Financial Performance - The Group's revenue for the year ended December 31, 2024, was approximately HK$783.5 million, representing a 9.7% increase compared to HK$714.1 million in 2023[16] - The gross profit margin improved to approximately 31.5% for the year ended December 31, 2024, up from 27.3% in 2023[16] - Profit attributable to equity holders of the Company was HK$87.2 million, a 49.3% increase from HK$58.4 million in 2023[16] - Basic earnings per share increased to HK6.55 cents, compared to HK4.38 cents in 2023[16] - The Group achieved record-high sales during the year, reflecting the strength of its core business and strong product demand[18] - The Group achieved record-high sales of HK$783.5 million for the year ended December 31, 2024, representing a 9.7% increase from HK$714.1 million in 2023[43] - Profit attributable to equity holders of the Company increased by 49.3% to HK$87.2 million for the year ended December 31, 2024, compared to HK$58.4 million in 2023[43] Market and Demand Factors - The surge in demand was attributed to the Hong Kong Government's proactive housing policy and an unexpected flow of urgent orders[18] - The steady inflow of interest income also supported the overall performance of the Group[18] - The performance was bolstered by the Group's ability to respond swiftly and effectively to customer needs[18] - The Group's participation in supplying pipes and fittings to various government public housing and infrastructure projects significantly contributed to the sales growth[41] - New product launches enhanced the Group's product coverage, allowing it to meet diverse customer needs and strengthen market position[27] - The Group is cautiously optimistic about future growth in Hong Kong's construction industry, supported by government commitments to increase public housing supply[50] Cost and Expense Management - The Group's selling and distribution costs increased by 5.0% year-on-year from HK$24.0 million in 2023 to HK$25.2 million in 2024[47] - General and administrative expenses rose by approximately 13.6% from HK$109.2 million in 2023 to HK$124.1 million in 2024, primarily due to increased staff costs and depreciation[47] - Provision for impairment of financial assets increased significantly to HK$5.3 million in 2024 from HK$0.05 million in 2023, reflecting higher receivables risk[48] - Finance costs increased by about 4.5% to HK$7.0 million in 2024, mainly due to rising interest rates on bank borrowings[49] - Finance income rose by 19.2% from HK$13.0 million in 2023 to HK$15.5 million in 2024, resulting in net finance income of HK$8.5 million[49] Corporate Governance and Management - The Company has a strong management team with diverse backgrounds in finance, investment, and corporate governance, enhancing its strategic decision-making capabilities[72][77][82] - The Company has appointed independent non-executive directors to strengthen governance and oversight, ensuring compliance and accountability[80][81] - The management team holds advanced degrees in business administration, finance, and related fields, contributing to informed decision-making[75][79] - The Company emphasizes the importance of corporate governance and risk management through its audit and remuneration committees[77][82] - The Company has maintained compliance with the Corporate Governance Code throughout the year ended December 31, 2024[103] - The Board consists of seven Directors, including two executive Directors and five independent non-executive Directors, ensuring a balance of skills and experience[110] Board and Committee Activities - The Remuneration Committee consists of four members, including one executive Director and three independent non-executive Directors, chaired by Mr. Guan Zhiqiang[141] - The Remuneration Committee held three meetings in 2024 to review and discuss senior management remuneration proposals, with details provided in Note 8 of the consolidated financial statements[147] - The Nomination Committee held four meetings during 2024 to discuss the structure, size, and composition of the Board, including diversity considerations[160] - The Audit Committee held three meetings during 2024 to review the annual results of 2023 and the interim results of 2024, making recommendations to the Board for approval[167] Risk Management and Compliance - The Group has established a risk management system that is reviewed at least annually to identify, evaluate, and manage significant risks[184] - The Audit Committee conducted a review of the effectiveness of the Group's risk management and internal control systems for the year ended December 31, 2024, and found them to be effective and adequate[195] - The Company Secretary is responsible for ensuring compliance with Hong Kong listed companies' regulatory requirements and enhancing corporate governance standards[198] - The Company has implemented a policy on the disclosure of inside information to prevent breaches of statutory disclosure requirements[190] Future Outlook - The Company is focused on direct investment and mergers and acquisitions in sectors including construction