Build King 利 基 控 股 有 限 公 司 (於百慕達註冊成立之有限公司) (股份代號：00240) = | --- | --- | --- | --- | --- | --- | |-------|-------|-------|----------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | SHAW AUDITORIA | | | 中期報告 目 | --- | --- | |------------------------------|-------| | | | | | | | | 頁次 | | 中期業績摘要 2 | | | 管理層討論及分析 3 | | | 權益披露 5 | | | 企業管治 7 | | | 其他資料 8 | | | 簡明綜合財務報表審閱報告 | 9 | | 簡明綜合損益表 10 | | | 簡明綜合損益及其他全面收益表 | 11 | | 簡明綜合財務狀況表 12 | | | 簡明綜合權益變動表 14 | | | 簡明綜合現金流量表 15 | | | 簡明綜合財務報表附註 ...

Financial Performance - The group's revenue for 2021 was HKD 10,030,000,000, an increase of nearly 31% compared to 2020[6] - Profit attributable to owners decreased from HKD 440,000,000 in 2020 to HKD 295,000,000 in 2021[6] - The company's revenue for the fiscal year 2021 increased by 31% to HKD 10,030,000,000, up from HKD 7,628,000,000 in 2020[44] - Gross profit rose by 7% to HKD 740,000,000, although the gross profit margin decreased from 9% to 7% due to intense competition in new engineering projects[44] - The net profit after tax decreased by 34% to HKD 292,000,000, primarily due to a one-time government subsidy of HKD 116,000,000 received in 2020 and losses from bond investments[45] Revenue Sources - The construction industry accounted for 99% of the group's revenue, with civil engineering revenue at HKD 5,300,000,000, a 15% increase year-on-year[11] - The group’s building construction revenue was HKD 4,200,000,000, a significant increase of 75% compared to 2020[16] - The group received new engineering projects worth HKD 8,100,000,000 during the year, with an outstanding contract value of approximately HKD 25,500,000,000[9] - The company successfully secured new engineering projects worth HKD 8,100,000,000, with HKD 6,800,000,000 from government civil engineering projects and HKD 1,300,000,000 from private developers[45] Dividends and Shareholder Returns - The group proposed a final dividend of HKD 0.06 per share, down from HKD 0.07 in 2020[5] - The company plans to distribute a dividend of HKD 0.06 per share, equivalent to 25% of the earnings per share of HKD 0.24[41] - The final dividend is expected to be paid on June 15, 2022, pending shareholder approval[75] Employee and Talent Management - The number of employees increased from 2,922 in 2020 to 3,222 in 2021, reflecting the company's efforts to address the talent shortage in the construction industry[22] - The company is addressing talent shortages in the construction industry due to increased competition for skilled workers[15] - The company is actively recruiting non-construction personnel to alleviate the talent shortage and is willing to provide necessary training[24] Financial Position and Assets - As of December 31, 2021, the group's current assets amounted to HKD 2,155,000,000, an increase from HKD 2,085,000,000 as of December 31, 2020[49] - The total equity as of December 31, 2021, was HKD 1,807,000,000, up from HKD 1,589,000,000 in the previous year, reflecting a growth of approximately 13.8%[50] - The group's interest-bearing borrowings totaled HKD 810,000,000 as of December 31, 2021, compared to HKD 520,000,000 a year earlier, indicating a significant increase of 55.8%[49] - Cash and cash equivalents increased to HKD 1,755,000,000 from HKD 1,515,000,000, representing a growth of 15.8%[49] Governance and Compliance - The company has complied with the corporate governance code as per the listing rules throughout the year[117] - The company has established a whistleblowing mechanism for employees to report any misconduct related to financial reporting and internal controls[145] - The company is committed to maintaining the highest standards of corporate governance in compliance with the listing rules[191] Environmental, Social, and Governance (ESG) Initiatives - The board has established a clear environmental, social, and governance (ESG) policy, integrating it into the company's management