Financial Performance - The group's total revenue for the year ended December 31, 2021, was HKD 1,135,586,000, representing a 62% increase from HKD 700,726,000 in 2020[5] - The cost of sales and services increased to HKD 1,506,840,000, up from HKD 1,168,703,000, resulting in a gross loss of HKD 371,254,000 compared to a gross loss of HKD 467,977,000 in the previous year[5] - The net loss for the year was HKD 1,190,444,000, an improvement from a net loss of HKD 1,955,147,000 in 2020[5] - The total comprehensive loss for the year amounted to HKD 1,206,245,000, compared to HKD 1,922,182,000 in the previous year[5] - The operating loss for the gaming segment was HKD 162,980,000, while the non-gaming segment reported a loss of HKD 497,485,000 in 2021[30] - The company recorded a net loss of HKD 1,863,502,000 before tax for the year ended December 31, 2021[31] - The group's pre-tax loss for the year was HKD 1,190 million, compared to a loss of HKD 1,955 million in the previous year[44] - The group's loss attributable to owners for the year was approximately HKD 1,190,400,000, down from a loss of approximately HKD 1,955,100,000 in the previous year[77] Assets and Liabilities - Non-current assets decreased to HKD 7,546,383,000 from HKD 8,280,548,000 in 2020[7] - Current assets increased slightly to HKD 423,723,000 from HKD 412,430,000 in the previous year[7] - Total liabilities increased to HKD 3,655,166,000 from HKD 3,171,793,000 in 2020[9] - The group's net asset value decreased to HKD 4,314,940,000 from HKD 5,521,185,000 in the previous year[9] - The group has a current net liability of approximately HKD 788,000,000 as of December 31, 2021[11] - The group's bank borrowings totaled HKD 2,359,000,000, with HKD 207,000,000 due within the next 12 months, and cash and cash equivalents at HKD 133,000,000 as of December 31, 2021[58] - The group's total outstanding secured and guaranteed bank borrowings amounted to approximately HKD 2,358,700,000 as of December 31, 2021[88] - The net capital debt ratio of the group was 52.7% as of December 31, 2021, compared to 33.4% on December 31, 2020[90] Revenue Breakdown - The group reported total gaming revenue of HKD 917,340,000 for the year ended December 31, 2021, compared to HKD 526,845,000 in the previous year, representing a year-over-year increase of approximately 74%[21] - The revenue from mass gaming tables was HKD 780,365,000, while VIP gaming tables contributed HKD 119,583,000 for the year ended December 31, 2021[21] - Non-gaming revenue for 2021 reached HKD 218,246,000, an increase of 25.5% from HKD 173,881,000 in 2020[23] - Hotel room revenue increased to HKD 45,176,000 in 2021 from HKD 31,940,000 in 2020, representing a growth of 41.1%[23] - Food and beverage revenue surged to HKD 96,361,000 in 2021, up 68.3% from HKD 57,273,000 in 2020[23] - Total revenue from customer contracts for 2021 was HKD 1,088,771,000, a significant increase of 67.7% compared to HKD 648,722,000 in 2020[23] - The company reported a total external revenue of HKD 1,135,586,000 for 2021, compared to HKD 700,726,000 in 2020, marking a growth of 62.2%[30] Operational Measures - The group is actively negotiating with banks to amend covenants or extend existing waivers due to potential breaches of financial covenants[12] - The group has implemented cost control measures to reduce unnecessary cash outflows in response to the current business environment[14] - The group is considering various divestment transactions to improve its working capital situation[14] - The group has taken measures to improve its liquidity and financial position, which are critical for the validity of the going concern assumption in the financial statements[58] - The company has implemented measures to actively control operational costs and expenses in response to the impact of COVID-19 on its operations[77] Future Outlook - The group anticipates sufficient working capital to meet its financial obligations in the foreseeable future, contingent on successful negotiations with banks and the completion of divestment plans[14] - The group expects the number of visitors to Macau to gradually recover in the second half of 2022 as vaccination rates increase and travel restrictions are eased[84] - The group aims to continue providing effective casino management services and explore new collaboration opportunities within the constraints of the new gaming law[83] Governance and Compliance - The company appointed Mr. Li Zhukun as the chairman and Ms. Chen Meiyi as the CEO, ensuring a clear division of responsibilities and enhancing governance functions[98] - The consolidated financial statements for the year ended December 31, 2021, were reviewed by the audit committee, which consists of three independent non-executive directors[99] - Ernst & Young confirmed that the figures in the preliminary announcement are consistent with the annual consolidated financial statements[100] Shareholder Information - The group did not declare or propose any dividends for the year[43] - The company did not declare any final dividend for the year ended December 31, 2021[78] - Trading of the company's shares was suspended on April 1, 2022, and resumed on June 29, 2022, following the announcement of the annual results[101]
澳门励骏(01680) - 2021 Q4 - 年度财报