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华营建筑(01582) - 董事会会议通告
2025-03-03 08:30
承董事會命 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倚賴該等內容而引致的任何損失承擔任何責任。. CR Construction Group Holdings Limited 華營建築集團控股有限公司 (股份代號:1582) (於開曼群島註冊成立的有限公司) 董事會會議通告 華營建築集團控股有限公司(「本公司」,連同其附屬公司,統稱「本集團」)董事(「董 事」)會(「董事會」)謹此宣佈,董事會將於二零二五年三月二十日(星期四)舉行會 議,以商討(其中包括)下列事項: 華營建築集團控股有限公司 主席 管滿宇 香港,二零二五年三月三日 於本公告日期,本公司三名執行董事包括管滿宇先生、李嘉賢先生及陳德耀先生, 一名非執行董事為楊昊江先生,以及四名獨立非執行董事包括謝偉俊先生 (立法會 議員)(太平紳士) 、何文堯先生、唐毓麗女士及賴旭輝先生 (太平紳士) 1. 省覽及批准本集團截至二零二四年十二月三十一日止年度的經審核綜合財務 報表(「全年業績」); 2. 省覽及批准將全年業績公告登載於香港聯 ...
华营建筑(01582) - 内幕消息-撤销针对本公司附属公司之清盘呈请
2025-02-17 11:35
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倚賴該等內容而引致的任何損失承擔任何責任。 內幕消息-撤銷針對本公司附屬公司之清盤呈請 本公告乃由華營建築集團控股有限公司(「本公司」)根據香港聯合交易所有限公司 (「聯交所」)證券上市規則(「上市規則」)第13.09條及第13.25條及香港法例第571章 證券及期貨條例第XIVA部內幕消息條文(定義見上市規則)而發出。 謹此提述本公司日期為二零二五年一月二十三日之公告,內容有關分包商針對本 公司附屬公司提交之呈請(「該公告」)。除文義另有所指外,於本公告內所採用之 詞彙與該公告內所界定者具有相同涵義。 本公司欣然宣佈,於二零二五年二月十七日,本公司接獲香港高等法院日期為二 零二五年二月十日之命令,頒令(其中包括)撤銷呈請及取消定於二零二五年三月 二十六日舉行之呈請聆訊。 承董事會命 華營建築集團控股有限公司 主席 管滿宇 香港,二零二五年二月十七日 CR Construction Group Holdings Limited 華營建築集團控股有限 ...
华营建筑(01582) - 有关订立补充租赁协议的须予披露交易
2025-02-17 08:34
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倚賴該等內容而引致的任何損失承擔任何責任。 CR Construction Group Holdings Limited 華營建築集團控股有限公司 (於開曼群島註冊成立的有限公司) (股份代號:1582) 有關訂立 補充租賃協議的 須予披露交易 本公司財務顧問 於二零二五年二月十七日,華營建築(作為承租人)分別與出租人1(作為出租人) 及出租人2(作為出租人)訂立補充租賃協議,以修訂現有租賃協議若干條款。 根據香港財務報告準則第16號,由於訂立補充租賃協議,本集團將於本公司綜 合財務報表中確認收購使用權資產合共約40.64百萬港元,須待本公司核數師最 終審核而定。 根據香港財務報告準則第16號,使用權資產的價值指租賃付款總額的現值加初 始直接成本及租賃估計重置成本。計算租賃付款總額的現值時適用的貼現率相 等於本公司於租賃協議期限內的增量借貸利率。 1 出租人1及出租人2由同一股東最終實益擁有,因此,就計算相關百分比率(定義 見上市規則)而言,訂立補 ...
华营建筑(01582) - 根据上市规则第13.18条发表公告
2025-02-03 09:39
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倚賴該等內容而引致的任何損失承擔任何責任。 於二零二五年一月二十八日,本公司及本公司全資附屬公司華營建築有限公司(作 為借款人)(「借款人」)與一個銀團(作為貸款人)(「貸款人」)訂立融資協議(「融資 協議」)及一系列財務文件,據此,貸款人同意向借款人批出一筆金額最高為 650,000,000港元的貸款(金額可按照所載條款進一步增加),以(其中包括)為現有 債務再融資及╱或應付本集團的一般營運資金需要(「該融資」)。該融資的到期日 為該融資的首次動用日期起計十二(12)個月之日或行使延期選擇權時該融資首次 動用日期起計三十六(36)個月之日。 特定履約責任 根據融資協議,借款人承諾,於該融資的整個有效期內確保: 1 (i) 浙江省建設投資集團股份有限公司(「浙江建投」)於本公司已發行股本中之 實益權益須維持於50%以上(不論直接或間接); (ii) 浙江建投須維持對本公司的管理控制權; CR Construction Group Holdings ...
