Financial Performance - For the fiscal year ending June 30, 2022, the group reported a loss attributable to shareholders of HKD 92.4 million, compared to a loss of HKD 95.3 million in the previous year[9]. - The group's revenue for the fiscal year was HKD 128.8 million, an increase from HKD 112.3 million in the previous fiscal year[9]. - The loss per share for the fiscal year was HKD 0.809, slightly improved from HKD 0.834 in the previous year[9]. - Due to the loss recorded, the board decided not to declare a final dividend for the fiscal year, resulting in no dividends being paid for the entire year[10]. - The group recorded an unrealized loss of approximately HKD 80.586 million from the fair value change of its investment in Hong Kong Shanghai Hotels Limited for the fiscal year[19]. - As of June 30, 2022, the group had cash and bank deposits of HKD 839 million and no outstanding debts, indicating a strong financial position[20]. - As of June 30, 2022, the distributable reserves available to shareholders amount to HKD 2,022,818,864[189]. Hotel Operations - The number of visitors to Hong Kong during the fiscal year was 133,653, a significant decrease compared to 2.45 million in the pre-pandemic year of 2019/2020[11]. - The group implemented a two-year bulk leasing arrangement for hotel rooms and facilities to stabilize revenue during the pandemic[13]. - The Royal Pacific Hotel signed a three-month contract to serve as a community isolation facility, generating guaranteed income from the government[13]. - The group continued to control costs and improve operational efficiency while enhancing service quality during challenging times[13]. - The group’s hotel portfolio includes City Garden Hotel, Hong Kong Park Lane Hotel, and Royal Pacific Hotel, which faced significant challenges due to COVID-19 restrictions[11]. - City Garden Hotel achieved an average room occupancy rate of 100% for the fiscal year, up from 92.8% in the previous year, with rental income increasing by 4.5% to HKD 76.2 million[15]. - Hong Kong Park Lane Hotel's average room occupancy rate was 26.1%, a slight increase from 19.5% last year, but rental income decreased by 3.4% to HKD 81 million[16]. - Royal Pacific Hotel reported an average room occupancy rate of 70.9%, significantly up from 33.5% last year, with rental income soaring by 76% to HKD 157.7 million[17]. - The group has signed a new four-year lease agreement effective from August 1, 2022, to further stabilize operations[13]. Sustainability Initiatives - The group aims to reduce greenhouse gas emissions by 30% from 2012 levels by 2030, having already achieved a 36.9% reduction as of June 30, 2022[21]. - The group plans to source 60% of its seafood from sustainable sources by 2025 and 100% by 2030, with 50% of seafood currently having eco-labels and certifications[25]. - The group has installed 72 solar panels at City Garden Hotel to promote renewable energy[21]. - Over 90% of the lighting in hotels has been upgraded to high-efficiency fixtures, contributing to energy savings and reduced carbon emissions[45]. - The group has established long-term greenhouse gas reduction targets to minimize its carbon footprint and enhance operational energy efficiency[44]. - The total greenhouse gas emissions for the year ended June 30, 2022, amounted to 7,303.27 tons of CO2 equivalent, an increase from 6,943.45 tons in the previous year, representing a year-over-year increase of approximately 5.2%[46]. - The company has achieved a 16.8% reduction in greenhouse gas emissions compared to the baseline year of 2012, equivalent to planting 185,600 trees[47]. - The company has reduced single-use plastic consumption by 72% as of June 30, 2022, with a new target to eliminate single-use plastics in core operations by 2035[55]. - The waste recycling program has seen a significant increase in plastic recycling, with 1,624 kg of plastic recycled in the year ended June 30, 2022, compared to 130 kg in the previous year[59]. - The group aims to reduce water consumption by 20% by 2030, with a current reduction of 56.54% as of June 30, 2022, compared to the baseline year of 2018[63]. Community Engagement - The group has delivered nearly 50,000 servings of hot soup to underprivileged individuals and families since 2011 as part of its community support initiatives[26]. - The group launched a community telemedicine service in March 2022, serving 300 residents in Tai O and Lantau Island, providing medical consultations and herbal soup packages[28]. - The group celebrated the 10th anniversary of the Tai O Heritage Hotel in 2022, launching various activities to commemorate this milestone[27]. - The group has been recognized for its community care efforts, receiving the "Caring Company" logo from the Hong Kong Council of Social Service for 13 consecutive years[26]. - The group’s volunteers provided approximately 390 hours of service in Hong Kong during the fiscal year ending June 30, 2022[97]. - The group distributed