Environmental Management - The company aims to systematically manage ESG matters through the establishment of an ESG working group, which is responsible for collecting and analyzing ESG data, monitoring performance, and ensuring compliance with relevant laws and regulations [10]. - The company plans to reduce greenhouse gas emissions intensity by a certain percentage over the next five years, using the fiscal year 2021 as the baseline [17]. - The company is committed to enhancing its environmental management strategy by regularly monitoring the environmental impact of its operations and minimizing it [19]. - The company has implemented measures to reduce unprocessed organic gas emissions from its spray painting operations [21]. - The company’s greenhouse gas emissions primarily come from fuel consumption by vehicles and fixed machinery, purchased electricity, and business travel, with ongoing efforts to mitigate these emissions [22]. - The total amount of hazardous waste generated by the company increased compared to the fiscal year 2021, reflecting the resumption of normal operations in Vietnam after the end of government lockdowns [27]. - The total water discharge for the fiscal year 2022 was 79,317.37 cubic meters, an increase from 75,725.16 cubic meters in the fiscal year 2021 [31]. - The company consumed 4,526.00 liters of LPG in the fiscal year 2022, up from 2,577.00 liters in the fiscal year 2021 [52]. - The company has implemented a waste management plan to control household and non-hazardous industrial waste, ensuring proper storage, classification, and recycling [25]. - The company has adopted a rainwater and wastewater separation system to prevent pollution of surrounding water bodies [31]. - The company has established policies to adapt to and mitigate climate-related risks, incorporating these risks into its enterprise risk management procedures [59]. - The company has upgraded air compressors to variable speed models to reduce energy consumption [29]. - Total direct energy consumption for the fiscal year 2022 was 4,107.58 MWh, an increase of 21.5% from 3,380.28 MWh in 2021 [150]. - Total indirect energy consumption was 30,946.76 MWh, a decrease of 1.8% from 31,510.94 MWh in 2021 [150]. - Total energy consumption increased to 35,054.34 MWh in 2022, up from 34,891.22 MWh in 2021, representing a growth of 0.5% [150]. - The company aims to reduce environmental impact through various policies and practices, including energy-saving measures [164]. - Freshwater consumption for the fiscal year 2022 was 95,356.41 cubic meters, a decrease of 2.4% from 97,696.59 cubic meters in 2021 [174]. - The total water consumption density was 0.16 cubic meters per $1,000 in 2022, down from 0.20 in 2021 [174]. Employee Management and Development - The total number of employees as of December 31, 2022, was 4,638, a decrease from 5,437 in the previous fiscal year, representing a reduction of approximately 14.7% [87]. - The employee turnover rate for the fiscal year 2022 was calculated based on 2,181 employees leaving, compared to 2,410 in the previous fiscal year, indicating a significant change in workforce dynamics [91]. - The company provided various insurance plans to employees, including social insurance, life insurance, health and dental insurance, and workers' compensation insurance, in compliance with local laws [71]. - The average training hours per employee category were reported, with male employees receiving an average of 0.30 hours and female employees receiving 0.19 hours in the fiscal year 2022 [80]. - The employee distribution by gender showed 58% male and 42% female in the fiscal year 2022, with a slight increase in female representation from 41% in the previous year [80]. - Senior management comprised 1% of the total workforce, while management personnel accounted for 11%, indicating a stable management structure [80]. - The company emphasized the importance of maintaining a safe and healthy work environment, implementing safety management measures to mitigate occupational health and safety risks [72]. - The company has established various communication channels for employees to express opinions, suggestions, and complaints, fostering a culture of open communication [69]. - The company is committed to creating an inclusive workplace culture, strictly prohibiting discrimination based on race, religion, gender, and other factors [71]. - The company has implemented emergency response procedures to minimize risks to employees in case of emergencies such as fires or chemical spills [76]. - The average training hours for employees decreased in fiscal year 2022 compared to fiscal year 2021 due to delays in training programs caused by the pandemic [102]. - In fiscal year 2022, 6 employees lost a total of 185 workdays due to work-related injuries, a decrease from 10 employees and 536 lost workdays in fiscal year 2021 [97]. - The company has established a comprehensive occupational health and safety management system