Financial Performance - The total value of new contracts signed and supplemented during the period was HKD 523,984,000, an increase of HKD 85,668,000 or 19.5% compared to HKD 438,316,000 for the six months ended June 30, 2020[5]. - The total value of contracts on hand reached HKD 1,801,009,000, up HKD 210,654,000 or 13.2% from HKD 1,590,355,000 as of June 30, 2020[5]. - The group's revenue for the period was HKD 425,158,000, representing a 36.8% increase from HKD 310,835,000 for the same period last year[6]. - The net loss for the period was HKD 401,000, a significant improvement from a loss of HKD 8,207,000 in the previous year, resulting in a basic loss per share of 1.45 HKD cents compared to 3.4 HKD cents[6]. - The group reported a total comprehensive income of HKD 2,564,000, recovering from a loss of HKD 11,449,000 in the previous year[8]. - The company incurred a loss of HKD 47,359,000 during the six months ended June 30, 2021, compared to a loss of HKD 47,358,000 in the same period of the previous year[32]. - The company’s revenue for the six months ended June 30, 2021, was HKD 145,580,000, a decrease from HKD 152,013,000 for the same period in 2020[32]. - The company reported a pre-tax loss of HKD 4,174,000 for the first half of 2021, an improvement from a loss of HKD 9,743,000 in the same period of 2020[66]. Cash Flow and Financial Position - The group's cash and bank balances decreased to HKD 157,438,000 from HKD 228,412,000 as of December 31, 2020[21]. - For the six months ended June 30, 2021, the company reported a net cash outflow from operating activities of HKD 75,790,000, compared to an inflow of HKD 2,556,000 for the same period in 2020[32]. - The total cash and cash equivalents at the end of the period were HKD 157,438,000, down from HKD 201,229,000 at the end of June 2020[32]. - The company’s financing activities resulted in a net cash outflow of HKD 9,414,000, compared to an outflow of HKD 35,974,000 in the same period of 2020[32]. - The company’s investment activities generated a net cash inflow of HKD 12,726,000, compared to a net cash outflow of HKD 26,796,000 in the previous year[32]. - The total assets less current liabilities amounted to HKD 592,940,000, up from HKD 572,545,000 as of December 31, 2020[21]. - The company’s reserves increased to HKD 453,375,000 as of June 30, 2021, up from HKD 443,590,000 at the end of 2020[32]. - The capital debt ratio was approximately 14.6% as of June 30, 2021, compared to 12.3% on December 31, 2020[113]. Revenue Segmentation - For the six months ended June 30, 2021, the total revenue was HKD 430.3 million, with the Integrated Architectural Design Services segment contributing HKD 364.9 million and the BIM Services segment contributing HKD 65.4 million[48]. - The total revenue for the same period in 2020 was HKD 313.4 million, indicating a year-on-year increase of approximately 37.3%[51]. - The Integrated Architectural Design Services segment's revenue increased from HKD 281.2 million in 2020 to HKD 364.9 million in 2021, reflecting a growth of approximately 29.7%[51]. - The BIM Services segment's revenue rose from HKD 32.3 million in 2020 to HKD 65.4 million in 2021, marking an increase of approximately 102.5%[51]. - The construction design services segment contributed HKD 364,935,000 in revenue, an increase of 29.8% compared to the previous year[97]. - The BIM services segment achieved revenue of HKD 65,371,000, a significant increase of 102.7% from HKD 32,252,000 in the same period of 2020[98]. Expenses and Costs - The administrative expenses increased to HKD 84,419,000 from HKD 65,280,000, reflecting higher operational costs[6]. - Employee costs increased to HKD 280,316,000, a rise of 28.8% compared to HKD 217,548,000 in the previous year[58]. - The total depreciation of property, plant, and equipment was HKD 30,191,000, compared to HKD 26,424,000 in the previous year, reflecting a 14.5% increase[58]. - The income tax expense for the first half of 2021 was HKD 4,229,000, compared to HKD 2,448,000 in the same period of 2020, indicating a 72.8% increase[62]. Contracts and Backlog - The total backlog of contracts as of June 30, 2021, was approximately HKD 1,644,014,000, a 10.8% increase from HKD 1,484,189,000 in the same period of 2020[97]. - The total value of new contracts signed in the construction design services segment was approximately HKD 457,264,000, up 16.5% from HKD 392,538,000 in the previous year[97]. - The company reported contract assets of HKD 170,803,000 for BIM services as of June 30, 2021, compared to HKD 154,237,000 as of December 31, 2020, reflecting an increase of 10.5%[73]. Share Capital and Dividends - The company did not declare an interim dividend for the period[6]. - The total issued share capital as of June 30, 2021, was HKD 10,000,000, with 1,000,000,000 shares issued[82]. - The company’s issued share capital remained at 2,883,000,000 shares as of June 30, 2021[32]. - The board decided not to declare an interim dividend for the six months ended June 30, 2021, consistent with the previous year[137]. Corporate Governance and Compliance - The board of directors confirmed compliance with the standard code of conduct regarding securities trading for the six months ended June 30, 2021[135]. - The company has adhered to the corporate governance code as per the listing rules during the six months ended June 30, 2021[137]. - An audit committee has been established, consisting of independent non-executive directors, to review and monitor the group's financial reporting procedures and internal controls[137]. Future Outlook and Strategy - The company plans to enhance its digital capabilities and explore vertical expansion in the service chain to create new opportunities and additional revenue sources[107]. - The group aims to leverage its unique advantages in the Guangdong-Hong Kong-Macao Greater Bay Area for future growth opportunities[108]. - The digital business revenue grew over 100% compared to the previous year, with expectations for further contributions to overall business performance[107].

