8/3/2020 | Annual Reports and Related Documents:: |
ANNUAL REPORTS AND RELATED DOCUMENTS::
Issuer & Securities
Issuer/ Manager
VALUETRONICS HOLDINGS LIMITED
Securities
VALUETRONICS HOLDINGS LIMITED - BMG9316Y1084 - BN2
Stapled Security
No
Announcement Details
Announcement Title
Annual Reports and Related Documents
Date &Time of Broadcast
03-Aug-2020 18:14:23
Status
New
Report Type
Sustainability Report
Announcement Reference
SG200803OTHRRK7T
Submitted By (Co./ Ind. Name)
Tse Chong Hing
Designation
Chairman and Managing Director
Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)
The Sustainability Report for FY2020 is attached.
Additional Details
Period Ended
31/03/2020
Attachments
Valuetronics-2020%20Sustainability%20Report.pdf
Total size =2103K MB
VALUETRONICS HOLDINGS LIMITED
2020
SUSTAINABILITY
REPORT
TABLE OF CONTENTS
01 ABOUT THIS REPORT
01 BOARD STATEMENT ON SUSTAINABILITY
02 ORGANISATIONAL PROFILE
03 OUR APPROACH TO SUSTAINABILITY
06 ECONOMIC
08 ENVIRONMENTAL
10 SOCIAL
14 GOVERNANCE
16 GRI CONTENT INDEX
ABOUT THIS REPORT | BOARD STATEMENT |
ON SUSTAINABILITY |
We are pleased to present Valuetronics Holdings Limited's ("Valuetronics") annual Sustainability Report, for our financial year ended 31 March 2020 ("FY2020"). This report is set out on a "comply or explain" basis in accordance with Rule 711B and Practice Note 7.6 of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual on Continuing Listing Obligations.
This 2020 Sustainability Report has been prepared in reference with the Core option of the Global Reporting Initiative ("GRI") Standards. GRI is the most widely adopted global standards for sustainability reporting and it provides businesses and organisations worldwide a framework to measure, understand and communicate their critical sustainability issues on environmental, economic and social impacts to stakeholders.
This report highlights the key economic, environmental, social and governance ("EESG") related initiatives carried out throughout a 12-month period, being FY2020.
Our Group has expanded our manufacturing footprint into Vietnam in 2019, and this report has included relevant information from our Vietnam operations.
The EESG data and information provided have not been verified by an independent third-party and we have relied on internal data monitoring and verification to ensure its accuracy.
We welcome feedback from our stakeholders with regards to our sustainability efforts as this enables us to improve our policies, systems and results. Please send your comments and suggestions to contact@valuetronics.com.hk.
The key material EESG factors for the Group have been identified and reviewed by the top management of the Group, and the board of directors of the Company (the "Board") oversees the management and monitoring of these factors and takes them into consideration when determining the Group's strategic direction and policies. Sustainability is a part of the Group's wider strategy to create long-term value for all its stakeholders.
As our Group embarks on our new growth dimension with our Vietnam expansion, sustainability will always be a core element for the Group. FY2020 marks the third year in which the Group highlights its sustainability efforts through the publication of its sustainability report. We are also honoured and humbled by the recognition of our sustainability efforts with the receipt of the Sustainability Award, Small Cap - Runner Up at the 20th SIAS Investors' Choice Award in September 2019. Our Group will continue to value and uphold our efforts to achieve business sustainability for the long term.
3 August 2020
VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT | 01 |
ORGANISATIONAL PROFILE
At Valuetronics, we believe we are amongst an emerging breed of Electronics Manufacturing Services ("EMS") providers with a multi-location manufacturing footprint in China and South East Asia, which focus on a proactive engagement with the market so as to understand market trends and initiate product-oriented solutions to meet the ever-changing needs of customers.
Established in 1992 and headquartered in Hong Kong, Valuetronics was listed on the SGX Mainboard in 2007. Over the years, Valuetronics has grown into an integrated EMS provider with principal business segments ranging from Consumer Electronics ("CE") Products to Industrial and Commercial Electronics ("ICE") Products, covering smart lighting products, printers, temperature sensing devices, communication products, automotive products and medical equipments.
