Financial Performance - For the fiscal year 2024, the company recorded an 8% increase in revenue to $9,183,000, compared to $8,512,000 in 2023[11]. - The company achieved a profit attributable to owners of $1,706,000, a significant turnaround from a loss of $3,974,000 in the previous year[11]. - The basic earnings per share were $0.16, compared to a basic loss per share of $0.36 in 2023[11]. - The shipping business contributed a profit of $3,097,000, up from $2,227,000 in 2023[11]. - The company reported a gain of $106,000 from the sale of a subsidiary, compared to a loss of $2,100,000 in the previous year[11]. - The company reduced its credit loss provision on debt instruments to $389,000, down from $1,146,000 in 2023[11]. - In the fiscal year 2024, the shipping business recorded a revenue increase of 9% to $9,183,000, and profit increased by 39% to $3,097,000 compared to the previous year[16]. - The company recorded a loss of $389,000 in its investment holding business, a decrease from a loss of $1,186,000 in the previous year, primarily due to credit loss provisions on debt instruments[20]. - The group’s financial costs for the fiscal year 2024 were $20,000, a decrease of 89% from $187,000 in 2023, primarily due to the repayment of all borrowings within the year[28]. - As of December 31, 2024, the group's debt ratio was zero, compared to approximately 1% on December 31, 2023, calculated as total borrowings of $756,000 divided by total equity of $57,098,000[28]. - Bank interest income increased by 27% to $776,000 in 2024, up from $612,000 in 2023, mainly due to an increase in surplus funds[28]. - The net proceeds from the public offering amounted to $8,621,000, with $2,821,000 used to repay a bank revolving loan and the remaining $5,800,000 allocated for the group's shipping business operating capital[31]. Business Strategy and Outlook - The company plans to diversify its revenue sources to mitigate the cyclical impacts on fleet demand and promote sustainable long-term growth[12]. - The company remains cautiously optimistic about the medium to long-term prospects of the shipping business, driven by global economic recovery and increasing demand for bulk commodities[12]. - The company aims to enhance ship management standards while focusing on cost reduction and efficiency improvement[12]. - The company will actively seek opportunities to restart and expand its commodity trading business, as well as explore potential investment and acquisition opportunities[12]. Corporate Governance - The company emphasizes the importance of corporate governance and aims to achieve high standards in this area[85]. - The board believes that a healthy corporate culture is crucial for achieving the group's vision and values[86]. - The company has complied with all applicable provisions of the Corporate Governance Code as per the Hong Kong Listing Rules for the year ending December 31, 2024[87]. - The board of directors consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced composition[89]. - The company held four regular board meetings and two shareholder meetings during the year, with attendance rates for executive directors ranging from 75% to 100%[94]. - The company has established mechanisms to ensure independent non-executive directors can provide independent views and opinions[92]. - The role of the chairman and CEO is separated, with the chairman position currently vacant following the resignation of the previous chairman on November 22, 2024[95]. - The company encourages continuous professional development for all directors to enhance their knowledge and skills[90]. - The board evaluates the independence of non-executive directors annually, considering various factors such as character, integrity, and time commitment[92]. - The company provides independent professional advice to directors as needed, with costs borne by the company[92]. - The board will review its existing structure periodically and will appoint a new chairman when a suitable candidate is identified[95]. Environmental, Social, and Governance (ESG) Initiatives - The company has a strong focus on environmental sustainability and compliance with international regulations[47]. - The company aims to reduce greenhouse gas emissions intensity by 20% by the end of the fiscal year 2030, using fiscal year 2024 as the baseline[146]. - The total greenhouse gas emissions for fiscal year 2024 amounted to approximately 3,111.734 e tCO2, a significant decrease from 8.94 e tCO2 in fiscal year 2023[151]. - The company has identified key environmental, social, and governance (ESG) issues through a materiality assessment conducted in fiscal year 2024[140]. - The company has no significant violations related to air emissions, water, and land pollution laws during fiscal year 2024[144]. - The company has implemented various measures to reduce energy consumption, contributing to its overall sustainability goals[148]. - The company has established a "green deposit" at a bank to fund green projects, reflecting its commitment to corporate social responsibility[163]. - The company has established a crisis response plan to minimize the negative impacts of extreme weather events on operations[167]. - The company regularly reviews its environmental goals and the effectiveness of its environmental protection measures[143]. Employee and Workforce Management - The company has implemented a five-day workweek and provides various types of leave to promote work-life balance for employees[190]. - In the fiscal year 2024, the percentage of trained employees is approximately 77.78%, an increase from 76.47% in the fiscal year 2023[196]. - The average training hours per employee in fiscal year 2024 is about 20.00 hours, down from 35.59 hours in fiscal year 2023[196]. - The employee turnover rate for the fiscal year 2024 was 27.78%, with a total of 5 employees leaving the company[184]. - The company maintains a zero-tolerance policy towards any form of workplace harassment or discrimination[192]. - The company has established comprehensive safety management systems for its maritime operations, including a safety management manual and emergency plans[195]. - The company prohibits the employment of child labor and forced labor, adhering to relevant labor laws and regulations[197]. Supplier and Procurement Management - The group collaborates with 9 major suppliers in the fiscal year 2024, an increase from 6 in fiscal year 2023[200]. - The group prioritizes suppliers with ISO 14001 certification in its selection process[199]. - The group conducts regular inspections of suppliers to monitor compliance with environmental and social regulations[199]. - The group encourages suppliers to consider climate change risks and mitigate their environmental impact[199]. - The group has established a fair and competitive bidding process for supplier selection[200]. - The group shares sustainable operational practices and environmental concepts with suppliers[200].
勇利投资(01145) - 2024 - 年度财报