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。 截至2023年3月31日止年度之全年業績 財務摘要 2023年 千港元 總營業額 8,177,748 本公司股東應佔溢利 105,091 每股基本盈利 5.88港仙 每股股息 －中期 0.67港仙 －末期 1.05港仙 ...

Financial Performance - The company reported a financial summary for the six months ended September 30, 2022, with a total revenue of HK$XXX million, representing a YY% increase compared to the previous period[13]. - Total revenue for the period was approximately HK$4.16 billion, an increase of 8.8% from HK$3.82 billion in 2021[17]. - Revenue for the six months ended September 30, 2022, was HK$4,158,751, an increase of 8.9% from HK$3,819,920 in the same period of 2021[69]. - Gross profit for the same period was HK$268,211, a decrease of 8.0% compared to HK$291,729 in 2021[69]. - Profit for the period attributable to shareholders was HK$40,410, down 28.0% from HK$56,134 in the previous year[71]. - Total comprehensive income for the period attributable to shareholders was HK$9,759, a significant decrease of 84.6% from HK$63,323 in 2021[71]. - Basic and diluted earnings per share attributable to shareholders decreased to 2.26 HK cents from 3.11 HK cents, representing a decline of 27.4%[71]. - The company reported a profit before tax of HK$54,736, a decrease of 7.2% from HK$58,846 in the previous year[69]. - The Group's profit before tax for the period was impacted by unallocated corporate expenses and finance costs, with a net profit for the period reported[111]. Operational Highlights - User data indicated a growth in customer base, with an increase of ZZ% year-over-year, reflecting the company's expanding market presence[13]. - The construction segment recorded revenue of HK$3.65 billion, up from HK$3.33 billion in 2021, with a segment profit of HK$99.0 million, down from HK$109.6 million[20]. - The Group secured 15 new contracts during the review period, including projects for a primary school and a kindergarten[21]. - The Group is currently engaged in a total of 70 ongoing projects, including significant urban renewal and housing development initiatives[25]. - The professional services segment achieved revenue of HK$489.4 million, up from HK$471.4 million in 2021, but segmental profit decreased to HK$23.0 million from HK$27.4 million[33]. - The property development and assets leasing segment rebounded during the Review Period, with ongoing sales activities at "128 Waterloo" and "SOYO" despite tough market conditions[33]. Strategic Initiatives - The company provided a positive outlook for the upcoming fiscal year, projecting a revenue growth of AA% driven by new projects and market expansion initiatives[13]. - Investment in new product development and technology is expected to increase by BB%, focusing on sustainable infrastructure solutions[13]. - The company is exploring strategic acquisitions to enhance its service offerings and market reach, with potential targets identified in the Asia-Pacific region[13]. - The board emphasized the importance of innovation, with a dedicated budget of GG million allocated for R&D in the next fiscal year[13]. - The Group is investing in advanced construction technologies such as Modular Integrated Construction (MiC) to maintain a competitive edge[27]. - The Group aims to leverage its status as a leader in Modular Integrated Construction (MiC) to capture opportunities arising from the government's promotion of advanced construction technologies[44]. Financial Position - As of September 30, 2022, the total net debts of the Group amounted to approximately HK$1,885.5 million, with total debts of approximately HK$2,992.8 million and cash and bank balances of approximately HK$1,107.3 million[38][39]. - The gearing ratio of the Group as of September 30, 2022 was 0.80, compared to 0.71 on March 31, 2022, indicating an increase in the proportion of net interest-bearing debts to equity attributable to shareholders[40]. - The financial position of the Group remained stable, relying on internally generated funds and bank borrowings for operations and expansion[37]. - The total current liabilities increased to HK$5,299,637,000 as of September 30, 2022, from HK$5,219,733,000 as of March 31, 2022, marking an increase of about 1.53%[77]. Market Conditions - The Hong Kong government has proposed policies to promote economic development, which may provide new opportunities for the construction industry[19]. - The Hong Kong government's focus on increasing land and housing supply is expected to create new opportunities for the construction industry, including various large-scale urban development projects[43][44]. - The property market in Hong Kong continues to face challenges due to interest rate hikes, but the government is implementing policies to encourage buyers and improve market sentiment[45]. - The Group maintains a cautious outlook for the construction segment due to macroeconomic uncertainties and rising costs, focusing on improving cash flow by increasing project completion certification rates[47]. Corporate Social Responsibility - A commitment to corporate social responsibility was reiterated, with plans to allocate CC% of profits towards ESG initiatives[13]. - The company engaged in community support activities, including delivering meal boxes to approximately 100 individuals from low-income families[66]. - The Group is dedicated to corporate social responsibility, engaging in community activities and collaborating with charitable organizations in Hong Kong[64]. - The Group is committed to environmental protection, implementing carbon audits and signing the "BEC Low Carbon Charter" to align with the Paris Agreement goals[64]. Employee and Workforce - The Group had approximately 6,600 employees as of September 30, 2022, with total employee remuneration for the review period amounting to approximately HK$892.5 million[40]. - Approximately 6,600 employees were reported as of September 30, 2022, with a strong emphasis on workplace wellness and employee development[54].

