Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of approximately MOP 182.0 million, an increase of about MOP 41.4 million or approximately 29.4% compared to the same period in 2023[12] - The gross profit for the fiscal year was approximately MOP 26.9 million, significantly up from MOP 8.1 million in the previous year, indicating a substantial improvement in financial performance[12] - As of December 31, 2024, the company's distributable reserves amounted to MOP 2.0 million, down from MOP 17.0 million in 2023[25] - The company does not recommend the payment of any final dividend for the fiscal year ending December 31, 2024, consistent with the previous year[24] Business Strategy and Development - The company plans to diversify its business portfolio through the acquisition of a company holding licenses for securities advisory and asset management, aiming to develop new revenue sources[13] - The company is exploring opportunities in the construction materials trade, driven by the accelerating infrastructure development in Macau and Hong Kong, which is expected to create strong demand for construction materials[14] - The company remains committed to leveraging business relationships and resources to implement new business strategies, actively seeking opportunities through strategic acquisitions and partnerships with globally recognized firms[16] - The company announced the establishment of a new investment company in Hong Kong to diversify and expand its business portfolio[169] - The company aims to continue seeking opportunities through mergers and acquisitions and collaborations with globally recognized enterprises to expand revenue sources[169] Shareholder Information - As of December 31, 2024, Mr. Liu Chao-sheng holds 390,000,000 shares, representing approximately 65% of the company[65] - Mr. Ye Jianhua holds 60,000,000 shares, representing approximately 10% of the company[65] - Major shareholder Liu Tai holds 390,000,000 shares, representing 65.0% of the company's issued share capital[69] - Laos International, owned by the company's controlling shareholder, holds 255,000,000 shares, accounting for 42.5%[69] - WHM Holdings, fully owned by Liu Tai, possesses 135,000,000 shares, which is 22.5% of the total[69] Corporate Governance - The board consists of eight members, including five executive directors and three independent non-executive directors[102] - The board consists of at least three independent non-executive directors, ensuring a balanced composition to provide independent opinions[105] - The board has held four meetings from January 1, 2024, to December 31, 2024, with all directors attending all meetings[113][115] - The company has established three committees (audit, remuneration, and nomination) to oversee specific matters, with most members being independent non-executive directors[127] - The independent non-executive directors have confirmed their independence annually, and the company believes all such directors are independent individuals[119] Risk Management and Internal Controls - The company has adopted a three-tier risk management approach to identify, assess, and manage various risks[146] - An internal control officer has been hired, and an independent third-party internal control consultant is engaged annually to review the internal control system[146] - The board and audit committee reported that the risk management and internal control systems are effective and adequate as of December 31, 2024[147] - The company has implemented monitoring procedures to strictly prohibit unauthorized access and use of insider information[148] Environmental, Social, and Governance (ESG) Initiatives - The group is committed to sustainable growth, balancing financial performance with environmental, social, and governance (ESG) management[99] - The company integrates environmental, social, and governance (ESG) principles into its operations, emphasizing stakeholder and community relationships[168] - The company has implemented a risk management policy to identify and allocate resources effectively for environmental, social, and governance risks[184] - The company has established a clear governance framework for its ESG strategy, detailing the roles and responsibilities of key management personnel[177] - The company aims to enhance its environmental management system in accordance with international standards to address environmental responsibilities and challenges[182] Employee and Director Compensation - The company maintains a fair and equitable compensation policy for all employees, with performance evaluations conducted annually[82] - The company established a Compensation Committee on August 17, 2018, to recommend overall compensation policies for all directors and senior management[131] - As of December 31, 2024, there is 1 senior management member earning between HKD 0 to 1,000,000 and 1 member earning between HKD 1,500,001 to 2,000,000[131] Compliance and Legal Matters - The company has adhered to all relevant regulations and has not identified any legal violations in 2024[199] - The company confirmed compliance with the non-competition agreement by all covenantors for the year ending December 31, 2024[76] - No related party transactions were established under the Listing Rules that were not exempted during the year[85] Awards and Recognition - During the reporting period, the company received two awards for its commitment to corporate social responsibility and sustainable development[187]

