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建滔集团(00148) - 2022 - 年度财报
00148KINGBOARD HLDG(00148)2023-04-24 10:18

Financial Performance - In FY 2022, Kingboard Holdings reported revenue of HK49,375.9million,adecreaseof1349,375.9 million, a decrease of 13% from HK56,755.3 million in FY 2021[6] - EBITDA for FY 2022 was HK9,445.3million,down469,445.3 million, down 46% from HK17,559.9 million in FY 2021[6] - The net profit attributable to owners of the Company for FY 2022 was HK3,882.7million,adeclineof633,882.7 million, a decline of 63% compared to HK10,565.4 million in FY 2021[6] - Basic earnings per share based on underlying net profit decreased to HK3.502inFY2022fromHK3.502 in FY 2022 from HK9.537 in FY 2021, representing a 63% drop[6] - The proposed final dividend per share for FY 2022 is HK0.75,down690.75, down 69% from HK2.44 in FY 2021[6] - The net asset value per share decreased by 5% to HK54.2inFY2022fromHK54.2 in FY 2022 from HK56.8 in FY 2021[6] Segment Performance - Laminates Division sales declined by 23% to 96 million sheets, with segment revenue down 32% to HK19,938.6millionandEBITDAdecreasingby6619,938.6 million and EBITDA decreasing by 66% to HK3,119.6 million[16] - The PCBs Division's revenue slightly decreased by 3% to HK13,183.7million,whileEBITDAshowedamilddecreaseof213,183.7 million, while EBITDA showed a mild decrease of 2% to HK1,726 million[17] - Chemicals Division revenue fell by 15% to HK13,893.4million,withEBITDAdown3613,893.4 million, with EBITDA down 36% to HK2,804 million due to dropping chemical product prices and rising raw material costs[18] - Property Division revenue surged by 164% to HK6,261.6million,drivenbya3.2timesincreaseinpropertysalesandan86,261.6 million, driven by a 3.2 times increase in property sales and an 8% rise in rental income[20] Strategic Initiatives - The Group plans to continue market expansion and product portfolio enhancement, particularly in high-end and high-value-added products[16] - The Group's management focused on enhancing production efficiency and reducing energy consumption amid rising costs, achieving better price-performance in laminate products[16] - The Group's diversified business portfolio and vertical value chain helped maintain a robust financial position despite challenging market conditions[11] Investment and Capacity Expansion - The Group invested approximately HK4.8 billion in new production capacity and HK1.7billioninpropertyconstructionexpensesduringtheperiod[23]−ThenewlaminatesplantinShaoguanhasbeenfullycommissioned,addingstrategiccapacitiestotheGroup[33]−Monthlycapacitiesof4,200tonnesofglassyarnand1,050tonnesofcopperfoilwereaddedinLianzhou,GuangdongProvince[33]−TheGroup′sexpansionplansinThailandaimtosupportoverseasgrowthandincreasecapacitiesforlaminatesandupstreammaterials[33]EnvironmentalandSustainabilityEfforts−TheGroupisestablishingsolarphotovoltaicpowerprojectsexpectedtorecoupcostswithinfiveyearswhileprovidinglong−termbenefits[32]−TheHebeiaceticacidprojectaimstocaptureandrecycle200,000tonnesofcarbondioxideperyear,supportingtheGroup′sgreeninitiatives[32]−TheChemicalsDivisionaimstopromotegreenandlow−carbondevelopmentthroughinnovationandtechnology,focusingonhigh−qualitygrowthwithintelligentsolutions[39]CorporateGovernance−TheCompanyhascompliedwiththeCorporateGovernanceCodethroughouttheyearendedDecember31,2022[130]−TheBoardrecognizestheimportanceofcorporategovernancepracticesforthebenefitofstakeholdersandshareholders[165]−TheBoardplanstoholdmeetingsquarterly,withaminimumoffourmeetingsinthecomingyear[174]−TheCompanyhasadoptedinternalguidelinesformattersrequiringBoardapproval[172]RiskManagement−TheGroupfacessignificantrisksincludingproductdefects,whichcouldleadtosubstantialliabilityclaimsaffectingoperationsandreputation[56]−TheGroup′sfinancialconditionandbusinessprospectsmaybeadverselyaffectedifitfailstocompeteeffectivelyinitsindustry[63]−TheGroup′soperationsaresubjecttovariousuncertaintiesthatcouldmateriallyimpactitsbusinessperformanceandoutlook[61]ShareholderRelations−TheGroupexpressedgratitudetoshareholders,clients,banks,management,andemployeesfortheirsupportduringtheperiod[43]−TheBoardwillreviewthedividendpolicyperiodically,consideringfinancialresults,distributablereserves,andfuturedevelopmentplans[76]−ThetotalamountofretainedprofitsandsharepremiumofthecompanyasofDecember31,2022,wasHK1.7 