handbook[183] - The company emphasizes the importance of stakeholder engagement in sustainable development, conducting regular meetings to understand their views on ESG policies[183] - The company has achieved certifications in quality management and environmental standards, including ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015, reflecting its commitment to quality and environmental management[171] Risk Management - The board is responsible for maintaining an effective risk management and internal control system to safeguard the company's assets and shareholders' interests, with a systematic review conducted by the internal audit team[167] - The internal audit team employed a risk-based audit approach to assess the effectiveness of the group's risk management and internal control systems, providing reasonable assurance of their effectiveness[168] Future Outlook - The company anticipates securing HKD 10,000,000,000 in new engineering projects in 2022[9] - The company anticipates that two steam supply projects will start generating profits in 2022, while two additional projects are expected to begin operations by summer 2022[35] - The company aims to earn HKD 100,000,000 from environmental infrastructure investments by 2025, delayed from the previous target of 2024[37]

Financial Performance - The group reported a revenue increase of 26% to HKD 4,678,000,000 for the six months ended June 30, 2021[10]. - Gross profit margin decreased from 11% in the first half of 2020 to 7% in the current period, resulting in a gross profit reduction of HKD 73,000,000[10]. - Net profit after tax decreased from HKD 208,000,000 to HKD 147,000,000, a decline of HKD 61,000,000[10]. - Service revenue for the six months ended June 30, 2021, was HKD 4,677,801 thousand, an increase from HKD 3,719,131 thousand in the same period of 2020, representing a growth of approximately 25.8%[47]. - The gross profit for the six months ended June 30, 2021, was HKD 342,400 thousand, down from HKD 415,184 thousand in 2020, indicating a decrease of about 17.5%[47]. - The net profit for the period was HKD 146,857 thousand, compared to HKD 208,387 thousand in the previous year, reflecting a decline of approximately 29.5%[50]. - The total comprehensive income for the six months ended June 30, 2021, was HKD 150,777 thousand, down from HKD 202,852 thousand in 2020, a decrease of about 25.7%[50]. - The company's profit attributable to owners for the six months ended June 30, 2021, was HKD 147,389,000, a decrease of 29.5% compared to HKD 209,130,000 for the same period in 2020[86]. Project and Contract Information - The group successfully secured five projects with a total contract value of HKD 5,200,000,000, including a major project worth HKD 4,000,000,000 expected to be completed by 2026[10]. - The total amount of unfinished projects as of the report date is HKD 27,000,000,000, consistent with the level at the end of 2020[10]. - The construction contract revenue for Hong Kong was HKD 4,602,176, while the revenue from China was HKD 75,625, contributing to the overall revenue[69]. - The company reported construction material purchases from subsidiaries amounting to HKD 70,684,000 for the six months ended June 30, 2021, compared to HKD 31,240,000 in 2020, representing a significant increase of 126%[125]. - Construction contract revenue from a joint venture with a major holding company was HKD 29,146,000, down from HKD 289,258,000 in the previous year, indicating a decline of 90%[125]. - The company recorded construction contract revenue of HKD 41,389,000 for the six months ended June 30, 2021, up from HKD 29,881,000 in 2020, reflecting an increase of 38%[125]. Financial Position and Equity - The group’s cash and cash equivalents amounted to HKD 1,534,000,000 as of June 30, 2021, compared to HKD 1,515,000,000 at the end of 2020[16]. - Total equity increased to HKD 1,653,000,000 from HKD 1,589,000,000 