Financial Performance - The Group's revenue for the year ended 30 September 2021 was approximately HK$643,446,000, representing an increase of approximately 18.3% compared to HK$543,968,000 for the year ended 30 September 2020[12]. - The net profit for the year ended 30 September 2021 was approximately HK$41,463,000, a decrease of approximately 26.0% from HK$56,018,000 for the previous year[12]. - The gross profit for the year ended 30 September 2021 was approximately HK$196,675,000, remaining relatively stable compared to approximately HK$190,653,000 for the year ended 30 September 2020[21]. - The increase in revenue was primarily driven by contributions from all regions for the year ended 30 September 2021[21]. - Administrative expenses increased by approximately 14.0% to HK$89,161,000 for the year ended 30 September 2021, up from HK$78,186,000 in the previous year[30]. - Selling and distribution costs remained stable at approximately HK$44,663,000 for the year ended 30 September 2021, compared to approximately HK$47,193,000 in the previous year[29]. Dividends - The Board declared a 2021 interim dividend of HK2.7 cents per ordinary share, with a final dividend of HK2.3 cents and a special dividend of HK0.5 cents recommended, totaling HK5.5 cents for the year[13]. - The Company has adopted a dividend policy to allow shareholders to participate in profits while retaining adequate reserves for future growth[151]. - The Board will consider factors such as actual and expected financial performance, available surplus, and working capital when declaring dividends[154]. - The Company does not have a pre-determined dividend distribution ratio, and past dividend records may not be used as a reference for future dividends[154]. - Any final or special dividends must be approved by Shareholders at a general meeting and cannot exceed the amount recommended by the Board[154]. - The Company reserves the right to update or modify its Dividend Policy at any time without it constituting a legally binding commitment[154]. Borrowings and Financial Ratios - The Group had interest-bearing bank borrowings of approximately HK$37,798,000 as of 30 September 2021, an increase from approximately HK$33,880,000 in the previous year[46]. - The Group's gearing ratio as of September 30, 2021, was approximately 9.6%, compared to approximately 9.2% as of September 30, 2020[53]. - The current ratio of the Group improved to approximately 3.1 as of September 30, 2021, up from approximately 2.6 as of September 30, 2020[53]. - The Group had restricted bank deposits of approximately HK$17,328,000 as of September 30, 2021, compared to approximately HK$6,725,000 as of September 30, 2020[53]. Operational Outlook - The short to medium-term outlook remains uncertain due to the ongoing effects of the epidemic, making sales performance predictions for 2022 challenging[42]. - The medium to long-term outlook is stable, with expected growth in sales driven by increasing global demand for footwear and stringent quality requirements for adhesives[43]. - The Group will continue to monitor working capital management closely and adjust business strategies as needed in response to market developments and the epidemic[45]. - The Group plans to adjust its business strategies as necessary in response to developments in the footwear manufacturing industry and the ongoing impact of the pandemic[48]. Corporate Governance - The Company complied with all applicable code provisions of the Corporate Governance Code as of 30 September 2021, except for one deviation related to the "Chairman and Chief Executive" section[64]. - The Board is responsible for corporate policy formulation, business strategic planning, and risk management, among other significant operational and financial matters[64]. - The Board currently comprises seven members, including four executive Directors and three independent non-executive Directors[69]. - The Group has established various Board Committees to delegate responsibilities for corporate governance duties[66]. - The Company has arranged for appropriate insurance cover for Directors' and officers' liabilities arising from corporate activities[68]. Environmental, Social, and Governance (ESG) Initiatives - The Group aims to provide reliable, consistent, and comparable ESG information to stakeholders[168]. - The Group established an Environmental, Social and Governance Working Group to manage ESG issues and performance, with its first meeting held on September 9, 2021[1]. - The Group's environmental management system has been accredited with ISO 14001:2015 certification, ensuring compliance with environmental standards[188]. - The Group is committed to improving internal data collection procedures and gradually expanding the scope of disclosure[172]. - The Group aims to enhance stakeholder engagement through various channels, including annual reports and meetings[1]. Emission Reduction and Environmental Compliance - The Group aims to reduce all emissions, including air pollutants and greenhouse gases, by 3% compared to the reporting period before 2026[188]. - The Group adheres strictly to national and local air emission standards, ensuring compliance with various environmental laws[190]. - Continuous education and training on occupational safety and environmental protection are provided to employees and customers[188]. - The Group is dedicated to the research and development of ecologically sound and occupationally safe products[188]. - Significant decrease in air emissions was noted due to the transition from a company-owned vehicle fleet to outsourced transportation services[198].
星谦发展(00640) - 2021 - 年度财报