Financial Performance - For the year ended December 31, 2021, the Group's turnover from continuing operations increased by approximately 23% to approximately HK$170 million, compared to approximately HK$138 million for the year ended December 31, 2020[14]. - The gross profit margin from continuing operations for the Reporting Year was approximately 54%, compared to approximately 44% in the Corresponding Year[15]. - The overall loss attributable to owners of the Company was approximately HK$103 million, compared with HK$25 million in the Corresponding Year[15]. - Revenue from the investment in financial instruments segment improved from a loss of HK$4 million in FY20 to a gain of HK$34 million in the Reporting Year[20]. - Revenue from the Chinese health product segment increased slightly from HK$112 million in FY20 to HK$114 million in the Reporting Year[20]. - Revenue from the money lending segment decreased from HK$30 million in FY20 to HK$22 million in the Reporting Year[20]. - The Group recorded a loss attributable to shareholders of approximately HK$103 million in FY21, compared to a loss of approximately HK$25 million in FY20[94]. - The Group recorded a loss of approximately HK$15 million from changes in the fair value of financial assets at fair value through profit or loss in FY21, compared to a loss of HK$5 million in FY20[41]. Investment and Financial Instruments - The net realised and unrealised gains on investment of financial instruments were HK$18 million for FY21, compared to net losses of HK$10 million in FY20[21]. - The investment in financial instruments generated a net gain of approximately HK$34 million in FY21, compared to a net loss of approximately HK$4 million in FY20, resulting in a segment profit of approximately HK$17 million[41]. - The total value of listed equities held by the Group decreased from HK$107.7 million at the beginning of FY21 to HK$59.3 million at the end of FY21, reflecting a loss of HK$48.5 million from disposals[43]. - The Group's significant Hong Kong listed equities include Huanxi Media Group Limited, which had a fair value loss of HK$3.256 million during FY21[46]. Credit Loss and Loan Receivables - The expected credit loss provision on loan receivables increased from HK$49 million in FY20 to HK$103 million in the Reporting Year[21]. - The allowance for expected credit loss (ECL) on loan receivables increased to HK$162 million, a rise of HK$103 million compared to FY20, with HK$155 million recognized for loans classified under stage 3 (credit-impaired)[32]. - The increase in ECL allowance was primarily attributed to the adverse impact of the COVID-19 pandemic on customers' financial conditions and cash flows[36]. - The Group's expected credit loss provisions for receivables have significantly increased due to the adverse financial impact of the COVID-19 pandemic on several clients[39]. - The Group's loan receivables amounted to HK$301 million, an increase from HK$282 million as of December 31, 2020[37]. - The Group granted seven new loans totaling HK$100 million and extended repayment dates for two loans totaling HK$41 million during FY21[29]. - At the end of the Reporting Year, nine loans remained outstanding, with six classified under stage 1 (initial recognition) totaling HK$132 million and three classified under stage 3 (credit-impaired) totaling HK$169 million[34]. Operational Metrics - The Group's online sales channel through "HKTVmall" reported a turnover growth of over 12% during the Reporting Year[55]. - The debtor turnover days improved to 12 days in FY21 from 18 days in FY20[106]. - The Group's total borrowings were approximately HK$12 million as of 31 December 2021, down from HK$20 million as of 31 December 2020[70]. - The current ratio of the Group was approximately 168% as of 31 December 2021, a decrease from 578% as of 31 December 2020[70]. - The Group's shareholders' fund decreased from approximately HK$296 million as of December 31, 2020, to approximately HK$193 million as of December 31, 2021, due to operating losses[70]. Corporate Governance - The Board comprises six Executive Directors and three Independent Non-executive Directors, with no relationships among them[161]. - All Directors confirmed compliance with the Model Code for Securities Transactions during the year ended December 31, 2021[159]. - The Company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with defined written terms of reference[176]. - The Company has adopted corporate governance policies in line with the Hong Kong Stock Exchange Listing Rules[158]. - The Board is responsible for monitoring management performance and approving financial statements and annual budgets[160]. Future Outlook and Strategy - The Group plans to establish another solely operated "Nam Pei Hong Overseas Flagship Shop" in Tmall Global in 2022 to enhance brand awareness in China[57]. - The Group aims to diversify revenue sources through investments and acquisitions of promising businesses or projects[65]. - The Group's money lending business is expected to face a difficult environment due to the ongoing COVID-19 pandemic[63]. - The Group's operations rely on support from suppliers and financial institutions, with sufficient working capital expected for the next twelve months barring unforeseen circumstances[127].
中国智能健康(00348) - 2021 - 年度财报