Financial Performance - For the six months ended June 30, 2025, the company reported revenue of HKD 175,958,000, a decrease of 10.3% compared to HKD 196,396,000 for the same period in 2024[4] - Gross profit for the same period was HKD 70,746,000, down from HKD 73,790,000, reflecting a gross margin of 40.2%[4] - The company achieved a net profit of HKD 36,619,000, an increase of 6.0% from HKD 34,565,000 in the prior year[5] - Basic and diluted earnings per share for the period were HKD 0.074, compared to HKD 0.069 in the previous year, representing a 7.2% increase[4] - The group’s pre-tax profit for the six months ended June 30, 2025, was HKD 45,880,000, slightly down from HKD 46,301,000 in 2024[18] - The group reported a net profit of HKD 36,619,000 for the six months ended June 30, 2025, compared to HKD 34,565,000 in 2024, an increase of about 5.9%[21] Revenue Breakdown - Revenue from cement sales decreased to HKD 72,144,000 in 2025 from HKD 84,359,000 in 2024, representing a decline of approximately 14.4%[14] - The hotel operations segment reported revenue of HKD 30,758,000 in 2025, an increase from HKD 28,938,000 in 2024, marking a growth of approximately 6.3%[14] - The property investment segment generated revenue of HKD 14,417,000 from property management and related services in 2025, compared to HKD 16,268,000 in 2024, a decrease of about 11.4%[16] - The property investment business reported revenue of HKD 68,174,000, a decrease of approximately 9.2% from HKD 75,117,000 in the previous year[30] - The cement business generated revenue of HKD 72,144,000, down about 14.5% from HKD 84,359,000 year-on-year[30] - The hotel business achieved revenue of HKD 30,758,000, an increase of about 6.3% compared to HKD 28,938,000 last year[30] Assets and Liabilities - Total assets less current liabilities as of June 30, 2025, were HKD 2,536,938,000, slightly up from HKD 2,529,444,000 at the end of 2024[7] - The company reported a cash and bank balance of HKD 573,921,000, an increase from HKD 549,179,000 at the end of 2024[6] - Inventory levels rose to HKD 41,837,000 from HKD 38,566,000, indicating a 5.9% increase[6] - The company’s non-current assets totaled HKD 1,991,076,000, down from HKD 2,020,112,000, reflecting a decrease of 1.4%[6] - As of June 30, 2025, the net accounts receivable amounted to HKD 40,774,000, an increase from HKD 25,974,000 as of December 31, 2024[24] - The accounts payable totaled HKD 14,968,000 as of June 30, 2025, up from HKD 8,182,000 at the end of 2024[25] Costs and Expenses - The cost of goods sold for the six months ended June 30, 2025, was HKD 73,636,000, down from HKD 87,913,000 in 2024, a decrease of about 16.2%[18] - The total tax expense for the period was HKD 9,261,000 in 2025, compared to HKD 11,736,000 in 2024, indicating a reduction of approximately 21.1%[21] - The total employee cost for the six-month period ending June 30, 2025, was approximately HKD 26,115,000, with around 87% of the 840 employees located in Vietnam[46] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.02 per share, totaling approximately HKD 10,049,000, consistent with the previous year's dividend[23] - The board has declared an interim dividend of HKD 0.02 per share[40] Market Outlook and Risks - The company anticipates gradual improvement in the Vietnamese real estate market in the second half of 2025, which may benefit its cement operations[29] - The group faced foreign exchange risk due to the depreciation of the Vietnamese Dong against the Hong Kong Dollar, with a loss of HKD 1,358,000 during the period[43] Operational Highlights - In the first half of 2025, the cement business recorded a sales volume of approximately 194,000 tons, a decrease of about 8.9% compared to 213,000 tons in the same period last year[31] - The cement business reported a net loss of HKD 2,207,000, a reduction of approximately 52.7% from a net loss of HKD 4,663,000 in the same period last year[31] - The