materials, infrastructure, energy, technologies, media, and financial services[72] - The Company is committed to expanding its market presence and exploring new investment opportunities in various sectors[72][82] - The Company recognizes the importance of gender diversity at the Board level and will continue efforts to enhance female representation[154]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of HKD 783,502,000, representing a 10% increase from HKD 714,129,000 in 2023[4] - The profit attributable to equity holders of the company for the same period was HKD 87,220,000, a significant increase of 49% compared to HKD 58,390,000 in the previous year[4] - Basic earnings per share rose to HKD 6.55, up from HKD 4.38 in 2023[5] - The company's operating profit for the year was HKD 92,399,000, compared to HKD 62,605,000 in the prior year[5] - Revenue from construction materials trading, primarily pipes and fittings, for the year ended December 31, 2024, was HKD 783,502,000, an increase of 9.7% from HKD 714,129,000 in 2023[14] - Revenue from Hong Kong increased to HKD 725,054,000 in 2024 from HKD 637,052,000 in 2023, representing a growth of 13.8%[14] - Operating profit for 2024 was HKD 691,181,000, up from HKD 652,719,000 in 2023, reflecting a growth of 5.9%[16] - Basic earnings per share for 2024 were HKD 87,220,000, compared to HKD 58,390,000 in 2023, indicating an increase of 49.4%[19] - The company recorded revenue of approximately HKD 783,500,000 for the year, an increase of 9.7% compared to HKD 714,100,000 in the previous year[24] - Profit attributable to equity holders was HKD 87,200,000, representing a 49.3% increase from HKD 58,400,000 in the previous year[24] Assets and Liabilities - Total assets increased to HKD 1,036,836,000, up from HKD 950,129,000 in 2023[7] - The company's total equity rose to HKD 817,041,000, compared to HKD 729,781,000 in the previous year[8] - Current assets net increased to HKD 779,612,000 from HKD 620,198,000 in 2023[8] - Trade receivables increased to HKD 202,222,000 in 2024 from HKD 188,649,000 in 2023, a rise of 7.2%[21] - Trade payables rose to HKD 48,532,000 in 2024 from HKD 30,144,000 in 2023, an increase of 60.8%[23] - The provision for trade receivables increased to HKD 6,655,000 in 2024 from HKD 1,315,000 in 2023, a significant rise of 404.6%[22] - The company has a total borrowing of approximately HKD 50,500,000, down from HKD 62,200,000 in the previous year[31] Financial Income and Expenses - The company reported a net financial income of HKD 8,486,000, an increase from HKD 6,239,000 in the previous year[5] - The company reported a net financial income of HKD 8,486,000 in 2024, up from HKD 6,239,000 in 2023, a growth of 36.0%[17] - Financial income increased by 19.2% to HKD 15,500,000 from HKD 13,000,000 in the previous year, due to an increase in bank deposits[29] - Sales and distribution costs increased by 5.0% to HKD 25,200,000 from HKD 24,000,000 in the previous year[28] - General and administrative expenses rose by 13.6% to approximately HKD 124,100,000 from HKD 109,200,000 in the previous year[28] Corporate Governance and Compliance - The company has not adopted any new standards that are expected to have a significant impact on its financial statements for the current or future reporting periods[11] - The company did not recommend a final dividend for the year ended December 31, 2024, consistent with 2023[20] - The board is committed to maintaining high standards of corporate governance and has complied with the relevant rules as of December 31, 2024[39] - The audit committee, consisting of five independent non-executive directors, reviewed the annual accounts and confirmed consistency with the audited financial statements[40] - All directors confirmed full compliance with the standard code of conduct regarding securities trading for the year ending December 31, 2024[41] Future Outlook and Employee Information - The company remains optimistic about future opportunities due to government support for public housing and infrastructure projects[30] - The company employed 174 full-time staff, with employee benefit expenses totaling approximately HKD 88,600,000, up from HKD 75,900,000 in the previous year[36] - The company did not repurchase any shares during the year[38] - The annual performance announcement is available on the company's website and the Hong Kong Stock Exchange[42] - The company expresses gratitude to shareholders, customers, suppliers, and banks for their continued support[43] - The company launched several new products, enhancing its product coverage and meeting diverse customer needs[24]

中國管業集團有限公司 ( China Pipe Group Limited (於百慕達註冊成立之有限公司) (Incorporated in Bermuda with limited liability) 股份代號：00380 Stock code: 00380 2024 INTERIM REPORT 中期報告 C Contents 目錄 2 Corporate Information 公司資料 5 Unaudited Condensed Consolidated Income Statement 未經審核簡明綜合收益表 6 Unaudited Condensed Consolidated Statement of Comprehensive Income 未經審核簡明綜合全面收益表 7 Unaudited Condensed Consolidated Statement of Financial Position 未經審核簡明綜合財務狀況表 9 Unaudited Condensed Consolidated Statement of Changes in Equity 未經審核簡明綜合權益變動表 11 U ...

