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富士高实业(00927) - 2024 - 年度财报
2024-07-17 08:47
Gender Diversity and Board Composition - The Company has maintained a gender ratio in the workforce of approximately 40.3% male and 59.7% female as of March 31, 2024, indicating a commitment to gender diversity[16] - The Company aims to maintain an appropriate balance of gender diversity in senior management and potential successors to the Board[16] - The Board consists of nine members, including one female director, as of the end of the reporting period[15] - The Company has implemented measures to promote gender diversity at all levels, including the Board and senior management[18] - The Company adopted a Board Diversity Policy to enhance performance quality by embracing differences in skills, experience, and other qualities among directors[13] Board Governance and Meetings - The Board held four meetings during the year to review financial performance, discuss corporate strategies, and approve annual budgets and financial reports[22] - The Nomination Committee conducted two meetings and reviewed the structure, size, and composition of the Board, including the independence of non-executive directors[34] - The Audit Committee held three meetings during the year, reviewing financial statements and making recommendations for Board approval[55] - The remuneration committee held two meetings during the year to review and determine the discretionary bonuses for executive directors[69] - The Board has adopted written terms of reference for its committees, including the Audit Committee, which links the Board with the Company’s auditor[55] Risk Management and Internal Controls - The board is responsible for overseeing the adequacy and effectiveness of the risk management and internal control systems[77] - The Company has adopted a risk management policy, revised in 2017 and 2020, to oversee overall risk management and report results to the Board[98] - The internal audit team independently reviews compliance with the Group's policies and evaluates the adequacy and effectiveness of internal controls[99] - The Audit Committee reviewed the effectiveness of internal controls and risk mitigation measures for the top 10 risks identified in the risk register[55] - The risk management process includes risk assessment, prioritization, and the design of internal controls for the top 10 risks[99] Compliance and Governance Policies - The Company has complied with the Corporate Governance Code, with a noted deviation from Code Provision C.2.1[7] - The Company’s governance policies are designed to ensure compliance with relevant regulations and enhance corporate governance practices[39] - The Company has established processes for complying with disclosure obligations regarding inside information[71] - The procedures for handling inside information are governed by the Model Code, ensuring compliance with disclosure obligations[99] - The Company has implemented anti-corruption and whistleblowing policies to address potential misconduct[97] Shareholder Communication and Engagement - The Board has reviewed the implementation of the Shareholder communication policy, ensuring effective communication channels with shareholders and investors[111] - The Company has adopted a formal Shareholder communication policy to provide timely access to balanced and understandable information regarding financial performance and strategic goals[110] - The Company encourages shareholders to raise inquiries through various designated contacts and online forms for prompt responses[2.3] - Shareholders are reminded to provide detailed contact information when making inquiries to facilitate timely responses from the company[2.4] - The Annual General Meeting is scheduled for August 16, 2024, providing a platform for communication with shareholders[159] Environmental, Social, and Governance (ESG) Initiatives - The Company emphasizes sustainable development, committing to reducing environmental impacts and safeguarding employee rights[119] - The ESG Committee has been established to oversee the formulation and monitoring of ESG strategies and compliance with regulations[147] - The Company is committed to reducing its environmental impact while ensuring employee rights and welfare[144] - The Board regularly reviews key ESG indicators and assesses relevant risks to maintain effective risk management[142] - The Group is committed to sustainable development, integrating environmental protection and social development into business operations[188] Financial Performance and Remuneration - The remuneration of senior management for the year is detailed, with one individual earning between HK$2,500,001 and HK$3,000,000[88] - The total remuneration paid to PricewaterhouseCoopers for audit and non-audit services was approximately HK$2,363,000, with audit services costing about HK$1,542,000[70] - The remuneration packages for executive directors are based on their duties, responsibilities, experience, and prevailing market conditions[69] - The independent non-executive directors' fees are determined based on their estimated time spent on company affairs[69] - The remuneration committee reviewed and approved the proposed remuneration packages for executive directors and senior management[69] Reporting and Documentation - The report allows stakeholders to compare the Group's performance over time through disclosed quantitative information[169] - The Group prepared the report in accordance with the "Environmental, Social and Governance Reporting Guide" to facilitate year-on-year comparisons[170] - The report adheres to the "Environmental, Social and Governance Reporting Guide" as per Appendix 27 of the Main Board Listing Rules of the Stock Exchange[196] - The Group's environmental and social performance is presented in the report, which has been approved by the Board for issue[196] - The material ESG issues identified through stakeholder communication activities are summarized in the report[181]
富士高实业(00927) - 2024 - 年度业绩
2024-06-28 11:24