思 城 控 股 有 限 公 司 c cHENG HOLDINGS LIMITED 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 股份代號:1486 2020 年報 III : # 849 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|-------|------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 157 | | 才 & | | | | | 12 EJ | | | Pp | | | | | 中國深圳大運站綜合樞紐 | | | | | | y | | | FSC | | 目錄 目錄 2 公司資料 6 主席報告書 10 管理層討論與分析 26 董事及高級管理層履歷 32 環境、社會及管治報告 52 企業管治報告 ...

Financial Performance - The group's revenue for the period was HKD 310,835,000, a decrease of 2.6% from HKD 319,133,000 in the same period last year[6]. - The loss for the period was HKD 8,207,000, compared to a loss of HKD 8,638,000 for the six months ended June 30, 2019[6]. - Basic and diluted loss per share remained at HKD 0.034, unchanged from the same period last year[6]. - The gross profit for the period was HKD 60,032,000, down from HKD 70,667,000 in the previous year[10]. - Total revenue for the six months ended June 30, 2020, was HKD 310,835,000, a decrease from HKD 319,133,000 in the same period of 2019, representing a decline of approximately 2.5%[44]. - The adjusted loss before tax for the group was HKD 6.840 million, with a segment loss of HKD 2.861 million[40]. - The company reported a pre-tax loss of HKD 217,548,000 for the six months ended June 30, 2020, compared to a pre-tax loss of HKD 208,600,000 in the same period of 2019[47]. - The company recognized impairment losses of HKD 289,000 related to intangible assets for the six months ended June 30, 2020, compared to HKD 19,018,000 in the same period of 2019[49]. - The basic loss per share for the six months ended June 30, 2020, was HKD 0.034, slightly improved from HKD 0.0343 in the same period of 2019[59]. - The company reported a loss of HKD 8,207,000 for the six months ended June 30, 2020, compared to a loss of HKD 8,638,000 in the same period of 2019[103]. Revenue Breakdown - Total revenue for the six months ended June 30, 2020, was HKD 310.835 million, with HKD 281.197 million from integrated architectural design services and HKD 29.638 million from BIM services[40]. - The integrated architectural design services segment generated revenue of HKD 281.197 million, while the BIM services segment contributed HKD 29.638 million[40]. - The company's BIM services generated revenue of HKD 32,252,000, an increase of 4.8% from HKD 30,767,000 in the same period last year, with new contract values rising by 61.7% to HKD 45,778,000[96]. - The integrated architectural design business contributed revenue of HKD 281,197,000, down 4.3% from the previous year, with new contracts signed valued at approximately HKD 392,538,000, a decrease of 4.8% year-on-year[95]. Contract and Asset Management - The total value of new contracts signed and supplemented during the period was HKD 438,316,000, a decrease of 0.6% compared to HKD 440,767,000 for the six months ended June 30, 2019[6]. - The total value of contracts on hand increased by HKD 120,884,000 or 8.2% to HKD 1,590,355,000, compared to HKD 1,469,471,000 for the six months ended June 30, 2019[6]. - The total value of contracts on hand as of June 30, 2020, was approximately HKD 1,484,189,000, an increase of 5.2% from HKD 1,411,007,000 in the previous year[95]. - Contract assets for integrated architectural design services and BIM services increased to HKD 149,007,000 as of June 30, 2020, from HKD 142,910,000 as of December 31, 2019[68]. Cash Flow and Financial Position - The net cash and bank balances decreased to HKD 201,229,000 from HKD 268,193,000 as of December 31, 2019[15]. - The company incurred a net cash outflow from investing activities of HKD 26,796 thousand for the six months ended June 30, 2020, compared to HKD 