Financial Performance - The group's revenue for the fiscal year 2023 decreased by 2.4% to approximately HKD 212.6 million from HKD 217.9 million in 2022[7]. - Gross profit for the fiscal year 2023 was approximately HKD 54.9 million, a decrease of 5.3% from HKD 58.0 million in 2022, resulting in a gross margin of 25.8%[7]. - Net profit attributable to owners for the fiscal year 2023 was approximately HKD 0.5 million, down from HKD 8.6 million in 2022[7]. - EBITDA for the fiscal year 2023 was approximately HKD 28.6 million, compared to HKD 34.1 million in 2022[7]. - Revenue from bonding wire products decreased by 5.9% to approximately HKD 99.7 million, while revenue from packaging adhesive products increased by 5.6% to approximately HKD 106.0 million[15]. - Other income recorded a net gain of approximately HKD 5.6 million, up from HKD 4.3 million in the previous year, influenced by a one-time government subsidy of approximately HKD 2.6 million[17]. - Financial costs increased significantly by 115.4% to approximately HKD 4.1 million due to higher bank borrowings and rising interest rates[19]. - The group’s available distributable reserves as of December 31, 2023, were approximately HKD 143.3 million, down from HKD 156.2 million as of December 31, 2022[135]. Market and Growth Prospects - In the second half of 2023, the group's revenue and gross profit increased by 17.0% and 19.2% respectively compared to the same period in 2022[13]. - The company anticipates significant growth in demand for IGBT and other high-power semiconductor products due to the rapid development of 5G technology[9]. - The semiconductor market is expected to grow at a compound annual growth rate of 7.7% from 2024 to 2032, reaching a market value of approximately USD 1,218.58 billion by 2032[24]. - The group is focused on innovation in advanced semiconductor packaging materials to capitalize on expected market recovery opportunities[14]. - The company plans to launch three new series of packaging adhesive products and has developed a new type of copper alloy bonding wire, which has already received orders from top customers in China[25]. - The group is actively seeking potential acquisition targets and will continue to enhance its R&D capabilities to capture opportunities in emerging markets such as 5G, electric vehicles, and artificial intelligence[26]. Corporate Governance - The board of directors consists of both executive and non-executive members, ensuring a balanced governance structure[154]. - The company has adopted a board diversity policy to enhance efficiency, considering factors such as gender, age, and professional experience[83]. - The company has complied with GEM listing rules and corporate governance codes, ensuring accountability and transparency[70]. - The company has a structured approach to risk management and internal controls, which is regularly reviewed[78]. - The audit committee, consisting of three independent non-executive directors, reviewed the group's financial reporting and internal control systems during the year[94]. - The board has established a target for gender diversity and will actively consider various aspects of board diversity[86]. - The company provides ongoing professional development training for all directors to ensure they remain informed and capable[90]. Sustainability and Social Responsibility - The company is committed to environmental sustainability, adhering to environmental laws and implementing effective resource utilization measures[147]. - The ESG report emphasizes the company's commitment to sustainable development, focusing on environmental protection, employee welfare, and community investment[197]. - The company has implemented green office measures to reduce energy consumption and promote recycling[147]. - The company made charitable donations of HKD 147,000 during the review year, compared to HKD 33,500 in 2022[188]. Risk Management - The group’s performance is significantly influenced by the economic, political, and legal developments in China, where most of its assets and operations are located[142]. - The group has implemented a cautious treasury policy, maintaining cash reserves in Hong Kong to manage risks associated with its operations in China[142]. - The company has adopted a policy for timely and accurate disclosure of significant information, ensuring compliance with insider information regulations[111]. - The board is responsible for maintaining effective risk management and internal control systems, which are reviewed at least annually[107]. Shareholder Information - No interim dividend was declared, and no final dividend is recommended for the year ending December 31, 2023[31]. - The company has adopted a dividend policy prioritizing cash distribution to shareholders, with the payout ratio determined by the board based on financial performance and future outlook[189]. - The company maintains sufficient public float as required by GEM listing rules as of the report date[189].
骏码半导体(08490) - 2023 - 年度财报