Financial Performance - The total revenue for the group was approximately HKD 208.9 million, an increase of about 13.6% compared to HKD 183.9 million in the previous year[10]. - The profit for the year was approximately HKD 18.4 million, a decrease of about 16.6% from HKD 22.1 million in the previous year[10]. - Revenue from the Chinese market was approximately HKD 185.5 million, up from HKD 161.2 million in the previous year, attributed to the stable recovery of the fast-moving consumer goods market[17]. - The group's net profit for the reporting period was approximately HKD 18.4 million, a decrease of about 16.6% from HKD 22.1 million in 2020, with a net profit margin of approximately 8.8%[25]. - The cost of sales was approximately HKD 152.3 million, representing about 72.9% of the revenue, an increase from 64.6% in the previous year[18]. - Other income and gains increased by approximately 66.6% to about HKD 10.5 million, driven by higher scrap sales and R&D service income[19]. Sales and Production - The number of aluminum aerosol cans sold was approximately 113.4 million, compared to 105.5 million in the previous year[17]. - Employee costs for the reporting period were approximately HKD 35.6 million, an increase from HKD 28.3 million in 2020, with a total of 245 employees as of December 31, 2021[40]. - The company plans to allocate HKD 48 million for expanding production capacity, including upgrading existing production lines and acquiring a new production line[43]. - A new R&D laboratory will be established with an investment of HKD 12 million, of which HKD 3.3 million has already been utilized, and HKD 8.7 million is expected to be used by December 31, 2022[43]. Expenses and Dividends - Selling and distribution expenses were approximately HKD 8.2 million, an increase of about 12.6% from HKD 7.3 million in the previous year[20]. - Administrative expenses for the reporting period were approximately HKD 21.4 million, an increase of about 3.6% compared to HKD 20.7 million in the same period of 2020[24]. - The board proposed a final dividend of HKD 0.0031 per share, down from HKD 0.0066 per share in the previous year[11]. Corporate Governance - The company has complied with the corporate governance code, except for the provision regarding the separation of the roles of Chairman and CEO[49]. - The board consists of two executive directors, one non-executive director, and three independent non-executive directors, ensuring high independence and effective decision-making[57]. - The independent non-executive directors possess extensive professional knowledge and experience in various fields, contributing to the board's independent judgment[53]. - The board has implemented a diversity policy, considering factors such as gender, age, and professional experience in the selection of board members[65]. - The board has established four committees: Audit, Remuneration, Nomination, and Risk Management, each with specific responsibilities and reporting requirements[73]. Risk Management - The company emphasizes the importance of corporate governance policies, effective risk management, and transparency to shareholders[90]. - The risk management committee is responsible for identifying and managing operational risks, with a focus on financial and market conditions[106]. - The company conducts quarterly meetings to analyze and prioritize identified risks based on their likelihood and impact[112]. - The board has overall responsibility for assessing risks associated with strategic goals and ensuring effective risk management systems are in place[106]. - The company has established a framework for risk management that includes regular assessments and adjustments based on operational needs[111]. Environmental, Social, and Governance (ESG) - The group has established an environmental, social, and governance (ESG) framework to promote and implement its sustainable development strategy[135]. - The company reported a focus on environmental protection, committing to reduce long-term negative impacts through strict monitoring and control of operations[145]. - The company aims to maintain zero significant violations related to air, greenhouse gas, and waste emissions over the next five years[156]. - The company has reduced raw material consumption by approximately 10% through the application of aluminum can wall-thinning technology[153]. - The company is committed to continuous improvement in resource utilization and monitoring to ensure compliance with environmental standards[164]. Employee Welfare and Training - The company adheres to Chinese labor laws and regulations, ensuring competitive compensation packages that include basic salary, overtime pay, bonuses, retirement benefits, and other employee welfare[178]. - The company conducts regular health checks for employees and maintains health records to ensure their well-being[183]. - A total of 249 employees participated in various training programs, accumulating 1,843 hours of training during the reporting period[194]. - The company emphasizes systematic training, creating specific training plans for different employee functions, with mandatory participation unless reasonable objections are presented[193]. - The company promotes a safe working environment by providing adequate safety equipment and conducting regular emergency drills[187].
中国铝罐(06898) - 2021 - 年度财报