Financial Performance - The company's revenue for the fiscal year was RMB 649,090,000, a decrease of 41.83% from RMB 1,115,880,000 in the previous fiscal year[28]. - Gross profit fell to RMB 28,340,000 with a gross margin of 4.37%, down from RMB 149,580,000 and 13.40% respectively[28]. - The company recorded a loss attributable to owners of RMB 122,160,000, compared to a loss of RMB 8,850,000 in the previous fiscal year[28]. - Revenue from the plastic injection molding business was RMB 356,010,000, a decrease of RMB 148,550,000 or 29.44% compared to RMB 504,560,000 last year[37]. - The assembly electronic products segment reported revenue of RMB 250,500,000, down RMB 295,560,000 or 54.13% from RMB 546,060,000 last year[38]. - The company recorded other net losses of RMB 44,950,000, compared to a net gain of RMB 2,900,000 last year[41]. - Selling expenses decreased by RMB 29,580,000 or 64.43% to RMB 16,330,000 from RMB 45,910,000 last year[42]. - General and administrative expenses decreased by RMB 19,880,000 or 20.37% to RMB 77,700,000 from RMB 97,580,000 last year[43]. - Financial expenses increased by 9.33% to RMB 14,180,000 from RMB 12,970,000 last year[44]. - The company’s cash and cash equivalents were RMB 138,340,000, down from RMB 154,180,000 last year[46]. - The total equity attributable to owners as of July 31, 2019, was RMB 391,340,000, down from RMB 510,290,000 in 2018[51]. - The company reported a foreign exchange loss of RMB 530,000 for the fiscal year, compared to a gain of RMB 2,980,000 in 2018[57]. Assets and Liabilities - Total assets decreased to RMB 727,592,000 from RMB 1,011,740,000 in the previous year[14]. - Total liabilities reduced to RMB 336,254,000 from RMB 501,452,000 in the previous year[14]. - Net borrowings decreased to RMB 72,572,000 from RMB 114,780,000 in the previous year[14]. - The net interest-bearing borrowings amounted to RMB 72,570,000, a decrease from RMB 114,780,000 last year, representing 9.97% of total assets[48]. - The net current assets as of July 31, 2019, were RMB 13,090,000, a decrease from RMB 18,380,000 in 2018[49]. Capital Expenditure and Investments - Capital expenditure was RMB 25,817,000, down from RMB 101,575,000 in the previous year[14]. - The company completed the sale of Qingdao Weili Precision Plastic Co., Ltd. for a total consideration of RMB 27,000,000[30]. - The company sold its entire stake in Qingdao Weili for RMB 27,000,000 during the fiscal year[52]. - The company invested RMB 80,000,000 in renewable energy, specifically solar power, generating over 7,688,138 kWh of electricity during the reporting period, with 5,938,418 kWh consumed in production[71]. Environmental and Social Responsibility - The total greenhouse gas emissions decreased from 28,421 tons CO2 equivalent in the previous year to 23,176 tons CO2 equivalent[76]. - The company implemented a waste management program promoting the "5Rs" principle, focusing on replacement, reduction, reuse, recovery, and recycling[70]. - The total water usage for the reporting period was 531,677 cubic meters, with a density of 0.48 cubic meters per RMB 10,000 revenue[76]. - The company achieved a reduction in harmful waste generation from 8 tons to 5 tons[76]. - The total energy consumption decreased from 39,531,843 kWh to 38,116,958 kWh[76]. - The company has adopted ISO 14001:2015 environmental management system certification to reduce its environmental footprint[74]. - The company provided free healthy meals for all employees and organized various recreational activities to promote work-life balance[78]. - The group has established robust waste management control procedures to effectively identify, isolate, and handle hazardous and non-hazardous waste[70]. Workforce and Human Resources - The workforce decreased to 1,706 employees as of July 31, 2019, from 2,688 in 2018[58]. - Human resources expenses for the fiscal year were RMB 161,020,000, down from RMB 217,350,000 in 2018[58]. - The group has recruited over 400 Muslim employees in its Zhuhai operations since 2016, demonstrating its commitment to diversity and equal opportunity[79]. - The group provides additional holidays for Muslim employees to celebrate religious festivals and has designated prayer areas in its factories[79]. Corporate Governance - The company is committed to maintaining high standards of corporate governance, adhering to the latest developments in governance practices[114]. - The independent non-executive directors include experienced professionals with backgrounds in finance and investment banking, enhancing the board's expertise[109]. - The company has established a diversity policy for its board, aiming for at least 40% of board members to be non-executive or independent non-executive directors[136]. - The company has adopted a nomination policy to outline selection criteria and procedures for board members, ensuring a diverse range of perspectives[137]. - The board aims for at least one-third of its members to be independent non-executive directors, ensuring governance quality[136]. - The company emphasizes the importance of integrity and relevant industry experience in its selection criteria for board members[138]. Risk Management and Compliance - The board confirmed its responsibility for the risk management and internal control systems, which aim to manage risks associated with achieving business objectives[163]. - The audit committee reviewed the interim and annual reports before approval by the board[154]. - The company did not identify any significant risks or internal control weaknesses during the fiscal year[163]. - The group has implemented internal audit functions to ensure effective risk management and internal control measures, reporting results to the executive directors and audit committee[164]. - The board has conducted an annual review of the risk management and internal control systems, confirming their effectiveness for the fiscal year ending July 31, 2019[166]. Community Engagement - The company has established the Weisheng Charity Fund, recognized by local Chinese governments, to support various charitable services, contributing to elderly care, educational institutions, and impoverished families[93]. - The company encourages employee participation in community service, organizing voluntary blood donation activities with significant employee support[93]. - The company is committed to expanding its community service initiatives and enhancing employee engagement in these activities in the future[93]. Board Meetings and Attendance - The board of directors held four meetings during the fiscal year, focusing on approving the annual report and reviewing corporate strategies[119]. - The board of directors held 4 out of 4 meetings during the fiscal year ending July 31, 2019, indicating full attendance by executive directors[125]. - The nomination committee held one meeting to review the board structure and performance of directors for the fiscal year ended July 31, 2019[145]. - The remuneration committee's attendance rate was 100% for the chair and one member, while another member had 0% attendance[151]. Shareholder Information - The company did not recommend any dividend for the fiscal year, consistent with the previous year[29]. - The board of directors did not recommend a final dividend for the fiscal year ending July 31, 2019, consistent with the previous year[187]. - The company has adopted a dividend policy that considers various factors, including financial performance and cash requirements[188].
威铖国际(01002) - 2019 - 年度财报