Financial Performance - For the fiscal year ending June 30, 2021, the company reported total revenue of approximately HKD 481 million, a significant decrease from HKD 738 million for the eighteen months ending June 30, 2020[24]. - The company achieved a profit of HKD 16.6 million for the fiscal year, a notable recovery from a loss of HKD 39.2 million in the previous period[15]. - The basic earnings per share increased to HKD 7.84, compared to a loss of HKD 17.49 per share in the previous period[15]. - The group's consolidated revenue for the fiscal year ending June 30, 2021, was approximately HKD 481 million, compared to HKD 738 million for the eighteen months ending June 30, 2020[35]. - The operating profit for the fiscal year was approximately HKD 19 million, marking the first profit since the sale of the commercial brand business in 2017, a significant improvement from an operating loss of approximately HKD 35 million for the previous eighteen months[36]. - The group's net profit attributable to shareholders for the year was approximately HKD 17 million, compared to a net loss of approximately HKD 37 million for the eighteen months ending June 30, 2020[36]. - The overall gross profit margin increased from 54% to 58% due to improved sales mix and manufacturing efficiency[39]. Assets and Liabilities - Total assets as of June 30, 2021, were HKD 784.9 million, while total liabilities stood at HKD 360.1 million, resulting in total equity of HKD 424.8 million[17]. - The company reported a capital and reserves attributable to owners of HKD 424.8 million as of June 30, 2021, up from HKD 369.5 million in the previous period[15]. - As of June 30, 2021, the group's total cash and bank balances were approximately HKD 178 million, an increase from HKD 136 million on June 30, 2020, while unsecured bank borrowings decreased to HKD 16 million from HKD 31 million[53]. Strategic Initiatives - The company plans to open three additional flagship showrooms in the next eighteen months, expanding its presence to five dual-channel flagship showrooms[25]. - The company has established new showrooms in London and Paris, which are expected to significantly reduce rental costs and enhance brand visibility[25]. - The company plans to launch new websites and trial e-stores for its Tai Ping and Edward Fields brands in the fall of 2021, featuring over 2,500 iconic design profiles[50]. - The company has implemented strategic changes to reduce operating costs and improve manufacturing productivity amid challenges posed by the COVID-19 pandemic[25]. - The company continues to monitor performance and may implement further cost reduction measures as necessary due to the ongoing pandemic[37]. Workforce and Employee Welfare - The company’s workforce decreased by 9% from 740 employees in June 2020 to 674 employees in June 2021, due to business streamlining and productivity improvements[42]. - Employee benefits include accommodation, meal plans, paid leave, and medical insurance, contributing to a supportive work environment[164]. - The company has a strong commitment to employee welfare, organizing various social activities to foster a cohesive workplace culture and reduce turnover rates[164]. - The company invests in employee development through customized training and performance evaluation mechanisms[171]. - The company has established an emergency response team to assess and act on COVID-19 related situations, prioritizing the safety of employees and the community[162]. Governance and Board Structure - The board consists of ten members, including one executive director, five non-executive directors, and four independent non-executive directors[73]. - The board emphasizes diversity, including gender diversity, and has adopted a Board Diversity Policy to enhance transparency and governance[76]. - The chairman and CEO positions are held by different individuals to ensure independence and accountability[77]. - The board has established four committees: Executive Committee, Remuneration Committee, Audit Committee, and Nomination Committee[93]. - The company is committed to a merit-based approach in appointing directors, ensuring a diverse and inclusive board[76]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers the company's management policies and performance for the fiscal year 2020/2021[126]. - The ESG report period spans from July 1, 2020, to June 30, 2021, focusing on the company's core business operations[127]. - The company has established an Environmental, Health, and Safety department to manage policies and procedures related to sustainable development[134]. - The company adheres to international standards such as ISO 14001 for environmental management[134]. - The company has implemented energy-saving measures, including the use of energy-efficient LED lighting and modern glass curtain walls to reduce electricity costs[148]. Safety and Compliance - The company achieved a total of 4 work-related injuries in 2021, meeting the target of ≤ 4[169]. - There were no severe injuries resulting in loss of more than 105 days, achieving the target of 0[169]. - The company provides regular safety training to enhance safety awareness among operators[167]. - The company has established a safety committee composed of senior executives to manage health and safety systems[169]. - The company has implemented comprehensive guidelines and procedures to responsibly handle chemicals used in production, ensuring compliance with EU Directive 2002/61/EC[152]. Sustainability Efforts - The company has identified 21 sustainability issues, with 12 prioritized as important based on stakeholder feedback[140]. - The company aims to reduce greenhouse gas emissions primarily from manufacturing and transportation by situating production facilities close to local markets[148]. - The company utilizes recycled water to minimize groundwater usage and has a wastewater treatment system that allows for the reuse of treated water[151]. - The company has established a waste management program that includes a waste classification system to minimize environmental impact, with a focus on recycling and reducing waste generation[155]. - The company has complied with environmental laws and regulations, with no reported violations during the reporting period[143].
TAI PING CARPET(00146) - 2021 - 年度财报