Financial Performance - For the six months ended June 30, 2022, the total revenue of the company was approximately HKD 71.1 million, a decrease of about 8.7% from approximately HKD 77.8 million for the same period in 2021[6]. - The company recorded a loss attributable to owners of approximately HKD 2.4 million for the six months ended June 30, 2022, compared to a profit of approximately HKD 2.3 million for the same period in 2021[6]. - The basic loss per share for the six months ended June 30, 2022, was approximately HKD 0.24, compared to a basic earnings per share of approximately HKD 0.23 for the same period in 2021[6]. - The overall gross profit margin decreased from approximately 18.3% for the six months ended June 30, 2021, to approximately 13.5% for the same period in 2022[15]. - Gross profit for the same period was HKD 9,599 thousand, down 32.5% from HKD 14,251 thousand year-on-year[76]. - The company reported a loss before tax of HKD 2,370 thousand compared to a profit of HKD 2,757 thousand in the previous year[76]. - Total comprehensive loss for the period amounted to HKD 5,529 thousand, contrasting with a comprehensive income of HKD 3,298 thousand in the prior year[76]. Revenue Breakdown - Revenue from the book products segment accounted for approximately 96.8% of total revenue, with segment revenue of approximately HKD 68.8 million, remaining relatively stable compared to approximately HKD 69.4 million in the same period of 2021[11]. - Revenue for the six months ended June 30, 2022, was HKD 71,057 thousand, a decrease of 8.5% from HKD 77,821 thousand in the same period of 2021[76]. - Revenue from book products was HKD 68,764,000, while revenue from paper products and packaging was HKD 2,293,000 for the six months ended June 30, 2022[96]. - Revenue from external customers in Hong Kong increased to HKD 34,034,000 from HKD 30,170,000, representing a growth of 6%[99]. Expenses and Costs - Administrative expenses increased by approximately 12.2% to approximately HKD 8.0 million for the six months ended June 30, 2022, from approximately HKD 7.1 million for the same period in 2021[19]. - The total employee cost for the six months ended June 30, 2022, was approximately HKD 23.8 million, compared to HKD 22.2 million for the same period in 2021[43]. - Financing costs decreased by over 42.8% to approximately HKD 0.1 million for the six months ended June 30, 2022, from approximately HKD 0.2 million for the same period in 2021[22]. Assets and Liabilities - As of June 30, 2022, the group held cash and bank balances of approximately HKD 36.1 million, an increase of about 11.3% from HKD 32.5 million as of December 31, 2021[28]. - As of June 30, 2022, the group's current assets were approximately HKD 114.4 million, including inventory of about HKD 34.2 million and trade and other receivables of approximately HKD 40.9 million[28]. - The group's current liabilities as of June 30, 2022, were approximately HKD 26.9 million, with trade and other payables accounting for about HKD 23.7 million[29]. - The group's net current assets decreased by approximately HKD 2.3 million or about 2.5% to approximately HKD 87.5 million as of June 30, 2022[29]. - The group's debt-to-equity ratio was approximately 2.5% as of June 30, 2022, compared to 3.0% as of December 31, 2021[30]. - The company’s total liabilities increased to HKD 26,895 thousand from HKD 23,564 thousand as of December 31, 2021[80]. - The net asset value decreased to HKD 128,352 thousand from HKD 133,881 thousand at the end of 2021[80]. Shareholder Information - As of June 30, 2022, the major shareholder "精智" holds 675,000,000 shares, representing 67.5% of the company's issued share capital[55]. - The shareholder "Fortune Corner" owns 75,000,000 shares, accounting for 7.5% of the company's issued share capital[55]. Corporate Governance - The company has complied with the corporate governance code, except for the deviation where the Chairman and CEO roles are held by the same individual[61]. - All independent non-executive directors attended the annual general meeting held on May 13, 2022, ensuring a fair understanding of shareholder opinions[64]. - The audit committee consists of three independent non-executive directors, ensuring compliance with corporate governance standards[67]. - The company has adopted the trading standards outlined in the listing rules for securities transactions by directors[66]. Investments and Acquisitions - The group did not engage in any significant investments or acquisitions during the six months ended June 30, 2022[40][42]. - The group acquired property, plant, and equipment for approximately HKD 1.1 million for the six months ended June 30, 2022, down from HKD 7.0 million for the same period in 2021[35]. - The company has entered into a subscription agreement to acquire 30% of Hubei Kangshizhen Pharmaceutical Technology Co., Ltd. for HKD 30,000,000, with a conditional payment of HKD 7,000,000 at an annual interest rate of 5%[124]. - The company raised approximately HKD 21,000,000 from the placement of 20,000,000 new shares at HKD 1.05 per share, which represents about 1.96% of the issued share capital post-placement[125]. Compliance and Review - The financial statements for the six months ending June 30, 2022, have been reviewed and found to comply with the relevant accounting standards[72]. - The company has not reported any significant issues that would indicate non-compliance with the accounting standards during the review[72]. - The company continues to focus on its core business of printing book products and packaging, with no significant changes in accounting policies affecting financial performance[95].

