Financial Performance - Gold Peak Industries reported a revenue increase of 15% year-over-year, reaching HKD 1.2 billion for the fiscal year 2020-2021[12]. - The company achieved a net profit of HKD 200 million, representing a 10% increase compared to the previous year[12]. - The Group's revenue for the financial year 2020-2021 amounted to HK$6.7 billion, an increase from HK$6.1 billion in the previous year, representing a growth of approximately 10.8%[26]. - Profit for the year attributable to owners of the Company was HK$121.9 million, significantly up from HK$20.9 million in 2020, marking a growth of 482.3%[26]. - Earnings per share increased to 15.5 Hong Kong cents from 2.7 Hong Kong cents, reflecting a substantial improvement in profitability[26]. - The Group reported a revenue growth of 10.8% for FY2021 despite challenges from COVID-19, reaching S$1,182.1 million[86]. - Consolidated revenue for FY2021 increased by 10.8% to HK$6,706 million, with profit attributable to owners rising by 483.0% to HK$121.9 million[56][60]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share over the next two years[12]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[41]. - The Group's strategy of diversifying production capacities across China and Southeast Asia provided a competitive edge during critical periods[90]. - The Group plans to dispose of its automotive wire harness operation to focus on core businesses and enhance cash flow[67]. Product Development and Innovation - New product launches are expected to contribute an additional HKD 300 million in revenue, with a focus on eco-friendly technologies[12]. - Research and development expenses increased by 30%, reflecting the company's commitment to innovation and new technology[12]. - The Group's battery factories achieved approximately 95% waste conversion rate, and initiatives for green energy and no-plastic packaging are underway[74][79]. - KEF's revenue grew by 26.2% due to strong market reception of new wireless music systems, despite a significant decline in demand for professional audio products[53][59]. Operational Efficiency - The company reported a significant improvement in operational efficiency, reducing costs by 8% through strategic initiatives[12]. - The inventory turnover period was 2.9 months, compared to 2.5 months in the previous year, indicating a slight increase in inventory management efficiency[26]. - The Group employed over 7,500 staff worldwide, with a notable reduction in employees in China from 5,620 to 5,100[26]. Corporate Governance - The Company is committed to maintaining high standards of corporate governance and has complied with the Corporate Governance Code, except for deviations from A.2.1[161]. - The Board comprises five executive directors, one non-executive director, and four independent non-executive directors as of March 31, 2021[163]. - The Company provided ongoing professional training to all directors to enhance their knowledge and skills as directors of a listed company[168]. - The Board is ultimately accountable for the performance and affairs of the Company, despite delegating some responsibilities to various committees[162]. Challenges and Risks - The financial year was described as the most challenging in nearly 60 years due to COVID-19 disruptions affecting global trade and operations[49]. - Supply shortages and increased costs were highlighted as ongoing challenges that are expected to persist into the next financial year[50]. - The company faced significant disruptions in material supply, factory output, and shipping capacity due to pandemic-related lockdowns[49]. - The company anticipates that the supply and capacity issues will remain unresolved well into the new financial year[49]. Corporate Social Responsibility - The Group has established a whistle-blowing policy to allow confidential reporting of misconduct or malpractice[192]. - The Group has participated in the Community Chest's Corporate and Employee Contribution Program for decades, demonstrating its commitment to corporate social responsibility[192]. - The Group is committed to reducing energy consumption and has implemented green building concepts to minimize environmental impact[192]. Leadership Changes - Gold Peak Industries (Holdings) Limited will appoint Victor Chong as Executive Director effective July 1, 2021, who has 30 years of experience in electrical energy management[151]. - Waltery Law will also be appointed as Executive Director effective July 1, 2021, bringing over 30 years of experience in global fundraising, mergers and acquisitions, and corporate financial advisory[152]. - Grace Lo will become Deputy Managing Director and Executive Director of GP Industries Limited effective July 1, 2021, with a background in design and business management[153].
金山科技工业(00040) - 2021 - 年度财报