ESG Management and Sustainability - The company emphasizes the importance of managing ESG risks and opportunities, particularly in response to climate change, and has updated existing policies to set ambitious yet achievable goals[22]. - The company aims to enhance its carbon emission performance and is committed to low-carbon transformation as part of its corporate social responsibility efforts[23]. - The group aims to reduce energy consumption intensity by 6% by 2027 and incorporate energy-saving measures into the selection criteria for new suppliers and investments[39]. - The total greenhouse gas emissions for the year were 3,990.38 tons of CO2 equivalent, with waste generation at 7,764.53 tons and energy consumption at 6,675.69 MWh[39]. - The group conducted a stakeholder survey to identify key ESG issues for disclosure, ensuring consistency in measuring and calculating key performance indicators[31]. - The group is committed to sustainable development through collaboration with partners, consumers, and communities to create a healthier living environment[50]. - The ESG committee monitors the group's ESG performance and develops policies and measures to manage ESG and climate-related issues[68]. - The group aims to ensure that emissions correspond with business growth by 2027[39]. - In 2023, the carbon emissions were reduced by over 70% compared to 2022[70]. - The group aims to reduce greenhouse gas emissions intensity by 6% by 2027, with a 70% reduction in waste emissions in 2023 compared to 2022[108]. - The group has established a comprehensive supplier selection process to mitigate ESG risks, focusing on diverse and responsible sourcing[96]. - The group has implemented a three-step materiality assessment to identify significant ESG issues affecting business strategy and decision-making[102]. - The group has established a matrix to assess the overall importance of 21 ESG issues based on their impact on business value and societal effects[103]. - The group plans to monitor waste generation closely to ensure alignment with business growth by 2027[108]. - The company has established a community investment strategy to ensure a positive impact on the community[93]. - The company continues to collaborate with various NGOs to support those in need within the community[93]. - Five key ESG issues identified this year include business ethics and integrity, compliance management, privacy and data security, occupational health and safety, and training and development[105]. - The group is committed to exploring solutions for environmental challenges as part of its sustainability efforts[107]. Corporate Governance - The board consists of seven members with a gender ratio of 2.5:1 as of December 31, 2023, and aims to maintain gender diversity in its composition[14]. - The company has adopted a policy for the accurate and secure handling of inside information to prevent improper management of such information[13]. - The company has retained an independent risk management firm to conduct internal audits and evaluate the effectiveness of its risk management and internal control systems[12]. - The nomination committee has held two meetings during the year, ensuring compliance with relevant laws and regulations in the candidate selection process[6]. - The audit committee is responsible for reviewing the accounting principles adopted by the group and discussing financial reporting matters, including interim and annual performance[2]. - The board is responsible for overseeing sustainability and climate-related matters, ensuring they are integrated into governance, strategy, risk management, and reporting[66]. Financial Performance - The group's total revenue for 2023 was HKD 569 million, a 19% increase from HKD 478 million in 2022[135]. - Property leasing accounted for 89% of total revenue, while property development and building management contributed 6% and 5% respectively[160]. - The group's total assets reached HKD 22,277 million in 2023, up from HKD 22,223 million in 2022[157]. - The net asset value of the group decreased to HKD 18,460 million in 2023 from HKD 19,176 million in 2022, reflecting a decline of approximately 3.7%[160]. - The group reported a loss attributable to owners of HKD 647 million in 2023, an improvement from a loss of HKD 808 million in 2022[159]. - The chairman noted that the global economic recovery was weaker than expected due to high interest rates and geopolitical factors[142]. - The group maintained a cautious outlook for 2024, considering ongoing inflation risks and central bank policies[142]. Market Strategy and Operations - The group plans to focus on expanding its property leasing portfolio in response to market conditions[152]. - The company is exploring new strategies for market expansion and potential acquisitions to enhance growth opportunities[152]. - The group reported a significant recovery in consumer traffic and rental rates, with average rental returns showing an increase during the year[164]. - Overall rental income for the group experienced a decline due to rental support measures for potential tenants and the gradual recovery of rental income[164]. - The group launched various promotional and marketing activities to enhance the competitiveness and visibility of its properties, targeting both local consumers and overseas tourists[176]. - The new industrial development project, iCITY, was completed at the end of last year and is currently in the process of tenant move-in arrangements[164]. - The group is actively expanding its mini-storage business and investing in service enhancements to meet customer expectations, including transportation services and a one-stop mini-box service[164]. - The group is focusing on identifying potential old building properties to enhance the quality and value of real estate in Hong Kong, despite a weak property transaction market due to high interest rates[182]. - The retail market is expected to recover in densely populated core areas, benefiting the group's major investment properties located in prime locations[184]. - The group recorded an increase in foot traffic and tenant sales at key properties, including the Golden Sunrise Center and its second phase, Midtown[199]. - The new industrial project, iCITY, was completed in November and has attracted significant interest from local and overseas investors, resulting in strong sales performance[200]. - The overall rental income still experienced a decline due to the need for rental support measures for certain tenants and the time required to restore rental income[199]. - The group plans to cautiously replenish land reserves and seek prudent development opportunities in the current high-interest environment[200]. - The property leasing revenue decreased from HKD 376,134,000 in 2022 to HKD 351,684,000 in 2023, reflecting the challenging market conditions[183]. - The group aims to enhance its leasing business performance by identifying more potential tenants with development opportunities[184]. - The industrial project offers 324 workspaces with flexible designs and high-quality facilities, catering to modern business needs[188]. Customer Satisfaction and Employee Development - The company prioritizes customer privacy, product quality, and cybersecurity to improve customer satisfaction and build trust[25]. - Customer satisfaction survey received 590 valid responses, with approximately 98% of respondents expressing high satisfaction with cleanliness and overall customer service[72]. - The public space cleanliness satisfaction rate was 98.8%, while customer service satisfaction was 97.6%[81]. - The company aims to gradually expand online learning resources for employees[92]. - The company has a policy in place to ensure a safe working environment for employees, with regular assessments of health and safety standards[76]. - The company is committed to developing new technologies and services to improve operational efficiency and customer satisfaction[152].
金朝阳集团(00878) - 2023 - 年度财报