Financial Performance - Loss for the year attributable to owners of the company was HK$1,452.6 million, a 357.3% increase compared to HK$317.6 million in 2020[4] - Basic loss per share was HK$0.6302, a 357.3% increase from HK$0.1378 in 2020[4] - The Group recorded a loss attributable to owners of approximately HK$1,452,609,000 for the year 2021, compared to a loss of approximately HK$317,641,000 for 2020, resulting in a basic loss per share of 63.02 HK cents for 2021, up from 13.78 HK cents in 2020[9] - The loss attributable to the owners of the Company increased by approximately 357.3% from approximately HK$317,641,000 in 2020 to approximately HK$1,452,609,000 in 2021[34] - The basic loss per share attributable to ordinary equity holders increased from 13.78 HK cents in 2020 to 63.02 HK cents in 2021[34] Assets and Liabilities - Total assets decreased by 22.6% to HK$11,572.0 million from HK$11,238.9 million in 2020[4] - Equity attributable to owners of the company decreased by 20.3% to HK$5,231.3 million from HK$6,559.8 million in 2020[4] - Pledged bank deposits, cash, and bank balances decreased by 82.2% to HK$141.2 million from HK$793.5 million in 2020[4] - The Group's total loan receivables increased from approximately HK$1,439,301,000 as at December 31, 2020, to approximately HK$2,239,727,000 as at December 31, 2021, attributed to advances of short-term loans[43] - Deposits, prepayments, and other receivables rose from approximately HK$420,467,000 as at December 31, 2020, to approximately HK$714,075,000 as at December 31, 2021, mainly due to increased deposits for acquiring non-performing assets[44] Borrowings and Liquidity - Total borrowings of the Group as of December 31, 2021, amounted to approximately HK$5,036,159,000, an increase of about 58.5% from HK$3,172,884,000 in 2020[61] - Short-term borrowings increased to HK$541,037,000 in 2021 from HK$217,848,000 in 2020, reflecting a rise of approximately 148.5%[61] - Long-term borrowings rose to HK$3,193,628,000 in 2021, up from HK$1,571,112,000 in 2020, marking an increase of about 103.9%[61] - The Group's net borrowings as of December 31, 2021, were approximately HK$4,894,954,000, compared to HK$2,379,364,000 in 2020, indicating an increase of about 105.0%[61] - The Group's liquidity position is closely monitored to ensure adequate liquidity to meet funding requirements at all times[50] Revenue and Income - The Group's rental income for Year 2021 amounted to approximately HK$87,376,000, representing a slight decrease of approximately 1.97% from HK$89,128,000 in Year 2020[37] - Rental income from the Group's property leasing business decreased from approximately HK$89,128,000 in 2020 to approximately HK$87,376,000 in 2021[29] - Other income, gains, and losses increased from approximately HK$285,084,000 in Year 2020 to approximately HK$348,441,000 in Year 2021, mainly due to increased interest income and gains on disposal of financial assets[37] Investment Activities - The Group acquired non-performing asset portfolios with a total principal and accrued interest of approximately RMB1,220 million as of December 31, 2021[16] - The Group has invested RMB505,000,000 (approximately HK$617,359,000) into the NT Trust Scheme, which focuses on property development investments in Zhuozhou and Shenyang, PRC[23] - The Group is setting up an investment fund to invest in urban redevelopment projects in the Greater Bay Area, aiming to create investment returns for shareholders[21] - The Group plans to adjust its investment portfolio by increasing short-term investments to improve liquidity in response to potential economic downturns[26] Corporate Governance - The Company has a strong governance structure with independent non-executive directors contributing to audit and nomination committees[123] - The Group's corporate governance practices comply with the Corporate Governance Code, except for specific provisions regarding the separation of roles of chairman and CEO[146] - The Board consists of four executive Directors and three independent non-executive Directors, ensuring that independent Directors represent no less than one-third of the Board[161] - The Board has established three standing committees: the audit committee, the remuneration committee, and the nomination committee to assist in governance[168] Management and Staff - The Group's overall staff costs amounted to approximately HK$76,641,000 for the year 2021, an increase from HK$66,788,000 in 2020[85] - The Group's employee count decreased to 84 as of December 31, 2021, down from 104 in the previous year[85] - The management team includes professionals with extensive backgrounds in finance, law, and property management, enhancing strategic decision-making capabilities[130][133] Environmental, Social, and Governance (ESG) - The Company emphasizes environmental, social, and governance (ESG) practices in its operations[136] - Energy-saving measures have been implemented in the Group's offices to reduce electricity consumption and greenhouse gas emissions[144] - The Group has adopted policies to promote recycling and the use of eco-friendly stationery, contributing to resource efficiency and waste reduction[144] - The Company engaged external professionals to review its environmental, social, and governance (ESG) policies for 2021 and will publish the ESG report by May 31, 2022[144]
银建国际(00171) - 2021 - 年度财报