Financial Performance - The total revenue for 2020 was HKD 860.8 million, showing a slight decrease from HKD 782.1 million in 2019[30]. - The gross profit margin for 2020 was approximately 34%, compared to 29% in 2019, indicating improved profitability[22]. - The net profit attributable to shareholders for 2020 was a loss of HKD 6.9 million, a decline from a profit of HKD 21.9 million in 2019[25]. - Earnings per share for 2020 were HKD 6.9 cents, down from HKD 13.5 cents in 2019[27]. - In 2020, the company's revenue was HKD 230,800,000, down 18.8% from HKD 284,200,000 in 2019[54]. - The gross profit margin decreased to 34.6% in 2020, compared to 36.8% in 2019, resulting in a gross profit of HKD 79,900,000[54]. - The operating loss reported was HKD 4,100,000, a significant decline from the operating profit of HKD 23,400,000 in the previous year[54]. - The net loss for 2020 was HKD 6,900,000, compared to a net profit of HKD 17,600,000 in 2019[54]. Customer and Market Insights - The company served over 300 customers across various sectors, including telecommunications, data processing, and medical equipment[37]. - The market share for high-reliability products increased from 7% in 2019 to 9% in 2020[32]. - The communications segment reported sales of HKD 67,500,000, a decrease of 6% from HKD 71,500,000 in 2019, contributing 29% to total revenue[45]. - The industrial application products segment saw sales of HKD 79,200,000, down from HKD 112,600,000 in 2019, contributing 34% to total revenue[47]. - The high-reliability products segment reported sales of HKD 64,500,000, down from HKD 80,400,000 in 2019, contributing 28% to total revenue[48]. Financial Position - As of December 31, 2020, the company had cash and cash equivalents of HKD 256,700,000, down from HKD 333,800,000 in 2019[55]. - The total equity as of December 31, 2020, was approximately HKD 865,600,000, slightly up from HKD 864,100,000 in 2019[55]. - The company has not arranged any bank loans or other financing arrangements as of December 31, 2020, indicating a stable financial position[56]. - The largest customer accounted for 25% of total sales, while the top five customers together represented 68% of total sales[73]. - The largest supplier accounted for 18% of total purchases, with the top five suppliers together making up 42% of total purchases[73]. Dividends and Shareholder Information - The proposed final dividend is HKD 0.01 per share, down from HKD 0.02 per share in 2019, totaling HKD 3,200,000 for the year ended December 31, 2020[75]. - The company has adopted a dividend policy that considers various factors including current and future operating conditions and financial performance[76]. - The company did not experience any changes in share capital during the year[88]. - No share options were granted during the year, and the share option plan adopted in June 2001 expired in June 2011[88]. Governance and Compliance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules, with some exceptions noted[121]. - The board consists of 4 executive directors and 3 independent non-executive directors, ensuring a balance of skills and independence[130]. - The company has arranged appropriate insurance coverage for directors and senior management[115]. - The company has adopted the standard code of conduct for securities transactions by directors, confirming compliance throughout the year[126]. - The audit committee held 3 meetings during the year, with all members attending all sessions[145]. Environmental and Sustainability Efforts - Total greenhouse gas emissions (Scope 1 and Scope 2) decreased to 2,255 tons of CO2 equivalent in 2020 from 2,529 tons in 2019, representing a reduction of approximately 10.8%[182]. - Direct emissions (Scope 1) were 38 tons of CO2 equivalent in 2020, down from 82 tons in 2019, indicating a reduction of 53.7%[182]. - Non-hazardous waste generated was 3,240 kg in 2020, a decrease from 3,504 kg in 2019, reflecting a reduction of about 7.5%[182]. - The company has implemented energy efficiency measures and waste recycling as primary methods for carbon and waste reduction[182]. - The company’s carbon emissions are primarily from electricity consumption, accounting for over 99% of total emissions[182]. Employee and Labor Practices - The total number of employees (excluding operations in the US and Vietnam) decreased from 974 in 2019 to 785 in 2020, a decline of approximately 19.4%[189]. - The percentage of employees under 30 years old decreased from 15% in 2019 to 8% in 2020[189]. - The percentage of disabled employees in the Shunde factory increased slightly from 1.5% in 2019 to 1.6% in 2020[189]. - The company reported zero work-related deaths and zero lost workdays due to injuries in both 2019 and 2020[191]. - The company adheres to local labor laws and has not encountered any incidents of non-compliance during the reporting period[187].
连达科技控股(00889) - 2020 - 年度财报