Financial Performance - The total revenue for the fiscal year ending June 30, 2022, was approximately HKD 471,521,000, an increase of 8.9% compared to HKD 433,049,000 in the previous year[7]. - The loss attributable to shareholders for the year was approximately HKD 102,218,000, compared to a profit of HKD 156,346,000 in the previous year, resulting in a loss per share of HKD 0.043[7]. - The wire and cable segment generated revenue of approximately HKD 300,238,000, a 7.6% increase from HKD 278,995,000 in the previous year, accounting for 63.7% of total revenue[8]. - The copper rod business reported revenue of approximately HKD 157,847,000, a 12.5% increase from HKD 140,300,000 in the previous year, representing 33.5% of total revenue[8]. - Revenue from rental income was approximately HKD 13,436,000, a decrease of 2.3% from HKD 13,754,000 in the previous year, accounting for 2.8% of total revenue[14]. - Revenue from the Americas increased by 15.0% to approximately HKD 44,677,000, while revenue from mainland China and Hong Kong rose by 7.0% to approximately HKD 327,313,000, representing 69.4% of total revenue[9]. - European revenue increased by 22.3% to approximately HKD 75,413,000, accounting for 16.0% of total revenue[9]. Investment and Capital Management - The company has adopted a cautious approach to its investment plans in Mongolia due to global inflation and tightening monetary policies, with no large-scale capital investments initiated during the year[15]. - No significant investments or capital asset sales were made during the review year, and there are no current plans for major investments[35]. - The estimated net proceeds from the sale, after deducting transaction costs, are expected to be approximately HKD 51.5 million, which will be used to repay outstanding loans[112]. - The company aims to enhance liquidity and reduce future interest expenses through this transaction[111]. Corporate Governance - The board of directors is committed to maintaining good corporate governance practices, which are essential for effective management and enhancing shareholder value[122]. - The company has adopted the principles outlined in the Listing Rules Appendix 14 and has complied with all code provisions, except for specific deviations noted[123]. - The company will continue to review its corporate governance structure to assess the need for separating the roles of chairman and CEO[132]. - The company provided appropriate liability insurance for directors and senior management against legal actions arising from corporate activities[138]. - The company aims to comply with governance code provisions regarding the tenure of independent non-executive directors[140]. Employee and Talent Management - The company recognizes employees as valuable assets and provides competitive compensation to attract and retain talent[43]. - The company employed approximately 400 staff as of June 30, 2022, down from 500 the previous year[93]. - The company has adopted a mandatory provident fund plan for its Hong Kong employees, with contributions set at 5% of relevant income, capped at HKD 30,000 per month[95]. Risk Management and Compliance - The risk management and internal control systems are deemed adequate and effective by the board, following a thorough review[166]. - The company engaged an external independent consultant to review the effectiveness of its risk management and internal control systems, focusing on financial, operational, and compliance matters[166]. - The company adopted an anti-corruption policy effective from April 8, 2022, outlining principles and guidelines to promote compliance with anti-corruption laws and regulations[184]. - The whistleblowing policy was established to allow employees and stakeholders to report concerns about misconduct confidentially and anonymously, effective from April 8, 2022[188]. Shareholder Engagement - The company encourages shareholder participation in meetings to ensure accountability and transparency regarding its strategies and objectives[171]. - Shareholders holding at least 10% of the voting rights can request a special general meeting within two months of their request[172]. - The board will review the dividend policy periodically to ensure it aligns with the company's financial performance and strategic goals[178]. Future Outlook and Strategy - The company plans to continue monitoring market conditions closely and adjust its strategies accordingly in response to economic fluctuations[15]. - The modern factory construction in Dongguan is expected to be completed in the coming year, which is anticipated to generate new revenue for the group[17]. - The group aims to optimize and integrate existing businesses while actively seeking potential business partners and new growth opportunities to diversify and sustain revenue sources[17].
星凯控股(01166) - 2022 - 年度财报