Financial Performance - The company reported revenue of RMB 74 million for the fiscal year, a decrease of approximately 15% from RMB 88 million in the previous fiscal year[8]. - Gross profit for the fiscal year was RMB 24 million, with a gross margin of 32%, down from RMB 26 million in the previous year[8]. - Operating loss for the fiscal year was RMB 10 million, compared to a loss of RMB 4 million in the previous year[8]. - The loss attributable to shareholders was RMB 14 million, an increase from RMB 6 million in the previous year[8]. - Revenue for the year ended June 30, 2024, was RMB 74,467,000, a decrease of 15.3% from RMB 87,858,000 in 2023[162]. - Gross profit for the same period was RMB 24,026,000, down from RMB 25,970,000, reflecting a decline of 7.5%[162]. - Operating loss increased to RMB 13,332,000 compared to RMB 3,652,000 in the previous year, indicating a significant deterioration in operational performance[162]. - The net loss for the year was RMB 13,920,000, compared to a loss of RMB 4,311,000 in 2023, representing an increase of 223.5%[163]. - Total assets decreased to RMB 201,915,000 from RMB 210,094,000, a decline of 3.8% year-over-year[164]. - Cash and cash equivalents were RMB 105,983,000, down from RMB 109,031,000, a decrease of 2.0%[164]. - The company reported a basic and diluted loss per share of RMB 0.005, compared to RMB 0.002 in the previous year[163]. - Total comprehensive loss for the year was RMB 6,363,000, compared to a loss of RMB 16,785,000 in the previous year, representing an improvement of approximately 62%[169]. Operational Strategy - The company is focusing on enhancing its operational strategies and exploring profitable investment opportunities to create long-term sustainable value for shareholders[7]. - The company plans to maintain a cautious approach in its business operations while continuously reassessing and redesigning its development strategies[7]. - The company is focusing on digital construction in agricultural production and promoting its self-developed smart farm management system[11]. - The company plans to participate in local government agricultural big data platform construction to support its new business model[11]. - The company aims to enhance its environmental, social, and governance performance as a core part of its business strategy[46]. - The new business model aims to address issues in agricultural production and sales, leveraging modern internet technology and big data to connect small farmers with modern agriculture[51]. Governance and Board Structure - The board consists of seven members, including one female director, reflecting a commitment to diversity[29]. - The chairman and CEO roles are currently held by the same individual, Mr. Guo, who has extensive agricultural knowledge and expertise[25]. - The remuneration committee is composed of three members, including two independent non-executive directors and one executive director[26]. - The company has adopted a board diversity policy, ensuring a balance of skills, experience, and perspectives among board members[22]. - The board's governance practices include regular reviews to maintain a balance of power and authority[25]. - The board confirmed its responsibility for overseeing the group's risk management and internal control systems, with the audit committee reviewing these systems at least annually[34]. Risk Management and Compliance - The group has established a formal risk assessment system, identifying potential risks annually based on their likelihood and impact on business operations[35]. - The internal audit department, led by the internal audit manager, is responsible for independently reviewing the group's major business operations and reporting to the audit committee[36]. - The board expects to review the risk management and internal control systems annually, with no significant risks identified for the fiscal year ending June 30, 2024[37]. - The company emphasizes its commitment to sustainable development and has set targets to improve greenhouse gas emissions, waste management, energy management, and water management in alignment with China's carbon neutrality goals[46]. - The company has established effective management policies and monitoring systems for ESG matters, ensuring compliance with reporting guidelines[54]. Employee and Labor Practices - The company employed 97 staff members as of June 30, 2024, down from 107 in 2023[15]. - The employee turnover rate for the fiscal year is approximately 11%, with a breakdown of 13% for male employees and 10% for female employees[82]. - The company has not recorded any work-related fatalities or serious injuries in the past three years, indicating a strong commitment to employee health and safety[83]. - The company adheres to various labor laws and regulations, ensuring the protection of employee rights and benefits, including mandatory retirement contributions for employees in Fuzhou and Hong Kong[78]. - A competitive compensation system is in place, which includes basic salary, performance pay, and various bonuses, with annual evaluations to adjust salaries based on macroeconomic factors[77]. - The company emphasizes equal opportunity and anti-discrimination policies in recruitment, ensuring fair treatment regardless of various personal factors[80]. Environmental Impact and Sustainability - The company emphasizes green development and innovation to improve the quality and supply level of agricultural products[9]. - The company has identified 20 significant environmental, social, and governance (ESG) issues through internal surveys and stakeholder assessments, which will guide its ESG strategy and reporting focus[54]. - The total greenhouse gas emissions intensity is targeted to decrease by 2% by 2024 compared to 2021, with a further 2% reduction aimed by 2030[57]. - The total harmless waste intensity is also set to decrease by 2% by 2024 compared to 2021, with a similar target for 2030[57]. - Energy consumption intensity is expected to reduce by 2% by 2024 compared to 2021, with a further 2% reduction by 2030[57]. - Water consumption intensity is projected to decrease by 2% by 2024 compared to 2021, with an additional 2% reduction targeted for 2030[57]. Community Engagement and Social Responsibility - The company donated approximately HKD 1,060,000 to the Yau Wah Cultural Charity Foundation during the reporting period[102]. - The company has established a "Super Large Love Foundation" to support employees in need, focusing on those with special difficulties[103]. - The company actively encourages employees to participate in social welfare activities to enhance their sense of social responsibility[104]. - The company has established various reward and funding programs, such as scholarships, to encourage students from underprivileged backgrounds to pursue careers in ecological agriculture[102]. Financial Position and Equity - The total equity of the company as of June 30, 2024, was RMB 200 million, down from RMB 209 million in 2023[12]. - The company maintained a current ratio of 4 times as of June 30, 2024, consistent with the previous year[12]. - The company has no outstanding bank loans or long-term debts as of June 30, 2024, resulting in a debt-to-equity ratio of zero[12]. - The company reported a reserve of RMB 743,756,000 as of June 30, 2024, down from RMB 771,220,000 in 2023[124]. - The company did not recommend any dividend distribution for the fiscal year ending June 30, 2024, consistent with the previous year[124].
超大现代(00682) - 2025 - 年度财报