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 374,299,000, representing a 9.7% increase from HKD 341,260,000 in the same period of 2023[1] - Gross profit increased to HKD 113,677,000, up 21.1% from HKD 93,864,000 year-on-year[1] - Operating profit rose to HKD 40,994,000, a 19.5% increase compared to HKD 34,459,000 in the previous year[1] - Profit attributable to equity holders for the period was HKD 37,398,000, reflecting a 18.5% increase from HKD 31,646,000 in 2023[2] - Total revenue for the group reached HKD 374,299,000, a 9.7% increase from HKD 341,260,000 in the previous year[10] - Basic earnings per share increased to HKD 37,398,000, compared to HKD 31,646,000 in 2023, representing a growth of 18.0%[16] - Basic earnings per share for the six months ended June 30, 2024, were approximately HKD 2.81, up from HKD 2.38 in the same period of 2023[23] Assets and Equity - Total assets as of June 30, 2024, amounted to HKD 973,121,000, compared to HKD 950,129,000 at the end of 2023[3] - Current assets net amount was HKD 652,071,000, an increase from HKD 620,198,000 in the previous year[4] - Total equity increased to HKD 767,010,000 from HKD 729,781,000 at the end of 2023[4] - As of June 30, 2024, the company's cash and bank balances were approximately HKD 313,300,000, up from HKD 275,200,000 as of December 31, 2023[29] - The total borrowings amounted to approximately HKD 63,000,000, with an asset-to-equity ratio of about 8.2%[30] Financial Income - Financial income for the period was HKD 7,543,000, up from HKD 6,075,000 in the same period last year[1] - The company reported a net financial income of HKD 4,288,000, significantly higher than HKD 2,898,000 in the previous year[1] - Net financial income rose to HKD 4,288,000, up 48.0% from HKD 2,898,000 in the previous year[14] - Financial income increased by approximately 23.0% to HKD 7,500,000 due to rising interest income from bank deposits[26] Revenue Breakdown - Revenue from Hong Kong increased to HKD 351,710,000 for the six months ended June 30, 2024, up 17.5% from HKD 299,280,000 in 2023[10] - Macau revenue decreased to HKD 21,545,000, down 43.6% from HKD 38,167,000 in 2023[10] Challenges and Outlook - The company faced challenges in attracting and retaining skilled labor, as well as rising material costs impacting profit margins[24] - The company maintains a positive outlook for the construction materials business in Hong Kong, driven by significant infrastructure projects[27] Dividends - The company did not declare an interim dividend for the six months ended June 30, 2024[17] - The company did not declare an interim dividend for the six months ended June 30, 2024[35] Compliance and Review - The company has adopted the standard code outlined in Appendix C3 of the listing rules, confirming compliance by all directors for the six-month period ending June 30, 2024[39] - The interim financial data for the six months ending June 30, 2024, has not been audited or reviewed by the company's auditor, but has been reviewed by the audit committee[40] - The mid-term performance announcement is available on the company's website and the Hong Kong Stock Exchange website[42] Product Development - The company successfully launched new products, expanding its product coverage and receiving positive customer feedback[24]

Financial Performance - The Group's revenue for the year ended December 31, 2023, was approximately HK$714.1 million, representing a 12.2% increase from HK$636.5 million in 2022[11]. - The profit attributable to equity shareholders increased by approximately 18.7% to HK$58.4 million, compared to HK$49.2 million in 2022[11]. - The gross profit margin for the year was approximately 27.3%, slightly down from 27.5% in 2022[11]. - The basic earnings per share rose to HK4.38 cents, up from HK3.69 cents in the previous year[11]. - Other gains, net decreased to approximately HK$1.2 million in 2023 from HK$4.1 million in 2022, a decline of HK$2.9 million[48]. - Selling and distribution costs increased by 21.8% year-on-year, rising from HK$19.7 million in 2022 to HK$24.0 million in 2023[49]. - General and administrative expenses amounted to approximately HK$109.2 million in 2023, an increase of about 7.7% from HK$101.4 million in 2022[49]. - Finance costs increased by approximately 13.6% to HK$6.7 million in 2023, primarily due to rising interest rates on bank borrowings[53]. - Finance income surged by 103.1% to HK$13.0 million in 2023, compared to HK$6.4 million in 2022, resulting in net finance income of HK$6.2 million[53]. - The Group's cash and bank balances were approximately HK$275.2 million as of December 31, 2023, up from HK$252.5 million in 2022[56]. - Total borrowings stood at approximately HK$62.2 million as of December 31, 2023, compared to HK$53.4 million in 2022, with all borrowings maturing within one