Financial Performance - Revenue from continuing operations decreased by 17% to HK$66,113,000 in 2021 from HK$79,525,000 in 2020[9] - Loss from operations from continuing operations was HK$5,159,000 in 2021 compared to a profit of HK$15,184,000 in 2020, representing a 134% decline[9] - Loss attributable to equity shareholders of the Company was HK$6,794,000 in 2021, a 145% decrease from a profit of HK$15,053,000 in 2020[9] - Revenue from property development was approximately HK$0.4 million, a significant decrease from approximately HK$21.4 million in the previous year due to reduced sales of remaining inventories[33] - The Group recorded a loss attributable to equity shareholders of approximately HK$6.8 million for the Year, compared to a profit of approximately HK$15.1 million for the year ended 31 December 2020, representing a significant decline[54] Business Segments - The photovoltaic power business remained stable, with the Xuzhou power plant operating well, contributing to consistent revenue[14] - New products in the sub-processing film segment were successfully developed and launched, leading to a significant increase in sales[14] - Revenue from the properties development segment significantly decreased due to the sale of lower-priced inventory, primarily storage rooms and parking lots[14] - The Group recorded revenue of approximately HK$8.1 million from sales of sub-processing cigarette and non-cigarette films, an increase from approximately HK$5.1 million in the previous year[32] - The photovoltaic power generation segment generated approximately HK$57.6 million in revenue, up from approximately HK$53.0 million in the previous year, with a total grid-connected capacity of 40 megawatts[34] Cost and Expenses - Gross profit decreased by approximately HK$7.0 million, or 16.1%, from approximately HK$43.4 million to approximately HK$36.4 million, while gross profit margin increased from approximately 54.5% to approximately 55.1%[35] - Administrative expenses decreased by approximately HK$0.9 million, or 2.9%, from approximately HK$31.3 million to approximately HK$30.4 million[45] - Impairment losses on trade and other receivables increased to approximately HK$14.6 million from approximately HK$0.6 million in the previous year, attributed to greater financial uncertainty due to the COVID-19 pandemic[47] - Selling and distribution expenses remained stable at approximately HK$0.5 million, unchanged from the previous year[43] Strategic Initiatives - The Company plans to actively seek investment opportunities and prioritize market and professional team building for future growth[15] - The Group aims to launch more new projects and build corresponding professional teams to create development opportunities[15] - The Group plans to actively seek different investment opportunities to create more profits and will appropriately launch more new projects in the future[30] - The Group's focus on the development of residential properties and photovoltaic power sales indicates a strategic shift towards sustainable energy solutions[30] Financial Position - As of 31 December 2021, the Group's cash and cash equivalents amounted to approximately HK$344.9 million, an increase of approximately HK$18.8 million from HK$326.1 million as of 31 December 2020[56] - The Group's current ratio improved to 18.9 as of 31 December 2021, compared to 16.2 as of 31 December 2020, indicating a stronger liquidity position[56] - Total capital expenditure for the Year was approximately HK$2.0 million, reflecting the Group's investment activities[64] - The Group did not have any material bank loans or borrowings as of 31 December 2021, maintaining a debt-free status[58] - The income tax expense decreased to approximately HK$0.8 million for the Year, down from approximately HK$4.4 million for the year ended 31 December 2020, primarily due to a refund of PRC land appreciation tax[51] Human Resources - The Group employed 67 employees as of 31 December 2021, down from 74 employees in the previous year, with total staff costs of approximately HK$14.4 million for the Year[68] Dividend and Investments - The Board does not recommend payment of any final dividend for the Year, consistent with the previous year[71] - There were no significant investments, material acquisitions, or disposals by the Group during the Year, indicating a conservative approach to capital allocation[64] - As of December 31, 2021, the Group had no capital commitments, consistent with the previous year[85] Sustainability and ESG - The ESG report covers the period from January 1, 2021, to December 31, 2021, and includes major subsidiaries contributing to total revenue[93] - The Group has included Xuzhou Shuntai New Energy Power Generation Co., Ltd. in this year's report due to its increasing contribution to total revenue[93] - The assessment of ESG-related risks includes environment, human resources, health and safety, and compliance, integrated into risk management processes[106] - The Group adopts a three-step process of identification, prioritization, and validation to manage sustainability topics according to their materiality[107] - A total of 23 sustainability topics have been identified that impact the environment and society through operations[110] - The Group emphasizes the importance of occupational health and workplace safety, ranking it as the highest material