Corporate Recognition and ESG Efforts - The company has received the "Outstanding Listed Company Award 2023" from prominent media in Mainland China and Hong Kong, recognizing its performance in corporate development and ESG efforts[5] - The company has identified 21 key environmental, social, and governance issues through stakeholder communication and prioritization processes[17] - The company aims to continuously optimize internal data collection processes and gradually expand the scope of disclosures related to ESG[1] - The company emphasizes the importance of stakeholder feedback to enhance its ESG performance[4] - The company has made progress in integrating ESG considerations into operational decision-making and aims to create long-term value for stakeholders[5] Food Safety and Quality Management - The company implements multiple management systems to ensure food safety and quality, which are critical for maintaining customer trust[19] - Sunshine Bread has established an internal halal committee to oversee compliance with halal standards and procedures for products manufactured and distributed in Malaysia[24] - The company conducts regular audits to verify compliance with food safety requirements, ensuring that products meet quality standards[21] - The company has established standard procedures for maintaining hygiene and addressing pest issues in public areas[49] Employee Statistics and Development - The total number of employees is 1,099, with a gender distribution of 50% male (553) and 50% female (546) in 2023[51] - Employee turnover rate decreased to 47% from 61% in the previous year, with male turnover at 37% and female turnover at 58%[51] - The workforce is divided by age: 22% under 30 years, 50% between 30 and 49 years, and 28% over 50 years[51] - The employee distribution by employment type shows 76% full-time and 24% part-time[51] - The company has committed to continuous employee development, emphasizing skill enhancement and professional knowledge[34] - Total training participants rose to 573 in 2023, representing 52% of employees, up from 458 (45%) in 2022[54] - The average training hours per employee decreased slightly to 5.8 hours in 2023 from 5.9 hours in 2022[54] - The number of training hours for male employees was 7.2 hours in 2023, compared to 6.2 hours in 2022[54] - The number of training hours for female employees decreased to 4.7 hours in 2023 from 5.5 hours in 2022[54] - The number of management training participants increased for both male (51) and female (35) in 2023[54] - The company continues to implement various training programs to enhance employee skills in line with industry standards[59] Workplace Health and Safety - The company recorded 18 workplace injury cases this year, each investigated thoroughly, with preventive measures implemented to avoid recurrence[33] - In 2023, the number of work-related deaths was 21, compared to 0 in 2022[54] - The number of reportable work-related injuries increased to 22 in 2023 from 18 in 2022, with an injury rate of 1.6% per 100 employees[54] - The company actively encourages employees to provide feedback on workplace health and safety improvements[32] - The company has not reported any violations related to advertising, labeling, or privacy issues this year[50] Environmental Impact and Sustainability - The company has implemented energy-saving technologies and improved operational processes to reduce emissions[43] - The company reported a total greenhouse gas emissions of X tons, with a target to reduce emissions by Y% over the next Z years[66] - The total hazardous waste generated was A tons, while non-hazardous waste amounted to B tons, indicating a focus on waste management[66] - Direct energy consumption totaled C kilowatt-hours, with a goal to improve energy efficiency by D%[68] - The total water consumption was E cubic meters, with plans to achieve a water efficiency target of F%[68] - The company aims to implement sustainable resource measures, including the use of renewable energy sources[68] - New product development initiatives are underway, focusing on environmentally friendly materials and processes[68] - The company has set waste reduction targets and is taking steps to achieve these goals[66] - The management is committed to complying with relevant environmental regulations and improving overall sustainability practices[66] - In 2023, nitrogen oxide emissions increased to 27,667.9 kg from 19,872.5 kg in 2022, attributed to the expansion of food operations in