永泰地产(00369) - 2021 - 年度财报

Financial Performance - The company's revenue for the year ended December 31, 2021, was HKD 3,423.2 million, representing a 23% increase from HKD 2,777.8 million in 2020[33]. - The gross profit increased by 34% to HKD 1,339.6 million, up from HKD 1,000.1 million in the previous year[33]. - Core consolidated profit attributable to shareholders was HKD 683.0 million, a 50% increase compared to HKD 456.0 million in 2020[31]. - The profit attributable to shareholders for 2021 was HKD 854.4 million, a significant recovery from a loss of HKD 674.4 million in 2020[38]. - The company reported a total comprehensive income of HKD 943.8 million for the year, compared to a total comprehensive loss of HKD 566.6 million in 2020[173]. - Operating profit for the year was HKD 899.8 million, compared to an operating loss of HKD 491.5 million in the previous year[169]. - Net profit for the year was HKD 917.6 million, a significant recovery from a net loss of HKD 615.9 million in 2020[172]. - The basic earnings per share for the year was HKD 0.63, compared to HKD 0.50 in 2020[32]. - The gross profit margin improved to 39.1% in 2021 from 36.0% in 2020, reflecting better cost management[169]. Assets and Liabilities - The total assets as of December 31, 2021, amounted to HKD 38,738.5 million, a 4% increase from HKD 37,245.8 million in 2020[34]. - The total equity increased by 2% to HKD 28,165.8 million from HKD 27,641.0 million in the previous year[34]. - The total assets and liabilities as of December 31, 2021, were HKD 38,738.5 million and HKD 10,572.7 million, respectively, compared to HKD 37,245.8 million and HKD 9,604.8 million in 2020[36]. - The company's net asset value increased to HKD 28.165 billion as of December 31, 2021, compared to HKD 27.641 billion in 2020[52]. - Total bank and other borrowings amounted to HKD 6.804 billion as of December 31, 2021, up from HKD 4.38 billion in 2020[52]. - The net debt of the group was HKD 5.339 billion as of December 31, 2021, representing 19.0% of the net asset value[52]. Investment Properties - The company reported a significant improvement in fair value changes of investment properties and financial instruments, with a loss of HKD 452.3 million, compared to a loss of HKD 1,214.9 million in 2020, reflecting a 63% improvement[33]. - The investment properties portfolio had a total market fair value of approximately HKD 19,900,000,000 as of December 31, 2021, with a total area of about 1,919,000 square feet[46]. - The group recorded a fair value loss of HKD 332,000,000 on investment properties in 2021, down from a loss of HKD 985,000,000 in 2020[45]. - The group’s investment properties were recorded at a fair value of HKD 21,777,700,000 as of December 31, 2021, with a revaluation loss of HKD 527,400,000[164]. Dividends - The company declared a total dividend of 27.0 HKD cents per share for the year, unchanged from the previous year[34]. - The company proposed a final dividend of HKD 0.21 per share, maintaining the total dividend for 2021 at HKD 0.27 per share, consistent with the previous year[39]. - The board proposed a final dividend of HKD 0.21 per share for the year ended December 31, 2021, amounting to approximately HKD 366.1 million, also unchanged from the previous year[76]. Property Development - The company completed the OMA OMA project in Tuen Mun in 2021, contributing to its property development portfolio[4]. - The property development segment's revenue was HKD 2,729,000,000 for 2021, up from HKD 2,054,000,000 in 2020, driven by higher sales from the "OMA OMA" project[40]. - The group sold approximately 90% of the residential units in the "OMA OMA" project by the end of 2021, with about 87% of these units delivered to buyers[42]. - The company is focusing on the "Affordable Luxury" development strategy, continuing to sell remaining units of the "Upper Gold Coast" project[38]. Hotel Operations - The hotel business continued to incur operating losses in 2021, although the Lanson Place hotel saw improved occupancy and revenue after joining the designated quarantine hotel program[38]. - The group anticipates gradual improvement in hotel operations as the Omicron variant situation is controlled and travel restrictions are eased[55]. Corporate Governance - The company emphasizes the importance of corporate governance and compliance, with a dedicated audit committee[68]. - The board consists of five executive directors, four non-executive directors, and five independent non-executive directors, ensuring a diverse governance structure[118]. - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions for the fiscal year ending December 31, 2021[116]. - The company has implemented a risk management framework and approved the corporate governance report for the year 2020[125]. Shareholder Information - The total number of issued shares as of December 31, 2021, was 1,354,742,279 shares[85]. - The interests of directors and senior management in the company's shares amounted to a total of 480,719,751 shares, representing approximately 35.48% of the issued share capital[84]. - The largest shareholder, Crossbrook Group Limited, holds 270,411,036 shares, representing approximately 19.96% of the issued share capital[93]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting by submitting a written request to the company's registered office[156]. Risk Management - The company has implemented a whistleblowing policy to encourage employees to report misconduct confidentially, with no reports received in the current year[147]. - The board regularly assesses the effectiveness of the risk management and internal control systems, finding them to be effective and adequate[148]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[168]. - The company aims to continue selling units from the "OMA OMA" and "OMA by the Sea" projects, targeting contract completion certificates in Q4[55].