Financial Performance - Total revenue for the year ended December 31, 2023, decreased to approximately HKD 5,445.6 million, down from HKD 6,409.4 million for the year ended December 31, 2022[2] - Gross profit increased to approximately HKD 306.0 million for the year ended December 31, 2023, compared to HKD 256.5 million for the year ended December 31, 2022[2] - Profit attributable to equity holders of the company for the year ended December 31, 2023, was approximately HKD 71.9 million, slightly down from HKD 72.1 million for the year ended December 31, 2022[2] - Total comprehensive income for the year ended December 31, 2023, was HKD 62.1 million, compared to HKD 37.4 million for the year ended December 31, 2022[5] - The company reported a basic and diluted earnings per share of HKD 0.1438 for the year ended December 31, 2023, compared to HKD 0.1442 for the year ended December 31, 2022[4] - The net profit for the year ending December 31, 2022, was revised to HKD 72,940 thousand, compared to the previously reported HKD 56,532 thousand, representing a growth of approximately 28.98%[14] - The group recorded a net profit of HKD 72,225,000 for the year, slightly down from HKD 72,940,000 in 2022, a decrease of 1%[34] - Net profit decreased by approximately HKD 0.7 million or 1.0% to about HKD 72.2 million, with net profit margin rising from 1.1% to 1.3%[89] Assets and Liabilities - Non-current assets increased to HKD 353.7 million as of December 31, 2023, from HKD 274.7 million as of December 31, 2022[7] - Current assets rose to HKD 3,777.7 million as of December 31, 2023, compared to HKD 3,300.3 million as of December 31, 2022[7] - Total liabilities increased to HKD 3,403.2 million as of December 31, 2023, from HKD 2,681.6 million as of December 31, 2022[7] - Total assets as of December 31, 2023, amounted to HKD 4,131,355,000, an increase from HKD 3,574,979,000 in 2022[36] - Total liabilities increased to HKD 3,496,506,000 from HKD 2,741,224,000, marking a rise of 27.6%[36] - The total equity after the acquisition was revised to HKD 833,755 thousand, up from HKD 569,092 thousand, reflecting a significant increase of approximately 46.5%[19] Dividends - The board proposed a final dividend of HKD 0.018 per share, totaling approximately HKD 9.0 million[2] - The company plans to maintain a final dividend of HKD 1.8 cents per share, unchanged from the previous year[53] - The board proposed a final dividend of HKD 0.018 per share for the reporting period, consistent with the previous year[108] Acquisitions - The acquisition of Zhejiang Construction Environmental Engineering Co., Ltd. was completed on May 8, 2023, for a consideration of approximately HKD 228.4 million[11] - The acquisition of Zhejiang Construction Environmental Group has been accounted for under the merger accounting principles, impacting the consolidated financial statements for the years ending December 31, 2023, and December 31, 2022[12] - The group completed the acquisition of Zhejiang Construction Environmental Protection for a consideration of RMB 201 million (approximately HKD 228.4 million) on May 8, 2023, enhancing its capabilities in wastewater and recycled water treatment services[94] Revenue Segments - The construction segment generated revenue of HKD 5,231,681,000, down from HKD 6,266,589,000, representing a decline of 16.5%[34] - The environmental segment reported revenue of HKD 213,879,000, an increase of 49.8% from HKD 142,840,000 in the previous year[34] - Revenue from building construction projects decreased by approximately HKD 292.3 million or 5.9% to about HKD 4,703.0 million due to reduced income from new and existing projects[75] - Revenue from RMAA projects decreased by approximately HKD 742.6 million or 58.4% to about HKD 528.7 million, primarily due to existing projects nearing completion[76] - Revenue from environmental business increased by approximately HKD 71.1 million or 49.8% to about HKD 213.9 million, driven by new projects and existing services[77] Expenses - Administrative expenses increased from approximately HKD 150.4 million to about HKD 173.0 million, mainly due to higher employee costs and R&D expenses[85] - Financing costs increased from approximately HKD 20.3 million to about HKD 52.6 million, attributed to rising interbank rates and additional borrowings[87] - Income tax expenses increased by approximately HKD 3.8 million or 42.7% to about HKD 12.7 million, mainly due to the utilization of tax losses in the previous year[88] Employee and Talent Management - As of December 31, 2023, the group had a total of 906 employees, an increase from 883 employees as of December 31, 2022, with total employee costs (excluding directors' remuneration) amounting to approximately HKD 464.7 million, up from HKD 419.0 million in 2022[91] - The company plans to strengthen the use of labor import programs to address the shortage of technical talent in the construction industry[72] Financial Reporting and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards[23] - The group adopted new and revised Hong Kong Financial Reporting Standards during the year, including HKFRS 17 on insurance contracts[28] - The company has adhered to the corporate governance code since its listing and will continue to review its governance practices[112] - The audit committee, chaired by an independent non-executive director, oversees the appointment and remuneration of external auditors and monitors financial reporting[116] - The company’s auditor confirmed that the preliminary announcement of the consolidated financial statements aligns with the figures in the annual financial report[117] Future Outlook and Projects - The company has 44 ongoing