Financial Performance - The group's revenue for the year ended December 31, 2019, was HKD 650,089,000, a decrease of approximately 10.2% compared to HKD 723,805,000 in the previous year[8]. - The cement business generated revenue of HKD 432,177,000, down about 15.2% year-on-year, while property investment revenue increased by approximately 10.5% to HKD 147,028,000[8]. - The group recorded a net profit attributable to shareholders of HKD 122,280,000, a decrease of about 15.2% from HKD 144,128,000 in the previous year, with basic earnings per share at HKD 0.242[8]. - Cement sales volume decreased by approximately 18.5% to 1,270,000 tons, with a post-tax profit of HKD 14,610,000, down about 29.9% year-on-year[9]. - The hotel business faced significant challenges due to the Hong Kong protests, leading to a decline in revenue[6]. - The group anticipates that the COVID-19 pandemic will have a certain impact on Vietnam's economy, but management believes it will not significantly affect the rental situation of the Saigon Trade Center[16]. Property and Investment - The group plans to complete the D line renovation by June 2020, which is expected to increase clinker production by over 15% to 3,500 tons per day[13]. - As of December 31, 2019, the occupancy rate of the Saigon Trade Center was 82%, up from 81% on June 30, 2019, with rental income increasing by over 10% year-on-year[16]. - The fair value of investment properties increased by approximately HKD 46.38 million for the year 2019, despite fair value losses from properties in Hong Kong and China[16]. - The group recorded a profit of approximately HKD 15.6 million from the recovery of deposits for two long-held land parcels in Ho Chi Minh City[18]. - The total value of investment properties held by the group as of December 31, 2019, is HKD 1,173,000,000[198]. Cash and Borrowings - The group's cash, bank balances, and time deposits as of December 31, 2019, amounted to HKD 381.06 million, up from HKD 258.70 million as of December 31, 2018[25]. - Total bank and other borrowings were HKD 16.25 million as of December 31, 2019, down from HKD 41.22 million in the previous year[25]. Environmental Compliance - The group has established an ISO department at the cement plant to ensure compliance with environmental policies[36]. - The group conducts quarterly environmental measurements in accordance with Vietnamese environmental legislation[50]. - The group emphasizes the importance of adhering to environmental laws and regulations for sustainable business development[36]. - The cement plant consumed 152,076 tons of coal during the fiscal year 2019[37]. - The cement plant installed a Continuous Emission Monitoring System (CEMS) in October 2017 to comply with environmental regulations, with installation completed in May 2018[66]. Employee and Workforce Management - The total employee costs for the year were approximately HKD 69.08 million, compared to HKD 65.54 million in the previous year[32]. - As of December 31, 2019, the cement plant employed approximately 1,016 staff, with all employees' base salaries exceeding local minimum wage requirements[81]. - The management turnover rate was 30.3%, with a higher rate of 41.9% among supervisory and junior staff, indicating a significant turnover among frontline employees[82]. - The average training hours per employee were between 10 to 12 hours, focusing on safety, hygiene, and customer service skills[92]. Corporate Governance - The company emphasizes high standards of corporate governance, adhering to the Hong Kong Stock Exchange's corporate governance code[107]. - The board of directors consists of eight members, including the chairperson and five executive directors, with independent non-executive directors serving a one-year term[111]. - The audit committee, composed entirely of independent non-executive directors, held two meetings in 2019, with all members present[122]. - The company has adopted a written dividend policy that considers performance, financial condition, cash flow, and operational needs when deciding on dividend distributions[135]. Community Engagement - The company has established a community investment policy focusing on poverty alleviation, children's education, and healthcare services[105]. - In 2019, the company contributed to local health improvement initiatives and supported organizations for children with facial deformities[105]. Shareholder Information - The top five customers accounted for approximately 49% of total sales, with the largest customer contributing 18%[160]. - The largest supplier accounted for approximately 19% of total purchases, with the top five suppliers making up 53% of total procurement[160]. - The company reported a total of 58,200,827 shares held by Zheng Xiang, representing 11.52% of the issued share capital[177]. - Lu En holds 276,069,662 shares, accounting for 54.64% of the issued share capital[177].

