亚证地产(00271) - 2023 - 年度财报

Financial Performance - The Group's revenue for the year ended December 31, 2023, was HK$46,884,000, an increase of HK$8,505,000 or 22% compared to HK$38,379,000 in 2022[10]. - The profit for the year amounted to HK$264,999,000, a turnaround from a loss of HK$43,701,000 in 2022[10]. - Earnings per share were HK21.36 cents, compared to a loss per share of HK3.52 cents in the previous year[10]. - The fair value gain of investment properties was HK$259,453,000, compared to a fair value loss of HK$27,457,000 in the previous year[12]. - Total assets rose from HK$1,741,114,000 in 2022 to HK$2,603,968,000 in 2023, with net assets increasing from HK$1,554,105,000 to HK$1,822,751,000[20]. - The Group's gearing ratio (net debt over total equity) was 26$1,741,114,000 in the previous year to HK$2,603,968,000[18]. - Total liabilities increased from HK$187,009,000 as of December 31, 2022, to HK$781,217,000 as of December 31, 2023, representing a ratio of total liabilities to total assets of approximately 30$130,495,000 as of December 31, 2023, down from HK$147,668,000 in 2022[21]. Property Management and Development - The average occupancy rate of commercial properties at Harbour Crystal Centre was approximately 99%[16]. - The recently acquired shopping arcade, Concord Square, is under refurbishment and expected to operate in late 2024[17]. - The disposed properties in Billion Centre recorded a 100% average occupancy rate during the six months held by the Group[17]. - The refurbishment of Concord Square is expected to be completed by year-end, leading to new rental lease signings later this year, with a mild uplift in total rental revenue expected for the current year[47]. - Concord Square, which primarily serves the local community in Tsuen Wan, is expected to perform well upon reopening[48]. Corporate Governance - The Board held six meetings during the year to discuss overall strategy and financial performance[65]. - All Independent Non-Executive Directors (INEDs) confirmed their independence, meeting the guidelines set out in Rule 3.13 of the Listing Rules[64]. - The Company has established a mechanism for Directors to seek external independent professional advice at the Company's expense[74]. - The Board's functions and management responsibilities are formalized and reviewed regularly to ensure compliance with existing regulations[68]. - The Company has a policy for handling conflicts of interest among Directors during Board meetings[73]. - The Board currently has one female Director out of six Directors, achieving a gender diversity representation of 16.7%[83]. - The Company aims to maintain at least the current level of female representation on the Board and gradually increase it as suitable candidates are identified[83]. Risk Management - The Group adopts a comprehensive risk management framework, regularly reviewing and updating policies to respond to market changes and business strategies[187]. - Financial risks include market risk, credit risk, and liquidity risk, with market risk further divided into interest rate risk, foreign currency risk, and other price risks[191]. - Operational risks are mitigated through robust internal controls, clear lines of responsibility, and effective internal reporting systems[192]. - The Group's business and profitability growth are affected by uncertainties in the property market, including supply and demand, government interventions, and interest rate changes[193]. Shareholder Engagement - The Company actively engages with shareholders through various formal channels, including interim and annual reports, announcements, and circulars[158]. - The AGM serves as a valuable forum for direct communication between the Board and shareholders, with key committee chairmen available to answer questions[159]. - The Company has established procedures for shareholders to propose resolutions and request extraordinary general meetings, ensuring active participation[165][166]. Sustainability Initiatives - The Group is committed to long-term sustainability, aiming to reduce environmental impacts by minimizing paper and electricity consumption and promoting electronic communication[198].