occupancy rate of the Saigon Trade Center in Ho Chi Minh City decreased to 70.1% as of June 30, 2025, down from 80.3% a year earlier[33] - The hotel business in Hong Kong contributed operating revenue of HKD 30,722,000, an increase of 6.2% compared to the same period last year[36] - The average daily room rate for the Hong Kong Tuen Mun Belt Hotel increased by 8.3% compared to the same period last year, achieving an occupancy rate of 89.7%[36] - The hotel business recorded a significant reduction in loss to HKD 452,000, down 89.6% from a loss of HKD 4,346,000 in the same period last year[36] - The "LE CARRÉ HUE" hotel project in Vietnam is expected to commence operations in the second half of 2025, with preparations ongoing[38] Governance and Compliance - The company has complied with the corporate governance code, except for the provision B.2.2 regarding the rotation of directors every three years[49] - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and internal controls for the six-month period ending June 30, 2025[50] - The company has adopted a standard code for securities trading by directors, confirming compliance during the period ending June 30, 2025[51] - The interim report for the six-month period ending June 30, 2025, will be sent to shareholders and made available on the company's website and the Hong Kong Stock Exchange's website[52] Capital Expenditures - As of June 30, 2025, the group's capital commitments for property, plant, and equipment amounted to HKD 13,544,000, a decrease from HKD 14,263,000 as of December 31, 2024[44] Share Repurchase - The company repurchased shares on June 25, 2025, at a price of HKD 0.78 per share, totaling HKD 1,560.00 for 2,000 shares, which will be canceled[48]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 文 件 的 內 容 概 不 負 責 ， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明 ， 並 明 確 表 示 ， 概 不 對 因 本 文 件 全 部 或 任 何 部 分 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任 。 LUKS GROUP (VIETNAM HOLDINGS) COMPANY LIMITED 陸 氏 集 團 （ 陸 氏 集 團 （ 越 南 控 股 越 南 控 股 越 南 控 股 ） 有 限 公 司 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：366） 董事會會議日期 *只 供 識 別 用 途 陸 氏 集 團 (越 南 控 股 )有 限 公 司 （ 「 本 公 司 」 ） 董 事 會 （ 「 董 事 會 」 ） 謹 此 公 佈 ， 本 公 司 訂 於 二 零 二 五 年 八 月 二 十 一 日 （ 星 期 四 ） 下 午 二 時 正 於 九 龍 土 瓜 灣 上 鄉 道39至 41號5字 樓 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 陸氏集團（越南控股）有限公司（於百慕達註冊成立之有限公司） 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00366 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 760,000,000 | HKD | | 0.01 | HKD | | 7,600,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 760,000,000 | HKD | | 0.01 | HKD | | 7,600 ...

Summary of Key Points Core Viewpoint - On June 25, 28 Hong Kong-listed companies conducted share buybacks totaling 31.02 million shares, with a total buyback amount of 708 million HKD [1][2]. Group 1: Major Buybacks - Tencent Holdings repurchased 979,000 shares for 500 million HKD, with a highest price of 514.50 HKD and a lowest price of 508.50 HKD, bringing its total buyback amount for the year to 35.04 billion HKD [1][2]. - AIA Group repurchased 2.5 million shares for 177 million HKD, with a highest price of 71.70 HKD and a lowest price of 70.05 HKD, totaling 14.54 billion HKD in buybacks for the year [1][2]. - Andeli Juice repurchased 500,000 shares for 8.73 million HKD, with a highest price of 17.50 HKD and a lowest price of 17.22 HKD, totaling 7.50 million HKD in buybacks for the year [1][2]. Group 2: Buyback Statistics - The highest buyback amount on June 25 was from Tencent Holdings at 500 million HKD, followed by AIA Group at 177 million HKD [1][2]. - In terms of share quantity, Youzan had the highest buyback volume with 13 million shares, followed by Ying Group and China Electric Power with 5 million shares and 3.8 million shares, respectively [1][2]. - Notably, companies like Dexin Services and Jinyong Investment conducted their first buybacks of the year on this date [2].

