Financial Performance - For the year ended December 31, 2022, the total revenue was HKD 1,429,488,000, representing a 196% increase from HKD 482,878,000 in 2021[16]. - The net profit attributable to equity shareholders for 2022 was HKD 76,302,000, compared to a net loss of HKD 194,724,000 in 2021, resulting in a basic earnings per share of HKD 0.224[14]. - The total revenue from the hotel business increased to HKD 1,331,000,000 in 2022, a 250% rise from HKD 380,400,000 in 2021[25]. - The operating profit for 2022 was HKD 162,100,000, a significant recovery from an operating loss of HKD 202,600,000 in 2021[16]. - The profit attributable to equity shareholders for the year ended December 31, 2022, was HKD 76,302,000, compared to a loss of HKD 194,724,000 in 2021[93]. - The company reported a significant increase in revenue, with a year-over-year growth of 15%[137]. - The company reported a net profit margin of 12%, up from 10% in the previous year[137]. Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.05 per share for the year ended December 31, 2022, up from HKD 0.04 per share in 2021[15]. - Charitable donations made by the company during the year amounted to HKD 529,126, a decrease from HKD 1,060,439 in 2021[95]. Asset and Financial Position - The total assets increased to HKD 5,635,896,000 in 2022 from HKD 5,579,024,000 in 2021[7]. - The company maintains a strong financial position with bank deposits and short-term bank deposits totaling HKD 1,341,300,000 as of December 31, 2022[53]. - The company maintained a liquidity ratio with bank loans accounting for 25% of total assets, down from 27% in the previous year[128]. - The leverage ratio remained stable at 37%, consistent with the previous year[128]. - Interest coverage ratio was 2 times for the year, indicating improved profitability relative to financing costs[128]. - Total value of hotel properties pledged as collateral for bank loans was HKD 1,895,000,000, a decrease from HKD 1,958,400,000 in 2021[129]. Market and Economic Conditions - The overall economic environment in Macau faced challenges, with a GDP contraction of 26.8% in 2022, impacting the business landscape[17]. - The overall economic growth in Vietnam was 8.02% in 2022, marking the fastest growth since 1997, which positively impacted the hotel business[29]. - The company is optimistic about the hotel industry's outlook for 2023, despite facing challenges such as global economic slowdown and labor shortages[53]. Occupancy Rates and Hotel Performance - The occupancy rate for residential properties dropped to 72% in 2022 from 79% in 2021, influenced by lockdowns and travel restrictions[17]. - In Wuhan, the occupancy rate increased to 51.1% in 2022 from 45.6% in 2021, while the average room rate decreased to RMB 305 from RMB 397[27]. - The occupancy rate at the Sheraton Saigon Hotel rose to 55.4% in 2022 from 18.7% in 2021, with an average room rate of USD 148 compared to USD 90[32]. - The occupancy rate at the Sailing Hotel increased to 51.5% in 2022 from 12.1% in 2021, with an average room rate of USD 122 compared to USD 80[33]. - The occupancy rate at the W Hotel in San Francisco was 69% in 2022, up from 43% in 2021, with an average room rate of USD 305 compared to USD 197[25]. - The occupancy rate at the Sofitel New York was 61% in 2022, significantly up from 4% in 2021, with an average room rate of USD 387 compared to USD 338[25]. - The occupancy rate of the San Francisco W Hotel increased to 68.8% in 2022, up from 42.7% in 2021, with an average room rate of $305 per night compared to $197 in 2021[40]. - The occupancy rate of the New York Sofitel Hotel rose from 4.0% in 2021 to 61.2% in 2022, with an average room rate of $387 per night, up from $338 in 2021[41]. ESG and Corporate Governance - The company emphasizes the integration of its ESG strategy with business operations, focusing on reducing environmental impact and promoting community and employee development[66]. - The board monitors ESG risks and opportunities, ensuring compliance with listing rules and reviewing performance against ESG-related goals[67]. - The company has implemented sufficient measures and monitoring systems to comply with ESG strategies, with no reported incidents of non-compliance affecting business operations during the year[90]. - The company is committed to providing a safe working environment, adhering to local safety laws, and has had no work-related fatalities in the past three years[71]. - The company actively participates in community investment and social sustainability initiatives, focusing on areas such as environmental protection and health support[74]. - The company has implemented various energy and water-saving measures, including the use of LED lighting and solar energy[79]. - The company’s properties have received multiple recognitions for their environmental protection efforts[78]. - The company maintains high ethical standards in its operations, aiming to enhance shareholder wealth in the long term[81]. - The company has established a nomination policy to ensure a diverse and qualified board, considering various factors such as gender, age, and professional qualifications[182]. - The company emphasizes a commitment to high corporate governance standards, ensuring shareholder rights and enhancing corporate value[153]. Board Structure and Function - The board consists of 12 members, including 7 executive directors, 1 non-executive director, and 4 independent non-executive directors[158]. - The company has complied with listing rules by appointing at least three independent non-executive directors, with at least one possessing appropriate professional qualifications[159]. - The board's main function is to set the overall strategy and investment direction of the group, while daily management is delegated to the management team[162]. - Independent non-executive directors contribute balanced skills and independent judgment to the decision-making process[162]. - The company secretary has participated in no less than 15 hours of relevant professional training to comply with listing rules[168]. - The board has established four committees: Audit and Compliance Committee, Remuneration Committee, Nomination Committee, and Risk Management Committee[170]. - The Audit and Compliance Committee held three meetings during the year, including three meetings with external auditors and three with the internal audit team to review risk management and internal control frameworks[173]. - The Remuneration Committee held two meetings to review the remuneration policies and structures for executive and non-executive directors, ensuring no conflicts of interest in remuneration decisions[176]. - The Nomination Committee conducted two meetings to assess the board's composition and diversity policies, confirming their effectiveness and appropriateness[181]. - The board currently consists of 11 members, including two female members, reflecting a commitment to diversity in age, gender, and professional background[183]. - The company’s workforce comprises 45% female employees and 55% male employees, demonstrating a commitment to diversity at all levels[184]. Risk Management - The Risk Management Committee was established in 2020 and currently consists of independent non-executive directors, with a primary responsibility to oversee the implementation and operation of the group's risk management system[185]. - The committee held two meetings during the year to review and discuss the group's risk management system and provided recommendations to the board[185]. - The board is responsible for assessing and determining the nature and extent of risks within the group's business and the effectiveness of internal controls[198]. - The internal audit department monitors the risk management and internal control systems, conducting independent audits across all business units[199]. - The group has established a confidential reporting mechanism to ensure timely responses to concerns raised by the internal audit department and the audit and compliance committee[199].
激成投资(00184) - 2022 - 年度财报