Financial Performance - The company reported a significant increase in revenue, achieving a total of HK$1.2 billion, representing a growth of 15% year-on-year[1]. - Total revenue for the year reached HK$ 7,722,064,000[35]. - Profit attributable to shareholders was HK$ 121,999,000[35]. - The Group's total revenue for the year was approximately HK$7.72 billion, an increase from HK$7.53 billion in 2021[82]. - Net profit attributable to shareholders was approximately HK$122.0 million, compared to a net loss of HK$184.5 million in 2021[82]. - The property development and assets leasing segment reported a profit of HK$185.8 million, a significant recovery from a loss of HK$272.0 million in the previous year[134]. - The professional services segment recorded revenue of HK$963.8 million, a slight increase from HK$952.2 million in the previous year, while profit decreased to HK$53.7 million from HK$157.0 million[142][146]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue increase of 10% to HK$1.32 billion[1]. - The Group remains positive about future prospects, anticipating recovery as the Covid-19 pandemic subsides[76]. - Management is optimistic about the gradual recovery of the Hong Kong economy in 2022, focusing on core business development and sustainable opportunities[184]. Strategic Initiatives - New product development initiatives include the launch of a sustainable infrastructure solution, expected to contribute an additional HK$100 million in revenue[1]. - The company is expanding its market presence in Southeast Asia, targeting a 20% increase in market share by entering three new countries[1]. - A strategic acquisition of a local construction firm was completed, valued at HK$200 million, aimed at enhancing operational capabilities[1]. - The management team highlighted a focus on digital transformation, with a budget allocation of HK$50 million for technology upgrades[1]. - The Group is focusing on developing advanced construction technologies, such as MiC technology, to support large-scale infrastructure projects in Hong Kong[76]. Corporate Social Responsibility and Sustainability - The company emphasized its commitment to ESG principles, with 30% of new projects incorporating sustainable practices[1]. - The Board emphasizes the importance of corporate social responsibility (CSR) and integrates ESG objectives into company strategies[191]. - The Group has engaged an independent carbon auditor to enhance the credibility of its sustainability data[199]. - Various international management systems, including ISO 14001:2015 and ISO 45001:2018, have been implemented to improve sustainability performance[199]. - The Group encourages employees to participate in recycling and "Green" initiatives to promote proper ESG behaviors[199]. Workforce and Employment - The company plans to increase its workforce by 15% to support growth initiatives, adding approximately 150 new positions[1]. - The Group had approximately 6,150 employees, with total employee remuneration for the year reaching approximately HK$1,786.0 million[167][172]. Project Engagement and Performance - User data showed an increase in active projects, with a total of 25 ongoing projects, up from 20 in the previous year, indicating a 25% growth in project engagement[1]. - The Group secured 30 new projects during the year, including significant contracts utilizing advanced construction technologies[85]. - The Group is currently engaged in 70 ongoing projects, including major infrastructure works and public housing developments[89]. Challenges and Market Conditions - The construction segment's performance was impacted by project approval delays and increased raw material costs, leading to a slight downturn in operating performance for the year[69]. - The company faced challenges due to supply chain disruptions caused by the COVID-19 pandemic, leading to material shortages and project delays[93]. - Government policies, including waivers for construction delays and compensation for raw material price differences, helped mitigate the impact of challenging business conditions[72]. Government and Infrastructure Investment - The government approved a record high funding of HK$220 billion for capital works projects, creating significant opportunities for the construction industry[174][177]. - The government has set aside 350 hectares of land for the construction of approximately 333,000 public housing units, with an expected average of 19,000 private residential units to be completed annually over the next five years[175][178]. - The Hong Kong government continues to invest in infrastructure projects, which is expected to benefit the construction industry moving forward[83].

Financial Performance - Profit attributable to shareholders reached HK$56,134,000, reflecting a strong performance in the interim period[40] - Total revenue for the company was HK$3,819,920,000, indicating robust business activity[40] - Basic earnings per share were reported at HK3.11 cents, showcasing profitability per share[40] - The Group recorded total revenue of approximately HK$3.82 billion for the Review Period, a slight decrease from HK$3.83 billion in 2020, with a net profit attributable to shareholders of approximately HK$56.1 million, down from HK$56.3 million in 2020[42][45] - Revenue for the six months ended September 30, 2021, was HK$3,819,920, a slight decrease of 0.4% compared to HK$3,833,408 in the same period of 2020[128] - Profit for the period was HK$50,088, down 20.6% from HK$62,971 in the prior year[130] - Total comprehensive income for the period attributable to shareholders was HK$63,323, a decrease of 25.0% from HK$84,178 in the same period last year[130] - The company reported a profit for the period of HK$27,907,000, contributing to total comprehensive income of HK$90,878,000[136] - For the six months ended September 30, 2021, the company reported a profit of HK$56,134,000, compared to a profit of HK$50,088,000 for the same period in the previous year, representing an increase of approximately 12.3%[138] Revenue Breakdown - The construction segment achieved revenue of HK$3.33 billion, compared to HK$3.35 billion in 2020, with a significant increase in segmental profit to HK$109.6 million from HK$23.7 million in the previous year[43][46] - The professional services segment generated revenue of HK$471.4 million, down from HK$485.7 million in 2020, with segmental profit decreasing to HK$27.4 