at the end of 2020, reflecting a 4% increase[18]. - The group’s debt-to-equity ratio rose to 47% from 33% at the end of 2020, indicating increased leverage[18]. - The total liabilities increased to HKD 4,109,686 thousand as of June 30, 2021, from HKD 3,779,807 thousand at the end of 2020, indicating a rise of about 8.7%[52]. - The company’s total liabilities increased to HKD 2,867,274,000 as of June 30, 2021, from HKD 2,616,149,000 as of December 31, 2020, reflecting a rise of 9.6%[107]. - The company’s non-current liabilities totaled HKD 1,720,295 as of June 30, 2021, compared to HKD 1,663,437 at the end of 2020, reflecting an increase of approximately 3.4%[55]. Cash Flow and Financing Activities - The net cash generated from operating activities for the six months ended June 30, 2021, was HKD 209,291, a significant improvement compared to a net cash outflow of HKD 52,950 for the same period in 2020[61]. - The company raised new bank loans totaling HKD 395,908 during the financing activities, compared to HKD 59,045 in the previous period[61]. - The cash outflow from investing activities was HKD 342,090 for the six months ended June 30, 2021, compared to an inflow of HKD 47,239 in the same period of 2020[61]. - The company paid dividends amounting to HKD 86,931 during the period, compared to HKD 59,610 in the previous period[61]. Governance and Management - The company has complied with the corporate governance code as per the listing rules, except for the separation of roles between the chairman and CEO[35]. - The company has maintained a clear distinction of responsibilities between the board and management, ensuring governance balance[35]. - The company’s governance structure is believed to be beneficial for its operations and business[35]. - Mr. Dan Wei Biao's annual salary was adjusted from HKD 3,000,000 to HKD 8,000,000 effective January 1, 2021[41]. - The company has no other disclosures regarding the interests of directors or their associates in the company's shares or related securities[29]. Assets and Liabilities - Non-current assets increased to HKD 1,008,418 thousand as of June 30, 2021, from HKD 935,295 thousand as of December 31, 2020, representing a growth of approximately 7.8%[52]. - Current assets totaled HKD 4,821,563 thousand as of June 30, 2021, compared to HKD 4,507,949 thousand at the end of 2020, an increase of about 6.9%[52]. - The total reserves increased to HKD 1,487,045 as of June 30, 2021, up from HKD 1,456,715 as of December 31, 2020, indicating a growth of approximately 2.2%[55]. - The accounts receivable from trade contracts aged 0 to 60 days amounted to HKD 190,491,000, down from HKD 231,232,000 as of December 31, 2020[96]. - The total contract assets as of June 30, 2021, were HKD 1,931,199,000, an increase from HKD 1,793,164,000 at the end of 2020[100]. - The company reported a decrease in trade receivables over 90 days to HKD 35,883,000 from HKD 226,630,000 in the previous year[96]. Taxation and Compliance - The total tax expense for the six months ended June 30, 2021, was HKD 39,476,000, significantly higher than HKD 13,185,000 in the same period of 2020, reflecting an increase in the effective tax rate[8]. - The company adopted revised Hong Kong Financial Reporting Standards during the reporting period, which did not have a significant impact on the financial position or performance[66].

BuildKing 利 基 控 股 有 限 公 司 (於百慕遣註冊成立之有限公司) (股份代號：00240) | --- | --- | |-------|--------------------------| | | 目 錄 | | | | | | 財務摘要 | | | 主席函件 | | | 管理層討論及分析 | | | 董事及高層管理成員 | | | 董事會報告書 | | | 企業管治報告書 | | | 環境、社會及管治報告書 | | | 獨立核數師報告書 | | | 綜合損益表 | | | 綜合損益及其他全面收益表 | | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 綜合現金流量表 | | | 綜合財務報表附註 | | | 財務概要 | | | 公司資料 | 頁次 2 3 8 10 13 23 37 61 66 67 68 70 71 73 151 152 財務摘要 財務表現摘要 每股權益**增加百分比 34% 權益 1,581,000,000港元 每股權益 1.27港元 集團收入 7,628,000,000港元 本公司擁有人應佔溢利 441,000,000港元 每股末期股息 7 港仙 ...