股份代號 : 0366 中期報告 2019 目錄 頁次 | --- | --- | |-----------------------------------|-------| | | | | 管理層討論及分析 | | | 業務回顧及展望 | | | 財務回顧 | | | 中期財務報表 | | | 綜合損益表 | | | 綜合全面收益表 | | | 綜合財務狀況表 | | | 綜合權益變動表 簡明綜合現金流量表 | | | 簡明綜合財務報表附註 | | | 其他資料 | | 2 5 6 7 8 10 11 12 26 陸氏集團（越南控股）有限公司 二零一九年中期報告 1 管理層討論及分析 業務回顧及展望 二零一九年上半年，陸氏集團（越南控股）有限公司（「本公司」）及其附屬公司（統稱為「本集團」）之整體業務對比去年 同期錄得穩步增長。在業務分部上，各項業務盈利均有溫和上升，而集團期內錄得一項收回土地訂金的一次性盈利約 1,560萬港元，致使集團整體盈利比去年同期增長超過五成。在營業額方面，酒店業務及物業投資業務均錄得增長，而 水泥業務則錄得下跌。由於水泥業務佔集團營業額比重較大，導致本集團於期內的整體營業額出現下 ...

Financial Performance - In 2018, the group's revenue was HKD 723,805,000, an increase of approximately 8.8% compared to HKD 665,072,000 in the previous year[9]. - The group's net profit attributable to shareholders for 2018 was HKD 144,128,000, up about 52.7% from HKD 94,417,000 in the previous year[9]. - The hotel business revenue was HKD 69,171,000, a significant increase of approximately 192.7% compared to HKD 23,633,000 in the previous year[9]. - Profit before tax increased to HKD 172.852 million in 2018, up from HKD 124.316 million in 2017, reflecting a significant growth of 39%[191]. - Net profit for the year was HKD 143.420 million, a 52.4% increase from HKD 94.096 million in the previous year[191]. - Basic and diluted earnings per share for the parent company's ordinary shareholders were HKD 0.285 in 2018, compared to HKD 0.187 in 2017, marking a 52.4% increase[191]. - The total comprehensive income for the year was HKD 120.766 million, slightly up from HKD 117.277 million in 2017[195]. Cement Business - The cement business recorded a sales volume of 1,559,000 tons, an increase of approximately 4.8% compared to 1,487,000 tons in the previous year[10]. - The overall cement sales volume in Vietnam reached 65.08 million tons in 2018, an increase of approximately 9% compared to the previous year[10]. - The cement business's after-tax profit was HKD 20,829,000, a decrease of approximately 47% compared to the previous year[10]. - The cement plant consumed 194,885 tons of coal during the fiscal year 2018[39]. - The cement plant consumed approximately 547,808 m³ of water in 2018, primarily sourced from groundwater and rainwater[63]. - The cement plant's total electricity consumption was 3,090,040 kWh, with 99% of light bulbs replaced by LED[69]. Environmental Compliance - The company has established an ISO department in its Vietnam cement plant to ensure compliance with environmental policies[38]. - The company conducts quarterly environmental measurements in accordance with Vietnamese environmental legislation[52]. - The company recognizes the importance of adhering to environmental laws and regulations for sustainable business development[38]. - The installation of the Continuous Emission Monitoring System (CEMS) was completed in May 2018 to monitor gas emissions[56]. - The company is committed to reducing emissions through effective technological measures[43]. - All environmental measurements in 2018 met the national standards set by Vietnam[56]. Employee and Management - The group has approximately 1,200 employees, with total employee costs amounting to HKD 65,536,000 in 2018, a slight increase from HKD 64,635,000 in 2017[34]. - The average training time per employee was 10-12 hours until December 31, 2018[77]. - A total of 1,363 employees participated in 72 training courses at the cement plant, focusing on updated industrial safety practices and technical knowledge[75]. - The hotel achieved a management turnover rate of 61.1%, with a higher rate of 75.4% among supervisory and junior staff[69]. - The company has established a recognized management standard system, certified with ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2007[85]. Corporate Governance - The company adheres to high standards of corporate governance, emphasizing a high-quality board and effective accountability[89]. - The board of directors consists of eight members, including the chairperson and four executive directors, with independent non-executive directors serving a one-year term subject to re-election[91]. - The audit committee, composed entirely of independent non-executive directors, held two meetings in 2018, reviewing financial reports and discussing accounting matters[102]. - The company has implemented a continuous professional development program for directors, including training on relevant laws and regulations[98]. - The company ensures that all shareholders are treated fairly and equitably, with voting results published on the company and Hong Kong Stock Exchange websites[115]. Investment and Assets - The total value of investment properties held by the group as of December 31, 2018, was HKD 1,130,000,000[170]. - The group owned a hotel property in Hong Kong with a carrying amount of HKD 610,000,000 as of December 31, 2018[172]. - The management assessed the recoverable amount of the hotel property based on fair value less costs to sell, considering estimates such as expected rental rates and discount rates[172]. - Current assets increased significantly from HKD 346,012 thousand in 2017 to HKD 472,279 thousand in 2018, representing a growth of about 36.4%[197]. - Cash and cash equivalents rose from HKD 198,434 thousand in 2017 to HKD 258,703 thousand in 2018, an increase of approximately 30.3%[197].