Financial Performance - Total new contracts signed and supplemented during the period amounted to HKD 186,512,000, a decrease of HKD 9,641,000 or 4.9% compared to HKD 196,153,000 for the six months ended June 30, 2023[7]. - The total value of contracts on hand was HKD 1,261,760,000, down HKD 49,008,000 or 3.7% from HKD 1,310,768,000 as of June 30, 2023[7]. - Revenue from continuing operations was HKD 206,385,000, a decrease of 12.2% from HKD 234,974,000 for the same period last year[7]. - The loss from continuing operations for the period was HKD 12,074,000, compared to a loss of HKD 14,501,000 for the six months ended June 30, 2023[7]. - The loss attributable to owners of the company was HKD 12,195,000, down from HKD 14,132,000 for the same period last year[7]. - Basic and diluted loss per share was HKD 0.0423, compared to HKD 0.0503 for the six months ended June 30, 2023[7]. - The company reported a gross profit of HKD 29,859,000, down from HKD 34,761,000 for the same period last year[8]. - The total comprehensive loss attributable to owners for the same period was HKD 15,413,000, down from HKD 21,042,000 in 2023, indicating a 27% reduction in losses[10]. - The company's basic and diluted loss per share for the period was HKD 4.23, compared to HKD 4.90 in the previous year, reflecting a 14% decrease in loss per share[10]. - Total revenue for the six months ended June 30, 2024, was HKD 206,385,000, with HKD 182,162,000 from architectural design services and HKD 24,223,000 from landscape design, urban planning, interior design, and heritage conservation services[27]. - Total external customer revenue for the six months ended June 30, 2024, was HKD 206,385,000, a decrease of 12.1% from HKD 234,974,000 in the same period of 2023[31]. Expenses and Liabilities - Administrative expenses decreased to HKD 38,424,000 from HKD 48,522,000 for the same period last year[8]. - The cost of services provided decreased to HKD 176,526,000 in 2024 from HKD 200,213,000 in 2023, reflecting a reduction of 11.8%[33]. - The company reported a significant decrease in employee costs, which fell to HKD 143,366,000 in 2024 from HKD 165,119,000 in 2023, a reduction of 13.2%[33]. - Current liabilities were reduced to HKD 222,835,000 from HKD 250,282,000, showing a decrease of about 11%[11]. - The total equity attributable to owners decreased to HKD 400,335,000 from HKD 415,771,000, a reduction of about 4%[13]. Cash Flow and Assets - The net cash flow from operating activities for the six months ended June 30, 2024, was HKD 6,188,000, compared to a net cash outflow of HKD 27,218,000 for the same period in 2023[22]. - The net cash used in investing activities for the six months ended June 30, 2024, was HKD 9,468,000, compared to a net cash inflow of HKD 8,230,000 for the same period in 2023[22]. - The net cash flow used in financing activities for the six months ended June 30, 2024, was HKD 7,386,000, compared to a net cash outflow of HKD 19,427,000 for the same period in 2023[22]. - The company's cash and bank balances were reported at HKD 77,933,000, down from HKD 90,101,000, reflecting a decrease of approximately 13%[11]. - The net current assets amounted to HKD 256,353,000, down from HKD 276,209,000, indicating a decline of approximately 7%[11]. - Non-current assets as of June 30, 2024, totaled HKD 155,993,000, slightly down from HKD 156,707,000 at the end of 2023[11]. Operational Focus and Strategy - The company continues to focus on improving operational efficiency and exploring market expansion opportunities to enhance future performance[10]. - The company aims to leverage opportunities in green smart building development in mainland China, Hong Kong, and the Middle East and North Africa[64]. - The company is committed to deepening digital transformation and focusing on sustainable development practices to improve living environments[64]. Corporate Governance and Shareholder Information - The company has complied with the corporate governance code as set out in the listing rules during the reporting period[75]. - Major shareholders included Beijing Holdings Group Limited and Beijing Municipal Engineering Design & Research Institute, each holding 27.57% of the shares[70]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited consolidated results for the six months ended June 30, 2024[76]. - The company has not reported any conflicts of interest among directors or major shareholders during the reporting period[74]. - The company has appointed a new executive director and committee member effective June 6, 2024, following the resignation of a previous director[75]. Dividends and Share Options - No interim dividend was declared for the period, consistent with the previous year[7]. - The company did not declare any interim dividends for the six months ended June 30, 2024, and June 30, 2023[44]. - The company has adopted a share option scheme to encourage contributions from qualified individuals, which will expire on December 5, 2023, with details available in the 2023 annual report[72]. - As of June 30, 2024, a total of 44,800,000 share options have been granted under the scheme, representing approximately 15.54% of the total issued shares as of that date[73].