6,946 thousand in the same period of 2019, reflecting an increase in investment expenditures[26]. - The company reported a decrease in cash and cash equivalents of HKD 65,326 thousand for the six months ended June 30, 2020, compared to a decrease of HKD 17,732 thousand in the same period of 2019[26]. - The total cash and cash equivalents at the end of the reporting period was HKD 201,229 thousand, up from HKD 164,625 thousand at the end of the previous period[25]. - The group's current ratio improved to 2.28 as of June 30, 2020, compared to 2.13 on December 31, 2019, due to a decrease in other payables and accrued expenses by HKD 23,228,000 and repayment of interest-bearing bank loans by HKD 15,309,000[110]. - The group's capital debt ratio was approximately 21.4% as of June 30, 2020, compared to 24.7% on December 31, 2019, indicating a stronger financial position[110]. Operational Challenges - The impact of the COVID-19 pandemic has caused significant disruptions to business activities, with several offices temporarily closed and project delays affecting revenue[99]. - The company plans to leverage its experience in traditional architectural design services to enhance the value of its BIM services, particularly through the newly developed JARVIS platform[98]. - The group is actively assessing the evolving situation of COVID-19 to seize suitable opportunities in the digitalization process within the industry[105]. Corporate Governance and Compliance - The company has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2020, with no impact on the financial position or performance[35]. - The company’s financial reporting policies remain consistent with those applied in the annual financial statements for the year ended December 31, 2019[33]. - The company has complied with the corporate governance code as per the listing rules during the six months ended June 30, 2020[143]. - An audit committee has been established, consisting of independent non-executive directors, to review and monitor the group's financial reporting procedures and internal controls[144]. Employee and Market Strategy - The group employed approximately 1,200 employees as of June 30, 2020, maintaining the same number as of June 30, 2019[113]. - The company plans to continue expanding its market presence and investing in new technologies to enhance its service offerings[31]. - The group plans to leverage unique advantages to capitalize on opportunities in the Greater Bay Area, focusing on comprehensive design solutions and data blueprints for large development projects[106]. - The group anticipates that infrastructure investment in the Greater Bay Area will accelerate post-pandemic, positioning itself to participate in this growth[106]. Shareholder Information - Beijing Holdings Group Limited holds 27.57% of the company's issued ordinary shares, totaling 79,473,780 shares[123]. - Rainbow Path International Limited owns 21.57% of the company with 62,198,000 shares[123]. - The company has adopted a share option scheme to incentivize and retain talented employees, with a total of 64,570,000 options granted, representing approximately 22.4% of the total issued shares as of the report date[137].

思 城 控 股 有 限 公 司 c cHENG HOLDINGS LIMITED 於 開曼群島註冊成立的有限公司 股份代號:1486 2019 年報 中國銀川中海,锐盾 FSC 目錄 2 公司資料 6 主席報告書 10 管理層討論與分析 26 董事及高級管理層履歷 | --- | --- | --- | --- | --- | --- | --- | --- | |-------|--------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | 32 | 環境、社會及管治報告 | | | | | | | | 52 | 企業管治報告 | | | | | | | | 64 | 董事會報告書 | | | | | | | | 76 | 獨立核數師報告 | | | | | | | | 83 | 綜合損益及其他全面收入表 | | | | | | | | 84 | 綜合財務狀況表 | | | | | | | | 86 | 綜合權益變動表 | | | | | | | | 87 | 綜合現金流量表 | ...

