Financial Performance - The Group recorded a revenue increase of approximately 4.3%, from approximately HK$663,036,000 in the year ended 30 September 2018 to approximately HK$691,750,000 in the year ended 30 September 2019[8] - The net profit increased by approximately 63.8%, from approximately HK$40,311,000 in the year ended 30 September 2018 to approximately HK$66,035,000 in the year ended 30 September 2019[8] - Gross profit increased by approximately 17.9%, from approximately HK$193,682,000 to approximately HK$228,260,000 during the same period[10] - The net profit for the year ended 30 September 2019 was approximately HK$66,035,000, compared to approximately HK$40,311,000 for the year ended 30 September 2018[12] - The Board recommended a final dividend of HK5.2 cents per ordinary share for the year ended 30 September 2019, compared to HK2.6 cents in 2018[8] Operational Efficiency - The Group aims to enhance its market share and broaden its revenue base by investing in and developing its OEM business[23] - The Group will focus on improving operational efficiency and core competitiveness to ensure steady business development in 2020[24] - Selling and distribution costs remained stable due to effective cost control measures implemented after the disposal of subsidiaries[10] - Administrative expenses also remained stable, reflecting the Group's ongoing cost management strategies[10] Financial Position - As of 30 September 2019, the Group had no interest-bearing bank borrowings, down from approximately HK$36,654,000 as of 30 September 2018, resulting in a gearing ratio of nil compared to approximately 9.4% in the previous year[27] - The current ratio improved to approximately 2.9 as of 30 September 2019, up from approximately 2.2 as of 30 September 2018[27] - The Group's restricted bank deposits increased to approximately HK$13,101,000 as of 30 September 2019, compared to approximately HK$12,980,000 as of 30 September 2018[27] - Capital commitments for the acquisition of property, plant, and equipment were approximately HK$836,000 as of 30 September 2019, significantly down from approximately HK$6,842,000 as of 30 September 2018[29] Corporate Governance - The Company complied with all applicable code provisions of the Corporate Governance Code during the year ended 30 September 2019, except for certain deviations[33] - The Board consists of seven members, including four executive Directors and three independent non-executive Directors[35] - The Board is responsible for the leadership and control of the Group, overseeing strategic decisions and performance[33] - The Company has arranged for appropriate insurance cover for Directors' and officers' liabilities arising from corporate activities[33] Environmental Commitment - The Group's environmental management system was accredited with ISO 14001:2015, demonstrating its commitment to sustainable practices[93] - The Group aims to minimize environmental impact from business activities while delivering premium quality products[93] - Continuous efforts are made to improve public health, community safety, and environmental protection through a responsible chemical sales and management system[93] - The Group is dedicated to research and development of ecologically sound and occupationally safe products[93] Employee Management - As of 30 September 2019, the Group employed a total of 354 employees, a decrease from 365 employees as of 30 September 2018[31] - Staff costs for the year ended 30 September 2019 amounted to approximately HK$86,377,000, an increase of about 28.2% compared to approximately HK$67,399,000 for the year ended 30 September 2018[31] - The Group emphasizes equal opportunity and diversity in the workplace, ensuring no discrimination based on personal characteristics[127] - The Group has established objective performance indicators for annual employee evaluations to encourage continuous improvement[134] Risk Management - The Audit Committee held three meetings during the year ended September 30, 2019, to discuss and review the audit plan and the Group's financial results for the year and the six months ended March 31, 2019[64][68] - The Company has implemented measurable objectives to achieve the Board Diversity Policy and reviews these objectives periodically[55][60] - The Group's internal control procedures are deemed effective and adequate, covering financial, operational, compliance controls, and risk management functions[78] Community Engagement - The Group has contributed to education in impoverished areas by constructing Youxin Peimiao Dingan Primary School and supporting various educational initiatives since 2006[168] - The Group plans to establish community investment policies to provide clearer management direction and measures for employees[169] - The Group is committed to protecting customer data and privacy, ensuring that customer information is not used for publicity without consent[162] Shareholder Relations - The Company has adopted a Dividend Policy to allow Shareholders to participate in profits while retaining adequate reserves for future growth[80] - The Board aims to balance Shareholders' expectations with prudent capital management through a sustainable Dividend Policy[80] - Factors considered for dividend declaration include actual and expected financial performance, available surplus, and future cash flow requirements[82]
星谦发展(00640) - 2019 - 年度财报