Financial Performance - The group's net asset value decreased to HKD 572,789,000, down from HKD 799,531,000 in the previous year[9]. - The net loss for the year was HKD 215,195,000, compared to a loss of HKD 66,645,000 in the previous year[15]. - Fair value losses on unlisted investments amounted to approximately HKD 189,492,000, while listed investments incurred fair value losses of about HKD 10,967,000[15]. - The market value of listed securities as of June 30 was HKD 69,383,000, down from HKD 89,258,000 the previous year[17]. - The group recorded total losses from listed securities business of HKD 19,875,000, compared to a loss of HKD 4,169,000 last year[17]. - The group's non-listed investment portfolio recorded a total loss of HKD 193,684,000 for the year ended June 30, 2022, compared to a loss of HKD 52,190,000 in the previous year, primarily due to a decrease in fair value of clean energy companies[60]. - The fair value of the group's non-listed investments decreased by 28.96% from HKD 685,224,000 last year to HKD 486,785,000 as of June 30, 2022[60]. - The company reported a total distributable reserve of HKD 442,688,000 as of June 30, 2022, down from HKD 699,988,000 in 2021[100]. Investment Strategy - The company plans to continue focusing on the Chinese bioethanol industry to maximize shareholder value[12]. - The company plans to exit investments in the micro-lending industry due to declining performance and increasing operational risks, while continuing to focus on investments in the bioenergy sector[61]. - The company aims to maximize shareholder value through strategic exits from underperforming sectors and continued investment in high-potential areas like bioenergy[61]. - The company has made significant investments in the clean energy sector since 2018, focusing on bioenergy as a carbon-neutral and renewable energy source[61]. Administrative and Operational Efficiency - Administrative expenses decreased by 24.44% to HKD 15,647,000 from HKD 20,709,000 in the previous year[16]. - The total employee cost for the year was HKD 10,358,000, down from HKD 11,938,000 in the previous year[77]. - The company has established frameworks and formal communication channels to maintain good relationships with employees and stakeholders, despite having no major customers or suppliers disclosed for the year[94]. Corporate Governance - The board consists of a mix of executive and non-executive directors, ensuring a balance of skills and experience to meet the group's business needs[149]. - The company has adopted a board diversity policy, considering factors such as gender, age, and professional experience to enhance board efficiency[150]. - The board is responsible for leading and monitoring the company, making objective decisions in the best interest of the company[146]. - The company has adopted the standards of conduct for directors' securities trading as per the listing rules[143]. - The company is preparing for the re-election of non-executive and independent non-executive directors at the upcoming annual general meeting[105]. Risk Management and Compliance - The company is committed to maintaining an effective risk management and internal control system to ensure no significant misstatements or losses occur[181]. - The board of directors is responsible for maintaining good risk management and internal control systems, particularly in financial, operational, compliance, and risk management aspects[181]. - The audit committee reviewed the effectiveness of the internal control system and found no significant deficiencies[181]. - The board is tasked with reviewing and monitoring compliance with statutory and regulatory requirements[178]. Environmental, Social, and Governance (ESG) - The company emphasizes the importance of environmental and social governance in its operations and aims to minimize its environmental impact[192]. - The environmental, social, and governance (ESG) report covers the period from July 1, 2021, to June 30, 2022[193]. - The report aims to present a balanced view of the company's overall sustainability performance, detailing both achievements and challenges faced[196]. - The company commits to maintaining consistency in the scope and reporting methods of the ESG report annually[196]. - Stakeholders are encouraged to provide feedback on the company's sustainability policies through its official website[200].
中国金融国际(00721) - 2022 - 年度财报