Financial Performance - Total new contracts signed and supplementary contracts amounted to HKD 186,512,000, a decrease of HKD 9,641,000 or 4.9% compared to HKD 196,153,000 in the same period last year[1] - Total contracts on hand decreased to HKD 1,261,760,000, down HKD 49,008,000 or 3.7% from HKD 1,310,768,000 year-on-year[1] - Revenue from continuing operations was HKD 206,385,000, representing a decrease of 12.2% from HKD 234,974,000 in the previous fiscal year[1] - The loss from continuing operations was HKD 12,074,000, an improvement from a loss of HKD 14,501,000 in the same period last year[1] - Loss attributable to owners of the company was HKD 12,195,000, compared to HKD 14,132,000 in the previous year[1] - Basic and diluted loss per share was HKD 0.0423, down from HKD 0.0503 in the same period last year[1] - Total comprehensive loss for the period was HKD 15,292,000, compared to HKD 18,224,000 in the previous year[2] - For the six months ended June 30, 2024, the company reported a net loss of HKD 12,195,000, compared to a net loss of HKD 14,132,000 for the same period in 2023, indicating an improvement of approximately 14%[5] - The total comprehensive loss for the period was HKD 15,436,000, a decrease from HKD 21,042,000 in the previous year, reflecting a reduction of about 27%[5] Assets and Liabilities - Total non-current assets amounted to HKD 155,993,000, slightly down from HKD 156,707,000 at the end of the previous year[4] - Total current assets decreased to HKD 479,188,000 from HKD 526,491,000 at the end of the previous year[4] - The company’s retained earnings decreased to HKD 141,253,000 from HKD 154,350,000, reflecting a decline of approximately 8.5%[5] - The company’s total liabilities decreased from HKD 505,622,000 to HKD 494,064,000, indicating a reduction of about 2.3%[5] Revenue Breakdown - For the six months ending June 30, 2024, the total revenue from the integrated architectural design services and related services was HKD 206,385,000[12] - The revenue from the integrated architectural design services segment for the six months ending June 30, 2023, was HKD 234,974,000, indicating a decrease of approximately 12% year-over-year[13] - The external customer revenue from Mainland China for the six months ending June 30, 2024, was HKD 81,271,000, down from HKD 120,137,000 in 2023, representing a decline of approximately 32%[15] - The total revenue from the Hong Kong market for the six months ending June 30, 2024, was HKD 76,556,000, a decrease from HKD 85,749,000 in 2023, reflecting a decline of approximately 11%[15] Cash Flow and Investments - Cash and cash equivalents at the end of the period stood at HKD 77,933,000, down from HKD 116,922,000 at the end of June 2023, representing a decrease of approximately 33%[7] - The net cash flow used in operating activities was HKD 6,188,000, a significant improvement compared to a net cash outflow of HKD 27,218,000 in the prior year[7] - The company incurred a net cash outflow from investing activities of HKD 9,468,000, contrasting with a net cash inflow of HKD 8,230,000 in the same period last year[7] Discontinued Operations - The company has classified its BIM services as discontinued operations as of October 6, 2023, impacting future revenue streams[11] - The profit from discontinued operations for the period amounted to HKD 3,568,000, with HKD 499,000 attributable to the company's owners[21] - The discontinued operations generated revenue of HKD 65,200,000 and incurred a service cost of HKD 52,231,000, resulting in a pre-tax profit of HKD 5,113,000[22] - The net cash outflow from discontinued operations was HKD 3,270,000, with operating activities resulting in a cash outflow of HKD 3,161,000[23] Shareholder Information - The company’s issued share capital remained at HKD 2,883,000, with a share premium of HKD 283,501,000 as of June 30, 2024[5] - As of June 30, 2024, the company has a total of 69,398,000 shares held by director Liang Pengcheng, representing 24.07% of the total shares[53] - Major shareholder Beijing Holdings Group Limited holds 79,473,780 shares, accounting for 27.57% of the issued share capital[56] - The company has a total of 44,800,000 stock options available for exercise as of June 30, 2024[58] Corporate Governance - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited consolidated results for the six months ended June 30, 2024[67] - The company has adopted and complied with the corporate governance code as per the listing rules during the six months ended June 30, 2024[65] - The company has adopted a code of conduct for securities transactions by directors, which complies with the standard code set out in the listing rules[63]

Financial Performance - The company achieved a revenue of HKD 454,250,000 for the year, a decrease of 14.9% compared to HKD 533,759,000 in 2022[29]. - Revenue from mainland China decreased by HKD 125,170,000, representing a decline of 37.7% due to ongoing challenges in the real estate sector[29]. - The company signed 188 new contracts with external clients, valued at approximately HKD 744,758,000, a decrease of 25.1% from HKD 557,812,000 in 2022[28]. - The backlog of contracts as of December 31, 2023, was approximately HKD 1,393,992,000, down 8.5% from HKD 1,523,790,000 in 2022[28]. - The annual gross profit for the continuing operations was HKD 58,542,000, a decrease of 18.0% from HKD 71,423,000 in 2022, with gross margins of 12.9% and 13.4% respectively[32]. - The annual loss for 2023 was HKD 19,080,000, compared to a loss of HKD 11,136,000 in 2022, with losses attributable to the company's owners amounting to HKD 21,240,000 in 2023 versus HKD 18,797,000 in 2022[35]. - The annual service cost for continuing operations was HKD 395,780,000, a reduction of 