year[57]. - The gearing ratio was approximately 8.5% as of December 31, 2023, compared to 7.9% in 2022[58]. Market and Operational Developments - The company has launched several new products, including the OPAL copper hose and a full range of valves, enhancing its competitiveness in the market[20]. - A new enterprise resource planning system has been implemented to optimize internal processes and improve operational efficiency[19]. - The company has re-opened a new store in Tsuen Wan to expand market coverage and better serve customers[22]. - Increased bank interest income contributed positively to the overall financial performance due to rising saving interest rates[13]. - The Group is optimistic about the construction industry's outlook in Hong Kong due to ongoing government investments in housing and infrastructure projects[24]. - The Group's proactive approach and strong foundation are expected to help navigate challenges such as labor shortages and rising prices[26]. - The use of Modular Integrated Construction (MiC) and Multi-trade Integrated MEP (MiMEP) has gained popularity, allowing the Group to capitalize on increased demand for pipes and fittings[42]. Corporate Governance and Management - The Company maintains a high standard of corporate governance, complying with the Corporate Governance Code throughout the year ended December 31, 2023[108]. - The Group emphasizes a healthy corporate culture for sustainable growth, focusing on integrity and accountability in business practices[109]. - The Company has implemented a whistle-blowing policy and anti-corruption policy to foster a culture of openness and integrity[109]. - All Directors confirmed compliance with the Model Code for Securities Transactions during the year ended December 31, 2023[110]. - The Company has a strong management team with members holding advanced degrees in business administration and finance from reputable institutions[78][80][84]. - The Board comprises six Directors, including two executive Directors and four independent non-executive Directors, ensuring a balance of skills and experience[115]. - The Company has established various committees, including audit, remuneration, and nomination committees, to enhance its functions and expertise[148]. - The roles of the Chairman and Chief Executive Officer are held by separate individuals to reinforce independence and accountability[133]. - The Board is responsible for supervising business management, approving strategic plans, and reviewing financial performance[119]. - The Company has mechanisms in place to ensure independent views and input are available to the Board, reviewed annually[123]. Risk Management and Compliance - The Group has established a risk management system that is reviewed at least annually to identify, evaluate, and manage significant risks[189]. - The Board is responsible for maintaining an adequate system of risk management and internal controls, ensuring effective operations and safeguarding assets[188]. - The Company has adequate resources to continue operational existence for the foreseeable future, adopting the going concern basis in preparing financial statements[187]. - The Audit Committee reviewed the adequacy of resources, qualifications, and experience of the Group's accounting and financial reporting staff[174]. - The Company has a policy on the disclosure of inside information to prevent breaches of statutory disclosure requirements[196]. - The dissemination of inside information is conducted by publishing relevant information on the Stock Exchange's website and the Company's website[197]. - The company has adopted an insider information disclosure policy to ensure compliance with statutory disclosure requirements[198]. - Access to insider information is restricted to a limited number of employees on a need-to-know basis[200]. - Confidentiality agreements are ensured during significant negotiations to protect sensitive information[200]. - The company must disclose insider information as soon as reasonably practicable if confidentiality has been lost[200]. Board Diversity and Composition - The company aims to appoint at least one female director by December 31, 2024, with current board composition being 100% male[161]. - The Nomination Committee reviews the Board's structure, size, and composition at least annually, considering diversity aspects such as gender, age, and professional experience[166]. - The Board recognizes the importance of gender diversity and is committed to increasing female representation among its members[161]. - The company has adopted a Board Diversity Policy to enhance diversity at the Board level, which is essential for achieving strategic objectives[160]. - The Nomination Policy allows for consideration of candidates recommended by shareholders, ensuring a merit-based selection process[162].

