Financial Performance - The total revenue for the year ended December 31, 2022, was approximately HKD 1,699.3 million, an increase of about HKD 1,620.9 million compared to HKD 78.4 million for the year ended December 31, 2021[8]. - The net profit attributable to shareholders for the year was approximately HKD 329.9 million, a significant increase from a loss of HKD 37.1 million in the previous year[13]. - Basic earnings per share for the year were HKD 0.5143, compared to a loss per share of HKD 0.0579 in the previous year[16]. - The property development segment reported revenue of approximately HKD 1,619.2 million for the year ended December 31, 2022, compared to none for the previous year[17]. - The investment property segment reported revenue of approximately HKD 46.3 million for the year ended December 31, 2022, an increase of approximately HKD 4.5 million from the previous year[21]. - The City Storage and Workspace segment generated revenue of approximately HKD 42.8 million for the year ended December 31, 2022, an increase of approximately HKD 5.0 million from the previous year[22]. - The group generated revenue of approximately HKD 3.5 million from credit financing for personal and corporate clients, a decrease of about HKD 1.0 million compared to HKD 4.5 million in the previous year[26]. - Revenue from the construction and renovation segment was approximately HKD 6.5 million, an increase from HKD 3.9 million in the previous year, indicating a growth of about 66.7%[27]. - The wine business reported revenue of approximately HKD 12.8 million, down from HKD 19.0 million, a decrease of about 32.6% year-on-year[29]. - The group’s total equity as of December 31, 2022, was approximately HKD 1,717.3 million, up from HKD 1,382.3 million, an increase of about 24.2%[32]. Property Development and Sales - The company successfully completed the sale of three properties in South Korea, contributing to the revenue growth[8]. - The construction of the property named "Cloud Edge" was completed, with sales recognized in the second quarter of 2022[8]. - The completed units sold and temporary rental income from properties held for sale for the Rainbow project were approximately HKD 56.2 million and HKD 14.1 million, respectively, for the year ended December 31, 2022[19]. - The Cloud project generated revenue of approximately HKD 402.9 million from the completion and delivery of 187 properties and parking units during the year ended December 31, 2022[19]. - The company plans to focus on the pre-sale of its first residential project "After Rain" in Yuen Long, expected to be completed in the second half of 2023[9]. - The company plans to redevelop the Rain project into a luxury shared apartment complex, with construction expected to be completed in the second half of 2023[19]. - The Corner 19, Corner 25, and Corner 50 projects in Seoul, South Korea, were sold in the third quarter of 2022, generating revenue for the company[19]. Corporate Governance - The board consists of 7 directors, including 2 executive directors, 2 non-executive directors, and 3 independent non-executive directors, ensuring a balanced mix of skills and experience[83]. - The company is committed to maintaining high standards of corporate governance and business ethics, which are crucial for long-term success and sustainable development[80]. - The board has delegated responsibilities for risk management and internal control to the risk control committee, ensuring effective oversight of these critical areas[90]. - The company has established clear written terms of reference for each committee to ensure proper governance practices are followed[99]. - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience in board member selection[107]. - The company has a policy for non-executive directors to serve specific terms of two to three years[111]. - The company adheres to corporate governance codes and regularly reviews the roles and responsibilities of its committees[99]. Risk Management - The group identified several potential risks, including market risk, business risk, and regulatory risk, which could impact its operations and financial condition[46]. - The risk management and internal control system is deemed effective and sufficient by the board of directors during the reporting period[121]. - The risk control committee held one meeting during the reporting period to review the internal controls and risk management of the group[120]. - The internal audit team conducted an annual review of the group's major operating units to assess the effectiveness of the risk management and internal control systems[123]. Employee and Labor Relations - The group employed 122 staff as of December 31, 2022, an increase from 104 staff as of December 31, 2021[45]. - The overall employee turnover rate for the year ending December 31, 2022, was approximately 21.0%, with 44.4% being male and 55.6% female[163]. - 49.10% of employees received training during the year, with 62.12% of regular employees participating in training programs[169]. - The group has zero work-related fatalities and zero lost workdays due to work injuries for the year ending December 31, 2022[166]. - The group has a zero-tolerance policy towards forced labor and child labor, ensuring compliance with all relevant laws and regulations[171]. Environmental and Social Responsibility - The company emphasizes the importance of environmental protection and sustainable development as key trends in society, implementing measures to minimize environmental impact[147]. - The company has introduced a green office program to encourage employees to adopt environmentally friendly practices[147]. - The company is focused on integrating environmental and social responsibility into its operational and management activities[139]. - The company aims to reduce pollution and resource consumption while encouraging suppliers and subcontractors to engage in environmental protection activities[147]. - The company has implemented energy-saving measures, including the installation of sensor devices to prevent electricity wastage[152]. - The company has adhered to all applicable environmental laws and regulations without any significant non-compliance issues reported for the year[150]. Future Outlook and Strategy - The company remains cautiously optimistic about the Hong Kong property market, expecting residential property prices to stabilize and gradually rebound throughout the year[53]. - The company is focused on improving business performance and operational efficiency amidst ongoing global economic challenges, including inflation and interest rate hikes[49]. - The company is monitoring market changes closely while preparing for recovery across various markets and industries in 2023[53]. - The company is investing in R&D, allocating F% of its budget to develop new technologies and improve existing products[63]. - The company is implementing cost-control measures, targeting a reduction in operating expenses by G% over the next year[63]. Shareholder Relations - The company encourages shareholder participation in annual general meetings and supports proxy voting for those unable to attend[128]. - The company has adopted a dividend policy that considers various factors, including shareholder rights and overall financial performance[124]. - The company did not recommend the distribution of a final dividend for the reporting period, consistent with the previous year[198]. - The annual general meeting for 2023 is scheduled for June 1, 2023, with further announcements to be made in accordance with listing rules[199].
星星集团(01560) - 2022 - 年度财报