Financial Performance - The company reported a revenue of HKD 1.5 billion for the fiscal year ending March 31, 2019, down 26% from HKD 2.1 billion in 2018[45]. - The net loss attributable to shareholders was HKD 563 million, compared to a net loss of HKD 86 million in the previous year[45]. - The company reported a total revenue of HKD 1.2 billion for the fiscal year ending March 31, 2019, representing a year-on-year increase of 15%[88]. - The company has set a revenue guidance of HKD 1.5 billion for the next fiscal year, projecting a growth rate of 25%[88]. - New product development includes the launch of a next-generation laptop, expected to contribute an additional HKD 300 million in revenue[87]. Market Challenges - The decline in sales was partly due to a global shortage of processors used in laptops and tablets, impacting production[45]. - The company faced significant pressure on gross margins due to aggressive pricing strategies within the industry[45]. - The macroeconomic environment was described as one of the most challenging in decades, influenced by the US-China trade dispute[54]. - The total revenue from the RCA brand's Windows tablets significantly decreased due to global CPU shortages, impacting profitability[61]. Production and Development - The group launched 10 consumer and commercial laptops under the AVITA and Nexstgo brands, expanding its market presence in 10 major Asian cities including Hong Kong, Taiwan, and Singapore[56]. - The group plans to continue developing consumer and commercial laptops, with new products like the AVITA ADMIROR and Nexstgo PRIMUS NX301 launched at the Taipei International Computer Show[66]. - The production of laptops is expected to increase in the 2019/2020 fiscal year, leading to improved economies of scale in production efficiency and material costs[71]. - The group is investing in automation to control production costs and enhance flexibility, especially during peak production periods[61]. - The group is actively evaluating laptops equipped with 5G technology, graphics processors, and blockchain security for future product launches[66]. Corporate Governance - The board of directors held eight meetings during the fiscal year, with a 100% attendance rate from all members[94]. - The company has established a remuneration committee to review and approve the compensation policies for executives, ensuring alignment with market standards[101]. - The audit committee reviewed the financial statements for the year, confirming compliance with accounting principles and internal controls[106]. - The company has maintained compliance with the corporate governance code, with all independent directors confirming their independence[92]. - The Nomination Committee held one meeting during the year ending March 31, 2019, with a 100% attendance rate from its members[110]. Environmental Responsibility - The company reported direct greenhouse gas emissions of 120,770 kg and indirect emissions from fuel consumption of 5,359,698 kg CO2 equivalent[148]. - The total electricity consumption was 6,699,623 kWh, with water consumption at 249,094 tons and paper consumption at 3,580 kg[156]. - The company generated 2 tons of hazardous waste and 218 tons of non-hazardous waste during the reporting period[148]. - The company implemented energy-saving measures that resulted in an annual saving of 80,000 kWh by replacing old air compressors with new variable frequency models[155]. - The company has established an energy management center to monitor energy consumption in real-time, enhancing operational efficiency[155]. - The company aims to reduce carbon emissions by improving resource utilization across various business segments[152]. - The company encourages recycling and reusing waste wherever feasible, adhering strictly to internal waste management guidelines[143]. - The company has not faced any significant incidents of non-compliance with local environmental laws during the reporting period[139]. - The company uses bubble wrap instead of corrugated packaging to reduce material usage, contributing to sustainability efforts[155]. Employee Management - Total number of employees is 1,296, with 58.6% male and 41.4% female[166]. - Employee turnover rate is considered acceptable and aligns with industry standards, with no significant legal compliance issues reported[174]. - The minimum wage for employees was adjusted from RMB 1,510 to RMB 1,720 starting July 1, 2018, in compliance with local regulations[170]. - The company maintains a 100% long-term employment rate, with no temporary or part-time employees[166]. - The average service period for male and female employees is 8.3 years[166]. - The company provides health and safety training to ensure a safe working environment for employees[179]. - The factory is equipped with sufficient protective gear and equipment, including first aid supplies, helmets, gloves, goggles, fire extinguishers, ear protection, and masks[180]. - The company conducts regular safety inspections and provides annual health checks for designated workers, ensuring a low injury rate[185]. - During the reporting period, 936 employees participated in training programs, representing 72.2% of the total workforce[189]. - Male employees logged a total of 20,698 training hours, while female employees logged 15,245 hours, with an average of 38.4 hours per employee for both genders[189]. Supplier Management - The company has approximately 300 suppliers, primarily from China, Hong Kong, and Taiwan, with no significant changes in supplier locations[197]. - The company maintains long-term relationships with suppliers, emphasizing strict evaluations based on cost, quality, and delivery performance[197]. - The company has a robust supplier management program to ensure compliance with legal, social responsibility, and environmental standards[197]. - The company is committed to providing high-quality products and ensures compliance with safety and environmental standards during production[198].
ALCO HOLD-NEW(00328) - 2019 - 年度财报