Financial Performance - The company reported a net profit of 3.3 million compared to 2020[7]. - The company's revenue for 2021 reached 54.2 million in 2020[29]. - Other income decreased significantly to 8.1 million in the previous year, primarily due to a drop in interest income from fixed income investments[31]. - The company's net profit after tax for the year was 73.2 million in 2020, reflecting a decrease of 18.6 million, impacting overall profitability[30]. - Administrative expenses increased slightly to 10.5 million, attributed to business expansion efforts[34]. - The pre-tax profit from self-investment business was 83.9 million in the previous year[29]. - The company reported a significant improvement in the fair value of investment properties, from a loss of 0.1 million in 2021[34]. - The financial services business generated a pre-tax profit of 4.2 million in the previous year[29]. - In 2021, the group achieved a pre-tax profit of 4.2 million in 2020, primarily due to a reduction in other income, partially offset by an increase in interest income from guarantee financing[40]. Dividends and Shareholder Returns - The company plans to distribute a final dividend of HK$0.12 per share based on its dividend policy[7]. - The company plans to distribute a final dividend of HKD 0.12 per share for the fiscal year ending December 31, 2021, compared to no dividend in 2020[90]. - The proposed final dividend distribution date is July 18, 2022, pending shareholder approval at the annual general meeting[91]. Investment Strategy - The company aims to explore opportunities to expand its financial services for both individual and institutional clients[9]. - The investment portfolio generated significant returns, with fair value increases in non-listed investments[8]. - The company will continue to seek high-quality commercial property investment opportunities in Hong Kong and other regions[9]. - The company plans to expand its property portfolio, focusing on commercial properties in Hong Kong and other regions when suitable investment opportunities arise[13]. - The self-investment business aims to identify investment opportunities across various sectors, enhancing risk-balanced returns and equity value[13]. - The company has diversified its self-investment portfolio, investing in funds, bonds, and equity investments, including both listed and unlisted entities[13]. - The company remains optimistic about the investment potential in the Genesis fund, anticipating significant growth opportunities in the technology and consumer sectors due to a stable economic environment in China[51]. - The company is monitoring foreign exchange risks, primarily operating in USD and HKD, with minimal exposure due to the peg between HKD and USD[72]. Risk Management - The company continues to adopt a prudent approach to risk management and maintain business profitability in its lending operations[13]. - The group has implemented stricter risk control and management systems, including optimized loan approval and monitoring processes[43]. - The group reported no bad debts during the year, indicating effective credit risk management[45]. - The company faces market risks due to fluctuations in market prices, interest rates, and other factors that could significantly impact its operating performance[122]. - Currency fluctuations may adversely affect the company's financial performance, as it earns revenue and incurs expenses in various currencies[126]. - The company is exposed to credit risk, which refers to the potential loss from borrowers or counterparties failing to meet their financial obligations[129]. - The company faces risks related to third-party defaults, which may arise from various business activities including derivative contracts and credit provisions[130]. - The company regularly reviews credit risks, but default risks may stem from unforeseen events or circumstances[130]. - The company is subject to extensive regulatory changes that may impact its operations and increase compliance costs[133]. Corporate Governance - The company has adopted the Corporate Governance Code and is committed to enhancing governance standards[147]. - The board consists of one non-executive director, two executive directors, and three independent non-executive directors, ensuring a diverse composition[148]. - The audit committee is composed entirely of independent non-executive directors, responsible for reviewing the financial reporting process and internal control procedures[155]. - The company has a whistleblowing policy to allow employees and stakeholders to report concerns about misconduct[156]. - The board aims to maintain a balanced range of skills, experience, and backgrounds, considering various factors such as gender, age, and professional experience[188]. - The company emphasizes the importance of board diversity as a key element of high corporate governance standards[186]. - The company has adopted a board diversity policy to enhance the effectiveness of the board's decision-making process[148]. - The company has received annual confirmations regarding the independence of all independent non-executive directors[150]. Market Outlook - The company anticipates a gradual recovery in the Hong Kong IPO market in 2022, driven by an expanded and diversified financing platform[8]. - The company expects the delayed IPOs from 2021 to return to the market in 2022 as cross-border restrictions ease[77]. - The overall office market vacancy rate in Hong Kong continues to rise, hindering rental recovery in 2021[54]. - The company has been focusing on high-quality commercial property investments, particularly in Hong Kong, due to travel restrictions from COVID-19[54]. Employee and Stakeholder Relations - Employee compensation is generally reviewed annually based on performance and market conditions, with additional benefits including medical insurance and stock options[137]. - The company emphasizes maintaining good relationships with stakeholders, including customers and borrowers[138]. Audit and Compliance - The audit committee is responsible for reviewing financial reports and risk management processes, ensuring transparency and compliance[143]. - The company reviews and monitors compliance with legal and regulatory requirements as part of its governance practices[153]. - The company has engaged Deloitte Touche Tohmatsu Certified Public Accountants Limited as its auditor for the financial statements[200].
国际资源(01051) - 2021 - 年度财报