Financial Performance - The group's revenue for the fiscal year ended December 31, 2022, was HKD 944,305,000, an increase of HKD 16,498,000 or 1.8% compared to HKD 927,807,000 in 2021[10] - The net profit attributable to shareholders for 2022 was HKD 231,610,000, a decrease of 12.1% from HKD 263,382,000 in 2021[60] - The basic earnings per share for 2022 was HKD 0.2494, down from HKD 0.2836 in 2021, reflecting a decline of 12.1%[60] - The EBITDA for 2022 was HKD 765,102,000, up 4.3% from HKD 733,826,000 in 2021, with an EBITDA margin of 81.0%[60] - Revenue from satellite transponder capacity was HKD 861,299,000, up 1.6% from HKD 847,388,000 in the previous year[88] Cash and Financial Position - The group held approximately HKD 1,749,738,000 in cash and bank deposits as of December 31, 2022, ensuring a stable financial position[23] - The total cash and bank balances as of December 31, 2022, amounted to HKD 1,749,738,000, representing an increase of 28.3% from HKD 1,363,964,000 in 2021[60] - The group maintains a low level of debt, allowing for potential external borrowing if necessary in the future[23] - The group’s total liabilities decreased to HKD 1,059,855,000, down 8.7% from HKD 1,161,255,000 in 2021, resulting in a debt-to-asset ratio of 14.9%[60] - The company has no outstanding principal balance on a USD 12,000,000 revolving loan as of December 31, 2022[68] Dividends - The board declared a final cash dividend of HKD 0.17 per ordinary share for the fiscal year ended December 31, 2022, down from HKD 0.2050 per share in 2021[11] - The company has adopted a dividend policy based on financial condition, business outlook, future income, cash flow, and other specified factors[200] Business Development and Strategy - The group has successfully implemented the Asia-Pacific 6D satellite project, enhancing its competitive edge with advanced technology and a wider range of services[27] - The group is focusing on developing more Ku, Ka band, and high-throughput payload transponders to mitigate the impact of 5G on current satellite frequency usage[25] - The group achieved a positive business growth in markets such as mainland China and Southeast Asia despite facing significant market competition[46] - The group has a total capital commitment of USD 26,842,000 (approximately HKD 209,370,000) for developing gateway facilities and investing in joint ventures[23] Corporate Governance - The company has established an internal control and risk management committee to enhance risk and compliance management[105] - The board confirmed compliance with all relevant regulations and guidelines in all material aspects for the fiscal year 2022[101] - The board has established audit, risk management, nomination, and remuneration committees to ensure high standards of corporate governance[77] - The company emphasizes transparency in the remuneration process to prevent conflicts of interest among directors[111] - The independent non-executive directors are responsible for ensuring corporate governance standards are met[111] Board Composition and Diversity - The board consists of two executive directors, six non-executive directors, and four independent non-executive directors[107] - The board's current composition includes 1 director aged 30-49, 6 directors aged 50-59, and 6 directors aged 60 and above, with 100% male representation[153] - The company emphasizes the importance of board diversity for maintaining competitive advantage and has established a diversity policy since August 26, 2013[154] - The company plans to appoint at least one female director by December 31, 2024, as part of its board diversity policy[125] - The nomination committee regularly reviews the board's structure and composition to ensure a balanced diversity profile[150] Risk Management and Internal Controls - The company has implemented a robust internal control system based on the COSO framework, with annual reviews to ensure effectiveness[171] - The internal control and risk management committee conducted an annual review of the effectiveness of the internal control system and risk management for the year 2022[191] - The internal audit team independently tested and assessed the effectiveness of selected internal controls, with results reviewed by the audit and risk management committee[191] - No significant control failures were reported for the year ending December 31, 2022, indicating strong internal monitoring[173] - The company has a whistleblower protection policy in place to prevent corruption and bribery within the organization[175] Employee Development and Training - The company continues to prioritize employee training and development to enhance governance and compliance with legal regulations[185] - The company has implemented training programs for directors to enhance their knowledge and skills regarding corporate governance[128] Meeting Attendance and Performance - The attendance record for board meetings shows that the chairman attended 4 out of 4 meetings, while some directors had perfect attendance[109] - The remuneration committee held three meetings in 2022 to review the remuneration policies and performance of directors and senior management[111] - The nomination committee also held three meetings in 2022, focusing on the appointment and reappointment of directors[117] - The board of directors held four meetings and one annual general meeting in 2022[123]
亚太卫星(01045) - 2022 - 年度财报