ESG Governance and Management - The company has established a robust environmental, social, and governance (ESG) governance framework to ensure sustainable development[1]. - The board of directors is fully responsible for overseeing the company's ESG matters and has prioritized management strategies and objectives related to ESG[1]. - An ESG committee and working group have been formed to assist in the supervision and management of ESG initiatives[4]. - The company actively manages ESG issues and promotes sustainable development in daily operations[7]. - Regular reviews of ESG progress and performance are conducted to ensure effective risk management and internal control systems[1]. - The importance assessment process has been conducted to identify significant ESG issues relevant to the organization and its stakeholders[13]. - The company aims to continuously monitor, review, and improve its ESG matters to align with stakeholder efforts[8]. - The company identified 5 high-importance environmental, social, and governance (ESG) issues during the reporting year[22]. - Stakeholder engagement included an online survey assessing the relevance of 17 key ESG issues to the company's operations[17]. - The importance assessment results guide the development of the ESG reporting framework and provide valuable insights for strategic decision-making[17]. - The company is committed to continuous improvement in its ESG management practices through collaboration with stakeholders[24]. Compliance and Risk Management - The company emphasizes compliance management as crucial for smooth daily operations and adheres to the latest ESG-related policies and regulations[26]. - The company is focused on compliance with regulations and preventing any improper practices in its operations[8]. - The company emphasizes compliance with significant laws and regulations affecting its operations, including environmental and social aspects[53]. - The company ensures full compliance with relevant laws and regulations in its operations[53]. - The company has established strict internal control procedures to maintain effective risk management and compliance, encouraging employees to report any potential non-compliance issues[67]. - Regular audits, on-site assessments, and performance evaluations are conducted to maintain effective compliance measures[59]. - The company has implemented a regulatory compliance and licensing management system to ensure adherence to all relevant laws and regulatory standards[57]. - The company has a zero-tolerance policy towards corruption, including bribery and kickbacks[98]. Financial Performance - Revenue for the year ended December 31, 2023, was HKD 192,402 thousand, an increase of 26.4% from HKD 152,215 thousand in 2022[130]. - Gross profit for 2023 was HKD 52,788 thousand, up 40.3% from HKD 37,590 thousand in 2022[130]. - Operating profit increased to HKD 27,137 thousand, representing a 37.0% rise from HKD 19,770 thousand in the previous year[130]. - Profit before tax was HKD 24,366 thousand, a 39.9% increase compared to HKD 17,412 thousand in 2022[130]. - Net profit from continuing operations for 2023 was HKD 18,631 thousand, compared to HKD 12,770 thousand in 2022, marking a 46.5% increase[130]. - Basic and diluted earnings per share from continuing operations were HKD 3.21, up from HKD 2.08 in 2022[130]. - Total comprehensive income for the year was HKD 18,643 thousand, a significant recovery from a loss of HKD 79,785 thousand in 2022[133]. - The company reported a loss from discontinued operations of HKD 92,553 thousand in 2022, which was not present in 2023[130]. - Other income decreased to HKD 3 thousand from HKD 970 thousand in the previous year, indicating a decline of 99.7%[130]. - Administrative expenses rose to HKD 24,267 thousand, an increase of 37.0% from HKD 17,702 thousand in 2022[130]. Employee Welfare and Management - The company has established a framework for managing employee welfare and occupational health and safety[50]. - The company emphasizes a "people-oriented" principle to create a supportive workplace, aiming to retain talent for long-term success[155]. - The company has implemented strict measures to ensure employees are free from forced labor and has not reported any serious violations of child labor or forced labor regulations during the reporting year[171]. - The standard workweek is five and a half days, with overtime compensated according to local laws and regulations[172]. - The company promotes employee social life and well-being through team-building activities and designated relaxation areas[173]. - Future plans include continuing to view talent as a vital asset and supporting the well-being and happiness of existing employees[174]. - The company has a total of 66 employees, with 71% being male and 29% female[156]. - Among the employees, 62% are full-time, while 18% are in middle management and 15% in senior management[164]. - Employee turnover rate is 42.42%, with 28 total employees leaving[177]. - Turnover rate for males is 40.43% and for females is 47.37%[177]. - In China, the turnover rate is 111.11%, indicating a significant loss of employees[177]. - 20 employees participated in training programs, with 38.30% being male and 10.53% female[179]. - Average training hours per employee is 1 hour across all categories[179]. - The company has zero work-related fatalities and reported 4 work injuries during the year[179]. Environmental Initiatives - The company aims to integrate environmental protection measures into its operations and business strategies[182]. - The company launched the "SUNEWTRAL" brand in major markets, focusing on clean energy solutions[184]. - The company is committed to reducing its carbon footprint and managing environmental risks effectively[183]. - The company has eliminated emissions related to vehicle fuel usage since it no longer owns any vehicles following the liquidation of a subsidiary in 2022[57]. - The main source of greenhouse gas emissions comes from electricity consumption in office operations, with additional indirect emissions from waste disposal and business travel[186]. - The company promotes energy efficiency by reminding employees to turn off lights, air conditioning, and electronic devices after work[187]. - Initiatives for a paperless environment include uploading documents digitally and reusing printed paper to reduce physical copies[189]. - The company encourages the use of reusable containers for lunch and provides facilities for cleaning them, aiming to reduce waste[198]. - The company has no significant hazardous waste generation due to the nature of its business and will continue to monitor and manage any hazardous waste responsibly[191]. - The company is committed to reducing waste and fostering an environmentally friendly atmosphere through various measures[200]. Supply Chain Management - The company maintains partnerships with 41 suppliers and subcontractors, with over 70% located in Hong Kong[123]. - The company has implemented a comprehensive supply chain management system covering the entire process from supplier selection to performance evaluation[113]. - The company prioritizes environmentally responsible procurement, favoring suppliers with green certifications when acquiring fixed assets[119]. - The company has established a clear procedure for supplier selection, ensuring thorough assessments of reliability and reputation before any initial cooperation[114]. - The company is developing a vertically integrated supply chain management system to enhance competitiveness and meet diverse customer needs[114]. - The company adheres to high ethical standards in all business transactions, strictly prohibiting any form of bribery or illegal benefit exchange[112]. - The company regularly updates its approved subcontractor and supplier list, ensuring compliance with strict standards[118]. - The company actively encourages suppliers and subcontractors to uphold corporate social responsibility across various operational areas[119]. - The company aims to ensure that its supply chain control policies support sustainable growth and deliver exceptional value to stakeholders[112]. Corporate Governance and Ethics - The company has established a clear policy against receiving gifts or benefits beyond normal business hospitality[75]. - The board of directors achieved 100% participation in anti-corruption training during the reporting year, enhancing employee awareness of anti-corruption policies[75]. - There were no significant violations or legal cases related to corruption involving the company or its employees during the reporting year[74]. - The company emphasizes compliance with sales laws and regulations, ensuring responsible and technologically advanced services throughout the warranty period[71]. - The company has strict confidentiality arrangements with third-party agencies to protect customer and company-related information[70]. - The company is committed to providing appropriate training for employees to enhance the quality of work and services[63]. - The company has established policies and procedures to protect its intellectual property and ensure the originality of trademarks[65]. - The internal quality manual outlines commitments to deliver safe and reliable products and services that meet international quality standards and legal requirements[63]. - The company has not reported any significant violations of product liability laws during the reporting year, indicating strong compliance and operational integrity[63]. - The quality management system is subject to annual management reviews to ensure its ongoing applicability and effectiveness, aligning with the company's strategic direction[61].
益美国际控股(01870) - 2023 - 年度财报