Annual Results Announcement [Financial Highlights](index=1&type=section&id=Financial%20Highlights) For FY2024, revenue decreased by 8.5% to HKD 992.5 million, gross margin fell to 17.7%, and profit attributable to equity holders dropped 30.2% to HKD 17.2 million, while dividends remained at 6.0 HK cents per share - The Board of Directors is pleased to announce the audited consolidated results for the year ended March 31, 2024[5](index=5&type=chunk) - The annual results have been reviewed by the Company's Audit Committee[1](index=1&type=chunk) FY2024 Financial Highlights | Metric | 2024 (HKD Thousands) | 2023 (HKD Thousands) | Change | | :--- | :--- | :--- | :--- | | Revenue | 992,500 | 1,084,700 | Decrease 8.5% | | Gross Profit Margin | 17.7% | 19.4% | Decrease 1.7 percentage points | | Profit Attributable to Equity Holders of the Company | 17,200 | 24,600 | Decrease 30.2% | | Basic Earnings Per Share | 4.0 HK Cents | 5.8 HK Cents | Decrease 1.8 HK Cents | | Final and Special Final Dividend (Per Share) | 6.0 HK Cents | 6.0 HK Cents | Unchanged | Consolidated Financial Statements [Consolidated Statement of Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) For the year ended March 31, 2024, the Group reported HKD 992.5 million in revenue, HKD 176 million in gross profit, HKD 44.2 million in operating profit, and HKD 17.17 million in profit attributable to equity holders Consolidated Statement of Comprehensive Income Key Data | Metric | 2024 (HKD Thousands) | 2023 (HKD Thousands) | | :--- | :--- | :--- | | Revenue | 992,521 | 1,084,736 | | Cost of Sales | (816,528) | (874,369) | | Gross Profit | 175,993 | 210,367 | | Operating Profit | 44,227 | 56,748 | | Profit Before Income Tax | 57,860 | 61,118 | | Profit for the Year | 47,104 | 43,881 | | Profit Attributable to Equity Holders of the Company | 17,168 | 24,613 | | Total Comprehensive Income for the Year | 32,877 | 25,530 | - Net finance income **significantly increased from HKD 4.37 million in 2023 to HKD 13.633 million in 2024**[19](index=19&type=chunk)[28](index=28&type=chunk) [Consolidated Statement of Financial Position](index=4&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2024, the Group reported total non-current assets of HKD 142.2 million, total current assets of HKD 799.8 million, total current liabilities of HKD 266.2 million, and net assets of HKD 672 million Consolidated Statement of Financial Position Key Data | Metric | 2024 (HKD Thousands) | 2023 (HKD Thousands) | | :--- | :--- | :--- | | Total Non-current Assets | 142,244 | 124,013 | | Total Current Assets | 799,783 | 776,194 | | Total Current Liabilities | 266,159 | 220,128 | | Net Current Assets | 533,624 | 556,066 | | Total Non-current Liabilities | 3,825 | 6,846 | | Net Assets | 672,043 | 673,233 | | Equity and Reserves Attributable to Equity Holders of the Company | 570,949 | 600,586 | | Non-controlling Interests | 101,094 | 72,647 | - Property, plant and equipment **increased from HKD 83.832 million in 2023 to HKD 106.934 million in 2024**[31](index=31&type=chunk) - Cash and cash equivalents **decreased from HKD 369.796 million in 2023 to HKD 325.842 million in 2024**[9](index=9&type=chunk) Notes to the Consolidated Financial Statements [Basis of Preparation and Significant Accounting Policies](index=6&type=section&id=Basis%20of%20Preparation%20and%20Significant%20Accounting%20Policies) The Group's consolidated financial statements are prepared under HKFRS, with new and revised standards applied for the first time having no significant impact, and also list amendments issued but not yet effective - These consolidated financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the disclosure requirements of the Hong Kong Companies Ordinance (Cap. 622), and on a historical cost basis[12](index=12&type=chunk) - The Group first applied several new and revised standards for the financial year beginning April 1, 2023, including disclosures of accounting policies and definitions of accounting estimates[13](index=13&type=chunk)[34](index=34&type=chunk) - The adoption of these new and revised standards had no significant impact on the Group's consolidated financial statements for the current, any prior, or future periods[34](index=34&type=chunk) [Segment Information](index=7&type=section&id=Segment%20Information) The chief operating decision maker evaluates business performance by product segments, with ODM headphones and audio headphones generating HKD 649.2 million and accessories and components generating HKD 343.3 million in FY2024, primarily from Hong Kong and China - The chief operating decision maker (executive directors) assesses the performance of operating segments based on segment results, which exclude corporate expenses, other gains and losses, finance income, and costs[16](index=16&type=chunk)[17](index=17&type=chunk) - The Group assesses business performance from a product perspective, specifically ODM headphones and audio headphones, and accessories and components[35](index=35&type=chunk) Segment Revenue and Results (2024 vs 2023) | Segment | 2024 Revenue (HKD Thousands) | 2023 Revenue (HKD Thousands) | 2024 Results (HKD Thousands) | 2023 Results (HKD Thousands) | | :--- | :--- | :--- | :--- | :--- | | ODM Headphones and Audio Headphones | 649,191 | 764,319 | (10,715) | 22,956 | | Accessories and Components | 343,330 | 320,417 | 57,231 | 36,796 | | Total | 992,521 | 1,084,736 | 46,516 | 59,752 | - External customer revenue from Hong Kong for the year ended March 31, 2024, was approximately **HKD 970.5 million** (2023: HKD 1,057.4 million), while total external customer revenue from China was approximately **HKD 21.972 million** (2023: HKD 27.338 million)[22](index=22&type=chunk) [Operating Profit](index=9&type=section&id=Operating%20Profit) Operating profit reflects various deductions and inclusions, with a notable **increase in provision for obsolete inventories to HKD 27.459 million in 2024** among other items like depreciation and impairment provisions Operating Profit Adjustment Items (2024 vs 2023) | Item | 2024 (HKD Thousands) | 2023 (HKD Thousands) | | :--- | :--- | :--- | | Depreciation of Property, Plant and Equipment | 17,547 | 16,535 | | Depreciation of Right-of-use Assets | 7,286 | 8,374 | | Amortisation of Intangible Assets | 15 | 83 | | Provision for Obsolete Inventories | 27,459 | 110 | | Impairment Provision for Trade Receivables | 141 | 19 | | Employee Expenses (including Directors' Emoluments) | 281,682 | 293,224 | - Provision for obsolete inventories **significantly increased from HKD 0.11 million in 2023 to HKD 27.459 million in 2024**[66](index=66&type=chunk) [Income Tax Expense](index=10&type=section&id=Income%20Tax%20Expense) Income tax expense decreased to HKD 10.756 million in 2024, with Hong Kong profits tax at 16.5% (or 8.25% for eligible profits) and Chinese corporate income tax at 25% Income Tax Expense (2024 vs 2023) | Item | 2024 (HKD Thousands) | 2023 (HKD Thousands) | | :--- | :--- | :--- | | Current Income Tax | 17,122 | 16,600 | | Under/(Over) Provision in Prior Years | 428 | (169) | | Withholding Tax on Dividends | 139 | 5 | | Deferred Income Tax (Credit)/Expense | (6,933) | 801 | | Total | 10,756 | 17,237 | - Hong Kong profits tax provision is calculated