Financial Performance - The total revenue for the year ended December 31, 2024, was MOP 182,030,000, representing a 29.5% increase from MOP 140,580,000 in 2023[6] - Gross profit for the same period was MOP 26,903,000, up from MOP 8,092,000, indicating a significant improvement in profitability[6] - The net profit for the year was MOP 7,418,000, compared to a net loss of MOP 15,787,000 in the previous year, marking a turnaround in financial performance[6] - Basic and diluted earnings per share for 2024 were MOP 1.57, recovering from a loss of MOP 1.71 per share in 2023[7] - The group reported a net profit of MOP 9,407,000 for 2024, recovering from a loss of MOP 10,281,000 in 2023[27] - The net profit for the year ended December 31, 2024, was approximately MOP 7.4 million, a significant turnaround from a loss of approximately MOP 15.8 million in 2023[46] Revenue and Growth - The group reported revenue from renovation engineering contracts of MOP 182,030,000 for 2024, a significant increase from MOP 90,756,000 in 2023, representing a growth of 100.5%[13] - Total revenue for 2024 reached MOP 182,030,000, compared to MOP 140,580,000 in 2023, indicating an increase of 29.5%[13] - The group recorded a segment performance of MOP 27,380,000 for the renovation engineering division in 2024, compared to MOP 4,964,000 in 2023, reflecting a growth of 451.5%[18] - The company reported a revenue of MOP 182.0 million for the year ended December 31, 2024, an increase of approximately MOP 41.4 million or 29.4% compared to the previous year[34] Assets and Liabilities - Total assets as of December 31, 2024, were MOP 223,640,000, slightly down from MOP 228,780,000 in 2023[8] - The company's net asset value increased to MOP 194,333,000 from MOP 187,238,000, reflecting a growth of 3.8%[8] - Trade and other receivables rose to MOP 44,842,000 from MOP 30,103,000, indicating improved collection efficiency[8] - The company reported a decrease in trade and other payables to MOP 91,042,000 from MOP 99,001,000, suggesting better cash management[8] - Trade receivables (net of loss provisions) increased to MOP 25.1 million in 2024 from MOP 12.6 million in 2023[30] - Trade payables rose significantly to MOP 26.1 million in 2024 from MOP 6.7 million in 2023[32] Expenses and Costs - Administrative expenses for 2024 were MOP 29,742,000, up from MOP 28,093,000 in 2023, showing an increase of 5.9%[18] - The total employee costs for 2024 amounted to MOP 23,289,000, compared to MOP 19,004,000 in 2023, representing an increase of 22.5%[24] - Administrative expenses rose by approximately MOP 1.6 million to about MOP 29.7 million, primarily due to the expansion in the Hong Kong market[44] - The total employee cost for the year was approximately MOP 23.3 million, an increase from MOP 19.0 million in 2023, reflecting the increase in full-time employees to 159 from 49[57] Market and Strategic Outlook - The company plans to continue expanding its construction services and air purification system sales, focusing on enhancing operational efficiency and market reach[9] - The company anticipates strong recovery in the tourism and gaming sectors in Macau, with inbound tourists reaching 34.9 million in 2024, a 24% increase year-on-year[35] - The total gaming revenue in Macau for 2024 was MOP 220.2 billion, reflecting a 24% increase compared to the previous year[35] - The company plans to explore opportunities in the financial services sector after acquiring a licensed entity for asset management and securities advisory[36] - The company aims to diversify its revenue sources and maintain strict cost control measures to ensure sustainable growth[36] - The company is optimistic about capturing opportunities in the construction and financial services industries to create value for stakeholders[36] Financial Ratios and Compliance - The debt-to-equity ratio improved to 9.2% as of December 31, 2024, down from 13.8% in 2023, mainly due to a reduction in bank borrowings[49] - The group's liquidity ratio increased to 2.0 times as of December 31, 2024, compared to 1.8 times in 2023[50] - The company has complied with all relevant laws and regulations in Macau, Hong Kong, and China during the year[58] - The company has adopted the corporate governance code as per the listing rules and has complied with all mandatory disclosure requirements[60] - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2024, and found them to comply with applicable accounting standards and listing rules[66] Dividends and Shareholder Information - The group did not declare any dividends for both 2024 and 2023, maintaining a policy of no dividend distribution[25] - The company does not recommend any final dividend for the year ended December 31, 2024, consistent with the previous year[68] - The annual general meeting is scheduled for June 20, 2025, at 3:00 PM[69] - The company will suspend share transfer registration from June 17, 2025, to June 20, 2025, to facilitate attendance at the annual general meeting[70] Risks and Challenges - Significant fluctuations in construction material and labor costs may lead to cost overruns, severely impacting operational performance and financial results[59]