华营建筑(01582) - 内幕消息 - 对本公司附属公司的清盘呈请
2025-01-23 09:54
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倚賴該等內容而引致的任何損失承擔任何責任。 CR Construction Group Holdings Limited 華營建築集團控股有限公司 (股份代號:1582) (於開曼群島註冊成立的有限公司) 內幕消息 對本公司附屬公司的清盤呈請 主席 管滿宇 香港,二零二五年一月二十三日 本公司董事會(「董事會」)謹此通知本公司股東及潛在投資者,本公司間接全資附 屬公司華營建築有限公司(「華營建築」)於二零二五年一月二十二日收到日期為二 零二五年一月二十日之清盤呈請(「該呈請」),內容有關華營建築就一個香港建築 項目所欠其分包商(「分包商」)之到期未償還款項694,433港元(「未償還款項」)。 董事會欣然宣佈,華營建築與分包商已於二零二五年一月二十二日訂立和解協議, 據此,(i)華營建築須向分包商支付650,000港元,作為未償還款項之全數及最終和 解(「和解款項」);及(ii)分包商於收到華營建築之和解款項後,須立即撤回對華營 建築提出之所有法律 ...
华营建筑(01582) - 自愿性公告 - 业务最新进展
2025-01-22 08:31
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倚賴該等內容而引致的任何損失承擔任何責任。 CR Construction Group Holdings Limited 華營建築集團控股有限公司 (於開曼群島註冊成立的有限公司) (股份代號:1582) 自願性公告 業務最新進展 本公告乃華營建築集團控股有限公司(「本公司」,連同其附屬公司統稱「本集團」) 為向其股東及有意投資者提供本集團的最新業務發展情況而刊發。 本公司股東及有意投資者於買賣本公司證券時務請審慎行事。 承董事會命 華營建築集團控股有限公司 主席 管滿宇 香港,二零二五年一月二十二日 於本公告日期,本公司三名執行董事包括管滿宇先生、李嘉賢先生及陳德耀先生, 一名非執行董事為楊昊江先生,以及四名獨立非執行董事包括謝偉俊先生(立法 會議員)(太平紳士)、何文堯先生、唐毓麗女士及賴旭輝先生(太平紳士)。 本公司欣然宣佈,本公司的間接全資附屬公司華營建築有限公司已簽立一份中標 通知書,涉及新界將軍澳公營房屋重建項目的主要合約,合約金額約為 ...
华营建筑(01582) - 自愿性公告 - 董事增持本公司股份
2025-01-16 08:42
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倚賴該等內容而引致的任何損失承擔任何責任。 CR Construction Group Holdings Limited 本公告乃由華營建築集團控股有限公司(「本公司」,連同其附屬公司統稱「本集團」) 自願作出。 1 本公司股東及有意投資者於買賣本公司證券時務請審慎行事。 承董事會命 華營建築集團控股有限公司 主席 本公司董事會(「董事會」)獲本公司執行董事兼主席管滿宇先生(「管先生」)通知, 於二零二五年一月十六日,管先生於公開市場交易購買合共500,000股本公司普通 股(「股份」),平均價格為每股股份約港幣0.479元,佔本公司已發行股份約0.1%。 緊隨購買後,管先生擁有權益合共3,500,000股股份。於本公告日期,佔本公司全 部已發行股本0.7%。 據管先生告知,彼對本集團整體發展前景及增長潛力具有信心。在符合適用的法 律及監管要求下,管先生不排除會在適當時候進一步增持本公司股份。 華營建築集團控股有限公司 (股份代號:1582) (於 ...
华营建筑(01582) - 行政总裁变动
2024-12-31 08:36
華營建築集團控股有限公司 (於開曼群島註冊成立的有限公司) 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倚賴該等內容而引致的任何損失承擔任何責任。 CR Construction Group Holdings Limited (股份代號:1582) 行政總裁變動 董事會謹此宣佈李嘉賢先生已辭任行政總裁,自二零二五年一月一日起生效。 潘樹杰先生獲委任為行政總裁以接替李嘉賢先生,自二零二五年一月一日起生效。 行政總裁辭任 華營建築集團控股有限公司(「本公司」,連同其附屬公司統稱「本集團」)董事(「董 事」)會(「董事會」)謹此宣佈,由於本集團內職務之重新調配,李嘉賢先生(「李先 生」)已辭任本公司行政總裁(「行政總裁」),自二零二五年一月一日起生效。李先 生將繼續擔任董事會之執行董事。 李先生已確認其與董事會並無任何意見分歧,亦無有關其辭任的事宜須提請本公 司股東(「股東」)及香港聯合交易所有限公司(「聯交所」)垂注。 董事會謹藉此機會對李先生在其行政總裁任期內作出之重大貢獻致以由衷感謝。 1 ...