Financial Performance - For the fiscal year ending December 31, 2024, the group's revenue was HKD 372,746,000, a decrease of approximately 12.8% compared to HKD 427,308,000 in the previous year[8]. - The cement business generated revenue of HKD 154,190,000, down about 21.1% year-on-year, while property investment revenue was HKD 145,982,000, a decrease of 4.6%[8]. - The group recorded a net profit after tax of HKD 18,604,000 for 2024, compared to a net loss of HKD 98,650,000 in 2023, marking a significant turnaround[8]. - The basic earnings per share for 2024 was HKD 0.038, compared to a loss per share of HKD 0.195 in 2023[8]. - The hotel business contributed HKD 61,798,000 in revenue for the year 2024, a slight decrease of approximately 1.4% compared to HKD 62,652,000 in 2023[17]. Cement Business Performance - The cement plant's sales volume was approximately 388,700 tons, a decrease of about 16.5% from 465,600 tons in the previous year[11]. - The cement business incurred a net loss after tax of approximately HKD 44,913,000, a reduction of about 72.0% compared to a loss of HKD 160,415,000 in the previous year[11]. - The group faced challenges in the cement industry due to oversupply and low domestic demand, with total cement supply in Vietnam reaching approximately 122 million tons against a domestic consumption of only about 60 million tons[10]. Investment and Development Plans - The group plans to open a new hotel, Le Carré Hue, in Vietnam in the second quarter of 2025, anticipating steady growth in hotel performance due to the recovery of the tourism sector in Hong Kong[6]. - The group plans to complete the construction and interior decoration of the "Hue Square" project in Vietnam by Q1 2025, with the hotel section preparing for opening[19]. Environmental and Sustainability Initiatives - The group has set a target to reduce greenhouse gas emissions by 2% by the end of 2025, with hazardous waste reduced to 0.03 kg per ton of clinker and non-hazardous waste to 0.18 kg per ton of clinker[47]. - The company recognizes the importance of complying with environmental laws and has established an ISO department in its Vietnam plant to ensure adherence to environmental policies[59]. - The cement plant is committed to reducing methane emissions by at least 30% by 2030 and achieving net-zero emissions by 2050[96]. - The company aims to minimize its environmental footprint and supports local community initiatives[57]. Employee and Labor Practices - The total employee costs (excluding directors' remuneration) for the year ended December 31, 2024, were approximately HKD 56,129,000, down from HKD 61,357,000 in the previous year[31]. - The group employed approximately 820 people as of December 31, 2024, with about 86% of employees located in Vietnam[31]. - As of December 31, 2024, the employee turnover rate is 19%, with 50% of the turnover occurring among frontline staff[100]. - The company has signed collective labor agreements with unions to ensure fair working conditions for employees[98]. Corporate Governance - The company emphasizes its commitment to high corporate governance standards and compliance with the Hong Kong Stock Exchange's corporate governance code[128]. - The board of directors consists of eight members, including both executive and independent non-executive directors[130]. - The company has established measures to prevent child labor and forced labor in its recruitment practices[125]. - The board has established a nomination committee to review the board's structure and composition annually, ensuring alignment with the company's strategy[149]. Community Engagement - The group is committed to community investment, including support for Médecins Sans Frontières (MSF) and recycling initiatives in Hong Kong[118]. - The group actively participates in community events, such as the "iRun" marathon, promoting inclusivity for individuals with disabilities[119]. Risk Management - The group faced foreign exchange risk due to the depreciation of the Vietnamese Dong against the Hong Kong Dollar by approximately 5.25% as of December 31, 2024, compared to December 31, 2023, resulting in a foreign exchange loss of HKD 2,747,000 during the year[28]. - The company has implemented measures to diversify suppliers and develop contingency plans to mitigate supply chain risks related to climate events[97].

