Financial Performance - The company's revenue for the year ended December 31, 2022, was approximately RMB 237.27 million, a decrease of 17.8% compared to RMB 288.68 million in 2021[15]. - Gross profit for the same period was approximately RMB 31.97 million, down 33.3% from RMB 47.93 million in the previous year[16]. - Net profit for the year was approximately RMB 10.08 million, a decline of 3.2% from RMB 10.42 million in 2021[16]. - The overall revenue from port logistics services increased by 2.5% due to the growth in port transportation services, despite the decline in overall service volume[23]. - The logistics services segment experienced a revenue increase of 27.2% year-on-year, reaching RMB 51,157,000, driven by a 75.3% increase in import and export agency services volume[24]. - Road transport service revenue decreased by 10.9% year-on-year to RMB 23,089,000, attributed to a decline in container transport volumes due to economic conditions[24]. - The supply chain operations segment saw a significant revenue decline of 56.4% year-on-year, totaling RMB 50,644,000, primarily due to reduced sales in construction materials[26]. - The group reported a net profit of approximately RMB 10,084,000, a decrease from RMB 10,415,000 in the previous year, mainly due to reduced revenue from the construction materials supply chain[31]. Operational Developments - The company's port logistics service volume decreased by 6.8% to 3,794,017 TEUs, while the port transportation service volume increased by 1.5% to 3,837,176 TEUs[19]. - The total throughput of Xiamen Port for the year 2022 was 12.4 million TEUs, representing a growth of 3.2% year-on-year[23]. - The company plans to enhance management and optimize production processes to improve efficiency and better meet market demands[11]. - The company is closely monitoring the recovery of the domestic infrastructure and real estate markets to potentially restart its supply chain operations focused on sand and gravel materials[11]. - The land acquisition for the Xiamen logistics center has made substantial progress and is expected to be implemented in 2023[9]. - The company aims to continue expanding its services while maintaining strong communication with shareholders regarding its latest developments[10]. - The company plans to restart supply chain operations in response to the complex international environment, focusing on the sand and gravel construction materials market[48]. - The company is collaborating with major port operators in Xiamen to stabilize its port service business and expects new terminal operations in Quanzhou and Wuhan in 2023[50]. Human Resources - Employee costs rose to approximately RMB 109,126,000, up from RMB 96,262,000 in the previous year[27]. - The company employed 929 staff members as of December 31, 2022, down from 963 the previous year[38]. - The gender diversity ratio in the workforce as of December 31, 2022, is 7.2% female and 92.8% male, with a target to increase the female employee ratio by 2% over the next three years[64]. - The employee turnover rate for 2022 was 49%, an improvement from 54% in 2021[173]. - The turnover rate for employees aged 30 and below was 75% in 2022, indicating a concentration of turnover in this age group[177]. - Over 80% of full-time employees received an average of 0.5 hours of training, totaling 400 hours, covering topics such as corporate governance, anti-corruption, financial management, and occupational safety[192]. Corporate Governance - The board consists of five members, including two executive directors and three independent non-executive directors, complying with the requirement of having at least one independent director with appropriate professional qualifications[62]. - The board held one annual general meeting and four regular board meetings during the year ending December 31, 2022, with attendance rates of 100% for all directors at board meetings[63]. - The company has adopted and complied with the corporate governance code as per the listing rules, ensuring high standards of corporate governance to protect shareholder interests[57]. - There were no significant violations or regulatory breaches observed by the board during 2022, indicating a well-maintained corporate culture[56]. - The independent non-executive directors confirmed their independence, and the board believes all independent directors meet the independence guidelines[66]. - The board is responsible for overall strategic direction, corporate governance, risk management, and financial reporting, delegating daily operations to management[70]. - The company has established audit, remuneration, and nomination committees, all composed of independent non-executive directors[62]. - The board encourages constructive communication among members and with senior management to ensure transparency and effective decision-making[68]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report highlights the group's commitment to sustainable development and stakeholder engagement[117]. - The group has a dedicated ESG committee responsible for implementing policies and monitoring key performance indicators related to environmental, social, and governance matters[119]. - The company has identified six key environmental, social, and governance risks that are crucial for its sustainable development planning and strategy direction[139]. - The company has implemented measures to reduce waste, including promoting paperless operations to minimize waste generation[150]. - The company is committed to using environmentally friendly cleaning products to reduce harmful substances in wastewater[148]. - The company's greenhouse gas emissions for 2022 were 7,112 tons of CO2 for direct emissions (Scope 1), a decrease of 31.4% from 10,440 tons in 2021[161]. - Indirect emissions (Scope 2) increased to 271 tons of CO2 in 2022 from 116 tons in 2021, representing a 133.6% increase[161]. - The total diesel consumption was 2,694,535 kg in 2022, a slight decrease from 2,792,073 kg in 2021, indicating a focus on reducing fuel usage[161]. Supplier Management - The company is expanding its preferred supplier scope by welcoming qualified, capable, and high-quality suppliers[200]. - The company is implementing a supplier management system to enhance operational standards and regulate supplier management[200]. - The approach to supplier management is characterized by openness and prudence[200]. - The company aims to improve the quality of its supply chain through effective management of material suppliers and logistics service providers[200]. - The focus on supplier quality is intended to elevate the overall operational level of the company[200]. - The company is committed to establishing and executing supplier management policies[200]. - The initiative reflects the company's strategy to strengthen its supply chain resilience[200]. - The supplier management system is part of the company's broader operational improvement strategy[200].
象兴国际(01732) - 2022 - 年度财报