Financial Performance - The Group recorded a loss of approximately HK$164.4 million for the year ended 31 December 2021, a decrease from the loss of approximately HK$332.9 million for the preceding year[9]. - For the year ended December 31, 2021, the Group's revenue was approximately HK$93.9 million, representing an increase of approximately 148.7% from approximately HK$37.8 million in the preceding year[16]. - The significant revenue increase was mainly due to the Paris Marriott Hotel's reopening on June 15, 2021, after being temporarily closed for over nine months in the preceding year[16]. - The Group recorded a share of loss from an associate of approximately HK$25.5 million, an increase of approximately 285.6% from approximately HK$6.6 million in the preceding year[16]. - The Group recorded a fair value loss of approximately HK$9.6 million on convertible bonds during the year, despite these bonds continuing to contribute interest income[9]. - The Paris Marriott Hotel recorded a loss of approximately HK$29.1 million for the Year, significantly reduced from a loss of approximately HK$445.1 million for the Preceding Year[21]. Asset and Liability Management - Total non-current assets decreased by approximately 9.9% to approximately HK$2,698.5 million as at 31 December 2021, down from approximately HK$2,996.5 million as at 31 December 2020[19]. - The Group's total current assets as at 31 December 2021 amounted to approximately HK$1,016.7 million, representing a decrease of approximately 5.0% from approximately HK$1,070.7 million as at 31 December 2020[19]. - Total current liabilities decreased by approximately 96.2% to approximately HK$64.2 million as at 31 December 2021, down from approximately HK$1,689.5 million as at 31 December 2020[19]. - As of December 31, 2021, total assets were approximately HK$3,715.2 million, down from HK$4,067.2 million in the previous year[40]. - The Group's outstanding bank loans and other borrowings amounted to approximately HK$1,516,800,000 as of December 31, 2021, compared to approximately HK$1,625,800,000 as of December 31, 2020[42]. - The Group's gearing ratio increased to approximately 40.8% as of December 31, 2021, from approximately 40.0% in the previous year[40]. Renovation and Operational Improvements - The Paris Marriott Hotel is undergoing Phase 1 renovations to enhance competitiveness and guest experience[12]. - The Group committed to a renovation plan of approximately HK$113.4 million for refurbishing certain hotel rooms and corridors of the Paris Marriott Hotel, which commenced in January 2022[22]. - The Paris Marriott Hotel has seen strong demand for hotel rooms since reopening on June 15, 2021, despite ongoing renovations[36]. Market Conditions and Outlook - The Group anticipates a challenging business and investment outlook for 2022 due to ongoing uncertainties from the coronavirus pandemic and global tensions[12]. - The price of commercial and residential properties in Hong Kong showed a downtrend during the year, with expectations of continued decline in 2022[12]. - The mortgage loan market in Hong Kong is expected to remain challenging and competitive[36]. Corporate Governance - The Company has maintained compliance with the Corporate Governance Code throughout the year ended 31 December 2021, with specific deviations noted[58]. - The Board is responsible for directing the strategic objectives of the Group and overseeing business management[65]. - The Company has adopted a code of conduct for Directors' securities transactions that meets the standards of the Model Code[64]. - The overall corporate governance structure includes the Board of Directors, committees, and external auditors[66]. - The Company is committed to monitoring and revising corporate governance policies to meet shareholder expectations[62]. Environmental, Social, and Governance (ESG) Initiatives - The Company identified five key ESG issues through stakeholder engagement to formulate its ESG objectives[169]. - The Group has implemented enhanced cleaning protocols, including increased frequency of cleaning high-traffic areas and installation of hand sanitizing stations[178]. - The Group aims to minimize emissions and waste through resource conservation and environmental awareness training for staff and guests[187]. - The Group's major sources of emissions include greenhouse gas from town gas and electricity, garbage from guests and office, and food waste from services[189]. - The Group has implemented comprehensive hygiene and infection control practices to ensure a safe working environment for employees[185].
开源控股(01215) - 2021 - 年度财报