Company Location and Facilities - The company is located in a prime area of Hong Kong's Kowloon East, specifically at 2 Wing Yip Street, Kwun Tong, with a 180-degree view of Victoria Harbour[29] - The LU+ Business Centre features high-quality meeting venues for multifunctional purposes and a state-of-the-art gym room[31] Risk Management and Governance - The company has implemented effective risk management mechanisms and internal control systems as of March 31, 2023[7] - The board has reviewed the implementation of the shareholder communication policy and is satisfied with its effectiveness[12] - The company has adopted a whistleblowing policy to ensure transparency and accountability in handling suspicious activities and fraud[6] - The company maintains a zero-tolerance policy towards corruption and has established a comprehensive anti-corruption framework[6] - The company has engaged a professional firm for internal audit functions to assist the board in reviewing the internal control systems[16] - The company has a strong governance structure, with experienced board members overseeing its operations and strategic direction[52][54] - The company emphasizes high standards of business ethics and governance, requiring all employees to act legally and ethically according to the company's policies[171] - The board is responsible for long-term strategy formulation and monitoring, approving dividends, and reviewing significant acquisitions and asset sales[179] - The company has established a mechanism for directors to seek independent professional advice to ensure strong decision-making independence[180] - The board will continue to review and improve corporate governance practices to ensure proper regulation of business activities and decision-making processes[169] Shareholder Engagement and Dividends - The company encourages shareholders to attend annual general meetings to discuss progress and matters[2] - The company has a dividend policy in place, although specific figures are not detailed in the provided content[25] - The company aims to provide shareholders with a long-term stable dividend income, subject to performance and business environment considerations[40] - The company proposed a final dividend of HKD 0.03 per share, totaling HKD 12.15 million, down from HKD 0.06 per share in the previous year[81] - The board aims to provide stable long-term dividend income to shareholders, with generous dividends based on business conditions and company performance[164] Community Engagement and Social Responsibility - The company has been recognized for 20 consecutive years with the "Caring Company" logo, reflecting its commitment to social responsibility[41] - The company supports various community service initiatives, including providing meals and vouchers to underprivileged groups and the elderly[45] - The company has sponsored the Hong Kong women's volleyball team for a five-year development plan to improve their skills[44] - The company has engaged in charitable activities, including supporting the Hong Kong Red Cross and various local community projects[43] - The company has implemented community service plans to assist underprivileged women and unemployed individuals through training and employment support[44] - The company has organized fundraising events to support local charities, raising funds to provide 1,608 meal boxes for the underprivileged[45] - The company has been actively involved in environmental protection initiatives and community engagement activities[41] - The company has committed to community investment, with a focus on creating a positive social impact[199] Financial Performance - The company reported a loss attributable to shareholders of approximately HKD 188.29 million, an increase of about 123% compared to a loss of HKD 84.54 million in the same period last year[83] - Revenue increased by approximately 20% to HKD 147.35 million from HKD 122.85 million in the previous year[83] - The company's pre-tax core profit, excluding fair value losses on investment properties, decreased by approximately 43% to about HKD 36.55 million[83] - The pre-tax loss was HKD 175.29 million, an increase of about 142% compared to a loss of HKD 72.51 million in the previous year[83] - Total assets decreased to HKD 4,056.53 million from HKD 4,175.96 million in the previous year[83] - The company's net asset value per share was HKD 9.63, down from HKD 9.95 in the previous year[83] - Total rental income increased by approximately 6% to HKD 101,644,000, while profit (excluding fair value losses on investment properties) rose by about 17% to HKD 62,391,000[85] - The financial investment segment reported a significant loss, with revenue increasing by approximately 262% to HKD 25,477,000, but a loss of HKD 17,830,000 due to increased fair value losses on financial assets[89] - The company sold 5,200 ounces of non-physical gold, incurring a loss of approximately HKD 8,226,000, and also recorded a loss of HKD 13,392,000 from the sale of all overseas stocks[89] Employee Welfare and Development - The group has established a fair and effective performance evaluation system and incentive bonus plan to motivate employees and achieve business performance goals[126] - The company emphasizes employee well-being and work-life balance, providing paid leave for various circumstances[151] - The company offers competitive compensation packages, including mandatory provident fund contributions, medical insurance, and various allowances, with annual reviews based on macroeconomic conditions and company performance[149] - The total employee turnover for the reporting period was 1, a significant decrease from 6 in the previous year[161] - The company reported zero employee work-related fatalities during the reporting period, maintaining a consistent record over the past three years[146] - Employee work-related lost days due to injuries were recorded at 0 for the current year, down from 3 in the previous year[146] - The total training hours for employees reached 922 hours in 2023, significantly up from 118.5 hours in 2022, with 25 employees receiving training[192] - The average training hours for employees in 2023 were 60.75 hours, compared to 9.63 hours in 2022[195] - The company aims to enhance employee retention and development through internal and external training programs[191] - The employee turnover rate for those aged 30 and below was 0.0%, while the rate for those aged 30-49 was also 0.0%[188] Environmental, Social, and Governance (ESG) Initiatives - The ESG report outlines the company's commitment to sustainability and the significant impact of its operations on environmental and social issues[48] - The report adheres to the ESG reporting guidelines set by the Hong Kong Stock Exchange, ensuring accuracy and consistency in disclosures[50] - The company emphasizes the importance of stakeholder engagement in assessing significant ESG issues and their impacts[51] - The company has implemented various environmental protection initiatives, including recycling programs and energy-saving measures in its offices[48] - The group reported a 71% reduction in liquefied petroleum gas energy consumption and a 37% decrease in pallet usage, reflecting its commitment to improving ESG performance[140] - The average training hours for trained employees increased by 4.3 times, with the proportion of trained employees rising by 17%[140] - The company has implemented a zero-tolerance policy regarding child labor and forced labor within its operations and supply chain[156] - Compliance with occupational health and safety regulations has been maintained, with no significant violations reported during the period[148] - The company conducts systematic checks and follows ISO45001:2018 standards to mitigate risks and enhance workplace safety[144] Market Outlook and Challenges - The company anticipates continued pressure on rental income due to high supply of new office buildings in East Kowloon and potential tenant downsizing requests[93] - The management plans to enhance marketing and property management to attract more tenants amid a challenging rental environment[93] - The company will continue to monitor market conditions and adjust its investment portfolio in response to uncertainties in the global financial market[95] - The outlook for economic recovery in Hong Kong remains cautious, with ongoing geopolitical tensions and high energy prices posing threats to global economic recovery[90] - The group’s financial performance is significantly influenced by the rental levels and occupancy rates of its properties, with potential risks from government policy changes affecting rental income[130] - The investment portfolio's market value fluctuations can have a substantial impact on the group's profitability, necessitating close monitoring of overall investment sentiment[132] Employee Statistics - As of March 31, 2023, the group employed 39 staff, an increase from 36 staff in the previous year, with total employee costs amounting to HKD 18,836,000, up from HKD 16,796,000 in 2022[126] - The total number of female employees increased from 16 in 2022 to 18 in 2023, while male employees increased from 20 to 21[190] - The employee turnover rate by gender showed 0.0% for females and 4.8% for males, compared to 15.0% and 18.8% respectively in the previous year[187]
安全货仓(00237) - 2023 - 年度财报