Financial Performance - The group's revenue for 2020 was HKD 7,628,000,000, with a profit attributable to shareholders of HKD 441,000,000, representing a 48% increase compared to 2019[6]. - The equity increased by 34% to HKD 1.27 per share, with total equity amounting to HKD 1,581,000,000[6]. - The group's revenue for the fiscal year 2020 increased by 0.8% to HKD 7,628,000,000, while profit rose by 48% to HKD 440,000,000[42]. - The total revenue of the four professional subsidiaries in 2020 was HKD 962 million, a decrease of HKD 198 million compared to the previous year, but they turned a profit exceeding expectations[22]. - The gross profit margin decreased from 9.7% to 9% due to intense market competition, impacting the profitability of new projects[42]. - The group incurred a loss of approximately HKD 25 million from stock investments, while earning HKD 13 million from short-term bonds[32]. - The company expects a significant increase in revenue from ongoing projects, which will continue into 2022, despite a decrease in gross margin[33]. Engineering Contracts and Projects - The group secured new engineering contracts worth HKD 13.1 billion, with an outstanding contract value of HKD 26 billion[10]. - The civil engineering segment generated revenue of HKD 4.6 billion, a 21% increase from 2019, while the building construction segment saw a 31% decrease to HKD 2.4 billion[13][18]. - The group secured civil engineering projects worth HKD 2,500,000,000 and building construction projects worth HKD 10,600,000,000 since the last annual report, with the largest project being a HKD 9,000,000,000 contract for the expansion of the United Christian Hospital[43]. - The total uncompleted projects increased from HKD 19,000,000,000 to HKD 26,000,000,000, equivalent to approximately three years of revenue[43]. - The group is actively bidding for government and airport authority projects, with expectations for new civil engineering projects to maintain revenue levels[13][19]. - Approximately one-third of new engineering projects were awarded based on reasonable pricing and proposals rather than the lowest bid[17]. Future Outlook - The group anticipates that building construction revenue will double in 2021, potentially exceeding HKD 9 billion, with total revenue possibly reaching HKD 10 billion[19]. - The domestic environmental infrastructure projects generated a profit of HKD 30 million in 2020, with expectations to exceed HKD 100 million by 2024 or 2025[24]. - The Wuxi wastewater treatment plant is projected to achieve a profit of over RMB 10 million in 2021, with cash flow nearing RMB 20 million[25]. - The company plans to increase the steam supply capacity in the Yumen project to over 140 tons per hour by the end of this year[30]. Employee and Management Information - The number of employees increased from 2,374 in 2019 to 2,922 in 2020 due to a significant increase in engineering projects[23]. - The total salary for 2,922 employees was approximately HKD 1,192,000,000 for the fiscal year ending December 31, 2020[45]. - The company has accumulated over 20 years of experience in civil engineering operations, indicating strong industry expertise[67]. Corporate Governance - The board consists of eight members, including two executive directors, two non-executive directors, and four independent non-executive directors[134]. - The company has complied with listing rules requiring at least three independent non-executive directors, with one possessing accounting or financial management expertise[135]. - The company has maintained compliance with the corporate governance code as per the listing rules, except for the separation of roles between the chairman and CEO[133]. - The board is responsible for protecting and enhancing long-term shareholder value through effective leadership and oversight[142]. - The company has implemented various policies and procedures to ensure good corporate governance and high standards of business conduct[144]. Risk Management - The group’s major risks and uncertainties are described in the annual report, highlighting the need for strategic risk management[78]. - The board is responsible for maintaining an effective risk management and internal control system to protect the company's assets and shareholders' interests[188]. - The internal audit team conducted a systematic review of the group's risk management and internal control systems, providing reasonable assurance of their effectiveness[189]. - The audit committee is authorized to review and assess the effectiveness of the risk management and internal control systems established by management[188]. Shareholder Information - The proposed final dividend for the year ended December 31, 2020, is HKD 0.07 per ordinary share, subject to shareholder approval[73]. - As of December 31, 2020, the company had distributable reserves amounting to HKD 1,291,000[82]. - Shareholders holding at least 10% of the paid-up capital have the right to request a special general meeting to address specific matters[198]. - The company has established a shareholder communication policy to ensure effective dialogue with shareholders, including the presence of external auditors at annual meetings[200]. Awards and Recognition - The group has achieved certifications according to international standards, including ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015[192]. - The group received multiple awards in the past year, including two Silver Awards and three Excellence Awards in environmental management[193]. - The group has been recognized for its safety management, winning several awards including the Platinum Award for Outstanding Safety and Health[195]. - The group encourages all employees and subcontractors to strive for excellence in quality management and safety practices[195].