Financial Performance - For the fiscal year ending December 31, 2024, total revenue decreased to HKD 372,746,000 from HKD 427,308,000, representing a decline of approximately 12.7%[3] - Gross profit increased to HKD 144,635,000, up from HKD 137,203,000, reflecting a growth of about 5.2%[3] - The company reported a profit before tax of HKD 45,710,000, a significant recovery from a loss of HKD 69,156,000 in the previous year[3] - Net profit for the year was HKD 18,604,000, compared to a loss of HKD 98,650,000 in the prior year, indicating a turnaround in performance[3] - Basic and diluted earnings per share improved to HKD 0.038 from a loss of HKD 0.195 per share[3] - The group recorded a consolidated net profit after tax of HKD 18,604,000 for 2024, compared to a net loss of HKD 98,650,000 for the year ending December 31, 2023[38] Revenue Breakdown - The cement products segment generated revenue of HKD 154,190,000 in 2024, down 21.1% from HKD 195,411,000 in 2023[18] - The hotel operations segment reported revenue of HKD 61,798,000, a slight decrease of 1.4% compared to HKD 62,652,000 in 2023[23] - The property investment segment generated total revenue of HKD 146,454,000 in 2024, a decrease of 4.4% from HKD 153,599,000 in 2023[18] - The cement business generated revenue of HKD 154,190,000, down about 21.1% year-on-year, while property investment revenue was HKD 145,982,000, a decrease of approximately 4.6%[37] Asset and Equity Changes - Total assets less current liabilities decreased to HKD 2,529,444,000 from HKD 2,598,498,000, a reduction of approximately 2.7%[8] - Non-current assets totaled HKD 2,020,112,000, down from HKD 2,151,990,000, a decline of approximately 6.1%[6] - Total equity decreased to HKD 2,293,987,000 from HKD 2,357,109,000, reflecting a decline of about 2.7%[8] Cash Flow and Financial Position - Cash and bank balances increased to HKD 549,179,000 from HKD 465,369,000, showing a growth of about 18%[6] - The group reported a net receivable value of HKD 25,974 in 2024, down from HKD 29,076 in 2023, a decrease of about 10.5%[32] - The group's accounts payable decreased to HKD 8,182 in 2024 from HKD 11,929 in 2023, reflecting a reduction of approximately 31.5%[33] - As of December 31, 2024, the group's cash, bank balances, and time deposits amounted to HKD 549,179,000, an increase from HKD 465,369,000 as of December 31, 2023[50] Foreign Exchange and Economic Impact - The company experienced a foreign exchange loss of HKD 61,539,000, compared to a loss of HKD 33,816,000 in the previous year[4] - The exchange rate of the Vietnamese Dong against the Hong Kong Dollar depreciated by approximately 5.25% by the end of 2024, impacting revenue and profit reported in HKD[36] - The group faced a foreign exchange loss of HKD 2,747,000 due to a 5.25% depreciation of the Vietnamese Dong against the Hong Kong Dollar during the year[53] Operational Challenges and Outlook - The cement business faced significant challenges in 2024, with domestic consumption demand at approximately 60 million tons against a total supply of about 122 million tons, leading to intense price competition[39] - The group's cement plant continued to incur losses in 2024, although operating losses were reduced compared to the previous year due to cost control efforts[36] - The outlook for the cement business in 2025 remains challenging, although some improvements are expected, particularly with government initiatives to stimulate demand in central Vietnam[41] Hotel and Property Developments - The hotel business in Hong Kong showed stable performance in 2024, benefiting from the return of visitors and government tourism policies[36] - The hotel business in Tuen Mun, Hong Kong, experienced a slight decline in occupancy rate from 91.3% in 2023 to 90.4% in 2024, while the