Financial Performance - The Group suffered a net loss during the Reporting Period due to the impact of COVID-19 and unfavorable market conditions, with the Hang Seng Index falling by 15.46% in 2022[17]. - For the year ended December 31, 2022, the Group recorded a revenue of approximately HK$4,552,000, representing a decrease of approximately 40.9% compared to approximately HK$7,696,000 in the prior year[28]. - The Group recorded a realized loss of approximately HK$1,168,000 on listed securities and a fair value loss of approximately HK$37,578,000 during the Reporting Period[28]. - The net assets of the Group decreased by approximately 18.08% to approximately HK$118,301,000 as of December 31, 2022, down from HK$144,403,000 in the prior year[30]. - The Group's borrowings as of December 31, 2022, were approximately HK$14,162,000, a decrease from HK$21,310,000 in 2021, resulting in a gearing ratio of 11.88%[35]. - The Group's unlisted investments were approximately HK$98,858,000 as of December 31, 2022, down from HK$103,782,000 in the previous year[29]. - The Group had available funds of approximately HK$4,270,000 as of December 31, 2022, primarily held in banks and licensed securities firms[34]. - Impairment losses of various loan notes recognized during the Reporting Period were approximately HK$432,000, a decrease from HK$1,801,000 in the prior year[28]. - The financial assets at fair value through profit or loss decreased from approximately HK$61,938,000 in 2021 to approximately HK$54,202,000 in 2022[30]. - The Group did not have any capital expenditure commitment as of December 31, 2022[36]. Investment Strategy - The Company plans to focus on investing in trading securities, private equity funds, and private enterprises with potential prospects in 2023[19]. - The Group will implement timely and appropriate investment strategies to enhance its investment portfolio and achieve net asset appreciation[19]. - The Company will seek investment opportunities in China, Hong Kong, and overseas markets[19]. - The Company aims to strengthen existing businesses and focus on financing future investment opportunities domestically and internationally to maximize shareholder value[48]. - The expected timetable for fully utilizing unutilized net proceeds is subject to change based on current market conditions and future developments[45]. External Factors - The Company will continue to monitor external factors such as the ongoing COVID-19 pandemic and the Russo-Ukrainian War, which are expected to affect financial performance[18]. - The external environment remains a significant factor influencing the Group's financial performance and operational results[18]. - The Group's financial position will be closely evaluated in light of ongoing global economic challenges[18]. Employee Contributions and Policies - The Company acknowledges the invaluable contributions of its employees in navigating these challenges[25]. - The remuneration policy ensures competitive pay levels to attract and retain employees, with no director involved in deciding their own remuneration[80]. - The Group has established a Remuneration Committee to regularly review its remuneration policy, ensuring that compensation packages are competitive and appealing to employees[175][180]. - The Group emphasizes equal opportunities in recruitment, training, and development, ensuring no discrimination based on gender, ethnicity, or other prohibited factors[191][196]. - The Group's employee benefits include office insurance, employee compensation insurance, and discretionary bonuses to enhance employee loyalty[195]. ESG Commitment - The Group's ESG Report outlines its commitment to sustainable development and summarizes its ESG initiatives and performances for the financial year ended 31 December 2022[98]. - The Group emphasizes strong corporate governance to attract investment and enhance shareholder value, committing to high standards of business ethics[110]. - The Board is responsible for monitoring the Group's ESG issues and conducts materiality assessments to prioritize significant ESG-related issues based on stakeholder feedback[117]. - The ESG Taskforce, comprising the management team, collects and analyzes ESG data, ensuring compliance with relevant laws and preparing ESG reports[118]. - The Group aims to improve the quality of communities and the environment, providing long-term returns to stakeholders through sustainable business practices[115]. Environmental Performance - The Group aims to reduce GHG emissions intensity by 5% through a 3-Year Plan, using FY2021 as the baseline[137]. - Scope 2 indirect GHG emissions decreased from 5.81 tCO2 in 2021 to 2.31 tCO2 in 2022, representing a reduction of approximately 60%[138]. - Total GHG emissions decreased from 7.36 tCO2 in 2021 to 4.35 tCO2 in 2022, a reduction of about 41%[138]. - GHG emissions intensity improved from 0.42 e/mil rev tCO2 in 2021 to 0.32 e/mil rev tCO2 in 2022, indicating enhanced operational efficiency[138]. - The Group did not record any Scope 1 direct GHG emissions due to the absence of machinery and vehicles[132]. - Non-hazardous waste generated was primarily paper waste, with initiatives in place to reduce paper usage as part of decarbonization efforts[141]. - The Group reported no significant non-compliance with laws and regulations regarding emissions and waste management during the year[130]. - The Group's business operations did not generate hazardous waste, aligning with its office-based operational model[141]. - The Group's sewage discharge was minimal, with used water directed to municipal sewage networks[140]. - The Group's commitment to sustainability is integrated into its business strategy, focusing on minimizing carbon footprint and enhancing resilience to climate-related risks[129]. Market and Competitor Analysis - Tencent's net profit for the nine months ended September 30, 2022, was approximately RMB 81,805 million, a decrease from RMB 132,105 million in the same period last year, primarily due to reduced other gains and increased administrative expenses[62]. - The equity attributable to Tencent's equity holders as of September 30, 2022, was approximately RMB 755,920 million[62]. - Alibaba reported a net loss of approximately RMB 2,169 million for the six months ended September 30, 2022, compared to a net income of approximately RMB 46,212 million for the same period last year[67]. - RHCO's net income for the three months ended September 30, 2022, was approximately US$54,000, with a net asset value of approximately US$17.2 million[68]. - Winchester reported a net loss of approximately US$0.1 million for the nine months ended September 30, 2022, with net assets of approximately US$50,000[63]. - The Board believes that RHCO has growth engines that will positively impact its financial performance in the coming years[68]. - The Board expects that the leading position of Tencent will allow it to benefit from the prosperity of the internet industry[62]. - The Board considers the exclusive selling rights of Fiat Professional for Winchester as a catalyst for its growth[63]. - SMIC reported revenue of approximately USD 3,745 million and profit of USD 1,198 million for the six months ended 30 June 2022[74]. - JD.com achieved net revenue of approximately RMB 239.7 billion, with an operating income of RMB 2.4 billion and a net loss attributable to ordinary shareholders of RMB 3.0 billion for the three months ended 31 March 2022[75]. - The Group did not receive any dividends from SMIC during the reporting period, consistent with the previous year[74]. - The Group received a net dividend of approximately HK$ 4,000 from JD.com during the reporting period[75]. Employee Statistics - As of December 31, 2022, the Group employed a total of 2 full-time employees, maintaining the same number as the previous year[79]. - The Group's total number of employees decreased from 3 in 2021 to 2 in 2022, with a turnover rate of 33% due to 1 employee leaving during the year[178][183]. - As of December 31, 2022, all employees were male, with 100% of the workforce being above 45 years old[178][182].
中国天弓控股(00428) - 2022 - 年度财报