Financial Performance - The company recorded a consolidated revenue of HKD 822 million for the fiscal year ending December 31, 2023, representing a 46% increase compared to approximately HKD 561 million in the previous fiscal year[20]. - The consolidated operating loss for 2023 was HKD 89 million, a significant improvement from the HKD 215 million operating loss in 2022[20]. - The net loss attributable to shareholders for 2023 was HKD 466 million, down from HKD 598 million in 2022, with a basic loss per share of HKD 22.89 compared to HKD 29.34 in the previous year[20]. - The consolidated gross profit for the same period was HKD 547 million, up 64% from HKD 333 million in 2022, with a gross margin of 67% compared to 59% in the previous year[46]. - The company’s general and administrative expenses were HKD 665 million, a slight increase of 0.4% from HKD 662 million in 2022, primarily due to rising operational costs[46]. - The group recorded financing costs of HKD 332 million for the year ended December 31, 2023, a decrease from HKD 343 million in 2022, primarily due to reduced financing costs of guaranteed notes[47]. - The group reported a consolidated net loss after tax of HKD 466 million for the year ended December 31, 2023, compared to a net loss of HKD 598 million in 2022, with basic loss per share improving to HKD 0.2289 from HKD 0.2934[47]. - As of December 31, 2023, the company's distributable reserves amounted to HKD 4.523 billion, slightly down from HKD 4.530 billion in 2022[194]. Market and Business Development - The international tourism sector showed signs of recovery, with international visitor numbers in the Asia-Pacific region returning to 62% of pre-pandemic levels during the first three quarters of 2023[18]. - The hotel occupancy rate and revenue for the company's Niseko Hanazono Resort in Hokkaido experienced strong growth during the winter season, with international visitor numbers in Q4 2023 increasing over fivefold compared to the same period last year[22]. - The rental rate for the Pacific Century Place, Jakarta was 83% in 2023, supported by a series of sales and marketing initiatives to attract potential tenants[22]. - The company plans to continue developing high-quality property projects and is optimistic about the long-term prospects of the real estate industry in Hong Kong, Japan, Thailand, and Indonesia[18]. - The company is focusing on developing and investing in premium properties in Niseko and Thailand, as well as exploring suitable high-end development projects for long-term growth[28]. - The company aims to leverage its past successes and brand reputation to enhance opportunities in the global real estate market through new projects and joint ventures[28]. - The company is focused on identifying and developing potential projects to create better returns for stakeholders amid a continuously uncertain economic outlook[19]. Corporate Governance - The company emphasizes a corporate culture of integrity, respect, collaboration, inclusiveness, and care, aiming for continuous development[79]. - The company has adopted a self-developed securities trading code applicable to all directors and employees, ensuring compliance with the Hong Kong Stock Exchange's standards[83]. - The company has confirmed compliance with its securities trading code for the fiscal year ending December 31, 2023[84]. - The board includes independent non-executive directors with extensive experience in finance and property development, enhancing governance and oversight[72][74][76]. - The company is committed to integrating good corporate governance elements into its management structure and internal procedures[81]. - The company has maintained high levels of corporate governance, ensuring ethical conduct and compliance with applicable laws and regulations[82]. - The board comprises members with significant contributions to education, housing, and technology development, reflecting a strong governance framework[72][74]. - The board is responsible for the overall strategy, management goals, and monitoring management performance, with a focus on maintaining effective risk management and internal control systems[86]. Risk Management - The company has established a risk management and internal control system that is reviewed at least annually by the Audit Committee[122]. - The company’s risk management framework follows a "three lines of defense" model to guide its operations[123]. - The group has adopted multiple policies and procedures to assess and prudently enhance the effectiveness of its enterprise risk management and internal control systems, requiring management to conduct evaluations at least annually[129]. - The internal audit department directly reports to the board and operates independently from management functions, ensuring objective assurance on governance, risk management, and internal control effectiveness[127]. - The group utilizes the principles outlined in ISO 31000:2018 for managing business and operational risks, ensuring a structured approach to risk identification, assessment, and management[127]. - Major risks include project development risks, which may lead to delays and cost overruns due to various adverse factors[135]. - Cybersecurity threats pose significant risks, with measures in place to mitigate data breaches and operational disruptions[139]. - Business interruption risks remain high due to pandemics, cybersecurity threats, and climate change impacts, with updated continuity management policies implemented[140]. Community Engagement and Sustainability - The group has established a sustainable development committee and adopted a self-developed sustainability policy focusing on energy efficiency and waste reduction[163]. - The group’s environmental policy includes commitments to achieve green building certifications for all new development projects[163]. - The group has actively participated in community outreach activities, including charity events and blood donation drives[168]. - The company has established strategic partnerships with non-profit organizations to promote community welfare and support youth services[182]. - The company continues to support underprivileged communities through various charitable initiatives, including flea markets for residents in subdivided flats[179]. - The company has been awarded the "Caring Company" logo for five consecutive years, recognizing its efforts in corporate social responsibility[182]. Employee and Board Development - The company secretary has completed no less than 15 hours of relevant professional training to update skills and knowledge[146]. - The board of directors has participated in multiple training and continuous professional development activities during the year, enhancing their knowledge and skills[145]. - The company has adopted a shareholder communication policy to ensure timely and appropriate information is provided to shareholders and investors[147]. - The board diversity policy aims to achieve a long-term target of 30% female representation, with current female representation at 17%[104]. - The gender diversity ratio among total employees is 1:1.39, and among senior staff, it is 1:1.25[104].
盈大地产(00432) - 2023 - 年度财报