Financial Performance - Total revenue increased by approximately 32.0% from about HKD 127.2 million in FY20 to about HKD 167.9 million in FY21, primarily due to increased sales in the book products segment in the US and Hong Kong[24]. - Net profit decreased by approximately 89.7%, from about HKD 16.0 million in FY20 to about HKD 1.6 million in FY21, attributed to rising labor and paper costs, and a shift to more competitive pricing strategies[24]. - The book products segment accounted for approximately 92.9% of total revenue, reaching about HKD 155.9 million in FY21, up from about HKD 105.7 million in FY20[24]. - Gross margin decreased from approximately 36.1% in FY20 to about 15.8% in FY21, primarily due to increased labor costs, paper costs, and a pricing strategy aimed at gaining market share[31]. - Other income fell by 35.0% from approximately HKD 0.7 million in FY20 to about HKD 0.5 million in FY21, mainly due to a reduction in government subsidies[32]. - Distribution costs rose by approximately 35.3% from about HKD 7.0 million in FY20 to approximately HKD 9.5 million in FY21, driven by increased transportation and freight costs due to higher sales volume[35]. - Administrative expenses increased by approximately 15.0% from about HKD 13.1 million in FY20 to approximately HKD 15.0 million in FY21, mainly due to higher office, maintenance, and depreciation costs[36]. - Net profit for FY21 was approximately HKD 1.6 million, a significant decrease from approximately HKD 16.0 million in FY20[41]. - Cash and bank balances decreased by approximately 36.1% from about HKD 50.8 million as of December 31, 2020, to approximately HKD 32.5 million as of December 31, 2021[47]. - Current assets decreased by approximately 4.9% to about HKD 89.8 million as of December 31, 2021, from approximately HKD 94.4 million as of December 31, 2020[48]. - Capital expenditure for FY21 was approximately HKD 8.1 million, up from HKD 4.3 million in FY20[53]. - The company did not make any significant acquisitions or disposals of subsidiaries, associates, or joint ventures in FY21[61]. - The group reported earnings per share of HKD 0.16 for the fiscal year 2021, a decrease from HKD 1.60 in 2020[75]. Employee and Workforce - The total number of employees in the group as of December 31, 2021, was 334, an increase from 326 in 2020[62]. - Employee costs for the fiscal year 2021 amounted to approximately HKD 53.9 million, compared to about HKD 24.5 million in the fiscal year 2020, reflecting a significant increase[62]. - The number of employees at the Heyuan factory as of December 31, 2021, was 322, up from 315 in 2020[63]. - Employee turnover rate for the reporting period was 24%, with male turnover at 20% and female turnover at 28%[129]. - The turnover rate for employees under 25 years old was 43%, while for those aged 30-50 it was 16%[129]. - The workforce consisted of 334 full-time employees, with a gender distribution of 44% male and 56% female[126]. - The employee training completion rate by gender is 55% male and 45% female[136]. - Average training hours per employee are 0.66 for males and 0.74 for females[136]. - The average training hours for junior employees is 0.85, for intermediate employees is 0.49, and for management is 0.87[136]. - The company recorded 9 work-related injuries during the reporting period, with no fatalities, resulting in a total of 139 lost workdays[132]. - The company has implemented safety measures and training programs, achieving ISO 45001 certification for occupational health and safety[132]. Environmental, Social, and Governance (ESG) - The company emphasizes the importance of prudent environmental and social management for sustainable economic growth[85]. - The board of directors is responsible for overseeing the company's ESG-related risks and opportunities, and has established dedicated committees for managing ESG matters across business segments[85]. - The ESG working group, composed of senior management, assists the board in executing ESG strategies and monitoring performance, reporting biannually to the board[85]. - The company has conducted a comprehensive review of its existing policies and practices in preparing the ESG report, covering operations in its factory in Heyuan, Guangdong, and its Hong Kong office[81]. - The report outlines the company's commitment to balancing profitability with environmental and social impacts, engaging with stakeholders to meet their expectations[81]. - The company has identified significant ESG issues that may impact its operations and financial performance, including those related to its offices and factories in Hong Kong and China[95]. - The company aims to continuously improve its ESG strategies and maintain close communication with stakeholders to enhance product and service quality[90]. - The ESG report is prepared in accordance with global, local, and industry standards, including the Hong Kong Stock Exchange's guidelines[83]. - The company achieved a reduction in nitrogen oxide emissions from 21,222.30 grams in 2020 to 15,390.15 grams in 2021, representing a decrease of approximately 27%[101]. - Sulfur oxide emissions decreased from 277.54 grams in 2020 to 97.02 grams in 2021, a reduction of about 