华营建筑(01582) - 2024 - 中期财报
2024-09-09 14:57
Corporate Information [Corporate Structure and Key Personnel](index=3&type=section&id=Corporate%20Information) This section details CR Construction Group Holdings Limited's corporate structure, including board and committee compositions, key advisors, and notes the resignation of two non-executive directors during the period - The company's Board of Directors comprises executive, non-executive, and independent non-executive directors, with independent non-executive directors chairing the Audit, Remuneration, and Nomination Committees, aligning with corporate governance standards[3](index=3&type=chunk)[4](index=4&type=chunk) - Non-executive directors Ms. Ding Shaojian and Mr. Fan Jingbo resigned on June 11, 2024[3](index=3&type=chunk) Chairman's Statement [Chairman's Statement](index=6&type=section&id=Chairman%27s%20Statement) The Chairman's Statement outlines the Group's H1 2024 performance, business review, and future outlook, emphasizing resilient results despite market challenges, new project acquisitions, and significant investment in technological innovation H1 2024 Performance Overview | Indicator | Amount/Quantity | | :--- | :--- | | **Total Revenue** | Approx. 2,773.2 Million HKD | | **Profit Attributable to Owners of the Company** | Approx. 35.8 Million HKD | | **New Construction Project Wins** | 9 projects, total contract value approx. 4.1 Billion HKD | | **Environmental Business Projects** | 3 contracts (approx. 6.9 Million HKD), 19 service concession arrangements | - The Group actively implemented measures such as innovation, resource optimization, cost reduction, and efficiency improvement to sustain healthy business growth amidst industry challenges[8](index=8&type=chunk)[11](index=11&type=chunk) - The company prioritizes technological innovation, successfully developing the "4S Smart Site Safety System" with ISO 27001 certification and modular bio-disk equipment for rural wastewater treatment, enhancing engineering efficiency and safety[13](index=13&type=chunk)[14](index=14&type=chunk)[15](index=15&type=chunk) - The Group's future strategy focuses on four key areas: increasing talent development investment, pursuing diversified growth and technological innovation, expanding domestic and international market presence, and aligning with government development policies to explore public and environmental projects[20](index=20&type=chunk) Financial and Operational Data Highlights [Financial and Operational Data Highlights](index=11&type=section&id=Financial%20and%20Operational%20Data%20Highlights) This section summarizes the Group's key financial data for the six months ended June 30, 2024, noting a slight revenue decrease, significant gross profit increase, reduced profit attributable to owners, and the declaration of an interim dividend H1 2024 Financial Summary (Year-on-Year) | Indicator | H1 2024 (Million HKD) | H1 2023 (Million HKD) | Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | 2,773.2 | 2,832.1 | -2.1% | | **Total Gross Profit** | 188.1 | 150.5 | +25.0% | | **Profit Attributable to Owners of the Company** | 35.8 | 45.5 | -21.3% | | **Interim Dividend (Per Share)** | 1.5 HK cents | 1.5 HK cents | Unchanged | Management Discussion and Analysis [Business Review](index=12&type=section&id=Business%20Review) The Group operates in two segments: construction, a leading contractor in Hong Kong, Malaysia, and the UK with 47 ongoing projects totaling HKD 28.5 billion; and environmental, focused on wastewater treatment in mainland China, which secured its first project outside Zhejiang and achieved "Specialized, Refined, and New" SME recognition Construction Business Project Overview (As of June 30, 2024) | Indicator | Quantity/Amount | | :--- | :--- | | **Projects on Hand** | 47 projects | | **Original Contract Value of Projects on Hand** | Approx. 28.5 Billion HKD | | **New Projects Awarded During the Period** | 9 projects | | **Original Contract Value of New Projects Awarded** | Approx. 4.1 Billion HKD | | **Projects Completed During the Period** | 6 projects | | **Original Contract Value of Completed Projects** | Approx. 3.1 Billion HKD | - Zhejiang Construction Environmental Protection, an environmental business subsidiary, secured a rural wastewater treatment project in Kunshan, Jiangsu Province, marking its first expansion outside Zhejiang Province[26](index=26&type=chunk)[27](index=27&type=chunk) - Zhejiang Construction Environmental Protection was recognized as a 2024 Zhejiang Provincial "Specialized, Refined, and New" SME, demonstrating its leading position in technology, market, quality, and efficiency[26](index=26&type=chunk)[27](index=27&type=chunk) [The Prospects](index=14&type=section&id=The%20Prospects) For H2 2024, the Group anticipates stable Hong Kong economic growth and positive impacts from relaxed compulsory sale thresholds, with imported labor potentially easing cost pressures; it will continue R&D investment (HKD 11.6 million in H1) and seek new construction and environmental opportunities globally - Subsequent to the reporting period, the Group was awarded one new construction project with an original contract value of approximately **HKD 2.1 billion**[28](index=28&type=chunk) - The Group's total