BuildKing 利 基 控 股 有 限 公 司 (於百慕達註冊成立之有限公司) (股份代號：00240) 零二零年中期報告 HON 0 目 錄 | --- | --- | |------------------------------|-------| | | | | | | | | 頁次 | | 中期業績摘要 2 | | | 管理層討論及分析 3 | | | 權益披露 5 | | | 企業管治 7 | | | 其他資料 8 | | | 簡明綜合財務報表審閱報告 | 9 | | 簡明綜合損益表 10 | | | 簡明綜合損益及其他全面收益表 | 11 | | 簡明綜合財務狀況表 12 | | | 簡明綜合權益變動表 14 | | | 簡明綜合現金流量表 15 | | | 簡明綜合財務報表附註 16 | | | 公司資料 32 | | 中期業績摘要 利基控股有限公司（「本公司」）董事會（「董事會」）宣佈本公司及其附屬公司（「本集團」）截至二零二零年六月三十日止 六個月之中期業績。 財務表現摘要 本公司擁有人應佔溢利 209,000,000港元 ** 權益指本公司擁有人應佔權益 中期股息 董事會不建議派發截至 ...

Financial Performance - The group's revenue for 2019 was HKD 7,568 million, an increase of 20% compared to 2018[8] - Profit attributable to the company's owners was HKD 296 million, a decrease of 28% from 2018[8] - The group's equity increased by 25% to HKD 1,178 million, with earnings per share at HKD 0.95[5] - The group's civil engineering revenue for 2019 was HKD 3,800 million, a decrease of 16% from 2018[12] - The total revenue of the professional engineering subsidiaries reached HKD 1.16 billion in 2019, a 16% increase compared to 2018, despite a loss of HKD 20 million, which is an improvement of HKD 16 million from the previous year's loss[20] - The group expects slight revenue growth in 2020, with operational costs reduced to around 3%, which is considered a competitive advantage[23] - The group anticipates that the three professional subsidiaries will turn around their performance in 2020, following significant management restructuring[23] - The group reported that the top five customers accounted for approximately 78% of total revenue, with the largest customer representing about 50%[65] - The group incurred a loss of HKD 14 million from a US pharmaceutical stock investment in 2019, but the company has started to break even as of December[33] - The group’s financial performance and position over the past five fiscal years are summarized in the report[76] Construction and Engineering Projects - The construction industry accounted for 99.6% of the group's revenue, primarily based in Hong Kong[11] - The group secured new civil engineering projects worth HKD 4,000 million in 2019, equivalent to the total completed civil engineering revenue for the year[12] - The group aims for 20% of future projects to be secured through innovative technologies[15] - The group secured 22 new projects since the 2018 annual report, with a total contract value of approximately HKD 8,000,000,000, including HKD 4,000,000,000 for building projects and HKD 4,000,000,000 for civil engineering projects[40] - The building construction sector achieved a record revenue of HKD 3,500,000,000 in 2019, driven by significant projects such as the Yuen Long residential development[41] - The group is actively participating in several large building construction project tenders[19] Employee and Operational Growth - The number of employees increased from 2,065 in 2018 to 2,374 by the end of 2019, reflecting the growth in ongoing projects[22] - The group has 2,374 employees with a total salary of approximately HKD 1,170,000,000 for the fiscal year ending December 31, 2019[43] Investments and Future Plans - The group plans to invest in domestic environmental infrastructure projects, aiming for profits of over HKD 100 million within four to five years[27] - The Wuxi wastewater treatment plant project is expected to generate annual revenues exceeding RMB 10 million, with cash flow potentially reaching RMB 15 million to RMB 20 million[27] - The group has invested in a residential heating project in Dezhou, generating stable annual cash flow of RMB 8 million to RMB 10 million[28] - The group has signed contracts to supply steam to factories in Gansu province, with expectations of recovering invested capital within six to seven years[32] - The group plans to recover its investment in the Tianjin Huiji Dadi Investment Limited within five to six years, following an increase in investment from HKD 57,000,000 to HKD 141,000,000[42] Corporate Governance and Management - The company has a strong board with members possessing extensive experience in finance, engineering, and management, including independent directors with over 40 years of financial and accounting experience[55][56] - The management team includes professionals with over 35 years of