Our proactive philosophy in customer engagement leverages on our Design and Development ("D&D") capabilities, which is supported by integrated manufacturing capabilities from plastic tool fabrication and injection moulding to surface mount technology and full turnkey finished product assembly. As a one-stop manufacturing solution provider, we are set apart from traditional EMS providers. Our capability in providing vertical integrated services under one roof gives our customers the advantage of a faster time-to-market, better quality control, and most importantly, a competitive total cost of ownership.
Our wide product and customer range from emerging enterprises to top global multinational corporations is a testimony to the success in adopting this philosophy. It also further highlights our ability to accommodate customers' requirements for various volume mix, complexity and industrial standards, while demonstrating our spectrum of competence. By constantly focusing on their objectives, priorities, and needs, we continue to develop long-term relationships with our global customers in the consumer, commercial, industrial, automotive and medical equipment industries.
Today, we are a premier design, manufacturing partner for the world's leading brands in various sectors, which span across a wide geographical region that covers America, Europe and the Asia Pacific. We support these clients manufacturing supply chain requirements by leveraging on our multiple manufacturing sites located in China and Vietnam. At Valuetronics, we deliver not just products, but total solutions that meet the needs of our diverse client base.
02 | VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT |
OUR APPROACH TO SUSTAINABILITY
PLAN AND
SCOPE
REPORT | ENGAGE | |||||||
VALUETRONICS' | STAKEHOLDERS | |||||||
SUSTAINABILITY | ||||||||
METHODOLOGY | ||||||||
COLLECT | ASSESS |
DATA | MATERIALITY |
VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT | 03 |
OUR APPROACH TO SUSTAINABILITY
Stakeholders | Engagement Platforms | Frequency of | Key Topics of Interest |
Engagement | |||
EMPLOYEES
• | Orientation training for | • Throughout | • | Occupational health and | ||
new recruits | the year | safety | ||||
• | Annual performance | • | Remuneration and | |||
review & appraisals | benefits | |||||
• | Team-building events | • | Training and development | |||
• | Townhall sessions | • | Fair employment practice | |||
• | Electronic communication | and policies | ||||
& notice board | ||||||
CUSTOMERS
• | Business review meetings | • Throughout | • | Quality of products |
• | Customer visits | the year | • | No child labour policy |
- Executive dialogue
SUPPLIERS AND SERVICE PROVIDERS
• | Supplier surveys | • Throughout | • | Environmental compliance |
• | Business meetings with | the year | • | Supplier environmental |
critical suppliers | assessment |
- Supplier factory audit
INVESTORS/ SHAREHOLDERS
• | Analysts meeting | • | Throughout | • | Profitability and |
• | Corporate day for | the year | shareholder returns | ||
institutional investors | • | Anti-corruption | |||
• | Web portal & email | • | Annually | • | Business Ethics |
- Annual General Meeting
- Group Annual Report
LOCAL COMMUNITIES
• Participation in volunteer | • Throughout | • Socially responsible |
community service | the year | corporate citizen and |
building community | ||
support | ||
LOCAL GOVERNMENT
• | Participation in | • Throughout | • | Maintaining good |
government agencies' | the year | corporate governance | ||
seminars on policy updates | standard | |||
• | On-site advisory visits | • | Environmental compliance | |
• | Regular reports | • | Health and safety | |
regulations compliance | ||||
STAKEHOLDER ENGAGEMENT
An important starting point in our sustainability journey is to identify our stakeholders and the material aspects relevant to our business. The interests and requirements of key stakeholders are taken into account when formulating our corporate strategies. These key stakeholders include, but not limited to, customers, suppliers, employees, investors, and local government. We adopt both formal and informal channels of communication to understand the needs of our key stakeholders and incorporate their feedback into the evolution of corporate strategies to achieve mutually beneficial relationships.
