Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 3,450,954,000, a decrease of 23.34% compared to HKD 4,501,532,000 in 2022[27]. - The net loss for the year was HKD 1,765,000, significantly reduced from a loss of HKD 252,722,000 in 2022[27]. - Shareholders' profit attributable to the company was HKD 4,047,000, a turnaround from a loss of HKD 119,918,000 in 2022, with basic earnings per share increasing to HKD 0.13 cents from a loss of HKD 3.89 cents[28]. - The company decided not to declare a final dividend for 2023, compared to a dividend of HKD 0.02 per share for 2022[29]. - Total revenue for the year ended December 31, 2023, was HKD 3,450,954,000, a decrease from HKD 4,501,532,000 in 2022, representing a decline of approximately 23.3%[86]. - Revenue from customer contracts amounted to HKD 4,179,368,000, with property management fees contributing HKD 63,281,000[80]. - The company reported a pre-tax loss of HKD 26,559,000 for 2023, a significant improvement compared to a loss of HKD 325,723,000 in 2022, representing a reduction of approximately 91.8%[106]. - The income tax expense for the year was HKD 24,794,000, down from HKD 73,001,000 in the previous year, indicating a decrease of about 66.0%[106]. Business Strategy and Market Development - The company faced significant challenges due to a global economic downturn and a severe decline in overseas orders, yet core businesses continued to develop steadily[14]. - Despite a substantial drop in product profits, the company adopted a strategy of "risk prevention and stable growth" to expand both domestic and international markets[14]. - The company is actively researching market demands and trends to respond to intense industry competition and rapid technological advancements[14]. - Continuous optimization of business, market, and product structures is being pursued in response to market and order demands[14]. - The company plans to strengthen market development efforts and adjust market expansion directions to align with the "14th Five-Year Plan" goals[23]. - The company is actively seeking new business development opportunities to mitigate risks associated with reliance on a single business line[183]. Operational Efficiency and Innovation - The company is committed to continuous improvement in production capacity and efficiency through technological innovation[14]. - The construction of the integrated circuit packaging substrate factory in Nantong is expected to be completed by late May 2024, enhancing production capacity[15]. - The Huizhou Industrial Park Phase V has completed construction and will be put into use in 2024, further expanding the company's technological production capacity[15]. - The company has made significant investments in technology innovation, achieving breakthroughs in various fields, including 3D touch technology and energy storage power supply[22]. - The company plans to enhance production automation and optimize product quality while expanding its customer base and exploring new business opportunities in 2024[35]. Corporate Governance and Board Structure - The board of directors includes a female representation of 12.5%, with a target to increase this to over 20% by 2025[8]. - The Audit Committee held two meetings in 2023 to review internal controls, risk management, and financial performance[1]. - The Remuneration Committee convened three times in 2023 to discuss the remuneration and assessment system for directors and senior management[6]. - The Nomination Committee is implementing a diversity policy for selecting board candidates, considering various personal factors[8]. - The board of directors consists of 8 members, with 3 independent non-executive directors, ensuring compliance with corporate governance standards[68]. - The company has adopted a strict code of conduct for securities trading, prohibiting directors and management from trading company securities 30 days before interim results and 60 days before annual results[69]. - The board is responsible for setting the company's goals, strategies, policies, and risk management, delegating daily operations to management[70]. - The company has a structured process for the re-election of directors, ensuring transparency and adherence to regulatory requirements[67]. Employee and Stakeholder Engagement - The company had approximately 7,200 employees distributed across mainland China, Hong Kong, and Vietnam[60]. - The employee gender ratio as of December 31, 2023, was approximately 58.81% male to 41.19% female, compared to 58.13% male to 41.87% female in 2022[177]. - The company continues to maintain a balanced gender hiring policy, aiming for gender ratio equilibrium in the workforce[177]. - The company acknowledges the contributions of its employees and partners in its development, highlighting the importance of loyalty and professionalism[63]. Environmental, Social, and Governance (ESG) Initiatives - The ESG committee, established in 2021, is responsible for overseeing the company's environmental, social, and governance strategies, with regular reporting to the board[179]. - Key performance indicators for ESG include total emissions, waste generation, and energy and water efficiency, with a commitment to setting quantifiable targets despite operational challenges[181]. - The company recognizes the importance of product safety, product quality, and corporate governance as the top three ESG priorities based on stakeholder feedback[180]. - The company aims to create long-term value through sustainable development practices in its operations, sales, and management[182]. - The report covers the company's ESG performance from January 1, 2023, to December 31, 2023, in accordance with the Hong Kong Stock Exchange's guidelines[184]. - The board regularly reviews the effectiveness of ESG initiatives and assesses potential risks related to ESG issues impacting the business model[181]. - The company is committed to continuously reviewing and formulating relevant environmental, social, and governance policies, strategies, and objectives[196]. - The company aims to enhance communication with stakeholders and optimize the disclosure of environmental, social, and governance reports to improve performance and competitiveness[196]. Financial Position and Assets - As of December 31, 2023, total assets decreased by 4.47% to HKD 14,583,284,000 compared to HKD 15,265,828,000 in 2022[45]. - Non-current assets decreased by 2.44% to HKD 11,319,869,000, primarily due to a decline in the valuation of investment properties[45]. - Current assets decreased by 10.92% to HKD 3,263,415,000, mainly due to a reduction in accounts receivable and inventory[45]. - Shareholders' equity attributable to the company decreased by 3.23% to HKD 7,411,477,000 from HKD 7,658,694,000 in 2022[46]. - The company's cash and cash equivalents as of December 31, 2023, amounted to HKD 1,713,152,000[54]. - The carrying value of investment properties as of December 31, 2023, was HKD 8,536,258,000, down from HKD 8,895,276,000 in 2022[76]. - The fair value of investment properties decreased to HKD 8,536,258,000 in 2023 from HKD 8,895,276,000 in 2022, reflecting a decline of approximately 4.0%[118].
航天控股(00031) - 2023 - 年度财报