Financial Performance - The group's revenue increased by approximately HKD 88.7 million, or about 67.9%, from approximately HKD 130.6 million in the previous year to approximately HKD 219.3 million in the current year[5]. - The group recorded a net profit of approximately HKD 8.3 million, compared to a net loss of approximately HKD 20.2 million in the previous year[5]. - The gross profit increased from approximately HKD 11.4 million to approximately HKD 41.9 million, with the overall gross margin rising from about 8.7% to approximately 19.1%[13]. - The cost of sales for the current year was approximately HKD 177.3 million, an increase of about 48.7% from approximately HKD 119.2 million in the previous year[12]. - Other income and gains increased from a net loss of approximately HKD 0.4 million to a net gain of approximately HKD 4.1 million, primarily due to foreign exchange gains and bank interest income[14]. Sales and Market Performance - Sales in Hong Kong, Macau, and mainland China accounted for approximately HKD 172.8 million, HKD 33.5 million, and HKD 12.9 million respectively in the current year[8]. - In 2022, the total carbon dioxide emissions from direct combustion (Scope 1) were 19.43 tons, a decrease from 33.19 tons in 2021[194]. - The energy indirect emissions (Scope 2) from purchased electricity increased to 676.64 tons in 2022 from 608.98 tons in 2021[194]. - In the fiscal year 2022, the top five customers accounted for approximately 66% of the total revenue, with the largest customer contributing about 36%[135]. Expenses and Costs - Selling and distribution expenses rose by approximately 38.3% to about HKD 8.2 million, mainly due to increased transportation costs[15]. - Administrative and other expenses increased by approximately 16.8% to about HKD 28.9 million, primarily due to higher employee costs[16]. - Financing costs increased from approximately HKD 0.2 million to about HKD 0.6 million, mainly due to interest expenses on other loans[18]. Cash Flow and Working Capital - As of December 31, 2022, the company's cash and bank balances were approximately HKD 71.1 million, a slight decrease from HKD 71.8 million on December 31, 2021, primarily due to an increase in trade receivables and other receivables by approximately HKD 21.5 million[21]. - The company's operating working capital as of December 31, 2022, was approximately HKD 133.9 million, up from approximately HKD 119.3 million in 2021[21]. - The debt-to-equity ratio increased to approximately 9.2% as of December 31, 2022, compared to 4.7% in 2021, mainly due to the raising of more short-term borrowings during the year[21]. Corporate Governance - The company is committed to maintaining good corporate governance practices and has complied with all provisions of the Corporate Governance Code during the fiscal year 2022[59]. - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors[66]. - The company has established an audit committee to provide strategic advice on internal controls and corporate governance[50]. - The board is responsible for the overall management of the company, including strategy formulation and performance evaluation[66]. - The company has adopted a share option scheme to incentivize directors and employees[36]. Risk Management - The company has implemented a risk management system to mitigate operational risks, with a focus on macro and microeconomic conditions[32]. - The board has confirmed that the risk management and internal control systems are implemented and effective[112]. - The group has engaged an external independent consultant to review the effectiveness of its risk management and internal control systems for the year 2022[112]. Environmental, Social, and Governance (ESG) - The company is increasingly aware of its environmental, social, and governance responsibilities, supporting a transition to a low-carbon and sustainable future[65]. - The board is responsible for overseeing ESG matters and regularly reviews performance, risks, and opportunities related to sustainability[181]. - The group identified 18 key issues related to environmental, social, and governance (ESG) concerns, with approximately 44% related to environmental issues, 33% to employment and labor practices, and 23% to operational practices[186]. - The group reported no significant violations of environmental laws that would have a major impact during the reporting year[191]. Employee and Management - The total employee cost amounted to approximately HKD 40.6 million, an increase from HKD 34.5 million in the previous year[36]. - The company had 238 full-time employees as of December 31, 2022, compared to 221 employees a year earlier[36]. - The management team has extensive experience, with the general manager having over 21 years in the electromechanical engineering industry[56]. Shareholder Information - The company has a dividend policy in place, allowing for the declaration and distribution of dividends to shareholders, while retaining sufficient reserves for future development[169]. - The company has maintained compliance with the minimum public float requirements as per listing rules throughout the reporting period[173]. - The company did not engage in any purchases, redemptions, or sales of its listed securities during the fiscal year 2022[131].
全达电器集团控股(01750) - 2022 - 年度财报