Financial Performance - The company reported a loss attributable to shareholders of HKD 100,000 for the year ended December 31, 2021, compared to a loss of HKD 105 million for the previous year, representing a significant improvement [6]. - Revenue for the year was HKD 2.204 billion, down from HKD 3.054 billion in the previous year, indicating a decrease of approximately 27.8% [6]. - The foundation piling segment generated revenue of approximately HKD 2.164 billion, down from HKD 3.018 billion, but recorded a profit of HKD 73 million compared to a loss of HKD 32 million in the previous year [8]. - The company reported a loss attributable to ordinary shareholders of HKD 107,000 for the year ended December 31, 2021, compared to a loss of HKD 104,882,000 in 2020 [154]. - Total assets decreased to HKD 2,080,696,000 from HKD 2,267,268,000 in the previous year, reflecting a decline of approximately 8.25% [154]. - Total liabilities were HKD 665,604,000, down from HKD 834,141,000 in 2020, indicating a reduction of about 20.19% [154]. Cash and Assets - The company maintained a cash balance of approximately HKD 651 million as of December 31, 2021, down from HKD 707 million the previous year [13]. - Total assets and net assets were approximately HKD 2.081 billion and HKD 1.415 billion, respectively, compared to HKD 2.267 billion and HKD 1.433 billion in the previous year [13]. - The total liabilities decreased to approximately HKD 666 million from HKD 834 million, with financial liabilities at about HKD 400 million, down from HKD 470 million [13]. - The equity attributable to ordinary shareholders was HKD 1,415,092,000, slightly down from HKD 1,433,127,000 in the previous year [154]. Dividends - The company proposed a final dividend of HKD 0.015 per share, compared to no dividend in the previous year [7]. - The company proposed a final dividend of HKD 0.015 per ordinary share, following an interim dividend of HKD 0.01 per share paid on September 24, 2021 [152]. - The company has a dividend policy that is regularly reviewed to ensure its principles and guidelines remain appropriate for distributing profits to shareholders [129]. Corporate Governance - The company is committed to maintaining high standards of governance and compliance through its board committees [33]. - The company has maintained full compliance with the corporate governance code as of December 31, 2021 [41]. - The board consists of 12 directors, with 3 executive directors, 5 non-executive directors, and 4 independent non-executive directors, ensuring a strong independent component [43]. - The company has established a risk management and internal control system that complies with the corporate governance code, ensuring effective monitoring of risks associated with its operations [108]. - The internal control system is based on the COSO 2013 framework, which aims to achieve effective operations, reliable financial reporting, and compliance with applicable laws [111]. - The company has established a shareholder communication policy to ensure timely information dissemination and encourage shareholder participation in meetings [124]. - The company has a commitment to maintaining good corporate governance practices in line with the Hong Kong Stock Exchange's listing rules [41]. Board and Leadership - The company has a diverse leadership team with expertise in various sectors, including engineering, real estate, and finance [32]. - The independent non-executive directors bring over 37 years of experience in audit, accounting, and corporate services [33]. - The chairman, Mr. Wei Zengpeng, leads the board and is responsible for formulating the group's strategy and overall policy [48]. - The financial director, Ms. Ye Peishan, has over 21 years of experience in auditing, internal control, and financial management [37]. - The board has delegated daily responsibilities to executive directors and senior management under the chairman's leadership [42]. - The company has a diverse board with members possessing extensive professional knowledge and experience in various fields [43]. Risk Management - The audit committee has been tasked with reviewing the company's compliance policies, including anti-bribery and anti-corruption measures [80]. - The board is responsible for the effectiveness of the group's risk management and internal control systems, which are reviewed annually [119]. - The audit committee conducts an annual review of the internal control system, covering financial, operational, compliance, and risk management functions [119]. Shareholder Information - Blackstone Group holds a significant 70.00% stake in the company, amounting to 2,356,146,781 shares [192]. - Major shareholders include Chen's Group International Limited and its affiliates, each holding 235,106,000 shares, representing 6.98% of the issued share capital [196]. - The company has a diverse shareholder base, with several entities holding over 5% of the issued share capital [196]. - The company has a total of 167,600,000 unexercised stock options as of December 31, 2021 [183]. Compliance and Legal - The company has not faced any serious violations of applicable laws and regulations during the year [146]. - The company has allocated resources to ensure compliance with relevant laws and regulations in Hong Kong, Bermuda, and China [146]. - The company has implemented procedures for handling and disclosing inside information, ensuring compliance with securities regulations [117].
泰升集团(00687) - 2021 - 年度财报