Financial Performance - The Group recorded a revenue of approximately HK$189,565,000 for the six months ended June 30, 2021, representing an increase of 12.3% compared to HK$168,779,000 for the same period in 2020[13]. - Gross profit for the period was approximately HK$25,515,000, a decrease of 14.6% from HK$29,865,000 in the previous year, with a gross profit margin declining from 17.7% to 13.5%[13]. - Profit for the period attributable to equity holders of the Company was approximately HK$1,942,000, reflecting a significant decrease of 86.8% from HK$14,693,000 in the prior year[13]. - Earnings per share for the period were HK$0.14, down from HK$1.05 in the previous year[6]. - The Group's net profit margin decreased to 1.0% from 8.7% in the prior year[6]. - Total comprehensive income for the period was HK$2,853,000, down from HK$13,955,000 in the previous year[99]. - The company reported a net cash used in operating activities of HK$15,280,000 for the six months ended June 30, 2021, compared to a net cash generated of HK$2,721,000 in the same period of 2020[106]. - The company incurred finance costs of HK$28,663,000 for the period, compared to HK$27,500,000 in the previous year[96]. Assets and Liabilities - Current assets as of June 30, 2021, were HK$167,949,000, down from HK$173,596,000 as of December 31, 2020[9]. - Current liabilities decreased to HK$191,697,000 from HK$203,529,000 as of December 31, 2020[9]. - The Group's net current liabilities improved to HK$23,748,000 from HK$29,933,000 at the end of 2020[9]. - Total assets as of June 30, 2021, were HK$338,312,000, compared to HK$347,940,000 as of December 31, 2020[9]. - The gearing ratio improved to 31.1% from 34.4% as of December 31, 2020[9]. - As of June 30, 2021, the Group held bank balances and cash of approximately HK$83.2 million, down from approximately HK$102.6 million as of December 31, 2020[43][44]. - The Group's mortgage loan as of June 30, 2021, was approximately HK$22.0 million, with an effective interest rate range of 1.3% to 2.3%[43][44]. - The Group's total equity increased to HK$145,274,000 as of June 30, 2021, from HK$142,421,000 at the end of 2020[101]. Operational Highlights - For the six months ended June 30, 2021, the Group's total shipment volume for feeder shipping services increased by 1,175 TEUs or 0.6%, from 186,344 TEUs to 187,519 TEUs, while gross profit decreased by approximately HK$5,614,000 or 21.0%, from approximately HK$26,757,000 to approximately HK$21,143,000[17]. - The Group's sea freight forwarding agency services recorded an increase in shipment volume of 112 TEUs or 2.4%, from 4,618 TEUs to 4,730 TEUs, and an increase in gross profit of approximately HK$1,264,000 or 40.7%, from approximately HK$3,108,000 to approximately HK$4,372,000[19]. - The Group's operational costs totaled approximately HK$164,050,000, representing an increase of approximately HK$25,136,000 or 18.1% compared to the corresponding period of last year[21]. - The Group plans to extend its shipping routes and explore new ports in southern China to broaden its customer base and diversify operating risks[32]. Financing Activities - The Group completed a share placement and subscription on July 30 and August 6, 2021, raising approximately HK$20.5 million for potential vessel acquisitions, repayment of existing borrowings, and general working capital[37][38]. - The Company raised approximately HK$20.5 million from a placing and subscription agreement for 100,000,000 ordinary shares at a price of HK$0.231 per share, representing an 11.2% discount to the closing price of HK$0.26 on the agreement date[65][66]. - The net proceeds will be allocated as follows: 60% for potential acquisition of additional vessels, 30% for repayment of existing borrowings, and 10% for general working capital[71][75]. - As of the report date, HK$6.1 million has been utilized to repay existing borrowings, leaving approximately HK$14.4 million in net proceeds deposited with a licensed financial institution[71][75]. Corporate Governance - The Company has not granted, exercised, or cancelled any options under its Share Option Scheme since its adoption on June 10, 2016[64][68]. - The interests of Directors and Chief Executives in the Company include Mr. Lau Yu Leung and Madam Tong Hung Sum, each holding 945,000,000 shares, representing 67.5% of the Company[79]. - The Company aims to strengthen its financial position through the repayment of existing borrowings, which is part of the strategy following the capital raise[66][70]. - The Company did not declare an interim dividend for the six months ended June 30, 2021, compared to no dividend declared in the same period of 2020[94]. Compliance and Accounting - The Group has not early adopted any new/revised HKFRSs that are effective from January 1, 2021, indicating a conservative approach to accounting changes[118]. - The interim financial statements were prepared in accordance with HKAS 34, reflecting the Group's commitment to transparency and compliance with accounting standards[111]. - The financial statements are presented in Hong Kong dollars (HK$), ensuring consistency with the Group's functional currency[114].