Financial Performance - For the six months ended June 30, 2024, the company's revenue was approximately MOP 58.9 million, a decrease of about MOP 18.2 million or 23.6% compared to the same period last year[14]. - The gross profit for the same period was approximately MOP 11.9 million, significantly up from MOP 0.6 million in the previous year, primarily due to higher-margin renovation projects[14]. - The net loss for the six months ended June 30, 2023, was approximately MOP 10.3 million, while the profit for the same period in 2024 was approximately MOP 2.5 million, reflecting a significant turnaround[27]. - The company reported a profit before tax of MOP 2,420,000, a substantial improvement from a loss of MOP 10,258,000 in the previous year[56]. - Net profit for the period was MOP 2,482,000, compared to a loss of MOP 10,341,000 in the same period last year[56]. - Total comprehensive income for the period amounted to MOP 2,100,000, recovering from a loss of MOP 10,911,000 in the previous year[56]. - The company reported a profit attributable to owners of MOP 3,827,000 for the six months ended June 30, 2024, compared to a loss of MOP 7,140,000 in the same period of 2023[82]. Revenue and Contracts - The company secured 8 renovation projects during the review period, with a total contract value of approximately MOP 32.0 million[14]. - For the six months ended June 30, 2024, the total revenue from renovation engineering contracts was MOP 58,923,000, compared to MOP 43,282,000 for the same period in 2023, representing a year-over-year increase of 36.2%[66]. - The total external customer revenue for the group was MOP 58,923,000 for the six months ended June 30, 2024, down from MOP 77,095,000 in the previous year, indicating a decline of approximately 23.5%[75]. Expenses and Costs - Administrative expenses increased from approximately MOP 12.6 million for the six months ended June 30, 2023, to approximately MOP 13.5 million for the same period in 2024, mainly due to market expansion in Hong Kong and China[26]. - The total employee cost for the period ended June 30, 2024, was approximately MOP 8.8 million, down from MOP 9.3 million for the same period last year[36]. - The group incurred contract costs of MOP 46,862,000 for renovation engineering for the six months ended June 30, 2024, compared to MOP 42,980,000 for the same period in 2023, representing an increase of approximately 9%[79]. Assets and Liabilities - The company's net assets increased to MOP 189,355,000 from MOP 187,238,000, reflecting a stable financial position[58]. - Current liabilities decreased to MOP 82,735,000 from MOP 125,210,000, indicating improved liquidity[57]. - The company's total liabilities decreased to MOP 79,738,000 as of June 30, 2024, from MOP 99,001,000 as of December 31, 2023, indicating a significant reduction in financial obligations[95]. Cash Flow and Liquidity - The cash and bank balances as of June 30, 2024, totaled approximately MOP 125.0 million, a decrease of about MOP 4.8 million from MOP 129.8 million as of December 31, 2023[29]. - The company reported a net increase in cash and cash equivalents of MOP 17,057,000 for the six months ended June 30, 2024, compared to a decrease of MOP 17,859,000 in the previous year[62]. - The operating cash flow before changes in working capital showed a net cash outflow of MOP 19,263,000 for the six months ended June 30, 2024, compared to an outflow of MOP 11,464,000 in the same period of 2023[62]. Market and Business Strategy - The company plans to expand its business network and customer base in Macau, Hong Kong, and other regions, while actively seeking new business opportunities in the financial services sector[17]. - The company anticipates that improvements in infrastructure and travel convenience will stimulate investment opportunities in the local construction market[15]. - The company has complied with all relevant laws and regulations in Macau, Hong Kong, and China for the six months ending June 30, 2024[37]. Shareholder Information - As of June 30, 2024, Mr. Liu holds 390,000,000 shares, representing a 65% ownership stake in the company[40]. - Major shareholders include Mrs. Liu with 390,000,000 shares (65%) and Laos International Holdings with 255,000,000 shares (42.5%)[43]. Corporate Governance - The company has adopted the corporate governance code as per the Stock Exchange's listing rules and has complied with all applicable provisions during the six months ended June 30, 2024[49]. - The audit committee, established in August 2018, oversees the appointment of external auditors and the integrity of financial statements[52]. Risks and Challenges - Significant fluctuations in construction material and labor costs may lead to cost overruns, severely impacting operational performance and financial results[38]. - The company acknowledges the global economic uncertainty due to tensions between the US and EU, which may impact its operations[38]. - The company relies on subcontractors for project completion, and poor performance or inability to provide services may negatively affect operations and profitability[38].