at a **16.5% rate** on estimated assessable profits arising in Hong Kong during the year, with the first **HKD 2 million of assessable profits taxed at 8.25%** for eligible corporations[41](index=41&type=chunk) - The Group's subsidiaries in China are subject to China corporate income tax at a **25% rate** on estimated assessable profits, and a **10% withholding tax** on dividends declared to overseas investors[41](index=41&type=chunk)[68](index=68&type=chunk) [Dividends](index=10&type=section&id=Dividends) The Board recommends a total final and special final dividend of **6.0 HK cents per ordinary share for FY2024**, consistent with the prior year, with payment expected on September 6, 2024 - The Board recommends a **final dividend of 5.0 HK cents** and a **special final dividend of 1.0 HK cent per ordinary share** for the year ended March 31, 2024[47](index=47&type=chunk)[69](index=69&type=chunk) - The proposed dividend is expected to be paid to the Company's shareholders on **September 6, 2024**, subject to approval at the upcoming Annual General Meeting[47](index=47&type=chunk) - To determine eligibility for the proposed dividend, the Company will suspend share transfers from **Thursday, August 22, 2024, to Monday, August 26, 2024**[48](index=48&type=chunk) [Earnings Per Share](index=11&type=section&id=Earnings%20Per%20Share) Basic earnings per share for the year ended March 31, 2024, **decreased to 4.0 HK cents** from 5.8 HK cents in 2023, with diluted earnings per share remaining identical due to no potential dilutive shares Earnings Per Share (2024 vs 2023) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Profit Attributable to Equity Holders of the Company (HKD Thousands) | 17,168 | 24,613 | | Weighted Average Number of Ordinary Shares in Issue (Thousands) | 425,839 | 425,839 | | Basic Earnings Per Share (HK Cents) | 4.0 | 5.8 | - For the years ended March 31, 2024 and 2023, diluted earnings per share were the same as basic earnings per share due to the absence of potential dilutive shares[70](index=70&type=chunk) [Trade Receivables](index=11&type=section&id=Trade%20Receivables) As of March 31, 2024, net trade receivables **increased to HKD 303.6 million**, up from HKD 242.4 million in 2023, with credit terms ranging from 30 to 120 days Trade Receivables Ageing Analysis (2024 vs 2023) | Ageing | 2024 (HKD Thousands) | 2023 (HKD Thousands) | | :--- | :--- | :--- | | Current | 188,876 | 199,630 | | 1 to 30 Days | 77,517 | 19,118 | | 31 to 60 Days | 36,047 | 13,368 | | 61 to 90 Days | 723 | 6,631 | | Over 90 Days | 2,605 | 5,767 | | Total Trade Receivables | 305,768 | 244,514 | | Less: Loss Allowance for Trade Receivables | (2,217) | (2,108) | | Trade Receivables - Net | 303,551 | 242,406 | - Net trade receivables **increased by 25.2% year-on-year**[44](index=44&type=chunk) - The Group grants customers credit terms of **30 to 120 days**[70](index=70&type=chunk) [Trade Payables, Contract Liabilities, Accruals and Other Payables](index=12&type=section&id=Trade%20Payables%2C%20Contract%20Liabilities%2C%20Accruals%20and%20Other%20Payables) As of March 31, 2024, total trade payables were HKD 127.4 million, contract liabilities HKD 10.9 million, and accruals and other payables HKD 104.8 million, with a **specific warranty provision of HKD 18.659 million** recognized Trade Payables Ageing Analysis (2024 vs 2023) | Ageing | 2024 (HKD Thousands) | 2023 (HKD Thousands) | | :--- | :--- | :--- | | Current | 76,230 | 94,874 | | 1 to 30 Days | 40,896 | 18,626 | | 31 to 60 Days | 6,897 | 326 | | 61 to 90 Days | – | 535 | | Over 90 Days | 3,404 | 353 | | Total Trade Payables | 127,427 | 114,714 | - Contract liabilities **significantly increased from HKD 2.378 million in 2023 to HKD 10.9 million in 2024**[45](index=45&type=chunk) - For the year ended March 31, 2024, a **specific warranty provision of HKD 18.659 million** was recognized and charged to cost of sales due to a higher return rate for a product[72](index=72&type=chunk) Business Review and Outlook [Business Review](index=14&type=section&id=Business%20Review) For the year, the Group reported HKD 992.5 million in revenue, HKD 176 million in gross profit, and a 17.7% gross profit margin, with profit attributable to equity holders decreasing to HKD 17.2 million due to a **HKD 28.9 million one-off provision for obsolete inventories** - For the year ended March 31, 2024, the macroeconomic environment remained clouded by several adverse factors, including geopolitical tensions, persistently high inflation, and interest rate hikes by multiple central banks[76](index=76&type=chunk) - Fujikon was less affected by the subdued consumer sentiment due to its market differentiation strategy, developing advanced products for discerning top-tier audio brands[76](index=76&type=chunk) Business Review Key Financial Data (2024 vs 2023) | Metric | 2024 (HKD Thousands) | 2023 (HKD Thousands) | | :--- | :--- | :--- | | Revenue | 992,500 | 1,084,700 | | Gross Profit | 176,000 | 210,400 | | Gross Profit Margin | 17.7% | 19.4% | | Profit Attributable to Equity Holders of the Company | 17,200 | 24,600 | - Profit attributable to equity holders of the Company was **HKD 17.2 million**, impacted by a **one-off provision for obsolete inventories of approximately HKD 28.9 million**. Excluding this one-off provision, the Group would have recorded a profit attributable to equity holders of approximately **HKD 46.1 million**[76](index=76&type=chunk) [Segmental Analysis](index=14&type=section&id=Segmental%20Analysis) The ODM headphones and audio headphones segment maintained stable revenue but incurred a loss due to obsolete inventory provisions, while the accessories and components segment achieved significant revenue and profit growth, supported by new clients and a "China+1" strategy with an Indonesian production base - Revenue generated by ODM headphones and audio headphones remained stable at **HKD 649.2 million** (2023: HKD 764.3 million), accounting for **65.4% of the Group's total revenue**[50](index=50&type=chunk) - The ODM headphones and audio headphones segment recorded a **loss of HKD 10.7 million** (2023: profit of HKD 23 million), primarily due to the inclusion of a one-off provision for obsolete inventories[50](index=50&type=chunk) - Revenue from the accessories and components segment **increased to HKD 343.3 million** (2023: HKD 320.4 million), accounting for **34.6% of the Group's total revenue** for the year under review. Segment profit **surged by 55.5% year-on-year to HKD 57.2 million** (2023: HKD 36.8 million)[79](index=79&type=chunk) - The Group established its first offshore production base in Indonesia, enabling