14.4% from HKD 462,336,000 in 2022[30]. Market Expansion and Opportunities - In 2023, the company faced unprecedented challenges, but managed to maintain and slightly expand its market share through diverse project types and revenue sources[11]. - The company reported a significant increase in project numbers in Macau, benefiting from new local government policies and gaming licenses, with expectations for further revenue growth in the next 12 months[12]. - The company celebrated its fifth anniversary in the Middle East and North Africa region, highlighting growth and innovation in delivering projects like agricultural eco-tourism resorts and Abu Dhabi port[13]. - The company is actively seeking new investment opportunities, particularly in medical technology projects aimed at transferring healthcare technology to mainland China[14]. - The company aims to leverage opportunities in the Greater Bay Area, focusing on economic growth and innovation, while promoting green smart building development in key markets[40]. - The Vision 2030 plan in Saudi Arabia is expected to create significant opportunities in the real estate sector, emphasizing sustainability and self-sufficiency[41]. - The company has expanded its business scope to Southeast Asia and the Middle East, enhancing market penetration and diversification[48]. Sustainability and Innovation - The company is committed to digital transformation and sustainable development practices, aiming to accelerate global sustainable transformation despite current market challenges[41]. - The company emphasizes sustainable practices and has implemented various policies to monitor environmental, social, and governance (ESG) performance[98]. - The company has implemented the ISO 14001 environmental management system and has been certified since 2018, focusing on systematic prevention and mitigation of adverse environmental impacts[107]. - The company has adopted Modular Integrated Construction (MiC) technology, significantly improving construction productivity and sustainability since 2019[108]. - The company aims to reduce carbon emissions by improving energy efficiency and complying with applicable environmental laws and regulations[113]. - The company has received multiple awards for its green building projects, including the Quality Building Award and the Hong Kong Green Building Council's Environmental Building Award[118]. - The company is committed to integrating sustainable development into its business strategy and operations, aiming to create long-term value for the community[125]. Corporate Governance and Management - The company adheres to good corporate governance practices, ensuring responsible decision-making and transparency in shareholder communications[168]. - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, ensuring compliance with regulatory requirements[169]. - The company focuses on maintaining high standards of business ethics and governance across all operations, with training programs for new employees on compliance standards[171]. - The board consists of nine members, including six executive directors and three independent non-executive directors, ensuring a balanced skill set and diversity[176]. - The company has established four committees: Audit Committee, Remuneration Committee, Nomination Committee, and Investment Committee to oversee specific areas of governance[190]. - The company emphasizes the importance of a diverse board to enhance performance quality, considering various factors such as gender, age, and professional qualifications[198]. Employee Engagement and Development - The company has a strong presence in Greater China, with offices in major cities including Hong Kong, Shenzhen, Beijing, Guangzhou, Shanghai, Chongqing, Xiamen, and Macau[99]. - The company employs approximately 710 full-time employees as of December 31, 2023, a decrease from approximately 1,130 in 2022[70]. - The employee turnover rate for management was low, indicating high employee satisfaction and engagement[133]. - The company maintained a gender diversity ratio of 63% male and 37% female in 2023, with a notable increase in female representation in senior management positions[134]. - The percentage of trained employees was 21% for senior management and 56% for general employees, reflecting a commitment to professional development[136]. - The company actively recruits graduates from renowned universities, hiring over 10 interns in the past year to support various teams[128]. Community and Stakeholder Engagement - The company emphasizes the importance of community investment through participation in community programs and donations[106]. - The company is committed to creating value for the community and environment, not just for shareholders, through its business decisions[102]. - The company actively participates in environmental protection and community welfare initiatives, including beach clean-ups and tree planting activities[159]. - The company encourages employee health and wellness through participation in charity runs and fitness challenges, with over 2.4 million participants in the Dubai Fitness Challenge[165]. Risk Management and Compliance - The company engages with stakeholders to understand their expectations and concerns regarding business development strategies and risk management[103]. - The company has implemented measures to promote environmental and social risk identification within its supply chain management practices[128]. - The company has not reported any significant non-compliance incidents related to environmental protection during the reporting period[110]. - The company has not identified any violations of bribery, extortion, fraud, or money laundering laws during the reporting period[155].