projects with a total original contract value of approximately HKD 27.5 billion as of December 31, 2023[65] - During the reporting period, the company secured 15 new projects with an original contract value of approximately HKD 6 billion and completed 19 projects valued at approximately HKD 4.3 billion[65] - The company has been awarded 4 new projects post-December 31, 2023, including 3 building construction contracts valued at approximately HKD 96.4 million and 1 RMAA contract valued at approximately HKD 599 million[69] Risk Management - The group continues to monitor foreign exchange risks closely, given its operations in multiple currencies including RMB, HKD, MYR, and GBP, although it currently has no foreign currency hedging policy in place[100] - The average credit period for trade payables is between 30 to 180 days, with a financial risk management policy in place to ensure timely repayments[59]

Business Performance - The total revenue for the Group for the six months ended June 30, 2023, decreased to approximately HK$2,832.1 million, compared to approximately HK$2,919.9 million for the same period in 2022, reflecting a decrease of about 3%[33]. - The total gross profit increased to approximately HK$150.5 million for the six months ended June 30, 2023, up from approximately HK$135.8 million for the same period in 2022, representing an increase of about 10%[34]. - Profit attributable to owners of the Company for the six months ended June 30, 2023, amounted to approximately HK$45.5 million, compared to approximately HK$41.5 million for the same period in 2022, marking an increase of about 10%[35]. - Revenue for the six months ended June 30, 2023, was HK$2,832,073,000, a decrease of 3.0% from HK$2,919,864,000 in the same period of 2022[197]. - Gross profit increased to HK$150,480,000, up 10.7% from HK$135,756,000 year-over-year[197]. - Profit for the period attributable to owners of the Company was HK$45,457,000, an increase of 9.6% from HK$41,460,000 in the same period last year[197]. Project Acquisition and Development - The Group was awarded a total of 6 new projects during the Reporting Period, generating revenue of approximately HK$2,832 million and a net profit of approximately HK$45.50 million[14]. - The successful acquisition of Zhejiang Construction Investment Environment Engineering Company Limited (ZCIEE) represents an expansion into new business areas, specifically environmental improvement and protection-related construction services[14]. - The Group plans to continue capitalizing on new development opportunities arising from Hong Kong's integration into the overall development of the country, with local construction tenders expected to grow due to large-scale projects like "Lantau Tomorrow" and "Northern Metropolis"[25]. - The Group's acquisition of ZCIEE is expected to expand its business presence and enhance profitability, contributing to environmental protection and ecological conservation in the PRC[25]. - During the Reporting Period, the Group was awarded 6 new projects with an aggregate original contract sum of approximately HK$0.4 billion and completed 9 projects totaling approximately HK$1.5 billion[42]. Financial Management and Costs - The Group's contract costs decreased by approximately HK$102.5 million or approximately 3.7% to approximately HK$2,681.6 million for the Reporting Period[73][77]. - Administrative expenses increased by approximately HK$8.5 million to approximately HK$80.9 million, mainly due to higher professional service fees incurred during the Reporting Period[83]. - Finance costs increased by approximately HK$11.1 million to approximately HK$19.1 million, attributed to the rise in HIBOR and additional borrowings[90]. - Income tax expenses rose by approximately HK$3.5 million or approximately 63.6% to approximately HK$8.9 million, with effective tax rates of approximately 16.2% for the Reporting Period[91]. Market Conditions and Economic Outlook - The economic recovery in the PRC and Hong Kong has been positive, although cost pressures have increased alongside this recovery[15]. - The construction industry in Hong Kong continues to face various impacts due to the changing economic environment post-pandemic[15]. - The Group anticipates that economic activities in Hong Kong will return to normal levels in the second half of 2023, although cost pressures are expected to increase[52]. Sustainability and Innovation - The Group is actively pursuing a sustainable development strategy and enhancing its diversified development[14]. - The Group's self-developed Digital Works Supervision System ("DWSS"), SmarTick Pro, obtained the ISO27001 Certification for Information Security Management System, making it the first company in Hong Kong to achieve this certification for DWSS[21]. - The Group aims to strengthen talent management by providing diversified training plans and development opportunities to enhance employee promotion mechanisms[26]. - The Group will deepen its diversified development strategy, focusing on innovative technologies such as smart construction sites and expanding its upstream and downstream development through investments and mergers[26]. Shareholder Information - An interim dividend of HK1.5 cents per share has been declared for shareholders, with the payment date set for September 12, 2023[36]. - The Board recommended an interim dividend of HK1.5 cents per ordinary share, down from HK2.5 cents in the previous period[101]. - As of June 30, 2023, the company had a total of 500,000,000 issued shares[162]. - The total number of shares held by substantial shareholders indicates a strong control over the company, with 72.23% held by a single entity[165].