Fujikon to implement its **"China+1" strategy** with the new base[78](index=78&type=chunk) [Outlook](index=15&type=section&id=Outlook) Management holds cautious optimism for the outlook, focusing on new revenue streams in education, automotive, and medical sectors, while implementing "make-or-buy" strategies and production automation to reduce costs and meet future demand - Fujikon will focus on exploring new revenue streams, particularly in the **education, automotive, and medical sectors**, which are less susceptible to fluctuations in consumer sentiment[54](index=54&type=chunk) - The Group launched a new product line for the **education industry in April 2024** and is engaging in discussions with potential clients, leveraging relevant certifications to expand its market share in the **automotive and medical sectors**[54](index=54&type=chunk) - Management will continue to advance the restructuring and streamlining of all production stages, adopting a **"make-or-buy" strategy** and upgrading production lines to integrate fully automated and semi-automated processes to reduce labor and related costs[82](index=82&type=chunk) - According to the International Monetary Fund, global economic growth is projected to remain at **3.2% in 2024 and 2025**, with the global headphone market size expected to reach **USD 18 billion in 2024**, growing at a **CAGR of 2.4%**[80](index=80&type=chunk) Financial Review [Liquidity and Financial Resources](index=16&type=section&id=Liquidity%20and%20Financial%20Resources) As of March 31, 2024, net current assets were approximately HKD 533.6 million, with current and quick ratios of 3.0x and 2.4x respectively, and cash and cash equivalents **decreased by 11.9% to HKD 325.8 million** - The Group maintained a **strong financial position**[57](index=57&type=chunk) Liquidity and Financial Resources Key Data (2024 vs 2023) | Metric | 2024 (HKD Thousands) | 2023 (HKD Thousands) | Change | | :--- | :--- | :--- | :--- | | Net Current Assets | 533,600 | 556,100 | Decrease | | Current Ratio | 3.0 Times | 3.5 Times | Decrease | | Quick Ratio | 2.4 Times | 2.8 Times | Decrease | | Cash and Cash Equivalents | 325,800 | 369,800 | Decrease 11.9% | - Approximately **77.3% of total cash and cash equivalents were denominated in USD**, **18.5% in RMB**, and **3.1% in HKD**[94](index=94&type=chunk) - The Group's total bank credit facilities were approximately **HKD 160.6 million**, with an **unused balance of approximately HKD 160.6 million**[94](index=94&type=chunk) [Foreign Exchange Risk](index=17&type=section&id=Foreign%20Exchange%20Risk) The Group recorded a **net exchange gain of HKD 4.8 million**, with RMB fluctuations directly impacting operating costs, and actively manages foreign exchange risk through monitoring and forward contracts - For the year, the Group recorded a **net exchange gain of approximately HKD 4.8 million** (2023: HKD 2.6 million)[58](index=58&type=chunk) - Recent **fluctuations in RMB directly impact the Group's operating costs**[95](index=95&type=chunk) - The Group continuously monitors foreign exchange risk and enters into forward exchange contracts when appropriate[95](index=95&type=chunk) [Employee Information](index=17&type=section&id=Employee%20Information) As of March 31, 2024, the Group employed approximately **2,200 staff**, a reduction of 200, with employee expenses around HKD 281.7 million, and human resources policies based on performance, offering various benefits and training - As of March 31, 2024, the Group employed approximately **2,200 staff** (2023: 2,400 staff)[59](index=59&type=chunk) - Employee expenses (including directors' emoluments) for the year were approximately **HKD 281.7 million** (2023: HKD 293.2 million)[59](index=59&type=chunk) - The Group formulates human resources policies and procedures based on work performance and achievements, with employee remuneration determined by customary salary and bonus schemes based on staff performance, and offers various benefits and training programs[96](index=96&type=chunk) [Financial Guarantees](index=17&type=section&id=Financial%20Guarantees) As of March 31, 2024, the Company provided **HKD 155.7 million in corporate guarantees** for its subsidiaries' bank facilities, none of which were utilized - As of March 31, 2024, the Company provided corporate guarantees of approximately **HKD 155.7 million** (2023: HKD 155.7 million) as security for its subsidiaries' bank facilities[60](index=60&type=chunk) - As of March 31, 2024 and 2023, the subsidiaries did not utilize any credit facilities[60](index=60&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=17&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) Neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the year - During the year, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[88](index=88&type=chunk) Corporate Governance [Model Code for Securities Transactions](index=18&type=section&id=Model%20Code%20for%20Securities%20Transactions) The Company adopted a securities transaction code of conduct, no less exacting than Listing Rules Appendix C3, which all directors and senior management complied with during the year - The Company has adopted a code of conduct for securities transactions by the Group's directors and senior management, with terms no less exacting than those set out in Appendix C3 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[89](index=89&type=chunk) - Following specific enquiry with all directors and senior management of the Group, all directors and senior management complied with the Model Code during the year[89](index=89&type=chunk) [Code Provision C.2.1 of the Corporate Governance Code](index=18&type=section&id=Code%20Provision%20C.2.1%20of%20the%20Corporate%20Governance%20Code) The Company deviates from Code Provision C.2.1, with Mr. Yeung Chi Hung serving as both Chairman and CEO, an arrangement the Board believes provides strong leadership and enhances decision-making efficiency, subject to regular review - The Company has complied with the Corporate Governance Code, except for Code Provision C.2.1, which is deviated from for the reasons stated below[90](index=90&type=chunk) - Mr. Yeung Chi Hung, the Chairman of the Company, also serves as the Chief Executive Officer. The Board believes that Mr. Yeung's dual role provides strong and consistent leadership for the Group, enhancing the Company's decision-making and execution efficiency[90](index=90&type=chunk) - In the future, the Board will regularly review the effectiveness of this arrangement and consider separating the roles of Chairman and Chief Executive Officer when deemed appropriate[90](index=90&type=chunk) Board of Directors and Announcement Date [Board Members and Announcement Date](index=19&type=section&id=Board%20Members%20and%20Announcement%20Date) This section details the Board of Directors' composition as of the announcement date, comprising five executive and three independent non-executive directors - As of the announcement date, the Board comprises five executive directors: Mr. Yeung Chi Hung, Mr. Yuen Yee Sai, Mr. Chow Man Yan, Mr. Yuen Tsz King, and Mr. Yeung Siu Chung, and three independent non-executive directors: Dr. Ng Wang Pun, Mr. Che Wai Hang, and Ms. Tse Kan[100](index=100&type=chunk) - The announcement date is Hong Kong, June 28, 2024[101](index=101&type=chunk)