04 | VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT |
MATERIAL ASPECTS ASSESSMENT
Our sustainability process begins with the identification of relevant aspects. Relevant aspects are then prioritised as material factors, which are then validated. The end result of this process is a list of material factors disclosed in this sustainability report of which their inter-relationships are shown below:
IDENTIFICATION | PRIORITISATION | VALIDATION | REVIEW | ||||||||
Identification of | the | Prioritisation | of | the | Validation | of | the | Review | focuses | on | |
material factors | that | material | factors | completeness | of | key | the material | factors | |||
1 | 2 | 3 | 4 | ||||||||
are of relevance to | and identifies | key | sustainability | factors | in previous reporting | ||||||
the Group's activities | sustainability | factors | identified to | finalise | period | and | also | ||||
to be reported upon | the sustainability | considers | the result | ||||||||
report content | of the review for the | ||||||||||
preparation | of | the | |||||||||
next reporting cycle | |||||||||||
A materiality review is conducted every year, incorporating inputs from our various stakeholder engagements. The Group has conducted a materiality assessment during the year with the help of an external consultant.
In order to determine if an aspect is material, we assessed its potential impact on the economy, environment and society, as well as its influence on stakeholders. Aspects were identified and prioritised through internal workshops, peer reviews and social impact assessments at site level. Applying the guidance from GRI, we have identified the following material aspects:
ECONOMIC | ENVIRONMENTAL | ||
• | Economic performance | • | Environmental compliance |
• | Anti-corruption | • | Supplier environmental |
assessment |
SOCIAL
- Diversity
- Fair employment practices and child labour
- Occupational health and safety
- Training and education
- Local community engagement
GOVERNANCE
- Sustainability governance
- Enterprise risk management
- Business Ethics
VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT | 05 |
ECONOMIC
ECONOMIC PERFORMANCE
With COVID-19 pandemic and the Sino-US trade tensions, the outlook for FY2021 is highly uncertain. This is the toughest business environment we have faced in our operating history and while we try to mitigate its impact, our FY2021 financial results are expected to be significantly lower compared with FY2020. Nevertheless, I have confidence in my team and our operating discipline. Our strong balance sheet has allowed us to build up our Vietnam capacity quickly and this will help us to cater to our customers' changing supply chain needs.
Mr Ricky Tse Chong Hing
Chairman and Managing Director
Considering its FY2020 results performance, the extremely difficult business environment, and the capital expenditure needs of the Company given its Vietnam expansion, the Board proposed a Final Dividend of 14 HK cents per share for FY2020, which are subject to shareholders' approval at the Annual General Meeting to be convened. The Company has also paid an Interim Dividend of 6 HK cents per share in December 2019 and in aggregate, the Interim and Final dividends amount to 20 HK cents per share (FY2019: 25 HK cents per share).
The aggregate dividend amount is approximately 48.5% of the net profit attributable to shareholders for FY2020 and is in line with the Company's formal dividend policy of paying out between 30% to 50% of net profit as normal dividends to shareholders. The Company will continue to adhere to this formal dividend policy.
The Group's FY2020 revenue decreased by 16.8% to HK$2,354.4 million from HK$2,828.8 million in the financial year ended 31 March 2019 ("FY2019"). Gross profit correspondingly decreased by 15.7% to HK$362.8 million in FY2020 from HK$430.3 million in FY2019, with gross profit margin up 0.2 percentage point to 15.4% for FY2020 due to a change in sales mix for the year under review.
As at 31 March 2020, the Group's financial position remains stable and resilient with a net asset value per share (excluding treasury shares) of HK$2.8 (31 March 2019: HK$2.7). The Group has net current assets of HK$902.4 million (31 March 2019: HK$850.5 million), total assets of HK$2,013.5 million (31 March 2019: HK$2,013.4 million) and a shareholders' fund of HK$1,231.6 million (31 March 2019: HK$1,159.3 million).
