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嘉耀控股(01626) - 2022 - 年度财报
JIA YAO HLDGSJIA YAO HLDGS(HK:01626)2023-04-20 10:00

Financial Performance - The paper cigarette packaging segment reported revenue of RMB 742.3 million, an increase of 8.9% from RMB 681.5 million in the previous year[1]. - The social product paper packaging segment saw revenue rise to RMB 9.0 million, reflecting a growth of 22.1% from RMB 7.4 million[1]. - The electronic cigarette segment generated revenue of RMB 217.0 million, marking its first year of contribution as it was not applicable in the previous year[1]. - Distribution costs increased by approximately 47.5% to RMB 411.0 million from RMB 278.0 million, primarily due to higher employee costs and promotional expenses for electronic cigarette products[2]. - Other income improved to RMB 1.0 million from a loss of RMB 2.6 million, mainly due to reduced losses from the sale of raw materials and properties[4]. - Income tax expenses rose to RMB 7.2 million from RMB 0.8 million, attributed to increased net profit from subsidiaries in China[5]. - Trade and other receivables increased by 75.1% to RMB 214.2 million from RMB 122.3 million, driven by a rise in trade receivables and deposits[6]. - The company aims to raise up to HKD 180.0 million through a rights issue to fund the relocation of production facilities and the development of the electronic cigarette segment[12]. - As of December 31, 2022, the company's distributable reserves amounted to approximately RMB 183.3 million, a substantial increase from RMB 25.2 million in the previous year[191]. - The board proposed a final dividend of HKD 0.056 per share for the year ending December 31, 2022, compared to no dividend in the previous year[198]. Corporate Governance - The board has established various committees, including the Audit Committee, Remuneration Committee, and Nomination Committee, to oversee their respective responsibilities[43]. - The Remuneration Committee has reviewed and provided recommendations on the remuneration of directors for the year ended December 31, 2022[54]. - The Nomination Committee is responsible for reviewing the board's structure and composition at least annually and making recommendations for any changes[54]. - The company recognizes the benefits of a diverse board and aims to maintain diversity in skills, experience, knowledge, and gender[56]. - The board has a policy to ensure that it remains aligned with the company's needs and reflects current regulatory requirements and good corporate governance practices[57]. - All directors have been provided with sufficient resources to fulfill their duties and can seek independent professional advice at the company's expense[47]. - The company has complied with the corporate governance code regarding the establishment of the Remuneration Committee and Nomination Committee since June 6, 2014[54]. - The board's attendance rate for the annual general meeting was 100% for all directors[48]. - The company encourages all directors to participate in relevant training courses, with costs covered by the company[44]. - The board has a commitment to ongoing training and updates regarding changes in legislation and regulatory environments affecting the group's operations[44]. - The company has appointed PwC as the external auditor for the year ending December 31, 2023, with no disputes regarding their appointment[60]. - The audit committee, composed of three independent non-executive directors, is responsible for overseeing financial reporting and risk management systems[68]. - The company aims to maintain a balance between allowing shareholders to share in profits and retaining sufficient reserves for future development[77]. - The company typically pays dividends twice a year, consisting of an interim and a final dividend, with the possibility of special dividends at the board's discretion[77]. - The company has established internal monitoring standards and procedures to support risk management and compliance with corporate governance[99]. Risk Management and Compliance - The risk management system is designed to provide reasonable assurance against significant misstatements or losses, rather than absolute assurance[60]. - The internal audit function has been revised and monitored for effectiveness by the audit committee during the year[84]. - The company’s risk management and internal control systems are continuously monitored to ensure effective communication and management of residual risks[80]. - The company has a policy for insider information and regularly reminds directors and employees to comply with all related policies[104]. - The company has conducted a materiality assessment to explore the importance of various issues to stakeholders and their potential impact on business development[113]. - The company emphasizes the importance of stakeholder engagement and considers their opinions valuable for promoting sustainable development[111]. - The company adheres to strict compliance with labor laws, ensuring no violations related to child labor or forced labor during the reporting period[146]. - The company has implemented guidelines to ensure ethical procurement practices, focusing on labor conditions and environmental compliance[147]. - The company has not been involved in any corruption-related legal cases during the reporting period, maintaining a strong anti-corruption stance[150]. - The company is committed to protecting its intellectual property rights, ensuring compliance with relevant laws and regulations[149]. Environmental Responsibility - The company is committed to ensuring compliance with environmental laws and regulations in China, focusing on cost-effective and eco-friendly printing technologies[96]. - During the reporting period, the company adhered to significant regulations regarding emissions and waste management, ensuring no major harmful waste was produced[96]. - The company has implemented waste reduction policies aimed at improving production processes to minimize, reuse, and recycle waste generated from products and packaging[119]. - The company regularly monitors resource consumption to avoid unnecessary waste and aims to use more environmentally friendly materials[119]. - Total greenhouse gas emissions amounted to 2,112.0 tons, with direct emissions from fuel consumption at 2,012.0 tons and indirect emissions from electricity consumption at 100.0 tons[129]. - The total hazardous waste generated was 208.4 tons, with a hazardous waste generation rate of 0.3 tons per RMB 1 million of goods sold[129]. - Energy consumption from fuel and gas reached 1,176,507.9 MWh, with energy consumption per RMB 1 million of goods sold at 3,711.7 MWh[131]. - Water consumption totaled 125,340.0 cubic meters, with a water consumption rate of 227.4 cubic meters per RMB 1 million of goods sold[131]. - The total paper consumption was 20,148.4 tons, indicating a significant resource usage in production[131]. - The company emphasizes employee education on water conservation and encourages recycling to minimize wastewater generation[129]. - The company encourages the use of electronic documents to reduce paper usage, promoting double-sided printing when paper is necessary[122]. Employee Relations and Training - A total of 1,230 employees participated in training in 2022, representing 96.5% of the total workforce, compared to 97.1% in the previous year[166]. - The average training hours for male employees was 1.1 hours, while for female employees it was 1.2 hours in 2022[166]. - The company achieved zero work-related fatalities over the past three years, with only 7 days lost due to work injuries during the reporting period[164]. - The company adheres to fair recruitment principles and does not discriminate based on gender, age, race, disability, marital status, or sexual orientation[161]. - The company has not violated any laws related to compensation, recruitment, promotion, or workplace safety during the reporting period[163]. - The company is committed to protecting employees from any form of harassment or bullying in the workplace[169]. - The company actively seeks to build long-term relationships with local communities by hiring local residents and purchasing local goods and services[175]. Product Quality and Supply Chain - The company strictly monitors product quality throughout the production process, ensuring compliance with inspection procedures[173]. - The company has a policy against child labor and forced labor, adhering to relevant labor laws and international labor standards[168]. - The company reported a major client contributing 15.8% to sales and the top five clients accounting for 56.0% of total sales[178]. - The largest supplier accounted for 17.5% of total purchases, indicating a significant reliance on key suppliers[178]. - The company has established internal control standards for all products delivered, adhering to national standards and ISO9000 quality system standards[194]. - The company has a diverse supplier base with 104 suppliers in Guangdong and a total of 118 suppliers across various provinces[194]. - There were no product recalls during the reporting period due to safety and health reasons, indicating strong product quality control[194]. - The company has not entered into any management or administrative contracts affecting the majority of its business as of December 31, 2022[190]. - The company has a service agreement with executive directors effective from February 18, 2023, for a term of three years[185].