Financial Performance - Total revenue for the year ended June 30, 2022, was approximately HKD 583,656,000, representing a 21% increase from HKD 481,379,000 in the previous year[21] - The net profit attributable to the company's owners for the year was HKD 25,275,000, up 52% from HKD 16,634,000 in the prior year[13] - Operating profit for the year was approximately HKD 28,000,000, a 47% increase from HKD 19,000,000 in the previous year[21] - The return on equity attributable to owners was 5.9%, compared to 4.0% in the previous year[13] - The group's consolidated revenue for the fiscal year ended June 30, 2022, increased by 21% to approximately HKD 584 million, compared to HKD 481 million in the previous year[29] - Operating profit rose by 47% to approximately HKD 28 million, up from HKD 19 million in the previous year[29] - Net profit attributable to the company's owners increased by 52% to approximately HKD 25 million, compared to HKD 17 million for the year ended June 30, 2021[29] - The carpet business generated revenue of approximately HKD 564 million, a 21% increase from HKD 466 million last year[31] - The overall gross profit margin slightly decreased from 58% to 57% due to the global shipping crisis and increased transportation costs[31] Employee and Workplace Safety - The total number of employees in the manufacturing business increased to 592 from 527 year-on-year[34] - The total number of employees in the company reached 751, an 11% increase from 674 in the previous year[35] - The company continues to focus on employee health, safety, and well-being as a priority during the pandemic recovery[22] - The group has set a target of ≤ 4 total work-related injuries for 2022, achieving this goal with a total of 0 reported injuries[170] - The group has implemented a 100% rectification rate for identified hazards, meeting its target for 2022[170] - The group provided various employee benefits, including accommodation, meal plans, paid leave, and medical insurance, enhancing employee welfare[165] - A total of 516 employees participated in various training courses during the reporting period, including first aid training for employees at the Xiamen production workshop[172] - The group has achieved ISO 45001 certification for occupational health and safety, demonstrating compliance with international standards[167] - The group has established a comprehensive coronavirus emergency plan, including temperature checks and quarantine measures to ensure workplace safety[164] - The group has organized safety training and emergency drills to enhance employee preparedness for accidents[168] - The group has maintained a flexible work arrangement for employees showing symptoms or having been in high-risk areas, ensuring employee safety[164] - The group actively promotes a healthy lifestyle among employees through various interest groups and social activities, fostering a cohesive work environment[165] Corporate Governance - The board emphasizes the importance of diversity, including gender diversity, for business development and has adopted a Board Diversity Policy[68] - The board consists of members with skills and experience applicable to managing the group's business, ensuring compliance with procedures and regulations[70] - The roles of the Chairman and CEO are independent, with clear written responsibilities outlined[71] - The company has four independent non-executive directors, representing over one-third of the board, with at least one possessing appropriate accounting or financial management expertise[72] - The board held a total of five meetings during the year, with all members receiving at least 14 days' notice[82] - The Executive Committee held seven meetings during the year, with all members present at each meeting[89] - The company has purchased appropriate liability insurance for all directors and senior management, with annual reviews of coverage[81] - The board has established four committees: Executive Committee, Remuneration Committee, Audit Committee, and Nomination Committee[87] - All independent non-executive directors confirmed their independence annually, with reappointment requiring shareholder approval if they have served for over nine years[73] - The company provides ongoing professional development training for all directors to enhance their knowledge and skills[78] - The Compensation Committee was established on September 23, 2005, and is responsible for recommending policies regarding the remuneration of directors and senior executives, as well as reviewing performance-based compensation[90] - The Audit Committee held four meetings during the year to review interim and annual reports, and to discuss financial reporting, risk management, and internal control matters[94] - The external auditor, KPMG, received a total of HKD 2,591,000 for audit services and HKD 1,758,000 for non-audit services during the review year[99] - The Nomination Committee reviewed the board's structure, composition, and diversity, and found them to be appropriate, ensuring a diverse range of professional knowledge and qualifications among board members[96] - The board confirmed its responsibility for the effectiveness of the group's risk management and internal control systems, which aim to promote operational efficiency and ensure compliance with relevant regulations[105] - The internal audit function reviewed the effectiveness of the risk management and internal control systems, and the board assessed their effectiveness as sufficient and effective for the year ending June 30, 2022[106] Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers the period from July 1, 2021, to June 30, 2022[122] - The ESG report outlines the company's management policies and performance regarding sustainability and its environmental and social impacts[121] - The report is prepared in accordance with the Hong Kong Stock Exchange's ESG reporting guidelines, ensuring transparency and accountability[124] - The board of directors approved the ESG report on September 16, 2022[127] - The company encourages stakeholder feedback to enhance its ESG development[128] - The company has set various key performance indicators related to environmental performance, achieving targets such as zero environmental pollution incidents and compliance with water and air pollution discharge standards[145] - The company is committed to reducing greenhouse gas emissions primarily generated from manufacturing and transportation, with measures implemented to minimize emissions by locating operations closer to local markets[146] - The company has established an Environmental, Health, and Safety department responsible for managing policies and procedures related to environmental protection and resource management[129] - The company has identified 21 sustainability issues, with 12 prioritized as important based on stakeholder feedback[135] - The company conducts annual internal and external environmental audits to ensure compliance with environmental management regulations, reporting no violations during the reporting period[141] - The company actively engages with stakeholders through various communication channels to understand and meet their expectations and demands[130] - The company has adopted energy-saving measures, including the installation of variable frequency drives and energy-efficient LED lighting systems, to reduce energy consumption[146] - The company has achieved its energy usage targets at its Xiamen production workshop, based on a benchmark from 2019 electricity consumption[146] - The company has established a governance framework for environmental, social, and governance matters, ensuring effective internal communication on sustainability issues[129] - The Xiamen production workshop has advanced equipment and environmentally friendly features, significantly reducing energy consumption through evaporative cooling systems and natural ventilation designs[147] - The group has set a water consumption reduction target based on 2019 levels, aiming to lower water usage per unit of production by 2021[150] - The wastewater treatment facility at the Xiamen workshop can process approximately 200 tons of wastewater daily, ensuring compliance with environmental regulations[150] - The group actively integrates sustainable practices by sourcing natural fibers such as wool, silk, and cotton, which are biodegradable and have lower environmental impacts compared to synthetic fibers[156] - The group has implemented a waste management program to minimize environmental impact, ensuring proper classification and handling of waste materials generated during production[155] Community Engagement and Training - The company emphasizes community investment and sustainable development, focusing on hiring local residents to promote local economic growth[186] - The company conducts annual customer satisfaction surveys to gather feedback on service and product quality, using the data to identify areas for improvement[180] - A total of 548 employees and all directors participated in anti-corruption training, accumulating approximately 274 hours of training during the reporting period[185] - The total number of products sold or delivered reached 86,360 square meters, an increase from 64,135 square meters in the previous fiscal year[195] - The average training hours for managers was 12.43 hours, while for general employees it was 12.47 hours[195] - The percentage of employees receiving training increased, with 94.14% of male and 94.18% of female employees trained[193]
TAI PING CARPET(00146) - 2022 - 年度财报