average daily rate (ADR) increased by 2.1%[45] - The group plans to open a new hotel, Le Carré Hue, in Vietnam in the second quarter of 2025, anticipating steady growth in hotel performance due to the recovery of the tourism industry in Hong Kong[37] - The construction and interior decoration of the "Hue Square" project in Vietnam is expected to be completed in Q1 2025, with the hotel section, Le Carré Hue, preparing for its grand opening in Q2 2025[47] Governance and Compliance - The company has adhered to the corporate governance code, except for code provision B.2.2, which allows the chairman to remain in position for stability reasons[61] - All directors confirmed compliance with the standard code for securities transactions during the period from January 1, 2024, to December 31, 2024[64] - The audit committee has reviewed the accounting principles and policies for the fiscal year ending December 31, 2024[62] Dividend and Shareholder Information - The board proposed a final dividend of HKD 0.02 per share, totaling HKD 0.04 per share for the year, including an interim dividend[49] - The annual general meeting is scheduled for May 28, 2025, at 3 PM in Hong Kong[65] - The company will publish its annual report and performance announcement on its website and the Hong Kong Stock Exchange's designated site[66]

Financial Performance - For the first half of 2024, the group's revenue was HKD 196,396,000, a decrease of approximately 11.6% compared to HKD 222,264,000 in the same period last year[5] - The cement business generated revenue of HKD 84,359,000, down about 22.5% from HKD 108,809,000 year-on-year[5] - The group achieved an unaudited profit attributable to equity holders of HKD 34,509,000, an increase of approximately 16.1% from HKD 29,729,000 in the same period last year[5] - Gross profit for the same period was HKD 73,790,000, representing an increase of 14.2% from HKD 64,521,000 in 2023[18] - The group reported a profit before tax of HKD 46,301,000, up 11.6% from HKD 41,593,000 in the previous year[18] - Net profit for the period was HKD 34,565,000, an increase of 16.7% compared to HKD 29,595,000 in 2023[19] - Basic and diluted earnings per share increased to HKD 0.069 from HKD 0.059, reflecting a growth of 16.9%[18] - The group reported a profit for the period of HKD 34,565,000, an increase from HKD 29,595,000 in the same period last year[38] - The adjusted profit before tax was HKD 46,301,000, compared to HKD 41,593,000 in the previous year[38] Cement Business - The group's cement plant in Vietnam recorded a sales volume of approximately 213,000 tons, a decrease of about 17.1% from 257,000 tons in the same period last year[6] - The after-tax loss from the cement business was HKD 4,663,000, a reduction of about 62% compared to the after-tax loss of HKD 12,272,000 in the previous year[6] - The outlook for the second half of 2024 remains challenging for the cement business due to ongoing weakness in the real estate and construction sectors in Vietnam[4] - Cement sales amounted to HKD 84,359,000, down 22.5% from HKD 108,809,000 in the previous year[41] - The cement products segment reported a loss of HKD 6,849,000, while the property investment segment showed a profit of HKD 60,301,000[38] Currency Impact - The Vietnamese dong depreciated approximately 4.7% against the Hong Kong dollar from December 31, 2023, and about 7.7% compared to June 30, 2023, impacting revenue and profit when converted to HKD[3] - The group plans to reduce deposits in Vietnamese dong to mitigate the impact of currency depreciation on assets[3] - The group faced a foreign exchange loss of HKD 3,589,000 due to a 4.66% depreciation of the Vietnamese Dong against the Hong Kong Dollar[15] - The group recorded a foreign exchange loss of HKD 54,221,000 for the period, compared