Financial Performance - Huajin International Holdings Limited reported a revenue of HKD 1.2 billion for the fiscal year 2023, representing a year-on-year increase of 15%[2]. - The company achieved a net profit of HKD 300 million, which is a 20% increase compared to the previous year[2]. - The company's revenue for 2023 was approximately RMB 6,589.9 million, an increase of 41.3% compared to RMB 4,663.6 million in 2022[12]. - The net profit attributable to the owners of the company for 2023 was approximately RMB 85.7 million, recovering from a loss of RMB 165.3 million in 2022[12]. - The company's gross profit for 2023 was approximately RMB 296.6 million, compared to a gross loss of approximately RMB 20.1 million in 2022[115]. - In 2023, the gross profit margin was approximately 4.5%, compared to a gross loss margin of about 0.4% in 2022[116]. - The sales cost for 2023 increased to approximately RMB 6,293.3 million, an increase of RMB 1,609.6 million or 34.4% from RMB 4,683.7 million in 2022[109]. Operational Highlights - User data indicated a growth in active users by 25%, reaching a total of 500,000 users by the end of 2023[2]. - The company has launched a new product line that is expected to contribute an additional HKD 100 million in revenue in the next fiscal year[2]. - Sales volume of cold-rolled and galvanized steel products reached approximately 1,470,387 tons, a 53.5% increase from 958,126 tons in 2022[12]. - The average processing cost per ton increased by 24.4% to RMB 418 from RMB 336 in 2022[12]. - The company aims to enhance its production capacity and operational efficiency through significant investments in properties, plants, and equipment, totaling approximately RMB 389.2 million in 2023[17]. Strategic Outlook - The company provided a positive outlook for 2024, projecting a revenue growth of 10% to 12% driven by new product launches and market expansion[2]. - Huajin International is investing HKD 50 million in R&D for new technologies aimed at enhancing operational efficiency[2]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share within the next two years[2]. - Huajin International is considering strategic acquisitions to bolster its supply chain, with a budget of up to HKD 200 million allocated for potential deals[2]. Corporate Governance - The board emphasizes the importance of high corporate governance standards for stable and transparent operations, which attract investors and protect shareholder interests[39]. - The company has adhered to the corporate governance code throughout the year ending December 31, 2023[39]. - The management team includes experienced professionals with over 15 years in accounting and finance, ensuring effective oversight and strategic direction[36]. - The board consists of independent non-executive directors who contribute to audit, remuneration, and nomination committees, enhancing governance practices[30][31]. - The company has a strong focus on effective internal controls and independent policies to ensure accountability and transparency[39]. Risk Management - The company emphasizes the importance of effective risk management and internal control systems to mitigate exposure to major risks[93]. - There were no significant changes in the nature or scope of major risks that could adversely affect the company's financial condition or operations during the reporting period[93]. - The internal control system covers key financial, operational, and compliance monitoring to safeguard assets from unauthorized use[95]. - The board is responsible for evaluating and determining the nature and extent of risks the group is willing to accept[92]. Shareholder Information - The board does not recommend the payment of a final dividend for the year ended December 31, 2023[22]. - The company plans to propose a dividend distribution of approximately 30% of the net distributable profits for the fiscal year ending December 31, subject to shareholder approval[87]. - As of December 31, 2023, the company's distributable reserves amounted to approximately RMB 1.729 billion, a decrease from RMB 1.771 billion as of December 31, 2022[159]. - The total number of shares available for issuance under the share option scheme is capped at 60 million shares, representing 10% of the issued share capital post-listing[171]. Diversity and Inclusion - The company plans to appoint a female director by December 31, 2024, to enhance gender diversity on the board[69]. - As of December 31, 2023, the gender ratio among employees is 79% male and 21% female, with ongoing efforts to improve gender diversity in recruitment[70]. - The company has adopted a board diversity policy that considers various factors, including professional experience, skills, and gender[67]. Related Party Transactions - Significant related party transactions are detailed in the consolidated financial statements[200]. - The company has not entered into any significant transactions or arrangements that would create a conflict of interest for its directors[193]. - The independent non-executive directors confirmed that the controlling shareholders have fully complied with the non-competition agreement for the year ending December 31, 2023[199].
华津国际控股(02738) - 2023 - 年度财报