Financial Performance - Total revenue for the year ended December 31, 2021, was approximately HKD 69,057,000, representing a slight increase of about 5.45% compared to the previous year[6] - The group recorded total revenue of approximately HKD 69,057,000 for the year, representing a slight increase of about 5.45% compared to HKD 65,488,000 in 2020[20] - Direct costs and operating expenses totaled approximately HKD 31,451,000, an increase of about 9.25% from HKD 28,788,000 in 2020, primarily due to increased revenue and higher employee salaries and goods costs[21] - Gross profit was approximately HKD 37,606,000, a slight decrease of about 2.47% from HKD 36,700,000 in 2020, with a gross margin of 54.45% compared to 56.04% in the previous year[23] - Selling expenses decreased by approximately 9.55% to HKD 21,347,000 from HKD 23,601,000 in 2020, mainly due to reduced advertising expenditures[24] - Administrative expenses decreased by approximately 9.97% to HKD 37,441,000 from HKD 41,588,000 in 2020, attributed to cost control measures[25] - The group recorded a net loss from continuing operations of approximately HKD 73,409,000, compared to a loss of HKD 57,447,000 in 2020[32] Business Operations - The healthcare and medical services segment operates hospitals in Hunan Province, China, and has obtained necessary licenses for medical operations, including dialysis treatment[10] - The beauty and fitness business in Shenzhen experienced a decline due to changes in consumer behavior during the pandemic, leading to the closure of a beauty center in a hotel[11] - The group terminated its integrated financial services business after selling it in March 2021 due to losses and reduced operational scale[15] - The group sold its integrated financial business in March 2021, recording a gain of approximately HKD 1,900,000 from the sale[18] - The company continues to engage in healthcare and medical services, beauty and fitness products, and integrated financial services as its main business activities[71] Assets and Liabilities - As of December 31, 2021, the total assets of the group were approximately HKD 214.81 million, a decrease from HKD 283.98 million as of December 31, 2020[41] - The group's liabilities as of December 31, 2021, were approximately HKD 83.11 million, compared to HKD 85.88 million as of December 31, 2020, resulting in a leverage ratio of approximately 38.7%[41] - The net current assets of the group as of December 31, 2021, were approximately HKD 61.35 million, down from HKD 96.53 million as of December 31, 2020, with a current ratio of approximately 1.80[41] - The cash and bank balances of the group as of December 31, 2021, were approximately HKD 110.74 million, a decrease from HKD 141.73 million as of December 31, 2020[42] - The debt-to-equity ratio of the group as of December 31, 2021, was approximately 125.4%, significantly up from 63.5% as of December 31, 2020[43] Corporate Governance - The company has experienced changes in its board of directors, with Yu Qi Gang resigning as chairman and Yu Zhou Jie appointed as the new chairman[59] - The company has a strong management team with over 20 years of experience in financial investment, trade, and real estate development[61] - The company’s independent non-executive directors have extensive backgrounds in finance and management, enhancing corporate governance[66] - The board consists of 2 executive directors, 2 non-executive directors, and 3 independent non-executive directors, ensuring a balanced distribution of expertise[126] - The audit committee consists of three independent non-executive directors, ensuring compliance with the corporate governance code[112] Risk Management - The board is committed to implementing effective and robust risk management and internal control systems to protect shareholder interests and group assets[161] - The group conducts an annual risk assessment to identify potential strategic, operational, financial, and compliance risks, categorizing them as high, medium, or low[163] - An external consultant has been appointed to assist in the independent review of the group's risk management and internal control systems, ensuring their adequacy and effectiveness[164] - The board reviews the effectiveness of the risk management and internal control systems annually, confirming that the group maintained sufficient and effective systems during the year[164] Shareholder Communication - The company emphasizes the importance of maintaining communication with shareholders and investors through various channels, including financial reports and announcements on its website[176] - The company provides a platform for shareholders to exchange views with the board of directors during the annual general meeting, where management answers shareholder questions[177] - Shareholders have the right to request a special general meeting if they hold at least 10% of the paid-up capital, with the meeting to be held within two months of the request[173] Environmental, Social, and Governance (ESG) - The company is committed to sustainable development and aims to balance economic growth, environmental protection, and social responsibility[186] - The board of directors directly manages the overall environmental, social, and governance (ESG) strategy and is responsible for approving related policies and guidelines[187] - The company has established comprehensive environmental management policies to achieve its environmental protection goals[196] - The company promotes a paperless office environment to reduce indirect emissions from waste paper[200] - The company encourages the use of energy-saving equipment in operations to reduce electricity consumption[200]
格林国际控股(02700) - 2021 - 年度财报