Financial Performance - The total revenue for the year ended December 31, 2021, was HKD 2,125,200,000, a decrease of 29.2% compared to HKD 3,003,200,000 for the year ended December 31, 2020[23]. - Supply chain business revenue was HKD 2,114,800,000, down HKD 868,800,000 from HKD 2,983,600,000 in the previous year[24]. - The company recorded a net loss of approximately HKD 5,600,000 for the year, compared to a net profit of approximately HKD 21,300,000 in the previous year[24]. - Revenue from other businesses, including lending, securities investment, leasing, and property investment, was approximately HKD 10,400,000, down from HKD 19,600,000 in the previous year[24]. - Total revenue for the group was HKD 2,125,200,000, down 29.2% from HKD 3,003,200,000 for the year ended December 31, 2020, primarily due to the decline in supply chain business revenue[39]. - The group recorded a net loss of approximately HKD 5,600,000 for the year ended December 31, 2021, compared to a net profit of approximately HKD 21,300,000 for the year ended December 31, 2020[41]. Business Strategy and Outlook - The management plans to continue seeking potential business opportunities to diversify and expand revenue sources in response to economic challenges[27]. - The company aims to create stable income and maintain growth amid an unstable economic environment[27]. - The company anticipates a generally positive outlook for the tourism industry in China, driven by government stimulus measures[27]. - The supply chain business remains the core focus, despite challenges from COVID-19 and the implementation of the "three red lines" policy in China's real estate sector[24]. - The company seeks to diversify its strategy and explore new investment opportunities to enhance profitability and competitiveness[71]. - The outlook for the operating environment remains uncertain due to COVID-19 variants and global political instability, prompting the company to adjust its operational strategies[72]. Financial Position and Assets - The total amount of receivables from financing leases was HKD 26,400,000 as of December 31, 2021, with rental income from leasing business confirmed at HKD 3,300,000 for the year[33]. - The fair value of investment properties was HKD 244,200,000 as of December 31, 2021, with rental income recorded at HKD 4,300,000[34]. - The fair value of financial assets measured at fair value through profit or loss decreased significantly to HKD 84,500,000 as of December 31, 2021, from HKD 274,000,000 in the previous year[44]. - The fair value of financial assets measured at fair value through other comprehensive income decreased to HKD 133,162, down from HKD 221,489 in 2020[55]. - The group’s cash and cash equivalents were HKD 15,400,000 as of December 31, 2021, down from HKD 118,600,000 in the previous year[46]. - The group’s receivables increased by HKD 61,900,000, mainly due to prepayments made to suppliers in the supply chain business[42]. Governance and Management - The company has appointed several experienced directors, including Ms. Qian as CEO, who has over eight years of management experience in financial investment[76]. - The company has a strong board with members having extensive backgrounds in accounting, law, and corporate finance, enhancing governance and strategic oversight[86]. - The company is focused on compliance and has faced scrutiny from regulatory bodies, indicating a commitment to maintaining high standards[84]. - The management team includes professionals with significant experience in mergers and acquisitions, which may support future growth strategies[85]. - The board consists of nine directors, including four executive directors, two non-executive directors, and three independent non-executive directors as of December 31, 2021[155]. - The board is responsible for reviewing and supervising the group's financial and business performance, aiming to provide higher returns to shareholders[157]. Shareholder Information - The company did not recommend any dividend payment for the year ended December 31, 2021[65]. - The company has established a dividend policy to enhance transparency and assist shareholders in making informed investment decisions[194]. - The board will continuously review the dividend policy and does not guarantee the payment of any specific amount of dividends[195]. - Shareholders holding at least 10% of the voting rights can request a special general meeting[197]. - Shareholders with at least 20% of the total voting rights or 100 shareholders can submit written requests for resolutions at the general meeting[198]. Risk Management - The management is taking a cautious approach to reduce credit and business risks due to the ongoing impact of COVID-19 and uncertainties in the global economy[25]. - The group will continue to adopt a prudent approach in managing credit risk and will tighten credit assessments for new customers[33]. - The group actively manages foreign exchange and interest rate risks, with a focus on monitoring and hedging significant currency risks as needed[50]. Corporate Actions - The company entered into an agreement to acquire all issued shares of Zhuojian Industrial Group Limited for a cash consideration of HKD 120 million, focusing on hotel operations and management in China[66]. - The company plans to sell a 14.73% stake in Jinyu Limited for a cash consideration of HKD 110 million, pending shareholder approval[69]. - The company issued 280,000 new shares at a subscription price of HKD 0.20 per share to a major shareholder, representing approximately 28.00% of the issued share capital[114]. Audit and Compliance - The consolidated financial statements for the year ended December 31, 2021, have been audited by Tianji Hong Kong CPA Limited[148]. - The Audit Committee reviewed the audited annual results for the year ended December 31, 2020, and the unaudited interim results for the six months ended June 30, 2021, providing recommendations to the Board for approval[167]. - The Audit Committee held two meetings during the year ended December 31, 2021, fulfilling its requirement to meet at least twice a year[165].
百德国际(02668) - 2021 - 年度财报