to a gain of HKD 4,257,000 in 2023[19] Hotel Business - The hotel business in Hong Kong saw a 64% increase in visitors, but the performance began to decline in Q2 2024 compared to the previous year[4] - The hotel business contributed HKD 28,938,000 in revenue for the first half of 2024, a slight decrease of 0.4% compared to the same period last year[10] - The average occupancy rate of the Hong Kong Tuen Mun Belte Hotel was 88.2%, down from 92% year-on-year, while the average room rate increased by 4.3%[10] - The average daily room rate for Hong Kong hotels fell by 9% in Q2 2024 compared to the same period last year[10] - The "LE CARRÉ HUE" hotel project in Vietnam is expected to commence operations by the end of 2024 to early 2025, with 50 rooms and retail areas[12] Economic Environment - In the first half of 2024, Vietnam's GDP growth rate reached 6.4%, but office space demand in Ho Chi Minh City remained weak due to high interest rates and economic uncertainty[9] - The supply of office space in Ho Chi Minh City increased by approximately 10%, leading to a vacancy rate of about 20% for Grade A offices, the highest in the past decade[9] - The rental rate for Grade A offices decreased by approximately 2-3% in Q2 2024 compared to the previous year[9] - The occupancy rate of the Saigon Trade Center reached 80% as of June 30, 2024, up from 78% at the end of 2023, with moderate growth in average rental rates and revenue[9] Cash Flow and Assets - As of June 30, 2024, the group's cash and bank balances amounted to HKD 497,984,000, an increase from HKD 465,369,000 at the end of 2023[13] - Operating cash flow generated was HKD 73,983,000, a decrease from HKD 81,196,000 in the previous year, reflecting a decline of about 9%[25] - The company experienced a net cash inflow from operating activities of HKD 58,725,000, down from HKD 66,646,000, indicating a decrease of approximately 12%[25] - Total assets less current liabilities as of June 30, 2024, were HKD 2,560,768,000, a decrease from HKD 2,598,498,000 at the end of 2023[22] - Non-current assets totaled HKD 2,089,856,000, down from HKD 2,151,990,000 at the end of 2023[21] Dividends and Shareholder Information - The company paid dividends of HKD 10,052,000 during the period, consistent with the previous year[25] - The interim dividend declared for the six months ended June 30, 2024, is HKD 0.02 per share, consistent with the interim dividend of HKD 0.02 per share for the same period in 2023[61] - As of June 30, 2024, CC (Holdings) Limited held 36,912,027 shares, representing 7.34% of the issued share capital[67] - The Luks Family (PTC) Limited held 272,824,862 shares, accounting for 54.29% of the issued share capital as of June 30, 2024[67] - The total number of shares held by Zheng Xiang was 58,200,827, which is 11.58% of the issued share capital[63] Governance and Compliance - The company has complied with the corporate governance code, except for deviation from code provision B.2.2, which allows the chairman to serve without rotation due to strategic importance[69] - The audit committee consists of three independent non-executive directors who reviewed the accounting principles and internal controls for the six months ending June 30, 2024[72]

香港交易及結算所有限公司及香港聯合交易所有限公司對本文件的內容概不負責，對其準確性或完整性亦不發表任何聲 明，並明確表示，概不對因本文件全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 母公司普通股股東應佔每股盈利 基本及攤薄 8 港幣 6.9 仙 港幣 5.9 仙 1 LUKS GROUP (VIETNAM HOLDINGS) COMPANY LIMITED 陸 氏 集 團 （ 陸 氏 集 團 （ 越 南 控 股 越 南 控 股 越 南 控 股 ） 有 限 公 司 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：366） 截至二零二四年 截至二零二四年六月三十日止六個月之中期業績公佈 六月三十日止六個月之中期業績公佈 陸氏集團(越南控股)有限公司（「本公司」）董事會欣然宣佈截至二零二四年六月三十日止六個月本公司及其附 屬公司（統稱「本集團」）之未經審核綜合中期業績連同二零二三年同期比較數字。此簡明綜合中期財務報表 為未經核數師審核，但已由本公司審核委員會審閱。 綜合損益表 截至二零二四年六月三十日止六個月 | --- | --- | --- | --- | --- | ...

