Financial Performance - The company's revenue for the fiscal year 2022/2023 was approximately RMB 141.54 million, representing a 2.3% increase compared to RMB 138.34 million in the previous year[5]. - The operating loss decreased by 38.4% to RMB 21.73 million from RMB 35.27 million year-on-year[5]. - The loss attributable to shareholders was RMB 22.69 million, down 36.8% from RMB 35.88 million in the previous year[5]. - Basic and diluted loss per share was RMB 2.19, a decrease of 36.7% from RMB 3.46 in the previous year[5]. - Gross profit for the year was approximately RMB 34,994,000, up from RMB 32,441,000 in the previous year, attributed to increased sales and improved production efficiency[20]. - The operating loss for the year was approximately RMB 21,734,000, a decrease from RMB 35,273,000 in the previous year, influenced by trade receivables impairment losses and inventory write-downs[20]. - The loss attributable to shareholders for the year was approximately RMB 22,692,000, compared to RMB 35,884,000 in the previous year, reflecting the factors mentioned above[24]. - As of June 30, 2023, the group had cash and cash equivalents of approximately RMB 1,444,580,000, compared to RMB 1,433,668,000 as of June 30, 2022[26]. - Total equity attributable to shareholders decreased by approximately RMB 19,405,000 to about RMB 1,720,592,000 as of June 30, 2023[28]. - The company reported a loss of approximately RMB 22,692,000 for the year, compared to a loss of approximately RMB 35,884,000 in the previous year[162]. Revenue Segmentation - Sales from the automation instruments and technology products segment amounted to RMB 140.95 million, accounting for 99.6% of total revenue, with a reported segment loss of RMB 13.24 million[13]. - The watch and instrument segment generated sales of RMB 591,000, representing 0.4% of total revenue, with a reported segment loss reduced to RMB 5.47 million[14]. - The group's revenue for the year was approximately RMB 141,536,000, an increase of about 2.3% compared to RMB 138,344,000 in the previous year, primarily due to increased sales of automation instruments and technology products[19]. Corporate Governance - The board consists of four executive directors and three independent non-executive directors, ensuring a balanced composition with rich knowledge and experience relevant to the company's business[57]. - The company has maintained compliance with the majority of the corporate governance code as stipulated in the Listing Rules, emphasizing accountability, transparency, and fairness[54]. - The board of directors held four meetings during the fiscal year ending June 30, 2023, with a 100% attendance rate from all members[61]. - The company conducted a review of its corporate governance practices, including compliance with applicable laws and regulations, as of June 30, 2023[60]. - All directors participated in appropriate continuous professional development activities during the fiscal year, including training on regulatory updates related to the company's business[68]. - The company has three independent non-executive directors, exceeding one-third of the board, ensuring compliance with listing rules[65]. - The chairman and CEO roles are held by the same individual, which the board believes enhances efficiency in executing long-term business strategies[70]. - The company has established clear guidelines for the delegation of authority to senior management, ensuring regular reporting to the board[60]. - The company aims to promote equal opportunities among all directors and has adopted a diversity policy to enhance board performance through various measurable factors, including gender, age, cultural background, and professional experience[76]. - The board is required to rotate all directors, including executive and independent non-executive directors, at least once every three years[73]. Risk Management and Compliance - The company maintains a robust risk management and internal control system, which was reviewed annually, ensuring effectiveness in meeting overall business needs[93]. - The company has not identified any significant deficiencies in internal controls during the year, affirming the effectiveness of its risk management system[93]. - The board is committed to maintaining adequate internal controls and has established a process for addressing any identified deficiencies promptly[92]. - The company has complied with all relevant laws and regulations regarding bribery, extortion, fraud, and money laundering during the year, with no legal cases involving corruption activities[152]. Environmental and Social Responsibility - The company is a market leader in the high-precision industrial automation instruments and technology products sector in China, operating under the "Shangrun" brand[102]. - The board of directors is committed to excellent environmental, social, and governance (ESG) performance and holds at least one meeting annually to assess ESG risks and strategies[102]. - The company has received ISO certifications for quality management, environmental management, and occupational health and safety, valid until January 2025[104]. - The company has established a waste management system to minimize harmful emissions and has set a goal to maintain a harmless discharge environment[107]. - Independent environmental monitoring institutions have confirmed that the company's emissions comply with national standards, with no harmful waste generated[107]. - The company aims to continue strict adherence to relevant environmental laws and regulations, including the Environmental Protection Law of China[107]. Employee Management and Training - The group employed a total of 473 staff as of June 30, 2023, with employee costs amounting to approximately RMB 37,712,000, slightly down from RMB 38,276,000 in the previous year[36]. - Total number of employees as of June 30, 2023, is 473, with 307 males and 166 females[125]. - Employee turnover rate for 2023 is 18.5%, with a breakdown of 12.8% for males and 5.7% for females[128]. - The company has implemented a comprehensive training program for employees, including safety training and professional skills enhancement[135]. - The training data indicates a strong focus on gender diversity, with efforts to balance participation across different employee levels and genders[136]. Shareholder Relations - The company maintains an active shareholder communication policy to strengthen relationships with investors and enhance communication with shareholders[99]. - The company encourages shareholders to attend the annual general meeting for constructive communication with the board[99]. - The company has established a framework for shareholders to request special general meetings if they hold at least 10% of the paid-up capital[96]. Audit and Financial Reporting - The audit committee reviewed the final audit report for the year ending June 30, 2023, and the initial draft of the consolidated financial statements, along with recommendations for board approval[84]. - The financial statements for the year ended June 30, 2023, were audited and deemed to reflect the true and fair view of the group's financial position[195]. - The total remuneration paid to the external auditor for the year ended June 30, 2023, amounted to RMB 1,951,000, including RMB 1,924,000 for audit services and RMB 27,000 for non-audit services[94]. Supply Chain Management - The company maintained strong relationships with over 100 independent suppliers located in China, ensuring a stable supply of raw materials and components[141]. - The company has not faced any significant difficulties in obtaining sufficient supplies for production, indicating a robust supply chain[141]. Product Quality and Safety - The company has complied with all relevant health and safety regulations, including the Consumer Rights Protection Law in China, ensuring product reliability and quality[143]. - No products sold or shipped were recalled for safety and health reasons during the fiscal year ending June 30, 2023[146]. - The company has not received any complaints regarding product quality during the year[148].
中国高精密(00591) - 2023 - 年度财报