Financial Performance - For the year ended December 31, 2021, the group's revenue was approximately MOP 292.3 million, a decrease of about 42.3% compared to MOP 506.3 million in the same period last year[1]. - The group reported a loss of approximately MOP 29.1 million for the year ended December 31, 2021, compared to a profit of approximately MOP 45.7 million for the year ended December 31, 2020[1]. - The basic loss per share for the year ended December 31, 2021, was approximately 5.8 Macanese cents, down from a basic earnings per share of 9.1 Macanese cents in 2020[1]. - The group's gross profit for the year was MOP 1.4 million, significantly lower than MOP 80.4 million in the previous year[5]. - The segment performance for renovation services showed a profit of MOP 19,119,000 in 2021, down from MOP 77,743,000 in 2020, indicating a decline of 75.5%[47]. - The company incurred a pre-tax loss of MOP 28,082,000 in 2021, compared to a profit of MOP 52,804,000 in 2020[47]. - The company reported a total administrative expense of MOP 42,225,000 in 2021, compared to MOP 25,211,000 in 2020[47]. - The income tax expense for 2021 was 1,010 thousand MOP, a significant decrease from 7,076 thousand MOP in 2020[59]. - The group recorded a net loss of approximately MOP 29.1 million for the year ended December 31, 2021, compared to a net profit of approximately MOP 45.7 million in 2020[80]. Revenue Breakdown - Revenue from renovation services was MOP 291,961,000, while maintenance and repair services generated MOP 325,000 in 2021[38]. - Geographically, revenue from Macau was MOP 277,393,000, down 35.5% from MOP 431,014,000 in 2020, and revenue from Hong Kong was MOP 14,893,000, down 80.2% from MOP 75,252,000 in 2020[38]. - Major clients contributed significantly, with Client A generating MOP 98,009,000 in 2021, down from MOP 156,973,000 in 2020[51]. Assets and Liabilities - Total assets decreased from MOP 495.0 million in 2020 to MOP 456.0 million in 2021[9]. - The net asset value of the group decreased from MOP 306.2 million in 2020 to MOP 276.8 million in 2021[14]. - Current liabilities decreased from MOP 192.6 million in 2020 to MOP 182.2 million in 2021[10]. - Trade payables decreased to MOP 10,548,000 in 2021 from MOP 12,168,000 in 2020[72]. - As of December 31, 2021, the group had contract liabilities amounting to MOP 23,097,000, a decrease from MOP 46,533,000 in 2020[71]. Accounting Standards - The group has adopted the revised Hong Kong Financial Reporting Standards (HKFRS) effective from January 1, 2021, including HKFRS 16 related to COVID-19 rent concessions[20]. - The application of the revised HKFRS 16 has no significant impact on the group's current and past financial performance and disclosures[21]. - The board anticipates that the application of all new and revised HKFRS will not have a significant impact on the consolidated financial statements in the foreseeable future[27]. - The revised accounting standards clarify the definition of accounting estimates, which are monetary amounts in financial statements that involve uncertainty[34]. Dividends and Governance - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2021[1]. - The company does not recommend paying dividends to ordinary shareholders for the year ended December 31, 2021, and any future dividend payments will be at the discretion of the board[109]. - The board will consider various factors, including the group's actual and expected financial performance, before declaring dividends[109]. - The audit committee consists of three independent non-executive directors who reviewed the audited annual performance and discussed internal controls and financial reporting matters[117]. - The company is committed to maintaining high standards of corporate governance to safeguard shareholder interests and enhance corporate value[113]. Employee and Operational Metrics - As of December 31, 2021, the group had 90 employees, a decrease from 110 employees in 2020[106]. - Total employee costs, including director remuneration, were approximately 49.8 million Macanese Patacas for the year ended December 31, 2021, compared to 49.7 million Macanese Patacas for the year ended December 31, 2020[106]. - The increase in employee costs was primarily due to an increase in the average number of working days for daily-paid workers[106]. Other Financial Metrics - Financing costs increased significantly to MOP 4,903,000 in 2021 from MOP 2,071,000 in 2020, representing a rise of 136.5%[55]. - Cash and cash equivalents totaled approximately 39.4 million MOP as of December 31, 2021, a decrease of about 55.1% from 87.8 million MOP as of December 31, 2020[93]. - The debt-to-equity ratio as of December 31, 2021, was approximately 29.0%, up from 27.5% as of December 31, 2020, due to a decrease in total equity[95].
伟鸿集团控股(03321) - 2021 Q4 - 年度财报