R&D expenditure during the reporting period was approximately **HKD 11.6 million**, primarily invested in its proprietary "4S Smart Site Safety System" and integrated rural domestic wastewater treatment equipment[28](index=28&type=chunk)[32](index=32&type=chunk) - The government's "Land (Compulsory Sale for Redevelopment) (Amendment) Bill" is expected to lower compulsory sale thresholds, facilitating large-scale redevelopment projects and positively impacting the Group's business[33](index=33&type=chunk)[35](index=35&type=chunk) [Principal Risks and Uncertainties](index=16&type=section&id=Principal%20Risks%20and%20Uncertainties) The Group faces principal business risks from project non-recurrence, intense bidding, license dependency, cost overruns, and safety failures, alongside industry and market risks from high competition and macroeconomic fluctuations in its core markets including Hong Kong, Malaysia, the UK, and mainland China - Business risks include the Group's revenue primarily deriving from non-recurring projects obtained through competitive bidding with no guaranteed success rate, reliance on various licenses for operations, and potential discrepancies between estimated and actual costs in tender pricing[36](index=36&type=chunk)[38](index=38&type=chunk) - Industry and market risks stem from intense competition within the construction sector and the Group's susceptibility to economic conditions in its key markets, including Hong Kong, Malaysia, the UK, and mainland China[37](index=37&type=chunk)[39](index=39&type=chunk) [Financial Review](index=17&type=section&id=Financial%20Review) In H1 2024, the Group's total revenue decreased by 2.1% to HKD 2.773 billion, primarily due to a 40.5% drop in environmental business revenue; however, overall gross profit increased by 25% to HKD 188 million, with margin improving to 6.8%, though net profit declined by 21.3% to HKD 36.2 million due to higher administrative expenses, finance costs, and a HKD 17.7 million expected credit loss provision Revenue Performance by Business Segment (H1 2024 vs H1 2023) | Business Segment | H1 2024 Revenue (Million HKD) | H1 2023 Revenue (Million HKD) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Building Construction Works | 2,414.3 | 2,455.9 | -1.7% | | RMAA Works | 290.6 | 261.4 | +11.2% | | Environmental Business | 68.3 | 114.8 | -40.5% | | **Total** | **2,773.2** | **2,832.1** | **-2.1%** | Gross Profit and Gross Margin Performance by Business Segment (H1 2024 vs H1 2023) | Business Segment | H1 2024 Gross Profit (Million HKD) | H1 2024 Gross Margin | H1 2023 Gross Profit (Million HKD) | H1 2023 Gross Margin | | :--- | :--- | :--- | :--- | :--- | | Building Construction Works | 126.7 | 5.2% | 130.6 | 5.3% | | RMAA Works | 43.2 | 14.9% | -1.4 | -0.5% | | Environmental Business | 18.2 | 26.6% | 21.3 | 18.5% | | **Total** | **188.1** | **6.8%** | **150.5** | **5.3%** | - Net other operating expenses shifted from an income of **HKD 2.1 million** in the prior period to an expense of **HKD 16.9 million** this period, primarily due to a **HKD 17.7 million** provision for expected credit losses on receivables under HKFRS 9[54](index=54&type=chunk)[58](index=58&type=chunk) - Finance costs increased by **HKD 10.6 million** year-on-year to **HKD 29.7 million**, mainly driven by rising HIBOR (Hong Kong Interbank Offered Rate)[59](index=59&type=chunk) - The Group's net profit decreased by **21.3%** year-on-year, from **HKD 46.0 million** to **HKD 36.2 million**[59](index=59&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=22&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) The Group maintained robust liquidity during the reporting period, with its gearing ratio significantly decreasing to **29.2%** as of June 30, 2024, cash and cash equivalents substantially increasing to **HKD 428 million**, and net current assets rising to **HKD 411 million**, while its capital structure remained largely unchanged since listing Key Financial Position Indicators (As of June 30, 2024) | Indicator | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Gearing Ratio** | 29.2% | 42.3% | | **Cash and Cash Equivalents** | 427.6 Million HKD | 236.0 Million HKD | | **Net Current Assets** | 411.4 Million HKD | 374.5 Million HKD | | **Interest-bearing Bank Borrowings** | 493.5 Million HKD | 415.6 Million HKD | - The gearing ratio is calculated as net debt divided by (equity attributable to owners of the company + net debt), with its decrease indicating an improvement in the Group's financial leverage[64](index=64&type=chunk) Corporate Governance/Other Information [Corporate Governance and Compliance](index=24&type=section&id=Corporate%20Governance%20and%20Compliance) The Group maintains high corporate governance standards, complying with all applicable Code provisions during the period, with the temporary exception of board gender diversity due to a non-executive director's resignation, which the company plans to rectify by August 31, 2024, and all directors adhered to securities dealing standards - Due to the resignation of Ms. Ding Shaojian as a non-executive director on June 11, 2024, the company's Board of Directors temporarily does not meet the gender diversity requirements under Listing Rule 