新兴印刷年度报告 2022/2023

CONTENTS Financial Highlights2Chairman’s Statement3Management Discussion and Analysis6Corporate Information15Corporate Governance Report17Environmental, Social and Governance Report32Report of the Directors89Independent Auditor’s Report108Financial StatementsConsolidated Statement of Profit or Loss114Consolidated Statement of Comprehensive Income115Consolidated Statement of Financial Position116Consolidated Statement of Changes in Equity117Consolidated Statement of Cash Flows118Notes to Financial Statements120 FINANCIAL HIGHLIGHTS CHAIRMAN’S STATEMENT Dear Shareholders, The year 2022/2023 was continuing to be a challenging year to SunHing Printing Holdings Limited (the “Company”) and its subsidiaries(collectively referred to the “Group”). The Group was exposed underseveral market challenges and uncertainties, such as continuousimpact of geopolitical tension, outbreak of Russo-Ukrainian War,ongoing trade dispute between the United States of America (the“USA”) and the People’s Republic of China (the “PRC”), and concernabout the slowing global economic growth and high inflation that led topessimistic economy sentiment all over the world. COVID-19 As the abovementioned factors posed ongoing challenges to majoritysectors in Hong Kong by undermining investment and businessenvironment, they indirectly discouraged the financial performance toour Group in the year 2022/2023. Furthermore, the outbreak of theCOVID-19 in prior years aggravated global economy and changedconsumers’ behavior around the world. 77.5115.816.1424.124.36.82.21.86.58.6 Based on the above reasons, the Group’s 2022/2023 profit for theyear attributable to owners of the Company dropped to HK$77.5million (2021/2022: HK$115.8 million). The decrease in the profit wasmainly attributable to drop in the revenue, because of customers’concern about slowing global economic growth and high inflationall over the world, and also reduction of the customers’ sentiment.Basic earnings per share was HK16.14 cents (2021/2022: HK24.12cents). The Company has proposed a final dividend of HK4.3 cents(2021/2022: HK6.8 cents). Together with interim dividend of HK2.2cents (2021/2022: HK1.8 cents), the Company has proposed a totaldividend of HK6.5 cents (2021/2022: total dividend of HK8.6 cents),which the Group intended to maintain a stable dividend return to rewardour shareholders of the Group and to reflect our confidence in ourstrong financial performance. Looking forward to the Year 2023/2024, the market will still be full ofchallenges and uncertainties. Under the ongoing threat from globaleconomy downturn and high inflation over the world and geopoliticaltension in Asia, worldwide economy is expected to be volatile. TheGroup will maintain its stringent cost control measures, enhance theGroup’s overall production efficiency and maintain its competitiveness inthe market. CHAIRMAN’S STATEMENT In addition, the Group will further devote resources and manpowerto boost internal operation effectiveness, and will grasp opportunitiesarising from potential new markets, such as environmental friendlypackaging market for sustainable growth. While we are also proactivelylooking into the market for the latest printing associated technologies,advanced machinery and innovative materials, to provide value-addedservices to our customers and to differentiate ourselves from ourcompetitors. Last but not least, employees are the greatest asset to the Group, wewill persist in providing training to our employees, in order to facilitatethe upcoming development of the Group. On behalf of the Board, I would like to extend my sincere gratitude toour shareholders, investors, business partners, management and all thestaff members for their increasing support and dedication to the Group.We will continue to provide the market with innovative, reliable and high-quality printing products to our customers, and to drive the Group’sbusiness development in the long term. We believe these will empowerus to achieve a better performance and create greater value for ourcustomers, investors and shareholders. On behalf of the BoardMr. Chan Peter Tit SangChairman and Executive DirectorHong Kong, 28 September 2023 FOCUS ON PAPER-RELATED PRINTING PRODUCTS Products are mainly used in the markets of various consumerproducts as well as for the purposes of promotion, advertising and education. MANAGEMENT DISCUSSION AND ANALYSIS REVIEW OF OPERATION (i)(ii)(iii)(iv)NFCRFID(v) Sun Hing Printing Holdings Group is a one-stop printing serviceprovider. Our printing services can be broadly categorised into (i)packaging printing services which cover, among others, corrugatedboxes, gift boxes, card boxes and product boxes; (ii) paper gift setprinting services which cover, among others, gift sets containing giftboxes, cards, booklets and hardback books; (iii) card printing serviceswhich cover, among others, colour cards, insert cards, warranty cardsand plain cards; (iv) smart package printing services which c