Financial Performance - For the fiscal year ending December 31, 2023, the group's revenue was HKD 427,308,000, a decrease of approximately 13.3% compared to HKD 492,875,000 in the previous year[10]. - The group recorded a consolidated net loss of HKD 98,650,000 for the year, compared to a net profit of HKD 48,498,000 in the previous year, with a basic loss per share of HKD 0.195[13]. - The cement business generated revenue of HKD 195,411,000, down about 30.6% year-on-year, while property investment revenue increased by approximately 6.0% to HKD 153,002,000, and hotel business revenue rose by 19.9% to HKD 62,652,000[10]. - The cement business recorded a post-tax loss of approximately HKD 160,415,000 for 2023, including an impairment provision of HKD 139,211,000, compared to a loss of HKD 16,328,000 in the previous year[17]. - The fair value gain on investment properties decreased by approximately HKD 14,498,000 compared to the previous year, impacting the group's asset values[13]. Cement Business Challenges - The decline in the cement business was attributed to a significant drop in domestic demand, with total cement consumption in Vietnam at 57.5 million tons, while supply reached 120 million tons, leading to intense competition[14]. - The outlook for 2024 remains uncertain, particularly for the cement business due to ongoing challenges in the real estate and construction sectors in Vietnam[9]. Hotel Business Performance - The group's hotel business in Hong Kong benefited from the lifting of pandemic restrictions, leading to stable growth in the Tuen Mun Belte Hotel[9]. - The hotel business in Hong Kong generated operating revenue of HKD 62,652,000 in 2023, an increase of nearly 20% compared to the previous year[23]. - The average room rate in the Hong Kong hotel business increased by 13% in 2023, with an average occupancy rate of approximately 91.3%[23]. Environmental and Sustainability Initiatives - The group has set a target to reduce gas emissions by 2% by the end of 2025, with specific goals for hazardous waste and non-hazardous waste per ton of clinker produced[47]. - The company recognizes the importance of complying with environmental laws and has established an ISO department to ensure adherence to environmental policies[62]. - The company aims to minimize its environmental footprint and supports local community initiatives[60]. - The company has implemented energy-saving measures, including replacing lighting with energy-efficient alternatives like LED bulbs[88]. - The company aims to reduce greenhouse gas emissions from its cement production facilities through improved production processes and energy efficiency measures[98]. Governance and Management - The company has established a robust governance structure with a three-tier framework, ensuring accountability and control throughout the organization[56]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules, with some deviations noted[145]. - The board of directors consists of eight members, including five executive directors and three independent non-executive directors[148]. - The company has appointed three co-CEOs since January 17, 2023, ensuring compliance with the separation of roles between the chairman and CEO[146]. - The Audit Committee is composed entirely of independent non-executive directors, ensuring oversight of financial reporting and internal controls[162]. Community Investment and Social Responsibility - The group actively participates in community investment, including a donation of HKD 80,000 to support the "Epilepsy Friendly" festival in 2023[127]. - The group has contributed to local health improvements through the Vietnam cement plant, supporting disadvantaged children and providing rewards for 335 children of employees with excellent academic performance in 2023[129]. - The group has implemented a corporate social responsibility policy in Vietnam, focusing on support for impoverished communities, children's education, and healthcare services[127]. - The group is committed to promoting a circular economy through its recycling programs, aligning with environmental sustainability goals[125]. Employee and Training Initiatives - The total employee costs for the year ended December 31, 2023, were approximately HKD 61,357,000, an increase from HKD 58,280,000 in the previous year, representing a rise of about 3.7%[38]. - The company employs approximately 890 staff, with about 87% located in Vietnam as of December 31, 2023[38]. - A total of 726 employees participated in training courses at the cement plant, focusing on updated industrial safety practices and technical knowledge[111]. - The average training time per employee during the reporting year was approximately 10-13 hours[111]. Financial Position and Dividends - As of December 31, 2023, the company's cash, bank balances, and time deposits amounted to HKD 465,369,000, an increase from HKD 444,409,000 in the previous year[31]. - The company plans to distribute a final dividend of HKD 0.02 per share, totaling HKD 0.04 per share for the year[28]. - The group reported a mid-term dividend of HKD 0.02 per share distributed on October 13, 2023, and proposed a final dividend of HKD 0.02 per share for shareholders listed on June 7, 2024[196].