experience in civil engineering and construction, ensuring robust operational oversight[59][60] - The company emphasizes its commitment to corporate governance through the establishment of various committees, including audit and remuneration committees[55] - The company has a diverse board composition, with members from various professional backgrounds, contributing to a well-rounded decision-making process[54] - The company has adhered to the corporate governance code as per the listing rules, except for the separation of roles between the chairman and the CEO[118] - The company has implemented various policies and procedures to ensure good corporate governance and high standards of business conduct[130] Risk Management and Internal Controls - The audit committee believes that the risk management and internal control systems of the company and its subsidiaries are effective and adequate[171] - The internal audit team conducted a systematic review of the group's risk management and internal control systems, providing reasonable assurance of their effectiveness[171] - The internal audit team identifies and assesses potential business risks, ensuring compliance with internal policies and procedures[171] Shareholder Engagement and Dividends - The board proposed a final dividend of HKD 0.048 per share for the year ended December 31, 2019, subject to shareholder approval[66] - The company has adopted a dividend policy aimed at providing stable and sustainable returns to shareholders, considering financial status, operational needs, and future expansion plans[186] - The company emphasizes effective communication with shareholders through various channels, including annual reports and shareholder meetings, to ensure transparency and engagement[187] Environmental and Social Responsibility - The company is committed to integrating sustainable development concepts into all business operations, aiming to create a better future for employees, the environment, and the community[192] - The company has established clear environmental, social, and governance policies, which are included in the management handbook to guide business decisions[195] - The company encourages all employees and subcontractors to continuously improve performance in quality management, occupational safety, and environmental protection[181] - The company has been recognized for its commitment to occupational health and safety, receiving several awards from the Occupational Safety and Health Council[178] - The company received multiple awards for environmental management, including the Hong Kong Green Enterprise Award 2019 for Outstanding Environmental Management (Project Management) - Bronze and Excellence Awards[181] Compliance and Anti-Corruption - The group strictly adheres to all anti-corruption laws and regulations, viewing corruption as a long-term challenge to sustainable development[200] - A code of conduct and complaint policy have been established, requiring all employees to comply with the group's policies[200] - In 2019, a total of 205 employees participated in workshops focused on integrity and anti-corruption[200] - No corruption cases involving the group or its employees were reported during the fiscal year[200]

Financial Performance - The group's revenue increased by 14% to HKD 3,569,000,000 for the six months ended June 30, 2019, while the profit attributable to owners decreased by 32% to HKD 164,000,000[8]. - The company reported service revenue of HKD 3,569,361 thousand for the six months ended June 30, 2019, compared to HKD 3,129,087 thousand in the same period of 2018, representing an increase of approximately 14%[48]. - Gross profit for the six months ended June 30, 2019, was HKD 353,431 thousand, down from HKD 430,976 thousand in 2018, indicating a decrease of about 18%[48]. - The company recorded a profit before tax of HKD 204,257 thousand for the six months ended June 30, 2019, compared to HKD 285,638 thousand in 2018, reflecting a decline of approximately 29%[48]. - Net profit attributable to the owners of the company for the period was HKD 164,040 thousand, down from HKD 231,272 thousand in the previous year, a decrease of around 29%[48]. - The total comprehensive income for the six months ended June 30, 2019, was HKD 158,702 