Financial Performance - The company reported a consolidated loss attributable to shareholders of approximately HKD 746 million for the fiscal year ending March 31, 2022, compared to a profit of HKD 622 million in the previous year[23]. - Revenue for the fiscal year was HKD 990 million, reflecting a 1% increase from HKD 977 million in the previous year[18]. - The company recorded a loss attributable to shareholders of HKD 746 million, compared to a profit of HKD 622 million in the same period last year[30]. - Total revenue for the fiscal year ending March 31, 2022, was HKD 990 million, a 1% increase compared to the previous year[30]. - Gross profit remained stable at HKD 949 million, compared to HKD 950 million in the previous year, indicating a marginal decrease of 0.1%[56]. - Total assets decreased to HKD 9,114 million from HKD 12,110 million, reflecting a reduction of 24.7% year-over-year[56]. - Total liabilities slightly decreased to HKD 6,931 million from HKD 7,032 million, a reduction of 1.4%[56]. - The revalued total asset value was HKD 17,884 million, down from HKD 20,776 million, indicating a decrease of 13.8%[56]. Debt and Liquidity - The net debt increased by 16% to HKD 5,861 million from HKD 5,054 million in the previous year[18]. - The asset-liability ratio increased to 54%, up 17% from 37% in the previous year[18]. - The group's net debt to revalued net asset ratio increased to 54% from 37% a year earlier[48]. - The total debt amounted to HKD 6,213 million, with 93% or HKD 5,806 million denominated in HKD, and 16% of the bank loans were revolving loans[47]. - As of March 31, 2022, the group had approximately HKD 2.8 billion in cash and unutilized bank financing[44]. - The company aims to maintain a strong liquidity position and good financial health through prudent financial management policies[28]. Real Estate Development - The company plans to complete the Landmark on Robson development project in Vancouver by the end of 2023, with the concrete structure topped out in May 2022[23]. - The total floor area of the "Landmark on Robson" residential development project in Vancouver is approximately 400,000 square feet, with a total sales contract amount of approximately CAD 180 million as of March 31, 2022[38]. - The company is actively seeking quality and large residential development opportunities in Vancouver to enhance its real estate business[28]. Hotel Business Performance - The hotel business performance improved as two hotels in Causeway Bay became quarantine hotels from September 2021, with further expansion expected in the coming months[23]. - Hotel occupancy rate and average room rate increased by 20% and 38% respectively, leading to a revenue growth of approximately 162%[37]. - The company plans to expand its hotel business in prime locations in Hong Kong, targeting business travelers and visitors from mainland China[28]. Sustainability and Environmental Impact - The company emphasizes integrating ESG principles into operations, aiming for long-term sustainability and stakeholder engagement[62]. - The total greenhouse gas emissions for the fiscal year 2022 amounted to 9,417 tons, an increase from 7,736 tons in 2021, primarily due to higher energy demand from increased hotel occupancy rates[79]. - The total direct energy consumption for 2022 was 13,206,000 kWh, up from 10,779,000 kWh in 2021, reflecting a significant increase in energy usage[83]. - The company achieved a 10% reduction in direct energy intensity and a 19% reduction in water intensity compared to the previous fiscal year[82]. - The company has implemented energy-saving measures and upgraded equipment to enhance resource efficiency, contributing to sustainability goals[82]. Employee Management - Total employee turnover rate for the fiscal year ending March 31, 2022, was approximately 45%[98]. - Employee training programs included health and safety, food safety, and COVID-19 prevention, with over 30% of operational staff receiving extensive training[106]. - The company provided medical insurance and competitive benefits to ensure employee health and safety[100]. - The company employed 186 full-time and 3 part-time employees, with 184 based in Hong Kong and 5 in Canada[96]. Corporate Governance - The board consists of six executive directors and three independent non-executive directors, ensuring governance standards are maintained[138]. - The company confirmed its responsibility for preparing financial statements based on the going concern basis, ensuring no significant uncertainties affecting its ability to continue operations[141]. - The board has reviewed corporate governance policies and practices, ensuring adherence to legal and regulatory requirements[141]. - The company is committed to maintaining gender diversity in its board composition, planning to appoint at least one female director as per listing rules[143]. Community Engagement - The group donated a total of HKD 482,000 to various charitable organizations during the reporting year[134]. - The group has received the "Caring Company" logo from the Hong Kong Council of Social Service for its community care initiatives[129]. - The group is committed to corporate social responsibility, focusing on urgent social issues and contributing to the well-being of vulnerable groups[126].
泛海酒店(00292) - 2022 - 年度财报