million from HK$82.6 million[58] - Total segment revenue for the six months ended September 30, 2021, was HK$3,826,310,000, with external sales contributing HK$3,819,920,000[165] - Construction services generated revenue of HK$3,330,601,000, while professional services and non-franchised bus services contributed HK$471,405,000 and HK$17,914,000 respectively[165] - Revenue from contracts with customers for the six months ended 30 September 2021 was HK$3,819,920, a slight decrease of 0.3% from HK$3,832,474 in the same period of 2020[176] Asset and Liability Management - Total assets amounted to HK$8,579,017,000, demonstrating the company's strong asset base[40] - Net assets were reported at HK$2,396,468,000, reflecting the company's financial health[40] - As of September 30, 2021, the Group's total net debts amounted to approximately HK$1,732.0 million, with total debts of approximately HK$2,945.6 million[73] - The Group's gearing ratio was 0.74 as of September 30, 2021, consistent with the ratio from March 31, 2021[77] - Current liabilities decreased from HK$6,164,386,000 to HK$4,229,967,000, a reduction of approximately 31.4%[134] - Net current assets increased significantly from HK$1,082,225,000 to HK$3,019,244,000, representing an increase of about 179.5%[134] - Non-current liabilities increased from HK$64,865,000 to HK$1,952,582,000, a substantial rise of about 2905.5%[134] Strategic Initiatives - The Group is focusing on the Hong Kong property market and plans to engage in joint ventures with reputable partners to optimize returns[57] - The Group will continue to review and adjust its property portfolio to enhance investment returns in the current business climate[57] - The Group plans to develop projects through joint ventures to enhance synergies and mitigate risks in property development[93] - The Group remains optimistic about the construction industry due to favorable government policies, including expedited public housing development and new railway infrastructure projects[92] - The Group will continue to explore opportunities in professional services and the tunnel management business to diversify income streams[94] Operational Highlights - The Group secured 19 new projects during the Review Period, leveraging its "Modular Integrated Construction" technology[44][46] - The Group is currently engaged in 69 ongoing construction projects, including significant works for the Hong Kong Polytechnic University and the Hong Kong Disneyland Resort[48][52] - The Group managed six tunnels in Hong Kong, contributing a stable revenue source and plans to explore further market expansion opportunities[63] - The construction financing business and online building materials procurement platform showed good progress during the review period, with management focusing on developing these areas[70] Employee and Community Engagement - The total employee remuneration for the review period amounted to approximately HK$855.4 million, with around 6,500 employees[86] - The Group encourages staff participation in community activities, such as delivering care packages to low-income families, to foster good relationships within the community[123] - The Group recognizes the importance of work-life balance and organizes various activities for employees and their families[110] - The Group provides extensive training programs for staff at all levels to maximize their potential and enhance their skills[109] Environmental Commitment - The Group has signed the "BEC Low Carbon Charter" to set decarbonization targets aligned with the goals of the "Paris Agreement," demonstrating its commitment to environmental protection[118] - The Group is implementing carbon audits and establishing carbon emission benchmarks to promote responsible and sustainable operations in its construction business[117] Challenges and Market Conditions - The Group's property development segment faced challenges due to the Covid-19 pandemic, impacting sales of premium properties[55][56] - The property development and leasing segment experienced a decline in performance compared to the same period last year due to the impact of the COVID-19 pandemic and a challenging macroeconomic environment[60] - The Group received government subsidies under the Employment Support Scheme amounting to HK$139,242,000 in the previous year, which were not received in the current period[194]

Corporate Strategy and Growth - The company aims to enhance people's quality of life through city and infrastructure development [3] - The company reported a commitment to create value for shareholders with dynamic and sustainable growth [5] - The company aims to be a leading contractor and developer in Asia, reinforcing its market position [5] - The Group plans to expand its presence in the healthcare, education, transportation, and renewable energy sectors in Hong Kong and the Greater Bay Area [69] - The Group is committed to diversifying operations and expanding income streams through nurturing existing businesses and exploring new opportunities [193] - The Group aims to diversify its revenue sources and achieve sustainable long-term development through existing business growth and new opportunities [194] Financial Performance - The Group recorded total revenue of approximately HK$7.53 billion for the year, down from HK$8.00 billion in 2020, with a net loss attributable to shareholders of HK$184.5 million compared to a net profit of HK$101.4 million in 2020 [79] - Excluding a one-off provision for compensation of approximately HK$272.0 million related to legal proceedings, the Group achieved a net profit attributable to shareholders of HK$87.5 million [79] - The construction segment under the "Chun Wo" brand generated revenue of HK$6.57 billion, a decrease from HK$7.02 billion in 2020, with segment profit dropping to HK$58.6 million from HK$129.4 million [84] - The property development and assets leasing segment recorded revenue of HK$1.7 million for the year, down from HK$8.8 million in 2020 [147] - As of March 31, 2021, the total net debts of the Group were approximately HK$1,700.0 million, with total debts of approximately HK$3,270.9 million and cash and bank balances of approximately HK$1,570.9 million [169] - The gearing ratio of the Group as of March 31, 2021, was 0.74, compared to 0.72 in 2020 [169] Project Development and Operations - The Group launched the pre-sale of 207 premium residential apartments in Shijiazhuang, with