富士高实业(00927) - 2024 - 中期财报
2023-12-06 08:31
Financial Performance - Revenue for the six months ended September 30, 2023, was HK$492,564,000, a decrease of 7.3% from HK$531,317,000 in the same period of 2022[30]. - Gross profit increased to HK$102,322,000, up 11.9% from HK$91,507,000 year-on-year[30]. - Operating profit surged to HK$33,594,000, compared to HK$9,931,000 in the previous year, reflecting a significant improvement[30]. - Profit for the period reached HK$31,806,000, a substantial increase from HK$6,422,000 in the prior year[34]. - Basic earnings per share for the period was 4.28 HK cents, compared to a loss of 0.99 HK cents per share in the same period last year[30]. - Total comprehensive income for the period was HK$16,204,000, a recovery from a loss of HK$20,022,000 in the same period last year[34]. - Profit attributable to equity holders of the Group amounted to HK$18.2 million, compared to a loss of HK$4.2 million in 2022[79]. - The Group recorded a net foreign exchange gain of approximately HK$2.4 million during the Interim Period, up from HK$1.8 million in 2022[79]. Assets and Liabilities - Total non-current liabilities decreased from HK$6,846,000 as of March 31, 2023, to HK$4,280,000 as of September 30, 2023, representing a reduction of approximately 37%[12]. - Net assets decreased from HK$673,233,000 as of March 31, 2023, to HK$663,887,000 as of September 30, 2023, a decline of about 1.9%[12]. - Total equity decreased from HK$673,233,000 as of March 31, 2023, to HK$663,887,000 as of September 30, 2023, reflecting a decrease of approximately 1.4%[12]. - Total current assets amounted to HK$780,476,000, slightly up from HK$776,194,000 as of March 31, 2023[26]. - Total non-current assets increased to HK$136,521,000 from HK$124,013,000 as of March 31, 2023[26]. - Cash and cash equivalents rose to HK$404,960,000, compared to HK$369,796,000 at the end of the previous fiscal year[26]. - The Group's net current assets as of September 30, 2023, amounted to approximately HK$531.6 million, with current and quick ratios at approximately 3.1 times and 2.5 times, respectively[65]. Governance and Compliance - The remuneration committee consists of four members, including three independent non-executive directors and one executive director, ensuring a diverse governance structure[5]. - The company is committed to compliance with Hong Kong Accounting Standard 34 for interim financial reporting, ensuring transparency and accountability in financial disclosures[22]. - The independent auditor's review concluded that the interim financial information is prepared in accordance with relevant standards, affirming the integrity of the financial reporting process[22]. - The chairman and CEO roles are currently held by the same individual, which the board believes enhances leadership and decision-making efficiency, although this arrangement will be reviewed regularly[3]. Operational Developments - A new production line combining automated and semi-automated processes is set to commence operations in November 2023, aimed at modernizing production and reducing labor costs[64]. - The Group has formed a partnership to establish an offshore manufacturing base in Indonesia to enhance risk management and better serve top-tier clients[64]. - The Group's restructuring and streamlining efforts have started to yield positive results, focusing on productivity enhancement and cost control measures[64]. - The accessories and components segment's profit increase is attributed to the cessation of an underperforming business and improved productivity from operational restructuring[58]. Market Outlook - Economic growth is expected to contract from 3.5% in 2022 to 3.0% in 2023, with advanced economies also experiencing a decline[59]. - The global earphones and headphones market was valued at US$58.26 billion in 2022 and is projected to grow at a CAGR of 12.6%, reaching US$163.83 billion by 2030[86]. - The Group plans to enhance ties with top-tier audio brands and focus on advancing product development, particularly in ANC, CC&O, gaming, and True Wireless segments[86]. - The Group's Adaptive ANC technology-embedded headphones are expected to set a new market trend and drive positive sales performance[86]. Cash Flow and Investments - Cash generated from operations increased significantly to HK$94,215,000, up from HK$18,765,000, representing a growth of 402%[197]. - Net cash generated from operating activities reached HK$90,409,000, compared to HK$10,524,000 in the previous period, marking an increase of 760%[197]. - Interest received rose to HK$6,019,000, a substantial increase from HK$1,389,000, reflecting a growth of 333%[197]. - Net cash used in investing activities was HK$23,506,000, compared to HK$7,368,000, indicating an increase of 319%[197]. - The company reported a net increase in cash and cash equivalents of HK$37,436,000, compared to a decrease of HK$13,066,000 in the previous period[197]. Shareholder Information - An interim dividend of HK2.0 cents per ordinary share has been declared for the period, consistent with the previous year[127]. - The total number of issued shares is 425,839,000 as of September 30, 2023[133]. - The shareholding percentages of key directors include: Johnny Yeung at 2.76%, Simon Yuen at 15.16%, Michael Chow at 18.53%, and Ben Yeung at 17.52%[132][133]. - No share options were granted during the period under the Share Option Scheme, which has an authorized limit of 42,583,900 shares[141].
富士高实业(00927) - 2024 - 中期业绩
2023-11-28 08:31
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其準確性 或完整性亦不發表任何聲明,並明確表示,概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 中期業績公佈 截至2023年9月30日止6個月 財務摘要 - 收入︰492,600,000港元,下跌7.3%(2022︰531,300,000港元) - 毛利率︰20.8%,上升3.6百分點(2022︰17.2%) - 本公司股權持有人應佔溢利︰18,200,000港元,上升531.2%(2022︰虧損4,200,000港元) - 每股基本盈利︰4.28港仙(2022︰每股基本虧損0.99港仙) - 股息(每股)︰2.0港仙(2022︰2.0港仙) 未經審核中期業績 富士高實業控股有限公司* 「( 本公司」) 董事會 「( 董事會」) 欣然公佈本公司及其附屬公司 「( 富 士 ...
