Corporate Governance - The company held four regular board meetings and two shareholder meetings during the year ended December 31, 2022[1]. - The audit committee consists of three independent non-executive directors, ensuring strong oversight of financial reporting and compliance[10]. - The nomination committee is composed of four members, including three independent non-executive directors, ensuring adherence to corporate governance standards[3]. - The company has established a whistleblowing policy to encourage reporting of fraud, misconduct, and improper behavior, which is crucial for effective risk management[17]. - The company has implemented a zero-tolerance policy towards corruption, fraud, and other serious violations of professional ethics[96]. - The company has a whistleblowing policy to protect whistleblowers from common concerns such as confidentiality and retaliation[97]. Financial Performance - The group recorded a revenue increase of 27% to $12,372,000 for the fiscal year ending December 31, 2022, compared to $9,738,000 in 2021, primarily driven by the growth in the shipping business[47]. - The shipping business achieved a revenue growth of 35% to $12,079,000 in the fiscal year 2022, with a profit increase of 38% to $5,436,000, up from $3,938,000 in 2021[47]. - The company reported a pre-tax profit of $1,123 thousand for fiscal year 2022, down from $10,488 thousand in 2021, showing a decline of approximately 89%[140]. - The company’s basic earnings per share for fiscal year 2022 was $0.10, a decrease from $0.96 in 2021, indicating a decline of about 90%[140]. - The total administrative expenses for fiscal year 2022 were $1,335 thousand, compared to $1,523 thousand in 2021, showing a reduction of approximately 12%[140]. - The company recorded a net impairment loss of $797 thousand for vessels in fiscal year 2022, a significant decrease from $13,430 thousand in 2021[140]. - Total revenue for the fiscal year 2022 was $12,372 thousand, an increase from $9,738 thousand in 2021, representing a growth of approximately 27%[140]. - Marine revenue for the fiscal year 2022 was $12,079 thousand, compared to $8,976 thousand in 2021, indicating a growth of about 34%[140]. Risk Management - The company maintains a robust risk management and internal control system, with no significant weaknesses identified as of December 31, 2022[16]. - The company has established a crisis response plan to mitigate the negative impacts of extreme weather events on operations[105]. - The company anticipates stricter climate legislation and regulations to support global carbon neutrality, which may increase capital investment and compliance costs[74]. - The company did not experience significant foreign exchange risk during the fiscal year 2022, as its monetary assets and liabilities are primarily denominated in USD or HKD[189]. Environmental, Social, and Governance (ESG) Initiatives - The company aims to enhance its environmental, social, and governance (ESG) performance through dedicated personnel overseeing related policies and strategies[27]. - The group has set environmental goals related to greenhouse gas emissions, waste management, energy consumption, and water usage to mitigate its environmental impact[35]. - The group has established effective management policies and internal controls to address significant environmental, social, and governance issues[34]. - The group’s operations did not generate any direct greenhouse gas emissions during the fiscal year 2022, as all owned vessels were leased out[37]. - The total greenhouse gas emissions density increased by approximately 28.57% from about 0.007 tons per employee in the fiscal year 2021 to about 0.009 tons per employee in the fiscal year 2022, primarily due to increased business activities[67]. - The company aims to reduce total greenhouse gas emissions density by 10% by the end of the fiscal year 2026, using the fiscal year 2021 as the baseline[62]. - The company has set up recycling bins to collect recyclable materials as part of its waste management strategy to achieve its sustainability goals[67]. - The company is committed to maintaining transparency in its environmental, social, and governance (ESG) reporting to build trust with investors[75]. - The company has committed to optimizing resource usage and tracking key performance indicators related to environmental, social, and governance aspects[100]. - The company emphasizes the importance of environmental and safety performance in its operations and maintains close communication with suppliers to address service issues[152]. Employee Development and Diversity - The gender ratio of employees, including senior management, was 1:1 as of December 31, 2022, indicating gender diversity within the workforce[5]. - The company emphasizes the importance of a diverse workforce and is dedicated to providing equal opportunities in employment[82]. - The company actively provides career development opportunities for employees through internal and external training programs[85]. - The average training hours per employee increased to 36.56 hours in fiscal year 2022 from 24.75 hours in 2021, reflecting a significant improvement in employee training[118]. - In the fiscal year 2022, the total number of trained employees was calculated as a percentage of the total number of employees at the end of the reporting period[87]. - The average training hours by category were calculated based on the training hours of specific category employees divided by the number of employees in that category at the end of the reporting period[88]. Operational Insights - The company is primarily engaged in shipping, investment holding, property holding and investment, and commodity trading, with a focus on electronic components trading[26]. - The company has three super handy-sized vessels with a total carrying capacity of approximately 171,000 deadweight tons, and is exploring opportunities to acquire second-hand vessels as market conditions show signs of easing[48]. - The company plans to continue its strategy of acquiring a second-hand dry bulk vessel, potentially including Panama-type vessels with higher carrying capacity[48]. - The crew expenses for the year amounted to $2,679,000, an increase from $1,892,000 in the previous year[193]. - The company continues to monitor market conditions closely for potential vessel acquisitions and will update shareholders on any developments[187]. Financial Position - As of December 31, 2022, total equity amounted to $61,138,000, a decrease from $61,452,000 in 2021, reflecting a reduction of approximately 0.51%[171]. - Non-current liabilities decreased significantly from $4,878,000 in 2021 to $756,000 in 2022, indicating a reduction of approximately 84.5%[171]. - Cash and cash equivalents decreased from $7,640,000 at the beginning of the year to $2,201,000 at year-end, representing a decline of approximately 71.2%[175]. - The company reported a net cash outflow from financing activities of $(7,050,000) in 2022, compared to $(6,441,000) in 2021, reflecting an increase of approximately 9.5%[175]. - The total liabilities and equity amounted to $66,455,000 as of December 31, 2022, down from $72,451,000 in 2021, a decrease of approximately 8.2%[171]. Compliance and Legal Matters - There were no significant violations of relevant laws and regulations that had a major impact on the company during the fiscal year 2022[61]. - The company has no significant contingent liabilities or capital commitments as of December 31, 2022[190]. - A deposit of $1,006,000 was paid to the Singapore Supreme Court related to a claim from another vessel's owner, which is expected to be refunded after the case is resolved[191].
勇利投资(01145) - 2022 - 年度财报