Financial Performance - Revenue for the six months ended June 30, 2024, was MOP 58,923,000, a decrease of 23.5% from MOP 77,095,000 in the same period of 2023[2] - Gross profit for the same period was MOP 11,851,000, with a gross margin of 20.1% compared to 0.7% in the previous year[2] - The net profit for the six months ended June 30, 2024, was MOP 2,482,000, a significant recovery from a net loss of MOP 10,341,000 in the prior year[2] - Basic earnings per share for the period was MOP 0.64, compared to a loss per share of MOP 1.19 in the previous year[2] - The company reported a total comprehensive income of MOP 2,100,000 for the period, compared to a total comprehensive loss of MOP 10,911,000 in the previous year[2] - The company reported a pre-tax profit of MOP 2,420,000 for the six months ended June 30, 2024, compared to a pre-tax loss of MOP 10,258,000 for the same period in 2023[15] - The company reported a profit attributable to shareholders of MOP 3,827,000 for the six months ended June 30, 2024, compared to a loss of MOP 7,140,000 in the same period of 2023[21] - The gross profit for the six months ended June 30, 2024, was approximately MOP 11.85 million, an increase of about MOP 11.3 million compared to the same period in 2023[39] - The gross profit margin increased from approximately 0.7% for the six months ended June 30, 2023, to 20.1% for the six months ended June 30, 2024, a rise of 19.4 percentage points[40] - Other income for the six months ended June 30, 2024, was approximately MOP 6.7 million, up from MOP 4.1 million in the same period in 2023, primarily due to increased bank interest income and insurance claims[41] - The net loss for the six months ended June 30, 2023, was approximately MOP 10.3 million, while the profit for the same period in 2024 was approximately MOP 2.5 million[45] Assets and Liabilities - Total assets as of June 30, 2024, were MOP 189,895,000, a decrease from MOP 228,780,000 as of December 31, 2023[4] - Current liabilities decreased to MOP 82,735,000 from MOP 125,210,000 at the end of the previous year[4] - The company's net assets increased to MOP 189,355,000 from MOP 187,238,000 at the end of 2023[5] - Trade and other receivables totaled MOP 30,408,000 as of June 30, 2024, slightly up from MOP 30,103,000 as of December 31, 2023[23] - The total trade and other payables amounted to MOP 79.738 million, a decrease from MOP 99.001 million as of December 31, 2023[31] - The total cash and bank balances as of June 30, 2024, were approximately MOP 125.0 million, a decrease of about MOP 4.8 million from MOP 129.8 million as of December 31, 2023[46] Revenue Breakdown - The revenue from renovation engineering contracts was MOP 58,923,000 for the six months ended June 30, 2024, while structural engineering contracts generated no revenue during this period[10] - The external customer revenue from Macau was MOP 33,563,000 for the six months ended June 30, 2024, down from MOP 39,598,000 in 2023, a decrease of approximately 12.9%[17] - The total external customer revenue for the six months ended June 30, 2024, was MOP 58,923,000, compared to MOP 77,095,000 in 2023, indicating a significant decline in overall performance[17] - The revenue from renovation projects increased by approximately MOP 15.6 million or 36.1%, offsetting some of the revenue decline from structural engineering projects[38] Business Operations and Strategy - The company continues to focus on expanding its construction services and air purification systems, aiming for market growth in these sectors[7] - The company plans to expand its business network and customer base in Macau, Hong Kong, and mainland China, while actively seeking new business opportunities in other industries, including financial services[37] - The company announced the acquisition of a Hong Kong-registered company holding licenses for securities advice and asset management, which is expected to diversify its business portfolio[37] - The company was awarded 8 renovation projects with a total contract value of approximately MOP 32.0 million during the reporting period[35] - The company had 25 ongoing projects as of June 30, 2024, including 1 structural engineering project and 24 renovation projects[35] Risk Management - The company emphasizes the importance of risk management to mitigate operational and financial risks, including significant fluctuations in construction material and labor costs[54] - Poor project management or delays could severely impact the company's reputation and may incur fines or additional costs, affecting financial performance[54] - The company relies on subcontractors for project completion, and their underperformance could negatively impact operations, profitability, and reputation[54] Corporate Governance - The company has adopted corporate governance principles in compliance with the Stock Exchange's Corporate Governance Code[55] - The audit committee, established in August 2018, monitors the integrity of financial statements and reviews significant financial reporting judgments[58] - The audit committee consists of three independent non-executive directors, with Mr. Ouyang Weili serving as the chairman[58] - The unaudited condensed consolidated financial statements for the six months ending June 30, 2024, have been reviewed by the audit committee and the company's auditors[58] Other Information - The company did not declare or propose any dividends for the interim periods[20] - The company has no significant investment or capital asset plans beyond those disclosed in its prospectus dated August 27, 2018[48] - No significant events related to disclosures have occurred after June 30, 2024, up to the date of this announcement[55] - The company has not purchased, sold, or redeemed any of its listed securities during the six months ending June 30, 2024[56]