REVENUE | PROFIT ATTRIBUTABLE TO OWNERS OF THE COMPANY | |||||||||||||
HK$ MILLION | HK$ MILLION | |||||||||||||
FY2016 | 824.6 | 1,128.3 | FY2016 | 120.4 | ||||||||||
FY2017 | 987.1 | 1,287.8 | FY2017 | 154.1 | ||||||||||
FY2018 | 1,398.1 | 1,455.6 | FY2018 | 204.7 | ||||||||||
199.5 | ||||||||||||||
FY2019 | 1,161.2 | 1,667.6 | FY2019 | |||||||||||
FY2020 | 916.0 | 1,438.4 | FY2020 | 178.9 | ||||||||||
Consumer Electronics | Industrial & Commercial Electronics |
06 | VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT |
EARNINGS PER SHARE (EPS) AND DIVIDENDS PER SHARE
HK cents
50 | 48.1 | 46.2 | 41.2 | ||||||||||||||||||||||||||||||||||||
40 | 36.9 | 36.4 | 36.8 | ||||||||||||||||||||||||||||||||||||
30 | 31.1 | 33.2 | 29.0 | 27.0 | 25.0 | ||||||||||||||||||||||||||||||||||
23.2 | |||||||||||||||||||||||||||||||||||||||
20 | 13.6 | 15.2 | 14.0 | 17.0 | 19.9 | 20.0 | 20.0 | 20.0 | 20.0 | 20.0 | |||||||||||||||||||||||||||||
10 | 7.8 | 7.0 | 8.0 | 7.0 | 5.0 | 6.0 | |||||||||||||||||||||||||||||||||
4.5 | |||||||||||||||||||||||||||||||||||||||
0 | |||||||||||||||||||||||||||||||||||||||
FY08 | FY09 | FY11 | FY12 | FY13 | FY14 | FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | ||||||||||||||||||||||||||||
FY10 | |||||||||||||||||||||||||||||||||||||||
EPS | Dividend per share | Interim Dividend |
For our detailed financial results, please refer to the following sections in our FY2020 Annual Report:
- Financial Highlights, page 4
- Financial Review, page 5
- Financial Statements, pages 46 - 92
ANTI-CORRUPTION
Here at Valuetronics, we do not tolerate corruption in any form. This has been made clear to our employees, suppliers and business partners. Valuetronics ensures that all staff (other than production line workers) sign an anti-corruption declaration when they join the Company. Dedicated whistleblowing hotlines using both email and electronic platforms are set up so that if anyone who wants to report any business ethics issue can do so confidentially, and any report of corruption is immediately escalated to the attention of senior management.
There have been no reported incidents of corruption in the Group during the period and we will continue to monitor and prevent its occurrence as targeted. We will also continue to ensure that all employees are fully aware of our policy and sign our anti-corruption declaration.
VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT | 07 |
ENVIRONMENTAL
ENVIRONMENTAL COMPLIANCE
Valuetronics has achieved the ISO14000 accreditation and standards for environmental management since 2008 for our China operation. ISO14000 is based on a plan-do-check-act ("PDCA") methodology which provides a systematic framework for the integration of environmental management practices by supporting environmental protection, preventing pollution, minimising waste, reducing energy and material use. Recyclable waste is stored, collected and processed by qualified third party recycling firms.
For our leased manufacturing facility in Vietnam, we have passed the environmental impact compliance inspection conducted by the Vietnam local authority and obtained approval to start the trial production in May 2020. To extend our company philosophy on environmental protection and environmental regulatory compliance to Vietnam, we will be implementing the ISO14000 Environmental Management System in our Vietnam leased standard factory, with the target to receive external accreditation by calendar year 2021.
We are committed to continue the PDCA approach to improve our environment management, targeting environmental protection, environmental regulatory compliance and no major non-conformities in any kind of environmental compliance audits in both of our China and Vietnam operations.
SUPPLIER ENVIRONMENTAL ASSESSMENT
To raise environmental awareness among our suppliers, Valuetronics encourages suppliers to be accredited with the ISO14000 standard. With regard to raw materials that might contain environmentally hazardous substances, the Group has been working closely with suppliers to push forward more environmental protection awareness with suppliers required to make annual declaration on their ISO14000 compliance. We have extended our annual assessment outside our Printed Circuit Board ("PCB") suppliers to include our top 100 suppliers in terms of purchasing amount, and they are required to make on annual environmental compliance declaration as well. Majority of the assessed suppliers declared that they have accredited with ISO14000 standard or have complied with local government laws and regulations on environmental issues.
In FY2020, we have achieved our target as the majority of the assessed suppliers declared that they have accredited with ISO14000 standard or have complied with local government laws and regulations on environmental issues. Out of these suppliers assessed, all our PCB suppliers have declared that they have accredited with ISO14000 standard or have complied with local government laws and regulations on environmental issues.
We will continue to raise environmental awareness among our suppliers. Our top 100 suppliers and PCB suppliers will be assessed and screened annually, with a focus on their compliance on environmental issues.
