Revenue Performance - For the first half of 2021, the group's revenue was HKD 277,665,000, a decrease of approximately 1.3% compared to HKD 281,440,000 in the same period last year[7] - The cement business generated revenue of HKD 175,567,000, representing a decrease of about 6.4% year-on-year[7] - The property investment segment recorded revenue of HKD 76,970,000, an increase of approximately 3% compared to the previous year[7] - The hotel business achieved revenue of HKD 18,822,000, marking a significant increase of about 38.4% year-on-year[7] - Total revenue from customer contracts for the six months ended June 30, 2021, was HKD 218,148,000, a decrease from HKD 224,488,000 in the same period of 2020, representing a decline of approximately 2.0%[78] - Revenue from electronic product sales increased to HKD 6,306,000, up 13.5% from HKD 5,554,000 in the previous year[74] - Total revenue from investment property rental was HKD 59,517,000, compared to HKD 56,952,000 in the prior year, reflecting a growth of 4.5%[74] Profitability - The group recorded an unaudited profit attributable to shareholders of HKD 42,488,000, up approximately 41.9% from HKD 29,939,000 in the same period last year[9] - The net profit for the period was HKD 42,109,000, up 45.1% from HKD 29,039,000 in the previous year[34] - The company reported a pre-tax profit of HKD 7,892,000 for the six months ended June 30, 2021, compared to HKD 3,884,000 in the same period of 2020, indicating an increase of approximately 102.6%[81] - The company recorded a total tax expense of HKD 15,453,000 for the six months ended June 30, 2021, compared to HKD 12,715,000 in the same period of 2020, representing an increase of approximately 21.6%[87] Earnings Per Share - The basic earnings per share for the first six months were approximately HKD 0.085, compared to HKD 0.059 in the same period last year[9] - The company’s basic and diluted earnings per share increased to HKD 0.085, compared to HKD 0.059 in the same period last year[34] Cash Flow and Financial Position - The group’s cash, bank balances, and time deposits as of June 30, 2021, amounted to HKD 480,226,000, an increase from HKD 454,752,000 at the end of 2020[24] - Operating cash flow for the six months ended June 30, 2021, was HKD 26,612,000, down from HKD 46,702,000 in the previous year, indicating a decline of approximately 43%[46] - Cash and cash equivalents at the end of June 30, 2021, were HKD 264,219,000, a decrease from HKD 373,882,000 at the end of June 30, 2020[49] - The company’s total assets less current liabilities amounted to HKD 2,742,194,000, an increase from HKD 2,706,041,000 as of December 31, 2020[40] - The company’s total equity rose to HKD 2,490,526,000, compared to HKD 2,456,143,000 at the end of the previous year[40] Dividends - The group declared an interim dividend of HKD 0.03 per share to shareholders[21] - The company declared an interim dividend of HKD 0.03 per share, totaling HKD 15,077,000, compared to HKD 10,106,000 in the previous year, an increase of approximately 49.2%[89] - The interim dividend declared for the six months ended June 30, 2021, is HKD 0.03 per share, compared to HKD 0.02 per share for the same period in 2020, reflecting a 50% increase[106] Market Conditions and Future Outlook - The group anticipates that the new wave of COVID-19 will negatively impact cement sales in the second half of the year, although the exact extent remains uncertain[11] - Vietnam's GDP growth for the first half of 2021 was 5.64%, making it one of the better-performing economies globally[7] - The group continues to focus on expanding its market presence and enhancing its product offerings in response to changing market conditions[74] - The group’s management believes that the company is well-positioned for future growth despite the challenges posed by the market[98] Capital Commitments and Investments - The group’s capital commitments as of June 30, 2021, were HKD 170,996,000, a significant increase from HKD 4,672,000 at the end of 2020[29] - The group acquired a commercial and residential property in Hong Kong for HKD 183.8 million, which includes approximately 2,000 square feet of commercial space and 16,000 square feet of residential space[20] - The company purchased property, plant, and equipment amounting to approximately HKD 2,266,000 during the six months ended June 30, 2021, a decrease from HKD 10,545,000 in the same period of 2020[91] Financial Ratios and Metrics - The company’s total liabilities decreased from HKD 1,999,461,000 as of January 1, 2021, to HKD 1,999,461,000 as of June 30, 2021, indicating stable financial leverage[43] - The company’s financing costs increased slightly to HKD 866,000 from HKD 831,000 year-on-year[34] - The company incurred a total interest expense of HKD 866,000 for the six months ended June 30, 2021, compared to HKD 831,000 in the same period of 2020[46] Accounting Policies and Compliance - The group has adopted the revised Hong Kong Financial Reporting Standards effective from January 1, 2021, which did not have any impact on the financial position and performance[60] - The group has implemented a practical expedient for lease accounting related to rent concessions directly arising from the COVID-19 pandemic, which allows for certain lease modifications without affecting the financial statements[61] - The group has not identified any significant impacts from the accounting policy changes on its financial reporting for the current period[60] - The audit committee, consisting of three independent non-executive directors, reviewed the accounting principles and policies adopted by the company[122]