Financial Performance - The total value of new contracts and supplementary contracts for continuing operations was HKD 557,812,000, a decrease of 25.1% compared to HKD 744,758,000 in 2022[4]. - The total amount of contracts on hand for continuing operations was HKD 1,393,992,000, down 8.5% from HKD 1,523,790,000 in 2022[4]. - Revenue from continuing operations was HKD 454,250,000, a decrease of 14.9% from HKD 533,759,000 in 2022[4]. - The annual loss was HKD 19,080,000, compared to a loss of HKD 11,136,000 in 2022[4]. - The loss attributable to the owners of the company was HKD 21,240,000, compared to HKD 18,797,000 in 2022[4]. - Basic and diluted loss per share was HKD 0.0737, compared to HKD 0.0652 in 2022[6]. - The annual gross profit was HKD 58.54 million, down 18.0% from HKD 71.42 million in 2022, with gross margins of 12.9% in 2023 compared to 13.4% in 2022[49]. - The company reported a pre-tax loss of HKD 9.90 million for the year, with costs of services provided at HKD 395.71 million[27]. - The company reported a net loss attributable to shareholders of HKD 21,240,000 for the year ended December 31, 2023, compared to a loss of HKD 18,797,000 in 2022[34]. Assets and Liabilities - The total assets less current liabilities amounted to HKD 432,916,000, down from HKD 543,779,000 in 2022[8]. - Non-current assets totaled HKD 156,707,000, an increase from HKD 121,898,000 in 2022[8]. - Cash and bank balances decreased to HKD 90,101,000 from HKD 160,869,000 in 2022[8]. - Trade receivables decreased to HKD 178,601,000 in 2023 from HKD 213,851,000 in 2022, reflecting a reduction of approximately 16%[36]. - Trade payables increased to HKD 29,015,000 in 2023 from HKD 15,772,000 in 2022, representing an increase of 84%[38]. - As of December 31, 2023, the current ratio was 2.10, down from 2.45 in 2022, reflecting a decrease in contract asset value and an increase in trade payables[55]. - The group has a bank balance and cash totaling HKD 90.10 million as of December 31, 2023, down from HKD 160.87 million in 2022[55]. Revenue Segments - The total revenue for the construction design services segment was HKD 454,250,000, while the BIM services segment generated HKD 100,408,000, leading to a total revenue of HKD 554,658,000[17]. - Revenue from services provided over time amounted to HKD 532,713,000, with HKD 454,250,000 from construction design services and HKD 78,463,000 from BIM services[17]. - External customer revenue from Mainland China decreased to HKD 207.05 million in 2023 from HKD 332.22 million in 2022, representing a decline of approximately 37.7%[23]. - The company recognized government grants of HKD 3.93 million in 2023, down from HKD 8.45 million in 2022[26]. Impairment and Losses - The company reported a net impairment loss of HKD 7,070,000 across financial, contract, and other assets, with HKD 5,595,000 attributed to the construction design services segment and HKD 1,475,000 to the BIM services segment[18]. - The company incurred a net impairment loss of HKD 5.10 million on financial and contract assets, with depreciation and amortization expenses totaling HKD 44.68 million[21]. - The company reported a loss of HKD 994,000 from its share of losses in a joint venture and a profit of HKD 1,010,000 from its share of profits in an associate[18]. - The company’s share of losses from joint ventures and associates totaled HKD 176,000 for the year[21]. Capital Expenditures and Investments - Capital expenditures for the year totaled HKD 4,295,000, with HKD 1,933,000 from the construction design services segment and HKD 2,362,000 from the BIM services segment[18]. - Capital expenditures for the year amounted to HKD 10.89 million, which includes investments in property, plant, and equipment[21]. - The investment in a limited partnership for medical isotopes in China amounts to RMB 25 million, expected to significantly enhance the supply chain for medical isotopes[43]. Corporate Actions and Governance - The company did not propose a final dividend for the year, consistent with the previous year[4]. - The company did not recommend or pay any final dividends for the years ended December 31, 2023, and 2022[35]. - The company has adopted a code of conduct for securities trading, confirming compliance with the standards set forth in the Listing Rules as of December 31, 2023[87]. - The audit committee has reviewed the financial and accounting policies, internal controls, and governance procedures, concluding that the financial statements comply with applicable accounting standards[89]. - The independent auditor has verified that the financial figures in the preliminary announcement align with the draft consolidated financial statements for the year ending December 31, 2023[91]. Future Outlook and Strategy - The company is actively exploring transformation opportunities to adapt to future business models and seek potential investment prospects[40]. - The group aims to leverage opportunities in the Greater Bay Area, focusing on economic growth and innovation, as well as sustainable development projects in smart cities[59][60]. - The group plans to further promote green smart building development in key markets, including mainland China, Hong Kong, and the Middle East and North Africa[57]. Shareholder Information - The annual report for the year ending December 31, 2023, will be sent to shareholders and published on the company's website and the Hong Kong Stock Exchange website[92]. - The annual general meeting is scheduled for June 4, 2024, with related documents to be sent to shareholders in April 2024[93]. - Shareholder registration will be suspended from May 29, 2024, to June 4, 2024, to determine voting rights at the annual general meeting[94].

