Corporate Governance - The Audit Committee held three meetings this year and reviewed the audited financial statements for the year ending December 31, 2021, and the unaudited interim financial statements for the six months ending June 30, 2022[8]. - The Remuneration Committee is responsible for determining the remuneration of all executive directors and senior management, considering factors such as salary levels in comparable companies and the responsibilities of the positions[9]. - The Nomination Committee reviews the current structure and composition of the board annually, ensuring compliance with regulations and proposing changes as necessary[11]. - The company has adopted a board diversity policy since August 30, 2013, with measurable objectives to enhance diversity within the board[12]. - The group has engaged an external independent consultant for internal audit functions to enhance internal control systems[48]. - The group has adopted a three-year internal audit plan based on risk assessment results, approved by the board and audit committee[48]. Risk Management - The company conducted a group-wide review of risks based on the COSO Enterprise Risk Management framework, preparing a risk report that includes primary risks and related action plans[26]. - The board must consider the company's ability to pay dividends based on accumulated and future profits, liquidity levels, and future obligations[30]. Environmental Impact - The group reported a 10.73% decrease in total greenhouse gas emissions (Scope 1, 2, and 3) to 230.14 metric tons of CO2 equivalent in 2022[58]. - Solid waste decreased by 21.94% to 47.54 metric tons in 2022, indicating effective waste management strategies[60]. - Nitrogen oxides emissions increased by 81.92% to 419.14 kg in 2022 compared to 230.4 kg in 2021[58]. - The group has implemented energy-saving policies at workplaces, focusing on reducing energy consumption and improving efficiency[60]. - The group aims to reduce greenhouse gas emissions by promoting energy-efficient practices among employees[60]. - The company has implemented measures to reduce environmental impact, including energy-efficient lighting and water leak repairs[64][65]. - The group has established recycling initiatives for paper and plastic waste[66]. - The energy consumption for gasoline and diesel in 2022 was 63,370 kWh and 317,600 kWh, reflecting a decrease of 53.78% and an increase of 39.40% respectively compared to 2021[99]. - The total electricity consumption was 305,970 kWh, a decrease of 9.78% from 339,120 kWh in 2021[62]. - Water consumption decreased by 19.15% to 3,817 cubic meters in 2022, down from 4,721 cubic meters in 2021[62]. - The group has implemented measures to reduce environmental impact, including managing greenhouse gas emissions and solid waste[157]. Employee Management - The total workforce in 2022 was 102 employees, a decrease from 121 employees in 2021[70]. - The employee turnover rate for the age group 41-50 years increased by 38.10% in 2022[89]. - The overall employee turnover rate during the reporting period is approximately 8.82%, down from 12.00% in the previous year[109]. - A total of 74 employees, representing 73% of the workforce, participated in training programs, accumulating 569 hours of training, averaging 5.58 hours per employee[118]. - The average training duration per employee is monitored, with a focus on ensuring all employees receive adequate training[144]. - The average training hours for male employees decreased by 12.56% to 6.00 hours, while female employees saw an increase of 49.03% to 3.85 hours[123]. - The company emphasizes the importance of employee health and safety, adhering to relevant laws and regulations in Hong Kong, China, and Singapore[95]. - The company aims to foster a safe culture by providing various training programs to enhance employees' skills and knowledge related to occupational safety and health[97]. - The company encourages employees to participate in external training and seminars to improve their awareness of reporting accidents and potential hazards[97]. - The total number of employees in mainland China decreased by 7.25% to 23 in 2022[84]. Supplier and Procurement Management - The group has reduced its number of suppliers from 195 in 2021 to 140 as of December 31, 2022, with suppliers located in Singapore (81), China (38), Hong Kong (20), and South Korea (1)[125]. - The group emphasizes sustainable procurement practices and aims to minimize negative environmental impacts through continuous communication with suppliers regarding their environmental and social responsibilities[127]. - The group has established strong relationships with suppliers to effectively manage the supply chain and meet market demands[125]. - The group regularly evaluates the performance of product and service suppliers to ensure quality control and compliance with contractual requirements[160]. Compliance and Ethics - The group has maintained compliance with local laws and regulations related to anti-corruption, bribery, fraud, and money laundering, with no legal actions faced due to corruption during the reporting period[133]. - The group has implemented a whistleblowing policy to allow employees to report suspicious activities confidentially, ensuring protection for whistleblowers[132]. - The group is committed to maintaining a discrimination-free work environment and adheres to relevant labor laws prohibiting child and forced labor[145]. - The group has a zero-tolerance policy towards bribery and corruption, ensuring high standards of business ethics and integrity[132]. - The group strictly enforces anti-corruption policies and requires all employees to adhere to professional ethical standards to prevent fraud and bribery[156]. - The group has taken steps to ensure compliance with various local laws and regulations affecting employee rights and workplace safety[138]. Financial Performance - The group's revenue for the year was approximately HKD 200,200,000, a decrease from HKD 214,700,000 in the previous year, representing a decline of about 6.9%[197]. - The group generated a profit of approximately HKD 5,200,000 for the year, compared to HKD 4,000,000 in the previous year, indicating an increase of about 30%[198]. - Total equity as of December 31, 2022, increased to approximately HKD 137,100,000 from HKD 132,200,000 in the previous year, reflecting a growth of about 3.4%[188]. - Other income and gains for the year were approximately HKD 6,100,000, a decrease of about 20.4% compared to the previous fiscal year, primarily due to reduced dividends and investment income from financial assets[200]. - Revenue from the Hong Kong division decreased by approximately HKD 5,500,000 or 12.7%, from HKD 43,100,000 in the previous year to HKD 37,600,000, mainly due to project delays[186]. Community Engagement - The group has committed resources to support community initiatives and encourage employee participation in charitable activities despite facing resource allocation challenges[157]. - The group is focused on enhancing its corporate social responsibility and maintaining harmonious relationships with stakeholders despite challenges posed by the COVID-19 pandemic[134]. Product Quality and Customer Relations - The group emphasizes product safety and quality as a key competitive advantage, ensuring all products meet safety and quality standards before acceptance from suppliers[149]. - The group has established an effective management system for handling customer feedback and complaints, ensuring timely responses and corrective actions[153]. - The group has developed multiple operational manuals to standardize procedures and maintain service quality and consistency[153]. - The group is committed to maintaining high product quality to ensure long-term customer support and trust[151]. - The group has not recognized any impairment provision for the development properties as of December 31, 2022, based on management's analysis of their recoverable amounts[160]. - The value of the group's development properties as of December 31, 2022, is approximately HKD 133,630,000, accounting for about 24% of the total assets[160].
佳兆业资本(00936) - 2022 - 年度财报