Financial Performance - Revenue for the year was approximately HK$6.3 billion, with a net profit of approximately HK$56.5 million[11]. - The Group's total revenue increased by approximately HK$1,376.5 million or approximately 28.1%, from approximately HK$4,890.1 million in 2021 to approximately HK$6,266.6 million in 2022[43][48]. - Revenue from building construction works rose by approximately HK$880.0 million or approximately 21.4%, from approximately HK$4,115.3 million in 2021 to approximately HK$4,995.3 million in 2022[44][49]. - Revenue from RMAA works surged by approximately HK$496.5 million or approximately 64.1%, from approximately HK$774.8 million in 2021 to approximately HK$1,271.3 million in 2022[45][50]. - Net profit increased by approximately HK$7.9 million, or about 16.3%, to approximately HK$56.5 million, with net profit margins of approximately 1.0% and 0.9% for the years ended December 31, 2021, and 2022, respectively[66]. Project Development - The Group was awarded 24 new projects in 2022, including 2 in Malaysia and 1 in the UK[11]. - The aggregate original contract sum reached approximately HK$9.7 billion, a record high for the Group[11]. - The Kai Tak public housing development project set a new record for the value of individual engineering contracts[11]. - The Group won 2 Modular Integrated Construction (MiC) projects during the reporting period, including 1 public MiC project[12]. - As of December 31, 2022, the Group had 48 projects on hand with an aggregate original contract sum of approximately HK$25.7 billion, up from 37 projects totaling HK$17.4 billion in the previous year[26]. Market Expansion - The Group expanded its operations in the UK market through investments and acquisitions while consolidating its presence in Malaysia[11]. - The Group intends to further expand its overseas market, particularly in Malaysia and the UK[19]. - The outlook for 2023 is expected to be more stable with the resumption of pre-COVID normalcy, although skilled labor shortages may continue to drive up project costs[29]. Operational Challenges - The construction industry in Hong Kong is facing challenges such as structural manpower shortages and rising wages, which are increasing project costs[19]. - The Group's contract costs increased by approximately HK$1,333.7 million or approximately 28.3%, from approximately HK$4,712.3 million in 2021 to approximately HK$6,046.0 million in 2022[52][57]. Sustainability and Governance - The Group actively promoted sustainable development and improved its environmental, social, and governance management[16]. - The Group's strategy focused on brand-building and a people-oriented approach to mitigate the impacts of the COVID-19 pandemic[16]. - The Company is committed to high standards of corporate governance to safeguard shareholder interests and enhance corporate value[190]. Leadership and Management - The company has a strong leadership team with extensive experience in the construction sector, enhancing its operational capabilities[130][136][143]. - The Group's senior management team includes professionals with extensive backgrounds in construction and engineering, ensuring strong operational oversight[169]. - The management team is committed to maintaining high standards of quality management across all projects, which is critical for client satisfaction and project delivery[171]. Financial Management - The company continues to manage its financial position prudently and maintains a conservative cash and financial management policy[107]. - The gearing ratio as of December 31, 2022, was approximately 14.9%, a decrease from approximately 16.4% in 2021[93]. - The group maintained a healthy liquidity position, with cash and cash equivalents increasing to approximately HK$93.3 million from approximately HK$69.1 million in 2021[95]. Future Outlook - The Group anticipates rapid growth in the construction business in the second half of 2023, increasing business opportunities[33]. - The company provided guidance for the next fiscal year, projecting revenue growth of A% and an expected EBITDA margin of B%[147]. - Future outlook remains positive, with management expressing confidence in achieving K% growth in the upcoming quarters[147].

