Employee Statistics and Diversity - The company reported a total employee count of 7,631, with 4,151 in Hong Kong and 3,480 in mainland China[3]. - The gender distribution shows 46.7% of employees are female in Hong Kong, while in mainland China, the female percentage is 8.6%[13]. - The company has a total of 310 full-time employees and 7,631 part-time employees across various regions[5]. - The employee turnover rate in Hong Kong is 35.8% for the age group 30 to 50 years[13]. - The company promotes equal employment opportunities and prohibits discrimination based on gender, race, religion, age, and other factors[15]. - The gender ratio among employees is approximately 1:0.9, indicating a commitment to gender diversity[188]. Financial Performance - The company's revenue for the year was HKD 1,418,994,000, a decrease of 24.2% compared to HKD 1,874,424,000 in 2022[46]. - Gross profit was HKD 476,364,000, down 25.3% from HKD 637,296,000 in the previous year, with a slight decline in gross margin to 33.6%[46]. - Shareholders' profit attributable to the company was HKD 117,949,000, reflecting a 39.6% decrease from HKD 195,390,000 in 2022[46]. - Operating profit decreased to HKD 190,204, a decline of 28.0% compared to HKD 264,059 in 2022[182]. - Net profit for the year was HKD 127,808, representing a decrease of 40.0% from HKD 213,307 in 2022[182]. - Basic earnings per share for 2023 was HKD 27.5473, down from HKD 45.8728 in 2022, reflecting a decline of 40.0%[183]. - The company reported a net financial loss of HKD 13,177, slightly up from HKD 13,074 in the previous year[182]. Community Engagement and Social Responsibility - The company donated RMB 1,000,000 to Nanjing University and RMB 500,000 to Yongchun Charity Association as part of its community investment efforts[20]. - The company has received public recognition for its efforts in social and environmental initiatives in 2023[87]. - The company has set targets for emissions reduction and has taken steps to achieve these goals, demonstrating commitment to sustainability[90]. - The company has not encountered any issues with water sourcing, ensuring sustainable water usage[90]. Operational Developments - A new factory in Mexico was completed in December 2023, enhancing the company's rapid production capabilities and market share in the hat industry[44]. - The new factory in Mexico is strategically located less than two kilometers from the US border, significantly reducing delivery times and logistics costs for US-bound orders[59]. - The trading division has begun producing wallets and belts in its Bangladesh factory to reduce procurement costs and improve delivery speed[61]. - The company focused on optimizing factory operations and utilizing automated production equipment to reduce production costs[59]. Risk Management and Compliance - The company adheres to all relevant labor laws and regulations, ensuring no child labor is employed in its operations[26]. - The group faces foreign exchange risks due to currency fluctuations, particularly with GBP, which could impact after-tax profits by approximately HKD 299,000 if GBP fluctuates by 5%[73]. - The group has diversified its investment portfolio to manage price risk associated with its investments in listed and unlisted securities[75]. - The company has established policies to ensure compliance with the Personal Data (Privacy) Ordinance in Hong Kong, emphasizing data protection[82]. - The company has not faced any concluded corruption lawsuits during the reporting period, indicating a strong anti-corruption stance[96]. Corporate Governance - The company has adopted the corporate governance code principles as per the Hong Kong Stock Exchange's listing rules and has complied with all code provisions for the year ending December 31, 2023[152]. - The board consists of six executive directors and three independent non-executive directors, ensuring a balanced composition for effective independent judgment[163]. - The company has maintained a gender-diverse board with one female and seven male directors, which is considered satisfactory under the diversity policy[168]. - The board has undergone corporate governance training to enhance its effectiveness[166]. - The company has established a clear distinction between the roles of the board and daily management to ensure balanced power distribution[160]. Health and Safety - The company reported no fatalities due to work-related incidents over the past three years, maintaining a safety record of zero[91]. - There were no workdays lost due to work-related injuries, indicating effective health and safety measures[91]. - The company did not recall any products for safety or health reasons, reflecting strong product responsibility[96]. - There were no complaints received regarding products and services, showcasing high customer satisfaction[96].
飞达控股(01100) - 2023 - 年度财报