Financial Performance - The company recorded revenue of approximately HKD 773.65 million for the year ended June 30, 2023, compared to HKD 1,007.19 million for the eighteen-month period ended June 30, 2022, representing a decline of about 23.2%[6] - Gross profit for the year was approximately HKD 50.41 million, with a gross margin of 6.52%, down from HKD 90.19 million and a gross margin of 8.95% in the previous period, indicating a decrease in profitability due to rising raw material costs[6] - The company reported a loss attributable to shareholders of approximately HKD 15.43 million for the year, compared to a loss of HKD 21.55 million in the previous period, reflecting an improvement despite the decline in gross profit[7] - The segment for modified starch and other biochemical products generated total revenue of approximately HKD 773.65 million, down from HKD 1,007.19 million in the previous period, with a segment profit of approximately HKD 18.07 million compared to HKD 49.28 million previously[8] Expenses and Liabilities - Administrative expenses decreased to approximately HKD 21.08 million from HKD 39.32 million in the previous period, primarily due to reduced employee costs as a result of stringent cost control measures[7] - As of June 30, 2023, the company's net current liabilities were approximately HKD 29.66 million, an increase from HKD 25.49 million a year earlier, with cash and cash equivalents of approximately HKD 6.31 million[10] - Total debt as of June 30, 2023, was approximately HKD 134.33 million, down from HKD 151.28 million, including borrowings of approximately HKD 59.29 million[11] - The company's asset-to-liability ratio (after deducting cash and cash equivalents) was approximately 53.0%, improved from 57.5% a year earlier[11] Corporate Governance - The board of directors has resolved not to recommend the payment of a final dividend for the year ended June 30, 2023, consistent with the previous year[15] - The company received annual independence confirmation from all independent non-executive directors, confirming their independence[35] - The company has adopted the corporate governance code as per the listing rules, ensuring compliance with relevant guidelines[88] - The board is responsible for overseeing the company's business management and approving development strategies and annual budgets[91] Shareholder Information - As of June 30, 2023, Lin Qing Qu holds 268,072,400 shares, representing approximately 156.33% of the issued share capital[47] - The company will issue 268,000,000 shares upon full exercise of the zero-coupon convertible bonds held by Lin Qing Qu[49] - Major shareholders, apart from the disclosed directors' interests, have notified the company of their relevant interests in the issued share capital as of June 30, 2023[51] - The company has not declared any distributable reserves for shareholders as of June 30, 2023, remaining unchanged from the previous year[31] Environmental, Social, and Governance (ESG) Initiatives - The group aims to integrate environmental, social, and governance (ESG) considerations into daily operations as a key component of corporate strategy[138] - The company emphasizes environmental protection and sustainable development in its operations[78] - The company has established clear guidelines for controlling emissions and waste disposal at its Shandong factory, with ongoing inspections by the environmental department and government agencies[153] - The company has implemented various environmental protection measures, including the installation of water meters, LED lights, and solar systems to reduce consumption[154] Employee Information - The total number of employees as of June 30, 2023, is 128, a decrease of 18% compared to the previous year[190] - Employee turnover rate for the group is 21%, a decrease of 3 percentage points from 24%[190] - The group provides medical benefits and health insurance to all full-time employees, ensuring a safe and healthy work environment[193] - Employee training is emphasized as a key component of human resource development to enhance skills and improve work quality[199] Risk Management - The company emphasizes the importance of internal control systems and risk management functions[92] - The board conducts annual corporate risk assessments to identify current and potential risks, including ESG factors[139] - The company has not established an internal audit department, opting for external independent professionals to review risk management and internal control systems[126] - The group is closely monitoring potential physical and transition risks related to climate change, including acute and chronic risks[186][187]
玮俊生物科技(00660) - 2023 - 年度财报