Financial Performance - The group reported a loss attributable to equity holders of HKD 3,689,000 for the year ended December 31, 2022, compared to a profit of HKD 49,839,000 in 2021, indicating a significant decline in financial performance [9]. - The group faced a valuation loss of approximately HKD 11,300,000 due to the revaluation of investment properties during the reporting period [13]. - The group did not recommend any dividend payment for the year ended December 31, 2022, consistent with the previous year [166]. - As of December 31, 2022, the company's distributable reserves amounted to HKD 908,961,000, a decrease from HKD 1,248,399,000 in 2021 [183]. Market Conditions - The non-residential property market in Hong Kong saw a substantial drop in transaction volume, with office registrations falling by 38.8% to 817 transactions, industrial property registrations down by 34.3% to 2,501 transactions, and retail property registrations decreasing by 34.2% to 1,176 transactions in 2022 [11]. - The overall economic environment in Hong Kong was adversely affected by COVID-19 restrictions, leading to a 3.5% decline in local GDP and a significant impact on the retail sector [10]. - The Hong Kong non-residential property market is gradually recovering, driven by factors such as the reopening of borders with mainland China and the local economic recovery [14]. - The group anticipates an improvement in the non-residential property market performance in 2023, despite ongoing market risks such as rising interest rates [18]. Business Strategy - The group's lending business, Junlian Credit Limited, experienced growth in both revenue and operating profit despite the challenging economic environment, demonstrating resilience in its financial performance [13]. - The group plans to capitalize on property investment opportunities during the market adjustment period by acquiring properties at lower prices to strengthen its investment portfolio [13]. - The group plans to enhance property rental rates and occupancy to improve returns on its property investment portfolio [18]. - The group aims to deepen collaboration with related companies to increase referral commissions from residential unit sales [18]. - The group expects an increase in loan demand as the local economy recovers [18]. Corporate Governance - The board consists of eight members, including four executive directors and four independent non-executive directors [37]. - The company emphasizes integrity, transparency, accountability, and independence in its corporate governance practices [32]. - The company has been compliant with the corporate governance code as per the Hong Kong Stock Exchange's listing rules throughout the year ending December 31, 2022 [33]. - The company has established a written mechanism to ensure the board receives independent views and advice when necessary [35]. - The company has arranged appropriate liability insurance for its directors to cover responsibilities arising from corporate activities [36]. Stakeholder Engagement - The company engages with various stakeholders through multiple channels, including annual general meetings and surveys, to understand their expectations and needs [107]. - The company emphasizes the importance of stakeholder feedback to continuously improve its environmental, social, and governance (ESG) management and performance [96]. - The company has established procedures for shareholders to propose candidates for the board of directors, which are published on its website [83]. - The company allows qualified shareholders to request the board to convene a special general meeting if they hold at least 10% of the paid-up capital [80]. Environmental, Social, and Governance (ESG) Initiatives - The company received the "Waste Reduction Certificate (Good Level)" and "Energy Saving Certificate (Good Level)" from the Environmental Campaign Committee, recognizing its contributions to environmental protection [86]. - The company has been awarded the "Caring Company" logo for 16 consecutive years by the Hong Kong Council of Social Service, acknowledging its commitment to social care [89]. - The company provided over 100 food packages to low-income families in collaboration with St. James' Settlement to assist those affected by the pandemic [90]. - The company emphasizes environmental management and compliance with applicable environmental laws and regulations, aiming to minimize its carbon footprint [130]. Employee Relations and Development - The company emphasizes a people-centric approach in its human resources strategy, ensuring a respectful and productive work environment [119]. - The company has a zero-tolerance policy towards any form of harassment and strictly enforces anti-discrimination policies [120]. - The company organizes various employee activities and wellness programs to foster a harmonious workplace and enhance team collaboration [120]. - The company has established clear career growth paths and conducts semi-annual and annual evaluations based on various performance factors [125]. Risk Management - The board is responsible for establishing effective risk management and internal control systems to manage risks rather than eliminate them [70]. - The risk committee assists the board in determining the group's risk levels and management strategies [70]. - The company has established arrangements for stakeholders to raise concerns regarding financial reporting and internal controls [51]. - The company is committed to monitoring and evaluating its diversity policy to ensure its effectiveness [59]. Community Engagement - The group focuses on community investment in areas such as education, environment, and health [173]. - The company donated over HKD 154,000 to the Hong Kong Charity Fund to support local community development [141]. - The company actively participated in community activities, including the "Smoke-Free Hiking" event, promoting a healthy lifestyle and environmental protection [91].
鋑联控股(00459) - 2022 - 年度财报