Financial Performance - The group's revenue for the period was HKD 300,174,000, a decrease of 11.8% from HKD 340,202,000 for the same period last year[9]. - The group reported a loss of HKD 10,933,000 for the period, compared to a loss of HKD 9,931,000 for the same period last year[9]. - Basic and diluted loss per share was HKD 0.049, compared to HKD 0.040 for the same period last year[11]. - The total comprehensive loss for the period was HKD 18,224,000, compared to HKD 18,846,000 for the same period last year[10]. - The company reported a total comprehensive loss of HKD 20,454,000 for the six months ended June 30, 2023, compared to a total comprehensive loss of HKD 18,846,000 in the same period of 2022[16]. - The adjusted loss before tax for the group was HKD 10,934,000, compared to a loss of HKD 11,791,000 for the same period in 2022, indicating a slight improvement[32]. - The group incurred a loss of HKD 14,132,000 for the six months ended June 30, 2023, compared to a loss of HKD 11,596,000 for the same period in 2022[36]. Contract and Revenue Details - The total amount of new contracts signed and supplemented during the period was HKD 259,169,000, a decrease of HKD 182,073,000 or 41.3% compared to HKD 441,242,000 for the same period last year[9]. - The total value of contracts on hand was HKD 1,496,781,000, down HKD 351,836,000 or 19.0% from HKD 1,848,617,000 as of June 30 of the previous year[9]. - Revenue from the Integrated Architectural Design Services segment was HKD 234,974,000, while the BIM Services segment generated HKD 69,168,000[27]. - The revenue from Mainland China was HKD 133,660,000, down from HKD 188,203,000, indicating a significant decline in this market[30]. - The integrated architectural design services segment contributed revenue of HKD 234.97 million, a decrease of 14.4%, with new contracts signed valued at HKD 196.15 million, down 46.1% year-on-year[62]. - The BIM services segment achieved revenue of HKD 69.17 million, an increase of 2.9% from HKD 67.19 million in 2022, despite a decrease in new contract value by 18.7%[65]. Asset and Liability Changes - Non-current assets decreased to HKD 99,214,000 from HKD 121,898,000 as of December 31 of the previous year[13]. - Current assets totaled HKD 691,790,000, down from HKD 712,305,000 as of December 31 of the previous year[13]. - Current liabilities decreased to HKD 274,713,000 from HKD 290,424,000 as of December 31 of the previous year[13]. - As of June 30, 2023, the total non-current liabilities decreased to HKD 22,227,000 from HKD 38,157,000 as of December 31, 2022, representing a reduction of approximately 42%[14]. - The net assets as of June 30, 2023, were HKD 494,064,000, down from HKD 505,622,000 at the end of 2022, indicating a decline of about 2.1%[14]. - The total equity attributable to the owners of the company decreased to HKD 418,269,000 from HKD 438,182,000, reflecting a decrease of approximately 4.5%[14]. Cash Flow and Financing - The operating cash flow before changes in working capital for the six months ended June 30, 2023, was HKD 13,168,000, down from HKD 21,209,000 in the same period of 2022, a decline of about 38%[19]. - The net cash used in operating activities for the six months ended June 30, 2023, was HKD 27,218,000, compared to HKD 35,840,000 in the previous year, showing an improvement of approximately 24%[19]. - The cash and cash equivalents at the end of June 30, 2023, were HKD 116,922,000, down from HKD 143,418,000 at the end of June 30, 2022, a decrease of about 18.5%[19]. - New bank borrowings amounted to HKD 10,000,000 in the first half of 2023, down from HKD 42,000,000 in the same period of 2022, indicating a decrease of approximately 76%[19]. - The group borrowed HKD 10,000,000 in bank loans and repaid HKD 13,622,000 during the six months ended June 30, 2023[13]. Employee and Management Information - The total remuneration for directors and key management personnel was HKD 18,918,000 for the six months ended June 30, 2023, slightly down from HKD 18,923,000 in the same period last year[52]. - The group employed approximately 1,000 full-time employees as of June 30, 2023, a decrease from approximately 1,250 employees as of June 30, 2022[81]. Corporate Governance and Shareholder Information - The company has adopted a code of conduct for securities trading by directors, confirming compliance with the standard code as of June 30, 2023[97]. - The company has adhered to the corporate governance code as per the listing rules during the six months ending June 30, 2023[99]. - The board has decided not to declare an interim dividend for the six months ending June 30, 2023, consistent with the previous year[100]. - Beijing Holdings Group Limited holds 27.57% of the company's issued share capital with 79,473,780 shares[88]. - Rainbow Path International Limited owns 21.57% of the company with 62,198,000 shares[88]. - The total number of share options granted under the share option scheme is 52,300,000, representing approximately 18.14% of the total issued shares as of June 30, 2023[92]. Strategic Outlook - The company plans to leverage opportunities in the Greater Bay Area and enhance digital construction and green development initiatives[72]. - The company aims to modernize work practices in a more environmentally friendly world, focusing on digital transformation as a priority[72]. - The group remains optimistic about achieving the next phase of growth despite the uncertain environment[73]. - The group will continue to explore various strategic options to maximize future investment value in Hong Kong Interconnect[73]. - The group maintains a prudent and flexible financial policy to deliver long-term value returns to shareholders[73].

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，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 C CHENG HOLDINGS LIMITED 思 城 控 股 有 限 公司 （於開曼群島註冊成立的有限公司） 1486 （股份代號： ） 截至二零二三年六月三十日止六個月的中期業績公告 業務摘要 259,169,000 － 本集團期內新簽及補充合約總額為 港元（截至二零二二年六月 441,242,000 182,073,000 41.3% 三十日止六個月： 港元），減少 港元或 ；及 1,496,781,000 － 在手合約總額為 港元（截至二零二二年六月三十日止六個月： 1,848,617,000 351,836,000 19.0% 港元），減少 港元或 。 財務摘要 300,174,000 － 本集團的收益為 港元（截至二零二二年六月三十日止六個月： 340,202,000 11.8% 港元），較上一財政年度同期減少 ； 10,933,000 － 本集團期內虧損為 港元（截至二零二二年六月三十日止 ...