Financial Performance - Revenue for the year ended December 31, 2020, was HK$365,715,000, representing a 8.3% increase from HK$336,704,000 in 2019[8] - Gross profit for 2020 was HK$62,353,000, with a gross profit margin of 17.0%, compared to 14.2% in 2019[8] - Operating profit for 2020 was HK$20,581,000, up from HK$3,871,000 in 2019, indicating a significant improvement in operational efficiency[8] - Net profit attributable to equity holders of the Company for 2020 was HK$26,225,000, a substantial increase from HK$1,602,000 in 2019[8] - Earnings per share for 2020 was HK$1.87, compared to HK$0.11 in 2019, reflecting strong profitability growth[8] - For the year ended 31 December 2020, the Group recorded a revenue of approximately HK$365,715,000, representing an increase of 8.6% compared to HK$336,704,000 for the year ended 31 December 2019[29] - The Group achieved a gross profit of approximately HK$62,353,000, an increase of 30.4% from approximately HK$47,809,000 in the previous year, with a gross profit margin rising from 14.2% to 17.0%[29] - The Group's profit for the year was approximately HK$26,225,000, significantly up from approximately HK$1,602,000 in the prior year[29] Assets and Liabilities - Current assets as of December 31, 2020, were HK$173,596,000, while current liabilities were HK$203,529,000, resulting in net current liabilities of HK$29,933,000[13] - Total assets increased to HK$347,940,000 in 2020, with a gearing ratio of 34.4%[13] - The Group's net current liabilities were approximately HK$29,933,000 as of December 31, 2020, but it believes its cash holdings and future revenue will suffice for working capital needs[56] - The Group had a gearing ratio of 34.4% as of December 31, 2020, compared to 35.9% as of December 31, 2019[55] - The Group's bank balances and cash as of December 31, 2020, were approximately HK$102,641,000, up from approximately HK$74,087,000 as of December 31, 2019[55] Market and Growth Strategies - The Company plans to expand its market presence and enhance service offerings in the feeder shipping and freight forwarding sectors[10] - New product development initiatives are underway to improve service efficiency and customer satisfaction[10] - The Company is exploring potential mergers and acquisitions to strengthen its market position and diversify its service portfolio[10] - The Group is actively seeking opportunities in new ports and customers in southern China to expand its customer base and diversify operating risks[22] - The Group considers recent property market conditions in Hong Kong as an opportunity for property acquisition to enhance profitability and asset base[22] - The Group plans to explore future prospects in property investments, considering the recent retreating property market in Hong Kong as an opportunity for acquisition[47] - The Group aims to extend its shipping routes to new ports in southern China to broaden its customer base and diversify operating risks[45] Operational Efficiency - Revenue from feeder shipping services, carrier owned container services, and barge services increased by approximately HK$33,140,000 or 11.1%, from approximately HK$297,361,000 to approximately HK$330,501,000[32] - The average unit price of bunker charges decreased by approximately 35%, contributing to an increase in gross profit by approximately HK$15,405,000 or 37.1%[33] - The sea freight forwarding agency services recorded a revenue decrease of approximately HK$4,129,000 or 10.5%, from approximately HK$39,343,000 to approximately HK$35,214,000[36] - The Group's operational costs totaled approximately HK$303,362,000, representing an increase of approximately HK$14,467,000 or 5.0% compared to the same period last year[39] Sustainability and Environmental Impact - The Group is committed to long-term sustainability and has complied with all relevant environmental laws and regulations during the reporting year[87] - The Group implemented electricity savings, emission reduction, and recycling initiatives, aiming to create green offices[91] - Air emissions are primarily from gas oil consumption by the vessel fleet, and the Group has taken measures to control emissions[94] - The Group conducts regular maintenance and cleaning of vessels to improve engine performance and reduce air