to pursue a zero-injury work environment [97]. - The company provides regular health checks for employees to facilitate the early detection of occupational diseases [99]. - The company is focused on enhancing employee training and development, with key performance indicators related to training participation and average training hours per employee [181]. Corporate Governance and Compliance - The company has established a shareholder communication policy to ensure effective responses to shareholder concerns and feedback [7]. - The company’s annual general meeting serves as a primary platform for communication between the board and shareholders, allowing for direct engagement and inquiry responses [5]. - The company has disclosed all necessary information to shareholders in accordance with listing rules, ensuring transparency and timely responses to inquiries [5]. - The board of directors is responsible for fulfilling the functions outlined in the Corporate Governance Code [115]. - The group has implemented a quality control unit to ensure high product quality standards, which is crucial for sustainable development [132]. - The group has established a policy to ensure suppliers compete in a transparent and fair manner, prohibiting any form of corruption or bribery [131]. - The group has a zero-tolerance policy towards corruption, fraud, and bribery, requiring all employees to adhere to integrity principles [138]. - The group has conducted approximately 7 hours of anti-corruption training for directors and 4 hours for employees in the fiscal year 2022 [114]. - The company has implemented a strict supplier selection system, prioritizing local suppliers and those using environmentally friendly products and services [106]. - The company has a policy prohibiting child labor and forced labor, ensuring compliance with local laws and regulations during the recruitment process [103]. - The group emphasizes the protection of customer confidential data and has established a code of ethical business conduct and social media policy to regulate the collection and use of customer data [112]. - In the fiscal year 2022, the group did not encounter any significant legal violations related to corruption, bribery, or money laundering, maintaining high standards of business conduct [114]. - The company has established a whistleblowing system to encourage employees to report fraudulent activities without fear of retaliation, ensuring accountability and transparency [191]. Financial Performance - The company reported a total distributable reserve of $150.829 million for 2022, an increase from $137.596 million in 2021, reflecting a growth of approximately 9.0% [175]. - The company proposed a final dividend of HK$0.01 per share, amounting to approximately HK$30.3 million (around $3.9 million), subject to shareholder approval at the upcoming annual general meeting [189]. - The cumulative losses decreased to $(35.407) million in 2022 from $(48.562) million in 2021, indicating an improvement in financial health [175]. - The company maintained its paid-in surplus at $80.186 million for both 2021 and 2022, indicating stability in this financial metric [175]. - The company’s total assets and liabilities details are available in the financial statements, reflecting its operational scale and financial position [175]. - The company repurchased 81,659,000 shares at a total cost of $4,005,000 (approximately HKD 31,325,000) during the year [155]. - The company repurchased a total of 81,659,000 shares during 2022, with a total cost of HK$31.325 million [177]. - The highest share price during the repurchase was HK$0.485, while the lowest was HK$0.270, showing a range of 79.6% in share price fluctuations [177]. - The primary market for the company’s products is the United States, where a decrease in demand for home furniture and economic fluctuations could adversely impact operational performance [190]. - The company faces competition not only from U.S. furniture companies but also from importers sourcing furniture from Southeast Asia, affecting product design, production costs, and customer service [190]. Product Quality and Customer Relations - In the fiscal year 2022, the company reported a total of 5,100 units sold for a product that was recalled in the United States, with a full refund offered to consumers [111]. - The company received 67 complaints related to products and services in fiscal year 2022, a significant increase from 20 complaints in the previous fiscal year [111]. - The company has a customer complaint process in place to professionally handle feedback and complaints, aiming to improve service and product quality [111]. - The group has adopted strict safety standards to ensure product safety and has obtained relevant safety inspection reports for all production processes [134]. - The group emphasizes the importance of appropriate advertising and labeling, ensuring compliance with relevant laws and regulations [137].
顺诚(00531) - 2022 - 年度财报