Financial Performance - Huajin International Holdings Limited reported a revenue of HKD 1.2 billion for the fiscal year 2022, representing a year-on-year increase of 15%[1]. - The company achieved a net profit of HKD 150 million, which is a 10% increase compared to the previous year[1]. - The company's revenue for 2022 was approximately RMB 4,663.6 million, a decrease of RMB 629.4 million or 11.9% compared to RMB 5,293.0 million in 2021[15]. - The net loss attributable to the company's owners for 2022 was approximately RMB 165.3 million, compared to a profit of RMB 62.0 million in 2021[19]. - The total sales volume of processed steel and galvanized steel products in 2022 was approximately 958,126 tons, an increase of about 90,681 tons or 10.5% from 867,445 tons in 2021[19]. - The average selling price of processed steel products decreased to RMB 4,644 per ton in 2022 from RMB 5,516 per ton in 2021, while the average selling price of galvanized steel products decreased to RMB 4,524 per ton from RMB 5,888 per ton[112]. - The sales volume of galvanized steel products increased to approximately 343,386 tons in 2022, a significant increase of about 185,717 tons or 117.8% compared to 157,669 tons in 2021[111]. - The company incurred construction costs of approximately RMB 181.3 million for the acquisition of properties, plants, and equipment in 2022[108]. - The company’s financial condition and profitability will influence future dividend declarations, alongside operational and capital needs[89]. Strategic Initiatives - The company has set a revenue guidance of HKD 1.5 billion for the next fiscal year, projecting a growth of 25%[1]. - Huajin International is investing HKD 200 million in new product development, focusing on sustainable materials[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[1]. - Huajin International is exploring potential acquisitions to enhance its supply chain efficiency, with a budget of HKD 300 million allocated for this purpose[1]. - The company aims to enhance its revenue diversity and shareholder value through new business opportunities and market expansion[21]. Corporate Governance - The company emphasizes high standards of corporate governance to ensure stable and transparent operations, attracting investors and protecting shareholder interests[39]. - The board has adopted the corporate governance code as per the listing rules, ensuring compliance throughout the year ending December 31, 2022[39]. - The board consists of four executive directors and three independent non-executive directors, complying with the listing rules regarding independent director representation[47]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with specific responsibilities[65]. - The Audit Committee consists of three independent non-executive directors and has held three meetings during the year ended December 31, 2022[68]. - The company ensures that all directors participate in continuous professional development to stay informed about their responsibilities[60]. - The roles of Chairman and CEO are separated to ensure a balance of power and authority within the company[63]. - The company has arranged appropriate insurance coverage for directors and senior management against legal actions[61]. - The company has established an internal control system to ensure compliance with relevant laws and regulations, with no significant internal control weaknesses identified during the review period[101]. Risk Management - The company emphasizes the importance of effective risk management and internal control systems to mitigate exposure to significant risks, with no major changes in risk nature or scope identified during the reporting year[98]. - The board is responsible for overseeing the effectiveness of the risk management and internal control systems, which are designed to ensure operational efficiency and safeguard assets[98]. - The company has established a clear management structure for risk management, utilizing a risk assessment model to identify and manage significant risks[98]. Shareholder Relations - The company maintains open communication with shareholders, providing a platform for them to express opinions and engage with the board[93]. - Shareholders holding at least 10% of the paid-up capital have the right to request a special general meeting within two months of their request[87]. - The company intends to distribute approximately 30% of the distributable profits for the fiscal year ending December 31 as dividends, subject to shareholder approval[91]. - The company did not recommend a final dividend for the year ended December 31, 2022, but declared a special interim dividend of HKD 0.098 per share, totaling HKD 58.8 million (approximately RMB 49.02 million) in January 2021[161]. Employee and Diversity Initiatives - The company plans to appoint a female director by March 31, 2024, to enhance gender diversity on the board[75]. - As of December 31, 2022, the employee gender ratio was 79.9% male and 20.1% female, indicating a need for continued focus on gender diversity in hiring[76]. - The total employee cost for the group in 2022 was approximately RMB 116.7 million, up from RMB 110.7 million in 2021, including share-based payment expenses of approximately RMB 4.1 million[145]. - The group employed a total of 1,170 full-time employees as of December 31, 2022, compared to 1,155 employees in 2021[145]. Supplier and Customer Relations - The company has established long-term stable business relationships with major raw material suppliers, which is crucial for timely purchases at market prices[158]. - The total amount of raw materials purchased from the top five suppliers accounted for approximately 71.9% of total purchases, down from 79.1% in 2021[162]. - Revenue from the top five customers represented approximately 23.7% of total revenue, an increase from 17.0% in 2021[162]. - The group relies heavily on customer demand for its products, which are primarily sold to manufacturers in various industries, including light industry hardware and home appliances[152].
华津国际控股(02738) - 2022 - 年度财报