Financial Performance - The company reported a revenue of approximately RMB 317.9 million for the fiscal year ending December 31, 2022, representing an increase of about 7.7% compared to the previous year[5]. - For the fiscal year ending December 31, 2022, the company's revenue was approximately RMB 317.9 million, an increase of about 7.7% compared to RMB 295.1 million for the fiscal year ending December 31, 2021[17]. - Revenue from oil product sales increased by approximately 12.0% to about RMB 229.7 million for the fiscal year ending December 31, 2022, driven by increased demand for oil products[19]. - The company's sales cost rose by approximately 10.2% to about RMB 263.8 million for the fiscal year ending December 31, 2022, primarily due to increased sales of oil products[21]. - The overall gross profit decreased by approximately 2.8% to about RMB 54.1 million for the fiscal year ending December 31, 2022[22]. - The overall gross margin declined from approximately 18.9% for the fiscal year ending December 31, 2021, to about 17.0% for the fiscal year ending December 31, 2022[23]. - The company recorded a net loss of approximately RMB 553,000 from other losses for the fiscal year ending December 31, 2022, compared to a net gain of approximately RMB 715,000 for the fiscal year ending December 31, 2021[24]. - The income tax expense decreased by approximately 16.2% to about RMB 11.3 million for the fiscal year ending December 31, 2022, mainly due to the application of a lower withholding tax rate[28]. - The profit attributable to the owners of the company was approximately RMB 17.5 million for the fiscal year ending December 31, 2022, representing an increase of about 37.5% compared to RMB 12.7 million for the fiscal year ending December 31, 2021[29]. Operational Highlights - The total cargo throughput for the fiscal year was approximately 4,164 thousand tons, an increase of about 60 thousand tons or approximately 1.5% from the previous year[11]. - The average handling fee for cargo remained stable compared to the previous year, despite the challenges posed by the COVID-19 pandemic[11]. - The company has successfully strengthened service quality and expanded its customer base by acquiring several new clients during the reporting year[12]. - The company is expanding its sales and marketing department to support the development of its international import trade business in 2023[15]. - The company plans to enhance its corporate image and reputation through a trade framework agreement with Maoming Tianyuan, targeting a major customer for oil products[15]. - The group plans to enhance operational capabilities and efficiency by consolidating and integrating core businesses[47]. - In cargo handling and packaging services, the group aims to broaden its cargo sources and strengthen cost control while deepening customer relationships[47]. - The group is committed to expanding sales in fuel retail, improving marketing strategies, and enhancing customer service to develop the market steadily[47]. Corporate Governance - The company has adhered to the corporate governance code, except for provisions C.2.1 and D.2.5, which relate to the separation of roles between the Chairman and the CEO, and the establishment of an internal audit function respectively[76]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors as of December 31, 2022[82]. - The company has implemented appropriate measures to fulfill internal audit functions, including hiring external consultants for internal reviews[77]. - The board is responsible for leading and monitoring the company's business performance and approving major financing and investment proposals[81]. - The company has a structured governance policy that includes regular reviews of its governance practices and compliance with legal and regulatory requirements[81]. - The company has established formal arrangements for financial reporting and internal control principles to ensure compliance with listing rules and relevant laws[77]. - The board has established three committees: the remuneration committee, the nomination committee, and the audit committee, with most members being independent non-executive directors[96]. - The company has confirmed compliance with corporate governance codes and policies[104]. Environmental, Social, and Governance (ESG) Initiatives - The company has adhered to all "comply or explain" provisions of the Environmental, Social, and Governance reporting guidelines during the reporting period[145]. - The board of directors is responsible for leading and supervising environmental, social, and governance matters, ensuring the group captures opportunities and manages risks related to sustainable development[151]. - The group has established an environmental, social, and governance working group to enhance the effectiveness of sustainable development governance[151]. - The group reported emissions of 21.22 kg of nitrogen oxides, 7.45 kg of sulfur oxides, and 1.95 kg of particulate matter from its operations[163]. - The total greenhouse gas emissions for the group in 2022 amounted to 2,479.29 tons of CO2 equivalent, with a density of 0.60 tons of CO2 equivalent per thousand tons of total cargo throughput[165]. - The group aims to reduce total greenhouse gas emissions by 3% annually per thousand tons of total cargo throughput over the next 10 years[174]. - The group has implemented measures to reduce emissions, including the purchase and rental of new electric vehicles for operations[173]. - The group has engaged external consultants to assess environmental risks associated with terminal operations, aiming to reduce overall environmental impact[190]. Workforce and Employment Practices - The group employed 236 employees as of December 31, 2022, down from 247 employees as of December 31, 2021[38]. - The total employee cost for the year ended December 31, 2022, was approximately RMB 28.0 million, an increase from RMB 26.9 million for the year ended December 31, 2021, primarily due to salary and bonus increases[38]. - The employee turnover rate during the reporting period was 9%, with 20 employees leaving the company[200]. - Female employees accounted for 17% of the total workforce in 2022, up from 16% in 2021, while male employees decreased from 84% to 83%[198]. - The group has maintained compliance with various labor laws and regulations, including the Labor Law of the People's Republic of China[198]. - The group has not reported any significant violations related to employment practices during the reporting period[198]. Future Outlook and Strategic Plans - The company plans to expand its international import trade business in 2023, aiming to diversify its revenue sources and enhance overall earnings[7]. - The company has set a revenue guidance of HKD 1.5 billion for the next fiscal year, indicating a growth target of 25%[60]. - New product launches are expected to contribute an additional HKD 300 million in revenue, with a focus on eco-friendly technologies[60]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[60]. - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and increase market penetration by 15%[60].
天源集团(06119) - 2022 - 年度财报