Financial Performance - The group's revenue from continuing operations was approximately HKD 509.4 million, a decrease of about 15.5% compared to HKD 602.7 million for the year ended December 31, 2021[8]. - The loss attributable to equity holders of the company was approximately HKD 88.9 million, compared to a loss of HKD 104.9 million in the same period of 2021[8]. - The restaurant services segment contributed approximately HKD 429.5 million to total revenue, a decrease of about 13.6% from HKD 497.4 million in the previous year[11]. - The gross profit from restaurant services was approximately HKD 49.4 million, down from approximately HKD 51.2 million, with a gross margin increase to about 11.5%[11]. - The financial services segment contributed approximately HKD 69.0 million to total revenue, a decrease of about 26.6% from HKD 94.0 million in the previous year[12]. - The financial services segment recorded a loss of approximately HKD 8.6 million, compared to a profit of approximately HKD 26.3 million in the previous year[13]. - The group's total revenue for the reporting period was approximately HKD 509.4 million, a decrease of about 15.5% compared to HKD 602.7 million for the year ended December 31, 2021[44]. - The gross profit for the reporting period was approximately HKD 104.3 million, down about 18.8% from HKD 128.5 million for the year ended December 31, 2021[45]. - The gross profit margin decreased by approximately 0.8% to about 20.5% compared to 21.3% for the year ended December 31, 2021[48]. - The net loss attributable to equity holders for the reporting period was approximately HKD 88.9 million, with a net loss margin of about 17.4%[61]. Business Segments - The personal care products segment contributed total revenue of approximately HKD 392.0 million, a decline of about 34.8% from HKD 601.4 million for the year ended December 31, 2021[39]. - The financing leasing and factoring business contributed total revenue of approximately HKD 1.5 million, a decrease of about 85.1% from HKD 10.0 million for the year ended December 31, 2021[42]. - The lending business recorded a revenue of approximately HKD 1.5 million, down from HKD 5.1 million as of December 31, 2021[27]. - The lending business incurred a loss of approximately HKD 7.4 million, compared to a profit of approximately HKD 1.9 million as of December 31, 2021[30]. - The property holding business recorded a segment loss of approximately HKD 35.2 million, compared to HKD 12.9 million for the year ended December 31, 2021[35]. - An impairment loss of approximately HKD 25.8 million was recognized for properties under development during the reporting period, compared to HKD 3.7 million for the year ended December 31, 2021[36]. - The segment providing temperature-controlled storage and related services contributed total revenue of approximately HKD 10.8 million, a decrease of about 4.1% from HKD 11.3 million for the year ended December 31, 2021[38]. Corporate Strategy and Outlook - The company plans to continue exploring opportunities to expand its investments in the financial services sector, leveraging Hong Kong's unique position as a bridge between China and the rest of the world[9]. - The company will adopt a prudent approach to business development, focusing on enhancing and diversifying its business portfolio in response to ongoing challenges such as COVID-19 recovery and global inflation[9]. - The group plans to expand its restaurant services by increasing the range of high-margin products and seeking different procurement regions to control costs[87]. - The group aims to enhance brand awareness and explore potential opportunities in the food processing sector, including acquisitions or establishing processing plants[87]. - The outlook for 2023 indicates that geopolitical conflicts and inflation risks may continue to suppress global investor sentiment, while domestic demand in mainland China is expected to recover[88]. - The group will maintain a cautious approach in managing its securities investment portfolio amid market volatility[88]. - The group is optimistic about the financial services industry in Hong Kong, leveraging its unique position as a hub for offshore RMB business, with a focus on expanding financial operations[90]. - The group plans to redevelop properties in Yuen Long, Hong Kong, with applications submitted to the government, anticipating no legal obstacles to approvals[90]. Corporate Governance - The company has adopted the corporate governance code principles and believes it has complied with the code provisions for the year ended December 31, 2022, except for specific provisions regarding the roles of the chairman and the CEO[107]. - The board consists of six directors, with two being female, representing approximately 33.3% of the board members, and the company aims to increase the proportion of female members in the future[115]. - The board is responsible for leading, monitoring, and managing the company, ensuring effective operations and growth, and enhancing shareholder value[108]. - The company has not appointed a chairman for the board as of December 31, 2022, and the CEO has acted as the chairman during the annual general meeting[117]. - The company has established a policy to ensure the independence of the board and will review the implementation and effectiveness of this policy annually[113]. - The board has three independent non-executive directors, meeting the requirement of having at least one with appropriate professional qualifications or accounting expertise[112]. - The company emphasizes the importance of good corporate governance practices for maintaining investor confidence and sustainable development[106]. - The board regularly reviews the powers and responsibilities delegated to senior management to ensure effective governance[108]. Risk Management - The risk management and internal control systems are designed to protect assets from misuse and unauthorized transactions, ensuring effective management of operational risks[155]. - The board is responsible for evaluating and determining the nature and extent of risks the group is willing to take to achieve its strategic objectives[157]. - The internal audit function is executed by a qualified professional firm, which assesses the effectiveness of the risk management and internal control systems[159]. - The company has adopted a whistleblowing policy to provide clear procedures for reporting misconduct or unethical behavior[159]. - The group has implemented credit and risk control policies for its securities business, particularly in margin financing, to enhance operational efficiency[162]. - The company has established policies to monitor concentration risk related to individual securities and margin clients, with regular stress testing conducted by the compliance team[167]. Shareholder Communication - The company emphasizes effective communication with shareholders, providing a platform for inquiries and maintaining transparency in operations[189]. - The company has established a website to facilitate communication with shareholders, offering access to business developments and financial information[189]. - The company ensures effective, equal, and timely communication of information to shareholders and investors[198]. - The company encourages shareholders to receive communications electronically to promote timely communication and environmental protection[200]. - Shareholders have the right to propose resolutions at general meetings and can convene special meetings[200]. - The company provides a website (www.pfh.hk) for shareholders to access information, including financial reports and announcements[200]. - The board members and appropriate management will attend the annual general meeting to address shareholder inquiries[200]. - The company has implemented the shareholder communication policy effectively in 2022[199].
未来发展控股(01259) - 2022 - 年度财报