Financial Performance - For the year ended June 30, 2023, the revenue decreased to HK$534.4 million, down 18.7% from HK$657.7 million in 2022[4] - Profit for the year attributable to owners of the Company dropped to HK$77.5 million, a decrease of 33.1% compared to HK$115.8 million in the previous year[9] - Basic earnings per share decreased to HK16.14 cents, down from HK24.12 cents in 2022, reflecting a decline of 33.2%[9] - The total dividend proposed for the year is HK6.5 cents, a reduction from HK8.6 cents in the previous year, indicating a decrease of 24.4%[9] - Gross profit decreased by approximately 17.3% from approximately HK$266.9 million to approximately HK$220.8 million for the same period[25] - Net profit reduced by approximately HK$38.3 million from HK$115.8 million to approximately HK$77.5 million, with a net profit margin decrease from approximately 17.6% to approximately 14.5%[26] - Revenue from packaging printing decreased by approximately 22.8% to approximately HK$177.7 million compared to approximately HK$230.3 million in 2022[36] - Revenue from paper gift set printing reduced by approximately 18.5% to approximately HK$297.7 million from approximately HK$365.2 million in the previous year[37] - Revenue from smart package printing dropped by approximately 16.5% to approximately HK$20.3 million, attributed to conservative customer spending[39] Assets and Liabilities - Total assets as of June 30, 2023, were HK$698.8 million, a slight decrease from HK$719.2 million in 2022[4] - Total liabilities decreased to HK$209.7 million from HK$251.9 million in the previous year, showing a reduction of 16.7%[4] - Net assets increased to approximately HK$489.1 million as at 30 June 2023, up from approximately HK$467.4 million as at 30 June 2022, primarily due to profits generated from operations[66] - Cash and bank balances amounted to approximately HK$305.9 million as at 30 June 2023, compared to approximately HK$237.4 million as at 30 June 2022, reflecting a significant increase in liquidity[68] - The current ratio improved to approximately 4.1 as at 30 June 2023, up from 3.1 as at 30 June 2022, indicating stronger short-term financial health[68] Operational Strategy - The Group plans to enhance overall production efficiency and maintain competitiveness amid ongoing market challenges[10] - The Company aims to explore opportunities in the environmentally friendly packaging market for sustainable growth[14] - Resources will be allocated to improve internal operation effectiveness and to adopt advanced printing technologies and innovative materials[14] - Employee training will continue to be a priority to support the Group's future development[15] - The Group is actively seeking further business development and advanced printing technology breakthroughs to enhance operational efficiency[48] - The management believes the Group is well-equipped to deal with forthcoming challenges and maintain sustainable growth[48] Corporate Governance - The company is committed to maintaining high standards of corporate governance practices and procedures[98] - The Board of Directors consists of 7 members, including 4 Executive Directors and 3 Independent Non-executive Directors[100] - The company has complied with all applicable code provisions in the Corporate Governance Code since June 30, 2022[99] - The Nomination Committee, primarily composed of Independent Non-executive Directors, is responsible for recommending candidates for directorship[107] - The company emphasizes accountability and transparency in its corporate governance principles[98] - The Board of Directors has a full attendance record at meetings, with all Executive Directors attending 5 out of 5 meetings since June 30, 2022[117] - The Company emphasizes the importance of internal control and risk management to protect its assets and shareholders' interests[135] - The Audit Committee reviews the effectiveness of the internal control system and assists the Board in maintaining it[138] - All Directors confirmed compliance with the required standards of dealings and the code of conduct regarding securities transactions since June 30, 2022[131] - The Company has adopted the Model Code for Securities Transactions by Directors as per the Listing Rules[130] Shareholder Communication - The Company aims to ensure shareholders are provided with timely information to engage actively and exercise their rights[194] - The Company emphasizes communication with shareholders through a Shareholders Communication Policy[194] - Shareholders were provided with at least 21 days' notice prior to the AGM[198] - Voting at the AGM was conducted by poll, with detailed procedures explained to ensure shareholder familiarity[198] - The results of the voting were published on the same day of the AGM on the company's and the stock exchange's websites[198] Audit and Financial Reporting - For the year ended June 30, 2023, the auditors received approximately HK$1,338,000 for audit services, an increase of 3.1% from HK$1,298,000 in 2022[147] - Non-audit services provided to the Group amounted to approximately HK$61,000, a slight decrease from HK$62,000 in 2022[147] - The Audit Committee reviewed the financial statements for the year ended June 30, 2023, focusing on business highlights and compliance with accounting standards[192] - The Audit Committee recommended the re-appointment of external auditors for the financial year ending June 30, 2024[188] Dividend Policy - The Directors recommended a final dividend of HK4.3 cents per share, leading to a total dividend of HK6.5 cents per share for the current year, down from HK8.6 cents in 2022[79] - The Company has a Dividend Policy allowing the declaration and distribution of dividends at the Board's discretion[189]
新兴印刷(01975) - 2023 - 年度财报