a total value of RMB230 million [23] - The Group's real estate projects, including "Poly Daduhui," reflect its commitment to developing high-value residential properties in strategic locations [23] - The Group's land parcel in Tung Chung has entered the development approval stage, indicating ongoing growth in property development [63] - The Group's focus for property development will remain in Hong Kong, with a prudent approach to development plans and engagement in joint ventures to optimize returns [63] - Several major projects were completed during the year, including the construction of Public Rental Housing Redevelopment at Pak Tin Estate Phases 7 and 8, and the Phase 1 Redevelopment of Ming Wah Dai Ha [101] - Major projects in progress at the end of the year include the construction of Public Housing Development at Hiu Ming Street and the Hong Kong Disneyland Resort Project [104] Innovation and Technology - The rapid repairing mortar material ("R2M2") developed by Chun Wo won the "Gold Plus" award at the "Geneva International Exhibition of Inventions" in March 2021, highlighting the company's innovation capabilities [54] - The Group's innovation brand "Inno@ChunWo" emphasizes the development of technologies that address common issues in aging buildings, showcasing its commitment to R&D [56] - The Group's advanced "wall connection technology" under the "Inno@ChunWo" initiatives is expected to promote industry development and social progress [193] - The Group is leveraging its industry-leading patents and technology in Modular Integrated Construction to enhance its building portfolio [188] Corporate Social Responsibility (CSR) - The company emphasizes a high standard of Corporate Social Responsibility (CSR), focusing on safety, health, sustainable development, and community impact [198] - A top-down management approach is employed for CSR issues, with the Board responsible for setting the CSR strategy and an Audit Committee overseeing risk control and performance evaluation [198] - An independent carbon auditor, Accredited Certification International Limited, has been engaged to verify emissions and resource usage data, enhancing the credibility of CSR data [199] - Five material aspects of CSR were identified, including Training and Development, Employee Health and Safety, Environmental Performance, Product/Service Responsibility, and Anti-corruption [200] Employee Development and Work Environment - The company emphasizes a fulfilling work environment and career development for employees [4] - The Group's total employee remuneration for the year amounted to approximately HK$1,786.7 million, with around 6,500 employees as of March 31, 2021 [178] - The Group is actively recruiting young talent and enhancing training programs to address the persistent challenge of professional talent shortages in the construction sector [96] Market Outlook and Industry Trends - The overall industry prospects remain encouraging due to supportive government policies and large-scale public works projects in the pipeline [62] - The construction sector is expected to have opportunities due to a housing supply shortage driven by strong public and private demand, despite rising raw material costs impacting margins [96] - The easing of filibustering at the Legislative Council in the second half of the year led to more projects being rolled out, creating greater opportunities for the construction sector [80] - Real GDP in Hong Kong grew by 7.8% year-on-year in the first quarter of 2021, and by 5.3% on a seasonally adjusted quarter-on-quarter basis, indicating an improving business environment [70] - The Group remains cautiously optimistic about the construction industry, targeting large-scale projects such as the Tung Chung New Town Extension and the Lok Ma Chau Loop [188]

Financial Performance - The company reported a significant increase in revenue during the review period, with a year-on-year growth of 15%[17]. - Total revenue for the Group was approximately HK$3.83 billion, a decrease of 1% from HK$3.86 billion in 2019[47]. - Net profit attributable to shareholders amounted to HK$56.3 million, down 26.5% from HK$76.7 million in 2019[47]. - Revenue for the six months ended September 30, 2020, was HK$3,833,408, a decrease of 0.6% from HK$3,857,431 in the same period of 2019[134]. - Gross profit for the period was HK$119,936, down 41.7% from HK$206,061 in the previous year[134]. - Profit for the period attributable to shareholders was HK$56,271, a decline of 26.7% compared to HK$76,681 in the prior year[136]. - Total comprehensive income for the period attributable to shareholders was HK$84,178, an increase of 94.5% from HK$43,335 in the same period of 2019[136]. - The company reported total revenue from contracts with customers and other sources of HK$3,832,474,000, down from HK$3,833,408,000 in the previous year[198]. Operational Efficiency - User data indicates a 20% increase in project completions compared to the previous year, reflecting improved operational efficiency[17]. - The construction segment recorded revenue of HK$3.35 billion, a slight decrease from HK$3.39 billion in 2019, with a segmental profit of HK$23.7 million compared to HK$36.5 million in 2019[50]. - The Group secured several significant new projects during the Review Period, including the Fanling North New Development Area and the In-situ Reprovisioning of Sha Tin Water Treatment Works[49]. - The Group remains optimistic about future construction demand due to backlogged public works and a shortage of housing supply[48]. - The Group's "Inno@ChunWo" initiatives will continue to adopt advanced construction technologies to improve cost and efficiency[62]. Future Outlook - Future outlook includes plans for market expansion in Southeast Asia, targeting a 25% increase in market share by 2022[17]. - The management has set a performance guidance of 10-15% revenue growth for the next fiscal year[17]. - The Group expects forthcoming public works projects despite the slowdown in large-scale infrastructure projects due to the COVID-19 pandemic, focusing on investment opportunities in peripheral construction-related businesses[96]. - The company is focusing on expanding its construction-related consultancy services to enhance revenue streams in the future[198]. Investments and Acquisitions - The company is investing in new technology development, with a budget allocation of HK$50 million