Financial Performance - The company's revenue decreased compared to 2021 due to significant adverse factors in the mainland real estate policies and geopolitical uncertainties [13]. - The group's revenue for the year was HKD 682,667,000, a decrease of 20.8% compared to HKD 861,990,000 in 2021 [47]. - Revenue from mainland China decreased by HKD 199,040,000, representing a decline of 34.9% due to adverse market conditions and the depreciation of the RMB [47]. - The comprehensive architectural design segment contributed HKD 533,759,000 in revenue, down 27.4% from the previous year [44]. - The number of new contracts signed was 94, with a total value of approximately HKD 744,758,000, an 18.7% decrease from HKD 915,971,000 in 2021 [44]. - The BIM services segment recorded revenue of HKD 153,500,000, an increase of 12.8% from HKD 136,094,000 in 2021 [45]. - The backlog of contracts as of December 31, 2022, was approximately HKD 1,523,790,000, a decrease of 7.0% from HKD 1,638,905,000 in 2021 [44]. - The gross profit for the year was HKD 108,427,000, a decrease of 33.4% compared to the previous year [49]. - The company reported a loss of HKD 11,136,000 for the year 2022, compared to a profit of HKD 4,505,000 in 2021 [51]. Market Outlook and Strategy - The company anticipates a gradual market recovery in 2023 following the reopening of mainland China in the last quarter of 2022 [16]. - The company is focused on enhancing the stability of its investment returns and improving resilience against market volatility through its investment management subsidiary [16]. - The company is optimistic about future growth despite market challenges, aiming to invest in forward-looking projects [56]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next three years [90]. - A strategic acquisition of a local design firm is anticipated to enhance the company's capabilities and is expected to close by Q3 2023 [90]. Technological Development - The company has been actively seeking potential startups to explore and participate in the digital transformation of the construction industry, which has been accelerated by government policies in Hong Kong and mainland China [15]. - The digital construction market is rapidly expanding, with the company developing its proprietary SaaS product JARVIS to facilitate the digitalization of the entire construction process [33]. - The company is expanding its technological development, particularly in smart home technology in the Middle East and North Africa [19]. - The JARVIS Eagle Eye suite was nominated for the United Nations World Summit Award, recognized as the best digital innovation product in the "Smart Home and Urbanization" category in China [34]. Sustainability and Environmental Initiatives - The company aims to integrate sustainable development principles into its practices, focusing on low-energy or net-zero energy buildings [27]. - The company emphasizes the importance of resilient design to meet China's carbon peak by 2030 and carbon neutrality by 2060 [27]. - The company has implemented the ISO 14001 environmental management system and has been certified since 2018 [113]. - The company actively participates in green initiatives and supports the Hong Kong Green Building Council [113]. - The company aims to minimize waste and encourages employees to reuse, reduce, and recycle certified printed materials [115]. - The company promotes energy-saving measures and has adopted energy-efficient equipment and LED lighting [117]. Employee and Corporate Governance - The company employed approximately 1,130 full-time employees as of December 31, 2022, a decrease from about 1,450 in the previous year [79]. - The overall employee turnover rate for 2022 was relatively low, with 4% for senior management, 22% for middle management, and 74% for general management [136]. - The group emphasizes a "people-oriented" approach, providing competitive compensation and a safe working environment [142]. - The company is committed to employee development, workplace safety, and sustainable growth strategies [181]. - The board consists of nine directors, including six executive directors and three independent non-executive directors [185]. Awards and Recognition - The company received at least 50 international awards and domestic honors, confirming its capability to handle diverse projects across different cultures [17]. - The company ranked 29th in the World Architecture 100 list, maintaining its position among the top architectural firms globally [17]. - LWK + PARTNER was ranked among the top 100 global architectural firms by World Architecture 100 in 2022 and was listed as one of the top ten architectural firms in Hong Kong by BCI Asia [105]. Community Engagement - The company actively supports community empowerment initiatives, including distributing meals and essentials to the underprivileged, with over 20 employees volunteering in outreach services [165]. - The company participated in various educational initiatives, providing practical career experiences for students aged 16 and above through internships and work simulations [168].

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，並明確表示概不就因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 C CHENG HOLDINGS LIMITED 思 城 控 股 有 限 公司 （於開曼群島註冊成立的有限公司） 1486 （股份代號： ） 截至二零二二年十二月三十一日止年度的 全年業績公告 業務摘要 874,182,000 1,077,446,000 — 年內新簽及補充合約價值總額為 港元（二零二一年： 18.9% 港元），減少 ；及 1,703,603,000 1,823,032,000 — 在手合約總額為 港元（二零二一年： 港元），減少 6.6% 。 財務摘要 682,667,000 861,990,000 20.8% — 本集團的收益為 港元（二零二一年： 港元），減少 ； 11,136,000 4,505,000 — 本集團年內虧損為 港元（二零二一年：溢利 港元）； ...