Financial Performance - The group recorded revenue of approximately MOP 140.6 million for the year ended December 31, 2023, a decrease of about MOP 14.4 million or approximately 9.3% compared to the previous year [9] - The gross profit for the year was approximately MOP 8.1 million [9] - The available distributable reserves as of December 31, 2023, amounted to MOP 33.8 million, down from MOP 37.3 million in 2022 [22] - No final dividend was recommended for the year ended December 31, 2023, consistent with the previous year [21] Business Development and Strategy - The company announced a purchase agreement on March 14, 2024, to acquire a Hong Kong-registered company holding licenses for securities advisory and asset management, which is expected to diversify the business portfolio [10] - The company aims to actively seek new business opportunities in various sectors, including financial services, through mergers and acquisitions and partnerships with globally recognized firms [11] - The group is focused on expanding its global business market and seizing opportunities in the Greater Bay Area and other regions [10] - The group is optimistic about the recovery of the tourism and gaming sectors in Macau, driven by the reopening of borders and relaxation of COVID-19 control measures in mainland China [10] Stock Options and Equity - The company has a total of 60,000,000 shares available for issuance under the stock option plan, which represents 10% of the total issued shares [40] - As of December 31, 2023, there are 3,000,000 stock options granted under the plan, with an exercise price of HK$0.67 per share [45] - The maximum number of shares that can be issued upon the exercise of stock options under the plan is capped at 30% of the total issued shares [40] - The stock option plan is valid for a period of ten years from its adoption date unless terminated earlier by the shareholders or the board [34] - No stock options were granted, exercised, canceled, or lapsed during the year ending December 31, 2023 [40] - The fair value of the stock options granted by the company was determined to be HKD 264,000 (approximately MOP 272,000) using a binomial option pricing model [47] - The company recognized equity-settled share-based payment of approximately MOP 20,000 for the year ending December 31, 2023, compared to MOP 235,000 in 2022 [47] Corporate Governance - The group is committed to high standards of corporate governance, adhering to the principles of the Corporate Governance Code [99] - The board consists of eight members, including five executive directors and three independent non-executive directors [106] - The board's diversity policy considers various factors, including gender, age, cultural background, and industry experience, to ensure a well-rounded board composition [115] - The company has established mechanisms to ensure independent opinions are obtained during board decision-making processes [110] - The audit committee, consisting of three independent non-executive directors, has reviewed and approved the audited consolidated financial statements for the year ending December 31, 2023 [139] Risk Management - The group has adopted a three-tier risk management approach to identify, assess, and manage various risks [157] - The board and audit committee reported that the risk management and internal control systems are effective and adequate as of December 31, 2023 [158] - An internal control officer has been hired, and an independent third-party internal control consultant is engaged annually to review the internal control system [157] Environmental, Social, and Governance (ESG) - The group emphasizes sustainable growth in financial and environmental, social, and governance (ESG) aspects, balancing business development with ESG management [103] - The company emphasizes its commitment to environmental, social, and governance (ESG) principles, integrating them into its operational processes [184] - The report adheres to the ESG reporting guidelines set by the Hong Kong Stock Exchange, ensuring transparency and consistency in data presentation [186] - The company has established a clear governance framework for ESG, detailing the roles and responsibilities of the board and key management personnel [195] Shareholder Relations - The company is committed to maintaining effective communication with shareholders to enhance investor relations and understanding of business performance and strategies [177] - The company has established a process for shareholders to request special general meetings to address specified matters [172] - The company will present independent resolutions at the shareholders' meeting for significant issues, including the election of individual directors [171]

Financial Performance - The company's revenue for the year ended December 31, 2023, was MOP 140,580,000, a decrease of 9.5% compared to MOP 155,013,000 in 2022[7] - Gross profit for the year was MOP 8,092,000, down 76.0% from MOP 33,822,000 in the previous year[7] - The company reported a loss before tax of MOP 15,991,000, compared to a profit of MOP 9,400,000 in 2022[7] - The net loss attributable to owners of the company was MOP 10,281,000, compared to a profit of MOP 15,382,000 in the previous year[9] - Total revenue for the group in 2023 was MOP 140,580,000, a decrease of 9.4% from MOP 155,013,000 in 2022[20] - Revenue from renovation contracts was MOP 90,756,000 in 2023, down 41.2% from MOP 154,109,000 in 2022[20] - Revenue from structural engineering contracts was MOP 49,794,000 in 2023, with no revenue reported in 2022[20] - The group reported a pre-tax loss of MOP 15,991,000 in 2023, compared to a pre-tax profit of MOP 9,400,000 in 2022[23][25] - The company reported a loss attributable to shareholders of MOP 10,281,000 in 2023, compared to a profit of MOP 15,382,000 in 2022[34] - Total revenue for 2023 was