Financial Performance - The company's revenue for the year ended December 31, 2021, was approximately $101.3 million, an increase of $6.5 million or 6.9% compared to $94.7 million in 2020[8]. - The net profit attributable to the company's owners was approximately $4.8 million, with earnings per share of $0.07, compared to a net profit of $3.0 million and earnings per share of $0.05 in 2020[6]. - The graphite business generated revenue of $23.9 million, a significant increase of 118.9% from $10.9 million in the previous year, driven by rising demand and prices as the global economy recovers from the pandemic[11]. - The electronic manufacturing services segment in the UK reported revenue of $76 million, a decrease of $7.1 million or 8.6% from $83.1 million in 2020, primarily due to the absence of government contracts for ventilators[13]. - The company expects steady revenue growth in its graphite business due to rising demand and prices as the global economy recovers from the pandemic[18]. Assets and Liabilities - Total assets as of December 31, 2021, were approximately $407.9 million, up from $399.1 million in 2020, while net assets increased to $387.9 million from $382.4 million[8]. - As of December 31, 2021, the company's cash and cash equivalents were approximately $18.4 million, down from $21.4 million on December 31, 2020[20]. - The net current assets as of December 31, 2021, were approximately $351 million, compared to $344.1 million in 2020[20]. - The company has no bank borrowings as of December 31, 2021, and its debt-to-equity ratio was 0.1%[20]. Investment and Capital Expenditures - The company continues to invest in capital equipment and new technologies to improve future production capacity and service offerings[14]. - Approximately $73.5 million (around $9.4 million) of the funds raised have been utilized for various capital expenditures, including production lines and warehouses[22]. - The company plans to use the remaining unutilized funds of approximately $495.5 million (around $63.5 million) for future capital projects from 2022 to 2025[22]. COVID-19 Impact and Response - The group faced significant disruptions and uncertainties due to the COVID-19 pandemic, impacting customer demand and product pricing[60]. - The company has taken measures to mitigate the impact of COVID-19, including adjusting the construction schedule for its graphite production line in Madagascar[22]. - The company has noted a recovery in demand for graphite products as vaccination rates increase and the economy gradually recovers from the pandemic[15]. Governance and Compliance - The company has complied with all corporate governance code provisions, except for the separation of the roles of Chairman and CEO, which are held by the same individual[36]. - The company has adopted corporate governance practices in compliance with the listing rules throughout the year ending December 31, 2021[105]. - The board consists of five members, with three being independent non-executive directors, ensuring a high level of independence and effective decision-making[123]. - The company has confirmed that all directors complied with the securities trading standards throughout the year ended December 31, 2021[122]. Risk Management - The board is responsible for maintaining an effective risk management and internal control system, which includes identifying significant risks and assessing their impact on the business[175]. - The company has implemented appropriate measures for risk management and has not presented any significant issues requiring improvement[176]. - The audit committee reported that the risk management and internal control systems were appropriate and effective throughout the year ending December 31, 2021[177]. Environmental Responsibility - The company has implemented measures to reduce carbon emissions and improve energy efficiency as part of its environmental responsibility[197]. - The company has not encountered any significant issues regarding compliance with applicable standards and regulations related to environmental protection[197]. - Axiom Manufacturing Services Limited, a wholly-owned subsidiary, has obtained ISO 140001 certification and has set annual goals to reduce the use of natural resources[198]. - The company recycles all waste paper, cardboard, and soft plastics, and uses energy-efficient bulbs for factory, parking lot, and road lighting[199]. Shareholder Engagement - The company emphasizes equal opportunities for all shareholders to exercise their rights and actively participate in corporate affairs[181]. - Shareholders holding at least 5% of total voting rights can request a special general meeting[183]. - The company is committed to effective communication with shareholders to enhance long-term value[190].
谊砾控股(00076) - 2021 - 年度财报