Financial Performance - For the year ended December 31, 2023, the Group recorded revenue of approximately HK$392,220,000, a decrease of 40.2% compared to HK$655,518,000 in 2022[17]. - The Group's profit for the year was approximately HK$513,000, down from HK$27,642,000 in 2022, representing a decline of 98.1%[17]. - Gross profit for 2023 was HK$68,364,000, with a gross profit margin of 17.4%, compared to HK$103,810,000 and a margin of 15.8% in 2022[10]. - Operating profit decreased to HK$3,558,000 in 2023, down from HK$34,834,000 in 2022, reflecting a significant decline in operating profit margin to 0.9%[10]. - The Group's operational costs amounted to approximately HK$323,856,000, representing a decrease of approximately HK$227,852,000 or 41.3% compared to the same period last year[36]. Asset and Liability Management - Current assets as of December 31, 2023, were HK$189,322,000, while current liabilities were HK$138,645,000, resulting in net current assets of HK$50,677,000[13]. - The Group's total assets decreased to HK$354,039,000 in 2023 from HK$413,132,000 in 2022, indicating a reduction of 14.3%[13]. - The gearing ratio improved to 23.8% in 2023, down from 30.4% in 2022, reflecting a stronger balance sheet position[13]. - As of December 31, 2023, the Group held bank balances and cash of approximately HK$106,505,000, a decrease from approximately HK$147,991,000 in 2022[48]. Operational Performance - Container throughput at Hong Kong port decreased by 13.7% compared to the previous year, impacting the Group's operations[17]. - The total shipment volume for the Group's feeder shipping services, carrier owned container services, and barge services decreased by 125,856 TEUs or 26.1%, from 482,364 TEUs to 356,508 TEUs[31]. - The sea freight forwarding agency services experienced a decrease in shipment volume of 558 TEUs or 6.4%, from 8,685 TEUs to 8,127 TEUs[32]. Client and Market Strategy - The Group aims to negotiate with shipowners to reduce vessel leasing costs and improve vessel utilization rates to enhance efficiency and service[22]. - The Group has successfully secured several new clients to expand revenue streams despite a challenging operating environment[21]. ESG and Sustainability Initiatives - The company emphasizes its commitment to sustainable development, integrating environmental, social, and governance (ESG) measures into its operations[71]. - The Group's ESG strategy aims to achieve sustainable development goals by ensuring compliance with the industry's highest ESG standards through effective management processes and strategies[98]. - The Group recognizes the importance of effective ESG risk management for achieving robust and long-term development, particularly in addressing environmental risks in the shipping industry[99]. - The Group is committed to continuously implementing and enhancing ESG strategies to create value for shareholders, customers, employees, and communities[103]. Employee and Workplace Management - As of December 31, 2023, the Group had a total workforce of 182 employees, with 144 located in Mainland China and 38 in Hong Kong[116]. - The employee turnover rate was 15% for females and 10% for males, with a total turnover rate of 19% for employees under 30 years old[117]. - The Group reported zero work-related fatalities and zero lost days due to work injury for the year ended December 31, 2023[121]. - A total of 182 training hours were provided to employees during the year, emphasizing the importance of employee development[126]. Environmental Impact and Compliance - The Group strictly adheres to all environmental protection laws and regulations, including the "Environmental Protection Law of the People's Republic of China"[154]. - The Group encourages employees and suppliers to reduce environmental impact and comply with environmental policies[155]. - The Group's gas oil consumption surged by 67% in 2023 compared to the previous year, leading to a significant increase in overall greenhouse gas emissions[163]. - Greenhouse gas emissions reached 36,599.13 tonnes in 2023, up from 23,651.21 tonnes in 2022, exceeding the target of ≤ 19,559.53 tonnes by 2030[166]. Governance and Compliance - The Group adheres to various laws and regulations regarding anti-corruption, including the "Prevention of Bribery Ordinance" in Hong Kong and multiple laws in Mainland China[144]. - The Group has implemented a whistleblowing policy to combat fraud and corruption, allowing employees to report misconduct confidentially[145]. - The Group's governance framework includes transparency, accountability, and alignment with ESG values to promote sustainable development[110].
永丰集团控股(01549) - 2023 - 年度财报