approximately MOP 140.6 million, a decrease of MOP 14.4 million or 9.3% from 2022[41] - Gross profit for 2023 was approximately MOP 8.1 million, down from MOP 33.8 million in the previous year[41] - The company reported a loss of approximately MOP 15.8 million for the year ended December 31, 2023, compared to a profit of approximately MOP 9.8 million for the year ended December 31, 2022[55] Assets and Liabilities - Total assets decreased to MOP 228,780,000 from MOP 278,767,000 in 2022, reflecting a decline of 17.9%[11] - Current liabilities decreased slightly to MOP 125,210,000 from MOP 126,512,000 in the previous year[11] - The company's net asset value as of December 31, 2023, was MOP 187,238,000, down from MOP 202,085,000 in 2022[11] - Trade receivables (net of loss provisions) decreased to MOP 12,564,000 in 2023 from MOP 17,072,000 in 2022[35] - Trade and other payables totaled MOP 99,001,000 in 2023, down from MOP 126,130,000 in 2022[38] - The current ratio decreased to 1.8 times as of December 31, 2023, down from 2.2 times in 2022[59] Expenses and Costs - Administrative expenses rose to MOP 28,093,000 in 2023, compared to MOP 22,177,000 in 2022[23][25] - The group recognized a loss provision of MOP 1,578,000 for loss-making contracts in 2023, compared to MOP 41,000 in 2022[32] - The group’s total employee costs decreased to MOP 19,004,000 in 2023 from MOP 26,500,000 in 2022[32] - Administrative expenses increased by approximately MOP 5.9 million to about MOP 28.1 million, primarily due to the expansion in the Chinese market[53] - As of December 31, 2023, the total employee cost was approximately MOP 19.0 million, a decrease from MOP 26.5 million in 2022, reflecting strict cost control measures[67] Business Strategy and Operations - The company plans to continue focusing on construction services and air purification systems as part of its business strategy moving forward[12] - The company plans to expand its construction business into the Greater Bay Area of China, anticipating increased demand for infrastructure development[42] - The company announced a strategic acquisition of a Hong Kong-based company holding licenses for securities advisory and asset management, aiming to diversify revenue sources[43] - The company will cease operations in the air purification product business due to declining demand post-COVID-19[44] - Air purification business revenue decreased by approximately MOP 0.9 million or 96.7% due to reduced demand for air purification devices/systems[46] - The company completed four renovation projects and two structural projects in 2023, with a total contract value of approximately MOP 200.3 million[41] - The revenue from renovation projects decreased by MOP 63.4 million or 41.1% in 2023, while revenue from structural projects increased by MOP 49.8 million or 100% due to market expansion in China[45] Governance and Compliance - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2023, confirming compliance with applicable accounting standards and listing rules[79] - The company has adhered to all relevant laws and regulations in Macau, Hong Kong, and China during the year[68] - The company has implemented a governance code in compliance with the listing rules, ensuring adherence to all mandatory disclosure requirements[73] Shareholder Information - The group did not declare or propose any dividends for both 2023 and 2022[33] - The company did not recommend any final dividend for the year ended December 31, 2023, consistent with the previous year[81] - The company will suspend the registration of share transfers from June 13, 2024, to June 18, 2024, inclusive[83] - Shareholders must ensure that all transfer documents are submitted by June 12, 2024, at 4:30 PM to be eligible to attend the annual general meeting[83] - The registration will be handled by the company's Hong Kong share transfer agent, BDO Limited[83] - The address for document submission is Room 2103B, 21/F, 148 Electric Road, North Point, Hong Kong[83] - No share transfer registrations will be processed during the suspension period[83] - The company emphasizes the importance of timely submission for voting eligibility at the annual general meeting[83] - The annual general meeting is scheduled for June 13, 2024[83] - The suspension period includes the first and last days of the registration process[83] - The company aims to ensure a smooth process for shareholders during the registration suspension[83] - All unregistered shareholders are advised to act promptly to secure their voting rights[83] Risks - Major risks include significant fluctuations in construction material and labor costs, which could severely impact operational performance and financial results[69]

Revenue and Profitability - For the six months ended June 30, 2023, the company's revenue was approximately MOP 77.1 million, a decrease of about MOP 20.9 million or 21.4% compared to the same period last year[7]. - The company recorded a gross profit of MOP 0.6 million for the first half of 2023, down from MOP 2.3 million in the same period of 2022[7]. - Revenue from renovation projects decreased by approximately MOP 53.9 million or 55.5%, primarily due to most projects being completed in 2022[15]. - Revenue from structural engineering projects increased by approximately MOP 33.8 million or 100%, offsetting some losses from renovation projects[15]. - The group's gross profit decreased by approximately MOP 1.8 million or 75.9% compared to the same period last year[18]. - The gross profit margin for renovation projects was 0.7% in the first half of 2023, down from 1.9% in the same period of 2022[16]. - The company reported a loss before tax of MOP 10,258,000, an improvement of 15.2% compared to a loss of MOP 12,108,000 in the previous year[74]. - Total comprehensive loss for the period was MOP 10,911,000, compared to MOP 