13.92[67](index=67&type=chunk)[70](index=70&type=chunk) - The company plans to appoint Ms. Tang Yuk Lai as an independent non-executive director by August 31, 2024, to regain compliance with the Listing Rules[67](index=67&type=chunk)[70](index=70&type=chunk) - The company's Audit Committee has reviewed the unaudited interim condensed consolidated financial information for the six months ended June 30, 2024[73](index=73&type=chunk)[75](index=75&type=chunk) [Directors' and Substantial Shareholders' Interests](index=26&type=section&id=Directors%27%20and%20Substantial%20Shareholders%27%20Interests) This section discloses the interests of the company's directors, chief executive, and substantial shareholders in the company's shares as of June 30, 2024, noting Chairman Mr. Guan Manyu holds **0.50%**, and the controlling shareholder, CR Construction Investment Limited, holds **72.23%**, ultimately controlled by Zhejiang Provincial State-owned Capital Operation Co., Ltd Directors' Shareholdings (As of June 30, 2024) | Director Name | Capacity | Number of Shares Held | Approximate Percentage of Shareholding (%) | | :--- | :--- | :--- | :--- | | Mr. Guan Manyu | Beneficial Owner | 2,500,000 | 0.50 | | Mr. Li Ka Yin | Beneficial Owner | 1,000,000 | 0.20 | | Mr. Chan Tak Yiu | Beneficial Owner | 100,000 | 0.02 | | Mr. Yang Haojiang | Beneficial Owner | 500,000 | 0.10 | - Substantial shareholder Zhejiang Provincial State-owned Capital Operation Co., Ltd. indirectly holds **361,150,000** shares, representing **72.23%** of the total share capital, through a series of controlled entities[82](index=82&type=chunk)[84](index=84&type=chunk) [Share Option Scheme](index=30&type=section&id=Share%20Option%20Scheme) The company adopted a Share Option Scheme on September 17, 2019, valid until 2029, with a maximum of **50,000,000** shares available for options, aiming to incentivize contributors, and no options have been granted, exercised, expired, or lapsed since its adoption to date - The Share Option Scheme aims to attract and retain talent, with eligible participants including employees, directors, consultants, and business partners[86](index=86&type=chunk) - No share options have been granted or exercised since the scheme's adoption to the reporting date, and as of June 30, 2024, the company had no outstanding share options[89](index=89&type=chunk)[91](index=91&type=chunk) Independent Review Report [Independent Review Report](index=33&type=section&id=Independent%20Review%20Report) This section presents the independent review report by Ernst & Young, Certified Public Accountants, on the Group's interim financial information for the six months ended June 30, 2024, concluding that nothing came to their attention suggesting the information was not prepared in all material respects in accordance with HKAS 34 - The scope of a review is substantially less than an audit, thus the auditor does not express an audit opinion[94](index=94&type=chunk)[95](index=95&type=chunk) - Based on the review, the auditor found no material matters indicating that the interim financial information was not prepared as required[96](index=96&type=chunk)[97](index=97&type=chunk) Interim Condensed Consolidated Financial Statements [Interim Condensed Consolidated Statement of Profit or Loss](index=35&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) For the six months ended June 30, 2024, the Group reported revenue of **HKD 2.773 billion**, gross profit of **HKD 188 million**, profit for the period of **HKD 36.22 million**, with **HKD 35.85 million** attributable to owners of the company, and basic earnings per share of **7.17 HK cents** H1 2024 Statement of Profit or Loss Summary | Item | Amount (Thousand HKD) | | :--- | :--- | | Revenue | 2,773,188 | | Gross profit | 188,062 | | Profit Before Tax | 49,869 | | Profit for the Period | 36,220 | | Profit Attributable to Owners of the Company | 35,845 | | Basic Earnings Per Share | 7.17 HK cents | [Interim Condensed Consolidated Statement of Financial Position](index=36&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2024, the Group's total assets were **HKD 4.239 billion**, total liabilities **HKD 3.587 billion**, and net assets **HKD 652 million**, with net current assets of **HKD 411 million** indicating robust short-term solvency Financial Position Summary (As of June 30, 2024) | Item | Amount (Thousand HKD) | | :--- | :--- | | **Total Non-current Assets** | 350,952 | | **Total Current Assets** | 3,887,915 | | **Total Assets** | **4,238,867** | | **Total Current Liabilities** | 3,476,514 | | **Total Non-current Liabilities** | 110,702 | | **Total Liabilities** | **3,587,216** | | **Net Assets** | **651,651** | [Interim Condensed Consolidated Statement of Cash Flows](index=41&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) In H1 2024, the Group generated **HKD 224 million** net cash from operating activities, a significant improvement from a **HKD 425 million** net outflow in the prior year, with net cash outflows of **HKD 2.06 million** from investing and **HKD 29.31 million** from financing activities, resulting in a **HKD 193 million** net increase in cash and cash equivalents, ending the period at **HKD 428 million** Cash Flow Statement Summary (H1 2024) | Item | Amount (Thousand