08 | VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT |
VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT | 09 |
SOCIAL
DIVERSITY
Valuetronics maintains a policy of providing equal opportunities to all its employees. The Group's recruitment of employees and their subsequent annual appraisal are based on merit, work attitude, cooperation with other staff, and their efficiency and effectiveness of work.
Furthermore, the Group does not discriminate according to race, age, gender, religion, ethnicity, facial attractiveness, physical impairments, sexual preference, political viewpoints or nationality.
Similar to the previous year, we have maintained an almost equal ratio of male to female employees. Our objective is to have no incidents of discrimination and there has been no reported discrimination issue during the period.
WORKER DISTRIBUTION BY GENDER | STAFF |
(OTHER THAN PRODUCTION LINE WORKERS) |
MALE | MALE |
42% | 54% |
FEMALE | FEMALE |
58% | 46% |
WORKER DISTRIBUTION BY AGE |
16-17 | 18-20 | 21-40 | >40 |
1% | 2% | 64% | 33% |
10 | VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT |
FAIR EMPLOYMENT PRACTICES AND CHILD LABOUR
The Group considers its employees the most valuable asset and offers them fair and competitive remuneration packages. Discretionary incentives are granted to eligible employees based on the performance of the Group as well as the individual employee. We continue to provide employment opportunities to local students by closely cooperating with local colleges and universities and to provide nurturing programmes for fresh graduates. Valuetronics will continue to provide a fair employment environment.
The Group has a strict no child labour policy and expects the same from all of our suppliers. Declaration is made on our new supplier application form and as a part of the annual supplier assessment. All our top 100 suppliers comply with our no child labour policy.
OCCUPATIONAL HEALTH AND SAFETY
The Occupational Health and Safety ("OHS") of our workforce has always been one of our priorities. Valuetronics is pleased to confirm that there has been no fatal industrial accident reported in FY2020. Our Environment, Health and Safety ("EHS") department is independent from operational departments and monitors the following measures to provide a safe working environment for all employees:
- Identifying potential risks through routine campus patrols and drawing up and implementing preventive actions;
- Analysing each incident for its root causes and communicating with all the relevant department managers for corrective actions and implementing preventive measures;
- Conducting regular training for employees on safety practices;
- Conducting regular checks for emission compliance;
- Reinforcing the occupational health and safety awareness by providing trainings, putting up banners and posters in public areas;
- Closely following and ensuring compliance with the government's rules and regulations on EHS;
- Ensuring fire safety management protocols are in place; performing routine check on fire safety; and
- Carrying out regular fire drills and training.
VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT | 11 |
SOCIAL
OCCUPATIONAL HEALTH AND SAFETY (continued)
In addition, the EHS department chairs regular health and safety meetings with all operational department managers to discuss occupational health and safety issues, focusing on the risks identified above. Immediate corrective actions are carried out for each EHS incident, which is followed by a formal review for further prevention. The EHS department also verifies the implementation and effectiveness of any corrective actions.
No fatal industrial accident was reported during the year as targeted, and we will continue to ensure that there is no case of fatal industrial accident in the factory.
COVID-19 Safety Measures
Valuetronics initiated its corporate prevention and containment contingency plan by closely tracking the health status and travel history of its employees. Staff returning from provinces outside Guangdong had to go through a 14-day mandatory isolation period before resuming work at the factory sites. Other measures were implemented as the Group steadily moved towards a return to normal production. These measures included the attendance taking and temperature monitoring of staff using facial recognition technology, designated entrances and exits to keep track of human traffic, greater telecommunication use instead of unnecessary human contact, and increased frequency of personal sanitation and the disinfection of facilities.
TRAINING AND EDUCATION
Valuetronics provides its employees with an orientation program and regular training.
The orientation program is organised for new employees to introduce the Company and its operations as well as its codes of conduct, applicable internal and external rules and regulations, and workplace safety practices.
For workers, regular training is provided for job-related skills and updates on workplace safety. For staff, in addition to workplace safety training, more specialised training is also held to ensure that they keep pace with the growth and development of the Group. Staff training records are reviewed and specific training needs are identified for the individual's career advancement. Our in-house training records showed that each staff averaged 18 hours during FY2020. We will continue to deploy our resources and offer training courses to our employees to enhance their professional competence.
