Financial Performance - Revenue for the year ended December 31, 2021, was HKD 530.6 million, a decrease of 12% from HKD 602.9 million in 2020[7] - Shareholders' profit for the same period was HKD 70.2 million, down 54% from HKD 151 million in 2020[7] - The company recorded a profit of HKD 70,200,000 for the fiscal year 2021, a decrease of 53.5% compared to HKD 151,000,000 in the previous fiscal year[42] - Total revenue for the fiscal year 2021 was HKD 530,600,000, down 12.0% from HKD 602,900,000 in fiscal year 2020, primarily due to a decline in financial investment returns[42] - Shareholders' profit for 2021 was HKD 70.2 million, down 53.5% from HKD 151.0 million in 2020[73] - Total assets as of December 31, 2021, were HKD 14,369.9 million, a decline of 15.3% from HKD 16,961.7 million in 2020[79] - Total liabilities decreased to HKD 8,914.2 million in 2021, down 16.9% from HKD 10,721.1 million in 2020[79] - Adjusted net asset value attributable to shareholders was HKD 10,509.5 million in 2021, compared to HKD 11,274.4 million in 2020, reflecting a decrease of 6.8%[79] - The total declared dividend for 2021 remained at HKD 5.0 cents per share, consistent with the previous years[73] Property Development - The company is developing a residential project "Victoria Harbour" with 1,437 units, expected to be completed by March 2023[14] - The "Victoria Harbour" project is located in a prime waterfront area in Southwest Kowloon, enhancing its market appeal[14] - The company holds a 14.5% stake in the joint venture for the "Victoria Harbour" project[14] - The company acquired an additional 4.5% stake in the West Kowloon waterfront residential project "Victoria Harbour" for HKD 413,000,000, increasing its ownership from 10% to 14.5%[38] - Over 700 units of the "Victoria Harbour" residential project have been sold, generating sales proceeds of approximately HKD 10,000,000,000[38] - The company successfully purchased a plot of land on South Bay Road for HKD 1,190,000,000, intended for development into luxury residential properties[38] - The company plans to develop a new luxury residential project on a site acquired for HKD 1,188.2 million, with a total floor area of approximately 19,055 square feet[97] Investment Properties - The investment property at 33 Old Broad Street in London has a total area of 191,165 square feet and is currently leased to the Bank of Scotland[21] - The property at 20 Moorgate in London has a total area of 154,854 square feet and is fully leased to the Prudential Regulation Authority[23] - The company’s investment properties in the UK, including 20 Moorgate and 33 Old Broad Street, have maintained rental income without any defaults during the pandemic[102] Financial Position and Strategy - The company maintains a strong financial position with approximately HKD 8,600,000,000 in available cash to ensure maximum financial flexibility[41] - The company continues to focus on property development and investment as its core business, leveraging a prudent investment strategy[30] - The company is committed to developing high-quality property assets to sustain future growth and liquidity[30] - The company plans to continue exploring new property investment and development opportunities for future growth[55] - The company aims to implement strict risk control measures and prudent financial management to seize opportunities when market conditions improve[58] - The company is optimistic about its future performance, expecting ongoing projects to generate strong cash flow in the coming years[58] Hotel Operations - The company has adjusted its hotel business strategy by participating in the government-designated quarantine hotel program to improve occupancy rates[39] - The hotel sector remains significantly impacted by the COVID-19 pandemic, with recovery dependent on the easing of travel restrictions[30] - The hotel revenue for the Hong Kong Crowne Plaza in Causeway Bay improved to HKD 119,300,000, a 166.5% increase from HKD 44,800,000 in the previous year, driven by room revenue from the designated quarantine hotel program and increased dining revenue[105] - The company successfully repositioned its hotels as quarantine hotels, generating stable income and profits[58] Corporate Governance - The board consists of seven members, including three executive directors and four independent non-executive directors, ensuring a balance of governance[127] - The company emphasizes the importance of good corporate governance and regularly reviews its practices to meet shareholder expectations and regulatory requirements[125] - Independent non-executive directors provide valuable insights and independent judgment to support the company's development and risk management[132] - The company is committed to monitoring compliance with legal and regulatory standards as part of its corporate governance responsibilities[133] - The board held four meetings during the year ending December 31, 2021, with all executive directors attending all meetings[139] - The company has adopted a board diversity policy since August 2013, emphasizing merit-based appointments while considering diversity benefits[137] - The company has implemented a policy to monitor compliance with corporate governance codes and disclose relevant information in its reports[135] Sustainability and Corporate Social Responsibility - The company has implemented energy-saving measures at its main office to reduce electricity consumption and paper usage, including setting devices to eco-friendly defaults and using LED lighting[199] - The company has adopted a climate change policy and supply chain management policy to address climate-related issues and manage environmental and social risks in its supply chain[197] - The company actively promotes material conservation and has implemented policies to reduce waste generated from its business activities[200] - The company encourages the recycling of electronic waste, including computers and printers, by sending them to recyclers[200] - The company promotes the circular use of materials such as paper, plastic bottles, and office supplies in its business operations[200] - The company has established a corporate social responsibility policy to demonstrate its commitment to environmental concerns[197]
爪哇控股(00251) - 2021 - 年度财报