12,108,000 in 2022, indicating a reduction of 9.9%[74]. - The loss for the six months ended June 30, 2023, was approximately MOP 10.3 million, compared to a loss of MOP 12.1 million in the same period last year[26]. - The loss attributable to the owners of the company for the first half of 2023 was MOP 7,140,000, compared to MOP 7,622,000 in the same period of 2022[112]. Cash Flow and Financial Position - As of June 30, 2023, the total cash and bank balances (excluding bank overdrafts) were approximately MOP 191.8 million, down from MOP 213.4 million as of December 31, 2022[29]. - The group had a bank overdraft of approximately MOP 17 million as of June 30, 2023, compared to none as of December 31, 2022[29]. - Net cash used in operating activities for the six months ended June 30, 2023, was MOP -32,708,000, compared to MOP 50,407,000 in the same period of 2022[79]. - The net decrease in cash and cash equivalents for the six months ended June 30, 2023, was MOP -17,859,000, compared to an increase of MOP 34,164,000 in the same period of 2022[79]. - Cash and cash equivalents at the end of the period were MOP 25,158,000, down from MOP 149,214,000 at the end of June 30, 2022[79]. - Current assets decreased to MOP 269,079,000 from MOP 278,767,000, reflecting a decline of 3.5%[75]. - Current liabilities were reported at MOP 129,612,000, slightly up from MOP 126,512,000 in the previous year[75]. - Net assets decreased to MOP 191,194,000 from MOP 202,085,000, a decline of 5.4%[75]. - Total assets as of June 30, 2023, were MOP 321,754,000, a slight decrease from MOP 328,597,000 as of December 31, 2022[152]. - Total liabilities increased to MOP 130,560,000 as of June 30, 2023, compared to MOP 126,512,000 at the end of 2022[152]. Business Operations and Strategy - The company has 24 ongoing projects as of June 30, 2023, including 4 structural engineering projects and 20 renovation projects[7]. - The company plans to explore opportunities in asset management and investment advisory services to diversify revenue sources[12]. - The company aims to expand its business network and customer base in Macau and mainland China[8]. - The company is engaged in providing construction services, including structural engineering and renovation works, and sales of air purification devices/systems[89]. - The company expects to recognize revenue from unfulfilled contracts in renovation and structural engineering for the fiscal years ending December 31, 2023, and December 31, 2024[94]. Employee and Management Information - The group had 68 full-time employees as of June 30, 2023, an increase from 56 employees as of December 31, 2022, due to market expansion in China[38]. - The company reported a total management compensation of MOP 3,040,000 for the six months ended June 30, 2023, compared to MOP 3,392,000 for the same period in 2022[145]. - The company’s success is largely dependent on the ability to attract and retain key management and technical personnel[43]. Risks and Challenges - Major risks include significant fluctuations in construction material and labor costs, which could severely impact operational performance and financial results[43]. - The company relies heavily on subcontractors, and poor performance or inability to provide services from them may negatively affect operations and profitability[43]. - The company faces uncertainties due to geopolitical tensions between the US and the EU, impacting global economic conditions[43]. Shareholder and Corporate Governance - As of June 30, 2023, major shareholders include Mr. Liu, holding 390 million shares (65%), and Mr. Ye, holding 60 million shares (10%)[49]. - The company has adopted a share option scheme effective from September 10, 2018, aimed at incentivizing eligible participants contributing to the group[56]. - The company has complied with all applicable corporate governance code provisions during the six months ended June 30, 2023[62]. - The audit committee, established on August 17, 2018, oversees the integrity of financial statements and the appointment of external auditors[67]. Acquisitions and Investments - The company completed the acquisition of 100% of the issued share capital of Jin Ying for a cash consideration of RMB 10,000,000 (approximately MOP 11,982,000) on January 16, 2023[138]. - The net cash outflow for the acquisition of Jin Ying was MOP 8,737,000 after accounting for cash and cash equivalents acquired[142]. - The acquisition of Jin Ying is expected to supplement the company's construction business in China[138]. - The company has an obligation to invest RMB 40,000,000 (approximately MOP 44,460,000) in Jin Ying as of June 30, 2023[150]. Other Financial Information - Other income increased to approximately MOP 4.1 million, primarily due to bank interest income of about MOP 3.5 million, up from MOP 3.0 million in the previous period[21]. - Impairment losses decreased by MOP 3.3 million or 56.8% due to the settlement of older receivables during the review period[24]. - Administrative expenses increased by approximately MOP 0.9 million to MOP 12.6 million, attributed to the expansion in the Chinese market[25]. - The company recognized impairment losses of MOP 6,529,000 for the six months ended June 30, 2023, slightly higher than MOP 6,303,000 in the same period last year[122].

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之內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不會就本公告全部或任何部分內容而產生或因倚賴該 等內容而引致之任何損失承擔任何責任。 AB BUILDERS GROUP LIMITED 奧 邦 建 築 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：01615） 截至二零二三年六月三十日止六個月 中期業績公告 奧邦建築集團有限公司（「本公司」）董事會（「董事會」）謹此公告本公司及其附屬公 司截至二零二三年六月三十日止六個月之未經審核中期業績。本公告符合香港聯 合交易所有限公司證券上市規則有關隨附初步中期業績公告的資料之相關規定。 刊載中期業績公告及中期報告 此業績公告可在香港聯合交易所有限公司網站(www.hkexnews.hk)及本公司網站 (www.abbuildersgroup.com)閱覽。 本公司二零二三年中期報告將於適當時候寄發予股東並在本公司及香港聯合交易 所有限公司網站刊載。 承董事會命 奧邦建築集團有限公司 主席兼執行董事 劉朝盛先生 ...

