Financial Performance - Total revenue for the year ended December 31, 2024, increased to approximately HKD 6,066.0 million, up from HKD 5,445.6 million for the year ended December 31, 2023, representing a growth of about 11.3%[2] - Gross profit for the year ended December 31, 2024, rose to approximately HKD 353.2 million, compared to HKD 306.0 million for the previous year, marking an increase of approximately 15.4%[2] - Profit attributable to equity holders for the year ended December 31, 2024, was approximately HKD 53.7 million, down from HKD 71.9 million in the previous year, reflecting a decrease of about 25.3%[2] - Basic and diluted earnings per share for the year ended December 31, 2024, were HKD 0.1074, compared to HKD 0.1438 for the year ended December 31, 2023, indicating a decline of approximately 25.3%[4] - The total profit before tax for the group was HKD 80,544,000 in 2024, compared to HKD 84,901,000 in 2023, indicating a decrease of approximately 5.3%[18] - The group reported a basic earnings per share of HKD 0.1073, based on a profit attributable to equity holders of HKD 53,715,000 for the year, compared to HKD 71,887,000 in the previous year[40] - Net profit decreased by approximately 25.2% to about HKD 54.0 million from HKD 72.2 million, with net profit margins of approximately 1.3% and 0.9% for the years ending December 31, 2023, and 2024, respectively[78] Revenue Breakdown - Total revenue for the construction segment reached HKD 5,926,563,000 in 2024, up from HKD 5,231,681,000 in 2023, representing an increase of approximately 13.3%[18] - Revenue from the construction business segment reached HKD 5,926,563,000, up 13.3% from HKD 5,231,681,000 in the previous year[28] - Revenue from environmental services decreased to HKD 128,544,000 from HKD 205,236,000, a decline of 37.4%[28] - Revenue from environmental business decreased by approximately HKD 74.4 million or about 34.8% to approximately HKD 139.5 million, primarily due to reduced income from construction and renovation services[63] Assets and Liabilities - Total assets less current liabilities as of December 31, 2024, amounted to HKD 931.8 million, an increase from HKD 728.2 million as of December 31, 2023[7] - Current assets as of December 31, 2024, totaled HKD 4,489.8 million, compared to HKD 3,777.7 million in the previous year, representing an increase of approximately 18.8%[7] - Current liabilities as of December 31, 2024, were HKD 3,924.4 million, up from HKD 3,403.2 million in the previous year, reflecting an increase of about 15.3%[7] - Non-current liabilities increased to HKD 255.9 million as of December 31, 2024, from HKD 93.3 million in the previous year, indicating a significant rise of approximately 174.5%[8] - The total assets of the group increased to HKD 4,856,182,000 in 2024 from HKD 4,131,355,000 in 2023, marking a growth of around 17.5%[20] - The total liabilities rose to HKD 4,180,289,000 in 2024, up from HKD 3,496,506,000 in 2023, which is an increase of approximately 19.6%[20] Dividends - The company proposed a final dividend of HKD 0.018 per share, totaling approximately HKD 9.0 million[2] - The proposed final dividend for the year is HKD 0.018 per share, consistent with the previous year’s dividend[39] - The board proposed a final dividend of HKD 0.018 per share for the reporting period, consistent with the previous year's dividend[93] Research and Development - The company incurred research and development expenses of HKD 20,074,000, an increase from HKD 17,510,000 in the previous year, indicating a focus on innovation[36] - The group is focusing on technological innovation with total R&D expenditure of approximately HKD 20.1 million to enhance core competitiveness in the construction industry[55] Financial Management - The company continues to manage its financial position prudently and frequently reviews its liquidity and financing needs[90] - The company maintains a conservative cash and financial management policy to ensure it meets its funding requirements for business development[90] - The company has adopted corporate governance practices to safeguard shareholder interests and enhance corporate value[96] Taxation - The total tax expense for the year was HKD 26,594,000, significantly up from HKD 12,676,000 in the previous year, reflecting an increase in current tax liabilities[39] - Income tax expense increased by approximately 109.4% to about HKD 26.6 million from HKD 12.7 million, with effective tax rates of approximately 14.9% and 33.0% for the years ending December 31, 2023, and 2024, respectively[76] Project Management - The group secured 20 new projects during the year with a total original contract value of approximately HKD 8.8 billion, while completing 12 projects valued at HKD 3.2 billion[50] - The group has 52 ongoing projects with a total original contract value of approximately HKD 33.1 billion as of December 31, 2024[50] Other Financial Metrics - The company has adopted revised Hong Kong Financial Reporting Standards for the current financial year, impacting the accounting policies applied[14] - The debt-to-equity ratio improved to approximately 30.2% from 42.3%[86] - As of December 31, 2024, the company's interest-bearing bank borrowings amounted to approximately HKD 534.2 million, an increase from HKD 415.6 million in 2023[89] - The company pledged accounts receivable and contract assets with a net book value of HKD 187.2 million as of December 31, 2024, compared to HKD 174.6 million as of December 31, 2023[89]

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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)