富士高实业(00927) - 2023 - 年度财报
2023-07-12 08:30
Financial Performance - Revenue for the year ended March 31, 2023, was HK$1,084.736 million, an increase of 23.5% from HK$878.267 million in 2022[6] - Gross profit margin improved to 19.4% in 2023 from 13.1% in 2022, reflecting a 6.3 percentage point increase[14] - Operating profit for the year was HK$56.748 million, compared to an operating loss of HK$23.305 million in the previous year[6] - Net profit for the year was HK$43.881 million, a significant recovery from a loss of HK$30.994 million in 2022[6] - The Group recorded a profit attributable to equity holders of HK$24.6 million, a turnaround from a loss of HK$37.1 million in 2022[26] - Segment profit for the headsets and headphones segment improved to HK$23.0 million (2022: loss of HK$31.7 million) due to increased productivity and profitability[30] - The accessories and components segment saw a profit surge of 366.3% to HK$36.8 million, up from HK$7.9 million in 2022, despite one-time expenses related to business closures and layoffs[60] Dividends - Dividends per share increased to 8.0 HK cents, a 100% increase from 4.0 HK cents in the previous year[14] - The Board recommended a total dividend of HK$8.0 cents per ordinary share for the Review Year, including a final dividend of HK$5.0 cents and a special final dividend of HK$1.0 cent[23] - An interim dividend of HK2.0 cents per ordinary share was paid, with a recommended final dividend of HK5.0 cents and a special final dividend of HK1.0 cent per ordinary share, pending shareholder approval[138] Assets and Liabilities - Shareholders' equity decreased by 2.2% to HK$600.586 million from HK$614.030 million in 2022[14] - The Group's non-current assets totaled HK$124,013,000, a slight decrease from HK$126,020,000 in 2022[17] - Total current assets amounted to HK$776,194,000, down from HK$786,169,000 in 2022[17] - The Group's net current assets were HK$556,066,000, compared to HK$561,628,000 in 2022[17] - The Group's cash and cash equivalents as of March 31, 2023, were approximately HK$369.8 million, a slight decrease of 0.02% from HK$369.9 million in 2022[69] Market and Product Development - The ongoing development of a sophisticated product mix is expected to contribute to sustainable sales growth[19] - The development of new products included electro-acoustic products with True Wireless and Active Noise Cancellation technologies, which were well received in the market[19] - Revenue for the headsets and headphones business increased by 22.4% to HK$764.3 million (2022: HK$624.7 million), accounting for 70.5% of the Group's total revenue[29] - Revenue from the accessories and components segment rose by 26.3% to HK$320.4 million (2022: HK$253.6 million), representing 29.5% of the Group's total revenue[31] - The global headphone market is projected to grow at a compound annual growth rate (CAGR) of 12.6%, reaching a market size of USD 163.83 billion by 2030[37] - The global earphones and headphones market was valued at US$58.26 billion in 2022 and is projected to grow at a CAGR of 12.6%, reaching US$163.83 billion by 2030[62] Operational Efficiency - The Group plans to modernize production facilities with a new hybrid production line that combines fully automated and semi-automated processes to enhance efficiency and meet high-volume orders[36] - The Group is focusing on optimizing production lines and overall operational management to enhance cost efficiency and profitability through the establishment of new production lines[91] - The Group aims to modernize its production facilities with advanced modular equipment to meet specific customer requirements and address rising labor and production costs[91] - The Group's restructuring efforts include streamlining the workforce and implementing strict cost controls to improve overall operational efficiency[45] Corporate Governance - The Company complied with the Corporate Governance Code throughout the year ended March 31, 2023, except for a deviation from Code Provision C.2.1[153] - The Board of Directors consists of six executive Directors and three independent non-executive Directors[161] - The Company has adopted a Board Diversity Policy to enhance the quality of its performance, recognizing the benefits of a diverse Board[162] - The management provides monthly reports to the Board summarizing financial performance and key events to ensure informed decision-making[156] - The Company is committed to maintaining high standards of corporate governance and regularly reviews its governance policies[157] Risk Management - The Group will continuously monitor foreign exchange risks and enter into forward contracts where appropriate to mitigate impacts on operating costs[95] - The business operations and results may be affected by various factors, with principal risks discussed in the "Chairman's Statement" and "Management Discussion and Analysis" sections[134] - The Group's financial risk factors are detailed in Note 3 of the consolidated financial statements[134] Environmental, Social, and Governance - The Group's environmental, social, and governance performance is overseen by the Environmental, Social and Governance Committee[198] - The environmental policies and compliance with local laws impacting the Group are discussed in the "Environmental, Social and Governance Report" section[115] - The report covers the environmental and operational governance performance of Charter Media (Dongguan) Co., Ltd. for the period from April 1, 2022, to March 31, 2023[197]
富士高实业(00927) - 2023 - 年度业绩
2023-06-29 04:18
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其準確性或完整 性亦不發表任何聲明,並明確表示,概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 全年業績公佈 截至 2023 年 3 月 31 日止年度 財務摘要 - 收入︰1,084,700,000港元,上升23.5%(2022︰878,300,000港元) - 毛利率︰19.4%,上升6.3百分點(2022︰13.1%) - 本公司股權持有人應佔溢利︰24,600,000港元,上升166.4%(2022︰虧損37,100,000港元) - 每股基本盈利︰5.8港仙(2022︰每股基本虧損8.7港仙) - 末期及特別末期股息(每股)︰6.0港仙(2022︰3.0港仙) 富士高實業控股有限公司(「本公司」)董事會(「董事會」)欣然公佈本公司及其附屬公司(「富 士高」或「本集團」)截至2023年3月31日止年度之經審核綜合業績。 ...
