Financial Performance - The company reported a profit attributable to shareholders of HKD 429 million for the fiscal year, compared to a loss of HKD 906 million in the previous year, marking a significant turnaround [11]. - Revenue decreased by 17% to HKD 2,303 million from HKD 2,789 million year-on-year [7]. - The company recorded revenue of HKD 2,303,000,000 for the fiscal year, a decrease from HKD 2,789,000,000 in the previous year, but turned a profit of HKD 429,000,000 compared to a loss of HKD 906,000,000 in the prior year [20]. - Gross profit for the same period was HKD 2,198 million, down from HKD 2,707 million, reflecting a decline of 18.8% [61]. - Operating profit for the year was HKD 823 million, a significant recovery from an operating loss of HKD 1,288 million in the previous year [61]. - Total revenue for the fiscal year ending March 31, 2023, was HKD 2,303 million, a decrease of 17.4% compared to HKD 2,789 million in the previous year [61]. Assets and Liabilities - Total assets increased by 8% to HKD 42,680 million, while net assets rose by 19% to HKD 23,956 million [7]. - The total asset value of the group was approximately HKD 42.7 billion, an increase from HKD 39.5 billion in 2022, while the net asset value rose to HKD 24 billion from HKD 20.1 billion [39]. - The net debt amounted to HKD 15.5 billion, a decrease from HKD 16.3 billion in 2022, with a net debt to revalued net asset ratio of approximately 50% compared to 62% in 2022 [39]. - The debt-to-equity ratio improved to 50% from 62%, reflecting a 12% decrease in net debt [7]. Development Projects - The company achieved a cumulative contract sales amount of RMB 4.8 billion for a residential development project in Tongzhou, Beijing, with approximately 95% of pre-sale units delivered during the fiscal year [11]. - The company plans to launch two new development projects in the second half of 2023, including a large residential project in Hong Shui Qiao and a high-end residential project on Po Shan Road [11]. - The company sold approximately 77% of residential units in the Beijing Tongzhou development project, generating total sales of about RMB 4.8 billion, with 95% of sold units delivered within the fiscal year [24]. - The company achieved a cumulative sales total of approximately HKD 2.5 billion from the "Royal Peak" luxury residential project, with 75% of units sold as of March 31, 2023 [25]. - The company is preparing to launch sales for a high-end residential project in Yuen Long, with 1,025 units planned, following the completion of foundation works [26]. Hotel and Tourism Business - The hotel business showed continuous improvement as travel restrictions were lifted, contributing positively to overall performance [11]. - The hotel and tourism segment saw a revenue increase of 120% to HKD 167,000,000, up from HKD 76,000,000 in the previous year, contributing positively to the segment's performance [35]. - The company is focused on expanding its hotel business in prime locations in Hong Kong, targeting business travelers and visitors from mainland China [17]. Financial Investments - The company holds financial investments valued at approximately HKD 8,780,000,000, an increase from HKD 7,600,000,000 in the previous year, with 91% of the portfolio in listed debt securities [36]. - The diversified property and financial investment portfolio provides stable and recurring income streams for the company [16]. Environmental and Sustainability Initiatives - The company reported a reduction in Scope 1 greenhouse gas emissions from 285 tons in the previous year to 123 tons in 2023, representing a decrease of approximately 57% [79]. - Scope 2 emissions increased from 12,291 tons to 13,284 tons, reflecting a rise of about 8% due to higher energy demand from increased hotel occupancy [79][80]. - The total amount of non-hazardous waste generated decreased from 1,425 tons to 1,399 tons, a reduction of approximately 2% [79]. - The company replaced and upgraded various equipment to more energy-efficient models, contributing to ongoing energy savings initiatives [81]. - The company aims to achieve green building certification for its projects in Hong Kong and Vancouver, aligning with sustainable development goals [84]. - The company has not faced any penalties for environmental protection violations during the reporting year [78]. Employee and Workplace Safety - The group employed approximately 340 staff as of March 31, 2023, down from 360 in 2022, with a compensation structure aligned with job nature and experience [47]. - Total employee count decreased from 357 to 338, a reduction of approximately 5.3% [98]. - Employee turnover rate increased significantly from 35% to 65%, indicating a notable rise in workforce instability [100]. - The number of lost workdays due to occupational injuries rose from 72 to 145, reflecting a deterioration in workplace safety [100]. - The company maintained a zero fatality record for the past three years, demonstrating a commitment to employee safety [100]. Corporate Governance - The board consists of six executive directors and three independent non-executive directors, ensuring a separation of roles between the chairman and the CEO [121]. - The company has established compliance procedures to ensure adherence to applicable laws and regulations, with no reported violations during the reporting year [107]. - The board reviewed corporate governance policies and ensured compliance with relevant laws and regulations during the year [125]. - The company emphasizes effective communication with shareholders and investors, holding multiple meetings with local and institutional investors throughout the year [153]. Social Responsibility - A total of HKD 97,000 was donated to various charitable organizations during the reporting year [117]. - The company continues to implement corporate social responsibility initiatives, focusing on urgent social issues and supporting communities in need [112].
汇汉控股(00214) - 2023 - 年度财报