CONTENTS
- Corporate Information
- Performance Highlights
- Financial Highlights and Summary
- Chairman's Statement
8 Management Discussion and Analysis
14 Directors' Profile
24 Directors' Report
- Corporate Governance Report
- Independent Auditor's Report
- Consolidated Statement of Profit or Loss
- Consolidated Statement of Profit or Loss
and Other Comprehensive Income
- Consolidated Statement of Financial Position
- Consolidated Statement of Changes in Equity
- Consolidated Statement of Cash Flows
- Notes to the Consolidated Financial Statements
- Particulars of Properties held by the Group
CHOICE OF LANGUAGE OR MEANS OF RECEIPT OF CORPORATE COMMUNICATIONS
This annual report is now available in printed form in English and in Chinese, and on the website of the Company.
If (i) registered shareholders/noteholders, who have received or chosen to receive a printed copy of this annual report, wish to receive the same in the other language; or (ii) registered shareholders/noteholders, who have received or chosen to receive or are deemed to have consented to receive this annual report by electronic means, wish to receive a printed copy, or who for any reason have difficulty in receiving or gaining access to this annual report on the Company's website, they may obtain the same free of charge by sending a request to (a) in the case of registered shareholders, the Company's Hong Kong branch share registrar and transfer office, Computershare Hong Kong Investor Services Limited ("Computershare"), by post to 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong or by email at sunevision@computershare.com.hk; or (b) in the case of noteholders, the Company's registrar in respect of the convertible notes, Tricor Investor Services Limited ("Tricor"), by post to Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong or by email at sunevision-ecom@hk.tricorglobal.com.
For registered shareholders/noteholders who wish to change their choice of language or means of receipt of the Company's future corporate communications free of charge, they may at any time notify (i) in the case of registered shareholders, Computershare, by post or by email (at the address or email address mentioned above); or (ii) in the case of noteholders, Tricor, by post or by email (at the address or email address mentioned above).
Corporate Information
BOARD OF DIRECTORS
Executive Directors
Kwok Ping-luen, Raymond (Chairman)
Fung Yuk-lun, Allen (Vice Chairman)
Tong Kwok-kong,Raymond (Chief Executive Officer)
Tung Chi-ho, Eric
Non-Executive Directors
Cheung Wing-yui(Vice Chairman)
Kwok Kai-wang, Christopher
David Norman Prince
Siu Hon-wah, Thomas
Chan Hong-ki, Robert
Independent Non-Executive Directors
Li On-kwok, Victor
King Yeo-chi, Ambrose
Wong Kai-man
Kwok Kwok-chuen
Lee Wai-kwong, Sunny
COMPANY SECRETARY
Au King-lun, Paulina
AUDIT COMMITTEE
Wong Kai-man (Committee Chairman)
Cheung Wing-yui
Li On-kwok, Victor
King Yeo-chi, Ambrose
REMUNERATION COMMITTEE
King Yeo-chi, Ambrose (Committee Chairman)
Fung Yuk-lun, Allen
Cheung Wing-yui
Li On-kwok, Victor
Wong Kai-man
NOMINATION COMMITTEE
Li On-kwok,Victor (Committee Chairman)
Cheung Wing-yui
King Yeo-chi, Ambrose
Wong Kai-man
CORPORATE GOVERNANCE COMMITTEE
Cheung Wing-yui (Committee Chairman)
Fung Yuk-lun, Allen
Kwok Kwok-chuen
AUTHORISED REPRESENTATIVES UNDER THE LISTING RULES
Fung Yuk-lun, Allen
Au King-lun, Paulina
REGISTERED OFFICE
PO Box 309, Ugland House
Grand Cayman, KY1-1104
Cayman Islands
HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS
Unit 3110, 31/F, Standard Chartered Tower
Millennium City 1, 388 Kwun Tong Road
Kwun Tong, Kowloon, Hong Kong
LEGAL ADVISERS
As to Hong Kong Law
Woo Kwan Lee & Lo
As to Cayman Islands Law
Maples and Calder
AUDITOR
Deloitte Touche Tohmatsu
PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE
SMP Partners (Cayman) Limited Royal Bank House - 3rd Floor
24 Shedden Road, P.O. Box 1586 Grand Cayman, KY1-1110 Cayman Islands
HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE
Computershare Hong Kong Investor Services Limited
Shops 1712-1716
17th Floor, Hopewell Centre
183 Queen's Road East
Wanchai, Hong Kong
REGISTRAR IN RESPECT OF
THE CONVERTIBLE NOTES
Tricor Investor Services Limited
Level 54, Hopewell Centre
183 Queen's Road East
Hong Kong
PRINCIPAL BANKERS
Bank of China (Hong Kong) Limited
The Hongkong and Shanghai Banking Corporation Limited Sumitomo Mitsui Banking Corporation
Industrial and Commercial Bank of China (Asia) Limited Bank of Communications Co., Ltd. Hong Kong Branch Standard Chartered Bank (Hong Kong) Limited
China Construction Bank Corporation Hong Kong Branch Agricultural Bank of China Limited
The Bank of East Asia, Limited Mizuho Bank, Ltd.