for R&D initiatives[17]. - Asia Allied Infrastructure is exploring potential acquisitions to enhance its service offerings, with a focus on companies in the infrastructure sector[17]. - The Group has explored merger and acquisition opportunities, including the acquisition of Hong Kong Cyclotron Laboratories Limited, a major local radiopharmaceutical manufacturer[105]. - The Group acquired Century Elite Technology Limited, specializing in renewable energy systems, to extend its footprint in sustainable energy[106]. - The Group's previous acquisition, ECO Group, has begun to yield results, winning a major hotel renovation contract in Kuala Lumpur after the review period[107]. Corporate Social Responsibility - Corporate social responsibility initiatives have been expanded, with a commitment to invest HK$5 million in community projects[17]. - The Group's "Harmony Community Programme" involves staff from various construction sites in Hong Kong's 18 districts participating in community activities[130]. - Prior to the Dragon Boat Festival, the Group prepared 400 gift bags with rice dumplings for residents of Kwu Tung Village, promoting community warmth[131]. - In July 2020, the Group distributed anti-epidemic gift bags to 30 low-income families during a community visit, addressing residents' needs during the pandemic[131]. Financial Management - The gearing ratio stands at 0.56, indicating a moderate level of debt relative to equity[46]. - The Group's financial management policy remains prudent, with borrowings primarily in Hong Kong dollars or Renminbi to minimize foreign exchange risk[84]. - As of September 30, 2020, the total net debts of the Group amounted to approximately HK$1,417.3 million, with total debts of approximately HK$2,774.0 million and cash and bank balances of approximately HK$1,356.7 million[78]. - The Group's employee remuneration for the Review Period totaled approximately HK$898.8 million, with around 6,500 employees as of September 30, 2020[88]. Employee Welfare - The Group has approximately 6,500 employees as of September 30, 2020, emphasizing the importance of employee health and safety during the COVID-19 pandemic[120]. - The Group's commitment to employee training and development includes various workshops and seminars to enhance personal capabilities[120]. - The Group provides comprehensive medical benefits and personal leave, including maternity leave, aligning with market best practices[120]. Safety and Compliance - The Group registered a safety audit score of 86.2%, surpassing the target of ≥ 83%, with an accident rate of 0.064 accidents per 100,000 working hours, lower than the target of ≤ 0.20[118]. - The Group achieved ISO 9001:2015 certification for its non-franchised bus services segment during the Review Period, reflecting its commitment to quality service[72]. - The Group has implemented carbon audits and established carbon emission benchmarks to promote responsible and sustainable operations in the construction business[123]. - The Tseung Kwan O — Lam Tin Tunnel project received the "2019 Hong Kong Awards for Environmental Excellence (HKAEE) in Construction Industry — Certificate of Merit" for its environmental protection efforts[124]. Segment Performance - The Group's operating segments include construction services, property development and assets leasing, professional services, and non-franchised bus services, each representing distinct strategic business units[167][171][172][173][174]. - For the six months ended September 30, 2020, total segment revenue was HK$3,833,408,000, with external sales contributing HK$3,833,408,000 and intersegment sales at HK$8,849,000[183]. - The construction services segment generated revenue of HK$3,346,080,000, while the property development and assets leasing segment contributed HK$1,652,000, and professional services generated HK$485,676,000[183]. - Segment results showed a profit of HK$141,963,000, with construction services at HK$23,712,000, property development at HK$32,646,000, professional services at HK$82,608,000, and non-franchised bus services at HK$2,997,000[183].

Corporate Vision and Culture - The company aims to enhance the quality of life through city and infrastructure development, focusing on dynamic and sustainable growth [2]. - The corporate culture emphasizes excellence, client satisfaction, and responsible project management, which has been a key to the company's success over the past fifty years [4]. - The company is committed to creating value for shareholders and providing a fulfilling work environment for employees [2]. Financial Performance - The annual report includes a consolidated statement of profit or loss and other comprehensive income, detailing financial performance [5]. - The financial summary for the past five years is provided, highlighting trends and performance metrics [5]. - The Group reported a revenue of HK$8.00 billion and a net profit attributable to shareholders of HK$101.4 million for the fiscal year [49]. - The Group recorded total revenue of HK$8.00 billion for the year, a slight decrease from HK$8.08 billion in 2019, and a net profit attributable to shareholders of HK$101.4 million, down from HK$136.6 million in 2019 [61][62]. - The construction business generated revenue of HK$7.02 billion, compared to HK$7.31 billion in 2019, with a segmental profit of HK$129.4 million, down from HK$150.4 million [64]. - The Group's total net debts amounted to approximately HK$1,773.3 million, with total debts of approximately HK$2,918.5 million and cash and bank balances of approximately HK$1,145.2 million as of March 31, 2020 [111]. - The gearing ratio of the Group was 0.72 as of March 31, 2020, compared to 0.37 in 2019, indicating a significant increase in leverage [111]. Corporate Governance and Accountability - The company has outlined its corporate governance practices and the roles of various committees in ensuring accountability and transparency [6]. - The Group's financial management policy remains prudent, focusing on internally generated funds and bank borrowings supplemented by equity funding when necessary [110]. Market Expansion and Strategic Initiatives - The company is focused on expanding its construction business and enhancing its market presence in Asia [6]. - Future outlook includes strategic plans for market expansion and potential mergers and acquisitions to drive growth [6]. - The Group plans to cautiously expand