Financial Performance - The group's total revenue for the year ended December 31, 2020, was HKD 528,495,000, a decrease of approximately 18.7% compared to HKD 650,089,000 in the previous year[11]. - The cement business generated revenue of HKD 334,880,000, down approximately 22.5% year-on-year[11]. - The property investment business recorded revenue of HKD 150,162,000, a slight increase of about 2.1% compared to the previous year[11]. - The hotel business revenue was HKD 31,609,000, reflecting a decline of approximately 44.5% year-on-year[11]. - The group's net profit attributable to shareholders was HKD 61,511,000, down about 49.7% from HKD 122,280,000 in the previous year[11]. - Basic earnings per share were HKD 0.122, compared to HKD 0.242 in 2019[11]. Cement Market Insights - Vietnam's GDP growth rate for 2020 was 2.91%, the lowest in a decade but among the best globally[10]. - Cement sales in Vietnam decreased by approximately 4.3% in 2020 due to the impact of the Covid-19 pandemic[13]. - The group anticipates a recovery in the cement demand in the second half of 2021, driven by a rebound in the real estate market and increased public investment[10]. - The cement plant's sales and profit declined in 2020, with cement and clinker sales at 969,000 tons, down approximately 23.7% from 1,270,000 tons in the previous year[15]. - The after-tax profit for the cement business was HKD 7,332,000, a decrease of about 49.8% compared to HKD 14,606,000 in the previous year[15]. - Vietnam's domestic cement consumption is expected to slowly recover in 2021, driven by a rebound in the real estate market and increased public spending on infrastructure[16]. Environmental Compliance and Initiatives - The company conducts quarterly environmental measurements in accordance with Vietnamese environmental legislation to monitor emissions and pollutants[56]. - The company plans to continue monitoring air quality, noise, and wastewater in compliance with national standards[57]. - The company aims to implement effective technical measures to reduce NOx emissions generated during the clinker burning process[47]. - The cement plant installed a real-time emission monitoring system (CEMS) to comply with environmental regulations, approved for use in August 2020[59]. - The hotel implemented energy-saving measures, achieving 99% LED lighting usage and utilizing high-efficiency water-cooled chillers[70]. - The cement plant's waste heat recovery system is under development, with 90% of the upgrade work completed by the end of 2020[64]. Employee Welfare and Training - As of December 31, 2020, the cement plant employed approximately 967 staff, all of whom received salaries above the local minimum wage[73]. - The cement plant provided training to all 967 employees, focusing on industrial safety practices and technical knowledge, with an average training time of 8-10 hours per employee[80][81]. - The hotel has implemented various training programs to enhance employee skills, including emergency response and occupational safety training[80]. - The youngest employee at the cement plant was 22 years old, ensuring compliance with child labor laws[84]. - The company is committed to providing a safe working environment and has not reported any significant non-compliance with labor laws during the reporting period[85]. Corporate Governance - The group emphasizes high corporate governance standards, adhering to the Hong Kong Stock Exchange's corporate governance code[99]. - The roles of the chairman and CEO are held by the same individual, which deviates from the corporate governance code but is deemed acceptable for business stability[100]. - 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 subject to re-election[101]. - The audit committee, composed entirely of independent non-executive directors, held two meetings in 2020, reviewing financial reports and discussing management's analysis of business performance[114][115]. - The company has not faced any claims against its directors and officers during the year, indicating effective risk management[109]. Shareholder Information - The group paid HKD 2,405,000 to Ernst & Young for audit services and HKD 92,500 for tax services for the fiscal year ending December 31, 2020[130]. - The board proposed a final dividend of HKD 0.03 per share to shareholders listed on June 21, 2021, following an interim dividend of HKD 0.02 per share paid on October 16, 2020[141]. - As of December 31, 2020, the company had distributable reserves of approximately HKD 739,336,000, of which HKD 15,077,000 is proposed for the final dividend[152]. - The company has confirmed that at least 25% of its issued share capital is held by the public as of the report date[182]. - The independent auditor's report states that the consolidated financial statements reflect the group's financial position accurately as of December 31, 2020[185]. Investment Properties and Valuation - The total value of investment properties held by the group as of December 31, 2020, is HKD 1,182,000,000[189]. - The hotel business of the company holds properties valued at approximately HKD 549 million as of December 31, 2020[192]. - Management has engaged external valuers to estimate the fair value of hotel properties, which is critical due to the net book amount of HKD 549 million[192]. - The impairment assessment of hotel properties is significant as it relies on estimates such as expected rental rates, projected cash flows, and discount rates[192].

