Financial Performance - The group recorded a consolidated profit attributable to shareholders of approximately HKD 125 million for the year ended December 31, 2022, down from approximately HKD 500 million in 2021, reflecting a decrease of 75%[5]. - Total revenue decreased to HKD 678 million, down from HKD 728 million in 2021, with 66% from Singapore and 29% from Hong Kong[16]. - The food business remained the main revenue source, accounting for 83% of total revenue, but experienced a 6% decline due to ongoing pandemic control measures, particularly in Hong Kong[16]. - The group recorded a consolidated profit attributable to shareholders of HKD 125 million for the year, a decrease from HKD 500 million in 2021, primarily due to fair value losses on financial instruments and reduced profits from joint ventures[16]. - The group’s share of profits from joint ventures was HKD 554 million, a decrease from HKD 636 million in 2021, attributed to reduced profit contributions from equity-accounted investments[27]. Market and Business Environment - The group's food retail business continued to be impacted by COVID-19 restrictions, particularly in Hong Kong, but showed signs of recovery after the lifting of dining and social gathering restrictions[10]. - The group is focused on creating value for stakeholders while navigating the challenging market environment in 2023, following significant bank failures in March 2023[11]. - The group remains confident in the long-term prospects of its food business despite facing challenges such as intense competition and high operating costs[10]. - The group anticipates that the economic growth rate in Singapore for 2023 will range between 0.5% and 2.5% amid a challenging operating environment[55]. Investments and Acquisitions - OUE Limited, a major associate of the group, achieved higher growth due to its resilient and diversified businesses in real estate, healthcare, and consumer sectors[5]. - Healthway Medical Corporation Limited expanded its network by acquiring three new clinics in Singapore, bringing its total to over 100 clinics and medical centers, making it one of the largest outpatient chains in Singapore[8]. - OUE Group's First Real Estate Investment Trust acquired 12 aged care facilities in Japan and two additional facilities from a third party, enhancing its portfolio in mature markets[7]. - The group plans to open two hospitals in mainland China, with the Changshu Hospital expected to be operational in 2023 and the Taiziwan Hospital in 2024, providing a total of approximately 340 beds[22]. - The group sold its entire stake in 12 nursing homes in Japan for SGD 165.9 million, equivalent to approximately HKD 959 million, enhancing its interest in First REIT[26]. Financial Assets and Securities - The group incurred a fair value loss of HKD 106 million from its securities investments in the current year, compared to a gain of HKD 219 million in 2021, indicating significant market volatility[10]. - As of December 31, 2022, the financial and securities investment portfolio was valued at HKD 1,568,000,000, down from HKD 2,115,000,000 in 2021[33]. - The fair value of financial assets measured at fair value through profit or loss was HKD 788,000,000, a decrease from HKD 1,143,000,000 in 2021[34]. - The financial and securities investment segment reported total income of HKD 16,000,000, a decrease from HKD 20,000,000 in 2021, with a net loss of HKD 98,000,000 compared to a profit of HKD 217,000,000 in the prior year[32]. Employee and Operational Management - The group had 783 full-time employees as of December 31, 2022, down from 830 employees in the previous year, with employee costs recorded at HKD 311 million compared to HKD 348 million in 2021[54]. - The company aims to minimize health and safety risks faced by employees, with safety committees established in several subsidiaries to oversee occupational health and safety[87]. - The company has a comprehensive remuneration scheme that includes various benefits beyond statutory requirements, such as paid marriage leave and medical insurance[79]. - The company provided medical insurance plans to improve employee welfare, and during the COVID-19 pandemic, it offered free surgical masks and flexible working arrangements[91]. Environmental and Social Responsibility - The company has implemented environmental policies to mitigate risks associated with extreme weather events due to climate change, including regular system backups and business continuity plans[74]. - The group has established specific privacy policies and operational procedures for handling customer identifiable personal data[181]. - The group has a whistleblowing policy to encourage reporting of suspected misconduct or non-compliance[183]. - The group made charitable donations totaling approximately HKD 6,304,000 in the reporting year[185]. Quality and Safety Standards - The group has implemented multiple management systems to ensure food safety and quality, including ISO 9001, ISO 22000, GMP, and HACCP systems[147]. - The group conducted laboratory tests to ensure that end products meet regulatory standards for microbiological quality[148]. - The group emphasizes the importance of customer privacy and third-party intellectual property rights, adhering to relevant laws and regulations[151]. - The group conducts regular retail quality assessments to ensure food safety and hygiene standards[179].
力宝(00226) - 2022 - 年度财报