鹰美(02368) - 2023 - 年度财报

Financial Performance - The company reported a basic earnings per share of HKD 0.548, an increase from HKD 0.515 in the previous year, representing a growth of approximately 6.4%[8] - Total assets amounted to HKD 3,075 million, a slight decrease from HKD 3,125 million in the previous year[9] - The company achieved record sales during the year, with a gross profit margin increase of 1.0% due to favorable currency fluctuations, particularly the depreciation of the RMB, IDR, and VND against the USD[16] - Other income and gains reached HKD 22.7 million, up from HKD 20.7 million in the previous year, primarily driven by government incentives and interest income[17] - The company recorded a net current asset value of HKD 420.3 million, an increase from HKD 392.7 million in the previous year[33] - For the fiscal year ending March 31, 2023, the group reported a revenue of HKD 4,051,107,000, an increase of 10.4% from HKD 3,668,371,000 in the previous year[178] - The profit before tax for the same period was HKD 399,444,000, representing a growth of 9.7% compared to HKD 363,938,000 in the prior year[178] - The net profit attributable to the owners of the company was HKD 292,639,000, up from HKD 274,633,000, marking a year-on-year increase of 6.5%[178] Corporate Governance - The Audit Committee reviewed the annual report and performance announcement for the year ending March 31, 2022, and made recommendations to the Board for approval[77] - The Audit Committee also reviewed the interim report and performance announcement for the six months ending September 30, 2022, and made recommendations to the Board for approval[77] - The Audit Committee assessed the independence of the external auditor and made recommendations for their reappointment at the 2022 Annual General Meeting[77] - The Audit Committee evaluated the resources, qualifications, and training of the accounting, internal audit, and financial reporting functions within the Group[77] - The Audit Committee reviewed the audit fees payable to the external auditor for the year ending March 31, 2023, and made recommendations to the Board for approval[77] - The Audit Committee monitored the integrity of the Group's financial statements to ensure objectivity and reliability[102] - The Audit Committee's responsibilities include reviewing the effectiveness of the financial reporting system, internal control systems, and risk management[102] - The Company appointed independent consultants to assist with corporate governance functions, finding no significant issues[77] - The Company Secretary is a full-time employee who ensures compliance with the relevant professional training requirements[99] - The Company has adopted the standard code of conduct for securities trading by directors, confirming compliance throughout the year[95] - The company has established mechanisms to ensure the board reviews independent viewpoints and conducts annual reviews, confirming the effectiveness of these mechanisms[119] - The board has mechanisms in place to ensure compliance with legal and regulatory requirements, which are regularly reviewed[115] - The company has confirmed that all independent non-executive directors continue to demonstrate strong independence[118] - The board of directors has held three meetings with the audit committee, ensuring compliance with applicable accounting principles and listing rules[103] - The company has disclosed interests in competitive businesses, ensuring that potential conflicts of interest are managed appropriately[105] - The company has established a nomination committee to evaluate candidates for new board appointments based on listing rules[118] - The board has reviewed the effectiveness of its diversity policy and found it to be effective[164] - The company has a diversified board policy that has been revised to enhance competitive advantage[140] - The independent non-executive directors serve a term of three years, with their main appointment terms outlined in formal letters[192] - The company is committed to evaluating the independence of all independent non-executive directors[185] Employee and Operational Insights - As of March 31, 2023, the total employee benefits expenditure, including remuneration for directors and the CEO, amounted to HKD 1,042,700,000, compared to HKD 1,005,100,000 in 2022, reflecting an increase of approximately 3.7%[52] - The group employed around 15,000 employees as of March 31, 2023, consistent with the previous year[52] - The gender ratio of employees is approximately 7.8:2.2, aligning with the apparel manufacturing industry standard[191] - The company emphasizes the importance of gender diversity at all employee levels, including the board and senior management[191] - The board composition includes 18% female directors and 82% male directors, while senior management consists of 75% female and 25% male[142] - The company has a total of 1 senior management member earning between HKD 4,000,001 and HKD 4,500,000 for the year ending March 31, 2023[114] - The executive directors are responsible for the daily operations of the company and report to the board[194] - The board has authorized the CEO to manage the daily operations, ensuring accountability to the board[194] Strategic Initiatives - The company has established production bases in various countries to enhance capacity and mitigate political and economic risks, contributing to stable order sources[16] - The company implemented energy-saving measures, including the installation of rooftop solar power stations, to reduce reliance on traditional energy sources and lower costs[14] - The company aims to focus on developing diversified production bases and enhancing talent cultivation to strengthen its core competitiveness in response to challenges[44] - The company is committed to sustainable development across various sectors, including environmental protection[133] - The global economic outlook remains uncertain, which may slow the growth pace of the sportswear market, but long-term prospects remain positive due to rising health awareness and the trend of "athleisure"[44] - The group plans to gradually recruit employees and commence production at the Vietnam factory in the next fiscal year[174] Risk Management - The company plans to continue monitoring its foreign exchange risks and will employ appropriate tools to manage and minimize these risks[50] - The company has maintained compliance with all relevant laws and regulations that significantly impact its operations during the review year[155] Dividends and Shareholder Information - The company has proposed a final dividend of HKD 0.08 per ordinary share and a special dividend of HKD 0.06 per ordinary share for the year, following an interim dividend of HKD 0.30 per share paid in December 2022[61] - The company has issued a total of shares with at least 25% held by the public as of the annual report date[104] - The company has a significant shareholder structure, with the largest shareholder holding 13.61% of the issued share capital[181] Lease and Service Agreements - The main service agreement between Pouyuen Vietnam and Pro Kingtex Vietnam has a service fee cap of US$1.8 million for both the fiscal year 2023 and 2024, and US$300,000 for 2025[126] - The monthly rent under the lease agreement is capped at US$71,184, equivalent to approximately HK$555,000[128] - The group has entered into a supplementary lease agreement with Pouyuen Vietnam, with a monthly rent not exceeding USD 11,094, effective from December 1, 2020, to May 31, 2023[149] - The value of the supplementary lease and lease is USD 324,022 and USD 2,484,736, respectively, equivalent to approximately HKD 2,511,000 and HKD 19,331,000[150] - The main service agreement transactions did not exceed the previously disclosed total cap amount[127] Production and Capacity - The group has successfully integrated the Foshan factory into its production, and the Bandung factory has undergone upgrades with advanced automation equipment[174]