Financial Performance - For the year ended December 31, 2023, the company reported revenue of HKD 714,129,000, representing a 12% increase from HKD 636,535,000 in 2022[4] - The profit attributable to equity holders for the same period was HKD 58,390,000, a 19% increase compared to HKD 49,218,000 in 2022[4] - Basic earnings per share rose to HKD 4.38 from HKD 3.69 in the previous year[5] - The company's operating profit for the year was HKD 62,605,000, up from HKD 57,783,000 in 2022[5] - The net profit attributable to equity holders for 2023 was HKD 58,390,000, representing a 18.6% increase from HKD 49,218,000 in 2022[25] - Profit attributable to equity holders increased by approximately 18.7% to HKD 58,400,000, up from HKD 49,200,000 in the same period last year[33] Revenue Breakdown - Revenue from construction materials trading, primarily pipes and fittings, for the year ended December 31, 2023, was HKD 714,129,000, an increase of 12.2% from HKD 636,535,000 in 2022[18] - Revenue from Hong Kong increased to HKD 637,052,000 in 2023, up 12.5% from HKD 565,702,000 in 2022[18] - The company recorded a revenue of approximately HKD 714,100,000 for the year, an increase of 12.2% compared to HKD 636,500,000 in the previous year[33] Assets and Liabilities - Total assets increased to HKD 950,129,000 in 2023, compared to HKD 902,372,000 in 2022[9] - Total equity rose to HKD 729,781,000, up from HKD 671,671,000 in the previous year[11] - The company’s total liabilities decreased to HKD 220,348,000 from HKD 230,701,000 in 2022[11] - Trade receivables increased to HKD 188,649,000 in 2023, compared to HKD 152,744,000 in 2022, marking a growth of 23.5%[28] Financial Income and Expenses - The company reported a net financial income of HKD 6,239,000, significantly up from HKD 459,000 in 2022[5] - The total tax expense for 2023 was HKD 10,454,000, an increase from HKD 9,024,000 in 2022[23] - The cost of goods sold for 2023 was HKD 512,443,000, compared to HKD 449,904,000 in 2022, indicating an increase of 13.9%[21] - Total operating expenses for 2023 were HKD 652,719,000, up from HKD 582,816,000 in 2022, reflecting an increase of 11.9%[21] - The company’s sales and distribution costs increased by 21.8% to HKD 24,000,000, primarily due to higher promotional expenses and transportation costs[38] - Financial income rose by 103.1% to HKD 13,000,000, driven by increased bank deposit interest rates[38] Inventory and Cash Management - The company’s inventory decreased to HKD 217,326,000 from HKD 243,703,000 in 2022[9] - The company’s cash and bank balances increased to HKD 228,138,000 from HKD 206,487,000 in the previous year[9] - The company’s cash and bank balances amounted to approximately HKD 275,200,000, an increase from HKD 252,500,000 in the previous year[41] Corporate Governance and Compliance - The company confirmed full compliance with the corporate governance code as per the Hong Kong Stock Exchange listing rules for the year ending December 31, 2023[49] - All directors confirmed compliance with the standard code regarding securities transactions for the year ending December 31, 2023[51] - The audit committee, composed of four independent non-executive directors, reviewed the annual accounts, and the figures in the preliminary announcement were consistent with the audited financial statements[50] Employee and Operational Updates - As of December 31, 2023, the group employed 164 full-time employees, an increase from 155 in 2022, with total employee benefit expenses amounting to approximately HKD 75,900,000, up from HKD 65,700,000 in 2022[46] - The company opened a new store in Tsuen Wan to expand market coverage and improve customer service[34] - The company successfully launched several new products, including OPAL copper pipes and a full range of valves, enhancing its market competitiveness[33] Dividends and Shareholder Relations - The company did not recommend a final dividend for the year ended December 31, 2023, consistent with 2022[26] - The board of directors did not recommend the distribution of a final dividend for the year ending December 31, 2023, consistent with