Financial Performance - The group's revenue for the first half of 2020 was HKD 281,440,000, a decrease of approximately 14.9% compared to HKD 330,624,000 in the same period last year[7] - The cement business generated revenue of HKD 187,563,000, down about 14.5% year-on-year, while property investment revenue increased by approximately 5% to HKD 74,724,000[7] - The hotel business recorded revenue of HKD 13,599,000, a significant decline of approximately 59.4% compared to the previous year[7] - The group reported a profit attributable to equity holders of HKD 29,939,000, a decrease of about 46.9% from HKD 56,339,000 in the same period last year[8] - Revenue from cement sales decreased to HKD 187,563,000, down 14.5% from HKD 219,307,000 in the previous year[59] - Hotel operations revenue dropped significantly to HKD 13,599,000, a decline of 59.4% compared to HKD 33,520,000 in the prior year[59] - Total revenue for the six months ended June 30, 2020, was HKD 281,440,000, down 15% from HKD 330,624,000 in the same period last year[59] - The group reported a pre-tax profit of HKD 29,039,000, compared to HKD 56,208,000 in the previous year[67] - Total tax expense for the period was HKD 12,715,000, down from HKD 15,146,000 in the same period last year[71] Business Segment Performance - The cement plant's sales volume was 550,000 tons, down approximately 16.5% from 659,000 tons in the previous year[11] - The after-tax profit from the cement business was HKD 5,314,000, a decrease of about 58.7% compared to HKD 12,879,000 in the same period last year[11] - The average occupancy rate for the hotel business in the first half of 2020 was 53.5%, down approximately 40% from 89.4% in the same period last year[18] - The hotel business generated a revenue contribution of HKD 13,599,000 for the first half of 2020, representing a decline of 59.4% compared to the same period last year[18] - The average room rate decreased by approximately 25% compared to the same period last year[18] - The group recorded a loss of HKD 15,714,000 for the hotel business after depreciation, compared to a loss of HKD 4,933,000 in the previous year[18] Economic Context - Vietnam's GDP growth rate for the first half of 2020 was 1.81%, the lowest in 12 years, but still better than many other countries experiencing economic contraction[7] - The group anticipates continued pressure on business performance in the short term due to the ongoing global pandemic[6] Strategic Initiatives - The group plans to increase public investment and expedite residential and infrastructure projects to support the economy in the second half of the year[12] - The group plans to delay the development of the "Hue Plaza" project in Vietnam due to the impact of the pandemic and government restrictions[21] Cash Flow and Financial Position - The group’s cash, bank balances, and time deposits as of June 30, 2020, amounted to HKD 414,630,000, an increase from HKD 381,055,000 as of December 31, 2019[25] - The total bank and other borrowings were HKD 12,500,000 as of June 30, 2020, down from HKD 16,250,000 as of December 31, 2019[25] - The group recorded an exchange loss of HKD 2,404,000 due to currency fluctuations, with the Vietnamese Dong depreciating by approximately 0.65% against the Hong Kong Dollar[29] - Current assets increased to HKD 555,301,000, up 12.43% from HKD 493,979,000 in the previous period[38] - Total liabilities increased to HKD 180,858,000, representing a rise of 14.59% from HKD 157,829,000 as of December 31, 2019[39] - The net asset value as of June 30, 2020, was HKD 2,425,603,000, slightly up from HKD 2,422,470,000 at the end of 2019[39] - The company reported an increase in inventory to HKD 80,465,000, which is a 17.54% increase from HKD 68,463,000[38] - Cash and cash equivalents rose to HKD 414,630,000, an increase of 8.73% from HKD 381,055,000[38] - The total equity attributable to owners of the parent company was HKD 2,454,009,000, compared to HKD 2,450,758,000 at the end of 2019[39] - Non-current liabilities decreased to HKD 242,363,000, down 2.83% from HKD 248,077,000[39] - The company’s total assets less current liabilities stood at HKD 2,667,966,000, a slight decrease from HKD 2,670,547,000[39] - The company’s retained earnings as of June 30, 2020, were HKD 2,014,241,000, reflecting an increase from HKD 1,999,461,000[43] Cash Flow Analysis - Operating cash flow for the six months ended June 30, 2020, was HKD 57,677,000, a decrease of 63.0% compared to HKD 155,938,000 in 2019[46] - Net cash inflow from