Financial Performance - In the fiscal year ending December 31, 2023, the group's revenue from metal casting business decreased compared to the previous year, but raw material cost control improved, leading to a slight increase in gross margin[12]. - In the fiscal year 2023, the group's revenue from continuing operations decreased by approximately 14.24% to about HKD 53.78 million, compared to HKD 62.71 million in fiscal year 2022[21]. - The gross profit from continuing operations for fiscal year 2023 was approximately HKD 14.02 million, down from HKD 14.53 million in fiscal year 2022, maintaining a gross profit margin of about 26.07%[22]. - The group recorded a loss attributable to equity shareholders of approximately HKD 5.04 million in fiscal year 2023, a reduction of about 58.48% compared to HKD 12.14 million in fiscal year 2022[26]. - The group’s cash and cash equivalents as of December 31, 2023, were approximately HKD 5.48 million, an increase from HKD 2.80 million as of December 31, 2022[27]. Cost Control and Resource Management - The group plans to strengthen cost control and resource management while seeking potential investment opportunities to enhance its business and create new revenue sources[19]. - The group’s administrative expenses increased to approximately HKD 17.98 million in fiscal year 2023, up from HKD 16.27 million in fiscal year 2022[24]. - The group has terminated 75% of its stake in the financial printing business to prevent further losses and cash outflows due to its poor performance[18]. Investment and Growth Strategy - The group plans to actively seek potential investment opportunities in mainland China, Hong Kong, and overseas to enrich its business and create new revenue sources[13]. - The group issued a total of 11 million subscription shares at HKD 0.235 per share, raising approximately HKD 2.6 million for debt repayment and general working capital[31]. - The group issued a total of 31.4 million subscription shares at HKD 0.11 per share, raising approximately HKD 3.5 million for general working capital and potential new projects[32]. - The company completed a rights issue on August 24, 2023, raising approximately HKD 10.2 million, with a net amount of about HKD 9.0 million after expenses[34]. Corporate Governance - The board of directors consists of two executive directors and three independent non-executive directors, ensuring a balanced governance structure[69]. - The company has adopted anti-corruption and whistleblowing policies to promote integrity and ethical conduct within its operations[70]. - The company has established three committees: audit, remuneration, and nomination, to oversee specific aspects of corporate governance[81]. - The company’s independent non-executive directors meet the independence standards set by GEM listing rules, with annual confirmations received[78]. Risk Management - The board has adopted a three-tier risk management approach to identify, assess, and manage significant risks[102]. - The group faces various market risks including currency risk, interest rate risk, credit risk, and liquidity risk, which may impact business and profitability growth due to intensified industry competition and macroeconomic fluctuations in China, Hong Kong, Germany, and globally[52]. - The group has not established a foreign exchange hedging policy but will continue to monitor foreign exchange risks and consider hedging significant risks as necessary[53]. Environmental, Social, and Governance (ESG) Initiatives - The company is focused on integrating sustainable development principles into its strategic planning and daily operations to maintain competitive advantages in the metal casting industry[124]. - The environmental, social, and governance (ESG) report for 2023 is prepared according to the GEM Listing Rules and aims to disclose the company's sustainable development policies and practices[125]. - The company aims to reduce energy consumption, greenhouse gas emissions, and water resources by 5% by 2030 based on 2023 levels[141]. - The company has implemented resource-saving measures and environmental education for employees to enhance sustainability efforts[141]. Employee Management - Employee costs for the fiscal year 2023 amounted to approximately HKD 16.14 million, a decrease from HKD 27.04 million in the previous fiscal year[63]. - The number of employees, including directors, decreased to 105 as of December 31, 2023, down from 133 the previous year[63]. - The average training time per employee in 2023 was 24 hours for both male and female employees, with 100% of employees receiving training[167]. - The employee turnover rate was 28, with a male turnover rate of 28.4% and a female turnover rate of 20.8%[161]. Community Engagement - The group actively supports community development through cash donations and encourages employee participation in volunteer activities[176][177]. - Community investment policies focus on understanding local needs and ensuring business activities consider community interests[190]. Compliance and Legal Matters - The company has allocated resources to ensure compliance with regulatory requirements, recognizing the importance of adherence to laws and regulations[46]. - The company has not reported any significant non-compliance issues in Hong Kong and China during the review year[47]. - The group adheres to data privacy laws, with no significant violations reported regarding data protection during the reporting period[173].
吉盛集团控股(08133) - 2023 - 年度业绩