Financial Performance - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% growth compared to the previous year[1]. - The company reported a net profit margin of 12%, up from 10% in the previous year, indicating improved operational efficiency[1]. - Cash flow from operations increased by 18%, totaling $80 million, providing a strong liquidity position for future investments[1]. - The Group's consolidated revenue was approximately HK$1,386,800,000, representing a slight increase of approximately 2.7% compared to HK$1,349,996,000 in 2021[37]. - Non-gaming revenue for the year was approximately HK$1,340,673,000, an increase from approximately HK$1,261,392,000 in 2021, while gaming revenue decreased to approximately HK$46,127,000 from HK$88,604,000 in 2021[37]. - The loss attributable to the owners of the parent decreased substantially to approximately HK$216,911,000, down from approximately HK$1,055,766,000 in 2021, marking a reduction of approximately 79.5%[43]. - The basic and diluted loss per share attributable to owners of the parent was HK5.13 cents, compared to HK26.84 cents in 2021[43]. - The Group's total liabilities decreased to approximately HK$1,938,639,000 as of December 31, 2022, down from HK$2,699,637,000 in 2021[92]. - The gearing ratio improved to 19.3% as of December 31, 2022, compared to 23.5% in 2021, indicating a stronger capital structure[92]. Market Expansion and Strategy - The company provided an optimistic outlook for the next fiscal year, projecting a revenue growth of 25%[1]. - New product launches are expected to contribute an additional $100 million in revenue, with a focus on innovative technology solutions[1]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[1]. - The Company is exploring potential acquisitions to enhance its market position and diversify its offerings[33]. - Market expansion efforts include entering D new regions, which are anticipated to drive further growth[33]. - The Group plans to re-evaluate its strategic plans in response to the easing of travel restrictions in early 2023, while acknowledging ongoing challenges[66]. - The Group is exploring opportunities for developing an integrated resort in the Philippines, with an extension granted by PAGCOR to fulfill documentary requirements[67]. Operational Developments - A strategic acquisition of a local competitor was completed, valued at $50 million, aimed at enhancing operational capabilities[1]. - The Company has invested $10 million in research and development for new technologies to improve service delivery[1]. - The Company is investing in new technology development, with a budget allocation of $C million aimed at improving operational efficiency[33]. - The construction plan for a new hotel in Jeju Shinhwa World has been suspended, with a strategic shift towards property development[72]. - A new residential development in zone R of Jeju Shinhwa World is expected to commence construction in 2023 and be completed in 2024, potentially broadening the Group's income stream[72]. Governance and Management - The Board does not recommend the payment of a final dividend for the year, consistent with the previous year where no dividend was declared[142]. - The Company has established mechanisms for independent views to be available to the Board, including the appointment of independent non-executive directors to board committees[160]. - The Nomination Committee assesses the independence of independent non-executive directors annually to ensure they can exercise independent judgment[160]. - The Company adheres to the corporate governance code and has adopted all principles outlined in the Listing Rules[152]. - The Audit Committee consists of three independent non-executive Directors, with responsibilities including reviewing the Group's financial statements and monitoring the external auditor's performance[188]. - The Company has adopted a board diversity policy, considering factors such as gender, age, and professional experience in director appointments[173]. - The Nomination Committee is responsible for nominating suitable candidates for the Board, ensuring a balance of skills and diversity[180]. Risks and Challenges - Rising interest rates and geopolitical tensions are expected to impact economic activity, prompting the Group to maintain a cautious approach to capital commitments[68]. - The tourism industry in South Korea is influenced by global economic conditions, which could adversely affect Jeju Shinhwa World's operations and profitability[77]. - Rising labor costs and potential labor shortages may increase staff costs and negatively impact the Group's profitability[77]. - Project cost overruns and delays due to unforeseen factors could lead to additional project costs for the Group[82]. - The outbreak of infectious diseases may severely impact visitation to the Group's attractions, affecting operational performance[82]. - Changes in government regulations and policies in property development could significantly affect the Group's development plans and budgets[88]. - Environmental risks and liabilities could result in substantial costs for the Group due to health and environmental protection laws[88]. - Volatile real estate prices, influenced by various economic factors, could affect the Group's turnover and operations[88]. Employee and Community Engagement - As of December 31, 2022, the Group had approximately 1,418 employees, an increase from 1,364 in 2021, with total staff costs amounting to approximately HK$469,015,000, down from HK$540,537,000 in 2021, reflecting a reduction of about 13.2%[129]. - The Company aims to promote potential female staff to senior management or directorship positions[174]. - As of the report date, 2 out of 8 Directors are female, with a target to maintain this level of female representation and ultimately achieve gender parity[174].
神话世界(00582) - 2022 - 年度财报