Financial Performance - The group's revenue for the period was HKD 340,202,000, a decrease of 20.0% from HKD 425,158,000 for the same period last year[8]. - The group reported a loss of HKD 9,931,000 for the period, compared to a loss of HKD 401,000 for the same period last year[8]. - Basic and diluted loss per share was HKD 4.02, compared to HKD 1.45 and HKD 1.44 for the same period last year, respectively[14]. - The total comprehensive loss for the period was HKD 18,846,000, compared to a total comprehensive income of HKD 2,564,000 for the same period last year[10]. - The net loss attributable to the owners of the company was HKD 11,596,000, compared to HKD 4,174,000 for the same period last year[13]. - The adjusted profit before tax for the group was a loss of HKD 11,791,000, reflecting a decline compared to the previous period[42]. - The company reported a gross profit of HKD 51,706,000 for the six months ended June 30, 2022, down 39.4% from the previous year's HKD 85,500,000, resulting in a gross margin decline from 20.1% to 15.2%[116]. Contract and Revenue Details - The total amount of new contracts signed and supplemented during the period was HKD 441,242,000, a decrease of HKD 82,742,000 or 15.8% compared to HKD 523,984,000 for the same period last year[8]. - The total amount of contracts on hand increased to HKD 1,848,617,000, up HKD 47,608,000 or 2.6% from HKD 1,801,009,000 as of June 30, 2021[8]. - For the six months ended June 30, 2022, total customer contract revenue was HKD 340,202,000, with HKD 274,482,000 from integrated architectural design services and HKD 65,720,000 from BIM services[42]. - The revenue from IT product sales was HKD 10,602,000, contributing to the total revenue of HKD 341,674,000 after inter-segment eliminations[42]. - Revenue from Mainland China for the six months ended June 30, 2022, was HKD 188,203,000, a decrease of 33.4% compared to HKD 282,851,000 in the same period of 2021[48]. - Revenue from Hong Kong increased to HKD 135,654,000, up 8.3% from HKD 124,998,000 year-on-year[48]. - The previous six-month period (ended June 30, 2021) showed total customer contract revenue of HKD 425,158,000, indicating a decrease in revenue year-over-year[45]. Expenses and Costs - The group's administrative expenses decreased to HKD 63,478,000 from HKD 84,419,000 in the previous year[10]. - Cost of services provided decreased to HKD 279,591,000 from HKD 332,371,000, reflecting a reduction of 15.8%[51]. - Employee costs, including salaries and benefits, were HKD 247,201,000, down 11.8% from HKD 280,316,000 in the prior year[51]. - The company has reduced service costs to HKD 288,496,000, a decrease of 15.1% from HKD 339,894,000 in the same period of 2021, primarily due to business contraction in mainland China[115]. Assets and Liabilities - Total non-current assets decreased from HKD 174,994 million to HKD 150,461 million, a decline of approximately 14%[16]. - Current assets decreased from HKD 728,530 million to HKD 686,128 million, a reduction of about 6%[16]. - Total current liabilities increased from HKD 305,546 million to HKD 271,242 million, a decrease of approximately 11%[16]. - Net current assets decreased from HKD 422,984 million to HKD 414,886 million, a decline of around 2%[16]. - Total equity decreased from HKD 522,052 million to HKD 506,610 million, a reduction of about 3%[18]. - The group's current ratio as of June 30, 2022, is 2.53, an increase from 2.38 on December 31, 2021, primarily due to reduced other payables and accrued expenses[123]. Cash Flow and Financing - Operating cash flow before changes in working capital was HKD 21,209 million, down from HKD 43,010 million, a decrease of approximately 51%[26]. - Cash and cash equivalents at the end of the period were HKD 143,418 million, down from HKD 198,128 million, a decline of about 28%[27]. - Investment activities resulted in a net cash outflow of HKD 5,709 million, compared to an inflow of HKD 12,726 million in the previous period[29]. - New bank borrowings amounted to HKD 42,000 million, while repayments were HKD 34,530 million, indicating a net increase in financing[29]. - The group has unutilized general bank financing of approximately HKD 88 million as of June 30, 2022, compared to HKD 58 million on December 31, 2021[124]. Shareholder and Governance Information - Major shareholders include Beijing Holdings Group Limited with a 27.57% stake, and Rainbow Path International Limited with a 21.57% stake[133]. - The company has adopted a share option scheme to incentivize and retain talented employees, with a total of 3,500,000 options granted to Liang Pengcheng at an exercise price of HKD 2.49[141]. - The total number of shares issued is 288,000,000, with significant stakes held by major shareholders[133]. - The company has complied with the corporate governance code as per the listing rules during the six months ending June 30, 2022[151]. - The board has decided not to declare an interim dividend for the six months ending June 30, 2022, consistent with the previous year[151]. Operational Insights - The company continues to focus on providing comprehensive architectural design services and BIM services, with an emphasis on technology consulting and software development[35]. - The group anticipates continued demand for carbon neutrality projects across the country, leveraging expertise in energy-efficient design and digital transformation[121]. - The group remains cautiously optimistic about the real estate market in mainland China and Hong Kong, driven by the development of the Northern Metropolis area[121]. - The group is focused on capturing growth opportunities in the transition to net-zero emissions, enhancing its competitive edge in integrated service offerings[121].