65%[101]. - The total greenhouse gas emissions from vehicle fuel combustion dropped from 44.557 tons of CO2 in 2020 to 15.576 tons in 2021, a decrease of approximately 65%[102]. - Carbon emissions from purchased electricity decreased from 8,046.42 tons in 2020 to 7,457.03 tons in 2021, a reduction of approximately 7%[106]. - The total hazardous waste generated increased from 9.61 tons in 2020 to 43.16 tons in 2021, an increase of approximately 348%[111]. - The total amount of packaging materials used rose from 948.25 tons in 2020 to 1,468.72 tons in 2021, an increase of about 55%[113]. - The company aims to reduce electricity consumption by 10% over the next three years, targeting a more environmentally friendly working environment[106]. - The hazardous waste density increased from 0.00036 tons per square meter in 2020 to 0.00160 tons per square meter in 2021[111]. - Water consumption decreased from 181,834.00 cubic meters in 2020 to 166,907.40 cubic meters in 2021, achieving a reduction of approximately 8.5%[118]. - The density of water consumption per square meter improved from 6.68 cubic meters/square meter in 2020 to 6.13 cubic meters/square meter in 2021, a decrease of about 8.5%[118]. - The company aims to maintain or reduce total water consumption to a density of 6.0 cubic meters/square meter in the next reporting year[118]. Corporate Governance - The company has adhered to the corporate governance code during the fiscal year 2021, with exceptions noted regarding the appointment terms of independent non-executive directors and the dual role of the chairman and CEO[181]. - The board is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[180]. - The board has reviewed the internal control system to ensure its effectiveness and adequacy, focusing on financial, operational, and risk management controls[182]. - The company has implemented anti-corruption policies and measures to prevent bribery, extortion, fraud, and money laundering[172]. - Key performance indicators related to anti-corruption training provided to directors and employees have been established[175]. - The company has focused its community investment efforts on areas such as education, health, and environmental issues[177]. - Resources allocated to community investment initiatives have been documented, emphasizing the company's commitment to social responsibility[178]. - The board has a structured approach to monitor and approve significant transactions and conflicts of interest involving major shareholders or directors[188]. - Continuous professional development programs for directors are encouraged to ensure they remain informed about their responsibilities and regulatory changes[190]. - The company has made appropriate insurance arrangements for legal liabilities faced by its directors and senior officers[187]. - The board consists of three executive directors and three independent non-executive directors, with all directors attending at least one board meeting during the fiscal year 2021[196]. - All independent non-executive directors have confirmed their independence according to listing rules, ensuring compliance with financial reporting standards[197]. - The company encourages continuous professional development for directors, ensuring they stay updated on corporate governance practices[195]. - The board has adopted a diversity policy, reviewing its composition annually to ensure a balance of skills and perspectives[200]. - The company has implemented a policy to reimburse directors for training expenses related to corporate governance and internal controls[195]. - The board members possess diverse backgrounds in management, accounting, finance, marketing, production, and procurement, aligning with the company's business needs[199]. - The company ensures that changes in board composition do not disrupt its operations, maintaining necessary skills and integrity among members[200]. - The board's diversity policy considers various factors, including gender, age, cultural background, and professional experience[200]. - The company has appointed a new chairman for the nomination committee effective December 31, 2021, reflecting changes in board leadership[196]. - All independent non-executive directors attended the annual general meeting held on May 7, 2021, demonstrating their commitment to shareholder engagement[197]. Community Engagement and Social Responsibility - The company donated HKD 80,000 to the Hong Kong Aberdeen District Community Service Centre, which provides welfare and social services to the elderly, children, youth, and families in the South District of Hong Kong[154]. - The company has established a whistleblowing policy to encourage employees to report any suspicious fraudulent activities, ensuring protection against retaliation for good faith reports[150]. - The company strictly prohibits the use of forced labor and child labor, with no incidents reported during the reporting period[139]. - The company has not faced any lawsuits related to intellectual property infringement during the reporting period[149]. - The company provided anti-corruption training for employees during the reporting period, with no known or reported cases of corruption or money laundering[151].

