Financial Performance - The company's revenue for the year increased to approximately RMB 74.5 million, representing a 126% increase compared to RMB 32.96 million in the previous year[7]. - Gross profit for the year was approximately RMB 22.7 million, up from RMB 11.7 million in the previous year[14]. - The pre-tax loss decreased to approximately RMB 10.1 million from RMB 13.13 million in the previous year[14]. - The loss attributable to equity holders of the company was approximately RMB 23.1 million, compared to RMB 10.82 million in the previous year[14]. - The basic loss per share for the year was RMB 0.80, compared to RMB 0.37 in the previous year[14]. - The total equity of the group decreased to RMB 126.0 million[7]. - The property development, leasing, and management services segment recorded a profit of approximately RMB 16,960,000 for the year, compared to RMB 6,928,000 in 2022, reflecting significant growth[18]. - The gold mining segment reported a loss of approximately RMB 19,136,000 for the year, compared to a loss of RMB 343,000 in 2022, indicating a substantial decline in performance[20]. - Revenue from operations outside mainland China and Russia increased to RMB 74,542,000, up from RMB 32,614,000 in 2022, demonstrating growth in international sales[21]. - As of June 30, 2023, the company had cash and cash equivalents of approximately RMB 63,469,000, compared to RMB 29,643,000 in 2022, indicating improved liquidity[28]. - The company's asset-liability ratio was 0.07% as of June 30, 2023, a significant decrease from 27.81% in 2022, reflecting a stronger financial position[29]. Business Expansion and Strategy - The company expanded its property management services to Shenzhen and Huizhou, managing a total area of approximately 3,050,000 square meters[10]. - The acquisition of 51% stakes in Shenzhen Hailian and Huizhou Peninsula No. 1 was completed for RMB 15.5 million, with guaranteed net profit achieved[15]. - The company expects the Xuzhou project to continue generating positive cash flow[9]. - The group believes that selling its gold mining business will provide opportunities to allocate resources to develop other existing businesses[11]. - The company plans to seek potential acquisition projects to expand its management services business in the Greater Bay Area of China[27]. - The company anticipates that the Xuzhou project will continue to generate positive cash flow, enhancing its property management expertise in China[24]. Corporate Governance - The company emphasizes accountability, transparency, independence, fairness, and responsibility in its corporate governance principles[57]. - The company is currently seeking to appoint a suitable candidate for the CEO position to comply with the corporate governance code[58]. - The roles of the chairman and CEO are currently held by the same individual, which deviates from the corporate governance code[70]. - The board consists of two executive directors and three independent non-executive directors as of June 30, 2023[59]. - The board held a total of 7 meetings during the year, with an attendance rate of 100% for the executive directors[63]. - The company has established a corporate governance committee to develop and review corporate governance policies and practices[100]. - The corporate governance committee consists of three independent non-executive directors, all of whom attended 100% of the meetings held during the year[102]. - The company has received written confirmations of independence from all independent non-executive directors, affirming their independence status[101]. - The board of directors is required to hold at least one meeting annually with independent non-executive directors to discuss governance matters[101]. Risk Management and Compliance - The group faces foreign currency risk due to financial assets and liabilities denominated in foreign currencies, primarily Hong Kong dollars, and manages this risk through regular reviews[44]. - The group has established a robust risk management and internal control system to achieve business objectives and sustainable growth[87]. - The internal audit department is responsible for ensuring the effectiveness of governance, risk management, and internal control systems[91]. - The group closely monitors government policies and regulations to assess their impact on operations, ensuring compliance to avoid penalties or business interruptions[124]. Employee and Workforce Development - The company employed 500 staff as of June 30, 2023, an increase from 449 in 2022, indicating growth in workforce[35]. - The group has maintained a healthy and safe working environment for all employees, with no reported incidents of strikes or fatalities due to workplace accidents during the year[126]. - The group has established strong relationships with employees, customers, and suppliers, focusing on comprehensive benefits and professional development opportunities[126]. Shareholder Communication and Dividends - The company has a dividend policy prioritizing cash distribution to shareholders, with decisions based on financial performance and capital requirements[116]. - The board did not recommend the payment of a final dividend for the year ended June 30, 2023, consistent with the previous year[47]. - The company has adopted a shareholder communication policy to ensure timely and equal access to information for shareholders and potential investors[112]. - The company encourages shareholders to access corporate communications via its website to reduce environmental impact[112]. - The company has established a mechanism for shareholders to request special general meetings if they hold at least 10% of the voting rights[103]. Share Option Schemes - The total number of shares that can be issued under the 2003 Share Option Scheme is 40,262,500 shares, accounting for 10% of the issued shares as of January 9, 2003[151]. - The maximum number of shares that can be issued under the 2010 Share Option Scheme is 95,024,050 shares, representing 10% of the issued shares at the date of the special general meeting in 2010[162]. - The total number of shares that can be issued under the 2019 Share Option Scheme is 288,409,173 shares, which is 10% of the issued shares as of the 2019 annual general meeting[174]. - No share options were granted, exercised, lapsed, or cancelled under the 2019 Share Option Scheme during the year, and there were no unexercised options as of June 30, 2023[177]. - The exercise price for shares under the 2003 Share Option Scheme must not be lower than the highest of the closing price on the day of grant or the average closing price over the preceding five trading days[157]. - The exercise period for options granted under the 2010 Share Option Scheme is within ten years from the date of grant[166]. - The maximum number of shares that can be granted to any individual under the share option schemes is limited to 1% of the issued shares at any time[152]. - The 2003 Share Option Scheme was terminated upon the adoption of a new share option scheme on February 11, 2010[158]. - The 2010 Share Option Scheme was terminated upon the adoption of a new share option scheme on December 12, 2019[170]. - The options granted under the 2003 Share Option Scheme must be accepted within 21 days from the date of grant, with a payment of HKD 1.00 for each grant[155]. - The total number of shares available for issuance under the 2019 share option plan is 288,409,173 shares, accounting for 9.97% of the company's issued share capital[178]. - No share options were issued during the year, representing 0% of the weighted average number of relevant class shares issued by the company[178]. - The maximum number of shares that can be granted to any individual under the share option plan within any twelve-month period shall not exceed 1% of the company's issued shares[179]. - The 2019 share option plan remains valid until December 11, 2029, with a remaining term of six years[184]. Board and Management Changes - Mr. Mu Dongsheng resigned from the board of the company's subsidiary on July 20, 2023[200]. - Mr. Mao Yangguang was appointed to the board of the company's subsidiary on July 20, 2023[200]. - There are no significant transactions, arrangements, or contracts involving the company's directors with substantial interests, except as disclosed in the financial statements[200].
京维集团(01195) - 2023 - 年度财报