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） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 之 全 年 業 績 公 告 財務摘要 截至二零二二年十二月三十一日止年度本集團的總收益增加至約6,266.6 百萬港元，而截至二零二一年十二月三十一日止年度本集團的總收益 為約4,890.1百萬港元（經重列）。 截至二零二二年十二月三十一日止年度本集團的總毛利增加至約220.6 百萬港元，而截至二零二一年十二月三十一日止年度本集團的總毛利 則為約177.8百萬港元（經重列）。 截至二零二二年十二月三十一日止年度本公司權益持有人應佔溢利約 ...

Financial Performance - Total revenue for the six months ended June 30, 2020, decreased to approximately HKD 2,180.9 million, compared to HKD 2,393.9 million for the same period in 2019, representing a decline of about 8.9%[10] - Gross profit for the same period increased to approximately HKD 106.0 million, up from HKD 98.8 million in 2019, reflecting an increase of about 7.3%[10] - Profit attributable to equity holders for the six months ended June 30, 2020, was approximately HKD 28.4 million, down from HKD 31.2 million in 2019, indicating a decrease of about 8.9%[10] - Total revenue decreased by approximately HKD 213.0 million or 8.9% to about HKD 2,180.9 million for the six months ended June 30, 2020, compared to HKD 2,393.9 million for the same period in 2019[25] - Revenue from building construction decreased by approximately HKD 376.7 million or 16.5% to about HKD 1,906.5 million due to limited progress on three major projects[26] - Revenue from RMAA projects increased by approximately HKD 163.7 million or 147.9% to about HKD 274.4 million, attributed to significant progress on three new projects[27] - Net profit decreased by approximately HKD 2.8 million or 9.0% to about HKD 28.4 million, with a net profit margin remaining stable at 1.3%[41] - Basic and diluted earnings per share decreased to HKD 5.68 cents from HKD 8.65 cents, representing a decline of 34.3%[104] - Basic earnings per share for the six months ended June 30, 2020, were HKD 0.0568, down from HKD 0.0865 in the same period of 2019, representing a decrease of approximately 34.5%[144] Dividend and Shareholder Information - The company declared an interim dividend of HKD 0.025 per share, with no withholding tax applicable[10] - The board proposed an interim dividend of HKD 0.025 per share for the six months ended June 30, 2020, compared to no dividend in the same period last year[43] - The interim dividend declared on August 18, 2020, was HKD 0.025 per share, totaling HKD 12,500,000, compared to no interim dividend for the same period in 2019[143] - As of June 30, 2020, the company had a total of 500,000,000 shares issued[76] - The major shareholder, Zhejiang State-owned Capital Operation Co., Ltd., holds 361,150,000 shares, representing approximately 72.23% of the company's equity[80] - Huaying Construction Investment Co., Ltd. directly holds 361,150,000 shares, representing a significant ownership stake[1] - Ningxing (Group) Co., Ltd. directly holds 25,000,000 shares, indicating its involvement as a state-owned enterprise[2] - The company has adopted a share option scheme to reward participants for their contributions, with a maximum of 50,000,000 shares available for issuance under this plan[89] Project and Contract Information - As of June 30, 2020, the company had 24 projects on hand with a total original contract value of approximately HKD 16.4 billion, compared to 19 projects valued at approximately HKD 13.8 billion as of December 31, 2019[13] - During the reporting period, the company secured six new projects with a total original contract value of approximately HKD 3.0 billion and completed one project valued at approximately HKD 0.4 billion[13] - From July to early August 2020, the company was awarded three new projects, including two building construction contracts totaling approximately HKD 1.1 billion and one RMAA contract valued at approximately HKD 385 million[14] - The company anticipates continued challenges in the construction industry due to the impact of COVID-19, which has affected project bidding opportunities and construction progress[14] - The company has implemented strict control measures to minimize the impact of COVID-19 on its projects, despite the economic outlook remaining challenging[16] Cost and Expense Management - Contract costs decreased by approximately HKD 220.2 million or 9.6% to about HKD 2,074.9 million, mainly due to reductions in subcontracting fees, material costs, and direct employee costs[28] - Administrative expenses increased from approximately HKD 51.2 million to about HKD 58.3 million, primarily due to rising employee costs and professional fees[35] - Employee benefits