operating activities was HKD 46,702,000, down from HKD 134,103,000, representing a decline of 65.1%[46] - Net cash inflow from investing activities increased to HKD 74,446,000 from HKD 63,268,000, an increase of 17.3%[46] - Financing activities resulted in a net cash outflow of HKD 4,492,000, compared to a net inflow of HKD 9,738,000 in the previous year[46] - Cash and cash equivalents at the end of the period were HKD 373,882,000, slightly down from HKD 381,946,000 in 2019[46] - The cash balance analysis showed cash and bank deposits of HKD 106,435,000, down from HKD 115,709,000, a decrease of 8.8%[46] - The company reported a significant reduction in interest paid, amounting to HKD 831,000 compared to HKD 1,301,000 in the previous year[46] - The total cash inflow from operating activities was significantly impacted by a decrease in revenue due to market conditions[46] - The company maintained a strong cash position despite the challenges, with total cash and cash equivalents at HKD 373,882,000[46] Shareholder Information - The board declared an interim dividend of HKD 0.02 per share for shareholders[22] - The interim dividend declared is HKD 0.02 per share, down from HKD 0.06 per share for the same period last year[90] - The total issued and fully paid ordinary shares as of June 30, 2020, were 505,297,418 shares, unchanged from the previous period[81] - As of June 30, 2020, the major shareholders include Luks Family (PTC) Limited with 53.99% and Lu Yi with 54.66% of the issued share capital[102] Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and transparency[48] - The audit committee consists of three independent non-executive directors, who reviewed the accounting principles and policies adopted by the company[109] - The company confirmed that all directors complied with the standard code of conduct for securities trading during the interim reporting period[108] - The company believes that having the same person serve as both Chairman and CEO enhances decision-making efficiency and helps seize business opportunities more promptly[107] Other Financial Metrics - Interest income for the period was HKD 3,298,000, slightly down from HKD 3,362,000 in the previous year[65] - The cost of goods sold for the period was HKD 173,048,000, a decrease from HKD 195,726,000 in the prior year[67] - The group’s financing costs decreased to HKD 831,000 from HKD 1,301,000 in the previous year[66] - Revenue from property management and related services increased slightly to HKD 17,772,000 from HKD 17,589,000 in the prior year[59] - The group did not generate taxable profits in Hong Kong for the current period, consistent with the previous year[70] - The group recorded approximately HKD 10,545,000 in property, plant, and equipment purchases for the six months ended June 30, 2020, compared to HKD 9,010,000 for the same period in 2019, representing an increase of 17%[75] - The net accounts receivable as of June 30, 2020, amounted to HKD 52,869,000, an increase from HKD 32,630,000 as of December 31, 2019, reflecting a growth of 62%[77] - Accounts payable as of June 30, 2020, totaled HKD 23,205,000, compared to HKD 10,628,000 as of December 31, 2019, indicating a significant increase of 118%[80] - The group has capital commitments of HKD 3,603,000 as of June 30, 2020, down from HKD 7,372,000 as of December 31, 2019, showing a decrease of 51%[83] - Short-term employee benefits for management personnel were HKD 4,503,000 for the six months ended June 30, 2020, down from HKD 5,946,000 in the same period last year, a reduction of 24%[84] - The group has no significant contingent liabilities as of the reporting date[85]

Financial Performance - The group's revenue for the first half of 2020 was HKD 281,440,000, a decrease of approximately 14.9% compared to HKD 330,624,000 in the same period last year[7] - The cement business generated revenue of HKD 187,563,000, down about 14.5% year-on-year, while property investment revenue increased by approximately 5% to HKD 74,724,000[7] - The hotel business reported revenue of HKD 13,599,000, a significant decline of approximately 59.4% compared to the previous year[7] - The group recorded a profit attributable to shareholders of HKD 29,939,000, a decrease of about 46.9% from HKD 56,339,000 in the same period last year[8] - Revenue from cement sales decreased to HKD 187,563,000, down 14.5% from HKD 219,307,000 in the previous year[59] - Hotel operation revenue dropped significantly to HKD 13,599,000, a decline of 59.4% compared to HKD 33,520,000 