Financial Performance - The company reported a profit attributable to shareholders of HKD 209,000,000 for the six months ended June 30, 2020, an increase from HKD 159,000,000 in the same period last year[5]. - Revenue increased by 4% to HKD 3,719,000,000 compared to HKD 3,569,000,000 in the same period of 2019[9]. - Gross profit margin improved from 9.9% to 11.2%, contributing an increase of HKD 62,000,000 in gross profit[9]. - Service revenue for the six months ended June 30, 2020, was HKD 3,719,131 thousand, an increase of 4.2% from HKD 3,569,361 thousand in the same period of 2019[44]. - Gross profit for the same period was HKD 415,184 thousand, up 17.5% from HKD 353,431 thousand year-on-year[44]. - Profit before tax increased to HKD 221,572 thousand, representing an 8.5% rise from HKD 204,257 thousand in the previous year[44]. - Net profit for the period was HKD 208,387 thousand, a 30.9% increase compared to HKD 159,052 thousand in the prior year[44]. - Basic earnings per share rose to HKD 16.8, up from HKD 13.2, reflecting a 27.3% increase[44]. - Total comprehensive income for the period was HKD 202,852 thousand, compared to HKD 158,702 thousand in the same period last year, marking a 27.8% increase[47]. Project and Investment Updates - The company secured eight new projects since the last annual report, with a total contract value of HKD 12,000,000,000[10]. - The company has ongoing projects valued at HKD 28,000,000,000, which are expected to contribute to revenue over the next three years[10]. - Investment in environmental infrastructure projects in China includes a wastewater treatment plant upgrade budgeted at HKD 106,000,000, expected to increase treatment fees by 80% post-completion[11]. - The company plans to invest HKD 220,000,000 to build four new steam plants in Gansu and Hubei provinces, with expected completion in 2021[11]. Equity and Capital Structure - As of June 30, 2020, the total equity was HKD 1,328,000,000, up from HKD 1,185,000,000 at the end of 2019[15]. - The debt-to-equity ratio improved to 23% from 31% at the end of 2019, indicating a stronger capital structure[15]. - The company had cash and cash equivalents of HKD 1,535,000,000 as of June 30, 2020, down from HKD 1,688,000,000 at the end of 2019[14]. - Total equity increased to HKD 1,328,176 thousand as of June 30, 2020, from HKD 1,184,934 thousand as of December 31, 2019, marking an increase of approximately 12.1%[51]. Shareholder Information - As of June 30, 2020, the company’s director, Mr. Dan Wei Biao, holds 121,745,228 shares, representing 9.80% of the total shares[19]. - Mr. Dan Wei Biao also has significant holdings in associated corporations, including 203,857,078 shares in Wai Kee Group Limited, which accounts for 25.70%[21]. - Top Horizon Holdings Limited, a major shareholder, owns 704,945,033 shares, representing 56.76% of the company[26]. - The company declared dividends of HKD 54,643 thousand during the reporting period, consistent with its commitment to return value to shareholders[53]. Governance and Compliance - 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[31]. - No purchases, sales, or redemptions of the company's listed securities occurred during the six months ending June 30, 2020[34]. - The audit committee reviewed the accounting policies and unaudited interim financial information for the six months ending June 30, 2020[35]. Cash Flow and Financial Position - The net cash generated from operating activities for the six months ended June 30, 2020, was (52,950) thousand HKD, compared to 622,795 thousand HKD for the same period in 2019[55]. - The net cash used in investing activities was 47,239 thousand HKD, a significant improvement from (568) thousand HKD in the previous year[55]. - The net cash used in financing activities amounted to (144,054) thousand HKD, compared to (172,834) thousand HKD in the prior period[55]. - The total cash and cash equivalents at the end of the period were 1,535,206 thousand HKD, slightly down from 1,541,746 thousand HKD at the end of the previous period[55]. Asset and Liability Management - Current assets decreased to HKD 4,047,587 thousand as of June 30, 2020, from HKD 4,656,427 thousand as of December 31, 2019, representing a decline of about 13.1%[49]. - The company's total liabilities decreased to HKD 3,415,774 thousand as of June 30, 2020, from HKD 4,039,596 thousand as of December 31, 2019, reflecting a reduction of about 15.4%[49]. - The company’s inventory increased slightly to HKD 33,859 thousand as of June 30, 2020, from HKD 33,452 thousand as of December 31, 2019, showing a growth of approximately 1.2%[49]. - The company’s receivables from joint ventures decreased to HKD 4,325 thousand as of June 30, 2020, from HKD 5,663 thousand as of December 31, 2019, a decline of about 23.6%[49]. - The company’s contract assets decreased significantly to HKD 1,528,616 thousand as of June 30, 2020, from HKD 2,135,584 thousand as of December 31, 2019, representing a decline of approximately 28.5%[49]. Employee and Management Compensation - Short-term employee benefits for key management personnel increased to HKD 62,601,000 from HKD 34,297,000, showing an increase of approximately 82.7%[137].

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].