12 | VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT |
LOCAL COMMUNITY ENGAGEMENT
Valuetronics strongly believes in being a socially responsible corporate citizen. Continuing last year's successful corporate responsibility efforts, Valuetronics continued to organise activities to give back to the community, aims to at least one activity per quarter and encourage employees to join local community activities.
1 June | Visit to Disabled |
People Rehabilitation | |
2019 | |
Centre | |
Three-Men Basketball | |
5 - 6 July | Tournament held by |
2019 | Danshui Workers |
Union |
7 August | Volunteer on |
2019 | People's Fun Stage |
7 December | Visit to Seniors |
2019 | Nursing Home |
VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT | 13 |
GOVERNANCE
SUSTAINABILITY GOVERNANCE
At Valuetronics, we believe that strong corporate governance is key to a sustainable business. That is why since our listing on the SGX Mainboard in 2007 and all through to FY2020, we have continued to comply with the Singapore Code of Corporate Governance. Please refer to pages 13 to 34 of our Annual Report, for details of our compliance to the Singapore Code of Corporate Governance.
We will continue to ensure compliance with the SGX requirements.
As an integrated EMS provider, it is a continual challenge to successfully manage our environmental and social issues. Nevertheless, Valuetronics has incorporated these issues into our business model and implemented the applicable sustainable and responsible practices to mitigate these issues throughout the Company. Our products also meet the stringent safety and environmental requirements demanded by our customers.
Valuetronics pays strict attention to the implementation of good labour practices in all our operations. The Group also provides various training opportunities for continued employee development and this is reflected in the quality and delivery of our products and services. We value our relationships with our clients and the wider community in which we operate in, and these strong relationships have helped us through the challenging times in the past. Valuetronics strongly believes that in the long run, these efforts will have a positive impact on our economic performance.
ENTERPRISE RISK MANAGEMENT ("ERM")
ERM is an integral part of good corporate governance as well as resources management. Valuetronics has a thorough and comprehensive ERM framework to identify and manage its risks and exposures in an integrated, systematic and consistent manner. For detailed disclosure on ERM, please refer to pages 25-26 of our Annual Report.
We will perform risk assessments annually and disclose in accordance with SGX requirements.
BUSINESS ETHICS
When it comes to hiring, Valuetronics takes any possibility of conflict of interest into serious consideration. Our code of conduct clearly spells out our expectations from our staff and the subsequent consequences if any of the rules are violated or when standards not met. In addition, we also have fair grievance procedures.
The Group also takes measures to guard against cybersecurity risks in order to protect confidential information for both our internal and external stakeholders. This also applies to our employment process where the privacy of all applicants is safeguarded and access to personal data is restricted to authorised persons on a strict need-to-know basis.
All of our staff are reminded of the importance of upholding the highest standards when it comes to business ethics. We have incorporated business ethics and codes of conduct into our new joiner orientation program, so that all of our employees are fully aware that our compliance with rules and regulations is a key part of running a responsible business.
Valuetronics has complied, in all material aspects, with applicable environmental rules and regulations, anti-competitive behaviour laws, and requirements on health and safety. For FY2020, we have continued to comply with applicable environmental rules and regulations, anti-competitive behavior laws, and requirements on health and safety. There were no significant fines or non-monetary sanctions for any non-compliance with the aforementioned laws, regulations and requirements. There have also been no reported incidents of corruption during the reporting period. It is Valuetronics' goal to maintain zero incidents of corruption, and we regularly review our policies on whistleblowing and anti-corruption so as to ensure that they are effective.
