Financial Performance - The company's total revenue for 2021 was HKD 4,855,567,000, an increase of 91.3% compared to HKD 2,538,001,000 in 2020[8]. - Operating profit rose to HKD 155,302,000, reflecting a 132.2% increase from HKD 66,878,000 in the previous year[8]. - Shareholders' profit attributable to the company decreased by 22.7% to HKD 54,062,000 from HKD 69,899,000 in 2020[11]. - The basic earnings per share were HKD 0.060, down 22.1% from HKD 0.077 in 2020[11]. - Net profit for the year was HKD 71,529, a decrease of 1.9% compared to HKD 72,892 in 2020[189]. - Total comprehensive income for the year was HKD 146,611, compared to HKD 185,691 in 2020, reflecting a decrease of 21.0%[189]. Revenue Segments - Revenue from the tinplate business increased by 47.6% to HKD 3,122,513,000, with segment profit rising by 877.3% to HKD 84,943,000[14]. - In 2021, the fresh food business generated revenue of HKD 1,710,826,000, an increase of HKD 1,307,821,000 or 324.5% compared to 2020[24]. - The property leasing business achieved a rental rate of 91.2%, up by 9.1 percentage points from 2020, generating revenue of HKD 22,228,000, a 14.9% increase[28]. Market Position - The company achieved a market share of approximately 47% in the live pig supply market for Hong Kong, with a slaughter volume exceeding 490,000 heads[13]. - The group maintained a market share of approximately 47% in the live pig supply market for Hong Kong, supported by the expansion of domestic frozen meat wholesale and retail businesses[25]. Assets and Liabilities - Total assets increased by 28.2% to HKD 4,250,775,000 from HKD 3,315,440,000 in 2020[9]. - Total liabilities increased significantly to HKD 1,212,327 from HKD 492,721 in the previous year, marking a rise of 146.0%[192]. - The company reported a significant increase in inventory, which reached HKD 478,919, up from HKD 315,091 in 2020, a growth of 52.0%[192]. Dividends - The company proposed a final dividend of HKD 0.015 per share for the 2021 fiscal year[12]. - The company reported a mid-term dividend of HKD 0.01 per share for 2021, consistent with 2020, and proposed a final dividend of HKD 0.015 per share, also unchanged from the previous year[57]. - The proposed final dividend is expected to be paid on July 15, 2022, if approved at the annual general meeting[57]. Strategic Initiatives - The group plans to strengthen its fresh food business by investing in an integrated supply chain from livestock farming to cold chain logistics and fresh marketing[17]. - The group aims to explore new business models such as e-commerce and new retail to enhance its sales network across the Guangdong-Hong Kong-Macao Greater Bay Area[19]. - The group completed a capital increase in Guangdong Baojin Livestock Co., Ltd. to strengthen its control over pig farming and expand its modern agricultural industry chain[18]. Governance and Management - The company’s board of directors includes experienced professionals with backgrounds in finance and management, enhancing its governance structure[49][50][51]. - The board consists of seven members, including three independent non-executive directors, contributing to a diverse governance structure[135]. - The company has established a remuneration committee to oversee the compensation of directors and management, ensuring transparency and accountability[141]. Environmental and Compliance - The company emphasizes the importance of environmental protection and compliance with national environmental laws in its operations[66]. - The company has adopted effective environmental protection technologies and measures to ensure compliance with environmental standards[80]. Risks and Challenges - The company faces risks related to the net realizable value of inventory being lower than cost due to price fluctuations in tinplate products, particularly from industry oversupply and intense competition[170]. - Raw material costs accounted for 82% of total production costs in the tinplate business, indicating significant exposure to raw material price fluctuations[66].
广南(集团)(01203) - 2021 - 年度财报