Employee Information - The total number of employees as of December 31, 2023, is approximately 890, with about 87% located in Vietnam[1] - Total employee costs (excluding director remuneration) for the year ended December 31, 2023, were approximately HKD 61,357,000, compared to HKD 58,280,000 for the year ended December 31, 2022[1] Dividend and Shareholder Information - The proposed final dividend is HKD 0.02 per share, unchanged from the previous year[2] - The group proposed a final dividend of HKD 0.02 per share, totaling HKD 0.04 per share for the year, including an interim dividend[20] Corporate Governance - The company has complied with the corporate governance code, except for specific provisions B.2.2, C.1.6, C.2.1, and F.2.2[5] - The roles of the chairman and CEO were separated on January 17, 2023, with the appointment of co-CEOs[6] - The company has adopted the standard code for securities transactions by directors and confirmed compliance for the period from January 1, 2023, to December 31, 2023[9] Financial Performance - In 2023, the group's revenue was HKD 427,308,000, a decrease of approximately 13.3% compared to HKD 492,875,000 in the previous year[14] - The group recorded a net loss of HKD 98,650,000 for the year, compared to a net profit of HKD 48,498,000 in the previous year[14] - Gross profit increased to HKD 137,203,000, up 4.9% from HKD 130,920,000 in the previous year[30] - The group reported a loss of HKD 98,650,000 for the year 2023, compared to a profit of HKD 48,498,000 in 2022[46] - The total tax expense for the year was HKD 29,494,000, an increase from HKD 27,720,000 in 2022[58] Revenue Breakdown - The cement business generated revenue of HKD 195,411,000, down about 30.6% year-on-year[14] - The property investment segment's revenue increased by approximately 6.0% to HKD 153,002,000[14] - The hotel business revenue rose by approximately 19.9% to HKD 62,652,000[14] - Revenue from external customers in Vietnam decreased to HKD 327,390,000 in 2023 from HKD 404,189,000 in 2022, representing a decline of 19.0%[48] - Total revenue for the group in 2023 was HKD 427,308,000, a decrease of 13.3% from HKD 492,875,000 in 2022[51] Asset Management - The group's total assets less current liabilities as of December 31, 2023, amounted to HKD 2,598,498,000, down from HKD 2,748,505,000 in 2022[35] - The group's non-current assets totaled HKD 2,151,990,000, down from HKD 2,371,122,000 in the previous year[35] - The company's total assets decreased by 9.3% from the previous year, reflecting a strategic shift in asset management[48] Cash Flow and Financing - As of December 31, 2023, the group's cash, bank balances, and time deposits amounted to HKD 465,369,000, an increase from HKD 444,409,000 at the end of 2022[23] - The group has no bank borrowings as of December 31, 2023, compared to HKD 67,392,000 in borrowings at the end of 2022[23] - Financing costs increased to HKD 4,090,000 in 2023 from HKD 3,651,000 in 2022, reflecting higher bank borrowing interest[55] Market Conditions and Outlook - The cement business faced a significant decline in domestic demand, with total cement consumption in Vietnam at 57.5 million tons, while supply reached 120 million tons[17] - The outlook for 2024 indicates continued challenges for the cement business due to a sluggish real estate market and construction industry[15] - The group anticipates that the number of visitors to Hong Kong will reach 46 million in 2024, a 35% increase from 2023, benefiting the hotel business[20] Hotel Operations - In 2023, the average occupancy rate of the group's hotel in Hong Kong reached approximately 91.3%, up from 84.3% in 2022, with an average room rate increase of 13%[20] - The group's hotel business contributed operating revenue of HKD 62,652,000 in 2023, representing a nearly 20% growth compared to the previous year[20] - The group recorded a loss of HKD 4,870,000 in the hotel business after depreciation in 2023, an improvement of 46% from a loss of HKD 9,012,000 in the previous year[20] - The hotel operations segment reported a loss of HKD (5,662,000) in 2023, compared to a loss of HKD (9,791,000) in 2022, showing an improvement[46] Impairments and Provisions - The group incurred a tax-adjusted loss of approximately HKD 160,415,000 in the cement business, including an impairment provision of HKD 139,211,000[17] Other Financial Metrics - Other income and gains totaled HKD 24,760,000 in 2023, an increase of 14.9% from HKD 21,610,000 in 2022[51] - The adjusted profit/loss before tax for the cement products segment was HKD (166,132,000) in 2023, compared to HKD (21,288,000) in 2022[46] - The aging analysis of accounts receivable shows a significant decrease in amounts overdue over 120 days, from HKD 8,410,000 in 2022 to HKD 5,129,000 in 2023[63]