the previous year[47] - The company did not repurchase any shares during the year, nor did it buy or sell any shares of the company or its subsidiaries[48] - The company expressed gratitude to shareholders, customers, suppliers, and banks for their continued support and trust[53] Other Income - Other income decreased to approximately HKD 1,200,000 from HKD 4,100,000 in the previous year, primarily due to the absence of government pandemic relief funding[37] Market Outlook - The company anticipates continued growth in the Hong Kong construction industry due to ongoing government investments in housing and infrastructure projects[40]

Revenue and Profitability - Revenue for the six months ended June 30, 2023, increased to HK$341,260,000, up from HK$322,004,000 in the same period of 2022, representing a growth of 5.6%[12] - Profit for the period attributable to equity holders was HK$31,646,000, compared to HK$32,063,000 in 2022, a decrease of 1.3%[12] - Basic and diluted earnings per share for the period were HK$2.38, down from HK$2.41 in the previous year, a decline of 1.2%[12] - Total comprehensive income for the period attributable to equity holders was HK$31,372,000, slightly down from HK$31,661,000, a decrease of 0.9%[14] - The Group reported a profit for the period of HK$31,646,000 for the six months ended June 30, 2023, compared to HK$32,063,000 for the same period in 2022, showing a slight decrease of about 1.3%[27] Financial Performance - Gross profit for the same period was HK$93,864,000, slightly down from HK$95,214,000, indicating a decrease of 1.4%[12] - Operating profit decreased to HK$34,459,000 from HK$39,385,000, reflecting a decline of 12.3%[12] - Cash generated from operations decreased to HK$18,322,000 in H1 2023 from HK$62,581,000 in H1 2022, representing a decline of 70.7%[31] - Net cash generated from operating activities fell to HK$15,519,000 in H1 2023 compared to HK$61,905,000 in H1 2022, a decrease of 74.9%[31] - The cost of inventories sold for the six months ended June 30, 2023, was HK$245,847,000, an increase of 11.6% compared to HK$220,392,000 in 2022[69] Assets and Liabilities - Total assets as of June 30, 2023, increased to HK$951,364,000, up from HK$902,372,000 as of December 31, 2022, representing a growth of approximately 5.4%[19] - Total liabilities rose to HK$248,321,000 from HK$230,701,000, reflecting an increase of approximately 7.6%[21] - Current assets rose to HK$775,259,000, compared to HK$714,434,000 at the end of 2022, indicating an increase of about 8.5%[19] - Total equity reached HK$703,043,000 as of June 30, 2023, up from HK$671,671,000 at the end of 2022, reflecting a growth of approximately 4.7%[21] - Trade receivables increased to HK$182,467,000 as of June 30, 2023, from HK$151,481,000 at the end of 2022, marking a rise of approximately 20.4%[19] Cash Flow and Financing - Net cash used in financing activities improved to HK$4,368,000 in H1 2023 from HK$19,276,000 in H1 2022, a reduction of 77.3%[31] - Drawdown of borrowings increased to HK$209,703,000 in H1 2023 from HK$183,978,000 in H1 2022, an increase of 13.9%[31] - The Group's total borrowings stood at approximately HK$60.3 million as of June 30, 2023, compared to HK$53.4 million at the end of 2022[183] - The gearing ratio was approximately 8.6% as of June 30, 2023, up from 7.9% at the end of 2022[187] - Cash and cash equivalents at the end of the period increased to HK$217,239,000 in H1 2023 from HK$209,342,000 in H1 2022, an increase of 3.3%[31] Employee and Operational Costs - Employee benefit expenses rose to HK$34,554,000, reflecting an increase of 14.9% from HK$30,077,000 in the previous year[69] - General and administrative expenses rose by 4.1% to HK$50.6 million, mainly driven by an increase in staff costs of about HK$4.6 million[174] - The Group's salaries and other short-term employee benefits increased to HK$9,921,000 for the six months ended June 30, 2023, compared to HK$8,874,000 for the same period in 2022, an increase of 11.8%[121] Market and Business Outlook - The Group's primary business remains focused on trading construction