Financial Performance - Total revenue for the fiscal year ending June 30, 2025, was approximately HKD 659 million, representing a 3% increase from HKD 640 million in the previous year[18]. - Net profit attributable to equity holders increased by 4% to approximately HKD 44 million, up from HKD 42 million in the prior year[18]. - Gross profit margin for the year was 61%, slightly down from 62% the previous year, primarily due to new tariffs imposed by the U.S.[18]. - The company’s total assets as of June 30, 2025, were HKD 874 million, an increase from HKD 833 million in 2024[13]. - The group's consolidated revenue for the fiscal year ending June 30, 2025, increased by 3% to approximately HKD 659 million, up from HKD 640 million in the previous year[27]. - The gross profit margin for the group was 61%, slightly down from 62% in the previous year, due to the impact of U.S. tariffs[27]. - The operating expenses were approximately HKD 351 million, slightly higher than HKD 349 million in the previous year, including a one-time loss of HKD 6 million related to a strategic decision to sublease a showroom in New York[27]. - The carpet business generated revenue of approximately HKD 645 million, a 3% increase from HKD 625 million last year, with Asia showing the highest growth of 17%[28]. Corporate Governance - The company has maintained high standards of corporate governance, adhering to the applicable provisions of the Corporate Governance Code as per the Hong Kong Stock Exchange rules[58]. - The board emphasizes the importance of integrity, ethical conduct, and responsible business practices, which are essential for long-term growth and sustainability[59]. - The company is committed to regularly reviewing and updating governance principles to reflect changing regulatory requirements and corporate governance developments[59]. - The board believes that high standards of corporate governance are crucial for maintaining long-term performance and creating value for shareholders and stakeholders[59]. - The company has a strong corporate culture that aligns with its mission, values, and strategies, promoting transparency, independence, accountability, and fairness[59]. - The board consists of experienced members with diverse backgrounds in various industries, enhancing the company's strategic decision-making capabilities[50][51][52][53][54][55][56]. - The company has a focus on investment management and property portfolio, with leadership experienced in asset management and banking[56]. - The company is actively involved in the governance of its subsidiaries, ensuring alignment with overall corporate strategies[48][50]. - The board includes independent non-executive directors, ensuring a balance of power and independent oversight[55][56]. - The company is committed to fostering an ideal corporate culture through integrity and leading by example[59]. Diversity and Inclusion - The board currently consists of 1 female director and 9 male directors, with efforts to increase the proportion of female members for better gender diversity[62]. - As of June 30, 2025, the gender distribution among employees is 351 male employees (46.6%) and 402 female employees (53.4%)[65]. - The company has adopted a diversity policy aimed at creating an inclusive work environment and ensuring equal opportunities regardless of gender, nationality, race, or religion[64]. - The nomination committee reviews the implementation and effectiveness of the diversity policy annually[63]. - The board diversity policy includes considerations of gender, age, independence, cultural background, and professional experience[102]. Risk Management and Internal Control - The board is responsible for the risk management and internal control systems, which aim to enhance operational efficiency and ensure compliance with relevant regulations[112]. - The audit committee assists the board in managing and overseeing the risk management and internal control systems[113]. - The company's risk management and internal control systems were deemed effective and sufficient for the fiscal year ending June 30, 2025, as assessed by the audit committee and board of directors[116]. - The audit committee regularly reviews the effectiveness of the internal audit department regarding risk management and internal control systems, reporting key findings to the board[116]. Environmental, Social, and Governance (ESG) Initiatives - The report covers the environmental, social, and governance (ESG) performance and management policies of the company for the fiscal year 2024/2025, from July 1, 2024, to June 30, 2025[131]. - The report is prepared in accordance with the ESG reporting guidelines set by the Hong Kong Stock Exchange, ensuring compliance with mandatory disclosure requirements[133]. - The company has identified 13 significant ESG issues through stakeholder surveys and assessments of sustainability trends, which remain relevant for the fiscal year 2024/2025[146]. - The board of directors is responsible for overseeing compliance, stakeholder engagement, and ESG performance, ensuring effective responses to sustainability opportunities and concerns[135]. - The company has established an Environmental, Health, and Safety department to manage policies and procedures related to environmental protection and resource management[137]. - Monthly sustainability training courses are provided to employees, covering topics such as regulations, certifications, and audits to enhance internal knowledge and participation[138]. - Stakeholder engagement is prioritized, with various communication channels established to gather feedback from government, shareholders, employees, suppliers, customers, and the public[139]. - The company aims to improve transparency and accountability regarding its sustainability actions and performance through quantitative data disclosure[133]. Employee Health and Safety - The company has set a target of ≤ 4 total work-related injuries by 2025, achieving this goal as of the reporting period[173]. - The company aims for 0 severe injuries (loss exceeding 105 days) by 2025, with this target also met[173]. - The company has achieved a 100% rectification rate for identified hazards, meeting its goal[173]. - The company has set a target of 0 occupational diseases by 2025, which has been achieved[173]. - The company has implemented various health and safety measures, including safety training courses for operators to enhance safety awareness[173]. - The company has a dedicated safety committee to manage health and safety systems, ensuring compliance with applicable laws[172]. Community Engagement and Social Responsibility - The company focuses on community investment in areas such as education, health, and culture[198]. - Resources allocated to community-focused initiatives are tracked, including financial contributions[198]. - The company has established measures to identify environmental and social risks at each stage of the supply chain[196].
TAI PING CARPET(00146) - 2025 - 年度财报