Financial Performance - The group's revenue for the period was HKD 319,133,000, representing a growth of 5.7% from HKD 301,963,000 in the same period last year[5]. - The group reported a loss of HKD 8,638,000, compared to a profit of HKD 25,451,000 in the same period last year, a decrease of 59.2%[5]. - Basic loss per share was HKD 3.4 cents, down from earnings of HKD 8.2 cents per share in the same period last year[19]. - The total comprehensive income for the period was a loss of HKD 6,775,000, compared to a gain of HKD 20,060,000 in the same period last year[8]. - The total revenue for the six months ended June 30, 2019, from integrated architectural design services was HKD 238,546,000, while BIM services generated HKD 25,314,000[74]. - The group reported a pre-tax loss of HKD 4,662,000 for the six months ended June 30, 2019[74]. - The gross profit for the period was HKD 70,667,000, a decrease of 18.0% compared to the previous period, with the gross margin dropping from 28.6% to 22.1%[132]. - The pre-tax loss for the six months ended June 30, 2019, was 9,865,000 HKD, compared to a profit of 23,603,000 HKD in the same period of 2018[105]. Contracts and Revenue - The total value of new contracts signed and supplemented during the period was HKD 440,767,000, a decrease of 3.6% compared to HKD 457,367,000 for the six months ended June 30, 2018[5]. - The total value of contracts on hand increased by HKD 172,901,000 or 13.3% to HKD 1,469,471,000 from HKD 1,296,570,000 for the six months ended June 30, 2018[5]. - The total value of contracts on hand as of June 30, 2019, was approximately HKD 1,469,471,000, compared to HKD 1,296,570,000 in the same period of 2018, representing an increase of 13.3%[124]. - The integrated architectural design services contributed revenue of HKD 238,546,000, a decrease of 1.3% from the previous year, with 164 new contracts obtained[125]. - BIM services generated revenue of HKD 25,314,000, an increase of 15.7% from HKD 21,880,000 in the same period of 2018, with 34 new contracts secured[127]. Assets and Liabilities - Non-current assets amounted to HKD 214,043,000, an increase from HKD 137,057,000 as of December 31, 2018[22]. - Current assets totaled HKD 533,061,000, slightly up from HKD 530,979,000 as of December 31, 2018[22]. - The total equity attributable to owners of the company was HKD 412,262,000, down from HKD 421,867,000 as of December 31, 2018[25]. - The company’s total liabilities decreased by HKD 52,326,000 in accounts payable and other payables for the six months ended June 30, 2019, compared to a decrease of HKD 38,018,000 in the previous year[34]. - The group’s total liabilities included current lease liabilities of HKD 35,430,000 and non-current lease liabilities of HKD 52,621,000[63]. Cash Flow and Financing - The operating cash flow before changes in working capital for the six months ended June 30, 2019, was HKD 45,388,000, compared to HKD 39,359,000 for the same period in 2018, representing an increase of approximately 15.2%[34]. - The net cash used in operating activities for the six months ended June 30, 2019, was HKD (28,212,000), an improvement from HKD (48,881,000) in the previous year[34]. - The total cash and cash equivalents at the end of the period were HKD 164,625,000, down from HKD 197,814,000 at the end of June 2018, reflecting a decrease of approximately 16.8%[34]. - The company raised new bank loans amounting to HKD 46,000,000 during the financing activities, compared to HKD 40,000,000 in the same period last year, indicating a 15% increase[34]. - The current ratio as of June 30, 2019, was 2.15, down from 2.48 as of December 31, 2018, mainly due to lease liabilities accounting adjustments of HKD 35,427,000[138]. Employee and Administrative Costs - Total employee costs for the period amounted to 209,533,000 HKD, an increase from 189,865,000 HKD in the previous year, reflecting a rise of approximately 10.4%[97]. - Administrative expenses for the period amounted to HKD 57,317,000, an increase of 6.1% from HKD 54,037,000 in the same period last year, primarily due to increased business development expenses[134]. - The company expanded its professional teams significantly, increasing employee costs, which contributed to the decline in gross margin[132]. Corporate Governance and Compliance - The company has established an audit committee composed of independent non-executive directors to review and monitor financial reporting procedures and internal controls[172]. - As of June 30, 2019, the company has complied with the corporate governance code as stipulated in the listing rules[171]. - All directors confirmed adherence to the standard code of conduct regarding securities trading as of June 30, 2019[170]. - There are no known business interests or conflicts of interest between the directors and the company's operations as of June 30, 2019[169]. Strategic Developments - The company established new offices in Dubai and Singapore, expanding its market presence in the Middle East and Southeast Asia[125]. - The company successfully launched a BIM universal data management platform, predicting a gradual increase in platform business in the future[128]. - The establishment of a joint venture, Dayun Bay Smart City Development (Shenzhen) Co., Ltd., aims to provide comprehensive solutions for smart city construction, focusing on the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative[136]. Changes in Accounting Standards - The company has adopted new Hong Kong Financial Reporting Standards (HKFRS) effective from January 1, 2019, including HKFRS 16 on leases, which replaces HKAS 17[41]. - The application of HKFRS 16 did not have a significant impact on the financial performance and position of the company during the reporting period[42]. - The cumulative effect of initially applying HKFRS 16 is recognized in retained earnings at the date of initial application, with no restatement of comparative information[60].