materials, specifically pipes and fittings, with operations mainly in Hong Kong and Macau[56] - The ongoing investment by the Hong Kong government in housing and infrastructure projects is expected to provide further opportunities for the Group[168] - The Group is optimistic about the construction industry outlook in Hong Kong, anticipating growth driven by public housing and hospital development projects[180] - Challenges such as labor shortages and rising prices have impacted the Group's gross profit margin, leading to a slight decrease in net profit compared to the previous year[169] Financial Risk Management - The Group's financial risk management objectives and policies remain consistent with those disclosed in the audited consolidated annual financial statements for the year ended December 31, 2022[49] - The Group has not early adopted any amendments to standards that have been issued but are not yet effective, and is currently assessing their impact[48] - The adoption of new accounting standards effective from January 1, 2023, did not have a material impact on the Group's results of operations or financial position[47]

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公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份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。 (於百慕達註冊成立之有限公司) (股份代號: 00380) 截至二零二三年六月三十日止六個月 中期業績公告 中國管業集團有限公司（「本公司」）董事會（「董事會」）宣佈本公司及其附屬公司（「本 集團」）截至二零二三年六月三十日止六個月的未經審核簡明綜合中期業績連同二零二二 年同期的比較數字如下： 未經審核簡明綜合收益表 截至二零二三年六月三十日止六個月 未經審核 截至六月三十日止六個月 二零二三年 二零二二年 附註 千港元 千港元 收入 2 341,260 322,004 銷售成本 4 (247,396) (226,790) 毛利 93,864 95,214 其他收益淨額 3 1,991 2,217 銷售及分銷成本 4 (10,881) (9,468) 一般及行政費用 4 (50,576) (48,578) ...

Financial Performance - The Group's revenue for the year ended December 31, 2022, was approximately HK$636.5 million, a decrease of 6.7% compared to HK$682.2 million in 2021[12]. - The gross profit margin for the year was approximately 27.5%, down from a restated 28.7% in 2021[12]. - Profit attributable to equity shareholders was HK$49.2 million, representing a decrease of approximately 12.8% from HK$56.4 million in 2021[12]. - Basic earnings per share for the year were HK3.69 cents, compared to HK4.23 cents in 2021[12]. - The decrease in revenue was primarily due to the closure of a retail shop in Tsuen Wan in November 2021 and reduced contributions from a large project at Hong Kong International Airport[21]. - Other gains increased by HK$2.0 million to HK$4.1 million in 2022, primarily due to subsidies from the Hong Kong Government's Anti-epidemic Fund[47]. - Selling and distribution costs decreased by 8.8% to HK$19.7 million in 2022, down from HK$21.6 million in 2021[48]. - General and administrative expenses amounted to approximately HK$101.4 million in 2022, a decrease of 6.6% from HK$108.6 million in 2021[48]. - Finance costs increased by 1.7% to HK$5.9 million in 2022, compared to HK$5.8 million in 2021, mainly due to rising interest rates[49]. - Finance income rose by 39.1% to HK$6.4 million in 2022, up from HK$4.6 million in 2021, driven by higher bank deposit interest rates[49]. Market Demand and Business Development - The demand for pipes and fittings returned to normal levels in the second half of 2022 following the completion of isolation facilities[21]. - The strong demand for pipes and fittings in the first half of 2022 was driven by the urgent need for community isolation facilities[15]. - The Group continued to develop its core business of trading pipes and fittings throughout the year[14]. - The Hong Kong Government plans to build 30,000 "Light Public Housing" units over the next five years, which is expected to stimulate demand for construction materials[27]. - The relaxation of COVID-19 restrictions in Hong Kong is anticipated to enhance business activities with suppliers in mainland China[23]. - The Group is actively exploring opportunities in Modular Integrated Construction (MiC) and Multi-trade Integrated MEP (MiMEP) to capture more orders[43]. - The Group's focus remains on supplying pipes and fittings, with successful procurement of large project orders during the year[42]. - The construction industry