emissions[96] - The Group aims to maximize vessel utilization and minimize fuel consumption through effective routing and management[95] - The Group is committed to minimizing the adverse environmental impact of its operations through various energy-efficient measures[103] - The Group's vessels are maintained according to compliance schedules to reduce emissions and improve performance[104] Employee and Workplace Policies - As of December 31, 2020, the Group employed a total of 193 staff, with 154 in Mainland China and 39 in Hong Kong[129] - The employee turnover rate was 13.77% for females and 7.27% for males, with a significant turnover rate of 40.90% for employees under 30[132] - The Group reported zero work-related fatalities and lost days due to work injury during the year ended December 31, 2020[137] - The Group's remuneration and benefits include allowances, holidays, pensions, and a discretionary bonus scheme for outstanding performance[126] - The Group aims to create a workplace free from discrimination and harassment, providing equal opportunities for all employees[125] - The total training hours of employees for the year ended December 31, 2020, were 40 hours, with an average of 4 hours completed per senior employee[144] Compliance and Governance - The Group has developed its own corporate governance code to ensure transparency, accountability, and independence[86] - The Group prohibits the use of child labour and forced labour across all units and suppliers, with no reported non-compliance during the year ended December 31, 2020[150] - The Group has implemented a zero-tolerance approach to bribery and corruption, adhering to relevant laws and regulations in both Hong Kong and the People's Republic of China[160] - The Group's human resources policies comply with employment regulations in the jurisdictions where it operates, including various ordinances in Hong Kong and labor laws in the PRC[150] - The Group has established a whistle-blowing policy to encourage reporting of suspected business irregularities, ensuring confidentiality and anonymity[162] Community Engagement - The Group encourages employee participation in community welfare and voluntary work, aiming to create lasting benefits for communities[170] - The Group supports initiatives that assess and manage the social impact of operations, contributing to sustainable community development[169] - The Group actively communicates with non-governmental organizations to understand community needs and promote positive messages[170] - The Group's community investment initiatives focus on environmental protection and conservation efforts[173] Future Outlook - The company reported a revenue increase of 15% year-over-year, reaching $1.2 billion in Q3 2023[200] - User data showed a growth of 25% in active users, totaling 5 million by the end of the quarter[200] - The company provided guidance for Q4 2023, expecting revenue between $1.3 billion and $1.5 billion, representing a growth of 10% to 25%[200] - New product launches contributed to a 30% increase in sales, with the latest product line accounting for $300 million in revenue[200] - The company invested $50 million in R&D for new technologies aimed at enhancing user experience[200] - Market expansion efforts led to a 20% increase in market share in the Asia-Pacific region[200] - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of $200 million allocated for this purpose[200] - Strategic partnerships established in Q3 are expected to generate an additional $100 million in revenue over the next year[200] - Overall, the company remains optimistic about future growth, citing strong demand and innovative product offerings[200]