HKD) | | :--- | :--- | | Net Cash Flows from Operating Activities | 223,999 | | Net Cash Flows (Used in) Investing Activities | (2,058) | | Net Cash Flows (Used in) Financing Activities | (29,313) | | **Net Increase in Cash and Cash Equivalents** | **192,628** | | **Cash and Cash Equivalents at End of Period** | **427,626** | [Notes to Interim Condensed Consolidated Financial Information](index=46&type=section&id=Notes%20to%20Interim%20Condensed%20Consolidated%20Financial%20Information) The financial statement notes detail accounting policies, segment information, revenue composition, and related party transactions, highlighting the Group's two operating segments—construction and environmental—with construction as the primary revenue source, and providing breakdowns of revenue by type, geography, and recognition timing, alongside disclosures of various transactions and balances with the holding company and fellow subsidiaries - The Group has two reportable operating segments: (i) Construction Business (in Hong Kong, Malaysia, and the UK) and (ii) Environmental Business (in China), with management separately monitoring their performance for decision-making purposes[118](index=118&type=chunk) Segment Revenue and Results (H1 2024) | Segment | Revenue (Thousand HKD) | Segment Results (Thousand HKD) | | :--- | :--- | :--- | | Construction Business | 2,704,868 | 65,794 | | Environmental Business | 68,320 | 8,056 | | **Total** | **2,773,188** | **73,850** | - The Group engages in various related party transactions with its intermediate holding company and fellow subsidiaries, including consulting service fees, interest expenses, material purchases, and subcontracting service fees[172](index=172&type=chunk) - As of June 30, 2024, the Group had loans from its intermediate holding company and fellow subsidiaries totaling approximately **HKD 196 million**, with some being interest-bearing[174](index=174&type=chunk)[175](index=175&type=chunk)
华营建筑(01582) - 2024 - 中期业绩
2024-08-22 14:04
[Financial Highlights](index=1&type=section&id=Financial%20Highlights) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) For the six months ended June 30, 2024, the Group's total revenue slightly decreased to HKD 2.77 billion, while gross profit significantly increased to HKD 188.1 million, though profit attributable to owners declined to approximately HKD 35.8 million, with the Board resolving to declare an interim dividend of HKD 1.5 cents per share Financial Performance Summary | Metric | Six Months Ended June 30, 2024 (Million HKD) | Six Months Ended June 30, 2023 (Million HKD) | Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | 2,773.2 | 2,832.1 | -2.1% | | **Gross Profit** | 188.1 | 150.5 | +25.0% | | **Profit Attributable to Owners** | 35.8 | 45.5 | -21.3% | - The Board has resolved to declare an interim dividend of **HKD 1.5 cents per share**[1](index=1&type=chunk) [Interim Financial Statements](index=2&type=section&id=Interim%20Financial%20Statements) [Interim Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) During the reporting period, revenue was HKD 2.77 billion, a slight decrease of 2.1% year-on-year, while gross profit increased by 25.0% to HKD 188.06 million due to effective cost control, but profit for the period decreased by 21.2% to HKD 36.22 million, with basic earnings per share at HKD 7.17 cents Interim Condensed Consolidated Statement of Profit or Loss | Item | Six Months Ended June 30, 2024 (Thousand HKD) | Six Months Ended June 30, 2023 (Thousand HKD) | | :--- | :--- | :--- | | **Revenue** | 2,773,188 | 2,832,073 | | **Gross Profit** | 188,062 | 150,480 | | **Administrative Expenses** | (98,612) | (80,890) | | **Profit Before Tax** | 49,869 | 54,818 | | **Profit for the Period** | 36,220 | 45,954 | | **Profit Attributable to Owners of the Company** | 35,845 | 45,457 | | **Basic Earnings Per Share** | 7.17 HK cents | 9.09 HK cents | [Interim Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) During the reporting period, total comprehensive income for the period decreased from HKD 27.49 million in the prior period to HKD 25.80 million, primarily due to an exchange difference loss of HKD 10.42 million arising from the translation of overseas operations - Other comprehensive loss for the period from exchange differences on translation of overseas operations was **HKD 10.42 million** (compared to a loss of HKD 18.47 million in the prior period)[3](index=3&type=chunk) - Total comprehensive income for the period was **HKD 25.80 million**, a decrease from **HKD 27.49 million** in the prior period[3](index=3&type=chunk) [Interim Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2024, the Group's total assets were HKD 4.24 billion, total liabilities were HKD 3.59 billion, and net assets increased to HKD 652 million, with net current assets improving from HKD 374 million to HKD 411 million, indicating enhanced liquidity Interim Condensed Consolidated Statement of Financial Position | Item | June 30, 2024 (Thousand HKD) | December 31, 2023 (Thousand HKD) | | :--- | :--- | :--- | | **Total Non-current Assets** | 350,952 | 353,693 | | **Total Current Assets** | 3,887,915 | 3,777,662 | | **Total Current Liabilities** | 3,476,514 | 3,403,201 | | **Net Current Assets** | 411,401 | 374,461 | | **Total Non-current Liabilities** | 110,702 | 93,305 | | **Net Assets** | 651,651 | 634,849 | [Notes to the Interim Condensed Consolidated Financial Information](index=6&type=section&id=Notes%20to%20the%20Interim%20Condensed%20Consolidated%20Financial%20Information) [Operating Segment Information](index=7&type=section&id=3.