its footprint in Asia, particularly in the Greater Bay Area and Belt and Road countries, while identifying suitable business opportunities in emerging sectors [56]. - The Group's strategy includes forming operational synergies through equity investment with ECO, a Malaysian company in the interior design and construction sector [108]. Community Engagement and Social Responsibility - The report includes details on environmental, social, and governance (ESG) initiatives, reflecting the company's commitment to corporate social responsibility [6]. - The "Lifewire Run 2019" charity event raised approximately HK$2 million, with over 1,700 participants and 100 sponsoring organizations [26]. - The charity concert organized with the SAR Philharmonic Orchestra raised over HK$1 million for children with rare diseases, demonstrating the company's commitment to social responsibility [16]. - Chun Wo's ongoing projects and community initiatives reflect its dedication to both infrastructure development and corporate social responsibility [19]. - The company is focused on enhancing public awareness of rare diseases through its charitable activities and community events [26]. Operational Excellence and Project Management - Chun Wo's engineering team faced challenges in maintaining safety and progress during large-scale projects, highlighting their commitment to operational excellence [15]. - The construction business continued to perform well despite delays in funding approvals for large-scale infrastructure projects, with sales of "The Cavaridge" expected to contribute positively in the near future [51]. - Major projects completed during the year included the Main Contract for the Subsidised Sale Flats Project at Shatin Area 36C and the construction of a columbarium at Wo Hop Shek Cemetery [76]. - Ongoing major projects at the end of the year included the redevelopment of public rental housing at Pak Tin Estate Phases 7, 8, and 11, and the public housing development at Hiu Ming Street [80]. Employee Engagement and Development - The Group had approximately 6,500 employees as of March 31, 2020, with total employee remuneration amounting to approximately HK$1,760.1 million [118]. - The Group offers a range of training programs to enhance employee skills, with training sponsorship available since 2005 [149]. - Annual reviews of employee compensation and benefits ensure competitiveness in the market, including medical schemes and retirement benefits [148]. - The Group's workforce demographics showed 68.9% male and 31.1% female employees in 2019/20 [135]. Health and Safety Management - The Group's health and safety policies are aligned with international standards, ensuring a hazard-free workplace [178]. - The Group received over 40 safety and health awards in the year, demonstrating effective implementation of occupational safety and health management systems across various divisions [183]. - The Group's commitment to employee safety is reflected in its adherence to occupational safety and health regulations and the provision of reasonable working hours for drivers [180]. - The Group has established an effective occupational health and safety management system in compliance with ISO 45001:2018 regulations [180]. Environmental Management - The Group aims to achieve a 5% reduction in emissions and resources used per HK$ million revenue for every five financial years [191]. - Over 90% of construction waste is recycled and reused [200]. - The Group has established effective environmental management systems in compliance with ISO 14001 and ISO 50001 standards [191]. - The Group actively supports various environmental protection organizations as part of its corporate responsibility [191].

Company Vision and Mission - The company aims to achieve dynamic and sustainable growth as a leading contractor and developer in Asia[2] - The mission includes improving quality of life through city and infrastructure development, and creating value for shareholders[2] - The company emphasizes corporate social responsibility as a core value, aiming to enhance community welfare[5] Financial Performance - The interim financial report covers the six months ended September 30, 2019, detailing the company's financial performance[8] - The Group recorded total revenue of approximately HK$3.86 billion for the Review Period, an increase from HK$3.20 billion in 2018[22] - Net profit attributable to Shareholders amounted to HK$76.7 million, down from HK$84.5 million in 2018[22] - The construction operation generated revenue of HK$3.39 billion, up from HK$2.85 billion in 2018, with a segment profit of HK$36.6 million[22] - The property development and assets leasing business contributed HK$2.8 million in revenue during the review period, down from HK$4.3 million in 2018, reflecting a decline of approximately 34.9%[30] - The Group recorded revenue from all six tunnel management contracts for the first time, contributing to the positive performance in the professional services segment[35] - The Group reported a revenue of HK$3,857,431,000 for the six months ended September 30, 2019, representing an increase of 20.5% compared to HK$3,201,545,000 in the same period of 2018[84] - Gross profit for the period was HK$206,061,000, up from HK$152,289,000, indicating a gross profit margin improvement[84] - Profit before tax decreased to HK$90,648,000 from HK$131,858,000, reflecting a decline of 31.3% year-on-year[84] - Profit for the period was HK$77,291,000, down from HK$86,260,000, a decrease of 10.3% compared to the previous year[84] - Total comprehensive income for the period was HK$43,945,000, compared to HK$32,365,000 in the prior year, showing an increase of 36%[84] Operational Focus and Strategy - The company is focused on expanding its construction business and enhancing operational efficiency[2] - The Group is exploring opportunities in Belt and Road countries through mergers and acquisitions or strategic cooperation[22] - The Group aims to seize opportunities arising from new large-scale infrastructure projects, including the "Lantau Tomorrow Vision" development[25] - The management is focused on streamlining operations to achieve solid and sustainable long-term growth[22] - The Group's strategy includes forming joint ventures to minimize risk and reviewing its property portfolio to maximize returns, with ongoing projects in well-positioned locations[31] - The Group continues to explore