坚宝国际 二零一三年年报

坚宝国际 二零一三年年报

坚宝国际 二零一三年年报

Contents

1

Pages

CORPORATE INFORMATION 2-3FINANCIAL HIGHLIGHTS 4CHAIRMAN’S STATEMENT

5-7MANAGEMENT DISCUSSION AND ANALYSIS 8-9CORPORATE GOVERNANCE REPORT 10-25BIOGRAPHICAL DETAILS OF DIRECTORS 26-27

AND SENIOR MANAGEMENT REPORT OF THE DIRECTORS 28-35INDEPENDENT AUDITOR’S REPORT 36-37

AUDITED FINANCIAL STATEMENTS CONSOLIDATED:

Income statement

38Statement of comprehensive income 39Statement of financial position 40-41Statement of changes in equity 42-43Statement of cash flows 44-45COMPANY:

Statement of financial position 46NOTES TO FINANCIAL STATEMENTS 47-135FIVE YEARS FINANCIAL SUMMARY

136

坚宝国际 二零一三年年报

Corporate Information

2

K & P International Holdings Limited Annual Report 2013

BOARD OF DIRECTORS

Executive directors

Lai Pei Wor (Chairman)

Chan Yau Wah (Deputy Chairman)

Independent non-executive directors

Kung Fan Cheong

Leung Man Kay

Li Yuen Kwan, Joseph

EXECUTIVE COMMITTEE

Lai Pei Wor (Chairman)Chan Yau Wah

AUDIT COMMITTEE

Leung Man Kay (Chairman)Kung Fan Cheong Li Yuen Kwan, Joseph

REMUNERATION COMMITTEE

Kung Fan Cheong (Chairman)Leung Man Kay

NOMINATION COMMITTEE

Lai Pei Wor (Chairman)Kung Fan Cheong Leung Man Kay

Li Yuen Kwan, Joseph

COMPANY SECRETARY

Ng Kwong Kui

AUDITOR

Mazars CPA Limited

Certified Public Accountants

PRINCIPAL BANKERS

DBS Bank (Hong Kong) Limited

China CITIC Bank International Limited

The Hongkong and Shanghai Banking Corporation Limited Industrial and Commercial Bank of China (Asia) Limited Dah Sing Bank, Limited Agricultural Bank of China

坚宝国际 二零一三年年报

Corporate Information

3

PRINCIPAL SHARE REGISTRARS AND TRANSFER OFFICE

Butterfield Corporate Services Limited Rosebank Centre 14 Bermudiana Road Pembroke Bermuda

HONG KONG BRANCH SHARE REGISTRARS AND TRANSFER OFFICE

Tricor Tengis Limited

Level 22, Hopewell Centre 183 Queen’s Road East Hong Kong

HONG KONG LEGAL ADVISER

Reed Smith Richards Butler

BERMUDA LEGAL ADVISER

Conyers Dill & Pearman

REGISTERED OFFICE

Clarendon House 2 Church Street Hamilton HM 11Bermuda

HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS

Units 2304-06, 23rd Floor Riley House

88 Lei Muk Road Kwai Chung New Territories Hong Kong

WEBSITE

http://www.77cn.com.cn

STOCK CODE

675

Butterfield Corporate Services Limited Rosebank Centre 14 Bermudiana Road Pembroke Bermuda

183 22

Conyers Dill & Pearman

Clarendon House 2 Church Street Hamilton HM 11Bermuda

88

23 2304-06

http://www.77cn.com.cn

675

坚宝国际 二零一三年年报

4

K & P International Holdings Limited Annual Report 2013

Financial Highlights

REVENUE BY OPERATING SEGMENT REVENUE BY GEOGRAPHICAL INFORMATION

PROFIT ATTRIBUTABLE TO OWNERS OF THE COMPANY

REVENUE

510152025300

100200300400500HK$’ Million HK$’ Million

坚宝国际 二零一三年年报

5

Chairman’s Statement

On behalf of the Board of Director s (the “Board”), I am pleased to report the annual audited results of the Company together with the subsidiaries (collectively the “Group”) for the year ended 31 December 2013.FINANCIAL RESULTS

The Group turnover for the year ended 31 December 2013 amounted to appr oximately HK$419.5 million r epr esenting an 3.1% incr ease from the previous year . Overall gross profit amounted to approximately HK$73.0 million this year r epr esenting a 8.3% decr ease fr om the pr evious year. Pr ofit attr ibutable to owner s of the Company was approximately HK$26.0 million (2012: HK$26.2 million). The income tax credit for the year under review included a provision of one-off written back on tax of approximately HK$5.3 million.

Basic earnings per share for the year ended 31 December 2013 was HK9.75 cents (2012: HK9.85 cents).BUSINESS REVIEW

Benefited from the business came from the new established customers, along with the incr easing demand fr om existing customer s in the second half of the year, the sales turnover of the precision parts and components in 2013 increased by 20.3% to approximately HK$305.6 million. The oper ating pr ofit incr eased by 11.0% to appr oximately HK$19.4 million. This included the gain of appr oximately HK$7.7 million from the derivative financial instruments purchased to manage the impact of appr eciation of Renminbi needed for the oper ating expenses of our factories in Mainland China.

Due to the weakened demand from the mar ket, the sales tur nover of the consumer electronic products segment dropped by 25.5% to appr oximately HK$113.9 million. The oper ating pr ofit decr eased by 47.5% to appr oximately HK$6.4 million. This included the gain of approximately HK$2.2 million from the derivative financial instruments purchased to manage the impact of appreciation of Renminbi needed for the operating expenses of our factory in Mainland China.

The Gr oup had defined str ict policy and r egulation r egar ding the purchase of the derivative financial instrument, the policy limited the scope of purchase only within the amount of Renminbi needed for the operating expenses in Mainland China factories annually and would not involve any speculation. The Gr oup also r eviews and monitor s regularly on the risk brought forward by the volatility of Renminbi.

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