in the prior year[59] - Total revenue from customer contracts amounted to HKD 224,488,000, a decrease of 19.0% from HKD 277,024,000 year-over-year[61] - The group reported a pre-tax profit of HKD 29,039,000, compared to HKD 56,208,000 in the same period last year, reflecting a decline of 48.3%[67] - Total tax expense for the period was HKD 12,715,000, down from HKD 15,146,000 in the previous year[71] - The cost of goods sold for the period was HKD 173,048,000, a decrease from HKD 195,726,000 in the previous year[67] Business Segments - Cement sales volume was 550,000 tons, down approximately 16.5% from 659,000 tons in the same period last year[11] - The after-tax profit from the cement business was HKD 5,314,000, a decrease of about 58.7% compared to HKD 12,879,000 in the previous year[11] - The hotel business experienced a significant impact from the COVID-19 pandemic, with a 90% decrease in visitors to Hong Kong in the first half of 2020 compared to the same period last year[17] - The average occupancy rate for the hotel business in the first six months of 2020 was 53.5%, down approximately 40% from 89.4% in the same period last year[18] - The hotel business recorded a loss of HKD 15,714,000 after depreciation in the first half of 2020, compared to a loss of HKD 4,933,000 in the same period last year[18] Economic Context - The Vietnamese GDP growth rate for the first half of 2020 was 1.81%, the lowest in 12 years, but still better than many other countries experiencing economic contraction[7] - The group anticipates continued pressure on business performance in the short term due to the ongoing global pandemic[6] Cash and Liquidity - The group’s cash, bank balances, and time deposits as of June 30, 2020, amounted to HKD 414,630,000, an increase from HKD 381,055,000 at the end of 2019[25] - The group’s total bank and other borrowings were HKD 12,500,000 as of June 30, 2020, down from HKD 16,250,000 at the end of 2019[25] - Operating cash flow for the six months ended June 30, 2020, was HKD 57,677,000, a decrease of 63.0% compared to HKD 155,938,000 in 2019[46] - Net cash inflow from operating activities was HKD 46,702,000, down from HKD 134,103,000, representing a decline of 65.1%[46] - Cash and cash equivalents rose to HKD 414,630,000, an increase of 8.83% from HKD 381,055,000 at the end of 2019[38] - The cash balance analysis showed cash and bank deposits of HKD 106,435,000, down from HKD 115,709,000, a decrease of 8.8%[46] - The company maintained a strong cash position with cash and cash equivalents at the beginning of the period at HKD 258,624,000[46] Assets and Liabilities - As of June 30, 2020, total non-current assets amounted to HKD 2,293,523,000, a decrease of 1.74% from HKD 2,334,397,000 as of December 31, 2019[38] - Current assets increased to HKD 555,301,000, up 12.43% from HKD 493,979,000 at the end of 2019[38] - Total liabilities increased to HKD 180,858,000, representing a rise of 14.59% compared to HKD 157,829,000 at the end of 2019[39] - The net asset value as of June 30, 2020, was HKD 2,425,603,000, slightly up from HKD 2,422,470,000 at the end of 2019[39] - The company’s current liabilities included accounts payable of HKD 23,205,000, which is a significant increase of 118.73% from HKD 10,628,000 at the end of 2019[38] - Non-current liabilities decreased to HKD 242,363,000, down 2.77% from HKD 248,077,000 at the end of 2019[39] - The company’s total assets less current liabilities stood at HKD 2,667,966,000, a slight decrease from HKD 2,670,547,000 at the end of 2019[39] Shareholder Information - The board declared an interim dividend of HKD 0.02 per share for shareholders[22] - The interim dividend declared is HKD 0.02 per share, down from HKD 0.06 per share for the same period last year[90] - The issued and fully paid share capital as of June 30, 2020, was HKD 5,053,000, unchanged from December 31, 2019[81] - As of June 30, 2020, the major shareholders include Luks Family (PTC) Limited holding 53.99% and Lu Yi holding 54.66% of the issued share capital[102] Management and Governance - The company believes that having the same person serve as both Chairman and CEO enhances decision-making efficiency[107] - The audit committee consists of three independent non-executive directors, ensuring oversight of accounting principles and internal controls[109] - All directors confirmed compliance with the standard code of conduct for securities trading during the interim reporting period[108]

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].