Financial Performance - For the fiscal year ended June 30, 2022, the Group's consolidated revenue increased by approximately HK$67.6 million or 12.6% from HK$536.3 million to HK$603.9 million[20]. - Profit attributable to owners of the Company decreased to HK$12.1 million from HK$19.9 million in the previous year, primarily due to an increase in impairment loss on mining rights of HK$21.9 million and an exchange loss of HK$3.3 million[20]. - The basic earnings per share for the year was HK$1.78, down from HK$2.91 in 2021[20]. - The jewellery segment's revenue increased by approximately HK$65.8 million or 12.5% from HK$526.4 million to HK$592.2 million for the fiscal year[23]. - The jewellery segment's profit increased by approximately HK$1.4 million or 4% to HK$35.6 million compared to HK$34.2 million in the previous year[23]. - The significant decrease in subsidies received from various governments related to the COVID-19 pandemic impacted overall profitability[20]. Operational Developments - The Group's fully-integrated production plant in China employed around 336 staff as of June 30, 2022[14]. - The Group benefited from market consolidation post-COVID-19, strengthening relationships with customers and enhancing competitive advantages[23]. - The overseas sales team resumed travel to visit clients and actively participated in major exhibitions during the year[23]. - The Group's online sales demand continued to grow, leading to closer collaboration with customers for timely delivery and necessary technical support[23]. - The jewellery business maintained a positive performance, but faces uncertainties due to macroeconomic headwinds and potential new COVID-19 variants[33]. Property and Investments - Rental income revenue amounted to approximately HK$8.3 million, an increase of HK$2.8 million from HK$5.5 million in 2021, primarily due to the acquisition of properties in May 2021[29]. - The Group holds 75% interest in a newly developed commercial building named "One Continental," which has a gross floor area of approximately 86,970 sq. ft.[29]. - The Group acquired six properties in December 2021, with a site area of approximately 5,054 sq. ft. and a developable gross floor area of approximately 25,270 sq. ft.[31]. - The Group's investment properties are fully let, generating stable rental income despite the pandemic[31]. Financial Position - Cash and cash equivalents decreased to HK$144,008,000 as of June 30, 2022, down from HK$340,207,000 in 2021[43]. - Bank loans increased to HK$1,027,421,000 as of June 30, 2022, compared to HK$836,210,000 in 2021[43]. - The Group's gearing ratio as of 30 June 2022 was 0.2903, an increase from 0.1996 in 2021[43]. - The Group's total borrowings, including amounts due to joint ventures and related companies, were approximately HK$117,216,000 as of 30 June 2022[43]. Governance and Management - The Company has adopted the Corporate Governance Code provisions effective from January 1, 2022, applicable to the financial year commencing on that date[129]. - During the year ended June 30, 2022, the company complied with the Corporate Governance Code, with some deviations noted in specific provisions[130]. - The Board held four meetings during the financial year ended June 30, 2022, with individual attendance rates for directors documented[135]. - The Company has arranged Directors and Officers Liability Insurance for its Directors and Officers[139]. - The Board is required to have a balanced composition of Executive and Non-executive Directors to ensure independent judgment[145]. Share Options and Dividends - The proposed final dividend will be paid on or about January 13, 2023, subject to shareholder approval at the AGM on December 5, 2022[30]. - The Register of Members will be closed from December 9 to December 13, 2022, for determining entitlement to the proposed final dividend[30]. - All share transfer documents must be lodged by 4:30 p.m. on December 8, 2022, to qualify for the proposed final dividend[30]. - As of June 30, 2022, there were 12,200,000 share options valid and outstanding under the 2010 Share Option Scheme after share consolidation[60]. Risk Management - The company has confirmed no significant weaknesses in its risk management and internal control systems[200]. - The Board requires management to maintain effective risk management and internal control systems[200]. - The Audit Committee regularly reviews the effectiveness of the Group's internal control systems and risk management[200]. - The Board will review the need for an internal audit function on an annual basis[200].
恒和集团(00513) - 2022 - 年度财报