Corporate Governance - The company has adopted a compensation policy for directors, CEOs, and senior management, which is reviewed annually and recommended to the board[1]. - The remuneration of non-executive and independent non-executive directors is linked to their responsibilities and contributions to the effective operation of the board[2]. - The company’s board is committed to high standards of corporate governance, regularly reviewing governance guidelines and adhering to the principles of the Hong Kong Stock Exchange[18]. - The board consists of a balanced mix of executive, non-executive, and independent non-executive directors, ensuring no concentration of power[20]. - The company’s remuneration committee held one meeting in 2022, with a 100% attendance rate from all members[12]. - The nomination committee also held one meeting in 2022, with all members attending, ensuring effective board appointments[14]. - The company secretary provides ongoing updates to the board regarding compliance with listing rules and governance practices[6]. - The company emphasizes continuous professional development for all directors to enhance their knowledge and skills[9]. - The board has established a clear separation of roles between the chairman and the CEO to maintain a balance of power[7]. - The board of directors has maintained a 100% attendance rate in all meetings held during the year[24]. - The audit committee held two meetings in 2022, with a 100% attendance rate from all members[117]. - The risk committee was established on April 1, 2016, and held one meeting in 2022 to oversee the company's business and assess its ability to respond to changes in the business and external environment[121][146]. - The board of directors does not recommend the payment of dividends for the year ending December 31, 2022[108]. - The board consists of eight members, including one female director, reflecting a commitment to diversity in skills, experience, and perspectives[115]. - The board has established a clear organizational structure for risk management, ensuring accountability and effective monitoring of risk levels[149]. - The board conducted an annual review of the risk management and internal control systems, concluding they are effective and sufficient[151]. - The company has established service agreements for a term of three years with all directors, ensuring continuity in leadership[185]. Financial Performance - For the year ended December 31, 2022, the group recorded a revenue of HKD 628,672,000, a decrease of 28.4% compared to the previous year[63]. - The group reported a loss of HKD 213,452,000 for the year, compared to a profit of HKD 44,022,000 in the same period last year[64]. - The group recorded a consolidated revenue of HKD 628,672,000 for the year ended December 31, 2022, a decrease of 28.4% from HKD 878,030,000 in the previous year[84]. - Gross profit was HKD 47,418,000 with a gross margin of 7.5%, representing a decline of HKD 102,006,000 and 68.32% compared to the same period last year[91]. - The group reported a net loss of HKD 213,452,000 for the year[84]. - Basic loss per share was HKD 0.2745, compared to earnings of HKD 0.0573 per share in the previous year[91]. - As of December 31, 2022, the group had cash and bank deposits of approximately HKD 593,280,000, down from HKD 849,593,000 a year earlier[92]. - The total equity of the group decreased by 15.3% to HKD 1,642,880,000 from HKD 1,939,591,000 as of December 31, 2021[93]. - The current ratio was approximately 1.10 as of December 31, 2022[93]. - The group has pledged assets totaling HKD 132,437,000 as collateral for general bank credit[95]. - The company reported a total reserve available for distribution to shareholders of approximately HKD 199,491,000 as of December 31, 2022, compared to HKD 214,674,000 in 2021, indicating a decrease of about 7%[132]. Operational Strategies - The group plans to adjust its operational strategies and reduce multiple expenditures to allocate resources appropriately[61]. - The group aims to enhance its decision-making and management capabilities by hiring professionals and high-tech personnel for new environmentally friendly business development[61]. - The group will invest in advanced machinery and equipment to improve production capacity and operational strategies[61]. - The group continues to conduct business transactions primarily in HKD, USD, and RMB, with no significant difficulties from foreign exchange fluctuations[66]. - The group will announce updates regarding the construction progress of the "Huayangnian Xuhui Haoshiguang Community Renewal Project" in Shenzhen upon receipt of the relevant properties[60]. - Approximately HKD 43,003,000 was spent on acquiring production and other equipment during the year[198]. Risk Management - The company has established a risk management system with key features aimed at ensuring effective risk management and internal controls[122]. - The company identified several key risks affecting its strategic goals and has implemented remedial measures to keep these risks at acceptable levels[149]. - The group emphasizes employee health and safety, ensuring a safe working environment with no work-related injuries reported during the reporting period[180]. - The group conducts long-term quality monitoring and regular inspections of all suppliers to maintain product quality[181]. - The group strictly adheres to national laws and regulations, maintaining a policy against bribery and corruption[195]. Environmental Initiatives - The company actively fulfills its social responsibilities and implements environmental protection measures to reduce harmful waste[129]. - The company has actively promoted environmental protection initiatives, including paper-saving practices and encouraging water conservation among employees[155]. - Water consumption for the year ended December 31, 2022, was 384 cubic meters, an increase from 281 cubic meters in 2021, representing a 36.7% increase[156]. - Electricity consumption decreased to 85,448 kWh in 2022 from 95,472 kWh in 2021, reflecting a reduction of 10.6%[156]. - Paper consumption increased to 920 kg in 2022 from 875 kg in 2021, marking a rise of 5.1%[156]. - The company reported a significant reduction in water consumption per ton sold, decreasing to 4.68 cubic meters per ton in 2022 from 4.18 cubic meters per ton in 2021[158]. - Total electricity consumption per ton sold was stable at 681 kWh per ton in 2022, slightly down from 682 kWh per ton in 2021[158]. Shareholder Communication - The company has maintained effective communication with shareholders, providing timely updates on its annual and interim results as per listing rules[173]. - The group has a significant public float, ensuring ample liquidity in the market[194]. - The company has a robust employee compensation policy based on performance, qualifications, and capabilities[192]. - The company has established a qualified supplier list to ensure procurement only from approved suppliers[181].
世界(集团)(00713) - 2022 - 年度财报