topic[121] - Quality and safety of goods/services is ranked second, highlighting the Group's commitment to maintaining high standards[121] - Customer satisfaction is identified as a critical area, reflecting the Group's focus on enhancing client relationships[121] - The Group has established multiple engagement channels for stakeholders, including employees, customers, suppliers, shareholders, government, and community[129] - The Group's environmental risk management and ecological impacts are also considered significant, indicating a proactive approach to sustainability[121] - The Group's commitment to anti-corruption and anti-competitive practices is emphasized, showcasing its dedication to ethical business conduct[121] - Employee development and training are prioritized, demonstrating the Group's investment in its workforce[121] - The Group actively engages with stakeholders to shape its business strategies and respond to their needs and expectations[125] - The Group's performance on high and low materiality topics is disclosed, ensuring transparency in its operations[124] - The Group's focus on compliance with laws and regulations reflects its commitment to corporate governance and sustainability[132] Environmental Impact - The Group aims to maintain similar levels of emissions and waste in 2022 compared to the current year, focusing on clean production and pollution reduction[139] - In 2021, the Group emitted 3.4 kg of Nitrogen Oxides, 0.1 kg of Sulphur Oxides, and 0.2 kg of Particulate Matter[146] - The Group generated a total of 680.2 tonnes of carbon dioxide equivalent (tCO2e) of greenhouse gases in 2021, with a carbon intensity of 0.03 tCO2e per square meter gross floor area[157] - The Group produced 54.6 million kilowatt-hours (kWh) of electricity from photovoltaic power stations in 2021, selling 54.0 million kWh, resulting in 1.1% overproduction[159] - The replacement of high-environmental impact electricity from fossil fuel sources avoided the release of 32,923.4 tCO2e of greenhouse gases[159] - The Group's carbon footprint is primarily due to electricity usage, accounted under Scope II emissions[157] - All discharges to air, water, and land are compliant with regulatory standards, with no incidents of non-compliance reported during the year[141] - Regular maintenance of machinery and vehicles is conducted to ensure fuel efficiency and reduce emissions[142] - The Group's activities are minor sources of noise emissions, with regular monitoring to ensure compliance with regulatory levels[152] - The Group's environmental management systems ensure strict compliance with environmental regulations across all subsidiaries[137] - The Group's photovoltaic power stations generated a total of 54.6 million kWh of electricity in 2021, with a sales volume of 54.0 million kWh, resulting in a surplus of 1.1%[161] - The Group's solar power operations helped avoid the emission of 32,923.4 tons of CO2 equivalent greenhouse gases[161] - The total energy consumption for the Group in 2021 was 194,154.1 GJ, with a total energy intensity of 8.92 GJ per square meter of gross floor area[181] - The Group generated a total of 739.6 kg of non-hazardous waste in 2021, resulting in a non-hazardous waste intensity of 0.03 kg per square meter of gross floor area[174] - The Group's direct and indirect energy consumption amounted to 190,196.1 GJ in 2021[183] - The Group's energy profile is primarily based on electricity for facility operations, with fuel used for electricity being the major source of energy emissions[181] - The Group has implemented measures to reduce greenhouse gas emissions by lowering energy consumption in major areas such as air conditioning and lighting systems[167] - The Group encourages the use of video conferencing to minimize carbon footprints from overseas business trips[167] - The Group's hazardous waste mainly consisted of waste printer cartridges, which did not have a material impact on operations[171] - The Group aims to explore opportunities to replace hazardous materials with less hazardous alternatives as part of its sustainable development principles[166] - The Group consumed a total of 17,179 cubic meters of water during the year, resulting in a water intensity of 0.81 cubic meters per square meter of gross floor area[192] - A total of 8,463.0 kg of packaging material was consumed for finished products, leading to an intensity of 0.94 kg per square meter of gross floor area[198] - The Group has implemented energy-efficient measures, including the installation of LED lighting and cooling systems, to minimize fuel and electricity consumption[186] - The Group prioritizes effective water-saving products and raises staff awareness in water conservation through education and promotion[191] - The Group regularly checks for leakages and damages in piping and taps to ensure prompt repairs and reduce water consumption[191] - The Group aims to consider more sustainable approaches to product packaging early in the design phase[198] - The Group has adopted power-saving modes for office devices to minimize energy usage[186] - The Group complies with the Building Energy Efficiency Ordinance in property development planning, design, and construction[186] - The Group conducts comprehensive photovoltaic resource tests to minimize the impact of climate change on electricity generation[200]
顺泰控股(01335) - 2021 - 年度财报