富士高实业(00927) - 2023 - 中期财报
2022-12-05 08:35
Financial Performance - For the six months ended September 30, 2022, the Group's total revenue increased by 28.9% year-on-year to HK$531.3 million, up from HK$412.2 million in 2021[8]. - Gross profit surged 76.1% to HK$91.5 million, compared to HK$52.0 million in 2021, despite increased material costs due to a change in product mix[8]. - The loss attributable to equity holders of the Company narrowed by 82.0% to HK$4.2 million, down from HK$23.5 million in 2021, with basic loss per share improving to HK0.99 cents from HK5.51 cents[8]. - Revenue for the six months ended September 30, 2022, was HK$531,317,000, representing an increase of 29% compared to HK$412,239,000 for the same period in 2021[101]. - Operating profit for the period was HK$9,931,000, a turnaround from an operating loss of HK$18,022,000 in the previous year[101]. - Profit for the period was HK$6,422,000, compared to a loss of HK$21,254,000 in the same period last year, showing a strong recovery[101]. - The company reported a profit before income tax of HK$11,064,000, a significant improvement from a loss of HK$15,318,000 in the prior year[149]. - The company reported a total of HK$238,928,000 in liabilities, which includes trade payables, contract liabilities, and accruals[169]. Revenue Segmentation - Revenue from the headsets and headphones segment rose 19.4% to HK$354.9 million, accounting for 66.8% of the Group's total revenue[9]. - The accessories and components segment saw revenue increase by 53.6% to HK$176.5 million, representing 33.2% of total revenue, with segment profit surging over 230% to HK$15.0 million[16]. - Revenue from the headsets and headphones segment was HK$354,851,000, up from HK$297,316,000 in 2021, while the accessories and components segment generated HK$189,985,000, compared to HK$128,445,000 in the previous year[149]. - External revenue attributed to Hong Kong was approximately HK$511,027,000, an increase from HK$395,407,000 in 2021, while revenue from China was approximately HK$20,290,000, up from HK$16,832,000[155]. Cash Flow and Liquidity - Cash and cash equivalents were approximately HK$354.5 million as of September 30, 2022, representing a decrease of about 4.1% from HK$369.9 million as of March 31, 2022[27]. - The Group's net current assets as of September 30, 2022, amounted to approximately HK$535.2 million, a decrease from HK$561.6 million as of March 31, 2022[26]. - The company experienced a net decrease in cash and cash equivalents of HK$13,066,000 for the six months ended September 30, 2022, compared to a decrease of HK$73,815,000 in the same period of 2021[110]. - Cash and cash equivalents at the end of the period were HK$354,522,000, down from HK$413,896,000 at the end of the same period in 2021[110]. Dividends and Shareholder Information - An interim dividend of HK2.0 cents per ordinary share has been declared for the Period, up from HK1.0 cent in the previous year[37]. - The interim dividend declared is HK$0.02 per ordinary share, an increase from HK$0.01 in 2021[40]. - The company paid dividends of HK$12,775,000 to equity holders in both 2022 and 2021, indicating a consistent dividend policy[110]. - As of September 30, 2022, the total number of shares in issue is 425,839,000[50]. Corporate Governance - The Company complied with the Corporate Governance Code, except for the separation of the roles of chairman and chief executive officer[66]. - The remuneration committee is responsible for reviewing and determining the remuneration policies for Directors and senior management[71]. - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial information for the period[78]. - The Nomination Committee is responsible for reviewing the structure, size, and composition of the Board at least annually[81]. Operational Developments - The Group launched a sophisticated headset featuring head-tracking and low-latency wireless communication technology for gaming applications in September 2022[18]. - The Group plans to launch more new products in the Call Centre & Office segment in the second half of 2022, anticipating sustained sales momentum[18]. - The Group plans to establish a new production line that combines fully and semi-automated processes to enhance production capabilities and competitiveness[23]. Financial Risks and Accounting Policies - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk, with no changes in risk management policies since March 31, 2022[131]. - The Group's accounting policies remain consistent with the annual financial statements for the year ended March 31, 2022, with no significant impact from the adoption of amended standards[123].
富士高实业(00927) - 2022 - 年度财报
2022-07-12 08:30
Financial Performance - For the year ended March 31, 2022, Fujikon reported revenue of HK$878.3 million, a decrease of 1.5% from HK$890.8 million in 2021[16]. - The gross profit margin declined to 13.1%, down 6.3 percentage points from 19.4% in the previous year[11]. - The company experienced a net loss of HK$30.99 million for the year, compared to a profit of HK$20.39 million in 2021[16]. - Total assets decreased by 1.8% to HK$912.19 million from HK$929.37 million in 2021[11]. - Cash and bank deposits fell by 24.1% to HK$369.86 million, down from HK$487.35 million[11]. - Shareholders' equity decreased by 7.1% to HK$614.03 million from HK$661.08 million[11]. - The operating loss for the year was HK$23.31 million, compared to an operating profit of HK$29.71 million in 2021[16]. - Dividends per share were reduced to 4.0 HK cents, a decrease of 20.0% from 5.0 HK cents in 2021[11]. - Gross profit dropped to HK$115.3 million, with a gross profit margin of 13.1%, compared to HK$173.0 million and 19.4% in 2021[42]. - The company recorded a loss attributable to equity holders of HK$37.1 million, compared to a profit of HK$10.3 million in 2021, resulting in a basic loss per share of HK8.7 cents[42]. Asset and Liability Management - Total non-current assets decreased to HK$126,020,000 from HK$140,417,000 in the previous year, representing a decline of approximately 10.2%[18]. - Current assets totaled HK$786,169,000, slightly down from HK$788,956,000, indicating a decrease of about 0.2%[18]. - Net assets decreased to HK$683,695,000 from HK$723,787,000, a decline of about 5.5%[18]. - As of March 31, 2022, the Group's net current assets were approximately HK$561.6 million, down from HK$591.4 million in 2021[64]. - The Group's cash and cash equivalents decreased by approximately 24.1% to HK$369.9 million as of March 31, 2022, from HK$487.4 million in 2021[65]. Revenue Segmentation - Revenue from the Call Centre & Office (CC&O) segment decreased by 3.4% to HK$624.7 million, accounting for 71.1% of total revenue[44]. - Revenue from Accessories and Components grew modestly to HK$253.6 million, representing 28.9% of total revenue, but segment profit fell to HK$7.9 million from HK$25.3 million in 2021[49]. - The Group's revenue for the accessories and parts segment was HK$253.6 million in 2022, a slight increase from HK$243.9 million in 2021, accounting for 28.9% of total revenue[52]. Operational Strategies - The company aims to enhance its product offerings through advancements in innovative technologies, aligning with its mission to provide value-added products[5]. - The company implemented stringent cost controls and increased automation to enhance productivity and cost-efficiency[30]. - The company is focused on enhancing product development and engineering capabilities to meet market demands and customer needs[31]. - Cost control measures and investments in automation are being implemented to improve production efficiency and mitigate potential cost fluctuations[32]. - The Group plans to enhance efficiency through automation and streamline its workforce to tackle rising staff costs and inflation[51]. Human Resources and Management - The Group's discretionary bonus system is linked to both the Group's profit performance and individual employee performance, ensuring alignment with overall financial results[76]. - The Group has implemented training programs for management and employees to enhance skills and performance[76]. - The Group's human resources policies are based on performance and merit, rewarding employees accordingly within the salary and bonus framework[76]. - As of March 31, 2022, the Group employed approximately 2,400 staff, a decrease from 2,600 in 2021, with employee expenses totaling approximately HK$287.8 million, up from HK$269.6 million in 2021[76]. Corporate Governance - The Group's strategic planning is overseen by experienced executives with over 50 years of industry experience, ensuring informed decision-making[79][80][81]. - The Group's management team includes individuals with significant academic and professional backgrounds, enhancing corporate governance and operational efficiency[85][87]. - The Group's focus on corporate strategy and financial functions is led by executives with extensive experience in the financial securities industry[85]. Future Outlook - The Group is optimistic about the prospects for CC&O products due to stable order inflow and longer product lifecycles[57]. - The Group's future business development is discussed in the "Management Discussion and Analysis" section[104]. Risk Management - The Group's business operations and results are subject to various risks and uncertainties, which are discussed in the "Chairman's Statement" and "Management Discussion and Analysis" sections[106]. - The Group's financial risk factors are detailed in Note 3 of the consolidated financial statements[106]. Shareholder Information - As of March 31, 2022, the total number of shares issued by the company is 425,839,000[156]. - The Company provided corporate guarantees of approximately HK$155.7 million as of March 31, 2022, unchanged from 2021, with no banking facilities utilized by subsidiaries compared to approximately HK$0.8 million in 2021[75]. - The Group's interim dividend was paid at HK$0.01 per ordinary share, with a recommended final dividend of HK$0.03 per ordinary share, subject to shareholder approval[120]. Environmental and Social Responsibility - Environmental policies and performance, as well as compliance with local laws and regulations, are outlined in the "Environmental, Social and Governance Report" section[107]. - Charitable and other donations made by the Group during the Year totaled approximately HK$106,000[139].
