Financial Performance - The company's profit attributable to shareholders for the year ended December 31, 2021, was HKD 654 million, an increase of 96.9% compared to the previous year[11]. - Earnings per share for 2021 were HKD 0.707, reflecting a growth of 99.7% year-on-year[11]. - The total dividend per share for the year was HKD 0.145, which is an increase of 81.3% compared to the previous year[12]. - The final dividend per share proposed was HKD 0.105, representing a 50.0% increase[11]. - The company's total equity attributable to shareholders decreased by 5.7% to HKD 10.38 billion[11]. - Total assets amounted to HKD 15.39 billion, down 3.3% from the previous year[11]. - The return on equity was 6.2%, up from 3.2% in 2020[11]. - The group recorded a profit attributable to shareholders of HKD 237.1 million for 2021, representing a 25.1% increase compared to the same period in 2020[15]. - The total revenue for Asia Financial Group in 2021 reached HKD 1.916 billion, representing a 139.5% increase compared to the baseline year of 2009[71]. - The profit for the year was HKD 665,281,000, up 92.8% from HKD 344,947,000 in the previous year[165]. Investment Strategy - The company plans to maintain a cautious investment strategy in light of potential economic downturns and geopolitical risks[9]. - The investment portfolio generated stable returns, with dividends from long-term strategic investments remaining consistent[17]. - The company aims to diversify its investment portfolio by adding at least HKD 50 million in green energy-related stocks and funds[105]. Insurance Business Performance - The insurance business has shown robust performance, supported by a strong distribution network and market positioning[9]. - The insurance business achieved a nearly 10% increase in revenue for 2021, marking a record high for four consecutive years[15]. - The underwriting profit rose by 10.6% compared to 2020, maintaining a healthy trend in the local insurance industry[15]. - The outlook for the core underwriting business in Hong Kong and Macau is expected to remain stable in 2022 and beyond[15]. Employee and Workforce Management - The total number of employees increased to 314 in 2021 from 299 in 2020, reflecting a focus on maintaining a skilled workforce[29]. - The employee distribution shows 307 full-time employees and 7 part-time employees within the group[53]. - The total number of employees in Asia Financial Group increased by 5.0% year-over-year, reaching 314 employees as of December 31, 2021[52]. - The company emphasizes the importance of excellent customer service to maintain underwriting profitability and aims to expand its customer base to mitigate reliance on a few core clients[28]. - The employee turnover rate for Hong Kong was 14.0% for Asia Finance, 8.5% for Asia Insurance, and 9.7% for Asia Financial Group in 2021[57]. Health and Safety Measures - The group has implemented various measures to protect employee and customer health during the pandemic, including encouraging vaccinations and establishing new health guidelines[23]. - The company continues to prioritize employee health and safety amid the ongoing COVID-19 pandemic, implementing protective measures to minimize infection risks[37]. - Specific measures for health and safety include the installation of air purifiers and plans to upgrade lighting to LED in 2022[59]. - To combat COVID-19, all employees are required to wear masks and undergo temperature checks before entering the office[61]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report highlights the group's commitment to social responsibility and sustainable development, adhering to relevant guidelines[31]. - The company is committed to integrating sustainability principles into all aspects of its operations, reflecting its mission to enhance community value[41]. - The company has adopted a quantitative approach to track and assess its ESG performance over the years, using specific tools for carbon emissions calculation[33]. - The company aims to fulfill its responsibilities by advocating for environmental protection and collaborating with social service organizations[41]. Corporate Governance - The board consists of nine members, with 44.4% being executive directors, 22.2% non-executive directors, and 33.3% independent non-executive directors[111]. - The company has complied with all applicable code provisions of the Corporate Governance Code throughout the year ended December 31, 2021[107]. - The board of directors is responsible for managing the group's business and setting overall corporate goals, business strategies, and operational policies[114]. - The company has established various committees, including the remuneration committee, to review and approve employee compensation proposals, ensuring governance and oversight[188]. Risk Management - The main risks faced by the group include credit risk, stock price risk, insurance risk, interest rate risk, liquidity risk, foreign exchange risk, market risk, and operational risk[25]. - The company adopted a risk management policy to identify, measure, monitor, and control various risks, including credit risk, cash flow risk, and market risk[141]. - The risk committee is responsible for overseeing the effectiveness of the risk management system and reports to the board after each meeting[142]. Charitable Contributions - In 2021, Asia Financial Group donated approximately HKD 16.725 million to local and overseas non-profit organizations, a significant increase of 9.5 times compared to the previous year due to the impact of COVID-19 on fundraising activities[95]. - Charitable donations made by the group during the year amounted to HKD 16,203,000, a significant increase from HKD 1,244,000 in 2020, representing a growth of over 1200%[189].
亚洲金融(00662) - 2021 - 年度财报