Financial Performance - The company recorded revenue of RMB 82 million for the fiscal year, a decrease of approximately 61% from RMB 213 million in the previous fiscal year[13] - The company achieved a gross profit of RMB 28 million, with a gross margin of 34%, reversing from a gross loss of RMB 48 million in the previous year[13] - Operating loss for the fiscal year was RMB 53 million, compared to RMB 743 million in the previous year[14] - The company reported a net loss attributable to shareholders of RMB 54 million, down from RMB 719 million in the previous year[14] - As of June 30, 2019, the group held cash and bank balances of RMB 133 million, a decrease from RMB 156 million in 2018[21] - The total equity of the group as of June 30, 2019, was RMB 269 million, down from RMB 318 million in 2018[21] - The current ratio as of June 30, 2019, was 4 times, compared to 5 times in 2018[21] - The company reported a reserve available for distribution to shareholders of RMB 652,703,000 as of June 30, 2019, down from RMB 664,026,000 in 2018, representing a decrease of approximately 1.9%[189] - The company did not recommend the distribution of dividends for the fiscal year ending June 30, 2019, consistent with the previous year[188] Corporate Governance - The board of directors consists of a balanced mix of executive and non-executive members, including independent non-executive directors, ensuring effective independent judgment[35] - During the fiscal year ending June 30, 2019, the board held five meetings, with all directors attending at least 100% of the meetings[41] - The remuneration committee, composed entirely of independent non-executive directors, held one meeting during the fiscal year and reviewed the group's adopted remuneration policy[46][47] - The company has established three committees: the audit committee, remuneration committee, and nomination committee, each managing specific areas of the company's affairs[38] - The chairman and CEO roles are currently held by the same individual, Mr. Guo, who possesses extensive agricultural knowledge and expertise[44] - All independent non-executive directors confirmed their independence in accordance with listing rules, ensuring they can effectively fulfill their responsibilities[37] - The company is committed to maintaining a high level of corporate governance and internal control systems[39] - The board is responsible for considering matters such as long-term goals and corporate strategies, as well as financial reporting and monitoring[39] - The company has a policy for continuous professional development for directors, ensuring they stay updated on regulatory requirements and industry trends[43] - The remuneration committee is tasked with proposing remuneration policies for executive directors and senior management, ensuring transparency and appropriateness[46] - The board of directors consists of eight members, all male, with a diversity review conducted once during the fiscal year ending June 30, 2019[50] - The Nomination Committee held one meeting to review the board's structure, composition, and diversity during the fiscal year[50] - The Audit Committee convened six times to review the audited financial statements for the fiscal year ending June 30, 2019[54] - The external auditor's fees for audit services amounted to HKD 1,200,000, while non-audit services (interim review) totaled HKD 350,000[59] - The company confirmed its responsibility for preparing consolidated financial statements that fairly reflect the group's financial position and performance[60] - The board is responsible for overseeing the risk management and internal control systems, with annual reviews conducted by the Audit Committee[63] - A formal risk assessment system has been established, with potential operational risks identified annually by senior management[64] - The internal audit department, led by the internal audit manager, reports directly to the Audit Committee and is responsible for reviewing the group's major business operations[65] - The company engaged an external consultant to review its risk management and internal control systems, with findings communicated to the Audit Committee[65] - The board has implemented measures to ensure assets are protected from misuse and that financial records comply with relevant accounting standards[65] - The board believes that the group's risk management and internal control systems are adequate and effective as of June 30, 2019[66] Environmental, Social, and Governance (ESG) - The company has established an environmental, social, and governance (ESG) working group to assess and report on ESG risks and performance[81] - The ESG report is prepared in accordance with the guidelines set by the Hong Kong Stock Exchange[82] - The report details the company's ESG activities, challenges, and measures taken during the fiscal year ending June 30, 2019[84] - The company emphasizes stakeholder engagement, maintaining communication with shareholders, customers, suppliers, employees, government, and NGOs[87] - The company has established effective management policies and monitoring systems for environmental, social, and governance (ESG) matters[92] - Total emissions of sulfur oxides (SOX) were 0.82 kg, nitrogen oxides (NOX) were 309.87 kg, and particulate matter (PM) were 29.61 kg during the reporting period[97] - The company actively implements energy-saving measures to reduce greenhouse gas emissions from transportation and electricity consumption[97] - The company has not reported any significant violations of local environmental laws regarding air and greenhouse gas emissions during the reporting period[95] - The company is committed to improving its ESG performance and creating greater value for the broader community[88] - The company regularly tracks the latest environmental protection laws and regulations to enhance its environmental protection measures[94] - The company aims to expand its disclosure scope as its data collection systems mature and sustainable development efforts deepen[85] - Total greenhouse gas emissions for the reporting period amounted to 680.26 tons of CO2 equivalent, with direct emissions (Scope 1) at 200.42 tons and indirect emissions (Scope 2) at 479.84 tons[100] - The density of greenhouse gas emissions was recorded at 0.09 tons of CO2 equivalent per square meter and 3.58 tons per employee[100] - The total amount of non-hazardous waste generated was 596.10 tons, including 1.10 tons of paper and 595.00 tons of general waste[105] - The company implemented measures to reduce paper usage, achieving a paper recycling amount of approximately 0.06 tons during the reporting period[104] - The company has established guidelines for the management and disposal of hazardous waste, although no hazardous waste was generated during the reporting period[101] - Energy-saving measures include the use of energy-efficient equipment and strict regulations on the use of high-power appliances in the office[109] - The company promotes a green office environment through the principles of