Financial Performance - The total revenue for the fiscal year ending June 30, 2024, was approximately HKD 795.7 million, an increase of 112.6% compared to HKD 374.3 million in the previous year[12]. - The loss attributable to the company's owners was approximately HKD 88.5 million, a decrease of 49.8% from HKD 176.2 million in the previous year[12]. - The revenue from the wire and cable business was approximately HKD 248.1 million, a 21.0% increase from HKD 205.1 million in the previous year, accounting for 31.2% of total revenue[13]. - The revenue from the copper rod business surged to approximately HKD 537.1 million, a 241.9% increase from HKD 157.1 million in the previous year, representing 67.5% of total revenue[13]. - Revenue from rental income was approximately HKD 10.5 million, a decrease of 13.3% from HKD 12.1 million in the previous year, accounting for 1.3% of total revenue[13]. - The Americas market revenue increased by 3.0% to approximately HKD 30.4 million, representing 3.8% of total revenue[13]. - Revenue from mainland China and Hong Kong rose by 144.8% to approximately HKD 690.4 million, accounting for 86.8% of total revenue[13]. - The European market revenue increased by 24.5% to approximately HKD 42.0 million, representing 5.3% of total revenue[13]. Business Strategy and Operations - The company aims to optimize and integrate existing businesses while seeking potential partnerships and new business opportunities for balanced development and revenue diversification[20]. - The group anticipates a challenging operating environment in the coming year due to high interest rates and a sluggish leasing market[20]. - The group will adjust strategies and resources in response to economic conditions to enhance cash flow and mitigate uncertainties from the leasing market and high interest rates[20]. - The main business activities include cable and wire operations, copper rod business, property investment, and mining operations[26]. Risk Management - The board of directors has identified key risks and uncertainties that may directly or indirectly affect the group's financial condition and operational performance[27]. - The group actively monitors foreign exchange risks, particularly fluctuations in the Renminbi, as most of its operations are based in China[29]. - The management is focused on managing market risks that could impact profitability and the ability to achieve business objectives[30]. - The group employs dynamic benchmarks to analyze interest rate risks and considers various methods to manage these risks cost-effectively[31]. Corporate Governance - The company has complied with all principles of the Corporate Governance Code, except for specific deviations noted in the report[93]. - The board of directors consists of six members, including three executive directors and three independent non-executive directors, ensuring compliance with listing rules[100]. - The company is actively seeking to appoint a new independent non-executive director by the first half of 2025 to comply with governance code B.2.4(b) due to the current board's composition exceeding the nine-year tenure limit[96]. - The board believes that maintaining the current composition, with independent non-executive directors making up half of the board, supports effective corporate governance despite deviations from the code[96]. Shareholder Information - The company announced a share consolidation on March 4, 2024, merging every 20 existing shares with a par value of HKD 0.01 into 1 consolidated share with a par value of HKD 0.20[35]. - The company did not recommend a final dividend for the year ending June 30, 2024[43]. - The company has no predetermined dividend payout ratio, and the board will consider various factors such as financial performance and cash flow when declaring dividends[125]. Environmental, Social, and Governance (ESG) - The company has adopted environmental initiatives, including waste paper recycling and energy conservation measures[41]. - The board is responsible for overseeing the company's environmental, social, and governance (ESG) strategies and ensuring compliance with sustainable development principles[144]. - The company aims to become a leading manufacturer and quality supplier of cables, wires, and copper rods in China and globally[143]. - The company is committed to creating value for society and the environment through responsible actions in its business operations[93]. Employee and Workforce Management - The group employed approximately 350 employees, a decrease from 400 employees as of June 30, 2023[85]. - The employee turnover rate for 2024 was 22%, compared to 18% in 2023, indicating an increase in employee attrition[191]. - The percentage of employees receiving training remained high at 94.00% in 2024, slightly down from 94.13% in 2023[198]. - The company provided medical insurance for all eligible employees in both China and Hong Kong, adhering to local statutory requirements[195]. Legal and Compliance - The company has maintained compliance with relevant laws and regulations without any significant violations during the review year[34]. - The company has not engaged in large-scale capital investments in the mining sector during the review year due to uncertainties in the Mongolian and international mineral markets[28]. - The company has not reported any violations related to hazardous or non-hazardous waste during the 2024 report period[158]. Future Outlook - The group recognizes climate change as a source of both risks and emerging opportunities, aiming to enhance energy efficiency and increase the use of renewable energy[180]. - The company aims to reduce air pollutants and CO2 emissions by 1-2% at the Dongguan factory in the coming year[156]. - The company plans to lower energy consumption by 2-3% in the next year through continued energy-saving measures[162].
星凯控股(01166) - 2024 - 年度财报