Environmental Management - The company generated a total of 36.4 tons of non-hazardous waste, primarily textile materials, with nearly all waste being reused rather than disposed of[13]. - The company reported zero hazardous waste generation in 2024, demonstrating a commitment to environmental management and compliance with regulations[12]. - The company aims to actively implement material-saving plans to maintain or reduce waste generation density[21]. - The company has established environmental goals related to reducing greenhouse gas emissions and improving energy and water efficiency[20]. - The company emphasizes the importance of environmental protection and resource conservation in its operations, ensuring no significant harm to the environment[22]. - The company plans to encourage employees to recycle and properly dispose of office waste, including batteries and light tubes[15]. - The company has implemented energy-saving measures, such as using LED lighting and adjusting air conditioning temperatures to between 25°C and 26°C[21]. - The company produced an average of 0.03 tons of CO2 equivalent per production unit in September 2023, indicating stable emissions levels[8]. - The company is collecting and evaluating indirect emissions data related to its supply chain for future reporting[7]. - The company emphasizes energy-saving initiatives, such as using LED lighting and maintaining air conditioning temperatures between 25°C and 26°C to control greenhouse gas emissions[50]. - The company encourages employee participation in environmental initiatives to improve its overall environmental performance[52]. Employee Development and Welfare - The average training hours for employees increased from 3.04 hours in 2023 to 3.09 hours in 2024, indicating the company's commitment to employee development and skill enhancement[34]. - The number of employees rose from 44 in 2023 to 46 in 2024, reflecting a positive trend in workforce stability and growth[58]. - Training hours for senior management significantly increased from 1.80 hours in 2023 to 2.29 hours in 2024, demonstrating the company's focus on enhancing leadership skills[63]. - The company maintains a zero record of work-related fatalities and lost workdays due to injuries, showcasing its commitment to employee welfare and safety[59]. - All employees received training, with a 100% training rate across various employee categories, indicating a strong commitment to employee development[61]. - The company has established a comprehensive employee compensation policy based on performance, qualifications, and capabilities[130]. - The company provides extensive benefits and career development opportunities for all employees, including retirement plans and medical insurance[131]. - The group emphasizes voluntary employment principles and provides adequate compensation for overtime work, demonstrating a focus on employee welfare and work-life balance[65]. Compliance and Ethical Standards - The company has implemented measures to ensure compliance with environmental and social standards among suppliers, including prohibiting child and forced labor[39]. - The group has a strict policy against forced labor and child labor, with no incidents reported during the year, reflecting a commitment to ethical labor standards[66]. - The group has implemented comprehensive guidelines to protect customer privacy and personal data, highlighting the importance of information security[73]. - The group evaluates potential suppliers based on experience, reputation, financial stability, and ethical standards to select the most suitable partners[68]. - The company has implemented strict compliance frameworks and reporting mechanisms to foster a culture of integrity and transparency among employees[102]. - The company has provided anti-corruption training to its chairman and employees, reinforcing its commitment to ethical conduct[84]. - The company has not faced any legal disputes related to bribery, extortion, fraud, or money laundering during the reporting year, reflecting a strong adherence to ethical business practices[100]. - An internal management team has been established to oversee compliance with data protection regulations, with no complaints related to customer data breaches reported during the year[99]. Corporate Governance - The company complies with the Cayman Islands Companies Law, listing rules, and securities and futures regulations regarding financial disclosure and corporate governance[117]. - The company has received annual written confirmations regarding the independence of all independent non-executive directors[123]. - The company has adopted a code of conduct for directors regarding securities trading, ensuring compliance with the standards set forth in the listing rules[137]. - The board of directors includes three independent non-executive directors, ensuring a strong independent element within the board[150]. - The remuneration of directors is determined by the remuneration committee, considering the group's operational performance and market statistics[148]. - The company has established effective mechanisms to ensure the board receives independent opinions and advice, with three independent non-executive directors constituting over one-third of the board[159]. - The attendance record for board meetings shows full participation from executive and independent non-executive directors[158]. - The independent non-executive directors have equal status with other board members and are actively involved in decision-making processes[159]. - The company has established a nomination committee to review the board's structure and recommend suitable candidates for board membership[193]. - The company has maintained good corporate governance practices, with details provided in the corporate governance report[184]. Financial Performance - Revenue from supplying apparel products amounted to HKD 121,042,000 for the year ending April 30, 2024, down from HKD 149,362,000 in 2023, representing a decrease of approximately 19%[190]. - The company has implemented significant monitoring controls regarding revenue recognition for apparel supply contracts, ensuring compliance with HKFRS 15[190]. - The independent auditor's report confirms that the consolidated financial statements present a true and fair view of the group's financial position as of April 30, 2024[188]. - The audit and risk management committee, composed of three independent non-executive directors, reviewed the financial statements for the year and confirmed compliance with applicable accounting standards[180]. - The company has maintained operational and financial independence from its controlling shareholders since its listing date[194]. - The largest customer accounts for 48.4% of total sales, while the top five customers represent 86.6%[178]. - The largest supplier accounts for 28.3% of total purchases, and the top five suppliers account for 77.2%[178]. Community Engagement - The company is focusing on community investment to mitigate any adverse impacts of its operations on local communities, aiming to create sustainable value[104]. - Future community investment efforts will prioritize five key areas, including environmental protection initiatives such as tree planting and waste management programs[105]. - The group actively invests in community diversity and inclusion initiatives, contributing to a more equitable society[79].
桦欣控股(01657) - 2024 - 年度财报