Financial Performance - Revenue for 2022 was HK$80.7 million, a decrease of 19.6% from HK$100.4 million in 2021[11] - Profit attributable to owners of the Company was a loss of HK$1.5 million, compared to a loss of HK$56.7 million in 2021[11] - Equity attributable to owners of the Company stood at HK$1,579.7 million, slightly down from HK$1,582.5 million in 2021[11] - Earnings per share for 2022 was a loss of HK$0.03, an improvement from a loss of HK$0.98 in 2021[11] - The Company reported a significant decrease in revenue over the past five years, with 2020 revenue at HK$145.4 million and 2018 at HK$202.1 million[11] - The loss attributable to the owners of the Company improved by 97.4% from HK$56,712,000 last year to HK$1,501,000 this year[13] - The money lending segment recorded a profit of HK$49,005,000 for the year[14] - The cruise ship charter services segment recorded a significant decrease in loss by 49.7% from HK$112,325,000 last year to HK$56,449,000 this year[17] - The property investment segment turned around with a profit of HK$28,284,000 due to fair value gains of investment properties[17] Business Strategy and Operations - The Company focuses on cruise ship charter services, property investment, securities trading, and money lending[9] - The Company aims to enhance its market position through strategic investments and potential acquisitions in the future[11] - The management discussed plans for expanding property investments and improving operational efficiencies[11] - The Group plans to allocate resources to capture growth opportunities as business sentiment improves[18] - The Group will continue to seek potential investment opportunities to diversify its portfolio[18] - The cruise ship "Aegean Paradise" resumed sailing at the end of January 2022 after a suspension of over 20 months[17] - The Group granted temporary rental reductions to tenants in response to the soft commercial leasing market in Hong Kong[17] Economic Environment - The Hong Kong economy is expected to expand in a range of 1% to 2% in 2022, down from a previous prediction of 2% to 3.5%[13] - The S&P Global Hong Kong Purchasing Managers' Index jumped to 54.9 in May 2022, indicating a promising rebound for the city[13] Financial Position and Assets - Total gross loan and interest receivables increased by 11.7% to HK$739,077,000 as of 31 March 2022, compared to HK$661,861,000 in 2021[32] - The Group's mortgage loan and interest receivables amounted to HK$725,087,000, an increase from HK$639,992,000 in 2021[32] - The Group's equity attributable to owners was HK$1,579,704,000, slightly down from HK$1,582,541,000 in 2021[42] - Cash and cash equivalents amounted to HK$401,548,000, compared to HK$454,297,000 in 2021[42] - Outstanding guarantees to banks were HK$130,000,000, down from HK$190,000,000 in 2021, with no credit facility utilized[42] Corporate Governance - The Company is committed to maintaining strong corporate governance and transparency in its financial reporting[11] - The Company has complied with all provisions of the Corporate Governance Code for the year ended 31 March 2022, except for code provision F.2.2 regarding the chairman's attendance at the annual general meeting[60] - All directors confirmed compliance with the Model Code for Securities Transactions during the year[62] - The Board comprises nine members, meeting the requirements of the Listing Rules regarding independent non-executive directors[83] - The Company held 7 board meetings and one annual general meeting during the year[85] - The Board has established three committees: Remuneration Committee, Nomination Committee, and Audit Committee, with clearly defined terms of reference[105] Environmental, Social, and Governance (ESG) Reporting - The ESG Report covers the period from April 1, 2021, to March 31, 2022, and is prepared in accordance with the ESG Reporting Guide under Appendix 27 of the Listing Rules[175] - The Company has conducted materiality assessments of ESG issues, with the Board participating in the evaluation and management of these issues[175] - The Group values stakeholder engagement and recognizes the importance of understanding stakeholder needs and expectations for success[179] - The Group has set environmental targets associated with its businesses and conducts regular reviews of progress towards these targets[175] Employee and Workforce Management - The total workforce of the Group consists of 31 employees, with 42% male (13 employees) and 58% female (18 employees)[128] - The Group's employee benefit expense for the year was HK$19,456,000, a decrease from HK$21,067,000 in the previous year, reflecting the impact of COVID-19[55] - The Group's total staff count as of March 31, 2022, was 31, a slight decrease from 32 in the previous year[55] Risk Management - The Board has reviewed the effectiveness of the Group's risk management and internal control systems and deemed them effective and adequate[161] - The Company has established internal audit functions to safeguard assets and ensure compliance with applicable laws and regulations[161] - The board has continuously monitored the company's risk management and internal control systems, which have been reviewed and deemed effective and sufficient[165]
新世纪集团(00234) - 2022 - 年度财报