Financial Performance - For the fiscal year ending June 30, 2023, the company reported revenue of RMB 110.0 million, a decrease of 23.4% compared to RMB 143.6 million for the previous year[3]. - The company recorded a net loss attributable to shareholders of RMB 58.7 million, an increase in loss of 183.6% from RMB 20.7 million in the prior year[3]. - Total assets decreased by 18.4% to RMB 188.1 million from RMB 230.6 million year-over-year[3]. - Cash and cash equivalents fell by 45.7% to RMB 26.1 million, down from RMB 48.1 million[3]. - For the fiscal year ending June 30, 2023, the total revenue recorded by the company was approximately RMB 110.0 million, a decrease of 23.4% compared to RMB 143.6 million in 2022[19]. - The planting business generated revenue of approximately RMB 0.7 million, down 92.2% from RMB 8.5 million in 2022, primarily due to the impact of COVID-19 lockdowns on crop management[20]. - The fruit distribution business reported revenue of approximately RMB 55.6 million, a decline of 54.8% from RMB 123.2 million in the previous year, affected by pandemic-related restrictions[21]. - The air conditioning distribution business achieved revenue of approximately RMB 53.8 million, an increase of 351.4% from RMB 11.9 million in 2022, indicating successful market penetration[21]. - The company recorded other income of approximately RMB 5.2 million, down from RMB 7.6 million in 2022, mainly from management income related to agreements with individual farmers[23]. - A significant impairment loss of approximately RMB 32.4 million was recorded for property, plant, and equipment, attributed to the adverse effects of COVID-19 on the planting business[24]. - Employee costs increased by approximately 40.5% to RMB 11.8 million, up from RMB 8.4 million in 2022, due to the expansion of the air conditioning distribution business[28]. - The loss attributable to the owners of the company for the year ended June 30, 2023, was approximately RMB 58.7 million, an increase from RMB 20.7 million in 2022, mainly due to impairment losses and decreased revenue from planting and distribution businesses[33]. Business Operations - The company expanded its passion fruit cultivation to diversify its income sources and reduce reliance on citrus fruits[7]. - The air conditioning distribution business began generating significant revenue, contributing a major portion to the company's overall income[7]. - The company acquired a Chinese fruit distribution company to enhance its market presence despite the challenges posed by the pandemic[7]. - The outlook for the planting business is optimistic as restrictions related to COVID-19 are lifted, allowing farmers to better care for their crops[10]. - The company anticipates steady growth in the air conditioning distribution business due to increasing demand driven by climate change[10]. - The company is actively engaging with domestic suppliers to ensure a stable supply of high-quality fruits for its distribution business[10]. - The company plans to adopt a cautious approach in its planting and fruit distribution businesses due to ongoing challenges in the Chinese market[16]. - The air conditioning distribution business is expected to continue stable growth in 2023 and 2024, as demand remains less affected by overall consumer sentiment[16]. - The company aims to expand its fruit distribution business by acquiring new customers and establishing more supply agreements despite a challenging operating environment[21]. Corporate Governance - The company was incorporated in Bermuda on June 4, 2003, and its main business includes the cultivation, sale of agricultural products, and distribution of fruits[62]. - The board of directors underwent changes, with the appointment of Liu Jie as an independent non-executive director on July 11, 2022, and the resignation of He Xiaohong on December 30, 2022[74]. - The company has adopted a new share option scheme effective from December 30, 2020, allowing for a ten-year period for granting options[83]. - The board consists of six members as of June 30, 2023, including one executive director, one non-executive director, and four independent non-executive directors[122]. - The company has established a remuneration committee to review and approve the overall remuneration policy for the group[106]. - The company has complied with the corporate governance code, with some deviations noted regarding the roles of the chairman and CEO being held by the same individual[117]. - The independent auditor for the consolidated financial statements is Deloitte, with a resolution to reappoint them to be presented at the upcoming annual general meeting[114]. - The company has maintained good corporate governance practices to enhance accountability and transparency to investors and shareholders[117]. - The board regularly meets to discuss matters affecting the group's operations, ensuring that all directors have access to relevant information[120]. - The company has established three committees: audit, nomination, and remuneration, each with specific responsibilities[136]. - The company has achieved measurable targets under its board diversity policy during the reporting period[127]. - The attendance record for board meetings shows active participation, with Ng Ong Nee attending 4 out of 15 board meetings[132]. - The company emphasizes the importance of independent professional advice for directors in fulfilling their duties[131]. - The board's diversity policy considers various factors, including gender, age, cultural background, and professional experience[126]. Environmental, Social, and Governance (ESG) - The company continues to prioritize environmental, social, and governance (ESG) goals, ensuring sustainable development and a healthy work environment for employees[173]. - The management team regularly evaluates ESG activities and reports to the board, ensuring compliance with relevant laws and regulations[176]. - Key performance indicators related to ESG matters are regularly collected and reviewed to ensure compliance and performance improvement[177]. - The company engages with stakeholders through various communication channels, including shareholder meetings and direct inquiries, to address concerns and gather feedback[179]. - The company has identified critical ESG areas through stakeholder engagement, focusing on air emissions, resource usage, and employee health and safety[183]. - The company aims to minimize adverse environmental impacts while balancing cost reduction and resource efficiency in its operations[185]. - Direct emissions of sulfur oxides decreased by 65.08% to 0.22 kg in 2023 from 0.63 kg in 2022[192]. - Direct emissions of nitrogen oxides decreased by 65.82% to 296.07 kg in 2023 from 866.14 kg in 2022[192]. - Direct emissions of suspended particulates decreased by 65.82% to 13.73 kg in 2023 from 40.17 kg in 2022[192]. - Direct carbon dioxide equivalent emissions decreased by 65.82% to 39.00 tons in 2023 from 114.11 tons in 2022[192]. - Indirect carbon dioxide equivalent emissions from the Houp Plant decreased by 27.09% to 100.11 tons in 2023 from 137.30 tons in 2022[192]. - Indirect carbon dioxide equivalent emissions from the China office decreased by 35.97% to 4.29 tons in 2023 from 6.70 tons in 2022[192]. - The company plans to reduce air pollutants and carbon dioxide equivalent emissions to within 1% to 3% in the coming year under similar operating conditions[196]. - The company has implemented measures to train and monitor employees on energy and fuel usage to reduce air pollutants and carbon emissions[196]. - The company has not received any violations or warnings from government environmental agencies during the reporting period[189]. - The company adheres to all local environmental laws and regulations and is committed to minimizing adverse environmental impacts[189]. - The company did not plant any trees during the reporting period due to the ongoing impact of the COVID-19 pandemic[197]. - The wastewater generated mainly comes from daily cleaning needs of employees at the Chinese office and the planting site, with no significant discharge recorded[197]. - The company reported that the total amount of hazardous, non-hazardous, and organic waste remained the same as the previous reporting period, with minimal hazardous waste generated[198]. - The company has implemented measures to encourage employees to reduce the generation of non-hazardous and hazardous waste[198]. - The company invested in specialized equipment to control weed growth without using chemical herbicides, producing organic fertilizer from collected organic waste[200]. - The company's operations did not produce any noise or light emissions during the reporting period, as the planting fields are distanced from residential areas[200]. - The company is committed to improving energy efficiency and minimizing emissions and waste generation, fully complying with applicable environmental laws and regulations[200].
亚洲果业(00073) - 2023 - 年度财报