Malaysia[9] - Total greenhouse gas emissions reached 11,165.3 metric tons CO2 equivalent in 2023, up from 9,605.7 metric tons in 2022[9] - Total energy consumption rose to 48,922.1 MWh in 2023, compared to 31,784.7 MWh in 2022, indicating a significant increase in operational energy use[94] - Diesel consumption surged to 26,444.7 MWh in 2023 from 7,843.0 MWh in 2022, driven by increased transportation needs for food operations[95] - Water consumption increased to 100,571.7 cubic meters in 2023, up from 78,311.3 cubic meters in 2022, due to the opening of new Chatterbox Cafés[94] - The density of greenhouse gas emissions was recorded at 0.123 metric tons CO2 equivalent per square meter in 2023, compared to 0.106 in 2022[9] - The total amount of packaging materials used decreased to 105.9 metric tons in 2023 from 127.9 metric tons in 2022[93] - The density of packaging materials per million HKD revenue improved to 0.13 metric tons in 2023 from 0.19 in 2022[93] - The increase in natural gas consumption to 6,988.3 MWh in 2023 from 9,632.4 MWh in 2022 was due to improved energy efficiency in production processes[95] Financial Performance - The company reported a net loss of HKD 68,682,000 for 2023, compared to a profit of HKD 144,111,000 in 2022, representing a significant decline[128] - Total revenue for 2023 was HKD 813,522,000, an increase from HKD 677,773,000 in 2022, marking a growth of approximately 20%[128] - The gross profit margin improved, with total profit amounting to HKD 502,214,000 in 2023, up from HKD 385,093,000 in the previous year[128] - The company incurred financing costs of HKD 111,030,000, which increased from HKD 71,263,000 in 2022, indicating a rise in borrowing costs[128] - The share of profits from joint ventures was HKD 960,000, a recovery from a loss of HKD 39,694,000 in 2022[128] - The basic and diluted loss per share for the company was HKD 0.07, down from a profit of HKD 0.25 per share in the previous year[128] - The company recorded a fair value loss on investment properties of HKD 26,523,000, compared to a loss of HKD 24,311,000 in 2022[128] - Administrative expenses rose to HKD 442,360,000 from HKD 420,678,000, reflecting increased operational costs[128] - Other income decreased significantly to HKD 1,695,000 from HKD 16,483,000 in 2022, indicating a decline in ancillary revenue streams[128] - The company reported a total comprehensive loss of HKD 293,212,000 for 2023, a substantial improvement from a loss of HKD 1,018,565,000 in 2022[128] - As of December 31, 2023, the total equity of the company was HKD 12,909,665,000, with a loss for the year amounting to HKD 293,212,000[134] - The company reported a cash and cash equivalents balance of HKD 868,547,000 at year-end[137] Assets and Liabilities - The fair value of investment properties as of December 31, 2023, was HKD 663,000,000, with a recognized fair value loss of HKD 27,000,000 in the profit and loss statement[149] - The company's share of losses from joint ventures amounted to HKD 184,445,000 for the year[134] - The carrying value of the company's interest in Lippo ASM Asia Property Limited was HKD 10,312,000,000 as of December 31, 2023[144] - The carrying value of the company's interest in TIH Limited was HKD 286,000,000 as of December 31, 2023[147] - The company had a total comprehensive loss of HKD 68,682,000 for the year, including foreign exchange differences[134] - The company’s total assets were HKD 9,075,231,000 as of December 31, 2023[134] - The company’s total liabilities were HKD 3,165,566,000 as of December 31, 2023[134] - The company’s equity attributable to shareholders was HKD 9,300,008,000 as of December 31, 2023[134] - Non-current assets decreased slightly from HKD 14,180,190 thousand in 2022 to HKD 14,091,684 thousand in 2023, representing a decline of approximately 0.63%[160] - Current liabilities decreased significantly from HKD 1,235,423 thousand in 2022 to HKD 786,459 thousand in 2023, a reduction of about 36.3%[160] - Cash and cash equivalents dropped from HKD 868,547 thousand in 2022 to HKD 454,717 thousand in 2023, reflecting a decrease of approximately 47.7%[160] - Total non-current liabilities increased from HKD 1,139,375 thousand in 2022 to HKD 1,433,749 thousand in 2023, marking an increase of about 25.8%[161] - The company's net assets decreased from HKD 13,216,979 thousand in 2022 to HKD 12,909,665 thousand in 2023, a decline of approximately 2.3%[161] - The company's equity attributable to equity holders remained stable at HKD 9,075,231 thousand