建滔集团(00148) - 2022 - 年度财报

Financial Performance - In FY 2022, Kingboard Holdings reported revenue of HK$49,375.9 million, a decrease of 13% from HK$56,755.3 million in FY 2021[6] - EBITDA for FY 2022 was HK$9,445.3 million, down 46% from HK$17,559.9 million in FY 2021[6] - The net profit attributable to owners of the Company for FY 2022 was HK$3,882.7 million, a decline of 63% compared to HK$10,565.4 million in FY 2021[6] - Basic earnings per share based on underlying net profit decreased to HK$3.502 in FY 2022 from HK$9.537 in FY 2021, representing a 63% drop[6] - The proposed final dividend per share for FY 2022 is HK$0.75, down 69% from HK$2.44 in FY 2021[6] - The net asset value per share decreased by 5% to HK$54.2 in FY 2022 from HK$56.8 in FY 2021[6] Segment Performance - Laminates Division sales declined by 23% to 96 million sheets, with segment revenue down 32% to HK$19,938.6 million and EBITDA decreasing by 66% to HK$3,119.6 million[16] - The PCBs Division's revenue slightly decreased by 3% to HK$13,183.7 million, while EBITDA showed a mild decrease of 2% to HK$1,726 million[17] - Chemicals Division revenue fell by 15% to HK$13,893.4 million, with EBITDA down 36% to HK$2,804 million due to dropping chemical product prices and rising raw material costs[18] - Property Division revenue surged by 164% to HK$6,261.6 million, driven by a 3.2 times increase in property sales and an 8% rise in rental income[20] Strategic Initiatives - The Group plans to continue market expansion and product portfolio enhancement, particularly in high-end and high-value-added products[16] - The Group's management focused on enhancing production efficiency and reducing energy consumption amid rising costs, achieving better price-performance in laminate products[16] - The Group's diversified business portfolio and vertical value chain helped maintain a robust financial position despite challenging market conditions[11] Investment and Capacity Expansion - The Group invested approximately HK$4.8 billion in new production capacity and HK$1.7 billion in property construction expenses during the period[23] - The new laminates plant in Shaoguan has been fully commissioned, adding strategic capacities to the Group[33] - Monthly capacities of 4,200 tonnes of glass yarn and 1,050 tonnes of copper foil were added in Lianzhou, Guangdong Province[33] - The Group's expansion plans in Thailand aim to support overseas growth and increase capacities for laminates and upstream materials[33] Environmental and Sustainability Efforts - The Group is establishing solar photovoltaic power projects expected to recoup costs within five years while providing long-term benefits[32] - The Hebei acetic acid project aims to capture and recycle 200,000 tonnes of carbon dioxide per year, supporting the Group's green initiatives[32] - The Chemicals Division aims to promote green and low-carbon development through innovation and technology, focusing on high-quality growth with intelligent solutions[39] Corporate Governance - The Company has complied with the Corporate Governance Code throughout the year ended December 31, 2022[130] - The Board recognizes the importance of corporate governance practices for the benefit of stakeholders and shareholders[165] - The Board plans to hold meetings quarterly, with a minimum of four meetings in the coming year[174] - The Company has adopted internal guidelines for matters requiring Board approval[172] Risk Management - The Group faces significant risks including product defects, which could lead to substantial liability claims affecting operations and reputation[56] - The Group's financial condition and business prospects may be adversely affected if it fails to compete effectively in its industry[63] - The Group's operations are subject to various uncertainties that could materially impact its business performance and outlook[61] Shareholder Relations - The Group expressed gratitude to shareholders, clients, banks, management, and employees for their support during the period[43] - The Board will review the dividend policy periodically, considering financial results, distributable reserves, and future development plans[76] - The total amount of retained profits and share premium of the company as of December 31, 2022, was HK$6,686,612,000, down from HK$7,151,279,000 in 2021[105] Human Resources - The Group employed approximately 35,000 staff globally, down from 36,000 the previous year, emphasizing the importance of human resources management[25] - The Group continues to nurture talent through training programs and has recruited several hundred promising graduates annually from mainland China, Hong Kong, and Taiwan[27] Financial Investments - For the year ended December 31, 2022, the Group's investments in securities instruments totaled HK$7,171 million, a decrease from HK$9,577 million in 2021, representing approximately 7% of total assets[80] - The Group's bond portfolio had a fair value of approximately HK$630 million as of December 31, 2022, with a total investment cost of approximately HK$2.36 billion[86] - The Group's investment strategy includes retaining listed bonds to generate stable and fixed interest income[86] Director and Management Information - Mr. Cheung Kwok Wing, aged 67, is the chairman and co-founder of the Group, with over 13 years of experience in electronic components sales prior to establishing the Group[43] - The Group's management team includes experienced professionals with significant industry backgrounds[43] - The Company has arranged appropriate insurance covering liabilities for directors and senior management arising from Group activities[159]