Financial Performance - For the fiscal year ending September 30, 2021, the group's revenue was approximately HKD 254.9 million, an increase of about HKD 10.7 million or 4.4% compared to the previous fiscal year[13]. - Rental income from property investments for the fiscal year was approximately HKD 1.4 million, up from HKD 0.11 million in the previous fiscal year[12]. - The gross profit decreased by approximately HKD 9.1 million, with the gross profit margin dropping from 21.7% in the previous fiscal year to 17.2% due to increased costs influenced by COVID-19[13]. - Other income recorded was approximately HKD 4.7 million, a decrease of about HKD 1.2 million compared to the previous fiscal year, attributed to reduced bank interest income[14]. - Total profit and comprehensive income decreased by approximately HKD 6.2 million, mainly due to a reduction in gross profit of about HKD 9.1 million and a decrease in other income of approximately HKD 1.2 million[16]. - The group confirmed project orders amounting to approximately HKD 1,171.3 million, with completion dates extending into the fiscal year 2023[30]. - The top five customers accounted for approximately 100.0% of total revenue in the fiscal year 2021, with the largest customer contributing about 58.2%[95]. - The top five suppliers represented approximately 48.3% of total material costs, with the largest supplier accounting for about 15.4%[96]. Project Development - The group completed the M+ Museum and Hong Kong Sanatorium & Hospital projects, contributing 20.2% to revenue, and commenced four new projects in the second half of the year, contributing 74.2% to revenue[13]. - Future focus will be on major construction projects in Hong Kong, including Kwong Wah Hospital and the new Taxation Headquarters[12]. - The group has sufficient orders in hand, indicating a strong pipeline for future projects[9]. Corporate Governance - The board is committed to maintaining high levels of corporate governance and has complied with the relevant regulations throughout the fiscal year[34]. - The board has complied with the listing rules requiring at least three independent non-executive directors, with at least one possessing appropriate professional qualifications or accounting expertise[38]. - All independent non-executive directors have submitted annual confirmations of their independence, and the company believes they are all independent individuals[38]. - The board has maintained a balanced skill set and experience suitable for the company's business needs[38]. - The audit committee held two meetings during the year to review the financial statements and discuss risk management and internal control systems[52]. - The company encourages directors to participate in continuous professional development to enhance their knowledge and skills[47]. - The board is responsible for establishing the company's operational and strategic direction, monitoring financial performance, and ensuring effective internal controls[39]. - The company has not established a formal CEO position, but the executive directors effectively fulfill this role[48]. - The audit committee members are all independent non-executive directors and are not members of the company's previous or current auditors[52]. - The company requires directors to submit training records annually to ensure compliance with corporate governance codes[47]. - The board will continue to review the effectiveness of the group's structure as the business grows[48]. - The remuneration committee held two meetings during the year to review the remuneration policy and structure for all directors and senior management, and to recommend these to the board for approval[53]. - The nomination committee also held two meetings to review the board's structure and composition, and to assess the independence of independent non-executive directors[55]. - The risk management committee conducted one meeting to oversee the risk management framework and review risk reports, ensuring effective risk control measures[56]. - The external auditor's fees for the year ended September 30, 2021, amounted to HKD 950,000 for audit services[61]. - The board confirmed that the risk management and internal control systems are effective and sufficient, complying with the corporate governance code[64]. - The company is committed to maintaining effective communication with shareholders and investors, providing comprehensive operational and financial performance information[68]. - The internal audit function reviewed the effectiveness of the risk management and internal control systems during the year, reporting findings and recommendations to the audit committee and board[62]. - The company has established a disclosure mechanism to ensure timely publication of inside information in compliance with applicable laws and regulations[64]. - The company reported its annual financial statements for the year ending September 30, 2021, with no significant changes in the articles of association[72]. - The board of directors includes experienced members with over 30 years of professional experience in finance and management[75][76][80][81][83]. - The financial management and company secretary roles are overseen by the financial director, who has over 30 years of experience in public accounting and corporate governance[75][80]. - The company has a structured process for shareholders to submit inquiries and concerns to the board[71]. - The board is responsible for overall strategic management and development of the group[75]. - The company has appointed independent non-executive directors to provide independent judgment and oversight[81][83]. - The chairman and executive