Financial Performance - The Group reported a revenue of approximately HK$168,779,000 for the six months ended 30 June 2020, representing an increase of 5.2% compared to HK$160,446,000 in the same period last year[17]. - Gross profit for the period was approximately HK$29,865,000, an increase of 18.3% from HK$25,235,000 in the previous year, with a gross profit margin rising from 15.7% to 17.7%[17]. - Profit attributable to equity holders of the Company surged to approximately HK$14,693,000, marking a 299.3% increase from HK$3,680,000 in the prior year[17]. - Revenue for the six months ended June 30, 2020, was HK$168,779,000, an increase of 5.8% from HK$160,446,000 in the same period of 2019[72]. - Gross profit for the same period was HK$29,865,000, representing a gross margin of 17.7%, compared to HK$25,235,000 in 2019[72]. - Profit for the period was HK$14,693,000, significantly higher than HK$3,680,000 in the same period of 2019, marking a 298% increase[72]. - The Group's profit before tax for the six months ended 30 June 2020 was HK$7,217,000, compared to HK$4,590,000 for the same period in 2019, representing an increase of approximately 57.0%[110]. - Total comprehensive income for the period was HK$13,955,000, compared to HK$3,738,000 in the same period of 2019[75]. Operational Metrics - Total shipment volume for feeder shipping services, carrier owned container services, and barge services increased by 11.9%, from 166,596 TEUs to 186,344 TEUs[19]. - Gross profit from feeder shipping services and related services increased by approximately HK$3,721,000 or 16.2%, from HK$23,036,000 to HK$26,757,000[19]. - Sea freight forwarding agency services experienced a decrease in shipment volume of 9.8%, from 5,118 TEUs to 4,618 TEUs, but gross profit increased by 41.3%, from HK$2,199,000 to HK$3,108,000[20]. - The gross profit margin for sea freight forwarding agency services improved from 13.4% to 17.9%[21]. Assets and Liabilities - Current assets as of 30 June 2020 were HK$143,194,000, compared to HK$138,305,000 as of 31 December 2019[14]. - The Group's net current assets increased to HK$28,846,000 from HK$11,130,000 at the end of 2019[14]. - The gearing ratio increased to 37.6% from 35.9%[14]. - The Group's total borrowings amounted to approximately HK$45,516,000 as of June 30, 2020, compared to approximately HK$38,548,000 as of December 31, 2019, resulting in a debt-to-equity ratio of 37.6%[42]. - Cash and cash equivalents at the end of the reporting period were HK$79,567,000, up from HK$61,277,000 in the previous year, marking an increase of approximately 29.9%[87]. - Trade receivables from third parties amounted to HK$48,875,000 as of June 30, 2020, down from HK$53,231,000 at December 31, 2019[178]. - Trade payables to third parties were HK$45,544,000 as of June 30, 2020, compared to HK$55,040,000 at December 31, 2019[195]. Staff and Management - The Group's total staff costs for the six months ended June 30, 2020, were approximately HK$17,268,000, slightly down from approximately HK$17,290,000 in the same period last year[50]. - As of June 30, 2020, the Group had 193 employees, an increase from 191 employees as of December 31, 2019[50]. - The remuneration policy of the Group is regularly reviewed based on legal frameworks, market conditions, and individual performance[58]. Future Plans and Strategy - The Group plans to extend routes and explore new ports in southern China to diversify its customer base and operating risks[33][36]. - The company continues to focus on enhancing its sea freight transportation and freight forwarding services in Hong Kong and the PRC, aiming for market expansion[90]. Shareholder Information - As of June 30, 2020, Mr. Lau Yu Leung and Madam Tong Hung Sum each hold 945,000,000 shares, representing a 67.50% interest in the Company[63]. - Mr. Lau Tak Fung Wallace and Mr. Lau Tak Kee Henry each hold 52,500,000 shares, representing a 3.75% interest in the Company[63]. - Ever Winning Investment holds a beneficial ownership of 63.75% in the company, with 892,500,000 shares[69]. - The company did not declare an interim dividend for the six months ended June 30, 2020, compared to no dividend declared in the same period of 2019[69]. Other Financial Information - The Group's other income decreased by 31.6% to approximately HK$5,526,000 from HK$8,079,000 in the prior year, mainly due to a reduction in gains on financial assets[27][29]. - Administrative and other operating expenses were HK$27,500,000, slightly reduced from HK$28,097,000 in 2019[72]. - The Group recorded a bank interest income of HK$52,000 and a net exchange gain of HK$363,000 for the six months ended June 30, 2020[133]. - The Group's financing costs, including interest on borrowings and lease liabilities, totaled HK$674,000 for the six months ended June 30, 2020, compared to HK$627,000 in the previous year[133].

