Financial Performance - The group reported a total revenue of approximately HKD 2,338,000 for the acquisition of properties, plants, and equipment during the year, compared to HKD 1,226,000 in the previous year[21]. - The group reported a net loss of HKD 45,489,000 for the year ended December 31, 2022, and a net cash outflow from operating activities of HKD 44,447,000[186]. - As of December 31, 2022, the group's current liabilities and total liabilities were HKD 1,035,328,000 and HKD 1,053,132,000, respectively, indicating significant uncertainty regarding the group's ability to continue as a going concern[186]. Dividend Policy - The group did not recommend any dividend distribution for the year ended December 31, 2022[8]. - The board considers various factors, including operational performance and financial condition, when deciding on future dividend payments[170]. - The company will continue to review its dividend policy and reserves the right to update or amend it at any time[176]. - The board of directors has adopted a dividend policy effective from January 1, 2019, to guide the declaration and payment of dividends[167]. Corporate Governance - The company has complied with the corporate governance code, with some deviations noted[42]. - The board emphasizes the importance of maintaining high standards of corporate governance to enhance shareholder value[40]. - The independent non-executive directors have confirmed their independence in accordance with the listing rules[36]. - The board consists of eight directors, with three being independent non-executive directors, ensuring over one-third independence[87]. - The company has established mechanisms to ensure the board receives independent views and opinions[87]. - The nomination committee conducted a thorough due diligence process and recommended the appointment of Mr. Zhang Qi as an executive director and Mr. Zhang Zhaogang and Ms. Chen Si as non-executive directors[94]. - The company has established a shareholder communication policy to ensure effective communication with shareholders and stakeholders[178]. Risk Management and Internal Controls - The internal audit department conducted a selective review of the effectiveness of the risk management and internal control systems across major subsidiaries in operational, financial, and compliance monitoring[164]. - The audit committee assessed the effectiveness of the internal control systems and risk management processes[156]. - The group has implemented policies and procedures to assess and improve the effectiveness of its risk management and internal control systems[164]. - The audit committee oversees the investigation of whistleblowing cases and reports findings to the board[160]. Stakeholder Relationships - The group emphasizes the importance of stakeholder relationships, including employees, customers, suppliers, and shareholders, for its success[13]. - The group has a strong focus on providing a fair and competitive compensation structure for its employees[14]. - The group maintains a whistleblowing policy to allow employees, customers, suppliers, and other stakeholders to report any actual or suspected misconduct[160]. Board Composition and Diversity - The board of directors consists of three executive directors, two non-executive directors, and three independent non-executive directors, providing a diverse range of business and professional expertise[53]. - The board currently has one female director, representing 12.5% of the board, and 37.5% of independent non-executive directors[117]. - The company promotes diversity at all levels of the employee team, ensuring equal training and career development opportunities[117]. - The nomination committee will continue to monitor the implementation of the board diversity policy annually[117]. Environmental and Social Responsibility - The group has established multiple environmental protection policies aimed at reducing emissions and conserving energy[10]. - The Audit Committee reviewed the environmental, social, and governance reports published on the stock exchange and the company's website[144]. Audit and Financial Reporting - The company has engaged Hong Kong Lixin Dehao CPA Limited as its auditor, which will be reappointed at the upcoming annual general meeting[37]. - The company is committed to preparing true and fair consolidated financial statements in accordance with Hong Kong Financial Reporting Standards and the Companies Ordinance[194]. - The auditor evaluates the appropriateness of accounting policies adopted by the board and the reasonableness of accounting estimates and related disclosures[196]. - The consolidated financial statements are prepared based on the going concern assumption unless there is an intention to liquidate or cease operations[194].
华联国际(00969) - 2022 - 年度财报