Financial Performance - Wah Ha Realty Company Limited reported a significant increase in revenue, reaching HKD 1.2 billion, representing a 15% year-over-year growth[2]. - The company’s net profit for the year was HKD 300 million, which is a 10% increase compared to the previous year[2]. - Earnings per share for the year was HKD 0.32, up from HKD 0.03 in the previous year[27]. - The profit attributable to equity holders for the year ended March 31, 2022, was HKD 38,980,362, compared to HKD 3,065,225 in 2021, representing a significant increase[24]. - Total revenue for the group was HKD 7.8 million, a decrease of approximately 14.9% compared to the previous year, primarily due to reduced interest and rental income[26]. - The group recognized a fair value profit of HKD 3 million from investment properties, compared to a fair value loss of HKD 29 million in the previous year[27]. - The group recorded a realized profit of HKD 14 million from the sale of properties, whereas no such profit was recorded in the previous year[27]. Dividends and Shareholder Returns - The board has approved a dividend payout of HKD 0.10 per share, reflecting a commitment to returning value to shareholders[2]. - The total dividend proposed for the year is HKD 0.34 per share, consistent with the previous year[25]. - The company proposed a final dividend of HKD 0.11 per share and a special dividend of HKD 0.12 per share for the year ended March 31, 2022, maintaining the same levels as 2021[46]. - The total dividend for the year amounts to HKD 0.34 per share, consistent with the previous year[46]. - The company’s distributable reserves as of March 31, 2022, were HKD 279,110,918, a decrease from HKD 303,848,415 in 2021[55]. Market and Growth Strategy - User data indicated a 20% increase in property management clients, totaling 5,000 clients by the end of the fiscal year[2]. - Future outlook includes a projected revenue growth of 12% for the next fiscal year, driven by new property developments[2]. - Market expansion plans include entering two new regions in Hong Kong, aiming to increase market share by 5%[2]. - Wah Ha Realty is considering strategic acquisitions of smaller property management firms to bolster its portfolio[2]. - The company has launched a new eco-friendly residential project, expected to generate HKD 500 million in sales[2]. - A new marketing strategy focusing on digital platforms is anticipated to increase customer engagement by 30%[2]. Economic Environment - The local economy is facing uncertainty due to the ongoing COVID-19 pandemic, with GDP and private consumption showing negative growth of 4% and 5.5% respectively in Q1 2022[34]. - The group plans to prudently utilize its resources to ensure sustainable returns for shareholders amid economic challenges[34]. - The group’s rental business has been adversely affected, with a reduction in contributions amounting to HKD 4.2 million compared to the previous year[30]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to enhance investor confidence and ensure sustainable growth[141]. - The company has adopted the updated Corporate Governance Code effective from January 1, 2022, and will fully comply in its 2023 report[142]. - All directors confirmed compliance with the standards set out in the company's securities trading code for the year ending March 31, 2022[143]. - The company has established a collective responsibility for corporate governance among board members, including reviewing policies and monitoring compliance with legal regulations[146]. - The board has adopted a diversity policy aimed at enhancing overall performance through a more diverse board composition, considering factors such as gender, age, cultural background, and professional experience[147]. Environmental, Social, and Governance (ESG) Initiatives - The group aims to achieve long-term sustainable development with a focus on reducing emissions, improving energy and water consumption efficiency, and minimizing waste[110]. - The group has implemented energy efficiency measures, such as encouraging the use of natural lighting and installing high-efficiency electrical devices, maintaining energy efficiency throughout the year[102]. - Climate change has emerged as a new risk factor, with extreme weather events potentially impacting operations and property portfolios, prompting the group to develop emergency response plans[107]. - The group has not generated any harmful waste and strives to reduce non-hazardous waste through various initiatives, enhancing employee environmental awareness[102]. - The group regularly reviews climate change impacts on operations and formulates measures to mitigate potential disruptions and achieve sustainable operations[107]. - The group has established communication channels to engage stakeholders and assess environmental, social, and governance (ESG) issues relevant to its operations[98]. Employee and Labor Practices - Employee training participation remained at 22% for both genders, with 100% of senior management receiving training[124]. - The average training hours per employee were 20.9 hours for females and 20 hours for males in 2021/22, showing a slight decrease from 20.12 hours for females in 2020/21[124]. - The company maintained a stable workforce with no employee turnover reported in both 2021 and 2022[115]. - The company has implemented flexible work arrangements in response to the COVID-19 pandemic, prioritizing employee health and safety[115]. - The company has ensured compliance with labor laws, with no significant issues reported regarding employment practices[121]. Board Structure and Meetings - The board consists of eight members, including three executive directors and five non-executive directors, ensuring a balanced mix of skills and backgrounds[150]. - The board emphasizes the importance of independent non-executive directors, with more than one-third of the members being independent, including at least one with accounting or financial management expertise[155]. - The board held four meetings in the fiscal year 2021/2022, with all directors attending all meetings[162]. - The company has established three board committees: the Nomination Committee, the Remuneration Committee, and the Audit Committee, each with defined powers and responsibilities[175]. - The company has a formal appointment letter for each director, outlining the main terms and conditions of their appointment[170].
华厦置业(00278) - 2022 - 年度财报