Financial Performance - The group recorded a loss for the fiscal year, resulting in no final dividend being declared, consistent with the previous fiscal year[3]. - The group reported a loss attributable to shareholders of HKD 19.5 million for the fiscal year ending June 30, 2023, compared to a loss of HKD 92.4 million in the previous year[29]. - Revenue for the fiscal year was HKD 136.3 million, an increase from HKD 128.8 million in the previous fiscal year[29]. - The group reported a loss of HKD 19,487,037 for the year 2023, a significant improvement from a loss of HKD 92,418,031 in 2022[43]. - Other comprehensive income for the year was a loss of HKD 29,092,184, compared to a loss of HKD 92,316,707 in the previous year[43]. - The group's revenue for the year ended June 30, 2023, was HKD 136,355,855, an increase of 5.4% from HKD 128,809,067 in 2022[60]. - The net loss attributable to shareholders for the year was HKD 19,487,037, significantly improved from a loss of HKD 92,418,031 in the previous year[60]. - Financial income increased to HKD 30,080,377 from HKD 4,147,446, marking a substantial rise in financial performance[60]. - The group's total assets decreased to HKD 4,143,043,962 from HKD 4,191,623,183, reflecting a decline of approximately 1.1%[62]. - The group's non-current assets, including property, plant, and equipment, decreased to HKD 3,227,074,190 from HKD 3,350,948,937, a reduction of about 3.7%[62]. - The basic loss per share improved to HKD (1.71) from HKD (8.09) in the previous year, indicating a positive trend in earnings per share[60]. - The group's financial costs increased to HKD (76,582) from HKD (19,355), reflecting higher borrowing costs[60]. - The group reported a pre-tax loss of HKD 19,199,811, a significant improvement from a loss of HKD 92,140,518 in the previous year[70]. - The company reported a basic loss per share of HKD 19,487,037 for the year, compared to a loss of HKD 92,418,031 in the previous year, with a weighted average number of shares issued of 1,142,661,798[87]. - Trade receivables decreased from HKD 3,477,786 in 2022 to HKD 2,845,402 in 2023, while other receivables increased from HKD 11,683,707 to HKD 22,812,347[88]. - The total segment performance amounted to HKD 93,048,630, with other income and losses recorded at HKD (43,213,721)[84]. - The company’s net financial income increased significantly to HKD 30,003,795 from HKD 4,128,091 in the previous year[84]. Visitor Statistics - The total number of visitors to Hong Kong during the fiscal year was 13,412,439, a significant increase from 133,653 in the previous fiscal year, with mainland Chinese visitors accounting for approximately 78%[5]. - In July 2023, the number of inbound travelers reached 3.6 million, the highest level since the outbreak of COVID-19 in 2020[36]. - In the first half of 2023, the total number of visitors to Hong Kong was 12.8 million, which is 36.9% of the pre-pandemic level in 2019[36]. - The hotel occupancy rate and room rates are expected to continue improving as tourist numbers increase[36]. Hotel Performance - Revenue for City Garden Hotel, Hong Kong Park Lane Hotel, and Royal Pacific Hotel was HKD 93.3 million, HKD 418.2 million, and HKD 177.4 million respectively, showing improvement from the previous fiscal year[7]. - Average room occupancy rates for City Garden Hotel, Hong Kong Park Lane Hotel, and Royal Pacific Hotel were 100%, 50.3%, and 55% respectively, with significant increases in average room rates of 9.4%, 58.4%, and 25.2%[8][10][11]. Investments - The group holds a 5.14% equity interest in Hong Kong Shanghai Hotels Limited, with a total investment cost of approximately HKD 702.51 million and a fair value of HKD 585.31 million as of June 30, 2023[13]. - The group recorded an unrealized loss of approximately HKD 27.14 million from the fair value change of the investment in Hong Kong Shanghai Hotels Limited during the fiscal year[13]. Environmental Initiatives - The group aims to reduce greenhouse gas emissions by 30% by 2030, having already achieved a reduction of 42.57% as of June 30, 2023, equivalent to planting 214,185 trees[21]. - The group has committed to eliminating single-use plastic products in its core business by 2035, having already reduced the use of over 1.1 million plastic water bottles as of June 30, 2023[24]. - As of June 30, 2023, 57.6% of the seafood procured by the group was from sustainable sources, with a goal of 100% by 2030[26]. - The group was recognized with the "Hong Kong Environmental Excellence Award" for its efforts in environmental protection and energy efficiency[20]. Community Engagement - The group actively participates in community service initiatives, having served over 51,250 needy elderly individuals since 2011[30]. - The group has launched a new high-quality customer service training program for all employees to enhance service levels and promote a culture of excellence[17]. - The group has established a new operations management trainee program to cultivate future industry leaders through various learning opportunities[17]. Future Outlook - The group plans to continue enhancing products and services to ensure a pleasant guest experience[39]. - The group is optimistic about the recovery of the tourism industry following the reopening of borders with mainland China[39]. - The Hong Kong government has implemented promotional activities to boost tourism, including "Hello, Hong Kong!" and "Happy Hong Kong"[54]. Corporate Governance - The company has adopted its own corporate governance code based on the principles and code provisions of the Corporate Governance Code[77]. - The company’s management structure has been deemed effective in promoting operations and business development, with regular reviews to ensure alignment with industry norms[91]. - The company’s audit committee has reviewed the consolidated financial statements for the year ending June 30, 2023[79]. - The company plans to issue its annual report on September 29, 2023, in compliance with the Listing Rules[80]. Accounting and Financial Reporting - The group is evaluating the impact of new accounting guidelines and expects to apply them retrospectively in the financial report for the year ending June 30, 2024[48]. - The company has not recognized any provisions for contracted costs related to renovations and equipment purchases, which amounted to HKD 13,996,897 in 2023 compared to HKD 3,199,935 in 2022[89].
SINO HOTELS(01221) - 2023 - 年度业绩