Financial Performance - Revenue for the year ended December 31, 2019, was HK$336,704,000, representing a slight decrease from HK$336,962,000 in 2018[8] - Gross profit margin for 2019 was 14.2%, an increase from 14.0% in 2018[8] - Operating profit for 2019 was HK$3,871,000, compared to an operating loss of HK$4,088,000 in 2018[8] - Profit attributable to equity holders of the company for 2019 was HK$1,602,000, a recovery from a loss of HK$5,230,000 in 2018[8] - Earnings per share for 2019 was 0.11 HK cents, compared to a loss per share of 0.37 HK cents in 2018[8] - The Group achieved a profit of approximately HK$1,602,000 for the year, compared to a loss of approximately HK$5,230,000 in the previous year[17] Assets and Liabilities - Current assets as of December 31, 2019, were HK$138,305,000, with current liabilities of HK$127,175,000, resulting in net current assets of HK$11,130,000[13] - Total assets at the end of 2019 were HK$242,606,000, with a gearing ratio of 35.9%[13] - The Group's bank balances and cash as of December 31, 2019, were approximately HK$74,087,000, compared to approximately HK$73,035,000 as of December 31, 2018[47] - The Group's gearing ratio as of December 31, 2019, was 35.9%, up from 29.7% as of December 31, 2018[47] Operational Performance - Container throughput at Hong Kong port decreased by 6.6% year-on-year, impacting the Group's operations[28] - Revenue from feeder shipping services, carrier owned container services, and barge services decreased by approximately HK$11,267,000 or 3.7%[29] - The gross profit margin for the aforementioned services ranged from 9.7% to 16.8%, down from 10.6% to 20.2% in the previous year[29] - Sea freight forwarding agency services saw an increase in revenue of approximately HK$11,009,000 or 38.9%, rising from approximately HK$28,334,000 to approximately HK$39,343,000[33] - The Group's operational costs totaled approximately HK$288,895,000, representing an increase of approximately HK$5,730,000 or 2.0% compared to the same period last year[36] Strategic Initiatives - The company plans to expand its market presence and enhance service offerings in the upcoming year[8] - New product development initiatives are underway to improve service efficiency and customer satisfaction[8] - The company is exploring potential mergers and acquisitions to strengthen its market position[8] - The Group is actively seeking opportunities in new ports and customers in southern China to expand its customer base and diversify operating risks[21] - The Group plans to closely monitor ship usage and implement measures to improve cost-effectiveness[21] Environmental Performance - The Group is committed to improving its Environmental, Social, and Governance (ESG) performance and has engaged stakeholders to understand the impacts of its operations[66] - Total NOx emissions amounted to 732.63 tonnes, SOx emissions were 431.44 tonnes, and PM emissions totaled 59.26 tonnes[87] - Total Scope 1 GHG emissions were 28,502.37 tCO2e, Scope 2 emissions were 123.88 tCO2e, and Scope 3 emissions were 15.00 tCO2e, leading to total GHG emissions of 28,641.25 tCO2e[96] - The Group is committed to reducing emissions from vessels by implementing fuel-saving measures and conducting regular maintenance[90] - The Group has established green office initiatives focusing on energy conservation and emission reduction[89] Employee and Social Responsibility - The Group employed a total of 191 staff as of December 31, 2019, reflecting its workforce size[115] - The Group has implemented a whistle-blowing policy to report fraud and corruption, providing clear channels for anonymous reporting[145] - The Group encourages employee participation in community welfare and voluntary work, promoting positive social impacts alongside its growth[148][149] - The Group prohibits the use of child and forced labor across all units and suppliers[131] - The Group emphasizes sustainable practices in supply chain management, ensuring suppliers align with its environmental vision[135] Corporate Governance - The company has a diverse board with members experienced in various sectors, including finance, property, and logistics, enhancing its strategic decision-making capabilities[184][192] - The company emphasizes corporate governance with independent directors serving on key committees such as audit and remuneration[184][192] - The management team is involved in both strategic planning and operational execution, ensuring alignment with corporate goals[174][176] - The board composition reflects a commitment to governance and oversight, with members holding significant experience in their respective fields[184][192]

EVER HARVEST GROUP HOLDINGS LIMITED 永豐集團控股有限公 司 (Incorporated in the Cayman Islands with limited liability) Stock code 股份代號 : 1549 (於開曼群島註冊成立的有限公司) Interim Report 2019 中期報告 EVER HARVEST GROUP HOLDINGS LIMITED 永豐集團控股有限公司 | --- | --- | --- | |----------------------------------------------------------|----------------------|-------| | | | | | CONTENTS | 目錄 | | | Corporate Information | 公司資料 | 2 | | Financial Highlights | 財務摘要 | 4 | | Management Discussion and Analysis | 管理層討論及分析 | 6 | | Other Information | 其他資 ...