reduction, reuse, recycling, and replacement[107] - The total area of the company's three office locations and business centers is 7,624 square meters, with a total of 190 full-time employees[103] - The company actively monitors resource usage and has policies in place for managing water, electricity, diesel, and gasoline consumption[107] - The company encourages employees to adopt energy-saving practices, such as turning off equipment when not in use and using energy-efficient lighting[108] Employee Relations and Social Responsibility - The group has a 100% labor contract signing rate with employees in mainland China, ensuring compliance with labor laws and regulations[122] - The group provides social insurance benefits, including pension, medical, unemployment, work injury, maternity insurance, and housing fund contributions for employees[122] - The group maintains a fair and competitive compensation system, regularly assessing and adjusting employee salaries based on macroeconomic factors and overall group performance[120] - The group emphasizes environmental sustainability and integrates environmental protection concepts into daily operations[116] - The group has implemented water-saving measures and promotes water conservation awareness among employees[113] - The group has not experienced any fatal or serious injury incidents during the reporting period, ensuring compliance with health and safety regulations[126] - Regular safety inspections and reviews are conducted to maintain employee health and safety, with a proactive approach to reporting incidents and risks[127] - The group provides annual health check-ups for employees and organizes various recreational activities to promote work-life balance[128] - Fire safety measures include regular drills and the installation of emergency equipment, with annual training sessions conducted by fire safety experts[129] - A comprehensive training system is established, including onboarding, management, and technical training to enhance employee skills and support sustainable development[130] - The group strictly prohibits the employment of child labor and forced labor, adhering to relevant labor laws and regulations[135] - The company encourages employees to participate in social welfare activities to enhance their sense of social responsibility[155] - The company has set up various reward and funding programs, such as scholarships, to support underprivileged students pursuing ecological agriculture[153] Supply Chain Management - A rigorous procurement system is in place to manage potential environmental and social risks within the supply chain[136] - Suppliers are evaluated based on product quality, price, supply capacity, and after-sales service, with annual reviews of qualified suppliers[137] - The group emphasizes the importance of maintaining competitive pricing and sufficient production capacity from suppliers[138] - The company emphasizes the importance of environmental, social, and governance (ESG) standards for suppliers, focusing on compliance, human rights, and environmental protection[139] - The procurement process adheres strictly to the "Bidding Law of the People's Republic of China," ensuring fairness and transparency without discrimination against suppliers[140] Product Quality and Customer Relations - The company maintains a comprehensive quality traceability system for agricultural products, allowing consumers to access planting and testing records via QR codes[142] - Customer complaints are managed through a standardized process, ensuring confidentiality and thorough investigation to improve service quality[144] - The company has not encountered any significant legal issues related to product and service quality during the reporting period[141] - There were no major incidents of violations regarding anti-bribery laws during the reporting period[150] - The company has established an anti-bribery function responsible for overseeing compliance and investigating any suspected bribery incidents[151] - The company prioritizes food safety as a core aspect of its operations, implementing rigorous safety testing in its provincial laboratories[142] - The company has a strong commitment to protecting customer privacy and adheres to strict data protection policies[145] - The company conducts limited advertising activities, thus minimizing associated advertising risks[147] Community Engagement and Charitable Activities - The company established the "Super Large Love Foundation" in February 2007 to enhance its management of charitable activities and regulate donation behaviors[154] - The company donated RMB 50,000 to the Fuzhou Gulou District Charity Association during the reporting period[154] - The company plans to increase support for charitable activities through donations and organizing public welfare events in the future[154] - The company engages with the community to understand local needs and ensure business activities consider community interests[160] Strategic Direction and Business Development - The company is committed to advancing its business restructuring and adjustment to seek new growth drivers for future profitability[10] - The company has focused on resource integration and technological innovation to address operational challenges and lay a foundation for future upgrades[8] - The company is focused on new business development and project management to drive future growth[163] - The group emphasizes sustainable development and has established a green ecological industrial chain named "Super Large Model," promoting the motto "Walk the green road, create ecological civilization"[182] - Major risks include natural disasters and adverse weather conditions, which pose significant threats to the group's agricultural and livestock operations[180] - Financial risk factors are detailed in the consolidated financial statements, specifically in note 34[181] - The group is committed to integrating modern ecological concepts and traditional agricultural techniques in its operations[182] - The group's core values focus on sustainable development and harmonious win-win outcomes in its business practices[182] - The group operates as an investment holding company, with its main subsidiaries engaged in various agricultural activities[176] - The group's annual report includes comprehensive financial statements and performance analysis, reflecting its operational effectiveness and strategic direction[177] Stock Options and Director Benefits - The company has a structured approach to stock options for directors, with various options granted at different exercise prices and terms[198] - The company has granted stock options to directors and key executives, with a total of 1,000,000 options available at an exercise price of HKD 0.187 each, valid until July 12, 2026[199] - No arrangements were made during the fiscal year for the benefit of directors or their immediate family members through the acquisition of shares or debt securities of the company or any other corporation[200]
超大现代(00682) - 2019 - 年度财报