Financial Performance - For the six months ended June 30, 2021, the group's revenue was approximately HKD 77.8 million, an increase of about 39.1% compared to HKD 56.0 million for the same period in 2020[15]. - The profit attributable to owners for the six months ended June 30, 2021, was approximately HKD 2.3 million, a decrease of about 8.4% from HKD 2.5 million for the same period in 2020, primarily due to intense market competition and rising production costs[15]. - The basic earnings per share for the six months ended June 30, 2021, was approximately HKD 0.23, compared to HKD 0.25 for the same period in 2020[15]. - The gross profit margin decreased from approximately 28.0% for the six months ended June 30, 2020, to approximately 18.3% for the same period in 2021, mainly due to reduced product prices and increased production costs[25]. - The net profit for the announcement period was approximately HKD 2.3 million[35]. - The company reported a total comprehensive income of HKD 3,298,000 for the six months ended June 30, 2021[112]. - The operating profit before tax for the six months ended June 30, 2021, was HKD 2,757,000, down 23% from HKD 3,580,000 in the previous year[120]. - The net cash used in operating activities for the six months ended June 30, 2021, was HKD 16,237,000, compared to a cash generated of HKD 4,086,000 in the same period of 2020[120]. Revenue Breakdown - Revenue from the book products segment accounted for approximately 89.2% of total revenue, with segment revenue increasing by about 43.8% to approximately HKD 69.4 million from HKD 48.3 million in the same period last year[20]. - Revenue for the six months ended June 30, 2021, was HKD 77,821,000, representing a 39% increase from HKD 55,953,000 in the same period of 2020[129]. - The revenue from book products was HKD 69,419,000, up 44% from HKD 48,290,000 year-over-year[129]. - Revenue from external customers in Hong Kong increased to HKD 30,170,000, a 93% increase from HKD 15,604,000 in the previous year[131]. - Revenue from the United States decreased to HKD 26,870,000, down 17% from HKD 22,932,000 year-over-year[131]. Expenses and Costs - Distribution costs increased by approximately 39.1% to about HKD 4.5 million from HKD 3.2 million, primarily due to increased transportation and freight costs[29]. - Administrative expenses increased by approximately 3.5% to about HKD 7.1 million from HKD 6.9 million, with no significant fluctuations[32]. - The total employee cost for the six months ended June 30, 2021, was approximately HKD 22.2 million, an increase from approximately HKD 13.9 million for the same period in 2020[61]. - The depreciation of property, plant, and equipment increased to HKD 3,668,000 from HKD 2,878,000 in the previous year[120]. Assets and Liabilities - As of June 30, 2021, the company had cash and bank balances of approximately HKD 21.5 million, a decrease of about 57.7% from approximately HKD 50.8 million as of December 31, 2020, primarily due to increased purchases of raw materials, properties, and equipment, as well as dividend payments[40]. - The company's current assets as of June 30, 2021, were approximately HKD 126.2 million, which included inventory of approximately HKD 44.4 million and trade and other receivables of approximately HKD 59.9 million[40]. - The company's current liabilities as of June 30, 2021, were approximately HKD 38.5 million, resulting in a net current asset value decrease of about HKD 6.7 million or approximately 7.1%[41]. - The company's total assets as of June 30, 2021, were HKD 126,246,000, compared to HKD 117,280,000 as of December 31, 2020[102]. - The total trade and other receivables as of June 30, 2021, amounted to HKD 59,925,000, an increase of 37.5% from HKD 43,598,000 as of December 31, 2020[143]. Taxation and Dividends - The company's income tax expense decreased by 56.1% from approximately HKD 1.1 million for the six months ended June 30, 2020, to approximately HKD 0.5 million for the six months ended June 30, 2021, mainly due to a reduction in taxable profits during the announcement period[34]. - The income tax expense for the six months ended June 30, 2021, was HKD 480,000, a decrease of 56.1% from HKD 1,094,000 in the same period of 2020[135]. - The company did not declare any interim dividends for the six months ended June 30, 2021[50]. - The company declared a final dividend of HKD 0.005 per share for the year ended December 31, 2020, totaling HKD 5,000,000, compared to HKD 4,000,000 for the previous year, marking a 25% increase[137]. Corporate Governance - The company confirmed compliance with the corporate governance code, except for certain deviations regarding the appointment of non-executive directors and the chairperson's role[77][80]. - All independent non-executive directors attended the annual general meeting held on May 6, 2021, ensuring they understood shareholders' opinions[81]. - The company has adopted the trading code of conduct as per the listing rules, and all directors confirmed compliance for the six months ending June 30, 2021[84]. Shareholder Information - The major shareholders include 精智有限公司 holding 675,000,000 shares, representing 67.5% of the company's issued share capital, and Fortune Corner Holdings Limited holding 75,000,000 shares, representing 7.5%[67][68]. - The total issued and paid-up share capital as of June 30, 2021, is 1,000,000,000 shares at HKD 0.01 each[152].

