CSC DEVELOPMENT(00830)

Search documents
中国建筑兴业(00830) - 2021 - 年度财报
2022-04-19 09:52
Financial Performance - For the fiscal year ending December 31, 2021, the company reported a revenue of HKD 6,294.83 million, representing a growth of 38.8% compared to HKD 4,535.66 million in 2020[9]. - The net profit attributable to shareholders for 2021 was HKD 291.98 million, an increase of 50.2% from HKD 194.34 million in 2020[9]. - The total assets of the company reached HKD 8,809.63 million in 2021, up from HKD 7,388.90 million in 2020, indicating a growth of 19.2%[9]. - The return on equity for 2021 was 18.2%, an increase from 13.9% in 2020[9]. - The company achieved a revenue of HKD 6.295 billion for the year, representing a growth of 38.8% compared to the previous year[33]. - Shareholders' profit attributable to the company was HKD 292 million, an increase of 50.2% year-on-year[33]. - Earnings per share reached HKD 0.1355, reflecting a 50.2% increase compared to the end of the previous year[33]. - The company recorded total revenue of HKD 6.295 billion for the year ended December 31, 2021, representing a 38.8% increase from HKD 4.536 billion in 2020[46]. - The profit attributable to shareholders was HKD 292 million, up 50.2% from HKD 194 million in the previous year[46]. - The earnings per share increased to HKD 0.1355, a 50.2% rise compared to HKD 0.0902 in 2020[46]. - The company reported a significant increase in revenue, achieving a total of $X million, representing a Y% growth compared to the previous year[62]. - The company reported a net profit of HKD 291,976,000 for the year, compared to a loss of HKD 8,069,000 the previous year, indicating a significant turnaround in performance[169]. - Total comprehensive income for the year reached HKD 390,402,000, up from HKD 382,868,000 in the prior year, reflecting a stable growth trajectory[169]. Dividends and Shareholder Returns - The company announced a mid-year dividend of HKD 0.047 per share, reflecting a significant increase from HKD 0.03 per share in the previous year[19]. - The company plans to distribute a final dividend of HKD 0.017 per share, considering its profitability and cash flow[33]. - The group reported a total dividend payout of HKD 101,310,000 for the year, with a total annual dividend of HKD 0.047 per share, including an interim dividend of HKD 0.03 and a proposed final dividend of HKD 0.017[101]. - The company paid dividends totaling HKD 129,332,000 during the year, reflecting a commitment to returning value to shareholders[172]. Business Operations and Projects - The company secured a record residential project contract in Hong Kong worth HKD 580 million, marking the highest contract value in its history[19]. - The company completed over 310 overseas projects, establishing a strong competitive position in the global market[18]. - The company achieved a significant milestone by completing 140,000 square meters of curtain wall installation for the Shenzhen International Hotel project in just 100 days[21]. - New contract signings for curtain wall projects in Hong Kong and mainland China reached a historical high during the year[35]. - The company is actively developing high-end curtain wall projects to leverage its brand effect[35]. - The company secured multiple high-profile projects in mainland China, including contracts with OPPO and Huawei, contributing to a record high in new contracts signed[36]. - The company is focused on expanding its market presence in Hong Kong and mainland China while reducing overseas operations[33]. - The total new contract value signed was HKD 8,208 million for the year, achieving the annual target[51]. - The total backlog of contracts as of December 31, 2021, was approximately HKD 18,715 million, with unfinished contracts amounting to HKD 10,850 million[51]. Financial Position and Assets - Cash and cash equivalents increased to HKD 928 million as of December 31, 2021, compared to HKD 858 million in 2020[53]. - The net debt-to-equity ratio was approximately 25.6% as of December 31, 2021, up from 15.4% in 2020[54]. - The company’s equity attributable to shareholders increased to HKD 1,670,735 thousand in 2021 from HKD 1,403,019 thousand in 2020, reflecting a stronger financial position[166]. - The company’s total assets increased to HKD 1,670,735,000 as of December 31, 2021, compared to HKD 1,585,058,000 at the end of the previous year, indicating growth