Financial Performance - The company's revenue decreased by 3.2% from approximately HKD 843 million for the year ended December 31, 2023, to approximately HKD 815 million for the year ended December 31, 2024[12]. - The company's revenue for the year ending December 31, 2024, was approximately HKD 81.5 million, a decrease of about 3.2% from approximately HKD 84.3 million for the same period in 2023[16]. - Revenue from the sale of industrial aluminum electrolytic capacitors decreased from approximately HKD 73.6 million in 2023 to approximately HKD 68.7 million in 2024, a decline of about 4.9 million HKD[16]. - The net loss for the year ending December 31, 2024, was approximately HKD 5.5 million, a reduction from a loss of approximately HKD 12.2 million in 2023[24]. - Basic loss per share for the year ending December 31, 2024, was approximately HKD 0.019, compared to approximately HKD 0.0423 for the year ending December 31, 2023[25]. - Total assets as of December 31, 2024, were approximately HKD 96.6 million, down from HKD 107.6 million in 2023[26]. - The company did not recommend a final dividend for the year ending December 31, 2024, consistent with the previous year[29]. - The company reported no final dividend for the year ending December 31, 2024, consistent with the previous year where no dividend was declared[122]. Strategic Initiatives - The company successfully expanded into the high-end smart electronic devices and artificial intelligence sectors, leveraging its experience in electronic component production[12]. - The integration of AI technology into products aims to create data-driven added value for customers[12]. - The company plans to increase innovation investment to promote the synergy of electronic components, smart hardware, and AI algorithms[13]. - The strategic implementation is expected to create sustainable long-term value for shareholders[13]. - The company is focused on developing a comprehensive solution from underlying technology to application scenarios[13]. Corporate Governance - The company has a strong governance structure with independent non-executive directors overseeing audit and remuneration committees[42]. - The company has adhered to the corporate governance code throughout the fiscal year ending December 31, 2024, with the exception of deviation from code provision C.2.1[52]. - The board consists of five members, including two executive directors and three independent non-executive directors[57]. - The company has adopted the GEM Listing Rules regarding the minimum appointment of three independent non-executive directors, ensuring compliance with independence guidelines[61]. - The board has established an independence assessment mechanism to enhance its effectiveness and identify areas for improvement[62]. - The independence assessment report for the board was presented and the results were satisfactory for the fiscal year ending December 31, 2024[63]. - The company aims to provide satisfactory and sustainable returns to shareholders while safeguarding the interests of business partners[54]. - The company will continue to strengthen its corporate governance practices to align with its business operations and development[52]. Risk Management - The company has implemented a risk management and internal control system to identify, assess, and manage risks affecting operational efficiency and effectiveness[97]. - The board has adopted a credit risk management policy to mitigate financial risks, including continuous credit assessments and monitoring of significant overdue payments[98]. - The company has established a whistleblowing policy for employees and stakeholders to report misconduct confidentially and anonymously[98]. - The board confirmed that there are no significant uncertainties that may cast doubt on the company's ability to continue as a going concern[101]. Environmental, Social, and Governance (ESG) Practices - The company emphasizes sustainable development and stakeholder engagement in its environmental, social, and governance (ESG) practices[169]. - The group adheres to ISO 9001:2015 quality standards and has implemented a comprehensive quality control system[176]. - The board is responsible for overseeing the group's ESG strategies and performance, with a dedicated ESG working group assisting in implementation[178]. - The total greenhouse gas emissions for the reporting year amounted to 4,404.90 tons of CO2 equivalent, a slight increase from 4,328.70 tons in the previous year[191]. - The company aims to maintain stable levels of waste and greenhouse gas emissions in the next reporting year, targeting a density of 80% to 120% of the current year's recorded density[190]. - The company achieved ISO14001:2015 certification, ensuring minimal negative environmental impact during major production processes[187]. - The company has implemented an environmental management system to guide the R&D, production, and sales of aluminum electrolytic capacitors[187]. Shareholder Relations - The company has a shareholder communication policy to ensure that shareholder opinions and concerns are properly addressed[111]. - The independent non-executive directors attended the annual general meeting to gather shareholder feedback[95]. - The company has received annual confirmations from former controlling shareholders regarding compliance with non-competition agreements[73]. Board Composition and Diversity - The company has adopted a board diversity policy on October 24, 2017, which emphasizes the importance of a diverse board for maintaining competitive advantage[81]. - The board consists of 5 members, with 4 male and 1 female, achieving a gender diversity target of at least 20% female directors[86]. - The company aims for female employees, including senior management, to represent at least 40% of the workforce, which has been met[86]. - The nomination committee will regularly review the board diversity policy to ensure its effectiveness[84]. Operational Performance - The company operates in a highly competitive aluminum electrolytic capacitor industry, with significant reliance on the Chinese market for revenue[124]. - The company has established a good reputation for producing high-quality and reliable products, which is crucial for customer satisfaction[127]. - The company has fully utilized funds to increase production capacity for aluminum electrolytic capacitors and establish a second production facility in Dongguan, Guangdong Province[162].
数盟资本(08375) - 2024 - 年度财报