suitable opportunities for diversifying its business to expand its development blueprint[35] - The Group aims to enhance its influence in the region through partnerships and investments in relevant enterprises to maintain industry leadership[56] Employee and Community Engagement - The report highlights the importance of employee development and a fulfilling work environment[2] - The total remuneration for employees during the review period was approximately HK$864.8 million, with around 6,723 employees as of September 30, 2019[48] - The Group organized over 300 hours of volunteer activities during the review period, emphasizing its commitment to corporate social responsibility[80] - A charity concert organized by Lifewire and The SAR Philharmonic Orchestra raised over HK$1 million for children with rare diseases, supported by 33 organizations[82] - The Group encourages a healthy work-life balance for employees, organizing various activities for staff and their families[65] Financial Position and Debt Management - Total net debts of the Group amounted to approximately HK$1,708.0 million as of September 30, 2019, with total debts of approximately HK$2,957.9 million[38] - The Group's cash and bank balances were approximately HK$1,249.9 million, indicating a significant liquidity position[39] - As of September 30, 2019, total debts amounted to HK$2,957.9 million, an increase from HK$2,761.3 million as of March 31, 2019[40] - The Group's gearing ratio increased to 0.69 as of September 30, 2019, compared to 0.37 on March 31, 2019[46] - The Group's borrowings and cash balances are primarily denominated in Hong Kong dollars or Renminbi, minimizing exposure to foreign exchange fluctuations[47] - The Group has not hedged its borrowings with any interest rate financial instruments[49] Health, Safety, and Environmental Initiatives - The Group registered a safety audit score of 87.6%, surpassing the target of 86.5%, with an accident rate of 0.131 accidents per 100,000 working hours, lower than the target of ≤0.21[66] - The Group has received multiple awards for its health and safety management, including the "25th Considerate Contractors Site Award Scheme" and "Safety Video Competition 2019" awards[66] - The Group is committed to environmental protection, implementing stringent carbon audits and establishing carbon emission benchmarks[71] - The Group's environmental performance has been recognized with awards such as the "25th Considerate Contractors Site Award Scheme" for Outstanding Environmental Management[72] Challenges and Market Conditions - The construction sector has been adversely impacted by social unrest and delays in funding approvals, affecting major infrastructure projects[25] - The construction sector is not expected to see an upturn in the immediate future due to ongoing filibustering affecting large-scale infrastructure projects[55] - Home prices have slightly decreased due to factors such as the US-China trade war, increased supply of new flats, and higher mortgage rates, alongside rising social unrest and a volatile stock market[30] - The Hong Kong Government's commitment to increasing land and housing supply is anticipated to create opportunities for the industry once relevant projects enter the tender process[55] Shareholder Engagement and Compensation - The Share Award Scheme was adopted to align employee interests with shareholders, allowing for the granting of restricted shares[53] - The Share Option Scheme is valid for 10 years, providing incentives and rewards to eligible participants[54] Asset Management - Total non-current assets increased to HK$1,770,885,000 from HK$1,476,376,000, representing a growth of approximately 20%[90] - Current assets totaled HK$6,701,026,000, slightly down from HK$6,749,138,000, indicating a decrease of about 0.7%[90] - Total current liabilities rose to HK$4,534,998,000, up from HK$4,052,186,000, reflecting an increase of approximately 11.9%[94] - Net current assets decreased to HK$2,166,028,000 from HK$2,696,952,000, a decline of about 19.6%[94] - Total assets less current liabilities amounted to HK$3,936,913,000, down from HK$4,173,328,000, showing a decrease of approximately 5.7%[94] - Non-current liabilities decreased to HK$1,442,046,000 from HK$1,699,178,000, a reduction of about 15.1%[94] - Net assets increased to HK$2,494,867,000 from HK$2,474,150,000, reflecting a growth of approximately 0.8%[94] - Issued capital slightly decreased to HK$185,274,000 from HK$186,339,000, a decline of about 0.6%[94] - Reserves increased to HK$2,276,252,000 from HK$2,255,263,000, indicating a growth of approximately 0.9%[94] - Total equity rose to HK$2,494,867,000 from HK$2,474,150,000, reflecting an increase of about 0.8%[94]

Contracts and Projects - Chun Wo Tunnel Management Limited secured two six-year tunnel management contracts for Shing Mun Tunnels and Tseung Kwan O Tunnel, effective from June 1, 2018, and August 1, 2018, respectively[15]. - The construction of the Hong Kong-Zhuhai-Macao Bridge Hong Kong Boundary Crossing Facilities – Passenger Clearance Building was completed in 2018, with a contract value of HK$8.4 billion[16]. - Chun Wo secured a four-year management, operation, and maintenance contract for the Central – Wan Chai Bypass Tunnel, effective from January 20, 2019[21]. - The Group has secured two six-year tunnel management contracts and a four-year tunnel management, operation, and maintenance contract, managing six tunnels in Hong Kong[50]. - Major projects completed in the year include the Hong Kong-Zhuhai-Macao Bridge Passenger Clearance Building and the redevelopment of Kwai Chung Hospital[73]. - At the end of the year, ongoing major projects include the construction of public rental housing at Pak Tin Estate and the development of the Hong Kong International Airport Terminal 2[85]. - The Group secured 17 new projects during the year, including significant developments such as public housing and road improvement works[67]. Financial Performance - The Group recorded a revenue of HK$8.08 billion and a net profit attributable to shareholders of HK$137 million for the year ended 31 March 2019[43]. - The Group recorded total revenue of HK$8.08 billion for the year, a decrease from HK$8.23 billion in 2018[64]. - Net profit attributable to shareholders was HK$137 million, down from HK$150 million in the previous year[64]. - The construction segment generated revenue of HK$7.31 billion, compared