outlook in Hong Kong is cautiously optimistic due to government initiatives and rising demand for public housing[27]. Corporate Governance - The Company has maintained compliance with the Corporate Governance Code throughout the year ended December 31, 2022[106]. - The Board consists of six Directors, including two executive Directors and four independent non-executive Directors, ensuring at least one-third of the Board is independent[113][114]. - The Company aims to formalize best practices in corporate governance to benefit shareholders and investors[105]. - The Board is responsible for approving strategic plans, investment decisions, and reviewing the Group's financial performance[117]. - All independent non-executive Directors have confirmed their independence according to the Listing Rules[115]. - The Company has established mechanisms to ensure independent views and input are available to the Board, which will be reviewed annually[121]. - The Board met regularly, holding a total of nine meetings during the year, with all Directors receiving timely information to fulfill their duties[138]. - The Company has arranged appropriate insurance cover for potential legal actions against its Directors and officers[136]. - The Board has a balance of skills, knowledge, and experience appropriate for the business requirements and corporate strategy[121]. Management and Employee Matters - The Group employed a total of 155 employees as of December 31, 2022, with total employee benefit expenses of approximately HK$65.7 million, down from HK$73.1 million in 2021[66]. - The group has a stock option plan to reward eligible directors and employees for their contributions[69]. - The group is committed to contributing to a retirement benefits plan established by the Chinese government for its employees in mainland China[69]. - The group has a remuneration policy that is reviewed annually, with some employees receiving sales commission income[69]. - The Company emphasizes meritocracy in Board appointments, ensuring candidates are evaluated against objective criteria[157]. Risk Management and Internal Control - The Group has established a risk management system that is reviewed at least annually to identify, evaluate, and manage significant risks[187]. - The Audit Committee conducted a review of the effectiveness of the Group's risk management and internal control systems for the year ended December 31, 2022, and found them to be effective and adequate[193]. - The independent professional advisor reported their review work for the year ended December 31, 2022, in accordance with a detailed risk-based internal control review plan approved by the Audit Committee[197]. - The Company aims to ensure effective risk management and internal control systems through discussions with management[169]. - The risk management report and internal control report are submitted to the Audit Committee at least once a year[189]. Board Committees and Meetings - The Company held three Audit Committee meetings, two Nomination Committee meetings, and two Remuneration Committee meetings in 2022[143]. - The Remuneration Committee comprises four members, including one executive Director and three independent non-executive Directors, with the committee chaired by Mr. Guan Zhiqiang[146]. - The Nomination Committee also consists of four members, including one executive Director and three independent non-executive Directors, chaired by Mr. Lai Fulin[152]. - The Audit Committee consists of four independent non-executive Directors, ensuring a diverse skill set and expertise in financial management[165]. - The Company encourages open discussions among Directors during meetings to ensure diverse perspectives are considered[121].

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公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份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。 (於百慕達註冊成立之有限公司) (股 份代號: 00380) 截至二零二二年十二月三十一日止年度 全年業績公告 財務摘要 經重列 二零二二年 二零二一年 變動 千港元 千港元 百分比 持續營運業務之收入 636,535 682,187 (7%) 持續營運業務之年度溢利 49,218 55,967 (12%) 本公司權益持有人應佔持續營運與 終止營運業務之溢利 49,218 56,424 (13%) 每股基本盈利 3.69 港仙 4.23港仙 ...