容用102 MESS LESS k 建 龚 建 蔡 控 殷 有 限 公 司 CHINNEY KIN WING HOLDINGS UNITID Volv K 535体育 2019 年 報 地基 CHINNEY KIN WING HOLDINGS LIMITED 建業建榮控股有限公司 * (於百慕達註冊成立之有限公司) 股份代號：1556 @ C th in to copie r and the . . . . . " 值供参考 目錄 | --- | --- | |--------------------------|-------| | | | | | | | 公司資料 2 | | | 股東週年大會通告 4 | | | 主席報告 9 | | | 董事及高級管理人員履歷 | 11 | | 企業管治報告 17 | | | 董事會報告 27 | | | 獨立核數師報告 37 | | | 綜合損益及其他全面收益表 | 43 | | 綜合財務狀況表 44 | | | 綜合權益變動表 46 | | | 綜合現金流量表 47 | | | 財務報表附註 49 | | 公司資料 | --- | --- | |---------- ...

Financial Performance - The company's revenue for the six months ended June 30, 2019, decreased by 2.06% to HKD 518,100,000 compared to the previous period's HKD 528,970,000[11] - The total profit and comprehensive income for the period was HKD 27,350,000, representing a decrease of 11.36% from HKD 30,850,000 in the prior period[11] - Total revenue for the period was HKD 518,100,000, a decrease of 2.06% from HKD 528,970,000 in the same period last year, primarily due to a reduction in the foundation sector's revenue[19] - The group recorded a total gross profit of HKD 124,160,000, down 1.20% from HKD 125,670,000, maintaining a gross margin of approximately 24%[19] - Net profit decreased by 11.36% to HKD 27,350,000 from HKD 30,850,000, attributed to lower gross profit and increased administrative expenses[19] - The pre-tax profit for the period was HKD 34,811,000, compared to HKD 38,220,000 in the previous year, indicating a decrease of approximately 10.5%[89] - The basic earnings attributable to ordinary equity holders for the period were HKD 27,348,000, down from HKD 30,854,000 in the previous year[93] Project and Contract Information - The company completed 2 foundation projects and 13 drilling projects during the reporting period, with contract amounts of approximately HKD 344,000,000 and HKD 10,000,000 respectively[11] - As of June 30, 2019, there were 11 ongoing foundation projects and 39 drilling projects, with contract amounts of approximately HKD 1,901,000,000 and HKD 386,000,000 respectively[11] - The group has secured three large private foundation contracts totaling approximately HKD 1,500,000,000, ensuring revenue for the second half of 2019 and 2020[14] - The company confirmed revenue of HKD 6,708,000 from foundation construction projects during the reporting period[11] - Revenue from external customers in the foundation construction and supporting services segment was HKD 426,377,000, while drilling and site investigation services generated HKD 91,719,000[82] Operational Strategy and Market Focus - The company operates in both public and private sectors for foundation construction and drilling services[11] - The company is focused on expanding its operations in both Hong Kong and overseas markets[11] - The company is actively pursuing new strategies to enhance its market position and operational efficiency[11] - The group plans to explore expansion into offshore exploration, measurement instruments, and field testing services to diversify its business[15] Financial Position and Assets - Cash and bank balances as of June 30, 2019, were HKD 77,650,000, down from HKD 193,660,000 as of December 31, 2018, due to capital expenditures of HKD 17,660,000 for the acquisition of plant and machinery[22] - Total non-current assets amounted to HKD 277,904,000, while current assets totaled HKD 578,551,000, resulting in a total asset value of HKD 856,455,000[32] - The group’s total assets amounted to HKD 856,455,000, with classified assets of HKD 824,349,000[77] - Total liabilities were HKD 434,017,000, with classified liabilities of HKD 397,954,000[77] - The company reported a decrease in cash and cash equivalents to HKD 77,646,000 from HKD 193,661,000, reflecting a net decrease of HKD 116,015,000[43] Administrative and Operational Expenses - Administrative expenses increased by 2.44% to HKD 90,980,000 from HKD 88,820,000, mainly due to higher maintenance costs[19] - The net cash outflow from operating activities was HKD 94,100,000, compared to HKD 46,814,000 in the previous year, representing a significant increase in cash outflow[41] - The company incurred a loss of HKD 15,000 from the sale of property, plant, and equipment, compared to a loss of HKD 824,000 in the previous year[41] Corporate Governance and Compliance - The company confirmed compliance with the corporate governance code throughout the six-month period ending June 30, 2019[126] - The audit committee, consisting of three independent non-executive directors, has been actively reviewing and supervising the group's financial reporting processes[127] Accounting Policies and Financial Reporting - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, with the adoption of new and revised standards effective from January 1, 2019[50] - The adoption of HKFRS 16 has resulted in the recognition of right-of-use assets and lease liabilities for all leases, except for low-value and short-term leases[52] - The financial impact of HKFRS 16 on the group as a lessee includes the application of a single method for recognizing and measuring right-of-use assets and lease liabilities[52] - The group has adopted a modified retrospective approach for the application of HKFRS 16[51] Staff and Management - The group employed 558 staff as of June 30, 2019, focusing on building a professional team in foundation and drilling engineering[25] - Total compensation for key management personnel was HKD 11,491,000 for the six months ended June 30, 2019, up from HKD 8,629,000 in 2018, reflecting a 33.5% increase[117] Risks and Concentration - The group faced concentration risks with the largest and five largest customers accounting for 28% and 66% of total trade receivables, respectively, as of June 30, 2019[99]