Financial Performance - The company reported a revenue growth of 20.2% for the year 2021, with new contracts increasing by 9.5%, amounting to approximately HKD 1 billion[15]. - The group achieved a revenue of HKD 735,177,000 from integrated architectural design services, representing a growth of 14.5%[44]. - The group's revenue for the year was HKD 861,990,000, an increase of 20.2% compared to HKD 717,172,000 in the previous year[49]. - The annual profit for 2021 was HKD 4,505,000, which included one-time stock option expenses; excluding this adjustment, the profit was HKD 10,684,000, down from HKD 14,243,000 in 2020[47]. - The number of new contracts signed from external clients reached 306, with a total value of approximately HKD 915,971,000, an increase of 7.5% compared to HKD 852,081,000 in 2020[44]. - The backlog of contracts as of December 31, 2021, amounted to approximately HKD 1,638,905,000, up 3.4% from HKD 1,584,628,000 in 2020[44]. - The BIM division reported revenue of HKD 136,094,000, a significant increase of 63.1% from HKD 83,456,000 in 2020[45]. - New contracts signed in the BIM division totaled 193, with a combined value of approximately HKD 161,475,000, up 22.7% from HKD 131,576,000 in the previous year[45]. - The backlog of contracts in the BIM division as of December 31, 2021, was approximately HKD 184,127,000, an increase of 23.8% from HKD 148,776,000 in 2020[45]. Strategic Initiatives - The company has maintained a strategic approach to expansion, focusing on long-term partnerships with large listed developers[16]. - The company plans to focus on profitability as a key component of its overall corporate strategy in the coming years, despite challenging market conditions[22]. - The company aims to expand its influence in the Greater Bay Area, with significant projects in key regions such as Qianhai and the establishment of a new headquarters in Guangzhou[32]. - The company is committed to driving data-driven smart city solutions, moving towards a fully digital, BIM-based workflow from planning to operation[30]. - The company has made strategic long-term investments in sectors such as cloud services, IoT, 5G, data centers, AI, and semiconductors through its subsidiary Maida Investment[19]. - The company aims to explore growth opportunities in smart city businesses, aligning with government initiatives in mainland China and Hong Kong[58]. - The company is expanding the application of AI and IoT in building design to optimize energy consumption and reduce carbon emissions[53]. - The company is actively pursuing opportunities for market expansion in the Greater Bay Area, capitalizing on regional growth trends[96]. Awards and Recognition - The company has received over 130 international and local awards in 2021, ranking 32nd among the world's top architectural firms according to a well-known report[20]. - The group ranked 32nd in the 2022 World Architecture 100 report and was 4th in the global retail market[38]. - The group received over 130 international and local awards during the year, highlighting its outstanding performance and design excellence[38]. - The company has been recognized as one of the top 100 architectural firms globally for four consecutive years since 2018, and was again named one of the "Top 10 Architects in Hong Kong" in 2021, marking the tenth time receiving this honor[107]. Operational Challenges - The company faced challenges due to border restrictions in mainland China and Hong Kong, impacting operations and client financing[15]. - The company operates approximately 70% of its business in China and the Greater Bay Area, which is currently facing geopolitical challenges[15]. - The company continues to enhance its competitive edge through ongoing innovation and research in low-carbon and nature-friendly urban development[29]. - The company faces intense competition in the architectural design services sector, with local and international providers increasing market pressure[62]. Employee and Management - The company relies heavily on professional staff, employing approximately 1,450 full-time employees as of December 31, 2021, an increase from about 1,300 in 2020[81]. - The company has implemented employee retention strategies, including training and development programs, to maintain its professional talent[65]. - The company has a strong management team with over 24 years of experience in the construction service industry, led by Mr. Lu Jian-neng, who oversees operations in Hong Kong and the Greater Bay Area[96]. - The CFO, Ms. Yu Wing-sze, has over 20 years of accounting and auditing experience, ensuring robust financial management for the company[99]. - The employee turnover rate for the management level is relatively low, indicating high employee satisfaction and engagement[142]. - The company has maintained a workforce distribution of 70% male and 30% female, with 94% of employees being general staff[143]. Environmental and Social Responsibility - The company emphasizes the importance of environmental, social, and governance (ESG) practices, which are managed by the board to reflect the company's core values[108]. - The company aims to achieve carbon neutrality through collaboration with clients and business partners, focusing on zero-energy building designs[126]. - The company has implemented energy-saving measures, including the use of energy-efficient equipment and LED lighting, to reduce electricity consumption[128]. - The company has committed to good corporate governance practices, ensuring responsible decision-making and transparency in shareholder communications[181]. - The company has received the "Caring Company" honor for 11 consecutive years, reflecting its commitment to community support[167]. - The company continues to provide opportunities for local students through virtual internships and career planning activities[169]. Governance and Compliance - The board of directors consists of nine members, including six executive directors and three independent non-executive directors, with a commitment to meet at least four times a year[185]. - The company has adopted a standard code of conduct for securities trading, ensuring compliance with regulations and maintaining transparency among directors[182]. - The audit committee held three meetings in the year ending December 31, 2021, with all members attending all meetings[193]. - The company has established a board diversity policy to enhance performance quality, focusing on various aspects including gender and cultural background[197]. - The independent non-executive directors have a specific term and must confirm their independence annually[189].