Vtech 2001 Annual Report Download - page 19

VTech Holdings Ltd Annual Report 2001
17
e s
Treasury Policies
The objective of the Group’s treasury policies is to
manage its exposure to fluctuation in foreign currency
exchange rates on specific transactions. It is our policy
not to engage in speculative activities.
Investors
In our investor relations programme, we were active
in explaining developments of VTech to global
investors. During the year, we participated in five
investment conferences in Hong Kong, New York and
Singapore and held roadshows in the US and Europe
in July 2000 and again in Europe in December 2000.
We also maintain contact with the investment
community on a regular basis through one-on-one
investor meetings, plant visits and analyst
presentations. Our annual and interim results
presentations as well as the important restructuring
announcement, which were held in Hong Kong, were
complemented by international teleconferences, giving
international investors the opportunity to speak
directly with VTech’s senior management.
Employees
Good employee relations are a hallmark of VTech as
a company. Remuneration is reviewed regularly to
ensure it remains competitive and appropriate for the
particular markets in which we operate. The Group
also provides benefits including provident fund,
insurance and medical benefits. We have implemented
a discretionary bonus program and a share option
scheme for employees, in which benefits are
determined according to the performance of the group
and individual employees.
Despite the rationalization of the workforce during the
restructuring, we have continued to enjoy the support
of employees at all levels.
We continue to invest in training and development
to maintain the skill base we need to achieve our
business objectives. We encourage employees’
continuing education and provide all individuals,
regardless of position, with equal opportunities for
self-development.
In Hong Kong and China, our Training &
Development section works closely with all business
units to identify training programme that offer the
most value in meeting VTech’s business objectives.
Numerous training programme are provided to our
staff, in areas such as management leadership,
software and language skills, technical seminars and
workshops, as well as joint post-graduate and
diploma courses offered in conjunction with
reputable mainland Chinese universities.
Customers
One of VTech’s strengths is our enduring customer
relationships. As a consumer-focused technology
company, introducing the right product for the right
market at the right time is vital to success, and only
by getting close to our customers can we determine
market trends, improve our products and build
brand loyalty.
In addition to a number of consumer awareness
campaigns, marketing of new products and product
development focus groups, we also offer a number
of feedback channels for consumers including
customer reply cards, the VTech websites and
telephone hotlines.
Our business strategy is based on a customer-
centered philosophy that is designed to create a
complete range of products that reinforce brand
loyalty throughout the consumer’s lifetime and
across generations.
Community
Social responsibility and progress in education
have been core values of VTech for decades and
give us a high level of involvement with local
communities wherever we operate. During the
year, the Group made charitable and other
donations of US$0.2 million.
We work with universities in Hong Kong and China
on research and development projects. These
programme provide the universities with “real life”
projects to challenge the young talent of tomorrow.
VTech also participates in academic bodies and offers
sponsorships for university students in Hong Kong.
Review of Operations
VTech Holdings Ltd Annual Report 2001