Financial Performance - The group's net loss for the year ended December 31, 2023, was approximately HKD 47.1 million, compared to a net profit of approximately HKD 17.5 million in 2022[11]. - Rental income for the year ended December 31, 2023, was approximately HKD 27.8 million, a decrease of about 5.3% from 2022, primarily due to increased rental concessions given to tenants[8]. - The company's revenue for the year 2023 was HKD 27.8 million, a decrease of 5.1% compared to HKD 29.3 million in 2022[19]. - The total market value of the group's investment properties as of December 31, 2023, is approximately HKD 851.3 million, a decrease of about HKD 56.7 million compared to 2022[8]. - The net change in fair value of investment properties showed a significant decline of HKD 56.7 million in 2023, compared to an increase of HKD 5.1 million in 2022[19]. - The company reported a loss attributable to equity holders of HKD 47.1 million for 2023, contrasting with a profit of HKD 17.5 million in 2022[19]. - The total equity attributable to equity holders decreased to HKD 882.3 million as of December 31, 2023, down from HKD 934.5 million in the previous year[19]. - The basic loss per share for 2023 was HKD 0.1219, compared to earnings of HKD 0.0454 per share in 2022, indicating a shift from profit to loss[32]. - The company held cash and bank deposits of approximately HKD 42.6 million as of December 31, 2023, down from HKD 53.7 million in 2022[35]. - The company recorded other comprehensive expenses of approximately HKD 6.2 million in 2023, down from approximately HKD 22.2 million in 2022[9]. Investment Properties - The fair value of the group's investment properties decreased by approximately HKD 56.7 million in 2023, reflecting a worsening market for commercial retail and residential investment properties in Hong Kong[11]. - The company has no major plans for significant investments or acquisitions due to the uncertain market outlook[15]. - The group continues to hold a 10% investment in Epic Capital Development Fund I, L.P., which is involved in a property redevelopment project in Kowloon[8]. - The fair value of the investment in the fund was approximately HKD 89.5 million as of December 31, 2023, representing a slight increase from HKD 88.6 million in 2022[30]. - The company did not acquire any investment properties during the fiscal year[179]. - As of December 31, 2023, the company had investment properties with a book value of approximately HKD 225.1 million pledged for bank loans, down from HKD 257.4 million in 2022[43]. Corporate Governance - The board proposed no final dividend for the year ending December 31, 2023, consistent with 2022[52]. - The company has adopted a corporate governance code in compliance with the Stock Exchange Listing Rules, ensuring adherence to all applicable provisions for the year ending December 31, 2023[65]. - The board consists of seven members, including four executive directors and three independent non-executive directors[66]. - The independent non-executive directors have confirmed their independence in accordance with the guidelines set out in the Listing Rules[72]. - The company has established sufficient risk management procedures to identify and control various risks[47]. - The board is responsible for managing all significant matters, including policy formulation, overall strategy, and risk management systems[66]. - The company has implemented a diversity policy to attract and retain female employees[80]. - The board has established clear terms of reference for its committees, including the Audit, Remuneration, and Nomination Committees[92]. - The company has arranged appropriate liability insurance for directors against legal responsibilities arising from company affairs[90]. - The company confirmed compliance with internal policies and non-competition agreements regarding property transactions[166]. Environmental, Social, and Governance (ESG) Initiatives - The company has complied with the "comply or explain" provisions of the environmental, social, and governance (ESG) reporting guidelines for the year ending December 31, 2023[133]. - The company is committed to minimizing its environmental footprint through effective resource utilization and promoting environmental awareness among employees and tenants[139]. - The company encourages energy-saving practices, such as using energy-efficient equipment and promoting employee awareness to reduce energy consumption[140]. - The total electricity consumption for the headquarters was approximately 16,995 kWh in the current year, compared to 16,117 kWh in 2022, resulting in CO2 equivalent emissions of about 6,628.05 kg[143]. - Water consumption for the headquarters was approximately 0.92 cubic meters, up from 0.83 cubic meters in 2022, with a water usage intensity of about 0.13 cubic meters per employee[144]. - The total paper usage during normal operations was approximately 491.01 kg, an increase from 435.94 kg in 2022, with CO2 equivalent emissions from paper usage totaling about 2,356.85 kg[145]. - The company has not generated any hazardous waste during its operations, and its environmental impact is considered minimal due to the nature of its business[139]. Employee and Social Responsibility - The employee turnover rate for 2023 was 0%, with a total of 7 full-time employees, maintaining the same number as in 2022[148]. - The gender ratio of employees in 2023 was 28.6% male and 71.4% female, consistent with the previous year[149]. - The company made a charitable donation of HKD 50,000 during the year, compared to none in the previous year[177]. - A donation of HKD 50,000 was made to the Wing Lee Entrance Scholarship at the University of Hong Kong to encourage youth to achieve their personal goals[160]. - The company has not recorded any industrial accidents or workdays lost due to occupational injuries during the reporting period[152].
永利地产发展(00864) - 2023 - 年度财报