Financial Performance - Green International Holdings Limited reported total revenue of approximately HKD 48.8 million for the fiscal year 2023, representing an increase of about 3.38% compared to HKD 47.2 million in 2022[15]. - The company's gross profit for the year was approximately HKD 28.8 million, an increase of about 10.25% from HKD 26.1 million in the previous year, resulting in a gross margin of 59.04%[17]. - Direct costs and operating expenses decreased to approximately HKD 20.0 million, down about 5.15% from HKD 21.1 million in 2022, primarily due to reduced product costs[16]. - Selling expenses increased to approximately HKD 13.3 million, reflecting a rise of about 4.93% compared to HKD 12.6 million in the previous year, consistent with revenue growth[18]. - Administrative expenses decreased to approximately HKD 22.0 million, a reduction of about 7.69% from HKD 23.8 million in 2022, attributed to cost control measures[19]. - The net loss from continuing operations for the year was approximately HKD 8,791,000, an improvement from HKD 13,814,000 in 2022[24]. - As of December 31, 2023, the total assets of the group were approximately HKD 136,201,000, down from HKD 168,637,000 in 2022, with total liabilities of approximately HKD 50,759,000[31]. - The group's cash and bank balances as of December 31, 2023, were approximately HKD 66,826,000, compared to HKD 81,742,000 in 2022[32]. - The debt-to-equity ratio as of December 31, 2023, was approximately 123%, down from 139% in 2022[33]. - The current ratio as of December 31, 2023, was approximately 1.24, compared to 1.72 in 2022[31]. - The group's financing costs for the year were approximately HKD 2,278,000, down from HKD 3,330,000 in 2022[23]. Business Operations - The healthcare and medical business faced challenges due to market competition and increased operating expenses related to health measures during the pandemic[9]. - The beauty and fitness business continued to perform poorly, impacted by changes in consumer behavior post-pandemic and ongoing industry challenges[12]. - The relocation of the subsidiary, Zizhong Operations Company, was completed in 2023, providing a larger and more equipped operational facility, enhancing operational capacity[10]. - The company plans to closely monitor business and market developments for potential expansion opportunities, although major acquisitions or expansion plans are currently not intended due to market stability concerns[14]. - The main business activities include providing healthcare and medical services, as well as beauty and fitness products and related services[61]. Impairment and Assets - The company has not recognized any impairment losses for properties, plants, and equipment as of December 31, 2023, based on independent valuation assessments[21]. - The impairment losses for trademarks, professional skills, properties, and equipment in the beauty and fitness business amounted to approximately HKD 4,369,000, HKD 1,387,000, and HKD 2,340,000 respectively, compared to HKD 1,295,000, HKD 651,000, and HKD 1,039,000 in 2022[22]. Shareholder Information - The board of directors does not recommend the payment of any dividends for the year ended December 31, 2023, consistent with the previous year[49]. - As of December 31, 2023, the major shareholders include Ms. Zhou Cuiqiong with 370,071,730 shares, representing approximately 56.08% of the total issued shares[82]. - The percentage of shares held by Mr. Liu Dong is approximately 3.81%, with a total of 25,146,000 shares[81]. - The company has not established any arrangements for directors to benefit from purchasing shares or debt securities of the company or any other corporate body during the year[76]. - The company has not engaged in any significant transactions, arrangements, or contracts where directors have a substantial interest during the year[77]. Corporate Governance - The board of directors presented the annual report and audited consolidated financial statements for the year ended December 31, 2023[60]. - The independent non-executive directors have provided annual confirmations regarding their independence[80]. - The company has complied with the public float requirements under the listing rules throughout the year[103]. - The audit committee consists of three independent non-executive directors, ensuring compliance with applicable accounting standards and listing rules[108]. - The company has established an internal audit function with the assistance of an external consultant to enhance risk management and internal control systems[113]. - The board of directors is responsible for the overall strategy and performance monitoring, with a focus on sustainable success and ethical governance[114]. - The company has adopted a shareholder communication policy to ensure timely and equal access to information for shareholders and potential investors[167]. - The board of directors will review the implementation and effectiveness of the shareholder communication policy annually[170]. Environmental and Social Responsibility - The company emphasizes its commitment to environmental protection and sustainable development, implementing measures such as promoting the use of eco-friendly paper and reducing energy consumption[106]. - The company aims to reduce greenhouse gas emissions by 5% by 2026, using 2021 as the baseline year[195]. - The company promotes waste reduction initiatives, including green procurement and waste classification in all office locations[198]. - The company is focused on improving product safety and quality, customer satisfaction, and employee health and safety as key ESG priorities[188]. - The company is actively responding to national carbon peak and carbon neutrality goals, promoting green operations[195]. Employee and Management Information - The group employed 179 staff members in Hong Kong and China as of December 31, 2023, with compensation evaluated based on individual and group performance[50]. - The employee gender ratio as of December 31, 2023, was 15:85 (male: female), highlighting the company's commitment to diversity[153]. - The company has implemented a whistleblowing policy to provide guidance and reporting channels for employees and third parties[157]. - The company has a zero-tolerance policy towards fraud and corruption, with regular reviews of related policies to ensure effectiveness[158]. - The company provides training and updates to directors regarding compliance with listing rules and corporate governance practices[131]. Audit and Compliance - The independent auditor, Guo Wei Accounting Firm, is responsible for the audit report included in the annual report[135]. - The audit committee has reviewed the financial statements for the year, confirming they are prepared in accordance with applicable accounting standards[109]. - The audit committee's responsibilities include reviewing financial statements and monitoring the independence of external auditors[139]. - The company has established a risk management and internal control system, which was deemed effective with no significant deficiencies identified during the review[152].
格林国际控股(02700) - 2023 - 年度财报