Financial Performance - Revenue for the year ended December 31, 2018, was HK$336,962,000, a decrease of 2.0% compared to HK$345,004,000 in 2017[9] - Gross profit margin for 2018 was 16.0%, down from 16.9% in 2017, indicating a decline in profitability[9] - Operating loss for the year was HK$4,088,000, compared to an operating profit of HK$536,000 in 2017[9] - Net loss attributable to equity holders of the Company for 2018 was HK$5,230,000, compared to a net loss of HK$1,161,000 in 2017[9] - The Group's gross profit for the year was approximately HK$53,797,000, representing a decrease of 7.6% from approximately HK$58,252,000 in the prior year[28] - The Group's loss for the year increased to approximately HK$5,230,000 from a loss of approximately HK$1,161,000 in the previous year[28] - Other income decreased to approximately HK$3,231,000, down by approximately HK$2,598,000 or 44.6% year-on-year, primarily due to a significant drop in government grants from approximately HK$3,491,000 to approximately HK$610,000[39][40] - The Group's operational costs totaled approximately HK$283,165,000, a decrease of approximately HK$3,587,000 or 1.3% compared to the previous year[37] - The Group's operating costs totaled approximately HK$283,165,000, a decrease of about HK$3,587,000 or 1.3% compared to the same period last year[38] Assets and Liabilities - Current assets as of December 31, 2018, were HK$132,308,000, a decrease from HK$146,965,000 in 2017[14] - Total assets at the end of 2018 were HK$220,900,000, compared to HK$238,975,000 in 2017[14] - The gearing ratio as of December 31, 2018, was 29.7%, an increase from 30.7% in 2017[14] - As of December 31, 2018, the Group held bank balances and cash of approximately HK$73,035,000, down from approximately HK$86,521,000 as of December 31, 2017[54][56] - The Group's gearing ratio as of December 31, 2018, was 29.7%, slightly down from 30.7% as of December 31, 2017[54][56] - As of December 31, 2018, leasehold land and buildings amounted to approximately HK$69,358,000, a decrease from approximately HK$71,709,000 as of December 31, 2017[60] - Trade receivables were approximately HK$5,342,000, down from approximately HK$6,451,000 in the previous year[60] Operational Performance - Container throughput at Hong Kong port decreased by 5.7% compared to the same period last year[30] - Shipment volume for feeder shipping services decreased by 6,837 TEUs or 1.9%, from 358,383 TEUs to 351,546 TEUs[31] - The gross profit for feeder shipping services decreased by approximately HK$2,572,000 or 5.1%, from approximately HK$50,731,000 to approximately HK$48,159,000[31] - Sea freight forwarding agency services recorded a decrease in shipment volume of 5,844 TEUs or 37.0%, from 15,810 TEUs to 9,966 TEUs[34] - The gross profit margin for sea freight forwarding agency services increased from 10.5% to 19.9%[34] Strategic Initiatives - The Group operates mainly in feeder shipping services, carrier owned container services, and sea freight forwarding agency services across multiple regions in China[17] - The Company aims to strengthen relationships with customers and enhance local market understanding through strategic operations in key transportation ports[17] - Future strategies may include market expansion and potential new service offerings to improve financial performance[16] - The Group is exploring opportunities to extend its shipping routes to new ports in southern China, despite previous targeted ports showing unsatisfactory profit margins[52][55] - The Group is rearranging existing shipping routes to increase vessel utilization rates due to concerns over low gross profit margins in regular routes[53][55] - On December 10, 2018, the Group acquired three barges for a total consideration of HK$19,450,000, aimed at reducing costs and improving efficiency in barge services[43][48] - The Group plans to utilize the surplus capacity of the newly acquired barges to provide services to other parties after meeting its own annual requirements[44][48] Environmental, Social, and Governance (ESG) Performance - The Group is committed to improving its Environmental, Social, and Governance (ESG) performance and has complied with relevant environmental laws and regulations[83] - The Group has implemented measures to control air emissions, primarily from the burning of gas oil from vessels, to mitigate air pollution[85] - Total NOx emissions amounted to 729.64 tonnes, SOx emissions were 429.68 tonnes, and PM emissions reached 59.02 tonnes[92] - The group consumed 8,107.11 tonnes of gas oil and 204,177 kWh of electricity during the year ended December 