Financial Performance - Revenue for 2022 was approximately HK$114.8 million, with a gross profit of approximately HK$12.4 million[18]. - Loss attributable to owners of the Company was approximately HK$287.1 million, primarily due to a fair value loss on overseas listed equity securities of approximately HK$174.1 million[18]. - Revenue from the travel business segment decreased by approximately 24% to approximately HK$112.1 million, while gross profit margin increased from 3.8% to 8.7%[18]. - The property investment business generated revenue of approximately HK$2.6 million, with a segment loss of approximately HK$15.9 million due to fair value losses on investment properties[18]. - Adjusted EBITDA loss was approximately HK$46.2 million, excluding interest income from bank deposits[18]. - Revenue for the year ended December 31, 2022, was HK$114,778,000, a decrease of 24% from HK$151,130,000 in 2021[21]. - The loss attributable to owners of the Company for 2022 was HK$287,072,000, compared to a profit of HK$4,859,000 in 2021[21]. - Total assets decreased to HK$1,271,157,000 in 2022 from HK$1,388,830,000 in 2021, representing a decline of approximately 8.4%[23]. - Total liabilities increased significantly to HK$551,792,000 in 2022, up from HK$381,185,000 in 2021, marking an increase of about 44.8%[23]. Tourism and Market Recovery - The reopening of China's border in January 2023 is expected to accelerate economic recovery and boost global growth[28]. - On January 8, 2023, Macau recorded over 39,600 inbound tourists, representing a 154% increase from the average daily visitor arrivals in 2022[31]. - The number of international tourists in 2022 doubled to over 900 million compared to 2021, with forecasts suggesting a return to 80% to 95% of pre-pandemic levels in 2023[37]. - The Macau New Gaming Concessions awarded in late 2022 are expected to enhance the city's status as a world-class international tourism destination[28]. - The Group aims to improve operational efficiency and optimize product offerings to capture ongoing market recovery opportunities[28]. - The Group is focused on improving operational efficiency and optimizing product and service offerings to capture ongoing market recovery[54]. - The international tourist arrivals in 2022 doubled compared to 2021, reaching over 900 million, with expectations of returning to 80%-95% of pre-pandemic levels in 2023[39]. - The ongoing development of the Greater Bay Area Initiative is expected to support Macau's position as a global tourism destination[138]. - The Group intends to leverage its experience in the entertainment and tourism sectors to capture rising demand in the tourism industry[132]. - The Group will focus on designing travel packages and local tours to cater to diverse interests of retail travelers in the post-pandemic era[134]. Corporate Governance - The Board consists of six members, including two executive directors and three independent non-executive directors, ensuring a balanced structure and diverse perspectives[151]. - The Chairman and Deputy Chairman roles are segregated to maintain a balance of power and authority within the Board[154]. - Independent non-executive directors (INEDs) represent half of the Board and are members of key committees, ensuring independent views are available[158]. - The Nomination Committee assesses the independence of INEDs annually to ensure they can exercise independent judgment[163]. - No equity-based remuneration is granted to INEDs to avoid bias in their decision-making[164]. - The Board meets regularly throughout the year, with notices given at least 14 days in advance for all regular meetings[171]. - The Company Secretary assists in preparing meeting agendas, ensuring all directors are consulted on included matters[171]. - The Board will review the implementation and effectiveness of governance mechanisms annually[166]. - The Company has established mechanisms to ensure independent views are available to the Board, categorized into four aspects[157]. - The INEDs can seek independent advice from external professional advisers at the Company's expense when necessary[165]. Audit and Risk Management - The Audit Committee is chaired by Mr. Chin Wing Lok, Ambrose, who possesses the required professional accounting qualifications[185]. - The Audit Committee's primary duties included monitoring the integrity of financial statements and ensuring the credibility of financial reporting[189]. - The Board has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Executive Committee to oversee specific aspects of the Company's affairs[184]. - The Audit Committee held three meetings during the year, with attendance recorded as 3/3 for the Chairman and two other members attending 2/3[192]. - The effectiveness of the Risk Management and Internal Control Systems was reviewed, including the adequacy of resources and staff qualifications[196]. - The Company considered the re-appointment of External Auditors and discussed their engagement terms, including proposed fees[194]. - A detailed Whistleblowing Policy was established to allow employees and third parties to raise concerns confidentially about misconduct[194]. - The Company reviewed its compliance with the Corporate Governance Code and the disclosures in the corporate governance report[196]. - The Audit Committee considered engaging an external independent consultant for internal audit functions for the year ended December 31, 2022[194]. Employee and Operational Insights - The Group had a total of 68 employees as of December 31, 2022, with remuneration based on qualifications and performance[128]. - The Company provides monthly updates to all Directors regarding the Group's performance, financial position, and prospects[177]. - All Directors participated in training covering corporate governance, business transaction management, and applicable laws[180]. - The Board has a procedure for Directors to seek independent professional advice at the Company's expense[179]. - The Company encourages Directors to attend relevant training to enhance their knowledge and skills[182]. - The Group plans to optimize its investment property portfolio to create long-term value for stakeholders as the market continues to recover[139]. Investment and Market Strategy - The Group is actively assessing investment options to diversify risks and hedge against inflation[40]. - The Group maintains a positive outlook for the long-term prospects of the commercial property market in Hong Kong despite recent market challenges[78]. - The property market in Hong Kong is expected to be impacted by high interest rates in the short term, but the reopening of borders is anticipated to support recovery in commercial property demand[135]. - The company plans to regularly review its investment strategy in response to market changes[112]. - The Group is committed to maintaining corporate agility and resilience through prudent capital management as it aims for a full recovery[132]. Tesla Investment Insights - Tesla's total revenues for the year ended December 31, 2022, increased by approximately 51% to approximately USD 81,462 million compared to USD 53,823 million in the previous year[104]. - Net income attributable to common stockholders for the year ended December 31, 2022, rose by approximately 1.3 times to approximately USD 12,556 million, up from USD 5,519 million in 2021[104]. - A fair value loss of approximately HK$ 174.1 million was recognized for the year ended December 31, 2022, compared to a fair value gain of approximately HK$ 87.7 million in 2021[112]. - The investment in Tesla represented approximately 0.003% of the total common stock held as of December 31, 2022, with a fair value of approximately HK$ 93 million[104]. - The ongoing global supply chain challenges, including semiconductor shortages and labor shortages, have impacted Tesla's production and delivery capabilities[108]. - Tesla's Gigafactory Shanghai experienced temporary shutdowns due to spikes in COVID-19 cases, affecting its ability to deliver cars[109]. - Rising interest rates may lead to reduced consumer spending on Tesla's products, potentially harming demand and operating results[111]. - Tesla declared a three-for-one stock split in August 2022, which was executed in the form of a stock dividend[112]. - The company continues to monitor macroeconomic conditions to remain flexible and optimize its business operations[111].
实德环球(00487) - 2022 - 年度财报