Financial Performance - The group's consolidated revenue decreased from approximately HKD 5,900,000 in 2020 to approximately HKD 3,200,000 in 2021, representing a decline of 45.8%[10] - The net loss attributable to the company's owners for the year was approximately HKD 39,900,000, compared to a loss of approximately HKD 85,600,000 in 2020[6] - The group's net loss for the year was approximately HKD 49,500,000, a reduction of approximately HKD 139,200,000 from the previous year's loss of approximately HKD 188,700,000[11] - The financing leasing and loan services, as well as property investment business, recorded total revenue of approximately HKD 3,200,000, a decrease of about 45.8% due to reduced project numbers[12] - The loss from the PPP primary land development business decreased to approximately HKD 18,600,000, down from approximately HKD 241,500,000 in 2020, primarily due to no impairment losses recorded this year[14] Debt and Cash Position - The total debt of the group as of December 31, 2021, was approximately HKD 1,307,500,000, an increase from HKD 1,268,800,000 in 2020[19] - Cash and bank balances were approximately HKD 28,800,000, down from HKD 39,700,000 in 2020[19] - The net debt amounted to approximately HKD 1,278,700,000, compared to HKD 1,229,100,000 in 2020[19] - The capital-to-debt ratio was 171.9%, slightly up from 169.0% in 2020[19] Corporate Governance - The board did not recommend the payment of a final dividend for the year[21] - The company has maintained compliance with relevant laws and regulations without any significant breaches reported during the year[57] - The board consists of six directors, including three executive directors and three independent non-executive directors[101] - The company has complied with the Corporate Governance Code, except for certain provisions regarding the separation of roles between the chairman and CEO[98] - The board has established clear responsibilities for management and regularly reviews these to ensure compliance with regulations[104] Employee and Training - The total employee cost for the year was approximately HKD 8,600,000, compared to HKD 8,000,000 in 2020[22] - The company actively encourages and funds employees to participate in external relevant skills training courses and seminars to enhance their capabilities[58] - The average training hours for male employees was 10.00 hours, while for female employees it was 30.93 hours during the reporting period[194] - The percentage of employees receiving training was 21.43% for males and 46.67% for females in 2021[194] Legal and Compliance Issues - The group is currently awaiting a hearing notice regarding an appeal submitted to the High People's Court in June 2020[28] - The group has initiated mediation with the Fuzhou City Government regarding a dispute related to a land development project[28] - The company has recognized a provision for impairment of approximately HKD 26.7 million, which is 30% of the total book value of HKD 89 million for the receivable notes[36] - The audit committee has reviewed the basis for the audit qualifications and agrees with the auditors' concerns regarding the recoverability of receivables[40] Environmental, Social, and Governance (ESG) - The company’s environmental, social, and governance (ESG) report is aligned with the guidelines set by the stock exchange, reflecting its commitment to sustainability[56] - The company reported a focus on environmental, social, and governance (ESG) policies, aiming to balance business expansion with stakeholder interests[147] - The company has set multiple environmental and social key performance indicators (KPIs) to reduce greenhouse gas emissions and improve employee welfare[154] - The company emphasizes energy conservation and compliance with environmental regulations to reduce pollution and environmental risks[168] Customer Relations - The group emphasizes customer satisfaction as crucial for sustainable development and long-term business growth, adhering to core values of strictness, regulation, prudence, integrity, and innovation[198] - No complaints regarding service were received during the reporting period, indicating a strong focus on customer service quality[198] - The group maintains strict confidentiality of customer data, ensuring no unauthorized disclosure to third parties[198] Shareholder Information - The company reported that the total number of issued shares as of December 31, 2021, was 5,943,745,741 shares, with no new shares issued compared to December 31, 2020[66] - The board does not recommend the payment of a final dividend for the year, consistent with the previous year where no dividend was paid[60] - The company has no available reserves for distribution as of December 31, 2021, according to the Companies Ordinance[68]
幸福控股(00260) - 2021 - 年度财报