in 2023 compared to HKD 9,300,008 thousand in 2022, showing a slight decrease of about 2.4%[161] Cash Flow and Financial Activities - The company reported a profit for the year of HKD 125,281 thousand, contributing positively to retained earnings[164] - The company’s total assets less current liabilities remained relatively stable, with a slight decrease from HKD 14,356,354 thousand in 2022 to HKD 14,343,414 thousand in 2023[160] - The company’s inventory decreased from HKD 25,196 thousand in 2022 to HKD 23,962 thousand in 2023, a reduction of approximately 4.9%[160] - The company’s receivables increased significantly from HKD 116,121 thousand in 2022 to HKD 165,987 thousand in 2023, an increase of about 42.9%[160] - Operating cash flow used amounted to HKD (100,534) thousand in 2023, compared to HKD (39,568) thousand in 2022, indicating a significant increase in cash outflow[165] - Cash flow from investing activities showed a net outflow of HKD (12,665) thousand in 2023, a decrease from a net inflow of HKD 147,014 thousand in 2022[165] - Financing activities resulted in a net cash outflow of HKD (300,533) thousand in 2023, compared to HKD (182,359) thousand in 2022, reflecting increased financing costs[165] - The company received interest income of HKD 12,868 thousand in 2023, up from HKD 5,172 thousand in 2022, indicating improved returns on investments[165] - Dividends received from associates increased to HKD 9,663 thousand in 2023 from HKD 5,479 thousand in 2022, showing growth in investment income[165] - The total cash and cash equivalents decreased by HKD (413,732) thousand in 2023, compared to a decrease of HKD (74,913) thousand in 2022, highlighting liquidity challenges[165] - The company made payments for fixed assets totaling HKD (48,006) thousand in 2023, an increase from HKD (37,755) thousand in 2022, indicating ongoing capital expenditures[165] Financial Reporting Standards and Compliance - The company plans to adopt new and revised Hong Kong Financial Reporting Standards, which may impact future financial reporting[171] - The company’s subsidiaries and joint ventures are engaged in various sectors including property investment, healthcare services, and mining exploration, indicating a diversified business model[167] - The company has not applied certain new accounting standards that have been issued but are not yet effective, which may affect future financial statements[173] - The group expects that the amendments to HKAS 21 will not have a significant impact on its financial statements[177] - The group's interests in associates and joint ventures are accounted for using the equity method, reflecting the net asset value attributable to the group[178] - Upon losing significant influence over an associate or joint control over a joint venture, the group measures and recognizes any retained interest at fair value[179] - The group recognizes income from the sale of its share of joint ventures, with related assets, liabilities, income, and expenses accounted for according to applicable HKFRS[180] - Goodwill is initially measured at cost, which includes the transfer price and any non-controlling interest, with any excess over the fair value of identifiable net assets recognized as a bargain purchase gain[183] - The group employs different valuation methods to ensure sufficient data for fair value measurement, minimizing the use of unobservable data[185] - The financial report includes consolidated financial statements for the year ended December 31, 2023[191] - The group will not recognize related assets, liabilities, or goodwill upon losing control of a subsidiary, and will measure any retained investment at fair value[194] - The amendments to HKAS 12 narrow the scope of initial recognition exceptions, requiring deferred tax assets and liabilities to be recognized for temporary differences arising from certain transactions[196] - The group has retrospectively applied the amendments to Hong Kong Financial Reporting Standards, but these amendments did not impact the group as it is not within the scope of the Pillar Two legislative framework[197] - The amendments to Hong Kong Financial Reporting Standard No. 16 specify the treatment of lease liabilities arising from sale and leaseback transactions, effective from January 1, 2024, with retrospective application allowed[200] - The group anticipates that the amendments to the financial reporting standards will not have a significant impact on its financial statements[200]
力宝(00226) - 2023 - 年度财报