Corporate Governance - The board of directors consists of seven male members and two female members, with a gender ratio of approximately 37% male to 63% female among employees[32]. - The company maintains the minimum public float as stipulated by the listing rules as of the date of the annual report[8]. - The company has adopted a board diversity policy to enhance performance quality, with the nomination committee responsible for monitoring its implementation[29]. - The company’s executive director and CEO roles are held by different individuals to ensure a balance of power and authority[18]. - The company’s board members are required to submit training details annually to maintain appropriate training records[21]. - The company’s nomination committee will continue to seek potential candidates to enhance board diversity[32]. - The company confirmed that its controlling shareholders complied with non-competition commitments during the fiscal year 2023[64]. - The company is committed to maintaining compliance with corporate governance codes and has reviewed its adherence during the fiscal year[80]. Financial Performance - The company recorded revenue of approximately HKD 2,104.0 million for the fiscal year 2023, a decrease of about 24.5% compared to HKD 2,788.0 million in fiscal year 2022[114]. - Gross profit for fiscal year 2023 was approximately HKD 420.0 million, down 18.7% from HKD 516.8 million in fiscal year 2022[114]. - Net profit attributable to equity shareholders for fiscal year 2023 was approximately HKD 48.3 million, a decrease of about 44.2% from HKD 86.6 million in fiscal year 2022[114]. - The air freight forwarding segment generated revenue of approximately HKD 840.5 million in fiscal year 2023, a decrease of about 32.6% from HKD 1,246.4 million in fiscal year 2022[116]. - The logistics and distribution segment contributed approximately 19.1% to total revenue in fiscal year 2023, up from 14.4% in fiscal year 2022[118]. - The logistics and distribution segment's revenue was approximately HKD 402.4 million in fiscal year 2023, slightly up from HKD 400.3 million in fiscal year 2022, with gross profit increasing by about 17.1%[119]. - The sea freight forwarding segment's revenue was approximately HKD 474.7 million in fiscal year 2023, a decrease of about 44.6% from HKD 857.6 million in fiscal year 2022[120]. - The group's operating cash inflow for FY2023 was approximately HKD 100.0 million, down from HKD 162.9 million in FY2022, a decrease of about 38.5%[96]. - As of December 31, 2023, the group's cash and cash equivalents were approximately HKD 260.3 million, a decrease of about 12.7% from HKD 298.2 million as of December 31, 2022[96]. - The group's current ratio as of December 31, 2023, was 1.00, consistent with FY2022[95]. - The group's capital debt ratio as of December 31, 2023, was approximately 18.1%, compared to a negative 13.2% as of December 31, 2022[96]. - The audit fee for the fiscal year 2023 was HKD 4,295,000, with total fees paid to the auditor amounting to HKD 5,188,000[68]. Risk Management and Compliance - The independent non-executive directors have confirmed that the continuing connected transactions are conducted in the ordinary course of business and on normal commercial terms[2]. - The audit committee confirmed the effectiveness of the financial reporting system, internal controls, and risk management systems[41]. - The company established an internal audit function to review accounting practices and significant controls, providing results and improvement suggestions to the audit committee[42]. - The risk and compliance committee monitored sanction risks and the implementation of related internal control procedures[62]. - The company has adopted an anti-corruption policy to promote compliance with anti-corruption laws and regulations[43]. - The company has a service contract with its executive directors, with terms including automatic renewal and a notice period for termination[20]. - The company has implemented strict control policies and has not engaged in speculative trading of debt securities or financial derivatives[168]. Environmental and Sustainability Initiatives - The company has signed the Low Carbon Charter and is committed to achieving carbon neutrality by 2050[136]. - The company has implemented an ISO 14001 certified environmental management system to regularly review environmental goals and monitor key performance indicators[137]. - The company has expanded its electric vehicle fleet and is committed to developing green logistics to achieve net-zero emissions[134]. - The total weight of materials recycled through the green logistics solutions reached 113,756.20 kg in the fiscal year 2023[133]. - The total water consumption for the fiscal year 2023 was 10,163.97 cubic meters, with established water-saving goals[138]. - The total consumption of energy in fiscal year 2023 was 5,231.39 MWh, a decrease from 5,321.68 MWh in the previous year[143]. - The company aims to reduce water consumption by 20% from 2020 levels by 2030[162]. - The company plans to reduce energy consumption by 30% from 2020 levels by 2030, focusing on office and warehouse electricity usage and vehicle engine operations[186]. - The company has introduced sustainable packaging materials in its China office since May 2023, including the cessation of plastic safety labels[163]. - The company encourages recycling and waste reduction among employees, adhering to the "4R" principles: Reduce, Reuse, Recycle, and Recreate[198]. - The company has identified six United Nations Sustainable Development Goals relevant to its business operations[150]. - The company received recognition as a Hong Kong Green Organization by the Environmental Campaign Committee for its contributions to environmental protection[158]. - The company has launched three new electric vehicles to promote sustainable logistics and reduce environmental impact[152]. - The company has implemented sustainable packaging materials in its China office since May 2023, including the cessation of plastic safety labels[163]. - The company’s greenhouse gas emissions standards have been certified by the United Nations Framework Convention on Climate Change and EcoVadis, scoring above or equal to 42% of all companies evaluated in the 2023 fiscal year[165]. - Total greenhouse gas emissions for the fiscal year 2023 amounted to 2,400.21 tons of CO2 equivalent, a decrease from 2,542.09 tons in 2022, representing a reduction of approximately 5.57%[172]. - Direct greenhouse gas emissions (Scope 1) decreased to 36.48 tons in 2023 from 49.39 tons in 2022, a reduction of about 26%[172]. - The group reduced its carbon footprint by approximately 4,951.43 tons of CO2 equivalent through the use of electric vans and trucks in the fiscal year 2023[173]. - The group has installed electric vehicle charging stations in Italy, completed in October 2023, to promote the adoption of electric vehicles[173]. - The group has 12 participating brands in its green logistics initiative, primarily from the high-end fashion industry, promoting circular economy and carbon neutrality[178]. - The company achieved a reduction in greenhouse gas emissions, with nitrogen oxides (NOx), sulfur oxides (SOx), and particulate matter (PM) emissions recorded at 6.45 kg, 0.11 kg, and 0.40 kg respectively for FY2023[196]. - The company’s total non-hazardous waste generated in FY2023 was 244.99 tons, down from 273.01 tons in FY2022[197]. - In FY2023, the company reported a decrease in harmful waste, with total hazardous waste at 0.61 tons compared to 0.35 tons in FY2022[197]. - The company continues to review policies related to climate change and aims to reduce its carbon footprint with annual reduction targets[141]. - The company is committed to reducing waste and has plans to collaborate with local communities to support food waste and non-hazardous waste recycling initiatives[175]. Employee and Social Responsibility - The company employed 821 staff as of December 31, 2023, compared to 678 staff as of December 31, 2022, with employee costs amounting to approximately HKD 328,592,000 in fiscal year 2023[109]. - The total number of employees as of December 31, 2023, was 541, with a gender distribution of 199 males and 342 females[182]. - The company has established anti-bribery and anti-corruption policies and training for all employees[149]. - The company actively engages with stakeholders to improve its environmental, social, and governance performance[148]. - The company is actively exploring broader partnerships in the e-commerce logistics sector, particularly in China and Europe, following successful trials with a well-known Chinese e-commerce platform[108].
嘉泓物流(02130) - 2023 - 年度财报