Financial Performance - The total revenue for the year ended December 31, 2023, was approximately HKD 29,688,000, representing a 27% increase from HKD 23,306,000 in 2022[4] - The loss for the year improved to approximately HKD 12,567,000, a 76% reduction from HKD 51,972,000 in 2022[4] - Revenue from energy-saving solutions in China increased by 27% to approximately HKD 29,679,000, compared to HKD 23,306,000 in 2022[5] - The loss in the energy-saving solutions segment decreased by 89% to approximately HKD 4,967,000 from HKD 44,131,000 in 2022[5] - The company's revenue increased by 27% from HKD 23,306,000 for the year ended December 31, 2022, to HKD 29,688,000 for the year ended December 31, 2023[43] Assets and Liabilities - As of December 31, 2023, the total assets of the group were approximately HKD 57,913,000, a decrease from HKD 60,171,000 in 2022, primarily due to a reduction in prepaid expenses by approximately HKD 10,858,000 and a decline in finance lease receivables by HKD 1,797,000[13] - The total liabilities of the group decreased to approximately HKD 15,334,000 as of December 31, 2023, down from HKD 40,726,000 in 2022, mainly due to loan repayments and recognition of contract liabilities as sales[13] - The net current assets of the group as of December 31, 2023, were approximately HKD 34,283,000, significantly up from HKD 8,035,000 in 2022[15] - Cash and bank balances increased to approximately HKD 37,986,000 as of December 31, 2023, compared to HKD 26,985,000 in 2022[15] - The debt-to-asset ratio as of December 31, 2023, was 17.3%, a decrease from 37.2% in 2022, with other borrowings at HKD 10,000,000[15] Share Capital and Financing - The company issued a total of 313,998,544 rights shares and 188,288,000 new shares in 2023, increasing the total issued ordinary shares to 1,130,283,633 as of December 31, 2023, from 627,997,089 in 2022[16] - The net proceeds from the rights issue completed on January 16, 2023, were approximately HKD 29,200,000, allocated for repaying outstanding borrowings and funding existing and new energy-saving projects[23] - The company completed a placement of 188,288,000 new shares at a price of HKD 0.04 per share, raising approximately HKD 7,080,000 for general working capital[24] - A share consolidation will take effect on February 8, 2024, consolidating every ten existing shares into one new share[26] - The company proposed a rights issue on January 18, 2024, offering one new share for every two existing shares at a subscription price of HKD 0.35 per share[27] Employee and Operational Metrics - The total employee cost for the year ended December 31, 2023, was approximately HKD 6,616,000, compared to HKD 6,399,000 in 2022, with an increase in the number of employees from 14 to 20[20] - The company employed a total of 21 employees in 2023, an increase from 19 in 2022, with a gender breakdown of 15 males and 5 females[186] - Employee turnover rate decreased significantly from approximately 36% in 2022 to about 5% in 2023, with 1 female employee leaving in 2023[192] - The average training hours per employee decreased from approximately 13 hours in 2022 to about 9 hours in 2023, with a total of 172 training hours provided in 2023[200] - The company maintained a high standard of health and safety, with no work-related fatalities reported in the past three years[197] Environmental and Social Responsibility - The company is committed to environmental protection policies and practices, including energy-saving measures in the office[56] - The company aims to reduce greenhouse gas emissions and improve waste management as part of its environmental goals[164] - Energy consumption increased from 5,342 kWh in 2022 to 10,080 kWh in 2023, representing an 89% increase[173] - Greenhouse gas emissions rose from approximately 4.45 tons of CO2 equivalent in 2022 to 8.60 tons in 2023, a 90% increase[175] - The company produced no hazardous waste during the year, with total non-hazardous waste decreasing by 7% from 23,624 kg in 2022 to 21,987 kg in 2023[177] Corporate Governance - The company has adopted the corporate governance code and complied with its principles, with some deviations noted regarding the roles of the chairman and CEO[109] - The board consists of seven directors, including four executive directors and three independent non-executive directors[116] - The company has established three committees: the Nomination Committee, the Remuneration Committee, and the Audit Committee, each with defined terms of reference[124] - The Nomination Committee is composed of three independent non-executive directors, ensuring independent oversight in director appointments[126] - The audit committee is tasked with ensuring the coordination of the internal audit function and the work of the external auditor[143] Risk Management - The company has established risk management procedures to address all significant risks related to its business[149] - The board is responsible for evaluating the nature and extent of risks the group is willing to take to achieve its strategic objectives[149] - The internal control and risk management systems are designed to minimize potential losses related to business risks[151] - The external consultant engaged for internal audit functions did not identify any significant deficiencies in the internal control system during the year[151] - The audit committee discussed the effectiveness of the overall internal control and risk management systems, including financial, operational, and compliance controls[146]
信能低碳(00145) - 2023 - 年度财报