to HK$7.68 billion in 2018, with segmental profit increasing to HK$150.4 million from HK$116.3 million[67]. - As of March 31, 2019, the Group held contracts with an aggregate value of HK$26.99 billion, with ongoing projects valued at HK$11.64 billion[67]. - The property development and assets leasing segment recorded a profit of HK$180.3 million, down from HK$197.7 million in 2018[99]. - The professional services segment generated revenue of HK$763 million, an increase from HK$548 million in 2018, with a profit of HK$28.8 million compared to HK$26.7 million in the previous year[99]. - As of March 31, 2019, the Group's total net debts amounted to approximately HK$905.3 million, with total debts of approximately HK$2,761.3 million and cash and bank balances of approximately HK$1,856.0 million[107][108]. - The Group's gearing ratio increased to 0.37 as of March 31, 2019, compared to 0.30 in 2018, while the current ratio rose by 30% to 1.67, indicating a healthy financial position[109][110]. Corporate Social Responsibility - The "Photalkgraphers" Charitable Photo Exhibition raised over HK$2.4 million to benefit children with rare diseases[19]. - The charity photography exhibition "My Photo, My Story" raised over HK$2.4 million for children with rare diseases, with all proceeds donated to Lifewire after costs[20]. - The "Lifewire Run" charity event attracted over 1,500 participants and raised more than HK$1.7 million, all of which was donated to support child patient cases[29]. - The Group celebrated its 50th anniversary with events including a photo exhibition showcasing its construction projects over the past five decades[23]. - The Group's strategic partners are involved in various ongoing property development projects, enhancing collaboration and resource sharing[99]. - The company is committed to corporate social responsibility while seeking business growth, emphasizing sustainability in its operations[70]. - The company recognizes the importance of corporate social responsibility and has implemented various initiatives to enhance its performance in this area[139]. Innovation and Technology - The Group's Inno@ChunWo initiative announced innovative construction technologies, including Rapid Repairing Mortar Materials (R2M2) and AI applications for construction safety[32]. - The introduction of Rapid Repairing Mortar Materials (R2M2) and the adoption of A.I. technology are part of the Group's innovative technology development efforts[44]. - The company has invested in research and development, resulting in the introduction of Rapid Repairing Mortar Materials (R2M2) to enhance repair efficiency for old buildings and is leveraging A.I. technology to improve construction safety and efficiency[70]. - The company has launched a Carbon Emission Offset Program in collaboration with Shell Hong Kong Limited, becoming the first engineering company in Hong Kong to achieve zero carbon dioxide emissions from construction sites[70]. Market and Economic Outlook - The Hong Kong economy grew by 3% in 2018, with fluctuations due to the US-China trade war and interest rate hikes[45]. - The construction industry faced challenges due to internal and external factors, impacting the business environment[43]. - The housing market is expected to benefit from government initiatives to allocate land for residential housing, particularly public housing, creating further opportunities for the company[69]. - The Group aims to expand its services across Asia, leveraging its expertise in project management and construction[57]. - Future strategies include involvement in key infrastructure projects like the Three-Runway System at Hong Kong International Airport and the Lantau reclamation project[54]. - The Belt and Road initiative is expected to create significant opportunities for the Group, which will closely monitor relevant developments[54]. - The Group aims to explore opportunities in major Asian markets, particularly along the Belt and Road route, to benefit from infrastructure development[132]. Employee and Workplace Safety - The Group had approximately 6,595 employees as of March 31, 2019, with total employee remuneration for the year amounting to approximately HK$2,033.9 million[116][122]. - The Group adopted a restricted share award scheme on August 1, 2017, to align employee interests with shareholders through ownership of shares[117][122]. - The Group will continue to review staff compensation and benefits annually to ensure competitiveness in the market[144]. - The company has been accredited with ISO 9001, ISO 14001, ISO 45001, and OHSAS 18001 certifications, ensuring compliance with international health and safety standards[170]. - The company has implemented a safety audit system to monitor the effectiveness of its safety management system[163]. - The company encourages employees to take responsibility for workplace safety by complying with safety policies and reporting violations[172]. - The company has established mini health check stations and heat shelters at construction sites to protect workers' health[168]. - The company has achieved a decreasing trend in the accident frequency rate over the past five years, reflecting its commitment to construction site safety[164]. - The corporate average safety audit score for 2018 was 87.6%, exceeding the target of 86% set for that year[163]. - The accident frequency rate (AFR) for 2018 was recorded at 0.191 per 100,000 man-hours, which is below the target of 0.21[167]. Environmental Sustainability - Over 90% of construction waste was recycled and reused, totaling 597,132.63 tonnes[192]. - Less than 10% of waste was disposed of, reducing pressure on landfills[195]. - The company implemented a Waste Management Hierarchy to minimize waste production and enhance recycling[189]. - The company reused soil from other projects, amounting to 43,893.32 tonnes[193]. - The company recycled 3,832.32 tonnes of metal and 349.96 tonnes of timber/paper/cardboard[193]. - The company is using B5 bio-diesel at project sites to reduce carbon emissions[196]. - The company has adopted energy-saving T5 fluorescent tubes and LED lighting, phasing out traditional T8 tubes[196]. - The company has established effective environmental management systems compliant with ISO 14001 and ISO 50001 standards[189]. - The company has initiated sustainable designs and construction methods to protect the environment and enhance recycling[199].