Financial Performance - The company's revenue for the year ended December 31, 2021, was HKD 160.93 million, representing a 3.5% increase compared to HKD 155.36 million in 2020[9]. - The gross profit for the same period was HKD 104.72 million, with a gross margin of 65.1%, significantly up from 22.1% in the previous year[9][15]. - The company reported a pre-tax loss of HKD 69.14 million, an improvement from a loss of HKD 172.68 million in 2020[9]. - Total revenue for the group was HKD 160,900,000, an increase of about 3.5% from HKD 155,400,000 in 2020, driven by a rise in footwear business revenue[29]. - The group reported a pre-tax loss of HKD 69,100,000 for the year, an improvement from a pre-tax loss of HKD 172,700,000 in the previous year[40]. Business Segments - The footwear business generated revenue of approximately HKD 152.9 million, an increase of 18.8% from HKD 128.7 million in 2020, with same-store sales rising by 23.6%[18]. - The health products segment recorded revenue of approximately HKD 1.7 million, significantly impacted by travel restrictions due to the pandemic[15]. - The financial services segment saw a decline in revenue to approximately HKD 5.6 million compared to the previous year[16]. - The healthcare segment reported revenue of approximately HKD 1,700,000, a decrease of about 69% compared to HKD 5,500,000 in 2020, primarily due to ongoing COVID-19 outbreaks in Australia[32]. - The financial services segment generated revenue of HKD 5,600,000, down approximately 72.6% from HKD 20,300,000 in 2020, mainly due to a reduction in asset management fees[31]. User Engagement and Online Services - The company has registered approximately 140,000 users and patients on its one-stop internet medical platform, with revenue of about HKD 0.8 million for the year[16]. - The total number of registered users for the online medical services reached approximately 135,000, with around 16,500 online consultation orders received[24]. - TATA Health continues to expand its online medical services, including the establishment of the "Shanghai Fever Consultation Platform" in collaboration with Xuhui District Central Hospital[74]. Financial Ratios and Stability - The current ratio decreased to 0.7 times from 1.2 times in the previous year, indicating a decline in liquidity[10]. - The debt-to-equity ratio improved to 311.8% from 722.5% in 2020, reflecting better financial stability[10]. - The group's debt-to-equity ratio improved to approximately 311.8% as of December 31, 2021, compared to 722.5% on December 31, 2020, due to an increase in non-current assets and a decrease in non-current liabilities of HKD 26,600,000 and HKD 35,800,000 respectively[43]. Investment and Future Plans - The company plans to continue investing in the health products sector despite the challenges, focusing on market expansion and cost control strategies[15][17]. - The group plans to invest approximately 30% of the net proceeds from a special placement into the healthcare sector, aiming to collaborate with undervalued brands and become exclusive distributors in the Chinese market[26]. - The group anticipates a strong recovery in retail sales in the second half of 2022, with an expected year-on-year increase of 7% due to government-issued consumption vouchers[25]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to reducing greenhouse gas emissions and energy consumption while providing a safe working environment for employees[74]. - TATA Health aims to enhance its environmental, social, and governance (ESG) performance through stakeholder engagement and materiality assessments conducted annually[77]. - The company has established an ESG task force to monitor significant issues and evaluate the effectiveness of implemented policies[85]. - The company has implemented various environmental measures, including the use of LED lighting and the installation of variable frequency air conditioning systems to enhance energy efficiency[106]. - The company has committed to reducing water usage and promoting water conservation awareness among employees, maintaining relatively low water consumption levels[109]. Employee and Labor Practices - The company employed a total of 185 employees as of December 31, 2021, with 129 in footwear, 10 in financial services, and 46 in healthcare[121]. - Employee distribution shows 67% female and 33% male, with 93.8% full-time and 6.2% part-time[124]. - The total training hours for employees in the current year amounted to approximately 623 hours, a decrease from 1,364 hours in the previous year[140]. - There were no reported employee injuries leading to lost days over the past three years, indicating a strong focus on occupational health and safety[136]. - The company emphasizes employee mental health by organizing activities to strengthen team spirit and promote work-life balance[137]. Corporate Governance - The company has a strong board with members holding qualifications from various prestigious institutions, enhancing its governance and oversight capabilities[172]. - The independent non-executive director, Mr. Xie Rongxing, has over 20 years of experience in accounting, law, and securities, contributing to the company's compliance and regulatory framework[172]. - The company is committed to maintaining high standards of corporate governance, as evidenced by the qualifications and experience of its board members[168]. - The board consists of 9 members, with 2 executive directors (22.2%), 4 non-executive directors (44.4%), and 3 independent non-executive directors (33.3%)[181]. - The company has adopted the corporate governance code since its listing on July 11, 2013, and has complied with the code throughout the year[178].
TATA健康(01255) - 2021 - 年度财报