Financial Performance - For the fiscal year ending June 30, 2024, the total revenue was approximately HKD 640 million, representing a 7% increase from HKD 601 million in the previous year[13]. - The net profit attributable to shareholders was approximately HKD 42 million, a 10% increase from HKD 38 million in the prior year[13]. - The pre-tax profit grew by 19% to approximately HKD 48 million, driven by increased sales and strict cost control[13]. - The group's consolidated revenue for the fiscal year ending June 30, 2024, increased by 7% to approximately HKD 640 million, compared to approximately HKD 601 million in the previous year, marking the third consecutive year of growth since the COVID-19 pandemic[17]. - Operating profit rose by 14% to approximately HKD 46 million, up from approximately HKD 40 million recorded in the previous year[18]. - The company reported a basic earnings per share of HKD 19.85, up from HKD 18.11 in the previous year[7]. - The gross profit margin improved by 2% to 62%, driven by a favorable sales mix, increased productivity at the Xiamen production facility, and a decline in global freight costs[18]. - The carpet business generated revenue of approximately HKD 625 million, a 7% increase from approximately HKD 582 million last year, with Europe, the Middle East, and Africa showing the highest growth rate of 12%[18]. Assets and Liabilities - The company’s total assets as of June 30, 2024, were HKD 832,566 thousand, up from HKD 792,867 thousand the previous year[9]. - The total liabilities increased to HKD 377,626 thousand from HKD 364,273 thousand year-over-year[9]. - The total cash and bank balances as of June 30, 2024, amounted to approximately HKD 263 million, up from approximately HKD 218 million as of June 30, 2023, with no unsecured bank borrowings[23]. Corporate Governance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange's listing rules for the fiscal year ending June 30, 2024[30]. - The board emphasizes the importance of diversity, including gender diversity, in business development and has adopted a diversity policy to ensure a varied composition of board members[32]. - The company is committed to high standards of corporate governance, focusing on transparency, independence, accountability, and fairness[31]. - The board believes that strong corporate governance is crucial for long-term performance and value creation for shareholders and stakeholders[31]. - The company has a mission and values aligned with its corporate culture, promoting integrity and ethical conduct throughout its operations[31]. - The board consists of experienced members with diverse backgrounds, enhancing decision-making and strategic direction[32]. - The company has established a nomination committee to review and recommend board appointments, ensuring a merit-based selection process[32]. - The board is committed to fostering an inclusive environment where all opinions are valued and discrimination is not tolerated[32]. Sustainability and ESG Initiatives - The company launched its first natural product series, the Biophilic Program, emphasizing its commitment to sustainability[13]. - The company is focusing on enhancing its sustainable development positioning through long-term planning and improving production efficiency at its Xiamen facility[19]. - The company achieved a silver rating in the Ecovadis sustainability assessment, ranking in the top 23% of evaluated companies, highlighting its commitment to sustainable development and responsible business operations[89]. - The company has set various key performance indicators related to environmental performance, which are monitored monthly to ensure targets are met[89]. - The company aims to achieve zero environmental pollution incidents and comply with water and air pollution discharge standards, with all targets currently met[90]. - The company is committed to reducing greenhouse gas emissions primarily from manufacturing and transportation, implementing measures to minimize transport-related emissions[91]. - The company has established an Environmental, Health, and Safety department to manage policies and procedures for sustainable operations[83]. - The company has implemented a comprehensive waste management policy to ensure compliance with waste regulations and minimize negative environmental impacts[98]. Employee Engagement and Welfare - The company provides extensive employee benefits, including accommodation, meal plans, paid leave, and additional medical insurance, contributing to a cohesive work environment and low turnover rates[102]. - The annual sports event saw over 150 employees participate, promoting a healthy corporate culture and employee engagement[104]. - A total of 531 employees participated in various training programs, including first aid training for Xiamen production workshop staff[109]. - The company emphasizes two-way communication with employees through annual performance evaluations to discuss career planning and areas for improvement[109]. Shareholder Communication - Shareholders have the right to speak and vote at general meetings, with all resolutions presented for voting according to listing rules[69]. - The company emphasizes effective, transparent, and continuous communication with shareholders and investors through various channels, including the company website and investor briefings[72]. - The board of directors and external auditors attended the annual general meeting on December 7, 2023, and deemed the shareholder communication policy effective during the review period[72]. Financial Reporting and Audit - The company’s financial performance is audited by KPMG, ensuring that the consolidated financial statements reflect the group's true and fair condition[40]. - The audit committee confirmed that the audited consolidated financial statements fairly present the group's financial position and performance for the year[55]. - The company is responsible for preparing financial statements that are free from material misstatement due to fraud or error, and for evaluating the group's ability to continue as a going concern[153]. Future Outlook - The company plans to continue investing in digital promotion and expanding its product diversification strategy[13]. - The company plans to continue its market expansion and product development strategies in the upcoming fiscal year[170].
TAI PING CARPET(00146) - 2024 - 年度财报