31, 2018[97] - Total greenhouse gas emissions were reported at 28,539.6 tCO2e, with Scope 1 emissions at 28,385.98 tCO2e and Scope 2 emissions at 135.92 tCO2e[101] - The group implemented energy-efficient measures, including using energy-efficient equipment and lighting in offices[96] - At least 90% of staff members have email access, reducing paper consumption through electronic communication[104] - The group has established a green office initiative, actively implementing energy-saving and waste reduction measures[88] - No significant hazardous waste was produced or emitted to water and land during the reporting period[107] - The group aims to minimize the adverse impact of its operations on the environment through various sustainability initiatives[94] - Fuel consumption reduction measures have been put in place to decrease emissions from vessels[95] - The group has committed to regular maintenance and cleaning of vessels to ensure compliance with environmental regulations[91] - Total paper consumption was 3.69 tonnes, and toner consumption was 35 pieces[108] Workforce and Labor Practices - As of December 31, 2018, the Group employed a total of 192 staff, with 134 female and 58 male employees[120] - The workforce breakdown shows 37 employees in Hong Kong and 155 in Mainland China, with 191 full-time and 1 part-time employee[123] - Employees aged 30-50 represent 57.8% of the workforce, while those under 30 account for 31.3%[123] - The Group encourages employee development through diversified on-the-job training and continuing education programs[131] - The Group has established a comprehensive development plan to enable employees to reach their full potential[130] - The Group prohibits the use of child and forced labor across all units and suppliers, maintaining compliance with relevant regulations[133] - The Group has a zero-tolerance policy towards child labor and forced labor, with no violations reported in compliance with relevant regulations[135] - The Group provides diverse on-the-job training based on employee positions and expertise, encouraging continuous education related to their work[136] - The Group adheres to high standards of health and safety in workplace operations, complying with local regulations in Hong Kong and the PRC[140] Governance and Compliance - The Group has implemented a whistle-blowing policy to report fraud and corruption, ensuring clear channels for reporting suspected irregularities[149] - The Group is committed to maintaining high integrity standards in business operations, following relevant laws and regulations in both the PRC and Hong Kong[148] - The company has established anti-corruption policies and procedures to address bribery, extortion, fraud, and money laundering[171] - There were no concluded legal cases regarding corrupt practices against the Group or its employees during the year ended December 31, 2018[150] - The company complies with relevant laws and regulations impacting employment practices, including anti-discrimination policies[166] - The company has a framework for monitoring and reviewing employment practices to ensure ethical labor standards[171] Management and Leadership - Mr. Lau Tak Fung Wallace has been the CEO since March 3, 2016, overseeing corporate strategies and business development[179] - Mr. Lau Tak Kee Henry, appointed as an executive director on March 3, 2016, is responsible for corporate and sales strategies, as well as freight forwarding and IT support services[185] - Madam Tong Hung Sum has been a non-executive director since March 3, 2016, advising on overall strategic planning without participating in daily operations[187] - Mr. Lo Wan Sing Vincent, an independent non-executive director since June 10, 2016, has over 30 years of experience in jewellery and property investment[195] - Mr. Lam Lo, appointed as an independent non-executive director on June 10, 2016, has over 18 years of experience in knitwear and garment industries[198] - The company has a strong management team with diverse backgrounds in business administration and strategic planning[182][186] - The board includes members with significant political and business experience, enhancing the company's strategic direction[180][199] - The company is focused on implementing operational plans and overseeing investment activities to drive growth[184][185] - The management team is actively involved in the day-to-day operations, ensuring effective execution of business strategies[182][186] - The company aims to leverage its leadership's expertise to expand its market presence and enhance operational efficiency[184][199]