Financial Performance - The group's metal casting business revenue decreased by approximately 14.24% compared to the previous year, reflecting ongoing challenges in the global economic environment[12]. - In the fiscal year 2023, the group's revenue from continuing operations decreased by approximately 14.24% to about HKD 53.78 million, down from HKD 62.71 million in fiscal year 2022[16]. - The gross profit from continuing operations for fiscal year 2023 was approximately HKD 14.02 million, a decrease of about HKD 0.51 million compared to HKD 14.53 million in fiscal year 2022, with gross profit margins of approximately 26.07% and 23.17% respectively[17]. - The loss attributable to equity shareholders for fiscal year 2023 was approximately HKD 5.04 million, a decrease of about 58.48% from HKD 12.14 million in fiscal year 2022[21]. - Selling and distribution expenses for fiscal year 2023 were approximately HKD 3.31 million, a reduction of about HKD 0.53 million from HKD 3.84 million in fiscal year 2022[18]. - Administrative expenses increased to approximately HKD 17.98 million in fiscal year 2023, up by about HKD 1.71 million from HKD 16.27 million in fiscal year 2022[19]. Business Strategy and Operations - The group has terminated 75% of its stake in the financial printing business to prevent further losses and cash outflows due to poor performance[13]. - The group maintains a cautious optimism regarding the recovery of the macroeconomic environment, which may benefit its operations[7]. - The group plans to continue its flexible and targeted sales and marketing strategies to enhance its market position and expand its customer base[8]. - The group aims to seek potential investment opportunities in mainland China, Hong Kong, and overseas to diversify its business and create new revenue sources[8]. - The company will continue to strengthen cost control and resource management while seeking potential investment opportunities to enhance business and create new revenue sources[14]. Financial Position and Capital Management - As of December 31, 2023, the group's cash and cash equivalents were approximately HKD 5.48 million, an increase from HKD 2.80 million as of December 31, 2022[22]. - 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[31]. - The planned use of proceeds from the rights issue includes approximately HKD 2.25 million for investment in a joint venture and HKD 4.5 million for general working capital[31]. - The total net proceeds from the subscription I amounted to approximately HKD 2.6 million, with HKD 2.3 million allocated for repaying the group's borrowings and HKD 0.3 million for general working capital[32]. - The total net proceeds from the subscription II amounted to approximately HKD 3.5 million, intended for general working capital and/or potential new projects[32]. Governance and Compliance - The company has adopted a corporate governance code to protect shareholder interests and has complied with all applicable code provisions during the fiscal year 2023[62]. - The board consists of two executive directors and three independent non-executive directors, with no significant financial or business relationships among them[64]. - The company has implemented anti-corruption and reporting policies to promote integrity in operations[65]. - The board has adopted a three-tier risk management approach to identify, assess, and manage significant risks, with regular reporting to management and the board[97]. - The company has established a whistleblowing policy to provide guidance and reporting channels for employees and third parties to report suspected misconduct[99]. Employee and Workforce Management - The total number of employees, including directors, decreased to 105 as of December 31, 2023, from 133 in the previous year[58]. - Employee costs for the fiscal year 2023 amounted to approximately HKD 16.14 million, down from HKD 27.04 million in the fiscal year 2022, representing a decrease of about 40.5%[58]. - The employee turnover rate was 26.7%, with 28 employees leaving during the year[156]. - The average training hours per employee in 2023 was 24 hours for both male and female employees, with 100% of employees receiving training[162]. - The company provides competitive compensation and various internal training programs to attract and retain talented employees[58]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to integrating sustainable development principles into its strategic planning and daily operations to maintain competitiveness in the metal casting industry[119]. - The 2023 Environmental, Social, and Governance (ESG) report is prepared according to the GEM listing rules and aims to disclose the company's sustainable development policies and practices[120]. - The company aims to reduce energy consumption, greenhouse gas emissions, and water resources by 5% by 2030 based on 2023 levels[136]. - The company recognizes the importance of stakeholder engagement to identify and assess key environmental, social, and governance issues[123]. - The company has implemented various resource-saving measures and environmental education for employees[136]. Community Engagement and Social Responsibility - The group actively supports community development through cash donations and encourages employee participation in volunteer activities[171]. - The company has focused on community investment, particularly in areas such as education and health, to align its business activities with community interests[185]. - The company actively engages in community participation to understand and address the needs of the communities where it operates[185]. - The company has established effective communication channels with stakeholders, including annual reports and direct communication[132]. - The company has not identified any violations of anti-corruption laws during the reporting period[170].
吉盛集团控股(08133) - 2023 - 年度财报