Financial Performance - The company recorded revenue of HKD 211.4 million for the fiscal year ending March 31, 2023, compared to HKD 6.7 million in the previous year, representing a significant increase[18]. - The net loss for the year was HKD 418.9 million, an improvement from a net loss of HKD 1.081 billion in the previous year[18]. - The loss attributable to shareholders was HKD 426.5 million, compared to HKD 942.6 million in the prior year, indicating a reduction in losses[18]. - The basic loss per share for the year was HKD 0.1029, down from HKD 0.2273 in the previous year[18]. - The company recorded contract sales of HKD 19.5 million, up from HKD 17.3 million in the previous year, with a total construction area of approximately 6,000 square meters[20]. - Property sales accounted for approximately 98% of the company's revenue this year, a significant increase from 31% in the previous year, while rental income dropped to about 2% from 69%[41]. - The confirmed sales revenue from property sales was HKD 207.1 million, a substantial increase from HKD 2.1 million last year, with a total construction area delivered of 176,000 square meters[42]. Assets and Liabilities - Total assets decreased to HKD 6.771 billion from HKD 7.972 billion in the previous year, while total liabilities decreased to HKD 3.968 billion from HKD 4.445 billion[16]. - Net assets stood at HKD 2.803 billion, down from HKD 3.526 billion in the previous year[16]. - The group's cash and bank balances as of March 31, 2023, were approximately HKD 157.6 million, a decrease from HKD 350.8 million the previous year, with net borrowings of approximately HKD 1.2386 billion[55]. - Total bank and other borrowings amounted to HKD 1.3962 billion, down from HKD 1.6319 billion last year, with long-term borrowings constituting about 80% of total borrowings[56]. Strategic Focus - The company continues to focus on project management and property development as part of its strategic initiatives[12]. - The company plans to continue seeking opportunities for urban redevelopment and low-cost land reserves to enhance its property portfolio[23]. - The company continues to explore investment opportunities in property development and land development projects in China[30]. ESG Practices - The report scope aligns with the annual report, focusing on the performance in environmental, social, and governance (ESG) practices for the fiscal year 2023[67]. - The ESG report is prepared according to the guidelines in Appendix 27 of the Listing Rules, emphasizing importance, balance, quantification, and consistency in disclosures[68]. - The board of directors is responsible for overseeing ESG policies and ensuring effective risk management related to ESG matters[69]. - Stakeholder engagement is deemed crucial for sustainable business growth, with ongoing communication to understand expectations and concerns[72]. - The company aims to maintain compliance with local laws and regulations, ensuring operational stability and fulfilling tax obligations[74]. Environmental Impact - The company aims to reduce greenhouse gas emissions density by 10% by the fiscal year ending March 31, 2025, using the fiscal year 2021 as the baseline[84]. - Direct greenhouse gas emissions (Scope 1) decreased from 7.35 tCO2e in 2022 to 4.23 tCO2e in 2023, while indirect emissions (Scope 2) fell from 32.02 tCO2e to 22.80 tCO2e[84]. - Total energy consumption decreased from 793.85 MWh in 2022 to 500.00 MWh in 2023, with energy consumption density reducing from 0.35 MWh/sqm to 0.22 MWh/sqm[91]. - The company has implemented a comprehensive waste management strategy, including the recycling of paper and proper disposal of hazardous waste[86]. Human Resources - The overall employee turnover rate for the fiscal year 2023 was approximately 41.43%, up from 21.17% in 2022[107]. - The company has implemented a comprehensive performance evaluation system to guide and assess employee performance annually[108]. - The company provides various employee benefits, including basic social insurance and additional incentives such as annual health check-ups and transportation insurance[112]. - The company aims to recruit high-quality talent from top universities to build a project management team for business operations[106]. Corporate Governance - The company adheres to high standards of corporate governance and complies with regulatory laws and guidelines in its operating jurisdictions[160]. - The board consists of four executive directors, two non-executive directors, and three independent non-executive directors, ensuring a diverse skill set[163]. - The company has established mechanisms to ensure all decisions align with the best interests of the company and its shareholders[167]. - The board provides at least 14 days' notice for meetings to allow directors to prepare adequately[174].
沿海家园(01124) - 2023 - 年度财报