Financial Performance - The company's revenue increased by 5% to HKD 1,935,876,000 for the fiscal year ending December 31, 2023, compared to HKD 1,837,386,000 in the previous year[5]. - Net profit decreased significantly from HKD 21,452,000 to HKD 9,010,000 due to high operating costs and weak economic recovery in Hong Kong[5][16]. - Gross profit decreased to HKD 47,861,000, down 16.83% from HKD 57,514,000 in the previous year[196]. - Profit before tax was HKD 11,007,000, a decline of 54.91% compared to HKD 24,408,000 in 2022[196]. - Basic and diluted earnings per share decreased to HKD 3.22, down 57.93% from HKD 7.66 in 2022[196]. - The net profit for the year was HKD 9,010,000, contributing to a total comprehensive income of HKD 10,353,000, compared to HKD 21,188,000 in the previous year, indicating a decrease of about 51.2%[200]. - The company recognized a fair value gain of HKD 1,343,000 on equity investments during the year, contrasting with a fair value loss of HKD 264,000 in the previous year[200]. - The company declared dividends amounting to HKD 5,600,000 during the year, impacting retained earnings[200]. Assets and Liabilities - The total assets of the company as of December 31, 2023, amounted to HKD 232,062,000, with total equity of HKD 163,316,000 and total liabilities of HKD 68,746,000[17]. - The current ratio as of December 31, 2023, was approximately 3.3, down from 4.0 in the previous year[17]. - Cash and cash equivalents increased to HKD 110,498,000 from HKD 86,122,000 year-on-year[17]. - Current liabilities increased to HKD 64,555,000 from HKD 47,412,000 in the previous year[199]. - The company's equity attributable to owners increased to HKD 163,316,000 from HKD 158,563,000 in 2022[199]. - The company’s retained earnings increased to HKD 132,803,000 from HKD 122,258,000, showing a growth of approximately 8.7%[200]. Employee and Workforce - The number of employees increased to 65 as of December 31, 2023, compared to 48 in the previous year, with total employee compensation amounting to HKD 18,817,000, up from HKD 17,200,000[21]. - The employee compensation policy remains unchanged compared to the previous year, linking performance to rewards[21]. - Employee turnover rate for the fiscal year 2023 was 15.8% for those under 30 years old, 5.4% for ages 30 to 50, and 9.2% for those over 50[56]. - The total training hours provided to employees in fiscal year 2023 was 107 hours, with an average of 2 hours per trained employee, a decrease from 133 hours and 3.6 hours in fiscal year 2022[63]. - 43% of employees received training in fiscal year 2023, down from 77% in fiscal year 2022[63]. Environmental, Social, and Governance (ESG) - The report covers the company's ESG management approach and performance for the fiscal year 2023, with no changes in the reporting scope compared to the previous year[26]. - The company has established an ESG governance framework, with the board responsible for overseeing significant ESG issues and performance[33]. - Stakeholder engagement is prioritized, with communication channels established to address concerns related to business strategy, financial performance, and employee welfare[36]. - The company aims to align its development direction with stakeholder expectations through ongoing evaluation of ESG issues[39]. - Energy consumption decreased by 1.8% to 110,742 kWh in the fiscal year 2023, compared to 112,821 kWh in 2022[46]. - Total greenhouse gas emissions increased to 81.0 tons in 2023 from 78.3 tons in 2022, with scope 1 emissions at 0.0 tons and scope 2 emissions at 69.8 tons[44]. - The company has implemented measures to reduce harmful waste, with non-hazardous waste generated at 1,525 kg in 2023, compared to 1,413 kg in 2022[44]. - The company has committed to using electric vehicles to reduce greenhouse gas emissions from transportation[43]. - The company has established a recycling program for electronic waste, complying with local regulations for the disposal of regulated electronic equipment[50]. - The company plans to continue reviewing and developing ESG policies and goals to improve its ESG performance in the future[41]. Corporate Governance - The board of directors consists of eight members, including three executive directors and three independent non-executive directors, ensuring a diverse range of expertise[86]. - The company emphasizes strict adherence to ethical guidelines, with all employees required to comply with the established code of conduct[77]. - The company has established a governance policy to ensure compliance with legal and regulatory requirements[105]. - The board is collectively responsible for fulfilling corporate governance duties, which have been formally incorporated into its responsibilities[102]. - The audit committee is responsible for monitoring the integrity of financial statements before submission to the board[96]. - The attendance rate for the board meetings and committees in 2023 was 100% for all executive directors, with each attending all 6 board meetings and relevant committee meetings[107]. - The company has made amendments to its articles of association to comply with listing rules regarding shareholder protection[115]. - The independent directors have reviewed the compliance of the non-competition agreement established by the controlling shareholder, confirming adherence[113]. - The company is committed to enhancing corporate governance and ensuring compliance with regulatory requirements[110]. Shareholder Information - The company proposed a final dividend of HKD 0.015 per share, totaling HKD 4,200,000[133]. - As of December 31, 2023, the company's distributable reserves amounted to HKD 122,372,000, including share premium and special reserves of HKD 104,521,000[138]. - The board's ability to declare dividends depends on profitability, capital requirements, and overall financial condition[140]. - The company has a policy to declare dividends based on operating performance and financial health[140]. - Shareholders holding at least 10% of voting rights can request a special general meeting, ensuring their rights are protected[116]. Business Strategy - The company plans to diversify its product portfolio and increase product types to overcome current challenges[12]. - The management is committed to improving business strategies to enhance resilience and deliver higher returns to shareholders[12]. - The company aims to expand its product supply and brand portfolio while enhancing its distribution network to increase market share[84]. - The company is a leading mobile phone distributor in Hong Kong, representing brands such as Samsung, Honor, and TCL, and has been listed on the Hong Kong Stock Exchange since January 15, 2015[25].
新龙移动(01362) - 2023 - 年度财报