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思城控股(01486) - 2022 - 年度财报
2023-04-25 08:59
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].
思城控股(01486) - 2022 - 年度业绩
2023-03-29 13:06
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); ...
思城控股(01486) - 2022 - 中期财报
2022-09-14 08:34
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].
思城控股(01486) - 2021 - 年度财报
2022-04-28 08:30
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].
思城控股(01486) - 2021 - 中期财报
2021-09-08 08:44
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(01486) - 2020 - 年度财报
2021-04-29 08:30
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思城控股(01486) - 2020 - 中期财报
2020-09-08 08:33
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(01486) - 2019 - 年度财报
2020-04-21 09:50
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 | ...
思城控股(01486) - 2019 - 中期财报
2019-09-09 09:21
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].