Financial Performance - The share of profits from joint ventures for 2023 is HK$49.5 million, a significant recovery from a loss of HK$44.1 million in 2022[2]. - The earnings per share increased by 35.8%, reaching HK$0.32 in 2023 compared to HK$0.23 in 2022[4]. - The current ratio improved to 4 times in 2023, up from 1.5 times in 2022[4]. - The total interim dividend paid was HK$0.03 per share, amounting to HK$14.354 million[10]. - The group reported a profit after income tax, with specific figures detailed in the financial statements[6]. - The financial health indicators, including net debt to total equity ratio, are detailed in the financial statements[3]. - The financial statements for the year have been audited by PricewaterhouseCoopers, who are eligible for re-appointment[92]. - The company has a comprehensive financial report that includes a five-year financial summary, indicating stable financial performance[200]. Customer Concentration - The largest customer accounted for 44% of total sales, while the combined sales from the top five customers represented 76%[18]. Environmental, Social, and Governance (ESG) Commitment - The company has committed to environmental responsibility, focusing on reducing emissions and waste[13]. - The Company has complied with the "comply or explain" provisions set out in the Stock Exchange ESG Guide for the financial year of 2023[124]. - The Group's ESG strategy aims for high-level positive outcomes in five major areas, including establishing a supportive workplace and ethical governance[126]. - The report is prepared using consistent methodologies, allowing for year-to-year comparison and identification of significant variations[137]. - The company is dedicated to high ethical governance and providing safe products through a well-established supplier selection system[151]. - The materiality matrix highlights key areas such as business strategy, risk management, and anti-corruption as priorities for the company[142]. - The company actively participates in local community activities and charitable events to create shared value and support those in need[152]. - The Group's performance on environmental and social matters is detailed in the Environmental, Social and Governance Report of this Annual Report[113]. Environmental Impact - In 2023, the company generated nitrogen oxides (NOx), sulfur oxides (SOx), and particulate matter (PM) emissions of 1,614.2 kg, 1.05 kg, and 115.62 kg respectively, showing a decrease compared to 2022 due to reduced local vehicle transportation[177]. - The company's carbon dioxide (CO2) emissions were 17,619 tons, with electricity consumption at 29,833,158 kWh, reflecting a 0.26% increase from 2022 due to the commencement of mass production at the Vietnam plant[177]. - The company is committed to enhancing environmental facilities and improving capabilities in processing and reducing hazardous waste and emissions during manufacturing[177]. - The company has implemented measures to maintain vehicles in good condition to minimize air emissions[177]. - The company aims to replace part of its electricity consumption with solar energy and has explored energy-saving opportunities, such as applying iPaint to factory roofs[166]. - The company has replaced common lamps with LED lighting and upgraded its HVAC system to improve energy efficiency[166]. - The company is focused on minimizing the impacts on the environment and natural resources while continuously improving environmental sustainability[174]. - The company conducts regular environmental testing through government-certified laboratories to ensure compliance with international standards and regulations[177]. - In 2023, water consumption was 200,521 tons, a decrease of 31% compared to 2022, mainly due to improved water usage efficiency[180]. - Hazardous waste increased by 34.4% to 152 tons in 2023, primarily due to an increase in PCB scrap materials and waste activated carbon[180]. - Non-hazardous waste increased by 18.9% to 1,147 tons, mainly due to the commencement of mass production at the Vietnam plant in 2023[180]. Corporate Governance - The company has established various committees, including the Remuneration Committee and Risk Management Committee, to ensure effective governance and oversight[196]. - The Company has maintained Directors' and officers' liability insurance throughout the year, providing appropriate cover for certain legal actions against its Directors and officers[64]. - There were no significant transactions, arrangements, or contracts involving Directors with material interests during the year[61]. - The Company has not entered into any arrangements to enable Directors or chief executives to acquire benefits by means of acquisition of shares or debentures during the year[58]. - The company has a strong management team with over 30 years of experience in electronics manufacturing, enhancing its market position[197]. - The company continues to leverage its experienced leadership to navigate market challenges and pursue growth opportunities[197]. Share Option Scheme - The total number of shares available for issue under the share option scheme is 47,848,379 shares, representing 10% of the issued shares of the Company as of the date hereof[56]. - The overall limit on the number of shares which may be issued upon exercise of all outstanding options granted and yet to be exercised under the Scheme and any other share option schemes of the Company must not exceed 30% of the shares of the Company in issue from time to time[56]. - The option period of a particular option is the period during which the option can be exercised, and it shall not expire later than 10 years from the date of grant[58]. - The exercise price shall be determined by the Board but must not be less than the higher of the closing price on the date of grant, the average closing price for the 5 business days immediately preceding the date of grant, or the nominal value of the shares[58]. - The Scheme shall remain in force for 10 years, commencing on June 26, 2020, up to and including June 25, 2030[58]. - The minimum period for which an option must be held before it can be exercised is 1 year, unless otherwise determined by the Board[58]. - No equity-linked agreement was entered into by the Company during the year, except for the share option scheme which subsisted at the year end[72]. - The company has not issued any share options under the plan since its adoption, indicating a cautious approach to equity compensation[198]. - As of January 1, 2023, and December 31, 2023, the number of share options available for grant under the plan is 47,848,379[198].
王氏国际(00099) - 2023 - 年度财报