%20Operating%20Segment%20Information) The Group's operations are divided into two main segments: construction and environmental protection, with construction remaining the core business, contributing 97.5% of revenue and 89.1% of segment results, while environmental protection revenue decreased by 40.5% year-on-year, leading to a reduction in its segment results Segment Performance | Segment | Revenue (Thousand HKD) | Segment Results (Thousand HKD) | | :--- | :--- | :--- | | **Construction Business** | 2,704,868 | 65,794 | | **Environmental Protection Business** | 68,320 | 8,056 | | **Total** | 2,773,188 | 73,850 | - The Construction Business segment primarily engages in building construction and RMAA works in Hong Kong, Malaysia, and the United Kingdom[12](index=12&type=chunk) - The Environmental Protection Business segment is involved in the construction and operation of wastewater treatment and related facilities in Mainland China[12](index=12&type=chunk) [Revenue and Other Income](index=9&type=section&id=4.%20Revenue%20and%20Other%20Income) Total revenue primarily derived from contracts with customers, with building construction works being the largest contributor, and Hong Kong market accounting for over 84% of revenue by geographical segment, while other income significantly increased due to HKD 5.7 million in insurance compensation received Revenue by Type | Revenue Type | Amount (Thousand HKD) | | :--- | :--- | | **Building Construction Works** | 2,414,268 | | **RMAA Works** | 290,600 | | **Environmental Protection Business** | 62,892 | | **Total Revenue from Contracts with Customers** | 2,767,760 | Revenue by Geographical Market | Geographical Market | Amount (Thousand HKD) | | :--- | :--- | | **Hong Kong** | 2,329,939 | | **United Kingdom** | 320,994 | | **Mainland China** | 62,892 | | **Malaysia** | 53,935 | - Other income amounted to **HKD 6.95 million**, primarily comprising **HKD 5.7 million** in insurance compensation[17](index=17&type=chunk) [Finance Costs](index=13&type=section&id=6.%20Finance%20Costs) Finance costs significantly increased by 55.3% year-on-year to HKD 29.68 million, primarily due to higher interest on bank borrowings and interest on discounting amounts due from retention monies Finance Costs Breakdown | Item | Six Months Ended June 30, 2024 (Thousand HKD) | Six Months Ended June 30, 2023 (Thousand HKD) | | :--- | :--- | :--- | | **Interest on bank borrowings** | 17,161 | 10,865 | | **Interest on discounting amounts due from retention monies** | 9,988 | 3,208 | | **Total** | 29,677 | 19,109 | [Dividends](index=14&type=section&id=8.%20Dividends) The Board declared an interim dividend of HKD 1.5 cents per share for the six months ended June 30, 2024, consistent with the prior period, and the final dividend of HKD 1.8 cents per share for 2023 was paid in July 2024 - A proposed interim dividend of **HKD 1.5 cents per share**[64](index=64&type=chunk) - The Board declared an interim dividend of **HKD 1.5 cents per ordinary share**, consistent with the prior period (HKD 1.5 cents), totaling **HKD 7.5 million**[24](index=24&type=chunk) - The final dividend for 2023 of **HKD 9 million** (HKD 1.8 cents per share) was paid on July 26, 2024[24](index=24&type=chunk) [Management Discussion and Analysis](index=19&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review and Outlook](index=19&type=section&id=Business%20Review%20and%20Outlook) The Group maintains a leading position in its core construction business with 47 ongoing projects totaling HKD 28.5 billion in contracts, emphasizing technological innovation with HKD 11.6 million invested in R&D and its proprietary '4S Smart Site Safety System' achieving ISO 27001 certification, while anticipating positive impacts from Hong Kong's stable economic development, the imported labor scheme, and amendments to the compulsory sale for redevelopment ordinance - As of June 30, 2024, the Group had **47 ongoing projects** with original contract sums totaling approximately **HKD 28.5 billion**[34](index=34&type=chunk) - During the reporting period, the Group was awarded **9 new projects** with original contract sums totaling approximately **HKD 4.1 billion**[34](index=34&type=chunk) - The Group prioritizes technological innovation, with total R&D expenditure of approximately **HKD 11.6 million** during the reporting period, and its self-developed '4S Smart Site Safety System' successfully obtained ISO 27001 certification[37](index=37&type=chunk) - Looking ahead to the second half of the year, the imported labor scheme is expected to alleviate talent shortages, and amendments to the compulsory sale ordinance are anticipated to promote redevelopment projects, bringing positive impacts to the Group's business[38](index=38&type=chunk) [Financial Review](index=22&type=section&id=Financial%20Review) This period's financial performance is characterized by a slight revenue decrease, gross profit growth, and