14 | VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT |
VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT | 15 |
GRI CONTENT INDEX
GRI Standard | Disclosure | Reference/Description |
GRI 101: Foundation 2016
GENERAL DISCLOSURE
GRI 102: General Disclosures
102-1 | Name of organisation | Valuetronics Holdings Limited |
102-2 | Activities, brands, products and services | Annual Report 2020, pages 73-75 |
Sustainability Report 2020, page 1 | ||
102-3 | Location of headquarters | Hong Kong |
102-4 | Location of operations | Annual Report 2020, pages 8, 81-82 |
102-5 | Ownership and legal form | Annual Report 2020, Corporate |
Information | ||
102-6 | Markets served | Annual Report 2020, pages 73-75, |
81-82 | ||
102-7 | Scale of the organisation | Sustainability Report 2020, page 10 |
102-8 | Information on employees and other workers | Sustainability Report 2020, page 10 |
102-9 | Supply chain | Sustainability Report 2020, page 2 |
102-10 | Significant changes to the organisation and its | No significant changes |
supply chain | ||
102-11 | Precautionary Principle or approach | Valuetronics does not specifically |
address the precautionary approach | ||
102-12 | External initiatives | Sustainability Report 2020, page 13 |
102-13 | Membership of associations | Not applicable |
102-14 | Statement from senior decision-maker | Sustainability Report 2020, page 1 |
102-16 | Values, principles, standards and norms of | Sustainability Report 2020, page 14 |
behaviour | ||
102-18 | Governance structure | Sustainability Report 2020, page 14 |
102-40 | List of stakeholder groups | Sustainability Report 2020, page 4 |
102-41 | Collective bargaining agreements | Not applicable |
102-42 | Identifying and selecting stakeholders | Sustainability Report 2020, page 4 |
102-43 | Approach to stakeholder engagement | Sustainability Report 2020, page 4 |
102-44 | Key topics and concerns raised | Sustainability Report 2020, pages 4-5 |
102-45 | Entities included in the consolidated financial | Annual Report 2020, pages 81-82 |
statements | ||
102-46 | Defining report content and topic boundaries | Sustainability Report 2020, page 1 |
102-47 | List of material topics | Sustainability Report 2020, page 5 |
102-48 | Restatement of information | Not applicable |
102-49 | Changes in reporting | Not applicable |
102-50 | Reporting period | 1 April 2019 to 31 March 2020 |
102-51 | Date of most recent previous report | 15 July 2019 |
102-52 | Reporting cycle | Annually |
102-53 | Contact point for questions about the report | Sustainability Report 2020, page 1 |
102-54 | Claims if reporting in accordance with the GRI | Sustainability Report 2020, page 1 |
Standards | ||
102-55 | GRI content index | Sustainability Report 2020, page 16 |
and inside of back cover | ||
102-56 | External Assurance | We may seek external assurance in the |
future |
16 | VALUETRONICS HOLDINGS LIMITED 2020 SUSTAINABILITY REPORT |
GRI Standard | Disclosure | Reference/Description | |||
MATERIAL TOPICS | |||||
GRI 201: Economic | 201-1 | Direct economic value generated and distributed | Sustainability Report 2020, pages 6-7 | ||
performance | |||||
GRI 205: | 205-1 | Operations assessed for risks related to | Sustainability Report 2020, page 7 | ||
Anti-corruption | corruption | ||||
GRI 307: | 307-1 | Non-compliance with environmental laws and | Sustainability Report 2020, page 8 | ||
Environmental | regulations | ||||
compliance | |||||
GRI 308: Supplier | 308-1 | New suppliers that were screened using | Sustainability Report 2020, page 8 | ||
environmental | environmental criteria | ||||
assessment | |||||
GRI 403: | 403-2 | Types of injury and rates of injury, occupational | Sustainability Report 2020, pages 11-12 | ||
Occupational | diseases, lost days, and absenteeism, and | ||||
health and safety | number of work-related fatalities | ||||
GRI 404: Training | 404-1 | Average hours of training per year per employee | Sustainability Report 2020, page 12 | ||
and education | |||||
GRI 405: Diversity | 405-1 | Diversity of governance bodies and employees | Sustainability Report 2020, page 10 | ||
and equal | |||||
opportunity | |||||
GRI 408: Child | 408-1 | Operations and suppliers at significant risk for | Sustainability Report 2020, page 11 | ||
labour | incidents of child labour | ||||
GRI 413: Local | 413-1 | Operations with local community engagement, | Sustainability Report 2020, page 13 | ||
Communities | impact assessments, and development | ||||
programmes | |||||
VALUETRONICS HOLDINGS LIMITED
Unit 9-11, 7/F Technology Park, No. 18 On Lai Street, Shatin, New Territories, Hong Kong
T 852 2790 8278 I F 852 2304 1851
www.valuetronics.com.hk
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Valuetronics Holdings Limited published this content on 03 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2020 02:36:08 UTC