expenses, including salaries and allowances, were HKD 161,789, down from HKD 195,030, reflecting a decrease of 17.0%[135] - The company reported a decrease in contract assets to HKD 1,741,133 thousand from HKD 1,569,973 thousand, indicating a decline of 10.9%[108] Financial Position and Commitments - As of June 30, 2020, the group had a total of 638 employees, down from 707 employees as of June 30, 2019, with total employee costs (excluding directors' remuneration) amounting to approximately HKD 155.9 million, a decrease from HKD 189.6 million in the same period last year[42] - The group's debt-to-capital ratio was approximately 76.1% as of June 30, 2020, up from 74.2% as of December 31, 2019[52] - As of June 30, 2020, the group recorded net current assets of approximately HKD 492.2 million, down from HKD 501.4 million as of December 31, 2019[53] - The group maintained a conservative cash and financial management policy, closely monitoring its liquidity and financing needs[57] - The group’s cash and cash equivalents as of June 30, 2020, were not explicitly stated but are critical for assessing liquidity and operational flexibility[141] - The group entered into new lease agreements, resulting in an increase of HKD 35,791,000 in right-of-use assets and lease liabilities for the six months ended June 30, 2020, compared to HKD 646,000 for the same period in 2019[145] - Capital commitments as of June 30, 2020, included contracts for property and machinery amounting to HKD 2,062,000 and for computers and software amounting to HKD 888,000, totaling HKD 2,950,000[171] Governance and Compliance - The company has complied with all applicable provisions of the corporate governance code during the reporting period[68] - The executive director, Li Jiaxian, was appointed as the CEO on April 1, 2020, ensuring a clear division of responsibilities between the chairman and the CEO[68] - The audit committee is chaired by an independent non-executive director, ensuring oversight of financial reporting and internal controls[70] - The company has no changes in director information that require disclosure under the listing rules during the reporting period[71] - The company has no specific major investment or capital asset plans disclosed as of June 30, 2020[62] - The company has not purchased, sold, or redeemed any listed securities during the reporting period[74] - The company has no significant adverse impact on its financial position or performance from claims related to employee injuries during the reporting period[169] Cash Flow and Financing - Net cash used in operating activities was HKD 229,165 thousand, a significant decrease from HKD 27,800 thousand in the same period last year[112] - The net cash flow from financing activities was HKD 174,618, an increase of 50.3% compared to HKD 116,094 in the previous year[115] - The company reported a net cash decrease of HKD 55,400 for the period, compared to an increase of HKD 11,936 in the same period last year[115] - The company has ongoing commitments for bank loans and financing guarantees provided by its intermediate holding company, ensuring liquidity and capital maintenance[176] - As of June 30, 2020, the company had secured bank loans amounting to HKD 185,000,000, with interest rates ranging from 2.0% to 4.6%[162] Other Financial Information - The total tax expense for the six months ended June 30, 2020, was HKD 5,732,000, slightly up from HKD 5,688,000 in the same period of 2019[140] - The financing cost for the six months ended June 30, 2020, was HKD 6,694,000, compared to HKD 6,521,000 for the same period in 2019, reflecting an increase of approximately 2.6%[138] - The company has no significant impact from the adoption of new accounting standards during the reporting period[124] - The fair value of financial instruments, including trade receivables and bank borrowings, is assessed to be similar to their carrying amounts due to their short maturity[180]

華 營 建 獎 集 團 控 股 有 限 公 司 CR CONSTRUCTION GROUP HOLDINGS LIMITED 股份代號：1582 (於開曼群島註冊成立的有限公司) 年報 19 目錄 | --- | --- | |---------------------------|--------------------------| | | | | 主席報告 管理層討論及分析 | | | 董事及高級管理層 | | | | | | 企業管治報告 | | | 董事會報告 | | | 獨立核數師報告 | | | | 綜合損益及其他全面收益表 | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 綜合現金流量表 | | | 財務報表附註 | | | 四年財務概要 | | | | | 2 4 6 13 20 37 50 56 57 58 59 61 112 1 華營建築集團控股有限公司 • 2019年年報 李家暉先生 何文莞先生 | --- | --- | |-----------------------------------------|--------------------------| | | ...