Annual Report 2011 - Goodbaby International Holdings Limited

More documents

Recommendations

Info

EMPLOYEE AND REMUNERATION POLICIES As at 31 December 2011, the Group had an aggregate of 14,245 full-time employees. Employee costs, excluding Directors’ emoluments, totalled HK$689.4 million for the year of 2011. The Group recruited and promoted individual persons according to their strength and development potential. The Group determined the remuneration packages of all employees including the Directors with reference to individual performance and current market salary scale. The Group operates a defined contribution mandatory provident fund retirement benefits for its employees in Hong Kong, and provides its PRC employees with welfare schemes as required by the applicable laws and regulations in the PRC. The Company has also adopted a share option scheme on 5 November 2010. During the year, no share option was granted. CONFIRMATION OF INDEPENDENT STATUS The Company has received, from each of the independent non-executive Directors, an annual confirmation of his independence pursuant to Rule 3.13 of the Listing Rules. The Company considers all of the independent non-executive Directors independent. gb international USE OF PROCEEDS FROM INITIAL PUBLIC OFFERING On 24 November 2010, the Company’s shares were listed on the Stock Exchange and raised net proceeds of approximately HK$894.3 million. As at 31 December 2011, the Company has used approximately HK$466.3 million from such proceeds as working capital. The balance of the un-utilized proceeds, deposited in normal interest bearing saving accounts, will be applied by the Company as stated in the section headed “Future Plans and Use of Proceeds” of the Company’s Prospectus. CORPORATE GOVERNANCE Principal corporate governance practices adopted by the Company are set out in the corporate governance report contained in this annual report. EXCHANGE RISKS Details of the exchange risks are set out in note 40 to the Financial Statements. PURCHASE, SALE OR REDEMPTION OF SHARES Neither the Company nor any of its subsidiaries has purchased, sold or redeemed any of the Company’s listed securities during the year ended 31 December 2011.
DISCLOSURE UNDER RULE 13.20 OF THE LISTING RULES The Directors are not aware of any circumstances resulting in the responsibility of disclosure under Rule 13.20 of the Listing Rules regarding the provision of advances by the Company to an entity. EVENT AFTER THE REPORTING PERIOD Details of the event after the reporting period of the Group are set out in note 42 to the Financial Statements. FINANCIAL SUMMARY The summary of the results, assets and liabilities of the Group in the past five financial years is set out on pages 158 to 159 of this report. PRE-EMPTIVE RIGHTS There is no provision regarding pre-emptive rights in the articles of association of the Company or the laws of the Cayman Islands which would oblige the Company to offer new shares on a pro-rata basis to existing shareholders. SUFFICIENT PUBLIC FLOAT The Company has maintained the public float as required by the Listing Rules for the year ended 31 December 2011. AUDITORS / 61 The financial statements of the Company for the year ended 31 December 2011 have been audited by Ernst & Young which will retire, and, being eligible, offer themselves for re-appointment at the forthcoming AGM. A resolution for the re-appointment of Ernst & Young as auditors of the Company is to be proposed at the forthcoming AGM. For and on behalf of the Board of Directors Song Zhenghuan Chairman 16 March 2012
Page 2 and 3:
gbinternational.com.hk
Page 4 and 5:
CORPORATE INFORMATION gb internatio
Page 6 and 7:
CORPORATE INFORMATION DIRECTORS Exe
Page 9 and 10:
7 Chairman’s Statement
Page 11 and 12: Dear Shareholders, I wish to presen
Page 13: Looking forward, the Group will con
Page 16: OVERVIEW For the financial year end
Page 19 and 20: ) Our OBM model was systematically
Page 21 and 22: FINANCIAL REVIEW — CONTINUING OPE
Page 23 and 24: Cost of Sales, Gross Profit and Gro
Page 25 and 26: Income Tax Expense Our income tax e
Page 27: Pledge of Assets As at 31 December
Page 40 and 41: gb international
Page 42 and 43: The Board is pleased to present thi
Page 44 and 45: development efforts of the Company
Page 46 and 47: Specific enquiry has been made of a
Page 48 and 49: The key elements of the Group’s i
Page 50 and 51: gb international
Page 52: The Directors are pleased to presen
Page 55 and 56: pursuant to which each of the Coven
Page 57 and 58: Directors’ Interest in the Shares
Page 61: During the year under review, the t
Page 65 and 66: INDEPENDENT AUDITORS’ REPORT We b
Page 67 and 68: CONSOLIDATED STATEMENT OF COMPREHEN
Page 69 and 70: CONSOLIDATED STATEMENT OF FINANCIAL
Page 71 and 72: CONSOLIDATED STATEMENT OF CASH FLOW
Page 73 and 74: STATEMENT OF FINANCIAL POSITION 31
Page 75 and 76: NOTES TO FINANCIAL STATEMENTS 31 De
Page 113 and 114:
NOTES TO FINANCIAL STATEMENTS 31 De
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
FINANCIAL SUMMARY ASSETS, LIABILITI
Page 163:
gbinternational.com.hk
show all

Annual Report 2011 - Goodbaby International Holdings Limited

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?