Financial Performance - The group's revenue decreased by 12.5% from approximately HKD 249.0 million in 2021 to approximately HKD 217.9 million in 2022[8] - Gross profit slightly decreased by 0.6% to approximately HKD 58.0 million, with the gross margin increasing from 23.4% in 2021 to 26.6% in 2022[8] - Profit attributable to owners of the company was approximately HKD 8.6 million, up from HKD 6.8 million in 2021[8] - EBITDA for the year was approximately HKD 34.1 million, compared to HKD 29.3 million in 2021[8] - Revenue from bonding wire products decreased by 34.8% to approximately HKD 106.0 million, while revenue from packaging adhesive products increased significantly by 31.0% to approximately HKD 100.4 million[15] - Other income recorded a net gain of approximately HKD 4.3 million, compared to HKD 0.6 million in 2021, with foreign exchange gains of approximately HKD 2.4 million[17] - The group reported a profit attributable to owners of approximately HKD 8.6 million, an increase from HKD 6.8 million in 2021[22] - As of December 31, 2022, the company's distributable reserves were approximately HKD 156.2 million, down from HKD 169.7 million as of December 31, 2021[134] Market and Business Strategy - The company plans to expand its customer base from commercial to household markets[10] - The group aims to continue developing products related to mini LED displays and explore new technologies[10] - The company plans to launch three new series of die attach adhesives and has developed a new copper alloy bonding wire, which has received validation from top customers in China[27] - The group aims to expand its customer base from commercial to household markets, enhancing product applications beyond commercial uses[28] - The group anticipates a 6.3% growth rate in the global semiconductor materials market in 2023, reaching a historical high of USD 485.8 billion[26] Corporate Governance - The management team is committed to maintaining high standards in corporate governance and financial reporting, with independent directors overseeing these processes[56][57] - The company emphasizes the importance of good corporate governance practices to enhance accountability and transparency for shareholders[69] - The board consists of seven members, including three executive directors and three independent non-executive directors, ensuring a balance of power[70] - The company has complied with the GEM Listing Rules and has undergone no less than 15 hours of relevant professional training as of December 31, 2022[64] - The chairman and CEO roles are clearly separated to ensure effective governance and management of the company[71] - The company has established a board diversity policy to enhance board efficiency by considering factors such as gender, age, and professional experience[82] Risk Management and Compliance - The company has a structured approach to risk management and internal controls, which is regularly reviewed[77] - The board is responsible for ensuring effective risk management and internal controls, with a review conducted at least annually[107] - The company has established a dedicated internal audit department to regularly assess the effectiveness of risk management and internal control systems[105] - The board has confirmed that there are no significant uncertainties regarding the company's ability to continue as a going concern[112] Dividends and Shareholder Relations - The board proposed a final dividend of HKD 0.022 per share, subject to shareholder approval[8] - The board declared an interim dividend of HKD 0.00310 per share, totaling approximately HKD 2.2 million, and proposed a final dividend of HKD 0.0022 per share, totaling approximately HKD 1.6 million[33] - The company has adopted a dividend policy prioritizing cash distributions to shareholders, with the payout ratio determined by the board based on financial performance and future outlook[186] Environmental, Social, and Governance (ESG) Initiatives - The group has implemented green office measures to promote sustainability, including energy-saving practices and resource conservation[146] - The group is integrating Environmental, Social, and Governance (ESG) issues into its operations and regulatory systems to manage sustainability-related risks and opportunities[193] - The ESG report covers the group's main operations in Hong Kong and Shantou, focusing on the development, production, and sales of semiconductor packaging materials[194] - The board oversees the established sustainable governance framework, enhancing the group's governance performance and strategies related to ESG matters[200] Management and Personnel - Professor Zhou, the co-founder and executive director, has over 41 years of experience in the electronic materials industry and was appointed as an executive director on February 21, 2017[46] - Mr. Shi, the general manager, has over 16 years of experience in the electronic materials industry and has been with the group since May 2007[47] - The company has a strong emphasis on research and development, with key personnel holding advanced degrees and significant industry experience[48][52] - The company has hired a personnel relations consultant for brand and digital marketing efforts[40] Supplier and Customer Relations - Sales to the top five customers accounted for approximately 42.6% of total sales, down from 48.1% in 2021, with the largest customer representing about 14.3% of total sales[135] - Purchases from the top five suppliers constituted approximately 55.7% of total purchases, a decrease from 71.1% in 2021, with the largest supplier accounting for about 19.6% of total purchases[135] - The group relies on a few suppliers for raw materials, with the largest supplier accounting for approximately 19.6% and the top five suppliers together representing 55.7% of total procurement[141] - The group has expanded its supplier base to mitigate risks associated with supplier concentration[141] Charitable Contributions - The group made charitable donations of HKD 33,500 in the review year, compared to HKD 12,000 in 2021[185]
骏码半导体(08490) - 2022 - 年度财报