Financial Performance - Total revenue for the fiscal year 2020 decreased by approximately 3.8% to around HKD 127.2 million from HKD 132.2 million in the fiscal year 2019[30]. - Profit for the fiscal year 2020 was approximately HKD 16.0 million, a decrease of about 30.9% compared to HKD 23.1 million in the fiscal year 2019, primarily due to one-time professional fees of HKD 5.8 million related to the transfer to the main board[30]. - Revenue from the book products segment accounted for approximately 83.1% of total revenue, reaching about HKD 105.7 million, compared to HKD 109.3 million in the fiscal year 2019[30]. - Revenue decreased by approximately 3.8% from HKD 132.2 million in FY19 to HKD 127.2 million in FY20, primarily due to a reduction in orders from customers in Hong Kong and the UK[36]. - Overall gross margin decreased from approximately 37.8% in FY19 to 36.1% in FY20, mainly due to intensified market competition in FY20[37]. - Other income fell by 57.7% from approximately HKD 1.6 million in FY19 to HKD 0.7 million in FY20, primarily due to a decrease in government subsidies[38]. - Profit for FY20 was approximately HKD 16.0 million, down from HKD 23.1 million in FY19[48]. - Proposed final dividend for FY20 is HKD 0.005 per share, totaling HKD 5.0 million, compared to HKD 4.0 million in FY19[50]. - The total employee cost for the fiscal year 2020 was approximately 24.5 million HKD, a decrease from 27.4 million HKD in the previous fiscal year, representing a reduction of about 10.6%[70]. - Total profit attributable to the company's owners for the fiscal year 2020 was approximately 16,001,000 HKD, compared to 23,142,000 HKD in 2019, indicating a decline of about 30.7%[87]. Operational Strategies - The company plans to strengthen marketing strategies to expand its quality customer base and promote its one-stop printing services to existing and potential customers in the coming year[32]. - The company aims to further tighten operational expenditure control and streamline production processes while continuing to invest in capacity enhancement to improve overall production efficiency[32]. - The company has reallocated resources to optimize employee structure and streamline production processes in response to increasing demand for high-value products[23]. - The company will continue to focus on maximizing brand value and gaining greater market share in the printing industry amid increasing external competition and internal challenges[23]. - The company plans to continue exploring new business opportunities in various markets and aims to enhance its customer base through strategic measures and increased marketing efforts[49]. Market Contributions - The company recorded revenue contributions from the United States, China (including Hong Kong), the United Kingdom, and the Netherlands, accounting for 23.4%, 44.1%, 8.8%, and 10.5% of total revenue, respectively[31]. ESG and Sustainability - The company emphasizes the importance of prudent environmental and social management for sustainable economic growth[96]. - The board of directors is responsible for overseeing the company's ESG-related risks and opportunities, as well as setting and adopting ESG strategies and goals[96]. - An ESG working group has been established to assist the board in managing and monitoring ESG matters on a daily basis[100]. - The company aims to balance profitability with environmental and social impacts while actively engaging with stakeholders[91]. - The ESG report covers the company's performance in environmental protection, human resources, operational practices, and community engagement for the fiscal year ending December 31, 2020[94]. - The company has committed to continuous improvement in its ESG strategies based on stakeholder feedback and expectations[91]. - The report includes data and information from the company's factory in Heyuan, Guangdong Province, and its Hong Kong office[91]. - The board will continue to review progress against set goals and indicators to enhance the company's sustainability[99]. - The company has established a governance framework to strengthen the management of ESG issues[100]. - Stakeholder engagement is considered crucial for the company's ongoing business success, with efforts made to enhance understanding and communication[101]. Environmental Impact - The company reported a significant reduction in nitrogen oxide emissions, decreasing from 345,844.73 grams in 2019 to 21,222.30 grams in 2020, representing a reduction of approximately 94.1%[110]. - Sulfur oxide emissions also saw a