about 2,100 servings of warm soup to those in need during the period from October 2021 to March 2022[101]. - The group has partnered with food aid organizations since 2011, distributing over 67,000 hot meal boxes to needy individuals and families during a six-month initiative starting in April 2021[102]. Corporate Governance - The board consists of eight directors, including three executive directors, two non-executive directors, and three independent non-executive directors[104]. - The group emphasizes high levels of corporate governance practices and procedures, adhering to the applicable rules for the fiscal year ending June 30, 2022[103]. - The company has implemented a customized corporate governance code, ensuring compliance with the Hong Kong Stock Exchange's listing rules[105]. - The company has established four committees under the board, including the remuneration committee, nomination committee, audit committee, and compliance committee, to oversee various functions[108]. - The board is responsible for appointing any person to fill vacancies or as new members, ensuring candidates have the necessary experience and skills[110]. - The company has adopted a board diversity policy to support strategic goals and sustainable development, considering various factors for new appointments and reappointments[120]. - The remuneration policy ensures that employee compensation, including executive directors and senior management, is determined based on skills, knowledge, responsibilities, and performance, with no individual director participating in setting their own pay[116]. - The company has implemented a nomination policy since January 1, 2019, ensuring fair and transparent nominations for board members based on required skills and diverse perspectives[119]. Risk Management - The company has implemented a comprehensive enterprise risk management system to identify, assess, and report risks that may impact achieving strategic goals[159]. - The risk management framework is regularly reviewed and updated to ensure its continued relevance and effectiveness, adhering to international standards such as ISO 31000:2018[161]. - The group employs a "three lines of defense" risk governance model, overseen by the Board of Directors, Audit Committee, and Risk and Control Committee[162]. - The internal audit department conducts independent assessments of operational monitoring across business units[129]. - The company has established a risk classification system to identify, categorize, and document various risks[168]. - The group communicates and consults with stakeholders at all stages of the risk management process to address emerging risks promptly[166]. - The internal audit department regularly reports on the overall risk status and significant risks to the Audit Committee[170]. - The group closely monitors global and local economic conditions and government policy changes to mitigate risks related to visitor numbers[175]. Employee Management - The total number of employees decreased to 360 from 398 in the previous year, representing a decline of approximately 9.5%[74]. - The percentage of male employees as of June 30, 2022, was 27.4%, down from 42.5% the previous year, indicating a significant shift in gender representation[75]. - The total training hours for male employees decreased to 5,780.59 hours in 2022 from 6,359.67 hours in 2021, a reduction of about 9.1%[82]. - The average training hours per employee for females decreased to 24.34 hours in 2022 from 30.47 hours in 2021, reflecting a decline of approximately 20.1%[82]. - The group recorded 16 workplace injuries in the year ending June 30, 2022, resulting in a total of 1,000 lost workdays, compared to 12 injuries and 494 lost workdays in the previous year, indicating an increase in workplace incidents[79]. - The percentage of employees receiving training remained at 100% for both male and female employees in 2022, consistent with the previous year[82]. - The group’s employee wellness programs include various activities for family and mental health, demonstrating a commitment to employee well-being[77]. - The group has established a self-improvement development program called "GROW" to train junior employees in supervisory skills, indicating a focus on internal talent development[81]. Compliance and Ethics - The group has established a confidential reporting mechanism for employees to report unethical behavior, reinforcing its commitment to integrity and anti-corruption policies[95]. - The group has not identified any significant cases of violations related to bribery, extortion, fraud, or money laundering for the fiscal year ending June 30, 2022[96]. - The company maintains a code of conduct to prevent bribery and conflicts of interest[123]. - The company is committed to maintaining confidentiality regarding insider information and has established reporting channels for potential insider information risks[137].
SINO HOTELS(01221) - 2022 - 年度财报