billion in property construction expenses during the period[23] - The new laminates plant in Shaoguan has been fully commissioned, adding strategic capacities to the Group[33] - Monthly capacities of 4,200 tonnes of glass yarn and 1,050 tonnes of copper foil were added in Lianzhou, Guangdong Province[33] - The Group's expansion plans in Thailand aim to support overseas growth and increase capacities for laminates and upstream materials[33] Environmental and Sustainability Efforts - The Group is establishing solar photovoltaic power projects expected to recoup costs within five years while providing long-term benefits[32] - The Hebei acetic acid project aims to capture and recycle 200,000 tonnes of carbon dioxide per year, supporting the Group's green initiatives[32] - The Chemicals Division aims to promote green and low-carbon development through innovation and technology, focusing on high-quality growth with intelligent solutions[39] Corporate Governance - The Company has complied with the Corporate Governance Code throughout the year ended December 31, 2022[130] - The Board recognizes the importance of corporate governance practices for the benefit of stakeholders and shareholders[165] - The Board plans to hold meetings quarterly, with a minimum of four meetings in the coming year[174] - The Company has adopted internal guidelines for matters requiring Board approval[172] Risk Management - The Group faces significant risks including product defects, which could lead to substantial liability claims affecting operations and reputation[56] - The Group's financial condition and business prospects may be adversely affected if it fails to compete effectively in its industry[63] - The Group's operations are subject to various uncertainties that could materially impact its business performance and outlook[61] Shareholder Relations - The Group expressed gratitude to shareholders, clients, banks, management, and employees for their support during the period[43] - The Board will review the dividend policy periodically, considering financial results, distributable reserves, and future development plans[76] - The total amount of retained profits and share premium of the company as of December 31, 2022, was HK6,686,612,000, down from HK7,151,279,000in2021[105]HumanResources−TheGroupemployedapproximately35,000staffglobally,downfrom36,000thepreviousyear,emphasizingtheimportanceofhumanresourcesmanagement[25]−TheGroupcontinuestonurturetalentthroughtrainingprogramsandhasrecruitedseveralhundredpromisinggraduatesannuallyfrommainlandChina,HongKong,andTaiwan[27]FinancialInvestments−FortheyearendedDecember31,2022,theGroup′sinvestmentsinsecuritiesinstrumentstotaledHK7,151,279,000 in 2021[105] Human Resources - The Group employed approximately 35,000 staff globally, down from 36,000 the previous year, emphasizing the importance of human resources management[25] - The Group continues to nurture talent through training programs and has recruited several hundred promising graduates annually from mainland China, Hong Kong, and Taiwan[27] Financial Investments - For the year ended December 31, 2022, the Group's investments in securities instruments totaled HK7,171 million, a decrease from HK9,577millionin2021,representingapproximately79,577 million in 2021, representing approximately 7% of total assets[80] - The Group's bond portfolio had a fair value of approximately HK630 million as of December 31, 2022, with a total investment cost of approximately HK$2.36 billion[86] - The Group's investment strategy includes retaining listed bonds to generate stable and fixed interest income[86] Director and Management Information - Mr. Cheung Kwok Wing, aged 67, is the chairman and co-founder of the Group, with over 13 years of experience in electronic components sales prior to establishing the Group[43] - The Group's management team includes experienced professionals with significant industry backgrounds[43] - The Company has arranged appropriate insurance covering liabilities for directors and senior management arising from Group activities[159]