Financial Performance - The company reported a consolidated income of $XX million for the fiscal year, representing a YY% increase compared to the previous year[61]. - The Group recorded an audited consolidated turnover of HK$1,177,827,000 for the year ended 30th June 2023, a 32.3% decrease from HK$1,738,775,000 in 2022[39]. - Loss per share for the year was HK14.09 cents, down from earnings per share of HK15.33 cents in 2022[39]. - Loss attributable to equity holders of the Company was HK$52,007,000, compared to a profit of HK$56,598,000 in the previous year[39]. - Overall gross profit declined by 51.3% year-on-year to HK$147,704,000, with a gross profit margin narrowing by 4.9 percentage points to 12.5%[45]. - Turnover from the plastic trading business dropped by 32% year-on-year to HK$747,248,000, with a loss before taxation of HK$70,704,000[51]. - The turnover of the colorants, pigments, and compounded plastic resins business fell by 17.8% year-on-year to HK$292,047,000[49]. - The engineering plastic business saw a 51.4% decline in turnover to HK$138,532,000, with profit before taxation plummeting 85.9% to HK$6,535,000[52]. Market Outlook and Strategy - The company provided a future outlook, projecting a revenue growth of BB% for the next fiscal year[191]. - The company plans to expand its market presence in Southeast Asia, targeting a market share increase of DD% by 2025[69]. - The Group plans to adopt "Three New Strategies" focusing on new materials, new customers, and new markets to drive corporate transformation and upgrade[53]. - The Group is actively exploring new customer sources in industries such as photovoltaic and new energy vehicles to expand its business footprint[58]. - The Group is considering partnerships in the ASEAN market to capture market share with high-quality raw materials[59]. Operational Efficiency and Cost Management - The company has implemented new operational strategies aimed at reducing costs by FF%, improving overall efficiency[69]. - The gross profit margin improved to GG%, up from HH% in the previous year, indicating better cost management[61]. - The Group's credit policy includes regular monitoring of trade debtors to minimize credit risk[83]. - The Group has implemented a credit policy to minimize credit risk associated with counterparties failing to fulfill their obligations[88]. Sustainability and Corporate Responsibility - The board of directors emphasized a commitment to sustainability, aiming for a reduction in carbon emissions by JJ% over the next five years[69]. - The Group aims to develop sustainable materials and promote environmentally friendly projects, having obtained ISCC PLUS certification for its subsidiaries[57]. - The Group is actively pursuing sustainable material development and has obtained ISCC PLUS certification for its subsidiary[60]. - The Group emphasizes corporate social responsibility, conducting various activities to support employees, the community, and the environment during the year[96]. Governance and Management - The Company has complied with all applicable code provisions of the Corporate Governance Code throughout the year ended June 30, 2023, except for the separation of roles between chairman and chief executive officer[184][185]. - The Board of Directors held a total of three regular meetings, three ad-hoc meetings, and one general meeting during the year[191]. - The Audit Committee comprises three Independent Non-executive Directors and has reviewed the annual financial statements for the year ended June 30, 2023[171]. - The Board composition meets Rule 3.10A of the Listing Rules, ensuring at least one-third of members are independent non-executive Directors[195]. - The Company has a balanced board structure to ensure strong independence and effective governance[195]. Shareholder Information - As of June 30, 2023, no substantial shareholders owning 5% or more of the Company's issued share capital were reported, aside from the interests of Directors and chief executives[165]. - The Company maintains a register of substantial shareholders as required under Section 336 of Part XV of the SFO[165]. - The largest supplier accounted for 34% of the Group's purchases, while the five largest suppliers combined represented 77%[169]. - The aggregate percentage of sales attributable to the Group's five largest customers is less than 13% of total sales for the year ended June 30, 2023[169].
毅兴行(01047) - 2023 - 年度财报