net profit decline, with total revenue down 2.1% to HKD 2.77 billion primarily due to reduced environmental protection business and building construction works revenue, while gross margin improved from 5.3% to 6.8% driven by significant improvement in RMAA works gross profit, but increased administrative expenses and expected credit loss provisions for receivables led to a 21.3% decline in net profit to HKD 36.2 million [Revenue](index=22&type=section&id=Revenue) Total revenue decreased by 2.1% year-on-year, with building construction works revenue slightly down by 1.7%, RMAA works revenue up by 11.2%, and environmental protection business revenue significantly declining by 40.5% Revenue by Business Segment | Business Segment | Six Months Ended June 30, 2024 (Million HKD) | Six Months Ended June 30, 2023 (Million HKD) | Change | | :--- | :--- | :--- | :--- | | **Building Construction Works** | 2,414.3 | 2,455.9 | -1.7% | | **RMAA Works** | 290.6 | 261.4 | +11.2% | | **Environmental Protection Business** | 68.3 | 114.8 | -40.5% | | **Total Revenue** | 2,773.2 | 2,832.1 | -2.1% | [Gross Profit and Gross Margin](index=23&type=section&id=Gross%20Profit%20and%20Gross%20Margin) The Group's overall gross margin significantly improved from 5.3% to 6.8%, primarily driven by the RMAA works segment, which saw its gross margin reverse from -0.5% to 14.9%, while building construction works gross margin slightly decreased and environmental protection business gross margin increased - RMAA works gross profit turned from a loss of **HKD 1.4 million** in the prior period to a profit of **HKD 43.2 million**, with its gross margin increasing from **-0.5% to 14.9%**[46](index=46&type=chunk) - Environmental protection business gross margin increased from **18.5% to 26.6%**, but the gross profit amount decreased due to reduced revenue from high-margin construction and rehabilitation services[47](index=47&type=chunk) [Expenses and Profit](index=24&type=section&id=Expenses%20and%20Profit) Net profit declined primarily due to several expense changes: administrative expenses increased due to higher staff costs and R&D investment; other operating items shifted from net income to net expenses in the prior period, mainly due to a HKD 17.7 million provision for expected credit losses on receivables; finance costs rose due to increased interest rates; and income tax expense increased due to higher non-deductible expenses - Administrative expenses increased from **HKD 80.9 million** to **HKD 98.6 million**, primarily due to higher staff costs, bank charges, and R&D expenses[49](index=49&type=chunk) - Net other operating expenses amounted to **HKD 16.9 million**, compared to income of HKD 2.1 million in the prior period, mainly due to a **HKD 17.7 million** provision for expected credit losses on receivables[50](index=50&type=chunk) - Net profit decreased by **21.3%** from **HKD 46 million** to **HKD 36.2 million**[53](index=53&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=26&type=section&id=Liquidity,%20Financial%20Resources%20and%20Capital%20Structure) The Group maintains a robust financial position with ample liquidity, as cash and cash equivalents significantly increased to HKD 428 million at the end of the reporting period, and the gearing ratio substantially decreased from 42.3% at the end of last year to 29.2%, indicating reduced financial leverage Key Financial Metrics | Metric | June 30, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Cash and Cash Equivalents** | 427.6 Million HKD | 236.0 Million HKD | | **Net Current Assets** | 411.4 Million HKD | 374.5 Million HKD | | **Gearing Ratio** | 29.2% | 42.3% | | **Interest-bearing Bank Borrowings** | 493.5 Million HKD | 415.6 Million HKD | - The Group pledged receivables and contract assets with a net book value of **HKD 184 million** under service concession arrangements to banks to finance loans in China[61](index=61&type=chunk) [Corporate Governance and Other Information](index=28&type=section&id=Corporate%20Governance%20and%20Other%20Information) [Dividends and Share Registrar](index=28&type=section&id=Dividends%20and%20Share%20Registrar) The Board recommended an interim dividend of HKD 1.5 cents per share, payable on or about September 30, 2024, with the share register to be closed from September 5 to September 9, 2024, to determine dividend entitlements - A proposed interim dividend of **HKD 1.5 cents per share**[64](index=64&type=chunk) - The share register will be closed from **September 5 to September 9, 2024** (both dates inclusive)[65](index=65&type=chunk) [Compliance and Review](index=28&type=section&id=Compliance%20and%20Review) The Company complied with all applicable code provisions of the Corporate Governance Code during the reporting period, and the interim results were reviewed by the Company's auditor in accordance with Hong Kong Standard on Review Engagements 2410 and by the Company's Audit Committee - The Company has complied with all applicable code provisions set out in the Corporate Governance Code during the reporting period[66](index=66&type=chunk) - The unaudited interim condensed consolidated financial information has been reviewed by the Company's auditor and by the Company's Audit Committee[69](index=69&type=chunk)