director has a master's degree in finance and extensive experience in the construction industry[75]. - The company has a diverse board with members from various professional backgrounds, enhancing its governance[76][81]. - The annual report and audited consolidated financial statements were presented to the shareholders[85]. - The company did not recommend a final dividend for the fiscal year 2021, consistent with the previous fiscal year where no dividend was paid[88]. - The company's distributable reserves as of September 30, 2021, amounted to approximately HKD 98.2 million, which includes share premium and stock option reserves after deducting accumulated losses[91]. - The company has complied with the disclosure requirements regarding related party transactions as per the listing rules[120]. - There are no significant transactions or contracts in which the directors have a material interest during the year[126]. - The company has received confirmations from controlling shareholders regarding compliance with non-competition commitments for the year ending September 30, 2021[125]. - The total number of shares held by major shareholders includes 413,895,000 shares held by Mr. Gao Junxi and 302,747,000 shares held by Da De Investment Trading Limited[121]. - The group made charitable donations of approximately HKD 1.2 million in the fiscal year 2021, compared to HKD 1.8 million in the fiscal year 2020[140]. - The company confirmed that its public float has consistently met the requirements of the listing rules as of the date of the annual report[136]. - The group is committed to sustainable development and has implemented ESG strategies to manage related risks effectively[144]. - The ESG report covers the group's operations in Hong Kong, which is the primary source of revenue[145]. - The group has adopted a stock option plan as a reward for eligible participants, reflecting its compensation policy based on individual qualifications and contributions[129]. - The company did not purchase, sell, or redeem any of its listed securities during the fiscal year 2021[135]. - The board of directors confirmed the independence of all independent non-executive directors in accordance with the listing rules[128]. Employee and Workplace Culture - The group employed 287 employees as of September 30, 2021, an increase from 138 employees in the previous fiscal year[23]. - The company maintained a strong relationship with employees, offering competitive compensation to attract and motivate them[97]. - The company has established a transparent recruitment process and offers competitive compensation packages to attract and retain experienced employees[199]. - The company is committed to creating an inclusive workplace culture, ensuring equal opportunities for all employees without discrimination[200]. - The company has not been aware of any significant violations of employment laws that could impact its operations[198]. Environmental Management - The group is focused on optimizing and improving the disclosure methods for key performance indicators related to ESG[145]. - The total greenhouse gas emissions for the reporting period were approximately 54.70 tons, an increase from 47.81 tons in the previous year, with a per-employee emission of 0.19 tons compared to 0.35 tons in the prior year[172]. - Scope 1 direct emissions amounted to 23.46 tons, while Scope 2 indirect emissions were 17.20 tons, and Scope 3 other indirect emissions were 14.04 tons[172]. - The company aims to reduce greenhouse gas emissions in the coming year by implementing measures such as optimizing vehicle routes and using low-sulfur fuel[174]. - The total paper consumption was 2,906 kg, with a per-employee density of 10.13 kg, compared to 2,300 kg and 16.67 kg per employee in the previous year[180]. - The company plans to reduce non-hazardous waste by 2% in the upcoming year and has implemented waste management processes to encourage recycling and reuse[184]. - The number of employees increased to 287 from 138 in the previous year, which may impact resource consumption metrics[173]. - The company has established a comprehensive environmental management system and obtained ISO 14001:2015 certification[167]. - The company has not reported any significant violations of environmental laws and regulations during the reporting period[167]. - The company encourages subcontractors to minimize waste generation and use recyclable packaging materials[180]. - The company has set policies to manage resource usage effectively, including fuel, electricity, and water[185]. - The company aims to reduce energy consumption by 2% in the coming year, including water usage[187]. - Diesel consumption was 7,028 liters per employee in 2021, a decrease from 5,309 liters in 2020, while gasoline consumption was 2,157 liters per employee, down from 2,223 liters[188]. - Electricity consumption was 40,952 kWh per employee in 2021, compared to 30,409 kWh in 2020, indicating a significant increase in energy efficiency measures[188]. - Water consumption was 224 cubic meters in the reporting period, with a per-employee usage of 0.78 cubic meters, down from 1.06 cubic meters in 2020[189]. - The company has implemented energy-saving measures, including setting air conditioning to a minimum of 25 degrees Celsius and encouraging employees to turn off equipment when not in use[188]. - The company has not engaged in industrial production or used significant packaging materials, reflecting its operational focus[191]. - The company recognizes the impact of climate change and has taken measures to reduce greenhouse gas emissions and prepare for extreme weather events[196].
高丰集团控股(02863) - 2021 - 年度财报