STOCK CODE
1686
WEBSITE
www.sunevision.com
SUNeVision Holdings Ltd. Annual Report 2018/19 | 1 |
Performance Highlights
Financial
Performance
Operating History 20yrs
DC locations*
5+2
Total DC GFA*
2.8million square feet
Subsea cable
PoPs**
11
Number of cross-connect cables
13,000+
2 SUNeVision Holdings Ltd. Annual Report 2018/19
Revenue
Growth
19%
EBITDA
Growth
20%
Prot
Growth
11%
Operational
Metrics
- Including TWTL 428 and TKOTL 131 sites
- Point of Presence
Financial Highlights and Summary
FINANCIAL HIGHLIGHTS
1 Jan 19- | 1 Jul 18- | 1 Jan 18- | 1 Jul 17- | |||
For the period | 30 Jun 19 | 31 Dec 18 | 30 Jun 18 | 31 Dec 17 | ||
HK$'000 | HK$'000 | HK$'000 | HK$'000 | |||
Revenue | 865,081 | 760,015 | 723,403 | 641,365 | ||
Cost of sales | (370,898) | (325,018) | (304,948) | (260,788) | ||
Gross profit | 494,183 | 434,997 | 418,455 | 380,577 | ||
Other income | 14,020 | 8,213 | 8,939 | 15,885 | ||
Operating expenditure* | (73,726) | (48,539) | (45,771) | (39,387) | ||
Profit from operations | 434,477 | 394,671 | 381,623 | 357,075 | ||
Other gains | 105,000 | 90,000 | 71,664 | 93,164 | ||
Finance costs | (17,577) | (7,243) | (7,340) | - | ||
Profit before taxation | 521,900 | 477,428 | 445,947 | 450,239 | ||
Income tax expense | (68,193) | (65,941) | (61,748) | (58,065) | ||
Profit for the period attributable to Owners of the Company | 453,707 | 411,487 | 384,199 | 392,174 | ||
EBITDA** (excluding the effect of other gains) | ||||||
Data centre business | 541,161 | 465,869 | 446,349 | 381,244 | ||
Other businesses | 26,233 | 23,092 | 24,758 | 29,054 | ||
567,394 | 488,961 | 471,107 | 410,298 | |||
* | Selling, general and administrative expenses | |||||
** | Earnings before interest, tax, depreciation and amortisation | |||||
FINANCIAL SUMMARY | ||||||
Results | Year ended 30 June | |||||
2019 | 2018 | 2017 | 2016 | 2015 | ||
HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | ||
Revenue | 1,625,096 | 1,364,768 | 1,141,757 | 998,970 | 918,123 | |
Profit for the year | 865,194 | 776,373 | 631,435 | 548,991 | 569,402 | |
Assets and Liabilities | As at 30 June | |||||
2019 | 2018 | 2017 | 2016 | 2015 | ||
HK$'000 | HK$'000 | HK$'000 | HK$'000 | HK$'000 | ||
Total assets | 13,636,503 | 7,093,933 | 5,633,746 | 4,622,951 | 4,207,989 | |
Total liabilities | (9,445,358) | (3,166,198) | (1,934,800) | (1,044,618) | (691,631) | |
Total equity | 4,191,145 | 3,927,735 | 3,698,946 | 3,578,333 | 3,516,358 | |
SUNeVision Holdings Ltd. Annual Report 2018/19 | 3 |
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