Financial Performance - For the fiscal year ending June 30, 2024, the group's attributable profit was HKD 64.3 million, compared to a loss of HKD 19.5 million in the previous year[7]. - The group's revenue for the fiscal year was HKD 133.7 million, slightly down from HKD 136.3 million in the previous fiscal year[7]. - Earnings per share for the fiscal year were HKD 0.0562, a significant improvement from a loss per share of HKD 0.0171 in the previous year[7]. - The group recorded a net profit attributable to shareholders of HKD 1.052 billion for the fiscal year, excluding a loss of HKD 40.9 million from fair value changes of financial instruments[11]. - The group held cash and bank deposits of HKD 1.248 billion as of June 30, 2024, with no outstanding debts, indicating a strong financial position[16]. Dividends - The board proposed a final dividend of HKD 0.015 per share, compared to no dividend in the previous fiscal year, bringing the total dividend for the year to HKD 0.03 per share[8]. - The company declared an interim dividend of HKD 0.015 per share, totaling HKD 17,140,000 distributed to shareholders[171]. - The company plans to distribute a final dividend of HKD 0.015 per share, totaling HKD 17,300,000 to shareholders listed on the register as of October 30, 2024[171]. - The company aims to provide dividends that are consistent and, where appropriate, increase in line with business performance[130]. Visitor Statistics - The number of visitors to Hong Kong for the fiscal year was 42.27 million, a substantial increase from 13.41 million in the previous year[9]. - Visitors from mainland China accounted for 78% of total arrivals, totaling 32.79 million, compared to 10.42 million in the previous year[9]. - In 2023, the number of tourists in Hong Kong rebounded to 52.2% of pre-pandemic levels, with expectations to improve to 69.1% by mid-2024[28]. - The individual travel plan will expand to 59 cities in mainland China, enhancing accessibility for travelers to Hong Kong[28]. Hotel Performance - City Garden Hotel achieved an average room occupancy rate of 100% for the fiscal year, with rental income rising to HKD 87.9 million, a 5.1% increase year-on-year[12]. - Hong Kong Park Lane Hotel reported an average room occupancy rate of 69.1%, up from 50.3% the previous year, with rental income increasing to HKD 357.7 million, a 4.8% year-on-year rise[13]. - Royal Pacific Hotel's average room occupancy rate improved to 83% from 55% last year, with rental income reaching HKD 249.9 million, an 8% increase year-on-year[14]. Sustainability Initiatives - The group was recognized in the top ten of the Greater China Hotel Industry Sustainability Index for two consecutive years, highlighting its commitment to sustainable development[19]. - The group received the "ESG Measures Award - Gold" at the HR Excellence Awards 2023/24, acknowledging its efforts in integrating ESG practices into operations[19]. - The company aims to reduce greenhouse gas emissions by 30% by 2030, having already achieved a reduction of 40.26% as of June 30, 2024, equivalent to planting 202,584 trees[20]. - The company has committed to eliminating all single-use plastic products in its core business by 2035, with a target to provide non-plastic alternatives by April 2024[21]. - The company has installed 72 solar panels at the City Garden Hotel, generating approximately 20,822 kWh of electricity annually, promoting renewable energy development in Hong Kong[20]. Employee Development and Diversity - The group continues to implement a comprehensive talent development strategy, including a successful management trainee program launched in July 2023[17]. - The company has launched the "Sino Women Connect Program" to promote diversity and inclusion among female employees, enhancing their professional skills and confidence[24]. - The group has established a "Diversity and Inclusion Policy" to ensure equal opportunities for all employees, regardless of gender, disability, or other factors[67]. - The average training hours per employee as of June 30, 2024, were 44.42 hours for male employees and 39.35 hours for female employees, reflecting a commitment to employee development[72]. Risk Management and Governance - The group has established a comprehensive risk management framework to monitor environmental, social, and governance-related risks[37]. - The company has adopted a corporate risk management system to assist the board in managing significant risks[113]. - The internal control system is integrated with the risk management framework, ensuring continuous identification and assessment of risks[114]. - The Audit Committee conducted an annual review of the effectiveness of the risk management and internal control systems for the fiscal year ending June 30, 2024[115]. Community Engagement - The company has donated over 53,300 bowls of soup to elderly residents in need since 2011 through its "Love Soup Action" initiative[23]. - The group has recorded over 290 hours of volunteer service in Hong Kong as of June 30, 2024[84]. - The group has actively participated in the "Food Waste Reduction Hong Kong" initiative since 2013, promoting good practices and supporting food donation where feasible[54]. Compliance and Legal Matters - The company has complied with all corporate governance code provisions as of June 30, 2024, according to the Hong Kong Stock Exchange listing rules[88]. - The company has not recorded any incidents of child or forced labor violations as of June 30, 2024, reinforcing its commitment to ethical labor practices[74]. - The group has not identified any significant legal cases related to bribery, extortion, fraud, or money laundering as of June 30, 2024[83]. Shareholder Communication - The company ensures effective communication with shareholders through various channels, including financial reports and regular meetings with analysts and fund managers[125]. - The company’s website features an "Investor Information" section that is regularly updated to provide shareholders with timely information[127]. - The company allows shareholders to choose the language and format of communications, enhancing accessibility and understanding[128].
SINO HOTELS(01221) - 2024 - 年度财报