Financial Performance - Revenue for the year ended December 31, 2021, was HKD 55.8 million, an increase of 8.1% from HKD 51.6 million in 2020[5] - Gross profit decreased by 29.7% to HKD 16.6 million from HKD 23.6 million in the previous year[5] - The annual loss for 2021 was HKD (75.8) million, representing a 57.6% increase from HKD (48.1) million in 2020[5] - The adjusted loss for the year was HKD (44.3) million, a 7.9% improvement from HKD (48.1) million in 2020[5] - Basic and diluted loss per share was HKD (6.3), a 57.5% increase from HKD (4.0) in the previous year[5] - Other income decreased by approximately HKD 7.2 million or about 33.6% to approximately HKD 14.2 million for the year ended December 31, 2021[35] - Selling expenses decreased by approximately HKD 4.8 million or about 42.5% to approximately HKD 6.5 million for the year ended December 31, 2021[37] - Administrative expenses increased by approximately HKD 3.6 million or about 9.1% to approximately HKD 43.3 million for the year ended December 31, 2021[38] - The group reported a loss of approximately HKD 75.8 million for the year ended December 31, 2021, an increase in loss of about HKD 27.7 million or about 57.6% compared to a loss of approximately HKD 48.1 million for the year ended December 31, 2020[39] Assets and Liabilities - Total assets as of December 31, 2021, increased by 11.4% to HKD 155.4 million from HKD 139.5 million in 2020[6] - Shareholders' equity decreased by 43.4% to HKD 64.5 million from HKD 113.9 million in the previous year[6] - The current ratio and quick ratio dropped by 77.1% to 1.1 from 4.8 in 2020[6] - The debt-to-asset ratio increased by 178.3% to 6.4% from 2.3% in the previous year[6] - The net current assets as of December 31, 2021, were approximately HKD 6.8 million, a significant decrease from HKD 72.7 million as of December 31, 2020[52] Revenue Segmentation - The ticket distribution segment's revenue decreased by approximately HKD 14.0 million or about 65.4% to approximately HKD 7.4 million for the year ended December 31, 2021, accounting for about 13.3% of total revenue[23] - Revenue from the travel business process management segment decreased by approximately HKD 2.1 million or about 7.5% to approximately HKD 26.0 million for the year ended December 31, 2021, representing about 46.7% of total revenue[24] - The newly developed other business process management segment generated approximately HKD 22.3 million in revenue, accounting for about 40.0% of total revenue for the year ended December 31, 2021[16] Cost Management - The group has implemented cost control measures, including salary reductions for directors and senior management, to improve cash flow and operational efficiency[19] - The group maintained a strong liquidity position with total employee costs of approximately HKD 51.6 million for the year ended December 31, 2021, compared to HKD 53.7 million for the previous year[58] Governance and Management - The company is committed to good corporate governance practices, adhering to all applicable code provisions except for one regarding the separation of the roles of Chairman and CEO[101] - The board of directors is responsible for guiding and overseeing the company's affairs to promote its success[102] - The company has a diverse board with members holding various positions in different committees, enhancing its governance structure[98] - The company has a dedicated team for financial planning and treasury management, ensuring robust financial oversight[93] - The company has a strong management team, including a CFO with over 25 years of experience in finance and accounting[93] Risk Management - The company has established policies and procedures for risk management and internal control systems[125] - The board is responsible for assessing the nature and extent of risks the company is willing to take to achieve its strategic objectives[125] - The company has identified several key risks, including adverse weather, natural disasters, and economic conditions that may affect financial performance and business outlook[151] Shareholder Relations - The company is committed to providing regular communication and reasonable disclosure of information to shareholders, including annual and interim reports[143] - The board will consider future dividend distributions based on the company's dividend policy at an appropriate time[157] - The company has maintained good relationships with stakeholders, including employees, customers, and suppliers, with no significant disputes reported during the year[156] Employee and Director Information - As of December 31, 2021, the group had a total of 143 employees, an increase from 127 employees as of December 31, 2020[58] - The total remuneration for senior management, including salaries, allowances, discretionary bonuses, and retirement plan contributions, amounted to approximately HKD 3.9 million for the year ended December 31, 2021[107] - All executive directors have entered into three-year service contracts, which can be terminated with three months' written notice[168] Environmental and Social Responsibility - The company has implemented recycling programs for consumables to minimize environmental impact and is committed to improving its environmental, social, and governance policies[155]
富盈环球集团(01620) - 2021 - 年度财报