Financial Performance - The company reported a revenue of HKD 1.2 billion for the fiscal year ending December 31, 2018, representing a year-on-year increase of 15%[9]. - The net profit for the same period was HKD 300 million, which is a 10% increase compared to the previous year[9]. - The company reported revenue of HKD 1,243,000,000 for the year ended December 31, 2018, an increase from HKD 1,190,000,000 in 2017, representing a growth of approximately 4.5%[32]. - Net profit for the year was HKD 58,000,000, down from HKD 82,000,000 in 2017, indicating a decline of about 29.3%[32]. - The total gross profit for the group was HKD 253,430,000, a decrease of 12.50% from HKD 289,650,000 in 2017, with the overall gross margin declining from 24.33% to 20.39%[96]. - The profit before tax decreased to HKD 69,969,000 in 2018 from HKD 97,228,000 in 2017, reflecting a decrease of approximately 28.0%[158]. - The net profit for the year was HKD 57,636,000, down 29.37% from HKD 81,610,000 in 2017, primarily due to the decline in gross profit[100]. Market Strategy and Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by 2020[9]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[46]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[48]. - A strategic acquisition of a local competitor is in progress, which is projected to increase the company's revenue by 30% in the next fiscal year[9]. - A strategic acquisition of a local competitor is anticipated to enhance operational capabilities and is expected to close by Q3 2024[45]. Research and Development - The company has allocated HKD 50 million for research and development in the upcoming fiscal year, aiming to enhance operational efficiency[9]. - Research and development investments increased by 30%, totaling HKD 150 million, aimed at advancing construction methodologies[43]. - The company plans to invest HKD 50 million in research and development for new drilling technologies over the next fiscal year[48]. Sustainability Initiatives - The company emphasizes its commitment to sustainable practices, aiming for a 40% reduction in carbon emissions by 2025[9]. - The management team emphasized the importance of sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2025[46]. - The management team emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon emissions by 2025[48]. - The company has established an environmental policy aimed at conserving natural resources, with measures taken to save energy and water[134]. Corporate Governance - The company emphasizes its commitment to corporate governance standards, ensuring higher transparency and accountability to protect shareholder interests[59]. - The board of directors consists of five executive directors and three independent non-executive directors, with responsibilities including strategy formulation and performance monitoring[59]. - The company has adhered to the corporate governance code, except for a deviation regarding the frequency of board meetings, which were held twice instead of the required quarterly meetings[62]. - The company has implemented a director and senior management liability insurance to protect individual directors' interests[62]. - The company has established three board committees: audit committee, remuneration committee, and nomination committee, to assist in monitoring senior management functions[59]. Shareholder Engagement - Shareholders have the right to request a special general meeting if they hold at least 10% of the voting rights, and the board must convene the meeting within two months of the request[86]. - Shareholders can propose candidates for the board of directors by submitting written notice to the company, with a deadline of seven days from the date of the notice for the election meeting[86]. - The company has adopted a shareholder communication policy to ensure timely and effective communication with shareholders through various channels, including annual reports and the company website[83]. Financial Position - The company maintained a zero-debt status throughout the reporting year, reflecting a strong financial position despite challenges[32]. - Total assets as of December 31, 2018, were HKD 941,912,000, down from HKD 1,014,202,000 in 2017, reflecting a decrease of about 7.1%[108]. - Total liabilities decreased to HKD 516,822,000 from HKD 589,882,000 in 2017, showing a reduction of approximately 12.4%[108]. - The company's equity attributable to owners was HKD 425,090,000 in 2018, slightly up from HKD 424,320,000 in 2017[162]. Operational Efficiency - The company plans to implement new operational strategies to improve efficiency, targeting a 5% reduction in operational costs[44]. - The company has established partnerships with key industry players to enhance service offerings and expand its client base[45]. - The company aims to implement the "3P Enhancement Plan" to improve project management, production efficiency, and modernize machinery, which is expected to alleviate adverse impacts and enhance shareholder returns[102].