富士高实业(00927) - 2022 - 中期财报
2021-11-29 08:30
Financial Performance - Revenue for the six months ended September 30, 2021, was HK$412.2 million, down 18.1% from HK$503.3 million in 2020[8] - Gross profit decreased to HK$52.0 million, resulting in a gross profit margin of 12.6%, compared to 18.0% in 2020[8] - The company recorded a loss attributable to equity holders of HK$23.5 million, compared to a profit of HK$4.6 million in 2020[8] - Revenue from the headsets and headphones segment was HK$297.3 million, accounting for 72.1% of total revenue, down from HK$369.4 million in 2020[9] - The accessories and components segment generated revenue of HK$114.9 million, down from HK$133.9 million in 2020, with segment profit decreasing to HK$4.4 million from HK$17.3 million[14] - Operating loss for the period was HK$18,022,000 compared to an operating profit of HK$12,884,000 in the previous year[142] - Loss attributable to equity holders of the Company was HK$23,471,000, a significant decline from a profit of HK$4,587,000 in the same period last year[144] - Total comprehensive loss for the period was HK$15,544,000, compared to a comprehensive income of HK$20,947,000 in the prior year[144] Cash Flow and Liquidity - The Group's cash and cash equivalents were approximately HK$413.9 million, representing a decrease of about 15.1% from HK$487.4 million as of March 31, 2021[26] - Cash and cash equivalents at the end of the period decreased to HK$413,896,000 from HK$448,373,000 year-over-year, a decline of approximately 8%[149] - Net cash used in operating activities for the six months ended 30 September 2021 was HK$52,795,000, compared to a net cash generated of HK$38,783,000 in the same period of 2020, representing a significant decline[149] - The Group's total cash outflow from financing activities was HK$16,828,000, which is consistent with the HK$16,773,000 reported in the previous year[149] Assets and Liabilities - As of September 30, 2021, the Group's net current assets amounted to approximately HK$566.5 million, a decrease from HK$591.4 million as of March 31, 2021[25] - Total non-current assets amounted to HK$135,064,000, a decrease from HK$140,417,000 as of March 31, 2021[137] - Current assets increased to HK$815,468,000 from HK$788,956,000, driven by a rise in inventories to HK$182,230,000 from HK$141,090,000[137] - Total current liabilities increased to HK$248,928,000 from HK$197,518,000, primarily due to a rise in trade payables to HK$140,920,000 from HK$94,808,000[137] - Net assets decreased to HK$695,468,000 from HK$723,787,000, reflecting a decline in equity reserves[139] Employee and Operational Metrics - Employee costs during the Interim Period amounted to approximately HK$142.7 million, down from HK$146.5 million in the previous year[33] - The Group employed approximately 2,500 employees as of September 30, 2021, a decrease from 3,100 employees in 2020[33] - The company plans to address rising staff costs by increasing automation and optimizing workforce and workflows[23] Dividends and Shareholder Information - An interim dividend of HK1.0 cent per ordinary share was declared for the Period, down from HK2.0 cents in the previous year[44] - The total number of shares issued as of September 30, 2021, is 425,839,000[55] - Johnny Yeung holds a total of 54,328,500 shares, representing approximately 12.76% of the total shareholding[54] - Simon Yuen has a total of 64,982,500 shares, which is approximately 15.26% of the total shareholding[54] - Michael Chow owns 78,926,500 shares, accounting for approximately 18.53% of the total shareholding[54] Governance and Compliance - The company complied with the Corporate Governance Code during the period, with a noted deviation regarding the separation of roles for chairman and CEO[104] - The company has adopted a code of conduct for securities trading that complies with the standards set out in the Listing Rules[107] - The Remuneration Committee is responsible for reviewing and determining the remuneration policies for directors and senior management, with packages based on market conditions and individual contributions[111] Market and Economic Outlook - The International Monetary Fund projects global economic growth of 5.9% in 2021 and 4.9% in 2022, reflecting a cautious macroeconomic outlook[15] - Challenges included shortages of critical components and shipping containers, with initial signs of improvement noted[16] Financial Risks and Management - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[167] - There have been no changes in the Group's risk management policies since March 31, 2021[167] - The Group's financial risk management information should be read in conjunction with the annual financial statements for a comprehensive understanding[167]
富士高实业(00927) - 2021 - 年度财报
2021-07-05 08:30
,门 ♫ 2020 2021 Annual Report of 38 Fujikon Fujikon Industrial Holdings Limited 富士高實業控股有限公司 (incorporated in Bermuda with limited liability) (於百慕蓬註冊成立之有限公司) Stock Code 股份代號: 927 VISION 願景 To become our customers' preferred strategic partner in the acoustics and electronics industries. 成為在電聲及電子領域客戶首選的策略性合作夥伴。 MISSION 使命 Through advancements in innovative technologies, we strive to provide value-added and distinct products to our customers. 以先進及創新科技,竭力為客戶提供高增值、高差異性的產品。 VALUES 價值觀 We, as a partner, abide by our ...