven by market demand[17]. - The Property Division maintained stable performance in both residential pre-sale and rental income during the period[17]. - The Laminates Division sold a total of 124 million sheets, marking an increase of 6 million sheets from 2020, with segment revenue rising 76% to HK$29,205.7 million[25]. - The PCBs Division's revenue increased by 29% to HK$13,600.8 million, with EBITDA rising by 5% to HK$1,756.8 million[25]. - The Chemicals Division's revenue surged by 55% to HK$16,377.3 million, with EBITDA soaring by 184% to HK$4,385.8 million[25]. - The Property Division reported contracted pre-sales worth HK$2,919 million, but revenue declined 71% to HK$2,375 million due to a drop in units handed over[28]. - Rental income in the Property Division increased by 8% to HK$1,200.5 million, attributed to improving occupancy rates post-pandemic[28]. Investments and Capital Expenditure - The Group invested approximately HK$2,900 million in new production capacity and HK$1,800 million in property construction expenses during the period[29]. - The Group's net gearing ratio was approximately 19%, with short-term bank borrowings accounting for 58% of total borrowings[29]. - The group invested approximately HK$2.9 billion in new production facilities and HK$1.8 billion in real estate construction costs during the review period[31]. - The Group is exploring capacity expansion for laminates and PCBs in Thailand to better serve overseas clients[45][46]. Risk Management - The Group faces various risks and uncertainties that may materially affect its business operations and financial condition[78]. - Key risks identified include product defects that could lead to significant liability claims[79]. - The Group's products may contain defects only detectable when incorporated into electronic systems, posing potential risks to operations and reputation[79]. - Customer contracts are typically one-time purchase orders, leading to unpredictable future order amounts[80]. - There is no guarantee that customers will continue to place orders of similar amounts in the future, which may significantly impact operational performance[80]. - The Group has implemented monitoring systems at various production stages to mitigate product defects[79]. Corporate Governance and Management - The Company complied with the Corporate Governance Code throughout the year, except for the deviation regarding independent non-executive Directors not being appointed for specific terms[162]. - The Board will continue to enhance corporate governance practices to comply with the New CG Code effective from 1 January 2022[167]. - The Group's financial management is overseen by a chief financial controller with over 12 years of experience in government finance and economics[66]. - The Group's independent non-executive director has extensive experience in the performance and cultural sector, contributing to the company's governance[66]. - The Group's leadership team includes family members, indicating a strong familial connection and commitment to the company's long-term vision[59]. Employee Management - The Group maintained a global workforce of approximately 36,000 employees, with ongoing training and development programs to retain talent[34]. - The Group regularly reviews its employee remuneration and benefits policies to ensure alignment with market standards, recognizing employees as its most valuable assets[88]. - The remuneration committee determines employee compensation based on performance, qualifications, and work capability[190]. Environmental and Social Responsibility - The Group is committed to environmental sustainability and compliance with relevant laws and regulations, regularly reviewing its environmental policies[86]. - The Group is committed to upgrading research and development capabilities and enhancing environmental friendliness in its operations[44]. Shareholder Information - The register of substantial shareholders showed no shareholder entitled to control one-third or more of the voting power at general meetings[160]. - The Company has sufficient public float of its issued shares as required under the Listing Rules[193]. - The movements in property, plant, and equipment are detailed in the consolidated financial statements[112]. Strategic Outlook - The Group is confident in its development for 2022, focusing on a diversified business portfolio and a vertically integrated production model[44]. - The Group emphasizes strict cash flow management to build a healthier balance sheet while expanding market share[44].