thousand, compared to HKD 231,181 thousand in 2018, indicating a decrease of approximately 31%[50]. Cash and Liquidity - As of June 30, 2019, the group's cash and cash equivalents amounted to HKD 1,542,000,000, an increase from HKD 1,093,000,000 as of December 31, 2018[13]. - The total cash and cash equivalents at the end of the period were HKD 1,541,746,000, up from HKD 1,134,836,000 at the end of the previous year, reflecting a growth of 36%[60]. - The net cash generated from operating activities for the six months ended June 30, 2019, was HKD 622,795,000, compared to HKD 220,958,000 for the same period in 2018, representing an increase of 182%[60]. - The company experienced a net increase in cash and cash equivalents of HKD 449,393,000, compared to HKD 187,301,000 in the previous year, representing an increase of 140%[60]. Equity and Debt - The total equity as of June 30, 2019, was HKD 1,048,000,000, up from HKD 944,000,000 as of December 31, 2018[14]. - The group's capital debt ratio improved to 27% from 40% as of December 31, 2018[14]. - The company secured a general bank financing of up to HKD 18,000,000, which is to be repaid over 48 months[31]. - The company secured a term loan financing of up to HKD 30,000,000 from a bank, with a maturity of 24 months from the first drawdown date[34]. - The company's bank loans due within one year decreased from HKD 253,400 thousand to HKD 156,314 thousand, a decline of approximately 38.3%[53]. Shareholder Information - As of June 30, 2019, the company’s director, Mr. Dan Wei Biao, holds 123,755,228 shares, representing 9.97% of the total shares[17]. - Mr. Dan Wei Biao also has significant holdings in associated corporations, including 195,957,078 shares in Wai Kee Group Limited, which accounts for 24.71%[18]. - The major shareholder, Top Horizon Holdings Limited, holds 704,945,033 shares, representing 56.76% of the company[23]. Corporate Governance - The company has complied with the corporate governance code as per the listing rules, except for the separation of roles between the chairman and the CEO[26]. - The company’s operational structure is designed to maintain a balance of power and governance between the board and management[26]. - The company’s board of directors confirmed compliance with the securities trading code during the six months ending June 30, 2019[27]. Investments and Acquisitions - The company acquired a 65% interest in a joint venture previously held by Hsin Chong, which is now a wholly-owned subsidiary, following financial difficulties faced by Hsin Chong[155]. - The joint venture contributed additional profits of HKD 59,663,000 for the period ending June 30, 2019, with total revenue from the joint venture reported at HKD 522,270,000[159]. - The net assets acquired from the subsidiary amounted to HKD 368,000, with total assets including property, machinery, and cash valued at HKD 133,161,000[157]. Operational Highlights - The total value of uncompleted contracts decreased slightly from HKD 18,000,000,000 to HKD 17,000,000,000 since the last report[8]. - The company reported a decrease in dividends received from a joint venture to HKD 2,847,000 from HKD 3,349,000, a decline of 15%[60]. - The company plans to upgrade the Wuxi sewage treatment plant to meet higher wastewater discharge standards, with a current treatment capacity of 42,500 tons per day[10]. Employee Information - The group has 2,373 employees, with total compensation for the six months amounting to approximately HKD 594,000,000[11]. - Short-term employee benefits increased to HKD 34,297,000 in 2019 from HKD 27,000,000 in 2018, reflecting a growth of 27%[154]. Segment Performance - For the six months ended June 30, 2019, total segment revenue was HKD 3,569,361, with HKD 3,557,893 from Hong Kong and HKD 11,468 from China[102]. - The segment profit for Hong Kong was HKD 209,057, while the profit from China was HKD 1,437, resulting in a total segment profit of HKD 210,125[102]. Financial Ratios and Metrics - The effective tax rate for the six months ended June 30, 2019, was 16.5%, consistent with the same period in 2018[115]. - Basic earnings per share for the six months ended June 30, 2019, was HKD 13.2, compared to HKD 18.6 in 2018, representing a decline of approximately 29%[48].