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之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不會就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之任何損失承擔任何責任。 AB BUILDERS GROUP LIMITED 奧 邦 建 築 集 團 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：01615） 有關截至二零二二年十二月三十一日止年度年報 的補充公告 茲提述奧邦建築集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）於 二零二三年四月二十七日刊發的截至二零二二年十二月三十一日止年度的年 報（「二零二二年年報」）。除另有界定者外，否則本公告所用詞彙與二零二二年 年報所界定者具有相同涵義。 有關所得款項用途的二零二二年年報的補充資料 除二零二二年年報第83頁管理層討論及分析「所得款項用途」一節所披露的資 料外，董事會謹此根據上市規則附錄16第11(8)及11A段提供有關該節項下所得 款項用途的進一步資料如下： 誠如二零二二年年報所披露，截至二零二二年十二月三十一日，分配至潛在合 併及收購的所得款項淨額約6.1百萬港元尚未獲動用。未動用所得款項淨額 ...

Financial Performance - The company recorded revenue of approximately MOP 155.0 million for the year ended December 31, 2022, a decrease of about MOP 198.1 million or approximately 56.1% compared to the same period in 2021[6]. - The gross profit for the year ended December 31, 2022, was approximately MOP 33.8 million[6]. - As of December 31, 2022, the company's distributable reserves amounted to MOP 37.3 million, down from MOP 62.4 million in 2021[16]. - The company did not recommend any final dividend for the year ended December 31, 2022, consistent with the previous year[15]. - The company is actively seeking to increase revenue and promote long-term development despite ongoing challenges in the global economy[6]. Business Strategy and Outlook - The company maintains a cautiously optimistic outlook for the industry, anticipating gradual recovery in global markets as COVID-19 control measures ease[7]. - The company plans to strategically expand its construction business globally, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area and other regions[7]. - The company aims to seek new business opportunities through mergers and acquisitions and collaborations with globally recognized enterprises[7]. - The company continues to implement strict cost control measures to mitigate adverse impacts on ongoing projects due to global economic instability[7]. Shareholder Information - The net proceeds from the listing on September 10, 2018, were approximately HKD 61.2 million, with specific usage details provided in the annual report[18]. - The company did not purchase, sell, or redeem any shares during the year ended December 31, 2022[65]. - Shareholders holding at least 10% of the paid-up capital have the right to request the board to convene a special general meeting[153]. Corporate Governance - The board consists of eight members, including five executive directors and three independent non-executive directors[87]. - The chairman and CEO roles are separated, with Mr. Liu Chao Sheng as chairman and Ms. Liu Qiu Yu as CEO, ensuring effective governance[102]. - The board is responsible for guiding and monitoring the company’s affairs, ensuring effective internal controls and risk management systems[109]. - The company has maintained directors and officers liability insurance throughout the year to provide adequate protection against legal claims[47]. - The board confirmed that there were no related party transactions that fell under the definition of connected transactions as per the listing rules[70]. Risk Management - The company has adopted a three-tier risk management approach to identify, assess, and manage various risks, with business units responsible for the first line of defense[138]. - The board is aware of its responsibilities regarding the effectiveness of risk management and internal control systems, which aim to manage risks to business objectives[135]. - The company has established a risk management framework that includes the identification and assessment of internal and external issues affecting daily operations[181]. Environmental, Social, and Governance (ESG) - The company integrates environmental, social, and governance (ESG) principles into its operations, aiming to build lasting relationships with stakeholders and the community[163]. - The board is responsible for overseeing the company's ESG management, identifying opportunities and risks, and ensuring effective risk management and internal controls[176]. - The company has committed to enhancing employee welfare, service quality, and community engagement as part of its sustainable development goals[169]. - The company has identified significant environmental, social, and governance (ESG) risks, including pandemic risks and climate-related risks, and has implemented measures to mitigate these impacts[182]. Employee and Board Diversity - Approximately 70% of the company's employees are male, while about 30% are female, reflecting the company's commitment to gender diversity[98]. - The company aims to include at least one female director to avoid gender homogeneity on the board[95]. - The board diversity policy considers various factors, including gender, age, cultural background, and industry experience[95]. - The company emphasizes employee development and welfare, addressing labor-related issues such as occupational health and safety[200]. Compliance and Regulations - The group has maintained compliance with relevant laws and regulations that significantly impact its business operations throughout the year[74]. - The company has not identified any violations of applicable laws and regulations in 2022[200]. - The company has established a clear governance framework for ESG, detailing the roles and responsibilities of the board and key management personnel[173].