Chairman's Statement
Yeung Hoi Sing, Sonny Chairman

Dear Valued Shareholders,

On behalf of the board of directors (the “Board”) of Success Universe Group Limited (the “Company”, together with its subsidiaries, the “Group”), I would like to present the annual report of the Company for the year ended 31 December 2020.

2020 was a tough and challenging year. In early 2020, the massive outbreak of COVID-19 has brought unprecedented challenges and negative impacts to people’s lives as well as the global economy. Almost no country in the world was immune to the impacts brought from such drastic downturn. On the brighter side, China has made remarkable achievements in taming the pandemic and became the only major economy to recover and achieve economic growth in 2020. Yet, a full recovery could take years as the outbreak has deeply disrupted all industries, especially for tourism, hospitality and retail businesses, putting the international travel industry almost into a halt.

The COVID-19 pandemic has taken an unprecedented heavy toll on the economies of Hong Kong and Macau, particularly in tourist-related sector. With the support and assistance from the Central Government, Hong Kong and Macau have started a new norm to combat the pandemic. The roll-out of vaccination and the global fiscal and monetary support are expected to underpin economies.

Solid Foundation Resists Market Headwinds

The tourism and gaming industries have been the pillars of Macau’s economy, with their solid foundation developed for over a century. Although the industries have been severely affected by the global outbreak of COVID-19 in 2020, we are encouraged to see that the visitation to Macau has picked up gradual momentum for recovery since the fourth quarter of 2020. Leveraging on the established foundation and the ongoing support from the Central Government, a gradual recovery on the economy in Macau, along with the tourism and gaming industries, is expected when the pandemic is eventually under control.

Macau is one of the development focuses of the Guangdong-Hong Kong-Macau Greater Bay Area, which expedites Macau as a world centre of tourism and leisure, and fosters its diversified tourism development in the area. As a world-class integrated casino-entertainment resort and a market leader in the culturally rich Inner Harbour of Macau, our flagship investment project — Ponte 16 is committed to the continual improvement on operations, while actively cooperating with neighbouring communities to promote local tourism. Ponte 16 endeavours to achieve a sustainable development by introducing diversified tourist experience with the unique culture of the Inner Harbour.

The Macau Government has recently announced the expansion plan to extend the city’s Light Rail Transit (LRT) rail system to link with Hengqin in Zhuhai, which will connect the high speed rail system in the Mainland China. The Group believes that this major infrastructural enhancement will increase the appeal of Macau and attract more tourists from the Mainland China due to its convenience and splendid offerings. Ponte 16 will continue to strive for self-improvement and more importantly, to provide tourists and residents in Macau with premium facilities, warmest hospitality and superb entertainment experience, in preparation for the rebound of Macau’s economy.

Resilience and Flexibility Are Keys to Success

The digital transformation, sped up by the pandemic, will continue to drive the demand for online travel services. To fully capture this change in consumer behaviour, the Group will continue to devote resources into its online platform development, product innovation, service quality, precision marketing and refined management. We trust that our perseverance and resilience will bring us through the headwinds and lay an even stronger foundation for a long term and sustainable development in the travel industry.

The pandemic also brought significant impacts on the economy of Hong Kong, causing downturns in commercial property value, office rental and trade volume. The Group will continue to closely monitor the commercial property market and to adjust its investment portfolio flexibly. Besides, the Group diversified its investments into listed equity securities to utilise the Group’s available resources. With an aim to create capital appreciation for shareholders in the long run, the Group will stay attentive to the global market and identify potential opportunities.

Shaping a Solid Future

The roll-out of vaccination gives hopes to the recovery of global economy and international tourism in the medium term. Yet, to stay resilient in the evolving conditions and possibly lingering uncertainty ahead, the Group will continue to strengthen our market position through diversified development and optimisation of its corporate strategy. In the meantime, the Group will stay committed to achieving a sustainable development and uplifting our customer service quality to maintain our business edge. We are in good faith that our solid fundamental and proactive business strategies will gain a strong foothold in the market.

Appreciation

I would like to take this opportunity to express my sincere gratitude to our shareholders, customers and business partners for their valuable trust and support, and extend my heartfelt thanks and appreciation to our fellow directors for their guidance, to all staff for their hard work and dedication during such a challenging time. Looking ahead, we will strive to overcome future challenges, commit to enhance the value of our business, and explore new investment opportunities with an aim to deliver long-term value to our shareholders.

 

Yeung Hoi Sing, Sonny
Chairman

Hong Kong
30 March 2021