Financial Performance - The company's equity increased by HKD 232 million, representing a 33% rise to HKD 0.76 per share[8]. - Revenue for 2018 was HKD 6.3 billion, a slight increase of 5% compared to 2017[8]. - Shareholders' profit attributable to the company was HKD 412 million, a significant increase of 124%, with HKD 142 million attributed to accounting changes[8]. - The group's revenue for the year was HKD 6.3 billion, an increase of 5.3%, while profit rose by 121% to HKD 414 million, influenced by a new accounting standard[38]. - The gross profit increased by 50% to HKD 696 million, attributed to the completion of several large projects during the year[38]. - The investment income for 2018 was HKD 4.7 million, with expectations for strong cash flow in 2019[32]. - The proposed dividend is HKD 0.044 per share, representing 20% of the profit per share of HKD 0.22, reflecting the company's ongoing expansion needs[35]. - The company anticipates that overall performance in 2019 and possibly 2020 should be good, despite the increased revenue base of HKD 7 billion[28]. Revenue Segmentation - The construction segment accounted for 99% of total revenue, primarily from projects in Hong Kong[10]. - The civil engineering revenue was HKD 4.5 billion, a 7% increase from 2017, with 30 ongoing projects[11]. - Building construction revenue was HKD 1.2 billion, showing a slight increase, with 8 ongoing projects[20]. - The total revenue of the three professional engineering subsidiaries was HKD 1 billion, a decrease of 10% compared to 2017, resulting in a loss of HKD 36 million in the professional engineering sector[25]. Project and Contract Management - The company aims for a revenue target of HKD 7 billion in 2019, with expected profit growth[8]. - The company aims to secure over HKD 10 billion in new project contracts in 2019 to ensure continued growth[28]. - The civil engineering department successfully secured 12 projects with a total contract value exceeding HKD 6 billion, contributing to new contracts worth over HKD 10 billion for the year[39]. - The building construction department achieved a record year with 5 new projects valued at a total of HKD 4.6 billion, including a residential development project in Yuen Long worth HKD 1.7 billion[41]. Operational Capacity and Investments - The average daily treatment capacity of the Wuxi wastewater treatment plant is approximately 45,000 tons, maintaining last year's profit level[30]. - The company plans to invest RMB 500 million in infrastructure projects over the next four to five years, expecting stable annual income of RMB 60 million to RMB 80 million[31]. - The group is progressing towards the completion of infrastructure works for the Tuen Mun-Chek Lap Kok Link, targeting completion in 2019[40]. - The deep cement mixing project at the Hong Kong Airport's three-runway system was completed by year-end, contributing to favorable financial performance[40]. Corporate Governance - The company emphasizes its commitment to corporate governance, ensuring fair treatment of all shareholders and allowing them to appoint representatives for voting at shareholder meetings[181]. - The company has adopted a dividend policy aimed at providing stable and sustainable returns to shareholders, considering financial status and future expansion plans[184]. - The company has implemented good corporate governance policies and practices, ensuring compliance with statutory and regulatory requirements[128]. - The board is responsible for protecting and enhancing long-term shareholder value and approving the group's strategies and policies[127]. - The company has established three board committees: Audit Committee, Nomination Committee, and Remuneration Committee, to oversee specific aspects of the company's affairs[148]. Risk Management and Internal Controls - The board is responsible for maintaining an effective risk management and internal control system to safeguard the company's assets and shareholders' interests[173]. - The internal audit team conducted a systematic review of the group's risk management and internal control systems, providing reasonable assurance of their effectiveness[173]. - The audit committee believes that the risk management and internal control systems of the company and its subsidiaries are effective and adequate[173]. Employee and Talent Management - The total number of employees slightly decreased from 2,075 in 2017 to 2,065[26]. - The company emphasizes the importance of talent as a key asset and aims to create a fair, diverse, and inclusive work environment[197]. - In 2018, 116 employees participated in workshops focused on integrity and anti-corruption, reflecting the company's commitment to maintaining a transparent management system[196]. - The employee structure has shown a steady increase from 1,419 in 2014 to 2,065 in 2018, although there was a slight decline in 2018[199]. Shareholder Communication - The company is dedicated to maintaining effective communication with shareholders and investors through financial reports and timely disclosures[185]. - The company integrates sustainability into its business operations, focusing on creating a better future for employees, the environment, and the community[189]. - The company has established clear environmental, social, and governance policies, which are reviewed annually and updated as necessary[192].