decline from 423.62 grams in 2019 to 277.54 grams in 2020, a decrease of about 34.5%[110]. - The total hazardous waste generated increased from 5.80 tons in 2019 to 9.61 tons in 2020, marking a rise of approximately 65.5%[120]. - The company planted 370 trees at its Heyuan factory, which is expected to reduce greenhouse gas emissions by 8.51 tons[111]. - The total electricity consumption rose from 9,008,627 kWh in 2019 to 10,005,249 kWh in 2020, an increase of about 11.1%[115]. - Carbon emissions from electricity consumption decreased slightly from 8,268.82 tons in 2019 to 8,046.42 tons in 2020, a reduction of approximately 2.7%[115]. - The company achieved a carbon emission density of 0.30 tons of CO2 equivalent per square meter in 2020, compared to 0.28 tons in 2019[115]. - The total area of buildings decreased from 29,517.1 square meters in 2019 to 27,034.1 square meters in 2020, a reduction of about 8.4%[120]. - The company has fully complied with all applicable laws and regulations regarding air emissions and greenhouse gas emissions during the reporting period[109]. - The company has implemented waste reduction strategies at the source to minimize the generation of hazardous and non-hazardous waste[120]. - Total packaging materials used increased to 948.25 tons in 2020 from 901.92 tons in 2019, representing a growth of approximately 5.9%[121]. - Water consumption decreased to 181,834 cubic meters in 2020 from 217,887 cubic meters in 2019, a reduction of about 16.5%[128]. - The density of water consumption improved to 6.68 cubic meters per square meter in 2020 from 7.33 cubic meters per square meter in 2019[128]. - The company emphasizes collaboration with environmentally responsible suppliers to mitigate natural resource consumption in the supply chain[129]. - The company has established a set of energy and water conservation regulations to enhance employee awareness and reduce long-term consumption[126]. - The total building area decreased to 27,034.10 square meters in 2020 from 29,517.10 square meters in 2019, indicating a reduction of approximately 8.4%[121]. - The company continues to monitor climate-related risks and has taken measures to manage potential energy consumption increases due to high temperatures[132]. Employee Management - Employee turnover rate for the reporting period was 28%, with the highest turnover occurring in the 30-39 age group at 32%[140]. - The total number of full-time employees as of December 31, 2020, was 326, with a gender distribution of 42% male and 58% female[138]. - The company implemented energy-saving measures, including limiting air conditioning use and prioritizing energy-efficient equipment purchases[122]. - The company has implemented safety measures and established a safety management system to ensure a safe working environment, achieving ISO 45001 certification for occupational health and safety[143]. - There were no recorded work-related deaths or lost workdays due to injuries over the past three reporting periods[144]. - Employee training participation rates are as follows: 56% male and 44% female[148]. - Average training hours per employee by gender: males 0.63 hours, females 0.73 hours; by employment level: junior 0.80 hours, intermediate 0.48 hours, management 0.86 hours[149]. - The company strictly adheres to labor laws in China and Hong Kong, ensuring no child or forced labor is employed[150]. Corporate Governance - The company has not established a nomination committee as per corporate governance code requirements, with the current chair being an executive director[194]. - The board will continue to monitor and update corporate governance practices to ensure compliance with the governance code[197]. - The board is responsible for overseeing the overall strategy and development of the company, including continuous monitoring and improvement of internal control policies and financial performance evaluation[198]. - Independent non-executive directors provide independent judgment on the group's development, performance, and risk management during board meetings[198]. - The board has established guidelines to clearly define the responsibilities of the board and management, including the approval of significant financial, technical, or human resource investments[198]. - The board must approve major changes to the company's overall policies and objectives, as well as any significant changes to corporate plans[198]. - The company has made appropriate insurance arrangements for its directors and senior officers against potential legal claims[200].