in asset base[169]. - Trade receivables net value amounted to HKD 1.413 billion, and contract assets were HKD 2.450 billion, representing 44% of the group's total assets[154]. Governance and Compliance - The company has adopted the Corporate Governance Code as per the Hong Kong Stock Exchange's Listing Rules, ensuring high standards of corporate governance[73]. - The board consists of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors, complying with the requirement of at least one-third independent directors[74]. - The company emphasizes the importance of having sufficient time for each board member to effectively fulfill their duties[78]. - The board is responsible for approving the group's financial statements, dividends, external financing, and significant acquisitions or disposals[74]. - Independent non-executive directors contribute to the board by providing independent and objective judgment, ensuring the integrity of financial information and robust risk management systems[76]. - The company has established internal controls and approval processes to monitor compliance with applicable laws and regulations[107]. - The company has complied with all relevant laws and regulations throughout the fiscal year ending December 31, 2021, ensuring adherence to legal requirements in all significant aspects[107]. Risk Management - The company has established a risk management framework that includes multiple approval checkpoints throughout the project lifecycle, ensuring risks are managed effectively[93]. - The board confirmed that the risk management and internal control systems are sufficient and effective in assessing and managing significant risks to achieve strategic objectives[94]. - The company has implemented new risk management strategies, which are projected to decrease operational risks by I%[70]. - The group closely monitors foreign exchange rate fluctuations and has not used any financial instruments for hedging as of December 31, 2021[104]. - The group has established policies to assess, record, and manage interest rate risks, considering hedging for significant interest rate fluctuations when necessary[104]. Future Outlook and Strategy - The company is actively exploring BIPV investment and operational industrialization in collaboration with Longyan Energy Technology, focusing on low-carbon development trends[20]. - The company plans to focus on high-end markets and enhance project management to maintain ideal profit levels while expanding its presence in the Greater Bay Area[42]. - The company aims to strengthen its design team in Hong Kong and North America while expanding its mainland China design team to meet project demands[43]. - The company is implementing a marketing strategy centered on "large markets, large owners, and large projects" to enhance its competitive advantage[35]. - The company is committed to a prudent bidding strategy to maximize internal synergies and project quality[35]. Accounting and Financial Reporting - The financial statements for the year ending December 31, 2021, were prepared under the Hong Kong Financial Reporting Standards and applicable laws[92]. - The company has adopted several revised Hong Kong Financial Reporting Standards, including HKFRS 9 and HKAS 39, which address issues related to the replacement of existing interest rate benchmarks[176]. - The group expects that the amendments will not have a significant impact on its financial statements[179]. - The company applies straight-line depreciation for other assets based on estimated useful lives, with buildings depreciated over the shorter of the lease term or 50 years[198]. - The company reviews and adjusts the residual value and useful life of assets at each reporting period end, with immediate impairment recognized if the carrying amount exceeds the estimated recoverable amount[198].
中国建筑兴业(00830) - 2021 - 中期财报
2021-09-06 08:30
(於開曼群島註冊成立之有限公司) (incorporated in the Cayman Islands with limited liability) Stock Code 股份代號: 00830 2021 INTERIM REPORT 中期報告 (於開曼群島註冊成立之有限公司) (incorporated in the Cayman Islands with limited liability) Stock Code 股份代號: 00830 C007445 2021 INTERIM REPORT 中期報告 目錄 Contents 2 公司業務架構 3 董事局及委員會 4 公司資料 5 董事局主席報告書 10 管理層討論及分析 14 未經審核之簡明綜合收益表 15 未經審核之簡明綜合全面收益表 16 未經審核之簡明綜合財務狀況表 18 未經審核之簡明綜合權益變動表 19 未經審核之簡明綜合現金流量表 20 未經審核之簡明綜合財務報表附註 33 其他資料 37 Corporate Structure 38 Board of Directors and Committees 39 Corporate Infor ...